For much of the last decade, the real estate market has been underperforming. Over the course of the past few years, though, there’s been quite the turnaround, to the point where in many parts of the country are experiencing better market conditions. If you've browsed through Anne Arundel County home listings, you might have noticed something. There aren't many listings [...]
This morning Freddie Mac reported a new low - the average mortgage rate for a 30-year fixed loan fell to 2.8% this week. The rate fell one basis points from the week prior and is now six basis points lower than the original all-time low set in mid-September. The average fixed rate for a 15-year mortgage was 2.33%, falling from [...]
As the home-buying season transitions into the fall market, prospective homeowners thinking of buying a waterfront home should ask certain questions before submitting an offer. Anne Arundel County has a unique geography compared to other waterfront markets. Annapolis, Severna Park, Edgewater, and similar cities are located on the Chesapeake Bay and its tributaries. Over the past year, we have seen [...]
Fall in Annapolis. Locals know there's nothing quite like it. The season comes with a snap in the air and an energy that energizes the region—from the City Dock in downtown Annapolis to the fall festivals that stretch to the far corners of the Annapolis Countryside. Some say summer is the best time to visit Annapolis—but in autumn, Annapolis offers [...]
We may be a bit biased, but the capital of Maryland has always been one of the most desirable communities in the state. Annapolis is a wonderful place to live, work, and raise a family. Annapolis is diverse in its culture, history, and activities. There are job opportunities in and around the city including government positions less than 20 minutes [...]
Those homeowners that have acquired poor credit scores might be able to take advantage of mortgage refinancing options to help their financial bottom line amid the coronavirus pandemic. Unbelievably, the housing market is the only part of the economy that’s experiencing a rebound during the Covid-19 crisis, thanks in part to market volatility driving rates down. As of today, a [...]
by Ashley Earle You will be amazed by how even the most fundamental domestic decor, like wreaths, throw pillows, and centerpieces can radically change your home into the relaxed autumn get-away you have continually dreamed of. Summer is winding down and the leaves are starting to change. The [...]
Welcome to The Week in Annapolis Real Estate. We summarize industry and market news from major sources and put the headlines into context each week. New home sales absolutely blow away all expectations. But will the supply hold on? The increase in demand for homes, brought on by the "stay at home culture" of the coronavirus pandemic, has depleted the [...]
With rates at record lows, you may be considering about refinancing your mortgage. However, be aware that it could be a more expensive transaction. Effective on December 1st, a 0.5% adverse market fee will be imposed on lenders by mortgage backers Fannie Mae and Freddie Mac. Many experts are suggesting that homeowners are going to absorb at least some of [...]
Exceptionally strong demand, historically low supply and record low mortgage rates are helping to create the fastest home price increase since 2018. According to CNBC, home prices were 5.5% higher this past July than in 2019. That is up from the 4.3% annual gain seen in June (CoreLogic). Recent falling mortgage rates increased demand from spring, when home sales bottomed [...]