About Prince Georges County, MD

Ryan Homes has recently returned to Oak Creek Club in Upper Marlboro, MD. They are offering single family homes beginning in the $340,000s. Ryan is offering neo-traditional floor plans which feature a smaller lot size and a rear entry garage as well as traditional single family homes. There are several lots available including several that back to the golf course and others that face the entry lake and fountain.

The complete list of builders in Oak Creek:

Townhomes

• NV Homes
• Craftstar Homes

Single Family Homes

• Ryan Homes
• K&P Builders
• NV Homes
• Craftmark Builders

Oak Creek Club is Prince George's County premier country club community. The community features 24 hour guard gated entrance as well as a private 18 hole golf course and the fully restored Bowieville Mansion.

Planned amenities for Oak Creek Club include: a shuttle to the Morgan Metro station, a clubhouse, a swim & tennis center, and walking trails.

If you are interested in learning more about Oak Creek Club in Upper Marlboro or if you would like a personal tour give me a call.

Should I Float? Should I Lock? - Daily Update for Thursday, November 19, 2009

Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.

As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

jobless Claims came in on target while the Philadelphia Fed Index came in sharply higher than otherwise expected. Though this would normally put the kibosh on bonds - the stock market is taking a major slide today which is helping bonds to remain at least par from yesterday.

Look for rates this morning to remain steady from where they closed Wednesday when rate sheets are released by AmerisaveMortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond is currently keeping above the all important 200 day moving average. The bond is coming down from overbought status.

I am recommending to

LOCK your best mortgage rate.

To learn why one should Float or Lock -

Check out Should I float? Should I lock? &;;; Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Are Realtors obligated to disclose mold problems in a foreclosure? The short answer is yes, but unfortunately things aren't always done as they "should" be.

Why Should It Be Disclosed?

A mold problem in a home falls into the category of "Material Defect".  In the state of Maryland, any Material Defects that are known by the seller or listing agent must be disclosed, regardless of the Annotated Code of Maryland, Real Property Article, Section 10-702.  The catch is that the seller must have knowledge of the defect.

Banks Don't Disclose

Banks typically avoid making any sort of disclosure, and rather sign a disclaimer stating they have know knowledge of the property and it's potential defects.  Since the bank has probably never actually visited the property, how can they know there is a mold issue?

Banks Should Disclose

It stands to reason, however, that someone involved in selling the property (such as the Realtor who lists the property) has seen and is aware of a possible mold problem.  If there is a latent defect such as this, and it is known, then it is the responsibility of the listing agent and the owner (The Bank) to disclose such problems.  What should happen, and what does happen, however, can be two entirely different things.

Are they Trying to Hide It?

With the massive mold growths I've seen in so many foreclosures, it's impossible to hide the fact in many cases.  the concern that I, as a Realtor, have is that there is a potential health risk involved in showing these properties.  It's a weekly occurence now:  I go out, show a dozen or so moldy foreclosures, and go home with a splitting headache and nausea.  At it's core, this is a health risk, for both me and my clients.

The concern many banks have is that mold stigmatizes a property (DUH!) and reduces it's value.  Their risk of exposure to a lawsuit is minimal (You gotta prove they knew the home had mold), and so the less they say, the better, at least in their mind.  In the mean time, myself and my clients get to deal with the headaches, nausea, dizziness, and shortness of breath that goes along with heavy mold exposure.  Lucky Us.

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 - office
301-653-8116 - cell

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A Federal Judge yesterday sentenced Joy Jackson (you know, the stripper turned foreclosure "rescue" scam artist?) to 12 years in prison for scamming more than 117 people into signing over the deeds to their homes.

In addition to the prison term, she's ordered to pay more than $16 million in restitution (good luck recovering that, she spent it on her mega bucks wedding!), and the judge described her as a "vulture".

Her accomplice, Jennifer McCall also had a hearing later in the day where she fired all of her lawyers, and when the prosecution recommended keeping her jailed pending sentencing, a relative of hers jumped into the well of the courtroom and punched the prosecutor in the face! Quite the well mannered group I'd say!

It's a relief to see these people going to jail, but it's a cold comfort for the people that believed their lies and lost their homes. The scam is the perfect example of the greed that the housing bubble created. I hope this serves as a warning to anyone else out there thinking about doing something like this, and more importantly, I hope this brings to the forefront the risk involved when someone makes you an offer that sounds too good to be true.

Link: All posts regarding the Metro Money Store and Joy Jackson

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 - office
301-653-8116 - cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land