Germantown Market Update
Now is a great time to get a terrific deal on an undervalued piece of Germantown real estate. In the past year, median sales prices fell 4% to $242,000. For that price, you can find a three bedroom, three bathroom townhome with a finished walk out basement that backs up to your very own backyard of woods. Home sales have fallen 68% over the past year, creating an opportunity for buyers to take advantage of anxious sellers and get a good discount on a home. Also, scour the market for foreclosure and short sale properties – these are often great value homes that will save you a lot of money.
When you’re negotiating, if sellers are unwilling to budge on price, ask about the extras like closing costs, furniture or home warranties. This is a buyer’s market and sellers know that. You can walk away with a steal of a deal and then laugh your way to the bank in a few years once your new home begins appreciating. Shop the market now before prices head up!
If you’re interested in exploring properties in Germantown or elsewhere in MD, contact your local expert Jack Kort at (301) 916-9555 to get started today!
Read current Germantown real estate news or browse current properties on the market on our Germantown property search.
