(Please note: you may have to click here to see the video for the real estate market trends)

In this video provided by Real Estate Business Intelligence (a MRIS company) there is some room for optimism that home prices are finally starting to bottom out.  This will be a good thing for home sellers that have been waiting to see if now is the time to put their home on the market.

If experience is any guide, though, a lot of buyers will continue to sit on the fence waiting for lower prices and/or lower mortgage interest rates.  Unfortunately, just like the home seller who was waiting for the peak of the market back in the early 2000s and missed an opportunity to cash in on the real estate bubble, many buyers will miss “the bottom” by waiting and will miss many of the bargains on the market today.

Having said that, it is important to remember that home buyers still need to qualify for a mortgage – especially first time home buyers – and that is still extremely difficult. Mortgage underwriting standards are still extremely tight and potential home buyers need to have platinum credit to get a mortgage.  This tight credit scenario, in my view, will continue to keep home prices low in order to attract the potential home buyers that can, in fact, qualify for a mortgage.

So, without further ado, here is a short video on the current real estate market trends for Montgomery County, MD and Prince George’s County, MD which includes the towns of College Park, Silver Spring, Bowie, Greenbelt, Bethesda…and more.

Are you interested in the specific real estate trends for your zip code?
E-mail me or give me a call at 240-417-9100 and I’ll send you the stats for your zip code.