Prince George County, in Southern Maryland, is a standout as one of the weakest housing markets in the country. That’s unfortunate, because it’s basically a bedroom community for Washington, DC, and that area is seeing its housing market pick up. While it seems strange that that would be the case, there are always housing markets that are going to do better than other markets. Where those problems are seems to be relatively random quite often, which means that it isn’t always the area you would expect to be struggling. Sometimes, the struggles come from places where you think the market would be much better than it is.
No matter where you live – Washington, Maryland, or somewhere else – there will be ups and downs in the housing market. That’s expected and only makes sense, but that also doesn’t mean that you just have to accept whatever you’re being told about your current housing market and situation. In short, you can still buy houses at good prices in almost any community, and you can still sell your house if you really need to.
The main problem sellers run into is that they owe too much on their homes, or they don’t want to sell them for less than they paid, because they still think that they’re worth more than that. Sometimes, it’s important to swallow your pride and accept what the market will bear, instead of attempting to get more and ending up in a serious financial problem because of your desire to get a specific amount for your home. That’s what needs to be done in Maryland, and could be part of the problem when it comes to why homes aren’t selling. The homes there are generally expensive, too, so it’s logical that the economy hasn’t quite caught up yet. Right now, lower-priced homes are selling faster, but the others will catch up.