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Top Reasons to Buy NOW Instead of Renting or Waiting Until Next Year

Posted by Matthew T. Smoot on February 10, 2016 at 12:25 AM Comments comments (0)

Top Reasons to Buy NOW Instead of Renting or Waiting Until Next Year

 

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying.

1. Competition is about to Increase

Every spring a surge of prospective purchasers enter the housing market. Like you, they will want the best home available in the best location at the best price. They will be competing with you for the ‘steals’ in the market. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy available today that no longer be available as the market heats up..

2. Price Increases Are on the Horizon

Nationally, home prices are projected to appreciate by 4.5% in 2014 and by over 19% from now until 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

3. Owning a Home Helps Create Family Wealth

Whether you rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Federal Reserve, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

4. Interest Rates Are Projected to Rise

The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the spring of 2015. That is an increase of almost 3/4 of a point over current rates.

5. Buy Low, Sell High

Most would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy.

Start Searching For Your Home Today

Matthew T. Smoot-Your "Whatever it Takes" REALTOR®
When You List with Smoot, You Sell with Smoot

With over 10 years in the business I offer my clients the most comprehensive representation in Maryland.  Not only am I a REALTOR, but I also hold a Broker's license, which is the highest and most specialized license a REALTOR can hold.  Customer Service is my Priority, Selling Houses is My Goal!  Contact me for any and all of your Real Estate Needs.  443-504-8930

Thinking of Selling? Why Now May Be The Time

Posted by David Kaufmann on January 29, 2016 at 8:20 PM Comments comments (0)

Thinking of Selling? Why Now May Be The Time

Thinking of Selling? Why Now May Be The Time | Keeping Current Matters

It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.

The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months most people listed their home in for 2015. Here is a graphic showing the results:

2015 Popular Selling Months | Keeping Current Matters

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,860,000.

That number spiked to 2,280,000 by May!

What does this mean to you?

With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring. They are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.

Bottom Line

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.

David Kaufmann – Realtor ® / GRI - Market got you lost? Take the next EXiT!

Specializing in commercial, high-end waterfront, as well as more modest, residential dwellings in Annapolis, Stevensville, Queenstownand the surrounding areas.

www.DavidKaufmannEXITRealty.com- 443-223-3026 cell, 410-304-2115 office,

410-304-2031 fax;DavidKaufmannEXITRealty@gmail.comemail


$10,000 Available for Down Payment & Closing Costs

Posted by Matthew T. Smoot on January 29, 2016 at 11:40 AM Comments comments (0)

$10,000 Available for Down Payment & Closing Costs

The "You've Earned" It program is offered through the Maryland Mortgage Program (MMP) and is available to buyers who have at least $25,000 in student loan debt and are purchasing a home in one of Maryland's Sustainable Communities. Most of Baltimore City is a Sustainable Community as well as sections of Baltimore, Howard, Montgomery, Prince George's and Anne Arundel counties. You may check to see if a property is in a Sustainable Community by using the mapper.

Buyers that are eligible for the "You've Earned It" program will receive an interest rate that is .25% lower than the standard Maryland Mortgage Program's rate. They can also receive an additional $5,000 in down payment/closing cost assistance for a total of up to $10,000 in down payment/closing cost assistance.

Buyer's must meet the same eligibility requirements as the Maryland Mortgage Program which requires them to be under the income limits, and to complete homebuyer education.

Here is an information flyer for you to distribute.

If you have questions or would like more information please call or email me today.

Matthew T. Smoot-Your "Whatever it Takes" REALTOR®
When You List with Smoot, You Sell with Smoot
With over 10 years in the business I offer my clients the most comprehensive representation in Maryland.  Not only am I a REALTOR, but I also hold a Broker's license, which is the highest and most specialized license a REALTOR can hold.  Customer Service is my Priority, Selling Houses is My Goal!  Contact me for any and all of your Real Estate Needs.  443-504-8930

What to do AFTER the storm has passed:

Posted by David Kaufmann on January 23, 2016 at 10:30 PM Comments comments (0)

What to do AFTER the storm has passed:

From the official website of the Department of Homeland Security 01/23/2016

Hello Maryland, now that “Jonas” #Blizzardof2016 has passed, here are a few tips on what to do next.

After Winter Storms And Extreme Cold

  • If your home loses power or heat for more than a few hours or if you do not have adequate supplies to stay warm in your home overnight, you may want to go to a designated public shelter if you can get there safely. TextSHELTER + your ZIP code to 43362 (4FEMA) to find the nearest shelter in your area (e.g., SHELTER20472)
  • Bring any personal items that you would need to spend the night (such as toiletries, medicines). Take precautions when traveling to the shelter. Dress warmly in layers, wear boots, mittens, and a hat.
  • Continue to protect yourself from frostbite and hypothermia by wearing warm, loose-fitting, lightweight clothing in several layers. Stay indoors, if possible.


Learn From Every Storm

Restock your emergency supplies to be ready in case another storm hits.

  • Assess how well your supplies and family plan worked. What could you have done better?
  • Take a few minutes to improve your family plan and supplies before the next winter storm hits.
  • Talk to your neighbors and colleagues about their experiences and share tips with each other.

David Kaufmann – Realtor ® / GRI - Market got you lost? Take the next EXIT!

Specializing in commercial, high-end waterfront, as well as more modest, residential dwellings in Annapolis, Stevensville, Queenstown and the surrounding areas.

www.DavidKaufmannEXITRealty.com - 443-223-3026 cell, 410-304-2115 office,

410-304-2031 fax; DavidKaufmannEXITRealty@gmail.com email

5 Housing Market Predictions for 2016

Posted by Matthew T. Smoot on January 22, 2016 at 11:35 AM Comments comments (0)
 
It's that time of year again, when the Home Buying Institute rounds up a collection of insightful - and sometimes controversial - predictions for the U.S. residential real estate market. We begin with home prices and we end with Millennials, with a sprinkling of mortgage rates and employment trends in between.
 
Here are five key predictions for the U.S. housing market in 2016:
 
1. Home prices will rise more slowly in most U.S. cities.
 
Over the last couple of years have, we've seen home prices rise rapidly in many parts of the country. This was often the result of a supply and demand imbalance. In many large metro areas, there were plenty of home buyers in the market but not enough homes to meet demand. Prices tend to rise rapidly under such circumstances.
Many housing market forecasts for 2016 agree that prices will probably rise more slowly than they did in 2015, as more homes come onto the market.
In July, the financial data company CoreLogic issued a forecast for the U.S. real estate market. At that time, the company was predicting a 4.7% rise in national home prices through July 2016.
According to the report, "the CoreLogic HPI Forecasts indicates that home prices [in the U.S.], including distressed sales, are projected to ... increase by 4.7% from July 2015 to July 2016." For more on their real estate market predictions for 2016, visit www.CoreLogic.com.
The general consensus among housing analysts is that home prices in the U.S. will continue rising in 2016, at least in most U.S. cities. But the gains might not be as steep as what we have seen this year.
 
2. The biggest home-price gains will continue to be in the West.
 
In 2015, some of the biggest home-price gains occurred in the western half of the nation. Cities like Denver, Colorado and many in California experienced double-digit gains in property values. Denver and San Francisco, for example, both posted year-over-year gains above 10%.
These markets could experience some cooling in 2016, as mentioned above. But many housing analysts expect that the biggest home-price gains will continue to occur in these western markets.
In September 2015, the S&P/Case Shiller Home Price Index revealed continued appreciation across the country. But the biggest gains were reported in the west. According to David M. Blitzer, Chairman of the Index Committee:
"[The index] has risen at a 4% or higher annual rate since September 2012, well ahead of inflation. Most of the strength is focused on states west of the Mississippi. The three cities with the largest cumulative price increases since January 2000 are all in California: Los Angeles (138%), San Francisco (116%) and San Diego (115%)."
3. Mortgage rates will rise in 2016.
 
This week (ending October 2), the average rate for a 30-year fixed mortgage sank to 3.85%. The 30-year average has been hovering at or below 4% for most of this year. But what's the forecast for 2016? According to some analysts, borrowing costs could begin to rise later this year and into 2016.
At the end of September 2015, Freddie Mac (the government-regulated buyer of mortgage loans) issued a housing market prediction for 2016. In it, the company's chief economist forecast that the average rate for a 30-year fixed home loan would gradually rise to 4.2% by the end of this year, and 5.1% by the end of 2016.
This is slightly lower than their previous housing forecast, as they noted in their report:
"Based on the Fed's decision last week to defer an increase in the Federal funds rate, we lowered our 2015 and 2016 interest rate forecasts by 0.1 percent for both the 10-year constant maturity Treasury (CMT) and the 30-year fixed rate mortgage (FRM)."
If rates do start to rise gradually this year, we could see a slight reduction in home-buying activity next year. But this could be offset by continued improvements in the job market and broader economy. And that brings us to real estate market prediction #4...
 
4. Job gains will bring more home buyers into the market.
In 2014, the U.S. gained about three million jobs. This year, we are on track to add another two million, according to Doug Duncan, chief economist at Freddie Mac. During September alone, the country gained another 200,000 jobs, according to the payroll company ADP.
This means there are more people in a position to buy a home. So we could start 2016 with a lot of housing demand.
On top of that, many cities across the country are still suffering from a shortage of homes for sale (relative to demand). This supply-and-demand imbalance could continue to push home prices north in 2016, as buyers compete for limited inventory.
 
5. Student loan debt will keep many Millennials out of the market.
According to a recent analysis by the Federal Reserve, outstanding student loan debt now totals more than $1 trillion. That's a one followed by 12 zeros. That's a lot of debt. And it's keeping many would-be home buyers from entering the market. We expect this trend to continue into 2016.
Student loan debt can create additional hurdles for mortgage shoppers, and in a couple of ways. For one thing, it increases the borrower's total debt-to-income ratio, which can cause problems during the underwriting and approval process. Additionally, excessive debt can lower a person's credit score, especially when he or she has missed a few payments in the past. All of this makes it harder for debt-burdened Millennials to qualify for home loans.
 
Matthew T. Smoot-Your "Whatever it Takes" REALTOR®
When You List with Smoot, You Sell with Smoot
With over 10 years in the business I offer my clients the most comprehensive representation in Maryland.  Not only am I a REALTOR, but I also hold a Broker's license, which is the highest and most specialized license a REALTOR can hold.  Customer Service is my Priority, Selling Houses is My Goal!  Contact me for any and all of your Real Estate Needs.  443-504-8930
 
 

Waterfront Estate for Sale in Queenstown MD

Posted by David Kaufmann on January 19, 2016 at 8:10 AM Comments comments (0)

Waterfront Estate for Sale in Queenstown MD

1132 Cheston Lane in Queenstown, Maryland 21658, is finally a manageable estate.


This Waterfront Estate on the Prestigious Wye River in Queenstown, MD, comes with deep water access. The brick Colonial Residence with southern exposures was built in 1987 and features 6 bedrooms, 3.5 bathrooms, for a total of 7,588 square feet!

This exceptional 16 acre pastoral parcel contains a guest house, carriage house, green house, a lap pool, two docks with boat lifts and has a professionally rip-rapped shore line. There is also a detached 4 car garage, for your toys.

The easy commute from and to Annapolis (20 mins), Washington, and Baltimore (50 mins) 7500sft, and 16 acres make this waterfront property truly a manageable estate.


David Kaufmann – Realtor ® / GRI - Market got you lost? Take the next EXiT!

Specializing in commercial, high-end waterfront, as well as more modest, residential dwellings in Annapolis, Stevensville, Queenstown and the surrounding areas.

www.DavidKaufmannEXITRealty.com - 443-223-3026 cell, 410-304-2115 office, 410-304-2031 fax;

email DavidKaufmannEXITRealty@gmail.com


The Most Appealing Aspects of Homeownership

Posted by David Kaufmann on January 18, 2016 at 7:45 PM Comments comments (0)

The Most Appealing Aspects of Homeownership

A post from my site at SimplifyingTheMarket.com published this past week . What is most appealing about homeownership to you?

The National Association of Realtors (NAR) just released their first issue of the Housing Opportunities & Market Experience Survey (HOME). In the report, NAR revealed what Americans believe to be the most appealing aspects of homeownership.

Here is a graph showing the results:

The Most Appealing Aspects of Homeownership | Simplifying The Market

It is interesting to see that the two most appealing aspects had nothing to do with money, but instead, addressed the non-financial benefits of homeownership.

David Kaufmann – Realtor ® / GRI - Market got you lost? Take the next EXiT!

Specializing in commercial, high-end waterfront, as well as more modest, residential dwellings in Annapolis, Stevensville, Queenstown and the surrounding areas.

www.DavidKaufmannEXITRealty.com - 443-223-3026 cell, 410-304-2115 office,

410-304-2031 fax; DavidKaufmannEXITRealty@gmail.com email

Insulation Tips for the Winter

Posted by Matthew T. Smoot on January 7, 2016 at 3:30 PM Comments comments (0)

Insulation Tips for the Winter

Keeping your home cool in the summer and warm in the winter is something every homeowner strives to do. The good news is you don't need a Ph.D. to create a comfortable living space. What you need is a bit research, a little inspection and a few hours of work.

The problem is most homeowners think too highly of their homes. Many do not realize that their home may be less insulated than they think. Here are a few signs you should look for as you stroll around the house.
 

Do You Have Leaky Windows?
Homeowners tend to believe that their windows are set to go if they are relatively new and made of good materials. While the quality of your window can make a difference in its longevity and durability, your windows may still be leaky because of poor installation. Other times, a well-installed window can be compromised after undergoing multiple thermal expansions and contractions. Tell-tale signs of a leaky window include peeling paint on the interior window sill, or surrounding walls and rotting wood on the exterior window frame and sill. If you see any of these signs or detect traces of mildew and mold in your home, then it's time to check your windows and caulk them for good.
 
Your Squeaky Door May Do More Than "Squeak"
You may not pay too much attention to your squeaking doors, but like your windows, your door is also a common air leakage point. When your doors aren't thoroughly fitted you will notice certain gaps and areas between the warm inside and the cold outside. When you stand next to it, you can feel the cool air (in winter) and the warm air (in summer) intruding your living space and driving your utility bills up. The best way to remedy this is to seal up the door with a draft excluder and stop the leakage. However, if you're one of those homeowners who have done the "sealing" already, checking your door regularly for drafts remains an important to-do.

As This Old House shares, "a door's weather seals, if it has any at all, can rip, compress, bend, or wear out over time, leaving chilly winter air free to enter (or expensive air-conditioned air to leave)." The moral of the lesson? Keep your door sealed and keep an eye on it!
 
Assess Your Home's Insulation
The best way to understand how well your home is insulated is by giving it a personal assessment. To get started, Energy.gov recommends homeowners "check the attic, walls, and floors adjacent to an unheated space, like a garage or basement...to see what type of insulation you have, and measure its depth or thickness (in inches)." Depending on what your home is equipped with, your insulation fixes may be as simple as weatherstripping your entry points or as complicated as insulating your attic by adding an extra layer of insulation blanket, and maybe upgrading to an energy efficient metal roof. According to Energy Star, doing so will not only make your home more comfortable year-round, but also help you save an average of 15 percent on heating and cooling costs. The investment is worthwhile, so grab a clipboard and start the assessment today.
 
Matthew T. Smoot-Your "Whatever it Takes" REALTOR®
When You List with Smoot, You Sell with Smoot
With over 10 years in the business I offer my clients the most comprehensive representation in Maryland.  Not only am I a REALTOR, but I also hold a Broker's license, which is the highest and most specialized license a REALTOR can hold.  Customer Service is my Priority, Selling Houses is My Goal!  Contact me for any and all of your Real Estate Needs.  443-504-8930

400 Wye Narrows Rd Waterfront Property on Eastern Shore in Queenstown Maryland

Posted by David Kaufmann on November 25, 2015 at 3:15 PM Comments comments (0)

400 Wye Narrows Rd Waterfront Property on Eastern Shore in Queenstown Maryland


Custom designed Deck House one of a kind, time-tested. This is a must see property with over 2400' of Shoreline, secured with stone jetty's every 50' and sand and seagrasses, deep water, cove, open water and private. The owner is a builder and attention to detail is apparent throught this home. The floor is a solar passive floor ahead of its time. Pier with two boat lifts and two jet ski lifts. Located in the prestigous Cheston in the Wye community.

David Kaufmann – Realtor ® / GRI - Market got you lost? Take the next EXiT!

Specializing in commercial, high-end waterfront, as well as more modest, residential dwellings in Annapolis, Stevensville, Queenstown and the surrounding areas.

www.DavidKaufmannEXITRealty.com - 443-223-3026 cell, 410-304-2115 office,

410-304-2031 fax; DavidKaufmannEXITRealty@gmail.com email


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