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Real Estate Water Cooler ~ News You Can Use! - 06/30/10 02:46 PM
Home Prices Rise. Celebration time? Not yet.
Home prices rose 0.8% in April compared with March and were up 3.8% from a year ago, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets. However, prices, are still off 30% from their peak. That good news is tempered by a couple of factors. First, the one-year comparison was against a low-ebb mark. In April 2009, prices were just above a five-year low. Secondly, the improvement came during a time when the federal government was heavily subsidizing home sales through an $8,000 homebuyer's tax credit. That credit is about … (0 comments)
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Lack of Credit Extension Would Dash Hopes of Home Buyers - 06/30/10 11:18 AM
Up to 180,000 home buyers will lose their tax credit through no fault of their own if Congress fails to pass an extension to the home buyer tax credit by June 30 when the closing deadline expires. Included in that number are thousands of home buyers in every state of the union, from 390 in Wyoming to 17,700 in California, according to estimates by the National Association of Realtors®. "We are strongly urging the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these home buyers," said NAR President Vicki Cox … (1 comments)
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The Short-Run vs. the Long-Term Picture - 06/27/10 03:36 PM
Never did we see a more important dichotomy in the releases on the state of real estate in the past week. First, Standard and Poor's released a report that stated it will take three years to clear the shadow inventory from the markets, though this number will vary widely based upon location. Three years of shadow inventory indicates that the real estate market will continue to be a drag upon the economy for the next few years. Second, an article was released by CNN/Money that indicates we are heading towards a long-term housing shortage (See Real Estate News Section For … (1 comments)
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Custom All Brick Ausherman Home On 2+ Clear Acres ~This Is A MUST SEE! - 06/27/10 03:23 PM
http://slideshow.mris.com/slideshow.cfm?ListingKey=90183437460
Find Your Ideal Home With Our Free MLS Search Engine! Germantown Clarksburg Darnestown & More! This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for! We Can Put You On Our Automated MLS Search Which Will E-Mail You When Properties Matching Your Criteria Enter The System On Day Zero On The Market! No Cost Or Obligation! Never Miss Out On That Pertect Property Again! Click Here For Free MLS Access... HomesByRobandJeannie.comRob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ … (2 comments)
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Waiting Doesn't Make Cents - 06/26/10 09:53 AM
Historically low-interest rates and attractive home prices have combined to make the current housing market one of the most affordable in decades. While patience can sometimes be a virtue, for those who think a home purchase is in their near future, waiting just doesn't make cents.
Figures from the National Association of Realtors shows the favorable gains that recent first-time buyers have enjoyed in housing affordability. The average sale price of a typical starter home dropped nearly 24 percent from 2007 to 2010. That equates to a savings of $40,000 on the purchase of a home.
The same report shows … (1 comments)
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Deck Improvements - 06/18/10 07:35 PM
A deck done the right way can make you feel like you are on vacation at your very own home. Fortunately, it is relatively inexpensive to upgrade an existing deck, and any money spent on improvements is money well-spent. According to Remodeling magazine's most recent Cost vs. Value report, a wood deck project returns an average of nearly 82 percent of the investment.
Some low-cost additions and features include:
• Planters: Add color and excitement to your outdoor living area by installing planters. Go all out with built-in versions made of the same material as your deck and use them as … (1 comments)
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Weekly Interest Rate Overview - 06/18/10 01:40 PM
The Markets. Rates continued their downward trend last week after a one-week pause. Freddie Mac announced that for the week ending June 10, 30-year fixed rates averaged 4.72%, down from 4.79% the previous week. The average for 15-year fixed fell to 4.17%. Adjustables were also down with the average for one-year adjustables falling to 3.91% and five-year adjustables decreasing to 3.92%. A year ago 30-year fixed rates were at 5.59%. "Following a relatively weak employment report, bond yields fell this week and rates on home loans followed," said Frank Nothaft, Freddie Mac vice president and chief economist. "Private Payrolls rose … (0 comments)
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Real Estate Water Cooler ~ News You Can Use! - 06/18/10 01:23 PM
It's prime time for house hunters. Nearly anyone with a decent job and a good credit score can afford to buy in their home towns. More than 72% of American families making the nation's median income of $63,800 a year could afford to buy a home during the first three months of 2010, according to a report from the National Association of Home Builders and Wells Fargo. The national median home price for the quarter was $175,000. "Homeownership continues its more than year-long trend of remaining within reach of more households than it has for almost two decades," said NAHB … (0 comments)
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Local Listings Update - 06/17/10 10:08 AM
Find Your Ideal Home With Our Free MLS Search Engine! Germantown Clarksburg Darnestown & More! This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for! We Can Put You On Our Automated MLS Search Which Will E-Mail You When Properties Matching Your Criteria Enter The System On Day Zero On The Market! No Cost Or Obligation! Never Miss Out On That Pertect Property Again! Click Here For Free MLS Access... HomesByRobandJeannie.comRob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 … (0 comments)
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The Vacation Rental Market - 06/16/10 12:35 AM
The vacation rental market has improved this year compared to 2009. "Some companies have reported advanced bookings have increased as much as 60 percent to 80 percent over last season," said Alex Risser, president of the Vacation Rental Managers Association, which manages 150,000 vacation rentals. Increasing demand doesn't mean that potential renters are willing to settle for less than ideal properties. "It's still a tenant market in rentals," says Theresa Smith, director of vacation rentals for Kinlin Grover GMAC's Vacation Rentals on Cape Cod.
Find Your Ideal Home With Our Free MLS Search Engine! Germantown Clarksburg Darnestown Kentlands & More! … (1 comments)
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Real Estate Water Cooler ~ News You Can Use! - 06/15/10 09:46 AM
Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do. Rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 home loan, would have saved a bundle by waiting until May. At April's average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a payment of $1,561.82. The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May … (2 comments)
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Economic Commentary - 06/15/10 09:41 AM
Want to take the pressure off a crisis? The fastest method is to find another crisis. Well, the tensions between North and South Korea have escalated to the point that the market swings last week were accompanied by commentary on how important the strong Asian economies are, with less focus upon Europe. Growth in Asia has been an important factor in helping our country and the world begin our economic recovery. Even the rebound experienced on Thursday was fueled by comments from China. Again, we would like to point out that it is actually good news that the markets … (0 comments)
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Tax Credit & Members Of The Military - 06/15/10 09:35 AM
Members of the military or some federal institutions who served overseas between Dec. 31, 2008, and May 1, 2010, have another year to take advantage of the home buyer tax credits. Eligible taxpayers who are in the armed forces or who are members of foreign-service or intelligence organizations can earn home buyer tax credits if they enter into a binding contract to buy a principle residence before April 30, 2011 and close on that contract by June 30, 2011. The tax credit applies to any individual (and, if married, the individual's spouse) who served on qualified official extended duty … (0 comments)
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Preventing Moisture Problems - 06/13/10 09:27 AM
With the humidity of the summer months upon us, it's a good time to consider the best ways to protect your home from moisture. Excessive amounts of moisture inside a home could lead to mold, which can cause health problems and may be difficult to remove.
Take a few minutes to review the following tips to help protect your home from moisture this summer:
Keep your thermostat at 78 degrees, the optimal setting to maximize energy efficiency and to control moisture. If you set it higher, the air conditioner won't run often enough to dehumidify your air. If you set … (1 comments)
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OPEN SUNDAY!! June 13th, 1:PM to 4:PM ~ Fabulous Single Family Home!!! ~ 19816 MAYCREST WAY, GERMANTOWN, MD 20876 - 06/13/10 09:16 AM
http://slideshow.mris.com/slideshow.cfm?ListingKey=90178596133
Elegant brick front colonial w/ 4 spacious bedrooms and 3 1/2 baths sits perfectly on a quiet cul-de-sac. Unique two story foyer invites you into cozy sitting room and separate formal dining area. Kitchen w/ gleaming granite countertops opens into breakfast area w/ bay window. Family room boasts soaring cathedral ceilings leading out to deck w/ stunning views. New roof,carpet,AC, and landscaping!!...
Click the following URL to see the 19816 MAYCREST WAY listing:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1938324MJEL&p=DE-113973023-576
Find Your Ideal Home With Our Free MLS Search Engine! Germantown Clarksburg Darnestown & More! This is the way to … (1 comments)
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Real Estate Water Cooler ~ News You Can Use! - 06/12/10 09:28 AM
House prices climbed 6.8% in May 2010 from last year, the largest yearly increase since July 2006, according to a report from real estate data provider Clear Capital. In June 2009, Clear Capital reported a 19.3% drop in May house prices, a "far cry" from the increase shown in this report a year later, said Alex Villacorta, senior statistician at Clear Capital. The rolling quarter-over-quarter number, which measures house prices against those three months ago, showed a 1.8% decline, an improvement from the 5% drop in April. "We continue to see sustained price growth throughout much of the country with … (0 comments)
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Don't Trip Up a Home Sale: Keeping Visitors Safe - 06/10/10 09:32 AM
When taking a listing or preparing for an Open House, view the home with an eye toward safety. This can help you locate any areas that may pose a risk when touring prospective buyers through the home, and will allow you to make repair recommendations to the seller. Tripping hazards such as loose boards, rugs and step-downs can not only harm a buyer or colleague, but can also ruin the prospect of a home sale.
Once you inspect the home and identify any potential hazards, it is important to either fix the problems, or make guests aware of them. Here … (0 comments)
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Keeping Cool In The Summer Months - 06/05/10 04:23 PM
With the official start of summer just around the corner, DTE Energy is offering the following tips to help customers save money and keep cool:Around the house--Close blinds, shades and curtains to keep summer heat out.-- Keep the fireplace damper and doors tightly closed to prevent cooled air from escaping.-- Run the dishwasher in the cooler part of the day when the lower temperature can better offset the heat and humidity the appliance will produce.Air conditioning-- Set the air conditioner thermostat at the highest comfortable setting. When leaving home for more than five hours, raise the thermostat five to 10 degrees. … (1 comments)
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Top 10 Myths About Buying a Foreclosure - 06/04/10 09:56 PM
Top 10 Myths About Buying a Foreclosure
1. Foreclosures need a huge amount of work. 92 percent of consumers expressed that if they bought a foreclosure, they would be willing to make home improvements after they closed the deal, with 65 percent being willing to invest 20 percent or less of the purchase price. Although stories of foreclosures missing plumbing and every electrical fixture are very memorable, many foreclosed homes need only the (relatively inexpensive) cosmetics that many new homeowners want to customize no matter what kind of home they're buying: paint, carpet, etc.
3. Buying a foreclosure is risky. … (4 comments)
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Maintaining Gutters - 06/04/10 08:18 PM
With warm weather here, it's the ideal time to make sure your gutters are in tip-top shape, especially if you are thinking of selling or have your home on the market. A well-maintained home creates a better first impression, so it is important to repair any gutter problems before they lead to a squandered opportunity.
Here are a few tips to get you started:
Ensure gutters are free of leaves, sticks and other debris. Do it yourself by clearing the muck and then flushing the gutters with water to make sure it drains properly, or hire a professional gutter cleaner.If you … (1 comments)
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Beware Of Craigslist Rental Scams! - 06/02/10 09:07 PM
The Legal Hotline has been receiving many calls recently alerting us to possible scams involving real estate in general, and distressed properties in particular. Here are a few examples to provide some guidance on how best to deal with them.
Craigslist has slowly but surely replaced the newspaper as one of consumers' main sources to find a home or apartment to rent. This increased activity, along with the ease and low cost of using Craigslist, has also spawned significant and sophisticated scams. These (in the Craigslist Housing section) are usually easy to spot, but one must be vigilant.
On one hand, … (2 comments)
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Weekly Interest Rate Overview - 06/02/10 08:07 AM
Wow! Rates were down again to the lowest levels of the year for the third consecutive week. Freddie Mac announced that for the week ending May 27, 30-year fixed rates averaged 4.78%, down from 4.84% the previous week. The average for 15-year fixed fell to 4.21%. Adjustables were mixed with the average for one-year adjustables falling to 3.95% and five-year adjustables increasing to 3.95%. A year ago 30-year fixed rates were at 4.91%. "These low rates will help to elevate home-buyer affordability and soften the effects of the sunset of the home-buyer tax credit," said Frank Nothaft, Freddie Mac … (3 comments)
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Stewardess!! There's A HOME BUYER ON THE WING!!! - 06/01/10 10:47 PM
William Shatner has nothing on us. We are inundated with first time home buyers who are seeking to become home owners even after the expiration of the tax credit. Why? Because interest rates are at record lows and home prices are becoming within reach for those looking to get into their first home. In addition several REO properties are becoming more friendly to the first time buyers. Fannie Mae and Freddie Mac are beginning to ready REO properties to pass any FHA or VA issues which may hinder appraisals to go through on those properties with minimal repair issues.
Still … (1 comments)
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6 New Hurdles For Home Financing - 06/01/10 04:32 PM
If you've been in the market for a mortgage recently, you've no doubt noticed how difficult it can be to get approved. You're not imagining it, and it's not just you. Paul McFadden, a loan officer with The Legacy Group in Bellevue, Washington, says,"These days, the number of mortgage applications that get approved is probably three out of 10. In the heyday, it was nine out of 10. Normally five or six out of 10 would be the ratio."Underwriting standards have tightened, meaning that borrowers need higher credit scores, more income and higher down payments. And that's not all. There are … (3 comments)
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Rob & Jeannie Steward
Clarksburg,
MD
More about me…
RE/MAX Realty Centre
Address: 23315 Frederick Road, Clarksburg, MD, 20871
Office Phone: (301) 591-3920
Cell Phone: (301) 213-7351
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