A stroll through Downtown New Market MD
November 21, 2007 by Bob Carney
Filed under Real Estate Topics
I had the luxury the other day to just take a walk through Downtown New Market. What character this little town has. The antique shops, the restaurants and the historic buildings are wonderful. I can’t believe how charming the “General Store” was!!! View the show and take a look at the extra photos for more. These cool fall days are a great time to visit downtown New Market. Finish off the evening with dinner at Mealey’s Restaurant. (Mealey’s has recently been sold to new owners)
Looking for a charming little town to hang your hat at the end of the day? New Market is that place. Conveniently located just off Interstate 70 between Frederick and Baltimore. You will have a quick commute to work…DC included. With modern day amenities close by, you can still escape the hustle and bustle of big cities here. Most building are on the historic registrar. Newer homes available down the street in communities like Lake Linganore, Westwinds, Eaglehead and more.
Looking to relocate to this area…give me a call. I’ll be glad to help you with your move.
Market Conditions for Whittier Pond
November 19, 2007 by Bob Carney
Filed under Real Estate Topics
Let’s take a look at what’s happening in one of the popular communities in Frederick County called Whittier Pond. Built back in the early 1990s, you have a wide selection of homes in this area. Condos, townhouses and single family homes throughout the community. With a full array of amenities; Walking paths, basketball courts, tennis courts, three community swimming pools and a seven acre lake help to build a stronger community feeling. The lake offers a peaceful evening stroll or morning jog. Picnic table riddle the shoreline for an afternoon picnic.
Newer single family homes are being built right now with a price range of $440,000 to $650,000. The Vistas at Whittier offer spectacular views of the city.
If you are not ready for brand new, there are plenty of previously enjoyed homes to choose from…Contact me for a detailed list of active homes. (or Search MLS for Free here)
Here’s a snap shot of the latest activity.
Market in Whittier Pond 11/19/07
| Active | Under Contract | Sold in last 90 days | Ave. Days on Market | |
|---|---|---|---|---|
| Condos | 1 | O | O | 102 |
| Town Homes | 19 | 5 | 4 | 140 |
| Single Family | 9 | 1 | 1 | 133 |
| Total | 29 | 6 | 5 | 137 |
Have a great day.
Looking to buy real estate – Need to know the glossary
November 14, 2007 by Bob Carney
Filed under frederick real estate, Real Estate Topics
Buying and selling real estate can be confusing. That is one reason you should always hire a trained professional… a REALTOR®. While this might be your first or fifth transaction. REALTOR® will guide you through the sea of paperwork and keep you informed of your options. If you are looking to buy or sell real estate in Frederick County, you need a local expert. I don’t need to tell you that “I are one” You can see that I am very involved with functions and events in Frederick MD. I enjoy being part of this community and I would enjoy helping you settle down in this area.
I traditionally like to write something educational about real estate on Wednesdays… So here’s my tidbit of knowledge for you today.
Glossary of Real Estate Terms
| Term | Definition |
|---|---|
| Closing | The final procedure in which documents are signed and recorded, and the property is transferred. |
| Closing costs | Expenses incidental to the sale of real estate, including loan, title and appraisal fees. |
| Closing statement | A document which details the final financial settlement between a buyer and seller and the costs paid by each party. |
| Contingency | A condition specified in a purchase contract, such as a satisfactory home inspection |
| Contract to purchase | A contract the buyer initiates which details the purchase price and conditions of the transaction and is accepted by the seller. Also known as an agreement of sale. |
| Credit history | A record of an individual’s current and past debt payments. |
| Credit report | A credit bureau report that shows a loan applicant’s history of payments made on previous debts. Several companies issue credit reports, but the three largest are Trans Union Corp., Equifax and Experian (formerly TRW ). |
| Deposit | Money given by the buyer with an offer to purchase property. Also called earnest money |
| Earnest money | Money a buyer gives with an offer to purchase a property. Also called a deposit. |
| As-is condition | The purchase or sale of a property in its existing condition |
| Gift | A cash gift a buyer receives from a relative or other source. Lenders usually require a “gift letter” stating that the money will not have to be repaid. |
| Good-faith estimate | An estimate from an institutional lender that shows the costs a borrower will incur, including loan-processing charges and inspection fees. |
| Gross income | The total income of a household before taxes or expenses are subtracted |
| HUD-1 Uniform Settlement Statement | A closing statement or settlement sheet that outlines all closing costs on a real estate transaction or refinancing |
| Home inspection | An examination of a homes construction, condition and internal systems by an inspector or contractor prior to purchase. |
| Home warranty | A type of insurance that covers repairs to certain parts of a house and some fixtures. |
| Homeowners association | A group that governs a modern subdivision or planned community. An association collects monthly fees from all owners to pay for maintenance of common areas, handle legal and safety issues, and enforces the covenants, conditions and restrictions set by the developer. |
| Homeowners insurance | This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage. |
| Homeowners warranty | Special insurance policies that cover certain home repairs for a specified amount of time. |
| Inspection report | An examination of a homes exterior, foundation, framing, plumbing, electrical system, heating, air conditioning, fireplace, kitchen, bathroom, roofing and interior. |
| Latent defect | An invisible problem in a piece of property such as bad wiring, termite damage or lead paint. |
| Mortgage insurance | Required by lenders in some loans to protect them from a possible default. All conventional loans with less than a 20 percent down payment require private mortgage insurance, or PMI. |
| PITI (Principal, Interest, Taxes, Insurance) | When a buyer applies for a loan, the lender will calculate the principal, interest, taxes and insurance. The figure is designed to represent the borrower’s actual monthly mortgage-related |
| Radon | A ground-generated radioactive gas that seeps into some homes through sump pumps, cracks in the foundation and other inlets. A leading cause of lung cancer, radon is found in mostly the northern half of the country. |
Have a great day. And remember, it’s always a great day to buy.
Do you feel like a Nation of Sheep?
November 4, 2007 by Bob Carney
Filed under Real Estate Topics
I came across this video before I realized it was a sales pitch. He makes some pretty valid points. Freedom of speech allows me to write this blog.
I started to think how his points even apply in Real Estate. Sure its not the government that is leading everyone to the Kool-Aid, but the media. They are making everyone believe that this housing slump is National. Real Estate has been and always will be local. It even drills down a very local level. One neighborhood might be selling in Frederick, while another one a few miles down the road isn’t selling as well. Sure, we are seeing above average Foreclosures in Frederick County, but we are no where near the number of foreclosures as seen in Southern Florida, Detroit Michigan and around the Denver area. The national average was 1 out of 189 homes are in foreclosure proceeding. The last I heard in Maryland, we were around 1 in 290 homes. Bad, but not horrible. Don’t listen to the media…listen to your REALTOR®. If the time is right for you to buy, there is no time like the present. (remember if you’re selling in a bad market, you’re buying in one too. Obviously, the same applies when you sell in a great market…so it’s a wash either way)
[youtube:http://www.youtube.com/watch?v=Gs9GTbMtJ3E]
Bob Carney
