May 2010
1 post
“The Federal Tax Credit may be over… but, the savings for Teacher’s...”
November 2009
1 post
Senate Approves Tax Credit Extension, Expansion
Daily Real Estate News | November 5, 2009 | Senate Approves Tax Credit Extension, Expansion The Senate yesterday passed legislation to extend the $8,000 home buyer tax credit to May 1, 2010, for first-time buyers and add a $6,500 tax credit for repeat buyers if they’ve lived in their home for five of the past eight years. Home prices are capped at $800,000. The legislation was included...
October 2009
1 post
Our Educational Series Workshops continues TONIGHT ( October 13th) from 6pm - 8pm as we will show you how to conduct a highly effective Buyer Consultation meeting.
It’s so easy to just meet a potential buyer at a property or allow them to control the buying process. In this workshop we will show you how to:
Set up the initial meeting
Use a well flowing checklist to ensure you cover all...
August 2009
1 post
The John Burgess Real Estate Group Website! →
April 2009
1 post
Educational Series
This Thursday (April 23rd) we will be joined by settlement attorney, Craig A. LeVine, to cover a few popular contingencies and a not-so-popular (but very important to know) condition. Craig will cover, in detail, the:
Financing Contingency
Appraisal Contingency
Home Inspection Contingency
MD non-resident Seller Withholding
This may seem elementary to some of you but in these challenging...
March 2009
1 post
Educational Series
How To Correctly Price Homes in This Market
We have done this class before and it has been asked for many times since. This Thursday (March 12) from 9:30am - 11:30am we will cover this topic in tremendous detail to help you show your sellers what the True Market Value of their really is.
When you leave here you will have an undstanding how to:
Effectively use the comprable sales
Use...
February 2009
7 posts
Benefiting From the Bust
Wave of Foreclosures Can Be an Opportunity for First-Timers, Investors
By Alejandro Lazo
Washington Post Staff Writer
Saturday, February 21, 2009; Page F01
Keith and Cynthia Antaya spent the years of the housing boom renting, unable to fathom how they could afford their own digs during the market’s dizzying escalation.
As Fairfax County Public Schools employees, he a special...
America's Best and Worst Housing Markets
Forbes: Matt Woolsey (02/24/2005)
As the housing downturn wears on, some cities are stabilizing and some aren’t.
In Las Vegas, the weakest market in the country, prices continue to drop.
“I don’t know what those guys were drinking when they thought all this building made sense. If it does work out soon, then there’s some force out there in the universe that I’m not...
National and DC Homebuyer Tax Credit Comparison
National Homebuyer Credit
Purchased principal residence 1/1/09-11/30/09
Did not own a principal residence during 3-year period ending on date of purchase
Cannot claim if modified AGI- adjusted gross income is $95,000 or greater ($170,000 if MFJ-married filing jointly). Phase out begins at $75,000 ($150,000 MFJ-married filing jointly)
Maximum Credit $8,000 ($4,000 if MFS-married filing...
What's in the Foreclosure Prevention Plan
Daily Real Estate News | February 19, 2009
The Obama administration yesterday released its long-awaited plan to stem foreclosures. It’s organized into three categories:
1) Help for homeoners making their payments but at risk of default and foreclosure. Homeowners with a Fannie Mae or Freddie Mac loan would be eligible to refinance as long as their mortgage doesn’t exceed 105...
Stimulus Advances With Tax Credit Changes
Daily Real Estate News | February 12, 2009
The $790 billion stimulus package hammered out by House and Senate conferees late yesterday afternoon drops the repayment feature on the home buyer tax credit.
The NATIONAL ASSOCIATION OF REALTORS ® has sought removal of the repayment requirement because it discourages buyers from taking advantage of the tax credit.
The legislation also...
NAR: Senate Stimlulus, Treasury Plan Good Start
Daily Real Estate News | February 11, 2009
The NATIONAL ASSOCIATION OF REALTORS® praised the Senate for passing its stimulus bill that expands the homebuyer tax credit, an important housing component that will help shrink housing inventories, bring stability to home values, and move the country closer to an economic recovery.
The bill now heads to conference committee to reconcile...
$15,000 for homebuyers
Under the Senate’s stimulus bill, homebuyers could receive a $15,000 tax credit if they purchase within a year.
By Les Christie, CNNMoney.com staff writer
February 10, 2009: 7:10 AM ET
NEW YORK (CNNMoney.com) — If you’re thinking of buying a home, there could be a big bonus for you in the economic stimulus bill that’s now before Congress.
The Senate’s version...
January 2009
5 posts
4 Tips to Getting a Loan
These days one of the biggest impediments to closing a real estate sale can be the buyer’s ability to get a mortgage.
Here are some tips for anyone who hopes to land a loan:
Turn to the government. The biggest source of loans these days is the Federal Housing Administration (FHA) and the Veterans Administration (VA). These programs accept borrowers with lower credit scores and allow them to...
Tax Credit Changes Could Unleash Home Sales
Daily Real Estate News | January 15, 2009
If all home buyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales, enough to meaningfully draw down excess housing inventory, the NATIONAL ASSOCIATION OF REALTORS® says.
An evaluation of options for a home buyer tax credit by NAR shows wide ranging implications and benefits. A full...
Teacher A + : A network of real estate... →
Mortgage Rates Continue Falling to Record Lows
Daily Real Estate News | January 9, 2009
For the fourth consecutive week, mortgage rates have fallen to all-time lows. The 30-year mortgage rates averaged 5.01 percent this week, which is a drop from last week’s 5.1 percent. Last year at this time, rates averaged 5.87 percent.
“Interest rates for 30-year fixed-rate mortgages fell for the 10th week … due in part to the...
December 2008
9 posts
New Year, New FHA Mortgage Limits
HUD Secretary Steve Preston has announced new limits on the mortgage amount insurable by the Federal Housing Administration beginning January 1, 2009. Under the 2008 Housing & Economic Recovery Act, limits are set at 115 percent of a market’s median house price. They can’t be lower than 65 percent or higher than 150 percent of the national conforming limit of $417,000. Preston says the limits...
NAR Applauds Fed for Timely Action on Rates
The NATIONAL ASSOCIATION OF REALTORS® applauds the actions of the Federal Reserve Board in lowering interest rates for home buyers and homeowners who need to refinance. This will significantly impact housing sales, home valuations, and the nation’s overall economy.
The Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage...
NPR Discussion Board, Audio, & Article on Rate Cut →
Washington Post Rate Cut Article →
FED Rate Cut "as low as it can go." →
Study Shows Housing Values Have Climbed
Daily Real Estate News | December 9, 2008
News reports have been packed with stories about declining home values, but a recent government report shows that the situation is not nearly so dire as some reports make it sound.
Despite big loses in some areas of the country, the majority of markets continue to show growth in home value over the last five years.
According to the third-quarter...
New Year’s Resolution:
Save to Purchase a New Home.
There has never been a better time to buy. Interest Rates are at historic lows and current housing prices offer incredible values to Purchaser’s. This is your chance to achieve the goal of homeownership, refinance your existing home at better terms, or live in areas closer to where you teach.
We recognize that teachers are building the...
“Best Overall Place for Women to Live: BETHESDA, MD”
– SELF Magazine December 2008
November 2008
7 posts
Buying into the USA
International REALTOR®
International Real Estate Report
Wednesday, November 19, 2008
The combination of tighter immigration standards and an excess of real estate inventory provides a win-win opportunity for the United States and for individuals seeking to immigrate here. US-Immigration-Explained.com reports a recent increase in L-1 and E-2 visa inquiries; two options for U.S. immigration...
10 Ways to Cut Energy Bills This Fall
Staying warm doesn’t have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money.
By Kelly Quigley | Daily Real Estate News
When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn’t have to break the bank.
The U.S. Department...
FDIC Plan Would Refinance Troubled Loans
Daily Real Estate News | November 17, 2008
The Federal Deposit Insurance Corp. proposed Friday to spend $24 billion of the $700 billion bailout funds to help 1.5 million households avert foreclosure.
The FDIC would guarantee 2.2 million modified loans, mostly loans made to borrowers with weak credit or small down payments. Borrowers would get reduced interest rates or longer loan terms to...
New Game Tests Home Maintenance IQ
Real Estate News - November 17, 2008
If you’re looking for a little home-maintenance action, try the online game Home Owners Revenge.
The game demonstrates to home owners how their homes may be at risk from leaves, birds, and other critters that invade the pipes on their rooftops.
“This new, interactive video game is designed to give tormented home owners a creative outlet while...
Sunday's Washington Post stresses the importance... →
Homeowner Denial
Realtors struggle to convince people that their home price has fallen, too.
AP Associated Press, Mon., Nov. 10, 2008
The housing market may have gone bust, but many homeowners are still living in a bubble.
Despite dismal housing headlines and reports showing falling prices nationwide, owners in some once-hot areas still believe their home is gaining value or at least holding its own. And by...
Recognizing that teachers are the foundation for the next generation, the John Burgess Real Estate Group and Realty Executives Premier are proud to offer a program to help teachers achieve the goal of homeownership, refinance an existing home at better terms, and live in areas closer to where they teach. By taking advantage of special mortage products and initiatives, teachers are afforded...
October 2008
6 posts
Why the Foreclosure Crisis is Hard to Fix
The government has thrown billions at the foreclosure crisis, but as Sheila Bair, head of the Federal Deposit Insurance Corp., told the Senate last week, “There has been some progress, but it’s not enough.” Until the sweeping foreclosure problem is resolved, mortgage system woes will persist. Here are five reasons why the foreclosure crisis has proven difficult to fix: 1. Falling home prices: More...
Affordability is Key
By Lawrence Yun, NAR Chief Economist
The U.S. economy has entered a recession and will contract for the next three quarters. The recovery, beginning in the second half of 2009, will be tepid. The unemployment rate will peak at 6.7 percent by mid next year before steadily heading down.
Despite these challenging economic times, existing home sales will be rising. Why? The answer, in a word:...
I think REALTOR.com is keeping up well with the... →
Hello Bloggers,
Our Educational Series Workshops continue this Thursday (October 9th) when we welcome back settlement attorney, Craig A. LeVine, with his 30+ years of real estate law / settlement experience. Craig will get us up to date with a 90 minute workshop covering the following topics:
The Housing Economic Recovering Act of 2008 (Stimulus Bill)
The Emergency Economic Stabilization Act of...
Show your support! Sarah is walking in the Light... →
September 2008
6 posts
Sarah Baker featured in The Washington Post →
John Burgess Featured on Channel 8 News
To discuss the current Real Estate Market. To answer questions about Short Sales, Foreclosures, the Mortgage Market, and what this all means for the consumer.
Video to be added.
Our Educational Series Workshops resume this week on Thursday, September 11th with a terrific class titled:
“How to Price Homes Correctly - The 8 Steps to Sell Your Listings in This Challenging Market”
After attending this workshop, you will know and understand:
How to effectively use the comparable sales
How to use various methods to find the true market value for your...
Offer voluntary temporary housing to hurricane... →
August 2008
12 posts
We are quickly approaching our 7th Annual Children’s Miracle Network Fundraiser Golf Outing on Friday, September 19!! Please feel free to forward the information to your friends, family, clients, co-workers, etc. We are looking for more players, sponsors and any donations that may be used as a giveaway, raffle or silent auction item. Your support is greatly appreciated!
For those of you who have...
Greenspan: Housing Stabilizing Soon
Former Federal Reserve Chair Alan Greenspan in an interview with the Wall Street Journal this week says he expects U.S. home prices to stabilize in the first half of 2009. “Stable home prices will clarify the level of equity in homes, the ultimate collateral support for much of the financial world’s mortgage-backed securities. We won’t really know the market value of the asset...