What To Ask Your Home Inspector

If you have not bought a home recently, you may not familiar with todays's home-inspection process. Here are some important questions and answers to concider:

1. Why do I need a home inspections?
Home inspection allows you to determine through expert examination whether there are flaws or problems in a home you are about to purchase. A smart buyer will always consider a home inspection contingency in their home purchase offer.
2.When do I call a home inspection? As soon as you have a signed purchase offer on a home, call to schedule a professional home inspection. Your purchase agreement may specify an inspection deadline.
3. What does a home inspector check in a home?
The inspection will cover the conditiona of the home's teating system, Central Air Conditioning system, plumbing and elevtrical systems, roof, attic and visible insulation, walls, ceilings, floors, windows and doors, foundation, basement and structural components.
4. What issues will a home inspection not cover?
If yo have concerns about lead, radon, mold, asbestos or other issues, be prepared to hire a separate specialty-licensed inspector who inspects for these issues. Your general home inspector can recommend local professionals.
5. How do I find a qualified home inspector? consider and inspector that is member of ASHI -the American Society of Home Inspectors. Visit their website at www.TinyURL.com/FindAnInspector. Depending on local ordinances, your inspector may need to be licensed.
6.Will I be able to attend the inspection? It's a good idea to shadow your inspector and ask questions along the way to learn more about the home.
7. How long will a home inspection take?
A home inspection can run two to three hours, but varies depending on home size, complexity and characteristics.
8.What will the inspection cost? Home inspection costs vary widely, but be prepared to budget several hundred dollars for a thorough inspection.
9.What type of inspection report do inspectors provide and will I get a copy?
Prior to inspection, ask to see other inspection reports to get a feel for style, thoroughness and terminology. Many inspectors provide reports within 24 hours of inspection.
10. What if the inspector finds problems with the home that need to be fixed?
Your Real Estate agent should advise you whether the home seller should make the repairs before purchase or be asked for a monetary credit to fix repairs after you move in. the home inspection clause in your home purchase contract may allow you to cancel the purchase and find another home to buy if the home repairs are serious or expensive and you do not want to take on the responsibility of that home.

Which Insurance Do You Need?

Home buyers are sometimes surprised to find out there's more than one type of home-related insurance. Here are the more common types of insurance products a home buyer is likely to encounter:

► Homeowners Insurance: Also called "hazard insurance"; it covers the dwelling and its contents for damage or loss resulting from events such as fire, wind, hail and theft. In most cases, it also protects the owner against claims by anyone injured on the property. Most homeowners’ insurance policies specifically exclude flood damage and limit the amount of coverage for items such as jewelry, antiques and collectibles. Additional "rider" policies may be purchased for items that exceed the maximum values of standard policy.

► Private Mortgage Insurance (PMI): Typically required by lenders to protect against default on loans for which the down payment is less than 20%. Usually, the PMI premium is paid a year in advanced at the settlement/closing, then monthly to the mortgage paydown reaches the 22% threshold (Under certain conditions, homeowner can request PMI cancelation when their equity reaches 20%)

►Title Insurance: Often required by lenders at the buyer's expense, title insurance protects the lender's interests against losses arising from claims on the property due to a defect in the title. Some buyers purchase title policies to protect their own interests, as well, should a claim on the home arise.

► Credit Life Insurance: Also called "mortgage life", this insurance pays off the remaining mortgage loan balance in the event the borrower dies due to reasons specified in the policy.

►Flood Insurance: Usually required by the lender if the property located within an area subject to periodic flooding. Home buyers may be able to obtain flood insurance through the National Flood Insurance Program (NFIP).
For specific insurance questions, contact your local insurance agent or broker.....

Experts disagree on housing recovery

Foreclosures, jobs to impact prices into 2011
Dian Hymer Inman News™

The National Association of Realtors (NAR) predicted the housing market would improve by the end of 2010. In September 2010, Lawrence Yun, NAR's chief economist, said that he expected the housing recovery to be "slow and gradual because of lingering economic uncertainty."

The 2010 housing market has been characterized by lower sales volume than a year ago. However, the median price increased 0.08 percent in August from a year ago. The number of homes sold nationally in August increased 7.6 percent from July, 19 percent below the August 2009 level.

August closings reflect sales made in April when the homebuyer tax credit was still available. We could see lower sales volume and median sale prices moving forward. This will vary from one area to the next.

Real estate is a localized business. In California, home sales for 2010 are predicted to rise 2 percent from the 2009 level. The median sale price is expected to increase 11.5 percent from a year ago to $306,500 and another 2 percent in 2011, according to the California Association of Realtors. The state's median sale price was $522,700 in 2005.

Research by First American CoreLogic indicates that 24 percent, or more than 11.3 million homeowners, have negative equity. Negative equity occurs when the unpaid mortgage balance exceeds the market value of the property. According to CoreLogic, homeowners with negative equity are unlikely to reach positive equity until 2015 or early 2016.

Foreclosures are one of the factors putting brakes on a housing market recovery. According to NAR, distressed sales accounted for 34 percent of homes sold in August, up from 32 percent in July and 31 percent in August 2009. Foreclosures will continue to impact the housing market in 2011.

According to RealtyTrac Inc., a foreclosure data company, banks took back 816,000 homes during the first nine months of 2010. Complicating the picture is that many mortgage lenders recently put a freeze on foreclosures to review documentation to make sure they hadn't cut corners when they evicted homeowners.

Some experts think the stall in marketing and completing sales of foreclosed properties will have little impact on the housing market. Others think that if the freeze lasts for months, it will have a negative impact on home prices -- pushing sales scheduled to close in 2010 into next year and making it impossible for some properties to be ready for the spring 2011 market. Already, some lenders have resumed processing foreclosures.

HOUSE HUNTING TIP: A recent nationwide survey done by Fannie Mae revealed that most Americans think the housing market has hit bottom. Some 67 percent believe that housing is a safe investment. Most consumers think that it's still a buyer's market. However, they are taking a more cautious approach to homebuying.

Some analysts think home prices could decline another 15 to 20 percent before stabilizing. Bill Wheaton, an economist at the Massachusetts Institute of Technology's Center for Real Estate, disagrees. He thinks the housing market will make a strong comeback and demand will return to pre-recession levels in 2011.

During a housing recession, builders stop building new homes. The Census Bureau reported that the number of new-home starts fell from 1.7 million in 2006 to less than half that amount in 2009. Wheaton expects the unsold inventory will be sold or occupied by 2013, and that it will take a long time for construction to meet demand. This could put upward pressure on home prices. Construction will provide jobs, which will have a positive impact on the overall economy.

No one knows for sure when the housing market will turn around or how aggressive the recovery will be. It's impossible to time the market. If you need to sell, you may do better selling sooner rather than later, depending on your local market.

THE CLOSING: Buyers should buy for the long term and below their means.

Source

В США объявили раздачу бесплатной земли

По меньшей мере в семи населенных пунктах страны можно получить бесплатный участок земли. Эта инициатива распространяется главным образом на граждан США – но, возможно, для иностранцев будут сделаны исключения.






Малые города США страдают от оттока жителей в города большие. Некоторые махнули на происходящее рукой, другие «стоят до последнего» и бесплатно раздают свои земли в попытке стимулировать приток населения.

Происходящее напоминает XIX век, когда в США был принят так называемый «Хомстед акт». По условиям этого закона, получить бесплатную землю мог любой человек, достигший 21 года и являвшийся главой семьи (или же одинокий). Получить землю могли как женщина, так и бывший раб, а также иностранец, выразивший желание стать гражданином США.

Телеканал CNBC составил список из семи населенных пунктов, в которых и по сей день можно получить бесплатную землю.

Марн, штат Айова.

В конце XX века население городка начало стремительно сокращаться и к настоящему моменту составляет порядка 149 человек. В попытке вернуть городу привлекательность власти выделили четыре бесплатных участка. Три предназначены под жилую застройку, один – под коммерческую. На строительство дома можно получить грант Агентства по развитию сельской местности, а также $10 тысяч из средств Совета по планированию юго-запада Айовы.

Для того чтобы получить бесплатную землю в Марне, необходимо предоставить подробный план дома, который на ней появится. Возбраняется ставить на участке трейлерные дома, а также разводить скот или лошадей.


Нью-Ричленд, штат Миннесота

Население городка составляет порядка 1 200 человек. На северной окраине города предлагается бесплатный участок земли под застройку жильем. Объект должен быть построен в течение года.

Получателю земли необходимо оплачивать услуги, предоставляемые городом (водоснабжение, канализация, уборка улиц). Их совокупная стоимость достигает $25 тысяч. Однако для успешных кандидатов эта сумма снижается до $14 тысяч, которые можно выплачивать в течение 15 лет вместе с налогами на недвижимость.


Штат Канзас

В штате Канзас предлагается столько бесплатной земли, что для обработки и хранения этой информации был сделан отдельный онлайн-портал под названием Kansas Free Land. Он содержит ссылки на более чем 12 населенных пунктов, от Херндона с населением 124 человека до Уилсона с населением 9 698 человек.


Беатрис, штат Небраска.

В городе создана новая версия «Хомстед акта», по условиям которой здесь предлагается несколько бесплатных участков земли по принципу «кто первый пришел – тот и получил». Права собственности на землю перейдут получателям после того, как они проживут на ней в течение пяти лет. В некоторых случаях на участках уже есть построенные дома. Судя по отсылкам к «Хомстед акту» XIX века, не исключено, что на получение участка могут рассчитывать иностранцы.


Маскегон, штат Мичиган.


Одноименные город и округ предлагают компаниям, которые создадут здесь 25 и более рабочих мест на полную ставку, бесплатный участок промышленного парка. Власти надеются привлечь представителей пищевой индустрии и провайдеров альтернативных источников энергии. За создание 25 рабочих мест полагается пять акров земли, 50 – 12 акров, 75 – 15 акров, 100 и более – 20 акров.


Кертис, штат Небраска.

Город с населением 832 человека предлагает более 10 участков земли в разных районах под застройку домами на одну семью. Три участка уже заняты. Особо отмечается, что участки находятся на мощеных улицах, а все необходимые коммуникации к ним уже подведены.


Кэмден, Новая Англия.

Город с населением 4 052 человека предлагает участок земли площадью 3,5 акра бизнесменам, которые создадут по меньшей мере 24 рабочих места. Главным образом власти заинтересованы в привлечении компаний, работающих в сферах биотехнологий, IT, финансовых услуг, кино, альтернативных источников энергии.

Для справки

Иностранный гражданин имеет право получить гражданство США при соблюдении всех следующих условий:
• если ему исполнилось 18 лет;
• если он легально въехал в страну и находился в стране минимум пять лет в статусе постоянного жителя;
• если является «высоконравственным человеком»;
• владеет английским языком на высоком уровне;
• знаком с историей США и их государственными институтами;
• готов дать присягу на верность.

Право на постоянное проживание в США можно получить несколькими путями, в том числе выиграв гринкарту или вступив в одну из программ инвестиций средств.

Howard County Market Statistics

Howard County Market Statistics show that 92 % of all sales in the county YTD were under $699,000.00. There have only been 12 sales over 1.25 million in the last year, that’s just about one per month.

The most listings active listings last month fell between $300,000 and $40o,000.

The average sales price is up from $423,000 to $434,000.

Inventory soared 20% compared to last October.

Contracts are down 20.3%

Maryland Housing Statistics October - Nov 2010

Maryland Housing Statistics were released this week revealing a downward trend in both settled and pending homes and an increase in active listings. Currently there are about 1,400 less pending contracts in the state of Maryland as there were in September of 2009. There are about 500 more compared to September of 2008 however. The active listing inventory crept up to 46,457 homes compared to 44,204 in 09 and 51,021 in 2008.




Many experts are expecting this inventory level to significantly decrease as active foreclosure listings are pulled off the market for review during the current robo signer debacle within the mortgage banking industry. Just yesterday 109 listings were pulled from MLS that were foreclosures actively for sale the day before. Of course these homes are not going to disappear forever. Inevitably they will hit the market again, most likely in a few months when the reviews of processes and files are complete by the auditors. Since typically from November 15th to January 15th is an unwritten moratorium period for the foreclosure industry (it’s simply ugly and creates bad press to evict someone around the holidays) this time frame will start early in light of what’s happening and a huge wave of foreclosures will hit the market next spring.

It is already expected that 2011 will see a minimum of double the amount of foreclosures put up for sale so now it is my prediction that an inventory wave of tsunami type proportions will come down on our market this spring and shoot the falling inventory levels to record highs. What does this mean to the consumer? If your a seller ...sell now! There will be less competition in the coming months. If your a buyer….wait till spring cause a buyer’s market awaits.

HEAT LOSS SOLUTIONS FOR THE HOME

With heating costs rising, people are eager to heat their homes without breaking the bank. But despite newer technologies that detect energy loss, many people waste energy because they lack fundamental knowledge of low tech fixes.
Check Insulation. Having a newer home does not guarantee that your insulation is adequate. Make sure your insulation depth is enough for today's standards. Filling in cracks and gaps, especially in the attic, will keep your home warmer in winter.

Remember Basements. We often ignore the basement. It can be a big source of energy loss. Use the spray foam around pipes that go outside. We seal our door that goes outside. It's really not necessary to use it during the winter. A piece of rigid foam cut to fit snugly can help quite well with heat loss.

Attics. Make sure the whole house fan is covered. Heat rises and much can be lost here. If you have pull down stairs, purchase a kit to cover the stairs or scuttle opening.
Seal duct joints and pipes If you have a forced air heating system you need to make sure that the ducts that carry the heat are sealed at the joints. Much heat can be lost this way. You can use foam here. Make sure if you are working around hot pipes or a metal flue to use a non-combustible high temperature product.

Plug the Fireplace, Close the Flue. When the fireplace is not in use make sure the flue damper is tightly closed. Using fireplace doors and chimney plugs can further prevent heat loss.

Remove or Cover Air Conditioners. Yes I know it's a royal pain, but you really must remove your window air conditioners every fall. You can't imagine how much heat is lost here; it also doesn't do the unit much good even if you cover it. If your unit fits in a wall opening, put an insulated panel over it.

How to Decorate Home Fast for Holidays

1. Think white. White branches sprayd white, flowering plants like poisettias, cyclamen or orchids add an elegant touch to any holiday.
2. For a festive table, fill a pretty bowl with red and green apples, oranges and lemons. Add springs of pine or holly among the pieces of fruit.
3. Cut long branches to place in large vase or even an umbrella stand.

Moving this Summer? Get Settled Before School Starts!

If you plan to move or change schools this summer, we recommend getting out early to look at homes! If you think about it - there are less than 60 days from now until the end of summer. That's not a lot of time to complete the home sale process and settle before the start of school. If you are looking for reliable information about the schools you are considering - these websites will help you make wise decisions when you select a school in a new community:

Baltimore County Public Schools - www.bcps.org

Baltimore City Public Schools - www.bcps.k12.md.us

Carroll County Public Schools - www.carrollk12.org

DC Public Schools - www.dcps.dc.gov

Howard County Public Schools - www.hcpss.org

Frederick County Public Schools - www.fcps.org

Montgomery County Public Schools - www.mcps.org


Great Schools is an also independent, non-profit organization that provides parents with information and tools to choose schools and support their children's education. Great Schools has information about public schools, private schools, charter schools, home schools, No Child Left Behind, and school choice options. Check them out at:

Great Schools at www.greatschools.net

School Matters at www.schoolmatters.com

Maryland Real Estate Statistics - May 2010

New Maryland Real Estate Statistics show Howard, Anne Arundel and Baltimore Counties UP and Caroline and Garrett counties down.

The Maryland State Association of Realtors released it’s May 2010 statistics today.

Prince Georges County showed the most significant increase in sales with a 61.7 % increase in pending units sold. P.G. County home sales surged from 494 last May to 799 this year.

Howard, Baltimore and Anne Arundel Counties all showed decent gains in units sold.

Garrett County, home to Deep Creek Lake showed a nasty 32% drop in home sales showing that the 2nd home buyer is slipping away in a cash strapped economy.

Average sales prices continued to decline:

5% Drop May 2009 -May 2010
11.8% Drop May 2009-May 2008
5.5% Drop May 2008 -May 2007

In May 2007 the average sale price was $366,072 compared to this May’s average sales price of $289,900

Big Question is will 2011 show an increase or a continued decline?

Foreclosure alternative gaining favor

By Kenneth R. Harney
Saturday, June 26, 2010

Short sales have been the hot solution for financially stressed homeowners and their lenders for the past year, but here's another potent foreclosure alternative that's about to take center stage: deeds in lieu.

Some of the largest mortgage servicers and lenders in the country are gearing up campaigns to reach out to carefully targeted borrowers with cash incentives that sometimes range into five figures, plus a simple message: Let's bypass the time-consuming hassles of short sales and foreclosures. Just deed us the title to your underwater home, and we'll call it a deal. We won't come after you to collect any deficiency between what you owe us on the mortgage and what we obtain from the home sale. We might even be able to wrap up the whole transaction in as little as 30 to 45 days. How about it?

Mortgage companies say troubled borrowers are increasingly signing up. One of the largest servicers, Bank of America, has mailed 100,000 deed-in-lieu solicitations to customers in the past 60 days, and its volume of completed transactions is breaking company records, according to officials.

What are deeds in lieu? The full name is deeds in lieu of foreclosure. They are voluntary transfers of property ownership from borrowers to creditors that make court-directed foreclosures unnecessary.

The concept is one of the oldest in real estate, but it got a special boost this year when the Obama administration included it as an option in its Home Affordable Foreclosure Alternatives program, and mortgage giant Fannie Mae cut the penalty-box time for homeowners who use the technique from four years to two before they can qualify for another home mortgage.

Deeds in lieu also are surging because they provide a win-win for borrowers and mortgage investors that short sales often cannot match. Tops on the list: speed. Travis Hamel Olsen, chief operating officer of Loan Resolution, a Scottsdale, Ariz., firm that works with lenders to solve troubled borrowers' problems, said deeds in lieu represent "a very expeditious way to move on" for underwater borrowers who are facing potential foreclosure.

"A lot of owners just want to be finished with it now," he said. "They don't want to deal with [the house] anymore." They don't want to deal with real estate agents or signs on the front lawn that reveal their financial squeeze to neighbors. They don't want to haggle with potential buyers coming in with lowball offers. But they also don't want to simply walk away -- strategically default -- because that will crater their credit files and scores for as much as seven years.

Greg Hebner, president of the MOS Group of San Diego, which also works with banks and investors across the country to resolve defaulting borrowers' situations, said a key motivation is that lenders are stuck with massive backlogs of underwater homes that haven't yet gone through foreclosure and been put on the market -- the so-called shadow inventory.


Not only is it cheaper for them to do deeds in lieu to gain control of those properties, but with mortgage rates below 5 percent, they also will probably be able to resell them faster and on potentially more favorable terms in the summer and fall.

"If you can get a lot of inventory moving in the next couple of months" of prime home-buying season, Hebner said, "you are solving a lot of problems."

Matt Vernon, Bank of America's top short sale and deed-in-lieu executive, said the technique works so well for borrowers and mortgage owners that his company is running pilot programs in major housing markets to alert borrowers who might benefit but are not familiar with deeds in lieu.

To sweeten the pot, Bank of America is offering cash incentives that range from $3,000 to $15,000 -- and is getting a strong response, Vernon said.

What are the downsides or limitations of deeds in lieu for homeowners? Probably the most important, experts said, is that they don't work for every situation involving serious mortgage default. For example, if you have equity in the property, you'll probably want to pursue a loan modification first, then a short sale, rather than hand your equity stake over to the lender.

Deeds in lieu usually don't work when there are multiple mortgages from different creditors encumbering the property. Also, though deeds in lieu do less damage to borrowers' credit histories than foreclosures or bankruptcies, they definitely leave a mark.

Fair Isaac, developer of the widely used FICO credit score, said on its "MyFico" Web site that deeds in lieu and short sales are treated as "not paid as agreed" accounts and are treated the same by the FICO scoring model.


Original article

Statistic report for home sales in Howard county Maryland

Based on Howard county Howard County Board of Realtors statistic report Real Estate market dropped 25.7 percent.

With the homebuyer tax credit expiring at the end of April the number of sales in the Howard County Real Estate market dropped 25.7 percent. the number of listings put on the market new increased with the spring season to a 13 month high at almost 1,300 homes for sale. Compare that to January’s 850 home inventory and you wonder if people even watched the news about the tax credit before strategically deciding when to sell their home.

Settlements spiked almost 40%!!!! This of course is due to the June 30th settlement deadline for the tax credit. You will see a good month next month with regards to settlements as well and then a significant drop in July.


Condo sales suffered a major drop to it’s lowest amount in a long time including the Holiday months of year end. You would have had better luck selling your condo at Christmas and Hannakuh time than you would have in May!

For Rent: 4BR/3+1BA Townhouse in Ellicott City, MD, $1,950/month

For Rent: 4BR/3+1BA Townhouse in Ellicott City, MD, $1,950/month

New Move-Up Buyer Tax Credit

Qualified move-up buyers may now take a $6,500 credit (($3,250 if married filling separately) for buying up to an $800,000 home by April 30, 2010, with closing/ settlement by June 30, 2010. They must have lived in their home for five consecutive years of the previous eight. A full credit is available to married-joint files that have Modified Adjusted Gross Income up to $225,000, with a reduced credit available up to $245,000. The income limit for single /married filing separately is $125,000, phased out up to $145,000. Other rules apply.
Remember, first-time buyers may still qualify for an $8000 tax credit($4000 if married filing separately) if they purchase by April 30, 2010.

Call or email if any questions.

Tatyana Baytler
443-527-4375

How to Calculate APR in Excel

How to Use Excel to Calculate APR

Foreclosure Properties in Howard county Maryland

List of bank owned properties for sale in Howard County.



Home Price Range
$0 - $200,000

Home Price Range
$200,000 - $400,000

Home Price Range
$400,000-$800,000

If you see something that you would like to see call me or email and let me know.

Tatyana Baytler
Phone 443-527-4375