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The numbers are out and they confirm what those of us in the trenches already knew. One thing positive is inventory is reduced substancially from last year at the same time. There are 882 single family homes and 271 townhomes on the market this year and last year at the same time there were 1306 single family homes and 309 townhomes. The number of listings are down 32.6%. This is good news. We need the inventory to be reduced to have prices go up. The most basic market rule is "supply and dem... Read Full Post

In these trying times many are confused about market terms and conditions. The majority of people are familiar with the emotion packed word, foreclosure. Foreclosure is simply speaking, when the bank takes the property for nonpayment of the mortgage. There are notices that must be placed in the newspaper and sometimes ugly evictions can occur. Of course, foreclosure negatively effects credit. Right now Fannie Mae will not entertain a mortgage for a prospective borrower until four years after ... Read Full Post

There is much uncertainty in the real estate market place today. Prices are down and inventory is up. Are things going to go down further? Should I wait until things bottom out? These are all valid questions and the uncertainty is pounded into our minds continually by the media. Why should you buy now? Here are my top 10 reasons: 1. You need a place to live. Rents are escalating and landlords are getting greedy. Most will only accept a one year lease and are raising rents as soon as the lease... Read Full Post

Charles County/Washington D.C. Area During the last several years mortgage companies in general and mortgage loan officers in particular have capitalized on industry loop holes that existed at the time. In our area, Southern Maryland there were several companies that targeted people with questionable credit. Here's how the deal would work A perspective customer would walk into a builders' model. They would be informed that they could purchase this beautiful home with no money down. The new ho... Read Full Post