April 2009 - Posts
There are many misconceptions in the public about what a short sale is and what qualifies a homeowner for a short sale. This is an explanation of the three must-haves that most lenders are looking for: 1. Financial Hardship Above all, you must demonstrate
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Issue Foreclosure Successful Short Sale Future Fannie Mae Loan – Primary Residence (effective May 21, 2008) A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years . A homeowner who successfully
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There are record numbers of homes being sold as a short sale in today's real estate market. Short sales have been done for years, just not in the numbers that we see today. A Short Sale is when a seller negotiates with their lender and gets them to
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There are many features of FHA loans that are great for today's Frederick home buyers. Here are the highlights: Downpayment: 3.5% Common Sense Underwriting: Although credit scores are a part of the consideration on an FHA loan, the underwriting takes
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This is the synopsis for March 2009 real estate sales activity for the entire county: Frederick County 2009 2008 % Change Avg. Price $262,235 $323,628 -19% Median Price $238,700 $290,000 -18% DOM 158 177 -11% # homes sold 171 153 +21% New Listings: 430
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Real estate statistics for March 2009 in the Mt. Airy real estate market have been published.* Here is the synopsis: Mt. Airy 2009 2008 % Change Avg. Price $363,200 $398,800 -9% Median Price $365,000 $356,000 +3% DOM 154 184 -16% # homes sold 15 11 +36%
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Real estate market statistics for March 2009 for sales activity in New Market MD have been published.* Here is the synopsis: New Market 2009 2008 % Change Avg. Price $283,600 $333,800 -15% Median Price $287,000 $320,000 -10% DOM 175 199 -12% # homes sold
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Real estate market statistics for Middletown MD have been published.* Here's the synopsis: Middletown 2009 2008 % Change Avg. Price $368,000 $412,500 -11% Median Price $292,000 $370,000 -21% DOM 186 156 +19% # homes sold 9 4 +125% New Listings: 22
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Real estate market statistics for Walkersville for the month of March 2009 have been published.* Here is the synopsis: Walkersville 2009 2008 % Change Avg. Price $174,750 $298,750 -41.5% Median Price $175,000 $280,000 -37.5% DOM 107 238 +48% # homes sold
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The statistics for real estate sales in Urbana for the month of March 2009 have been published.* Here is a synopsis: Urbana 2009 2008 % Change Avg. Price $356,819 $524,670 -32% Median Price $345,000 $550,000 -37% DOM 134 203 -34% # homes sold 10 10 0%
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Shrinking inventory in the Frederick real estate market is a good thing. The more it shrinks, the sooner we'll get back to a balanced market. Historically, an inventory of 1200 homes on the market is a pretty healthy market. We've come down to
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Increases in the tax credits for energy efficient home improvements were included in the recent economic stimulus package. The tax credit was increased from 10%of the cost of the improvement to up to 30%. The old credit had a lifetime maximum of $500,
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Economic downturns seem to bring out the scammers more than any other time. Frederick home owners who are having a difficult time making their mortgage payment need to be aware that there are answers to their dilemma, but there are also wolves in sheep's
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