ShareThisArchive for General
Who is a First-Time Home Buyer?
“First-time home buyer” is defined by the Cranston-Gonzalez National Affordable Housing Act of 1990. The code specifies: The term “first-time home buyer” means an individual and his or her spouse who have not owned a home during the 3- year period prior to purchase of a home with assistance under subchapter II of this chapter, […]
Happy New Year!!!
I believe 2009, will be a fantastic year for buyers. Interest rates will remain low, housing inventory is high, prices have fallen, and sellers will contribute towards buyers closing costs. What more can a buyer ask for? Grant programs are available for Baltimore City and Baltimore County first-time home buyers, call or email me for […]
Yes, I work Personally With Clients!
Last week I had more than one person who wanted me to be their real estate agent ask me do I work personally with clients or do I refer them to one of my agents. Some people think that because I am an owner of two RE/MAX franchises I don’t work personally with clients. My […]
My Clients are Still Getting Mortgage Loans in Spite of the Economy!
Last week I received several calls from buyers wanting to know if my clients were still getting mortgage loans and my answer to them was “yes.” FHA financing is the best way to go for most first-time home buyers. FHA requires that a buyer put 3% of their own funds into the transaction and the […]
What Not to Overlook at Your Final Walk-through!
I am truly amazed that some agents do not have their clients do a walk-through before settlement. How do I know this is happening, because an agent who sold one of my listings did not take his client back to the property before we went to settlement. I asked him was he going to do […]
What Is A 1031 Exchange?
Created by the I.R.S. in 1990, section 1031 of the Internal Revenue Code allows taxpayers, with the aid of a Qualified Intermediary, to sell investment or income property solely for the purchase of other “like-kind” property within 180 days and to defer the capital gains taxes normally associated with such a sale. In essence, the […]
Banks Are Creating A Sellers Market For Their Short Sale Properties
In some parts of Maryland banks are creating a sellers market for their short sale properties by lowering the price well below what the seller originally paid for the property. This creates competition and a sellers market for that particular property. I have witness properties that were originally purchased for $486,000 being sold by the bank for […]
Some Short Sales Can Take 60-120 Days To Be Approved And Settled!
A lot of buyers are really getting frustrated with how long it takes to get approved and settled on a property listed as a “short sale.” Before I show a client a property that says “short sale” I call the listing agent to see if the property has already been approved for a short sale. If not, […]
Maryland’s Education System Ranks Among Nation’s Best!
I received the following information from Nancy S. Grasmick the State Superintendent of Schools for the Maryland State Department of Education. Ms. Grasmick stated the following. “Education Week, the nation’s leading education newspaper, recently published its 2008 “Quality Counts” report- the Consumer Reports of education. For the first time in the 12-year history of this […]
