How do I know if this is the right time to buy a home?

03 Mar
March 3, 2009 Based upon the plethora of news articles about the general economy and the dire straights of the housing market that inundate the potential home buyer on a daily basis, it's surprising all of us don't head for the hills and hunker down for the long haul.  The reality is that people are making decisions and buying homes every day, and the pace is beginning to pick up.  Trying to outguess the market, either at the top or the bottom, is always a difficult task. Generally speaking, I have always believed if you wait until someone tells you the market is at the bottom, or top for that matter, you will have waited too long.  Markets always move faster than the collection and analysis of data Read more [...]

LoCo in MocCo! How to handle the plunging real estate market in Montgomery County, MD

03 Mar
March 3, 2009 Montgomery County has plunging home prices, but that doesn't mean that a buyer should not act now to seize some golden properties for future capital gains Read more [...]

Own a Home but Need to Move? Consider Turning your Home into a Rental to Ease the Burden

03 Mar
March 3, 2009 In the last 2-3 years, the Real Estate world has been focused on foreclosures that have flooded the market, and rightfully so. These foreclosures have impacted our local market significantly, causing home values in many neighborhoods in Maryland, DC and Virginia to drop significantly. Even though prices have finally begun to stabilize a bit in some local markets, the significant drop in home values has affected all homeowners in our region - especially those who are looking to make a move but are burdened with a home that has seen a significant drop in value. However, this situation is not untenable. Many homeowners who are in this situation need not feel trapped by this market - looking to Read more [...]

Interest Rate Deduction and the Obama Budget Proposal

27 Feb
February 27, 2009 If you are following the news that is beginning to leak out about President Obama's budget proposal you may be aware of a small section of the budget plan that may affect all homeowners, or potential homeowners.  As the plan is currently drafted the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000.   This begins to chip away at the most substantial deduction most taxpayers have, and could conceivably lead to further erosion of home values.  Expressing your opinion directly to representatives in Congress might be a worthwhile few minutes of your time. Search for Homes: www.averyhess.com Read more [...]

Why 2009 is the best time in 5 years to Purchase Real Estate

27 Feb
February 27, 2009 So, you ask, why now? What makes 2009 different than 2008? What has changed? Why should I invest in a home? Interest rates are at ALL TIME lows. NEVER have we seen 30 year fixed mortgages obtainable in the low 4% range. With our without continued government assistance, these are truly remarkable interest rates. Lenders are protecting buyers. No longer are lenders relying on the borrower to tell them what they can afford. Lenders are qualifying  buyers based on facts, and putting them into mortgages they can afford, now and for the future. If you are qualified, we have loans and money available. As David Bach (Noted financial guru and author of multiple books on creating personal wealth) Read more [...]

A Mortgage Banker's Take on the $8000 Tax Credit

27 Feb
February 27, 2009 There has been a lot of interpretation and paraphrasing on the new Tax Credit. Below, for your information, is the mortgage bankers take. A couple points of interest: Iit is NOT a loan, and cannot be used for down payment money. It DOES have a limit, based on the sales price of the property. Typically (but not always), in this area the maximum will be available. It DOES have an income limit for full availability. Limits on both single and married buyers. It does phase out the more your earn. It CAN be accelerated for use in 2008, or 2009 taxes. There IS a "first time homebuyer" requirement, defined as 72 months (3 full years) of non-home ownership. There ARE stipulations on the future Read more [...]

The Housing Industry will lead our Economic Recovery

25 Feb
February 25, 2009 President Obama gave his first official address to a joint session of Congress last night. I, much like many others, blocked aside time to watch President Obama address the nation, and more specifically, address the state of the overall health of our economy in general. President Obama understandably focused the majority of his speech on the economy—the issue that is on the minds of every citizen of this great country. He laid out an economic recovery plan that was large in scope and complex in nature; an aggressive plan that has the hopes of a nation riding on it. After listening to his speech and subsequent rebuttal by Gov. Bobby Jindal (R), I am fairly certain of one thing- I firmly believe Read more [...]

"UP and COMING" and still Coming Up, Some DC neighborhoods buck the trends…

25 Feb
February 25, 2009 Learn about the DC neighborhoods that are bucking the trends, as well as other neighborhoods to watch down the road. Read more [...]

Text-on-Demand on every listing available in the Washington DC Market

24 Feb
February 24, 2009 About 4 months ago, we unveiled our text-on-demand technology available for all consumers who list their home with Avery-Hess, Realtors. This service has worked out tremendously, adding yet another avenue with which to share information about your home for sale with the ever-increasingly tech-savvy homebuying public. We are currently working on making this tremendous technology available on every lsiting available in the Metropolitan Washington, DC area including Maryland and Northern Virginia. This technology will enable a prospective home purchaser to text the keyword AVERY to 59559 from their mobile device and receive information about any active property, instantly, via text message delivered Read more [...]

Washington DC – the BEST Place for Real Estate in 2009

23 Feb
February 23, 2009 In a recent survey released by Forbes Magazine, Washington DC was named the best place to invest in Real Estate in 2009. The turmoil in the financial and credit markets coupled with 4 years of falling home prices have created a "perfect storm" for first-time homebuyers and investors. While the Forbes article focused on Real Estate Investment, this current Real Estate market in the DC area (which includes Maryland and Northern Virginia) provides an opportunity for a wide spectrum of home ownership not seen in the area in more than half a decade. Home prices are affordable again for many home purchasers, and  coupling that with interest rates hovering at or below the 5% mark really makes for Read more [...]