Nottingham, MD Real Estate News

By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
96% or 4% To which group does your Seller belong? Let us assume, based on data that I have seen, that 30% of Homeowners own their homes free and clear, or that they have no mortgages or liens against their homes. Second, of those remaining 70% of Homeowners who have mortgages, 94% of them are not  behind on their payments or in danger of foreclosure or the like.  This is equivalent to 65.8% of all Homeowners. The combined total of the 30% of Homeowners, who own their homes without a mortgage, plus the 65.8% of Homeowners, who are not behind on their mortgages, equals a total of 95.8% of all Homeowners. Almost 96% of all Homeowners are not in danger of foreclosure and the remaining 4% are in danger. In the current realty market, nearly 50% of all sales are for distressed properties, or S...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
What Was the Real Price? A homeowner owes $250,000 on their house, but the market indicates that it is only worth $200,000. They need to sell, so they sell it short, or for $200,000. They are forgiven the $50,000 difference. Recap: They had a house and owed $250,000 on it; they now do not have a house and now owe nothing. Was the price $200,000 or $250,000? To the Buyer of this house it was worth $200,000, but to the Seller it was worth $250,000. When appraisers look at this house for future price comparisons, they look at the $200,000 sales price as the value. In a normal market, this house may be ignored as a comparable, because it was a distressed sale.  In today's market, 50% or more of the sales are distressed so they have become the norm. If 30% of homeowners own their homes free ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
$8,000 Just for You. Fist time, second time, and maybe even third time home buyers may qualify for this freebie. That's right; $8,000 is waiting for you. No, we will not take you deep down into the dark dungeons of the publisher's clearing house for this $8,000. You do need to purchase a home before December 2009, but that may be the easy part. Mortgage interest rates are incredibly low, and we are not talking about those ridiculous sub prime loans that got so many people into trouble in recent years.  We are talking about legitimate fixed rate loans. . . . and home prices are at the lowest that we have seen in years, with many homes from which you can choose. Let's recap: Low Interest Rate Loans; Low Home Prices; Lots of Homes Available; and $8,000 Just for You Not only is this an incr...
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By Phillip Cross, ePRO Realtor - Relocation Spec
(TBD - In transition...)
This is a synopsis of sales activity in the Nottingham Communities and neighborhoods. I am providing information on homes that have sold as well as Homes for sale. SOLD SINGLE FAMILY DETACHED HOMES There have been 13 sold. Average Sales Price was $256,485 Average Days on Market was 89 TOWNHOMES/ROWHOUSE There have been 18 sold. Average Sales Price was $223,561 Average Days on Market was 79 CONDOMINIUMS & Others There have been 3 sold. Average Sales Price was $170,300 Average Days on Market was 186 FOR SALE SINGLE FAMILY DETACHED HOMES There are 81 available. Average List Price is $329,980 Average Days on Market is 143 TOWNHOMES/ROWHOUSE There are 60 available. Average List Price is $230,212 Average Days on Market is 77 CONDOMINIUMS & Others There are 34 available. Average List Price is ...
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By Mike Klijanowicz, Associate Broker @ Cummings & Co. Realtors
(Cummings & Co. Realtors)
ANOTHER OAKHURST TOWN HOME SOLD IN PERRY HALL BY MICHAEL D. KLIJANOWICZ!  This one was SOLD WITHIN 30 DAYS!  If you own a townhome in Perry Hall and are ready to sell it, give Mike Klijanowicz a call! 23 HALLVIEW COURTNOTTINGHAM, MD 21236TOWN HOMES FOR SALE IN PERRY HALL, MARYLAND LISTED EXCLUSIVELY BY Michael D. Klijanowicz (Agent with Long and Foster Real Estate, Inc.)OFFERED AT $229,500 DESCRIPTION: BEST BUY IN OAKHURST! This 4 Bedroom Open Foyer townhome is ideally located at the end of the court & FEATURES: Brick Front,Large Eat-in kitchen w/bay window-New cabinets-Ceramic Tile floor-NEWER Appliances-&table space,NEWER Washer & Dryer,2 Custom Decks,Fully Fenced in Rear Yard,Master Bedroom w/Full Bath & his/her closets,2nd full bath is also on upper level,Fully Finished Basement,NO ...
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By Mike Klijanowicz, Associate Broker @ Cummings & Co. Realtors
(Cummings & Co. Realtors)
ATTENTION FIRST TIME HOME BUYERS IN NOTTINGHAM, MARYLAND ACT NOW AND GET UP TO $8000 BACK!!!!! If you are a Nottingham, Maryland First Time Home Buyer (or know someone else who will be), NOW IS A GREAT TIME TO BUY A HOME!  The enhanced first time home buyer tax credit stimulus makes it easier and more affordable than ever to buy your first home - through a tax credit of up to $8,000 in government incentives as a part of the economic stimulus plan that was just passed and enacted into law by Congress.  Couple that with Mortgage Rates at ALL-TIME LOWS, choices of existing home inventory at ALL-TIME HIGHS, sellers who are willing to accept significantly less than full price offers and are also willing to contribute toward your closing costs, NOW IS THE TIME TO BUY A HOME IN NOTTINGHAM, MAR...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
SELL THAT HOUSE: THE WORKSHOP  So you want to sell your house, but you have no idea as to how it is done.  ----How do I determine a reasonable price?  ----How do I evaluate the potential buyers?  Are they qualified?  Can they afford it?  ----What are the impacts of any given contingency in the contract?  ----What documentation is required for me to meet the law?  ----How should I stage my house?  Is painting or carpet necessary?  ----Can I just sell it in an "as is" condition?  ----How do I make my house accessible, without missing potential buyers?  ----How do I find buyers?  ----How do I evaluate real estate agents for listing my house?  What do they charge?  ---- . . . and your list of questions may go on and on.  At the "SELL THAT HOUSE: THE WORKSHOP" presentation you will find answ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Sell That House: We Buy Houses   We buy houses.  You have probably seen their signs or heard their advertisements on the radio.  Even in a difficult real estate market, they are spreading their message.  But, who are these people and how can they constantly be able to buy houses?  Where do they get the money?  What do they do with the houses?   Let's take a look.   First, they are investors and investors want to make money.  Since they have been around for awhile now, even in tough economic times, it is likely that their business model is working for them.  They are making money.   When they approach a homeowner who is considering selling his or her house, there will be certain things that are in their presentation.  Here is what you can expect:   We will pay cash; We will settle quickl...
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By Mike Klijanowicz, Associate Broker @ Cummings & Co. Realtors
(Cummings & Co. Realtors)
OPEN SUNDAY 2/15/09 2:00PM - 4:00PM 5310 MYERS ORCHARD WAYORCHARD CROSSINGMLS #BC6830282BALTIMORE COUNTY, MARYLANDPERRY HALL, MD (21128) OFFERED AT $449,900 DESCRIPTION: 4% COMMISSION FOR ACCEPTED OFFER BY 3/31/09!  TRUE LUXURY LIVING IN PERRY HALL, MARYLAND!  This Amazing Home Has Over 4000+ Finished Square Feet with over $65,000 in Upgrades and Many of today's most coveted Amenities:  Stone Front, Gourmet Kitchen with Granite Counters, a Huge Island with Breakfast Bar, Double Oven, 42" Cabinets, and even an extended area for extra table space too with a sliders to your rear yard.  It also has a 2 Story Family Room with an Upgraded Window Package with 6 Huge Custom Windows for plenty of natural light, an Office/Library on the main level, 9FT ceilings on the 1st and 2nd floors, Dual Zon...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: The Fix-up Loan  Have you been looking for a house for some time now, but you have not found the one that is just right for you?  It could be for any number of reasons that the houses that you are seeing do not meet your requirements. The layout is all wrong; The kitchen cabinets and counters are old and warped; The baths were in style back in 1945; You would be embarrassed to bring your friends and family to the place; The windows are of the old and energy wasting single pane variety; The furnace looks like the space capsule; The hardwood floors would be nice if they were sanded and buffed; The walls need to be painted after you scrub off years worth of cigarette deposits; The basement is dark, damp, and downright spooky; ... And, yes, unfortunately, the list can go on ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: Renting versus Buying When you do your grocery shopping, do you compare apples with oranges, tomatoes with ketchup, ground beef with steak, or so on and so on?  Perhaps you do, but you recognize that there is a difference. When you look for a place to live, is it appropriate to compare renting to buying?  Yes, indeed, it is appropriate, but you must recognize the differences. Let us assume that the average home sells for $350,000 in a certain area, which depending upon the means of purchase, could mean several different possible monthly payments, but for the sake of discussion, let us say that it is $2,500 per month in a monthly mortgage payment, which would include principal, interest, taxes, and insurance. If in that same area the average rent is $1,000 per month, then...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: Supply and Demand Supply and Demand: We frequently hear this term, but what does it mean? Basically stated, the operation of supply and demand is what sets the prices in a market. In the real estate market when the supply of houses is higher than the demand from buyers for houses, then the price of houses will decline; this is considered a "Buyers Market".  When the supply of houses is lower than the demand from buyers for houses, then the price of houses will increase; this is considered a "Sellers Market". There are many factors which can affect this balance between supply and demand.  Some of the major factors include the following: Interest rates: the lower interest rates are the more affordable a home becomes, hence increasing the number of buyers; however, as the n...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: FSBO; The Seller's MotiveWhy does someone decide to sell their house on their own?  The number one reason, in the mind of the seller, is to net more money in the transaction.  Their belief is that if they do not have to pay a commission to a real estate agent, then they will have more money going onto their side of the ledger.Why does someone decide to buy from someone who is trying to sell their own house?  The number one reason, in the mind of the buyer, is that they will pay less for the transaction.  Their belief is that if there is no real estate commission to be paid, then there will be less money needed to complete the transaction.Notice that both the seller and the buyer think that they will be paying less money, which suggests that they will split the savings.  ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: 15 versus 30 Year Mortgage Is it better to have debt for 15 years or for 30 years? Since, generally speaking, debt is not a good thing, it would be better to eliminate a particular debt sooner rather than later, or within 15 years instead of 30 years.  If a house is purchased for a certain amount and the choice is between a 15 year and a 30 year mortgage, then the total outlay to pay off the loan would be less by using the 15 year versus the 30 year.  Take a look at the example below: Loan Amount: $275,000; 5% Down Payment; Rate for a 15 year is typically lower than a 30 year. --------------15 Year at 5.625%-----30 Year at 6.125%---Equity Difference Pymt--------$2,265.27---------------$1,670.93------------ Balance: Year 1------$262,979----------------$271,701------------...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: Real Estate and the Normal Distribution Many things in nature, economics, and other areas have quantitative data which can be normally distributed.  If one were to graph this data, it would tend to look like a bell, whereby the majority of the data points would fall in the middle and fewer and fewer points would fall to the left or to the right of this central tendency the further the points were from this center.  Generally, this phenomenon is true in real estate.  If the sales price from a particular region for like homes sold in a relatively close period of time were plotted, then they would probably form a bell curve.  The central tendency would most likely correspond to the average of the sample, and the points which were to the left or right of the center would sti...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: Are You Getting a Good Deal?  3 years ago the real estate market was in very good condition. Prices were rising at extraordinary rates. Interest rates were low, so these properties were still affordable even at higher prices. Lots of people were selling and lots of people were buying.   Many people were skeptical about this boom in prices, referring to it as a bubble and asking when it would burst. Indeed, it did burst. Prices began to come down. While prices were coming down, many people were reluctant to believe that values were coming down as well. What used to be an appreciating product in most markets was now a depreciating product in most markets. Real estate was losing value almost at the rate that an automobile would lose value. The slow acknowledgement of this c...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Buy That House: Lenders are Knocking Down My Door What came first the credit squeeze or the severe decrease in people looking for credit? I have a constant flow of lenders beating on my door; begging me for referrals to my Buyers. Some tell me that they have 100% financing available; one told me that his office would buy down the rate for the first year by 1% without charging it elsewhere within the loan. I would love to give them my business if I had more to give. . . . but where are all of the Buyers, especially those who supposedly are having trouble getting financing?  Are they waiting for the media to tell them that it is okay to get back into the game? (Fat chance of that happening.) Closing Assistance Programs are offering $10,000 where the debt would actually be forgiven within ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
BRAC Relocation   Are you a part of the Defense Base Closure and Realignment (BRAC)?   If you are part of the many from Fort Monmouth, New Jersey who are being impacted by that base's closure and who are being relocated to Maryland to either Aberdeen Proving Ground or to Fort Meade, then I can assist you in your relocation efforts.   As a seasoned real estate professional, who is very familiar with the Maryland real estate market, I can provide you with valuable information regarding housing to buy or to rent, loans including VA and FHA which require very little down payment if any, neighborhoods, schools, and the many important facts that you will need to know in order to make a smooth transition.   My affiliation with one of the area's top realty firms, ExecuHome Realty, and my associ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
SELL THAT HOUSE : AS IS? Home sold strictly as is; owner will make no repairs; home inspection for informational purposes only . . . CLICK . . . If I am an investor, then there is more chance that I will look at these houses, because I am expecting to need to do work and I am prepared to handle the work, however, if I am an average home buyer, then I am not necessarily looking for a home which needs work.  Now, I realize that "as is" does not by itself mean that a house needs work, but it has a strong connotation that is what is meant.  Perhaps you have read some of these remarks about a property: Everything is new; sold strictly as is; Home Warranty; sold strictly as is; Home is in good condition; owner is not capable of making repairs; sold strictly as is; . . . What does this stateme...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
SELL THAT HOUSE: PICTURES ARE IMPORTANT It used to be, and not too long ago, that getting pictures on a listing in the MLS would take a while.  You would have to wait for someone to come out and take the picture.  All too frequently this would be a blurry picture from a drive-by photo usually taken at the worst time of day and sometimes on the worst day, like during a snow storm, when the photographer was off from his regular job. But now when every digital device that we own can take a photo and when we can quickly send it to the MLS, those dark days are a thing of the past . . . or are they.  Now when I see a listing without a photo, I start to think that the listing agent is trying to hide something.  How can you be in this business and not have the means to take a picture of your li...
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