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Olney, MD Real Estate News

By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for October 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month. The 2008 absorption numbers surpassed the 2007 numbers.  I expect this trend to continue.  Absorption Rates:  October 2008  11.6% absorption rate October 2007  9.6% absorption rate October 2006  13% absorption rate 
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By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for September 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month. The 2008 absorption numbers are still lagging behind the 2007 rates by about 3% for the last couple months. Absorption Rates:  September 2008  10.2% absorption rate September 2007  13.7% absorption rate September 2006  12.6% absorption rate 
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By Dr. Stacey-Ann Baugh, A doctor who makes house calls.
(Century 21 New Millennium)
To Benefit the U12 Olney Pirates Baseball Team  2000 Rose Theatre Circle Olney, MD 20832  go to www.PiratesVendorFair.com for more info You can order online too!   Special Holiday Deals Just for You!   Come and Shop!  Bring a Friend!  Send this to all your friends! Get a head start on your holiday shopping and support a great cause!  We are having a VENDOR FAIR to help raise money for our travel baseball team's trip to Cooperstown!  There will be a dozen vendors,  a silent auction, as well as light refreshments!    Stop by anytime between 10 a.m. and 4 p.m.         Southern Living    Lia Sophia Jewelry    Fitness First    Mary Kay Cosmetics      Silpada Jewelry     Photographer-Beth Lightbody    Hand Made Scarves    Tastefully Simple              Pampered Chef    Purses    Private Quar...
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By Dr. Stacey-Ann Baugh, A doctor who makes house calls.
(Century 21 New Millennium)
Featuring a Haunted Trail of Terror, Haunted Hayride, Haunted House, & Corn Maze.  There will also be food, music, and a bonfire.  The Field of Screams is held on the Boys & Girls Club Sports Field in Olney.  Visit the website:  www.screams.org for more information about times and admission. Oct 10-12, Oct 16-19, OCt 23-26, Oct 30-31, Nov 1
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 OLNEY REO BARGAIN - MONTGOMERY COUNTY, MARYLAND Smart home buyers are watching the inventory of lender owned homes for the fall purchase bargains. The lenders have a surplus inventory of owned properties due to the high volume of foreclosures. It is a good time to buy with the lowest prices and best available selection in several years.  Buyers need to have a pre-qualification letter in hand since that information needs to be submitted with any offer. Ask us for a referral to a loan officer. Select us as your exclusive buyer agents and we will show you how to successfully purchase a REO property. roykelley@mris.com 5000 TACKBROOKE DR, OLNEY, MD 20832     BARNSLEY MANOR ESTATES - 4 BEDROOMS/2.5 BATHS - $619,900   PREVIOUS TRANSFER DATE AND PRICE:  30-Dec-2005  $762,900 PUBLIC RECORDS PR...
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       As many people already may know; The Government has agreed to bailout all troubled assets, within corporations on Wall St, mainly. This certainly affects us, both good and bad.      This most important thing to realize is, it was inevitable. This had to happen or our situations would be worst than that of the depression era.      Mortgage rates have gone down and will continue to drop a little more even, to stay somewhere just under 6%, for the time being.  This will help 'kickstart' the housing sector somewhat.      Regrettably, we are all left holding the bag, as taxpayers.  With, what some say to be, upwards of 1 Trillion dollars in deficit in 1 year; taxes will have to be raised. None of us are immune. Both the little guy and the big will be paying for this. Lets just hope it...
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FANNIE MAE REO PRICE REDUCED - OLNEY, MARYLAND Fall home buyers should be watching the inventory of lender owned foreclosures for bargain prices. The surge in foreclosures has resulted in a large number of lender owned properties. The lenders are highly motivated to sell them as quickly as possible and prices are reduced until the homes are under contract. Buyers do need to have a pre-qualification letter in hand since that information must be submitted with any offer. Contact us if you need a referral to a loan officer. We provide client reports on lender owned homes and represent buyers as their exclusive agents. roykelley@mris.com   3 PARSON GROVE CT, OLNEY, MD 20832     HALLOWELL - 3 BEDROOMS/3.5 BATHS - $383,900   PREVIOUS TRANSFER DATE AND PRICE:  27-Oct-2006  $495,000
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By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for August 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month. After a significant drop in June, July and August have held steady at 14%.  My eye is on the 2nd half of 08 to see the market hold steady over 07.  It was this time last year that the market came to a standstill. Absorption Rates:  August 2008  14% absorption rate August 2007  17% absorption rate August 2006  16% absorption rate
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Today Freddie Mac and Fannie May were taken over by the government. This is a milestone, in the current housing situation and hints at many more changes to come.  Namely, does this signify the bottom of the housing market? Many think so. Mortgages rates dropped almost a 1/2 percent today for home buyers. I think the most interesting questions in our area markets is; the upper echelons of the housing markets in the D.C. metro areas are doing quite fine. How will this affect our market? The government taking over these two firms will positively effect our market in a great way. There will be more money to lend and it will be easier to obtain a loan, for qualified buyers. If you are in the market to buy a home, or if you are considering to buy a home; seriously think about purchasing by th...
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By Pam Ringler
(Long and Foster)
Olney is a great place to live!  It is extremely family oriented and has many ammenities right at your fingertips! Fabulous restaurants, wonderful shopping, close to many different modes of transportation, and friendly people ready to speak to you and help at a moments notice. Try the great food at the Olney Grille. The crab cakes are yummy. Hunan has delicious Chinese food, and Mama Lucia's Italian treats will knock your socks off. Pizza is delicatable! If Japanese is your cup of tea try Sakura,. The burgers at Cheeburger,Cheeburger are fabulouso!! There are also many more places to indulge. My favorite is Cold Stone. They have the best ice cream ever!!! I could eat it for breakfast, lunch, and dinner!! Shopping in Olney is my passion. TJ Max and Home Goods are so much fun. When they p...
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By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
There are 3 (and only 3) keys to success and they all start with the letter A. Aptitude, amplitude, and (most important) attitude. Sports creates so many great analogies because the results can be so clear and concise.Aptitude- Michael Phelps had the god given ability to swim fast...No question about that. However, there are many other good swimmers who have better physical traits, but they are not great. Why?Amplitude-No matter how much god given talent Phelps has, he had to jump in the pool every day and train. Showing up seems like the easiest part of the success, but consistency is vital to greatness. But even showing up doesn't guarantee greatness. Why?Attitude-Above all this is the most significant key to success. Phelps had to dream that he would be able to set the record. Withou...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
OLNEY MARYLAND REAL ESTATE MAPS & FACTS.  Olney is a wonderful town in Montgomery County, Maryland.  Not to close to other developed areas, but not too far from many primary employment centers.  The public schools are popular with students and parents. Sherwood High School is the cluster for most of Olney.  Visit the Montgomery County Public School Schools site and review the Schools At A Glance for information.  Olney offers residential communities with homes of many styles and types, single family homes, town homes and a few condos.  SINGLE FAMILY HOMES in the Olney real estate market are priced from about $400,000 to just over $1,500,000.  The average price for Single Family Homes in Olney is about $600,000.  The average for Single Family Homes in Olney is about 24 years old.  Popula...
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As you are well aware of by now, the real estate market has started to pick up by now. There are many reasons for this. Let me be clear by first saying: MANY INDICATORS ARE SUGGESTING THAT THE PRICES OF HOMES, AROUND THE COUNTRY, WILL DECREASE IN VALUYE. AGAIN, I THEY WILL DECREASE IN VALUE. PEOPLE HAVE TO BE CRAZY TO BUY A HOME THEY CAN GET FOR CHEAPER IN 6 MONTHS RIGHT? TRUTH BE TOLD, MORE OFTEN THAN NOT, THESE ARE THE CASES OF MOST CURRENT HOME BUYERS. WHY WOULD ANYONE BUY A HOME IN THIS SCENARIO? THERE IS ONLY ONE REASON I CAN THINK OF....TO SAVE MONEY!!! IF HOMES PRICES DROP AND INTEREST RATES INCREASE YOU WILL HAVE ALREADY BEEN TOO LATE TO TAKE ADVANTAGE OF THIS HOUSING CRISIS PRICES AND INTEREST RATES ARE EXTREMELY LOW. THIS WAS THE REASON PEOPLE STARTED TO BUY HOMES IN A FRENZY ...
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By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for July 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month. After a significant drop in June, July's numbers improved.  There was also an improvement over July 07.  My eye is on the 2nd half of 08 to see the market hold steady over 07.  It was this time last year that the market came to a standstill. Absorption Rates:  July 2008  14.5% absorption rate July 2007  12.4% absorption rate July 2006  19.7% absorption rate
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By Joe Buffington, GRI, CDPE
(RE/MAX Realty Centre)
Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for June 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month. After a bump in May, we saw a significant drop this month over last years absorption rate. Absorption Rates:  June 2008  11.1% absorption rate June 2007  20.4% absorption rate June 2006  17.5% absorption rate% absorption rate
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