Real Estate Information Archive

The Southern Maryland Association of Realtors recently announced to its Realtor Members, the Charles County Government is increasing excise taxes on new home sale beginning July 1, 2014.  Any NEW  home sold after this date is subject to the following taxes for Fiscal year 2015:

Single Family Home = $13,366

Townhome = $12,677

Multi-Unit Dwelling = $ 9,646

This tax lien will appear on the purchasers tax bills and is due payable over a ten year period.

If you are considering buying a new home, call DeHanas Real Estate Services FIRST at 301-870-1717.  Buyer Representation is free!

Search for Homes

Although the rental market is strong all year long, Springtime has arrived, marking the beginning of the rental season.  It is this time of year that the inventory increases and is generally matched by consumer demand.  The Southern Maryland area has held a very consistent rental market, in terms of statistics, for the past several years.  However, with home prices where they are, compared to the growing cost of renting, home ownership proves to be the best bet for your wallet.

In fact, Trulia released a report on Rent Vs Buy, measuring costs in the top 100 metropolitan markets, and explains that the cost of home ownership remains cheaper than renting by an average of 38%!  To put that into perspective, a $1500 a month payment at 3.75% interest could get you a home loan around $240,000.

The other interesting findings in the report include:

• Even though prices increased sharply in many markets over the past year, low mortgage rates have kept home ownership from becoming more expensive than renting.

• Some markets might tip in favor of renting this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.
• Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.

Buying a home now makes sense. You can lock in a mortgage payment before home prices and mortgage rates rise as experts expect they will. If you rent, your housing expense will only continue to increase.

Additionally, while we are still finding some mortgage companies continue to maintain a tight control over credit requirements, others are offering programs more consistent with the kinds of credit the average American is maintaining.  You can now get an FHA or VA loan with a credit score as low as 580.  This is huge news as we move into the renting and buying season, as many renters will now have options they never knew existed to them.  For more information, on this program, call DeHanas Real Estate Services at 301-870-1717.

Search for Homes

As we pass through the New Year and all of the holiday festivities, the Real Estate Market is beginning to heat up once again. The National Association of Realtors is forecasting a 15% to 20% increase in sales, and at a time when the housing inventory is at an all time low.  One segment of inventory that has remained consistent over the past couple of years is the supply of rental property.  Fueled by a combination of investors jumping into the market and homeowners unable to sell homes due to underwater mortgages, rental properties have held their own when it comes to supply vs demand, and as a result rental pricing has remained relatively stable.

Consumers on the move have plenty of hoops to jump through when it comes to buying a home because the mortgage industry continues to tighten its prerequisites for obtaining a mortgage, and if you are contemplating purchasing a home that is a short sale or Bank-owned, you better be prepared for a long wait that statistically results in more disappointments than wins.  As a result, many prospective home buyers end up renting.  But is this the best financial choice?  Home buying just might be worth a little "hoop-jumping" for some consumers.

In most cases, because of the low mortgage rates, a home buyer will pay $500-$600 per month less for the same home that a tenant is occupying.  And with home values finally stabilizing and heading in a more positive direction, the prospect of future equity certainly out weighs paying for someone else's mortgage. 

For those interested in a better understanding of the cost of renting verses the cost of buying, I came across this link featured in the New York Times: http://www.nytimes.com/interactive/business/buy-rent-calculator.html

Of course if you have any questions regarding buying, selling, renting or investing in real estate, DeHanas Real Estate is here to help!  Call us at 301-870-1717.

Search for Homes

We are happy to report that Charles County has received an additional $100,000 in State Neighborhood Stabilization Program funds in order to re-open the Charles County Neighborhood Conservation Down Payment Assistance Loan Program (NCI DPA).

The Charles County NCI DPA program encourages affordable housing in neighborhoods most affected by Foreclosure and sub-prime lending. The program provides down payment financial assistance to qualified home buyers. The program is administered by Charles County Department of Community Services Housing Authority.

For more information, or to see if you qualify for this program, please call DeHanas Real Estate Services at 301-870-1717, or email us at [email protected]. 

We have a lot of new construction going up in Charles County. I thought I would take a minute to list some of single family detached homes for you.

Quality Built – 2 locations:

North Point, Waldorf, MD 20603

• 7 Floor plans
• Base Price is mid to high $300,000

Coachman’s Path, Waldorf, MD 20601.

• 14 Floor plans
• Base price is low to mid $400,000

Lennar – 3 Locations

Portfield Crossing, Waldorf 20603

• 5 Floor plans
• Base Price is mid to high $300,000

Gleneagles, Waldorf 20602

• 7 Floor plans
• Base Price is mid to high $300,000

Heritage at St. Charles, White Plains 20695

• 55 Adult Community
• 5 Floor plans
• Base Price is mid to high $200,000

Ryan Homes – 7 locations

Sunridge, White Plains 20695

• 5 Floor plans
• Base Price is low to mid $300,000

Fieldside at St. Charles, Waldorf 20602

• 5 Floor plans
• Base Price is high $200,000

Worthington and Greenhaven Run, White Plains 20695

• 5 Floor plans
• Base Price is mid to high $300,000

Autumn Hills, Waldorf 20603

• 5 Floor plans
• Base Price is low to mid $300,000

Colonial Charles Sf, Waldorf 20603

• 5 Floor plans
• Base Price is high $200,000

Piney Grove, Waldorf 20601

• 5 Floor plans
• Base Price is low to mid $300,000

Brentwood, Waldorf 20601

• 5 Floor plans
• Base Price is low to mid $300,000

Richmond American Homes – 2 Locations

St. Charles, Waldorf 20602

• 5 Floor plans
• Base Price is low to high $300,000

Leighland Meadows, Waldorf 20603

• 4 Floor plans
• Base Price is high $300,000

KB Homes – 2 Locations

Middletown Woods, Waldorf 20603

• 8 Floor plans
• Base Price is mid to high $300,000

Stonebridge, Waldorf 20601

• 3 Floor plans
• Base Price is low $300,000

Steuart Kret Homes – 2 Locations

Highgrove, White Plains 20695

• 6 Floor plans
• Base Price is low to mid $300,000

Inverness, Hughesville 20637

• 9 Floor plans
• Base Price is low to mid $400,000

Agricopia, La Plata 20646

• 6 Floor plans
• Base Price is mid to high $400,000

The Village of Steeple Chase – 1 Location

• 7 Floor plans
• Base Price is mid $300,000
• La Plata

D.R.Horton – 2 Locations

North Point, Waldorf 20603

• 5 Floor plans
• Base Price is mid $300,000

Worthington, White Plains 20695

• Base Price is high $200,000

New construction is a great way to purchase a hassle free home with no worries. You can pick you colors (cabinets, counter tops, paint, carpet, floors) and move in the day of settlement with out having to fix anything.

If you would like more information about any of the floor-plans or would like to make an appointment to look at a model feel free to give me a call. 301-870-1717.

Real Estate Investment Opportunities in Maryland and Virginia just got better!

To better serve the needs of real estate investors in Maryland and Virginia, Stephen Nichols, a Realtor with DeHanas Real Estate Services in Waldorf, MD, recently earned the Certified Investor Agent Specialist (CIAS) Designation. With the CIAS, Stephen has the training, tools and calculations to effectively serve the five investor types: First-Time Investor, Move-UP Investor, Portfolio Investor, Performance Investor, and Rehab and Resell Investor.

"Real estate presents a consistent and stable way to build wealth, brings liquidity to our housing market, and stimulates our local economy. In fact, in the past year, investment and second-home properties represented approximately 27% of all residential sales. It’s also worth nothing that nationwide, 43% of real estate investors earned less than $75,000 per year." says Nichols.

Today, real estate is quite literally on sale! There is an unprecedented opportunity to build wealth through real estate, and I specialize in helping all investors achieve their goals. Contact Stephen today at 301-870-1717 x 115 to learn more about investing in real estate.   

On Nov. 6, 2012, the state of Maryland rolled the dice on the expansion of full-fledged gambling and, depending on your point of view, hit the jackpot or went bust.

The Gaming Expansion Question, or simply “Question 7,” allowed voters to determine whether or not to essentially turn Maryland into a sort of East Coast Las Vegas, along the lines of  Atlantic City, New Jersey. It passed, but just barely (51.9 percent for and 48.1 percent against), and not without heated controversy.

Now that Question 7 has been answered by the voters, existing casinos in Maryland, like Maryland Live! in Hanover, can remain open 24 hours a day and, by early 2014, expand their slots-only gambling options to include a variety of traditional casino games, such as blackjack, craps, roulette, and other dice and card games.

According to the Washington Post, the clear winner in this game of legislative roulette is MGM Resorts. Las Vegas' largest casino operator appears to hold all of the trump cards over Penn National Gaming in the deal to develop a proposed resort and casino at National Harbor. Carrying an estimated $800 million price tag, this new casino has the potential to surpass all other East Coast casinos in terms of profits, the Post reported, and will likely siphon a considerable amount of revenue off of Penn National's Charles Town casino in West Virginia.

How it all turns out remains to be seen, but in any event some big changes are taking place.

It's no secret that Charles County is proud of its rich and storied history. So, why not shine the spotlight on it in class and style every year? Highlighting the county’s past is one of the primary reasons that the Charles County Historic Preservation Commission exists, and the Commission's Preservation Awards and Reception Ceremony serves this purpose perfectly.

This year the Charles County Historic Preservation Commission's Reception and Awards Ceremony is scheduled to take place on Saturday, Feb. 8 at the Old Waldorf School, located at 3074 Crain Highway, Waldorf.

The Historic Preservation Award is bestowed upon eligible businesses, organizations, projects and individuals annually, at a gala awards ceremony. The county's Preservation Commission created two categories for its awards, which are Preservation Service and Preservation Projects.

In the Preservation Service category, recipients are awarded some well-deserved recognition for their superior support for and exceptional achievement in furthering the preservation of Charles County's unique and special history. Some of the specific areas of consideration include the following:

• Community leadership
• Education
• Advocacy
• Research
• Planning
• Development

Under the umbrella of the Preservation Project category, you will find award recipients who have displayed outstanding leadership and initiative in preserving and restoring historic buildings, in interpreting the county's architectural features into new construction, and in the creative reuse and adaptability of the county's historic structures. Considering the number and outstanding quality of Charles County’s historic buildings, we all benefit from the efforts made to preserve and understand them.

Event details for the Charles County Historic Preservation Commission's Reception and Awards Ceremony:

• Saturday, Feb. 8 at the Old Waldorf School, located at 3074 Crain Highway, Waldorf
• Each attendee is encouraged to donate $5, which will help further to goals of the Charles County Historical Trust; light refreshments will be served
• For more information or to RSVP for the event, please contact Beth Groth at 301-645-0684 or [email protected].

Bank of America would like to inform the real estate agent community that Congress has extended the certain provisions of the Mortgage Forgiveness Debt Relief Act through the American Taxpayer Relief Act of 2012 until December 31, 2013. This act benefits qualified homeowners who may have otherwise owed taxes on forgiven debt after going through a short sale.

Homeowners will continue to receive their 1099-C forms. Please keep in mind that homeowners should always consult their tax advisor so they can evaluate their personal situation and understand their tax payments.

According to the Sperling's Best Places.net, as of 2011 there were only 18 souls occupying the quiet and quaint rural community of Port Tobacco Village, Maryland, making it the tiniest officially incorporated town in the state. The village is small, there is no question about that, but what it lacks in population, it more than makes up for in stature, lore and legend, and historical significance.

Located in the heart of Charles County, Maryland, the community that would become the Port Tobacco Village of 2012 was initially settled by English colonists way back in the year 1727, which makes it one of the oldest in Maryland. At one time during that era of American history, when it carried the moniker of “Port Tobacco River,” the village was the second biggest river port community in the state of Maryland.

Port Tobacco Village served as the county seat city for Charles County. Its close proximity and easy access to the Port Tobacco River, Chesapeake Bay and subsequently out to the Atlantic Ocean proved a very advantageous one, turning it into a relatively calm water, weather-protected seaport. The village's seemingly charmed existence would not last long, however, as Mother Nature and advances in transportation conspired together to bleed Port Tobacco Village nearly dry of its commerce and consequently its inhabitants.

At some seemingly arbitrary point in the late 1800s or early 1900s, nature essentially cut Port Tobacco Village's umbilical chord by slowly sifting more and more silt from the ocean into the Port Tobacco River. Over time, this and other tidal changes served to eliminate the community's easy access to the Chesapeake Bay and therefore the Atlantic Ocean, making the “Port” in Port Tobacco Village superfluous.

The nearly fatal blow to Port Tobacco Village was delivered by the proliferation of railroad tracks and trains, which at the time served primarily larger communities. The county seat was moved closer to the railroad traffic in La Plata in 1895, thereby causing many of the village's remaining occupants to move away in turn.

One of the village's oldest residents, so to speak, is the Legend of the Blue Dog. Since about 1897, every year at Halloween the tale is told of the ill-fated Charles Thomas Sims, his Blue Dog, Rose Hill and greedy old Henry Hanos. Local myth says that the ghost of the Blue Dog stands guard over the spot on Rose Hill Road at which it and its master, Sims, were murdered by Hanos for Sim's alleged deed to an estate and fortune in gold. So, while Port Tobacco Village is no longer the force it once was, some of its legend still lives on.