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The Baltimore Real Estate Market Is Buzzing!
Manage episode 154493296 series 1124670
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There are many great Baltimore area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (410) 638-9555 for a FREE home buying or selling consultation to answer any of your real estate questions.
I would like to take a minute to wish everyone a happy New Year! I hope your holiday was fantastic. Since the holiday season, we've experienced a booming housing market here in Baltimore.
We're seeing an extremely busy market from buyer activity and low inventory. It's busier than usual because it's warm outside and interest rates are going up. Last month, the Feds raised their rates 0.25%. While this hasn't affected mortgage rates yet, they are predicted to continue to climb over the next couple quarters.
A 1% interest rate increase might not seem like much, but if you're a buyer, you're purchasing power goes down 10%. That means if you're looking at $300,000 homes and the rates go up 1%, you can only afford to look at $270,000 homes. Take advantage of the market now while rates are still low.
Inventory is a little dismal right now. However, more homes are coming onto the market now that the holidays are over. Homeowners have been prepping their properties for the market over the winter to list in the spring.
If you're thinking of selling, my team and I can do a market analysis for you to go over. We also offer marketing, staging, and professional photography. We recently added a Matterport Camera, which allows home buyers to take a 3D tour of your property online.
If you're thinking of buying, we also have access to a lot of homes that are not on the market. We work with Wells Fargo foreclosures and investors who rehab and sell homes, so we have access to those as well.
Finally, if you have any real estate questions at all, give us a call or send us an email. We would be happy to help you!
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