first time home buyer: Maryland Real Estate Buyer Agent - 06/06/11 06:13 AM
You've chosen the best Maryland real estate agent. Can you rely on their loyalty?You might be surprised by the answer!
You may not be aware that your Maryland real estate agent, unless they specifically discloseotherwise, represent the seller in any transaction for the saleof a home. It is that Maryland real estate Agent's fiduciary duty (where their loyaltylies) to protect the seller's position at all times.
Choosing a Maryland Buyer's Agent, however allows that Agent with whomyou are working to be your representative and to put your interestsabove all others.
Work with the Best Maryland Real Estate Agent
Here are a … (0 comments)

first time home buyer: Maryland Real Estate - Making a Bid - 05/26/11 11:08 PM
Once you've found a house you like, you must decide how much to offer. In putting together your actual offer, consider the followingseven factors:
The advertised price of the Laurel Maryland Real Estate listing - Treat this as only a rough estimate of what the seller would like to receive, and recognize that different sellers price houses very differently. Some Maryland Real Estate sellers deliberately overprice, others ask for pretty close to what they hope to get and a few (often the cleverest) underprice their houses in the hope that potential buyers will compete and overbid.
Laurel Maryland Real Estate You … (4 comments)

first time home buyer: Maryland Real Estate FAQ - 04/26/11 02:02 AM
Maryland Real Estate FAQ
Why should I use a real estate agent to help me buy myhome?Where do I start looking for a home?How do I find the right agent?
What to look for in Maryland Real Estate Listings:
How do I find out how much I can afford?How does buying compare to renting?What should I look for in a new neighborhood?Where can I get reports on local schools?How can I find out what homes are selling for in a certain area?How can I find out what my tax bill will be?If I'm relocating, is there any way I can view … (0 comments)

first time home buyer: First Step In Buying Maryland Real Estate - 04/14/11 12:21 AM
First Step of Investing in Maryland Real Estate
When considering purchasing your first home, whether you get that mortgage or not, may depend on a network of credit reporting agencies that either share information with, or are owned by, three major credit bureaus. This report is what lenders use to issue Maryland real estate mortgages or other loans.
It's a good idea to check your credit report to know where you stand before you get too far in the home buying process, that way you can be aware of problems before they jump up and derail your plans.
Copy Your Credit … (0 comments)

first time home buyer: Maryland Real Estate - Time To Own - 04/06/11 12:14 AM
10. You're ready to stop paying your landlord's mortgage payment, and essentiallyfinancing his retirement.
9. You really need the tax deductions associated with property taxes andmortgage interest.
8. You want to have a vested interest in your Maryland Real Estate community.
7. You can no longer tolerate waiting a week, in the middle of summer,for your landlord to send a repair person to fix your air conditioningunit.
6. You are working at a job where you aren't required to relocate out ofthe country every three years.
5. You want to provide your family with a sense of stability and plantroots.
4. … (3 comments)

first time home buyer: Buying A Condo In Maryland - 01/15/11 01:49 AM
Kevin Kelly, a lender in Phoenix AZ, wrote a great blog post about things to watch out for when purchasing a condo.  You can see that blog right here.
Though Kevin works in Arizona, the points in his article are very relevant for buyers of Maryland condos.
His three main points:
Occupany Rate.   Fiftyone percent of the units must be owner occupied. Delinquency Rate.   In Maryland, no more than ten percent of the owners may be behind on their condo fees. Litigation.  If the condo community is currently involved in some sort of litigation, this could impact loan availability. If you … (1 comments)

first time home buyer: Home Warranties - 08/01/10 02:27 PM
Many people who buy Maryland real estate consider the purchase of a home warranty a prudent move.

Home warranties bring peace of mind to the buyer.  In most cases, if someone buys a home with a warranty on it, the warranty usual covers many repairs in a home.  Lets say you buy  a home and purchase a home warranty on it.  Three months after you buy the home, your AC stops working.  You call the warranty company, they send someone out to your house, you pay a $100 deductible and the warranty covers the rest of the repair.  The duration of … (4 comments)

first time home buyer: Is Bowie Maryland Leading The Local Recovery Of the Housing Maket? - 06/19/10 02:53 PM
I believe the incredible tumbling of prices has slowed down.  I think home values are still going down, but not at the fast pace of a couple of years ago.  Two to three years ago, if I pulled up ten homes in a certain price range in a certain area, eight of those homes would be a distress sale. . What made this worse, these homes were priced at a price range that most first time home buyers could afford
Today, only two out of those ten homes would be a distress sale.  Frist time home buyers now have choices other than mold infested … (1 comments)

first time home buyer: Prince Georges County Home Sales - 10/12/09 05:45 AM
 
The above chart is a comparison of home sales this September with September of 2008 in Prince Georges County Maryland.  Laurel Md real estate is located in Prince Georges County.
As you can see, the trend of falling prices in Prince Georges home values continue.  Both the Average Sold Price of $225,976 and the Median Sold Price of $212,925, have fallen about 20 percent from last September.  This has been the trend for most of 2009. 
Also consistent with the trend of 2009 is the increase in the number of homes sold in Prince Georges County Maryland.  Home sales in Prince Georges this September increased over … (0 comments)

first time home buyer: Time Running Out On $18,000 Gift To Home Buyers - 08/06/09 01:48 AM
If you are considering buying Laurel Md real estate, you better hurry.
The government's $8000 tax credit for first time home buyers is set to end at the end of November.  In addition, the $10,00 grant for first time home buyers is running out of money.
Thats $18,000 of FREE money you could miss out on if you don't buy a home soon!
If you have a $300,000 mortgage, $18,000 would pay for your first nine months in the house.  Throw in your interest deduction and you are practically living in the home for FREE the first year.
If you are considering buying Maryland … (1 comments)

first time home buyer: Maryland Real Estate Prices Falling - 07/14/09 12:51 AM
Maryland real estate prices in Montgomery and Prince Georges Counties continue to fall.   Every month since January the average sold price and medium sold price has declined significantly.
This price decrease has resulted in more sales this year as compared to last year in Maryland.
First time home buyers have been coming back into the Maryland real estate market for over a year now.  Low interest rates, low prices and numerous government incentives have help to push buyers off the fence.
Some markets in Maryland have seen multiple offers on homes.  I have worked with a buyer who has been beaten out … (0 comments)

first time home buyer: Prince Georges County Maryland Housing Market Improves - 04/14/09 02:05 AM
Those of us who own Laurel real estate, got some good news recently.  In Prince Georges County Maryland, more homes sold in April of 2009 than in April 2008.  In fact, it was just over a ten percent increase.
Average sold price was down below $250,000 and so was the medium sold price.  You can get more information on my Laurel real estate blog.
The bottom is in sight.  The market will stabelize and then hopefully increase at normal rates.  I believe this will happen some time in the next six months.
Falling prices, low interest rates and great government incentives … (1 comments)

first time home buyer: Another Sign The Bottom Is Near - 03/24/09 12:50 AM
Home sellers in Laurel Maryland take heart.  The bottom is on the horizon.
I have always told my buyers and sellers that when first time home buyers can afford a decent home on a $50,000 a year salary, that is when the market will have bottomed out. 
An article in the Wall Street Journal has confirmed my theory.  The article stated that existing home sales increased over five percent in February.  The reason for the increase were first time home buyers.
Ok lets review again why now is the bets time to buy.
low interest rates housing inventory shrinking government incentives … (1 comments)

first time home buyer: Federal Government Working On A Four Percent Fixed Rate For Home Buyers - 02/05/09 11:12 PM
Thats right, there is legislation introduced that would make a four percent fixed rate mortgage available for home buyers.  This makes the idea of buying Laurel Maryland real estate much more affordable.
With all the incentives out there now is the best time to buy a home in Maryland. 
First, you have the affordable home prices.  Second, you have the low interest rates.  You currently have a $7500 Tax Credit The Senate just approved an increase in the tax credit to $15000 The possibility of a four percent fixed interest rate The Grant money for you down payment What the heck … (2 comments)

first time home buyer: Senate Approves Tax Credit Increases To $15,000.00 - 02/05/09 04:09 AM
… (5 comments)

first time home buyer: Home Prices Continue To Fall - 01/08/09 11:26 PM
It seemed like just yesterday when someone told me they wanted to buy a three bedroom and two full bath home in the Laurel MD area for $250,000 or less.  I sighed and told the person,
"You ain't gonna get much for that price.....if anything"
Speed up to yesterday.  A lender approves my first time home buyer for $185,000.  My buyer wants to buy a three bedroom, two full bath home.  It has to be a detached home or a townhome, but she need a back yard for her dog.
According to the computer, there are 45 homes that meet this buyers criteria!  … (0 comments)

first time home buyer: When Is The Best Time To Buy Laurel Real Estate? - 01/07/09 11:04 PM
When showing Laurel real estate, I am often asked by buyers when is the best time to buy.  Everyone wants to know, is it better to buy in the Winter or the Spring?
Well, the truth is, both times are a great time to buy.  In the Winter buyers have less competition for the inventory of homes out there.  Sellers tend to be more motivated if they have their home for sale during the Winter months.
However, in the Spring you have more homes on the market.   Buyers have more choices.  But, there are more buyers in the Spring.  Buyers have … (1 comments)

first time home buyer: Over Half The Sales In Laurel MD Were Distress Sales - 12/06/08 01:28 AM
There is a suprising statistic in Laurel real estate.  Almost half the sales in Laurel MD over the last thirty days have been either a foreclosure or a short-sale.  Twenytone homes sold in Laurel MD. Ten of the sales were either a foreclosure or a short-sale.  That is almost fifty percent!
Buyers, in Laurel MD, need to be prepared to buy a distress sale.  Most of the time a foreclosure is a good deal.  Just remember that the price you pay for the property may be its true worth.  By this, I mean you may not be buying a home below the market value.  … (0 comments)

first time home buyer: Important Information For First Time Home Buyers - 11/12/08 11:29 PM
A deadline is fast approaching for first time home buyers of Laurel real estate.  This deadline affects anyone seeking to buy Maryland real estate.
The loan limits for FHA have been announced. Any loans under the temporary limits must close by the end of December.  January 1, 2009 the new loan limits will go in to effect.  Anything over $417,000 will be considered "FHA JUMBO" for pricing.  Don't forget that the down payment is also increasing to 3.5%.
Currently on FHA loans, the buyer only needs to contribute a total of 3.0% towards the purchase of their first home.  If you … (0 comments)

first time home buyer: Something Every Bargain Hunter Needs To Know - 11/08/08 10:51 PM
When shopping for Laurel real estate or any Maryland real estate, there is something every buyer needs to know.  Those great prices you see out there, the ones that are real low......the lowest of the low....are not move-in ready.
Thats right!  A house for sale at $200,000 in a neighborhood that normally sells for $300,000 is probably not going to be in good shape.  You will probably need to put some money into it before you move in.  Sometimes you wont even get the loan because the lender feels the house needs to much work. 
The fantasy of the foreclosure/short-sale immaculate … (0 comments)