Luxury Waterview Foreclosure in Annapolis Maryland

Last week, while showing homes to a client, I came across an amazing opportunity for someone who is ready to act quickly.

This custom-built luxury home, in the sought-after community of The Downs in Annapolis, offers spectacular water views from many rooms.  It’s a bank-owned property that was just listed with a new agent at the greatly reduced price of $774,900.

At one time, this home was listed for $2,499,000.  The current tax assessment is $1,288,400.  It seems that the bank is ready to get it off their balance sheet.

Are you ready to move fast for the right deal on a high-end home?  Or do you know someone who is?  If so, please call me today!  This one will go quickly.

Here’s a link to this Luxury Foreclosure Annapolis Maryland Waterview Home

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

Average Discount Off Original Price: 11%

Average Days on the Market: 141 (up 17.5%)

Number of Homes for Sale: 2,688 (down 14.64%)

Total Sales: $132,697,257 (up 1.67%)

Average Sold Price: $345,566 (down 1.51%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2012 – Information deemed reliable, but is not guaranteed.)

While the sales numbers are not quite as rosy as November’s, the lower inventory provides some upward pressure on prices, along with the continued extremely low interest rates.

A statistic was just published about people in higher-end homes. As you may know, I have been saying for the past year that it is a good time to sell a modest-priced home and buy a higher-priced home. That’s because modest price ranges have gone down some, but the high end has dropped a lot more.

It was just published that the largest increase in mortgage defaults and foreclosures is in the Jumbo mortgages.

These distressed properties soften home prices even more because they increase the supply of houses on the market that are sold at a discount. That’s exciting for people who have wanted to buy up and haven’t been able to afford the house of their dreams.

Are you thinking of doing something with a higher-end home? Or do you know someone who is?

If your answer is yes, let’s talk.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

For information on schools, I often refer people to professionals in education, and Internet resources such as the Anne Arundel County Public Schools web site, and other sites on my Recommended Links page.

Did you hear that Education Week just ranked Maryland’s public schools best in the nation?

That’s good news for Maryland homeowners and home buyers.

Here’s a link to the article “Equipping U.S. Schools for the Global Fast Lane”

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

Here are the latest numbers on home sales, for October 2011 vs October 2010 for Anne Arundel County:

Average Discount Off Original Price:  8.67%

Average Days on the Market:  123 (up 6.96%)

Number of Homes for Sale:  3,261 (down 9.44%)

Total Sales:  $119,453,226 (down 8.77%)

Average Sold Price:  $323,721 (down 9.51%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2011 – Information deemed reliable, but is not guaranteed.)

To beat the averages, get good advice as you plan your next move.

Would you like to know what is happening in your neighborhood?   Just ask.

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

The official web site for United States Yacht Shows calls these “The United States Sailboat Show” and “The United States Powerboat Show.” Fancy names for what we locals usually just call “the boat show”. We will be welcoming about 150,000 guests to historic Annapolis over the next two weeks for these boat shows.   These shows offer a fun and easy way to explore a tremendous variety of yachts, have experts answer all your questions, and perhaps make a deal on the boat of your dreams.

For the sailboat show, trade, press, and VIP day is this Thursday October 6, 2011, 10-6, and general admission is Friday, Saturday and Sunday 10-630, and Monday 10-5.  When the show ends, don’t miss the tear-down party at Pussers Caribbean Grill at the Marriott Annapolis Waterfront, as the crews race to clear out the harbor as fast as possible, so that the powerboats can enter!

Then the powerboat show begins on Thursday October 13, 2011, for trade, press, and VIP day from 10-6, and then general admission Friday and Saturday 10-630, and Sunday 10-600.

And by the way, why stop with the dream yacht?  Beautiful jewelry and luxurious waterfront homes are also to be found!

Tempted? Check out this earlier post on Waterfront Homes for Sale in Annapolis Maryland

Ready to turn your dreams into reality?  Would you like to be notified right away when a home comes on the market that meets your needs? Would you like a search customized to your desires, such as water depth (MLW), body of water, or water frontage?  Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

Average Discount Off Original Price: 9.9%

Average Days on the Market: 115 (up 16.16%)

Number of Homes for Sale:  3,520 (down 7.32%)

Total Closed Sales: 445 (down 0.22%)

Average Sold Price: $349,735 (down 4.81%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2011 – Information deemed reliable, but is not guaranteed.)

In addition to higher days on market, and a lower average sold price, another pattern is emerging.  In August, 222 contingent contracts were made, versus only 86 last August, an increase of 158%.  While we are seeing more contracts made, as buyers and sellers work together, greater numbers of contracts are falling through due to the other properties not selling.

Here’s an opportunity.  Are you frustrated by the stock market, and thinking of moving some money? As you know, real estate prices are down, and sellers are eager for non-contingent cash buyers.  With the numbers of contracts falling through due to financing troubles and buyers who need to sell other homes, you can be in a very strong negotiating position if you arrange to buy with cash.

Would you like the numbers for a particular neighborhood, or price bracket? Let me know, and I will get them for you.

On another note, here’s a brand new listing this week.  It’s a nice property, and a reminder that you can ask whatever you want…

As you know, I’ll be happy to help you with this home, or any other real estate move, so don’t hesitate to get in touch any time!

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

Local web sites in and around Annapolis, Maryland

Average Discount Off Original Price: 8.51%
Average Days on the Market:  112 (up 6.67%)
Number of Homes for Sale:  3,691 (down 6.03%)
Total Sales: $183,887,713 (down 18.23%)
Average Sold Price: $341,165 (down 9.13%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2011 – Information deemed reliable, but is not guaranteed.)

To beat the averages, get good advice as you plan your next move.

Would you like to know what is happening in your neighborhood?   Just ask.

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032

And yet, people are still buying homes with nothing down!

Tempted?   Here are five ways that are proven to work…

1.  Get a Veterans Administration (VA) loan.  This is a great solution for active duty military and former service members.  Got orders to Fort Meade, NSA, USNA, Andrews AFB, Annapolis Naval Station, the Pentagon, or another Maryland duty station?  Consider a VA loan.

2.  Get 100% financing through your credit union.  Navy Federal Credit Union, for example, offers 100% financing at competitive rates, and membership is open to many people other than service members, including DoD civilian employees, DoD contractors assigned to US government installations, and family members.  Here’s the eligibility checklist.

3.  Get help from your employer.  Many employees, of companies and the State of Maryland, are eligible for no-interest loans and employer matching funds for downpayments.  The CDA programs including ”House Keys for Employees” and the “BRAC Match” programs can cover the entire downpayment.  Check with your Human Resources Department at work.

4.  Negotiate for the seller to pay closing costs.  This is very common in our market, especially for homes priced below $350,000.

5.  Get a gift from a friend or family member to help with the downpayment.

If you know someone who doesn’t yet own their own home, please share this information with them!  (If you want, feel  free to delete the part about the gift.)

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, Keller Williams Select Realtors Annapolis, Annapolis Real Estate, Anne Arundel County, Maryland, 410-268-0160 or 410-972-4000 x4032