Frederick Md Homes For Sale – The Historic District

Governor O’Malley has announced his budget proposal which includes a cut to the MID, Mortgage Interest Deduction.  This will certainly have a negative impact on Maryland homeowners.  I would highly suggest you read more about this proposal in the Budget Reconciliation and Financing Act and contact Governor O’Malley’s office with your opinion. [I just called the office and gave them a piece of my mind.]  You can reach Governor O’Malley’s office at 410.974.3901 and voice your opinion as a taxpayer and resident of the state of Maryland.

MID at Risk

According to the Washington Post: “Under O’Malley’s plan, a single Maryland taxpayer whose federal adjusted gross income is more than $100,000 would see a 10 percent reduction in the amount they could claim in state income tax deductions. A single earner making more than $200,000 would see a 20 percent reduction.”

Dirty Political Tactics?

Instead of introducing the proposal as a separate bill, where it would have a hearing at which MAR could testify, the Governor is including it in BRFA, the Budget Reconciliation and Financing Act, which means that there will be no hearing or testimony on this specific provision. [This is just WRONG] The proposal to reduce deductions for Maryland taxpayers will disproportionately burden Maryland homeowners. Haven’t we been beat up enough?

Some Statistics about Maryland Homeowners

Over 50% of Maryland taxpayers itemize, the highest proportion in the country.  Maryland has the highest percentage of taxpayers, almost 38%, claiming the mortgage interest deduction.  The mortgage interest deduction and real estate taxes account for almost 70% of total deductions for Maryland taxpayers.  In 2008, almost 1.1 million Maryland taxpayers claimed the mortgage interest deduction.  That same year, over 1.1 million Maryland taxpayers deducted property taxes.  Real estate accounts for over 20% of Maryland’s gross state product.

Housing and real estate are one of the most heavily taxed sectors of the economy, and Maryland has one of the most aggressive real estate tax structures in the country.  Maryland property owners already carry a significant tax burden, contributing the majority of revenue to local jurisdictions as well as 4.6% of state tax revenues. The average percentage of state tax revenue from real estate nationally is only 1.8%.  [Source: Joe Albero 1/24/2012 sbynews.blogspot.com]

Governor O’Malley’s office  410.974.3901

____________________________________________________________

The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

The number of new foreclosure filings has been declining throughout 2011, in December they fell 9% from November to a 49-month low. That said, the number of homes already in foreclosure and coming to the market is steady. The end is in sight, but still far down the road, maybe 3 to 5 years.

These statistics that we see in the headlines always need to be filtered through the important fact: All Real Estate is Local.

There are 4 states that house 50% of the foreclosures in the nation:

• California, 26%
• Florida, 12%
• Michigan, 6%
• Illinois, 6%

Maryland is number 28 on the list of 50 states, and Frederick County is second to Prince George’s County.

All Statistics are from RealtyTrac.com.

_____________________________________________________________

The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

Historic Homes can be drafty. Modern homes can be as well. Caulk can be a great solution. Just like I’m fond of saying: “Paint covers a multitude of sins”, I also believe “Caulk is a homeowner’s best friend.”

Here’s a very useful guest post from our favorite home inspector, David Goldberg.

Caulk creates a flexible seal in cracks, gaps or joints no bigger than 1/4″ to 3/8″ in width. Caulking will seal air leaks, especially around windows and door frames. It also prevents water damage when applied around faucets, water pipes, bathtubs and other plumbing fixtures. For larger openings, you can use insulating foam sprays to seal up gaps between siding and masonry or vents. Here are some tips:

1. Clean all areas to be caulked. Use a putty knife or large screwdriver to remove old caulk and paint and make sure the area is dry.

2. Hold the caulking gun at a consistent angle–45 degrees to get deep into the crack. You’re at the correct angle when the caulk goes in immediately as it comes out of the tube.

3. Apply the caulk in one straight continuous stream, without stops and starts.

4. Avoid bubbles by sending caulk to the bottom of the opening.

5. Make sure the caulk is sticking to both sides of the crack.

6. If caulk oozes out of the crack, push it back in with a putty knife.

7. If the caulk shrinks, reapply it, forming a smooth bead that seals the crack completely.

8. For windows, apply caulk to all joints in the frame and to the joint between frame and wall.

9. If the crack is deep, use a “backer rod” — a round foam rod sold by the roll in various diameters. Pick one slightly bigger than the gap. Cut the rod and press into the gap so it’s just below the surface. Then caulk on top of it.

10. For bigger gaps, use an insulating foam spray you can buy in a hardware or home supply store. It dries like styrofoam and can be painted if necessary.

*  *  *

Thanks David!

~ A Guest Post from Home Inspector David Goldberg

David Goldberg –   Home Inspector

phone:   301-913-9213
fax:   301-774-4554
Reliable Home Services, Inc.
PO Box 5159
Laytonsville, MD  20882
ASHI Member #101584
MD License #29322

*                   *                   *                   *                   *
If You have a remodeling project in mind, contact us for a list of professionals we™re proud to recommend

The Highland Group
8923 Fingerboard Road
Frederick Md   21704
301-831-9947 Direct
301-831-8232 Broker

Frederick County Real Estate Market Report

for December 2011 provided by the Highland Group,

Here are the highlights:

Notes: There are currently 954 homes listed for sale in Frederick County. (We can’t remember the inventory ever being this low.) This makes roughly a 5-6 month inventory, a balanced market.     22% of sales were cash deals, reflecting a lot of investors buying the many bargains on the market.  There are fewer foreclosures on the market at this time, less than 40, but we’ve written about the Shadow Inventory, and expect more distressed homes coming on the market this year. A large number, about 20% of homes listed right now are Short Sales.

*Other notable sales statistics: Sellers got 91% of list price on average, compared to 93% at this same time last year.

A Historic Look:

This chart shows the high number of Pending Sales throughout 2011, compared to the actual number of sales that closed.

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

____

Compare to Previous Frederick County Real Estate Market Statistics

_____________________________________________________________

The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

______________________________________________________

Frederick Md Real Estate Market Reports

provided by The Highland Group
Statistics for December 2011 have been published by MRIS*.
Here are the highlights for 21703 in the City of Frederick:

*     *     *     *     *     *

This zip code shows 115 active listings, representing roughly a 4-5 month inventory.  Sellers got an average of 91% of list price this month, compared to 94% this time last year.  21% of sales were cash deals.

*     *     *     *     *     *

Notes: The inventory has been declining steadily, creating a lower absorption rate.  (Absorption rate = how long it will take to sell the homes currently on the market) Cash buyers are a still a significant part of the monthly sales.  Foreclosures are declining for the time being, but we expect more to enter the Frederick real estate market during Spring and Summer 2012.  Short Sales are outdoing foreclosures, showing that banks are catching on to the process and working out their systems and processes. Banks and investors tend to lose about 15% to as much as 20% less on a short sale than on a foreclosure. Prices are leveling off in most of the county. We see a decline in average and median sales prices from last year, but month over month we see little movement.

*     *     *     *     *     *

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

Compare to Previous Frederick County Real Estate Market Statistics

_____________________________________________________________

The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

Frederick Md Real Estate Market Reports

provided by The Highland Group

Statistics for December 2011 have been published by MRIS*.
Here are the highlights for the 21702 zip code in the City of Frederick:

There are currently 161 active listings in the zip code, representing roughly a 5-6 month inventory.   Sellers got 89% of list price on average, compared to 91% last year.  27% of sales last month were cash deals. Lots of bargains were bought this month.

MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

Compare to Previous Frederick County Real Estate Market Statistics

_____________________________________________________________

The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119