Monthly Archives: August 2013

Baltimore Real Estate on Recovery Track Despite Foreclosures

A recent assessment of the housing market’s recovery by RealtyTrac Inc. put Baltimore on the bottom of the list. While the average recovery index nationally was 100, Baltimore’s index was just 80, the lowest score in the nation.

This is mainly due to a backlog of foreclosures which recently hit the market after efforts by the state government to protect vulnerable homeowners resulted in a large number of foreclosures being held up by the judicial system. These foreclosures combined with other distressed sales gave Maryland its low mark.

However, there are signs that the state’s housing market is on its way back. The influx of foreclosures had been anticipated for some time, and other factors are already working to bring the market to a more normal pace. The median sale price of single-family homes in the state grew 5.6% in the first half of 2013, according to the Baltimore Business Journal. In addition, only 25% of houses in the Baltimore region were classified as underwater mortgages, meaning a house that is worth less than its mortgage note. This statistic signifies an increase in home prices which bodes well for the market.

Home sales are up, but are still lagging behind the national averages, an increase of 9% and 19% respectively. In a response to RealtyTrac’s report, Maryland Department of Housing and Community Development Commissioner Raymond Skinner stated that the state’s recovery “continues at a very strong pace.”

If you’re looking to sell a home, your answer is Grays Home Solutions. We cover it all, no matter where you are in the home buying or selling process. We’re professionals with the experience to aid you in navigating this difficult home market.

If you have a house that is in need of repairs and that you wish to sell, don’t hesitate to contact Grays Home Solutions. Use our fast response form and we’ll reply to you as quickly as possible.

We also have a sellers referral program! All you have to do is send us the telephone number and property address for every For Sale By Owner or vacant house you can find. Or if you know someone who has a house for sale, send us their information. If we buy the house we’ll pay you $250 just for providing the lead!

To learn more about how to sell your home in days instead of months, please download our ebook today! Or learn about our super easy referral system that benefits sellers and buyers!

Follow Grays Home Solutions on Facebook, Twitter, Google+, and LinkedIn for more real estate made simple.

Source

http://www.bizjournals.com/baltimore/blog/real-estate/2013/08/marylands-high-foreclosure-rate-skews.html?page=all

Two of Ray Lewis’ Homes Are on the Market

If you’re in the market for a house owned by former Super Bowl Champion Ray Lewis, you’re in luck. In fact you’re twice as lucky, because he has not one, but two homes on the market currently. But you’ll need to be three times as lucky (as in you’ll probably need to win the Powerball) if you want to own a piece of Ravens history.

Not Ray Lewis’ house.

Lewis’ Owings Mills home recently went on the market for a cool $1.1 million. It features, among other things, an Olympic-size pool, two fireplaces, a built in fish tank, grand master suites and a gourmet kitchen. And if that’s not enough for you, it also includes the bragging rights that come with living in Ray Lewis’ former house, and there’s no price on that.

If you’re looking to move somewhere a little warmer, you might want to check out another one of Lewis’ offerings currently on the market in Palm Beach, Florida. The 12,000 square foot home sits right on the beach and will set you back almost $5 million.

If you want to see Ray’s homes for yourself, check out this link.

If you have a house that is in need of repairs and that you wish to sell, don’t hesitate to contact Grays Home Solutions. Use our fast response form and we’ll reply to you as quickly as possible.

To learn more about how to sell your home in days instead of months, please download our ebook today! Or learn about our super easy referral system that benefits sellers and buyers!

Follow Grays Home Solutions on Facebook, Twitter, Google+, and LinkedIn for more real estate made simple.

Maryland Sees Sharp Increase in Foreclosures

Maryland, which not long ago had one of the lowest foreclosure rates in the nation, has jumped in six months to the state with the third highest foreclose rates in the nation. The increase occurred between January and June of this year, a result of a backlog of troubled loans that were delayed as a result of lenders’ documentation problems and legislative action in Annapolis.

Lenders put a halt to all foreclosures in 2010 after they were forced by the state to rectify extensive documentation problems. An agreement reached last year enabled lenders to resume the foreclosure process, one of the main factors which has contributed to the increase in foreclosures. In addition, legislators in Annapolis worked to delay the process even further by enacting a series of legislation which made Maryland’s foreclosure timeline one of the longest in the nation, at an average of 575 days as of this June.

Still, time is now running out for many Marylanders, as the banks begin to push filings through the court system. There were 9,339 filings in the first three months of the year, and foreclosures, the majority of which were usually found in Baltimore City and Prince George’s County, are now being filed in areas across the state which have seen little recovery since the recession.

Are you facing foreclosure? Grays Home Solutions is here to help. Contact us today and we’ll help you avoid foreclosure and save your credit.

If you have a house that is in need of repairs and that you wish to sell, don’t hesitate to contact Grays Home Solutions. Use our fast response form and we’ll reply to you as quickly as possible.

To learn more about how to sell your home in days instead of months, please download our ebook today! Or learn about our super easy referral system that benefits sellers and buyers!

Follow Grays Home Solutions on Facebook, Twitter, Google+, and LinkedIn for more real estate made simple.

Source

http://www.washingtonpost.com/local/thousands-of-marylanders-are-losing-homes-in-second-wave-of-foreclosures/2013/08/10/859bbfde-fde5-11e2-96a8-d3b921c0924a_story.html

Sell Your Home with Grays Home Solutions

Are you looking to sell your home? You’re not alone. As we mentioned in last week’s blog, sales of previously owned homes are up 15% over 2012. In addition, home prices are expected to increase through the end of 2013. Prices were 12% higher in April 2013 than in April 2012 in the 20 biggest U.S. Metro markets, and the trend is expected to continue nationwide. Experts estimate home prices will finish 2013 somewhere between 6-12% higher than 2012. And not only are home sales and prices going up, the market is improving as a whole.

Whether you’re facing foreclosure or simply looking to move, we’re here to help. Is low equity keeping your house off the market? With Grays Home Solutions, it won’t be an issue. While a real estate agent might force you to increase the price of your home to cover their costs (and reduce the likelihood of your home being sold), we’ll purchase homes with little equity. Do you want to sell but don’t want to go through the hassle of repairs? We’ll buy your home and take care of the repairs so you don’t have to.

If you have a house that is in need of repairs and that you wish to sell, don’t hesitate to contact Grays Home Solutions. Use our fast response form and we’ll reply to you as quickly as possible.

To learn more about how to sell your home in days instead of months, please download our ebook today! Or learn about our super easy referral system that benefits sellers and buyers!

Follow Grays Home Solutions on Facebook, Twitter, Google+, and LinkedIn for more real estate made simple.

Source

http://www.forbes.com/sites/morganbrennan/2013/07/26/what-to-expect-from-housing-in-the-second-half-of-2013/2/

Market Forecast for the Second Half of 2013

The housing market continued to make steady, if slow gains, during the first half of 2013. Sales of new homes are up 38% since last year, and hit a five-year high in June. Sales of previously owned homes are 15% higher than last year as well. So what does the second half of 2013 hold for the housing market?

As a whole, growth in the market is expected to increase moderately, a total of 2.1% growth in 2013 compared to 1.7% growth in 2012, according to Fannie Mae Chief Economist Doug Duncan. Home prices have been estimated to increase between 6-12% in the second half of the year.

Inventory is expected to increase during the second half of 2012, which is especially good news considering it hit a 12-year low earlier this year. While there were 7% less homes for sales in June 2013 than in June 2012, inventory grew 4% between May to June of this year. Inventory growth on a year-to-year basis may begin to increase this fall.

Mortgage rates are expected to continue to increase, albeit at a slower pace. Despite the rising rates, buying is still currently less expensive than renting. This pattern is expected to hold for the near future.

Foreclosures are on the decline nationwide, and are expected to continue to decrease. Foreclosure filings in the first half of 2013 were down 19% from the second half of 2012. However, some states are still seeing increases, including Maryland, due to the fact that lenders are just now getting to foreclosures that had been delayed by judicial process.

If you have a house that is in need of repairs and that you wish to sell, don’t hesitate to contact Grays Home Solutions. Use our fast response form and we’ll reply to you as quickly as possible.

To learn more about how to sell your home in days instead of months, please download our ebook today! Or learn about our super easy referral system that benefits sellers and buyers!

Follow Grays Home Solutions on Facebook, Twitter, Google+, and LinkedIn for more real estate made simple.

Source

http://www.forbes.com/sites/morganbrennan/2013/07/26/what-to-expect-from-housing-in-the-second-half-of-2013/2/