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Up for sale is this wonderful Town Home in Catonsville. Please contact me for a private showing appointment.

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I came into this business to help people and I want to continue to do so. My goal is to learn as much as possible about Short Sales so that I can help the residents of Howard County and the surrounding area when they face the unfortunate realty of a pending foreclosure.

Howard County Maryland is know for it’s high median income, low unemployment, desirable schools, and vast recreational and cultural offerings.

Even still, we have seen a dramatic increase in inventory, a decrease in the number of homes sold, as well as a decrease in average prices.

And yes, there has been an increase in foreclosures in Howard County.

Sure, the U.S. Government plans on a huge Bailout, but let’s face it. That is just going to help the investors holding the defaulted loans. The home sellers need the real help.

In our industry we call it  a “Distressed Sale” or “Distressed Property.”

It’s a situation where the seller can no longer pay their mortgage or may have stopped payments some time ago. In many of the situations the market value of the home is LESS than the principle balance of the loan.These are real people in real trouble. If you are experiencing this you are not alone. You have options.

In you or someone you know is facing these troubles they need an agent that:

• Has the compassion and understanding to help you, without judging your situation.
• Understands the process, especially working with the bank
• Can get your property sold quickly
• Offer you choices to prevent a devastating foreclosure and the effects on your credit

It’s not an easy task, and it requires more knowledge, harder work, and a person willing to roll up their sleeves and get to work for good people.

If you are in this situation make sure you speak to an agent that has experience with Short Sales.

I will blog about what I learn so please check back often. And if you or someone you know needs help, please give me a call. I promise to work hard to protect and serve their real estate needs.

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A few weeks ago while previewing real estate I came across this home.

I did a double take and then a u turn.

Luckily I had my camera with me…

Certainly this brings new meaning to Green Building!

I am opting for solar panels and renewable materials.

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Instead, I offer below some sources with varying opinions related to Freddie Mac and Fannie Mae, including how it may effect the housing market.

(I throw in some cheap comments seen in italics)

First, if you need to study up, learn all about Freddie Mac and Fannie Mae.

Here,the president of  The National Association of Realtors applauds the decision and welcomes the stability the buyout brings and states they are looking forward to working with the administration and the congress.What’s there to celebrate? Certainly a drastic move was needed, but when you have a failing organization taken over by the government do you really expect it to get better? Yes, I know something needed to happen, and happen quick. What can the govt. do for the long run?

Forbes has a good article that talks about the failed model of Freddie Mac and Freddie Mae. They point out that under a conservatorship the Govt is tasked with providing stability but not by changing the model. If it’s a failed model why hold on to it? This article makes some suggestions on what to do with Freddie Mac and Fannie Mae going forward. I always liked Steve Forbes.

One of the noticeable effects has been a rise in perceived consumer confidence and lower borowing rates in this article by CNN Money. The article forgot to mention the cost to the tax payer, and the loss suffered by the shareholders. 

Lastly, this article from Fox Business Blogs caught my attention. The title says it all: Welcome to Housing Nationalization . Need I say more? Yes I do…this means that you, us, the regular folk are now gambling in the housing market even if you have been prudent in your business decisions.

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President Bush today signed into law a bill that’s purpose is to help stabilize the real estate market and offer aid to struggling home owners and the financial institutions that are holding the bad debt. Originally President Bush indicated he would veto the bill because it was socialistic but later decided it was “better than nothing.” Tell me folks, what do you think?

The bill is applauded by The National Association of Realtors, builders, and the banks. It has been reported that over 400,000 homeowners will be able to take advantage of better financing terms and options.

Some of the positive results of the new housing economic stimulus bill include:

• A $7500 tax credit for first time home buyers. If that’s you…call me!
• A permanent increase conforming loan limits from $417K to $625 depending on your market. More news to follow.
• A program for home borrowers to re-finance their existing mortgage with better terms with the FHA. I have read over these terms and see many pitfalls as well. Not everyone will qualify, and if you do there is a price to pay. If you feel you need to consider such relief please let me refer you to a knowledgeable loan officer who understands this program.

Some of the negative aspects of the new housing economic stimulus bill include:

• The end of “down payment assistance” programs such as Nehemia and Genesis. They helped a lot of folks obtain financing for loans but they also had higher foreclosure rates.
• Will cost the government $300Billion so where is that money going to come from? Taxpaying folks who aren’t in foreclosure. So even though you were smart and didn’t get in over your head..you are paying for the debacle.
• The terms of the new FHA loans do have some serious caveats such mortgage insurance, strict guidelines, and re-payment of lost value via fees when you sell your home.
• No real indication if this will be be enough or will be accepted by the current lenders who may participate voluntarily.

I thought I would end this post with a little nugget for those paying attention. First one to post a comment with the artists name who wrote the following wins a $10 gas card:

“Rise so high, yet so far to fall
A plan of dignity and balance for all
Political breakthrough, euphoria’s high
More borrowed money, more borrowed time”

Click below for another hint if you need one!

(more…)

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Friends, if you know of someone looking for a town home in Columbia and can afford $269,900 please contact me to learn more about this value priced home in Howard County.
This home is located in the Owen Brown Community and close to employment, commuting routes, shopping, recreation, and public transportation. Walking distance to Lake Elkhorn and the Cradlerock Schools.

With 4 full bedrooms, 3.5 bathrooms, a remodeled and upgraded kitchen, and new flooring throughout the home this home stands out among it’s competition.

As they say, a picture is worth a thousand words so if you are interested view away!

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