posted Mar 1, 2011 4:00 PM by Bill Hyland
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updated Mar 1, 2011 8:17 PM
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Maryland Hall for the Creative Arts in Annapolis is in the process of expansion and renovation. Part of the plan includes the addition of 19 new townhomes.
From the Annapolis Capital: The townhomes will be in a six-unit building and a seven-unit building on Carraway, where old row houses used to be, and two three-unit buildings facing nearby Carrollton Avenue. The townhomes, built by Carraway Cos. of Annapolis, will feature three or four bedrooms and be priced around $600,000. |
posted Feb 15, 2011 5:23 AM by Bill Hyland
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updated Feb 15, 2011 5:29 AM
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From the Annapolis Capital:
"County home sales rose 29.6 percent in January over the same month a year earlier, rising from 233 in 2010 to 302 last month, according to numbers released this week by the Metropolitan Regional Information Systems listing service.
In the Annapolis area, new home sales were up 15 percent, but the number of new contracts increased by 70 percent from the previous year. While the median price dropped as much as 70 percent in some areas, other neighborhoods saw an increase 27.1 percent." |
posted Dec 9, 2010 11:00 AM by Bill Hyland
The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended today from 4.46 percent, the fourth week of gains, Freddie Mac said in a statement. The average 15- year rate climbed to 3.96 percent from 3.81 percent, according to the McLean, Virginia-based mortgage-finance company.
Source: Bloomberg News |
posted Nov 19, 2010 7:35 AM by Bill Hyland
The rules, effective on Dec. 13, [2010] will allow buyers to use gifts and grants from nonprofit groups for their minimum 5 percent down payment, which is the threshold set by Fannie Mae, the government-owned company that sets lending standards and buys mortgages from lenders.
Now, the not-so-good news.
Fannie Mae is getting tougher on debt-to-income ratios, or the amount of a borrower’s gross monthly income that goes toward paying off all debts. The maximum ratio for those seeking a conventional mortgage will drop to 45 percent from 55 percent under the new guidelines.
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posted Nov 15, 2010 10:00 AM by Bill Hyland
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updated Nov 15, 2010 10:07 AM
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From the NYTimes:
When properly done, preapproval can speed up the purchase process by providing a rigorous assessment of the maximum amount a buyer can afford to borrow, based on a formal credit check and verification of income and assets. But prevetting has become more difficult and confusing these days, for borrowers as well as lenders, as a result of lending rules that took effect in January.
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posted Jul 25, 2010 7:05 PM by Bill Hyland
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updated Nov 15, 2010 10:07 AM
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From the New York Times: "Short sales often take months because many mortgages are owned by multiple investors, each of whom must agree to the process. Banks, too, are overwhelmed by foreclosure filings and applications for loan modifications. In addition, banks are not about to broadcast how much of a loss they’re willing to take in a short sale." |
posted Jun 24, 2010 3:45 PM by Bill Hyland
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updated Nov 15, 2010 10:07 AM
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From the Washington Post: The average rate on 30-year fixed mortgages (with an average of 0.7 points) dropped to 4.69 percent in the week ending Thursday -- the lowest level since Freddie started tracking these figures in 1971. This week's rate is down from 4.75 percent the previous week and 5.42 percent a year ago. |
posted Jan 25, 2010 8:28 AM by Bill Hyland
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updated Mar 19, 2010 1:05 PM
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Current information on the Home Buyer Tax Credit, now set to expire April 20, 2010, from the IRS: Tax Credit Info |
posted Dec 27, 2009 9:23 AM by Bill Hyland
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updated Nov 15, 2010 2:59 PM by Bill Hyland
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From the Annapolis Capital, Appeals Up as New Assessments Prepared:Anne Arundel County has seen an increase in property tax appeals even as the state this week sends out its annual round of assessments for one-third of Maryland property owners... Typically there about 1,000 of those appeals annually, a number likely to be exceeded after the rush of petitions that will come in this week, the last week of the year, he said. In order for any homeowner to appeal to be assessed for the tax year that begins July 1, an application must meet a Jan. 1 deadline. |
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