Germantown Real Estate News & Market Updates for the week of 11/15/2012

 

There are currently 119 Properties currently available in Germantown Maryland for Montgomery County in Maryland

 

Other good news overall for the whole country is about foreclosures. .

Realty Trac has reported just recently that foreclosure filings felt to a 5 year low!

We are on our way to recovery

The caveat for homeowners in our area still remain a high probability that their homes are still underwater
Don't expect prices to shoot up to 2005 levels in the near future. .
There is a sense of more disciplined healthy market growth and slow in this case is good for the economy. Home values growth will be directly proportional  at the reluctance of appraisers to increase their opinions and keep them constricted no matter what the buyers want to pay.

I can tell you that we have experienced this first hand in the last 7 days. Two of our closings were halted because of the appraisals coming way too low.


Prices of homes are going up because of the low inventory. .but only for certain price ranges. The luxury real estate remains stable . . but there are fewer people buying homes above the $750,000 and up range.

Mortgage rates at still or near record lows. This is good indication that we are still going upwards and I caution not to expect this to remain as it is. .if you are near teh decision to buy a house, you shoudl do so now.

There is no bottom of the market anymore. . .you'll  have to wait for the next recession if you want to see it again. . .better luck next time!

The  inventory shortage has whipped up a buyer frenzy in our local market. .specially in the lower range properties.
Bidding wars and price increases are coming from all angles. .
From apartment renters that are finding mortgage payments to be LOWER than their monthly rentals
To the lucky ones in position to buy and upgrade their housing.

          

The average increase in home values remains  constant in the Washington Metropolitan Area

In average overall we should see around 7% to 10% total gains from 2011.


Affordability still is an issue in Montgomery County
The median Value of owner-occupied housing in Montgomery County is $482.900
yet
The median per capita  income money is $47,310
Direct data taken  from Census.Gov
That's TEN TIMES the average housing vs income per capita
In Florida the median per capita is around $25,000
Only 5 times that. . buys them a house OVER the median value in Florida (around $125,000)
try doing the same here in Montgomery County and you will be lucky to get a condo at that price.

Our market is dependent in the affordability range. .like it or not


Until we achieve a balanced real estate market in our area. .prices will continue to be stagnant in the high end.

The most dramatic data for October 2012 is the change of SOLD DOLLAR VOLUME
A change of 23.61 %
A great representation in the condition of our local market
As you can see below: 
                                                                                

Search All Germantown Homes For Sale here

The most expensive active home for sale in Germantown is:

13301 MANOR STONE DRIVE, Germantown MD 20874

$2,495,000

13301 MANOR STONE DRIVE, Germantown

"Greenheath" - a magnificent estate constructed by master builder Patrick Cullinane, available on 5 or 10 acres. Two story marble ...

  • Beds 7
  • Baths 10.0
  • MLS MC7890379
  • SqFt. 12,750

    The least  expensive active home for sale in Germantown is:

    19625 GUNNERS BRANCH ROAD Unit #A, Germantown MD 20876

    $85,000?

    19625 GUNNERS BRANCH ROAD Unit #A, Germantown — Greenfield Comm

    Very nice condo, rebuilt in 1998 from ground up. 2 bedroom 2 bath. 1 Assigned Parking Space. Close to Transportation.

    • Beds 2
    • Baths 2.0
    • MLS MC7956190
    • SqFt. 838

     

    Foreclosure active homes for sale in Germantown:

     

     

    12039 PANTHERS RIDGE DRIVE, Germantown MD 20876

    $374,900

    12039 PANTHERS RIDGE DRIVE, Germantown

    Spacious freshly painted end-unit townhouse. Finished walkout basement with full bath rough-in. Family room, kitchen center island...

    • Beds 3
    • Baths 3.0
    • MLS MC7961746

     

    18928 GROTTO LANE, Germantown MD 20874

    $219,900

    18928 GROTTO LANE, Germantown

    GUESS WHAT? The time for change is now. You've been waiting, watching and wondering when the perfect opportunity would arrive and ...

    • Beds 3
    • Baths 3.0
    • MLS MC7953749
    • SqFt. 1,344

     

    19712 TEAKWOOD CIRCLE Unit #70, Germantown MD 20874

    $167,000?

    19712 TEAKWOOD CIRCLE Unit #70, Germantown — Willow Cove Mnr

    lots of space in this 3 level townhome, master bedroom suite, 2 full baths, full size washer and dryer, not a short sale, quick re...

    • Beds 3
    • Baths 3.0
    • MLS MC7869282
    • SqFt. 1,374

     

    $96,000

    13502 DERRY GLEN COURT Unit #101, Germantown — Ashmore At Germn

    Patio level condo offers 1 bedroom and 1 bath...gourmet kitchen separate laundry room. Possible mold. This is a hud home store fo...

    • Beds 1
    • Baths 1.0
    • MLS MC7898931
    • SqFt. 767

     

    Latest Listings in Germantown Maryland as of 11/15/2012



      The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2012. Last updated: October 15, 2012

       

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      Germantown Real Estate News & Market Updates for the week of 11/15/2012