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Answers (3)
- Denise and Rich Fox, "Denise and Rich Fox"
- Contributions:544
I also just attended a meeting that Wayne Six, a very well respected appraiser in the Frederick area, spoke at. He also mentioned that what we have now is a "split market". That means that the houses $350k and below are moving quickly and often yes, with multiple offers. These properties are gaining value and doing well. As you start to go up, basically with each $100k increment, the prices stabalize or even decline a little. The $600k and over being of course the toughest. One of the best things about a split market however, is that is the first sign of true recovery. His prediction as well as ours is in alignment with the last answer that it will likely be 2 years before we see increases.
- sunnyview
- Contributions:25139
If you don't have an agent already John111, Mr. Highland looks like a keeper with honest information to share. If I were looking in MD, I give him a call myself.
- Chris Highland, "CKHighland"
- Contributions:57
Prices are not going up yet, but they may have reached a bottom. We believe we are close, due to several indicators, including seeing multiple offers on some very well-priced foreclosures. We probably won't see any price increases for some time, as long as we have more foreclosures coming on the market. It could easily be 2 years or more before we see any significant appreciation.
We just posted the year-end statistics on our blog if you'd like to take a look. All Things Frederick Real Estate Blog You can see the graph of how the prices have dropped.
Is the market in Frederick Md starting to correct itself? It appears prices are going back up.
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