We just came across this article from the National Association of Realtors, which indicates that the national trend is much like what we are discovering in the Baltimore Metropolitan area Anne Arundel County, Baltimore City, Baltimore County, Carroll County, Harford County and Howard County). Namely, the pending real estate sales in 2011 were higher than in 2010 for the second half of the year, but the increase in contracts is not showing up at the settlement table. The article goes on to explain that the "fall-throughs" are due to short sales taking longer to close (or not closing at all) and we also find that sometimes financing is declined due to the property not appraising or the borrowers not qualifying. We still take this increase in pending contracts as a positive sign that more people want to buy and believe this increase in buying interest will soon be reflected by an increase in settled sales.
All of the associates at YWGC Realty are prepared to counsel buyers and sellers on the best ways to navigate the home purchase/sale transaction successfully. Feel free to contact us if you are in the market to buy or sell a home.