Real Estate Forecast

It’s hard to find a clear perspective on investing – whether in real estate or in stocks. Yet, when experienced people give advice, they usually suggest a long term outlook. Here’s what the founder of RE/MAX International had to say to an interviewer recently.


Click here for interview: Dave Liniger talks about the real estate market.

In Southern Maryland, our prices have not fallen as far as in other parts of the country and our foreclosure rate is not quite as heavy – perhaps because of our proximity to D.C. and our generally strong economic fundamentals. But, I agree with Dave Liniger that we are not likely to see an upswing in prices until Spring 2009 (18 months from now).

Private Hughesville Colonial

ROCK BOTTOM PRICE REDUCTION! INCREDIBLE 4 BDR, 2.5 BATH COLONIAL ON 3+ ACRES IN SOUGHT AFTER SCOUTS TRAIL. BRIGHT AND OPEN FLOOR PLAN, UPGRADED APPLIANCES AND FLOORING, VAULTED CEILING IN MASTER W/ SOAKING TUB, SEPARATE BATH AND WALK-IN CLOSET. VERY PRIVATE SETTING.

Lake Jameson Estate

Stately 5 bedroom Colonial in Prestigious Lake Jameson. 3 1/2 level acre estate with gunite pool, gazebo, and 2 amish sheds. Spacious floorplan, fully finished basement with 2nd kitchen and living space. King size elegance.

Huntingtown Colonial

This is it! Exceptional 5 bedroom Colonial in prestigious Wilburn Estates in sought after Plum Point School district. Gourmet kitchen, stunning landscape, fully finished basement with bath and workroom, library with built-in bookcase, screened porch, enormous master bedroom with sitting area. Priced to sell - Don't miss out!

Important Maryland Contract Update

SIGNIFICANT CHANGES IN THE MARYLAND RESIDENTIAL PROPERTY DISCLOSURE AND DISCLAIMER ACT (HB465 SB511) WENT INTO EFFECT MONDAY OCTOBER 1, 2007:


"...on or after October 1, 2007, a seller who elects to give a disclosure statement must now provide the purchaser with information regarding the existence and operability of carbon monoxide alarms installed within the premises. In particular, a new question will be added to the Residential Property Disclosure as follows: '... If the property relies on the combustion of a fossil fuel for heat, ventilation, hot water, or clothes dryer operation, is a carbon monoxide alarm is installed on the property.'"



ALSO: A NEW CONSERVATION EASEMENT DISCLOSURE TAKING EFFECT OCTOBER 1, 2007 (HB401 SB535) WILL REQUIRE CHANGES TO THE EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT. FAILURE TO MAKE NOTE OF THIS CHANGE COULD LEAD TO A RECINDED CONTRACT!

"Under the new law, every contract of sale must contain a notice to the purchaser as to whether the property is encumbered by one or more conservation easement(s) or other restrictions limiting or affecting uses of the property."

"The required contract of sale notice is specified in the statute. The Maryland Association of REALTORS® has prepared an addendum which contains the required statutory notice and will be disseminated to local Boards and Associations of REALTOR® on or before October 1, 2007."

"Under the new law, if the property is encumbered by one or more conservation easement(s), and the contract of sale does not contain the required notice as specified in the new law, then the buyer has the right to rescind the contract of sale."

New Hughesville Estate Listing

Magnificent Contemporary on three (plus) acres of wooded privacy. Gourmet kitchen, geothermal heating, flagstone paths, sprawling wraparound decking and patio, enormous master with California Closets, finished basement with media room and au pair suite complete with full kitchen and brick fireplace: absolutely no expense was spared. Near new bypass in prestigious bedroom community of Hughesville.

Calvert County

Drought

Weekly Commentary and Rates

The benchmark 30-year fixed-rate mortgage fell to 6.42 percent, according to a survey of national lenders. The mortgages in this week's survey had an average total of 0.36 discount and origination points. One year ago, the mortgage index was 6.31 percent; four weeks ago, it was 6.५ percent