10 hottest housing markets for 2014

I had a client send me this article that she had found on CNNMoney. Looks like it is great news for the housing market in Baltimore Metro area. As always if you have any questions or need any help contact us and don't for get to stop by our website at www.MarylandHomesbyLynn.com

• Median home price : $299,000
• Forecast gain through Sept. 2014: 8%

Baltimore's metro area is a study in contrasts, with both hardscrabble inner city neighborhoods and lush suburbs. Row houses in poor neighborhoods can sell for $50,000 or less but the area's median home price is $299,000, nearly 50% higher than the national figure.

The city's proximity to Washington D.C. has enabled Baltimore's residents to reap the benefits of well-paid government and corporate jobs. Its western suburbs, with their easy commute to D.C., are among the area's most expensive.

Meanwhile, local hiring at Johns Hopkins Hospital and University, as well as other area institutions, has been on the rise, according to Dean Cottrill, president of Coldwell Banker Mid-Atlantic.

All of this has helped to push home sales higher. "Buyers have been eating up the inventory," said Cotrill.

Prices climbed nearly 5% in the 12 months leading up to September and they are expected to record another 8% in gains this year, according to CoreLogic's forecast.

WOW...With this information, looks like it is going to be a good year to sell your house. Contact us and let Lynn Nichols Real Estate get you started on the process. Thanks for stopping by and don't forget to visit our website at www.MarylandHomesbyLynn.com

SNOW DAY!!! What to do?

Well looks like here in Maryland we are going to have a snow day, so what to do??? Here are a list of some ideas.
1. Create a secret snowball stash for the summer, what a good way to surprise people at a 4th of July party, and think no one else will be able to hit you back.
2. Plan that dream vacation, there you go, think of somewhere warm.
3. Have an indoor picnic, that would be fun for the kids and if you have a fireplace roast marshmallows.
4. Build a snowman, don't forget when you make that last minute run to the grocery store to pick up carrots.
5. Put together a puzzle, that can be family fun.
6. Start that workout video you have been putting off.
7. You have been wanting to move and what a great day to start the process being stuck in the house all day I have some knowledge about this one...
 A. Go to www.FindMyMarylandHomeValue.com, there you can find an estimate of what your home is  worth, you can also directly contact me.

 B. After that is done, one of the biggest things is to make sure your house is clean, in good repair and decluttered. My advice start with your closets and drawers, if you don't use it and won't use it let it go.   Give it to charity, sell it but get rid of it. Make a punch list of little things that need to be repaired, such as light bulbs replaced, light switch-plate covers, re-caulking a bathtub.                                                                                                          
There are just a few ideas and I have plenty, I would also be more than willing to sit down with you and talk about getting your house in the market and going through the house with you. Please get in touch with me at www.MarylandHomesbyLynn.com, Thanks for stopping by today...

Have a great snow day!!!

Time for the Fudge

I could not help myself, but with the snow coming into Maryland I wanted to post a fudge recipe. This takes me back to years ago when I was younger my mom would always make fudge during a snow storm. So here is a Peanut Butter Fudge recipe that I hope you enjoy....

Ingredients

1/2 cup butter                                                                                                                                                                                         2 1/4 cups brown sugar                                                                                                                                                                         1/2 cup milk                                                                                                                                                                                               3/4 cup peanut butter                                                                                                                                                                         1 teaspoon vanilla extract                                                                                                                                                                   3 1/2 cups confectioners' sugar

Directions

1. Melt butter in a medium saucepan over medium heat. Stir in brown sugar and milk. Bring to a boil and boil for 2 minutes, stirring frequently. Remove from heat. Stir in peanut butter and vanilla. Pour over confectioners' sugar in a large mixing bowl. Beat until smooth; pour into an 8x8 inch dish. Chill until firm and cut into squares.

I hope you enjoy this delicious recipe and please if you try it let us know who it turned out. If you are selling your home, what a wonderful thing to have sitting on the counter when the house is being shown, may just make them feel right at home. As always any Real Estate questions contact us as www.MarylandHomesbyLynn.com

2013 Year-End Foreclosure Report: Filings Fall 26%

Great news for the economy and as well as the housing market...Any questions please contact us at MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | FRIDAY, JANUARY 17, 2014

Last year, the foreclosure crisis began dissipating. Foreclosure filings -- including default notices, scheduled auctions, and bank repossessions -- were down 26 percent in 2013 compared to 2012, and were down 53 percent from the peak in 2010, according to RealtyTrac’s Year-End 2013 Foreclosure Market report.

The 1.4 million properties with foreclosure filings in 2013 marked the lowest amount since 2007. 

During the year, one in every 96 homes -- or about 1.04 percent of U.S. housing units -- received a foreclosure filing. That’s down from a peak of 2.23 percent of housing units in 2010. 

The following states had the highest foreclosure filing rates in 2013: 

• Florida: 3.01% of all housing units received a foreclosure filing
• Nevada: 2.16%
• Illinois: 1.89%
• Maryland: 1.57%
• Ohio: 1.53%

The average estimated value of a property receiving a foreclosure filing in 2013 was $191,693 at the time of the foreclosure filing -- a 1 percent increase from the average value in 2012, according to the RealtyTrac report. What’s more, the average estimated value of properties that received foreclosure filings in 2013 rose 10 percent since the foreclosure notice was filed. 

The national average time to complete a foreclosure rose 3 percent in the fourth quarter of 2013 to a record high of 564 days. The states that face the longest times to foreclose are New York (1,029 days), New Jersey (999 days), and Florida (944 days), according to the RealtyTrac report. 

“Millions of home owners are still living in the shadow of the massive foreclosure crisis that the country experienced over the past eight years since the housing price bubble burst — both in the form of homes lost to directly to foreclosure as well as home equity lost as a result of a flood of discounted distressed sales,” says Daren Blomquist, vice president at RealtyTrac. “But the shadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to exit in greater numbers in 2014 given the greater numbers of scheduled foreclosure auctions in 2013 in judicial states — which account for the bulk of U.S. foreclosure inventory.”

Again thanks for stopping by and don't forget to visit us at www.MarylandHomesbyLynn.com

Thought I would share today the housing market summary for Anne Arundel County for the month of December. If you would like to know more about housing the market or a more detailed report  please contact us and you can also visit our website at www.MarylandHomesbyLynnn.com,  Please note we can give you a report in what ever county you like in Maryland.                     

                                             

December 2013 Summary

Statistic	Values	YoY	MoM
Total Sold Dollar Volume	$158,760,957	+3.19%	-21.21%
Closed Sales	419	-4.99%	-12.71%
Median Sold Price	$320,000	+10.34%	-0.85%
Avg Sold Price	$378,904	+8.61%	-9.74%
Avg Days on Market	83 days	-13.54%	+6.41%
Avg Sold to Orig List Ratio	94.29%	+1.06%	-0.38%

Thanks again for dropping by today, and again visit us at http://www.MarylandHomesbyLynn.com

VA Loans Post Biggest Year on Record in 2013

Since I work so much with military clients and I already have the certification of an Military Relocation Professional, I thought this would be a good article for Military personal and Veterans alike. So many people do not realize they qualify for VA Loans, which is a great product. 100% financing and if you can get the seller to pay closing cost a lot of times there is no money to be brought to the settlement table. Please if you would like to learn more contact us at www.MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | MONDAY, JANUARY 13, 2014

The Department of Veterans Affairs announced that the number of loans it guaranteed reached a record high in 2013.

The VA guaranteed nearly 630,000 mortgage loans in 2013, says Mike Frueh, the director of the VA’s Loan Guaranty Program. The average loan was about $225,000. The VA’s total loan volume has soared about 372 percent since 2007, according to Chris Birk, the executive editor at Veterans United Home Loans.

The New York Times reports that one reason for the increase is historically low interest rates, which have driven a high demand for refinancing loans. The paper notes that about half of last year’s VA loans were for the purpose of refinancing. However, that business did drop off a bit toward the end of last year as interest rates increased.

An overall tight lending environment is also making VA loans more attractive to service members. 

“It’s become so much more difficult for military personnel and veterans to qualify for conventional financing,” Birk says. “This is the only path to homeownership for many.”

VA loans do not require a downpayment for first-time home buyers, and about 90 percent of all VA-guaranteed loans for home purchases are made without any money down. The loans also do not require private mortgage insurance. 

The three states that have seen the largest increase in VA loan activity in the last year are Arizona (up 40 percent in 2013 over 2012), Ohio (30 percent), and Connecticut (30 percent). 

Late last year, the Center for Specialized REALTOR® Education launched the Military Relocation Professional Certification a one-day program that trains real estate practitioners on the special skills needed to help veterans and service members engage in real estate transactions.

Thanks for stopping by and again any questions just please get in touch with us at www.MarylandHomesbyLynn.com

Well, I thought I would do another blog post about getting your house ready for the sale. Lot's of people put their houses up in the market in the spring time. As a Realtor I can say that it is so important when you put your house in the market that you have it in good repair, clean and organized. When showing houses there is nothing worse than going in a bedroom and see a cluttered bedroom, it makes them look smaller. So I found a video from Better Homes and Garden about small bedroom storage. This should be very helpful and give you some great ideas. If you ever have any questions please don't hesitate to contact us at www.MarylandHomesbyLynn.com. 

Please click on the photo below to view video...

Thanks again for visiting us today and don't forget to check out our website at www.MarylandHomesbyLynn.com