How to Sell your Silver Spring, MD Home - 07/31/12 11:25 AM
Homes in Silver Spring, MD have been seeing multiple offers since the fourth quarter of last year.  While this has been common for quite some time in the distressed market, its recent popularity in the traditional market leads many real estate experts to believe that the worst of the market is behind us.
In addition to bidding wars, home values have also been increasing steadily.  This increase could be the result of suppressed inventory, investors’ buying frenzies, historically low mortgage rates, historically high home affordability, or a little bit of everything.  Either way, 2012 is proving to be a great time … (1 comments)

Reasons to Invest in Real Estate in Silver Spring, MD - 07/30/12 03:18 PM
There are many great reasons to invest in real estate in Silver Spring, MD.  Silver Spring is close to the nation’s capitol, which offers a variety of entertainment, dining, shopping, and employment options.  This region has also maintained good stability and relatively strong home values when compared to the rest of the nation.  And due to the constant influx of people relocating to Silver Spring, MD, rental rates have been consistently appreciating
One could justifiably argue that there has never been a better time to invest in Silver Spring, MD real estate.  And whether financing a property or paying cash, the … (3 comments)

Summer Events - Montgomery County, MD - 07/27/12 08:27 AM
Enjoy a movie under the stars, a live music concert, a children’s play, or an outdoor festival with your family this weekend.  Scroll down to see the complete list of some great summer events in Silver Spring, MD that everyone can enjoy:
 
Bethesda Outdoor Movies
When:  July 27 – 28
Where:  Bethesda Urban Partnership – Woodmont Triangle at Norfolk and Auburn Avenues, Bethesda, MD 20814
What:  Admission is FREE and show times will begin at 9pm.  July 27- Crazy, Stupid Love; Saturday, July 28- Hugo
 
The Lion, The Witch, and The Wardrobe
When:  July 27 – August 13
Where:  … (0 comments)

Help for Distressed Silver Spring, MD Homeowners – Starting Over - 07/26/12 11:16 AM

While home values are beginning to work their way up, there are still many homeowners with negative equity in their Silver Spring, MD homes.  Fortunately, there are several ways individuals can start fresh during these rough economic times.
Short Sale A short sale happens when the loan servicer accepts less for the home than what is owed.  The first “Great Recession” short-sale took place in 2006, and became increasingly popular in recent years.  This is an involved process that requires expert negotiations with the bank, so make sure you work with a Silver Spring, MD Realtor who is also a CDPE – Certified … (0 comments)

Tips to Sell your Home in Montgomery County, MD - 07/24/12 11:59 AM
If you haven’t heard already, the current housing market is desperate for inventory.  The result is an increase in home prices, providing a great window of opportunity for home owners who have equity in their home.  Buyers are eager to take advantage of historically low mortgage rates, and still see tremendous value in buying a home in today’s market.
However, selling a home in any market is work.  There are strategic steps that home owners can take with their Montgomery County Realtor to ensure that their property is sold quickly, for maximum profit.
1.        Pricing
No matter how great your home … (0 comments)

Short Sales in Silver Spring, MD offer Bigger Discounts - 07/23/12 10:40 AM
Short sales have always offered a lower discount than foreclosures.  This logic behind this was based on the condition of the home.  Generally speaking, short sales were kept in better condition than foreclosures because the home owners still occupied and maintained the property while working with the bank towards a foreclosure alternative.  Foreclosures, however, were often left in poor condition by former homeowners, being stripped of anything valuable and left neglected for months.
 In about 2009, discounts for foreclosures were about 30 percent for foreclosures and short sales were about 20 percent.  As short sales became more common in 2010, the … (0 comments)

Summer Events in Montgomery County, MD - 07/20/12 02:36 PM
Summer Concert Series, Music Festivals, Performances, and much more are happening this weekend.  Scroll down to see a list of some great summer events in Silver Spring, MD that the entire family can enjoy together.
 
Soul of Summer featuring Jonathan Butler, Warren Hill and Maysa
When:  July 20
Where:  Strathmore at 5301 Tuckerman Lane, North Bethesda, MD 20852
What:  Born and raised in Baltimore, soul singer extraordinaire, Maysa, has a passionate following in her hometown.  South African guitarist and singer, Jonathan Butler, exploded onto the American music scene in 1987 after opening for Whitney Houston. Since then, he has gone … (0 comments)

Fewer Homes Underwater in 2012 - 07/19/12 05:45 PM
CoreLogic recently reported that the number of Silver Spring homes underwater has decreased.  Since the fourth quarter of last year, the percentage of negative equity homes has gone from 25.2 percent to 23.7 percent.  This equates to almost 1 million homes.
“In the first quarter of 2012, rebounding home prices, a healthier balance of real estate supply and demand, and a slowing share of distressed sales activity helped to reduce the negative equity share,” said Mark Fleming, chief economist for CoreLogic. “This is a meaningful improvement that is driven by quickly improving outlooks in some of the hardest hit markets. While … (1 comments)

Inexpensive Kitchen Renovation Tips - 07/17/12 10:29 AM
Renovating the kitchen in your Silver Spring, MD home can be a costly expense, especially when piled on top of other expenses incurred during the home selling process.  Fortunately, there are ways to upgrade without compromising on quality and appearance.
1.       Reuse
Before you fill the dumpster, take a moment to assess the materials you already have in place and see what can be reused or recycled.  Architect Talia Braude says she takes a long, hard look before starting any renovation project to see what can be salvaged.  For example, when Braude found floor joists that were too damaged to be … (1 comments)

How to Find Problems with a Home’s Foundation - 07/16/12 01:38 PM

 
 
The words, “foundation repair” can sound terrifying to new real estate investors and homebuyers in general, but it doesn’t have to be.  While dealing with a foundation issue is certainly not fun, it can be addressed and repaired without meeting all of the stigma criteria.
For starters, let’s look at some clues to detecting problems with a Silver Spring home’s foundation:
Driveway and Sidewalk Cracks This may not be as clear cut as you think – while cracks can be indication of a problem, the problem is usually with the soil underneath the foundation.  Simply put: when the … (0 comments)

Things to Do in Silver Spring Montgomery County MD - 07/13/12 03:06 PM
Just posted the "Things to Do" blog. Head over there to keep up to date on events happening in and around Silver Spring and Montgomery County MD. Many activities start tonight, so don't wait!
When you are ready to buy a home or sell a home in Silver Spring, contact Emcee Arah of the EMA Real Estate Group online or by calling 301.452.5252.  Emcee is both a First-Time Home Buyer Expert and an award-winning REMAX Realtor. 
Don’t forget to leave your comments below and on the Facebook page!
… (0 comments)

Independent Foreclosure Review - 07/12/12 10:01 AM

 
Two government agencies, The Office of the Comptroller of the Currency (OCC) and the Federal Reserve, have initiated an independent foreclosure review for borrowers who lost their homes between 2009 and 2010 from certain loan servicers.  Upon review of the application, a Silver Spring homeowner could qualify for up to $125,000 as settlement compensation.  This review is separate from the $26 billion “
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If you are a struggling homeowner in Silver Spring, MD who is seeking foreclosure alternatives and would like to learn more about possible solutions, contact Emcee Arah online or call 301.452.5252.  As a real … (0 comments)

July Checklist for Silver Spring, MD Homes - 07/10/12 07:37 AM
Now that summer is here, homeowners are seriously thinking about selling their Silver Spring, MD homes.  Whether you plan to sell or not, here’s a valuable list of “to-do’s” that will keep your home in top shape.
Begin your home inspection and repair process by conducting an energy audit.  Evaluate places in your home that are susceptible to air leaks and energy loss.  Insulate your hot water pipes to save yourself money during the summer.  You can do this by snapping on foam jackets –pre-slit, hollow-core, flexible foam pipe insulation (called “sleeves”) - purchased at a hardware store.  Chalk any gaps … (1 comments)

Real Estate Investors for REO-to-Rental Pilot Program Selected - 07/09/12 09:09 AM

In February 2012, the Federal Housing Finance Agency (FHFA) began implementing a pilot program that would offer REO’s to investors in bulk.  This program was called the REO-to-Rental Pilot Initiative and offered about 2,500 real estate-owned properties for sale.  The investors would not be your typical investors, but large real estate entities that could afford to purchase and manage an extensive portfolio of distressed homes.
This program was strategically launched in markets with a high inventory of REO’s, and a high demand for rental units.  Investors who were interested in bidding on these bulk properties were required to submit an application.  … (0 comments)

Family Events in Montgomery County, MD - 07/06/12 08:09 AM
Now that summer is in full effect, you might be looking for events in Silver Spring, MD that the children can enjoy.  If so, you’ve come to the right place.
 
Dance Exchange Summer Institute
When:  July 6 – 16
Where:  Dance Exchange at 7117 Maple Avenue, Takoma Park, MD 20912
What:  During this ten-day program, participants will engage with the DC community through a performance during the Capital Fringe Festival.  Scholarship applications now available! 
 
Goldilocks!
When:  July 6 – July 16
Where:  the Puppet Co. at 7300 MacArthur Blvd., Glen Echo, MD 20812
What:  This tongue-in-cheek retelling of the … (0 comments)

National and Local Foreclosure Activity Decreasing - 07/05/12 07:02 AM

Foreclosures and short sales in Silver Spring, MD are still quite common, but not like they used to be.  According to the most recent market report released by CoreLogic, May showed a decrease in foreclosure activity relative to 12 months ago on a national level.
“Although the level of completed foreclosures remains high, it is down 27 percent from a peak of 1.1 million in all of 2010,” said Mark Fleming, chief economist for CoreLogic.
In May, the national foreclosure inventory total was at 1.4 million homes.  This figure accounts for 3.4 percent of all homes.  Last year in May, … (0 comments)

The Recovery “Staircase” - 07/03/12 09:52 AM
In economics, we learned to associate the movement of the economy with an inverted bell curve.  This curve started with profitability (ie. the 2005 housing market) and then sloped downward into a recession, bottoming out a depression, sloping back up into recovery…and so on.  This u-shaped recovery seems good enough in theory, however, the Great Recession has proven to be far less smooth.
One of the major components affecting recovery is the relation between negative equity and low inventory.   According to Realtor.com, the total amount of active inventory in the US (consisting of single family homes, condos, townhomes and co-ops) in … (5 comments)

Plenty of Renters in Silver Spring, MD - 07/02/12 09:16 AM

The rental market in Silver Spring, MD is booming and showing no sign of slowing down.  Despite increasing rents, landlords and property managers say that they are having no problems finding tenants.  However, they do agree that it is still as critical as ever to find reliable tenants. 
In June, 2012, the credit bureau, TransUnion, conducted a survey of 1,248 property managers – 1,107 who managed small properties consisting of less than 200 units, and 141 who managed larger properties consisting of 200 or more units.  48 percent of the small property managers surveyed said that they had raised rents … (0 comments)

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

Silver Spring, MD

More about me…

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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