Taking a look at the sales in the Howard County area we can say that there is an increase in number of sales over last year - exactly what is being reported in the news. The skinny is we had a 12% increase in sales over last year, however, it is important to also keep in mind that the price point has dropped. The average sale price has decreased almost 6%. That is letting us know that the buyers now think they are getting a deal and starting to act on it. The average days on market has substantially decreased to an average of three months! We are moving in a positive direction, but a few of the government decisions currently in place could drastically alter that starting as soon as next month, and unemployment is still extremely high. (historically, unheathy levels and very bad for the economy) We will keep an eye on the real estate market and keep you posted on what's happening!
Residential appraisers are warning that property values obtained through Zillow.com's automated valuation model are no more reliable than an estimate directly from the homeowner. In a statement today, the Appraisal Institute announced the results of a new study outlined in its quarterly newsletter. The study was conducted by Daniel R. Hollas, Ph.D., Ronald C. Rutherford, Ph.D., and Thomas A. Thomson, Ph.D. The researchers examined how Zillow's AVM estimates, or "Zestimates," compare to actual sales prices. The report focused on Arlington Texas, where the trade group said Zillow claims its AVM values have the highest level of accuracy. The study found that 40 percent of home in the sample were overvalued by Zillow by more than 10 percent when compared to actual sales prices. The Appraisal Institute cited other studies that said Zillow estimates exceeded actual values by 5 percent. The authors suggested that the disparity might be tied to the fact that Zillow ignores occupancy in its appraisals, "which has been shown to affect sale prices." "While Zillow is a helpful tool, it may not be more accurate than the owners' own estimates of value," the authors concluded. Source: Mortgage Daily
Ridgewood Estates, Ridge Woods - Announcing a price reduction on 7786 Kawshek Path, a 2,420 sq. ft., 2 bath, 4 bdrm colonial. Now 
MLS® $499,900 - CHECK THIS PRICE.
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Easy to Buy
• 1,080 sq. ft., 3 bath, 3 bdrm townhouse - MLS® $240,000 - Fabulous
Marble Hill, Elkridge - Great place to call home! Updated kitchen with new countertops, stove with double oven and hardwood floors. Updated bath, newer heat and air, new windows, new brick patio and new fenced yard! Cozy wood stove in basement, bath on every level and ready to move in! Call now to see this beauty!
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Your Private Oasis Awaits
• 2,420 sq. ft., 2 bath, 4 bdrm colonial - MLS® $525,000 - CHECK THIS PRICE
Ridgewood Estates, Ridge Woods - Compare and be AWED! A private 1 ACRE lot at the end of a cul-de-sac and totally updated! Check out the room sizes!! Wow, I am the one to call home! Start inside w/the absolutely gorgeous kitch w/granite tops & hdwd flrs! Upstrs are 4 generous sized bdrms & 2 super ba w/jetted tubs! Finish rec room perfect for home theater! Brand new architectual shingled roof!Large deck thats great for entertaining! Central location to Balt,&DC! Too many upgrades and amenities to list!! See it before it's gone!
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Convenient One-Level Living
• 1,279 sq. ft., 2 bath, 4 bdrm single story "Rancher" - MLS® $315,000 - Less than a Townhouse
Oakland Mills, Columbia - Relieve yourself of stress! This maintenance-free contemporary rancher comes with a FREE 1-year Warranty! Conveniently located in Columbia with garage, gorgeous hardwood floors, vaulted ceilings throughout, large and bright eat-in kitchen with breakfast bar, new stove and countertops. The furnace and A/C also new! Take advantage of the tax credit and the seller will give you an additional $8000.00 at settlement!
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Granite Counters and Brazilian Floors
• 4 bath, 3 bdrm townhouse - MLS® $339,900 - Price Check!
Village of Longreach, Columbia - Three finished level townhouse with roomy garage, bath on every level, granite countertops in country kitchen which also walks out to deck. Large living and dining rooms with Brazilian Cherry wood floors. Incredible deal and conveniently located!
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Available Immediately!
• 2 bath, 2 bdrm Townhouse- MLS® $1,400 USD Monthly
Parkview Trail, Woodlawn - This beauty is ready for immediate occupancy! Modern & updated, hardwood floors, cozy fireplace, fenced yard, and all appliances! Basement with full bath could be third bedroom. Take a look before it is gone!
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How to Start Out Smart!
• 2 bath, 3 bdrm townhouse - MLS® $215,000 - This Home's Got VAL-YOU!
Roberts Field, Hampstead - Need a place to call your own? This newly upgraded home ill allow you to move right in & have your friends envious w/the crisp "model-home" look! If you need extra money, just finish the basement for some instant equity! With a few polishing touches this home will shine! Call now for more details of how you can buy this home & put money in your pocket!
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• 3 bath, 4 bdrm 4-level split - 
MLS® $499,900 - Dare to Save Thousands!
Valley Crest, Lutherville-Timonium - Everywhere People Are Raving About These Amazing Government Incentives To Buy A Home NOW and You Can Get This One Under Market Value Without Dealing With A Foreclosure!! This home is being sold to settle an estate and therefore priced to sell. Get in before its too late! Call for additional information or to see the inside!
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2009 was another difficult year for many and the housing market struggled as well. But as the year came to an end and the finally reports tallied, it seems there is some light at the end of the tunnel. In comparing 2009 with 2008, we see that the days on market have decreased, and the number of sales have increased. These are positive steps in the right direction. http://www.mris.com/reports/housingsupply/Housing_Supply_Outlook.pdf
The tax incentives are still in place for sales from now until April 30th, but don't wait until the last minute. Latest news indicates rates will rise by April - up to 6%. Get in now if you can!
Feel free to contact me with any questions.
Spotlight This Beauty
• 3,000 sq. ft., 4 bath, 3 bdrm single story - MLS® $340,000 - Drum Roll Please
Russett, Maryland City - Put this home on the top of your list! One of the larger homes in the desirable Russett community! Fabulous 3000 square foot home for you, your family, and your car! Beautiful and neutral! Large formal dining room, eat-in kitchen, deck, super bath with sunken tub and separate shower, all appliances, lawn care included, - it is a MUST-SEE!
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| Your KEY News | January 2010 |
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Selling Your Home: Should
You Lower Your Asking Price?
By Sally Aquire
 Setting the right price is crucial when selling your home. If you overestimate the value of your house, you risk alienating potential buyers who will not be able to afford to buy it. On the other hand, pricing your house at far less than it is worth can leave potential buyers wondering whether it has hidden problems. Having your house professionally valued can help you to set a fair price, but what happens if this price is not fetching any buyers? At this point, homeowners... Read More |
| | What You Need to Know About Buying Short Sales
By John S. James
 "Short Sales" has become the buzzword of success in today's real estate market. In the prevailing economic slowdown, many homebuyers are failing to maintain their loan repayments. As a result, the lender has a choice between initiating a foreclosure proceeding, or letting the property be sold for an amount less than the mortgage against the property. Whenever the lender determines that it may be financially better for them to sell the property rather than opt.... Read More |
| | Snuggling Up to a Stove this Winter?
Courtesy of ARAcontent
 As the mercury drops and days get shorter, you may be snuggling up to a wood-burning stove to keep your tootsies toasty. With today's economy, alternative heat sources may become more popular as people try to minimize gas and electric bills.
While wood-burning and pellet stoves can be quaint and efficient, they can also be dangerous. To avoid injuries and damaged property... Read More |
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|  | |  | | How to File for the Latest Homebuyer Tax Credit
By Cheri Dohnal
 The homebuyer tax credit has undergone so many alterations that many people are no longer sure which homes and taxpayers qualify for it. Since it has been extended and expanded for a limited time, it's important that its newest provisions are understood even before the IRS releases the forms to claim it.
Important Tax Credit Updates
The expanded version of the credit is not limited to first-time buyers, although there is still a credit of up to $8,000 offered to first-time buyers. Now there is also a credit for "long-time residents" who buy a new home, and both credits have been extended into 2010... Read More |
| | Indoor Air Quality Concerns?
By Angela Epps
 Air purifiers can help.
They reduce air-born bacteria from mold, fungi and household chemicals found in many cleaners used in day-to-day house cleaning. These pollutants in your home’s air can aggravate asthma, allergies, and sinus problems, especially if your household has children or seniors. The EPA (Environmental Protection Association) estimates that the air inside your home can be up to ten times more polluted than the air outside the house. Along with reducing air-born bacteria, many air purifiers remove irritants such as pet dander, pollen, smoke, and dust (less house cleaning!) from your home’s air and make the air smell cleaner by noticeably reducing odors.
Which air purifier is right for you?
When considering using an air purifier in your home, make sure... Read More |
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| Debbi Rivero & Your Key Consultants - (410) 740-1200 x1029 | Your KEY News - January 2010 |
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Subscribe | | | | | First Name: | | E-Mail: | | | Last Name: | | Zip: | |
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I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.
Hope everyone has a Happy and Safe New Year!! |
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| Housing Inventory Snapshot | December 28, 09 |
| | Average List Price | Median List Price | Average Days On Market |
| Anne Arundel County, MD |
| Single Family under $500K | $329,284 | $325,000 | 156 |
| Single Family over $500K | $1,064,871 | $786,900 | 232 |
| Condo/Townhome under $300K | $189,991 | $205,000 | 139 |
| Condo/Townhome over $300K | $497,886 | $395,900 | 169 |
| Baltimore County, MD |
| Single Family under $500K | $282,700 | $269,000 | 142 |
| Single Family over $500K | $952,125 | $675,000 | 194 |
| Condo/Townhome under $300K | $170,047 | $165,000 | 129 |
| Condo/Townhome over $300K | $452,483 | $369,900 | 123 |
| Carroll County, MD |
| Single Family under $500K | $334,679 | $329,900 | 158 |
| Single Family over $500K | $822,636 | $669,000 | 245 |
| Condo/Townhome under $300K | $192,085 | $194,900 | 120 |
| Condo/Townhome over $300K | $351,716 | $329,900 | 117 |
| Frederick County, MD |
| Single Family under $500K | $296,050 | $294,990 | 169 |
| Single Family over $500K | $797,834 | $650,000 | 198 |
| Condo/Townhome under $300K | $187,255 | $179,900 | 123 |
| Condo/Townhome over $300K | $415,869 | $359,990 | 258 |
| Howard County, MD |
| Single Family under $500K | $378,941 | $389,900 | 144 |
| Single Family over $500K | $842,121 | $719,900 | 196 |
| Condo/Townhome under $300K | $209,138 | $215,000 | 123 |
| Condo/Townhome over $300K | $404,269 | $362,500 | 103 |
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| MORTGAGE. National Averages (December 28, 09)* | |
| 30-year fixed | Rate - 5.37% | APR - n/a% | |
| 15-year fixed | Rate - 4.65% | APR - n/a% | |
| Bitmap | Rate - 4.39% | APR - n/a% | |
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| * Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary. |
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| If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process. |
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| Debbi Rivero @ Re/Max Advantage |
| Re/Max Advantage |
| Direct (410) 988-4240 |
| Office (410) 740-1200 ext. 1029 |
| Cell Phone (443) 386-1306 |
| Fax (410) 740-1293 |
| debbi.rivero@yourkeyconsultants.com |
| www.homesforsaleinhowardcounty.com |