Holiday Photo Contest

Enter for a chance to win a $500 Home Depot Gift Card

HomesaleHolidays.com

Top 10 Things You Should Know About The 3.8% Tax

 
 All kinds of rumors have been swirling about what exactly is the 3.8% tax and how it will affect homeowners. Although referred to as a real estate tax, in reality, it is a tax on “unearned” investment income for high earning taxpayers (individuals who have an Adjusted Gross Income (AGI) over $200,000 and couples filing a joint return with an AGI over $250,000 ($125,000 when filing separately)). See below for the real skinny from the National Association of Realtors:

1.) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax.

Click here for the other 9 points...

December Housing Update

Happy Holidays!  December is here and we are starting to see Christmas lights popping up all over the neighborhood  Our neighborhood looks so festive and alive at this time of year--it is a great time to "put on your holiday best" and show off your house to it's best advantage.  People love to drive around and look at all the decorations. The inventory of homes for sale in Rodgers Forge is staying pretty steady, but still lower than normal.  There are more homes under contract than there are for sale as we look at the numbers today.  Interest rates are still unbelievable at under 3% with some programs. I am expecting an early Spring market with a lot of activity in our neighborhood come January. Call me with any real estate questions or send me a comment.

The good news--Almost all homes in RF are selling in well under 30 days!! We are a hot market. People want to live here. Take a look below.
 10 Homes Currently For Sale:

2-3bdrms, 2 bath: $269.9K-$314.5K
5-3bdrm, 1 bath: $200K-$289K
1-4bdrms, 1 bath: $319.9K
2-4bdrms, 2 bath: $269.9K-$324.9
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
11 Homes Under Contract
3-3bdrms, 2 bath: $279.9K-$320K
5 -3bdrms, 1 bath: $200K-$285K
1 -4bdrms, 3 bath (detached) $379.9K
2 -4bdrms, 2 bath: $289K- $339K
2 Homes Have Been Sold Since November 1

2 - 3bdrms, 1 bath: $237K (both needed work)


Of the 11 homes under contract 9 were sold in under 30 days ; 5 in under 10 days!

Thinking of Selling in the Spring Market?

Check out the top 15 home Updates that Pay Off!

#1 Minor Bathroom Remodel
Average return at resale: 102 percent

• It costs about $10,500 to replace the tub, tile surround, floor, toilet, sink, vanity and fixtures. You'll get back an average of $10,700 at resale, a recoup rate of 102 percent.
• If you can pipe a child's name on a birthday cake, you can re-caulk a tub. Use a softener like CAULK-BE-GONE to get rid of the old caulk. Fill the tub with water after you're done to stretch caulk while it dries.
• If your old tub is too large to fit out the door, re-glaze it for a like-new finish. Cost: $300 to $400.
• Remove dated wall coverings and apply a fresh coat of paint. For damaged walls, spray on texture provides quick coverage.
• Old shower doors can ruin any bathroom. Removing or replacing them will add the illusion of space.

Check out this link below for some very, very good information.

http://www.frontdoor.com/sell/top-15-home-updates-that-pay-off/33/p1

Fiscal Cliff Negotiations could include Homeowner Tax Breaks?

 Now that President Barack Obama has won re-election, there are several housing-related challenges staring the federal government square in the face. These are some of the decisions that will have to be made in the coming weeks: check out this link to read about the mortgage interest deduction being "revamped."
http://www.inman.com/news/2012/11/7/right-away-housing-challenges-obama

The Morning After Sandy: Rodgers Forge Roads are Passable with Scattered Tree Debris

As of 9am Tuesday morning....See damaged car on the right. (Stanmore Road)

October Housing Update

Fall has arrived; a new school year is under way; the Rodgers Forge housing market is better than ever!  Only 3 homes currently for sale--the same scenario as one month ago.  Now, that is amazing...  There is virtually no inventory and there are plenty of buyers.  Just the right mix for good prices and quick sales. Good news for home owners! Interest rates remain at all-time lows --3.5% or lower. Rentals are still filling quickly. Enjoy the change of seasons.  Call me with any real estate questions or send me a comment.
 
 3 Homes Currently For Sale:

1-3bdrms, 2 bath: $299.9K
1-3bdrm, 1 bath: $243.5K
1-4bdrms, 2 bath: $279.9K
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
8 Homes Under Contract
1-3bdrms, 2 bath: $289.9K
5 -3bdrms, 1 bath: $200K-$289.9K
1 -4bdrms, 1 bath: $325K
1 -4bdrms, 2 bath: $339.9K
6 Homes Have Been Sold Since September 1
3- 3bdrms, 2 bath: $265K-$325K
2 - 3bdrms, 1 bath: $220K-$272.3K
1 Home in Rodgers Choice Has Sold Since June 1
1 - 3bdrms, 2 bath, 2 half: $390K

Of the 9 homes under contract 5 were sold in 30 days or less.

Warren Buffet says Buy Real Estate Now!

Here is a clip from an interview with master investor, Warren Buffet.  If you would like additional information or need assistance with your home buying process, please give me a call!

Warren Buffett Interview on YouTube

NEW RODGERS FORGE LISTING COMING SOON!

NEW LISTING IN THE NEIGHBORHOOD:  COMING SOON!

STANMORE COURT
3 BR / 2 BATH
BEAUTIFUL LOWER LEVEL
GREAT YARD & DECK
EXTRA DEEDED LOT!
WONDERFUL KITCHEN

 Will be priced in the low $300's.


If you know of anyone interested in buying a home in our neighborhood--let me know!

IMPORTANT ARTICLE FOR HOMEOWNERS!

Here is an important article for homeowners to read.  If you haven't already registered your property, you may want to read this to learn if you qualify and how to take advantage of the Homestead Credit.



More than100,000 Maryland Homeowners Have Yet to Apply for Tax Break 

  

Jamie Smith Hopkins-Baltimore Sun Paper

September 10, 2012

Mortgage Rates Tumble To Recent Lows Following Fed Announcement

Mortgage rates have once again dipped under 4% following the Fed announcement this week. Click the article below for all the details. Rates continue at an all-time low.

http://www.mortgagenewsdaily.com/consumer_rates/274576.aspx

SEPTEMBER IS HOT--SOLD IN ONE DAY.....

If I was wondering what September was going to be like in the Rodgers Forge real estate market, this weekend told me all I needed to know. I listed a new property on Murdock on Friday, shown on the right, and it sold overnight. We did not even get to the open house. The "For Sale By Owner" on Overbrook Rd is already under contract as well, and at this moment, there are only 2 properties for sale in the neighborhood!
This is very encouraging for anyone considering putting their home on the market--especially in Rodgers Forge. but I still see low inventories across the board, which is a good sign for strong housing values. I think we will continue to see a very active "Second Spring" market and I will be checking daily to see any changes in our numbers.

Is September Our Second Spring?

A new school year has begun, and the market remains really strong in the neighborhood - the majority of houses are selling in under 30 days. I can hardly believe we are still showing only 3 houses for sale in the entire neighborhood....and 10 under contract, indicating that sales are robust. I expect more homes to be listed this month, and, indeed, this is an opportune time for anyone ready to put their house on the market. Low inventory is the first sign of a shift more toward a "seller's market". Interest rates remain at all-time lows--4% or lower. Rentals continue to fill almost immediately upon being listed.

3 Homes Currently For Sale:
2 -3bdrms, 1 full bath: $264.5K-$264.9K
1 -4bdrms, 2bath: $299.9K
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
10 Homes Under Contract
5 -3bdrms, 2 bath: $275K-$325K
4 -3bdrms, 1 full bath: $200K-$289.9K
3 -4bdrms, 2 bath: $339.9K
6 Homes Have Been Sold Since August 1
3 - 3bdrms, 2 bath: $273K-$292.5K
7 - 3bdrms, 1 bath: $170.4K-$289K
1 - 5bdroms, 2 bath: $435K
0 Homes in Rodgers Choice Have Sold Since August 1
1 - 3bdrms, 2 bath, 2 half: $390K

Of the 10 homes under contract almost all sold in 30 days or less.

A Perfect Storm Forming for Sellers: Only 3 Homes For Sale Right Now in Rodgers Forge!!

I have never seen this happen for as long as I have been tracking sales in the neighborhood. There are only 3 homes for sale and 14 under contract, most of which were sold in way less than 30 days. This indicates a very, very strong market for sellers. With inventories this low and interest rates still under 4%, it looks like the housing recovery is here to stay. We still have a volume of foreclosures to hit the market this year in the Baltimore region, but it doesn't seem to be affecting Rodgers Forge at all.
Rodgers Forge homes that are in great shape with 3 bedrooms, 2 bathrooms and an open kitchen can usually command prices over $300K. If it is an End-of-Group than prices can be as high as $325K or so.
A "Perfect Storm" scenario such as this raises the tide for all boats in a neighborhood like ours. If there was EVER a good time to put your house on the market (even though August is usually the worst month for activity), now is the time.

We've enjoyed some really hot days here in Baltimore this summer, and we've had some equally hot days in the Forge housing market - two houses sold the same day they were listed! Overall, almost half of the houses listed are selling in under 30 days. Inventory continues to be way lower than last year indicating that sales are robust. I cannot remember the last time there were only 6 houses for sale in the Forge! Interest rates are still cruising at all-time lows --3.5% or lower (a decrease from 4% last month). Rentals are filling quickly. Enjoy the rest of your summer and call me with any real estate questions or send me a comment.
6 Homes Currently For Sale:
2 -3bdrms, 2bath: $289.9K-$439K
3 -3bdrms, 1 full bath: $274.9K-$289,9K
3 Rodgers Choice Currently For Sale
2 - 3bdrms, 2bath,: $405K-$429,9K
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
10 Homes Under Contract
4 -3bdrms, 2 bath: $275K-$339,9K
6 -3bdrms, 1 bath: $200K-$274,8K
10 Homes Have Been Sold Since June 1
5 - 3bdrms, 2 bath: $180K-$307K
3 - 3bdrms, 1 bath: $235K-$270K
1 - 4bdroms, 2 bath: $325K
1 - 4bdroms, 3 bath: $322,5K
1 Home in Rodgers Choice Has Sold Since June 1
1 - 3bdrms, 2 bath, 2 half: $390K

Of the 10 homes under contract 4 sold in less than 30 days, and 6 sold in less than 60 days.

Is the Housing Crisis Over?

Daily Real Estate News | Thursday, July 12, 2012

It’s official: The housing market has reached bottom, at least according to 44 forecasters surveyed by The Wall Street Journal. Only three economists surveyed said they didn’t think the market had reached bottom yet.

The recent momentum in housing has plenty of economists and forecasters convinced that the worst is behind. According to many real estate indices, home prices are up, sales of existing and new homes are picking up year-over-year, and inventories of for-sale homes have fallen dramatically.

The decrease in for-sale inventory is the key and will likely help maintain the rise in home prices, Mark Fleming, CoreLogic chief economist, told The Wall Street Journal.

What’s more, the number of vacant homes is at its lowest point since 2006, The Wall Street Journal reports.

Now that the “bottom” has been reached, economists admit there’s still a long way to go for a full recovery. In particular, more than one in every four home owners with mortgages are still underwater, owing more on their loan than their home is currently worth. However, analysts note that rising home prices are chipping away at that number. Also, shadow inventory of unsold homes and foreclosures still threaten the momentum of the recovery as well.

“From here on, housing is unlikely to drag the U.S. economy down further,” JPMorgan Chase economists note. “It will instead reflect the strength or weakness of the overall economy: The more jobs, the more confident Americans are about keeping their jobs, the more they are willing to buy houses.”

Source: “Housing Passes a Milestone,” The Wall Street Journal (July 11, 2012)

July Housing Update

Summer is now in full swing and the market continues to be really strong in the neighborhood - the majority of houses are selling in under 30 days. Inventory is still significantly lower than last year indicating that sales are robust. Interest rates remain at all-time lows--4% or lower. Rentals continue to fill almost immediately upon being listed. Have a safe and happy 4TH OF JULY!
16 Homes Currently For Sale:
4 -3bdrms, 2bath: $229.9K-$325K
8 -3bdrms, 1 full bath: $219.9K-$289K
3 Rodgers Choice Currently For Sale
3 - 3bdrms, 2baths,2 half: $415K-$467.5K
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
11 Homes Under Contract
3 -3bdrms, 2 bath: $245K-$320K
4 -3bdrms, 1 full bath: $200K-$275K
1 -4bdrms, 3 bath: $335K
3 -4bdrms, 2 bath: $325K-$339.9K
12 Homes Have Been Sold Since June 1
3 - 3bdrms, 2 bath: $273K-$292.5K
7 - 3bdrms, 1 bath: $170.4K-$289K
1 - 5bdroms, 2 bath: $435K
1 Home in Rodgers Choice Has Sold Since June 1
1 - 3bdrms, 2 bath, 2 half: $390K

Of the 11 homes under contract 9 sold in less than 30 days.

Great Article as posted on The Daily Record Website

Pending home sales at highest level in 2 years

Posted: 11:56 am Wed, June 27, 2012
By Associated Press

WASHINGTON — Americans signed more contracts to buy previously occupied homes in May, matching the fastest pace in two years. The increase suggests consumers are gaining confidence in the housing market and a modest recovery will continue.

The National Association of Realtors said Wednesday that its index of sales agreements increased to 101.1 last month from 95.5 in April. That matches March’s reading, the highest since April 2010, when a home-buying tax credit boosted sales.

A reading of 100 is considered healthy. The index is 13.3 percent higher than it was a year ago. It bottomed at 75.88 in June 2010, after the tax credit expired.

The increase supports other data showing steady improvement in the housing market this year, even as hiring slumps and consumer confidence sags.

Sales of new and previously occupied homes are up over the 12 months. Builders are starting more projects. And prices are rising in most markets.

“Despite the gloom in much of the recent economic data, housing continues to show real signs of life,” said Ian Shepherdson, chief U.S. economist at High Frequency Economics.

The economy benefits when home sales rise. Buyers typically spend more on renovations, furniture, appliances and landscaping.

There’s also a psychological factor. In good times, most homes rise in value. When homes appreciate, people feel they have more money. So they spend more. Consumer spending drives roughly 70 percent of economic activity.

It typically takes one to two months for buyers to close on a home after signing a contract. So the increase in signed contracts suggests completed home sales will rise this summer. That could drive prices higher and encourage more people to put homes on the market.

Home prices increased in 19 of 20 major U.S. cities in April from March, according to the Standard & Poor’s/Case-Shiller index, released Tuesday. A measure of national prices rose 1.3 percent in April, the first increase in seven months.

Still, sales remain far below healthy levels. Analysts say it could be years before the housing market returns to full health.

One reason prices are rising is the supply of homes for sale remains extremely low. The inventory of previously occupied homes for sale is back down to levels last seen in 2006. And there were 145,000 new homes for sale in May, just 1,000 higher than in April, which was the lowest supply on records dating back to 1963.

The Realtors group cautioned that sales could slow if more people don’t list their homes.

The limited inventory should spur more home building, the Realtors group said. If housing starts don’t increase, the limited supply could drive up prices.

In May, contract signings increased in all regions. The largest rise was in the West, where the index jumped 14.5 percent in May. Signings rose 6.3 percent in the Midwest, 4.8 percent in the Northeast, and 1.1 percent in the South.

Despite the modest gains in housing, the broader economy has weakened in recent months. Employers have added an average of only 73,000 jobs a month in April and May. That’s much lower than the average of 226,000 added in the first three months of this year.

You may link directly to this article on The Daily Record's website:

http://thedailyrecord.com/21012/06/27/contracts-to-buy-u-s-homes-rise-match-2-year-high/

Housing Market Gets a Positive Review

According to gazette.net, our state's housing market is "[moving] in the right direction," as stated by Carlton J. Boujai Jr., the Maryland Association of Realtors' (MAR) board president-elect.

Based on numbers put out by MAR and Metropolitan Regional Information Systems (MRIS), average sales prices are just under $307,000, an increase of around 9 percent, and median home sales prices are roughly $259,000, up 11 percent .

Baltimore County and Baltimore City were among several regions that had increases in sales and prices this May as compared to May of last year.

As homeowners (and potential homeowners), it's wonderful to here good news about our local housing market.

Read more about it here:

http://www.gazette.net/article/20120611/NEWS/706119972/0/gazette&template=gazette

June Housing Update

Summer is here and the market is so strong in the neighborhood that the average time it takes to put a house under contract right now is a week! Inventory remains significantly lower than last year indicating that sales are robust. Under Contract numbers continue to be very high--high and sometimes higher than our active listings. Rates are at incredible lows which is helping to fuel buyers that NOW is the time to purchase a home. Rentals are very low and almost as soon as a house is listed for rent, it is rented. Have a wonderful June and enjoy our lovely weather. Great for house hunting--

16 Homes Currently For Sale:
6 -3bdrms, 2bath: $229.9K-$479.9K
8 -3bdrms, 1 full bath: $219.9K-$289K
1 -4bdrms, 2 bath: $284K
1 - 4bdrms, 3bath: $335K
0 Rodgers Choice Currently For Sale
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
16 Homes Under Contract
5 -3bdrms, 2 bath: $239.9K-$399.9K
9 -3bdrms, 1 full bath: $185K-$309K
1 -4bdrms, 2 bath: $339.9K
1 -5bdrms, 2 bath: $449K
12 Homes Have Been Sold Since April 1
6 - 3 bdrms, 2 bath: $270K-$299K
5 - 3bdrms, 1 bath: $238K-$275
1 - 4bdrm, 2 bath: $337.5K

Average number of days to put a house under contract: 7 days!

May Rodgers Forge Housing Update

Interesting to note that we have about the same number of houses under contract as are currently for sale. Check out the numbers, but this indicates a hot market in The Forge. We have experienced an early Spring and it is continuing to be very active.  Rates are still low and buyers are actively looking. I will post a list of criteria that most buyers have on their list for our neighborhood--
 
18 Homes Currently For Sale:
3 -3bdrms, 2bath: $229.9K-$320K
10 -3bdrms, 1 full bath: $239.9K-$289K
1 -4bdrms, 2 bath: $289K
1 - 4bdrms, 3bath: $339K
1 - 5bdrm, 2bath:  $449K
2 Rodgers Choice Currently For Sale
2 - 3bdrm, 2 bath, 2 1/2 bath: $449.9K, $479.9K
1 Rodgers Forge Condo (2 bedroom)
1 - 2 bdrm, 2 bath: $190K
21 Homes Under Contract
9 -3bdrms, 2 baths: $239.9K-$307K
10 -3bdrms, 1 full bath: $185K-$309K
2  -4bdrms, 2 baths: $339K-$342K
11 Homes Have Been Sold Since April 1
4 - 3 bdrms, 2 baths: $271.5K-$325K
5 - 3bdrms, 1 bath: $195K-$262.5
1 - 4bdrm, one bath: $305K
1 - 5 bdrm, 3 bath Victorian (Rodgers Choice) $520K
Of the 21 homes under contract, 20 were on the market 38 days or less.

April Housing Update

16 Homes Currently For Sale:
3 -3bdrms, 2baths: $287K-$399K
10 -3bdrms, 1 full bath: $244.9K-$289K
2 -4bdrms, 2 bath: $299K-342K
1 - 4bdrms, 3bath: $349K
18 Homes Under Contract
7 -3bdrms, 2 baths: $239.9K-$299K
8 -3bdrms, 1 full bath: $185K-$284K
1 -4bdrms, 1 baths: $325K
1 -4bdrms, 2 baths: $339.9K
11 Homes Have Been Sold Since March 1
9 -3 bdrms, 2 baths: $245K-$325K
2- 3bdrms, 1 bath: $250K-$262.5
Of the 18 homes under contract, 8 were on the market 20 days or less!

March Neighborhood Market Update

14 Homes Currently For Sale:
3 -3bdrms, 2baths: $259K-$299K
8 -3bdrms, 1 full bath, 1 half bath: $200K-$289K
2 -4bdrms, 2 bath: $308-325K
18 Homes Under Contract
11 -3bdrms, 2 baths: $245K-$330K5
5 -3bdrms, 1 full bath, half bath: $185K-$275K
1 -2bdrms, 2 baths: $339.9K (Condo)
1 -4bdrms, 2 baths: $339.9K
1 -5bdrms, 3 baths: $599K (Victorian-short sale)
2 Homes Have Been Sold in the last 30 day:
2 -3 bdrms, 2 baths: $245K-$285K
Of the 8 homes currently under contract, 5 were on market 32 days or less!

February Neighborhood Market Update

Wow! Activity just this week would indicate an early Spring market underway in the Forge! We are seeing houses going under contract very quickly. IF this keeps up, our inventory will stay reasonably low which will be a good thing for sellers and prices will stay steady. There are a lot of buyers out there right now. See stats below:
18 Homes Currently For Sale:
8 -3bdrms, 2baths: $245K-$330K
9 -3bdrms, 1 full bath, 1 half bath: $185K-$284K
1 -4bdrms, 1 bath: $274K

8 Homes Under Contract
4 -3bdrms, 2 baths: $259K-$299K
1 -3bdrms, 1 full bath, half bath: $200K
1 -2bdrms, 2 baths: $339.9K (Condo)
1 -4bdrms, 2 baths: $339.9K
1 -5bdrms, 3 baths: $599K (Victorian-short sale)

3 Homes Have Been Sold (from January 1)
2 -3 bdrms, 2 baths: $247K-$254K
1 -3bdrms, 1 full bath, 1 half bath: $230K

Of the 8 homes currently under contract, 5 were on market 32 days or less!

Housing Market Picks Up Speed for 2012

(MoneyWatch) By Ilyce Glink

It's only January, but already the latest real estate news indicate that the housing market is looking up.

CoreLogic's latest MarketPulse report, released Wednesday, suggests 2012 could be the year of the housing turnaround. Improved unemployment figures, low mortgage interest rates and inexpensive homes could be just the kick the housing market needs to begin a recovery.

Home sales are expected to rise between 2 and 5 percent year-over-year, according to Freddie Mac's U.S. Economic and Housing Market Outlook survey, also released Wednesday. That's not as much - or as quickly - as some people would like to see, but at least it didn't forecast home prices to fall further than they already have.

Foreclosures hit lowest level since 2007
FHA extends waiver to help resell foreclose homes
Freddie Mac offers a break to unemployed homeowners

This optimistic outlook is due largely to all the good economic news we're hearing about the end of 2011: Existing home sales increased in November, while the inventory of unsold homes decreased to a six-to-seven month supply. Nearly 80 percent of American households believe now is a great time to buy, and if that optimism translates to sales, the inventory could dwindle even further.

It's not just buyers who are feeling good about the 2012 real estate market. Homebuilder confidence is the highest it's been since 2007, due once again to the economic news we're hearing about the latter part of 2011.

Housing starts began to climb last year, rising to around 600,000 in 2011 from 587,000 in 2010. The latest National Association of Homebuilders (NAHB) index rose four points from December 2011, reaching 25 on the 100-point scale. The optimal score is 50 and, while we're not there yet, we could be on our way: According to the NAHB, confidence has risen four months in a row, with the latest uptick measured across each region.