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BRAC Update The Base Realignment planned for the Ft Meade area in Odenton, MD is beginning to show some traction. According to recent reports, the Spring of 2010 will produce 300-400 new job transfers to the area. This is a very small piece to the pie that will ultimately bring an estimated 22,000 new jobs to the area. Unemployment in Anne Arundel County is currently at 7.3%, substantially lower than the national average of 10.2%. The majority of the new positions to be filled at Ft Meade/ NSA (and additional contractors) will be skilled labor and will bring in a pool of not only workers but consumers. From income taxes, to higher spending in the local economy, and naturally housing needs, the surrounding area will benefit greatly from the incoming surplus. With a 5,000 acre campus available, the amount of office space currently under construction would pale in comparison to the nearby Pentagon. There is much opportunity for expansion which is scheduled to reach completion in 2015. Housing in the area has reached a level of affordability not seen in 32 years according to RE/MAX International. Low interest rates and the softening of the local market has led buyers out in droves to snatch up bargains in Anne Arundel, Howard, and Baltimore County. Days on market has reduced from 145 days to 122. As the local market continues its movement from a buyers market to a stable/ even playfield, home appreciation will be in the near future for local area homeowners.
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With summer coming up quick and farmer markets opening up, it is a great time to discover what is in your area that is local. Buying local is a great way to support local farmers and our local economy. There is a great website (http://www.somarylandsogood.com/index.html ) that can help those who live in or around the following counties: Anne Arundel, Calvert, Charles, Prince George's, and Saint Mary's. The website can help you locate farmers' markets, stores or restaurants that are selling or using local products, where farms are located and what they are growing and they let farmer's add their information to the website. The website also contains links to hiking trails in Southern Maryland. You can explore online or they tell you where you can pick up your free guidebook. If you own horses the website offers an Equine guide. There is also a kids guide with information for teachers or educators, parents and children themselves. With summer upon us and maybe some of us sticking closer to home, this website can provide you with some activities to do closer to your back door and find places to buy your produce which will help out local farmers.
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It's that time of the year in the Annapolis area where parents struggle with if they should pull their kids from school because the Blue Angels are coming to town. It is such a great time to pack a lunch and go find a spot to watch the planes show off their thrilling tricks. There are many vantage points to watch the Blue Angels in Annapolis. Some boats have a package deal to go out on the Severn River to watch the planes. Many people flock to the War World II Memorial area. There is a great grassy area where you can throw down a blanket and the kids can enjoy a snow cone. Across the river you can see downtown Annapolis and the Naval Academy. The community around the War World II Memorial is called Pendennis Mount. If you choose the War World II Memorial spot remember to bring your walking shoes (you will have to park along 450 and walk to the location), sunscreen (it always seems to be hot and sunny), and money for a snack. One other item we have brought for the kids are ear plugs. When the Blue Angles fly over it can be very loud!! The Blue Angels performance and flight demonstration will begin at 2 p.m. and will be narrated from Ingram Field. Spectators from other viewing areas can listen to WNAV 1430 AM to hear the broadcast of the narration. These events are free and open to the public. For more information and parking and other restrictions, call 410-293-2292. All Academy gates will be closed to vehicular traffic from 11 a.m. until conclusion (approximately 4 p.m.) USNA Bridge (Rt. 450) will be closed from 1:45 p.m. until conclusion. For more details including parking and gate restrictions, call our action line at 410-293-1000, or check our web site at http://www.usna.edu/SpecialEvents/CommWeek.htm
Contact: 410-293-1000 or visit www.usna.edu/SpecialEvents/CommWeek.htm
Location: United States Naval Academy. 121 Blake Road , Annapolis 21401 . http://www.usna.edu/ For a map of homes available in the Annapolis area overlooking the Severn River, click here
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This year's charities are Special Olympics, Camp Face and WE Care. Musical guests include Jonny Lang, Los Lonely Boys, Ana Popovic, Big Bad Voodoo Daddy, and Shemekia Copeland. Many more will follow. One concert stage with Jumbtron, large crafter village, a wide variety of food and drink, Beer and Wine, beach, playgrounds, lawn seating (General Admission only). EARLY BIRD Ticket Sales (before March 15th 5:00PM EST): General Admission Tickets: 1 day: $35, 2 days: $65; and VIP Package: (2 people, 2 days): $450 ADVANCE Ticket Sales (after March 15th): General Admission Tickets: 1 day: $45, 2 day: $80; and VIP Package: (2 people, 2 days): $500 Tickets purchased at the Gate (after May 15th 2:00PM) General Admission Tickets: 1 day: $65, 2 days: $115; and VIP Package: (not available at the Gate) Contact: 410-257-7413 Ext. or visit www.bayblues.org Location: Sandy Point State Park. 1100 East College Parkway , Annapolis 21401
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The 2010 budget for the Anne Arundel School District has come out (http://www.aacps.org/html/press/budget/2010_impact.pdf ) and like last year, the budget includes some very unpopular cuts. These cuts translate into potentially losing teachers, teachers losing benefits (or having to pay more for them) and a lack funding for necessary repairs/renovations to our schools. Many Anne Arundel Elementary schools will see a lose of teachers. Not all Anne Arundel parents or teachers for that matter are happy with the prospect of seeing class sizes increasing and are wondering where that will leave their children. Superindendent Dr. Maxwell has said that the lost positions will be absorbed into the school system. Additional teachers will be needed at middle schools because they are changing to six periods in a day. Teachers are also needed at Bates Middle School, South River and North County high schools. The budget also shows the lack of funds needed by Anne Arundel schools for their feasibility study, revitalization, replacement or renovation. Some schools that were slated to have their construction start now will not be able to. Schools that are still trying to have their studies done to see what to do with them have been pushed back by at least another year. One example is the Severna Park High School. The schools is in such poor condition that it came close to losing it's accreditation however a feasibility study may not be done until 2016 which would mean no construction until at least 2020. The teachers are also feeling the current budget cuts. The school board had requested additional funding to meet the neogiated aggrements and employee benefits. County Council has proposed $0 for the request. The County Council will hold two public hearings on the County Executive’s proposed Fiscal Year 2010 budget. The hearings are scheduled for Monday, May 11, at Old Mill High School, and Wednesday, May 13, at the Arundel Center. Both hearings begin at 7:00 p.m. Speakers can sign up beginning at 6:00 p.m. The Council must adopt a budget by June 1. Whoever has concerns regarding these matters should come to these meeting to express their concerns. The economic impact of the 2009 recession has clearly made its mark in Maryland and the impact is now being felt at the county/ school level. Anne Arundel County is known for strong strong schools and an emphasis on education. Will that impact affect real estate values? There is a distinct possibility, lets ensure our schools are properly funded for the benefit of all!
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Relay For Life will be coming back to Anne Arundel Community College in Arnold, MD on May 15th 2009. Relay For Life is a fundraiser for the American Cancer Society. Teams raise money as well as bring awareness and education about cancer to the community. The event itself is an overnight team event. A member of each team must be on the track at all times. The other team members "camp out" and enjoy entertainment, food, competitions, camaraderie and more. Relay is not a race/run and all ages are encouraged to participate. For information about the event at Anne Arundel Community College in Arnold, MD visit the Relay For Life website http://main.acsevents.org/site/TR/RelayForLife/RFLFY09SA?pg=entry&fr_id=13177. Anne Arundel Community College is located in Arnold, MD which is just minutes away from Annapolis, Cape St. Claire and Severna Park.
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Spring Time is Here!! With the arrival of spring it is a great time to get the kids and yourselves out of the house. Kinder Farm Park in Millersville is a great place to go. The park borders the city of Severna Park and the several communities. Kinder Farm Park is a part of the Anne Arundel Parks and Recreations so if you have a park’s pass it is free to get in. Kinder Park hosts a variety of activities for the young and old alike. There are trails both paved and dirt for hiking, bicycling and even horseback riding. A huge playground in located at the parks center and the farm offers many different animals that the kids love to look at. For those of you who love gardening, Kinder Park Farm offers community gardens for rent. It is a great place to come and try your hand at growing some of your favorite vegetables or flowers. Kinder Farm Park also has a 4-H Livestock Club. Children can join between the ages of 8-18. Living around Kinder Farm Park gives you a wonderful opportunity to enjoy the park throughout the year. Communities in Severna Park and Millersville have many entrance points to access the park. Communities such as Chartwell and Kilmarnock and Brittingham border the park. As of March 2009 the average sales price of Severna Park homes were $464,328. Home prices have steadily declined in recent months and are beginning to show signs of stabilizing in this Spring market. For more information on Kinder Farm visit their website at http://www.aacounty.org/RecParks/parks/kinderfarm/livestock.cfm For real estate information on Severna Park and Millersville please contact: RE/MAX Summit RealtyMike Johnson Realty Team 7944A Crain HwyGlen Burnie, MD 21061Direct: 410 544-8370 Office: 410 969-9195 Email: mike@annearundellistings.com
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Buying a home is a huge decision – not to mention a large financial commitment – one not to be taken lightly. Careful research and planning can help make you a more informed homebuyer. Below are some reading sources that can help prepare you for one of the most important undertakings of your life.
How to Inspect a House George Hoffman with Mark C. Friedman 10 Steps To Home Ownership, A Workbook for First-Time Buyers Ilyce R. Glink J.K. Lasser’s Guide to Buying Your First Home Joe Catalano The Field Guide to Home Buying in America Stephan M. Pollan, Mark Levine, and Michael Pollan 100 Questions Every First-time Home Buyer Should Ask Ilyce R. Glink The Complete Guide to Buying Your First Home Dodge R. Woodson Sylvia Porter’s A Home of Your Own Sylvia Porter Legal Aspects of Buying, Owning, and Selling a Home Daniel L. Johnson The Legal Side to Buying a House, Condo, or Co-op: A Step-by-Step Guide George Milko, in association with HALT Choosing a Real Estate Agent is equally an important task as well. In the Baltimore Annapolis region we would be glad to assist you with your real estate needs and help direct you to competent agents that put service first outside of the area as well!
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When applying for a home loan, personal finances will be your first concern. Your income versus your debt and the formula below will determine the amount a lender will allow you to borrow. 1. The first step is to determine your gross monthly income. This includes any regular and recurring income that can be documented. If you cannot document the income, or if it does not appear on your tax return, then you probably cannot use it to qualify for a loan. You can, however, use unearned income, such as alimony or lottery payoffs. If you own incomeproducing assets including real estate and stocks, that income can be used. 2. Next, determine your total monthly debt. This includes credit cards, installment or car loans, alimony or child support, or any continuing monthly obligation. For credit cards, use the minimum monthly payment for calculation purposes. For installment loans, use the current monthly payment. Installment debt that is scheduled to be paid in full within the next ten months does not have to be considered. This total is sometimes referred to as “monthly debt service.” Lenders will not allow you to borrow more than your ability to repay all of your obligations, especially your mortgage. 3. Your monthly housing expense including taxes and insurance should not exceed around 28% of your gross monthly income. If you do not know exact figures, tax and insurance expenses can be estimated at 15% of your monthly housing payment. The remaining 85% is assigned as interest and principal. 4. In addition, your monthly housing expense plus your total monthly debt service cannot exceed 36% of your gross monthly income. If you are not within this parameter, you may not fit the lender’s underwriting guidelines, and the lender may not approve your application. Each individual borrower has a unique situation, and different lenders may be more or less flexible than the 28% and 36% suggested guidelines. If you are able to purchase a home by borrowing less than 80% of the home’s value – by making a large cash down payment, for example – then these guidelines may become less critical. Many different loan programs are available, all with different guidelines, so some may be more applicable to your financial situation. Your financial professional or loan officer can outline a program that best fits your needs, helping you to get the home of your dreams. www.annearundellistings.com
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Most homebuyers are aware that having good credit is important in the homebuying process. However most don't realize that the pricing on their loan cna fluctuate by easily half a percentage point depending on their average credit score. Think of the compounding effect this has over a 30 year note... Literally a late payment on a credit report adds up to thousands over the life of your loan. Your best defense is a good offense. Once you understand how credit works, your are less likely to make costly mistakes. It’s to your credit to make sure your credit history is “clean” before visiting a lender’s office. Following these tips could improve your credit rating enough to qualify for the home of your dreams. It’s a good idea to review your credit report once a year, but it’s especially necessary before you apply for a loan. Order a report from all three major reporting agencies – Equifax, Experian, and Trans Union Corp. Information (and errors) on one report may or may not be identical to what appears on another. Each of the three agencies can provide a copy of your report. The reports are on each individual, and the cost varies from $0 to $30 per report. Only Experian will supply one copy each year at no cost, but keep in mind that any charge is minimal compared to how important the report is to your home ownership. Loan applications always require a summary of your debts. Be sure that your summary lists all your debts. Lenders can tellwhether something has been left out on purpose. Your credit report should verify what you put on your application, not expose new or damaging information. Although bankruptcies, judgments, and collections may jeopardize your chances for a loan, other – less serious – blemishes on your report are still potentially damaging. The number of times payments were late – by 30, 60, and 90 (or more) days – as well as a listing of creditors and high balances, will appear on your report. If you happen to be 30 days late one time, you may be okay. But if you’ve been 60 or 90 days late, your lender will probably want an explanation in writing. When you apply for a mortgage loan, the lender will be more interested in your mortgage history than your department-store account history. The way you’ve handled similar obligations in the past demonstrates to the lender that your mortgage payment will be a priority. If you find mistakes on your credit report, you can resolve the problem with the credit agency. But if incorrect information comes from a creditor, you’ll need to work with the creditor first. In many cases, writing to the creditor to explain your dispute may resolve the problem. If your last name is one used by many people – such as Smith or Jones – or if your name ends with Jr. or Sr., it’s even more important to check your credit report. People with these names are the ones most likely to have mistakes on their files. Also, be sure that joint accounts are closed if you are recently divorced. This helps avoid anything from your former spouse’s record showing up on your report. e A fee may be required for your credit report. Contact one of the following: Equifax Information Service Center P.O. Box 740241 Atlanta, GA 30374-0241 800/997-2493 www.equifax.com Experian P.O. Box 2104 Allen, TX 75013-2104 888/397-3742 www.experian.com Trans Union Corp. P.O. Box 390 Springfield, PA 19064-0390 800/888-4213 www.transunion.com
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Gorgeous End-Unit
• 3 bdrm single story
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MLS®
$329,000
- Realistically Priced!
Lyons Gate, Owings Mills
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Glorious End-Unit, side entry, lovely landscaping with Spring ready to bloom! Tasteful colors, hardwoods on main level leading to large deck. Kitchen island, large master with walkin, soaking tub and sep shower. Lower level rec room with tiled full bath, paver patio and 2-car garage! Low HOA, low rates, $8k rebate, act now!
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• 2 bath, 4 bdrm 4-level split
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MLS®
$359,000
- Priced To Sell
Elmhurst, Severn
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A private oasis awaits you! Located at the end of the street, well cared for split level with 4 levels of living. Lovely covered deck overlooks backyard and pool area. Living room with fireplace, home has been very well cared for throughtout the years. A home where the little things make the difference. Close to 97, 100, NSA, Ft Meade and shopping!
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Largest Model in Neighborhood!
• 1,584 sq. ft., 2 bath, 4 bdrm single story
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MLS®
$195,900
- Unbelievable Value
Elvaton Towne, Glen Burnie
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Fantastic price on this recently remodeled townhome. Largest model in community, recent kitchen remodel, recent HVAC, carpet, pergo floors, built in bookcases and office in lower level. Property is bank owned and sold as-is. Money is cheap and the deals don't get any better than this!
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