Real Estate Information Archive

This excerpt was provided to area real estate brokers regarding the difference between sales of off-MLS properties compared to properties sold on MLS. Today, Bright MLS released the findings of a two-year study comparing sale prices for homes promoted through the MLS with comparable homes sold off the MLS via FSBO or other off-MLS methods.

As a Bright MLS Broker, you are part of a powerful network of 95,000 subscribers. Cooperation amongst the Brokers and agents who are Bright subscribers is one of the pillars of our organization. The findings in this report conclusively demonstrate the power of this cooperation, and the benefits of an efficient and accessible market.

Our review of 442,829 transactions across the Bright footprint shows homes marketed on the MLS sold for substantially more than comparable homes, netting a median sale price of 16.98% higher overall.

If you are looking to sell a home, please call DeHanas Real Estate Services at 301-870-1717.

The first half of 2020 was heavily influenced by gloom and doom predictions that have left the economy in shambles, and the economic outlook highly uncertain. But another catastrophe is looming that very few folks are talking about; THE EVICTION TIDAL WAVE & HOMELESSNESS. The LA Times reported, back in March of 2020, that The Mortgage Bankers Association is anticipating nearly 15 million mortgages would go into default as a result of the economic decline caused by COVID-19. With some additional data behind us, I have seen revised predictions as low as 1.5 million, still a significant number.

On top of this, is the number of rental properties in default. As reported by the Maryland Independent, locally, in Southern Maryland, property management companies are seeing approximately 30% of their rentals in default, which is alarmingly high. But there is more. The end is not anywhere in sight. The Charles County Government has indicated they will not be holding Landlord-Tenant Court until after September 1, 2020, and many other local Governments are doing the same. By this time, there will be tenants that are 6 months or more behind on rent payments, and the back-log of cases is certain to be enormous, and will take some time to filter through the court system with evictions anticipated to begin sometime during the Fall of 2020 and continue in the Winter of 2021.

What are the signs of impending housing issues? You don’t need to look any further than the homeless camps popping up and growing all over the County……yes, they have already begun growing without evictions even being initiated. Behind our office on Smallwood Drive there are 3 camps with an estimated 40-50 people living in them, including families with kids. There are many other camps popping up all over the area. In our interaction with these families, everyone’s story about how they came to be in their situation, is unique. One thing is for sure; without help, it is very difficult to climb out of homelessness.

DeHanas Real Estate Services recently began an out-reach program charged with helping to make the homeless more comfortable, and feeding the hungry. On a Wednesday evening in May, 2020, we served hot meals to 1000 people from our office in Waldorf. Going into this event, I honestly could not have imagined that we would have gone through 1000 meals!! This scenario is being played out all over the region. One of the charities we participate with is Our Place, Waldorf, a local soup kitchen. On a normal (pre-COVID) evening, there are 70-80 folks there for meals. That number has doubled, and its growing. What can you do? Get involved. Check on your neighbors. Donate your time or money to local charities. There has never been a greater need in time, than there is now, to become a good Samaritan.

We do not know if the remainder of 2020 will bring us aliens or super volcanos, and certainly a second wave of COVID could make recovery that much more difficult. But, there is a family in your neighborhood that needs help, or will need help that is one thing we can count on. If we are “All in this together”, then TOGETHER we will get out of “this”.

If you would like to donate grocery items, please call 301-870-1717

With the economic chaos brought about by COVID-19 I have had a number of homeowners tell me their banks will allow them to delay payments for 3 months, with some banks requiring payment in full on the 4th month, and others allowing the seller to pay off the 3 months at the end of the loan or when the home is sold.  While this may be the only recourse to save your home, it does come with some negative "side-effects".

Unfortunately, there is a significant amount of misinformation regarding Payment Forbearance related to the CARES Act and the impact on homeowners. Since the CARES Act prohibits Lenders from reporting Late Payments to the Credit Reporting Agencies many people are operating under the assumption they can just skip making payments without any negative repercussions. What started as Mortgage Payment relief has spread to every type of credit. We are seeing prospective Buyers entering Payment Forbearance plans on every type of credit Car Loans, Installment Loans and Credit Cards. Regardless of what the Government intends you cannot stop making payments on Credit Accounts without it hurting you!

Forbearance basically means you cannot pay on your debt. That is exactly how a lender will see it. And that information will be used when considering your next loan. While a creditor is prohibited from reporting the payment to the credit bureau, they will list it as either "Forbearance", "deference", or "modified", which will make it very difficult for you to obtain a new line of credit.

Regardless of what the Government says, going into a forbearance will hurt you. It is best to consult with a financial advisor to determine if this is the best course of action.  

If you are a real estate investor, or are considering investing, or maybe you want a bit more info before jumping in, the first place to begin your preparation is with your financial portfolio. Since most homes are in need of renovation, available financing for investors is generally limited to cash, or hard money. Using cash to purchase the home will help you to avoid financing fees, but this is not always an option, especially for first time investors. Those with limited cash on hand might choose to research Hard Money Lenders as a viable source. These loans are not regulated by the Federal Reserve, and loan qualifications will vary from lender to lender, as will the fees associated with the loan. Additionally, the investors experience will also dictate some of the fees. Generally, the more you use the same hard money lender, the lower the fees for using the money are reduced.

Here is a list of Hard Money lenders as included in The Scottsman Guide: Residential Edition:

1 STOP HARD MONEY WWW.1STOPHM.COM 949-236-6600

ACCESS FINANCIAL GROUP – JON PARLOT 720-482-0883

AEGIS FUNDING INC WWW.AGISFUNDING.COM 800-290-1954

AGOURA HILLS FINANCIAL WWW.AGOURAHILLSFINANCIAL.COM 818-707-3452

ALLIANCE PORTFOLIO PRIVATE EQUITY FINANCE WWW.ALLIANCEPORTFOLIO.COM 949-382-7300

ARCHWAY FUND WWW.ARCHWAYFUND.COM 310-447-8899

ARIXA CAPITAL WWW.ARIXACAPITAL.COM 310-889-0376

ATHAS CAPITAL GROUP WWW.ATHASCAPITAL.COM 877-877-1477

BRIDGE LOAN FINANCIAL WWW.BRIDGELOANFINACIAL.COM 714-264-4660

BROADMARK REALTY CAPITAL WWW.BROADMARK.COM 206-971-0800

BROOKVIEW FINANCIAL WWW.BROOKVIEWFINANCIAL.COM 877-734-2211

BUILDER FINANCE INC WWW.BUILDERFINANCE.COM 800-752-0401

CALCAP LENDING LLC WWW.CALCAPFINANCIAL.COM 833-816-5580

CALIFORNIA TD FUNDING INC WWW.CATRUSTDEEDS.COM 888-447-8882

CAPITAL FUNDING FINANCIAL WWW.CAPITALFUNDINGFINANCIAL.COM 866-999-2011

CAPITAL THREE SIXTY LLC WWW.CAPITALTHREESIXTY.COM 866-673-2300

CAPSTONE FINACIAL WWW.CAPSTONEFI.COM 480-737-3268

CARLYLE CAPITAL - WWW.CARLYLECAPITALINC.COM - (877) 700-1914

CENTER STREET LANDING – WWW.CENTERSTREETLANDING.COM - (855) 943-0253

CIVIC FINANCIAL SERVICES – WWW.CIVICFS.COM - (424) 336-7584

CONSTRUCTIVE LOANS LLC- WWW.CONSTRUCTIVELOANS.COM - (833) 855-3811

COREVEST FINANCE – WWW.COREVESTFINANCE.COM – (844) 223-2231

CROSSWIND FINANCIAL- WWW.CROSSWINDFINANCIAL.COM – (310) 597-4001

DIRECT LENDING PARTNERS- WWW.DIRECTLANDINGPARTNERS.COM – (484) 218-0141

DRI MORTGAGE LEDNING – WWW.DRIFUND.COM/LOANS - (561) 299-1905

EQUITY CAP FUND ADVISORS- WWW.EQUITYCAPFUNDADVISORS.COM EQUITY MAX- WWW.EQUITYMAX.COM - (954) 267-9103

EQUITY WAVE LANDING - WWW.EQUITYWAVELANDING.COM - (888) 399-8881

FMC LANDING - WWW.FUNDMORTGAGECAPITAL.COM FUNDLOANS – WWW.FUNDLOANS.COM - (970) 300-1900

FUND THAT FLIP – WWW.FUNDTHATFLIP.COM - (646) 895-6090

GENESUS CAPITAL – WWW.GENESISCAPITAL.COM - (213) 634-1002

HERZER FINANCIAL SERVICES INC. – WWW.HERZER.COM - (650) 363-8003

HILTON FINANCIAL CORP. – WWW.HILTONLOANS.COM - (602) 375-8951

INNER CORE CAPITAL INC.- WWW.INNERCORECAPITAL.COM - (619) 890-9825

JB PRIVATE INVESTMENTS – WWW.JBPISCORP.COM – (650) 315-9933

LENDINGHOME FUNDING CORP.- WWW.LENDINGHOME.COM/BROKER - (844) 415-4663

LENDINGONE LLC – WWW.LENDINGHOME.COM/BROKER-PARTNERS (888) 341-9162

LIMA ONE CAPITAL – WWW.LIMAONE.COM - (800) 390-4212

LONE OAK FUND LLC – WWW.LONEOAKFUND.COM - (310) 826-2888

LYNK CAPITAL – WWW.LYNKCAPITAL.COM - (321) 209-6871

M & M PRIVATE LENDING GROUP LLC – WWW.MMPRIVATELENDING.COM (719) 284-9166

PACES FUNDING – WWW.PACESFUNDING.COM (404) 814-1644

PACIFIC PRIVATE MONEY LOANS – WWW.PACIFICPRIVATEMONEY.COM (415) 793-3403

PATCH OF LAND – WWW.PATCHOFLAND.COM – (877) 761-6489

PB FINANCIAL GROUP CORP – WWW.CALHARDMONEY.COM (877) 700-3703

PREMIERE MANAGEMENT INC. – WWW.POLKPROPERTIES.NET (323) 685-6545

PSG CAPITAL PARTNERS INC. – WWW.PSGFUND.COM – (844) 386-3774

RCN CAPITAL – WWW.RCNCAPITAL.COM – (860) 432-5858

RED ROCK CAPITAL – WWW.FUNDWITHREDROCK.COM (719) 900-5400

REDWOOD MORTGAGE – WWW.REDWOODMORTGAGE.COM RODEO LENDING – RODEOLENDING.COM (310) 400-5631

SARATOGA CAPITAL INC. – WWW.SARATOGACAPITAL.NET (408) 418-5032

SETTLE FUNDING GROUP LTD. – WWW.SETTLEFUNDINGGROUP.COM (888) 734-3863

SHARESTATES – WWW.SHARESTATES.COM (212) 201-0750

SOUTH FLORIDA QUALITY MORTGAGE CORP. – WWW.FLORIDAHARDEQUITYLOAN.COM (954) 455-7600

SPROUT MORTGAGE – WWW.SPROUTWHOLESALE.COM/LOAN-PROGRAMS/FIX-FLIP - (800) 642-3354

STRATTON EQUITIES – WWW.STRATTONEQUITIES.COM (800) 962-6613

SUNSET EQUITY FUNDING – WWW.SUNSETEQUITYFUNDING.COM (866) 291-3412

T&M COMMERCIAL FUNDING – WWW.TMFUNDING.COM (207) 358-7527

TAYLOR MADE LENDING LLC – TAYLORMADELENDINGLLC.COM - (954) 614-5109

TRIUMPH CAPITAL PARTNERS – WWW.TRIUMPH.CAPITAL (877) 353-1099

VAL-CHRIS INVESTMENTS INC.- WWW.VAL-CHRIS.COM (949) 252-1907

VALE CAPITAL INC. – WWW.VALECAP.NET - (650) 600-7250

VELOCITY MORTGAGE CAPITAL – WWW.VELOCITYMORTGAGE.COM (866) 505-3863

VERISTONE CAPITAL – WWW.VERISTONECAPITAL.COM (877) 891-6078

VISIO LENDING – WWW.VISIOLENDING.COM (888) 521-0353

WADOT CAPITAL INC. – WWW.WADOTCAPITAL.COM (206) 362-4444

WESTERN DEVELOPMENT LLC. – WWW.WESTERNDEVELOPMENT.BIZ (703) 988-4666

WOODLAND HILLS MORTGAGE CORP. – WWW.WOODLANDHILLSMTG.COM (818) 999-6600

If you are interested in knowing more about buying or selling a home, or if you are in need of Property Managegment services, please call us at 301-870-1717. DeHanas Real Estate Services serves Southern Maryland, King George County Virginia and Washington DC.

NOW is your opportunity to buy a great home with 100% FHA or USDA Financing!!  Forget renting! You can buy this home and spend less every month!  The cozy curb appeal greets you as you arrive to this beautifully updated, one level home, featuring 3 bedrooms and 2 full baths!  The living room comes with wood laminate flooring and inviting wood-burning fireplace, and the kitchen will make any chef in the house proud! It comes with stainless appliances, granite counter tops, ceramic tiled flooring, a pantry and tons of cabinet space. The master bedroom includes private bath with jetted-tub. Sliders lead from the kitchen and the master bedroom onto a large wood deck, overlooking a fenced back yard that is perfect for pets!  The peace and beauty of the back yard create just the perfect, private spot for outdoor entertaining.  A storage shed is also included.  Other extras include crown molding, wood blinds, Sherwin Williams paint, ceramic tiled baths, upscale tubs and bath cabinetry! All you have to do is move in and unpack!

SEE IF YOU QUALIFY FOR 100% FHA FINANCING

Don DeHanas, Broker and Owner of DeHanas Real Estate in Waldorf, recently announced the affiliation of Pamela McClam to the Brokerages Waldorf office.

Ms. McClam retired in January 2017 after 39 years of Federal Service in Small Business contracting. She served as FEMA’s Small Business Specialist providing comprehensive procurement training, small business acquisition management, technical and policy support to timely implement FEMA’s Small Business Program within the Agency’s disaster and non-disaster multi-billion dollar procurements and projected contract actions.  

As a subject matter expert in small business prime and subcontracting programs, policies, and procedures, Pamela is well versed in small business procurement programs such as the 8(a) program, Service-Disabled Veteran Owned Small Business program, the Women-Owned Small Business program, and the HuBZone program. During her tenure as a Procurement Analyst and Small Business Specialist, she provided business development guidance to small businesses to include critical and strategic thinking for accessing the federal procurement marketplace, and faith-based community development to include critical outreach methodologies for faith-based community organizations.

Pamela is a resident of Charles County Maryland and an active member of Westphalia UMC, in Upper Marlboro, MD. She has earned an Associate’s Degree from Bryant and Stratton Business Institute, a Bachelor’s Degree in Business Administration from Strayer University and a Master of Arts Degree from Wesley Theological Seminary.

DeHanas Real Estate Services is family owned and operated, serving all of Southern Maryland, Norhtern Virginia and Washington DC.  DeHanas Specializes in residential real estate, investment properties, Property Management, Bank-owned sales, Short Sales, Estate Sales, first time, and luxury home buyers and water-front property sales.  Call 301-870-1717 for any of your real estate needs.

The 2018 Real Estate Market is likely to see the continued pace that we saw in 2017, with a few changes. We have already begun to see an increase, locally, of inventory in the over $400k price range, and the National Association of Realtors has stated they are projecting to see a continued increase of inventory over $350k this Fall, which has not happened since 2015. Unfortunately, there will still be significant demand for starter homes as the first-time home market continues to recover.

The growth rate is also expected to slow, to 3.2% in 2018 from a rate of 5.5% in 2017. As we have seen this past year, the entry level home price rates have risen faster than the higher priced homes. This will continue as the market sees an increase in inventory over $350k.

Millennials will continue to drive the market in 2018. Realtor.com predicts 43% of homes sold in 2018 will be to this group of buyers, up from 40% in 2017. Many of these buyers have already gotten into the entry level tier, and will begin to move up.

Investors are likely to continue to see strong competition for foreclosures, as the numbers of Bank-owned homes continues to dwindle, however, it should be noted that The University Financial Associates (UFA) Default Risk Index, which measures the risk of defaults on newly originated non-prime mortgages, climbed seven points between Q4 2017 and Q1 2018, hitting 108. This means the default of home mortgages is expected to be about 8% higher than those seen in the 1990s. And the January Performance Mortgage data from Black Knight Inc shows Mortgage delinquency rates 1.6% higher than in January 2017, and followed up by pointing out the 2017 hurricane season as a reason for the increase in delinquency with the top 5 states in terms of 90+ days delinquent percentage being Florida (3.96 percent), Mississippi (3.37 percent), Louisiana (2.68 percent), Texas (2.33 percent), and Alabama (2.13 percent).

And finally, the wild card; Tax Reform. While the State of Maryland will not see full benefits to some of the tax savings, due to Maryland being a high tax State, there is still enough benefit to buying a home as compared to renting the same home, to make it beneficial to home buyers, particularly in Southern Maryland where buying a home could save a home buyer thousands of dollars a year compared to renting. And there is still the mortgage interest deduction keeping that prospect attractive.

If you or someone you know is considering buying a home, please call DeHanas Real Estate Services at 301-870-1717. DeHanas Real Estate Services offers free buyer consultations, and can even help point you in the right direction for credit repair and understanding the financial preparations in buying a home. DeHanas Real Estate Services is locally owned and operated, licensed in Maryland, Washington DC and Virginia.