January « 2010 « HomeBuyerPower®

Existing-home sales take a big fall in December

With wages dropping, unemployment rising and a shift towards sales of lower priced homes, among other factors, December sales took a big hit:

“Sales of previously owned homes took their biggest tumble in at least 40 years last month as the impact of a buying spree spurred by a tax credit for first-time buyers [...]

Worcester County Maryland Expecting $10M Less In Property Tax Revenue

The Maryland Coast Dispatch had an article yesterday on the effects of the popping of the housing bubble on Worcester County Maryland property tax assessment values and tax revenues:

“Worcester County can expect $10.4 million less in property tax revenue in the next fiscal year compared to the current, according to recent land reassessment [...]

Some Argue That Mortgage Default Is A “Patriotic Duty”

Michael David White at NewObservations.net had an interesting piece last week arguing that defaulting on one’s mortgage is a patriotic duty:

“The government is dropping nuclear bombs on the mortgage market and nobody is dying. They can’t move the product. What has been taking off are foreclosures. They are soaring. The general feeling is [...]

50 Tools Worth Considering to Research Your New Ocean City Maryland Home, Neighborhood, and Community

I’ve often thought that many homebuyers seem way too comfortable with way too little due diligence prior to making an offer on a property. I recently came across this article which addresses some of the other considerations Ocean City Maryland area home buyers should concern themselves with:

“Before you move, take a few minutes [...]

Homeowners Turn to Short Sales as an Alternative to Foreclosure

DSNews.com is reporting an increased shift by lenders towards Short Sales as a solution to their problems:

“Nearly 2 million housing units in the United States are in foreclosure or are bank-owned, and more are expected to follow, RealtyTrac said. Citigroup experts say the government’s current solutions have been ineffective at keeping people in [...]

This Year’s Housing Crisis

Well it’s 2010, and the New York Times has a piece worth a read about the current 2010 version of The Housing Crises.

“The financial crisis and Great Recession have their roots in the housing bust. When it comes, a lasting recovery will be evident in a housing rebound. Unfortunately, housing appears to be [...]

Md. home assessments to fall an average 19.7%– ‘Unprecedented’ slide is reversal of frenetic 2005-06 housing bubble

This has to be a super hot topic on the minds of the 1/3 of Maryland real property owners who will be receiving their Maryland real property assessment notices in the days ahead. The Baltimore Sun reported on December 29th that statewide Maryland real estate tax assessments were to fall an average of 19.7 percent:

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