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The February numbers are out, and we are paying attention to three critical factors in the local market:

Mortgage rates dipped slightly only to rise again, and the Fed is warning that more increases are coming. The ghost of rates past is also haunting us. Homeowners with low mortgage rates are reluctant to sell and give up a rate as low as 3%.
Activity on the Eastern Shore is still very strong. Like other suburban markets, we are experiencing a demand for virtually all price categories. We are still seeing multiple offer situations regularly.
Perhaps the most important factor to watch is inventory. As pointed out, sellers are reluctant to come off a low mortgage rate. There has been some cannibalization of inventory as our second home market sellers sold in higher numbers over the past few years to take advantage of escalating prices.

As a buyer or seller in this market, there are opportunities if you have the right strategy. I'm happy to discuss your goals, present or future!

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Debbie Mangold Lipscomb
Benson & Mangold Real Estate
Direct: (410) 310-2830
Office: (410)-822-6665
dlipscomb@bensonandmangold.com
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March 15, 2023
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Cartoon
"Marking your territory is just the first step. If you want the property, you'll also need to put funds into escrow."
Copyright © Randy Glasbergen
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What Year
Albert Einstein is born. Einstein's theories of special and general relativity drastically altered man's view of the universe.
The day was Mar 14. What year was it?
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"In the matter of furnishing, I find a certain absence of ugliness far worse than ugliness."
Colette
Trivia
A new tea kettle that is Jasmine colored, is a shade of what color?
See the answer below.
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Debbie Mangold Lipscomb · 31 Goldsborough St · Easton, MD 21601-3119 · USA