Archive for the 'Real Estate News' Category
Buying a Home in Annapolis? The New First Time Home Buyer Tax Credit Can Help
February 25th, 2009 Categories: Buyers, Real Estate News
This Credit Could Be Your Ticket to Owning a Home in the Annapolis Area
Buried somewhere deep in the 1,000+ pages of the new stimulus bill – also known as the American Recovery and Reinvestment Act of 2009 – is a little bonus that Annapolis area home buyers should like: a tax credit of up to $8,000.
I say should like because I’ve been surprised at the number of people who have expressed outrage over not just the credit but the entire package. A few Governors are even threatening to refuse some or all of their shares, on principle, which is fine with me: I’ll be happy to take what they don’t need.
Getting into the Nitty Gritty of the Home Buyer Tax Credit
I’ll save you the trouble of wading through those thousand pages by recapping some of the highlights of the credit below:
- To qualify for the credit, you must have bought a home after January 1, 2009 and before December 1, 2009.
- You must be what the law considers a “first time home buyer” – someone who has not owned a principle residence during the three year period prior to a purchase.
- The tax credit is equal to 10% of the home’s purchase price, up to $8,000.
- To be eligible for the credit, buyers must meet certain income requirements. Eligibility is based on what’s known as your modified adjusted gross income – you’ll be asking your tax preparer about that one.
- If you’re single, and your modified adjusted gross income exceeds $75,000, the credit will be reduced. For married taxpayers filing a joint return, the figure is $150,000.
- The difference between this and the previous $7,500 credit is that this credit does not have to be repaid. (The other was, essentially, a tax free loan).
Will Annapolis Area Home Buyers Take Advantage of this Credit?
I can’t see why first time buyers wouldn’t be all over this (perhaps limited) opportunity. Several lenders I’ve spoken to have already written loans for buyers who are taking advantage of the credit.
One tells me that his borrower is getting gift funds from a relative to purchase a condo; the borrower will then repay the relative when Uncle Sam writes a check after the borrower files his 2009 tax return.
If you’re thinking about taking advantage of this credit, email me at kenhaedrich@gmail.com and I’ll email you a special free report on the 21 Most Frequently Asked Questions About the New Home Buyer Tax Credit.
If you’d rather, email me your home address, and I’ll send you the report and a complete First Time Home Buyer Kit, with everything you need to know about buying your first home.
If you qualify, you don’t want to miss this great opportunity. We’d love to help you take advantage of it. Just call me at 410-507-7222 if you have any questions.
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Meet Karen McHale, Winner of the ($1.2 million) Fifty Dollar House in Edgewater
January 28th, 2009 Categories: Real Estate News
We’ve all driven by it dozens of times along Route 2, vowing that we’d plunk down $50 for a raffle ticket…and maybe, just maybe get lucky.
But a Colorado woman who never did drive by – indeed, who has never even visited the Annapolis area – turned out to be the lucky winner of the 6 bedroom, 4 1/2 bath, 6,000+ square foot home known locally as the Fifty Dollar House.
Karen McHale, a chemical engineer from Idaho Springs, Colorado, claims she’s never won a thing in her life. But when she heard about the raffle on the news and learned that ticket sales would help support a good cause – We Care and Friends - she said, “Why not? Even if I don’t win, I’ll be helping out.”
Married and a mother of two, McHale promptly put the raffle out of her head. Then out of the blue she received a phone call this past Friday afternoon from Tom Walters, the home’s owner, informing her that she held the winning ticket. “At first I thought it was a joke! I was excited, and a little in shock. Then I wondered – what am I going to do with it?”
Her friends tell her she should keep it – “so they have a vacation home!” But she may decide to sell the home.
If so, chances are she’ll use some of her windfall to help fund a self-publishing venture she’s launched.
A volunteer firefighter, McHale has created a team of fictional characters she calls Fire Station Buddies - Flash, Scout, Tundra and others – as a way to teach children about safety, science, engineering and problem solving.
The first in a series of Fire Buddies books – The Legend – is already on sale. A portion of her book earnings will go into a fund McHale has started to help support volunteer fire departments across the country.
We hope you sell a million!
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Tip to Annapolis Home Sellers: How NOT To Lose a Million Dollars on the Sale of Your Home
December 10th, 2008 Categories: Buyers, Real Estate News, Sellers
Depersonalize, Declutter… But Watch Out That You Don’t Throw Money Away in Your Yard Sale: A True Story
You’ve seen enough HGTV programming to know the drill: if you’re selling a home, you’ve got to get rid of stuff.
Too much stuff makes your house look small, takes up storage space you should be showing off, and smells old. Buyers – the few that are out there right now, at least - don’t want to see your stuff.
So: tax returns from the 70′s? Shred ‘em. Those tangled strands of Christmas lights that haven’t worked in 10 years? Toss ‘em. Funky artwork that you picked up near the dumpster and never found a place to hang? Put it in the trash?
Here’s a video that will make you think twice about doing that.
While we’re on the subject, it won’t be long after the holidays that you’ll start thinking about a spring yard sale. Here an informative site – www.YardSaleQueen.com – when you’re ready. She has great tips and covers all the angles. I had no idea there was so much to say about yard sales.
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Look For The Moss Haedrich Team In December’s What’s Up? Annapolis Magazine’s “Real Time Real Estate” Feature
December 5th, 2008 Categories: Buyers, Real Estate News, Sellers
The Story Showcases a $1.2 Million Crownsville Waterfront Home We Found a Buyer For in 18 Days
The Annapolis area is fortunate to have a great magazine – What’s Up? Annapolis – to keep residents apprised of nearly everything that’s going on around here.
And we’re fortunate to be featured in the December issue’s “Real Time Real Estate” editorial section, highlighting a lovely property we sold in Crownsville a few months ago.
You can read about it in the magazine – or simply click here to see the online version.
I think the key takeaway from the story – at least for sellers – is this quote from my wife/partner, Bev Moss Haedrich: “Instead of chasing the market down with price reduction after price reduction, we strategically positioned this home out front at a fair and reasonable price,” thus avoiding a protracted time on market. (Keeping true to what we always tell our sellers right up front: we want our relationship with you to be short and sweet.)
The other takeaway is this: if you’re selling a home and you’d like to know how we can get the job done, call me at 410-507-7222. And if you’re purchasing a home in the area, and want to take full advantage of this unprecedented buyer’s market, we’d love to show you how. Just call Bev at 410-353-2469.
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Look For The Moss Haedrich Team In December's What's Up? Annapolis Magazine's "Real Time Real Estate" Feature
December 5th, 2008 Categories: Buyers, Real Estate News, Sellers
The Story Showcases a $1.2 Million Crownsville Waterfront Home We Found a Buyer For in 18 Days
The Annapolis area is fortunate to have a great magazine – What’s Up? Annapolis – to keep residents apprised of nearly everything that’s going on around here.
And we’re fortunate to be featured in the December issue’s “Real Time Real Estate” editorial section, highlighting a lovely property we sold in Crownsville a few months ago.
You can read about it in the magazine – or simply click here to see the online version.
I think the key takeaway from the story – at least for sellers – is this quote from my wife/partner, Bev Moss Haedrich: “Instead of chasing the market down with price reduction after price reduction, we strategically positioned this home out front at a fair and reasonable price,” thus avoiding a protracted time on market. (Keeping true to what we always tell our sellers right up front: we want our relationship with you to be short and sweet.)
The other takeaway is this: if you’re selling a home and you’d like to know how we can get the job done, call me at 410-507-7222. And if you’re purchasing a home in the area, and want to take full advantage of this unprecedented buyer’s market, we’d love to show you how. Just call Bev at 410-353-2469.
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April Real Estate Market Sales and Statistics for Annapolis and Anne Arundel County
May 21st, 2008 Categories: Buyers, Neighborhood Sales & Stats, Real Estate News, Sellers
Do the Numbers Reveal an Upturn in the Annapolis Real Estate Market? Plus…Here’s What the NAR (National Assn of Realtors) is Forecasting for the Second Half of 2008
Around the 10th of every month, the local MLS – ours is known as the Metropolitan Regional Information System – publishes real estate market sales statistics for the previous month. Here are some notable statistics for April 2008 for Anne Arundel County:
Average Sold Price: $398,231 – a slight decrease from the April 2007 figure of $398,754.
Median Sold Price: $320,000 – a 7.25% decrease from the April 2007 figure of $345,000.
Total Units Sold: 420 homes, a 30% decrease over the April 2007 figure of 600.
Average Days on Market: 137, an increase of 28.04% over the April 2007 figure of 107 days.
Those numbers may not seem too encouraging, the total units sold does represent an increase over the 331 sold in February 2008 and the 418 sold in March 2008.
Annapolis Real Estate, By The Numbers
Let’s take a closer look at what’s happening in the Annapolis market, and break it down by price range, active listings, under contract, and sold in the last 30 days. Read the rest of this entry »
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Buying a Home in the Annapolis Area? Don’t Let a Little Credit Repair Stand Between You and Your Dream Home
March 24th, 2008 Categories: Buyers, Real Estate News
This Free Class Will Take the Mystery out of Credit, Help You Repair Yours (If Necessary), and Raise Your Credit Score by as Much as 100 Points…in Just 45 Days!
As you’re probably aware, banks are being very careful these days with their loans, going over loan applications with a fine tooth comb. As our friend David Win of Mortgage Associates puts it, “Lenders are getting back to basics and looking at credit scores closer than ever.”
If you think marginal credit is hampering your ability to buy a home. Or, if you’re mystified by the whole credit thing - and who isn’t? - here’s help: a free class to be held at Keller Williams Select Realtors of Annapolis on April 2nd.
David and his colleague Ken Kingsbury, will be teaching the 1 1/2 hour class and they’ll be covering just about everything you ever wanted to know about credit scores and how they impact the home buying process. David deals with these issues day in and day out, so he’s well qualified to speak on the subject. Among other things, he’ll be discussing:
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Buying a Home in the Annapolis Area? Don't Let a Little Credit Repair Stand Between You and Your Dream Home
March 24th, 2008 Categories: Buyers, Real Estate News
This Free Class Will Take the Mystery out of Credit, Help You Repair Yours (If Necessary), and Raise Your Credit Score by as Much as 100 Points…in Just 45 Days!
As you’re probably aware, banks are being very careful these days with their loans, going over loan applications with a fine tooth comb. As our friend David Win of Mortgage Associates puts it, “Lenders are getting back to basics and looking at credit scores closer than ever.”
If you think marginal credit is hampering your ability to buy a home. Or, if you’re mystified by the whole credit thing - and who isn’t? - here’s help: a free class to be held at Keller Williams Select Realtors of Annapolis on April 2nd.
David and his colleague Ken Kingsbury, will be teaching the 1 1/2 hour class and they’ll be covering just about everything you ever wanted to know about credit scores and how they impact the home buying process. David deals with these issues day in and day out, so he’s well qualified to speak on the subject. Among other things, he’ll be discussing:
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Annapolis Area Real Estate, By The Numbers
February 6th, 2008 Categories: Buyers, Neighborhood Sales & Stats, Real Estate News, Sellers
From the everyday to the extreme, some interesting tidbits courtesy of our MLS: 
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Homes Currently Listed in Annapolis for $500,000 or Less: 384
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Homes Currently Listed in Annapolis for more than $500,000: 399
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Longest Days on Market for an Annapolis Listing: 1,254. (Free advice: time to consider a price reduction.)
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Most Expensive Home for Sale in Annapolis: $13,900,000. Includes 8 fireplaces, which are likely to come in handy when you have money to burn.
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Most Expensive Home for Sale in Maryland: $19,685,000. In Easton, on 605 acres, Georgian-style home.
PS – You already know this, but we’d be happy to show you any home for sale in the Annapolis area, including the last two. Just give a call.
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Annapolis Real Estate: A Tale of Two Markets
February 1st, 2008 Categories: One Minute Realtor, Real Estate News, Sellers
Your agent has given his presentation, you’ve signed a listing agreement, and now there’s a For Sale sign in your front yard. Your home is on the market.
Or is it? The real question is this: is your home in the market? On the market and in the market are two vastly different things.
On the market means you’ve simply shown up at the dance and now you’re hoping for the best. In the market means you’ve practiced your steps, showered, brushed and flossed, put on your best duds, polished your manners and – by gum – you’re not leaving until you’ve danced with all the prettiest girls in the room.
Big difference, right? One’s passive and without intention. The other’s active, prepared, and purposeful.
A Lot of Homes for Sale in the Annapolis Area Are On, But Not Really In the Market
And guess where the right-now buyers are looking? Make no mistake about it: buyers today have no appetite for homes that aren’t resolutely in the market.
Not priced aggressively? Your competition right down the street is. Your home need fresh paint or a thorough cleaning? Buyers won’t give you a second glance. Does your home cry out for updates or new carpet? Best deal with it. Offering allowances just won’t cut it anymore: today’s buyers want turnkey homes, and they have their pick of the litter.
We tell our clients that they need to be in the top 20% of the market – price- and condition-wise, versus the competition – if they’re really serious about selling. Impeccable staging is essential, too: as best it can, your home should have that “model home” feel. It may take a little work to get there to position your home squarely in the market. But today, anything less is simply a waste of time.
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