Baltimore Real Estate Update

Posted by: Eric Pakulla on July 17th, 2008

Here is what we’re finding in Baltimore, Maryland…

Homes that are priced right and show well sell quickly and for almost full price. We are still seeing a lot of seller concessions, and FHA financing. FHA mortgage limits range from $560,000 in the Baltimore region which includes Anne Arundel, Baltimore, Baltimore City, Howard, Harford and Carroll counties to $729,250 in Montgomery, Frederick, Calvert, Charles and Prince Georges counties.

The Baltimore market is holding steady with new jobs being created for BRAC (Base Realignment and Closure). Maryland is expected to gain more than 45,000 federal and private sector jobs.

We are still seeing some short sales and foreclosures but overall the Baltimore market is still pretty good.

Eric Pakulla is a Realtor with The Eric Pakulla Team, RE/MAX Advantage Realty in Baltimore, Maryland.

Click to learn more about Baltimore real estate and Baltimore home prices.

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5 Comments on “Baltimore Real Estate Update”

Glenn in Bonita Springs

See the number of listings drop, as well as the number of months of inventory dropping.

Also, seeing listings priced appropriately selling quickly and in some cases multiple offers.

Volume of foreclosures higher than previously – could the result of failed short sales.

Short sales – might be failing do to substantially less than market value being offered for lender approval.

Wayne in Columbus Ga

Real Estate is local. We have a similar situation in Columbus as we are also one of the beneficiaries of BRAC at Fort Benning. We are mostly holding steady as well.

N. Stephen Schatz

I’m especially interested in the housing prices in Aberdeen during BRAC. We could have houses gaining in value there while dropping elsewhere.

Ken in Elgin Illinois

“Maryland is expected to gain more than 45,000 federal and private sector jobs.”

That is a lot of new jobs. New jobs will have a large impact on your housing market.

Vincent

It is fun to follow the Baltimore investment market. There are some excitings deals out there if you pay attention to the Baltimore City Planning. West side, East side projects are changing the neighborhoods. Read the Baltimore Sun everyday for good info.

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