CNN Money Reports: Politicians Pulling for Tax Credit Extension

Homebuyers could get more time for tax credit

By Tami Luhby, senior writer

 NEW YORK (CNNMoney.com) -- First-time homebuyers looking to land an $8,000 federal income tax credit may have a little more time to close on their purchases if a Senate amendment unveiled Thursday makes it into law. Click HERE for full article

Forbes Online Asks: Will The Home Buyer Tax Credit Help?

Will The Home Buyer Tax Credit Help?

Francesca Levy, 06.08.10, 06:25 PM EDT

The government incentive gave real estate a short-term boost, but critics wonder if it was worth the money.

t looks like a strong recovery is underway in the real estate market: Contracts on new homes surged in April, and the National Association of Realtors' pending home sales was up 6% from the previous month, and 22% from a year earlier.

But don't let appearances fool you. Gains in new home sales were likely due to last-minute bargain-hunters scrambling to take advantage of a federal tax credit for new home buyers, before it expired on April 30. And after that rush passes, sales are expected to fall during the usually active summer season.

Click Here for Full Article:

How much home can you get for $725,000

New York Times Monthly Feature: 

Property Values

What You Get for ... $725,000
 By MIKE POWELL

Published: May 18, 2010  Click here for Full Story

 

Forbes Online Discusses Loan Modification

Forbes magazine online loan modifcation advice

Foreclosures and problem loans have thrown millions of American households into crisis. Over 7.5 million mortgages are delinquent, and an estimated 1 million have been taken back by the banks, according to Lender Processing Services, a Jacksonville-Fla.- based mortgage-industry service provider.
In response, the government founded the Making Home Affordable program, with $75 billion in federal funds, to offer services--including loan modification--to certain homeowners. But navigating the thicket of paperwork and separating good from bad advice can prove downright daunting. And for some struggling homeowners loan modification may not even be the right option.(Click HERE for full article)

New Listing! 6401 Seat Pleasant Drive

6401 Seat Pleasant Drive, Carmody Hills/Capitol Heights Maryland 20743

offered at $148,000

2 Bedrooms, 2 bathrooms Completely renovated from the inside out.  Brand New, energy efficient windows, Gleaming hardwood floors, recessed lighting,  granite counters, new & matching kitchen appliances, 2 car concrete driveway, brand new vinyl siding , walk in master closet, Brand New HVAC system, Brand New Washer/dryer & hardware for a home security system.
This is home has quality construction & value!  Sellers offering $8000 closing credit for  full price offer,  couple that with  the first time home buyer tax credit  if you purchase before April, and a first time home buyer could be looking at $16k credit!  Do not miss out on this great opportunity.  For more information  Contact: Harrison Beacher (301) 448-6569

 

 Click here for HD Virtual Tour!

Hope for Homeowners message from Martin O'Malley

 Message from: Martin O'Malley/Anthony Brown

Friend —  Imagine having to look your children in the eyes and tell them you'll have to leave your home, maybe your whole community, for good. Over the course of the national foreclosure crisis, thousands of Marylanders haven't had to imagine this ordeal. They've lived it. And every uprooted family, every boarded-up house, affects all of us — our neighborhoods, our towns and cities, our state.
We can help more families stay in their homes — by forcing mortgage companies to give homeowners facing foreclosure a chance to negotiate better

terms on their loans.  Yesterday, Rep. Elijah Cummings and I urged the General Assembly to pass an emergency bill to do just that.  Join us in taking action today. Urge your state legislators to support the bill, and help protect our families and communities from foreclosures:
http://www.martinomalley.com/HopeForHomeowners
Since 2007, we've helped thousands of families hold on to their homes through programs like the Homeowners Preserving Equity (HOPE) initiative.  But thousands more could be saved if we act together to stop huge, faceless mortgage companies from crushing homeowners under their heel because they're more concerned with profits than with helping families stay in their homes.  Writing your legislators will only take a few minutes, and your support of this emergency bill could have an immediate impact. The emergency bill just needs three-fifths of the votes in the General Assembly to pass and be enacted immediately.
Help make today the beginning of the end of the foreclosure crisis in Maryland. Write your state legislators now:
Thank you,
Gov. Martin O'Malley


http://www.martinomalley.com/HopeForHomeowners

NBC washington Features 2 new listings in DC

NBC washington Features 2 new listings in DC

 

Every week NBC chooses a few new listings to feature as their "'Best New Listings" 

These two condos downtown offer the convenience of city life with a "View"

  of course the past few weeks the only view anyone has had  is  of   Snow, Snow and more snow.

Distressed homeowners get temporary reprieve

Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property. This is a part of their New  Foreclosure alternatives program, and will result in a lesser hit to their credit score. Read more below:
Citigroup to give 6 month Grace period on foreclosures

MSNBC reports that Mortgage rates Raise slightly

MSNBC reports higher mortgage rates

What can $1 million buy you?

a million dollar home can look very different depending on where you are in the country, ever month, the New york times does a feature article on how much home you can buy for the money in 3 different places around the country. This month they take 3 homes right around $1million dollars and  compare them.   CLICK HERE to read the article.

 Photo by Chip Litherland for The New York Times

A two-bedroom Mediterranean Revival in Sapphire Shores, a residential neighborhood in Sarasota, Fla., is on the market for $989,000

Fall Market

I love the Fall. We always get a small upswing in the market of serious buyers and really good listings and all the Realtors are back at work full time, nice and rested from summer vacation. Kids are settled into the school year and the Holidays are coming. Good, good, good. Interest rates, which dropped below 5% for thirty year fixed this month (!), are driving a fairly strong market. That, and the First Time Homebuyer Tax Credit I talked about last month seem to be working their magic. According to the National Association of Realtors, pending home sales have increased for seven straight months, the longest period since this index began in 2001. Interesting. This Fall the office is running particularly smoothly too because we have a great new assistant working with us, Harrison Beacher. Harrison is taking care of our administration and some of our marketing. He’s the guy that makes sure your open house ads are correctly placed and tracks our sales to settlement. Huge job but not so big that he hasn’t had time to sell. TWO transactions of his own already and assisted on two more. He’s really on the way to an outstanding real estate career. He’s the handsome dude on the right in the new team picture. Harrison is also helping bring us into the 21st Century with a minimum of trauma. He is twittering and blogging away on our website and on Facebook, keeping all of our listings fresh and in the public eye as well as digging out some fascinating real estate articles and information to keep us all abreast of breaking news, statistics, trends and the ever changing government programs that effect our industry. Maybe it’s that 2008 diploma from Tom’s alma mater, Georgetown University that makes him so good In any event, we welcome you to check out our website blog, friend us on Facebook or follow us on Twitter to see what we’re talking about. All the best – Barbara and Tom Long and Foster Real Estate, Inc

Originally posted 10.22.09

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The Department of Housing & Urban Development's Making Home Affordable Program

http://makinghomeaffordable.gov/

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Originally posted October 2009

What’s Your Home “Worth”?

With the upturn in the local real estate market – and it is BUSY out there, let me tell you – we are getting lot’s of calls asking us “what’s our house worth?” A variation on that theme are the buyers that, having seen a property that catches their fancy, will take a look at the list price and then ask us “what do you think it’s really worth”

“Well,” I say, “you’re the one that lives there, you tell me!”

Of course, I know that what they are really asking for is a dollar figure of fair market value because they are thinking about putting their home on the market (or refiancing or fighting an assesment, and we are here for that too!) And buyers are always right to evaluate past sales when considering an offer. No one wants to pay more than they have to for a home.

But sometimes in their zeal to take advantage of market conditions, buyers and sellers miss the most important aspect of a home sale – how does the property fit your personal needs? So when a seller says “I think it is a good time to sell” we always do a needs assesment to make sure that they really have “outgrown” their home or that downsizing makes sense. And the first question we ask is ‘do you like living here?’ When a buyer tries to decide between potential properties, we always try to find the one that makes sense first, and look at the “deal” second. After all, actually living in a house that is too large/small or in an inconvenient location for your family doesn’t feel like a very smart choice a year later, regardless of what a steal it might have been at the time.

So, just a reminder, as we head into what is sure to be a very brisk Fall market: we are here to help with both the dollars and the SENSE of your next home purchase or sale. Call us any time!

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Barbara and Tom Nalls
Long and Foster Real Estate, Inc.

Barbara’s Cell: 240-602-9035

Tom’s Cell: 301-237-5170

Office: 240-497-1700

Originally posted 08.27.09

Knocking Politely on the Front Door of the 21st Century

It was bound to happen sooner or later – Nalls Home Partners is Blogging! (For those of you who are guessing, yes, of course, it’s Barbara. But for the record, I will be STRONGLY encouraging Tom, Ron, Susan and Harrison to take a turn What this means is that you will be able to check in for up to date LOCAL Washington DC Metro Area real estate news and information: Market trends, Montgomery County and DC housing prices, Interest rates and transaction legislation. I will try to stay current – but please be patient through the website transition – and will be particularly looking forward to your comments!

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Originally posted 12/10/2008