Ramblings of a Baltimore area Realtor

Even after the bailout was agreed upon the stock market continues to be on a roller coaster ride with the Dow closing down again this week.  The upheavle in the financial market continues and home buyer's and seller's alike seem to be paralyzed by fear.  Do we try to sell our house?  Do we try to hold on?  Do we buy now or wait?  I've heard homeowners talking about the Deed in Lieu of Foreclosure option more this week than over the last year.  So many choices to choose from.  The Baltimore Sun reports this week that resale numbers are up for the first time since the beginning of the rise in the market several years ago.  Thoughts are straying to Halloween next week and the holidays after that.  The market remains fairly stable with some increases in sales with the drops in interest rates, and a few more buyers searching for their first or next home.  I'm surprised I'm not seeing more individuals making the decision to buy with so many great deals available.  The weather has started to cool down with moderate days and cool nights and people are thinking about the end of summer and back to school and I think this may be having some cooling effect on the number of home buyers looking for new homes.  The number of new listings has increased slightly and the number of homes going under contract has also increased.  The numbers show a slowing in the market over all compared to this time last year.    It will be interesting to see how this all changes with the changes in the FHA and Jumbo loan limits and adjustments in the interest rates.  Overall, it's still a great time to buy.

These figures are taken directly from our MRIS system and are believed to be accurate.

Glen Burnie, MD

New Listings       15 (decrease 3 from last week)          

Under Contract    5 (decrease 3 over last week)

Settled Sales      5 (no change from last week)

Anne Arundel County

New Listings        148 (decrease 23 from last week)         

Under Contract     58 (increase of 3 over last week)

Settled Sales        42 (increase of 9 over last week)

Glen Burnie offers many affordable housing opportunities for those relocating to Ft. Meade and Annapolis.  Glen Burnie is located north on 97 from rt 50 or north on Rt. 2 from Annapolis Naval Academy and east along 32 and north on 97 from Ft. Meade.  It is a relatively easy commute from either base and only a couple short miles from the Curtis Bay Coast Guard Station too, as well as being commutable to DC whether you ride the MARC from Odenton or drive.

If you are thinking of buying or selling a home give me a call today and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling.  If you are considering buying a home, there is no better time than now to buy.  The tax savings and wealth building a lone is worth the plunge into todays market.

June Piper-Brandon, Broker - Advance Realty - http://www.gb-advancerealtyusa.com/ or http://www.homesdatabase.com/junepiperbrandon

When requesting to your lender to accept a short sale on your home, there are 3 categories of items that you will likely need to get put together. Financial information, hardship information and property information.

Lets start with what you will need on the financial list

Financial Information

• Three most recent bank statements for all checking and savings accounts for all borrowers
• W2s for the past 2 years for all borrowers
• Income tax returns from the past 2 years for all borrowers 
• Past three paycheck stubs for all borrowers
• And copies of all bills within the past 2 months from all borrowers.  These will be used to put together a financial worksheet.  These could include; car loans, alimony/child support, child care bills, credit card bills, utility bills, phone and cell phone bills, cable, insurance, medical bills, food/groceries, gas, student loans etc.

Hardship Information

• Hardship letter that describes exactly why the homeowners were unable to make their payments.  The homeowner must write the hardship letter.
• Documentation that proves the hardship, which could include hospital bills, medical bills, home repair bills, unemployment, incarceration, death certificate, divorce decree etc.

Property Information

• Information about any other liens on home if any.  The homeowner might have this information, ask them if they have a recent credit report. 
• A recent Comparative Market Analysis
• Estimated HUD-1 
• Estimates for necessary repairs for the home
• Most recent property tax bill and proof of payment status
• Proof of homeowners insurance coverage

Lender Information

• Monthly statements from the first and second mortgage holder
• Name of supervisor in Loss Mitigation Department with direct phone number
• Short sale application from the mortgagor
• Written authorization from the homeowner for the Realtor to speak to the mortgage company on their behalf. 

Other Important Stuff

• If the homeowner has filed for bankruptcy, you'll also need the name and number of the attorney and permission to speak to them
• And, if the homeowner is involved in a law suit, you will also need the name and number for the attorney and permission to speak to them
• You will also need lots of patience and understanding

Short sales take a long time to process but if you have all the information you need before you get started it really helps to shorten the processing time.  Remember that homeowners did not get in this situation over night and it will take just as long or longer to help them through the process.  You need patience and understanding to help deal with homeowners that are on an emotional roller coaster and quite often embarrassed about their financial situation.

Fall is the perfect time to plant a tree-during the dormant season after the leaves begin to drop. The cooler weather allows trees to establish roots before winter arrives and before the ground freezes.  Trees help keep our planet green and healthy and provide for food and shelter for other living beings too.

Join Baltimore City Department of Recreation and Parks for the Annual FREE Fall Tree Giveaway. Pick up a FREE American Sycamore or Eastern Redbud to plant in your front or back yard.

FREE trees will be available on Saturday, Oct. 25th from 9 a.m. until noon at the
following location:

Herring Run Park (Hall Spring)
3700 Harford Road, Baltimore, MD 21206

One of the most important things you can do once you take your tree home is to get it into the ground as soon as possible and water it well.  Mulch around the tree trunk can invite disease, so be sure when you mulch to leave space between the mulch and the trunk of the tree.

FREE trees will be available on a first-come, first-served basis, while supplies last. Two per
household.

Planting a tree is a lifelong investment. As your family grows, your tree will grow. Planting a tree also has environmental and economical benefits including reducing utility bills by up to 30 percent, increasing property values, and improving air and water quality. Planting a tree is a lifelong investment. As your family grows, your tree will grow. Planting a tree also has environmental and economical benefits including reducing utility bills by up to 30 percent, increasing property values, and improving air and water quality.


For more information on TreeBaltimore or the Annual FREE Fall Tree
Giveaway, please call (410) 396-7900.

If you are thinking about buying or selling your home in the Baltimore or surrounding area, call Advance Realty first and we'll be happy to give you a free market analysis based on our many years of experience and knowledge of the market in your area. 

June Piper-Brandon, Broker - Advance Realty Anne Arundel  -  410-761-1550

What a great website.  I thought I knew where all the Dunkin Donuts, Starbucks, McDonald's and Pizza Huts were!!  But, even I can't know everything.  What a great tool!!

June Piper-Brandon, Advance Realty Anne Arundel

Baltimore, Maryland real estate news - real estate is local!!  Even though I'm reposting Crossville, Tennessee the blog is still relevant.  Real estate is local. 

For a free consultation / sit down with a cup of coffee at my office - feel free to contact me.

June Piper-Brandon, Advance Realty

410-761-1550

Even after the bailout was agreed upon the stock market continues to be on a roller coaster ride.  This week we've seen more of the same upheavle in the financial market that home buyer's and seller's alike seem to be paralyzed by fear.  Do we try to sell our house?  Do we try to hold on?  Do we buy now or wait?  I've heard homeowners talking about the Deed in Lieu of Foreclosure option more this week than over the last year.  So many choices to choose from.  Thoughts are straying to Halloween and the holidays after that.  The market remains fairly stable with some increases in sales with the drops in interest rates, and a few more buyers searching for their first or next home.  I'm surprised I'm not seeing more individuals making the decision to buy with so many great deals available.  The weather has started to cool down with moderate days and cool nights and people are thinking about the end of summer and back to school and I think this may be having some cooling effect on the number of home buyers looking for new homes.  The number of new listings has increased slightly and the number of homes going under contract has also increased.  The numbers show a slowing in the market over all compared to this time last year.    It will be interesting to see how this all changes with the changes in the FHA and Jumbo loan limits and adjustments in the interest rates.  Overall, it's still a great time to buy.

These figures are taken directly from our MRIS system and are believed to be accurate.

Glen Burnie, MD

New Listings       18 (no change from last week)          

Under Contract    8 (decrease 1 over last week)

Settled Sales      5 (decrease of 1 from last week)

Anne Arundel County

New Listings        171 (decrease 21 from last week)         

Under Contract     55 (decrease of 10 over last week)

Settled Sales        33 (decrease of 2 over last week)

Glen Burnie offers many affordable housing opportunities for those relocating to Ft. Meade and Annapolis.  Glen Burnie is located north on 97 from rt 50 or north on Rt. 2 from Annapolis Naval Academy and east along 32 and north on 97 from Ft. Meade.  It is a relatively easy commute from either base and only a couple short miles from the Curtis Bay Coast Guard Station too, as well as being commutable to DC whether you ride the MARC from Odenton or drive.

If you are thinking of buying or selling a home give me a call today and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling.  If you are considering buying a home, there is no better time than now to buy.  The tax savings and wealth building a lone is worth the plunge into todays market.

June Piper-Brandon, Broker - Advance Realty - http://www.gb-advancerealtyusa.com/ or http://www.homesdatabase.com/junepiperbrandon

Baltimore is a great city to live in or near.  There are lots of things to do, lots of places to go and lots of things to see. 

However, in the current economic times things usually cost money, and everyone is tightening their economic belts and trying to conserve what they already have or only spending their sparse incomes on what they really need. 

Baltimore has a solution to the tightening economic belt.  You can still go out and have a good time and visit some of the many museum's, plays, musical productions, and sights without having to spend a dime. 

For the month of October many events have opened their doors to the public for no admission cost.  That's right, it's free!!

Just a few of the free things you can enjoy  are Maryland Science Centre (special times), Port Discovery (special time), Baltimore Clayworks, Baltimore Museum of Art, Spotlighters Theatre, Baltimore Streetcar Museum, Centerstage, Baltimore Chamber Orchestra and all year round you can visit the Walters Art Museum.  There are many other opportunities too, just visit Freefall Baltimore for more details.  Many of these events are kid friendly, so take the whole family and enjoy the day and enjoy some of the many attractions that Baltimore has to offer.

Then think about making Baltimore your next port of call for buying a home and you can enjoy these activities more often!!

Thinking about buying or selling a home?  Advance Realty Anne Arundel is a full service real estate brokerage with agents covering all corners of Maryland.  Give us a call today and take your real estate experience to the next level.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

I got a call from a lady in Atlanta, Ga this morning asking about housing in the Baltimore area.  She was looking for a two bedroom house and was concerned about the climate and the job rate and the number of available service type jobs.  I see help wanted signs everywhere when I'm out.  The classified section in the newspaper always has lots of jobs in it, and the section on Sunday is huge.  The statistics that we hear about in the news is very good, our unemployment rate is very low, one of the lowest in the country.  So, I never really thought much about poverty in Maryland. 

I looked a little deeper.  The unemployment rate only calculates the rate for people who are still actively looking for work.  It does not take into account those who are not working and who have given up looking for suitable employment. 

I started researching this morning about poverty.  The world bank defines poverty as follows:

• Lack of shelter
• Being sick and not being able to see a doctor
• Not having access to school and not being able to read
• Not having a job
• Fear for the future
• Living one day at a time
• Losing a child to illness brought about by unclean water
• Powerlessness
• Lack of representation
• Lack of freedom

The poverty level in the United States is $10,787 a year for a single person under age 65 and $21027 for a family of 4.  I think about the average rental price and how you are only supposed to spend 25% of your income on shelter.  That would mean the family of 4 should only be spending $438.07 a month on rent or mortgage and that single person has a budget of $224.73 for housing a month.  What kind of house can you get for that amount of money?  A family of four can afford a house priced under $62,900, of which there are only 29 to choose from, most of which need some work and a single person can afford only 1 home but it needs work.  Statistics show that 37% of households can not afford rental units in Maryland.  In the state's most affordable housing market the minimum wage earner has to work 80 hours a week to afford the rent. 

And, according to the Maryland Food Bank, 45% of the people receiving food assistance report having to choose between buying food and paying for heat and utilities. 

These statistics are staggering. 

Yet, I still see commercials on television asking for people to support hunger and poverty in third world countries.  Why aren't we following the old saying "Charity begins at home"?  Did you know that Americans donate an estimated $3.4 billion annually to international aid? 

Why isn't some of that redirected back into our own country to help those living in poverty here?  Or do Americans just assume that we live in the land of plenty and turn a blind eye to the poverty that is occurring here at home?

Statistics can be skewed to say anything the person choosing the parameters wants them to say.  Just as in politics the polls can be made to say anything if you choose the right parameters.  But the facts speak for themselves, 1 in 10 children in the state of Maryland lives in poverty.  And Maryland has the second lowest overall poverty level in the nation.  What does that say about the rest of the country?

Wake up and look at the statistics in your neighborhood, and, before you donate to international aid perhaps you should seek out the local agencies that need the assistance more than a third world country. 

We are in the business of providing housing for the people of our community, don't forget those people who live in poverty need a home too.  Remember the American Dream is owning a home of your own, those people making $21000 a year are no less deserving than those that make over the median income level of $55,000. 

June Piper-Brandon, Broker - Advance Realty Anne Arundel 

All across the United States of America today, October 14, 2008, is the deadline to register to vote. 

For more information about how to register to vote, especially if you are not a resident of Maryland.  This is a great website that has many answers to your questions. 

If you have not registered to vote yet, you click here to download the registration form and for instructions.  Applications must be postmarked today or dropped off at local boards of elections today.  For a list of local boards of elections click here. 

Voting is the only way you can let your voice be heard.  This year, more than any year past, it is important for everyone to register to vote.  The only way to bring about change is to change and vote. 

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

I thought I had seen it all until this morning.  I was driving to the office, which is about 38 miles each way for me.  I'm driving on I-97 waiting for the car in the right lane to move out of my way so I can change lanes and merge onto the exit ramp to go to the office.  Every time I slowed up this car would slow up, I'd speed up so would she.  I finally looked over and she's flossing her teeth with both hands and driving her car. 

There has been such a big deal made over people talking on their cell phones while driving and not making use of the hands free facilities that so many cell phone providers offer, but this is the first time I have seen someone flossing their teeth while driving.  I don't know about you but flossing usually requires you to use both hands.  How was she steering the car?

In the spring my family and I were involved in an accident where the driver had been talking on his cell phone and dropped it.  He lost control of his vehicle and hit our car and totalled his. 

Yet, you still see people driving down the road, applying makeup, shaving, eating and many accidents are caused by these people who are not in control of their vehicles.  Every yearpeople are injured and killed because of careless drivers.  I know as Realtors we are often forced to multi task and eat on the run.  Would it kill us to take a few extra minutes and not try to cram so much into our every day to not floss and drive or put on our makeup and drive?  It might well save our life and someone else's if we do take a few extra minutes. 

June Piper-Brandon, Broker - Advance Realty Anne Arundel