Market Update and OFFICE CHANGE (again :) )

Instead of writing something new here, I'm gonna take advantage and use something that is already written...thanks for stopping in!

Peace,
Greg

FROM THE COVER LETTER TO MY SEPTEMBER NEWSLETTER:

Here's what’s happening to your home’s value these days... As I’ve been indicating these last couple of months, we are in a plateau of a market in Maryland these days (and I’m sure your friends in many other states would truly LOVE to be able to say the same thing!). The statistics for the Baltimore area (including ALL 6 counties surrounding and including Baltimore City) for August 2007 came in with the average sold price down just 0.03% from that of August 2006. Still, the average days on market is up 44.83% (58 last year to 84 this year) and the overall sales volume is down 17.13% ($1.1+ billion last year to $925+ million this year). At the most basic level, all of this means that 2580 homes went from ACTIVE to CONTRACT in the 6 counties, and only 485 of those contracts had a “sale of home” and/or a “seller to find home of choice” contingency on them. In short, while some areas have prices going down, other areas have prices going up, and most areas have prices holding steady…again, with everything going on with lending and the national real estate market, this is GREAT news!

On the personal front, I do have one announcement: after some careful considerations and some negotiations, I have officially rejoined my first office, LNF Ft. Meade/Odenton. If you remember, I went to LNF Severna Park because it offered me a bit more support and a mentoring relationship with one of the best in the industry. At Severna Park, I developed my skills and expertise as a top-notch real estate professional, and my business has grown in leaps and bounds as a result. However, my mentor left the company three months ago and with him went the primary reason for me to stay at Severna Park. In comparison, the Ft. Meade/Odenton office is offering me better terms, it is closer to the majority of my real estate transactions (which will help me serve my clients and coordinate my business activities more efficiently), and it is right in the heart of the Base Realignment and Closure (BRAC), which will have the single greatest positive impact on the real estate market in Maryland between now and 2011. So, that is why the address on this envelope is different from the one on last month’s envelope. :) One of the great things about being with Long and Foster is that, no matter what my “home office” is, I can use any office that is best suited for every situation (I have met with clients in 17 different Long and Fosters this year!). So, really, from your standpoint, it truly makes little practical difference what office I call “home”! :)