Tim McIntyre

You may have heard of FHA loans or FHA Mortgages - but do you know what it's about? An FHA Loan is a loan that is guaranteed by the Federal Government. It allows a buyer to put down as little as 3.5% on a property, which is very helpful in our market where home prices can be high. FHA Loans are very common in our area, especially since the zero-down lending market has disappeared, and since the Government raised the limit to as high as $625,000 in some areas.

Other benefits of FHA loans are that they offer relaxed credit score guidelines, lower PMI (Private Mortgage Insurance) than Conventional Loans, and non-occupant co-borrowers. Further, the Seller can contribute a substantial amount toward closing, as much as 6% of the Selling Price.

You may have heard lately on the national news that the Real Estate Market is flat. Or you may have heard that the Real Estate Market is down, or not doing well. But since Real Estate is sold on the local level, what's happening in other areas just doesn't apply here.

I've been working with a family the past few weeks - they are looking to purchase a single family home with an in-law suite. They want what the area has to offer - good schools, good location, and a nice community.

We have place bids on three different homes in the past two weeks. On the first two homes, my buyers were outbid, by other buyers willing to pay over the list price. Currently, we are in a competing bid situation on a third property. My buyers love the house and are willing to pay over the list price in order to get this home.

Needless to say, in this part of Maryland, in this price range (approximately $350 - $400,000), homes are moving.

The homes below represent a very small sampling of what's happening in our local market: these homes are all located in either Howard, Carroll, Baltimore or Frederick County, have all sold in the past six months, and were all on the market for less than 30 days: