Ellicott City Realtor Catonsville Realtor

Open House Report for September 4, 5 and 6: Baltimore County: Catonsville, Halethorpe and Arbutus

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 03 Sep 2010 15:02:39 -0400

Open House Report for September 4, 5 and 6: Baltimore County: Catonsville, Halethorpe and Arbutus. Below are this weekend's Open Houses:

Catonsville

Halethorpe and Arbutus

If you have any questions, please feel free to contact me.

Open House information has been provided by the listing agent, and is not guaranteed to be correct.

Tim McIntyre, GRI
tmcintyre@cbmove.com
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Visit my website at www.timsellshomes.com.
Ellicott City Realtor, Catonsville Realtor serving Howard County, Carroll County and Baltimore County for more than 25 years.

Open House Report for September 4, 5 and 6: Howard County: Elkridge, Ellicott City and Columbia

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 03 Sep 2010 14:59:57 -0400

Open House Report for September 4, 5 and 6: Howard County: Elkridge, Ellicott City and Columbia. Below are this weekend's Open Houses:

Elkridge Open Houses

Columbia Open Houses

Ellicott City Open Houses

If you have any questions, please feel free to contact me.

Open House information has been provided by the listing agent, and is not guaranteed to be correct.

Featured Listing Friday - Totally Renovated Parkville Home - HUGE Reduction!!!!

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 03 Sep 2010 10:36:24 -0400

Featured Listing Friday - Totally Renovated Parkville Home
Great Location near Convenient Shopping and the Beltway

Now Offered at Just $194,900

You Don't Need to do a Thing! Immediate Occupancy - Move Right In! Painted Top to Bottom, New Carpet Throughout, New 6 Panel Doors. New Furnace and Central Air.

3 Bedrooms
1 Bathroom
Updated Kitchen had Maple Cabinets, New Floors, New Refrigerator and Range
Updated Bath
Finished Lower Level with Separate Laundry Room
Washer and Dryer Convey
Maintenance Free Exterior
Fenced Rear Yard with Nice Patio

View Totally Renovated Parkville Single Family Home in a larger map

Practical, Unique, Easy Living Spaces - What Buyers Want Today

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Wed, 01 Sep 2010 17:14:56 -0400

Practical, Unique, Easy Living Spaces - What Buyers Want Today. As highlighted in a recent REALTOR magazine article, the American Institute of Architect's first quarter Home Design Trends survey showed that owners are trending more toward a preference of smaller, easier to maintain homes. Less formality, more open, flexible layouts. Consumers are moving away from the ‘Mc Mansion chapter of design', and favoring homes with unique architecture and character.

Here in Maryland, a ‘McMansion' would typically be a home that is greater than 4000 square feet, will probably be listed for greater than $1 million, and will more than likely be located in Western Howard County.

If you are like the consumers surveyed and are looking to move away from the cookie cutter design that McMansions offer, in Maryland you can find a distinctive home with interesting architectural qualities, with plenty of room for entertaining and everyday living, but without the formality of a McMansion.

If you're looking for you're one of a kind dream home with acreage to spare, and yet still in a great location for commuting to Washington DC and convenience - what is available here in Maryland?

The home at 8100 Hunterbrooke Lane in Fulton, Maryland has all of these qualities and more. The vast kitchen overlooks the spacious sunroom which opens to the pool deck and rear lawn, making these spaces the hub of this home.

The floor to ceiling bookcases in the library and the spacious dining room give the home its formal air, without the feeling of being stuffy or off-limits. A loft overlooking the family room makes for an exceptional home office - private, yet connected.

Cathedral ceilings and floor to ceiling windows make the Master Bedroom appear open, and yet you won't be saddled with the upkeep of unnecessary extra space you simply don't need or use.

Situated on nearly 11 acres backing to the Rocky Gorge Reservoir, as you drive down the wooded driveway, this home's privacy gives you the feel of entering a large estate, yet the home itself is better suited for the reality of today's casual lifestyle. Now listed at just $950,000.

Thinking of Making an Offer on a Short Sale? What You Need to Know

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Wed, 01 Sep 2010 14:29:02 -0400

The following article is printed from REALTOR magazine, and I think it does a great job of explaining what you need to know if you are considering making an offer on a Short Sale. Although Short Sales have been very common in other states in the past few years, it has only been recent here in Maryland where we are seeing the influx of Short Sales in our market. Here's what you need to know about making an offer on a Short Sale:

Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? That's true, but it pays to know a little about the seller's situation before you make an offer.

If a home is being sold for below what the current seller owes on the property-and the seller does not have other funds to make up the difference at closing-the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You're a good candidate for a short-sale purchase if:

You're very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller's lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.

Your financing is in order. Lenders like cash offers. But even if you can't pay all cash for a short-sale property, it's important to show you are well qualified and your financing is set. If you're preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.

You don't have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property-or you need to be in your new home by a certain time-a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you're serious about purchasing a short-sale property, it's important for you to have expert assistance. Here are some people you want to work with:

Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who's knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.

A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn't know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they've represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as "lender approval required.")

Title officer. It's a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic's lien, homeowners association lien, etc.), it's much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you've waited for months for lender approval. If you don't know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you'll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.

Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you've already negotiated, which may not be agreeable to you.

No repairs or repair credits. You will most likely be asked to take the property "as is." Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

* Not all real estate practitioners are REALTORS®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS® and is bound by NAR's strict code of ethics.

Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA. Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Open House Report for August 28 - 29: Catonsville, Ellicott City, Elkridge, and Columbia

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 27 Aug 2010 10:34:12 -0400

Open House Report for August 28 - 29: Catonsville, Ellicott City, Elkridge, and Columbia. Below are this weekend's Open Houses:

Elkridge Open Houses

Ellicott City Open Houses

Columbia Open Houses

Catonsville Open Houses

If you have any questions, please feel free to contact me.

Open House information has been provided by the listing agent, and is not guaranteed to be correct.

How to Get a 'Good Deal' on a House

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 27 Aug 2010 09:45:44 -0400

How to Get a 'Good Deal' on a House. There will always be Buyers that are willing to look outside of their price range and make a low offer. This happened to me recently when I received an offer on a home that was significantly below market value.

The home was already listed well below other comps, but the Sellers were willing to entertain the Buyers' very low offer and hopefully find some middle ground that would be amenable to everyone involved. We prepared what I considered to be an excellent counter offer, and one that most Buyers would jump at.

But we didn't hear a word.

Instead, the Buyers walked away from the deal, on to the next listing to lowball. When I called the Buyer's agent to find out what had happened, she said "Tim, this is what these people do. This is the third contract I've written for them, the third time it was a low offer and the third time they have walked away."

I won't comment on why this agent continues to work with these clients, or on their motivations as Buyers. What I will do is give a little bit of advice to those who are in the market for a home.

Everyone says you can offer anything you want for a home - it's up to the Seller if they will accept it. And this is true. You can write an offer for a million dollar home for $1 and see if the Seller will accept it (if you can find an agent willing to write it for you, that is).

Or, if you're truly serious about buying a home, you can look slightly above your price range for a little bit more house and make a low offer. This might be something you consider trying if you have looked and looked in your price range and simply aren't finding what you're looking for.

But if you are, in fact, serious about buying a home, be realistic, and be prepared to negotiate that offer to some extent. Just because a Seller has had their home on the market for 87 days does not mean they are going to give you their home for 30% less than market value. Be prepared to come up in price, or come down on concessions, or a little bit of both. Be prepared to go back to your Lender to get approved for ever so slightly more and see if your Lender thinks it might work. Be prepared to compromise.

When it's handled professionally, with great agents involved on both sides, a serious Buyer can negotiate a lower price on a home slightly above their price range, and come out of the deal feeling like a winner.

Market Report Monday - Baltimore County Market Update, July 2010

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Mon, 23 Aug 2010 14:49:26 -0400

Market Report Monday - Baltimore County Market Update, July 2010. Click on Full Screen to view this report.
If you have any questions about this report, feel free to give me a call, or click here to request more information.

Baltimore County Real Estate Market Update, July 2010

Open House Report for August 21-22: Catonsville, Ellicott City, Elkridge, and Columbia.

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 20 Aug 2010 16:22:12 -0400

Open House Report for August 21-22: Catonsville, Ellicott City, Elkridge, and Columbia. Below are this weekend's Open Houses:

Elkridge Open Houses

Ellicott City Open Houses

Columbia Open Houses

Catonsville Open Houses

If you have any questions, please feel free to contact me.

Open House information has been provided by the listing agent, and is not guaranteed to be correct.

Featured Listing Friday - JUST REDUCED! - Huge Price Reduction on this Custom Home Nestled in the Deep Forest - Private 10 Acre Lot Backing to Rocky Gorge Reservoir

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 20 Aug 2010 11:21:36 -0400

Featured Listing Friday - JUST REDUCED! - Huge Price Reduction on this Custom Home Nestled in the Deep Forest - Private 10 Acre Lot Backing to Rocky Gorge Reservoir

Absolutely Beautiful Ten Acre Setting, yet conveniently located, this home offers many recent Upgrades include Gourmet Kitchen, Large Year Round Solarium, First Floor Master Bedroom Suite, Inlaid Hardwood Floors, Slate Foyer. Two Floor to Ceiling Fireplaces, High Cathedral and Vaulted Ceilings throughout. A Rare Opportunity!
Showings By Appointment Only
Now Only $950,000

4 Bedrooms

3 and a Half Bathrooms

In Ground Pool, Pool House and Deck

Wine Cellar

Loft

Beautiful Landscaping including Stone Patios

Family Room includes Two-Story Floor to Ceiling built-in bookshelves

Fulton Elementary School

Lime Kiln Middle School

Reservoir High School

View Larger Map

Tenant Thursday - Bed Bugs in Baltimore

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Thu, 19 Aug 2010 10:01:39 -0400

Tenant Thursday - Bed Bugs in Baltimore. Ever heard of bed bugs? Yup, they're for real, and they are a real problem. The cost and inconvenience of removal is enormous.

Last year, one of my tenants in a multi family unit had a bed bug problem. As an accomodation, I treated the property using a licensed professional and the property was cleared of bed bugs. The tenant claims they complied with all of the instructions provided to them by the pest removal service.

Fast forward, one year later. The tenant has bed bugs again. Fortunately, it is only this one unit. The other units in the property are bug free.

The tenant works in Baltimore City, and is in and out of the city's high rise project homes. These homes are notorious for their rampant bed bug infestations.

I've checked with the Baltimore County Department of Health and was referred to the Maryland Department of the Environment who told me to again check with the Department of Health. I've given up, and am checking with my attorney.

In the meantime, I'm interested in your opinion - in this scenario, who should undertake the expense of this second infestation?

Howard County Homes on Acreage

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Wed, 18 Aug 2010 16:21:45 -0400

Howard County Homes on Acreage. If you are looking for a home in Howard County, and would like the privacy and serenity of owning several acres, you first have to determine what a ‘acreage' means to you, what's available in the area, how much you should expect to pay, and what you can get for the value.

In Howard County, to me, a large lot is one that is at least 5 acres. There is not an overabundance of these properties available, and where you would like to be in the County plays a large role in what you will find and how much you will pay.

In Western Howard County, the homes on acreage will be more expensive, and more remote, with further driving distances to commuter routes, shopping and conveniences. Fulton and Highland offer a few properties that have large, private lots, as well as a shorter commute to both Washington DC and Baltimore than Western Howard County communities. Fulton and Highland have the unique appeal of being close to Maple Lawn, a planned development that provides true one stop convenience with retail, business, medical and conveniences all in one nearby location.

When looking at Howard County homes on acreage, if privacy is of importance to you, consider reviewing the neighboring properties to see if any new construction, be it commercial, residential or agricultural, could affect your peace of mind.

Other appealing amenities of Howard County homes on acreage is that some of the homes back to parks, reservoirs and forest preservation areas. You may even have walking trails and fishing right in your own back yard. Further, many of the homes have been custom built and offer unique architecture that you wouldn't find in a tract home. As you search, note that some properties may allow you to keep horses or other animals.

Howard County Homes on Acreage

Howard County Community Report

Howard County Public Schools

Mortgage Rates are Low - What on Earth Does that Mean if You Would Like to Buy Instead of Rent

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Wed, 18 Aug 2010 15:03:44 -0400

Mortgage Rates are Low - What on Earth Does that Mean if You Would Like to Buy Instead of Rent. You see it on the news, you see it in the paper, you see it on the internet...mortgage rates are low. In fact, they are lower than they have been in recent years. Today's average mortgage rate for a conventional fixed 30 year mortgage is just 4.4%.

But what does this mean? I think most people who would like to buy instead of rent are confused about how to translate this rate into actual dollars and cents saved over the long term. Below, I've tried to give the simplest guide I can to explain what these low mortgage rates mean, and how if you are renting, you can leverage these low rates to save money both now and over the long term.

For this example, I will use one of my Single Family Home listings in Parkville: 8109 Conduit Road. Currently, this 3 Bedroom 1 Bath Renovated Home is listed for $210,000. Veterans have zero down financing options available, but most buyers would need to select an FHA loan, which requires a 3.5% Buyer contribution to get into the home.

To get down payment funds, you could access your savings, potentially borrow from your 401(K) as long as you have discussed it with your lender, or receive gifts from family members to get to the 3.5%.

A common misconception is that you have to have your 3.5% down payment plus closing costs. With an FHA loan, you have to have 3.5% of the negotiated sales price in the deal, and the Seller can contribute up to 6% toward your closing costs, which should cover the rest needed. For our example, the estimated funds to close amount is $13,929. Of this amount, you would have to have $7,350 of your own funds to qualify for an FHA mortgage for this home, and the Seller could contribute to the rest.

As far as the payment goes, your payment on an FHA 30 year fixed loan at a final negotiated sales price of $210,000 would be $1,380. This includes your mortgage principle, interest, tax and insurance.

Looking at what's currently available for rent in the area, 3 and 4 bedroom townhomes are running at approximately $1300 - $1500. If you would like to buy instead of rent, for the same monthly rent payment of a Parkville townhome, you could have the advantage of owning your own single family home, along with all of the tax advantages and equity benefits that come along with homeownership.

If you would like to buy instead of rent, and have any questions about the financial benefits of owning a home that I've discussed here, or about anything that I've discussed here, please don't hesitate to contact me. I love working with first time buyers and guiding them through the process.

*These figures are approximate, and based on today's mortgage rates only. Your lender can give you exact figures once you have completed and submitted a loan application.

Market Report Monday - Howard County Real Estate Market Update, July 2010

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Mon, 16 Aug 2010 11:31:50 -0400

Market Report Monday - Howard County Real Estate Market Update, July 2010. Real Estate Market Statistics for Howard County, July 2010. Includes median price, closed listings, pending listings and days on market for Howard County, MD.

Howard County Real Estate Market Update, July 2010

Open House Report for August 14 - 15: Catonsville, Ellicott City, Elkridge, and Columbia

Tim McIntyre (Ellicott City Realtor, Catonsville Realtor) — Fri, 13 Aug 2010 13:57:19 -0400

Open House Report for August 14-15: Catonsville, Ellicott City, Elkridge, and Columbia. Below are this weekend's Open Houses:

Elkridge Open Houses

Ellicott City Open Houses

Columbia Open Houses

Catonsville Open Houses

If you have any questions, please feel free to contact me.

Open House information has been provided by the listing agent, and is not guaranteed to be correct.