Maryland Market Update

 What’s happening in our Market?

Over the past few months, we’ve seen a significant shift in our real estate market. Interest rates have gone up, come down, gone up even more and recently receded a little. Inventory is still low and buyers are being pickier. Gone are the bidding wars on every home; they have now been replaced by multiple offers on some properties while others languish. Days on market have gone up but still there are few homes on the market.

What we know

· The market has slowed significantly.

· Home prices have leveled and, in some areas and categories values have dropped.

· High interest rates and inflation have had an impact on cooling the housing market.

· Multiple offers have disappeared except when they haven’t (there are always exceptions).

· Low housing inventory continues, and will for the foreseeable future.

· The crazy-hot seller’s market was not sustainable.

What we don’t know and a couple of things we do

· Will the Fed’s high interest inflation strategy work? Early indicators are it might.

· Will home values crash? We are not seeing evidence this will happen.

· Is it a good time to buy? The old saying is, “The best time to buy is when everyone thinks it isn’t.”

· Is housing a safe investment? Look at data for the past 50 years. It is! Plus, you get to live in your investment.

What’s in the future?

2023 will be a pause or transition year but the market will still continue to be solid. 2024 is being projected as a rebound y
ear and back to the hot seller’s market, but maybe not so crazy as what we’ve seen the last two years.

Interest rates are also projected to fall back to more reasonable levels over the next two years. Be prepared that it could happen sooner. 

Now what? 

More than ever, I’m hearing buyers and sellers are looking more closely at the experience level of their agent before choosing who they might work with. When the market was hot and blazing, that consideration seemed less important. It wasn’t, but it seemed so. Now, experience in marketing and negotiating skills are more relevant.

How do I navigate these perplexities? That’s easy – call Boyd! I can answer questions and discuss successful strategies to help you make great decisions.  

The Quickest Ways to Introduce Me to the People You Care About:

443-447-5511 or


How to Get Your Rent Reported to Credit Bureaus

For many, rent is the largest monthly expense, and you can take steps to make sure your on-time rent payments are being reported to credit bureaus and helping you build credit.

Building a credit history is crucial in today’s economy. It allows you to access diverse financing, obtain lower interest rates and qualify for future mortgages. Unfortunately, rent payments are not automatically factored into your credit score. That means, for many people, their largest monthly expense doesn’t help build credit.

You can make sure your on-time rent payments are being reported to credit bureaus through rent reporting services. There are two ways that your rent can be reported through a rent reporting service: your property manager can report payments or you can report payments yourself.

Your Property Manager Reports Rent Payments

Your landlord may already be automatically reporting your rental payments to credit bureaus, but not all landlords do. Contact your property management office to determine if your property is participating in a rent reporting service, such as Freddie Mac’s new initiative with Esusu Financial, Inc. to help renters build credit. Some of these programs, like Freddie Mac’s new initiative, are paid for by the landlord and do not charge tenants a fee to report on-time  rent payments.

You Report Rent Payments

If your property doesn’t participate in a rent reporting service, you can sign up for one on your own. Regardless of the approach you take, there are many rent reporting services to choose from, and it’s important to ask the right questions before signing up.  
Does your property already work with a rent reporting service? Check whether your property manager recommends a service they already work with. This may be the easiest route to have your on-time payments reported.
How much does it cost? Determine how much rent reporting costs. For properties participating in Freddie Mac’s rent reporting initiative, the reporting service is free to tenants, but most providers charge fees, including monthly fees and setup fees. Make sure to read the terms of service closely.
Does the service report to all three credit bureaus? Make sure your data goes to all three main credit bureaus in the United States, which each generate its own credit score.
How are late or missed rent payments handled? Understand how late or missed payments are treated. Anyone can fall on hard times, but not every rent reporting service treats this the same way. You’ll want to understand if late or missed payments count against you.
Is my data secure? Make sure to research the reputability and data practices of any rent reporting service you choose to work with.
What’s the cancellation policy? Some providers allow you to cancel at any time, but others aren’t as flexible. Make sure you know before signing up.
(Source: Freddie Mac)