ResalesHoward County, Maryland Boasts Steamy Sellers" Market
Situated within a comfortable commute between Baltimore, Maryland and Washington, D.C., Howard County and its star planned urban development "Columbia," are in the throes of a hot sellers" market.
"Beautiful Howard County with its rolling hills, excellent highway system, and great schools is a wonderful place to live," says Realtor Emilie Christiansen. "History and mystery abound in Howard county from whispered ghost tales in 230-year old Ellicott City, home to the oldest railroad station in America, to the healing powers of a relic of St. Anthony at the St. Joseph Cupertino Franciscan Friary.
Suggests Christiansen, "Explore African-American history at the African Art Museum of Maryland and the Howard County Center of African American Culture, located in Columbia. And enjoy scenic areas such as the Patapsco Valley State Park and Columbia"s Lake Kittamaqundi, where pedalboats are a favorite past time. The Bollman Truss Bridge is also something to see. Located at the foot of Savage Mill, it is one of only two of its kind left in the world."
Christiansen explains that Columbia, Maryland is a great town for families as there are many things to do. "Columbia was 35 years old in June 2002," says Christiansen. "It has 10 villages and 5,300 acres of permanent open space, including 144 tot lots, 225 pedestrian bridges, the 40-acre Symphony Woods, 3 lakes, 19 ponds and natural open space areas, interlaced with more than 83 miles of pathways for walking, biking and jogging. There is also a vast network of plazas, picnic areas, public areas, tennis courts, and two parcourse fitness trails."
Says Realtor Joe Dent, "This town, originally developed by James Rouse as a bedroom community for both Baltimore and Washington, has attracted a wide variety of industries including hightech and life sciences. The county is within a one-half hour drive of BWI airport and the City of Baltimore. Howard County has a highly educated workforce and is a location for companies including high technology, telecommunications, biotechnology, R&D, and wholesale distributors. Employment is over 146,600, and the unemployment rate is a low 2.8%. Howard has 7,000 businesses, and 200 employ significant numbers of workers. The major employers are the Johns Hopkins Applied Physics Laboratory, Corvis Corporation, Verizon Wireless, W.R. Grace, The Rouse Company, and Arbitron."
Continuing more than two years of a strong sellers market, there are no signs of change," says Realtor Jerry Boyer. "The upper end properties($350,000 plus), showed signs earlier this year of slowing, but have picked up again and are now as strong as ever. It does help for them to be in top shape to compete with a slightly increased inventory. Properties under that price continue to sell briskly, and the prices are increasing at an elevated rate. The number of homes available in this price range is still quite small, frequently resulting in multiple offers.
"Many buyers are resorting to "escalation clauses" to compete with the other offers," he explains. "That is to say, they will increase their offer to beat a competitor, by a specified amount, to a certain maximum amount. Due to our proximity to Washington DC, this area should continue to see the benefits of increased government spending, and this will help sustain this market condition. Housing prices range from multimillion-dollar palatial estates to $70,000 condos. The average being in the $250,000 to $275,000 range. High demand for housing in the county is due primarily to the top ranked school system, and the well-planned use of the land. This includes a number of parks and recreational facilities."
"Most favorable interest rates continue to stimulate the market and allow buyers to afford more home," says Realtor Leon Hasnain. "As summer is winding down, and more inventory is coming on the market daily, home prices have continued to appreciate."
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