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Home Buying in Capitol Heights : Real Estate Advice

  • All98
  • Local Info4
  • Home Buying61
  • Home Selling1
  • Market Conditions1

Activity 83
Tue Dec 31, 2013
Aaron Brown answered:
It probably has been stated but when you sign with an agent, he/she will provide you all of the information that you will require to purchase a home. You can do your own research, get advice from friends and family but know that your situation is unique to you and cannot be exactly as someone else's experience. Trust your agent, he/she.....me will give you outstanding service to help you find the home specific to your needs. Call me if you have not engaged an agent, it would be good to talk to you to determine what your needs are. ... more
0 votes 12 answers Share Flag
Tue Dec 24, 2013
Akil Walker answered:
Hi Regina,

Did you have any luck? I never heard from you! :(
0 votes 6 answers Share Flag
Wed Jun 12, 2013
Akil Walker answered:
Hi Cdbrown,

If you still need assistance feel free to contact me we have a host of lenders that can assist.


good luck
0 votes 6 answers Share Flag
Wed Jun 12, 2013
Miekeba Jones answered:
I dilanachristine, I can help you.

Miekeba Jones
Heymann Realty, LLC
miekeba@heymannrealty.com
240.715.8284 direct
301.439.1180 office
0 votes 3 answers Share Flag
Sun Apr 7, 2013
anawa07 answered:
I brougth a house in june2012, do I get tax cerdit for first time buyer???
0 votes 4 answers Share Flag
Wed Feb 27, 2013
Aaron Brown answered:
Hello: Aaron Brown, SELLSTATE Dominion Realty, abrown2362@aol.com, 202-327-1385, www.aaronbrown-realtor.com

Answer:
Short Sales:
The time it takes a short sale to close is specific to each deal. I have had some unbelievable experiences where closing too 28 days and I have had some equally unbelievable experiences where a closing to 12 months. As the buyer and the buyers's agent, it really tests your paitience and commitment to the purchase. As the seller and listing agent, what can go wrong does go wrong and every now and then a deal closes perfectly.

With short sales, for the most part, the banks are in control, they require specific information from the seller just to approve the short sale and this is a back and forth process that does reap rewards for all parties involved.

Answer:
Interest Rate:

No real answer for that without a complete profile of you, your finances, work history, salary and the loan amount.

As your realtor, I will give you the outstanding professional and customer service that you deserve. You should call or e-mail me today. I am looking forward to hearing from you!

Thanks,
Aaron Brown
SELLSTATE Dominion Realty
10268 Lake Arbor Way
Bowie, MD, 20721
202-327-1385
abrown2362@aol.com
www.aaronbrown-realtor.com
... more
0 votes 7 answers Share Flag
Wed Feb 27, 2013
Aaron Brown answered:
Hello Fungirl: Aaron Brown, SELLSTATE Dominion Realty, abrown2362@aol.com, 202-327-1385, www.aaronbrown-realtor.com

Answer:
Each Homeowners Association is run independently either by the neighbors in the neighborhood or a management company. You will have to contact the actual Homeowners Association and request a breakdown or index of their services and fees associated with that particular development to get an accurate list. As your realtor I would get that information for you from the listing agent.

Homeowners Association (HOA) fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for:

master insurance
exterior and interior (as appropriate) maintenance
landscaping
water
sewer
garbage costs.

HOA fees are typically paid monthly and run on average from $100-$700 per month – these are indeed estimates, and can vary depending on many factors (especially if there are higher-end amenities being provided via the HOA fees such as a concierge, pool, fitness center, or valet). Fees are normally set by the HOA's board of directors and adjusted annually – oftentimes, an HOA board of directors is simply all the homeowners in a complex or building, if it is small, or if there are a large number of owners, the board of directors is typically elected by all homeowners. Any excess HOA fees that exist after paying for pertinent services as described above are stored in an account and called reserve funds.

I look forward to hearing from you.

Thanks,
Aaron Brown
SELLSTATE Dominion Realty
10268 Lake Arbor Way
Bowie, MD, 20721
202-327-1385
abrown2362@aol.com
www.aaronbrown-realtor.com
... more
0 votes 2 answers Share Flag
Fri Jan 11, 2013
Akil Walker answered:
Hello Khairston30,


As already noted this program ended however, your closing cost might give you some tax deductions but you will need to consult with CPA.


Good luck
0 votes 3 answers Share Flag
Sun Aug 26, 2012
Akil Walker answered:
Hi Connie,

you can write off your closing cost expenses from your hud1. The tax credit portion has expired as previously noted.
0 votes 4 answers Share Flag
Sun Aug 26, 2012
Akil Walker answered:
Hello Michael,

how we define good is relative to the individual. I have that lives over there and likes it. If you want information regarding crime, schools etc. click on the link below ... more
0 votes 1 answer Share Flag
Fri Apr 6, 2012
brent mendelson answered:
I would get a good CPA in SC who knows the ins and outs of the SC tax code. Ask them for any credit or deductions. Hope this was helpful.

Thanks,
Brent Mendelson
1st Mariner Mortgage
nmlsr#111407
bmendelson@1stmarinerbank.com
... more
0 votes 1 answer Share Flag
Sun Feb 5, 2012
Kimberly Barton answered:
Crystal,

You may notice that your tax liability will change when you file your first income taxes after a first home purchase. Your deductions do change and your tax liability is based on those deductions.

Owning a home still allows you to deduct certain items. Be sure to have a copy of your closing HUD1 with you when you meet with your accountant or tax preparer. And ask questions so that you understand everything including all the deductions taken and future tax impact.

Regarding the second part of your question about owing $7,500 in down payment assistance, you will need to consult with the paperwork signed at the time you obtained the down payment assistance (DAP). Some DAP programs are grants that do not have to be repaid; others are due upon the sale of your home or kick in after so many years living in the home.

At the very least, the DAP office should have thoroughly covered every aspect of their program to be sure that you understood your obligations under it before you obtained any funds. Read your paperwork carefully. If you are still uncertain of your obligations under the program, contact the program office for full clarification.

If you worked with an agent, the agent may have helped walk you through the various points of the program. If you didn't understand the DAP program fully at that time, you can still contact your agent to review the program and answer questions. Most agents welcome the opportunity to assist you with questions even well after the purchase of your home.

Either way, don't be shy about contacting the DAP program office or your agent to ask for help.


Kimberly Barton, REALTOR®
CRIS, AHWD, Certified Short Sale & Foreclosure Adviser
Champion Realty, Inc.
410.224.0645 Direct
KimberlyBarton@ChampionRealty.com
... more
0 votes 4 answers Share Flag
Sun Feb 5, 2012
Kimberly Barton answered:
If you are referring to the stimulus incentive offered to first time home buyers where the government provided a lump sum tax credit of up to $8,000 (depending on which program and at what time of year you purchased) all of those expired in 2010.

If you were active duty military living overseas, you may qualify for up to an $8000 tax credit. But there are strict guidelines to what qualifies.

And in many cases, those credits are now due to start being repaid to the government because those were actually interest free loans for the purchaser.

Nonetheless, you should see a difference in your tax liability when you file your taxes reflecting your first home purchase. Not only did your personal deductions likely change when you purchased, there are probably other items on the HUD1 that may be deductible: property taxes, mortgage interest etc.

This is a good chance to discuss the purchase impact to your tax and income situation with your accountant. Owning a home provides varying tax and saving advantages and you should get educated by your CPA frequently (things change constantly).

Also I suggest reading various books on the topic by various professionals and specialists who can provide additional tax and savings methods to benefit you now and into the future.

Happy Home Ownership!

Kimberly Barton, REALTOR®
CRIS, AHWD, Certified Short Sale & Foreclosure Adviser
Champion Realty, Inc.
410.224.0645 Direct
KimberlyBarton@ChampionRealty.com
... more
0 votes 9 answers Share Flag
Sun Feb 5, 2012
Kimberly Barton answered:
If you are referring to a first time home buyer credit allowed by Maryland, you received that on the settlement HUD1. Maryland allows a small tax credit to a first time home buyer by reducing the amount of state transfer tax paid by the buyer.

Otherwise, if you are referring to the stimulus incentive offered to first time home buyers where the government provided a lump sum tax deduction of up to $8,000 (depending on which program and at what time of year you purchased) all of those expired in 2010.

And in many cases, those credits are now due to start being repaid to the government because those were actually interest free loans for the purchaser.

If you were active duty military living overseas, you may qualify for up to an $8000 tax credit. But there are strict guidelines to what qualifies.

Nonetheless, you should see a difference in your tax liability when you file your taxes reflecting your first home purchase. Not only did your personal deductions likely change when you purchased, there are probably other items on the HUD1 that may be deductible.

This is a good chance to discuss the purchase impact to your tax and income situation with your accountant. Owning a home provides varying tax and saving advantages and you should get educated by your CPA frequently (things change constantly). Also I suggest reading various books on the topic by various professionals and specialists who can provide additional tax and savings methods to benefit you now and into the future.

Happy Home Ownership!

Kimberly Barton, REALTOR®
CRIS, AHWD, Certified Short Sale & Foreclosure Adviser
Champion Realty, Inc.
410.224.0645 Direct
KimberlyBarton@ChampionRealty.com
... more
0 votes 4 answers Share Flag
Sat Jan 14, 2012
Yak answered:
how much is first time home buyer credit for 2011 does it apply in montgomery alabama
0 votes 11 answers Share Flag
Sun Jan 1, 2012
Molly Hay - Mosley, CDPE,CNE, MIP, SFR answered:
Yes if you meet the criteria. I have attached a link below that is on the IRS website that explains what you had to do to qualifiy.
0 votes 2 answers Share Flag
Sat Sep 3, 2011
Dream Team1 answered:
Hi Fungirl, Yes if You are paying $1000. in rent and you are comfortable with (not late, bills paid on time ) Then I see no reason You can't own, But I don't know the full story, Call Me I have several homes in Your area at that price range ( $70,000 - $100,000) . Let Us help make Your Home Dreams come true! ... more
0 votes 1 answer Share Flag
Fri Sep 2, 2011
Mikel DeFrancesco answered:
Hi Fun,

It makes all the difference in the world. Making $200K a year sounds great... unless your existing debt obligations amount to $190K per year, then it doesn't sound so good, right? Think of it this way... the way the banks look at you is based on:

Income: How much pie there is to pay all your bills:
Ratio: How much your other bills will take of that pie
Credit Score; How you, as an individual, have historically been on paying your bills and how the debt will statisically make you as a potential risk of default.

Believe me... they WANT to loan you money and make the interest... but ratios are a necessary item for them to consider!
... more
0 votes 3 answers Share Flag
Mon Aug 22, 2011
Mr Credit answered:
It means be ready for any offer You put in on that property to take quite some time. This is usually a Short Sale situation, which can actually work out well if You can be patient enough. In fact, most of the people buying Short Sales right now are buying with a nice chunk of equity to start, which is a great way to Hedge against any small amount of depreciation that might be left in this market.

Mr Credit
ESPN Radio San Diego
... more
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