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Frederick : Real Estate Advice

  • All121
  • Local Info11
  • Home Buying37
  • Home Selling8
  • Market Conditions4

Activity 55
Wed Jan 21, 2015
Ron Thomas answered:
One of two things;
Either you lied to your Lender about your finances,
Or, your Lender turned a bind-eye to your situation.

This is the kind of thing that started the whole thing 4 years ago. ... more
0 votes 11 answers Share Flag
Wed Mar 13, 2013
Scott Godzyk answered:
It could be a waste of time.... They can only send one offer to the bank for approval. The sellers bank first has to approve the seller to even complete a short sale and then has to approve the sales price. usually if teh deal falls apart the whole sale falls apart. If you have a strong buyer broker who is willing to take the time to get exact info from the listing agent who is willing to share it, you could find out if the buyer is close to pulling out and thenm you could submit your offer but be willing to wait 2-3 months for the bank to decide. ... more
0 votes 10 answers Share Flag
Sun Apr 12, 2015
Liz Burrow answered:
There are many families who live in the Frederick area and commute to DC but it is dependent on what you feel is an acceptable time to spend commuting.

The MARC train runs from Downtown Frederick but is not all that frequent. You can check out the routes and schedules on the following website.

It would also depend on where you were thinking of living. Anything close to 270 would help to reduce commuter time should you be thinking of driving.

Feel free to give me a call if you would like to discuss this and I would be happy to help in any way that I can. 301 865-9675.
... more
0 votes 9 answers Share Flag
Thu Apr 25, 2013
Liz Burrow answered:
Hi Anne,

This website below will give you all of the details of where local public transport is available:-

Recently I took a very inexpensive bus trip to New York. It was convenient, relaxing and a very economical way to travel.

Feel free to give me a call or email me if you have any more questions.

Liz Burrow
301 865-9675
... more
0 votes 2 answers Share Flag
Tue Dec 31, 2013
Nancy Milton Holtzscher answered:
Hi, Leeann: Elizabeth is right on all counts. I'd say the first thing to do is talk to a lender to make sure you're going to qualify for a mortgage and to find out what your comfort level will be with a payment. Don't forget to include the taxes, interest and insurance in your payment to get a realistic idea of what you want to spend each month.

Then find a Realtor you like and form a real partnership with her/him to find your new home. They can set you up with emails from the MLS in your preferred price range. That way, when you decide to go out looking in person, you'll know a lot about what type of home is available.

Also, make sure advance decisions about where you'd like to live. Buyers who are unsuccessful are often unsure about where they want to be geographically and it leaves them too large of an area of consideration, becomes confusing and ends in frustration. Location is a decision you can make before you start to look -- based on commute distance, school districts, access to services, proximity to family, etc.

Best of luck!
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0 votes 9 answers Share Flag
Thu Sep 27, 2012
The Roskelly Team answered:
Your banks appraisal is all that matters on value. They won't see or care about the current lenders BPO.
0 votes 5 answers Share Flag
Tue Feb 12, 2013
jspivey818 answered:
The bank is trying to obtain value on the property. Typically, the bank will accept or counter the contract after they get the BPO back. This would probably happen within 45-60 days.
Joanne Spivey, CDPE, The Buyer's Best Realtors, 301.874.5100
... more
0 votes 4 answers Share Flag
Fri Sep 28, 2012
Tim Moore answered:
Yes, normal for any house under contract with contingencies on it to be shown and a short sale has a contingency that the bank MUST approve the sale which is a HUGE contingency. Has the bank sent a written acceptance letter? Until you get that it can fall apart and the seller can look for back up offers up to the time it closes. Remember ---- it is still the sellers house and not yours. ... more
0 votes 13 answers Share Flag
Thu Mar 20, 2014
Kris Paolini answered:
If your real estate agent used the MAR contract and MAR short sale addendum, there is nothing that speaks directly to the BPO. As a buyer, you give the bank a specified number of days to issue an approval. If the bank does not issue an approval in that time period, the contract becomes null and void. After the bank completes the BPO, they should be fairly close to issuing an approval if all of the seller's documents are up to date. i hope that helps. ... more
0 votes 4 answers Share Flag
Mon Sep 17, 2012
C.quinones asked:
Most of all for answering them quickly!
0 votes 0 Answers Share Flag
Tue Sep 18, 2012
Richard Iarossi answered:
If you submitted an offer to purchase a home in Maryland, the earnest money deposit has to be deposited by the Broker when the contract is ratified. In the case of a short sale, the offer is ratified when you, and the owner sign it, not when the bank gives approval. ... more
0 votes 2 answers Share Flag
Fri Sep 21, 2012
Shanna Rogers answered:
Hi C.quinones,

I'm not sure about MD, but in CA it is NOT the normal procedure. The earnest money deposit check is not cashed until you have WRITTEN approval from all lenders involved in the short sale.

Shanna Rogers
SR Realty
... more
0 votes 6 answers Share Flag
Thu Sep 6, 2012
Tim Moore answered:
Your other post said you were putting an offer on a short sale and it was accepted. it was accepted by the seller but the bank has to agree and that can take MONTHS. If the bank is pushing it towards the foreclosure auction you may be totally ignored. The sellers agent might be able to convince the bank to accept your offer to buy it as a short sale but I would say you have a steep uphill climb to get them to do that. Once the foreclosure wheels turn it is hard to make them stop. ... more
0 votes 2 answers Share Flag
Wed Jul 18, 2012
David Winkelman answered:
HOAs typically do not stipulate breed of dog but might stipulate number per household. Are you buying or renting. If you are buying, usually there is no problem. If you are renting, it is up to the individual unit owner as to whether they will allow pets. ... more
0 votes 2 answers Share Flag
Wed Apr 16, 2014
Peter Thompson answered:
Dear Bob and Nicole,

A great site for exploring Frederick is Frederick at a Glance:

Feel free to contact me if you need additional information: petert@machomes or 240.529.0129. My website is below.

Frederick has lots to offer. You will enjoy it!

... more
0 votes 8 answers Share Flag
Mon Apr 13, 2015
Anna M Brocco answered:
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area(s) do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
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0 votes 8 answers Share Flag
Tue Feb 28, 2012
Tim Moore answered:
You would be best off to call a few and ask. They are negotiable and we are not allowed to discuss them openly.
0 votes 2 answers Share Flag
Sat Aug 15, 2015
Lisa A. Williams answered:
Frederick Memorial Hospital is the closest to the house at 20 Kline Blvd if that is the property u are referring to!
0 votes 9 answers Share Flag
Sun Feb 12, 2012
Charlotte Savoy & The Savoy Team answered:
I would suggest asking for HUD's rejection of your EMD in writing? If you had a contingency in the contract for a review period of the HOA docs and didn't waive your right to review them, I would definitely have your Agent contact the listing broker for help in getting your EMD back. Good luck! ... more
0 votes 7 answers Share Flag
Fri Nov 18, 2011
Darren Ahearn answered:
Hello Beth-
Thanks for your question. Cannon Bluff is a small community of homes in Frederick- Ryan homes is building these. Let me know if you would like to go visit this area and I will be glad to help. 240-344-1713
I have not been over there in about 3-4 months but some are going up-
Cannon Bluff is within the Frederick City limits. Trash pickup is twice a week, but there is no recycling in Cannon Bluff, so if you are one of those people who can't stand not having recycling, don't come here.

Tuscarora Creek is the failed (foreclosures & auctions, etc) community in the front of Cannon Bluff. I more or less put blinders on while driving on Tuscarora Creek Blvd. At the end of Tuscarora Creek Blvd is a stop sign, but you can only left onto Chamberlain Dr, so that stop sign drives me nuts. Anyway Chamberlain Dr is mostly rows of corn, and then finally you get to Cannon Bluff, which is thankfully separated from Tuscarora Creek by all that corn.

Right now construction is moving nicely now that Ryan was able to get the permits thing fixed in later summer of 2008. Phase 1 is finished but Phase 2 is a little slow with ongoing building at a snail pace.

The best reason to buy in Cannon Bluff is the incentives and prices are quite a bit down. If prices have dropped, then Cannon Bluff is still a great place depending on how you commute to work. If you are lucky Pool Jones Road may be the fastest way to work, and that road is just fun to drive on.
... more
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