Team created to tackle mortgage fraud in state
City, state and federal leaders held a conference yesterday announcing the new Maryland mortgage fraud task force devoted to prosecuting scam artists.
Meanwhile, across the street at the U.S. attorney's office, representatives from more than a dozen agencies met to discuss the goals of the new task force, along with the basics of mortgage fraud and investigative strategies.
They received briefings and "developed plans to hold even more con artists accountable and deter mortgage fraud in the future. Attornies will seize cash, bank accounts, jewelry, artwork, houses, cars, boats and other assets that were purchased with ill-gotten gains and return the money to the victims.
Other agencies represented in the task force include the state's Department of Labor, Licensing and Regulation; the state attorney general's office; Insurance Administration; Department of Human Resources; police; and the state's attorneys' offices for Baltimore City and Montgomery, Prince George's and Baltimore counties. The FBI, Social Security Administration, Department of Housing and Urban Development, Department of Veterans Affairs, Internal Revenue Service, Postal Inspection Service and Secret Service are also involved.
Baltimore sends out tax bill notices with errors to property owners in the Midtown, Charles Village and Waterfront Management districts. The city is reviewing the files to determine the extent of the billing errors and will send follow-up letters to property owners when the mistakes are corrected. City officials anticipate the errors will be corrected by March. The errors are limited to liens for special benefit district taxes levied on properties in those neighborhoods.
Baltimore-area house prices plunge
Barely 1,000 houses sold in metro area during January
Home prices in the Baltimore area took the biggest year-to-year plunge in almost a decade in January, falling more than 10 percent as rising joblessness and credit woes continued to batter the housing market.
The average sales price in the city and five surrounding counties fell to $265,768 last month, Metropolitan Regional Information Systems Inc. said yesterday.
Sales plummeted by more than 21 percent, to just over 1,000 homes sold during the month.
Average sale prices in the area, which had jumped by double digits during the housing boom in 2004 and 2005, declined during most months last year.
In November, house prices fell by nearly 8 percent compared with a year earlier. Year-to-year home values have not fallen by more than 10 percent at any time since at least March 1999, when MRIS started tracking Baltimore area sales.
Moody's is predicting that Baltimore metro area prices will depreciate about 31 percent from when the market peaked to when it bottoms, expected in mid-2010.
Home prices had declined in the Baltimore area for the first time in at least a decade last year, according to preliminary figures from MRIS, with the average home price in 2008 down 3 percent to $306,500.
In January, MRIS said yesterday, Howard County saw the biggest decrease in sales price compared with a year earlier, with a more than 17 percent decline to an average $361,656.
Prices fell the least in Baltimore County, by nearly 5 percent, to an average $265,095 according to MRIS.
Vacant properties in the Mount Holly Neighborhood
Posted: 1/29/2009
In response to an unsolicited proposal, The Department Of Housing and Community Development (HCD) is making twelve (12) Mayor and City Council-owned properties in theMount Holly neighborhood available for residential redevelopment.
The property addresses areas follows:
o 2104-2112 Chelsea Woods Terrace
o 2120, 2124 Chelsea Woods Terrace
o 3724 Windsor Mill Road
o 2108 Allendale Road
o 3610 and 3710 Clifton Avenue
o 3509 Windsor Avenue
All of the properties offered are vacant lots. Additionally, the City holds a tax certificate on3800 Clifton Avenue and 2122 Chelsea Terrace. The respondent will be encouraged to redeemthese certificates and include these properties as part of the redevelopment effort.Properties are located in R-4 and R-5 residential zoning districts; they are not part of a local ornational register historic district. Baltimore City's Housing Market Typology defines MountHolly as a Transitional Neighborhood.
PROPOSALS MUST BE SUBMITTED BY NOON EASTERN TIME ON FRIDAY,MARCH 6, 2009. HCD anticipates awarding this proposal on or about April 6, 2009.
Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 21133 Randallstown, MD
From: 12/01/2008 to 12/31/2008 Statistics generated on: 01/07/2009
|
Residential |
Active Listings |
Time on Market |
||||||||
|
Price Class |
2 |
|
4 |
Condo |
Ground |
Residential |
Condo |
Ground |
of Units Sold |
|
|
Under $100,000 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
0 |
1 -30 Days |
3 |
|
$100,000 - 149,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
1 |
31-60 Days |
5 |
|
$150,000 - 199,999 |
0 |
0 |
1 |
0 |
3 |
22 |
0 |
3 |
61 - 90 Days |
1 |
|
$200,000 - 249,999 |
0 |
4 |
2 |
1 |
0 |
52 |
5 |
5 |
91-120 Days |
3 |
|
$250,000 - 299,999 |
0 |
2 |
4 |
0 |
1 |
38 |
0 |
3 |
Over 120 Days |
9 |
|
$300,000 - 349,999 |
0 |
0 |
1 |
0 |
0 |
13 |
0 |
0 |
Total |
21 |
|
$350,000 - 399,999 |
0 |
0 |
2 |
0 |
0 |
9 |
0 |
1 |
||
|
$400,000 - 449,999 |
0 |
0 |
0 |
0 |
0 |
8 |
0 |
0 |
Type of Financing |
|
|
$450,000 - 499,999 |
0 |
0 |
0 |
0 |
0 |
5 |
0 |
0 |
||
|
$500,000 - 599,999 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
0 |
Conventional |
3 |
|
$600,000 - 699,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
FHA |
17 |
|
$700,000 - 799,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
VA |
0 |
|
$800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Assumption |
1 |
|
$900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Cash |
0 |
|
$1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Owner Finance |
0 |
|
$2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
All Other |
0 |
|
$5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
|
Totals |
0 |
6 |
10 |
1 |
4 |
157 |
5 |
13 |
Total |
21 |
|
Grand Totals |
21 | 175 |
|
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Certified Residential Specialist & Distressed Property Expert specializing in Short Sales, Foreclosures, Residential & Investment Purchases. Baltimore Metro Area. BRAC. www.TheMACTeam1.com
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