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Howard County Maryland Real Estate Talk

Howard County Maryland Real Estate Talk
Blog about the real estate market in and around Howard County Maryland. Written by a top Real Estate team in the sate and their network of induxtry professionals.

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Articles: 1, 2

Articles

Interesting comments from Warren Buffett on the stock market
2008-10-10 19:41:00
I came across this from a colleague and found it interesting. Just as in Real Estate, generally the smart investors do the opposite of the market. They buy when the market is low and sell when it is high. With the stock market showing you its typical volatility we need to revisit our Real Estate investments. Although Real Estate has been tough the last few years, it is still tangible and a necessity. A piece of stock is not necessary. You have to live somewhere. In addition, Real Estate is very slow moving. This historical week shows you how crazy the stock market is. Real estate may drop 10% in 1 year, but the market can drop almost 10% in 1 day!!!!!Do know, I don't have an exact source of this quote. So please don't take this as 100% factual, but it came from a reliable source. The bio info can be found on en.wikipedia.org/wiki/Warren _Buffett face="Arial" size="3">Buffett: Well, the stock market in the short [run]...
More About: Interesting , Stock Market , Market , Warren Buffett

MONEY Magazine ranks Columbia/Ellicott City as 8th BEST PLACE TO LIVE IN TH
2008-07-18 19:32:00
And the praise keeps coming. Add all the great publicity and with BRAC jobs coming thru 2012, this maybe a great time to consider increasing your real estate portfolio in Central Maryland!Click here to read the MONEY Magazine article
More About: Money , Columbia , Live , City

Update on the financial markets.
2008-07-18 19:28:00
It has been a tumultuous week for Wall Street but it seems that calmer heads have prevailed for the last couple of days - let's all hope that trend continues. There has been a lot of negative speculation regarding the financial health of any company associated with the mortgage industry including most banks and industry giants Fannie Mae and Freddie Mac. The failure of IndyMac seems to have been the catalyst for the latest round of fears. The fear that Fannie and Freddie are going to fail is, in my opinion, greatly exaggerated. Unfortunately, once the rumors start, they can start to become a self-fulfilling prophecy when panicked investors start dumping their shares. That is why we have seen such a public effort by the Fed and the Treasury to put in place measures to assist both Fannie and Freddie should they start to see problems raising the capital that they need for their day to day functions. The odds that Fannie or Freddie actually need to resort to any of these measures appea...
More About: Markets , Financial , Update

Forbes ranks Howard County as the 17th best place to raise a family in the
2008-07-06 23:21:00
Just another good reason to buy in Howard County . Howard County has been recognized by both Money Magazine and now Forbes as one of the best places to live. And when there is a good place to live, there is a good place to buy and invest in. http://www.forbes.com/2008/06/27/schools- places-family-forbeslife-cx_zg_0630reales tate_slide_5.html?thisSpeed=15000
More About: Family , Place , Ranks

Central Maryland Homes for Sale
2008-06-25 18:02:00
Photo Address Details Price 4829 Attenborough Way Ellicott City, MD 21043 TourID: 0 Amazing Builder's Model Home backs to WOODS!Bedroom: 4Full Bath: 4Half Bath: 15050 Sq. Ft. $899,000 4816 Attenborough Way Ellicott City, MD 21043 TourID: 0 NEW BRICK FRONT COLONIAL W/ENDLESS FEATURES!Bedroom: 4Full Bath: 4Half Bath: 15899 Sq. Ft. $825,000 9706 Gretchen Lane Ellicott City, MD 21042 TourID: 319274 Amazing Value in Howard CountyBedroom: 5Full Bath: 3Half Bath: 14687 Sq. Ft. $775,000 9922 Wintry Day Place Laurel, MD 20723 TourID: 333337 The largest in Emerson! Over 5,500 finished square feet!Bedroom: 5Full Bath: 3Half Bath: 10 Sq. Ft. $775,000 4570 Doncaster Drive Ellicott City, MD 21043 TourID: 412139 GORGEOUS COLONIAL W/POOL!Bedroom: 5Full Bath: 3Half Bath: 14464 Sq. Ft. $750,000 4808 Attenborough Way Ellicott City, MD 21043 TourID: 0 BRAND NEW LUXURY HOME IN PRIVATE COMMUNITY! Bedroom: 4Full Bath...
More About: For Sale , Sale , Maryland , Homes , Central

Loans in Maryland will NOW require income documentation
2008-06-07 18:28:00
The big news this week is that as of June 1, Maryland Senate Bill 363 went into effect, basically eliminating all lenders from closing any Alt Doc loans (NINA, NO RATIO, STATED Loans ) where income has not been documented to show the borrowers can afford the monthly payments. I believe Maryland is the 4th State (West Virginia, Minnesota, Ohio) to pass this type of law. Other States currently have the same bills out for legislative review and vote. What this means is that any loan closing in Maryland must have income documentation in the loan file - pay stubs, W-2s, 1099s, and/or income tax returns, even in cases where the loan program does not require these documents (as many Fannie Mae and Freddie Mac programs with excellent credit do not). If you have clients that are unable to document income, they will not be able to get financing in Maryland, even if the lender has programs available for them. While the intent of this law is to make sure that buyers are able to afford their ho...
More About: Documentation , Income

5 new rules for home buyers from Money Magazine
2008-06-04 11:39:00
This was an interesting article written in money magazine. There is a lot of good, sound advice. However, keep in mind there are some homes in this market priced well. This is why it is important to use a good Realtor to identify the well priced homes and good deals.-Brian Pakulla5 new rules for home buyers By Amanda Gengler, Money Magazine May 27th, 2008 ARTICLE TOOLS: · &nbs p; &nb sp; &n bsp; Email article · &nbs p; &nb sp; &n bsp; Printable view · &nbs p; &nb sp; &n bsp; IM article · &nbs p; &nb sp; &n bsp; Save to del.icio...
More About: Home Buyers , Home , Rules

End of the down market according to the Wall Street Journal......
2008-05-11 15:45:00
It sounds like some in the press may start writing some positive stories. In order for the market to swing around we'll need the press to start "looking at the glass half full vs half empty". It is amazing how much the press and psychology has to do with buying a home. The Housing Crisis Is Over By Cyril Moulle-Berteaux 6 May 2008 The Wall Street Journal (Copyright (c) 2008, Dow Jones & Company, Inc.) The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now. How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won't happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor. Most ...
More About: Market

Are we at the bottom of the market?
2008-03-24 22:16:00
I have been telling many of my clients that it feels like we maybe at or close to the bottom of the market. Buyers are starting to act again, although buyers are still price sensitive. This means sellers still need to create value and price correctly. This is from the "Dow Jones Tomorrow's News Today" Article dated 3/24/08. This is strong data from the nation. Our local market typically does better than the national market, so time will tell if in fact we are the bottom.Demand rose for used homes during February, the first increase in seven months andan indication sales have hit bottom in the housing slump.Existing-home sales climbed 2.9% to a 5.03 million annual rate, the NationalAssociation of Realtors said Monday. The last time sales increased was July.Buyers took advantage of falling prices. The median home price was $195,900 inFebruary, down 8.2% from $213,500 in February 2007.?We seem to be finding a bottom in home sales even as prices keep falli...
More About: Market , Bottom

Tax Refund Info - 2008
2008-03-21 13:17:00
* Please consult your tax advisor for legal tax advice. * Our federal government is hoping to spur additional economic growth and therefore starting in May, the Treasury will begin sending economic stimulus payments to over 130 million qualified households. To receive a payment, taxpayers must: 1 - have a valid Social Security number 2 - have $3,000 of reported income 3 - file a 2007 federal tax return. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Note: Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment. PAYOUT SCHEDULE Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. People who use direct deposit also will be amon...
More About: Info , 2008

update on mortgage rates
2008-03-21 13:11:00
The Fed's action this week (reducing the Fed Funds rate by 3/4%) has brought some more much needed relief to the American homeowner. Anyone with a HELOC tied to Prime (currently 5.25%) is seeing immediate savings. The mortgage market remains extremely volatile however, with most lenders receiving multiple reprices to their rates each day. The rates that are quoted in the morning are very often different by the afternoon. This is largely due to the continued lack of appetite by the end investors for mortgage related debt. Adjustable Rate Mortgage s are priced worse than 30 year fixed rates in most cases (although ARMs do seem to be one of the decent options in the Jumbo market). With the extreme swings in interest rates daily and even intra-day, it is important that you protect your buyers. Encourage them to work with a lender that you are confident will deliver. Have the client call their lender the day they actually make any offer, even if they spoke to their lender t...
More About: Update , Rates

Your credit score is now going to have a huge impact on your home interest
2008-01-16 01:47:00
As many know, the mortgage industry went through serious turmoil in 2007! Now, the lenders are going to be smarter about how they lend money and at what rate. Your credit score is going to either save you money or cost you. Please see the link below to a great article that explains the credit score and interest rate increase that you may incur. Due to the ever changing mortgage market, it is more important than ever to use a trusted mortgage lender. I highly encourage all our clients to either use a mortgage lender that we know or with whom they've had previous dealings with. This will insure you are receiving good honest advice and rates.If you would like to find out your credit situation, what you may qualify for, or need assistance to clean up your credit to increase your score and receive better rates, contact me today. You can reach me at 410.579.MOVE or at www.123move.net. I have 5-7 high quality lenders who can help you and offer you...
More About: Credit , Interest Rates , Home , Mortgage , Interest

New Application Requirements to Maintain Your Homestead Tax Credit
2008-01-08 16:37:00
* Please consult your Tax advisor for legal tax advice.** IMPORTANT: New application requirements to maintain your homestead tax credit see the red text below. What is the Homestead Credit ? To help homeowners deal with large assessment increases on their principal residence, state law has established the Homestead Property Tax Credit. The Homestead Credit limits the increase in taxable assessments each year to a fixed percentage. Every county and municipality in Maryland is required to limit taxable assessment increases to 10% or less each year.View a listing of homestead caps for each local government. Technically, the Homestead Credit does not limit the market value of the property as determined by the Department of Assessments and Taxation. Instead, it is actually a credit calculated on any assessment increase exceeding 10% (or the lower cap enacted by the local governments) from one year to the next. The credit is calculated based on the 10% limit for purposes of ...
More About: Application , Tax credit

Town housefor rent in Howard County Maryland
2008-01-05 22:33:00
Visit http://www.howardrent.com for more pictures and informationCall Brian at 410-340-8666 Bedrooms 3 Bathrooms 3 full, 1 partial Sq Footage 2,280 Parking 1 dedicated - plenty of overflow Pet Policy No pets Rent (Deposit) $1,795 per month (1,795 deposit) Available Immediately. Welcome to this well maintained 3-finished level town home, ideally located in Willowood, Howard County ! Located at the corner of Rt 100 and Rt 103, it is less than 1 mile to I-95 and borders Ellicott City. Minutes to the Columbia Mall, Merriweather Post, 3 move theatre complexes, grocery stores, Snowden River Parkway shopping and restaurants, Ft Meade, NSA, BWI Airport and commuter rails ? Large eat-in kitchen with island, gas range, double sink, updated light fixture and ceiling fan ? Hardwood foyer and dining room ? Separate dining room with new chandelier ? Powder room with ceramic tile flooring ? Sunken living room with sl...
More About: Maryland , Town

Active Howard County Maryland Listings
2007-12-22 17:09:00
Photo Address Details Price 2925 Summer Hill Drive West Friendship, MD 21794 TourID: 381815 Sophisticated Style!Bedroom: 4Full Bath: 3Half Bath: 15019 Sq. Ft. $899,900 4570 Doncaster Drive Ellicott City, MD 21043 TourID: 412139 GORGEOUS COLONIAL W/POOL!Bedroom: 5Full Bath: 3Half Bath: 14464 Sq. Ft. $750,000 5328 Dunteachin Drive Ellicott City, MD 21043 TourID: 388158 The Ultimate Lifestyle!Bedroom: 5Full Bath: 2Half Bath: 15099 Sq. Ft. $724,000 10005 German Road Ellicott City, MD 21042 TourID: 0 CUSTOM RANCHER W/ 3700+ SQ.FT.!Bedroom: 5Full Bath: 3Half Bath: 3777 Sq. Ft. $599,999 707 Old Donaldson Ave Severn, MD 21144 TourID: 424876 REMODELED & EXPANDED!Bedroom: 4Full Bath: 2Half Bath: 10 Sq. Ft. $575,000 9103 Montague Ct Laurel, MD 20708 TourID: 422679 REMODELED 4 LEVEL SPLIT ON IDEAL CUL-DE-SAC LOT!Bedroom: 4Full Bath: 2Half Bath: 13910 Sq. Ft. $439,900 5303 Butler Court Co...
More About: Listings , Maryland , County , Howard , Active

The FED just announced another .250% rate cut at today's meeting
2007-12-11 23:17:00
The FED just announced another .250% rate cut at today's meeting, the third rate cut in three months. Also, last week the President announced a plan to lock in ARM adjustments for five years for sub prime loans that would have adjusted to higher rates. The hope is that this will prevent / postpone foreclosures on many homes, but there are many limitations on the plan that exclude a great majority of sub prime borrowers (you can not be currently delinquent, etc..). We will all have to wait and see how this shakes out and for now it is business as usual. The good news is that rates are still low! Call me if you need anything. Happy Holidays!
More About: Interest Rates , Mortgage , Rate , Meeting

"Rate Freeze Plan" Gains Traction
2007-12-11 23:11:00
Attention Home Owners: If you?ve got a 7% adjustable mortgage that?s about to skyrocket past 10%, getting a break may get a lot easier. One solution to the foreclosure problem gaining traction would freeze rates at lower levels. Lenders quietly began offering such freezes during the summer. Last week California officials announced a rate-freeze deal with four major lenders. And now the Hope Now Alliance, coalition of lenders, servicers, investors and community groups, put together by the Treasury Department, is working on its own version of a freeze. Details of the Hope Now plan have not been finalized, according to Kurt Pfotenhauer, a senior vice president for government affairs with the Mortgage Bankers Association, which is part of the Alliance. But for a borrower with an adjustable rate mortgage (ARM) at 7 percent on a $200,000 loan, a freeze would mean substantial savings. If the loan were to reset to 10 percent, the monthly payment would jump from $1,331 to $1,755. Judging fro...
More About: Freeze , Plan , Rate

US October Pending Home Sales Climb
2007-12-11 23:10:00
A forward-looking indicator of home sales in the U.S. rose during October , the second climb in a row. The National Association of Realtors? index for pending sales of previously owned homes increased at a seasonally adjusted annual rate of 0.6% to 87.2 in October from September?s 86.7, the industry group said. The level of the gauge was 85.5 in August and 91.4 in July. The NAR is forecasting sales and prices to drop in 2007 and rise weakly in 2008. NAR chief economist Lawrence Yun said the worst part of the credit crunch has been accounted for in the data, and that mortgage conditions have gotten better. ?Some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels,? he said.Finally we have some good press. The Howard County market is typically much stronger than the national market. Recently, I have been saying the market slow down is overrated. There are a l...
More About: Sales , Home , Climb , Limb

More articles from this author:
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