Archive for September, 2009

BRAC brings money to Joppatowne High School

September 19, 2009 at 2:58 pm · Filed under Maryland Happenings!, Maryland Real Estate ·Tagged , , , , , ,

BRAC brings money to Joppatowne High School, not just the general area! Joppatowne High School just received a $143,000 grant for the expansion of the homeland security and emergency preparedness program at the school.  The school’s magnet program prepares students in science and technology fields and should help the county meet job demands related to BRAC, the nationwide military base expansion that will bring as many as 10,000 jobs to Aberdeen Proving Ground.

As many are asking what benefits the area will see to justify the expenses of major road improvements and such are costing the State of Maryland and Harford County, this is just an example. I believe as many others that the housing and job markets are also seeing and will continue to see improvement in the area.

See the details as reported by the Baltimore Sun at :  http://tinyurl.com/m4s5wk

Leave a Comment

Fiddler On The Roof Farewell Tour – Don’t Miss it!

September 18, 2009 at 3:41 pm · Filed under Maryland Happenings! ·Tagged , , , , , , ,

Fiddler on the Roof Farewell Tour – Don’t Miss it! If you have seen the play, the movie, or read the book, you haven’t enjoyed it to its fullest if you haven’t seen the play live with Topal as Tevye!  Topal played Tevye in the movie version.  I have watched the movie, but still was overwhelmed when I saw the play live staring Topal several years ago.  While I am not a theatre ”buff”, and took others with me that didn’t necessarily like going to the theatre, everyone enjoyed it immensely!  The tour will be at the Hippodrome Theatre in Baltimore starting October 20th. Treat yourself while you can still see Topal in the staring role.  What a classic! You won’t regret it!

Link to Fiddler on the Roof site:  http://www.fiddlerontour.com/index.html

Direct link to theatre:  http://www.france-merrickpac.com/events/index.html

Leave a Comment

August Sales Stats for Maryland are in!

September 15, 2009 at 3:51 pm · Filed under Maryland Real Estate, Real Estate Topics ·Tagged , , , , , ,

August sales stats for Maryland are in and the number of homes “pending”, which means they are under contract waiting to go to settlement or closing is impressive! Compared to August of 2008, Harford County is up over 55%,   Baltimore County is showing a 45.9% increase, and Carroll County is at a 29.1% increase.

Many of us are watching to see how much of this increase is the result of the $8,000 tax credit for first time buyers.  Allowing for what is usually considered a “normal” slowdown during December and through the holidays, it will be interesting to see what happens to the market after the first of the year.   Many of the first time buyers have been out and will be hitting the market hard through September and October, needing to settle by November 30th to qualify for the tax credit. 

There is also a massive grass roots effort trying to get the tax credit, or at least something similar, established for when this credit expires. However, nobody knows for sure if this will happen. So again, if you are a first time buyer sitting on the fence, you may want to jump now!

Want more information on current sales stats?  http://www.ltrealty.com/statspage.htm

Leave a Comment

Time is running out!

September 1, 2009 at 6:54 pm · Filed under General

Time is running out for the $8,000 first time home buyer credit. You must have purchased and closed on your home by November 31, 2009.

You should actually try to purchase and close on your home by the middle of November. Why?

Should there be a problem at the closing and you have to postpone a day or two, and you were scheduled to settle November 31st, you have a problem. You will not receive the $8,000 tax credit if you settle (close) on December 1st or after!

Things happen that are outside the control of the buyer, seller and their agents. The lenders are expecting they will be extremely busy in November and I doubt they will be hiring additional help just for 30 days, so it’s quite possible they could get backed up.  The title companies and attorneys that actually conduct the closings can only conduct so many per day. I don’t want to go into a list of horror stories of what “could” happen, so why not be on the safe side. 

While it’s not uncommon to close a house in 30 days, why not allow 60 days from your date of contract (where you actually purchase the house) and your closing (when the house becomes yours) plus two weeks.  That means you should do your best to purchase a home in the beginning of September!

Don’t let this opportunity pass you by.  Of course I am not advising anyone to purchase a home if you do not feel financially you are able.  However consider the following: 

  1. If you have not owned a home in the past 3 years
  2. If you are comfortable with your job security 
  3. Have the minimal funds needed (3.5% of the price of the home)
  4. Have a credit score of 600 or over
  5. Interest rates are pretty low (I received a quote of 5.5% on FHA today with no points)
  6. The inventory is still affording you a choice of quality homes at reasonable prices
  7. And you are still “sitting on the fence deciding”

 I suggest you jump on the buy side of the fence quickly!

If you need assitance or more information, please feel free to contact me at your convenience!

leah@ltrealty.com

410-529-2500 Ext. 55

Leave a Comment