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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 05-02-2007, 08:16 PM
 
1 posts, read 4,059 times
Reputation: 10

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From what I've been reading, it looks like the real estate climate in Maryland is starting to become a buyer's market.

We will be moving to the DC area sometime between July and September, and we plan to buy a home in southern Anne Arundel County, Calvert County or Charles County. Should we start looking for a home right away, or could we possibly get a better deal if we start shopping in the fall?

Does the Maryland/DC-area real estate market fluctuate or remain relatively steady? Is there a "busy" real estate season and a "slower" real estate season that may affect the following:

- how long homes stay on the market
- concessions sellers are willing to make such as reducing their listing price, contributing to closing costs or providing a one-year home warranty, etc.

In general I've heard that more homes sell in the summer because...
- families prefer to move when their kids are out of school
- people are in a better mood to shop during warmer weather
- homes look better when landscaping is in bloom and lawns are green

And fewer homes sell in the fall and winter because...
- school is back in session and people don't want to uproot their kids
- people are focused on other family, financial and work priorities like holiday travel, gift buying and attending or hosting gatherings/celebrations

Is this somewhat accurate or is this not true for Maryland and the DC area?

Thanks!
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Old 06-04-2007, 07:33 PM
 
10 posts, read 57,946 times
Reputation: 12
The market right now has a buyer's advantage. Season has nothing to do with it. Builders are offering special packages right now!
E-mail me if you want info about Calvert County homes. Not sure where you need to be.
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Old 06-04-2007, 08:19 PM
 
Location: Stuck on the East Coast, hoping to head West
4,641 posts, read 11,950,599 times
Reputation: 9887
I'm in AA county, outside of Annapolis and I really can't tell a difference in seasons. I know in my neighborhood prices are holding steady and/or increasing. I also noticed that once local agents started saying it was a buyer's market that there are far fewer houses on the market than I've seen in past years. I also know that my neighbors who have listed are optimistic especially b/c of the incoming jobs to Ft Meade and NSA which are fairly close to me. In my neck of the woods, the people who are selling seem to be content to wait the extra days to get their price. Regarding help with closing costs and home warranties, I'm not sure. All I see are the prices the house sold for.

I'm not an agent or anything, but planning to sell my house at some point so I've been watching locally and have noticed that in the summer there are more houses for sale so more choices for potential buyers. Last winter there were far fewer homes listed so the choices were limited, but the houses didn't seem to sell any slower. One sold the second week in January which really surprised me. And this might be coincidental, but the two houses in my neighborhood that sold over the winter were the "iffy" houses. i.e. one was on a busy corner. I wondered if they actually planned to put their house up over the winter so they'd have less competition. Gee, I'm a lot of help, aren't I

Also, I think each county is very different--I'd even say each zipcode is unique. DC is definitely an entirely different animal.

Not familiar with Charles or Calvert counties. Good luck.
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Old 06-05-2007, 09:43 PM
 
Location: Maryland
143 posts, read 871,847 times
Reputation: 42
I work for Remax which is in Anne Arundel county. (Don't deal with Charles or Calvert..) I think Bande1102 wrote similar to what I see in the market. Anne Arundel county is in a buyer's market. As for negotiating, you gotta give a little to get some, but generally are in the buyer's favor especially with many homes sitting on the market longer.

From a long-term investment standpoint, there is much undergoing development such as new constuctions in residential, but also commercial growth and the military base Fort Meade.

Location, Location, Location. There are many major employers located in Anne Arundel county, and home of Annapolis, the state's capital. AA county is also located between Baltimore and DC providing a reasonable commute time for both.

My father also commuted to DC via the train station that takes you straight to DC while living in AA county. He didn't have to hussle in traffic and find parking.

If you are thinking about AA county, let me know and visit my website Christina Yoon - Maryland Homes & Real Estate: MLS. Let me know if I can be of further help.
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