What is Interfaith Housing

We have a local chapter of Interfaith Housing right here in Frederick.  They are located at 731 North Market Street in downtown Frederick.  They bring people together to build affordable housing communities and help put people in homes.  They are a not-for-profit organization that work to make affordable housing through homeownership, affordable rentals for seniors and affordable rentals for low income families.

Homeownership is one of their missions.  One way to own a home through them is to help build your home.  This replaces the traditional down payment.  They understand the problems that lower income families have and offer solutions to assist in homeownership.  Your sweat equity is your down payment…they call it Self-Help.

Self-Help

The Self-Help program provides affordable homeownership by replacing the traditional 10% down payment with sweat equity.  Participants work 30 hours a week toward the construction of their home which may take nearly one year.  These families work alongside their future neighbors in building each other’s homes and  community.

Financing is provided by the USDA at lower rates than conventional lenders. ~Interfaith Housing Website

They are always looking for Partners and Volunteers.  Stop by their website and see if you qualify for their assistance, if not stop by to see if you can help build a better community.  You can also just call them at (301) 662-4225.  They are currently looking for help in Frederick County with Monocacy Woods Project and Hope VI Project.

Market Conditions around New Market MD

Let’s take a closer look at the New Market area.  This has always been an attractive area with all the historic buildings downtown and the ever popular Lake Linganore area.  Something about water and people…we just gravitate to it.  We enjoy its calming affect.   Conveniently located just off Interstate 70, you have a quick commute to Baltimore or Washington DC.

You have a variety of homes around the lake; small to moderate townhomes, small to luxurious single family homes.   With this amount of selection in homes, home buyers have the opportunity to live in this area at any price.  Currently on the market in New Market;

• 138 Single Family Homes  – $129,900 to $999,999
• 20 Town Homes  -  $234,900 to $424,900
• 4 Condos  -  $207,500 to $449,900

In the last 30 days, there have been only 12 sales in zip code 21774.  Below is a list of homes that sold in past 30 days;

• SFH – Waters Edge – 6 BD 4 BA – $657,500
• SFH – San Andrew Dr – 4 BD 4 BA – $540,000 ($20,000 seller help)
• SFH – Douglas Ave – 4 BD 2 BA 2 HB – $430,000 ($7,500 seller help)
• TH – Mussetter Ct – 4 BD 3 BA 1 HB – $344,500 ($10,000 seller help)
• TH – Steamboat Way – 3 BD 2 BA 2 HB – $289,900 ($3,500 seller help)
• TH – Steamboat Way – 3 BD 1 BA 1 HB – $277,750 ($11,000 seller help)

There you have a quick snapshot of the what the Market Conditions are New Market MD.  If you have any questions, please don’t hesitate to contact me. 

Related Links:

• Buying a house in Frederick MD What do you need to know.
• Buying a house in Frederick MD Part two
• The Best Investment
• Should You Try to “Time the Market”?
• The Effect of Changing Jobs
• School Information
• Community Information

Rentals in Frederick County Maryland

There has been a lot of focus on the sales in Frederick MD Real Estate.  Let’s take a look at the rental market.  Frederick County has been experiencing a good rental market in my opinion.  As the Real Estate Market has its problems, rentals tend to pick up.  Some sellers turn to the rental market for some relief.  They have been waiting a long time to sell their house, but can no longer endure the monthly grief of making two mortgage payments.  Don’t be surprised when you read through the list of current available rentals in Frederick, that you see it is also on the market to be sold.  Don’t worry, once you sign a lease you have laws that protect you.  You can read up on the Maryland Laws about Landlords and Tenants at Mitchie’s Legal Resources.   There might be clauses included in your lease that allows the owner to take back possession of his property if he is transferred back to the area.  This is called the Owner Transfer Clause.  If the owner sells the house while you are occupying it, there is wording to protect you.  Make sure you read your lease and ask questions before signing.  Most disputes can be resolved by both parties if they agree ahead of time on the lease. 

 I still believe that homeownership is the way to go, but there are times and circumstances when renting your home is the best solution.  If you only rent because you think you could never own, please call one of my Preferred Lenders.  You might be surprised at what you can afford to buy.  It might not be your dream home right off the bat, but it will be yours.  If you are still looking to rent, I have provided you a list of current rentals in Frederick and also the websites to a few Property Management Companies that offer rentals.  As always, if you have any questions, please don’t hesitate to contact me.

• List of Rented homes in the last 60 days 
• Currently available Rentals in Frederick County throught MLS
• PMP Inc, Property Management People.  Ask for Shannon Netro
• Noahs’ Preferred Property
• Professional Property Services
• Frederick County Associations of REALTORS® Resource page

Information about the actual rentals were provided by Metropolitan Regional Information Systems. 

Affordable Housing Committee Assists Home Sales – $25,000 Awarded!

This article was written by a fellow Affordable Housing Committee member Judy Thompson of Mackintosh Realtors on Patrick Street.  If you have question you can contact here at 301-662-0155.  Judy writes most (if not all) of our article that are placed in the Frederick News Post and the Gazette.

In its June meeting, the Affordable Housing Committee awarded $15,000 to three applicants for closing cost/down payment assistance. Each applicant received a deferred loan of $5,000. At the July meeting, history repeated with two applicants receiving a total of $10,000

Applicants must be 18 or older, must meet all first mortgage guidelines, must contribute at least $500 of their own money, must occupy property as a primary residence, must own no other property, and must meet income limit restrictions. The properties purchased must be within Frederick County, must be owner-occupied and cannot be rented or used for business purposes and must pass a home inspection by a certified home inspector.

Monies used to date have come via grants from The Partnership for Housing and the Board of County Commissioners. The Committee will be seeking corporate sponsorships as well.

We are hopeful that one or more of the recipients will agree to write a column in the future so that you can get to know them. These folks are contributing members of Frederick County’s Workforce.

UPCOMING LUNCHEON FOR TEACHERS NEW TO FREDERICK COUNTY!

Frederick County Association of REALTORS® is sponsoring the 2^nd Annual Welcome Luncheon for teachers new to the county. The event will be held August 16^th at Urbana High School. Frederick County Public Schools expects 350-375 new hires this year. Terry Fox, FCAR’s President will welcome the teachers to Frederick County. Members of the Affordable Housing Committee will be on hand to assist with arrangements and hand-outs. Members have been busy soliciting non-commercial materials of interest and help to people moving into the county. 

Rental Property for Teachers? If you have a property to rent and would consider a teacher, contact Holly Changuris, Frederick County Teachers Association (FCTA), @301.662.9077 or hchanguris(at)mstanea.org This is the same list the Human Resources Department of Frederick County Public Schools uses.

Home Buying Workshop

If you are interested in learning the ins-and-outs of buying a home, Please come to our Home Buying Workshop. 

When?

• Thursday, September 6, 6PM- 9PM. 

• Saturday, October 20, 9AM-Noon 

• Monday, November 5, 6-9PM.

Where?: Frederick Community College, Bldg E, Conference Center

How Much? $10 at Door ($5 to FCC, $5 FCAR Deferred Loan Program) 

Questions?: FCAR 301.663.0757. We hope to see you there!

See Also:

• Buying A House in Frederick MD What do you need to know?
• Buying a house in Frederick Part two
• Buying a Home in Frederick – Home inspections Part III