The Stats for Feb are showing that the inventory is decreasing and in our offices the short sale transactions are finally settling. 

I listed a home in Montgomery Village--- not short sale or foreclosure and it had a full price contract within a day.  

Montgomery Village is a Kettler Brothers community with 3 lakes, 7pools, 7 tennis courts, bike trails and wonderful accessibility to transportation.  This community even has summer sunday band concerts.  It was founded so that families would have lots of green space and children can walk to school, soccer practice, etc.  There are some great opportunities to purchase in this wonderful community.  

As I prepare to show homes in this affordable community, I am finding that many are going under contract by the time I am ready to show.  Spring market is upon us.

Looking to put your investment money to work??  Maryland, Virginia & DC are prime investment areas.  Housing prices have dropped by $100,000 and the selection is outstanding.  Due to the foreclosures, many families need to rent.  Now is the time to find!!  This is an opportunity of a life time.  Contact me to assist you or your clients.  www.homesbyfrancie.com . 

We are reading and hearing how the banks, the car manufactures and credit card companies need financial help.  Maybe the reason for them requesting financial aid from the government is due to the fact that Main Street has no money, and without money who is going to buy.  Why do we not have money???   Maybe because  many jobs were shipped overseas or the banks have taken advantage by giving out loans to people who could not afford the higher interest rates, or the credit card companies increasing their interest rates, or the increase in cost of gas & utlities, thus keeping main street from being able to jump start the ecomony????  So you think handing money to the banks, & car manufactures is going to help Main Street.  They are just lining their pockets like they have been doing. Where is the money to help the merchants, small businesses, &  charities that are going under???

I put forth two ideas to solve this situation:

Folks, to jump start the ecomony we have to buy.  We can not buy because we need to pay our mortgages of which all the low interest rates in the world are not going to help when the banks will only lend the money to people whose mortgages are not upside down.  The one's who need the help are the people whose mortgages are upside down.  Therefore, very few people can take advantage of the lower interest rates.  Second, to borrow money, a self employed person, must show that their income will support the new mortgage---- although they are now  barley paying their high mortgage rate. If they can pay barely pay a high rate, guess what they could pay a much lower rate and still have money left over for purchasing power.  By reducing all the mortgages to 4.5%, think of how much money that would free up to start the ecomony and the number of foreclosures it would stop. 

Another idea was passed on to me to jump start the ecomony which is to give every taxpayer a million dollars.  Yes, a million dollars!!!  The money is to be used to pay off mortgages, or purchase a new home,and to purchase a GM car, to pay off credit debit, and to create businesses.   Banks will have money to loan, the car companies can keep manufacturing (however, they still need to re organize create a better business plan) and the small merchant can stay in business or start new companies to employee many Americans. The money in the hands of the consumer will jump start the ecomony, it will be less than what the government is throwing at the above.  If people do not use the money to jump start the ecomony, then they must pay taxes on it. The only difference is the wealthy won't get a lump sum of money to use at their discreation.  Let the American public spend the money to recover the financial ecomony of this country and the world.  

It is time that we the American Public, the Main Street raise our voices.  This is our money they are giving to the banks, to the car manufactors, to the failing business.  It is the banks that caused our housing prices to deflate due to their greed.   It is time for us to say enough is enough. 

Francie

I was glad to see FHA raise the loan limits but I feel they need to go a step futher and reduce the down payment from 3% to 1.5%.  This will enable first time home buyers in our area to afford the down payment and thus  create more home ownership.   These loans however, must be based on the purchaser's ablity to repay them, based on good credit scores and be a fixed rate loan.  This will reduced the desire of many to purchase more house than they can afford and thus reduce the amount of future foreclosures.

What do you think????

We are seeing our share of foreclosures, however, we also see the market picking up.  What an opportunity for first time buyers, for families looking to move up and for investors.   I am seeing homes in great condition, updated etc. at foreclosure prices but not foreclosures. 

In Bethesda, Maryland, homes are again affordable.  A beautiful, 5 bedroom, 4 full bath home for only $725,000, while in Urbana, Maryland homes less than 5 years old which were purchased at $700,000 selling today for only $500,000.  Jump on the bandwagon, and purchase a home today.  The only time you will know the market has bottomed out is when it is on the way up.

In Montgomery Village, I sold in January a 4 bedroom, 3 full bath garage townhome in mint condition at $299,000 in 10 days.  We have a darling 2 master suite garage town-home for only $279,500 in the same location. Home prices range from $200,000 to $700,000. Montgomery Village is community designed with lots of green space, a lake with geese/ducks and row boats/sailfishes, 6 pools, tennis courts, bike trails, and close to the Metro.  This community is about 20 miles from DC.  A wonderful place to walk your dog.

Another area is the Kentlands, this was designed to represent a 19th century town, including alleys.  Walk to shopping, to "Whole Foods", restaurants, movie theater and schools.  This community is about 15 years old with home prices beginning around $400,000+. 

Look to my blog on a weekly basis to find out what is happening in the above communities. 

Bunny Land at Butlers Orchard  March 20,21,22,24,29,&30.  www.butlersorchard.com

The Boy Scout Troop 1988 held a food drive in Montgomery Village which brought 115 bags of food to Gaithersburg Help.

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