Mori Langshaw

Across the country, markets are suffering and Fort Washington is no exception. Seller can't sell their homes in the traditionally manner because home prices have declined so much and buyers are required to put more and more money as a downpayment on homes to get decent financing through the conventional method. One of the ways I have been able to help homeowners and buyers is through lease options.

I have many properties in Fort Washington and throughout Prince Georges County that the Seller wants to sell but do not want to (or can't) do a short sale, so I suggest a lease option. Lease Options are way to buy and sell homes without immediate traditional financing. It is a great way for buyers to get into a home and have some "skin in the game" while they, either, build up their credit and/or save for a downpayment. While advantageous for the buyer, it is equally advantageous for the seller. They get a leg up on the competition buy being able to sell their home quicker and, more than likely, a better price.

Other advantages for the Seller is that it allows the Seller to actually sell the home. This is not a pure rental arrangement. More times than not, Sellers can sell their homes in a soft or down market (like we have now). The best advantage for the Seller when I do Lease options for them is that it allows them to beat their competition of people who are trying to sell their homes the traditional way.

Advantages for the buyer when buying on lease options are that they are not obliged to purchase the home at the end of the "option" period if they decide the home is not the right one for them in the long run. They have built up their credit in a manner which is suitable for purchasing a home with conventional or government financing and they can get into a home right now even if they don't qualify to get the financing.

So how does this all work? Simply put a lease option works where the buyer and seller agree to an option that gives the buyer the right to purchase the home within a set period of time. Now during the "option period", the seller is not allowed to sell the home to another purchaser but at the end of the option period the buyer must, either, buy the home or forfeit the option fee paid to the seller at the time of lease signing.

The million dollar question for us as Real Estate Agents is "How do I get paid doing this?". A very valid question and to put it simply - when the buyer and seller agree on a purchase price and the length of the term, the buyer gives the seller an "Option fee" (similar to a downpayment on a regular purchase). A portion of the option fee is yours. I usually do around 2% of the final sales prices. If an agent brought the buyer for your lease option listing (or vice versa) then that 2% is split between the two of you. Then you collect the rest at the actual time of purchase, whether it be 12 months, 24 months, whenever. Now, when I do lease options for clients, I usually charge a premium on that service. 1. I am not getting full commission right now and 2. It is actually a higher level of service than most agents are giving. So, I usually get 7-8% when the house is actually sold to the lease optionee.

This provides me with a current stream of income and more income in the future. One thing that I was taught is that you have to adapt to market conditions and life, in general. The adapt or die principal. Just ask the short necked giraffe. They said to themselves, "I'm not eating from those tall trees, are you kidding me?" Look what happened to them.

For more information on selling your home through the lease option in Fort Washington, MD in Prince Georges County, reach out to me at my blog at http://www.MoriLangshawSr.com and talk soon.

A few years ago, new homes in Fort Washington, MD in southern Prince George County flew off the market. Builders flocked to the area like this was the last area to build on earth. Buyers stood in line and actually slept outside to put a contract on a home in Fort Washington.

Today, our area new construction projects have come to a halt. Because of this, Fort Washington Area homes have Good and Bad news. The Bad news is that most of the people that slept outside in line to put a contract on a home, could not afford the home they purchased. Most ended up in foreclosure or some were sold via a short sale. The Good news is that many homebuyers are now coming back into the market to purchase the short sale homes.

To buy a short sale in Fort Washington is not difficult as there are currently 227 actively listed short sales for sale in Fort Washington, MD. Now due to two major developments that have happened or will happen, Fort Washington is, again, a sought after area to purchase a home. The National Harbor gave Ft Washington, MD a huge national footprint. Also, planned is a long awaited strip mall that a Target and some other large corporations are planning on building. This is happening in the Steeds Rd/Piscatway area really soon.

Both of these developments are causing homes in Fort Washington to stay on the market much less than the average time on the market. Surrounding these two developments are builders who are now having less trouble selling their spec homes. If you are considering new construction in Fort Washington, MD for an upcoming home purchase, visit thephenomagent.com and let us show you how our experience working with builders like Churchill Group, Ryan Homes, Midatlantic and Toll Brothers can assist you in purchasing new construction in the Fort Washington, MD area.

Excuse my slang (hilzot, slang for HOTJ)

More and more homebuyers are calling Fort Washington, MD Home because it is right outside the hub of the government controlled Washington DC. Jobs are plentiful in this area because of the government. Fort Washington spans from the National Harbor all the way down, approximately 10 miles, Indian Highway and another 3-4 miles east and west.

Fort Washington real estate overlooks the Potomac River in Prince Georges County. Fort Washington is home to a 340 acre park that offers picnic areas and hiking for the outdoor enthusiasts. The park itself is a National attraction overseen by the National Park Service and it is well maintained. Many Fort Washington properties are by large waterfronts served by a golf course, two marinas and a Country Club in Tantallon subdivision. Beyond the park and the National Harbor, Fort Washington property owners have a wealth of amenities, including live performances at, what used to be, an area elementary school, which is now - Harmony Hall Regional Center.

Buying a home in Fort Washington, MD is very popular among families with school-aged children and the teenagers get to attend my alma mata, Friendly Senior High School. The public school system in Prince Georges County has been rated top 5 in the state, so rest assured that your child is bound to get a great education.

The opportunity to buy a home in Fort Washington is becoming more and more attractive is because builders swarmed the Prince Georges County area and built homes by the hundreds of dozens. The unfortunate situation is that many of those homeowners could not afford the home and you have a lot of people who need to sell their homes short. So it becomes a double edged opportunity to purchase a beautiful home in an area that is sought after and a property that is larger than most for great deals.

All About Buying A Home In Fort Washington, Maryland = Simply The Best!

If you want to buy a home in Fort Washington, MD, you are making one of the wisest decisions in purchasing a home. You have heard the old adage that when looking to purchase real estate, it’s all about location, location, location.

Well, picture buying a home in Fort Washington, MD if you like Entertainment! Fort Washington is anywhere from a 2 minute drive to a 20 minute drive to the government hub of jobs - Washington, DC. It makes for an easy commute to and from your place of employment. Even though every major city has their gridlock issues, Fort Washington, MD has done a lot to circumvent the traffic issues. Within the past 5-10 years, they have widened the major highway, Indian Head, to 3 lanes and made exit and entry to Washington DC extremely easy. It made me (almost) want to drive to work when I was working for the good ole government.

Buying a Home in Fort Washington, MD has been extremely attractive because Prince Georges Country recently announced their “Down Payment On Your Dream” Program where First Time Homebuyers can receive down payment and closing costs assistance when purchasing a vacant foreclosed property in Prince Georges County. Certain criteria should be met such as household income and it must be in an eligible zip code. (Based on the map I saw, that would be most of Prince Georges County, including Fort Washington, MD)

All in all, if you are ready to purchase a home in Fort Washington, MD then this may be the perfect opportunity for you. Don’t forget that First Time Home Buyers are still eligible for the $8,000 tax credit to purchase a home in Fort Washington, MD. I have never seen a more perfect mix of opportunities for first time home buyers to take advantage of incentives laid out by the Federal government on the National, State and Local levels than now.