Archive for September, 2008
Comfortable Catonsville Town Home in Village Oaks Just $215,000
September 25th, 2008 Categories: Homes in Baltimore County
Up for sale is this wonderful Town Home in Catonsville. Please contact me for a private showing appointment.
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Shortsale and Foreclosure Education in Howard County
September 22nd, 2008 Categories: Maryland Short Sales
I will be in a two day training session starting tomorrow provided by the Certified Distressed Property Institute. After completing my class, and working with a mentor, I will earn my CDPE (Certified Distressed Property Expert) designation.
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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Green Building taken to the EXTREME!
September 9th, 2008 Categories: Maryland Green Homes
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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Even Freddie and Fannie aren’t immune to Foreclosure!
September 9th, 2008 Categories: Perspectives
Well not technically…but they were just bailed out taken over by the Federal Government in what is called a conservatorship. There has been much written about the news that occurred over the weekend and I am certainly not the best to comment on the complexity of the issue.
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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