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Annapolis : Real Estate Advice

  • All159
  • Local Info10
  • Home Buying59
  • Home Selling2
  • Market Conditions12

Activity 149
Judith Neigh…,  in Annapolis, MD
Wed Oct 16, 2013
Judith Neighoff answered:
this is an active listing at 2.2 mil, please contact a buyers a agent for more info. I'm happy to help you. My office is Long & Foster 320 Sixth st Annapolis. thanks
0 votes 3 answers Share Flag
Darlene Wine…, Real Estate Pro in Stevensville, MD
Tue Oct 15, 2013
Darlene Winegardner answered:
Lil,

I am an agent based in Stevensville with 18 years experience. If you are a Buyer, I believe now is a great time to purchase since the market can tend to be slower this time of year and home prices tend to be reduced if they've been sitting on the market all year. In addition, there are new loan restrictions which will be implemented in January, so it's the best possible time to purchase since interest rates are still extremely low.

If you're a Seller, it depends on the location of your home and the condition.

Please contact me and we can discuss your specific situation and come up with a plan.

Thanks, Darlene 410-991-1456
... more
0 votes 3 answers Share Flag
bks, Home Owner in 21403
Sat Oct 12, 2013
bks answered:
Neighbor within stone's throw of property in question, Annapolis, MD

Not applicable. This was a CASH transaction sold at Auction-by-owner c.o A.J. Billig Co. Bidders needed 10% (maybe even 20%) on the day of the auction. The winner of the auction had to come up with an addtional % within 24hrs and then the entire amount (no mortgage) within 45 days or lose all their money.

The new owner, however, may have financed the property after-the-fact.
... more
0 votes 5 answers Share Flag
Michele Hagan, Real Estate Pro in Annapolis, MD
Wed Oct 9, 2013
Michele Hagan answered:
That is a tough price range, but you may find an efficiency . There are some on west street, I would be happy to show you. You may also want to check Craigs list and the Capital Newspaper, but be careful not to give anyone your social security number and/or money upfront. If you need any help feel free to text/call me at 410-271-3455. ... more
0 votes 4 answers Share Flag
Jessica Hood…, Real Estate Pro in Gambrills, MD
Tue Sep 24, 2013
Jessica Hood & Laura Roskelly answered:
Hi Britt,

Foreclosure auctions are a great (but really laborious and time consuming) way to buy a home. You'll have to prepare careful comps. and not go over that price even if you get caught up in the frenzy of bidding.

The auctioneer usually charges a fee that you, the buyer pay.

They generally want a cash or certified check deposit of $10,000 up to 10% of the property price paid the day of the auction. This usually rules out most owner occupant buyers.

You'll need to be in tune with any description of the property as well to include anything that says "subject" too (an IRS lien, a 2nd mortgage, etc.) as you inherit that "subject to" on anything you purchase.

Much more info. but you can contact auction houses directly for their procedures and requirements.

Also, if the opening bid is $480k then that is the least they will take UNLESS it doesn't get any bidders and the bank is willing, on the spot, to reduce the price. The most likely outcome with a variance this large is that the bank will proceed with foreclosure and sell it themselves on the open market at fair market value.

As noted below, many auctions are cancelled before they make it to the courthouse steps if (i) the default is cured by the current owner (ii) the owner files bankruptcy that includes the house and I'm sure there are other reasons as well.
... more
0 votes 4 answers Share Flag
John Dean, Real Estate Pro in Somerville, MA
Fri Sep 6, 2013
John Dean answered:
The best possible source for this information is to work with a local Realtor who should be able to boil your question down to the exact property type you are looking for as well as by neighborhood. ... more
0 votes 5 answers Share Flag
Mo Davis, Real Estate Pro in Clinton, MD
Sun Aug 25, 2013
Mo Davis answered:
The sale took place in June. You may find details on thei county website.
0 votes 2 answers Share Flag
MARK MALDONA…, Real Estate Pro in Annapolis, MD
Sun Aug 25, 2013
MARK MALDONADO answered:
Once the purchase transaction has been completed, you own the home. On a refinance, a borrower has 3 days to change his/her mind and cancel the transaction. I assume the 30 days you are referring to is that you agreed to let the seller stay there for 30 days post settlement (it is called a rent back). On a sale, there is no 3 day waiting period. I suggest you contact the title company / attorneys office that completed this sale for their guidance. ... more
1 vote 3 answers Share Flag
JoAnn Lavend…, Real Estate Pro in Annapolis, MD
Fri Jul 26, 2013
JoAnn Lavender answered:
Where is this home with an economic life of 40 years. Has the appraiser never heard of Annapolis MD , Williamsburg VA, Boston MA or Philly???

Best Wishes

JoAnn Lavender

joann.lavender@gmail.com ... more
1 vote 7 answers Share Flag
Irina Karan, Real Estate Pro in Aventura, FL
Thu Jul 25, 2013
Irina Karan answered:
Single family home will have a better resale value if put in the same locality as the duplex.
However, a lesser price duplex might attract more buyers (lower price range = more buyers).

Single family home has no neighbors - and privacy is appreciated by buyers.
It has a back/side/front yard - with no one telling you to match your flowers to the siding color, and
kids/dogs can run everywhere.
There is no "discussion" of when to change the roof or siding, or porch (if shared).
Your neighbor won't start defaulting on his mortgage - putting you in an unpleasant situation.
Sudden low resale of your neighbor won't decrease your property value.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 3 answers Share Flag
Roy Bush, Both Buyer and Seller in Phoenix, AZ
Sun Jul 14, 2013
Roy Bush answered:
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. I introduced a loan program at http://www.cfsflex.com, they allow a mortgage after a

foreclosure, short sale, or bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
... more
0 votes 2 answers Share Flag
Vitaly Petrov, Real Estate Pro in Silver Spring, MD
Wed Jun 26, 2013
Vitaly Petrov answered:
First you should know if rental listing is overpriced or not, as mentioned earlier you can ask your realtor or do search by your self... If price is correct, you can offer 2 year lease or more, pay more month up front, if your credit history and income good, this is also positive.
With respect
... more
1 vote 6 answers Share Flag
David Moore, Real Estate Pro in Severna Park, MD
Mon Jun 3, 2013
David Moore answered:
Hi djbrookh,

You should be able to find a place to live in the Annapolis area for that price, the choices will be limited but there are options.

Currently there are only rooms in homes that are available in your budget in Annapolis. If you are open to living in Queen Anne's County ( just over the Chesapeake Bay bridge) there are currently a couple of apartments available. There are some other areas that have options for you.

I would be happy to provide you with any additional information including a list of rentals you need and answer any questions you have. Please fee free to contact me anytime.

Thank you
... more
0 votes 5 answers Share Flag
 ChrisFuller, Real Estate Pro in Annapolis, MD
Wed May 22, 2013
ChrisFuller answered:
It is customary for the first month's rent and a security deposit to be collected prior to or at move in. Many times a landlord will collect an amount different to monthly rental amount so it is clear the deposit is not for a rental payment, but a refundable deposit intended to cover any damages that may occur. The law in Maryland provides that no more than the amount of two month's rent may be held as a security deposit. ... more
0 votes 6 answers Share Flag
Stephanie Sn…, Real Estate Pro in Annapolis, MD
Sun Apr 28, 2013
Stephanie Snyder answered:
Hello Roverman55:

I am a full service realtor in Annapolis, MD and I am very familiar with the surrounding communities, including Edgewater. I would be happy to assist you in finding a rental property that meets your needs as well as your budget. Contact me and let's get the process started.

I look forward to hearing from you.

Stephanie Snyder
410-972-9727 (Cell)
StephMarieSnyder@gmail.com
... more
0 votes 6 answers Share Flag
Darlene Wine…, Real Estate Pro in Stevensville, MD
Wed Apr 10, 2013
Darlene Winegardner answered:
Good morning!

I have two waterfront homes for rent. Give me a call and I can email the listings to you.

Thanks,

Darlene 410-991-1456
0 votes 5 answers Share Flag
Akil Walker, Real Estate Pro in Upper Marlboro, MD
Sun Apr 7, 2013
Akil Walker answered:
Hi Britt,

keep an eye on it b/c if the bank just bought it back it should be listed soon.
0 votes 4 answers Share Flag
Stephanie Sn…, Real Estate Pro in Annapolis, MD
Sun Apr 7, 2013
Stephanie Snyder answered:
Hi Karen:

MD is a wonderful place to live and has much to offer from the Mountains in western Maryland to the Atlantic Ocean in the eastern portion of the state. In the middle of MD lies one of the greatest places to live in MD; Annapolis. Annapolis is an historic gem of a town with many shops, restaurants, parks, entertainment venues and a terrific range of living options, all situated on the shores of the Chesapeake Bay. Thirty minutes to both DC and Baltimore provide infinite employment possibilities. Check out my website and peruse the area's neighborhoods. ... more
0 votes 12 answers Share Flag
Robert Wakef…, Real Estate Pro in Millersville, MD
Wed Mar 27, 2013
Robert Wakefield answered:
The Housing Market has really picked up of late - multiple offers on homes, reduced inventory have had a significant impact. There are still many options in Annapolis - some requiring sweat equity but worth th effort to be close to the dock!! ... more
0 votes 9 answers Share Flag
Jessica Hood…, Real Estate Pro in Gambrills, MD
Wed Mar 27, 2013
Jessica Hood & Laura Roskelly answered:
If this is done during the initial negotiations and you agree to it you have to abide by the terms as written in the contact. If they are trying to add this after the fact you aren't obligated to sign it. However, with short sales you'll have other contract timelines come and go (likely) such as the deadline for bank approval. The seller can cancel under those terms just as you could. Perhaps the house is going to foreclosure. ... more
0 votes 5 answers Share Flag
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