Join Go Brent’s Debbie Gerald and Caliber Home Loans’ Ramez Fahmy for a free First-Time Homebuyer Seminar.
We’ll discuss the ins and outs of purchasing and financing your first home/condo. If you’ve been thinking about buying in the near future, this is a great opportunity to ask questions and learn about the buying process.
When: Saturday, October 27 from 10:00-11:30AM Where: Silver Spring Civic Center in downtown Silver Spring
There is no cost or obligation, just plenty of information! Can’t attend but want to know more about the home buying process? Contact Debbie for more information.
We have real estate pricing stats with data through mid-year 2018. The stats cover the past ten years of home sales. We have stats available for zip codes in Silver Spring, Takoma Park, and Kensington. Some zip codes show that home prices are near, or exceed, where we were at the top of the market.
We’re happy to share this data with you! Fill out the form below to request your copy.
Join Debbie Gerald with Go Brent Team of Keller Williams Capital Properties and Ramez Fahmy, Branch Manager at Caliber Home Loans for an informative seminar on how to purchase your first home. The seminar is offered on Saturday, January 27 from 10-11:30am at the Silver Spring Civic Center in downtown Silver Spring. There is no cost or obligation, just plenty of information! Please register in advance.
Homebuyers are invited to come discuss the ins and outs of purchasing and financing your first home. You’ll also have the opportunity to ask questions and learn how to start the home buying process.
A little more about your hosts:
As a member of Go Brent Team, a top-ranked DC Metro area team helping 40 clients to buy homes last year, Debbie Gerald specializes in educating first-time homebuyers on the home buying process and the many avenues available when purchasing your first home. Debbie is an expert in the marketplace and an experienced contract negotiator; she also provides clients with superior service. Buyers know they can count on Debbie to guide them as they search for the right home.
Caliber Home Loans Branch Manager Ramez Fahmy offers buyers 20-years experience in mortgage lending. Ramez is dedicated to providing superior service and expert guidance to first-time buyers throughout the home financing process. Caliber Home Loans offers competitive rates and fees along with innovative mortgage solutions to first-time homebuyers. Last year Ramez helped over 100 clients finance their home purchase. (NMLS#: 476394)
Can’t attend but want more information about home buying process? Email Debbie or call 301.873.0422.
Can you believe we’re more than halfway through 2017? Our real estate pricing stats are updated through mid-year 2017. The stats cover the past ten years of home sales. We have stats available for zip codes in Silver Spring, Takoma Park, and Kensington. Some zip codes show that home prices are near, or exceed, where we were at the top of the market.
We’re happy to share this data with you! Fill out the form below to request your copy.
Tax Bills are Here – Ensure You’re Receiving Tax Credits! Homestead Property Tax Credits and New Mo Co Tax Credits for Elderly & Military Retirees
It’s July, for Montgomery County homeowners this means that tax bills will be arriving in your mailboxes shortly – the County estimates mailing bills in mid-July (bills will also be available via the County website).
Homestead Property Tax Credits
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When you receive your bill you should look to see if you are receiving the Homestead Property Tax Credit (you’ll see “County Property Tax Credit”). This tax credit was established to help homeowners deal with large assessment increases on their principal residence. The Homestead Credit limits the increase in taxable assessments each year to a fixed percentage.
To prevent improper granting of this credit, a law was enacted in 2007 that requires all homeowners to submit a one-time application to establish eligibility for the credit. There are several criteria to be met, but the main conditions are that the property is your principal residence and you must have lived in it for at least six months of the year, including July 1 of the year for which the credit is applicable.
If you are not seeing a homestead property tax credit on your tax bill, you should determine the status of your Homestead eligibility by looking up your property on the Real Property Database.
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Look at the bottom of the page, where it says Homestead Application Status. If it says “No Application,” then you should reapply to capture this credit on future tax bills.
For more info, check out frequently asked questions about Homestead Property Tax Credit, or contact the Homestead unit directly at 1-866-650-8783 or visit their website.
Tax Credits for Elderly & Military Retirees
Earlier this year the Montgomery County Council also enacted new legislation granting property tax credits for elderly individuals and for military retirees. Owners who are 65 or over and who has owned and lived in the dwelling for at least 40 consecutive years or those who are 65 or over and a military retiree may qualify depending on the assessed value of the home.
For 2017 taxes only, applications will be accepted until September 1, 2017. If you wish to receive a credit for your 2017 taxes, you must apply by September 1, 2017. For all other tax years, you must apply by April 1. This tax credit will not be issued on the July property tax bill; instead it will be calculated and issued on a subsequent revision of your tax bill, with the tax credit appearing as a line item deduction on the bill.
You can read more about the new tax credit and how to apply here.
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photo via Tom Merton/iStock; hobo_018/iStock; pamspix;iStock
We recently came across this article from realtor.com that digs into the current housing market for both baby boomers and millennials.
“Younger and older generations alike are gravitating toward smaller dwellings in more urban, walkable suburbs and cities, with restaurants and coffee shops around the corner.” – Realtor.com article
“This is spot on,” per Liz Brent. “The outer zip codes of Silver Spring have not recovered from the crash in 2008 and unless there is significant development other than housing and transportation fixes, they likely will not recover. Meanwhile, what we are seeing the innermost zip codes, in Takoma Park (20912) and Silver Spring (20910, 20901, and parts of 20902), is that very few houses stay on the market for any length of time and we continue to see multiple offers, particularly on renovated houses.”
Many buyers are contemplating what a rise in interest rates would mean. Here are two scenarios that illustrate savings at a lower rate:
Buying a $400,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:
You save approximately: $80/per month $960/per year $30,000 over the life or the loan
Buying a $650,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:
You save approximately: $135/per month $1,620/per year $50,000 over the life or the loan
One of the most important factors when buying a home (or refinancing your current home) is choosing a lender.
As Cari Jordan stated, “I am concerned about the transaction going as smoothly as possible; the chances of that happening increase when a buyer uses a local lender with a good track record, who has processors, underwriters, and appraisers who are also based locally and familiar with our area.”
Over the years, these local lenders have served Go Brent Team’s clients well. Feel free to contact them directly or reach out to us and we’ll be happy to introduce you.
Join Debbie Gerald with Go Brent Team of Keller Williams Capital Properties and Ramez Fahmy, Branch Manager at Caliber Home Loans for an informative seminar on how to purchase your first home. The seminar is offered on Tuesday, March 28 at 7:00-8:30pm at the Silver Spring Civic Center in downtown Silver Spring. There is no cost or obligation, just plenty of information! Please register in advance.
Homebuyers are invited to come discuss the ins and outs of purchasing and financing a first home. You’ll also have the opportunity to ask questions and learn how to start the home buying process.
A little more about your hosts:
As a member of Go Brent Team, a top-ranked team in the DC Metro area, Debbie Gerald specializes in educating first-time homebuyers on the home buying process and the many avenues available when purchasing your first home. Buyers know they can count on Debbie to guide them as they search for the right home. Our agents are experts in the marketplace, highly experienced contract negotiators, and provide clients with superior service. Go Brent Team helped 45 clients purchase homes last year.
Caliber Home Loans Branch manager Ramez Fahmy offers buyers 20-years experience in mortgage lending. Ramez is dedicated to providing superior service and expert guidance to first-time buyers throughout the home financing process. Caliber Home Loans offers competitive rates and fees along with innovative mortgage solutions to first-time homebuyers. Last year Ramez helped over 100 clients finance their home purchase. (NMLS#: 476394)
Can’t attend but want more information about home buying process? Email Debbie or call 301.873.0422.
We’ve updated our real estate pricing stats through year-end 2016. The stats cover the past ten years of home sales. We have stats available for zip codes in Silver Spring, Takoma Park, and Kensington. Some zip codes show that home prices are near, or exceed, where we were at the top of the market.
We’re happy to share this data with you! Fill out the form below to request your copy.
