3BR Townhouse in Abingdon, MD – Short Sale – Must Sell

3 BR, 1 BA with 2 half-bath end of group Townhouse in Abingdon, MD is available for sale. It features an open floor plan, large kitchen/dining room combo, large deck facing woods, laundry room with washer and dryer, and large lower level family room with fireplace. This is an excellent property for 1st-time home buyer in attractive TH community. Property is in good condition.

This TH is ideally located in Harford County with easy access to I-95, Hwy. 22, Hwy. 24 and a short commute to Aberdeen Proving Grounds. Baltimore is just 15 minutes away.

Property is listed with CDPE, Short Sale Listing Agent. Offers subject to lender approval.

For additional info on the property, visit MD Short Sale Real Estate.

3BR, 1.5 BA Townhouse in Aberdeen, MD – Short Sale – Must Sell!

This 3 bedroom 1.5 bath end of group townhouse features an open floor plan with livingroom/dining room combo, rear deck with fenced yard, and large semi-finished basement with fireplace.

Property does require some minor repairs and cosmetic work. Basement could be converted into seperate apartment with private entrance. Investors should take a look at this property.

Easy access to Hwy 22 and I-95. Very short commute to Aberdeen Proving Grounds.

For additional infomation on the property, please visit MD Short Sale Real Estate.

$8,000 First Time Home Buyer Tax Credit for 2009

The tax credit at a glance:

The tax credit is for first-time home buyers only.

The tax credit does not have to be repaid.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.For more details, click here.

Rehab Special – 2/1 Rowhouse – Short Sale

2560 Marbourne Ave, in the Lakeland subdivision of Baltimore, is a 2 bedroom, 1 full bath, middles-of-group, rowhouse. The main level has a living room and kitcken/dining room combo. There is a fenced back yard. Upstairs are two bedrooms and the full bathroom.

This property will require rehabiltation. The applainces are missing, including the A/C. The kitchen cabinets appear in good condition as does the bathroom fixtures. Possibly a small leak from the upstairs bathroom. Flooring will need to be replaced.

This is a Certified Distressed Property Expert (CDPE) short sale. All offers will be considered. Only one offer will be submitted to lender for approval.

For additional information on the property, please click here.

Sect 8 Investment Property – 2/1 Townhouse Recently Renovated & Leased – SHORT SALE

This nicely renovated, 2 bedroom 1 full bath, center Townhouse features hardwood floors downstairs and wall-to-wall carpeting upstairs. Brick accent walls and fieplace give this unit great charm. All new applainces and cabinets.

This investment property is currently rented Section 8 for $1,050 per month.

This is a CDPE Short Sale with professional loss mitigation service. Only ONE offer will be submitted to lender for approval. Entertaining all offers.

For more information on the property, please click here.

Startling Statistics

According to First American CoreLogic data release, 20% mortgaged properties in the U.S. were in a negative equity position at year-end 2008.   Negative equity and near negative equity mortgages combined (within 5% of being in negative equity territory), now account for 25% of all residential properties with a mortgage nationwide.  In December 2008, 5.3% of all mortgage properties were in servere negative equity where Loan-to-Value it more than 125%.

According to a December study by the Comptroller of the Currentcy, more than 55% of the loans modified last year re-defaulted after six months.

The falling prices and improving home affordability combined with mortgage rates lingering at historic lows drove December’s sales increase.  According to Radar Logic, motivated sales rose 177% year-over-year from December 2007 while the sum of all other sales in the 25 metropolitan statistical areas fell by 17%.

It’s a great time to buy!

The falling prices and improving home affordability combined with mortgage rates lingering at historic lows all makes it a great time to buy!

Market Indicators – Jan 2009

For the first time in years, Months Supply of Inventory is actually lower than it was one year ago.  While the market remains firmly in the buyer’s favor, this indicates that the pendulum is slowly working its way back towards equilibrium.

Home price continue to move downward due to increase sales of foreclosures and short sales.  The median sales price in January was $250,000, down 17.4 percent from last January.

Home sales are continuing their recent upswing as mortgage rates fall.  Pending sales in January were up 16.3 percent over January 2008 with 8,028 units.  Closed sales, which typically lag behind pending sales, were down 1.1 percent with 5,095 units.

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Baltimore City Q4 2008 Trend Report

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Baltimore County Q4 2008 Trend Report

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