So how do you decide - Experience… Credentials… Price… Tech-friendly… or all of the above?  After all, your choice of agent should be the first decision you make when you buy or sell a home because you will rely upon him or her to advise you at each step in the process.

Here’s another one of my recent videos, and it’s about this very topic:

For “all of the above” just give me a call.  You’re bound to have questions about the home-buying or selling process, today’s market conditions, the use of technology in real estate, and other concerns.  That’s why I’m here… to answer your questions and help you find success in your real estate goals.

RELATED LINK:
Experience or Technology – How’s a Consumer to Decide? – Mentoring advice for rookie real estate agents.

COMING MONDAY:
Crofton Real Estate Update – June 2009

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The Maryland Department of Natural Resources has developed a list of several things we can do to help.  There’s nothing new here, but most of us can benefit from a gentle reminder from time to time:

Recycle – You can recycle cans, bottles, and paper without sorting it in Anne Arundel County – it couldn’t be any easier for you! 

Use less water – Take shorter showers, turn off the water while brushing your teeth, run the dishwasher and clothes washer only when they’re full.

Drive less – Combine errands into one trip, use public transportation, carpool, tele-commute from home instead of driving to your office.

Conserve energy – Install a programmable thermostat, use low-energy light bulbs, turn off lights or appliances when not in use.

Use recycled paper – Look for products made with recycled paper.

To find out what Maryland officials are doing to help Save the Bay, visit BayStat.   Created in 2007, this program cuts across State agencies such as the University of Maryland and the Departments of Agriculture, Environment, Natural Resources and Planning to assess the Bay, predict future threats, and help scientists.

Saving the Chesapeake Bay isn’t a Democratic or Republican thing… it’s a responsibility for all Marylanders.  We can help by making simple changes in our lifestyle like those mentioned above, or by choosing Energy-Star appliances for our homes.

If living on the Chesapeake Bay is something you’d like to explore, please click on one or more of the links below to view waterfront homes:

• Watefront Homes Under $1,000,000
• Waterfront Homes 1–3,000,000
• Waterfront Homes Over $3,000,000
• Waterfront Condos and Townhomes

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With GPS and Mapquest, who needs a map to get around in the Greater Crofton area?

If your answer is “I do!”, you’re in luck because I just happen to have a box of Crofton area maps in my office.  Simply ask, and you shall receive.  I also have a limited number of full-color maps for the area between Baltimore and Washington - very helpful for anyone relocating to the area.

Since you’re reading this online, the easiest way to get your map is probably to click on Contact Margaret Woda and type your request into the message box.  If you prefer, just call me at 301–346–2923.  I can either leave a map at the reception desk at Long & Foster for you to pick up or mail it to you, whichever you prefer. 

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BOWIE BAYSOX STADIUM
Friday, July 3 
Fireworks Immediately following the 6:15 p.m. game against the Akron Aeros

FIREWORKS CRUISE
Friday, July 3, 7:30 - 10:30 p.m.
($40 Adults / $20 Children 3-11 / 2 & under free. Reservations Required).
410-268-7601 X111

ALLEN POND, Bowie
Saturday, July 4, 3-10:30 p.m.
Entertainment, food and fireworks

PACA HOUSE & GARDEN, Annapolis
Saturday, July 4, 9:30 – 10:00 a.m. Naturalization Ceremony
10:00 a.m. – 2:00 p.m. Open House
William Paca House and Garden, 186 Prince George Street, Annapolis

ANNAPOLIS HISTORIC DISTRICT
Saturday, July 4
Parade 6 p.m.  Concert by the USNA Band followed by Fireworks over the harbor 9:15 p.m.

QUIET WATERS PARK, Edgewater
Saturday, July 4, 6:00 p.m.
Summer Concert Series
(Big Daddy Stallings, playing the Blues - Seating is on the lawn, so bring a blanket, lawn chairs and pack a picnic)

FIREWORKS CRUISE
Saturday, July 4, 7:30 - 10:30 p.m.
($45 Adults / $25 Children 3-11 / 2 & under free. Reservations Required.
410-286-7601 X111)

FORT GEORGE G. MEADE
Saturday, July 4, 12 Noon-10:00 p.m.
Open to the public
Gate/Midway opens at Noon
Fireworks 9:30 p.m.

UNIVERSITY OF MARYLAND, College Park
Saturday, July 4,
Food and Music in Parking Lot 1 off Campus Drive beginning at 7 p.m. and Fireworks at 9 p.m.

BALTIMORE INNER HARBOUR
Saturday, July 4
Special events throughout the day. Fireworks at 9:30 p.m.

WASHINGTON, D.C.
Saturday, July 4
Parade begins at 11:45 a.m. (Constitution Avenue and 7th to 17th St.)
Events throughout the day at the National Mall
Fireworks 9:15 p.m.

LONDON TOWN, Edgewater
Sunday, July 5, 12:00 — 4:00 p.m.
Historic London Town and Gardens, 839 Londontown Rd., Edgewater
(Admission:  $10/adult, $9/senior, $5/youth, Free/6 and under)

ANNAPOLIS
July 5 and Sundays ’til October, Noon-5 p.m.
First block of West Street from Church Circle to Calvert Street

IMAGE:  Washington Monument photo by Mike Lynaugh
Video images – istockphoto.com

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You won’t find anything reported in The Washington Post about this, but there are some changes taking place in their own Circulation Department.  This Post re-organization could impact you if you’re a home-delivery subscriber in the Greater Crofton area, including part of Bowie.

Bob Steed, one of Crofton’s long-time independent distributors for The Washington Post will be delivering his last newspapers to the area on Sunday, July 05.  His departure will be a huge blow to Post customers and carriers alike.  Our family has been both since Day One of his 21–year run, and I promise you Bob Steed is The Best!

As a home-delivery customer, you probably ordered your morning paper by contacting The Washington Post directly.  From that point on, it magically appeared in the general vicinity of your front door or driveway 365 days a year, including holidays, weekends, blizzards, and even days when your carrier was ill or out of town.  The man guaranteeing that for many residents of Crofton for more than two decades has been Bob Steed.

While you were sleeping, he got up in the middle of the night and picked up thousands of newspapers from The Washington Post and loaded them on his truck.  Then he distributed them to carriers through the area who, in turn, delivered them to you before you left for work. 

If you wanted your paper earlier than normal delivery hours, Bob made sure you got an “early-bird” paper.  If you were ill or handicapped and couldn’t walk to your driveway to pick up your Post, he made sure it was delivered wherever you specified.  He took your calls personally when your paper was missing or wet and did whatever was necessary to correct the situation to your satisfaction.  I can’t imagine any newspaper distributor being more conscientious about customer satisfaction.

Unlike some other Post distributors, he always passed your tips through to his carriers.  When carriers went on vacation or were ill, he delivered their routes as well as his own.  He’s been a supportive and respectful supervisor who somehow retains carriers and drivers for years (and decades), in spite of the many sacrifices and hardships that are a fact of life for this job, this lifestyle.

We will certainly miss him, both as Post customers and as carriers in the “E” section since 1982.  

Bob Steed will be a tough act to follow for anyone who succeeds him! 

After July 05, if you have any complaints about your newspaper delivery or want to request vacation stops/starts, you should contact the Service Desk at the re-organized Circulation Department online or call them at 

800–477–4679

Post customer service hours are limited – 6 a.m. to 6 p.m. Monday-Friday and 7 a.m. to noon on weekends and holidays - unlike Bob Steed, who was accessible to customers 24/7.

P.S.  Since the new distributor hasn’t yet contacted current carriers in the Crofton area, it’s possible -maybe even likely – that your carrier could change in the near future without notice.   If your paper isn’t where you expect it some morning soon, that may be the reason.

Any use of Focus On Crofton content without permission of the author is a violation of federal copyright laws

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If ever there was a zipcode that really needs these statistics broken down by neighborhood, and perhaps over a period of months, 21054 is it. 

Let’s take a look at this chart for Gambrills real estate last month and May of preceding years:

Probably the most telling figures, then, are the number of new listings compared to how many new contracts were written and the number of homes sold/settled.  As long as the inventory of homes keeps growing (new listings) at a faster pace than homes are selling and settling, Economics 101 will always come into play, i.e. “supply and demand” -

Looking only at May 2009, just three homes went under contract out of 86 on the market.  In other words, 96.5% of homes on the market did NOT sell.  It would take over 28 months to sell the Gambrills inventory at this rate, assuming no additional listings go on the market during that time.  Even back in ‘06, in the so-called “bubble” market, the absorption rate in Gambrills was over seven months while it was closer to five in Odenton, three in Crofton, and even less in some other communities.

Three Gambrills homes went under contract and four sold/settled in May 2009, in spite of all this doom and gloom – that makes for seven happy home sellers.  They not only beat the odds, they sold at more than 90% of list price.  This is a much higher percentage than other areas, so there is some good news for the month.

Related Links:

• Crofton Real Estate Update – May 2009
• Odenton Real Estate Update – May 2009
• Homes for Sale in Gambrills, MD

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While you were waiting for interest rates to bottom out, gambling that they would go even lower than rates were a few weeks ago to re-finance or buy a home, they started back up.  In the flyer dated 6/26/09 that I received today from one local lender, the current rates are:

• 5.25% for Conventional 30–year Fixed Rate financing
• 5.375% for VA and FHA financing
• 6% for Jumbo financing

According to MarketWatch, the average rate on a national level is slightly higher:  5.47% for Conventional 30–year Fixed Rate financing.  5/1–year arms are priced at 4.87% – not much of a break, considering the risk of a higher rate at the time of each future adjustment (but this is a good loan for someone who doesn’t expect to stay in a property more than 5 years).

You can follow the interest rate trends right here at Focus On Crofton any time by clicking on Mortgage Interest Rates in the left navigation bar.  That takes you straight to MarketWatch 101 where you will see the interest rate for this week, last week, and last month as well as an arrow up or down to indicate the current trend.

But, just because you missed the bottom, rates are still lower than they’ve been in recent years.  You can get a loan in the 5’s now, so don’t wait ‘til rates are back up to 6% or more. 

I have terrible memories of selling real estate (or not) when interest rates were
16% and 17% in the Carter years… could it happen again?

Thinking of buying a home? 

Nobody can predict when home prices will hit bottom.  In fact, we won’t know what the bottom is until it disappears and prices show signs of increasing.  Even if prices drop a little more, any savings in your payment has probably been swallowed up by the higher interest rate.  So don’t get caught twice with your pants down.  You missed the best interest rate… don’t risk an increase in housing prices too!

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There is certain to be a home that fits your budget and taste in the Greater Crofton Area including Annapolis, Bowie, Crofton, Crownsville, Davidsonville, Gambrills, Millersville, Odenton or another nearby area.  But this blog is called Focus on CROFTON, so let me show you seven reasons to choose a neighborhood in this community for your next home:

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Hopefully we won’t be reading or writing any more posts like the one I wrote in March 2008 titled Tenants Faced with Foreclosure - Lives Turned Upside Down - at least not for properties in Crofton, Maryland.  This is an update inspired by that post.

New legislation went into effect last month in Maryland requiring a series of notices to all occupants of residential properties at various stages of the foreclosure process.

Don’t get me wrong… it will still be very disturbing to families when they find out the home they lease is being foreclosed upon - but at least they can be certain of having some advance notice to explore their options.

Disclaimer:  Before I continue, let me remind you that I am a REALTOR, not an attorney, and this should NOT be considered legal advice. It is an update to the unfortunate situation described in my earlier post, now that the Maryland Legislature has passed emergency legislation to help protect tenants in the event of foreclosure to the property they occupy.

Now tenants don’t have to worry about anyone showing up at their door to say they just purchased the property at a foreclosure auction and the tenants are O-U-T.  As of May 19, 2009, any person authorized to make a sale in any foreclosure action in Maryland must provide written notices to “ALL OCCUPANTS” at three steps during the foreclosure process:

• Notice must contain specific wording and information prescribed by law (outlined below)
• Notice must be in a separate document
• Notice must be in 12-point type
• Notice must be sent by first-class mail
• Notice regarding content must be on outside of the envelope, on the address side, in 12-point type, in specific wording prescribed by law.

This is the result of emergency legislation known as §7-105.9 of the Real Property Article, Annotated Code of Maryland.  The entire bill can be found online at http://mlis.state.md.us/.

HERE’S WHAT TO EXPECT IF THE HOME YOU LEASE AND OCCUPY IS FORECLOSED UPON:

First notice, titled “IMPORTANT NOTICE”, at the time foreclosure action is filed, shall include the following information:

1.  Foreclosure action has been filed against the property (Including name and address of Circuit Court); 
2.  Foreclosure sale of the property may occur after 45 days from the date of the notice;
3.  Occupants may want to consult an attorney;
4.  Occupants may be evicted;
5.  Name and contact information of the person authorized to sell the property;
6.  Phone number (877-775-0357) for assistance;
7.  Website (www.mdhope.org) for information.

Notice on envelope shall read “IMPORTANT NOTICE TO ALL OCCUPANTS: FORECLOSURE INFORMATION ENCLOSED. OPEN IMMEDIATELY”.

Second Notice, titled “NOTICE OF IMPENDING FORECLOSURE SALE”, not earlier than 30 days nor later than 10 days before the foreclosure sale:

1.  Foreclosure action has been filed against the property (Including name and address of Circuit Court);
2.  Details of foreclosure sale, including date, time and place;
3.  Occupants may be evicted;
4.  Name and contact information of the person authorized to sell the property;
5.  Phone number (877-775-0357) for assistance;
6.  Website (www.mdhope.org) for information.

Notice on envelope shall read “IMPORTANT NOTICE TO ALL OCCUPANTS: FORECLOSURE INFORMATION ENCLOSED. OPEN IMMEDIATELY”.

Third Notice, titled “IMPORTANT EVICTION NOTICE”, after judgment awarding possession and before any attempt to execute the Writ of Possession:

1.  Judgment awarding possession has been issued (Including name and address of Circuit Court);
2.  Date of eviction;
3.  Name, address, and telephone number of purchaser or purchaser’s agent;
4.  You may contact this person or review file in office of the Clerk of the Circuit Court;
5.  You may consult an attorney to determine your rights;
6.  Phone number (877-775-0357) for assistance;
7.  Website (www.mdhope.org) for information.

Notice on envelope shall read “IMPORTANT NOTICE TO ALL OCCUPANTS: EVICTION INFORMATION ENCLOSED. OPEN IMMEDIATELY”.

NO NOTICE IS REQUIRED in the event foreclosure sale is postponed.  Additionally, neither the landlord nor the property manager are required to notify you if/when the mortgage or deed of trust is in default (unless your lease specifies otherwise), so the first notice you receive may be the one described in this post.  Frustrating as that may be for you, it is better for you now than it was for tenants faced with foreclosure in the past.  If in doubt, read Faced with Foreclosure - Lives Turned Upside Down. 

What are you going to do?  The tenants in my original post didn’t want to disrupt their children any more than necessary, so they looked for another rental in the same school district.  Of course, renting again is an option but maybe - just maybe - buying might be a good option for you, perhaps even a purchase at foreclosure of the home you now lease and occupy.

If that idea appeals to you, the first step would be to contact a mortgage lender to find out if you qualify for a loan adequate to purchase the property.  If so, contact the person named in the notice you receive or attend the foreclosure auction to make a bid (armed with financing in hand).  If you need any real estate advice, feel free to contact me, or contact a real estate attorney for legal advice.

The Protecting Tenants at Foreclosure Act of 2009 is a new Federal law, intended to protect and notify tenants faced with foreclosure, also went into effect in May.  However, no government agency is currently charged with implenting or enforcing this law.

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