Fort Meade - USNA - Andrews AFB

REAL ESTATE Q & A

Q.  How can I take advantage of today's great interest rates and home prices, when I can't sell my current home?

A.  If your housing needs have changed, welcome to the club. That's a perfectly normal situation that has motivated home sellers and buyers for decades.

In today's market, however, it's not always easy (or even possible) to sell one residence and use the equity to purchase another. That doesn't necessarily mean you're trapped forever in a home that no longer fits your shrinking or growing household... not if you can rent that home for enough to cover your monthly mortgage payment. 

Have you considered these other options for your down payment and closing costs?

• VA Financing - Little or no money down for qualified veterans, as well as active duty military.  Even if you've already used your VA eligibility in the past, you may be able to use it now.  My husband and I have used VA several times for refinancing and purchasing.
• FHA Financing - Only 3.5% down for qualified buyers, within the local loan limit.  This is very popular in today's market.
• Closing Help - FHA and VA allow sellers to pay up to six percent towards "actual costs" of the loan.  Some Conventional loans allow sellers to pay up to three percent of the borrower's closing costs.  With so many homes on the market, many sellers are willing to do this.
  
• Retirement Plan - In some cases, you may be able to borrow your own money previously contributed to a retirement plan.  Check with your plan administrator to find out if this is possible and to determine any penalties or tax obligations that accompany this action.  One of my clients is using this resource to close on his first home in January, and the seller is paying most of his closing costs.
  
• Life Insurance - You may be able to liquidate the cash value of your life insurance.  Check with your insurer to find out if this is an option for you.
• Refinance your current home - Even if you can't sell your current home in today's market, you may be able to liquidate some of your equity for down payment and closing on another home by refinancing.  For some homeowners, refinancing will lower the payment to improve cash flow, even if you don't take cash out. 
  
• Relatives - Even if you can't refinance your current home or use your retirement plan or life insurance for down payment and closing, your parents or another relative may be in a position to do so.  It doesn't hurt to ask. 
  
• Owner Financing - The sellers of some homes on the market may be willing to hold a second trust for all or part of your down payment/closing costs.  My mother recently reminded me that she and my dad sold their home with owner financing during a previous real estate meltdown. 
  

Don't assume you can't get a Conventional loan with minimal down payment.  95% loans are making a comeback in the marketplace, and some well-qualified buyers are taking advantage of them to avoid the high FHA insurance.

If your housing needs have changed, you aren't necessarily trapped in your current home by today's struggling real estate market.  This may be perfect timing for you to make a move.

CROFTON, MARYLAND:  REAL ESTATE QUESTIONS & ANSWERS

Q. I want to sell my Crofton home, but I live in California. Will you mail the paperwork to me?  Fax it?

A. Paperwork that required mailing 10 years ago and scanning/emailing just 2 years ago can now be signed and sent electronically. Let me explain…

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Your autograph is no longer necessary on real estate sales contracts, addenda, and other documents used to buy, sell, and lease real estate.  E-signing is the latest item on a long list of technology innovations since I started in this business. I love it!

The e-Sign Act (2000) and Uniform Electronic Transactions Act (1999) made electronic signatures binding, but there are still a few hold-outs in the banking world that won't accept digital signatures. In these situations, many people use electronic signing in their initial negotiations and then follow up with a copy signed the old fashioned way – with pen and paper – after the agreement is complete.

However, FHA is on board (FHA Letter) and so is the National Association of REALTORS (NAR White Paper), as well as many lenders.

Here's how e-signing works:

1. Your agent goes online to an e-signature company (such as Authentisign or Docusign) to create a new signing. The first step is to name the signing, such as “123 Crofton Parkway - Lease.”

2. Your agent will identify each participant in the new signing by entering their name, email address, role in the transaction, and whether they are a signer, reviewer, or copy recipient.

3. The document (or two or three…) will be uploaded by your agent. It's done the same way you add an attachment to email.

4. Your agent will then go through the document to identify each place where a signature or initials are needed. It's a simple “drag and drop” process. If cross-outs or written changes are needed in the document, your agent will do that electronically and create an initial box next to it.

5. After reviewing the document to make sure nothing has been overlooked, your agent will go to the final step – i.e., sending it to you, accompanied by an email message with any comments or instructions.

6. You receive an email containing the document, along with step by step instructions, and submit it for authentication.

7. After your document is authenticated by the e-signature copy, it is forwarded to the next party. Once all parties have signed, the final copy will be sent to anyone identified as a reviewer (such as your agent) and a copy will be delivered to everyone listed in Step 2.

8. Now all parties have an electronic file of the completed document, which you can save as a PDF file and print for a hard copy.

My clients have used electronic signing for leases, listings, contracts, and random follow-up documents such as the home inspection addendum. Obviously it's ideal for people who are out of the area, but even clients who live in the greater Crofton area love the convenience.

Don't be surprised if there's an electronic signature in your future, especially if you buy or sell a home. This ranks right up there with fax machines, cell phones, online listing data, and electronic lock boxes… just a few of the other technology innovations that have made life easier for consumers and real estate agents alike.

Posted by the author to Focus on Crofton on 11/18/11

Are you still questioning the importance of staging your listings?  You might be convinced after reading this post. 

Home sellers simply don't get a second chance to make a good first impression on prospective buyers!

Take those elf hats out of your closet… it’s time again for Operation Christmas!

We prepared over 100 holiday gift bags for deployed troops last year, thanks to the incredible generosity of Crofton area residents, including many of the agents at Long & Foster REALTORS, and it's that time of year again.

We already have many donations for this year, without even asking, but we still need the following items on or before October 19:

Assorted toiletries, paperback books, white no-logo socks, 5½ x 8½ inch puzzle books, toys appropriate for a 20-yr. old, tissue packs or wipes, unique gift items (paperback books, LED reading lights, manicure kit, sunglasses, disposable camera) and healthy snacks such as granola bars, trail mix, etc. 

You can drop them off at Long & Foster in Crofton, or send a check to  Margaret Woda at Long & Foster REALTORS, 2191 Defense Hwy., Crofton, MD 21114 for us to purchase gift items on your behalf.

Several elves (Long & Foster agents) will help fill the bags and pack them for shipping on October 21. Everything will be well organized in advance by Crofton Village Garden Club members, so it shouldn’t take longer than two hours, max.  If there are enough donations to ship more than 8 cartons, we'll schedule a second date the following week.

We expect to ship eight cartons of 16 filled gift bags to Operation Give as our contribution to "Operation Christmas Stocking." They cover the cost of our shipping to their warehouse in Utah and shipping to the troops.  This is one of several ongoing operations they have throughout the year, so take a look at their website.

Don't have TIME or MONEY, but want to say "thank you" to our troops by participating in Operation Christmas?  Use this as an excuse to touch base with former clients.  Post it on your Facebook page. Your sphere of influence may surprise you!  

Kickoff  for the 2011 season and the Navy vs. Delaware game is 3:30 p.m. today at the Navy Marine Corps Stadium on Rowe Boulevard in Annapolis.  

Parking at the stadium is reserved for those with seasonal parking passes, but there's plenty of free parking for the rest of us at satellite lots.  The most convenient location for Crofton residents is the Harry S. Truman Park & Ride, off Riva Road.

Free shuttle service begins five (5) hours prior to kickoff and drops riders off in front of the Navy Ticket Office at the Class of 1953 Pavilion. Shuttles run about 20 minutes apart.  After the game, you can pick up the shuttle at the same spot, beginning at the start of the fourth quarter until 90 minutes after the game.  Nothing like door to door service!  Chances are good that you'll walk less between your car and the gate than folks who park at the stadium itself.

Crofton residents who have never attended a Navy game should do so at least once. Pre-game pageantry as the Brigade of Midshipmen march into the stadium and fill the field, one hour prior to the game, is a sight you won't soon forget.  Even if you're not a football fan, per se, you might become a Navy Football fan - just for the game-day experience!

Reserved seating is just $35 for today's game, or you can get "standing room only" tickets for the grassy hill overlooking the stadium at $20 for adults and $12 for kids.  Buy Navy football tickets HERE.  Some games are sold out, including most "away" games, so don't miss your chance to experience Navy Football today!

The CNN Money annual list of the Best Places to Live 2011 includes Crofton MD at #82.

Most people in Crofton and the greater Crofton area would agree that our community is a “Best Place to Live,” but Money has some stats to back up their claim.

Here is the CNN Money comparison of Crofton with the average for all “best places” on their list:

In my experience, the primary reasons most people choose to live in Crofton and the surrounding area are not reflected in these statistics.

They include recreational opportunities (parks, golf, bowling, movie theaters), public resources (libraries, museums, and arts venues), commuting convenience (international airports, rail, and Interstate highways), nearby employment opportunities (D.C., Baltimore and Annapolis), well-maintained neighborhoods in various price ranges, local and regional shopping and dining options, places of worship, and the highly involved residents who fuel our many community organizations.

These benefits of living in Crofton can't be easily measured, but they are priceless!

"The Musical Ambassadors of the Army"continue their summer concert series at 7 p.m. on Saturday at the Fort Meade Pavilion on Llewelyn Avenue, about 20 minutes from Crofton.

• This Saturday, August 13, The Concert Band and Soldiers' Chorus return home to Fort Meade after their Independence Day collaboration with the Boston Pops. The concert will feature some of the most timeless works of band literature as well as new arrangements written specifically for these ensembles. The repertoire for this concert will be selected and conducted by the Soldier-Musicians of the Field Band.

• The Army Field Band's pop/rock band, The Volunteers, have an electrifying, heart-pounding show that you can enjoy the following weekend, on August 20.

• Culminating this years summer concert series will be the U.S. Army Field Band on August 27, with their 65th Anniversary Concert.  Every performing component of the band will perform, including The Volunteers, Jazz Ambassadors, Concert Band and Soldiers' Chorus. The finale will be Tchaikowsky's 1812 Overture, featuring live cannons.

We're so fortunate to have these bands based nearby at Fort Meade.  Why don't you take advantage of the opportunity to hear them perform, and take the whole family to Fort Meade for one of these concerts?

Posted originally at FocusOnCrofton.com

Home buyers still find Crofton an attractive place to live, and Crofton homes have continued to sell throughout the real estate downturn. The stability of the Crofton real estate market is evidenced by the fact that none of the detached homes currently on the market are either bank-owned or potential short sales, according to our regional multiple listing system.

DETACHED HOMES

There are forty-two detached homes for sale now in the 21114 zipcode, ranging in price from three homes priced just under $300,000 to an 8–year old 6–bedroom colonial in Braddock Farms at $679,900. The most expensive home on the market in “Old Crofton” is actually the $599,990 new home, which is located on the corner of Crofton Parkway and Tarrytown. The majority of homes in Crofton, however, are 20–30 years old.

Click on Crofton detached homes to view photos, prices, and other details for currently listed detached homes in the 21114 zip code. This list is automatically updated, and will always be accurate at the time you click on the link.

TOWNHOMES

Sixty-four townhomes are on the market now in Crofton, ranging from a low of $135,000 for a lower level piggy-back unit in Bancroft to a $349,999 3–level garage townhome in Walden. Three of the listed townhomes are bank-owned and nine of them are potential short-sales – a great opportunity for investors, eager to take advantage of the low prices, low interest rates, and Crofton's convenient location for renters! Four of the townhomes currently on the market are newer, i.e. less than 10 years old, but most of them are in established neighborhoods.

Click on Crofton townhomes to view photos, prices, and other details for currently listed townhomes in the 21114 zip code. This list is automatically updated, as well, and will always be accurate at the time you click on the link.

CROFTON CONDOS

There are eight “other” homes currently for sale, including two of them in the Tiers at Walden. The other six could have been identified as townhomes, as many of their neighbors were. The confusion comes from the fact that these townhomes are located within a condominium association. You will not find these homes included among the townhomes, however, so home buyers will have a harder time finding them in an MLS search.

If you'd like to check out these homes, please contact me directly.

 

Do you have a good real estate app for your smart phone? There are several available at the Apple iTunes store, including one from realtor.com, zillow, and Long & Foster. To view a demo of the Long & Foster app (which is similar to the others mentioned here) and to get a free VIP access code, click on L&F mobile home search (for iPhone and Android).

Online home searches are a great way to begin your home purchase, but remember… it's just one resource. There's no substitute for actually visiting property and seeing it first-hand. Contact me today to inspect your favorite online finds, and for help choosing a lender, home inspector and other professionals who will likely have a role in your home purchase.

Originally posted 8/8/11 at FocusOnCrofton.com

One thing that's interesting about Activerain signatures is the many different styles. from strongly narrative to business-card like to packed with links.  They're as different as the many personalities of members!

"Thank you" to all military spouses on this Military Spouse Appreciation Day.  

Did you know that May 6 was declared Military Spouse Appreciation Day in 1984 by President Ronald Reagan? Most Americans are pretty good about supporting our active-duty military, but it's easy to overlook the challenges faced every day by a military spouse. 

Aside from the emotional ups and downs of loneliness and constant concern for their spouse, there are practical matters a military spouse encounters daily...like 24-7 parenting without anyone to help with the kids, or the yard, or health care or...  Well, the list goes on endlessly. 

'Been there, 'done that, and I remember.

So take a minute right now to think about any military spouses in your family, your client/customer database, or your sphere of influence and make a note to call or write today and say "Thank you for your service". 

Here are a few other things you might do to honor them on Military Spouse Appreciation Day - or any day.

Ten ways you can thank a military spouse :

1. 

   Spend an hour or two of your time watching their small children so they can have some a lone time for errands, a nap, or catching up on bills.
   
2. Go for a walk with them and talk - I remember going to the grocery store just to talk with the check-out person.  
   
3. Invite them for a cup of coffee at your home or a local bagel shop.
4. Send flowers - or better yet, take them.
5. Share a bottle of wine.
6. Offer to take their photo or make a video for them to send overseas to their deployed spouse.
7. Go shopping together.
8. Invite him or her (and kids) to join your family for a cookout.
9. If their spouse is not currently deployed, offer to babysit so they can have an adults-only dinner out.
10. Spread the word that today is Military Appreciation Day so many others will also say thank you.

If you own a small business, you may wish to offer a discount or small gift to military spouses today.  Or better yet, every day.

I've had the opportunity to work with hundreds of military families during my years in real estate, and I always feel so honored to earn their trust.  Long after your home sale or purchase is over, I think about them - but I don't say "thank you" often enough.

So right here, right now, let me say to my military clients, neighbors, and relatives, that I think military spouses are pretty special people.   And I thank you for your service and sacrifices that make it possible for your spouse to protect our nation.