$8,000 Home Buyer Credit May be Extended

The deadline for the current $8,000 credit is November 30. To take advantage of this, buyers may need to make an offer on a house by the end of September, according to the National Association of Realtors. (That's because it's taking longer to complete transactions these days, the trade group says.) In the face of this looming deadline, housing and real estate interest groups have stepped up their efforts to convince lawmakers in Washington to extend the credit. Sen. Johnny Isakson, a Georgia Republican who worked in the real estate business before turning to politics, has been pushing for an expansion of the credit for some time. "December through February is historically the worst time for home sales anyway because of the winter months, so with the credit ending November 30, you have a double whammy" on the market, Isakson says. On Wednesday, he and several other lawmakers—including Senate Majority Leader Harry Reid, a Nevada Democrat—introduced a bill that would extend the tax credit for an additional six months. (Isakson had previously introduced legislation to extend the credit by a year.)
Credit--Luke Mullins, US News and World Report

Rates are Still at All-time Lows

As of September 18,2009

FHA 30 Year Fixed
$175,000 to $417,000
Credit Score 660, 3.5% Down
5.00% & 04.75% & 1.5 points
FHA - Jumbo 30 Year Fixed
$417,001 to $560,000 (Baltimore Metro Area)
Credit Score 660
3.5% Down
5.25% & 5.00% & 1 point
Conforming 30 Year Fixed
$275,000 to $417,000
Score 740
5.00% & 4.75% & 1 point
15 Year Fixed
$275,000 to $417,000
Credit Score 660+
4.375% & 0
Conforming ARMS5/1 Libor Arm
$275,000 to $417,000, 5/2/5 Caps,
Credit Score 740
4.125% & 3.75% & 1 point

September Housing Update

As of today in The Forge:

--15 houses currently for sale from $268.5K -$319.5K. This is less than 1% of the homes in the neighborhood.
--12 are 3bdrms w 1 bath, 3 are 3bdrms w 2 baths.
--8 homes are currently under contract
--It took an average of 43 days for these homes to go under contract.
--7 homes have sold since August 1.
-- 3 were 3 bdrms w closing prices from $267K- $304K
--2 were 4 bdrms w closing prices of $309K-$350K
--1 was a 5bdrm closing at $440K.

The deadline is approaching for the First-Time Homebuyer credit! This is such a deal! $8,000 can be yours if you settle on your first property (within the last 3 years) by DECEMBER 1. Rates are still low, and houses are very affordable! Need more details? Have questions? Write in or feel free to call me.

July Housing Update

As of today in The Forge:
--19 houses currently for sale from $269K -$415K. This is about 1% of the homes in the neighborhood. OF these:
-- 2 are 5bdrms priced from $392.5K-$415K
--1 is a 4bdrm at $307K
--16 are 3bdrms priced from $269K-$319K. Of these only 3 have 2 baths.:
--8 homes are currently under contract--It took an average of 36 days for these homes to go under contract.
--11 homes have sold since July 1.
--Of these 8 were 3 bdrms/2baths w closing prices from $$275K-$320K
--2 were 4 bdrms w closing prices of $330K-$342K
--1 was a 5bdrm closing at $390K.
The Forge continues to see a robust market. Rates are still very good, houses are very affordable and buyers have lots of reasons to buy in this market--especially first time home buyers who can take advantage of the $8,000 tax credit!
Need more details? Have questions? Write in or feel free to call me.

What a Difference A Makeover Makes!

When selling a house, perception is everything. And sometimes it is just the little things. The splash of color from a well placed throw rug or a tall vase with colorful blooms, or the bowl of limes on the table....
A few makeover tips for homeowners/ home sellers:
--if it looks tired, it is. Freshen up a room by putting in a new throw rug, or getting a new lampshade.
--check your bedding. Does it have some miles on it? Some fresh colors might make it a whole new room!
--dramatic artwork can really set off a room. Get some cool wrapping paper from a specialty shop and cut it to fit a frame and voila!
--de-clutter! Less is more when showing off your real estate space.
--Plants and flowers are great, but keep them freshly watered so they look plump and fresh.
--the more light the better. Brighten up your lower level with lamps and more lamps.
--For great curb appeal, sharp edging of your lawn along the sidewalk can make all the difference!

RODGERS FORGE IS OPEN ON SUNDAY!

Starting at 12 noon on Sunday, there will be more than 12 homes open in Rodgers Forge--Take advantage of this big neighborhood OPEN HOUSE and bring your friends to the neighborhood, or, just go around and get some decorating ideas or landscaping ideas! Don't miss it! The Real Estate Blog would love to hear your feedback on these homes--any comments you have would be very welcome!! Houses are selling well in our neighborhood, rates are good, and summer is an ideal time to make a move! So take the kids, bring a friend, and visit some homes....
Below are some of the houses that will be open for your viewing:

107 Brandon Road--12-2pm
427 Dunkirk Road--12-2pm
132 Stevenson Lane--1-3pm
7212 Lanark Road--12-2pm
7235 Lanark Road--12-2pm
27 Murdock Road--12-2pm
32 Murdock Road--12-2pm
40 Murdock Road--12-2pm
134 Overbrook Road--1-3pm
149 Regester Avenue--12-2pm

July Housing Market Update

As of today in The Forge:
--22 houses currently for sale from $269K -$430K. This is about 1% of the homes in the neighborhood.
--Of these: 3 are 4bdrms priced from $307K-$369K
--2 are 5bdrms priced from $392.5K-$430K
--3bdrm price range is $269K-$319.9K
--Of the 3bdrms, 11 have 1 bath, 7 have 2 baths
--14 homes are currently under contract
--Average time it takes to put a home under contract is 46 days, but most took less time than that.

--12 homes have sold since June 1.
--Of these 12 were 3 bdrms w closing prices from $$240K-$348K
--2 were 4 bdrms w closing prices of $342K-$410K.

The Forge continues to see a robust market. Rates are still very good, houses are very affordable and buyers have lots of reasons to buy in this market!
Need more details? Have questions? Write in or feel free to call me.