Foreclosure Inventory Down from Last Year - 05/31/12 08:32 AM

According to a recent report released by CoreLogic, foreclosures are down 15.4% since April 2011 nationwide.  This equates to a total of 66,000 homes.  This figure only takes into consideration homes that have been repossessed, and not short sale approvals or deeds-in-lieu of foreclosure.
Since September 2008, the beginning of the financial crisis, banks have foreclosed on 3.6 million homes.  CoreLogic defines foreclosure inventory as the number and share of mortgage homes that have been placed into the process of foreclosure by the mortgage servicer.
While the numbers indicate a decrease in foreclosure inventory since one year ago, the numbers … (0 comments)

HomeGain 2012 Home Improvement Survey Results - 05/29/12 06:45 AM
The HomeGain 2012 National Home Improvement Survey Results are in, and they shed a lot of light on the small things sellers can do to increase the value of their Montgomery County, MD homes.  The HomeGain survey was conducted by asking nearly 500 professional real estate agents nationwide for the most inexpensive, yet valuable home improvements a seller can make.
 
Since the survey began in 2003, “Clutter and De-clutter” has consistently owned the number one spot.  In past surveys, “Staging” and “Lighten and Brighten” have competed for the number two spot. 
“In a buyer’s market, sellers need to dress their … (0 comments)

Dealing with Problematic Tenants - 05/28/12 05:39 AM

Being a landlord can be a challenge sometimes.  Your duties are not solely limited to property maintenance; there is also a human aspect.  This aspect, aka the tenant, can cause more problems than everything else combined.  If you are a real estate investor in Montgomery County, MD, continue reading to learn some valuable tips that may help you deal with problematic tenants.
·         Late Rent
This is probably the most common issue.  If it’s only happened a few times to you, consider yourself lucky.  Most landlords have had at least one tenant who could never seem to get their rent … (3 comments)

Events in Montgomery County, Maryland - 05/25/12 09:47 AM
Farmers’ Markets are in the air – especially in Montgomery County, MD.  If you’re searching for some outdoor events in Montgomery County, MD this weekend, then you’ve come to right place.  Scroll down for a list of things to do with the entire family:
 
Olde Towne Market
When:  May 25
Where:  City Hall Parking Lot at 31 South Summit Avenue, Gaithersburg, MD 20877
What:  This market features food, artist and crafters, local businesses, flea market items and more!
 
Just us Youth! Media Festival
When:  May 26
Where:  Silver Spring Civic Building at One Veterans Place, Silver Spring, MD 20907
… (0 comments)

On the Road to Recovery - 05/24/12 07:54 AM

The National Association of Realtors (NAR) recently reported that the housing market is on the road towards recovery.  Silver Spring, MD homeowners have been seeing increases in home values in the DC metro area since last year.  Now the rest of the nation is catching up, which is great news for the housing economy as a whole.
While real estate professionals and economic analysts agree that all data is pointing towards improvements in the market, not everyone agrees on how long these improvements will last.  There is still much uncertainty in the economy, and while consumer confidence is higher than … (1 comments)

Inexpensive Home Staging Tips - 05/22/12 08:12 AM

In a perfect world, every owner wanting to sell a home in Montgomery County would be able to hire a professional stager to stage their home.  However, the reality of real estate is that many sellers are stretched thin enough as it is.  Selling a home is expensive after you factor in updates and upgrades, commissions, labor, etc.  To make the life of a seller a little easier, I’ve created a list of inexpensive home staging tips.
Pam Christensen, founder and owner of Staging for Charisma LLC, remarks: "There are some staging tips that apply no matter where you live…Some tips … (2 comments)

5 Inexpensive (and Easy) Ways to Upgrade your Investment Property - 05/21/12 09:15 AM

Investment Properties in Silver Spring, MD often require constant maintenance.  Parts of Silver Spring are older, and while this can sometimes add historic value to the real estate in this area, it can also subtract from the value if the property is outdated.
Without diminishing the integrity of your Silver Spring property, here are five inexpensive upgrades you can do yourself:
1.       Paint
Nothing works magic quite like fresh paint.  Neutral colors are always safe, but they can also be boring.  Consider adding some accent walls to highlight certain features in the home, like a fireplace.  Google search interior design … (1 comments)

Events in Montgomery County - 05/18/12 09:28 AM
Trying to figure out what to do this weekend?  You’ve come to the right place.  There are plenty of family-friendly events in Montgomery County, MD.    
 
Art after Dark
When:  May 18
Where:  Arts Barn at 320 Kent Square Road, Gaithersburg, MD 20878
What:  Step into a tricked out mansion with edgy visual art, local music, and great food.
 
DanceFest
When:  May 18 - 20
Where:  BlackRock Center for the Arts at 12901 Town Commons Drive, Germantown, MD 20874
What:  ClancyWorks is a modern dance company that will be hosting their annual DanceFest for dancers and dance-lovers to enjoy.
… (0 comments)

Shadow Inventory in the DC Metro Area - 05/17/12 08:15 AM

Home values in the DC metro area have been moderately suppressed this year due to “shadow inventory.”  Shadow inventory is the foreclosure and REO inventory that banks are holding in their pipeline.  Many consumers, and some real estate professionals, fear that the real estate market will be flooded with these properties, causing the value of homes in the DC area to decrease.
There are a few reasons why this issue does not pose as great a risk as some think.  While recent federal guidelines placed on major banks have caused the foreclosure process to be sped up, the process is … (0 comments)

How Do You Know When It’s a Good Time to Sell? - 05/15/12 10:08 AM
It can be difficult to know when it’s a good time to sell Montgomery County real estate.  That’s why staying on top of economic reports and real estate news is so important.  There are several economic factors that can create a positive climate for home sales.
Consumer confidence is the first indicator you should be evaluating.  All other indicators could be good, but if Montgomery County homeowners are feeling pessimistic about the current and future economy, home sales will stall.  Based on a recent Fannie Mae housing survey, consumer confidence has improved significantly since a few years ago. 
Another excellent indicator … (1 comments)

The Art of Real Estate Investing - 05/14/12 08:33 AM

Investing in real estate in Montgomery County is as much an art as it is a science.  The science portions relates to the financial calculations and general number crunching investors must do to make sure their profit is intact.  But the art of investing is something that cannot truly be defined.  It is something that is acquired through a combination of experience, knowledge, success, and believe it or not, even failure.
BiggerPockets.com touches on the artistic side by listing five books that can help real estate investors and entrepreneurs succeed in their real estate endeavors.  I’ve decided to list these … (1 comments)

Montgomery County Events - 05/11/12 09:42 AM
There is also something to do with the family in Montgomery County – including plays and puppets shows for the little ones, and community festivals for all ages.  Scroll down to see a list of events in Montgomery County, MD happening this weekend. 
 
Pinocchio
When:  May 11 – June 3
Where:  the Puppet Co. at 7300 MacArthur Blvd., Glen Echo, MD 20812
What:  Enjoy this classic story about a wooden puppet who dreams of one day becoming a real boy.  Recommended for grades K – 6; running time is 45 minutes.
 
Explore with Dora and Diego
When:  May 11 … (0 comments)

Bank of America Extends Principal Reductions and Modifications to Struggling Homeowners - 05/10/12 07:56 AM

Beginning as early as next week, certain homeowners in Montgomery County who have delinquent mortgages with Bank of America will receive offer letters in the mail.  These letters will be mailed to about 200,000 borrowers around the country.
The criteria to qualify are very specific:
·         The homeowner must owe more on their home than it is worth.
·         The homeowner must be at least 60 days late on their mortgage payments as of January 31, 2012.
·         The homeowner’s gross monthly expenses must be at least 25 percent of the gross annual household income.
·         The subject loan must … (1 comments)

Cheap Ways to Improve Curb Appeal - 05/08/12 09:06 AM

If you are planning to sell a home in Silver Spring, MD, you have probably thought long and hard about improving the interior of your home.  However, the exterior is equally important.  As the saying goes, “You only have one chance to make a first impression.”  It doesn’t matter how modern your kitchen is or spacious your bathrooms are, if the exterior falls flat, buyers might not even make it to the front door.
The word “landscaping” alone can be a rather intimidating one, with dollar signs swirling around it, but it doesn’t have to be expensive or daunting.  If … (5 comments)

Why You Need a Maintenance Fund for Your Investment Property - 05/07/12 07:58 AM

Whether you have one investment property in Montgomery County, MD or several investment properties in Montgomery County, MD, it’s important to create a maintenance fund if you haven’t already. 
A maintenance fund is exactly as it sounds, a monetary reserve set aside specifically for repairs and maintenance expenses associated with your investment property in Montgomery County, MD.  Without one, you’re setting yourself for disaster.
As any experienced investor knows, maintaining an investment property throughout the years can add to up to big costs.  Some repairs will be minor and inexpensive, such as paint and small fixture replacements (like knobs on … (0 comments)

Montgomery County, Maryland Events - 05/04/12 06:37 AM
May fun is in the air, and there are plenty of events in Montgomery County, MD this weekend that the entire family can enjoy!  Scroll down to see a list of things to do in Montgomery County, MD. 
 
Spring Fair
When:  May 4
Where:  Rock Creek Forest Elementary School at 8330 Grubb Road, Chevy Chase, MD
What:  Bring the entire family for fun-filled day of crazy hair painting, obstacle courses, bounce houses, giant slides, a rock climbing wall, cake walks, face painting, temporary tattoos, carnival games, games, prizes, food, and an iPod raffle!
 
The Experts Tell All:  Mama and … (0 comments)

Montgomery County, MD Foreclosure Report - 05/03/12 07:28 AM

The national homeownership rate has dropped to its lowest level since 1997 according to a report released by the Census Bureau on April 30, 2012.  This decrease was seen in all four census regions, with the largest drop reflected in the Northeast region.
Though overall foreclosure activity in Montgomery County, MD has dropped since May of 2011, the county still continues to remain active, with cities Damascus, Clarksburg, and Germantown taking the lead.  The least active cities are Dickerson, Boyds, Pooleville, and Bethesda.  Silver Spring, MD has the highest number of new foreclosures, with about 33 percent of the county’s … (0 comments)

Selling a Leased Home - 05/01/12 07:29 AM
Listing a leased property for sale poses several unique issues, all of which stem from the fact that the home is tenant occupied.  While the ideal situation will always be to show a vacant property, the fact is that just isn’t possible sometimes.  This is where having a good relationship with your tenant becomes a big bonus.
If you are selling a home in Silver Spring, MD that is currently occupied by a tenant, communicate your intentions as early as possible to the tenant.  While having them wait out their lease might sound appealing from a monetary perspective, it will prove … (2 comments)

 
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Emcee M. Arah, CDPE, CIAS, REMAX ~Sil Spr, MD~ EMA Real Estate Group

Silver Spring, MD

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Remax Excellence Sil Spr, MD, VA & DC.

Address: 10230 New Hampshire Avenue, Suite 100, Silver Spring, MD, 20903

Office Phone: (800) 666-3705 x 208

Cell Phone: (301) 452-5252

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