Laurel, MD Real Estate News

By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
This weeks absorption rates for Montgomery, Prince Georges, Howard and Ann Arundel Counties in Maryland are as follows.  Montgomery continues to have the highest absorption rate at twenty percent.  Prince Georges follows with fourteen percent.  Close behind is Howard county with thirteen percent.  And in last place again is Ann Arundel county at eleven percent. Only Howard county did not show an increase from the previous week, remaining at thirteen percent.  Despite the growing inventory in the greater Laurel real estate area, absorption rates continue to increase. This increase in absorption rates may be due to a number of factors.  It is clear that short sales and foreclosure have brought home prices down.  However, home values may be at a point where most first time home buyers can ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
2008    2007    % Change Total Sold Dollar Volume: $ 6,351,372 $ 6,751,845 - 5.93 % Average Sold Price: $ 264,641 $ 337,592 - 21.61 % Median Sold Price: $ 244,950 $ 306,000 - 19.95 % Total Units Sold: 24 20 20.00 % Average Days on Market: 127 58 118.97 % Average List Price for Solds: $ 305,857 $ 357,055 - 14.34 % Avg Sale Price as a percentage of Avg List Price: 86.52 % 94.55 % The housing market correction continues in Prince Georges County Laurel Maryland 20707.  The numbers above compare sales of Laurel real estate from this past December 2008 to December 2007. Average sold price dropped from $337,592 to $264,641.  And the median sold price decreased from $306,000 to $244,955.  These changes represent about a twenty percent decline in home values each. However, for sellers there is ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel real estate resides in four different counties.  Those four Maryland counties are Montgomery, Prince Georges, Howard, and Ann Arudel.  It is important for both buyers and sellers to know how homes are selling in each county.  In general, if 23 percent or less of the inventory is selling in the first thirty days, it is a buyers market. Montgomery county Maryland has the highest percentage of homes selling in the first thirty days at 19 percent.  Howard and Prince Georges County Maryland follow at 13 percent of homes selling in the first thirty days.  Finally, Ann Arundel county has the lowest percentage of homes selling at 10 percent. All four counties are still in a buyers market.  However, both Howard and Ann Arundel counties are selling slightly better than the did last week. F...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
It seemed like just yesterday when someone told me they wanted to buy a three bedroom and two full bath home in the Laurel MD area for $250,000 or less.  I sighed and told the person, "You ain't gonna get much for that price.....if anything" Speed up to yesterday.  A lender approves my first time home buyer for $185,000.  My buyer wants to buy a three bedroom, two full bath home.  It has to be a detached home or a townhome, but she need a back yard for her dog. According to the computer, there are 45 homes that meet this buyers criteria!  Wow!  What a difference a year makes.  First time home buyers can not realize the dream of owning a home.  Its time to buy. For more information about great deals in Maryland, visit Maryland real estate.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
When showing Laurel real estate, I am often asked by buyers when is the best time to buy.  Everyone wants to know, is it better to buy in the Winter or the Spring? Well, the truth is, both times are a great time to buy.  In the Winter buyers have less competition for the inventory of homes out there.  Sellers tend to be more motivated if they have their home for sale during the Winter months. However, in the Spring you have more homes on the market.   Buyers have more choices.  But, there are more buyers in the Spring.  Buyers have more competition for the good homes out there.  Even in this buyers market some homes have multiple offers. So the best time to buy is when your budget fits a home you like. For more information about home buying in Maryland, visit Maryland real estate.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
The following information is updated as of 1/7/2009. Laurel Maryland is located in four different zip codes.  All four zip codes, except one,  reflect the continuing buyer's market in Laurel MD.  Prince Georges Laurel zip codes 20707 and 20708 both reflect numbers better than Prince Georges County on the whole.  In zip code 20707 sixteen percent of homes are selling the first thirty days on the market.  And in zip code 20708 twentyone homes are selling within the first thirty days on the market.   Both these numbers are above Prince Georges County Marylands thirteen percent Howard County Laurel MD is at fourteen percent of homes sold in the first thirty days. But the real surprise is Ann Arundel County Laurel Md.  Twentyfour percent of homes listed in zip code 20724 sell within thirty d...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Accoding to the Laurel Gazette, Laurel Maryland has three big items on its plate for 2009. The first item concerns slots.  As many of you know, voters approved slots in Laurel this past Fall.  About 60 percent of the voters approved of the measure that was supported by police and teachers.  The Gazette indicated the slots license should be issued for most likely Laurel Park this year. In addition, Laurel Commons Mall should be moving ahead with remodeling.  Despite tough economic times, the owners of the Mall are moving forward.  Demolition will begin as eary as today. And finally, the ambitious Konterra project will stay on the planning board, but should still make progress.  The paper printed that ground breaking could begin at the end of this year. These are some of the development w...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel Maryland is located in four different zip codes.  Each one of these zip codes has their own absortion rate.  Absorption rate is the percentage of homes that sell within the first thirty days.  An absortion rate of 23% or below is a buyer's market.  Laurel Maryland Prince Georges County has an overall absorption rate of 13%.  However, the two Laurel MD zip codes in Prince Georges  county are both higher.   Zip code 20707 has an absorption rate of 14%.  This is still a buyers market.  Surprisingly, Laurel zip code 20708 has the a rate of 24%.  This is the highest of the Laurel MD zip codes.  In fact, this rate of 24% is not a buyer's market....it is a transition market. A transition market, is a balanced market.  That is, supply and demand are almost equal. Laurel Md Howard county ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel Maryland real estate is located in four different Maryland counties.  Laurel city proper is located in Prince Georges county.  Both Howard county and Ann Arundel county hold large areas of suburban Laurel, Maryland. Montgomery county holds a part of a subdision of western Laurel. Each of these counties have their own absorption rate.  Absorption rate is the amount of homes that sell within thirty days of being on the market.  Any absortion rate below twentythree percent is a buyer's market.  The lower the percentage, the stronger the buyer market. Montgomery county has the highest absorption rate at 19%, followed by Prince Georges county at 13%.  Next is Howard county at 12%, with Ann Arundel county the lowest absortion rate at 10%. All four counties are very much a buyer's marke...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Some interesting numbers for home sales in West Laurel Maryland. From June 2007 to December of 2007 the average home price in West Laurel MD was approximately $412,000.  This past June 2008 to December 2008 that average price dropped over 18 percent to $335,000. These numbers are a clear indication that distress sales are affecting home values in West Laurel Maryland.  In the past, foreclosures and short sales were the exception and not used in assessing property values.  Now, however, foreclosures and shorts sales are a large part of the market. Not only in West Laurel, but everywhere. For more information about Maryland real estate, visit Maryland home sales.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Wow!  Glad thats over!  To survive Christmas in Laurel Maryland, I need to be in shape.  I love looking at the Christmas lights all around Laurel Md as I drive my neighborhood.  That part is easy. The hard part is dealing with all the food and parties and late nights.  I love Christmas.  I am just suprised at how much it wipes me out.  All the sweet food is a shock to my system.  I am surprised how many great bakers are in my church.  I have tasted some of the best cookies of my life this past Christmas at my church on Main Street in Laurel MD. Then ofcourse, there are the four different parties between Christmas Eve and Christmas.  Each party has numerous sweets and great food.  Around the parties there are several small stops within thirty minutes of Laurel. Throw in the service at my...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
This past week my chuch, First Unided Methodist in Laurel MD, participated in Winterhaven.  Winterhaven is an event sposored by local churches in the Laurel area to give the homeless a place to sleep on the coldest nights of the year. This year, I was one of the volunteers at my church.  I was happy to be helping any way I could and I encourage all who can, to do the same.  It is a very rewarding experience. However, I was stunned by what I saw.  So many of these men were bright and very competent.  Many of them had cars and cell phones.  But the real thing that surprised me was that many of them had jobs.  Yes, I am aware there are many working poor in this country, but it was still a surprise to see it up close.  Something seems so wrong about a man or woman who has a car, a cell phon...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
I am just amazed at the number of people in Laurel, Maryland who put up Christmas decorations outside their homes.  In addition, many of these people do a great job with the decorations.  Some homes must have thousand of Christmas lights in their front yard.  It would not surprise me if some of these people hired professionals to decorate their yards. Bond Mill Road in Laurel Md has many homes that are decorated.  From Route 198 to Riding Stable Road, Bond Mill is lit up like a Magical world.  Don't forget historic Laurel.  All those beautiful historic homes Montgomery Street, lit up like mini churches.  It is a great site to see. It is pretty festive around here, this time of year. For more information about Laurel Maryland real estate visit Laurel homes for sale.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
   2008    2007    % Change Total Sold Dollar Volume: $ 88,206,720 $ 131,493,067 - 32.92 % Average Sold Price: $ 264,885 $ 314,577 - 15.80 % Median Sold Price: $ 246,500 $ 308,000 - 19.97 % Total Units Sold: 333 418 - 20.33 % Average Days on Market: 141 103 36.89 % Average List Price for Solds: $ 307,127 $ 337,236 - 8.93 % Avg Sale Price as a percentage of Avg List Price: 86.25 % 93.28 % The chart above reflects a comparison of the houseing trends in November 2008 as compared to November 2007 for Prince Georges County Maryland.  Much of Laurel real estate is located in Prince Georges County Maryland. The numbers in the chart show the continuing downturn in the market.  Every catagory is down by at least nine percent.  The only increase is the number of days a listing sits on the market...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
   2008    2007    % Change Total Sold Dollar Volume: $ 2,394,500 $ 3,012,500 - 20.51 % Average Sold Price: $ 299,313 $ 376,563 - 20.51 % Median Sold Price: $ 285,000 $ 399,500 - 28.66 % Total Units Sold: 8 8 0.00 % Average Days on Market: 153 64 139.06 % Average List Price for Solds: $ 348,588 $ 397,656 - 12.34 % Avg Sale Price as a percentage of Avg List Price: 85.86 % 94.70 % The statistics above display the comparison between November this year in 2008 to the home numbers in November 2007 for Laurel MD 20724. November 2008 sold less dollar volume, lower average sale prices, a more than double increase in time on the market for listings and a bigger gap between average sale price as a percentage of list price.  One of the most significant numbers was the decrease in median sold pric...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
    2008    2007    % Change Total Sold Dollar Volume: $ 5,840,220 $ 2,944,580 98.34 % Average Sold Price: $ 389,348 $ 327,176 19.00 % Median Sold Price: $ 360,000 $ 299,000 20.40 % Total Units Sold: 15 9 66.67 % Average Days on Market: 105 94 11.70 % Average List Price for Solds: $ 415,928 $ 340,722 22.07 % Avg Sale Price as a percentage of Avg List Price: 93.61 % 96.02 %   Wow!  Look at whats happening to the housing market in Laurel MD 20723.  The above comparison between Novmember 2008 to November 2007 in Laurel MD 20703 shows an increase this November in: Total Sold Dollar Volume: almost double Average Sold Price: Up 19% Median Sold Price: Up 20.40% Total Units Sold: Up 66.67% Average List Price: Up 22.07% This is all great news for sellers.  The housing correction may be slowing ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Yipee for our first over night snow in Laurel Md! I have very busy weekend around Laurel Md.  Fortunately most of it is within ten minutes of my home in Laurel.  Last night we baby sat my 1 year old granddaughter for the first time.  It was great for us, but very nerve wracking for my daughter.  My daughter even called her around 2 a.m. in the morning. Next, I drive to a church on Laurel-Bowie Rd (Route 197) to rehearse for the Martin Luther King Jr. Sing in February.  The King sing is also in Laurel, please feel free to email me for details. Then I leave Laurel Md to visit Silver Spring Md and show property.   After that it is back to Laurel and to Main Street.  I will be chaperoning a dance at my church till about 11 p.m. tonite.  Again I am glad my church, First United Methodist Chur...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
  2008    2007    % Change Total Sold Dollar Volume: $ 2,885,000 $ 3,566,950 - 19.12 % Average Sold Price: $ 288,500 $ 324,268 - 11.03 % Median Sold Price: $ 295,000 $ 355,000 - 16.90 % Total Units Sold: 10 11 - 9.09 % Average Days on Market: 126 108 16.67 % Average List Price for Solds: $ 337,159 $ 354,427 - 4.87 % Avg Sale Price as a percentage of Avg List Price: 85.57 % 91.49 %   Laurel MD 20708 continues to feel the correction that most of the Maryland housing market is feeling.  The above numbers compare the housing market in Laurel Md 20708 from this past November 2008 with the last November 2007.  All the above catagories reflect downward trends in.  The total number of homes sold was about the same, but due to decreasing home prices the total dollar volumn was down almost twent...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
   2008    2007    % Change Total Sold Dollar Volume: $ 3,665,900 $ 3,741,700 - 2.03 % Average Sold Price: $ 281,992 $ 267,264 5.51 % Median Sold Price: $ 220,000 $ 245,000 - 10.20 % Total Units Sold: 13 14 - 7.14 % Average Days on Market: 144 94 53.19 % Average List Price for Solds: $ 326,162 $ 298,536 9.25 % Avg Sale Price as a percentage of Avg List Price: 86.46 % 89.52 %   Could home sales in Laurel Md 20707 indicate a calming of the waters?  I am not sure, but the home sales in Laurel Md do show some signs of a calming of the waters.  Above are the statistics compareing last November 2007 with this past November in Laurel MD 20707. Some of the numbers indicate we are still on our way down.  Average days on market increased over 50 percent.  The Median Sold Price dropped just over ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
It was a very frustrating Sunday night for us Washington Redskin fans who own Laurel real estate.  The Redskins lost to the Baltimore Ravens on Sunday night.  Due to the proximity to Baltimore and all those Raven fans, the loss was even harder to deal with.  After starting off the season with six wins and two losses, the Redskins have one win and four losses.  The Skins playoff hopes don't look good.  Even if the Redskins win all of their last three games, they may not make the post season. Whats wrong with the Washingtion Redskins? Well I think my wife knows.  As we watched the game, my wife kept pointing out that Jason Campbell seem not to have any time to pass the ball.  She also remarked that the Ravens quarterback seem to have all day to throw the ball. My wife is not very knowledg...
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