The information below provided by Realtor Magazine could save you some money on your homeowner's insurance this coming year. With the economy the way that it is, it is important to find prudent ways to save money.
Tips for Lowering Homeowner’s Insurance Costs
1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don’t want to be told at closing that the insurer has denied your coverage.
3. Maintain good credit. Insurers often use credit-based insurance scores to determine premiums.
4. Buy your home owners and auto policies from the same company and you’ll usually qualify for savings. But make sure the discount really yields the lowest price.
5. Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Avoid making claims under $1,000.
6. Ask about other discounts. For example, retirees who tend to be home more than full-time workers may qualify for a discount on theft insurance. You also may be able to obtain discounts for having smoke detectors, a burglar alarm, or dead-bolt locks.
7. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage.
8. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage.
9. Investigate a government-backed insurance plan. In some high-risk areas, federal or state government may back plans to lower rates. Ask your agent.
10. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
Are you interested in selling your single family home in vistas at Woodcliffe or Hoyles Mill Village?
I am currently working with a very well qualified home purchaser seeking to purchase a home in the Visas at Woodcliffe or Hoyles Mill Village. I have shown them everything currently available, but nothing met their needs. If you are considering selling your home in the Vistas or even Hoyles Mill Village, please let me know. I would be very interested in showing them your home. This is not a solicitation to list your home. Please call me at 301-674-5227 or email me at rebulldog@aol.com so that we can discuss the details.
Meyer Leibovitch
RE/MAX Realty Group
301-674-5227
rebullgog@aol.com
Boyds, MD Real Estate Short Sale Information Germantown Real Estate
I read an article in the Washington Post today that really is an eye opener. For anybody thinking of buying a home today this should serve as an indicator of how good things really are.
In 1981, the national average interest rate for mortgages was 18.45%. By today's standards that is unfathomable. I can't imagine sitting down with a client and a loan officer and going over the numbers. Just think of what the Truth in Lending disclosure looked like at settlement. Most online mortgage calculators don't go that high.
After running an amortizartion schedule I calculated that the total interest on a $200,000 loan at 18.45% for 30 years would have been over $911,000. Aye-yei-yei! That's unbelievable. At 4.96% (today's thirty year average interest rate) the total interest paid on the same amount with the same terms is just $184,753. That's over a $726,000 savings. The difference in monthly payments is $1,992.
It's amazing to think that my parents would have had to pay $1,992 more than I would have for the same amount of mortgage.
The truth is that with adjustments for inflation the same house that was $200,000 back then would be worth over $1,000,000, but a house that is worth $200,000 today would have been worth probably less than 20% of the value today.
Look at the specifics below:
|
Loan Amount |
$200,000 |
|
$200,000 |
|
Interest rate |
18.45% |
|
4.96% |
|
Loan Period |
30 years |
|
30 years |
|
Payment |
$3,087.41 |
|
$1068.76 |
|
Total Interest |
$911,575 |
|
$184,753 |
Maryland Real Estate Gaithersburg Real Estate Germantown Real Estate
The statistics below are from the MRIS for Montgomery County, Maryland for the month of Decmber 2008. They are in comparison to the same month last year and not a year end tally.
Once again, the stats were significantly lower than the same time last year. That should come as no surprise to any agent or home seller. the market has definitely been tough for us all.
| 2008 | 2007 | % Change | |
| Total Sold Dollar Volume: | $277,819,892 | $298,953,774 | -7.07% |
| Average Sold Price: | $431,397 | $519,017 | -16.88% |
| Median Sold Price: | $341,750 | $425,500 | -19.68% |
| Total Units Sold: | 644 | 576 | 11.81% |
| Detach/Attach Average Sold: | $ 550,554 | $ 296,276 | $ 646,022 | $ 372,398 | - 14.78 % | - 20.44 % |
| Average Days on Market: | 108 | 113 | -4.42% |
| Average List Price for Solds: | $485,521 | $563,656 | -13.86% |
| Avg Sale Price Percent of Avg List Price: | 88.85% |
92.08% |
If you are planning to sell your home it is critical that you use these statistics to your advantage. Make sure that you price your home accordingly and manage your expectations. Patience is a virtue.
Maryland Real Estate Gaithersburg Real Estate Germantown Real Estate
Montgomery County Bank Owned Listings
The following list of REO properties (Real Estate Owned by banks) was updated January 21, 2009. Each property on the list is a bank owned foreclosure listed in the MRIS. If you are interested in making offers on any of the properties below or would like to schedule a private showing, please contact Meyer Leibovitch at 301-674-5227.
I can represent you in the purchase of any of these homes. If you are considering purchasing investment property the list below is a great place to start. Banks are liquidating REO's and have priced many of these homes below market or will be willing to negotiate. You will most likely be required to be pre-qualified by each respective bank in order to ensure your ability to receive financing and or pay cash for the property. However you are under no obligation to use them to procure financing and may choose your own lender.
You will be able to conduct a thorough inspection of the property as a condition of your purchase. Many banks prefer to sell their REO's "as-is" and will not complete any repairs so if the inspection reveals repairs beyond your scope you will be able to declare the contract null and void as long as you are within the contract time frames.
In addition, you will have the right to cancel any contract for a home that is located within a homeowner's association within five calendar days of receiving HOA documents from the sellers without stating a reason, but providing written notice to declare the contract null and void.
You will be required to provide a negotiable earnest money deposit at the time of the presentation of your offer. If your offer is accepted the bank may require the earnest money check be deposited in the listing broker's escrow account, to be applied towards down payment and closing costs. Any deposits are subject to forfeiture as per contract terms.
Once again, please contact:
Meyer Leibovitch, ASP
RE/MAX Realty Group
6 Montgomery Village Avenue, Gaithersburg, MD 20879
C) 301-674-5227
O) 301-258-7757
| Address | City | Price | Type | Br | Fb | Hb | |
| 9909 DILSTON RD | Silver Spring | $187,500 | Detached | 4 | 1 | 1 | |
| 20041 DUNSTABLE CIR #311 | Germantown | $147,250 | Townhouse | 2 | 1 | 1 | |
| 2305 NEES LN | Silver Spring | $356,250 | Detached | 4 | 3 | 0 | |
| 8 TRENTO CT | Gaithersburg | $179,900 | Townhouse | 3 | 2 | 1 | |
| 8608 WELBECK WAY | Gaithersburg | $176,900 | Townhouse | 4 | 2 | 1 | |
| 19148 HIGHSTREAM DR #676 | Germantown | $215,900 | Townhouse | 3 | 2 | 1 | |
| 116 BONIFANT RD | Silver Spring | $376,700 | Detached | 3 | 2 | 1 | |
| 2 STANDARD CT #1 | Gaithersburg | $86,900 | Townhouse | 2 | 1 | 0 | |
| 20528 AMETHYST LN | Germantown | $224,900 | Townhouse | 3 | 2 | 1 | |
| 5 GRAZING CT | Montgomery Village | $195,900 | Townhouse | 3 | 3 | 0 | |
| 824 WEST SIDE DR | Gaithersburg | $134,900 | Townhouse | 3 | 2 | 1 | |
| 19039 CAPEHART DR | Montgomery Village | $189,500 | Attach/Row Hse | 3 | 2 | 1 | |
| 8513 CHURCHILL DOWNS RD | Gaithersburg | $739,900 | Detached | 5 | 4 | 1 | |
| 17 WATER ST #26 | Gaithersburg | $99,900 | Garden 1-4 Floors | 2 | 1 | 0 | |
| 5800 NICHOLSON LN #1-T05 | Rockville | $209,900 | Hi-Rise 9+ Floors | 1 | 1 | 0 | |
| 1013 PAUL DR | Rockville | $265,900 | Detached | 4 | 2 | 0 | |
| 132 DUVALL LN #213 | Gaithersburg | $84,900 | Garden 1-4 Floors | 3 | 2 | 0 | |
| 9416 VINEYARD HAVEN DR | Montgomery Village | $369,900 | Detached | 3 | 3 | 1 | |
| 17330 MACDUFF AVE | Olney | $535,000 | Detached | 5 | 3 | 1 | |
| 12603 BLACK SADDLE LN | Germantown | $209,900 | Townhouse | 3 | 1 | 1 | |
| 18005 QUEEN ELIZABETH DR | Olney | $285,000 | Townhouse | 3 | 1 | 1 | |
| 1705 LANSDOWNE WAY | Silver Spring | $325,000 | Detached | 5 | 2 | 0 | |
| 8900 CONNECTICUT AVE | Chevy Chase | $499,500 | Detached | 3 | 2 | 1 | |
| 18219 SWAN STREAM DR | Gaithersburg | $299,900 | Detached | 3 | 2 | 1 | |
| 13310 FOXHALL DR | Silver Spring | $325,000 | Detached | 5 | 2 | 1 | |
| 24008 LOG HOUSE RD | Gaithersburg | $320,000 | Detached | 4 | 2 | 1 | |
| 13738 DUNBAR TER | Germantown | $348,500 | Townhouse | 4 | 2 | 1 | |
| 13549 JAMIESON PL | Germantown | $344,900 | Detached | 4 | 2 | 1 | |
| 413 CHRISTOPHER AVE #87 | Gaithersburg | $145,300 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 8842 WELBECK WAY | Gaithersburg | $115,000 | Townhouse | 2 | 1 | 1 | |
| 3722 CASTLE TER #119-13 | Silver Spring | $164,900 | Attach/Row Hse | 3 | 1 | 2 | |
| 13019 OPEN HEARTH WAY | Germantown | $194,900 | Townhouse | 3 | 1 | 1 | |
| 18300 STREAMSIDE DR #103 | Gaithersburg | $149,000 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 11700 DOXDAM TER | Germantown | $289,900 | Detached | 2 | 2 | 0 | |
| 12004 BIRDSEYE TER | Germantown | $185,900 | Townhouse | 2 | 2 | 0 | |
| 3605 CASTLE TER #115-98 | Silver Spring | $159,900 | Townhouse | 3 | 2 | 1 | |
| 424 GIRARD ST #T-3 | Gaithersburg | $90,000 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 3364 GOLD MINE RD | Brookeville | $369,000 | Detached | 4 | 2 | 1 | |
| 18613 GROSBEAK TER | Gaithersburg | $227,900 | Townhouse | 3 | 2 | 1 | |
| 1707 ARCOLA AVE | Silver Spring | $349,900 | Detached | 3 | 2 | 1 | |
| 3932 BEL PRE RD #2 | Silver Spring | $79,900 | Garden 1-4 Floors | 1 | 1 | 0 | |
| 13156 MUSICMASTER DR #142 | Silver Spring | $209,900 | Townhouse | 3 | 2 | 0 | |
| 13516 STRAW BALE LN | Gaithersburg | $539,900 | Detached | 5 | 3 | 1 | |
| 12103 AMBER RIDGE CIR | Germantown | $299,000 | Townhouse | 4 | 3 | 1 | |
| 13816 CROSSTIE DR #897 | Germantown | $194,900 | Townhouse | 3 | 2 | 0 | |
| 14001 STEED CT | Germantown | $550,000 | Detached | 5 | 3 | 1 | |
| 18635 CROSS COUNTRY LN | Gaithersburg | $179,000 | Attach/Row Hse | 3 | 1 | 1 | |
| 9907 LAKE LANDING RD | Montgomery Village | $243,675 | Townhouse | 3 | 2 | 1 | |
| 9400 RUSHMORE CT | Gaithersburg | $194,900 | Townhouse | 3 | 2 | 1 | |
| 18016 CACTUS CT | Gaithersburg | $221,900 | Detached | 4 | 1 | 1 | |
| 11104 BLACK FOREST WAY | Gaithersburg | $135,000 | Townhouse | 3 | 1 | 1 | |
| 8816 WESTLAND DR | Gaithersburg | $325,000 | Detached | 4 | 2 | 1 | |
| 110A BUCKSFIELD RD | Gaithersburg | $389,900 | Townhouse | 3 | 2 | 1 | |
| 18726 WALKERS CHOICE RD #4 | Montgomery Village | $125,900 | Garden 1-4 Floors | 3 | 2 | 0 | |
| 5 WARRIOR BROOK CT | Germantown | $315,875 | Detached | 3 | 3 | 1 | |
| 23008 BIRCH MEAD RD | Clarksburg | $449,900 | Detached | 4 | 3 | 1 | |
| 20229 SHIPLEY TER #3-B-10 | Germantown | $136,000 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 2524 BLUERIDGE AVE | Silver Spring | $389,900 | Townhouse | 3 | 3 | 1 | |
| 108 LAKE ST | Gaithersburg | $860,000 | Detached | 4 | 4 | 1 | |
| 112 MIDDLE POINT CT | Gaithersburg | $208,000 | Attach/Row Hse | 3 | 2 | 1 | |
| 20002 SPUR HILL DR | Gaithersburg | $184,900 | Townhouse | 3 | 2 | 1 | |
| 18701D SPARKLING WATER DR #D | Germantown | $200,000 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 18746 CURRY POWDER LN | Germantown | $129,900 | Townhouse | 3 | 1 | 1 | |
| 18624 TURMERIC CT | Germantown | $167,500 | Townhouse | 3 | 1 | 1 | |
| 3703 LEVERTON ST | Silver Spring | $269,900 | Detached | 3 | 3 | 0 | |
| 706 LUDLOW ST | Takoma Park | $180,000 | Detached | 3 | 2 | 0 | |
| 7829 MUNCASTER MILL RD | Gaithersburg | $159,900 | Detached | 3 | 2 | 0 | |
| 9504 MARSTON LN | Montgomery Village | $135,000 | Townhouse | 2 | 1 | 1 | |
| 18618 GROSBEAK TER | Gaithersburg | $247,900 | Townhouse | 3 | 2 | 2 | |
| 10243 MILLSTREAM DR | Gaithersburg | $154,900 | Attach/Row Hse | 3 | 2 | 1 | |
| 19612 WHITE SADDLE DR | Germantown | $236,900 | Townhouse | 3 | 2 | 2 | |
| 7752 EPSILON DR | Derwood | $189,900 | Attach/Row Hse | 3 | 1 | 1 | |
| 18701 SPARKLING WATER DR #B | Germantown | $214,900 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 3842 BEL PRE RD #12 | Silver Spring | $112,900 | Garden 1-4 Floors | 2 | 2 | 0 | |
| 21220 DORSEY SPRING RD #10 | Germantown | $299,900 | Attach/Row Hse | 3 | 2 | 2 | |
| 405 KERWIN RD | Silver Spring | $244,900 | Detached | 3 | 2 | 0 | |
| 203 DOGWOOD DR | Gaithersburg | $239,900 | Detached | 5 | 2 | 0 | |
| 18607 WALKERS CHOICE RD #5 | Montgomery Village | $89,900 | Garden 1-4 Floors | 1 | 1 | 0 | |
| 13102 BRAHMS TER | Silver Spring | $285,900 | Townhouse | 3 | 2 | 1 | |
| 1109 ROSEMERE AVE | Silver Spring | $239,900 | Detached | 4 | 3 | 0 | |
| 19108 BARKSDALE CT | Germantown | $353,500 | Detached | 4 | 2 | 1 | |
| 2 LINDEN HALL CT | Gaithersburg | $313,900 | Detached | 3 | 2 | 1 | |
| 13258 WONDERLAND WAY #402 | Germantown | $194,900 | Townhouse | 3 | 2 | 1 | |
| 11618 VEIRS MILL RD | Silver Spring | $230,900 | Detached | 4 | 2 | 0 | |
| 5818 LINDEN SQUARE CT #59 | Rockville | $499,900 | Townhouse | 2 | 3 | 0 | |
| 4718 MERCURY DR | Rockville | $379,000 | Detached | 4 | 2 | 1 | |
| 12713 MURPHY GROVE TER | Clarksburg | $424,500 | Detached | 4 | 3 | 1 | |
| 9916 COTTRELL TER | Silver Spring | $304,900 | Detached | 5 | 2 | 0 | |
| 11425 RAMBLING RD | Gaithersburg | $339,900 | Detached | 4 | 2 | 1 | |
| 4512 BENNION RD | Silver Spring | $199,900 | Detached | 3 | 2 | 0 | |
| 2206 VICTOR CT | Silver Spring | $289,900 | Detached | 4 | 3 | 1 | |
| 11805 IDLEWOOD RD | Silver Spring | $245,000 | Detached | 3 | 1 | 0 | |
| 1021 CARSON ST | Silver Spring | $261,900 | Detached | 3 | 1 | 0 | |
| 14935 LADYMEADE CIR | Silver Spring | $227,900 | Townhouse | 3 | 2 | 1 | |
| 24108 BUSH HILL RD | Gaithersburg | $280,000 | Detached | 4 | 2 | 1 | |
| 14 FEDERAL CT #120 | Gaithersburg | $114,900 | Townhouse | 3 | 2 | 0 | |
| 20127 WELBECK TER | Gaithersburg | $165,900 | Townhouse | 3 | 2 | 1 | |
| 11313 HAWKS RIDGE TER #89 | Germantown | $164,900 | Townhouse | 3 | 2 | 0 | |
| 9605 GARWOOD ST | Silver Spring | $422,000 | Detached | 3 | 2 | 0 | |
| 8603 WATERSHED CT | Gaithersburg | $215,000 | Townhouse | 3 | 2 |
1 |
Maryland Real Estate Gaithersburg Real Estate Germantown Real Estate
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Maryland REALTOR blogs about the current real estate market in Montgomery County Maryland.
Wow, it's been about nineteen years since I began my career in real estate at 19 years old. I have literally a "lifetime" of experience since. I was just a scrawny, hungry kid that needed to support himself. By knocking on doors, cold calling and working until all hours of the night I managed to get people to give me a chance. Nearly 20 years later I am still here. Not so scrawny anymore, but wiser, more patient and really well prepared.
Over the years I learned that real estate is a people oriented, service business. It's not an assembly line where each client or property can be treated the same. I know that making sure that buyers and sellers needs are met is the key to success. I also know that a quality presentation both online and on paper helps sell a well priced, well staged home in any market.
There are numerous variables in a real estate transaction that can affect the outcome. Knowing what to look for and how to react from either side of the transaction is critical to having a smooth transaction. I don't use gimmicks to attract clients. My business is mainly referral because I have an honest, consultative approach that allows my clients to make the proper decisions. You know, every client has a different perspective about what works for them and finding that formula is my key to helping people.
I like to establish a working relationship with my clients to fit their needs, lifestyle and schedule. If it makes it easier for them then I do my best to make it happen that way. I will back up any advice I give using quantifiable market data, years of experience and a common sense approach. I have established excellent working relationships with other real estate experts including attorneys, inspectors, accountants, insurance providers and others that I can refer to in the event that my clients need specialty advice. I think you can have fun finding a home and I think selling a home doesn't have to be that stressful. With the proper planning, strategy and attitude it can actually be pleasurable.
Check out more information on Maryland real estate.
My Specialty
I am an expert at service first and foremost. My professional policy is open and frequent, truthful communication. I work with very nearly the same amount of buyers and sellers each year, so I have an excellent perspective from both sides of the transaction.
I am an Accredited Home Staging Professional which works out very well for my sellers and their buyers. It's important to me to make sure that my clients know that I am available for them when they need me. A large percentage of my clients are upscale buyers and sellers. They are typically successful individuals who have their own careers and need a flexible agent to work around their schedule. Most of my clients buy and sell homes between $600,000 and $2,000,0000; however I am just as comfortable helping first time purchasers. I embrace technology and have the latest and greatest tools at my disposal. All of my web tours are professionally prepared. I will only use well-lit photographs of staged property in any of my tours. All of my brochures and mailers are professionally prepared using full-bleed, high quality printing and glossy card stock.
My clients benefit from my thorough knowledge of Montgomery County, Maryland. Primarily my clients buy or sell in the Bethesda, Potomac, North Potomac, Rockville, Germantown and Boyds areas of Montgomery County. To find Maryland real estate in any of these areas go to Maryland real estate listings.
Testimonials
When I received the first offer for my house from the other agent I was sure was glad you told me to wait. You really lived up to your word when you brought me an offer from someone else for nearly thirty thousand more! Thanks Meyer for helping me get top dollar. It really helped with the purchase on the new house, which I also love. I would highly recommend you to anyone and everyone. Oh, I already have!
Teresa R.
Thanks for all the hard work. I didn't know how much really went into the process but watching you stage my home made me realize that you are a hard worker who knows what to do to make a house sell!
Thanks to the best REALTOR in the WORLD! We really appreciate your help! When it comes time to sell we will call you without a doubt!
Jeff and Angela L.
I really want to thank you for doing an amazing job! Even in a tough market you were able to do what you promised. I was definitely worried about getting my condo sold in time to move into the new place and you made it happen and we got top dollar. I would have never guessed it would hav sold in less thatn 2 weeks! I will pass your name to anyone interested in selling or buying a home!
Kevin G.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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