Brien Berard Maryland Real Estate Agents Laurel real estate

The above chart is a comparison of home sales this September with September of 2008 in Prince Georges County Maryland. Laurel Md real estate is located in Prince Georges County.

As you can see, the trend of falling prices in Prince Georges home values continue. Both the Average Sold Price of $225,976 and the Median Sold Price of $212,925, have fallen about 20 percent from last September. This has been the trend for most of 2009.

Also consistent with the trend of 2009 is the increase in the number of homes sold in Prince Georges County Maryland. Home sales in Prince Georges this September increased over 20 percent from last September. One of the big reasons for the increase in sales has been the impending deadline for the $8000 tax credit for first time home buyers.

Homes are selling faster as well. The Average Days on Market dropped from 141 days to 133 days.

For more information on Maryland home sales, visit Maryland real estate.

Make the 203K rehab loan available to investors.

A 203K or rehab loan is used by buyers of vacant homes to repair damage. One of the best aspects of a rehab loan, is it allows the buyer to buy the property "as-is", with money included in the loan to make repairs on a property.

This loan is ideal in this market, because of all the foreclosure properties. Most foreclosures are in need of repair and are sold "as-is". Many first-time home buyers may qualify for a loan on a foreclosure, but do not have the money to do any repairs. Most banks will not lend money to a home needing extensive repairs unless the work being done is some how written into the contract.

This is an issue many potential buyers of Laurel real estate are having to deal with.

However, the worst part for first-time home buyers is dealing with a bank as a seller. Where as, a buyer is just one or two people, a bank is a very different thing. A bank is a large bureaucratic institution that does things in slow methodical way. Worse even still, many banks are overwhelmed with the amount of foreclosures they have to deal with.

If an investor is the seller in the transaction, much of the hassle of dealing with a bank is eliminated. The deal is transacted in a much quicker and smoother way. When buyers are dealing with an investor, they are only dealing with one other person.

Right now, inverstors are being shut out of a portion of the housing market. Many vacant foreclosed homes could be renovated and sold if investors were allowed to use 203K loans. Allowing investors to purchase rehab loans would put more money into the economy and would be much more pleasant experience for buyers.

For more information on Maryland home sales, visit Maryland real estate.

I just read an email from Remax. The information was about extending the tax credit. As many of you who are considering buying Laurel real estate know, the tax credit ends at the end of November.

There is currently a big rush of buyers trying to purchase a home before the end of November. Most buyers who call me are well aware of the dead lines.

In addition, there are several other programs in Maryland that can be used with the $8000 tax credit. The Down Payment On Your Dreamprogram in Prince Georges County Maryland. In Anne Arundel County, there is the Mortgage Assistance Program. Both of these programs offer buyers up to $20,000 in additional funds to buy a home.

Even better, according to the email, each tax credit purchase pumps about $60,000 into the local econmy.

If you want to get involved contact Senator Ben Cardin's office.

Like many children in West Laurel, my daughter started the seventh grade at Martin Luther King Middle School in Beltsville Maryland.

Last night was back to school night for the parents. I was amazed at how many cars were in the parking lot and in the over flow on the grass fields. The class rooms were full of parents and a few of the students as well.

All these parents at Back To School night made me feel good about he community. Its nice to see so many parents wanting to take part in their children's education.

As we switched from class to class, the hall ways were full of people. This reminded me of when I was in school back in the 1970s. The halls were decorated with banners and pennants from various colleges across the country.

All the teachers I met last night at Martin Luther King Middle School in Beltsville seemed excited about the school year. All of them encouraged parents to visit "unannounced" to see how the children were doing in school.

My daughter did not seem to like the idea of me visiting unannounced and watching her in the class room.

My daughter is studying Algebra in the seventh grade. I didn't take Algebra till the ninth grade.

After visiting the school last night, I feel more confident that my daughter is getting good education at King Middle School in Beltsville Maryland.

For more information about Beltsville Maryland and if you are considering buying a Maryland home in the area visit Maryland home sales

As I have mentioned before in this Blog, there are many great down payment assistance (DPA) programs available to buyers.

Programs like the Prince Georges County Neighborhood Stabilization Program (NSP). Many first time home buyers are eligible for the NSP's Down Payment On Your Dream loan. In Anne Arundel County you have the Mortgage Assistance Program (MAP). In Montgomery County Maryland you have the HOC down payment assistance program.

Buyers state wide in Maryland have access to the DSLP program.

All of the these down payment assistance programs are available in Maryland. However, not every lender has access to them.

Many, if not all of these programs are available only to buyers that use a direct lender. In most cases, these programs are not available to Mortgage Brokers.

Ask your lender if they are a director indirect lender. If they are a direct lender, have them put that in writing for you. Direct lenders usually have access to Maryland state and Maryland county DPA programs. Mortgage Brokers are indirect lenders and in most cases, do not have access to State and County DPA programs.

Make sure you work with a real estate agent who is aware of these facts and can direct you to lenders who have programs that may save you thousands of dollars.

For more information about Maryland home sales, visit Maryland real estate.