According to a newly released study by ATTOM Data Solutions, selling your Maryland home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

Top 5 Days to Sell your Maryland Home:

• June 28th – 9.1% above market
• February 15th – 9.0% above market
• May 31st – 8.3% above market
• May 29th – 8.2% above market
• June 21st – 8.1% above market

It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars. Need a FREE Valuation by Email of your Home?

One caveat to mention though, is that when broken down by metro, ATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.
If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!
Bottom Line Let’s get together to discuss the market conditions in our area and get you the most exposure to the buyers who are ready and willing to buy! Contact Robert McArtor with Maryland Homes Team, Inc. of RE/MAX Components at 443-885-0875 or Visit our Website and Start your Home Search anywhere in Maryland!

A new study by WalletHub used “30 key metrics, ranging from share of millennial's to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennial's.’
The Top 5 Best States for Millennial's are:

1. Washington, D.C. (also ranks highest in percentage of millennial's already living there!)
   
2. North Dakota (lowest unemployment rate)
3. Minnesota (highest millennial home ownership rate)
   
4. Massachusetts (highest percentage of millennial's with health insurance coverage)
   
5. Iowa (ranked #1 in lowest housing cost for millennial's)
   

Below is a map with the rankings for each of the 50 states:You will see that Maryland ranks number 30

 We recently reported on a study that set out to find out “How Much You Need to Make to Buy a Home in Maryland” which may have left you wondering what the average salaries are in each of the five states listed above.

According to WalletHub’s research, the top 5 states with the Highest Average Millennial Salaries are:

1. Washington, D.C.
2. New York
3. Massachusetts
4. Washington
5. California

Every day, more and more millennial's are aging into the ‘Responsibility Zone,’ the time in their lives when their responsibilities start to dictate their behaviors. For many, this includes buying a home. The top 5 states with the Highest Millennial Home ownership Rate are:

1. Minnesota
2. West Virginia
3. Indiana
4. Utah
5. Delaware

Bottom Line of owning a home in Maryland, Harford County, Baltimore or any surrounding county is next on your list, let’s get together to answer any questions you may have and set you on the path to home ownership! Contact us Today at 443-885-0875 or visit our WEBSITE to start your Home Search! Robert McArtor, Maryland Homes Team, Inc. of RE/MAX Components

With home prices on the rise in Maryland and buyer demand strong, some sellers may be tempted to try and sell their homes in Harford or Baltimore on their own (FSBO) without using the services of a real estate professional.

Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.
Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The termite company if there are challenges
• The buyer’s lender if the structure of the mortgage requires the sellers’ participation
• The appraiser if there is a question of value
• The title company if there are challenges with certificates of occupancy (CO) or other permits
• The town or municipality if you need to get the CO permits mentioned above
• The buyer’s buyer in case there are challenges with the house your buyer is selling
• Your bank in the case of a short sale

Bottom LineThe percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Let’s get together and discuss all we can do to make the process easier for you. If you are thinking of Selling you home and want a FREE Home Valuation in Maryland
Contact Robert McArtor with Maryland Homes Team, Inc. of RE/MAX Components at 443-885-0875 for more information or visit our WEBSITE for more details.
 

 

 Some Highlights:

• The average down payment for first-time home buyers in Maryland is only 6%!
  
• Despite mortgage interest rates being over 4%, rates are still below historic numbers.
• 88% of property managers raised their rents in the last 12 months!
• The credit score requirements for mortgage approval continue to fall in the Baltimore Metro Area.
  
• If you are looking for a REALTOR or Lender and would like to start the Process here in Maryland. Contact Robert McArtor with Maryland Homes Team, Inc. of RE/MAX Components by either CLICKING HERE or Calling 443-885-0875 Equal Housing Opportunity
  

Some homeowners in Maryland have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time Maryland buyers have become homeowners and now have mortgage payments for the first time.

These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years ago.
Today, we want to assure everyone that this is not the case. Here is a graph created from data released by the Federal Reserve Board which shows the Household Debt Service Ratio for mortgages as a percentage of disposable personal income. The ratio is the total quarterly required mortgage payments divided by total quarterly disposable personal income. In other words, the percentage of spendable income people are using to pay their mortgage. If you are thinking of re-financing or obtaining a mortgage. Fill-out our simple on-line mortgage application now and our preferred lender will be in touch with you the same day!

 Today’s ratio of 4.44% is nowhere near the ratio of 7.21% during the peak of the housing bubble and is instead at the lowest rate since 1980 (4.38%).
Bill McBride of Calculated Risk recently commented on the ratio:
“The Debt Service Ratio for mortgages is near the low for the last 38 years. This ratio increased rapidly during the housing bubble and continued to increase until 2007. With falling interest rates, and less mortgage debt, the mortgage ratio has declined significantly.”
Bottom Line for Maryland, Baltimore, Harford and Cecil County Home Owner's...
Many Maryland families paid a heavy price because of questionable practices that led to last decade’s housing crash. It seems the American people have learned a lesson and are not repeating that same behavior regarding their mortgage debt. If you are thinking of Buying or Selling your Home in the near future. Contact Robert McArtor with Maryland Homes Team, Inc. of RE/MAX Components at 443-885-0875 or visit our WEBSITE to start your home search today! (equal housing opportunity)

 GoBankingRates gave this advice to anyone considering a home purchase,

“Before you buy a home in Maryland, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”
As we recently reported, research from Zillow shows that historically, Americans had spent 21% of their income on owning a median-priced home. The latest data from the fourth quarter of 2017 shows that the percentage of income needed today is only 15.7%!

Bottom Line. If you are considering buying a home in Maryland, Harford County, Baltimore County or City, whether it’s your first time or your fifth time, let’s get together to evaluate your ability to do so in today’s market! Fill out our CONTACT FORM Today and we will contact you to get started with a ONE-ON-ONE Consultation that is FREE! or Call us, Robert McArtor with Maryland Homes Team, Inc. of RE/MAX Components at 443-885-0875 www.MarylandHomesTeam.com and begin your home search experience NOW!

 Pricing trends per month. This chart will update automatically each month so mark your calendar to visit our website periodically. As you can see we are trending nicely over the past year even compared to the Mid-Atlantic Region.  If you are thinking of Selling your Home and would like to discuss the value in your particular neighborhood. Call or email us anytime.