Real Estate Information

We have just been made aware of an erroneous Facebook posting that if people opt out of buying health insurance and don't pay the penalty for not having it, the Internal Revenue Service will be able to put a lien on their home.  THIS RUMOR IS FALSE. 

Here is a third-party independent article that fully explains what the IRS can and cannot do to taxpayers who opt out of buying health insurance and don't pay the penalty.

Here's the latest information from The National Association of Realtors on the status of the USDA Rural Housing Loan Program in the wake of the Federal Government shutdown: For the U.S. Department of Agriculture programs, essential personnel working during a shutdown do not include field office staff who typically issue conditional commitments, loan note guarantees, and modification approvals. Thus, lenders will not receive approvals during the shutdown. If the lender has already received a conditional commitment from the Rural Development office, then the lender may proceed to close those loans during the shutdown. A conditional commitment, which is good for 90 days, is given to a lender once a USDA Underwriter approves the loan. If a commitment was already issued, the funds were already set aside and the lender may close the loan at its leisure. If Rural Development has not issued a conditional commitment, the lender must wait until funding legislation is enacted before closing a loan.

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.

Calvert County:

 

 

Chesapeake Beach Fireworks - Wednesday, July 3 @ Dusk, Chesapeake Beach Waterfront

Fireworks Cruise Aboard the Wm. B. Tennison - Thursday, July 4 @ 8 p.m. until... Calvert Marine Museum 14200 Solomons Island Road South, Solomons

Solomons - Riverwalk, Solomons, Maryland. The waterfront community hosts an afternoon street fair and fireworks. Street Fair begins at 3 p.m. Fireworks at 9:30 p.m.
 

Solomons Fireworks - Thursday, July 4 @ 9 p.m. Solomons Island-wide

The Solomons Business Associations proudly sponsors the annual Solomons Independence Day fireworks display, to be held on Thursday, July 4th at approximately 9:15 - 9:30 pm (after dusk). Fireworks will be shot from a barge in the Patuxent River and can be viewed from the Riverwalk. Celebrate our nation's birth, and show your colors all day long! The Fireworks will be preceded by activities throughout Solomons, sponsored by individuals and businesses.

- Stop by the tent at the Chesapeake Biological Lab campus for an afternoon of family activities - hands-on science, fishing games, nature crafts and more!

Rain date: Friday, July 5th. All efforts are made for the display to be held July 4th. If weather factors force a last-minute delay or postponement in order to maintain the safety of the crew and spectators, the fireworks will take place on Friday, July 5th.

Traffic: Vehicular traffic on the island will be restricted. Please park in designated areas only. Parking is available at Glascock Field across from the Calvert Marine Museum, at the museum, in the public lots behind Our Lady Star of the Sea and the Solomons Medical Center. Parking at Glascock Field is $10; proceeds support the fireworks fund and SYB Optomists. The public is asked to respect private property.

 

 

St. Mary’s County:

 

 

Hollywood Volunteer Fire Department - Saturday, June 29
24801 Three Notch Road, Hollywood
On Route 235 just north of the Leonardtown-Hollywood Rd (Rt 245) intersection

Independence Day celebration featuring entertainment provided by R&R Train.  Carnival rides and games starting at 5pm, food available for purchase. Fireworks begin at dusk. Parking is $5, no coolers or pets allowed.  301-373-2900. Hollywood VFD Web site: www.hvfd7.com.

St. Mary’s College River Concert Series - Friday, July 5
Near the Townhouse Green Residences
College Drive, St. Mary's City

A Star Spangled Night with a Musical Tribute to the Sea featuring vocalist Jennifer Page.  Enjoy fireworks to the patriotic music of John Phillip Sousa. River Concert Series Web site: riverconcertseries.org

Dennis Point Marina - Saturday, July 6
46555 Dennis Point Way, Drayden, MD

The return of Fireworks to Dennis Point has been a great success and we look forward to doing it again for the 2013 season. This year the fireworks will be held at Dennis Point Saturday, July 6th. Make your reservations early, we expect large crowds this year. There will be events all day starting with the annual golf cart parade. Rick's Riverside Restaurant will be open all day. Rick has special plans which include restaurant specials, outside deck specials, vendors serving a variety of dishes along the waterfront and activities all day. Come early and enjoy Independence Day at Dennis Point. Thank you for being a part of the new Dennis Point Marina & Campground.

 

 

Charles County:

 

 

Town of Indian Head 4th of July Celebration & Fireworks - Thursday, July 4
The Village Green and Pavilion
100 Walter Thomas Road, Indian Head

The Day kicks off with a Patriotic Opening Ceremony at 3:30pm; there will be amusements, live entertainment--with Rockin Roger DJ, and food available for sale. No pets of any kind or alcoholic beverages permitted. No flea market on Sat., July 6th.
Free admission.  For more information call 240-375-4061 Visit the Town of Indian Head Web site: www.townofindianhead.org

Celebrate Charles - A Fun Filled Fourth - Thursday, July 4 @ 4:30 - 9:30 pm
Regency Furniture Stadium
11765 St. Linus Dr., Waldorf

The general public is invited to attend this family-friendly event.  Local businesses, artisans and food establishments will be showcased in the "Best of Charles County" and kids of all ages can enjoy amusements in the Celebrate Charles Family Fun Zone. Guests will enjoy live music performed by John Luskey and Three Sixty. A fireworks display will top off the evening at 9:30 p.m. Admission is free. There are fees for food and product purchases. Family Fun Zone wristbands are $5.

Guests will also be able to enjoy the Southern Maryland Blue Crabs baseball game against the Camden Riversharks. Game time is 6:35 p.m. and tickets can be purchased by calling 301-638-9788 or visiting http://www.somdbluecrabs.com . Guests who purchase a ticket to the game will receive a complimentary wristband for the Celebrate Charles Family Fun Zone.

For more information, go to http://www.CharlesCountyMD.gov or contact Ms. Rachel Reynolds, Promotions Specialist, at 301-645-0601 or [email protected]. Citizens with special needs may contact the Maryland Relay Service at 711, Relay Service TDD: 800-735-2258.

Town of La Plata Independence Day Watermelon Bash - Thursday, July 4 @ 11 a.m. - 2 p.m.
Grounds of the La Plata Town Hall
305 Queen Anne Street, La Plata

Join us for hot dogs, games, wet fun, and plenty of watermelon! Event is wheelchair accessible.Town of La Plata web site: www.townoflaplata.org

A persons credit rating has never been more important than it is today!  As mortgage companies maintain a very tight leash on home borrowers, what their credit looks like will mean the difference between getting approved for a home loan or not.  And that is not all.  Credit ratings affect the outcome of rental applications, job applications, and even basic necessities like electric and gas are based on a persons ability to manage credit. Furthermore, if a person who has poor credit is approved for a loan, it is generally at a higher interest rate, meaning they pay more for the same loan that someone who has good credit.

The score used by most lenders and others considering a loan is called a FICO.  This is a score that is computed from a variety of different areas in a persons financial activities.

There are no overnight remedies for increasing your score, but there are some things that a person can do to "massage" their credit:

-Know what is on your credit.  Sometimes there are items on a persons credit report that do not belong to them.  There are methods for disputing erroneous information.  Contact each of the credit reporting agencies (there are three of them) and ask how you dispute information on your report.

-Pay your bills on time.  A late payment, even a few days late, can impact your credit rating.

-Make more than the minimum payment on your credit cards.

-Make payments early on credit cards.

-Make multiple payments in the same billing cycle.

-Never use all of the credit you have available.  Keep your balances low.

-Keep older accounts open to establish a "history".

-Open new credit accounts as you need them, and keep up with the payments.

If you are one of those people who have difficulty managing their money, you need to have a written budget for yourself.  There are plenty of on-line tools to help, like Quicken. Also, many banks have online budgeting tools you can utilize to never miss a payment.

If you are already in way over your head, do not get discouraged.  Take baby steps and begin getting things paid off. There are also credit experts that can help if needed. Having poor credit can be a temporary situation if you take the positive steps towards resolving it.

 

 

Government Housing giants Freddie and Fannie are under-prepared for new wave of foreclosures

When Americans default on federally backed mortgages, the Government steps in and “buys” them from mortgage companies, and then incurs the cost to keep them maintained as they attempt to sell them on the market. The problem is, there is a staggering 1.7 million mortgages near default, and some economists are questioning whether HUD is ready for a new wave of foreclosures to hit.

Currently, the government is stretched thin in managing the more than 195,000 foreclosed homes it now owns and is not well prepared to handle a new wave of foreclosures that is about to hit, according to some economists who paint a less rosy picture of the housing market than politicians.

In fact, as of June 1, 2013, the inspectors general at the Federal Housing Finance Agency (FHFA) and the Department of Housing and Urban Development (HUD) warn that a staggering 1.7 million mortgages are 90 days or more delinquent, putting them in danger of Foreclosure.

The inspector general's report warns the housing market remains in a delicate state, with 1.7 million potential foreclosures  swelling on the horizon. Additionally, it is noted, the serious delinquency rate has hovered at 9.4 percent, or about 1.4 percent higher than a year ago.

Executives at Fannie Mae told the FHFA inspector general that "due to the high numbers of delinquent borrowers, among other challenges in the housing sector," it does not expect its inventory of repossessed houses to "return to pre-financial crisis levels for years."

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.   

There's the old saying that two things in life are certain; death and taxes! Taxes are the hot topic these days, and our friends at Southern Maryland Law have some great advice for tax payers.

http://www.southernmarylandlaw.com/tax-time-is-the-best-time-for-preventative-legal-medicine/

The Federal Housing Finance Agency (FHFA) has announced the extension of the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013. We applaud this decision and will continue to fully support HARP for eligible homeowners seeking to avoid Foreclosure.
 

The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013.

“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rates.”

 

In addition, FHFA will soon launch a nationwide campaign to inform homeowners about HARP. This campaign will educate consumers about HARP and its eligibility requirements and motivate them to explore their options and utilize HARP before the program ends. HARP is uniquely designed to allow borrowers who owe more than their home is worth the opportunity to refinance their mortgage. Extending the program will continue to provide borrowers opportunities to refinance, give clear guidance to lenders and reduce risk for Fannie Mae, Freddie Mac and taxpayers.

 

To be eligible for a HARP refinance homeowners must meet the following criteria:

 The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.

 The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.

 The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.

 The current loan-to-value (LTV) ratio must be greater than 80 percent.

 The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.

Borrowers should contact their existing lender or any other mortgage lender offering HARP refinances. Check here to see if your loan is owned by Fannie Mae or Freddie Mac.

Fannie Mae and Freddie Mac have helped approximately 2.2 million borrowers refinance their homes since HARP was introduced by FHFA and the U.S. Department of the Treasury in April 2009.

Homeowners who have experienced a hardship, and do not qualify for this program, should be aware there are other alternatives to Foreclosure.  Please contact your Certified Distressed Property Expert at DeHanas Real Estate to learn more details.

For homeowners who are in danger of losing their home to Foreclosure, it is common to feel like you are all alone and that there is no one who can help. This simply isn’t true. There are real people who have been in the same situation who have found solutions. Take, for example, Dan and Jessica M. of Grand Blanc Township, Michigan.

For Dan and Jessica, their homeownership dream always involved building a house on a piece of land. “We build a house on half an acre,” said Dan.

 

In order to achieve their dream, they stretched a little beyond what they were comfortable with by getting two adjustable rate mortgages, a common practice at the time. “The introductory rates were 8.5% and 11.5%, but our lender said, ‘Don’t worry, you can refinance after two years.’”

 

For a while, they were getting by. Then, a couple of things happened. “We had our first child, and soon afterward, Jessica lost her job,” said Dan. “Soon, bills started piling up.”

 

Because they believed they’d be able to refinance, they started paying their bills on credit cards. “We hung on for the full two years hoping we could refinance at a lower interest rate, but when the time came, our lender said no because our home’s appreciation was too low.”

 

Dan and Jessica needed help. A friend referred them to a real estate agent who was a Certified Distressed Property Expert®. The agent answered their questions. Most importantly, the agent explained the difference between a Foreclosure and a short sale. In a short sale, the bank agrees to allow the home to be sold for less than the amount due on the loan.

 

“With this information, we were able to decide that a short sale was our best option.”

 

It was a stressful process, but the agent helped them tremendously. She even kept a potential buyer from walking when the process was taking longer than expected. “Honestly, if it weren’t for her, the buyer would have left and we’d have been stuck.”

 

Dan and Jessica’s story is just one of many. I have a report entitled “How to Avoid Foreclosure” which tells other stories of real homeowners who faced foreclosure and found relief. Download the report, read the stories, and then contact me for a free, confidential consultation.