Laurel, MD Real Estate News

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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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel MD real estate showed an increase in third quarter sales 2008 over 2007 third quarter sales.  Laurel zip code 20707 had 89 home sales in the quarter.  That is an increase of over 17% from last year.  In Laurel MD zip code 20708, thirtyseven homes were sold this past quarter.  That is a significant increase of over 54%!  Even Beltsville Md, right next to Laurel MD, had an increase of over 29%. Prices continue to fall in Laurel.  The decrease in home prices is probably a contributing factor in the increased sales.  More affordable homes allow more buyers to purchase.  In addition, both agents and banks are getting better at handling distress sales like foreclosures. For more information, visit Maryland real estate.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
What makes an area a good bargain for a home buyer?  Well, if you ask me, the area has to have good value. Location, schools, a neighborhood that takes care of itself and all this at an affordable price.  I think Laurel Maryland real estate has all these. The amount of inventory in Maryland real estate may be a place for the savy buyer to begin his search.  Lets look at two counties in particular.  Montgomery County Maryland has a four month inventory of homes.  Prince Georges County Maryland has just over a seven month inventory. Based on the facts above, it may apprear that Montgomery County is the more disirable place to live, because scarcity adds value.  Montgomery County is a great place to live, but lets look at this a little closer. Buyers have more choices in Prince Georges Cou...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
There is a suprising statistic in Laurel real estate.  Almost half the sales in Laurel MD over the last thirty days have been either a foreclosure or a short-sale.  Twenytone homes sold in Laurel MD. Ten of the sales were either a foreclosure or a short-sale.  That is almost fifty percent! Buyers, in Laurel MD, need to be prepared to buy a distress sale.  Most of the time a foreclosure is a good deal.  Just remember that the price you pay for the property may be its true worth.  By this, I mean you may not be buying a home below the market value.  The foreclosure price may be a more accurate reflection of the value of homes in that neighborhood. And buyers also need to remember to be more patient with foreclosures and in particular short-sales.  Banks tend to operate more slowly than a ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Prince Georges County is home to two Laurel real estate zip codes.   Zip codes 20707 and 20708 Laurel MD. Laurel MD 20707 has more townhomes than Laurel MD 20708.  Zip code 20707 homes are selling at about 87 percent of list price and in 20708 they are selling at about 90 percent of list price.  For Laurel MD 20707, the percentage of sales price to list price has dropped five percent, since last October.  Average sale price in 20707 is 239K and in 20708 it is around 315K. The difference in average price can be attributed to the fact that Laurel MD 20708 has more single family homes.  Both zip codes have seen a decline in housing values similar to most of Maryland. For more information visit Maryland real estate.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Do you know the difference between sales price and list price?  Many of my clients who consider purchasing or sell Laurel real estate are not quite sure.  Many sellers see the list price of home in their neighborhood and think that is the actual value of the properties for sale.  This is an incorrect assumption.  The final sales more accurately reflects the value of homes in Laurel MD 20707.  There can be a big difference between list price and sales price. A home that is listed for sale in Laurel MD at $350K, may actually sell for $290K.  The $290K is the actual sales price and reflects the value of homes in the neighborhood.  The difference between the list price and the sales price is actual referred to in a ratio.  In the preceeding example  $290K is 83% of $350K.  Therefore the Sal...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
For those of us living in Laurel MD, that was a tough game to watch on Sunday.  The Giants dominated the Washington Redskins.  Whenever the Giants had the ball they seem to hold on to it forever.  The Redskins on the other hand, seem to love going "three and out" I was talking with my brother Terry the other day about how the Redskin Dallas game could have been a statement game for the Skins.  He said it was a statement game for the Redskins and the statement was, "The Redskins are not as good, as we first thought". Hard to argue with that.   Right now the Redskins appear to be trailing both Dallas and the resurgent Atlanta Falcons for a playoff spot.  I would love to see the Redskins make the playoffs, but I guess right now, I would just like to see some improvement on the offense. I t...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
I did it!  I ran an entire 5K on Thanksgiving morning!  Yea for me!  Me and about 388 or my closest friends participated in the fourth annual Turkey Trot 5k run in Laurel MD. This years event was the biggest yet and probably raised almost ten thousand dollars for the Laurel Advocacy and Referral Service, better known as LARS.  LARS helps the homeless and those in need of money in Laurel MD. But back to me.   I participated in this event last year.  Last year I weighed over 40 pounds more than I do now.  I was only able to walk/run the race. I was not able run the entire time.  This year I set a goal of running the the entire race....no walking. I was successful in achieving my goal.  In addtion, I knocked off six mintues from last years time. I still have a long way to go, but next year...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
I have just finished my calculations of the Absorption rates for all four Counties that Laurel Maryland resides.   The four counties are Montgomery, Prince Georges, Howard and Ann Arundel in Maryland. To review, the Absorption rate for an area indicates the percentage of homes selling every thirty days.  The formula to figure out the Absorption rate is to add all active listing in an area with the pending sales.  This grand total is then divided into the pending sales number.  The resulting fraction is then converted to a percentage. An example: Laurel MD Prince Georges County has 90 active listings and 10 pending sales.  Add the two together  which equals 100 then divide the pending sales, 10, by the total of active and pendings, 100.  The resulting decimal of .10 is then converted to ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
I have been studying the Absorption rate for Laurel MD real estate.  The Absorption rate is the percentage of homes in a given area that sell within the first thirty days they are on the market. Laurel, Maryland real estate is located in four different counties.  Those counties are Montgomery, Prince Georges, Howard and Ann Arundel counties.   Prince Georges County Laurel is divided between the two zip codes 20707 and 20708.  The Absorption rate in 20708 is higher than in 20707 at 19% and 13% respectively.    That is to say that homes are selling faster in zip code 20708 than they are in 20707.  What is surprising to me is that the Absorption rate in Howard County is at 10%.  This number is significantly below the two Prince Georges zip codes.  Homes are selling faster in Prince Georges...
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By Fernando Herboso - Associate Broker MD, & VA, 301-246-0001 Serving Maryland, DC and Northern VA
(Maxus Realty Group of Samson Properties )
Fernando Herboso RENT TO OWN    LEASE with Option To Buy for  Maryland DC and Virginia   Customer Inquiry   Fernando, Can you help us find a place for rent to own in Laurel Maryland ?   Thank you for contacting us  about renting with an option to buy.   I'm enclosing a few properties that are being offered as a Rent Option To Buy  in Laurel MD   HERE ARE THEY   Please understand that properties with option to buy may no be available in the areas of your choice. .you may have to compromise and consider other areas as well.   Also,  I would like to touch a little more about what exactly is a Rent With Option To Buy.   What is "Rent with Option to Buy"?Herboso & Associates offers this program to help customers become homeowners. Our Option to Buy Program is unique compared to most Option ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
In Prince Georges County, Laurel MD the Absorption rate is different in the zip codes 20707 and 20708.  The Absorption rate is the percentage of active homes that sell in the first 30 days they are on the market. In Laurel MD zip code 20707 there are 135 homes for sale with 21 currently under contract.  This results in an Absorption rate of 13%.  This means that 13% of the homes on the market in Laurel MD zip code are selling in the first 30 days they are listed to sell. In the other Prince Georges County Laurel zip code 20708, there are 69 homes currently on the market.  In addition there are 16 homes currently under contract.  This leads to an Absortion rate of 19% in zip code 20708. If an Absorption rate is below 23% in a particular market, that market is in a buyer's market.  Buyers...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Homes are selling in Laurel MD.   Laurel MD in Prince Georges County Maryland is averaging one home sold every day over the last thirty days!  Some of these homes have even sold for for full price.  Many of these homes are foreclosures.  Many agents and buyers prefer not to work with foreclosures for two reasons.  First, some banks are just hard to work with.  Banks may not want to do much negotiating.  Sometimes that banks position is, ' take at "as-is" and thats it'.  Sometimes the listing agent can not get a timely response from the bank. This delays causes all parties to be concerned and may kill a deal. Second, some lenders for the buyer fear the condition of the home.  Some foreclosures are in such bad shape, the buyer's lender will not approve the loan unless repairs are made.  M...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
One of the nice things about livining in Laurel Maryland is being only about 20 minutes from the Inner Harbor in Baltimore Maryland.   The time it takes me from my front door to travel to Camden Yards and parking my car and walking into the stadium is about 30 minutes total.  Living in Laurel MD, I discovered the Inner harbor and its many features.  The rest of down town Baltimore MD is pretty cool as well. During the holidays Downtown Baltimore Maryland offers visits to many of attractions for just $1.00 each venue.  This event takes place on December 6th this year.  It is a great opportunity to see so much of what Baltimore MD has to offer.  For more information on this event visit GodowntownBaltimore.com And visit Maryland homes for sale for more information about Maryland real estate
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
The other day I was looking up property for a client in Laurel real estate area.  I checked Laurel MD and the surrounding neighborhoods.  I was shocked at what I was finding! Large homes, with five bedrooms, two car garages in relatively new neighborhoods for less than $300K!  These homes were pushing half a million just two years ago.  Yes, this particular property was a short sale, but even I feel it would be worth it to endure the process. This phenomenon is taking place not only around Laurel MD, but also next door in Montgomery County MD.  I found the same type of values in Montgomery County.  Man, do I wish I had some disposable cash.  Ofcourse, it is pretty sobering to think of how much the value in my own house has dropped. Anyway, these deals are too good to pass up.  Buyers sh...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
A deadline is fast approaching for first time home buyers of Laurel real estate.  This deadline affects anyone seeking to buy Maryland real estate. The loan limits for FHA have been announced. Any loans under the temporary limits must close by the end of December.  January 1, 2009 the new loan limits will go in to effect.  Anything over $417,000 will be considered "FHA JUMBO" for pricing.  Don't forget that the down payment is also increasing to 3.5%. Currently on FHA loans, the buyer only needs to contribute a total of 3.0% towards the purchase of their first home.  If you are considering buying any Laurel real estate or any Maryland real estate, the time to act is now. FHA loans are great products because they are not affected by declining markets and have low interest rates.  Many of...
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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: $ 111,479,143 $ 149,411,291 - 25.39 % Average Sold Price: $ 273,233 $ 317,221 - 13.87 % Median Sold Price: $ 260,000 $ 302,300 - 13.99 % Total Units Sold: 408 471 - 13.38 % Average Days on Market: 136 104 30.77 % Average List Price for Solds: $ 310,501 $ 341,221 - 9.00 % Avg Sale Price as a percentage of Avg List Price: 88.00 % 92.97 % Above are the statistics of October 2007 as compared to October 2008 in Prince Georges County MD.  As you know, some of Laurel real estate is in Prince Georges County MD.  These results also reflect the downward trend of home prices in Maryland real estate.  The market continues to correct itself.   Average Sold prices in Prince Georges County have moved down well into the mid $200,000s.  Average time on m...
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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: $ 2,840,400 $ 4,460,000 - 36.31 % Average Sold Price: $ 315,600 $ 405,455 - 22.16 % Median Sold Price: $ 315,000 $ 399,000 - 21.05 % Total Units Sold: 9 11 - 18.18 % Average Days on Market: 186 142 30.99 % Average List Price for Solds: $ 349,633 $ 442,509 - 20.99 % Avg Sale Price as apercentage of Avg List Price: 90.27 % 91.63 % Above are the statistics for home sales from last October of 2007 and this past October of 2008.  These numbers are for Laurel MD 20708.  As you can see the numbers still reflect a downward trend in the Laurel  real estate market. The most stunning numbers to me are in the average sold price catagory.  The average sold price in Laurel MD 20708 from last October as compared to this October is a drop of $90,000...
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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: $ 5,093,200 $ 6,155,700 - 17.26 % Average Sold Price: $ 231,509 $ 279,805 - 17.26 % Median Sold Price: $ 220,500 $ 249,950 - 11.78 % Total Units Sold: 22 22 0.00 % Average Days on Market: 115 95 21.05 % Average List Price for Solds: $ 266,504 $ 301,585 - 11.63 % Avg Sale Price as apercentage of Avg List Price: 86.87 % 92.78 % Above you will find the housing sales for Laurel real estate zip code 20707 in Laurel MD.  The numbers above compare this years Ocotober figures with last years October figures.  As you can see, in Laurel MD zip code 20707 the numbers are lower this year as compared to last year.  The average price for sold from last year to this year is down almost $50,000.  The list price to sales price ration is down to 86....
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
When shopping for Laurel real estate or any Maryland real estate, there is something every buyer needs to know.  Those great prices you see out there, the ones that are real low......the lowest of the low....are not move-in ready. Thats right!  A house for sale at $200,000 in a neighborhood that normally sells for $300,000 is probably not going to be in good shape.  You will probably need to put some money into it before you move in.  Sometimes you wont even get the loan because the lender feels the house needs to much work.  The fantasy of the foreclosure/short-sale immaculate home at a rock bottom price that the seller has to sell, is just that, a fantasy.  In addition, this foreclosure/short-sale home transaction is gonna have a few bumps along the way to settlement.  You, the buyer,...
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