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foreclosure: Are appraisals really objective? - 05/05/10 12:24 PM
OK, to all my Realtor friends out there that title may bring a chuckle. Unfortunately the public and most underwriters see appraisal results as set in stone.
I'm writing this post because I'm seeing appraisals come in all across the spectrum of value. Not that we didn't have appraisal issues before but now, the law meant to protect the public is actually hurting them. As a Realtor and a licensee in the state of Maryland I'm required to be familiar with the market area I'm listing and selling in. Although I've heard from appraisers that they are also I'm not finding … (4 comments)

foreclosure: Special program for REO purchases in Frederick County Maryland - 06/10/09 10:21 AM
Thinking of buying in Frederick County? There is a special new program about to come on line to purchase REO properties in Frederick County. The program is funded by the federal Neighborhood Stabilization Program (NSP) in conjunction with the Maryland Department of Housing and Community Development's Neighborhood Conservation Initiative. This program is for bank owned properties in specific targeted areas in Frederick County.
The program gives loans from $15,000 - $25,000. These are 0% interest loans for owner occupied purchases and the loans are forgiven after 15 years. The specifics will be posted on the Frederick County website at www.co.frederick.md.us/nci  Although … (0 comments)

foreclosure: FHA 203K Streamline - Perfect timing for this market - 04/21/09 02:48 PM
Many of the foreclosure and short sale listings I have been showing recently are desperately in need of major cosmetic surgery. I must confess, I haven't done an FHA 203K loan in several years so I was operating under the assumption the rules were still the same. In fact they are, but for the 203K streamline they are much easier to work with. For one thing, you don't need a 203K inspector because the streamline loan is primarily for cosmetic work. I just showed a listing yesterday that needed about 10K in carpet, flooring, paint and drywall repair. This wouldn't normally … (2 comments)

 

Larry Riggs - Your Frederick County Specialist

Frederick, MD

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