For more information about buying, selling or renting in St Charles, contact DeHanas Real Estate Services at 800-842-0190 or go to www.dehanas.com.

Sorry to joke about a matter that has plagued us for more than 4 years now. Humor will keep us sane.

 There just doesn’t appear to be any light at the end of the tunnel. The real estate market remains sluggish, and indications are that we will continue to see much of the same.  With the failure of a budget decision by the “Super Committee”, investors and potential home buyers will continue to be reluctant to jump into any kind of spending.  Consumer confidence is on a roller coaster.

Freddie and Fannie are in a panic, and on the verge of going broke. And lending giant, Bank of America seems to be in a death spiral. I have heard rumblings that they might be getting out of the mortgage lending business all together. With all of the recent negative press and plunging stock values, I am certain that Warren Buffet is having a few restless nights lately. 

In 2012, there will be plenty of “good deals” to be had by qualified home buyers. Short sales will remain popular for the next 8 to 10 years. The Charfin Institute, a National educational firm specializing in training real estate professionals on how to help their clients avoid foreclosure, says that bank owned properties will see a decline in inventory, while short sales will increase.  A short sale is where a homeowners’ mortgage company will allow the sale of a home where the value of the home is less than the amount owed. As a result, the average real estate transaction will take about 4 months. Buyers and sellers will need a great deal of patience.

Additionally, look for a change in the way we live.  There is an increase of multiple families and extended families living under one roof. And homeowners will be living in the same house for much longer than they did a few years ago.  Without the ability to create fast equity, most homeowners will not be able to pick up on a whim and move.  I predict a return to neighborhood values, where you get to know your neighbors and socialize with them again.

One thing is for sure; there will still be home buyers and there will still be home sellers. As you go into 2012 whether you are moving to another State, or preparing for the end of days, planning ahead is the key to surviving this maze of uncertainty. 

Despite later being pardoned for the crime by President Andrew Johnson, the numerous attempts Mudd’s descendents have made to expunge his conviction from public record have all failed. Moreover, historians still speculate on Mudd’s involvement in Lincoln’s assassination and how much he actually knew of Booth’s plans. Thus, the Mudd story has all the components of any great thriller, and the debate over his innocence only adds to the intrigue.

A visit to the Mudd House rewards you with a look at the home and surrounding grounds, which have remained in the Mudd family and still look much like they did when Samuel A. Mudd lived there. You can even see the very table where Dr. Mudd treated Booth’s leg, as well as the room in which Booth slept.

The Mudd House is located at 3725 Dr. Samuel Mudd Road, Waldorf, MD 20601. For detailed directions to the house, click here.

Admission to the Mudd House is as follows:

Adults: $6

Kids age 6-16: $2

Dr. Samuel A. Mudd Society Members: free

Proceeds go toward the general upkeep and maintenance of the grounds, which were gratefully placed on the Register of Historical Places on October 1^st, 1974.

So, let’s take a look at what exactly a realtor’s commission pays for, and see if it’s worth it.

When you hire an agent to help you sell your home, keep in mind that their commission is actually an incentive for them to work their hardest, since the more your house sells for, the more they get. Helping you sell your home for the best price possible is in your best interest and the realtor’s best interest. So, you can be sure that your Realtor is going to pull out all the stops for you. Moreover, Realtors depend on word of mouth to garner new clients. So, treating you unfairly, being lazy, or dropping the ball, are not in their best interest either.

Many people are afraid that a Realtor is going to want too big of a commission, and that it’s too much trouble to make sure they are getting a fair shake. The truth is, Realtors representing buyers basically charge the same amount, usually about 3% of the sale, depending on location and other variables, while seller’s representatives receive almost as much (on average). Again, Realtors depend on customer satisfaction to stay in business. They can’t afford to alienate potential customers by charging a commission way outside the average. This also means you can focus on looking for a Realtor that you really like and respect, rather than a price tag.

Selling homes is what Realtors do. Their income depends on their experience, their knowledge of market trends and comparable prices of homes in your area, their ability to negotiate and network, and their ability to tackle the selling of your home without the emotions you inevitably bring to the table. This last part is a much bigger deal than you’d think. People often take for granted just how grueling and emotionally exhausting this process can be. By hiring a Realtor, you are free to experience the necessary emotions of this major transition in your life, without compromising your judgment and, ultimately, the best possible scenario for selling your home.

In the end, a Realtor’s commission really does pay for itself.

First, it's important to realize that the president's proposal is not a new program, but a revision to the current Home Affordable Refinance Program (HARP). However there is a big change: Now homeowners can refinance no matter how underwater they are! Before homeowners could only refinance if they were 25% or less underwater, and even then many banks only let people who were 5% or less underwater refinance.

Also, with the revision it's possible that an appraisal won't have to be performed, which is great news as this will save time and money. But this is only the case if Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models.

Keep in mind that these updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac...and whose loan was securitized by Fannie Mae or Freddie Mac prior to May 31, 2009. So the chances are that people who have refinanced since May 2009 will not qualify to refinance under the HARP revision.

As of now, the revisions to HARP have been proposed by President Obama and the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. This directive has been given to Fannie Mae and Freddie Mac and they now have until November 15, 2011 to give Banks guidance and details regarding how these changes will be run.  Banks are expected to have plans in place and ready to refinance home mortgages by December 1, 2011.

The Department of Defense chooses the BRAC process when looking to restructure military operations throughout the country in order to make our nation’s military stronger and better able to respond to homeland security needs. Maryland is one such state that will be taking on more responsibility in this endeavor. For example, the headquarters of the Defense Information Systems Agency (DISA) will be relocating from Virginia to Fort Meade, and Team C4ISR, which oversees several aspects of military communications and command, will be relocating from New Jersey to Aberdeen Proving Ground. These are just two of the many exciting military operations that will now call Maryland home.

So, what does this mean for Maryland residents?

Simply put, with a larger military presence, there will be civilian job growth in the security industry and services sector, with estimates of around 30,000 brand new jobs; there will be new career opportunities for Maryland’s young people, as some of our country’s most important operations are now closer to home; there will be an increase in the buying and selling of goods due to the increase in military personnel in the state; and there will be higher demand for Maryland real estate, as an estimated 28,000 military households are expected to relocate to Maryland.

These are all great things for Maryland!

Of course, with our low unemployment rate, reasonable cost of living, affordable housing, pride in our region’s history, and the natural beauty that abounds in our rivers, mountains, plateaus, and coastal ranges, there is a lot for our new neighbors to be happy about as well!

The forum was hosted by the Progressive Policy Institute and Economic Policies for the 21st Century and brought together policy leaders, industry representatives, members of Congress, thought leaders and the media. In a letter sent today to Congress and President Obama, NAR outlined and urged support for the recommendations in a new five-point housing solutions plan to help reenergize housing markets and spur the economic recovery.

“As the nation’s leading advocate for homeownership and housing issues, NAR knows that the key to the nation’s economic strength is a robust housing industry,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “The nation is in need of immediate policy solutions to address the myriad challenges. Swift action from Congress and the administration is needed to stimulate housing and economic recovery.”

The five-point plan urges legislators and regulators to oppose proposals that could put the nation’s housing market recovery at risk. This includes revising the unnecessarily high down payment requirements of the proposed Qualified Residential Mortgage exemption; restoring higher mortgage loan limits supported by the Federal Housing Administration and the government-sponsored enterprises (GSEs); and preserving home ownership tax benefits, including the mortgage interest deduction.

“Consumers continue to find it increasingly difficult to find affordable mortgage options. Proposing higher down payments and lowering conventional loan limits only strips home buyers of their savings and reduces the number of borrowers who are able to purchase a home,” said Phipps. “Now is also not the time to change the tax benefits that apply to homeownership, which would further undermine consumer confidence and depress home values.”

The plan recommends that lenders and the government take more aggressive steps to modify loans and approve short sales to help reduce high foreclosure inventory levels and restore vitality to communities and neighborhoods. Realtors® are hopeful that reduced fees and improvements to refinancing programs will help more struggling homeowners reduce their monthly mortgage payments and avoid losing their home to foreclosure.

The plan also calls for changes to rehabilitation and investor financing programs, which will help private capital return to the mortgage markets and foster new demand among responsible homebuyers. This would also help reduce the high inventory of foreclosed homes and stabilize home prices.

In addition, the plan recommends that the federal government continue to play a role in the secondary mortgage market to support the use of long-term, fixed-rate mortgage products and ensure a continual flow of mortgage capital in all markets under all economic conditions. Phipps said that recent proposals calling for the full privatization of GSEs Fannie Mae and Freddie Mac should be rejected, because private firms will focus on generating revenue rather than on the best interests of consumers or the nation’s housing market, making homeownership unaffordable for many Americans.

Finally, the plan urges the White House to move housing to the front of the nation’s domestic agenda. Phipps said that a broad discussion among stakeholders could provide valuable recommendations and solutions to put housing and the economy on a path to recovery.

“A housing recovery is key to the country’s future economic strength. That is why Realtors® are proud to endorse these recommendations, which we believe will help housing return to a balanced, healthy state,” said Phipps.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Any agent can show you listings in your area, because every agent has access to the listings in the MLS, or Multiple Listing Service. In fact, in today’s Internet age, listings have become searchable by everyone. But choosing exclusive representation with an agent or team of agents means they are invested in you and your specific needs and goals. By committing to a single broker, they are in turn more committed to you.

So, how do you know whom to trust when buying or selling your home? An agent worth your commitment demonstrates their salt with their superior knowledge of the area in which you are trying to buy or sell a property. This includes expertise concerning area schools, market trends, employment rates, the state of the local economy, and much more. Also important is an agent’s record of success even in these rough economic times. And speaking of experience, an experienced agent can help buyers spot potential problems, including structural problems, design flaws or contractual issues, that might otherwise go undetected.

If this sounds like too tall of an order, then look to DeHanas Real Estate Service for a “realty” check!

The team at DeHanas Real Estate Service is the best in the Washington D.C., Southern Maryland and Northern Virginia area, with over fifteen years of experience and national recognition, including a nod from Realtor Magazine, which named DeHanas one of the top 100 sales teams in the country.

Real estate in the Washington D.C., Southern Maryland and Northern Virginia area is varied, with properties ranging from rural to urban, large to small, and home prices ranging from $75,000 to the millions. It’s a lot of ground to cover, and whether you are buying or selling a home, you need to know that your agent knows this real estate better than anyone else. Choose DeHanas whether you are selling your house or looking for the perfect place to call home, and they will commit their knowledge and reputation to making your real estate desires a reality.

It used to be that watching a ball game just meant sitting in the bleachers. But at the Regency Furniture Stadium—ranked the third best minor league stadium in the country by Livability.com—there are many ways to enjoy the game. In the Texas Roadhouse Corral you can enjoy a buffet picnic and be poised to catch a fly coming out of left field. Air-conditioned and private, the luxury suites at Regency Furniture Stadium make the phrase “take me out to the ball game,” an invitation to a great time. With your own personal suite attendant, you never have to miss a play in order to get your hands on the stadium’s famous crab cakes. Regency Furniture Stadium also has something no other stadium has: bumper boats in Crabby Cove, a great place to “chill” on those hot summer days at the ballpark.

The Blue Crabs provide more than just great baseball at an affordable price for the whole family; they are also deeply involved with charitable causes, benefiting groups like the American Red Cross and the Southern Maryland Food Bank. Recently, the Blue Crabs and their fans pulled together to donate a record amount of baseball equipment to a favorite cause, the Cardboard to Leather Project, which collects baseball gear and sends it to disadvantaged youth all over the country. Baseball has always been good for youngsters and the young-at-heart, but the Blue Crabs and their commitment to philanthropy make it good for the community.

So, whether you are looking for an all-American experience the whole family can enjoy, a way to bring coworkers together to unwind after a long week in the office, the perfect event for a memorable birthday party or wedding reception, or the perfect venue for your fundraiser (or fun-raiser as we like to call it) think of the Blue Crabs and the Regency Furniture Stadium first!

Of course, Oktoberfest in Charles County is more than just a good time; it’s for a good cause too! All proceeds from the event will go to the Society for the Friends of Hospice, a 501(c)(3) non-profit that has been providing significant financial support for one of Charles County’s most important programs since 1986.

Hospice is an invaluable resource for people facing end-of-life circumstances brought on by cancer, heart disease, AIDS, Alzheimer’s, and other terminal conditions. The Society for the Friends of Hospice has been extremely instrumental in making sure that at their greatest time of need, Charles County patients have medications for the management of their pain, necessary equipment for their optimal comfort, as well as emotional and spiritual support that all too often can’t be found in other medical settings. Hospice provides support when people need it most, with the dignity they deserve. Without the help of the Society for the Friends of Hospice, Hospice of Charles County would not be able to serve as many people as it does, as well as it does.

But in order to maintain its continued support, the Society for the Friends of Hospice needs you! So, join us at the Charles County Fairgrounds, October 22^nd and 23^rd, for a fun-filled weekend of music, food, children’s crafts and games, and much more, and know that your enjoyment is also benefiting a great cause.

The Charles County Fairgrounds are located at 8440 Fairgrounds Road, in La Plata, Maryland. The event goes from 12 p.m. to 7 p.m. on Saturday, and 12 p.m. to 5 p.m. on Sunday. General Admission tickets are $10 in advance and $15 at the gate, so purchase your tickets now! Also, check out special ticket prices and package deals here.

Charles County's inventory fell the most with nearly 27% fewer homes for sale last month than the same time last year, followed by Calvert County with more than 20% fewer home and St Mary's with 12.5% few homes. The number of units actually sold during September was down slightly in all three counties from the year before.

More alarmingly, the number of new contracts is down significantly from last year.  St Mary's was hardest hit with 33% fewer contracts, Calvert with 29% fewer contracts, and Charles County at 16% fewer contracts.  The average sold price also continues to fall with Charles County's average down by 9.25%.

Speculation is that the inventory is off due to some of the extreme weather we have experienced lately, however, the data provided by MRIS suggests the inventory slide began in late 2010 with only a modest increase during the second quarter of 2011. 

~Decide on a nieghborhood that best fits your needs and lifestyle.  Getting this information is easier today than it has ever been.  My website contains tons of information on communities in the area as well as relative links to area attractions.  Statistical information links on shcools, crime and weather can also be an inportant factor when deciding on a neighborhood.

~Make of list of your "likes" and "must haves". How many bedrooms do you need? Do you have to have more than 1 bath? If you have pets, will you need a fenced yard? You might like to have a garage, but is it a "must have"?  What can you afford? When searching for a rental property your objective is to weed out the properties that will not work for you. Try to limit your choices to 4 or 5 properties to preview.

~Schedule an appointment with your agent to preview properties. Rentals become available to show about 30 days before they are ready for occupancy.  If you need to move by January 1st, begin looking during the last week of November or the first week in December. Generally property ownrs do not want to hold a property for more than a few weeks to a month.

~Know what your credit looks like.  A persons credit has never been more important than it is today.  It is one of the tools that property owners utilize to make decisions about accepting an application. An applicant doesn't always need perfect credit, but generally this report provides a picture of how responsible the tenant will be with regards to paying the rent and utilities on time.

~When you apply for a rental property, be prepared to provide supporting documentation when requested. Sometimes the appication processor will request pay check stubs or tax returns, or other proof of income.  The application fee varies from real estate company to real estate company and generally ranges from $25-$50 per adult occupant. Aside from a credit check, the processor may also verify previous rental history, employment/income and criminal records. Make sure you have all of the information needed to complete the application.

~Have a back-up plan.  If your application continues to get rejected, do not fret.  There are other options. You might try searching for a for-rent-by-owner. In some cases, private landlords do not run credit, or do not place a strong emphasis on credit. Remember, Property Management companies and Realtors are hired by property owners to find them a strong quality applicant.  If you are open to apartment living, we can also help you rent an apartment. While apartment living might not be prefered, remember it is only temporary while you strengthen your credit.

Call one of our agents today to get started.  This service is free to tenants. Also free is the use of our moving truck to move into your rental home. Call 301-870-1717 or 800-842-0190.

The most recent statistics by the National Association of Realtors will make any current home seller and real estate professional very jittery!

If you were a holding out from joining the real estate double dip club…this new data will 1000% convince you.

* Contracts signed to buy existing homes dropped off a cliff down month over month by 11.6%.  This means that the number of homes expected to close..the best predictor of the future health of the real estate market…are showing very dire signs.

* Year over Year (April 2010 vs April 2011) pending home sales are down 26.5%.

* No surprise with the huge decrease in pending home sales…Fannie Mae backed nearly 20 Billion dollars in few mortgages. Again, fewer home sales…fewer mortgages needed.

* HFA Mortgages delinquencies hit an all time high of 7.5%. That isn’t a huge surprised because most of their loans were originated during the boom.

A number of economists had predicted a double dip in home sales, and now the data supports those predictions.  The forecast is for the double dip in home values to run its course through 2011.  We are expected to see a break from this bad news in the Spring of 2012.

What does this mean for the real estate market?  We will continue to see short sales and bank foreclosures dominate the market, which of course translates into great deals for investors and home buyers.  In Southern Maryland, where there is an inventory shortage of available rental properties, the market is hot to scoop up homes that have mortgages significantly lower than what the same home rents for.

If you or someone you know is thinking about buying or selling a home, or if you are just looking for more information about the current real estate market, call us at 301-870-1717 or e-mail realestate@dehanas.com.

Contrary to this report, my office has actually seen a consistant increase in traffic since the first of the year.  Additionally, we have seen a rise in new short sale listings. Alarmingly, many are homeowners who purchased within the past 1-2 years asking for short sale assistance, further contributing to the inventory of distressed properties.

If you know of someone who owes more on their home than it is worth, and are experiencing a hardship causing them to fall behind in their mortgage payments, please have them call me at 301-870-1717 x106. There are alternatives to foreclosure.

Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.

Exemption From Tax Credit Recapture Rules

• Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
• However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule.

Extension of Tax Credit Deadlines

• The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010.
• However, for qualified service members who are ordered on a period of official extended duty, these dates are extended. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
• A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

Definitions

• “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
• “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

Call DeHanas Real Estate Services and ask to speak with one of our Buyer Specialists, who can help you realize your dream of home ownership. Call 800-842-0190 today!