Annapolis Maryland Luxury Real Estate

Across the country according to one report inventory levels are down and demand is up.  That's great news, especially for December which can often be the slowest month in real estate (after August).  In Anne Arundel County Maryland inventory level is down 32.6% to a modest 2,688 active listings in December 2011 from June 2010 when inventory reach 3,928 active listings.  With about 7 months of inventory, Anne Arundel County has moved from a buyer's market towards a more balanced market.  Industry experts suggest that 6 months of inventory is where the market is balanced.  More than 6 months, it's a buyer's market and less than 6 months it's a sellers market.  Markets rarely stay balanced for long.  There's no guarantee that the local market will tip far enough to be characterized as a seller's market anytime soon.

What's likely to happen in the next few months?

The trend in declining inventory could be expected to continue until about March.  After March Annapolis and Anne Arundel County is poised to start the spring market.  And, there may be many sellers you are simply waiting for spring to come to market.  As you can see from the chart below, inventory peaks in June.   Demand follows a similar curve with the most homes sold in during the same time period.

What about the shadow inventory?

Bank owned foreclosures is one shadow inventory.  But there's another shadow inventory lurking in the wings of spring.  Not often considered are all the homeowners that want to sell, but, haven't been able to.  They may have let their listings expire and or withdrew them.  Some of these homeowners might have even given up and are just waiting to come back to market as soon as there's a glimmer of hope that they could sell.  Both the shadow inventory of bank owned homes and homeowners waiting in the the wings for better conditions could drive inventory levels back to recent highs.

Interest rates aren't enough!

Borrowing to purchase a home has never been more affordable than it has been over the last year.  Interest rates for 30-year fixed rate mortgages are at or below 4%.  That's simply an amazing rate.  The cost of buying a home is well below that of renting.  However, the rent-to-buy ratio remains high in our area continue to depress buyer's desire to own a home.  Unless prices come down further, despite low interest rates, buyers may continue to sit on the sidelines and simply wait and watch.  This is especially true for first-time home buyers.  Other renters anxious to buy a home again are those folks that force to rent having lost their homes to short-sales and foreclosures over the last three years.

This year what other dynamics might impact the spring housing market?

There is often optimism in the run up to the presidential election and euphoria that follows for the year afterwards.  The next two years should be very good for the stock brokers and real estate brokers alike since people will be buying with the idea that things are finally going to get better or selling with thoughts that things are going to turn for the worse.  We won't know that we've reached a tipping point until we can clearly see it in the rear view mirror.

Annapolis waterfront homes are the best of the Chesapeake Bay.  They're located on some of the most beautiful bay, river and creek locations in one of the most desirable cities in Maryland.  Residents of Annapolis waterfront homes are not only living their dreams but many are living in their dreams.

Annapolis is located on the Western Shore of the Bay.  Many homes feature expansive open vistas while other homes are nestled among meandering rivers and secluded creeks.  An Annapolis waterfront home is a lifestyle centered on the very heart of the Chesapeake Bay.  You can find tranquil natural settings located only minutes from its vibrant downtown with upscale shopping, fine dining at local restaurants and a downtown steeped in history.  Yet, fish and water foul are abundant throughout the area.  So whether you up for spotting Eagles or catching rock fish for the grill, catching Maryland Blue Crabs from your pier or unparalleled season hunting, there's something for almost everyone in Annapolis.

Annapolis - known as the sailing capital of the world - hosts one of the world's largest in-water boat shows in October.  It all starts with the Sailboat show on Columbus Day weekend and end with the Powerboat show the following weekend.  For nearly two full weeks, people from around the world come to Annapolis to see that latest and greatest, biggest and smallest sailboats and powerboats at City Dock.

Many Annapolis waterfront homes include private docks and piers.  Deep water is common on the Chesapeake Bay and less common the farther you go up local rivers and creeks.  It's not uncommon to have docks with boat lifts.  There are several area fixed bridges that will restrict the height of masts and fly bridges.  The Severn River and South River are the two largest rivers in the area.

Local residents will agree that Annapolis waterfront homes are worth their million dollar price tags. In August of 2005, the median price for an Annapolis waterfront house was $1,175,000.  Today the median price for the same period (August of 2011) for a waterfront house was $775,000, so it’s possible to purchase a million dollar home for less than million dollars in a premier waterfront spot.  Since waterfront property in the area continues to be in demand, it’s likely that Annapolis waterfront homes will recover their value faster than other houses in the area - they aren't making more waterfront locations anytime soon.

Buyers should be well-prepared when looking for an Annapolis waterfront home.  To have one of most hardworking, knowledgeable Realtors at your side and to learn about Annapolis Real Estate, contact Stephen Howell.  If you are looking for another amazing Maryland local, try searching for Annapolis Maryland Real Estate.

Crofton Townhome For Sale (AA7689243)

This tri-level townhome is nestled among the trees at the end of cul-de-sac. Country kitchen with dining space, french doors to deck. Walk-out lower level family room with fireplace. Close to Rts. 50/3 for shopping and easy commuting to DC, Baltimore, Fort Meade, NSA.

View FULL DETAILS and additional PHOTOS here:

http://www.cbmove.com/property/details/582169/MLS-AA7689243/2568-Log-Mill-Court-Crofton-MD-21114.aspx?IsBranded=1&AgentID=2248

Are you looking for Edgewater Maryland foreclosed homes, bank owned homes or HUD owned homes for sale? If so, then you're in the right place! You can often purchase Edgewater Maryland foreclosures below market value. While some foreclosures are not necessarily a steal, many Edgewater bank owned homes are great deals. There are foreclosure listings in Edgewater that include government homes from federal agencies such as HUD and VA, as well as, bank foreclosures from a variety of local banks and national banks selling REO properties and bank repo homes in Edgewater Maryland.

Be prepared, not all foreclosed homes and REO properties are in prefect condition. Many will require work to restore them back to their former glory. There are many HUD owned homes that are part of the HomePath program are ready to move in, with fresh painted and and new carpet, and some with all new appliances.

Start searching today among the Edgewater Maryland foreclosed homes for your perfect place to live.

There are 6 Edgewater foreclosures for sale today. The average asking price is $216,263 and they have been on the market an average of 55 days. The minimum asking price for Edgewater bank owned homes is $104,900, with a maximum asking price of $388,075, and the median asking price is $197,400.

There are 4 Edgewater REOs under contract today. The average asking price is $273,373 and they were on the market an average of 34 days. The minimum asking price for Edgewater REOs is $184,900, with a maximum asking price of $429,900, and the median asking price is $205,320.

In the last 90 days there were 7 foreclosures in Edgewater Maryland that were sold. The average list price was $206,287 and they were on the market for an average of 59 days. The minimum list price for sold listings was $149,900, with a maximum list price of $399,900, and a median listing price of $185,000.

The average sold price for Edgewater Maryland foreclosures was $193,214 for a 81.8% sold-to-list ratio off their original list price. The minimum sold price was $100,000, with a maximum sold price of $416,000, and the median sold price was $160,000.

With about 2 Edgewater foreclosed properties selling each month, there is about a 3 month inventory for bank owned homes for sale. This really is a remarkable time for highly qualified buyers to consider purchasing their first home or an additional property because:

• Edgewater Maryland foreclosures are very affordable right now
• Interest rates are low even on jumbo mortgages
• Excellent financing options are available for qualifying buyers
• Timing is everything when it comes to finding just the right Edgewater Maryland bank owned home
• Owning a home is everyone’s dream

Don't waste any more time, find your Edgewater bank owned home today.

NOTE: All data as of September 2, 2011

Are you looking for Crownsville Maryland foreclosed homes, bank owned homes or HUD owned homes for sale? If so, then you're in the right place! You can often purchase Crownsville Maryland foreclosures below market value. While some foreclosures are not necessarily a steal, many Crownsville bank owned homes are great deals. There are foreclosure listings in Crownsville that include government homes from federal agencies such as HUD and VA, as well as, bank foreclosures from a variety of local banks and national banks selling REO properties and bank repo homes in Crownsville Maryland.

Be prepared, not all foreclosed homes and REO properties are in prefect condition. Many will require work to restore them back to their former glory. There are many HUD owned homes that are part of the HomePath program are ready to move in, with fresh painted and and new carpet, and some with all new appliances.

Start searching today among the Crownsville Maryland foreclosed homes for your perfect place to live.

There are 4 Crownsville foreclosures for sale today. The average asking price is $262,200 and they have been on the market an average of 78 days. The minimum asking price for Crownsville bank owned homes is $229,000, with a maximum asking price of $300,000, and the median asking price is $259,900.

There is 1 Crownsville REOs under contract today. The asking price is $345,000 and it has been on the market for 226 days.

In the last 90 days there were 3 foreclosures in Crownsville Maryland that were sold. The average list price was $366,800 and they were on the market for an average of 73 days. The minimum list price for sold listings was $249,900, with a maximum list price of $451,500, and a median listing price of $399,000.

The average sold price for Crownsville Maryland foreclosures was $357,667 for a 89.2% sold-to-list ratio off their original list price. The minimum sold price was $245,000, with a maximum sold price of $418,000, and the median sold price was $410,000.

With only 1 Crownsville foreclosed property selling each month, there a little more than 3 month inventory for bank owned homes for sale. This really is a remarkable time for highly qualified buyers to consider purchasing their first home or an additional property because:

• Crownsville Maryland foreclosures are very affordable right now
• Interest rates are low even on jumbo mortgages
• Excellent financing options are available for qualifying buyers
• Timing is everything when it comes to finding just the right Crownsville Maryland bank owned home
• Owning a home is everyone’s dream

Don't waste any more time, find your Crownsville bank owned home today.

NOTE: All data as of September 2, 2011

Are you looking for Arnold Maryland foreclosed homes, bank owned homes or HUD owned homes for sale? If so, then you're in the right place! You can often purchase Arnold Maryland foreclosures below market value. While some foreclosures are not necessarily a steal, many Arnold bank owned homes are great deals. There are foreclosure listings in Arnold that include government homes from federal agencies such as HUD and VA, as well as, bank foreclosures from a variety of local banks and national banks selling REO properties and bank repo homes in Arnold Maryland.

Be prepared, not all foreclosed homes and REO properties are in prefect condition. Many will require work to restore them back to their former glory. There are many HUD owned homes that are part of the HomePath program are ready to move in, with fresh painted and and new carpet, and some with all new appliances.

Start searching today among the Arnold Maryland foreclosed homes for your perfect place to live.

There are 3 Arnold foreclosures for sale today. The average asking price is $421,267 and they have been on the market an average of 334 days. The minimum asking price for Arnold bank owned homes is $209,900, with a maximum asking price of $839,000, and the median asking price is $214,900.

There are 4 Arnold REOs under contract today. The average asking price is $193,300 and they were on the market an average of 64 days. The minimum asking price for Arnold REOs is $150,000, with a maximum asking price of $229,900, and the median asking price is $200,000.

In the last 90 days there were 5 foreclosures in Arnold Maryland that were sold. The average list price was $298,380 and they were on the market for an average of 60 days. The minimum list price for sold listings was $238,500, with a maximum list price of $459,000, and a median listing price of $249,500.

The average sold price for Arnold Maryland foreclosures was $303,940 for a 93.21% sold-to-list ratio off their original list price. The minimum sold price was $245,000, with a maximum sold price of $450,000, and the median sold price was $281,000.

With about 1.5 Arnold foreclosed properties selling each month, there is less than a 2 month inventory for bank owned homes for sale. This really is a remarkable time for highly qualified buyers to consider purchasing their first home or an additional property because:

• Arnold Maryland foreclosures are very affordable right now
• Interest rates are low even on jumbo mortgages
• Excellent financing options are available for qualifying buyers
• Timing is everything when it comes to finding just the right Arnold Maryland bank owned home
• Owning a home is everyone’s dream

Don't waste any more time, find your Arnold bank owned home today.

NOTE: All data as of September 2, 2011

Are you looking for Annapolis Maryland foreclosed homes, bank owned homes or HUD owned homes for sale? If so, then you're in the right place!  You can often purchase Annapolis Maryland foreclosures below market value.  While some foreclosures are not necessarily a steal, many Annapolis bank owned homes are great deals.  There are foreclosure listings in Annapolis that include government homes from federal agencies such as HUD and VA, as well as, bank foreclosures from a variety of local banks and national banks selling REO properties and bank repo homes in Annapolis Maryland.

Be prepared, not all foreclosed homes and REO properties are in prefect condition.  Many will require work to restore them back to their former glory.  There are many HUD owned homes that are part of the HomePath program are ready to move in, with fresh painted and and new carpet, and some with all new appliances.

Start searching today among the Annapolis Maryland foreclosed homes for your perfect place to live.

There are 29 Annapolis foreclosures for sale today. The average asking price is $277,455 and they have been on the market an average of 93 days. The minimum asking price for Annapolis bank owned homes is $54,900, with a maximum asking price of $1,399,999, and the median asking price is $224,900.

There are 10 Annapolis REOs under contract today. The average asking price is $184,147 and they were on the market an average of 55 days. The minimum asking price for Annapolis REOs is $108,000, with a maximum asking price of $284,900, and the median asking price is $149,900.

In the last 90 days there were 31 foreclosures in Annapolis Maryland that were sold. The average list price was $263,995 and they were on the market for an average of 91 days. The minimum list price for sold listings was $53,000, with a maximum list price of $729,900, and a median listing price of $234,900.

The average sold price for Annapolis Maryland foreclosures was $257,677 for a 87.95% sold-to-list ratio off their original list price. The minimum sold price was $49,999, with a maximum sold price of $720,000, and the median sold price was $215,000.

With about 10 Annapolis foreclosed properties selling each month, there is a 3 month inventory for bank owned homes for sale. This really is a remarkable time for highly qualified buyers to consider purchasing their first home or an additional property because:

• Annapolis Maryland foreclosures are very affordable right now
• Interest rates are low even on jumbo mortgages
• Excellent financing options are available for qualifying buyers
• Timing is everything when it comes to finding just the right Annapolis Maryland bank owned home 
• Owning a home is everyone’s dream

Don't waste any more time, find your Annapolis bank owned home today.

NOTE: All data as of September 2, 2011

July 2011 Baltimore Maryland Metro Region (including Annapolis and Anne Arundel County) MarketWatch

Realestate Business Intelligence ("RBI") is now putting out a monthly video covering local real estate market conditions. The one below is for the Balitmore Maryland metro region, which includes Annapolis and Anne Arundel County. The video is about three minutes long and reviews the basic statistics about the region.

Real estate trends can be very local, one subdivision or neigborhood trending up in price while another one is trending down in price, and the very next month it could flip-flop.

When selling a home, knowing the current trends that might affect the sale of you home is critical information to proper price positioning. Without knowing the trends, you could easily overprice your home and scare buyers away or underprice your home and give it away. Either way, you'll miss the market and possibly loose money along the way.

When buying a home, knowing which way home prices are trending offers critical guidance so that you don't over pay for your next home. While "timing the market" is very difficult, knowing the current real estate trends will help you know just where a home fits into todays market.

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June 2011 Baltimore Maryland Metro Region (including Annapolis and Anne Arundel County) MarketWatch

Ten Year Anne Arundel County Pending Home Sales Index

From Miller Samuel, Real Estate Appraisers and Consultants, comes an important metro Washington DC ten year overview of pending sales.  You can clearly see the boom years (2001 to 2006) as well as the bust years (2007 to 2011).

I was curious to compare Anne Arundel County with the Washington DC metro area.  See the chart below for a ten year overview of pending home sales in Anne Arundel County Maryland.  The local pattern for the county isn't much different than Washington.  You can see the same bump the Federal Homebuyers Tax Credit gave to the market in both charts.  You might also note this year's pending home sales cycle is similar to that of 2007.

Important time periods are highlighted in both charts.  The February seasonal reset before spring is evident in both charts, as are the September and December seasonal troughs.  The May and October seasonal peaks are also easily seen.  Currently we're in the summer drift, as well as we're below 600 pending sales - which puts Anne Arundel County still in a bust cycle.  Sellers can expect declining sales for the remainder of the year.  It is not clear how deep the September season pre-fall mini-trough will be, but, once September figures are in we'll have a better idea about what will happen during the last quarter of this year.

432 Colonial Ridge Lane, Arnold Maryland 21012

Tip Top Townhome - You won't be disappointed - it's move-in ready - all that's missing is you! Enjoy the view of the woods while you relax or entertain in the living room or bar-b-que on the deck. Cook up a storm in the galley kitchen for family or formal dinners in the separate dining room. Well located on the Broadneck Peninsula a short distance from many of Annapolis finest area attractions and major highways.

Sail and Boat:  The Annapolis Yacht Club is about 15 minutes (about 7 miles) away.

Shop:  Short drive or quick walk to the Super Fresh Store.

Today's Weather Forecast:  Scattered Thunderstoms High of 81 - Click here for current weather details.

View FULL DETAILS and additional PHOTOS here:

http://www.cbmove.com/property/details/557782/MLS-AA7664071/432-Colonial-Ridge-Lane-Arnold-MD-21012.aspx?IsBranded=1&AgentID=2248