Me: Why do you want to sell?
Seller: Because too many cars drive by.
Me: Why did you buy a house along the freeway?
Seller: It was cheap.
Many homes buyers study the market, ask questions, hire pros, yet even so, some are headed into foreclosure before the ink is dry on the deed.
Here are10 fool-proof ways you can, without meaning to, set yourself up to fail at home ownership:
Armed with trade secrets, then venture forth into the world of real estate, making sure you regularly point out how the "pros do it" to your real estate agent, who, undoubtedly, will be forever grateful to receive such sage advice.
Make dozens of lowball offers that get rejected until you find a seller who will carry all the financing at 18% interest with a 3-year balloon payment.
Above all, after your agent has shown you homes for several weeks, go directly to the listing agent of the home you decide to buy and ask that agent to write a purchase offer for you.
Make every effort to clean out all sources of available cash, dumping every dime into the purchase of your new home. In fact, why not cash in your retirement accounts, too, because retirement is a long ways off.
Don’t bother looking up information on the Internet, reading real estate books or asking for a second opinion as all of that is a waste of time. Whatever you do, do not, under any circumstances, ask a lawyer or an accountant for advice. If you receive professional advice, disregard it and do what you think is best.
You know there is no reason to be concerned with silly terms such as indexes, margins, caps or negative amortization. Because you have a low interest rate, a low monthly payment, and you feel confident that whatever happens later, you can handle.
To you, living next to a grocery store means you can pick up a carton of milk without walking very far. Even though a few boarded-up homes on the block sport rotting mattresses in the front yards, it doesn't affect your market value.
You can instantly recognize a good buy when you find it, especially if it’s priced thousands less than homes in neighborhoods you’ve considered but cannot afford.
The more bells and whistles it has, the more you will love it. As far as you’re concerned, you can’t be stretched too thin if every single design element of the home is perfect for your tastes, and you’re willing to reach higher than common sense dictates to get it.
You would prefer to save the money you would throw away on a home inspection and instead buy a new barbecue grill. It doesn't matter that the interior walls are crumbling because a fresh coat of paint works wonders.
Your excellent credit report affords you the opportunity to buy whatever you desire and, besides, there are no payments due for a year. It’s like getting a new car and home furnishings for free. After all, more debt shouldn't affect the funding of a mortgage.
While you’re at it, maybe you should remodel the kitchen, too, and put in granite counters, perhaps new appliances. You can afford it. You will never lose your job or need money for a medical emergency; times are good right now!
You may now ask, "Nick, how do I know about these mistakes?" The simple answer is that I have witnessed clients make these mistakes during my real estate career in Baltimore.
Nick Gioia | Baltimore Real Estate | www.ngrealtygroup.com
Rodgers Forge Homes and Neighborhood Information
Rodgers Forge Real Estate, ZIP Code 21212, is located in the unincorporated Towson area of Baltimore County, Maryland, just north of the Baltimore City/County line. It is mostly a residential area, with rowhouses, apartments, single family dwellings, and a new complex of luxury garaged townhomes. The area also has a small amount of commercial development. It is located just south of Towson University.
Rodgers Forge takes its name from the blacksmith shop of George Rodgers, built in 1800, that was once located on the southwest corner of York Road and Stevenson Lane. In 1934, developer James Keelty's company began developing Rodgers Forge Real Estate, and over the next 22 years constructed 1,777 red brick rowhouses in the neighborhood. Today, about 7,000 people live in Rodgers Forge homes.
In 2004, Rodgers Forge gained international attention as the home of Olympic swimming champion Michael Phelps.
Interested in finding Rodgers Forge real estate? Search for Homes Now! Receive daily Email Updates of new homes as they hit the market.
Our website is full of valuable information including buyer and seller tips, properties for sale, foreclosure resources and even local market trends to keep you up to date with what is happening in Rodgers Forge Real Estate.
If you want to know about the local community or Get Your Homes Value Online we have information on that as well. Check out our recommended links page for local weather, movie listings, maps and directions and local school information with children's links.
Question: There are a lot of bank owned homes and short sales in Baltimore – is it legal to place 2 separate offers on 2 different houses?
The short answer is yes, it’s perfectly legal (at least in Maryland) to place multiple offers on multiple properties. Your mileage could vary in other states.
But, I’d be remiss if I didn’t discuss the potential ramifications of having multiple offers out.
In an absolute worse case scenario, you could have multiple offers accepted, you dilly-dally around and find yourself with no way out of a contract – meaning you are now under contract to purchase more than one home.
Fortunately, there are ways to cancel a purchase contract without running afoul of the law or risking loss of your earnest money deposit. Primarily this can be done through the inspection period that is generally 10 days from contract acceptance.
I emphasize generally because no two contracts are the same. The boilerplate language in the standard Maryland Contract for Sale provides for a 10 day inspection period. Section 6j of the purchase contract and the Buyer’s Inspection Notice and Seller’s Response, which is delivered from the buyer to the seller, contain a provision for the buyer to immediately cancel the contract if they disapprove of items uncovered during the inspection period.
Technically, this is not the “free pass” out of the contract that many say it is. In reality though, as long as you have an item to disapprove, any item, then the contract can be cancelled.
If you are looking at bank owned (REO) properties, you should be very cognizant of the lender’s addendums. They trump the contract and may contain language that significantly shortens your inspection period. Some will even attempt to eliminate the inspection period all together, which should be cause to run, not just walk, away.
So, should you submit multiple offers on multiple properties?
Every situation is different, and there are no blanket answers for a question like this. In the Baltimore real estate market, if you are interested in purchasing a short sale, you almost have to submit multiple offers. It doesn’t seem prudent to submit one short sale offer, and wait 3, 6, 15 weeks or more to get an answer – an answer that may just be “no thanks” so you wind up starting all over again.
If you are looking at purchasing an REO property, particularly one priced at less than $150K-ish, then be advised that these properties often get multiple offers and while some banks respond swiftly, others can take days. If you only submit one offer and you’re outbid, then many other similar homes may have come and gone while you had your one offer under review.
In a traditional sale (not a short sale or bank owned home) I generally give the seller 24 hours to respond to an offer. In this case, it doesn’t make much sense to put in simultaneous offers on multiple homes.
If you chose to go down the multiple offer road, what you want to make sure of is that you’re working with a competent agent that will help you keep track of offers you have out, accepted offers, and all the timelines. Goof this up, and you may find yourself in a situation where you can’t get out of a contract and are well on your way to losing your earnest deposit on one or more of your accepted contracts.
For more information on this subject please feel free to contact us my email or phone to discuss how this may effect your specific situation.
Howard County Homes and Local Information.
Howard County was established in 1851 and is located 20 miles north of Washington DC. It offers a successful melding of old and new, urban and rural, where the rolling green hills of the Piedmont meet the rocky fall line of the glaciers. From the small town flavor of historic mill towns to the thriving model city of Columbia, Howard County makes everyone feel at home.
Conveniently located in the heart of central Maryland between Baltimore and Washington, Howard County real estate offers the charm of a historic past mixed with the excitement of a cosmopolitan community.
Many consider Howard County to be one of the most affluent and educated communities in the nation. The quality of life is highly prized and fiercely protected by active citizens who take pride in their neighborhoods.
With schools that are top-notch, a local government that is responsive, and a thriving arts community, it’s no wonder families as well as businesses are choosing to settle here. View a PDF map of Howard County Zip Codes.
Interested in Howard County Real Estate? Search for Homes Now! Receive daily Email Updates of new homes as they hit the market.
Our website is full of valuable information including buyer and seller tips, properties for sale, foreclosure resources and even local market trends to keep you up to date with what is happening in Howard County Real Estate.
If you want to know about the local community or Get Your Homes Value Online we have information on that as well. Check out our recommended links page for local weather, movie listings, maps and directions and local school information with children's links.
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Catonsville Homes and Local Information
Catonsville, ZIP Code 21228, is widely considered a delightful Baltimore suburb. The western part of Catonsville is bordered by the Patapsco River and Patapsco Valley State Park. Historic Victorian homes make up much of the Catonsville real estate in the center of town, which has earned the nickname “Music City of Maryland” for the number of unique music stores in the area. The community’s history continues at the Benjamin Banneker Historical Park and Museum as well as the Towsend House and Pullen Museum. Please visit CatonsvilleWeb to findout more about what Catonsville has to offer.
Take your choice of public or private schools here – you’ll find excellence either way (as just one example, Catonsville Senior High is routinely listed among Newsweek’s 1000 Best Schools). For college students or professionals seeking continuing education credits, the Community College of Baltimore County and University of Maryland Baltimore County offer award-winning programs from A.A. to Ph.D. For more information on community attractions in Catonsville please visit the Catonsville Chamber of Commerce.
Buying Catonsville real estate is a good move because it is close to both Baltimore and Washington. There are several strong neighborhood associations similar to Academy Heights and Dunmore. Catonsville Real Estate provides numerous opportunities for the home seller, real estate investor, and home buyer.
Interested in living in Catonsville? Search for Homes Now! Receive daily Email Updates of new homes as they hit the market.
Our website is full of valuable information including buyer and seller tips, properties for sale, foreclosure resources and even local market trends to keep you up to date with what is happening in Catonsville Real Estate.
If you want to know about the local community or Get Your Homes Value Online we have information on that as well. Check out our recommended links page for local weather, movie listings, maps and directions and local school information with children's links.
Catonsville Homes for Sale by Popular Neighborhood
Forest Spring Park Foxhall Farm Frederick Heights Garywood Greenmar Hidden Bluff Highfields Holly Manor Inglewood Mount Ridge
Oak Forest Oak Springs Paradise Village Parkside Woods Patapsco Falls Patapsco Woods Rockwell Rollingwood Shady Nook Summit Park Tanglewood Village Oaks Westchester Oaks Westview Park Woodbridge Valley
Baltimore County, Anneslie, Arbutus, Baldwin, Catonsville,Cockeysville ,Dundalk ,Gwynn Oak, Halethorpe ,Hunt Valley, Joppa, Kingsville, Lutherville, Loch Raven, Nottingham, Mays Chapel, Mays Chapel Village, Middle River, Monkton, Mt Washington, Owings Mills, Parkton, Parkville, Perry Hall, Pikesville, Randallstown, Reisterstown, Rodgers Forge, Rosedale, Ruxton, Stevenson, Stoneleigh, Sparks Glenco, Timonium, Towson, Windsor Mill, White Hall, White Marsh, Woodlawn, Woodstock
Nick specializes in residential real estate in Anne Arundel, Baltimore, Carroll, Howard, Harford, and Montgomery County - Maryland. Contact Nick at: 443-765-5422 (or) Nick@NGRealtyGroup.com
Anne Arundel | Baltimore | Carroll | Harford | Howard
Nick Gioia is a seasoned agent with over 9 years of Residential Real Estate experience helping buyers and sellers achieve their goals. Nick is s distinguished MBA graduate of the University of Baltimore and active member of the Greater Baltimore Board of Realtors. As the leader of the NG Realty Group, he is known for displaying a high standard of integrity and professionalism as well as a detailed knowledge of the real rstate industry. Contact Nick at: Nick@NGRealtyGroup.com Top 10 Reasons
We are the Real Estate Group for You!
If you have any questions about how we can help you give us a call or visit our wedsite at: www.NGRealtyGroup.com
Since 1999 we have been helping buyers and sellers throughout Maryland. We specialize in the sale of properties in Anne Arundel County, Baltimore City and County, Carroll County, Howard County, Harford County and Montgomery County. In other words, we are your Central Maryland Real Estate Experts.
We understand that buying a home is much more than just finding a back yard that can hold a memorial day party and a master bedroom that fits your king size bed. In addition it's first and foremost a home. Something you will grow to love , cherish and treat with respect.
From the initial search process where we will send you pictures of everything and anything you desire to your five year settlement anniversary we will treat you like family in your home buying and owning process. It is our goal to be your realtor for life.
Our mortgage and Title companies offer one stop shopping to make your experience as painless as possible. Please click on the various buttons offered on our site and begin to see , without obligation, what working with the NG Realty Group is like. I know you'll be impressed.
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Nick, it was a pleasure to do business with a true professional. We want to thank you for all your guidance and know that without your help we would not have been able to sell our house.
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I want you to know how much we appreciated your efforts helping us sell our property. Your advice about the many details of selling a house were invaluable. We greatly appreciate your professionalism and friendship! Thanks for making the experience of both Selling and Buying a home so enjoyable and stress free.
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