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Jenn Klarman, SRES®, REALTOR®

All facets of real estate, from beginning to end and beyond! So, let's get started...Call/Text: 240-832-2486; or, Email: JKLARMAN@LNF.COM
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THANKS FOR STOPPING BY!> I realize your time is valuable; so, I'll do my best to provide you with useful information. I keep my site current; so, please feel free to visit often! If you see an area you feel could use some improvement (or, you particularly like), I'd love to hear from you!
All the best! Jenn, 240-832-2486 / JKLARMAN@LNF.COM

 

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  LONG & FOSTER SALUTES ITS TOP AGENTS!  

 

Jenn Klarman receives accolades for...

Chairman's Club ($5 to $10M in Settled Sales Volume) and Top Producer / Annapolis Sales

> SOURCE: The Capital, Saturday, March 10, 2012 / L&F Office Stats

 

MAY 14, 2012
 

Real Estate Outlook: Existing Median Home Prices Balance

By Carla Hill

The latest quarterly report from the National Association of Realtors (NAR) shows that median existing single-family home prices are indicating more balanced conditions.

 

Lawrence Yun, NAR chief economist, said there is some volatility in the price performance. "Home prices are more volatile than normal because of sudden upswings in buyer activity in some localities, and also are affected by the prevalence of distressed sales," he said.

 

He continued that "home prices lag sales activity because the transactions were negotiated mostly in the previous quarter. Given the steadily dwindling supply of inventory and notably higher listing prices that are being negotiated today, prices are expected to show further improvements in the near future."

 

The median existing home price rose in around half of the MSAs, or metropolitan statistical areas. We're seeing improving sales and a declining inventory.

 

Overall inventory shows that at the end of the first quarter there were 21.8 percent fewer homes available for sale, leaving the number at 2.37 million existing homes.

 

The NAR reports that there has been a downtrend since inventories hit their peak in the Summer of 2007, coming in at 4.04 million available homes.

 

Yun says a big part of the current story on housing is housing inventory. "We now have broad shortages of lower priced homes in much of the country, with very tight supply in Western states for homes through the middle price ranges. This is good news for many sellers who wish to list now, or for those waiting for prices to improve."

 

The first quarter national median existing single-family home price came in $158,100. This is only slightly -- 0.4 percent -- less than year ago levels. Distressed homes are now making up a smaller percentage of the market. They were 32 percent of first quarter sales, as opposed to 38 percent a year ago.

 

NAR President Moe Veissi, reports that "housing supply and demand are roughly balanced with overall housing supply at the lowest level in six years, putting sellers on an even footing with buyers in most markets."

 

Regionally, the largest increase in first quarter sales was seen in the Northeast, which rose 8.6 percent. The West and Midwest followed a close second and third, at 5.9 and 5.5 percent. The South also rose by 2.1 percent in the first quarter.

 

Median existing home prices rose in both the Midwest and South, though only marginally. The Northeast saw sales decline 3.2 percent. The West fell 0.9 percent.

 

"This is the highest first quarter sales pace since 2007," Yun said. "With strong market fundamentals, total home sales this year should rise 7 to 10 percent.

 

> MORE INFO: RealtyTimes

 

 

MAY 11, 2012
 

Mortgage Moments

 

Second Consecutive Week of Record-Low Fixed Mortgage Rates

 

McLean, VA – In Freddie Mac's results of its Primary Mortgage Market Survey® (PMMS®), the average fixed mortgage rates hit a new all-time record low for the second consecutive week as they followed bond yields lower. The 30-year fixed-rate mortgage has averaged below 4 percent all but one week since December 8, 2011, helping to keep homebuyer affordability high.

 

> 30-year fixed-rate mortgage (FRM) averaged 3.83 percent with an average 0.7 point for the week ending May 10, 2012, down from last week when it averaged 3.84 percent. Last year at this time, the 30-year FRM averaged 4.63 percent.

 

> 15-year FRM this week averaged 3.05 percent with an average 0.7 point, down from last week when it averaged 3.07 percent. A year ago at this time, the 15-year FRM averaged 3.82 percent.

 

> 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.81 percent this week, with an average 0.5 point, down from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.41 percent.

 

> 1-year Treasury-indexed ARM averaged 2.73 percent this week with an average 0.5 point, up from last week when it averaged 2.70 percent. At this time last year, the 1-year ARM averaged 3.11 percent.

 

According to Frank Nothaft, vice president and chief economist, Freddie Mac:

 

"Following April's weaker than expected employment report, and the French and Greek election results raising concerns over the stability of the Euro currency zone, long-term Treasury bond yields declined allowing fixed mortgage rates to ease to new all-time record lows this week. The economy added just 115,000 jobs, below the market consensus forecast and less than in March. And although the unemployment rate declined, it reflected fewer people actively seeking jobs."

 

 

> MORE INFO:RealtyTimes

When is a Real Estate Agent a REALTOR®?

 

A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors and abides by its strict Code of Ethics.


Long & Foster Real Estate, Inc.
Annapolis Sales
102 Old Solomons Island Road
Annapolis, MD 21401
410-266-5505 office
410-224-0875 office fax
410-867-1101 home office fax


Jenn Klarman, SRES®, e-PRO®, REALTOR®

240-832-2486 cell