HISTORY OF REAL ESTATE IN
MARYLAND AND NORTHERN VIRGINIA.
HOMES PRICES FOR MID-2012.
All stats below represent Detached Single Family homes for sale.
Virginia
Alexandria City - The average list price for homes in Alexandria is $1,216,770. The average age is 64 years old. Known to residents as "Old Town". Alexandria Old Town is a popular location for home owners who wish METRO to DC or access to Ronald Reagan National Airport.
Caroline County, The average list price is 232,313. The average age is 33 years old. Rural and priced well. Popular with home owners who work in Northern Virginia.
Clarke County, The average list price for Clarke County homes for sale in $595,633. The average age is 42 years old. Easy commute to Northern Virginia employment and Dulles International Airport.
Culpeper County, Virginia. The average age for homes for sale in Culpeper County is 374,109. The average age is 29 years old. As with other counties in the "outer suburbs,
Fairfax County, Virginia offers a variety of styles and prices to home buyers. The average list price for homes for sale in Fairfax County is $1,134,967. The average age is 30 years old. Popular public schools and easy access to Washington D.C. Home to high tech companies in McLean and Vienna.
Falls Church is an incorporated city within Fairfax County. The average list price is $930,047 and the average age is 65 years old. METRO is an advantage with two stations here. Highly ranked public schools.
Fauquier County, The average list price in Fauquier County Virginia is $948,803. The average age is 40 years. Just a short commute to Fairfax County employment centers.
King George County, has an average age of homes for sale of $358,021 and the average age is 26 years old. Price affordability and water front homes are popular.
Loudoun County, Virginia, which for the past 7 years has been the fastest growing county in the United States, is still growing and appealing to home buyers along the Dulles Corridor. The average list price for homes for sale in Loudoun County is $889,353 and the average age is 26 years. Loudoun County offers popular public schools and a minimum of commuting traffic.
Prince William County, Virginia has an average list price of $447,695 and the average age is 18 years. Popular with military stationed at Ft. Belvoir and Quantico.
Spotsylvania County, Virginia has a list price of $411,845 and the average age is 18 years old. Priced well and vigorous new home building.
Stafford County, Virginia is the most dynamic and fast-growing area in the eastern part of Northern Virginia along the Route 95 corridor. The average list price of homes for sale is $403,841 and the average age is 19 years old.
Maryland.
THE REAL ESTATE MARKET IN MARYLAND has changed dramatically since the home sale frenzy of 2004-2007. Prices have gradually come down to the levels of 2003 and mortgage interest rates are about the lowest in history.
Anne Arundel County -The average list price is $625,000 and the average age of homes listed for sale is 35 years old. Waterfront abounds in this rural county.
Calvert County - The average list price is $400,993. The average of homes for sale is 24 years old. Waterfront homes and priced well.
Carroll County -The average list price is $430,182. The average age of homes for sale is 36 years old. Rural area with a growing employment picture.
Cecil County -The average list price is $364,967. The average age of homes for sale is 34 years old. Waterfront and affordability bring buyers to this area.
Charles County -The average list price is $358,580. The average age of homes for sale is 26 years old. Very popular with military stationed at Andrews AFB.
Harford County -The average list price is $385,283. The average age of homes for sale is 31 years old. Affordability brings buyers to Harford County.
Frederick County -The average list price is $442,042. The average age of homes for sale is 38 years old. Rural county with good prices since it's commutable to Montgomery County and D.C.
Howard County - The average price of homes listed for sale in Howard County is $655,492. The average age of homes for sale is 23 years old. Popular luxury home market for Maryland. Convenient to D.C. and Baltimore.
Montgomery County -The average list price of homes for sale is $908,064. The average age of the homes for sale is 36 years old. Has a price range for every one and a vigorous luxury home market. One of the highest ranked public schools in the nation.
Prince George's County -The average list price of homes is $297,687. The average age of the homes for sale is 40 years old. Convenient to D.C. Price is affordable.
St. Mary's County -The average list price of homes for sale is $375,539. The average age of homes for sale is 26 years old. Waterfront and good prices bring folks to St. Mary's.
Washington County -The average list price of homes for sale is $263,587. The average age is 54 years old. Affordability and rural atmosphere make Washington County popular.
List Prices for Single Family Homes SOLD in Northern Virginia during September 2009.
Alexandria Old Town
20 Single Family Homes sold in Alexandria in September 2009.
The highest list price was $1,200,000.
The lowest list price was $298,000.
The average list price sold was $713,772.
Arlington County (City)
78 Single Family Homes sold in Arlington County in September 2009.
The highest list price was $2,295,000.
The lowest list price was $275,000.
The average list price sold was $716,490.
Clarke County
11 Single Family Homes sold in Clarke County in September 2009.
The highest list price was $4,900,000.
The lowest list price was $133,900.
The average list price sold was $650,000.
Culpeper County
58 Single Family Homes sold in Culpeper County in September 2009.
The highest list price was $625,000.
The lowest list price was $55,000.
The average list price sold was $211,891.
Fairfax County
639 Single Family Homes sold in Fairfax County in September 2009.
The highest list price was $3,499,999.
The lowest list price was $125,000.
The average list price sold was $566,250.
Fauquier County
59 Single Family Homes sold in Fauquier County in September 2009.
The highest list price was $549,000.
The lowest list price was $61,014.
The average list price sold was $281,793.
King George County
22 Single Family Homes sold in King George County in September 2009.
The highest list price was $799,500.
The lowest list price was $106,700.
The average list price sold was $264,160.
Loudoun County
225 Single Family Homes sold in Loudoun County in September 2009.
The highest list price was $5,650,000.
The lowest list price was $130,000.
The average list price sold was $515,447.
Prince William County
363 Single Family Homes sold in Prince William County in September 2009.
The highest list price was $1,150,000.
The lowest list price was $66,500.
The average list price sold was $307,755.
Spotsylvania County
131 Single Family Homes sold in Spotsylvania County in September 2009.
The highest list price was $885,000.
The lowest list price was $79,000.
The average list price sold was $227,462.
Stafford County
119 Single Family Homes sold in Stafford County in September 2009.
The highest list price was $579,000.
The lowest list price was $64,900.
The average list price sold was $274,571.
Market Report for Maryland Real Estate through September, 2009.
List Prices for Single Family Homes SOLD in Maryland in the Homefinders.com market areas through September 30, 2009.
Anne Arundel County
336 Single Family Homes sold in Anne Arundel County in September 2009.
The highest list price was $1,950,000.
The lowest list price was $89,900.
The average list price sold was $411,682.
Baltimore County
359 Single Family Homes sold in Baltimore County in September 2009.
The highest list price was $1,295,000.
The lowest list price was $63,900.
The average list price sold was $306,444.
Calvert County
63 Single Family Homes sold in Calvert County in September 2009.
The highest list price was $750,000.
The lowest list price was $85,900.
The average list price sold was $329,287.
Carroll County
99 Single Family Homes sold in Carroll County in September 2009.
The highest list price was $799,900.
The lowest list price was $47,500.
The average list price sold was $318,546.
Cecil County
55 Single Family Homes sold in Cecil County in September 2009.
The highest list price was $799,000.
The lowest list price was $57,000.
The average list price sold was $279,673.
Charles County
101 Single Family Homes sold in Charles County in September 2009.
The highest list price was $910,000.
The lowest list price was $121,600.
The average list price sold was $301,791.
Frederick County
141 Single Family Homes sold in Frederick County in September 2009.
The highest list price was $1,970,000.
The lowest list price was $85,000.
The average list price sold was $336,955.
Harford County
121 Single Family Homes sold in Harford County in September 2009.
The highest list price was $799,900.
The lowest list price was $32,000.
The average list price sold was $336,894.
Howard County
131 Single Family Homes sold in Howard County in September 2009.
The highest list price was $1,200,000.
The lowest list price was $209,900.
The average list price sold was $506,660.
Montgomery County
472 Single Family Homes sold in Montgomery County in September 2009.
The highest list price was $2,795,000.
The lowest list price was $69,900.
The average list price sold was $562,377.
Prince George's County
511 Single Family Homes sold in Prince George's County in September 2009.
The highest list price was $1,050,000.
The lowest list price was $19,900.
The average list price sold was $241,039.
St. Mary's County
71 Single Family Homes sold in St. Mary's County in September 2009.
The highest list price was $566,092
The lowest list price was $75,000.
The average list price sold was $289,551.
Washington County
79 Single Family Homes sold in Washington County in September 2009.
The highest list price was $599,900.
The lowest list price was $64,900.
The average list price sold was $197,320.
List Prices for Single Family Homes for Sale in Maryland as of June 30, 2008
Anne Arundel County
267 Single Family Homes sold in Anne Arundel County in June 2008
The highest list price was $3,999,000.
The lowest list price was $142,200
The average list price sold was $537,450
Baltimore County
254 Single Family Homes sold in Baltimore County in June 2008
The highest list price was $3,490,000.
The lowest list price was $110,000
The average list price sold was $406,086
Calvert County
37 Single Family Homes sold in Calvert County in June 2008
The highest list price was $664,900.
The lowest list price was $160,000
The average list price sold was $393,813
Carroll County
79 Single Family Homes sold in Carroll County in June 2008
The highest list price was $999,999.
The lowest list price was $162,500
The average list price sold was $389,766
Charles County
65 Single Family Homes sold in Charles County in June 2008
The highest list price was $1,099,000.
The lowest list price was $170,000
The average list price sold was $361,866
Frederick County
101 Single Family Homes sold in Frederick County in June 2008
The highest list price was $775,000
The lowest list price was $129,900
The average list price sold was $381,678
Howard County
133 Single Family Homes sold in Howard County in June 2008
The highest list price was $1,500,000
The lowest list price was $194,900
The average list price sold was $552,548
Montgomery County
448 Single Family Homes sold in Montgomery County in June 2008
The highest list price was $4,950,000
The lowest list price was $220,000
The average list price sold was $735,635
Prince George's County
221 Single Family Homes sold in Prince George's County in June 2008
The highest list price was $629,900
The lowest list price was $134,900
The average list price sold was $327,404
St. Mary's County
56 Single Family Homes sold in St. Mary's County in June 2008
The highest list price was $774,900
The lowest list price was $107,900
The average list price sold was $353,711
Market Trends Maryland Real Estate Market MARCH 2007 and SEPTEMBER 2007
Anne Arundel County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Anne Arundel County in March 2007 was $395,037
The average SOLD price for homes in Anne Arundel County in September 2007 was $441,246
Baltimore City, Maryland Real Estate SOLD prices
The average SOLD price for homes in Baltimore City in March 2007 was $178,019
The average SOLD price for homes in Baltimore City in September 2007 was $179,680
Baltimore County, Maryland Real Estate SOLD prices,274
The average SOLD price for homes in Baltimore County in March 2007 was $297,252
The average SOLD price for homes in Baltimore County in September 2007 was $299.615
Calvert County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Calvert County in March 2007 was $390,941
The average SOLD price for homes in Calvert County in September 2007 was $393,054
Carroll County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Carroll County in March 2007 was $395,635
The average SOLD price for homes in Carroll County in September 2007 was $361,516
Charles County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Charles County in March 2007 was $349,627
The average SOLD price for homes in Charles County in September 2007 was $337,545
Frederick County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Frederick County in March 2007 was $340,773
The average SOLD price for homes in Frederick County in September 2007 was $340,478
Harford County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Harford County in March 2007 was $296,432
The average SOLD price for homes in Harford County in September 2007 was $284,730
Howard County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Howard County in March 2007 was $444,801
The average SOLD price for homes in Howard County in September 2007 was $418,238
Montgomery County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Montgomery County in March 2007 was $520,684
The average SOLD price for homes in Montgomery County in September 2007 was $511,437
Prince George's County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Prince George's County in March 2007 was $333,518
The average SOLD price for homes in Prince George's County in September 2007 was $318,576
St. Mary's County, Maryland Real Estate SOLD prices
The average SOLD price for homes in St. Mary's County in March 2007 was $350,559
The average SOLD price for homes in St. Mary's County in September 2007 was $362,138
Washington County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Washington County in March 2007 was $251,531
The average SOLD price for homes in Washington County in September 2007 was $251,380
Market Trends Northern Virginia Real Estate Market MARCH and SEPTEMBER 2007
Alexandria City Real Estate SOLD prices 2007
The average SOLD price for homes in Old Town Alexandria in March 2007 was $525,355
The average SOLD price for homes in Old Town Alexandria in September 2007 was $483,467
The average SOLD price for homes in Arlington County in March 2007 was $544,834
The average SOLD price for homes in Arlington County in September 2007 was $563,846
Fairfax County Real Estate SOLD prices 2007
The average SOLD price for homes in Fairfax County in March 2007 was $529,382
The average SOLD price for homes in Fairfax County in September 2007 was $526,732
Fauquier County Real Estate SOLD prices 2007
The average SOLD price for homes in Fauquier County in March 2007 was $369,565
The average SOLD price for homes in Fauquier County in September 2007 was $501,418
King George County Real Estate SOLD prices 2007
The average SOLD price for homes in King George County in March 2007 was $347,389
The average SOLD price for homes in King George County in October 2007 was $308,464
Loudoun County Real Estate SOLD prices 2007
The average SOLD price for homes in Loudoun County in March 2007 was $513,066
The average SOLD price for homes in Loudoun County in October 2007 was $536,883
Prince William County Real Estate SOLD prices 2007
The average SOLD price for homes in Prince William County in March 2007 was $408,574
The average SOLD price for homes in Prince William County in October 2007 was $370,506
Spotsylvania County Real Estate SOLD prices 2007
The average SOLD price for homes in Spotsylvania County in March 2007 was $314,696
The average SOLD price for homes in Spotsylvania County in October 2007 was $318,857
Stafford County Real Estate SOLD prices 2007
The average SOLD price for homes in Stafford County in March 2007 was $383,899
The average SOLD price for homes in Stafford County in October 2007 was $397,342
Market Trends Northern Virginia Real Estate Market MARCH 2007
Alexandria City Real Estate SOLD prices 2007
The average SOLD price for homes in Old Town Alexandria in March 2006 was $490,103
The average SOLD price for homes in Old Town Alexandria in March 2007 was $525,355
Arlington County Real Estate SOLD prices 2007
The average SOLD price for homes in Arlington County in March 2006 was $562,063
The average SOLD price for homes in Arlington County in March 2007 was $544,834
Fairfax County Real Estate SOLD prices 2007
The average SOLD price for homes in Fairfax County in March 2006 was $536,218
The average SOLD price for homes in Fairfax County in March 2007 was $529,382
Fauquier County Real Estate SOLD prices 2007
The average SOLD price for homes in Fauquier County in March 2006 was $446,433
The average SOLD price for homes in Fauquier County in March 2007 was $369,565
King George County Real Estate SOLD prices 2007
The average SOLD price for homes in King George County in March 2006 was $358,031
The average SOLD price for homes in King George County in March 2007 was $347,389
Loudoun County Real Estate SOLD prices 2007
The average SOLD price for homes in Loudoun County in March 2006 was $543,515
The average SOLD price for homes in Loudoun County in March 2007 was $513,066
Prince William County Real Estate SOLD prices 2007
The average SOLD price for homes in Prince William County in March 2006 was $436,606
The average SOLD price for homes in Prince William County in March 2007 was $408,574
Spotsylvania County Real Estate SOLD prices 2007
The average SOLD price for homes in Spotsylvania County in March 2006 was $339,084
The average SOLD price for homes in Spotsylvania County in March 2007 was $314,696
Stafford County Real Estate SOLD prices 2007
The average SOLD price for homes in Stafford County in March 2006 was $389,961
The average SOLD price for homes in Stafford County in March 2007 was $383,899
Market Trends Maryland Real Estate Market MARCH 2007
Anne Arundel County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Anne Arundel County in March 2006 was $399,348
The average SOLD price for homes in Anne Arundel County in March 2007 was $395,037
Baltimore City, Maryland Real Estate SOLD prices
The average SOLD price for homes in Baltimore City in March 2006 was $161,925
The average SOLD price for homes in Baltimore City in March 2007 was $178,019
Baltimore County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Baltmore County in March 2006 was $288,274
The average SOLD price for homes in Baltimore County in March 2007 was $297,252
Calvert County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Calvert County in March 2006 was $412,995
The average SOLD price for homes in Calvert County in March 2007 was $390,941
Carroll County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Carroll County in March 2006 was $353,644
The average SOLD price for homes in Carroll County in March 2007 was $395,635
Charles County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Charles County in March 2006 was $343,754
The average SOLD price for homes in Charles County in March 2007 was $349,627
Frederick County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Frederick County in March 2006 was $356,756
The average SOLD price for homes in Frederick County in March 2007 was $340,773
Harford County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Harford County in March 2006 was $287,563
The average SOLD price for homes in Harford County in March 2007 was $296,432
Howard County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Howard County in March 2006 was $445,572
The average SOLD price for homes in Howard County in March 2007 was $444,801
Montgomery County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Montgomery County in March 2006 was $507,297
The average SOLD price for homes in Montgomery County in March 2007 was $520,684
Prince George's County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Prince George's County in March 2006 was $332,548
The average SOLD price for homes in Prince George's County in March 2007 was $333,518
St. Mary's County, Maryland Real Estate SOLD prices
The average SOLD price for homes in St. Mary's County in March 2006 was $352,320
The average SOLD price for homes in St. Mary's County in March 2007 was $350,559
Washington County, Maryland Real Estate SOLD prices
The average SOLD price for homes in Washington County in March 2006 was $257,701
The average SOLD price for homes in Washington County in March 2007 was $251,531
SALES FOR HOMES IN THE MARYLAND AND NORTHERN VIRGINIA REAL ESTATE MARKET
FEBRUARY 2007 COMPARED WITH JANUARY 2007 and the Days On The Market (DOM).
COUNTY SALES REPORTS FOR PROPERTIES IN MARYLAND
The average price for homes sold in Anne Arundel County MD in January 2007 was $412,344, DOM 112.
The price for homes in Anne Arundel County sold in February was $437,285, DOM 112.
The average price for homes sold in Baltimore County MD in January 2007 was $296,455, DOM 79.
The price for homes in Baltimore County sold in February was $291,338, DOM 79.
The average price for homes sold in Carroll County MD in January 2007 was $371,038, DOM 98.
The price for homes in Carroll County sold in February was $370,888, DOM 109.
The average price for homes sold in Charles County MD in January 2007 was $346,421, DOM 94.
The price for homes in Charles County sold in February was $373,992, DOM 104.
The average price for homes sold in Frederick County MD in January 2007 was $365,151, DOM 105.
The price for homes in Frederick County sold in February was $343,392, DOM 119.
The average price for homes sold in Harford County MD in January 2007 was $284,817, DOM 93.
The price for homes in Harford County sold in February was $288,956, DOM 98.
The average price for homes sold in Howard County MD in January 2007 was $438,175, DOM 104.
The price for homes in Howard County sold in February was $433,814, DOM 94.
The average price for homes sold in Montgomery County MD in January 2007 was $538,076, DOM 92..
The price for homes in Montgomery County sold in February was $515,371, DOM 96.
The average price for homes sold in Prince George's County MD in January 2007 was $337.611, DOM 72.
The price for homes in Prince George's County sold in February was $349,843, DOM 81.
COUNTY SALES REPORTS FOR PROPERTIES IN VIRGINIA
The average price for homes sold in Fairfax County VA in January 2007 was $531,143, DOM 106.
The price for homes in Fairfax County sold in February was $508,545, DOM 113.
The average price for homes sold in King George County VA in January 2007 was $319,420, DOM 143.
The price for homes in King George County sold in February was $305,656, DOM 133.
The average price for homes sold in Loudoun County VA in January 2007 was $556,878, DOM 135.
The price for homes in Loudoun County sold in February was $486,292, DOM 133.
The average price for homes sold in Prince William County VA in January 2007 was $415,447, DOM 125.
The price for homes in Prince William County sold in February was $418,874, DOM 127.
The average price for homes sold in Stafford County VA in January 2007 was $382,631, DOM 104.
The price for homes in Stafford County sold in February was $368,525, DOM 146.
The average price for homes sold in Spotsylvania County VA in January 2007 was $340,880, DOM 99.
The price for homes in Spotsylvania County sold in February was $324,605, DOM 131.
MARKET STATISTICS FOR September / October / November / December 2006
Anne Arundel County, MD
Average days on the market - Sept., 75
Average days on the market - Oct., 81
Average days on the market - Nov., 87
Average days on the market - Dec., 107
Average Sold Price - August 2006, $417,426
Average Sold Price - September 2006, $425,915
Average Sold Price - October 2006, $417,301
Average Sold Price - November 2006, $401,307
Average Sold Price - December 2006, $412385
Baltimore County, MD
Average days on the market - Sept. 52
Average days on the market - Oct. 61
Average days on the market - Nov. 64
Average days on the market - Dec., 71
Average Sold Price - August 2006, $315,078
Average Sold Prince - September 2006, $287,609
Average Sold Prince - October 2006, $306,822
Average Sold Price - November 2006, $298,307
Average Sold Price - December 2006, $290,000
Calvert County, MD
Average days on the market - Sept. 83
Average days on the market - Oct. 113
Average days on the market - Nov. 114
Average days on the market - Dec., 126
Average Sold Price - August 2006, $399,507
Average Sold Price - September 2006, $396,028
Average Sold Price - October 2006, $400,570
Average Sold Price - November 2006, $391,953
Average Sold Price - December 2006 - 312,500
Carroll County, MD
Average days on the market - Sept. 85
Average days on the market - Oct. 72
Average days on the market - Nov. 96
Average days on the market - Dec. 113
Average Sold Price - August 2006, $362,770
Average Sold Price - September 2006, $354,593
Average Sold Price - October 2006, $352,995
Average Sold Price - December 2006, $344,375
Charles County, MD
Average days on the market - Sept. 61
Average days on the market - Oct. 65
Average days on the market - Nov. 71
Average days on the market - Dec. 77
Average Sold Price - August 2006, $361,206
Average Sold Price - September 2006, $356,169
Average Sold Price - October 2006, $355,336
Average Sold Price - November 2006, $353,238
Average Sold Price - December 2006, 350,516
Frederick County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 95
Average days on the market - Nov. 96
Average days on the market - Dec. 94
Average Sold Price - August 2006, $379,616
Average Sold Price - September 2006, $368,894
Average Sold Price - October 2006, $362,097
Average Sold Price - November 2006, $347,386
Average Sold Price - December 2006, $346,115
Howard County, MD
Average days on the market - Sept. 57
Average days on the market - Oct. 69
Average days on the market - Nov. 79
Average days on the market - Dec. 83
Average Sold Price - August 2006, $462,950
Average Sold Price - September 2006, $437,335
Average Sold Price - October 2006, $416,736
Average Sold Price - November 2006, $457,502
Average Sold Price - December 2006, $459,898
Montgomery County, MD
Average days on the market - Sept. 67
Average days on the market - Oct. 74
Average days on the market - Nov. 76
Average days on the market - Dec. 83
Average Sold Price - August 2006, $538,571
Average Sold Price - September 2006, $517,823
Average Sold Price - October 2006, $510,758
Average Sold Price - November 2006, $515,948
Average Sold Price - December 2006, $512,897
Prince George's County, MD
Average days on the market - Sept. 43
Average days on the market - Oct. 57
Average days on the market - Nov. 59
Average days on the market - Dec. 66
Average Sold Price - August 2006, $341,862
Average Sold Price - September 2006, $342,664
Average Sold Price - October 2006, $348,639
Average Sold Price - November 2006, $344,956
Average Sold Price - December 2006, 347,148
St. Mary's County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 66
Average days on the market - Nov. 92
Average days on the market - Dec. 99
Average Sold Price - August 2006, $334,951
Average Sold Price - September 2006, $356,521
Average Sold Price - October 2006, $319,540
Average Sold Price - November 2006, $337,248
Average Sold Price - December 2006, $366,799
Alexandria City, VA
Average days on the market - Sept. 72
Average days on the market - Oct. 87
Average days on the market - Nov. 70
Average days on the market - Dec. 81
Average Sold Price - August 2006, $527,806
Average Sold Price - September 2006, $476,551
Average Sold Price - October 2006, $416,874
Average Sold Price - November 2006, $485,757
Average Sold Price - December 2006, $505,507
Arlington County, VA
Average days on the market - Sept. 69
Average days on the market - Oct. 75
Average days on the market - Nov. 69
Average days on the market - Dec. 72
Average Sold Price - August 2006, $488,760
Average Sold Price - September 2006, $530,307
Average Sold Price - October 2006, $520,047
Average Sold Price - November 2006, $561,899
Average Sold Price - December 2006, $552,266
Fairfax County, VA
Average days on the market - Sept. 77
Average days on the market - Oct. 84
Average days on the market - Nov. 91
Average days on the market - Dec. 97
Average Sold Price - August 2006, $546,101
Average Sold Price - September 2006, $514,124
Average Sold Price - October 2006, $535,423
Average Sold Price - November 2006, $521,353
Average Sold Price - December 2006, $537,829
Fauquier County, VA
Average days on the market - Sept. 95
Average days on the market - Oct. 108
Average days on the market - Nov. 95
Average days on the market - Dec. 110
Average Sold Price - August 2006, $545,709
Average Sold Price - September 2006, $405,716
Average Sold Price - October 2006, $517,492
Average Sold Price - November 2006, $391,885
Average Sold Price - December 2006, $625,136
King George County, VA
Average days on the market - Sept. 87
Average days on the market - Oct. 90
Average days on the market - Nov. 127
Average days on the market - Dec. 122
Average Sold Price - August, 2006, $365,889
Average Sold Price - September 2006, $392,956
Average Sold Price - October 2006, $337,798
Average Sold Price - November 2006, $354,195
Average Sold Price - December 2006, $323,223
Loudoun County, VA
Average days on the market - Sept. 109
Average days on the market - Oct. 106
Average days on the market - Nov. 120
Average days on the market - Dec. 101
Average Sold Price - August 2006, $530,607
Average Sold Price - September 2006, $514,068
Average Sold Price - October 2006, $495,400
Average Sold Price - November 2006, $501,673
Average Sold Price - December 2006, $514,787
Prince William County, VA
Average days on the market - Sept. 90
Average days on the market - Oct. 102
Average days on the market - Nov. 110
Average days on the market - Dec. 103
Average Sold Price - August 2006, $415,601
Average Sold Price - September 2006, $412,893
Average Sold Price - October 2006, $403,101
Average Sold Price - November 2006, $408,310
Average Sold Price - December 2006, $414,638
Spotsylvania County, VA
Average days on the market - Sept. 89
Average days on the market - Oct. 105
Average days on the market - Nov. 101
Average days on the market - Dec. 110
Average Sold Price - August 2006, 350,296
Average Sold Price - September 2006, $337,758
Average Sold Price - October 2006, $351,391
Average Sold Price - November 2006, $335,675
Average Sold Price - December 2006, $328,137
Stafford County, VA
Average days on the market - Sept. 96
Average days on the market - Oct. 98
Average days on the market - Nov. 101
Average days on the market - Dec. 109
Average Sold Price - August 2006, $388,127
Average Sold Price - September 2006, $390,202
Average Sold Price - October 2006, $377,001
Average Sold Price - November 2006, $339,813
Average Sold Price - December 2006, $372,382
MARKET STATISTICS FOR September / October / November- 2006
Anne Arundel County, MD
Average days on the market - Sept. 75
Average days on the market - Oct. 81
Average days on the market - Nov 87
Average Sold Price - August 2006, $417,426
Average Sold Price - September 2006, $425,915
Average Sold Price - October 2006, $417,301
Average Sold Price - November 2006, $401,307
Baltimore County, MD
Average days on the market - Sept. 52
Average days on the market - Oct. 61
Average days on the market - Nov. 64
Average Sold Price - August 2006, $315,078
Average Sold Prince - September 2006, $287,609
Average Sold Prince - October 2006, $306,822
Average Sold Price - November 2006, $298,307
Calvert County, MD
Average days on the market - Sept. 83
Average days on the market - Oct. 113
Average days on the market - Nov. 114
Average Sold Price - August 2006, $399,507
Average Sold Price - September 2006, $396,028
Average Sold Price - October 2006, $400,570
Average Sold Price - November 2006, $391,953
Carroll County, MD
Average days on the market - Sept. 85
Average days on the market - Oct. 72
Average days on the market - Nov. 96
Average Sold Price - August 2006, $362,770
Average Sold Price - September 2006, $354,593
Average Sold Price - October 2006, $352,995
Average Sold Price - November 2006, $366,878
Charles County, MD
Average days on the market - Sept. 61
Average days on the market - Oct. 65
Average days on the market - Nov. 71
Average Sold Price - August 2006, $361,206
Average Sold Price - September 2006, $356,169
Average Sold Price - October 2006, $355,336
Average Sold Price - November 2006, $353,238
Frederick County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 95
Average days on the market - Nov. 96
Average Sold Price - August 2006, $379,616
Average Sold Price - September 2006, $368,894
Average Sold Price - October 2006, $362,097
Average Sold Price - November 2006, $347,386
Howard County, MD
Average days on the market - Sept. 57
Average days on the market - Oct. 69
Average days on the market - Nov. 79
Average Sold Price - August 2006, $462,950
Average Sold Price - September 2006, $437,335
Average Sold Price - October 2006, $416,736
Average Sold Price - November 2006, $457,502
Montgomery County, MD
Average days on the market - Sept. 67
Average days on the market - Oct. 74
Average days on the market - Nov. 76
Average Sold Price - August 2006, $538,571
Average Sold Price - September 2006, $517,823
Average Sold Price - October 2006, $510,758
Average Sold Price - November 2006, $515,948
Prince George's County, MD
Average days on the market - Sept. 43
Average days on the market - Oct. 57
Average days on the market - Nov. 59
Average Sold Price - August 2006, $341,862
Average Sold Price - September 2006, $342,664
Average Sold Price - October 2006, $348,639
Average Sold Price - November 2006, $344,956
St. Mary's County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 66
Average days on the market - Nov. 92
Average Sold Price - August 2006, $334,951
Average Sold Price - September 2006, $356,521
Average Sold Price - October 2006, $319,540
Average Sold Price - November 2006, $337,248
Alexandria City, VA
Average days on the market - Sept. 72
Average days on the market - Oct. 87
Average days on the market - Nov. 70
Average Sold Price - August 2006, $527,806
Average Sold Price - September 2006, $476,551
Average Sold Price - October 2006, $416,874
Average Sold Price - November 2006, $485,757
Arlington County, VA
Average days on the market - Sept. 69
Average days on the market - Oct. 75
Average days on the market - Nov. 69
Average Sold Price - August 2006, $488,760
Average Sold Price - September 2006, $530,307
Average Sold Price - October 2006, $520,047
Average Sold Price - November 2006, $561,899
Fairfax County, VA
Average days on the market - Sept. 77
Average days on the market - Oct. 84
Average days on the market - Nov. 91
Average Sold Price - August 2006, $546,101
Average Sold Price - September 2006, $514,124
Average Sold Price - October 2006, $535,423
Average Sold Price - November 2006, $521,353
Fauquier County, VA
Average days on the market - Sept. 95
Average days on the market - Oct. 108
Average days on the market - Nov. 95
Average Sold Price - August 2006, $545,709
Average Sold Price - September 2006, $405,716
Average Sold Price - October 2006, $517,492
Average Sold Price - November 2006, $391,885
King George County, VA
Average days on the market - Sept. 87
Average days on the market - Oct. 90
Average days on the market - Nov. 127
Average Sold Price - August, 2006, $365,889
Average Sold Price - September 2006, $392,956
Average Sold Price - October 2006, $337,798
Average Sold Price - November 2006, $354,195
Loudoun County, VA
Average days on the market - Sept. 109
Average days on the market - Oct. 106
Average days on the market - Nov. 120
Average Sold Price - August 2006, $530,607
Average Sold Price - September 2006, $514,068
Average Sold Price - October 2006, $495,400
Average Sold Price - November 2006, $501,673
Prince William County, VA
Average days on the market - Sept. 90
Average days on the market - Oct. 102
Average days on the market - Nov. 110
Average Sold Price - August 2006, $415,601
Average Sold Price - September 2006, $412,893
Average Sold Price - October 2006, $403,101
Average Sold Price - November 2006, $408,310
Spotsylvania County, VA
Average days on the market - Sept. 89
Average days on the market - Oct. 105
Average days on the market - Nov. 101
Average Sold Price - August 2006, 350,296
Average Sold Price - September 2006, $337,758
Average Sold Price - October 2006, $351,391
Average Sold Price - November 2006, $335,675
Stafford County, VA
Average days on the market - Sept. 96
Average days on the market - Oct. 98
Average days on the market - Nov. 101
Average Sold Price - August 2006, $388,127
Average Sold Price - September 2006, $390,202
Average Sold Price - October 2006, $377,001
Average Sold Price - November 2006, $339,813
Anne Arundel County, MD
Average days on the market - Sept. 75
Average days on the market - Oct. 81
Average Sold Price - August 2006, $417,426
Average Sold Price - September 2006, $425,915
Average Sold Price - October 2006, $417,301
Baltimore County, MD
Average days on the market - Sept. 52
Average days on the market - Oct. 61
Average Sold Price - August 2006, $315,078
Average Sold Prince - September 2006, $287,609
Average Sold Prince - October 2006, $306,822
Calvert County, MD
Average days on the market - Sept. 83
Average days on the market - Oct. 113
Average Sold Price - August 2006, $399,507
Average Sold Price - September 2006, $396,028
Average Sold Price - October 2006, $400,570
Carroll County, MD
Average days on the market - Sept. 85
Average days on the market - Oct. 72
Average Sold Price - August 2006, $362,770
Average Sold Price - September 2006, $354,593
Average Sold Price - October 2006, $352,995
Charles County, MD
Average days on the market - Sept. 61
Average days on the market - Oct. 65
Average Sold Price - August 2006, $361,206
Average Sold Price - September 2006, $356,169
Average Sold Price - October 2006, $355,336
Frederick County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 95
Average Sold Price - August 2006, $379,616
Average Sold Price - September 2006, $368,894
Average Sold Price - October 2006, $362,097
Howard County, MD
Average days on the market - Sept. 57
Average days on the market - Oct. 69
Average Sold Price - August 2006, $462,950
Average Sold Price - September 2006, $437,335
Average Sold Price - October 2006, $416,736
Montgomery County, MD
Average days on the market - Sept. 67
Average days on the market - Oct. 74
Average Sold Price - August 2006, $538,571
Average Sold Price - September 2006, $517,823
Average Sold Price - October 2006, $510,758
Prince George's County, MD
Average days on the market - Sept. 43
Average days on the market - Oct. 57
Average Sold Price - August 2006, $341,862
Average Sold Price - September 2006, $342,664
Average Sold Price - October 2006, $348,639
St. Mary's County, MD
Average days on the market - Sept. 80
Average days on the market - Oct. 66
Average Sold Price - August 2006, $334,951
Average Sold Price - September 2006, $356,521
Average Sold Price - October 2006, $319,540
Alexandria City, VA
Average days on the market - Sept. 72
Average days on the market - Oct. 87
Average Sold Price - August 2006, $527,806
Average Sold Price - September 2006, $476,551
Average Sold Price - October 2006, $416,874
Arlington County, VA
Average days on the market - Sept. 69
Average days on the market - Oct. 75
Average Sold Price - August 2006, $488,760
Average Sold Price - September 2006, $530,307
Average Sold Price - October 2006, $520,047
Fairfax County, VA
Average days on the market - Sept. 77
Average days on the market - Oct. 84
Average Sold Price - August 2006, $546,101
Average Sold Price - September 2006, $514,124
Average Sold Price - October 2006, $535,423
Fauquier County, VA
Average days on the market - Sept. 95
Average days on the market - Oct. 108
Average Sold Price - August 2006, $545,709
Average Sold Price - September 2006, $405,716
Average Sold Price - October 2006, $517,492
King George County, VA
Average days on the market - Sept. 87
Average days on the market - Oct. 90
Average Sold Price - August, 2006, $365,889
Average Sold Price - September 2006, $392,956
Average Sold Price - October 2006, $337,798
Loudoun County, VA
Average days on the market - Sept. 109
Average days on the market - Oct. 106
Average Sold Price - August 2006, $530,607
Average Sold Price - September 2006, $514,068
Average Sold Price - October 2006, $495,400
Prince William County, VA
Average days on the market - Sept. 90
Average days on the market - Oct. 102
Average Sold Price - August 2006, $415,601
Average Sold Price - September 2006, $412,893
Average Sold Price - October 2006, $403,101
Spotsylvania County, VA
Average days on the market - Sept. 89
Average days on the market - Oct. 105
Average Sold Price - August 2006, 350,296
Average Sold Price - September 2006, $337,758
Average Sold Price - October 2006, $351,391
Stafford County, VA
Average days on the market - Sept. 96
Average days on the market - Oct. 98
Average Sold Price - August 2006, $388,127
Average Sold Price - September 2006, $390,202
Average Sold Price - October 2006, $377,001
Demographics for Maryland by Counties in the Baltimore/Washington Corridor
and Southern Maryland
TOTAL POPULATION 2004
Homefinders.com Marylandreal estate market area.
Anne Arundel County - 508,572
Baltimore County - 780,821
Calvert County - 86,474
Carroll County - 166,159
Charles County - 135,807
Frederick County - 217,653
Harford County - 235,594
Howard County - 266,738
Montgomery County - 921,690
Prince George's County - 842,967
St. Mary's County - 94,921
==================================
PERSONAL INCOME FOR COUNTIES IN MARYLAND - 2004
Median Household Incomes - 2004
Per Capital Personal Incomes - 2004
Total County Personal Income - 2004
Median Household Income - 2004
Per Capita Personal Income - 2004
Total Personal Income - 2004
Anne Arundel County
Median Household Incom - $73,150
Per Capita Personal Income$40,463
Total Personal Income $20,442,037,000
Baltimore County
Median Household Income - $57,650
Per Capita Personal Income - $39,478
Total Personal Income $30,601,124,000
Calvert County
Median Household Income$79,600
Per Capita Personal Incom - $33,665
Total Personal Income $2,833,060,000
Carroll County
Median Household Income - $72,750
Per Capita Personal Income - $35,259
Total Personal Income $5,754,673,000
Charles County
Median Household Income - $74,000
Per Capita Personal Income - $33,226
Total Personal Income $4,395,274,000
Frederick County
Median Household Income$73,500
Per Capita Personal Income$35,423
Total Personal Income $7,567,226,000
Harford County
Median Household Income - $68,150
Per Capita Personal Income - $34,553
Total Personal Income $8,017,251,000
Howard County
Median Household Income - $84,200
Per Capita Personal Income$46,281
Total Personal Income $12,215,898,000
Montgomery County
Median Household Income - $80,000
Per Capita Personal Income - $52,854
Total Personal Income $48,364,709,000
Prince George's County
Median Household Income - $66,750
Per Capita Personal Incom - $31,936
Total Personal Income $26,710,371,000
St. Mary's County
Median Household Income - $60,550
Per Capita Personal Income - $31,140
Total Personal Income $2,886,559,000
AVERAGE COMBINED SAT SCORES - PUBLIC SCHOOLS - 2004
Counties in the Homefinders.com real estate Maryland market area
Anne Arundel County - 1,055
Baltimore County - 1,034
Calvert County - 1,044
Carroll County - 1,049
Charles County - 1,027
Frederick County - 1,055
Harford County - 1,021
Howard County - 1,095
Montgomery County - 1,094
Prince George's County - 887
St. Mary's County - 1,041
COST OF LIVING INDEX BASED ON 100% NATIONAL AVERAGE
Anne Arundel County - 105.6
Baltimore County - 101.3
Calvert County - 96.9
Carroll County - 95.1
Charles County - 98.3
Frederick County - 96.9
Harford County - 97.7
Howard County - 108.5
Montgomery County - 112.7
Prince George's County - 107.7
St. Mary's County - 89.8
Source: Maryland Department of Business and Economic Development
Date of Data: 2000
CRIME RATE - NUMBER OF CRIMES PER 1000,000 POPULATION - 2003
Anne Arundel County - 4,189.4
Baltimore County - 4,421.4
Calvert County - 2,107.5
Carroll County - 1,856.7
Charles County - 3,918.2
Frederick County - 2,280.8
Harford County - 2,708.5
Howard County - 2,870.8
Montgomery County - 3,122.0
Prince George's County - 7,263.3
St. Mary's County - 2,414.1
AVERAGE SALE PRICE OF HOMES - 2004
HOMES IN MARYLAND HAVE INCREASED APPROX. 20-30% FROM JUNE 2004 TO JUNE 2005
Anne Arundel County - $334,119
Baltimore County - $233,031
Calvert County - $306,687
Carroll County - $303,348
Charles County - $268,888
Frederick County - $283,502
Harford Count - $231,626
Howard County - $367,924
Montgomery County - $429,480
Prince George's County - $238,285
St. Mary's County - $254,686
Source: Maryland Association of Realtors
Date of Data: 2004
COUNTY SEAT FOR COUNTIES IN THE HOMEFINDERS.COM MARKET AREA
Anne Arundel County - Annapolis
Baltimore - CountyTowson
Calvert County - Prince Frederick
Carroll County - Westminster
Charles County - La Plata
Frederick County - Frederick
Harford County - Bel Air
Howard County - Ellicott City
Montgomery County - Rockville
Prince George's County - Upper Marlboro
St. Mary's County - Leonardtown
MILES OF SHORELINE FOR COUNTIES IN THE HOMEFINDERS.COM MARKET AREA
Anne Arundel County - 432 miles
Baltimore County - 209 miles
Calvert County - 143 miles
Carroll County - 0
Charles County - 183 miles
Frederick County - 0
Harford County - 140 miles
Howard County - 0
Montgomery County - 0
Prince George's County - 44 miles
St. Mary's County - 297 miles
Source: Maryland Geological Survey
Date of Data: 2002
Combined State and Local Personal Income Tax Rate Maryland counties
in the Homefinders.com market area
Anne Arundel County - 7.31%
Baltimore County - 7.58%
Calvert County - 7.55%
Carroll County - 7.80%
Charles County - 7.65%
Frederick County - 7.71%
Harford County - 7.81%
Howard County - 7.95%
Montgomery County - 7.95%
Prince George's County - 7.95%
St. Mary's County - 7.80%
Source: Comptroller of Maryland
Date of Data: 2005
Note: Includes state rate for top bracket (4.75%).
Anne Arundel County - $1.073
Baltimore County - $1.247
Calvert County - $1.024
Carroll County - $1.180
Charles County - $1.158
Frederick County - $1.132
Harford County - $1.224
Howard County - $1.176
Montgomery County - $0.866
Prince George's County - $1.092
St. Mary's County - $1.010
Source: Maryland Department of Assessments and Taxation
Date of Data: FY 2005
Note: Rate per $100 of assessed value. Property is taxed on assessed value, and assessed at 100 percent of market value.
Includes $0.132 state rate and county rates for unincorporated areas. County rates may be lower in incorporated areas,
and municipal rates may apply. Rates effective July 1, 2004 through June 30, 2005.
June 2005
MARKET STATISTICS FOR 2004-2005, May
PERCENT GAIN IN AVERAGE SOLD PRICES May 2004 / May 2005
Recent sales in the Washington Metro Area of Maryland and Virginia
Homes in Maryland and Northern Virginia have appreciated significantly
in the past 10-20 years. The figures below are an example of home sales during
the period from the previous one or two transfers to the most recent during the
period January 1, 2005 to May 5, 2005.
Anne Arundel County, MD 21108
Millersville, Shipleys Choice
HOME SALES IN THE U.S. SOARED 9.4% in February, 2005. 1.226 million units transferred in February, 2005.
The median (equal number higher and lower) price for a home was an all time high at $230,000 up from $210,000.
Sales to inventory ratio showed that demand still outstrips supply.
March 23, 2004 MONTGOMERY COUNTY, MARYLAND REAL ESTATE NEWS
The Board of Govenors of the Federal Reserve raised the key short-term interest rate on March 23, 2005,
by 0.25 %. Citing inflationary pressures, the Fed raised the to 2.75 percent.
March 23, 2005
Montgomery County Brokers added 8 new listings of detached single family homes for sale today in Montgomery County.
Gaithersburg - $435,000
Germantown - $549,900
Rockville $464,900
Silver Spring - $410,000
Silver Spring - $425,000
Silver Spring - $475,000
Silver Spring - $269,000
Takoma Park - $470,000
March 23, 2005 Market Report for Montgomery County - February 2004 to February 2005
Average Sold Price - Detached Single Family Homes
2005 - $ 583,751
2004 - $ 496,424
Change - +17.59 % Average Sold Price - Attached Single Family Homes (Town Homes and Condos)
2005 - $ 351,184
2004 - $ 286,262
Change - +22.68 % Average Days on Market:
2005 - 37
2004 - 26
Change - +42.31% Avg Sale Price as a percentage of Avg List Price:
2005 - 98.83 %
2004 - 98.58 %
NATIONAL REAL ESTATE TRENDS
Supply and Demand.
Most of the US experienced a supply problem driving prices to record highs.
At the same time, interest rates remained low making home prices in the reach of many home buyers.
Approximately 6.7 million existing homes were sold in 2004, 9.4% more than in 2003.
Mortgage rates were low enough to permit the 30 years fixed rates to average 5.8%.
2005 is stacking up to be another strong year for real estate sales. With inventories
low and interest rates still low, home buyers should be in the market with first time
purchases and move-up purchased through 2005.
BUYING A HOME IN MARYLAND OR VIRGINIA
4/25/05
And how Homefinders.com can help you.
STEP #1
LET'S GET TO KNOW EACH OTHER
Homefinders.com likes to start off with a tour of homes. You get to know us and we get to know you. We'll take you on a tour of a home or two to show you how working with a dedicated buyer's agent will show you how to preview a home. Some folks walk through a home. A Homefinders.com agent looks DEEP in to the soul of the home. You can select the home or homes to tour from the Homesdatabase.com/lennharley database of active listings on-line. Or, the Homefinders.com agent will select a home or homes to show you based on your stated criteria of price range and location of homes in Maryland or Virginia.
Once you decide to work with a Homefinders.com buyer's agent in Maryland or Virginia, you'll have an agent who will not only show you homes, they will tell you everything you want to know about a home. Or, at least everything that your agent knows about the home. We'll explain the importance of the property disclosures, the type of disclosure that sellers are required by law to make and how these disclosures help you to understand the condition of the home you visited.
STEP #2
TIME TO GET PRE-QUALIFIED
You have an agent. That means we'll help you every step of the way from home search to settlement. Homes in Maryland and Virginia are much in demand and sell quickly. So, depending on how quickly you wish to buy, we need to be prepared. If you have a preferred lender, contact them and tell them that you're ready to buy a home in and wish to have a written pre-qualifying letter. If you do not have a preferred lender, your Homefinders.com agent can recommend lenders to you that are experienced
with loans for the type home your are planning to buy. We'll get the pertinent information to the lender and have a pre-qualifying letter within hours. Now you are REALLY ready to buy a home.
YOU SET THE PACE
At no time during the above initial steps in your home search will you be pressured to buy anything. Homefinders.com agents understand that some buyers who call on a specific home may be ready to buy NOW. But, we also understand that some buyers, particularly first time home buyers need time to learn the market and the home buying process. Our job is to help you reach your goal of buying a home, not just sell you a house.
STEP #3
YOU ARE READY TO SELECT A HOME
Now is the time to really look at the home you have to selected to write an offer to buy. Your Homefinders.com agent will provide you with the DISCLOSURE/DISCLAIMER STATEMENT, information about other sales in the area with which to compare the list price, lead based paint disclosures (if the home was constructed prior to 1978), other disclosures as appropriate. Time permitting, we'll tour the home again and look in every nook and cranny of every room of every floor, inside and out, to make sure you know as much as possible about the home BEFORE you write an offer.
STEP #4
WRITE THE OFFER
Your Homefinders.com agent will explain the RESIDENTIAL CONTRACT OF SALE TO YOU in detail. You can decide if you wish to have a home inspection, Radon
inspection (highly recommended for homes in some area of this real estate market), how the Home Warranty works, what all of the addenda mean and help you structure your offer considering price, settlement date, inspections, and every aspect of the written offer. Offers in Maryland and Virginia are in writing and are very serious. At this time, you MUST have AT THE LEAST a pre-qualifying letter to accompany your offer.
STEP #5
OFFER, COUNTER OFFER
Once you make a written offer, it must be presented to the seller, often through the listing agent, with all addenda and often along with other buyers' offers competing for the same property. Your Homefinders.com agent will stay on top of the negotiating process to make sure that your interests are promoted depending on what is important to you. Often the settlement date is as important to the buyer or seller as the price.
STEP #6
YOU HAVE A CONTRACT, WHAT NOW?
At this point, your Earnest Money Deposit will be deposited in the Homefinders.com Escrow Account. Your Homefinders.com agent will schedule any inspections(s) quickly because they are a contingent on the contract and are date sensitive. If the home inspector finds serious defects in the home you will have the option of declaring the contract void (MD) OR giving the seller an opportunity to make repairs OR crediting you with cash at settlement to compensate for the defects. Your Homefinders.com agent will explain all of the options to you.
STEP #7
ELVES AT WORK
While the lender is working on your loan commitment, your Homefinders.com agent is preparing your purchase for settlement. Your Contract of Sale will be taken to a title company in Frederick County and the title company will begin the process of ordering a copy of your title and all of the transactions recorded in the county for that property. Once the title is searched, the report will be sent to the title company and they will make sure that the title can be conveyed to you with no encumbrances.
The title company will also order a survey of the property that you have under contract. You'll receive a copy of the survey at settlement. The lender will order an appraisal of the property. The purpose of the appraisal is to make sure that the property is equal in value or more than the purchase price of the home. While the appraisal protects the lender, it is also protection for you, the home buyer. Your Homefinders.com agent will order the termite inspection. You'll be protected by contract in case of infestation or repairs do to wood destroying insects. If the property is on well and septic, the well water will be tested to make sure it meets county standards for safety.
STEP #8
HAZARD INSURANCE
It's time to order hazard insurance. This is a condition of your mortgage loan. You can select the insurance company of your choice. Often you'll get a discount if you also insure your automobile with that insurance company. Homefinders.com will recommend an agent if you don't have one.
Title work is completed. Survey is completed. Appraisal is completed. All of the verifications for your accounts, employment are in. . . . . Your loan is approved, settlement can take place on the date agreed in the contract.
STEP #9
LET'S GO TO SETTLEMENT
The lender will send the new Deed to the title company along with the Deed of Trust and the money to fund your loan. You will bring a Cashiers Check for the down payment and closing costs according to the Good Faith Estimate provided by your lender when you made the loan application. The title officer or attorney will explain all of the documents prepared for your signature and collect your closing money. The seller will sign the Deed and give you the keys to your newly purchased home in Maryland or Northern Virginia. Your Homefinders.com agent will accompany you to settlement and make sure everything is in order.
There is a saying in Northern Virginia that "All roads lead to Springfield". Well, almost. Located at the Intersection of Route 95 and the Washington Beltway. Homes in Springfield are convenient to most work locations in D.C. and Northern Virginia. Prices for homes in Springfield are reasonable for the location and styles range from communities of small ranchers to luxury estate homes.
Springfield Mall serves the area in Springfield, Burke, Fairfax Station and other areas in Southern Fairfax County. Anchor Department stores include JCPenney, Macy's, Target and dozens of speciality stores for all price ranges and tastes. Shops offer a wide range of goods and services from discount to luxury goods for families in Springfield.
Long established areas for real estate in Springfield offer ramblers and split level homes built in the 1960s and 1970s. Newer communities in Springfield offer lovely Colonial style homes, large town homes and a small number of estate homes. Since Springfield is at a crossroads of two major highways, one huge attraction is the METRO station offering a relief from traffic for commuters to DC and the Pentagon.
Springfield to McLean 21 minutes 15 miles
Springfield to Dulles Airport 30 minutes 27 miles
Springfield to Washington D.C. 21 minutes 15 miles
Springfield to Leesburg 47 minutes 41 miles