Is it right time to buy a house in Maryland and/or Virginia?

The neighbouring states of US capital city have remained the most favourite real

estate destination so far. The beaches of Virginia and beauty of Baltimore have

always attracted people. Here are a few pointers on why to buy properties in this

area.

Buying a home in Maryland

Baltimore, The capital of Maryland State is by far one of the oldest and most

beautiful cities in US. The state has low overhanging housing inventory and more

vacant lots that’s why its real estate market is booming. The houses or town homes

in the Baltimore city are very affordable which means increased savings and lower

mortgage. This is one of the greenest states in US, all the more reason to buy a

home in Maryland.

The number of homes for sales in Maryland has seen slight increase in past few

years although the real estate market is yet to register a significant boost the

trajectory is certainly showing a positive trend.

The best place to shop for real estate is Prince Georges County in Maryland which

shares the border with DC. The rise in number of Homes for Sale in Prince

Georges County has moderated the property rate if not lowered. The Montgomery

and Prince George’s County saw a 12% increasing in housing sales than last year

although the inventory still remains below peak rates.

Buying a home in Virginia

Virginia Beach Baby! It’s the most likely reason to buy a home in Virginia. You can

find many beach properties in Virginia but the most popular are Cape Story - Also

known as Cape Story by the Sea, North End - Round the corner at Fort Story,

Sandbridge Beach - The Sandbridge area of Virginia Beach, the last one is in remote

region but if you love tranquillity then you will definitely love this neighbourhood.

Beach properties saw a rise in sales however the northern Virginia has witnessed a

so so property market in 2015. The New Year should be better though. The largest

sale was in the single home family houses segment which means affordable houses

were up for sale. Some areas like Del Ray in Alexandria and Falls Church City are

doing better due to lower property rates. Buying a single family home in Virginia is

the best option right now.

Buying a home in Washington DC

This is probably the most expensive city in the US the selling or buying a home in

DC can prove a bit stickler. So the best way to locate a property of your choice is

with the help of a DC based real estate agent. The DC property market is no good

news for home sellers as the rates have been practically flat for the best part of the

last year.

Average price per square foot for Washington DC is $500 which is almost 6% more

than last year. So if you want to buy a home inWashington DC, now is the time to

act.Although investorsare yet not ready to take advantage of a market,it is slowlynut

steadily returning back to the traditional sales.

As I had mentioned earlier the neighbouring The Montgomery and Prince George’s

County are the most exciting property market in this locality right now.

Overall scenario

Overall the real estate market in Maryland and Virginia looks confident but DC looks

a bit apprehensive. It’s your call where and when you would want to buy property but

the best bet right now seems to be The Montgomery and Prince George’s County.

Many DC real estate agents have described Prince Georges County as the last

affordable real estate area since the rates continue to raise due to higher demand

from neighboring middleclass families.

It is advised to hire a real estate agent but use your GPS and internet to do some

research first, it always helps.