Has upswing in the sales of the real estate in AA County, has taken me by surprise this summer? No, not at all. I'm selling 80% vs 20% rentals right now. I'm not surprised, in watching the bond market, and what the FEDS are doing with the talk of halting the buy down of the interest rate; it makes sense. Why? ....people are scared they will miss the opportunity to purchase with a low interest rate. They are right to be concerned. Although we've preached "now is the time to buy" in the past two years, the public was spoiled with the constant talk of "low interest rates" being available. Now they're hearing "it's definitely going away".
Still many people have wanted to buy, but put it off for various reasons. Loss of job, not enough down payment (since 3.5% is required for FHA); and the do-away of the 80/20% or 100% financing available. Even though Realtor's have told the public, there are still 100% financing options (for first time home buyers). Even though, the housing market dropped making a then $500,000. home cost only $300,000. For example.
Another reason sales are picking up is (in my opinion) because people "need a home" and can't wait any longer to buy one. Still the best investment you can ever make; as a return on investment is a home purchase! Along with the only interest write off you can obtain. The American dream of home ownership: is that of privacy, enjoyment of space, stability of where you live, and a goal achievement of one's life performance. Everyone wants to own a home! If you rent, you can be uprooted by the owner at any time.
AA County has fabulous sales prices, for the fantastic water privleged areas that are reasonable. Where can you buy a single family home with 3 bedrooms, 2 baths and a .20 acre lot for $220,000 (apx) price tag? Not to mention good schools and lifestyle!
The Chesapeake bay is beautiful and we're lucky to live near it. Home, is where the Heart is! Get yours...before it's going to cost more!!! Call me at 443-278-3800 for a personal evaluation of buying or selling your home!
