The State of Baltimore Real Estate
People often ask me if business is slow at our agency, or if the economy has affected us in any way.
While the Baltimore real estate market is down in some places, we’re actually very busy at The Harriett Wasserman Team.
We’ve seen traffic pick up over the last few months, as more people are looking for houses. Money has actually gotten a little easier to get, especially in conforming loans, like FHA loans.
(An FHA loan is a guaranteed loan from the Federal Housing Administration. It usually has a lower interest rate, a smaller down payment, and is perfect for people with less than perfect credit.)
We also do a lot of relocations for companies like Prudential. When buyers are coming into Baltimore, and sellers are leaving, we handle many of their listings and relocations. We’ve seen many of these listings sell immediately, because they were priced correctly.
Over the last few months, we’ve been selling houses for up to $600,000. The average home price in Baltimore is around $284,700.
We have found over the years that busiest months for the market are from April through September. We’ve found a few reasons for it this year.
1) There is some pent-up demand for housing. People have waited all winter, and are ready to move.
2) It’s spring time. People see the new season as a time for a new start. Many of them start in a new house.
3) Interest rates are especially low this year.
We’re also looking for realtors, so if you happen to be looking for a career change, or you’re a realtor who’s looking for a few office, give us a call.