Not a lot of activity last week in the College Park market. Six homes went pending priced between $79,900 - $245,900 and there were two closed sales (below). There are some properties out there that could bring positive cash flow right now as rentals if you know anyone looking to invest.

Rates remain under 5%, falling to an average of 4.93% last week on a 30 year fixed rate loan.

ACTIVE LISTINGS: 248
PENDING SALES: 62
CLOSED SALES: 2/15/2010 - 2/21/2010

Last week in the College Park market 11 properties went under contract, mainly priced under $200K but two were priced over $800,000. We are still seeing steady activity as buyers capitalize on the Home Buyer Tax Credit. Predictions are that sales will drop off after the April 30th deadline, so if you or anyone you know is considering selling anytime soon, this would be a good time!

Average rates remain under 5%, dropping slightly last week to 4.97% on a 30 year fixed and 4.34% on a 15 year mortgage.

Many home owners are facing the possibility of foreclosure right now. If you know anyone in this situation, have them contact me for a confidential consultation. Short sales are having less of an impact on credit scores than full blown foreclosures and many people don't understand the ins and outs of the entire process. Short sales are making up a large part of my business right now and I would be happy to share my experience with anyone trying to determine their best path.

ACTIVE LISTINGS: 240
PENDING SALES: 59
CLOSED SALES: 2/1/10 - 2/14/10