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DeHanas Earns Elite Designation

by DeHanas Real Estate

Don DeHanas, Associate Broker and Realtor with DeHanas Real Estate Services in Waldorf has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the national Association of Realtors.

 

Realtors who receive the CRS Designation have completed advanced courses and have demonstrated professional expertise in the field of residential real estate. Fewer than 38,000 Realtors nationwide have earned this credential, which places DeHanas amongst an elite group of real estate professionals.

 

Home buyers and sellers can be assured that CRS Designees subscribe to the strict Realtor Code of Ethics, have access to the latest technology and are specialists in helping clients maximize profits and minimize costs when buying and selling a home.

 

DeHanas is a member of the National Association of Realtors, the Maryland Association of Realtors, and the Southern Maryland Association of Realtors. In addition, he is also a recognized as a real estate Star in the Star Power System, an educational and motivational organization of real estate professionals and best business practices.  DeHanas has earned his designation as a Certified Distressed Property Expert (CDPE), and is a Graduate of the Realtor Institute (GRI).

 

DeHanas Real Estate Services is family owned and operated and located in Waldorf, serving residential home buyers and sellers, landlords, renters and investors.

New Home Builders in Charles County Promote Irresistible Offers

by Don DeHanas, Associate Broker

The housing crisis may have put a damper on esisting home sales, but new home builders have found a way to compete in a very big way. And the homebuyers pockets are feeling all of the benefits!

Many of my clients who compare existing home sale with new home consrtuction are finding that it costs less to buy new than it does to buy existing.  Recently, some builders have become very agressive in the offers they provide to home buyers in order to attract the business and keep their companies profitable.  They are not only doing this by offering low prices, but also financing that is more attractive than most banks are offering.

The larger builders like Lennar Homes have their own financing companies and their own money to loan.  Recently Lenna Homes in the Waldorf, MD community of Glen Eagles, a subdivision of Fairway Village has been offering interest rates of 4%, all closing costs paid and free finished rec rooms as part of their incentive package.  With prices starting from the high $200s for a single family home it makes more sense to buy than it does to rent.  in fact, rental prices for comparable homes are higher than the average martgage payment, which also makes for a great investment property.

Another noteworthy builder-offer in the area is Berkshire Homes, now building in the Villages of Steeple Chase in La Plata.  Berkshire is offering No money down, all closing paid and monthly mortgage rates starting at $1371 per month for a 2 bedroom, 2-level town home.  You definetly cannot get into a rental home at this price.  Along with a community center, swimming pool, fitness center and nature trails, buying a new home in Steeple Chase is a no brainer for the homebuyer or renter who has little or no money to buy/rent.

It should also be noted these builders are Realtor-friendly, and allow Realtor representation at no cost the the homebuyer.  Fore more information on area builders, or to schedule an appointment with a builder, please call our office at 301-870-1717 x106.

Foreclosures Going Up

by Don DeHanas, Associate Broker

 

New statistics from mortgage data collector, Realtytrac, have come out with news about the future rate of foreclosures that has not surprised some forecasters.

Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to pale in comparison, the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a Foreclosure listing service.

"That would be unprecedented," said Rick Sharga, a senior vice president at RealtyTrac.

By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said.

The surge in home repossessions remains a crippling drag on the housing market.

The pace at which new homes falling behind in payments and entering the Foreclosure process has slowed as banks continue to let delinquent borrowers stay longer in their homes rather than adding to the glut of foreclosed properties on the market. At the same time, lenders have stepped up repossessions in an effort to clear out the backlog of distressed inventory on their books.

The number of households facing Foreclosure in the first half of the year climbed 8 percent versus the same period last year, but dropped 5 percent from the last six months of 2009, according to RealtyTrac, which tracks notices for defaults, scheduled home auctions and home repossessions.

In all, about 1.7 million homeowners received a Foreclosure-related warning between January and June. That translates to one in 78 U.S. homes.

Foreclosure notices posted monthly declines in April, May and June, but Sharga said one shouldn't read too much into that.

"The banks are really sort of controlling or managing the dial on how fast these things get processed so they can ultimately manage the inventory of distressed assets on the market," he said.

On average, it takes about 15 months for a home loan to go from being 30 days late to the property being foreclosed and sold, according to Lender Processing Services Inc., which tracks mortgages.

Assuming the U.S. economy doesn't worsen, aggravating the Foreclosure crisis, Sharga projects it will take lenders through 2013 to resolve the backlog of distressed properties that have on their books right now.

And a new wave of foreclosures could be coming in the second half of the year, especially if the unemployment rate remains high, mortgage-assistance programs fail, and the economy doesn't improve fast enough to lift home sales.

The prospect of lenders taking over more than a million homes this year is likely to push housing values down, experts say.

Foreclosed homes are typically sold at steep discounts, lowering the value of surrounding properties. 

The Federal Governments most recent Foreclosure Alternative initiative directs homeowners to act responsibly by attepmting to short sale their home with a local Realtor.  Fore more information on the short sale process, call DeHanas Real Estate Services at 301-870-1717 x106.

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The DeHanas Team
DeHanas Real Estate Services
1218 Smallwood Drive
Waldorf MD 20603
Office: 301-870-1717
1-800-842-0190
Fax: 240-754-7867

Servicing all Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro areas of Maryland, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County real estate advertised in this website are subject to the Federal Fair Housing Act of 1968 which makes it illegal to advertise any preference, limitation, or discrimination based on race, color, religion, sex, handicap and familial status, or national origin, or any intention to make any such preference, limitation or discrimination. DeHanas Real Estate Services will not knowingly accept any listing agreement for real estate sales in Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater MD, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County areas which are in violation of the law. Our clients and customers are informed that all dwellings advertised on our website in Anne Arundel County, Calvert County, Charles County, and Prince George's County as well as Annapolis, Bowie, Chesapeake Beach, Crofton, Dunkirk, Edgewater MD, Ft. Meade, Huntingtown, La Plata, North Beach, Odenton, Owings, Pasadena, Severn, Waldorf, and the Upper Marlboro, all of Washington DC, and Northern Virginia, including Alexandria, Arlington, and King George County areas are available on an equal opportunity basis. All prices and finance claims appearing in this site are subject to change without notice.