Tax Credit Not Extended
The tax credit extension bill did not pass in the Senate today. Those qualifying buyers who wish to receive the credit MUST close by next Wednesday, June 30, 2010.
Senate Votes to Extend Tax Credit Deadline for Settlement to September 30, 2010
The Senate voted and passed a proposal tax credit deadline for settlement for those who were under contract by April 30, 2010 from June 30, 2010 to September 30, 2010. This is GREAT news for buyers who are facing issues with either financing, short sales, or other issues which could have delayed their closings, due [...]
Baltimore Real Estate Sales Down in May 2010
Baltimore real estate sales were down in May 2010, a noted amount after the Homebuyer Tax Credit ended. As noted from MRIS, the local Multiple Listing Service, pending sales decreased 13.7% compared to May 2009. April 2010 had 16,089 contracts written. May had only 9,527, which is 6,562 less! The good news is that the [...]
Maryland Taxation of Forgiven Debt in Short Sales
The Maryland Taxation of Forgiven Debt in Short Sales bill was signed by Mayor O'Malley on May 20, 2010. This is great news because it PREVENTS the tax of the debt forgiven. A few counties in Maryland -- Anne Arundel, Prince George's, and Montgomery had begun charging recordation and transfer taxes based on what was [...]
What Not to Pack
Many times people are not sure of what not to pack when moving either for the movers or for yourself! RISMedia and Lowe's came up with a great list to help. For irreplaceable items, I recommend taking them with you in your car. Unfortunately many times things get broken. You want to make sure to [...]
Mortgage Rates Drop Very Low
Mortgage rates drop very low -- below 5% -- as international money comes into the United States. The US bonds are seen as a safe haven in light of the financial troubles in Europe, and this is having a nice result in our country. The Wall Street Journal reported this morning that interest rates were [...]
6 Timberwood Ct Hunt Valley Station
6 Timberwood Ct in Hunt Valley Station is a four bedroom Faust built home located on a court with a level yard. *UPDATED JUNE 24, 2010, SETTLED.* The hardwood floors and ceramic tile are in fantastic condition, as is the carpet on the second floor and lower level. The kitchen has granite counters, and a [...]
5 Ringleaf Ct Hunt Valley Station
Yesterday I was able to view 5 Ringleaf Ct in Hunt Valley Station -- a very well maintained home on a quiet court on the market for $572,900. *Update June 17, 2010, 5 Ringleaf Ct in Hunt Valley Station was withdrawn from the market.* The kitchen is nicely updated, and the hardwood floors in great [...]
Tax Credit Contract Deadline Passed
The tax credit contract deadline passed last night at midnight, so buyers who may have qualified yet were unable to get a legally binding contract in place are no longer able to get the credit, even if they settle by June 30, 2010. Though I did see an increase in the Baltimore real estate market [...]
Tax Credit Ending Questions and Concerns
Guest blogger, T Jeremy Loomis, Sales Manager for Wells Fargo Home Mortgage, talks of tax credit ending questions and concerns. Is it time to change how buyers view contract issues with the tax credit ending? Probably… We have seen a market recently that one would call a “buyers market”, where the buyer has more control [...]