Well by now I'm sure most of you have heard about the proposed impact fee increase in Anne Arundel county. But for those who have not.......

Anne Arundel County Executive John Leopold has proposed an increase in impact fees. These are fees paid by builders to the county for infrastructure upgrades. The fees are then passed on to the consumer adding to the overall cost of the house. The proposed bill would raise the fees on a typical 4 bedroom home from just over $4,000 to over $26,000, making Anne Arundel County the third most expensive county in the state to build a  home in.

I agree with Mr Leopold that the current fees are too low, having remained unchanged since their inception in 1987; however, I believe this increase is entirely too high!  Homeownership in Anne Arundel County is becoming out of reach for too many working families as it is. This kind of increase in new home prices is just going to push more people further from their dreams of home ownership in AACO!

 

There are many schools of thought on this subject. Some think it is a viable solution to the foreclosure crisis, some call it a band-aid, and others consider it a bunch of political grandstanding. I myself compare it to the BGE fiasco we had here in Maryland recently. Here too the elected officials thought they were doing the right thing by freezing rates. Sure that helped costs at the time, but the rates had to return normal sooner or later, and when they did, it was, and continues to be a disaster to Marylanders pocketbooks.

I don't know, it seems to me nothing good can come of it. You're simply delaying the inevitable. Yes, it will help homeowners in the short run to keep their homes, and don't get me wrong, I'm all for that, but what happens to those homeowners in five years when the rates are readjusted? And how will it affect the real estate market and our economy in the meantime?

This is just my humble opinion. I would love to hear your thoughts!

Jessica

I don't know about you, but I am tired of hearing all the gloom and doom on T.V about the market we're in! This is the market of opportunity! Buyers finally have a choice, well, lots of choices and that's a good thing! Mortgage rates are still favorable and lenders want to get you financed! Sellers don't despair, get yourselves good agents and listen to them. We know what we're talking about. So, yes you may have to make some   concessions or take a lower price, but; whatever you think you are losing in the sale of your old house will be more than made up for in the purchase your new home!!! That's the beauty of this market of opportunity!!