Ellicott City Maryland Real Estate News & Listings Presented By Keller Williams Select Realtors

BEAUTIFUL WATERVIEW TOWNHOME IN FEDERAL HILL

Fri, 22 Jan 2010 07:11:57 GMT

Open House Sunday March 7th 1-3pm **Amazing Townhome in Federal Hill,4 Bedrooms 3 Bathrooms,2 Car Garage!Rooftop Deck w/Unbelievable Water & City Views! Hardwood Floors Though-out,Gourmet Kitchen Incl: Granite,Double Oven,Gas Cooktop,Staineless Appl's, Recessed Lighting, Owners Suite w/Custom Owners Bathroom, Wet Bar w/ Fridge and Granite on 4th Level -This is a MUST SEE -Check out Pic's & Virtual Tour.

Ellicott City ~ $415,000

Mon, 30 Nov 2009 18:29:41 GMT

Recently updated 3 BR 3BA rancher located in private cul-de-sac in Font Hill. Updates include new roof, new LowE Argon gas filled windows,new 6 panel doors, new exterior door and new gutters. Refinished hardwood floors and freshly painted. LR features woodburning fp with builtins. Kitchen features ceramic tile floor, gas stove top, built in Microw and wall oven. Just needs your finishing touches!

Ugly Changes to FHA Condominium Loans

Wed, 12 Aug 2009 21:43:00 GMT

Once again from our friends at M Point Mortgage:

HUD Condominium Approvals Effective with Cases Assigned 10/1/09

Loans with case numbers ordered on or after October 1, 2009, are subject to the new condominium procedures outlined by HUD in Mortgagee Letter 2009-19.

1. Spot Loan Condo Approvals are no longer allowed.

2. Any condominium that has not been approved by HUD 10/1/09 or later will require full condominium review and approval by HUD. Only exceptions: FHA to FHA streamline refinances or sale of a HUD REO by HUD’s Real Estate Owned Division. Even on approved projects lender will be required to certify that we have no knowledge of circumstances or conditions that might have an adverse effect on the project or cause a mortgage secured by a unit in the project to become delinquent.

3. Maximum FHA Concentration – HUD is limiting the number of FHA insured loans to 30% for any project. This is a very big change. Per HUD recent HUD conference call, the plan is for FHA Connection to be capable of monitoring. It is imperative that case numbers be ordered correctly with the correct project approval code. If the project is not at maximum concentration a case number will be assigned; if the project is at maximum concentration and not eligible for another FHA loan the case number will not be assigned and a message issued stating that. As loans are paid off within the project Connection will be updated by HUD “freeing up” units for new case assignments.

Beauty in Ellicott City

Fri, 31 Jul 2009 20:04:48 GMT

COMING SOON!! Call Frank for Detail 240.375.3361

Clearwater Beach Single Family Home

Wed, 27 May 2009 04:57:46 GMT

OPEN HOUSE SUNDAY 8/16 1- 3 p.m. - A MUST SEE! Move in Condition! 3 bedroom, 2 full bath, living room, family room/dining room combo, kitchen, seperate laundry room with a large backyard and two storage sheds awaits a home buyer This house is ready to move in. New Paint, New carpet, New windows!!! Single Family home at a Townhouse Price!!

Piney Orchard Townhome

Wed, 01 Apr 2009 05:43:48 GMT

OPEN HOUSE 8/16 1-3 p.m. - Sought After Piney Orchard Brickfront Townhome Featuring 3 Finished Levels, Fresh Paint and Move In Condition, Backing to Wood! Open Floor Plan with Deck Off of the Kitchen, Upper Level Presents 2 Spacious Bedrooms, Fully Finished Basement w/ Walk out to Fenced in Backyard. Piney Orchard Features Indooor and Outdoor Pools, Walking and Bike Paths, Gym and Much Much More! Located Minutes to Ft.Meade, NSA,B/W Parkway,Rt.32,MARC Train

What is a Short Sale??

Thu, 12 Mar 2009 20:34:00 GMT

A short sale is a complex real estate transaction where the lenders agree to allow a homeowner to sell their property for less than the amount owed on the property. In other words, it is like a normal real estate sale, with a buyer and a seller, but in a short sale the contract between the buyer and the seller is subject to the third party approval of the lender(s) or mortgage servicer(s) of the outstanding loan(s). The reason the real estate transaction is subject to the third party approval of the lender is because in a short sale the lender must agree to write off or take a loss on the portion of a mortgage that is higher than the value of the home.

A short sale is a difficult residential real estate transaction to manage and get approved by the lender. It involves almost as much paperwork as it took to obtain the mortgage itself, and generally requires the homeowner to prove a financial hardship as to why the short sale should be approved. Not all lenders will accept short sales or to write off any portion of a mortgage. Often lenders are not satisfied with the payoff in the contract between the buyer and seller so there is much negotiation between the parties. The paperwork involved in a short sale is unique and each lender often has different procedures in place for handling short sales.

Brookmill Condos

Tue, 03 Mar 2009 23:31:45 GMT


REDUCED 5000.00 Ex. Cond. all on one floor living on Top Floor in sought after condo community. Living room, dining area, washer and dryer, Balcony overlooks the common area. Quiet area in popular Brookmill close to I 95, Rt. 29. Home warranty offered by the seller. Crown molding, newer stove, updated floors, freshly painted, huge walk in closet, NOT A SHORT SALE!

Completely Redone Colonial

Tue, 03 Mar 2009 23:18:37 GMT

REDUCED! Opportunity to own completely redone Colonial with New Carpet,new hardwoods,new custom gourment kitchen,new bathrooms with ceramic tile tub and floors. ALL new HVAC,new hotwater heater,new roof, and a two car parking pad. Flat yard with shed on a child safe dead end street. Minutes from 95. OWNER FINANCING AVALIBLE, LEASE W/OPTION OR RENT TO OWN

Waterfront in Columbia

Mon, 02 Mar 2009 04:44:34 GMT

Waterfront Home in Columbia 5 Bedrooms on Upper Level, 2 New Bathroom, Brand New Gourmet Kitchen, Ceramic Tile, New Carpet, New Paint. Welcome Home to this well kept, clean and updated colonial located in quiet community of Columbia. Waterfront!!

ICF Home in Howard County

Sun, 22 Feb 2009 00:18:38 GMT

Custom Home on Peaceful Setting. The 1st ICF(Insulated Concrete Forms) Home in Howard County! All Brick & Stone Home on approx. 9 rolling acres, 7 Bedrooms 5.5 Bathrooms, 5 Fireplace, No Detailed overlooked, Soild Hardwood Flooring on Main & Upper Level,Bonus Rooms/Exercise Room/Office/3+ Car Rear Load Garage, 2 Owner Suite on Main Level, Stone Fireplace's Inside and Outside!!

New Construction!

Wed, 18 Feb 2009 00:54:17 GMT

OPEN HOUSE SUNDAY's 1-3 pm Featuring "The Edison" a Custom Built Classic Colonial home ready for delivery now. You must see this EnergyStar rated quality built home that is more than 50% efficient than most. Many features for you to enjoy are double hung tilt windows, brushed nickel faucets/fixtures, 9 Foot ceilings,rough in for Full bath in lower level with walk up, W/D on bedroom level.Pick out appliances, but hurry ! +Builder Incentive paid Closing Costs.

New $7,500 Tax Credit for First Time Buyers

Wed, 31 Dec 2008 18:00:00 GMT

The Housing and Economic Recovery Act of 2008 was just signed by President Bush with some amazing benefits for first time homebuyers. Call everyone you know who wants to buy their first home (or who hasn't owned one in three years), this is too good to miss - it's a $7,500 tax CREDIT (not deduction but a credit).

If you have not owned a home in three years, you qualify as a first time home buyer. If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for this credit. Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify. It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit. In other words, you take $7,500 off your tax bill. But there is a catch; the credit you receive now is actually an interest-free loan that must be repaid.

The loan has no interest, and will be paid back over 15 years. You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment. You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year. If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house? You pay the balance back at the closing. So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house. What happens if you do not make enough money when you sell your house? They forgive the rest of the debt.

Other restrictions stipulate that you have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the US.

If you'd like to learn more about this program, please call me!

Should I Buy a Home Now?

Wed, 31 Dec 2008 18:00:00 GMT

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.