Heads-Up for Thwarting Annapolis Homebuyer Scams
DAVIDSONVILLE, ANNAPOLIS, EDGEWATER, ARNOLD AND SEVERNA PARK REAL ESTATE
Last Tuesday night, as rickety Father Time welcomed in the infant New Year, an old saying was resurrected (as it is most years): “Everything old is new again.” It’s usually heard in relation to the temporary nature of fashions—like the width of neckties or the lengths of skirts. That has little to do with buying and selling Annapolis homes, other than reaffirming the value of deep walk-in closets. If they’re roomy enough, temporarily out-of-style finery can await their next at-bat.
The nature of buying and selling Annapolis homes differs from clothing purchases so greatly that it seems outlandish to think you can draw any useful conclusions by comparing the two. The size of a homebuying transaction and the complexity of the procedures that must be followed certainly point in that direction. Even so, in the broader context, there is more than a kernel of wisdom in the old saying. The national experience from the past two decades bears this out.
In the Year 2000 and for the first years following, the housing market showed all the signs of normalcy: where home values grew, the rise was slow and steady. But then, for a number of reasons only mildly related to the intrinsic value of homes, there developed a virtual stampede to “buy in” to avoid missing out on the widespread boom in U.S. housing values. Lax home loan oversight was a major culprit. Then came the puncture of the bubble—and an equally overdone plummet in market values. By the beginning of the second decade, market forces finally stabilized, allowing a bounce back, then today’s resumption of slow and steady value growth.
This is not to suggest that we will soon see another bubble, stampede, and the like—on the contrary, it will almost certainly be a long time before living memory has faded enough to allow a replay of that irrational sequence. But the current stable environment we consider normal does have a familiar ring: everything old is new again. It’s a saying that’s good to keep in mind.
I’m here to help assure that your new home buying and selling dealings are successfully executed…in the best old-fashioned sense!
DEBORAH LAGGINI, Long and Foster Real Estate, Annapolis, MD 21403
REALTOR, Annapolis, Davidsonville, Edgewater, and Surrounding Communities