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Home Buying in 20878 : Real Estate Advice

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  • Local Info6
  • Home Buying20
  • Home Selling4
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Activity 19
Fri Jul 15, 2016
MCM_STL answered:
Title insurance is very necessary. A person cannot legally sell you a home without settling all debts and liens against said property. You have no way to verify what debts have to be settled if you don't have a title search done.

The justification is that you might not really own a property you think you just bought if it doesn't have a clear title at the time of transfer.
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0 votes 1 answer Share Flag
Mon Jul 11, 2016
Puravp answered:
if you go without an agent, the builder could discount the 3% commission towards the price of the house
0 votes 14 answers Share Flag
Thu Jan 29, 2015
Alex Saenger answered:
All great advise. Just keep in mind that the lender or loan officer is identifying the maximum you can afford, not what you will need to spend. Once you know your ceiling, you then want to figure out your comfort level in terms of a monthly payment. After all, you live with the payment every month, not the loan. Once you know that, your helpful local agent (like me, Alex Saenger) can help you find the perfect place to call home. ... more
0 votes 13 answers Share Flag
Fri Oct 10, 2014
answered:
You can check with the Consumer Websites, but those are not going to give you an accurate depiction of a Lender's credit score. The reason is simple. Lenders, Retailers, and Auto Finance Companies all have different Scoring Models. I have people call me and say they bought a car a month ago and were told they had a score in the 700s, yet when I pulled the credit, their scores were in the low 600s. We lenders have to use a model that puts more weight on revolving accounts than installment accounts. So heed my warning, if you want the highest score possible when applying for a mortgage, pay down as many if not all your credit cards to between 10-30% utilization. People make the decision to pay their cards down to $0, but that's not good unless you plan on keeping them at $0 for at least 90 days. You see, not all creditors report every single month if you carry a $0 balance. But they have to report at least quarterly. Most this helps. ... more
0 votes 5 answers Share Flag
Fri Jan 10, 2014
Jody Lish answered:
It's a nice area, but I think you should look at other neighborhoods in 20878 as long as you're looking. Let me know if I can help you. I've lived in this area all my life!
0 votes 4 answers Share Flag
Wed May 22, 2013
Greg Myers answered:
Was the short sale negotiator "ATC" which had their license revoked by the state of Maryland?? The listing agent should select another firm to handle the negotiations and all parties should proceed forward with the short sale process.

Greg Myers
RE/MAX Realty Group
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0 votes 7 answers Share Flag
Sat Apr 6, 2013
Catherine Wallenmeyer answered:
Contact Peggy Lyn Speicher she is a magnificent agent who can counsel you on the homes available for sale in that area. I am a local Lender with Presidential Mortgage Group located in Montgomery Village, Maryland. I would be happy to meet with you to discuss your financing options and get you prepared to purchase. Please feel free to contact me at :

Catherine Wallenmeyer, Senior Loan Officer
Presidential Mortgage Group
18310 Montgomery Village Avenue, Suite 100
Gaithersburg, MD 20879

Phone: 240-793-1342

www.pmg-loans.com/catherine.wallenmeyer
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0 votes 5 answers Share Flag
Sat Apr 6, 2013
Catherine Purcell answered:
Hello Sergy,

I am a senior mortgage loan officer in Maryland and will be happy to run numbers for you to let you know how much you will qualify for your new home.

You can either call me on my cell phone: 202 573-6035, or you can go to my online application at www.loansbycatherine.com.

Looking forward to helping you get the keys to your new home.

Sincerely,

Catherine Purcell
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation.
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0 votes 6 answers Share Flag
Sun Dec 30, 2012
The Roskelly Team answered:
Hi Fact,

Your credit score is sufficient but you'll need to have a history of income at the same type of position. And, unless you are eligible for a VA loan, you'll need a minimum of 3.25% for a downpayment. Your best option is to connect with a reputable local lender. Contact me if you need suggestions. ... more
0 votes 2 answers Share Flag
Tue Dec 18, 2012
Susan McFarland answered:
BJ is right JR-there is a killer no money down and no monthly mortgage insurance loan out there for your income/credit score .
Give a shout if I can help.
susanmcfarland@mris.com
0 votes 14 answers Share Flag
Fri Dec 14, 2012
Shelley Green answered:
If you are referring to communities like King Farm, Fallsgrove and the Kentlands, these communities have always been the preferred neighborhoods. The owners like to be able to walk to shopping and restaurants, as well as, knowing their kids can safely walk there as well and still be within the community.

The main streets of the commercial area will have the higher traffic than the actual neighborhood streets. The additonal amenities that the commerical aspect brings to the community adds a small premium to the price of the residential homes. Unfortunately, in these communities the homes are packed so tightly on small lots, some buyers do not like to be so close to other homes. Other buyers like the "green" angle that they do not have to get in their cars to go to the store or restaurant, they can walk or ride a bike.

Overall, these communites are desireable to a large group of buyers and like the rest of the country, were hit by the recession as well.

Please feel free to call, text or email me if you have any further questions.

Sincerely,

Shelley Green
The Banner Team
Long & Foster Realtors
Shelley.Green@longandfoster.com
240-401-5875
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0 votes 6 answers Share Flag
Fri Dec 14, 2012
Shelley Green answered:
Yes, Winchester Homes will be having their Cabin Branch sale office open in Clarksburg around mid-March to late April with deliveries beginning as early as mid-fall. They will have THs, SFHs and possbly condos. They will have some of the same models as their Poplar community in Wheaton but wll not have the Dorchester as it is too wide to fit any of their lots.

There are several other communities that will be popping up between not and 2016, if you are interested in learning more about them as they become available, please email, call or text me.

Sincerely,

Shelley Green
The Banner Team
Long & Foster Realtors
Shelley.Green@longandfoster.com
240-401-5875
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0 votes 3 answers Share Flag
Tue Nov 27, 2012
mindyge answered:
Feng Shui works in eastern countries with their cultures and traditions, there is not much Feng Shui tradition here in US, I do not believe it will work here.
0 votes 10 answers Share Flag
Wed Jun 22, 2011
Carlos Caraballo answered:
Dear Buyer:

If you have an appraisal contingency just walk away or re-negociate the contract with the seller if not talk to a Real Estate Lawyer for legal advice.

Carlos Caraballo
Realtor
VA-MD
kvgcaraballo@gmail.com
202-679-0006
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0 votes 4 answers Share Flag
Mon Jun 13, 2011
The Roskelly Team answered:
NEVER buy a home without a home inspection. It is very likely this home is being sold "as-is" and the bank will make no repairs. However you can still have a home inspection and leave yourself the option to terminate the contract if you aren't happy with the outcome. The bank may NOT take your offer with this clause but would you want a home that didn't pass a systems inspection? ... more
0 votes 15 answers Share Flag
Mon Jun 28, 2010
answered:
Dan,

I was merely using an anology of a house to a retiement account. If you live there along time though it in effect is one. Previous generations use it that way and to their gain. My Grandmother paid off her mortgage, retired a few years later and lived very well because she had very little to spend each month. Or you sell the bigger house you don't need and buy the little condo in FL in cash. Our generation though cashes out equity every chance we get and I wonder if we will ever get the same deal our parents and grandparents had.

As for the stock market growing over time, yes it basically does and so does the housing market. You make my point for me, showing how the market tanked from 14k to 8k in a year or so shows how dangerous it can be to try and time the market for a quick buck. Well same with the housing market. If you take a longer view say 20-30 years the experts say to keep saving and the market will rebound. Tough to hear but essentially correct. Again, same with the housing market.
Dan, I don't know where you live but again the DC market certainly isn't the same as it was in 1950 constant dollars not withstanding. I have a client now they bought in 1989 for 302k, the home is now worth around 7590k that they own free and clear. Now they can use some of that to purchase a beach house which is their dream. They did it right, the loan is paid and has been paid and the home more than doubled in value. All I can say is that by trying to time the market as you wish to do I have seen more people lose at it then win. Sure you might get it right but most aren't that lucky. We all want to buy low and sell high but how many people can do that on a regular basis? You mention the costs of being a homeowner but you don't mention the benefits. Just the tax break alone drives people to buy homes when the income hits a certain point. I think we will have to agree to disagree on the benefits of being a homeowner. Though we do hit some of the major points in agreement. I enjoy the back and forth and hope you do as well.
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0 votes 7 answers Share Flag
Thu Sep 10, 2009
Fernando Herboso answered:
When you say "bargain" . .you are speaking our language.
Foreclosures are the talk of the day. .
and we are talking foreclosures in Montgomery County 24-7
Check us out here. . www.Herboso.com ... more
0 votes 17 answers Share Flag
Sun Nov 30, 2008
Bruce Lemieux answered:
Ajit,

Home prices in Clarksburg are pressured downward by two factors: distress sales and ongoing new construction. Right now, there's about one years' worth of available inventory on the market (the county average is about 7 months). At least 1/3 are bank-owned or distress sales, 1/3 are new construction, and about 1/3 are typical home resales. I believe that Clarksburg will continue to have significant downward pricing pressure for sometime -- more so than most areas in the County. Expanding inventory from new construction will keep this a buyer's market for the foreseeable future, in my opinion.

I would be very cautious with a new construction purchase here. If I were buying in Clarksburg right now, I would first take a look at resale and be *very* aggressive on price. There's a lot of 'like new' homes here.

Good luck.
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1 vote 4 answers Share Flag
Fri Sep 12, 2008
Bill Eckler answered:
Michael,

The willingness of a seller to entertain this a logic for lowering the price of the home would depend strictly on the sellers level of motivation.

As mentioned earlier, the fact that no central sewer exists was incorporated in the original list price. ... more
0 votes 7 answers Share Flag
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