Asking-price reductions on homes, by ZIP code
Market intel for home buyers and sellers alike: See how quickly homeowners in various ZIP codes reduce their asking prices and by how much.
The new data, from real estate search site Trulia, maps price reductions across the country -- as well as the likelihood of a second drop in asking prices.
In 21244, Windsor Mill in Baltimore County, the first reduction is 10 percent and comes in an average of 49 days. Probability of a second reduction: 44 percent. In the much pricier Monkton, 21111, the average reduction is 9 percent and takes a lot longer in coming -- 152 days. Sellers are also less likely to drop their list price again.
While we're on the subject of interesting links, here are two more -- both on property taxes:
Anne Arundel County, which has the lowest property-tax rate in the Baltimore metro area, is considering the possibility of an increase to deal with budget constraints. The 3 cent increase -- to 91 cents per $100 in assessed value -- would amount to about $90 extra a year on a $300,000 house.
In Baltimore City, which has the highest property-tax rate in the state (nearly $2.27 per $100 in assessed value), at least one mayoral candidate is suggesting a big decrease. City Councilman Carl Stokes will be speaking about his tax-cut proposal to the Mid-Atlantic Real Estate Investors Association in Pikesville April 20. More details here about the meeting, which is free but requires registration. (The group is expecting a big crowd.)