Brannigan's Blog

Hearthstone Village Community Profile

noreply@blogger.com (Tom) — Mon, 28 Dec 2009 21:38:00 +0000

Hearthstone Village - Silver Spring, MD.

Built in 2001 by Beazer Homes, a community of approximately 100 Upscale Townhouse style Condominium units. They include multi-level, 2 Bedroom, 2 Bath, as well as, 3 Bedroom, 2.5 Bath units. All include a 1 car garage. Some units boast Jacuzzi tubs and separate showers. Some of the larger units include vaulted ceilings on the top level. A strong and involved home owners association helps make this community a wonderful choice for suburban living with easy access to all that the Washington Metro area has to offer.

One of the newest communities developed prior to the Wheaton Redevelopment Project, the community is on University Blvd just blocks from the Wheaton Metro and close to all the restaurants, shopping and recreation activities offered in the Wheaton area. Just a few miles north of downtown Silver Spring, Wheaton, is perfectly situated in the center of three major thoroughfares, and less than 2 miles north of the Capital Beltway. And with the added convenience and accessibility of Metrorail (Red Line) and Metrobus, Wheaton is the ideal location for more Redevelopment Projects.

To learn more about the Wheaton Redevelopment projects under construction or completed in the last few years, visit The Wheaton Redevelopment Project.

Other treasures of the Wheaton area include:

The Wheaton Library is situated at the corner of Georgia Ave and Arcola. The library offers a full range of library services, that includes a variety of programs for children ages 0 to 13, teen and adult programs, public computers, a language lab, a mini art gallery and a staff eager to serve the many users that visit the library daily. A popular attraction for adults and children is the vibrant aquarium teeming with fish and water plants. The present building was constructed in 1962 and was remodeled in 1985.The Wheaton Library is situated at the corner of Georgia Ave and Arcola. The library offers a full range of library services, that includes a variety of programs for children ages 0 to 13, teen and adult programs, public computers, a language lab, a mini art gallery and a staff eager to serve the many users that visit the library daily. A popular attraction for adults and children is the vibrant aquarium teeming with fish and water plants. The present building was constructed in 1962 and was remodeled in 1985.

Brookside Gardens is Montgomery County's incomparable, award-winning 50-acre public display garden situated within Wheaton Regional Park. Included in the gardens are several distinct areas; azalea garden, rose garden, children's garden, formal garden, fragrance garden, Japanese style garden and trial garden. The garden also features conservatories filled with changing seasonal displays, educational programs for children and adults, trips, special events, concerts, children’s day, art classes and exhibits, gift shops and special event rental facilities. A horticultural reference library is located in the airy Visitors Center. Admission is free.

Brookside Gardens' mission, as a public garden, is to foster appreciation for the art of gardening and the science of horticulture through plant collections and displays, learning opportunities and special events.

Wheaton Regional Park is nestled in a forested area of Wheaton, Maryland. The park was established in 1960, incorporating several large parcels of land into one of Montgomery County’s finest and largest parks. Visitors can enjoy a variety of recreational and educational opportunities within its 536 acres.
Take a ride on the train, go horseback riding, have a picnic, go fishing, ice skate or play ball.

Home Buyer Tax Credit Extended!

noreply@blogger.com (Tom) — Thu, 05 Nov 2009 21:47:00 +0000

Home Buyer Tax Credit has not only been extended, but it has also been expanded to include current homeowners. The following are features of the new bill:

Deadline for new and improved credit is April 30, 2010, as long as the home is under contract by that date; deal must close within 60 days.

Eligibility and amount of new credit:

$8,000 for first-time home buyers (those who have not owned a home in the last three years).

Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.

Buyers with income exceeding $125,000 for single and $225,000 for married couples are not eligible.

Homes valued at more than $800,000 are also ineligible.

Home Buyer Tax Credit - Extension is Close!!!

noreply@blogger.com (Tom) — Thu, 29 Oct 2009 19:37:00 +0000

A Senate committee reached a compromise to extend the $8,000 tax credit for first-time home buyers, a boost the housing industry expects will help it pull out of its two-year-old downturn.

Lawmakers in Washington also added a $6,500 tax credit for other primary-home purchasers and raised the qualifying income limits to $125,000 for single taxpayers and $225,000 for joint taxpayers, housing-industry sources said.

Under the Senate panel compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 to go to settlement, the sources said. The measure still faces votes in the full Senate and the House.

Townhouse in Montgomery Vilage - Gaithersburg

noreply@blogger.com (Tom) — Thu, 17 Sep 2009 22:28:00 +0000

First Time Buyer Tax Credit - Time is Running Out

noreply@blogger.com (Tom) — Sat, 12 Sep 2009 19:11:00 +0000

&amp;amp;amp;amp;amp;amp;lt;br&amp;amp;amp;amp;amp;amp;gt;Your Browser Does Not Support Frames. Use &amp;amp;amp;amp;amp;amp;lt;a href="http://www.mdrealtor.org/External/FirstTimeCountDown/clockcountdown.html"&amp;amp;amp;amp;amp;amp;gt;this link&amp;amp;amp;amp;amp;amp;lt;/a&amp;amp;amp;amp;amp;amp;gt; instead.

If you are in the market, call me now 240-417-6175

http://www.thebrannigangroup.com
http://www.branniganhomes.com

Hearthstone Village Townhouse style condo Close to Metro

noreply@blogger.com (Tom) — Sun, 06 Sep 2009 18:33:00 +0000

$8,000 TAX CREDIT FOR FIRST-TIME BUYERS

noreply@blogger.com (Tom) — Thu, 19 Feb 2009 20:33:00 +0000

First-time home buyers will get a tax credit windfall if they buy before December 2009. As part of the economic stimulus bill, first-time home buyers can claim a credit worth $8,000 (or 10% of the homes value, whichever is less) on their 2008 or 2009 taxes.

This credit is refundable, meaning that tax filers see a refund of the full $8,000 even if their total tax bill was less than that amount. Unlike the earlier version of the tax credit which really was a loan, this tax credit does not have to be paid back if the buyers live in the home for at least 3 years.

To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers must be first-time home buyers, meaning they cannot have owned a home in the past three years.

There also are income restrictions. To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. Higher income buyers may receive a partial credit up to a certain amount of income.

Taxpayers who already have completed their 2008 returns can file amended returns for 2008 in order to claim the credit.

Stimulus Bill

noreply@blogger.com (Tom) — Mon, 16 Feb 2009 19:05:00 +0000

The current stimulus bill that will be signed by the President tomorrow allows for a Tax Credit of $8,000 for first time home buyers. This is a pure credit! If you have been considering buying a home, now is the time to act. Prices are down, interests rates are at historic lows. This is truly a great time to buy a home.

New Montgomery County Recordation Tax Law

noreply@blogger.com (Tom) — Wed, 13 Feb 2008 17:49:00 +0000

New Montgomery County Recordation Tax Law
Effective March 1, 2008

Effective March 1, 2008, the recordation taxes for Montgomery County, Maryland will be increased to $10 per $1000 for consideration payable over $500,000.00. Consideration payable of $500,000.00 or less will continue to be taxed at the current rate of $6.90 per $1000.00. The tax calculation will continue to exempt the first $50,000.00 of the sales price from recordation tax if the property is to be owner occupied. The new Act applies to any transaction that occurs on or after March 1, 2008. The new Act, however, does not affect the existing State and Montgomery County transfer taxes. To avoid any confusion in advising or preparing net sheets for your clients, we are providing the following examples as to how the new Montgomery County recordation tax will be applied.

Consideration (i.e. Sales Price) of $600,000.00 for a Principal Residence:
First $50,000 of sales price is exempt from recordation tax
The next $450,000 of sales price is taxed at $6.90/$1000
The remaining $100,000 of sale price is taxed at $10/$1000
Total Recordation Tax: $4,105.00
Total County Transfer Tax (1%): $6,000.00
Total State Transfer Tax (.50%): $3,000.00

Consideration (i.e. Sales Price) of $600,000.00 but will NOT be a Principal Residence:
First $500,000 of sales price is taxed at $6.90/$1000
Next $100,000 of sales price is taxed at $10/$1000
Total Recordation Tax: $4,450.00
Total County Transfer Tax (1%): $6,000.00
Total State Transfer Tax (.50%): $3,000.00

Consideration (i.e. Sales Price) of $375,000.00 for a Principal Residence:
First $50,000 of sales price is exempt from recordation tax
Remaining $325,000 of sales price is taxed at $6.90/$1000
Total Recordation Tax: $2,242.50
Total County Transfer Tax (1%): $3,750.00
Total State Transfer Tax (.50%): $1,875.00

Consideration (i.e. Sales Price) of $375,000.00 but will NOT be a Principal Residence:
Full sales price of $375,000 is taxed at $6.90/$1000
Total Recordation Tax: $2,587.50
Total County Transfer Tax (1%): $3,750.00
Total State Transfer Tax (.50%): $1,875.00

The one state recession........

noreply@blogger.com (Tom) — Wed, 10 Oct 2007 19:02:00 +0000

Last night I started watching the Republican Presidential debate. This debate was focused on the economy and as a real estate agent, I was interested. I turned the debate off after the first question. Both Fred Thompson and Mitt Romney responded to a question about the housing market by stating that the economy overall is in good shape and the housing market/crisis is not as bad as everyone says. In fact, they both stated that relative to the foreclosure crisis and it's affect on the economy, we are seeing a "one state recession". That state being Michigan where foreclosure rates are extremely high.

Here's the reality. Michigan's foreclosure rate of 1 filing for every 320 households ranked the third highest for July 2007. Detroit does rank the highest for metro areas with 1 filing for every 97 households. Nevada is actually the highest in the nation for July 2007 with a filing rate of 1 in every 199 households and Georgia ranked #2 with 1 filing for every 299 households.

Nationwide, foreclosures rates for July 2007 increased 9% from June 2007 and a whopping 93% increase from July 2006. The truth is that for July 2007, the foreclosure rate nationally was 1 filing for every 693 households.

Are they stupid or are they lying? I don't know. But I do know that they are WRONG. The housing market is a national problem. It is affecting consumer confidence and it's only a matter of time before this lack of consumer confidence begins to affect other areas of the economy. Wake up America! The first step to solving a problem is admitting there is a problem!

All of these statistics according to http://www.realtytrac.com/.
To view a list of foreclosures rates nationwide by state please visit: http://www.realtytrac.com/ContentManagement/Library.aspx?ChannelID=9&ItemID=3221

Save Our Constitution

noreply@blogger.com (Tom) — Mon, 24 Sep 2007 01:09:00 +0000

When I started this blog, my intention was to blog about real estate, the business that I'm in. I will continue to blog about real estate, however, from time to time, I will diverge to other areas that I feel strongly about.

Last week, General Petraeus submitted a long awaited report to Congress about the progress of the war in Iraq. After this report, MoveOn.org placed a now infamous ad in the newspaper using a play on words questioning the political nature of the content of this report. Now, this blog is not intended to make any judgement of this ad, nor is it intended to take a political position on the war. This blog posting is intended to remind the American people that we have a Constitution that guides this country. Among other rights that our Constitution grants all Americans is the right to "free speech". This right allows all Americans to speak out about their beliefs and that includes the right to speak out against the Government.

This ad offended some, including George Bush. He spoke out against the ad (his right) and then the Republicans introduced a resolution in Congress condemning MoveOn.org and the ad. Our Congress actually took the time to debate this resolution and vote on it. Our Congress, Republicans and Democrats, actually passed this resolution.

How can the American people just accept this? Agree with MoveOn.org or not, can we at least agree that our Constitution grants them the right to their opinion? How can we not be outraged that our elected officials wasted time in introducing this resolution, wasted time debating this resolution and wasted time voting to pass this resolution. Considering this right to free speech, this resolution is unconstitutional and our Congress, our elected officials, have violated the Constitution that they have taken an oath to defend.

Think about this! Consider what's happening within our Government! Speak out (it's your right as an American). Take back our rights and Save Our Constitution!

What is your house worth?

noreply@blogger.com (Tom) — Tue, 28 Aug 2007 16:41:00 +0000

Frankly, the answer to this question is "what a buyer is willing to pay". I know this sounds blunt and it is, but it is also the truth. Yes, pricing your home near the comparables or below the comparables of the last sale in your neighborhood is the accepted practice in today's market, but ultimately the buyers are in control right now. They see the large inventory of homes available and they know this gives them choices and time to make their decision. That's why homes are staying on the market longer.

What's up with the market? It breaks down to 2 simple words.....Consumer Confidence!

A few years ago housing prices were climbing, people were excited about buying a home and getting in on the American Dream and were confident that their investment would continue to grow their equity. That didn't happen! There is a multitude of reasons this happened. Some say it's just a natural correction, some think sellers got too greedy with the continuing price increases (the desire to get more for their home than their neighbor got). Honestly, I don't think anyone could positively define what caused the slowdown and the price decreases.

However, we are where we are. Housing prices have declined. People have less equity in their homes. If they went in with adjustable mortgages thinking they would refinance later, they can't because their home has decreased in value. The least affect of this is they don't have equity to tap for other purchases. The extreme affect is that if they were counting on the ability to refinance to keep their home affordable, they may be in trouble. This is what is fueling the so called "mortgage meltdown".

Consumer confidence fuels pretty much everything in our economy. Without this confidence, people are less likely to make large purchases or use their credit cards. This starts to trickle down to other segments of the economy and we suffer a real, noticeable decline in spending. If people feel confident that they could fall back on the equity in their homes, they are more likely to spend. This confidence has eroded. The mortgage problems are just the beginning. We are already seeing less confidence in the stock market and we are likely to see more slowdowns in other areas of the economy. Auto purchases are likely to be next and then who knows.

The housing market is a major key element of our economy! It needs to be fixed (or at least stabilized) before we slide much further.

Comments are encouraged and welcome. I strongly believe a dialogue on this subject needs to happen.