Laura Roskelly, Realtor ABR, ASR, GRI, E-PRO, ASP

There is no reason you can't go right back in with another offer. However, keep in mind that the home inspection is to determine structural and mechanical deficiencies or safety issues and you are not entitled to ask for "improvements" based on the home inspection nor is it to be the basis for price renegotiations. But now that you know what may be wrong with the home, you can negotiate whatever is really important to you up front with the next offer. The seller will likely be relieved not to have to go through the home inspection process again and may look more favorably on your offer. - Mon Sep 15 2008, 08:24

Many owners list their homes for sale with licensed real estate agents. Have your agent pull a list of rentals in the area. Go back 2 or 3 years and that will give you a good guesstimate of the minimum number of rentals. Factor in a few more for "For Rent by Owner" properties. Many lenders also track this information as certain government backed loans are not approved in high investor owned communities so check with your lender to for the stats on this neighborhood. - Mon Sep 15 2008, 08:21

Hi Mich, If you are buying directly from the owner and there is not a real estate agent involved make sure that a reputable title company or settlement attorney is involved. They should be able to give you clear answers as to the status of the title and how long any delay may be. Also if this is a bank foreclosure it could very well be that the bank is delaying the paperwork as banks are overloaded right now with foreclosures. If it's a really great deal you may want to wait it out. Your contract will address your specific remedies for failure of the Seller to perform as agreed. In most cases you would be entitled at minimum to a refund of your deposit. - Mon Sep 15 2008, 08:18

Hi Rebecca, I'm a Fort Meade Area real estate specialist and I do my best to keep up with the latest on BRAC. I even have a blog about it on my web site. First and foremost it's a while down the road and not really beginning to affect us yet. The contract to build the multi-million square foot facility that will house BRAC workers was just awarded to a construction companyr less than 60 days ago. So calculate in the time it's going to take to build that facility in years not months. They are currently letting some contractors and employees work from remote locations (mostly in Virginia) to cover the jobs already available.

What most people don't advertise is that the number of jobs BRAC is supposed to provide is calculated using the new employees PLUS any ancillary growth expected to take place around the new jobs, i.e. the waitress at your local restaurant, and the people who build the roads that will be expanded as well as the government contractors and military personnel supporting DISA and other organizations.

As for how BRAC will affect the real etate market locally, keep in mind that many families who already own homes in the Fort Meade area are commuting to DC and Baltimore. They will no doubt be vying for some of these new jobs to lessen their commute. Many families will also be on shorter terms contracts (3 years or less) and may own a home elsewhere so they plan to rent here. So, not every BRAC employee is going to have an impact on the sale side of our real estate market. This bodes well for wise investors who are picking up rental properties close to the base.

I've had a lot of families tell me that they are going to "wait until BRAc hits" to sell their home. This has been going on for over a year now. Unfortunately during that time our inventory of available homes now exceeds a two year supply and the families that waited have seen the value of their property decrease dramatically.

In addition to the homes that we have on the market now, I do expect to see those who have been waiting on the sidelines, jump in to the market as soon as we see some influx from BRAC. That will only serve to further saturate a market in transition.

While we are all excited about the impact of BRAC on Anne Arundel County Real Estate, we need to remain cautiously optimistic and recognize this as a supporting factor to bring our market back in line and not expect it to be our saving grace. - Thu Jun 19 2008, 08:47

Hi Bonbon, There are loan programs which allow the seller to contribute up to 100% of your down payment. In addition, if you are looking in Anne Arundel County, there are programs sponsored by the county which will pay all of your closing costs and downpayment. Of course you have to meet the terms to qualify for those programs. But in general the answer is YES! It's a strong buyers market and you need to affiliate with an experienced agent and lender to make sure that you are getting the best price and financing terms. Do it sooner rather than later as interest rates may be on the rise! - Thu Jun 19 2008, 08:32