Get Ready to Buy a Home This Spring
“41% of Americans expect home prices to rise over the next 12 months…”
By Jeff Brown 02/12/13 – 12:36 PM EST
In fact, a survey from Fannie Mae indicates that more and more potential buyers are getting ready to move off the sidelines. As people see reports of rising home prices they lose their worries, so prominent in the past few years, about buying a home that will fall in value. And, of course, when prices are rising, potential buyers want to move before prices go up even more.
Fannie Mae’s survey of 1,003 Americans found that 41% expect home prices to rise over the next 12 month, while only 10% expect prices to fall.
How to Choose an Investment Property That Earns You the Most
By TheStreet.com | Posted Feb 28th 2013 10:00AM
What type of investment property should you buy — a condo or single-family home? Until recently, that was a trick question, as real estate was too risky and illiquid for most investors. But growing evidence of a rebound in the housing market reduces the risk your investment property would lose value. Rising prices also improve your chances of selling without too long a wait if being a landlord doesn’t suit you.
On Tuesday, S&P Dow Jones Indices reported that its S&P/Case-Shiller Home Price Indices showed home prices gained 7.3 percent nationwide last year. Various other surveys have showed gains, but the Case-Shiller gauge is widely viewed as one of the most definitive, and it’s a very healthy gain. “As of the fourth quarter of 2012, average home prices across the United States are back at their autumn 2003 levels,” the firm said. That’s a good-news/bad-news statement: good because the market’s improving, but also a reminder of how bad things were.
What Is a Jumbo Mortgage?
By CNBC | Posted Mar 13th 2013 12:00PM
Sometimes financial terms sound complicated and arcane; other times they sound exactly like what they are. That’s the case with a jumbo mortgage. CNBC explains:
What is a jumbo mortgage?
A jumbo mortgage is a home loan whose value is larger than that of a conventional mortgage. A conventional mortgage is one that can be purchased by government-sponsored entities Fannie Mae and Freddie Mac. These two entities set the maximum value of loans they will purchase.
At what value does a mortgage become jumbo?
The current maximum value for a conventional loan is generally $417,000, but after the housing crash the limit was raised in certain designated “high cost” areas. At first it was raised to $729,750; but then in October 2011, it was reduced to $625,500.
New Listing: 105 B St Mountain Lake Park - GA8028128 - $124,500
Recently renovated charming home with plenty of elbow room conveniently located close to town, schools, parks, etc. This lovely brick and siding rancher also boasts of a completely fenced in back yard and an oversized attached garage as well as a full basement. Call today to schedule a showing.
| 105 B ST OAKLAND, MD 21550 http://www.deepcreeklake.com/RealEstate/JayFerguson/detail.aspx?id=GA8028128
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
| Recently renovated charming home with plenty of elbow room conveniently located close to town, schools, parks, etc. This lovely brick and siding rancher also boasts of a completely fenced in back yard and an oversized attached garage as well as a full basement. Call today to schedule a showing. |
$124,500
Listing # GA8028128
|
501 Hazelhurst Ln - Lakefront cottage - GA8023150 - $449,000
http://deepcreeklake.com/RealEstate/JayFerguson/detail.aspx?id=GA8023150
| Vintage cottage on the Southern most point of Deep Creek Lake. Level lakefront lot, type A dock & unobstructed panoramic view with Western exposure. Sale contingent upon the approval of Garrett County, Maryland Circuit Court. Property Disclaimer / Trustee Sale. |
$449,000
Listing # GA8023150
|
210 S Main St - Accident MD - 4 BR Victorian - GA8017246 - $219,000
Victorian Home Zoned for Commercial use renovated close to original condition. Attention to detail throughout bringing back the character of the era. Hardwood floors, turned stair case, 9′ ceilings, wrap around covered porch & finished 3rd floor. Much work has been done for business use making this the perfect place for a shop, cafe, office or a wonderful warm home. A MUST see!
http://realty.railey.com/deepcreekrealestate/detail.aspx?id=GA8017246
| Contact Jay Ferguson @ 301-501-0420 or DeepCreekLaker@Gmail.com for more information or to setup a private showing for this property. |
| Listing # GA8017246
$219,000
|
GC Commissioners Approve Recycling Plan Amendments
The Garrett County commissioners on Tuesday unanimously approved three amendments to the county’s 10-year Solid Waste Management and Recycling Plan (2004–2014). As required by the Maryland Department of the Environment (MDE), the new regulations pertain to methods for recycling in public schools, recycling light bulbs, and recycling electronics.
Manager Dave Baker, Garrett County Department of Solid Waste and Recycling, noted that though the amendments are new state requirements, his department has already implemented them.
“They’ve been up and running for some time,” Baker said.
Kim Madigan noted that one of her first jobs as recycling coordinator for Garrett County was to start a school program.
“We’ve been recycling since 2005 in our schools,” she said.
Working in conjunction with school and board of education personnel, Madigan said it took her a little over a year to get the initiative up and running. She described the end result as “excellent.”
“I’m very proud of that program,” Madigan said.
The 10-year plan calls for Garrett County schools to collect, but are not limited to collecting, #1 and #2 plastics, cardboard, mixed paper, tin cans, aluminum cans, magazines, and newspaper. The Board of Education is responsible for picking up the materials biweekly from each school.
Garrett College is also required to collect office paper, #1 plastics, aluminum cans, toner cartridges, light bulbs, motor oil, tires, and batteries.
Madigan said her department also came up with a strategy to collect fluorescent light bulbs (4-inch lamps, 8-inch lamps, and U-tubes), compact fluorescent light bulbs (CFLs), and non PCB ballasts for recycling. That program has been in place since May 2010.
Currently the program is limited to individuals (Garrett County residents), not businesses. In addition, because of potential mercury exposure, bulbs (unbroken) are only accepted at the county landfill. The bulbs must be given to a landfill employee, who then places them in a properly ventilated 10-foot by 10-foot shed. The materials are stored in the MDE approved shed until they are ready for shipment to a recycling contractor for processing and recycling.
In the event of bulb breakage, landfill staff must contact MDE and follow guidelines set forth in the Mercury Spill Emergency Response Manual.
Baker indicated that it is currently cost prohibitive for the county to construct bulb collection sheds at all of the county’s refuse collection sites.
The county has also been accepting electronics for recycling for several years. This initiative started as a pilot program through a grant from MDE. Madigan noted that electronics are accepted at four of the county’s refuse collection/recycling sites.
More information about recycling in Garrett County is available at garrettcounty.org or by calling Madigan at 301-387-0322.
Thayerville Water Project To Resume Along Glendale Rd.
The Garrett County Department of Public Utilities will resume work on the Thayerville Water Project on Monday, March 11. Construction will occur between the hours of 7 a.m. and 5 p.m., Monday through Friday.
The contractor assigned to the project will be installing a water line along the section of Glendale Road from the Glendale Bridge to Route 219/Garrett Highway beginning Monday.
“The county apologizes for any inconvenience this construction may have for anyone who needs to travel this route,” said county administrator Monty Pagenhardt.
The anticipated completion date of the work on Glendale Road is Friday, May 3. Any deviations of this projected completion date is contingent on weather conditions.
During the time of construction, the roadway will be closed to traffic and detours will be posted. However, public access will be permitted to residences and businesses in the work zone, but delays may be experienced.
For more information, persons may contact the Department of Public Utilities at 301-334-6983.
$22K Awarded In POS Funding For Avilton Playground
Gov. Martin O’Malley and the Board of Public Works yesterday approved Program Open Space funding for a recreational project in Garrett County. A $22,000 grant was awarded to the Avilton Community Association to install additional playground equipment and to construct a new pavilion at the community’s public playground.
“Whether your children play sports at their community ball field, your family bikes at their local park, or you play tennis with friends at a nearby court, Program Open Space projects benefit all of us,” said O’Malley.
Since 1969, Program Open Space has provided funding for the state to preserve 362,737 acres for open space and recreation areas. Of this, 41,697 – more than 10 percent – have been preserved within the past five years under the O’Malley-Brown administration.
The three-member Board of Public Works comprises O’Malley (chair), Treasurer Nancy Kopp, and Comptroller Peter Franchot. The BPW is authorized by the General Assembly to approve major construction and consultant contracts, equipment purchases, property transactions, and other procurement actions.
Spring Snow - March 2013
A fairly average snowstorm left about a foot and a half of wet snow on the Garrett County ground this week, which then began to melt by yesterday afternoon as the temperatures rose into the upper 30s. Perhaps it is too much to hope that this might be the swan song of storms this season, but the forecast does indicate a warming trend over the next few days, with snow tapering off, rain coming in, and the mercury expected to reach 50 by Monday afternoon. A change from what this photo shows, taken Wednesday morning by Erica Carlson of Oakland.
