DO YOU KNOW YOUR HOME’S TRUE VALUE? Jonathan and Angela-Marie,
SEPTEMBER 2020 REAL ESTATE MARKET REPORT
Receive the most accurate assessment of your home's value:
NO
www.RussSellsMilestone.com
HOMES FOR SALE
7
4
HOMES SOLD (SINCE 07/01/20)
HOMES PENDING
Milestone Homes Sold Since July 1st, 2020 BEDS
TOTAL BATHS
EST. SQ. FT.
SOLD PRICE
SOLD DATE
8 Milestone Manor Court
4
3.5
3,064
$640,000
07/31/20
Sold
12027 Arista Manor Way
4
3.5
2,628
$615,000
07/28/20
Sold
12517 Hawks Nest Lane
3
2.5
1,432
$438,000
07/24/20
Sold
12103 Stardrift Drive
5
3.5
2,468
$566,000
07/23/20
Sold
12509 Hawks Nest Lane
4
3.5
1,775
$464,000
07/20/20
Sold
12006 Milestone Manor Lane
4
3.5
3,066
$600,000
07/17/20
Sold
21206 Emerald Drive
4
2.5
2,468
$535,000
07/10/20
STATUS
ADDRESS
Sold
Russ Gelston and RE/MAX Realty Group are not in any way affiliated with Milestone Owners Association, nor is this in any way an official advertisement or publication of Milestone. © 2020 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the Bright MLS between July 1st, 2020 and August 12th, 2020. Listings and sales may not be those of RE/MAX Realty Group. The Bright MLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.
Inventory and Appreciation The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand. Use of Home Equity Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow. This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth. Source: www.watersongmortgage.com
COMPARING 2020 TO 2008 12.5%
11.4%
Annual Home Price Appreciation
8.5% 8.7%
8.6%
Source: Black Knight
6.5% 4.4%
5.2% 5.5%
6.4% 4.8% 4.7%
The 6 Years Leading up to The Housing Crash
The Last 6 Years
2000 2001 2002 2003 2004 2005
2014 2015 2016 2017 2018 2019
Total Home Equity Cashed Out Then...
by Refinance in Billions
Now...
Source: Freddie Mac
Year
Dollars
Year
Dollars
2005
$263B
2017
$71B
2006
$321B
2018
$87B
2007
$240B
2019
$89B
Total
$824B
Total
$247B
PREPARED ESPECIALLY FOR JONATHAN AND ANGELA-MARIE WILLIAMS
Russ Gelston
REALTOR®, Associate Broker MD & VA Property Manager RE/MAX Realty Group The Wineman Team
301.370.6005
Office Phone: 301.258.7757 WinemanTeam@gmail.com www.RealEstateSold.com www.RussSellsMilestone.com Each Office Independently Owned and Operated.
This postcard is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. E&OE covered. Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020
COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market. Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at 301.370.6005.
RE/MAX Realty Group 6 Montgomery Village Ave., Suite 200 Gaithersburg, MD 20879