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Owings Mills Mortgage Rates – Owings Mills Market Update

Ken • Jun 19, 2017

How are Owings Mills mortgage rates affected by the national and local real estate market? How does the local real estate market effect my financing options as a buyer?

As an Owings Mills mortgage lender, I pride myself on helping my clients discover the answers to these and numerous other questions. I believe that accurate, relevant information is essential, especially when you are making such an important financial decision.

In some cases, the answers to these questions may vary based on your individual financial situation. In general, though, the real estate market has a profound effect on the prices of the homes you will be searching through, which can affect loan amounts and sometimes even Owings Mills mortgage rates.

As I mentioned before, I am dedicated to my clients and enjoy providing information that could be beneficial to them as they move through the mortgage process, get pre-approved for their loan and begin the search for their dream home.

According to a few reputable real estate websites, the median listing price for homes in the Owings Mills area in April of this year was $279,700.

While sellers have been asking for prices pushing upwards to $300,000, the median sales price is now actually closer to $245,000. This median sales price, which is $34,700 lower than the median listing price, has increased only 2.8% over the last year and is expected to increase less than 2% more before this time next year.

Even with this relative stability in prices, the number of sales in the Owings Mills area has continued to drop over the past few months. This drop from around 165 sales in February 2017 to only around 115 in May 2017 has kept the local market cool, making now the perfect time to buy your dream home !

If you are in the market to purchase a home in the area and have questions about Owings Mills mortgage rates and options, or about the mortgage and lending process in general, give me a call today! I would love to help you finance the perfect home for you and your family!

The Benefits of Buying A Home Over Renting

By Ken Venick • 27 Sep, 2021
Buying a home can be very intimidating and the no strings attached feeling renting can give someone sometimes seems like the easier option. But that isn’t always the case. There are many situations where it makes more sense to purchase your home instead of continuing to rent it year after year. There are alot of […] The post The Benefits of Buying A Home Over Renting appeared first on Owings Mills & Lutherville Mortgage.

Learning and Understanding The Different Types of Loans

By Ken Venick • 15 Sep, 2021
Due to the pandemic, there have been a lot of people purchasing homes or even refinancing. It is important to understand the different types of loans that are offered to make sure the buyer knows their options.      Ken Venick has been in the mortgage loan business for over 30 years and is your […] The post Learning and Understanding The Different Types of Loans appeared first on Owings Mills & Lutherville Mortgage.

Understanding What A Mortgage Broker Does

By Ken Venick • 03 Sep, 2021
Find yourself wondering what a mortgage broker is? A mortgage broker acts as an intermediary between the borrower and the lender and controls transactions between the two. They take care of finding the best mortgages and interest rates by using their personal network of financial institutions and lenders.    Working with a mortgage broker is […] The post Understanding What A Mortgage Broker Does appeared first on Owings Mills & Lutherville Mortgage.

What is a Renovation Loan?

By Ken Venick • 27 Aug, 2021
Just bought a fixer upper that needs a lot of work? A home renovation loan gives the homeowner the funds needed to not only purchase the home, but fix it up as well. A home renovation loan should only be considered if the renovation of the home will increase the property value or reduce long-term […] The post What is a Renovation Loan? appeared first on Owings Mills & Lutherville Mortgage.

Hidden Expenses When Buying A Home

By Ken Venick • 20 Aug, 2021
Congratulations, you are looking to buy a new home! This is such an exciting time in your life, but it can also be an expensive one. When it comes to buying a home there will be plenty of hidden expenses you may not have taken into account when you decided to become a homeowner. It […] The post Hidden Expenses When Buying A Home appeared first on Owings Mills & Lutherville Mortgage.

5 Important Tips A Homeowner Should Know When Narrowing Down An Area To Live In

By Ken Venick • 13 Aug, 2021
The home buying process starts with figuring out the location of where you want to live. This can be extremely overwhelming with a lot of different scenarios to think about and a lot of decisions to make. Here at Ken Venick, we want to make the home buying process as easy as possible and that […] The post 5 Important Tips A Homeowner Should Know When Narrowing Down An Area To Live In appeared first on Owings Mills & Lutherville Mortgage.

Why Is Your Lender Requiring You To Have A Co-Signer?

By Ken Venick • 06 Aug, 2021
On the road to buying a new home? Is your lender requiring you to have a co-signer in order to get your loan? We break down the requirements of a co-signer to give you a better understanding as to why you may need one in the first place.     A co-signer is someone (like […] The post Why Is Your Lender Requiring You To Have A Co-Signer? appeared first on Owings Mills & Lutherville Mortgage.

Money Moves To Make When Your Interest Rates Are Low

By Ken Venick • 26 Jul, 2021
The Federal Reserve has said it will keep it’s interest rates close to zero, but it wont stay this way for long. Homeowners have been quick to put their houses on the market since more and more buyers are on the prowl are on the hunt for a new place to call home.      […] The post Money Moves To Make When Your Interest Rates Are Low appeared first on Owings Mills & Lutherville Mortgage.

5 Home Renovations With The Highest and Lowest Returns

By Ken Venick • 19 Jul, 2021
Home renovations are one of the hottest topics in 2021. It gives an owner the chance to turn their space into exactly what they need it to be, whether they have just moved in, making more room, or getting ready to put it on the market. Home renovations can increase the value of a home […] The post 5 Home Renovations With The Highest and Lowest Returns appeared first on Owings Mills & Lutherville Mortgage.

Top Ways To Show A Seller Your Offer Is Legit

By Ken Venick • 29 Jun, 2021
It may take weeks, months, or even years to find your dream home. And one you find it, you want to do everything you can to secure it. There’s always the fear that someone else can snatch it up — which means you need to seal the deal with a competitive offer!    In this […] The post Top Ways To Show A Seller Your Offer Is Legit appeared first on Owings Mills & Lutherville Mortgage.
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