The Frederick real estate market was picking up in April. Here is a snapshot of real estate sales in Frederick County:

What’s Notable:   Sales Are Up, Prices are Stable, Inventory is LOW.

• The inventory is at 940 homes on the market.  29% fewer homes on the marketthan last year at this time, and the supply not increasing much month over month. We wonder if the low inventory and higher demand will contribute to higher prices? What impact will distressed sales have?“Highest Annual Gain in Median Sale Price in DC Metro Since January 2006″  These are the headlines in our emails from MRIS this month. This is based on Aprils Pending Home Sales Index.The DC metro area saw median year-over-year gains of 11.2% We’ve got high demand with low inventory, and traditional listings, those not involving a short sale or foreclosure, represented the highest percentage of closed sales since the foreclosure wave was at its peak.  I’m going to go a little more to the cautionary end of this prognostication for two reasons:

  1. This is for the entire metro area. Frederick County is a different market than Rockville or Bethesda. We still have a large supply of distressed sales that are acting like an anchor on the market. And how do they actually do that?

  2. Appraisals are affected by comparable homes, and any given neighborhood in Frederick County has it’s share of short sales. These are affecting appraisals and will be for a little while longer. Even though we’re seeing multiple offers on the some of the really great listings, the buyer may win out by going over list price, but when the appraisal comes in lower than that offer, adjustments will have to be made.

• Of the 212 homes sold, 44 or 21% of homes sold were Short Sales, 18 or 8% were foreclosures. 1/3 of sales were distressed properties, still a large influence on prices.
• Only 4% of sales last month were cash deals. The normal amount has historically been 7 – 9%. The number has been high for the entire year, up to 15 to 20%.

With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

Fannie Mae Released the findings of the April 2012 National Housing Survey recently, which shows Consumer’s moving in a more positive direction. Some of the positives:

• Higher confidence in the direction of the economy: 37%, ↑
• More have seen an increase in their personal income: 33%, ↑
• On average, Americans expect home prices to increase by 1.3% over the next 12 months, ↑
• 75% say it is a good time to buy a home,
• 49% expect home rental prices to go up, with an average expected increase of 3.6%
• 65% say they would buy their next home if the were going to move
• Americans’ concern about losing their job in the next 12 months has stabilized since the late fall, with 76% saying they’re not concerned, compared to 70% in November 2011.

Fannie Mae has the most detailed survey of its kind, interviewing 1,003 Americans by telephone with over 100 questions used to track attitudinal shifts. The results are compared to the previous month, surveys have been conducted since June 2010.

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

For all the pet lovers who also love their homes, there is a new design trend you will love: Built-ins for your dog’s bed. Architects are coming up with some creative and tasteful plans to incorporate the furry child’s bed into the cabinetry of the mud room or kitchen.

traditional laundry room design by minneapolis kitchen and bath The Woodshop of Avon

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

Today’s rates are hovering just below 4%… again. When we say the words “historically low interest rates” that’s exactly what we mean. The average national mortgage rate since rates have been documented, is 8%. 4% is ridiculous! If you haven’t refinanced yet, it’s a great time for a Streamline Refinance.

Consider this graph of historic interest rates just to get an idea:

Refinancing from a 5% or 6% rate can save you hundreds on your monthly payment. Consider the following chart showing the difference on a $200,000 home, with a 2003 interest rate of 5.84%:

Contact us for our list of preferred lenders.

With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

A VA home loan is truly one of the best benefits available to U.S. Veterans today. And a much deserved thank you for serving us and protecting our freedoms. There are many features of  VA mortgage loans that are worth mentioning:

• There is a ZERO downpayment requirement, by far, one of the best features. This allows Veteran buyers to keep more cash in their pockets.
• The sellers are allowed to contribute as much as 6% towards the closing costs of the home purchase. This is the most allowed of any loan product. Again, helping buyers who are low on cash.
• Buyers can have a choice of fixed-rate or adjustable rate mortgage.
• The VA loan limit is currently $719,000, giving buyers in high-value areas more choices.
• There is no private mortgage insurance required, which shaves a significant amount off of the monthly payment.
• A VA mortgage loan is assumable.

Assumable Mortgage

We don’t hear much news about assumptions when the rates are low, but we do when they  have increased after a time of low mortgage rates. When rates increase, as they are apt to do  when the economy starts to recover, the lower rates of an assumable mortgage will be very attractive to buyers. In 5 to 7 years, a Veteran homeowner who has purchased at today’s rates of 3.8% and puts his house on the market, will be at a great advantage. A future qualified buyer can assume that mortgage in a market where rates could feasibly be 5%, 6% or even higher.

With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.

Search for Homes	What’s My Home Worth?
The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

The Frederick real estate market was picking up in March . Here is a snapshot of real estate sales in Frederick County:

What’s Notable:   Sales Are Up, Prices are Stable, Inventory is LOW.

• Short Sales are 15% of the present inventory, and Foreclosures make up 2%.

• The inventory is at 850 homes on the market.  29% fewer homes on the market than last year at this time, and the supply is staying the same month over month. We wonder if the low inventory and higher demand will contribute to higher prices? What impact will appraisals have on that dynamic? We’ll see it play out.
• The number of pending sales has increased this month over last month, foretelling a busy spring market.
• 16% of sales last month were cash deals. The normal amount has historically been 7 – 9%. This number represents a lot of investor purchases, which have been high for the entire year.

We’re seeing multiple offers on listings that are in great condition and well-priced. If you are in the market and you see a house you want, don’t hesitate, pull the trigger! It won’t be there next week. (But if you miss it, there will be more)

With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.

Search for Homes	What’s My Home Worth?
The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

There is a good reason to start redecorating projects in the bathroom — it’s small.  Whatever updates are considered will cost less, and if a look isn’t quite right, there will be time and money left over for a do-over or two.

For example, painting the walls is inexpensive and will provide an immediate change in the look and style of a room. Faux techniques can be tried, and if they don’t work, can be repainted the next day. Soft shades of purple, pink, lime green and turquoise are trendy paint colors this year, but grey can serve as a neutral, allowing for bright-colored accents. (Bathroom-formula paint should always be used to help prevent mold and mildew).

When a homeowner isn’t ready to replace the bathroom floor, there is the next best option to consider… divert attention upwards. To get the look of old fashioned tin ceilings, there are several ceiling tile wallpapers available which are paintable. This textured wallpaper gives the impression of embossed plaster and will keep visitors looking up. Another option is a ceiling-sized stencil, some paint and crown molding, to create a one-of-a-kind ceiling space.

Staying at ceiling level, a space-saving addition to consider is a narrow shelf over the doorway, just wide enough to hold extra rolls of toilet paper. A 6″ deep shelf can be supported directly on the door frame, held in place by a small bracket. This small shelf can also be used to house decorative items that take up too much space on the vanity.

Even with a new ceiling, the bathroom floor can’t hide forever. Wood floors are a popular option in most homes today, but homeowners shy away from wood floors in a wet environment such as a bath. Today, it’s possible to have both the warm look of wood and the durability of vinyl. Vinyl planks are available from most home supply stores and come with textured finishes that simulate real wood. Finishes include oak, maple, bamboo and other exotic woods. Cost can range from $1 to $4 per sq. ft., and the small size of the room makes it possible to lay a new floor in a day or two.

If the bathroom floor is vinyl, but one that is looking tired and worn out, a coat of paint and five to six applications of polyurethane can give a floor a whole new look. To do the job, the floor needs to be primed first with a specialty primer. It can then be painted using a stencil to mimic a tile pattern or to create a border. One decorator has experimented with using brown paper bags to create the look of leather or stone on a bathroom floor. She suggests tearing off irregular pieces of bag, gluing them to the floor and topping with four to six coats of polyurethane.

Even a change as small as replacing hardware can give a bathroom a much needed lift. Toilet handles, cabinet handles, and door hardware and towel racks can all shine brightly and give the bathroom some sparkle.

You can even change the hardware and trim on a shower stall from gold to a trendier color, and without removing doors or other shower hardware. It can be done using 220-grit sandpaper, steel wool and elbow grease, for starters. Once the hardware has been thoroughly scraped, spray-on automobile primer needs to be applied. Metallic spray paint in black or another color goes on last. The technique can even be applied to shower fixtures. One caveat – lay in an adequate supply of painter’s masking tape.

Simple things like a new toilet seat and a pedestal sink are relatively easy and inexpensive fixes. Along the same line, a new or refinished bathroom mirror will add focal interest, reflect light and won’t flush the budget down the drain.

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Thanks to our favorite home inspector, David Goldberg, for an excellent guest article.

David Goldberg -  Home Inspector

phone: 301-913-9213
fax:  301-774-4554
Reliable Home Services, Inc.
PO Box 5159
Laytonsville, MD 20882
ASHI Member #101584
MD License #29322

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If You have a remodeling project in mind, contact us for a list of professionals we’re proud to recommend.

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

Moving With Your Pet

Moving to a new home can be very exciting for the family! Sometimes, though, it’s very stressful on the furry members of the family. Here are some tips to remember:

• When possible, it’s a good idea to leave the dog with a friend they know during the actual move. This will keep them out of your way and away from possible accidents.
• The other option is to crate your dog while moving the furniture. Make sure the crate is large enough for them to stand up, turn around and lay down comfortably. The best way to keep your pet safe is to keep them out of the way.
• Packing over a longer period of time, rather than a day or two, can be less stressful on your dog. Dogs, especially don’t like change. If the change is gradual, they won’t be affected as drastically.
• Make sure that you pack their items, bed, food and water dish, toys, etc. in a separate, easy-to-find box.
  

  Moving with Pets

• One easy trick is to make sure that they have belongings that smell like you, their people! Having a familiar scent in a strange place can make the transition easier. All you would need to do is put their toys in your laundry hamper for a few days, and they will smell just like you!!

Introducing your dog to your new home

Moving into your new home is often a stressful for a pet, however there are a lot of things that we can do to make this transition easier on them, which in the end makes it easier on us!

• Your dog may not know where to “go” in a new home. When you bring them to your new place, take them immediately to the designated place so they can “do their business”. Be sure to reward them with praise.
• For puppies, be sure to let them out as often as possible the first few days.
• Keep in mind that a puppy can “hold it” for about 1 hour for every month they are old. Be sure to give them time for this during the move as well as after the move.

For other great tips on housetraining your pet, please visit The American Society for the Prevention of Cruelty to Animals or The Humane Society of the United States.

Some great links for advice on moving with your pet include:
Pets Welcome – a great website for finding pet friendly hotels, for those long distance moves
Air Animal (pet movers) – for the really, really long distance moves
Atlas World Group — great advice for moving tips

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

Property Tax Savings for Maryland Homeowners

The State of Maryland has had a property tax credit program since 1975, designed to help low-income, or fixed-income homeowners afford their home property taxes. When it was first enacted, it was known as the “circuit breaker” plan for elderly homeowners, but is available to all homeowners regardless of age, because credits are based on income.

The formula used is based the amount of income and the property tax amount, with a graduated percentage of the amount paid.

There are 4 requirements:

• You must own the home, have a legal interest
• The home must be your principal residence
• Your net worth (minus the property’s value) must be less than $200,000
• Income cannot exceed $60,000

The property tax credit is not automatically applied, you must apply no later than September 1 every year.You can use the back of the tax assessment form you get in the mail, or

Download the 2012 Homeowners Tax Credit Application or Email the Taxcredits Division to request an application.

See details of the Maryland Homeowner’s Property Tax Credit on the Md State website.

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The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119

The Frederick real estate market was picking up in February . Here is a snapshot of real estate sales in Frederick County:

What’s Notable:   Sales Are Up, Prices are Stable, Inventory is LOW.

• Short sales are still the story.  Of the 166 home sales, 45 were short sales, 27%, and 17 were foreclosures, or 10%.
• Short sales are 16% of the present inventory, and Foreclosures make up 3%.
• The inventory is at 850 homes on the market.  28% fewer homes on the market than last year at this time, and the supply keeps decreasing month over month.
• The number of pending sales has increased this month over last month, foretelling a busy spring market.
• 23% of sales last month were cash deals. The normal amount has historically been 7 – 9%. This number represents a lot of investor purchases, which have been high for the entire year.

Anecdotally, we’re seeing multiple offers on listings. If you are in the market and you see a house you want, don’t hesitate, pull the trigger. It won’t be there next week. Just sayin’.

With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.

Search for Homes	What’s My Home Worth?
The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119