It seemed as though everyone in Maryland was waiting until after the election to make a decision about whether to buy a home now or lower the price of a home that has not yet sold.  Well, the election is over and everyone is now wondering what the results mean for the Maryland real estate market.

To be honest, we really don’t know.  What we do know is that is seems like sales have increased recently and there are less homes being listed which is exactly what we need to combat the oversupply of homes on the market.  Prices, however, still seem to be declining in most of the Greater Baltimore Metropolitan area and can be contributed to several factors including the unbalanced supply and demand factor as well as the growing number of foreclosures and short sales on the market.

So, what does this all mean?

For sellers it means that if you really want to sell your home now, you must get ahead of the market by pricing your property below your direct competitors and by offering buyers very attractive incentives.  If you are unwilling to do these things, then you should take your house off the market and wait to sell until the market improves.

For buyers it means that right now may be the most opportune time to buy.  Great deals are everywhere, but as soon as the market turns around, those deals will quickly disappear.  To see the best bargains in the area, check out our BEST BUYS list and give us a call if you would like to tour any of the properties.

Wishing you sunshine everyday and the home of your dreams,
Jeri