Miller has lived in various parts of Maryland during his lifetime. He is currently an active resident of Calvert County, where he has lived for over 10 years. John began his career in retail sales where he learned firsthand to, "treat your customers as if they were YOU”, and your customers will happily return and refer others. With this attitude ingrained in his work ethic, John earned numerous awards as a top salesperson and the support and sincere gratitude of many.  Wanting to branch out and become more involved in helping others, he went on to become a Firefighter/Paramedic and also takes great pride in helping his “neighbors” as a volunteer Paramedic for Calvert Advanced Life Support.  In his spare time he also teaches Paramedic classes to prospective medical students at Prince George's Community College. John’s desire to extend his excellent service commitments to those looking to buy or sell in this wonderful area is exceeded by no one. He will provide a level of service to each and every client that will make the process as effortless as possible.

DeHanas Real Estate Services is family owned and operated. DeHanas Real Estate is licensed in Washington DC, Maryland and Virginia, and specializes in residential sales, new construction, foreclosure, short sales and property management.

In an announcemebt by the Department of Housing and Urban Developement today, HUD has said it has created new minimum standards for buyers purchasing homes using an FHA guaranteed loan. More money will be required by buyers in order to purchase a home. The following press release was published on HUD's website this morning. Many see this as a slap in the face to homebuyers and sellers while the housing market is still in trouble.

New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities

1. Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending
   • The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that the FHA can charge.
   • If this authority is granted, then the second step will be to shift some of the premium increase from the up-front MIP to the annual MIP.
   • This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual MIP is paid over the life of the loan instead of at the time of closing
   • The initial up-front increase is included in a Mortgagee Letter to be released tomorrow, January 21st, and will go into effect in the spring.
     
     
2. Update the combination of FICO scores and down payments for new borrowers.
   • New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.
   • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
   • This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.
     
     
3. Reduce allowable seller concessions from 6% to 3%
   • The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions.
   • This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.
     
     
4. Increase enforcement on FHA lenders
   • Publicly report lender performance rankings to complement currently available Neighborhood Watch data - Will be available on the HUD website on February 1.
     • This is an operational change to make information more user-friendly and hold lenders more accountable; it does not require new regulatory action as Neighborhood Watch data is currently publicly available.
   • Enhance monitoring of lender performance and compliance with FHA guidelines and standards.
     • Implement Credit Watch termination through lender underwriting ID in addition to originating ID.
     • This change is included in a Mortgagee Letter to be released tomorrow, January 21st, and is effective immediately.
   • Implement statutory authority through regulation of section 256 of the National Housing Act to enforce indemnification provisions for lenders using delegated insuring process
     • Specifications of this change will be posted in March, and after a notice and comment period, would go into effect in early summer.
   • HUD is pursuing legislative authority to increase enforcement on FHA lenders. Specific authority includes:
     • Amendment of section 256 of the National Housing Act to apply indemnification provisions to all Direct Endorsement lenders. This would require all approved mortgagees to assume liability for all of the loans that they originate and underwrite
     • Legislative authority permitting HUD maximum flexibility to establish separate "areas" for purposes of review and termination under the Credit Watch initiative. This would provide authority to withdraw originating and underwriting approval for a lender nationwide on the basis of the performance of its regional branches

If you are a military homeowner, and you have been given orders to move you may be eligible for a program designed specifically for you. The American Recovery and Reinvestment Act includes a provision to help Military homeowners in this situation. By expanding the existing authority under the Department of Defense’s Homeowner Assistance Program (HAP), the federal government will now cover a percentage of a loss if a service member is forced to sell.

The program applies to Members of the Armed Forces who purchased their homes prior to July 1, 2006 and whose reassignment, through a PCS of 50 miles or more was ordered between February 1, 2006 and September 30, 2012.

The sellers responsibility is to have the home aggressively marketed, and be able to demonstrate they sold the home at current fair market value. Realtors who are familiar with this program will document all marketing and advertising, show a log of MLS listings and pricing history, provide detailed showing activity including prospective buyer feedback, and provide comparable sales to support the sales price.

Under this program the government pays all of the normal selling fees, including Realtor fees.

In rare cases the government will purchase the property for 75% of the purchase price, or the mortgage payoff amount. Provisions for this program also include, for most properties, the home must have been marketed for at least 120 days before being considered for government purchase.

For more information, or a HAP application, contact Don DeHanas at DeHanas Real Estate Services at 301-870-1717 x106.  DeHanas Real Estate Services is family owned and operated and serves clients in Maryland, Virginia and Washington DC.

RISMEDIA, January 7, 2010—As we begin 2010, both real estate professionals and home buyers have something to look forward to and more importantly, take advantage of—the extended and expanded home buyer tax credit.

Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit.

To help everyone better understand the extended and expanded home buyer tax credit, here are some highlights of the changes.

Who can claim the credit?

“First-time home buyers” who purchase homes between November 7, 2009 and April 30, 2010 are eligible for the credit. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

For current homeowners purchasing a home during the same time frame, they are also eligible for a tax credit, so long as the home being sold or vacated was their principal residence for five consecutive years within the last eight. To elaborate, it must be the same home; it is not enough that they have been homeowners for five consecutive years, they must have been in the same home for five consecutive years.

Another key point is that the existing home does not need to be sold. One must, however, occupy the new home as a principal residence and do so for three years or risk recapture of the credit. Also, the new home does not need to cost more than the old home despite the concept that it is directed at “move up” buyers.

How much is the credit and what are the income limits?

The maximum allowable credit for first-time home buyers is $8,000 or 10% of the sales price, whichever is less. For current homeowners, it is $6,500 or 10% of the sale price, whichever is less. Under the extended home buyer tax credit, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum credit.

The credit decreases for single buyers who earn between $125,000 and $145,000 and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit deceases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income – over $145,000 for singles and over $245,000 for couples – are not eligible for the credit.

What are the deadlines for qualifying for the credit?

Under the extended home buyer tax credit, as long as a written binding contract to purchase a home is in effect on April 30, 2010, and the deal is closed by July 1, 2010, one can claim the credit.

Will the tax credit need to be repaid?

No, the buyer does not need to repay the tax credit if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale. Another provision of the law waives the recapture provisions for service members who receive orders that require them to move.

Are there any other critical provisions?

-There are three provisions people should be aware of:
-There is an $800,000 limitation on the cost of the home
-The purchaser must be at least 18 years old on the date of purchase
-For a married couple, only one spouse must meet this age requirement and dependents are not eligible to claim the credit

Finally, as an anti-fraud measure, purchasers must attach documentation of purchase to his/her tax return claiming the credit. Normally this would be a copy of the HUD-1, but could include other documents memorializing the settlement.

As with all tax matters, responsibility for complying with the tax code belongs to the taxpayer. Real estate professionals should recommend that their buyers consult their tax professionals to ensure eligibility for the credit and the proper way to claim the credit. For more information including the required IRS forms please contact the Internal Revenue Service at 800-829-1040.

The very next day, I heard President Obama call the bankers "fat cats" and saying "they just don't get it".  In yesterdays meeting with the President, several banks vowed to lend more money to small businesses, but I did not read anything regarding a pledge to help the ailing housing market. It was suggested by the President that the banks do more in the way of mortgage modifications, but I did not hear a "buy-in" from any of the bank leaders.

The banking industry has done more to hurt our economy and way of life over the last several years, and while I don't think some of the biggest offenders would falter much, the public is becoming increasingly angry with them, and they're bailing out of the banks altogether. I have heard of people canceling their accounts with banks because of what they have been doing, and quite possibly I would do the same if on-line banking wasn't so convenient. How realistic is it to give up banking altogether?

The unfortunate truth is that 'we the people' will have to continue to endure the unwanted discomfort and pain these bankers are putting us through. Or can enough of us take our business from some of the big players in an effort to make a statement and force some change?

I will always remember a quote I heard from International Educator & Motivator, Howard Brinton. And while it may not be his quote, he is the one I give credit to: "Change occurs when it is too painful to remain the same".

Some economists are predicting a "tsunami of foreclosures" to begin hitting this summer.....described as "a wave bigger than the last". Without any intervention by the banks, hundreds of thousands of Americans will loose their homes over the next several years.

I don't know if it would do any good, but if you think it is time for change to occur, please contact your elected officials and voice your concern.

“The final quarter of 2009 is proving to be an extremely good end to what started out to be a difficult year in real estate”, says Rachel DeHanas. “The extension of the tax credit as well as the added incentives for current homeowners who buy is certainly fueling our local home sales”, she added.

Don DeHanas has been accredited with the Certified Distressed Property Expert designation, and specializes in helping home sellers avoid foreclosure. “There are many families affected by the downturn in the economy, and a great many homeowners owe more on their homes than they are worth. Any number of unforeseen circumstances can cause a homeowner to quickly fall behind”, says DeHanas. “There are several ways to avoid foreclosure and salvage credit, including having your loan modified or short selling the property. It is not really as complicated as it is made out to be if you know what you are doing”, added DeHanas.

Stephen Nichols specializes in all aspects of residential resales as well as new construction. Many of his clients include investors and first time home buyers. He is licensed in Maryland, Washington DC and Virginia, and works as a full-time, full service Realtor.

DeHanas Real Estate Services is family owned and operated. The DeHanas Team has been serving Southern Maryland for nearly 30 years.

Waldorf, MD – 12/07/2009 – StarPower, the number-one brand in real estate education, announced a transition of leadership to Alex Charfen, a leading trainer, author, coach, speaker and StarPower Star. The announcement was made at Star Advance, the organization’s annual leadership meeting at The Ritz-Carlton, Lake Las Vegas in Henderson, Nevada.

“StarPower will remain the most relevant, recognized leader in real estate education,” Charfen said. “With the dedicated involvement of our StarPower Stars, the contributions to the advancement of the real estate industry and our success as an organization are assured.”

Founded by industry icon Howard Brinton, StarPower is an organization focused on elevating the standard of care in the real estate industry. Each month a new StarPower Star is selected based upon achievements in sales, leadership, business acumen and a willingness to share the lessons of their success with others. This has helped StarPower Stars typically average more than $35 million in annual sales volume and more than 200 transactions per year. Less than 300 real estate agents have achieved the distinction of StarPower Star, making it the most exclusive designation in the industry.

After news of the transition was presented at Star Advance, StarPower Stars Don DeHanas and business associate, Stephen Nichols of DeHanas Real Estate Services in Waldorf announced support of the new management and strategic direction of the StarPower brand.

“I couldn’t be more excited to be a part of the future of StarPower, and to increase our positive impact upon the real estate community,” DeHanas said.

“In the current economic climate, I have the opportunity to make a real difference in the personal and professional lives of countless real estate professionals,” DeHanas added. “As a StarPower Star and leader in my market, there is a responsibility to share the lessons of my success with others. In this way, StarPower Stars are actively improving the industry we have chosen to be a part of.”

DeHanas has been a Star Power Star for more than 10 years, working with the Star Power organization to educate real estate professionals all across the country. This was Nichols first experience with Star Power. “The entire event was extremely motivating. I feel even more empowered to take my customers and clients to the next level in customer service,” says Nichols. “I am looking forward with a continued relationship with the Star Power organization,” he added.

DeHanas Real Estate Services is family owned and operated, serving home buyers, and sellers in Maryland, Virginia and Washington DC. For more information, call DeHanas Real Estate Services at 301-870-1717 or toll free at 800-842-0190. Or visit the companys website at www.dehanas.com

For more than a year now Real Estate professionals have been trying to do the impossible!  To successfully negotiate through the jungle that is known as the banking "short sale process" towards a merciful end for our clients and to produce revenue for our real estate business... not to mention helping to clear the glut of short sales & foreclosures that are choking our Real Estate market and preventing it from stabilizing and becoming healthy again!   We can EVEN help the banks get what THEY want.... more money for toxic assets and smaller deficiencies!

I can assure you, these transactions have been FULL of headaches, not only for us the Real Estate professionals, but also the buyers and seller involved in the transactions.

The United States Treasury announced a new initiative to standardize and reform the banking short sale process.

Foreclosure Alternatives

The HAFA program simplifies and streamlines the use of short sale and DIL options by incorporating the following unique features:

1.  Complements HAMP by providing viable alternatives for borrowers who are HAMP eligible.

2.  Utilizes borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis.

3.  Allows the borrower to receive pre-approved short sale terms prior to the property listing.

4.  Prohibits the servicer from requiring, as a condition of approving the short sale, a reduction in the real estate commission agreed upon in the listing agreement.

5.  Requires that borrowers be fully released from future liability for the debt.

6.  Provides financial incentives to borrowers, servicers, and investors.

These are just a few of the "BIG IMPACT" changes that are scheduled to begin April 5th 2010 and end December 31, 2012. 

If you or someone you know is in a situation where they may lose their home, please have them contact me. I have earned my designation as a Certified Distressed Property Expert, and have successfully completed many short sale transactions. There are also other alternatives to foreclosure, which include loan modifications allowing you to keep your home. Call me today at 800-842-0190 x106 or 301-870-1717 x106

Dawn Bush is a licensed Realtor and has nearly 20 years of sales experience. Dawn specializes in first-time home buyers, helping them to achieve the American dream for little to no money out of pocket. Thinking of a new home, Dawn can negotiate you a one-of-a-kind price that will knock your socks off. With so many homes going into foreclosure, you may be concerned about your options as a homeowner or homebuyer. Dawn will show you how to protect your interest while securing your financial future. She has been awarded top sales person for many years and puts her negotiating skills to work for you. Dawn has been trained by Johnny Loewy, one of Wall Street Journal's top 50 Realtors and has successfully completed, "The advanced individual training series."
In her off time Dawn enjoys spending time with her 8 year old daughter, Angelina, singing, acting, theater, and playing softball. Originally from Southern Maryland, she can't wait to show you why she chose to remain here to raise her family. She loves a challenge and takes a proactive and optimistic approach to everything. Dawn believes in giving back to her community and actively volunteers her time on mission trips to the "hollers" of Kentucky every year. She also collects clothing and toys for less fortunate children in the community, and entertains for the teams at the Cancer Society's Relay for Life events.
When you hire Dawn Bush, you are hiring a network of 50 thousand agents to go to work for you. Her information is worth millions, her support and dedication, PRICELESS.

Marsha is a Southern Maryland native who has enjoyed living, working and raising her family in this beautiful area. 

Marsha’s life experiences coupled with the support of her husband Derek, 3 kids and 1 grandchild have all added to her decision to help people buy and sell real estate.  Marsha truly enjoys meeting new people and discovering what their needs are for real estate.   Over her many years of living, working and co-running her husband’s excavation business, she has made many friends, and business associates.  Through these associations she is able to keep her hands on the pulse of land and real estate in Southern Maryland.  These invaluable connections and benefits are brought right to you in every aspect of your real estate transaction. 

Marsha prides herself in being an organized, motivated, helpful agent who will work diligently to find your next home or your dream piece of land to build your new home.

Furthermore, Marsha is thrilled to be teaming up with DeHanas Real Estate Services since they too are a staple in Southern Maryland real estate.  She knows that the experienced team she is joining with and all of their advertising possibilities can vastly improve her success and is eager to pass these benefits on to you.  She is dedicated to finding you “more” land,” more” house, “ more” customer service, and “more” of a personal touch.

DeHanas Real Estate Services is family owned and operated. They service Homebuyers and sellers in Maryland, Virginia and Washington DC.

Melinda was born and raised in Southern Maryland and currently resides in Charles County with her husband and 2 children. She attended Lackey High School and the College of Southern Maryland prior to entering the workforce. She has worked in the real estate industry for over 10 years and has over 20 years of customer service related experience. Melinda’s extensive knowledge of the area, experience in the field and passion for helping people enable her to provide exceptional service to her clients. “Really listening to the client’s wants and needs is a major component in helping them to achieve their goals”. Whether you are buying or selling, Melinda will guide you through the entire real estate transaction with friendly service and true professionalism.

DeHanas Real Estate Services is locally owned and family operated, specializing in smooth residential home sales in Washington DC, Maryland and Virginia.

 On a continued positive note, the decline in the average price, while still down, rose from -16.39 in September to -9.05 in October. Year-to-date median pricing is down 13.3% to last year.  Another important note is the “average sale price as a percentage to list price”. In a healthy market, this figure comes in around 98%-99%. Currently it is at 89.58%. This means buyers are getting an average of 10.5% off the original list price for homes that are selling. For sellers, this means the pressure for lower prices is still very strong.

Inventory remains consistent and unchanged compared to the data for September 2009, with just a modest decline.  Out of 1216 listings Active on the market, 231 new active listings were added during October, and there were 150 new contracts pending, which is down slightly from September.

As for properties in foreclosure, Realtytrac.com reported 80 new properties in default for the month of October in Charles County, which is significantly down.  However, the total number of properties in Charles County that are in some state of foreclosure (including bank-owned) has increased to 992 properties, compared to 942 during the month of September.   The number of properties in a state of foreclosure continues to be of concern, and all these numbers are not reflected in the MRIS Trends Report because the majority of these homes are not currently being actively sold at this time.  

Rental activity continues to remain strong.  There are currently 183 rentals on the market. Over the past 30 days 60 homes have been rented in Charles County. The available rental inventory has remained consistent all year.

Some very good news in all of this is the “new and improved” tax credit. It is official. The tax credit of $8000 for homebuyers who have not owned a home in the past three years has been extended until April 30, 2010. In addition, a tax credit of up to $6500 has been included for homebuyers who are selling a home in which they have held as their principle residence for the past 5 years.  I have included a more detailed outline within this report.

According to First American Core Logic, a company who provides information to the Multi Regional Information System, there are more than 950 homes in Charles County, currently in some state of foreclosure. There are as many as a 100-120 new defaults in the county each month according to data from Realtytrac.com.

Ironically, this article came out on the same day as WTOP News broke an article titled “New Flood of Foreclosures Likely to hit Area”. The article cited research from the Urban Institute on the study of housing in the Nations’ Capital where Charles County ranked number two, behind Prince Georges County in the percentage of foreclosures during the month of June.  Further, in July and August the number of new foreclosures outpaced the number of total home sales by 10%.

Everyone in our community continues to be impacted by home foreclosures. Property values are still declining, and jobless rates continue to increase.  We are not looking into someone else’s back yard. This is happening right here at home. Community leaders have a responsibility to report accurate information. Misstatements of this kind like the one made by Mr. Griessel, will only undermine the importance of finding a resolution to our current housing crisis.

Top Democrats in the Senate have reached an agreement to extend the soon-to-expire $8,000 tax credit for first-time homebuyers, Senate Banking Committee Chairman Christopher Dodd said Tuesday. Dodd did not offer any details on the extension, but said that “it was done”.

As part of a package that would extend unemployment benefits, the vote is expected Tuesday evening. According to a top Republican, there is still some negotiating to be completed on the proposal.

The popular tax credit, which has helped lift the housing market out of its worst slump since the Great Depression, is set to expire on Nov. 30, 2009.

Dodd and Republican Johnny Isakson want to extend the credit through June of next year and broaden it to anyone buying a primary residence, not just first-time buyers.

Senate Majority Leader Harry Reid had backed a narrower version which would extend the full credit through March and gradually phase it out through the end of 2010, through decreasing increments of tax credits. Dodd said that the deal would merge the two proposals.

The next stop for this bill would be the House, which has yet to discuss it.

According to the White House, an extension of the credit would cost tax payers as much as $1 Billion.

An extension of the tax credit, as well as extending it to all purchasers and not just first time home buyers would, in all likelihood, would put an end to the current housing crisis. Should this bill not be passed, the housing market is likely to continue to see a flood of foreclosures for several more years.

On a very positive note, the decline in the average price, while still down, rose from -22.57 in August to -16.39 in September. We are also seeing an increase in the amount of homes selling in the “over $400,000” price range which has been lack-luster for most of the year.  I have been in several $400k+ transactions this month where there have been multiple offers.  There is an article on Yahoo News indicating homes that are priced correctly to the market are seeing multiple offer situations, and I can verify that to be the case.

Inventory remains consistent and unchanged compared to the data for August 2009.  Out of 1274 listings Active on the market, 256 new active listings were added during September, and there were 166 new contracts pending, which is down slightly from August.

As for properties in foreclosure, Realtytrac.com reported 181 new properties in default for the month of September in Charles County.  The rate of new defaults continues to out-pace the total monthly rate of sale, which is an ongoing trend.  The total number of properties in Charles County that are in some state of foreclosure (including bank-owned) has remained steady at 942 properties, compared to 938 during the month of August.   The number of properties in a state of foreclosure continues to be of concern, and all these numbers are not reflected in the MRIS Trends Report because the majority of these homes are not currently being actively sold at this time.  

Last month I told you that Lennar Homes had come out with some aggressive pricing on 3-story, 1-car townhomes. They have just broken ground on a new subdivision of single family homes, called Gleneagles, located on Billingsley Road, near Piney Church Road in Waldorf. They have introduced 2-car garage, 3 bedroom, 2.5 bath, single-family homes beginning at $259,990, which is also seen as fairly aggressive.

The $8,000 tax credit program is scheduled to end on November 30, 2009. There has only been speculation that this program, or something like it, will be extended. I would expect the public will be made aware of the plans prior to the Thanksgiving Holiday.

Rental activity continues to remain strong.  There are currently 198 rentals on the market. Over the past 30 days 62 homes have been rented in Charles County. The available rental inventory has remained consistent all year.

Thank you for contacting me to express your support for extending the First-Time Homebuyer Tax Credit.  I certainly appreciate your taking the time to make me aware of your concerns about this important matter.

The Housing Assistance Tax Act of 2008, part of the Housing and Economic Recovery Act of 2008 (P.L. 110-289), created a refundable tax credit for first-time homebuyers purchasing a principal residence after April 8, 2008, and before July 1, 2009. The American Recovery and Reinvestment Act of 2009 (P.L. 111-5) modified the credit for taxpayers purchasing homes after December 31, 2008, and extended it to include purchases through November 30, 2009. 

First-time homebuyers generally include individuals who have not had a present interest in a principal residence within three years before buying the new property. The credit is based on 10% of the purchase price of the principal residence, but may not exceed $7,500 for residences purchased in 2008. Those purchased in 2009 may result in as much as an $8,000 credit. The credit may be reduced or eliminated for married taxpayers with income over $150,000 or other taxpayers with income over $75,000. To be eligible for the credit, taxpayers must purchase property after April 8, 2008, and before December 1, 2009. The property must be used as the taxpayer's principal residence.

There have been several proposals introduced in the 111^th Congress that would expand the First-Time Homebuyer Tax Credit or extend the program beyond the November 30, 2009 deadline.   The most recent bill, H.R. 2905, was introduced by Representative Jerry Moran of Kansas.  H.R. 2905 would expand the credit to all individuals purchasing a principal residence and extend this credit through 2011.  H.R. 2905 has been referred to the Committee on Ways and Means.  While I am not a member of this committee, you may be certain that I will keep your views in mind should H.R. 2905 or additional relevant legislation come before the full House of Representatives.

Thank you again for sharing your thoughts with me.  To stay informed, please visit my website at www.hoyer.house.gov.  While there, you can sign up for the Hoyer Herald, access my voting record, and get information about important public issues.  If I can be of further assistance, please do not hesitate to contact me.  

With kindest regards, I am

Sincerely yours,

Steny H. Hoyer

Rachel DeHanas, Broker/Owner of DeHanas Real Estate Services in Waldorf, recently acknowledged Stephen  Nichols as the top agent for the month of September, 2009.  “While Steve lists and sells homes, 100% of his transactions during the month were from buyers.” Says DeHanas. Nichols settled more than $1.5 million in residential home sales during the month.

Nichols says, “I hear a lot of people talk about how slow the real estate market is, but not from what I see. Most of my buyers, lately, have been taking advantage of the $8000 tax credit promotion, which is scheduled to end on November 30, 2009. With only a few short months left buyers are coming out of the woodwork. It is also a great time for investors.”

Stephen has lived in Southern Maryland nearly all his life. He attended Lackey High School, Prince George’s County Community College, and is currently attending University of Phoenix where he is finishing up his business degree. He has over 20 years of experience in the hospitality industry which enables him to provide a high level of customer service and satisfaction to exceed his clients’ expectations. Stephen is licensed in Maryland, Virginia and Washington DC.

DeHanas Real Estate Services is family owned and operated, serving buyer and seller clients in Southern Maryland, Northern Virginia and Washington DC. In addition, DeHanas Property Management effectively represents Home owners choosing to invest in residential rental property.

The most recent homes sold in Gleneagles include:

The Victoria Mae at $259,990 to $279,990

The Princeton at $305,990

The Patriot at $307,990

The Briarwood at $325,990 which includes a brick front.

There are only 2 homes left at $259,990.

If you are thinking about new construction, please call our office at 301-870-1717.  DeHanas Real Estate Services offers "FULL TIME" Buyer Representation, at no cost to the buyer.

Thank you for contacting me about a homebuyers' tax credit in "The American Recovery and Reinvestment Act of 2009" (AARA, H.R. 1, Public Law 111-5). I have introduced legislation to create and expand such tax credits.

Whole communities are being affected by the housing crisis that is roiling our national, state and local economies, causing cutbacks in services, and hurting millions of hard-working Americans and their families at a time when they most need help. It is important to encourage prospective home buyers to jump into the housing market now.  First-time homebuyers account for more than 30 percent of the market.  In some communities, they account for 60 percent of the market or more.

I offered an amendment to AARA that would extend help for the ailing U.S. housing market through the end of this year by changing the date qualified first-time homebuyers could purchase a primary residence through December 31. Extending this tax credit through the end of this year will give many Americans the time to act smartly and swiftly to determine their first step into the housing market.

The American Recovery and Reinvestment Act as agreed to in conference and signed into law by the President on February 17, 2009, would provide first-time homebuyers in 2009 a credit against their federal income tax equal to a maximum of 10 percent of a home's purchase price, or $8,000.  The tax credit is refundable, which allows lower-income households with little or no tax liability to take full advantage of the credit. 

In addition to my amendment to AARA, I introduced S. 312, First-Time Homebuyers' Tax Credit Act of 2009 with Senator John Ensign (R-NV).  This legislation would provide a $20,000 refundable tax credit to first time-homebuyers for their principal residence. The credit is per purchase, not per person. Individuals with incomes at or below $75,000 and couples with incomes at or below $150,000 would qualify for the credit. This provision would expire one year from date of enactment.

Again, I appreciate your letting me know of your support for the homebuyers' tax credit.  Please be assured that I will continue to support efforts that minimize hardship in the event of foreclosures and help ensure homeownership.  If I may be of further assistance with this or any other matter of importance to you, please do not hesitate to contact me.