1. Interest rates started out in 2011 at 4%; most thought that rates would go back up to 6-7% by mid year but were surprised with rates falling to the lowest levels ever. By year end, rates were on average 3.9%.

2. Sales were up over 2010, especially the 4th quarter where YOY  gains were double digit; obviously that is a nice start to 2012.

3. Contract cancellations have jumped alarmingly high from about 9% in Aug to 33% in the last 2 months.

4. The "robo signing" debacle has slowed the reo properties fom entering the market. We should start to see thede propertirs enter the market as the government and the banks settle on isues surronding proper proceeses; this could have an effect on price/values in 2012.

5. Values were strong in the first quarter only to see that erode as the year went on. We still should see downward price pressuer in 2012.

So, be American and contribute to the economy...buy a house in 2012!

]]>http://www.familiesmovingfamilies.com/Blog/November-2011-Real-Estate-Stats-Baltimore-Metro-areahttp://www.familiesmovingfamilies.com/Blog/November-2011-Real-Estate-Stats-Baltimore-Metro-areaTue, 13 Dec 2011 03:00:00 GMT Last week we sat down with our insurance agent and went through all of our accounts to insure they were up to date and necessary. Although we spent over an hour to complete, it was time well spent. I was especially concerned about my home owner's insurance. We went through each line item in an effort to determine we would have enough coverage for fire, etc. We also discussed any riders, like jewelry, furs, sewer back up. flood etc. It was painfully detailed but we walked away very satisfied we had covered it all.

Set aside time to insure you are covered!

What I really wanted to discuss was the fact that real estate sales is a linear business; that is, if I am not at my job, at the office, in front of buyers and sellers, I do not get paid. I have been longing for other  forms of income that will create passive income.

Keller Williams Realty recognizes this fact and has incorporated in its compensation plan passive income, called profit sharing. It is based on  your contribution towards the company's profit as well as those agents that you recruited to the company. It is actually genius...taking multi-level marketing and adding it in the real estate brokerage business. Although, multi-level marketing has in the past had some negativity, it is a proven business model that is coming into its own, and I might add can be very lucrative...in fact, if I had become network marketer instead of the real estate agent, I probably would be retired now with no where near the stress.

I have found that business that will povide me with residual income, is recession proof, and is based on services that we are already using. It is ideal for real estate professional in that it is services for the home.

I hope I have piqued your curiosity...more to come concerning this business.

FHA- $560,000 with 3.5% down and sellers can contribute up to 6%

Conventional- $494,500 with 10% down and seller can contribute up to 6%

Conventional- $417,000 with 5% down and seller can contribute up to 3%

Veterans- $500,000 with 0 down and seller can pay all closing costs

This is very encouraging...with rates as low as 3.9% fixed, now couldn't be any better to buy.

Currently, the month supply in the Baltimore area is 8.2 months; a balanced market (equal amount of sellers and buyers) is a 6 month supply. In addition, the market has definitely bottomed with most counties seeing their lowest median price in March and April, 2011. 

* Active listings in every county surrounding Baltimore are at the lowest levels in five years

*Interest rates are literally the lowest EVER!

*Unit sales are up anywhere from 4% to 20%, depending on the county

*Median price is less than last year roughly 5%

I believe that median price will turn around as inventory levels shrink and demand increases due to low rates. I am going out on a limb but I beleive that we will be seeing a seller's market soon.