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Why Attic Ventilation can Make a Difference!!!!

 The G-Team your Maryland Real Estate Connection, is a full-time team with over 19 years of experience. We provide service to our clients in all areas of Maryland. Our areas of specialty include Real Estate in Central Maryland

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Proper attic ventilation is important, especially for homes located in climates where snow and ice dams are common. Take advantage of summer weather to inspect your home for adequate attic ventilation and make necessary repairs or improvements.

A well-ventilated attic helps expel warm air and refresh it with cooler outside air. The National Roofing Contractors Association (NRCA) says proper air circulation can help:

  • Remove excess heat and moisture from attics to prevent condensation that could lead to mold and mildew, structural damage and ice dams during winter.

  • Reduce the average air temperature inside an attic during summer.

  • Maintain the manufacturer’s warranty on some asphalt shingle systems.

Types of Attic Vents

Attic ventilation recommendations range from 1 square foot of ventilation for every 150 square feet of attic space to 1 square foot for every 300 square feet. According to the NRCA, a common way to vent asphalt roofs is with non-powered or “passive” ventilation that balances air intake with air exhaust. Common passive vents include:

  • Ridge vents. Exhaust vents installed along the roof’s peak that are either covered by shingles or exposed along the ridgeline.

  • Static vents. Individual protected exhaust vents installed near the roof’s ridge.

  • Gable vents or wall louvers. Exhaust vents placed in walls at gabled ends of an attic that can function as both intake and exhaust vents.

  • Wind turbine vents. Exhaust vents that use wind power to turn an internal fan, drawing hot air from the attic. Compared to static vents, these can increase the rate at which air is expelled, depending on wind speed.

  • Soffit vents. Continuous or individual vents installed along an attic’s soffits or eaves. Soffit vents should never be blocked by insulation.

The NRCA provides additional information about attic ventilation on its website.

The information in this article was obtained from various sources. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. Nor is it intended to effect coverage under any policy. State Farm makes no guarantees of results from use of this information. We assume no liability in connection with the information nor the suggestions made.

Source:  Gary Carpenter: State Farm Ins. news letter

If you or someone you know is interested in Buying a home, Selling a home or renting a home, WE CAN HELP! We provide Experience, Integrity and Solutions to help you through the real estate process. Our website www.MarylandHomeSearchSite.com has all the information you need. It is designed to share info about the community, it’s neighborhoods, real estate trends, housing prices and the ability to create your own search for listings.

We’re ready to help you. Contact us by phone at (443)790-6918

or email theg-team@theg-team.com or contact.

SEARCH ALL MARYLAND HOMES FOR SALE

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Posted by on June 24, 2012 in Uncategorized

 

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Top 10 Reasons To Choose A First American Home Warranty Plan

1. A variety of affordable, customizable plans available

2. Local, certified and insured contractors to protect you

3. No “Obsolete Parts” clause – if we can’t repair it, we replace it

4. Most contracts provide coverage for unknown conditions, lack of maintenance, sediment, rust & corrosion in the basic plan

5. No size or age limitations on systems and appliances

6. Experienced, reliable sales representatives available to answer questions

7. BBB accredited business “A+” reliability rating*

8. Financial strength to protect your customers

9. Service Department is available 24 hours a day, 365 days a year

10. Providing quality service since 1984

Visit www.firstamrealestate.com or call Janet Santiago at 301.335.4461 for more information on home warranties through First American.

TheG-Team your Maryland Real Estate Connection, is a full-time team with over 19 years of experience. We provide service to our clients in all areas of Maryland. Our areas of specialty include Real Estate Central Maryland.

If you or someone you know is interested in Buying a home, Selling a home or renting a home, WE CAN HELP! We provide Experience, Integrity and Solutions to help you through the real estate process. Our website http://www.MarylandHomeSearchSite.com has all the information you need. It is designed to share info about the community, it’s neighborhoods, real estate trends, housing prices and the ability to create your own search for listings.

We’re ready to help you. Contact us by phone at (443)790-6918 or email theg-team@theg-team.com or contact.

 
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Posted by on May 17, 2012 in Uncategorized

 

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7 Clever Home Buying Negotiation Tactics

Getting the house you want at the price you want can be tricky – even in a buyer’s market. Sometimes a home seller just isn’t willing to budge on price. Don’t despair! There are other ways to sweeten the deal and drive it to close in a buyer’s market. Here are seven tips on how to negotiate with a home seller.

Seller

Learn as much as you can about the motivations and situation of the home sellers. For instance, if they’re living in the house and they need flexibility around the closing date, you could offer to be flexible on closing if they move on terms. In the case of estate properties, take some time to learn about the heirs – where they live, what kinds of houses they live in and whether or not they are in legal or financial trouble. It sounds creepy, but most of this information is available for free online once you have the names of the home sellers. You can also research obits and marriage documents that are in the public domain. The more you know, the more leverage you have when it comes time to negotiate.

Know What the Property is Worth

Work independently or with your agent to research comparable sales in the immediate area of the home, then make an offer at least 10 percent below what the market says it’s worth. Dig into the details to figure out how the home you want to buy stacks up against comps, and look for ways to communicate the legitimacy of your offer or requests by backing it up with data. For instance, if all comparable sales have a pool, waterfront property or updated kitchens and the house that you want doesn’t, point that out. Use this data to justify your offer or other requests to create value if they won’t budge on price.

Don’t be Afraid to Ask

If there are things that you want or need to feel comfortable with the deal, ask for them. The home seller can always refuse, but if you don’t ask, you don’t know. If you’ve created leverage by learning about the property and the seller’s situation, you can use this information to ask for things, such as repair of items found during the inspection period or appliances that weren’t listed on the original contract for the house. Don’t make assumptions. Even if your realtor balks at the idea, always ask.

Offer a Quick Close

The faster a deal gets done, the more quickly the home seller can cash out their asset and move on with life. Homes that remain on the market or unsold for extended periods of time become costly to sellers (especially if they’re unoccupied) and start to decline in condition. Offering a quick close builds confidence with the seller as it means that there’s less time for things to go sour with the deal. If you’re situation allows for this negotiation tactic, you might be able to either lower your price or get other benefits in exchange.

Make an As-Is Offer and Ask for the Furniture

If you want to make a reasonable but low offer on a property, consider the pros and cons of presenting an “as-is with right to inspect “ offer. The upside is that you can walk away from the deal if the inspection frightens you. The downside is that what you see is what you get, leaky plumbing, termites, mold and all. If you really want a property and are willing to take it as-is, but aren’t really comfortable with the seller’s floor price, ask for the furniture or other non-fixed assets that make the deal more palatable such as a boat or fitness equipment.

Ask the Home Seller to Cover Closing Costs

If you’re apart on price for the home itself, one way to get around the cash crunch and get a deal done is to meet the home seller on price, but ask them to cover all or part of the buyer’s closing costs. Some home sellers might balk, but if they’re able to do this and want to finish the deal with a sale at a particular price point, this technique can work.

Be Willing to Walk Away

Buying a home can be an intensely emotional experience, but at the end of the day it is really just a business transaction. This means you can’t get attached, and you have to be willing to walk away if you’re unable to negotiate with a home seller or if the seller becomes unreasonable. If the seller’s agent senses desperation or over-eagerness on your part, they might interpret that as a signal that they have the upper hand. Silence can be your friend. Hold your cards close and always be willing to walk away.

CLICK TRUCK to SEARCH for MARYLAND Homes for Sale

The G-Team, your Maryland Real Estate Connection: We are located in Millersville, Maryland between Baltimore and Annapolis in Anne Arundel County convenient to Fort Meade. We also service Howard & Queen Anne’s Counties and central Maryland. Whether you are BUYING, SELLING, RELOCATING or Short Sales we can HELP with Real Estate in Anne Arundel County, Howard County, Queen Anne County, Baltimore County, Harford County,  Annapolis, Arnold, Crofton, Crownsville, Davidsonville, Eastport, Edgewater, Fort Meade, Gambrills, Glen Burnie, Hanover, Linthicum Heights, Millersville, Mitchellville, Odenton, Pasadena, Piney Orchard, Severn, Severna Park, Columbia, Ellicott City, Clarksville, Kent Island, Bel Air, Bowie, Brooklyn Park, Catonsville, Curtis Bay, Dundalk, Elkridge, Essex, Farmington Village, Gibson Island, Grasonville, Halethorpe, Harmans, Laurel, Lutherville, Timonium, Parkville, Perry Hall, Piney Orchard, Queenstown, Riva, Shipley’s Choice, Stevensville, Tracy’s Landing, West River, White Marsh, Middle River, Towson, Abington, Woodstock, Bowie, Forest Hill, Notingham, Parkville, White Marsh, Rosedale, Perry Hall, Cooksville, Owings Mills, West Frendship, Woodstock, Mount Hebron, Sykesville, Eldersburg, Marriottsville, Ocean City, Owings Maryland

 
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Posted by on April 1, 2012 in Uncategorized

 

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Home Mortgage Interest Deduction

Home Mortgage Interest Deduction History

Home mortgage interest is interest a homeowner pays on a loan secured by their home (a main home or a second home). The loan can be a mortgage to buy your home, a second mortgage, a line of credit, or a home equity loan.

The home mortgage interest deduction is a very old tax deduction in the income tax law. Shortly after the 16th Amendment was ratified in 1913, the modern federal income tax was enacted. At that time all interest payments were made deductible.

In 1986, the Tax Reform Act eliminated many tax deductions in the federal income tax, but it left the home mortgage interest deduction largely intact. It eliminated the deductibility of all consumer interest, including deductions for credit card debt and loans to finance cars, furniture, and other consumer durable items, but it retained a one million dollar limit on home mortgage interest deductions.

Again in the 1990s, there were proposals to replace the income tax system with a system based on taxing consumption, and these plans proposed eliminating the home mortgage interest deduction. These plans died out, however, over arguments about how the removal of the tax deduction on mortgage interest would affect the housing market.

Now, with the federal government strapped for cash and congressmen and women looking for ways to reduce the federal deficit, proposals are again being put forward to reduce the one million dollar limit or to completely remove the tax deduction on home mortgage interest. According to the Tax Policy Center:

ôIn 2012, the MID [mortgage interest deduction] will cost the federal Treasury an estimated $131 billion, much more than the total of all outlays by the Department of Housing and Urban Development ($48 billion). Homeowners also benefit from other federal tax preferences, including deductibility of residential property taxes on owner-occupied homes ($31 billion), and exclusion of tax on the first $250,000 ($500,000 for joint returns) of capital gains on housing ($50 billion).ö

Many economists believe that the United States encourages people to borrow money by offering the tax deduction of home mortgage interest. The home mortgage interest deduction helps promote home ownership, but many economists feel that a system that encourages people to take on more debt and discourages saving is not a good thing.

How Would the Removal of the Tax Deduction on Mortgage Interest Affect the Housing Market?

In a rapidly growing economy, asset prices, such as the value of a home, increase. This makes the expected return from owning a home higher than if the economy is not growing as we’ve seen in recent years where housing prices have decreased dramatically.

The tax deduction on home mortgage interest makes the cost of owning a home lower. The removal of the tax deduction on mortgage interest would affect the housing market by causing the demand for homes to decrease and therefore housing prices to fall even more.

For example, most people base the decision to buy a house primarily on the monthly cost of owning versus renting. You calculate the rental equivalence that combines after-tax mortgage payments, property taxes, insurance, maintenance, and the cost of your down payment. Ginnie M’ offers a Buying vs. Renting Calculator just for this purpose. For a given mortgage interest rate, removal of the tax deduction on mortgage interest increases the after-tax cost, leading to a higher monthly payment and, therefore, a decline in demand for owner-occupied housing. This reduction in demand ultimately reduces housing prices, but it is interesting to note that in countries that don’t offer a mortgage interest deduction, like England for example, home ownership is about the same as in the U.S. Housing prices, however, are much lower.

Many economists argue that economies are better off when people are making financial decisions based on strong economic principals rather than tax considerations. In fact, some claim that the current housing crisis is due, in part, to increased borrower debt magnifying risk. An interesting question to consider is whether or not borrowers would have bought homes during the recent housing bubble if there had been no home mortgage interest deduction.

Mortgage Interest Deductions and Non-itemizers

The effect that removing the tax deduction for home mortgage interest has on housing prices differs across income levels. Most of the benefits of the home mortgage interest deduction are accrued to higher-income households. This is mainly because lower-income households do not tend to itemize their tax returns, so mortgage interest deduction does not benefit non-itemizers to the same degree as wealthy homeowners.

Recent Proposals to Change the Mortgage Interest Deduction

In November 2010, the co-chairs of the National Commission of Fiscal Responsibility and Reform issued a draft report containing a suggestion to reform the home mortgage interest tax deduction. The debt reduction draft report contains a modest change in the mortgage interest tax deduction. The proposal scales back mortgage interest deductions to eliminate interest on home equity loans and second homes, and it reduces the one million dollar limit on home mortgage interest deductions to $500,000.

In response to the above debt reduction draft report, House Resolution 25 was created on Jan. 6, 2011 by California Republican Representative Gary Miller, seeking to extend the mortgage interest deduction. The extension was drafted with American homeowners in mind. Approximately 67 percent of Americans are homeowners. The home mortgage interest deduction is one of their biggest deductions and saves taxpayers thousands of dollars every year. In addition to the tax saving, many feel that now is not the time to remove the tax deduction on mortgage interest because of how it would affect the already fragile housing market.

 
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Posted by on January 12, 2012 in Uncategorized

 

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Top 10 Tips to Help Prevent Theft and Break-Ins

Home Security Tip 10: Don’t Showboat

Leaving certain things lying around your yard or in plain sight from the road can unwittingly lure thieves onto your property like frantic bargain hunters to a flea market. First, if you have a bicycle or scooter that someone could easy to walk away with, roll it inside or into your garage.

Also, after purchasing a new plasma screen television or other pricey electronics or appliance, don’t leave the box out beside the trash can or recycling bin. That tells people you have something brand spanking new that could fetch decent dollars on the street. It may also leave them wondering what other goodies are inside your home.

You may also be showing off too much to people walking by your house as well. Open up your curtains, blinds or shades and stroll around the house and see what’s visible. If you have a number of expensive items within plain sight or near windows, think about doing a minor redesign to move them out of view.

Home Security Tip 9: Fake Them Out

If burglars can tell that someone is home, there’s a greater chance that they won’t attempt to break in. Remember, more break-ins occur during the day when many people are at work. For that reason, when you leave the house, create an illusion that someone’s still there.

You can leave a light on, along with music or your television for good measure. Of course, if you’re going to be burning up that electricity by not turning off lights when you leave, make sure you’ve installed compact fluorescent bulbs that last longer and are better for the environment.

You can also mentally fake them out by putting a home security system sign in your yard. This won’t guarantee they won’t test out whether it’s valid, but it could deter them. According to the Office of Community Oriented Police Service, most residential thieves stay away from houses with such signs.

Home Security Tip 8: Secure Sliding Doors and Windows

You can easily break into some older sliding doors by simply popping them off of their frame, even when locked. It’s harder to do that with newer ones, but you should still take extra precaution to secure them since they can be an inviting entry for burglars. Simply take a strong dowel, steel bar or two-by-four and slide it into the back groove. That way, even if people can pick the lock, the rod stops the door from sliding back and opening.

Although you should always lock your windows before leaving the house, you can install a simple pin or nail into to the frame to stop it from raising more than a few inches. This will add an additional layer of security in case someone pops off the screen and you have left the window unlocked. If you have a wooden window frame, you can drill a hole at your desired height above the sash, where the top and bottom window meet. Then, insert a thick metal pin or a sturdy nail into the hole. You can remove the stopper if you want to open the window completely and put it back in for security.

Also remember to check window air conditioning units. If you can jimmy the window up from the outside, add a stopper to that frame.

Home Security Tip 7: Don’t Leave a Spare Key Out

It may seem like a good idea to leave a spare key hidden under a flower pot or doormat in case you get locked out of your house. But that’s an open invitation for a burglar to walk inside without any difficulty. Someone could also see you retrieve the key at some point, giving away your hiding place.

Instead, give a spare to a neighbor you know well or friend who lives nearby for safekeeping. Since most people now own cell phones, if you lock yourself out you can call for help or walk over to the person’s house. You could also put the spare into a combination lockbox and hide that somewhere outside.

Remember to never put any identifying information on your house keys. If you lose them, and someone else finds them, it would be fairly easy to trace them back to your home and break in.

Home Security Tip 6: Secure Your Yard

Tall shrubs and overgrown trees are welcome hiding places for criminals to wait until the coast is clear to get into your house. That doesn’t mean you need to cut down every plant in your yard. Just keep things manicured. kids Low shrubs in front of windows remove additional covering for thieves if they attempt to break  in through one. Cut away any tall tree branches that reach upper story windows and protect against attacks from above. Regularly trimming larger bushes and tree branches also eliminates dark shadows that help hide intruders.

This type of security measure is referred to as Crime Prevention Through Environmental Design (CPTED). CPTD strategies aim to prevent crime by creating an outdoor environment that makes it difficult to pull off. Its 4 tenets are:

  1. Natural surveillance — keep entryways to your home visible to prevent people from being able to sneak up.
  2. Territorial reinforcement — using landscaping and design to define your territorial space.
  3. Natural Access Control — adding hindrances to easily access your property. For instance, grow holly bushes or other thorny shrubs around your house.
  4. Target Hardening — structural security, such as deadbolts and double-paned windows.

Home Security Tip 5: Get Police Help

Police can help you stop crime before it happens, rather than just responding to it. For instance, if you’re leaving town for a while, let the police know and request that they drive by your property to check on things.

Many police stations also offer free security evaluations for your property. If your local jurisdiction has a crime prevention officer, find out if he or she can survey your property and help you identify any security steps you can implement.

Take advantage of a recent trend in police practices called community policing. Community policing involves officers being assigned to neighborhood beats where they make a greater effort to build relationships with the residences. This may include walking instead of driving through or setting up community safety workshops. If the police in your area practice this, get to know the officers who patrol your neighborhood. Successful community policing has been linked to lowered crime and healthier neighborhoods and could lower the chances of break-ins.

Home Security Tip 4: Prepare Before Vacation

Residential crime spikes during July and August as people set off on summer vacations

As mentioned earlier, if you are going out of town for an extended period of time, call your local police and let them know. Also, alert neighbors you trust about your trip and ask that they keep an eye on your property during that time.

mailboxThis mailbox screams, “My owner isn’t home this week, so feel free to break in.”

More importantly, when you leave town, don’t leave signs of an empty house. That will only make your house look like a giant bulls-eye to a thief. First, if you have a home phone, don’t change your message to alert callers that you have left town. Also avoid having piled up mail, over grown lawns and newspapers strewn about your yard that send surefire signals you’re miles away.

Have a friend house sit or at least pick up your mail and newspapers. Ask them to move your car periodically to make it look like you’re still around. During the winter if you live in a cold weather climate, consider having someone shovel snow from your driveway. In the summers, arrange for someone to cut your lawn.

Home Security Tip 3: Know Your Neighbors

Getting to know the people you live around is one of the most important safety steps you can take.

Closer-knit neighborhoods generally report fewer break-ins

because strangers will stick out, and people are more likely to keep a casual eye on other people’s security. Neighborhood Watch Programs, started in the 1960s, can be very effective at lowering and preventing crime. According to the National Crime Prevention Council, more than 30 million people in the United States have joined these groups

. Studies have consistently found that watch programs effectively reduce crime and violence in neighborhoods. The National Sheriff’s Association oversees the nationwide watch group organization and offers a number of resources for starting and joining one.

If you rent a house or apartment, you have more incentive to get to know your community because renters are 85 percent more likely to experience a break-in

. This may be because renters aren’t as likely to watch out for one another or have any sort of community watch program.

Home Security Tip 2: Stay Vigilant!

Although it’s nice to know you have people watching out for you in your neighborhood, you also need to watch out for yourself. If you aren’t paying attention to what you’re doing, you could unknowingly be rolling out a red carpet for a burglar to waltz through your front door.

While it may seem like a symptom of paranoia, keep your identity and any travel plans on the down low.

For instance, only put your street address on your mailbox. Give away your last name, and someone could find your phone number, work place and a host of other stats with a few mouse clicks. Before you jet off to Bermuda, don’t talk about it openly in public because a sinister stranger could be taking note.

Educate yourself as well about crime in the area. Check the crime section in your local newspaper to see if your neighborhood has been hit recently. Also, local police stations, particularly in larger cities, have online crime maps that will show you precisely where reported incidents occurred around you. If you notice a lot of criminal activity, that’s your signal to pay extra attention to security. And always keep an eye out for suspicious activity in neighborhood. A little added effort can go a long way to protect your home and your safety.

Home Security Tip 1: Lock it Up

Locking windows and doors is the most important thing you can do to stop a break-in.

As mentioned earlier, more than 40 percent of break-ins happen without the use of force. That means a lot of people are leaving their houses without locking the doors and windows. If you have a thumb latch lock and a deadbolt on your doors, always lock the dead bolt. Double-check weaker doors such as patio and sliding ones to make sure their locks are strong enough to withstand kicks. When you leave your home, don’t forget to lock up the door leading from the garage to inside. Even if your garage door is down, someone can easily open it.

The G-Team, your Maryland Real Estate Connection: We are located in Millersville, Maryland between Baltimore and Annapolis in Anne Arundel County convenient to Fort Meade. We also service Howard & Queen Anne’s Counties and central Maryland. Whether you are BUYING, SELLING or RELOCATING,  we can HELP.

 
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Posted by on January 12, 2012 in Uncategorized

 

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Steps in Home Buying Process: Pre-Approval for Home Loan

Pre-approval is one of the most important steps in the home buying process. You should apply for a loan and receive approval from a lender before searching for a home.

Here are some reasons why being approved at the beginning of the home buying process is so important:

1. Pre-approval for a home loan will determine your price range. Based on your down payment and that pre-approved mortgage amount, you’ll know what you can afford before you start looking. This saves you time and allows you to focus on houses that you can actually purchase.

2. Pre-approval strengthens your offer and negotiating position. Home sellers tend to accept an offer from a buyer who is pre-approved for a home loan over someone whose financial picture is still in question.

3. Pre-approval often cuts days or even weeks when you close. The lender has already analyzed your credit and approved you for a mortgage.

What is the difference between being pre-approved and pre-qualified?

There is actually a big difference between buyers who are ôpre-qualifiedö and those who are pre-approved. Lenders pre-qualify buyers and determine how much they can borrow based only on information the buyer has provided. The buyer still must fill out a loan application and go through the lender’s approval process. If you are pre-approved, lenders have already done a credit check and verified employment and deposit. Pre-approval is a commitment to lend you a predetermined amount. The only piece missing is the lender’s appraisal of the home to confirm its value.

How long should a pre-approval for home loan take?

If you are dealing with an experienced mortgage representative who uses an automated approval system, it should only take a few minutes to get a pre-approval. However, if your lender is not using the most up-to-date automated systems, pre-approval for a home loan could take a few days. The automated system takes all of your income, debt and asset information and enters it into their computer. The pre-approval process is usually pretty fast as long as the loan officer is certified to use the DU underwriting system (automated underwriting). The final loan approval comes once you have an actual property and then the lender re-verifies all of the property, income, debt and asset information.

What happens if I change jobs after getting pre-approval for a home loan? Do I have to go through the process again?

Unfortunately, the answer is usually yes. Your pre-approval is good as long as none of the information provided to the lender changes. You will need to notify the company that pre-approved you that your employment status has changed. They will have to enter your new income data. The good news is that if you took a new job that pays more, you might be able to afford a larger house.

What happens if I decide to work for myself after getting pre-approval for a home loan?

There will be complications when going from W-2 employee to 1099 or Schedule C income. You will probably need a two-year history of self-employment to qualify with that income. In this instance, you might want to ask

The G-Team, your Maryland Real Estate Connection: We are located in Millersville, Maryland between Baltimore and Annapolis in Anne Arundel County convenient to Fort Meade. We also service Howard & Queen Anne’s Counties and central Maryland. Whether you are BUYING, SELLING or RELOCATING,  we can HELP.

your lender about undocumented home loans.

 

 
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Posted by on January 8, 2012 in Uncategorized

 

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Maryland Market Report

The number of homes sold in November of 2011 in the Baltimore Metro region, was 1,626 which which is 15 more homes than in October 2011.

Approximately one out of every 4 homes sold in November 2011 was either a short sale or a bank-owned property (REO).

The number of properties under contract during the month of November 2011 in the Baltimore Metro area was 2,078 – slightly less than in October of this year (2,210) and about 10% more when compared to November of 2010.

Of the newly pending listings, 429 were maintained by short sale realtors and 316 were bank-owned. In total, about one third of all newly pending listings were distressed homes.

November 2011 also saw 2,500 new listings come on the market. Just a month earlier, 3,247 homes became active and 3,161 in November 2010. Of the newly active listings, 357 were short sales and 242 were REOs.

Together, short sale listings and bank-owned properties made up approximately 24% of all new homes available for sale. We can expect this trend to continue as more and more homeowners find themselves unable to maintain their mortgage payments and opt out to do a short sale or, unfortunately, simply walk away from their homes.

The average sold price in the Baltimore Metro during November 2011 was $259,355 – a very slight increase (1%) compared to previous year and October of this year.

Out of the six jurisdictions that make up the Baltimore Metro area, Baltimore County was the big winner in terms of closed units compared to previous year – an increase of 7 percent. Harford County, on the other hand, saw a decline of nearly 10 percent in the number of closed transactions compared to 2010.

Baltimore City inched closer to potential stabilization with a slight decrease (4%) in sales compared to last year and a nice jump (8%) compared to October 2011. Furthermore, Baltimore City saw its median sold price increase by almost 23% from November of last year and by over 13% from October 2011.

 

Search all Maryland Properties

 

The G-Team your Maryland Real Estate Connection: We are convenient to Fort Meade and provide Service to Anne Arundel, Howard, Queen Anne’s Counties and Central Maryland. Our team provides experience, integrity and solutions in short sales, pre-foreclosures, Reos, buyers and sellers. We offer free consultations on property value, home sales, home purchases and relocation.

 

Source: Short Sale My Home Maryland

 
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Posted by on January 3, 2012 in Uncategorized

 

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Top 10 Selling Mistakes

Serious about selling your home? Before you sign anything, read about these common mistakes that home sellers make:

1. PRICING TOO HIGH: It’s no secret, price is everything. Overpricing does more to discourage buyers than any other single factor. When you overprice, you put your home in competition with homes that may be newer, larger or have more amenities than yours. You help your competition sell their home. This leads to long days on the market, and costs you, the seller, money in the long run. Make sure you get your pricing advice from a professional agent who knows the market.

 2. POOR CONDITION: A home that is in ill repair, or otherwise poor condition, does not excite buyers. A home like this is looked at by buyers as a work project and money pit. Having your home in good repair and great showing condition will significantly improve your chances for a sale at top dollar value. Having your home pre-inspected by a termite and dry rot inspector will also have a positive impact on buyers.

3. POOR CURB APPEAL: Most buyers today want to drive by. If your home is an attractive drive-by, it will gain more attention and certainly more showings. Doing the little things to help your home’s curb appeal will make a huge difference.

4. DREARY DARK HOMES DON’T SELL: Buyers like updated, light and bright homes. Dark carpets, paint, and curtains are often buyer turn-offs. Go through your home and remove clutter; touch up and update paint, counter tops, and carpets. Open your home up and make sure the sun shines in. Offensive odors from pets and smoking are also huge turn-offs to most buyers. Rid your home of offensive smells by burning scented candles and create a pleasant aroma. The most important rooms to concentrate on are the living room, family room, kitchen and master bedroom. Your entire home’s atmosphere is set off by these rooms.

5. DON’T OVER-IMPROVE: Get your home in good showing condition, but don’t over do it. Huge projects such as complete remodels of kitchens, adding decks, and expanding room sizes may not pay back your investment. Before you jump into a huge improvement project, get some good advice.

6. BE FINANCEABLE: Bad roofs, exterior paint, or structural problems may make your home un-financeable. The wider the scope of financing that your home can qualify for, the higher the overall market value. Remember — government programs like VA and FHA will be the most picky.

7. GET GOOD ADVICE AND GOOD MARKET EXPOSURE: Hiring a professional agent will help you get your home priced right, and will also get you started with the best fix ups. A strong agent will get your home exposed to the largest number of potential buyers. Paying the agent fee is often the least expensive part of selling your home. Trying to sell your home yourself can be costly. Most ‘for sale by owner’ homes close for less than comparable homes listed with an agent, and you have no representation.

8. DON’T BE PRESENT DURING SHOWINGS: When your home is being shown, go for a drive or a walk. Take yourself, your family, and pets and let the agent and their clients have the freedom they need. An agent can always do their best job of showing your home when you are not underfoot. Buyers are more at ease and much more likely to spend time looking at your home’s features and benefits.

9. LET YOUR AGENT DO THE NEGOTIATING: If there is ever a good reason to have a veteran agent working for you, it’s during the negotiation of your home sale. A good negotiator can mean thousands of dollars to you, and will protect your interests. Don’t let your emotions run wild during negotiations. Try to separate your emotions from your business side. Remain cool and calm during this time.

10. ACT FAST WITH OFFERS: When you do get an offer on your home, act quickly and decisively. Letting offers sit around without acting can be a huge mistake. Things can change quickly in the mind of a prospective buyer. Acting quickly while the excitement and interest level are at a high point can be very important. Typically, a buyer’s motivation level decreases with time. Buyers’ remorse can even set in. Acting in a timely manner is essential.

If you have any questions about selling your home in MARYLAND…. CLICK HERE TO CONTACT US.

 
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Posted by on December 29, 2011 in Uncategorized

 

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Severna Park Maryland Real Estate News

Severna Park MD Real Estate for the week of December 12th, 2011: homes priced around $523,939 compared to $533,052 the previous week, showing a decrease of less than -2%.  For Saturday, December 17th, the current national mortgage rate for a 30 year fixed mortgage is 3.96%; the 15 year fixed rate is at 3.29%. For a loan larger than conventional conforming loans, or ‘jumbo’ loan,  the 30 year rate is 4.70%, while the 15 year jumbo rate currently is at 4.00%. You can calculate your mortgage rate with our mortgage calculators.  Get local info and homes for sale in Severna Park MD. View active real estate listings for different types of properties including new homes, houses for sale, foreclosures in Severna Park, short sales, and price reduced listings. Find information and property resources including prices of recently sold homes in Severna Park, Severna Park neighborhood information, crime stats, home values, and schools in Severna Park to help you find the best home!    Search for homes in Maryland

 
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Posted by on December 18, 2011 in Uncategorized

 

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