All of the other houses on my block have gotten into the spirit, cheerfully trimming their homes with colorful lights, blow up Santas, and cardboard reindeer, while my home sits dark, indicating my Dickensian (Dickenslike?) attitude towards the community’s Christmas spirit.

If I had been smart about it, or even slightly more enthusiastic about electronic manger displays (I’m still looking for somebody with a fiber optic baby Jesus in the front yard) and soaring electricity costs, I might have done what Dave Nosek of Elburn, IL came up with:

There’s a distinct possibility that I might be stealing this idea for my house next year….

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

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It’s also been expanded!  People who currently own a home are eligible to get up to $6,500 to “move up”!  Here’s a short video from Tom Kunz, President and CEO of Century 21, explaining the extension:

[youtube=http://www.youtube.com/watch?v=it-i_pbt1os]

In order to qualify for the $6,500, here’s a quick explanation of the guidelines for current homeowners (info on first timers can be found here):

• The credit is available for homes that go under contract by April 30, 2010 and close by June 30th, 2010.
• Current homeowners can claim a $6,500 credit as long as the property they are vacating has been their primary residence for at least five consecutive years out of the last eight years.
• Income limits: $125,000 a year for individuals, $225,000 a year for married couples. (these are higher limits than before)
• Homes that cost more than $800,000 aren’t eligible for the credit.
• $6500 tax credit is not retroactive.  (from the language of the bill: “shall apply to residences purchased after the date of the enactment of this Act.”

If you have any questions, please don’t hesitate to call or email me!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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[youtube=http://www.youtube.com/watch?v=b9pDkekZ6E4]

This Beautiful home with loads of upgrades is located right in
Waldorf! Large kitchen, and gorgeous family room! It’s Located in White Oak Village subdivision and move in ready! The
Open floor plan makes this home feel large and inviting. Beautiful
private deck with Large fenced back yard. and playset for the kids!
Don’t miss your chance to see this fantastic property!

~Jonathan Benya- Realtor
301-653-8116

Charles County Real Estate Blog
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[youtube=http://www.youtube.com/watch?v=ZtNPLcwBaho]

The price is only $285,000, and there’s no HOA to worry about!  Don’t miss out on your chance to see this great home!  This home needs absolutely nothing!  Give us a call to schedule a viewing of your new home!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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May 2009

What Does This Mean?

Unfortunately, prices have fallen from where they were 12 months ago.  A quick look at the sales statistics from April shows us some promising information, however:

April 2009

The average home sales price for April 2009 was $267,170.  In may, that number was $281,235, or an increase of just over 5% in sales price!  Not only that, but there were 86 homes sold in April, and 119 homes sold in May.  That’s a 28% increase in home sales over the last month!

So we know that home sales are up, sales prices are starting to rise, but why is the market starting to look a little brighter?  Well, part of it is that prices and affordability are enticing more buyers.  That, along with 45 year lows on interest rates, as well as the $8,000 new home tax incentive, means that first time buyers are seeing value in the soft market.

It’s too early to say turnaround, but home sellers are seeing some encouraging information here!  Let’s hope that this is the start of a broader economic recovery!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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This program, which covers up to 90% of the original purchase price of the home, is designed to help service members pinched by deflating home values. A copy of the DoD guidelines can be found here:

Download DOD_Guidance

I’ve already listed several homes that fall under this program, and although it is not ideal, any relief for our veterans is sorely needed and appreciated!  In order to apply, please visit the HAP website and download the eligibility and application guidelines to enroll in the program!

Related Posts:

Military Relocation Relief is expanding

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
SOMD Home Search
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1.    Condition Dictates Value

This means that the condition of the home will affect what the home actually sells for.  If the house is in shoddy shape, the final sales price will affect that.  Look at comps when you go to place an offer and adjust your offering price accordingly.

2.    Banks Aren’t Giving Houses Away

If it looks to good to be true, it probably is.  When you find a listing for home priced significantly below the surrounding market or neighborhood, there is always a reason as to why.  The concept of buying a livable home in Charles County or Southern Maryland for less that $10,000 is simply not true.  You can find some excellent bargains, but don’t expect to pay $200k for a home that is actually worth $600k.

3.    Home Inspections are Critical

Think about it like this:  The foreclosure process in Maryland can take a year or more.  That’s a full year where the homeowner has been unable to pay the mortgage.  If you are behind on payments and know that foreclosure is eminent, ZERO incentive to pay for upkeep and maintenance on the property.  After the foreclosure, the property then sits vacant and can develop issues related to it’s abandonment.  Always hire an inspector to go over the property with a critical eye.

4.    Great Deals Don’t Last Long

You’re not the only person out shopping for a home, and if a value priced property hits the market, you can bet there are lots of appointments be made to see it.  Make sure that your financing is in order before you start looking.  The last thing you want is to find the perfect house and then lose out to someone else who was able to get their offer in first.

5.    Bank Owned (REO) Properties Are Sometimes “Under Listed”

This stinks, but banks have been known to list properties way below market value on purpose.  They may list a home for $200k, Knowing it’s worth $275k, just to get a bidding war started between multiple offers.  They see it as a way to get the highest price possible, I see it as intentionally deceptive.  Agents occasionally refer to homes like this as “Liar Listings”.

How Do You Protect Yourself?

Get a buyers agent to represent you.  The listing agent on a foreclosure works for the bank, not you, and their job is to get the property sold while protecting their clients bottom line.  A buyers agent works at no cost to you, and their job is to help you make informed decisions and craft an offer that will save you the most money possible.

Speak to your buyers agent about the best way to prepare yourself for buying a foreclosure.  They will be able to help you get in touch with a loan officer, ensure the property you buy will conform to your loan guidelines, and help you hire a home inspector who knows what to look for in foreclosures, among other things.
With the right people on your side,buying a foreclosure is as easy as buying any other home, and the value and savings can be tremendous!

LINK: Foreclosure List for Charles County, MD as of 5/20/2009  Need an Updated List?

Questions about buying a Foreclosure? Give me a call!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment, provided you are using personal funds for the first 3.5% of the downpayment.

Donovan’s statement came in an address to several thousand Realtors® gathered at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo in Washington D.C.

If you’ve been looking at buying your first home, but the down-payment requirements have kept you from doing so, then this might be your chance to take advantage of a fantastic change in FHA policy.  Feel free to give me a call to find out more information or ask questions about how to take advantage of this program!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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When you’re putting your house on the market, there’s obviously a lot that needs to be done in preparation, such as rearranging, cleaning, and landscaping in order to maximize your house’s interior and curb appeal. But in today’s market, perhaps touching up the paint and making the minor repairs isn’t quite enough to make your house stand out.

This is why sometimes it might be best to upgrade when you’re putting your house on the market, especially when it comes to home lighting.

This might seem counter intuitive at first; why buy additional lighting that you won’t be using and that might be removed or altered by the eventual buyers? Certainly both points are valid, but a few changes can drastically help improve the appearance of your house and might in the process enable you and your Realtor to sell it at the asking price.

How to Get the best “Bang for your Buck”
When upgrading your lighting in this manner, it is worth noting that you want your upgrades to be based on functionality, not style. After all, you don’t want to purchase lighting based on what looks good to you but rather what you think would work for any future occupants.

Above all it is important to find lighting that will illuminate areas that previously didn’t have much light cover, as you don’t want to turn on your lights when showing your house only to have some unappealing dim spots. A few simple and inexpensive ways of rectifying this would be upgrading your vanity lights for your bathroom or purchasing kitchen island pendants and under-cabinet lighting for your kitchen.
You also need to consider the exterior of your house as well. Flood lights do an excellent job of accentuating the front of you house at nighttime, while path lighting can help highlight your landscaping while also providing safe and easy access to the house.

Both of these types of lighting will also make your house easier to find for the prospective buyers and will help its curb appeal as well.

Don’t forget about Sunlight!

Lastly, it is important not to overlook natural light, as this can be important during daytime visits. In this case, the littlest things, such as cleaning your windows and keeping all curtains and shades drawn up, can make a huge difference. Sunlight is always more appealing than artificial lighting, so it is important to utilize it whenever possible.

It goes without saying that the better you present your house, the better the chances of being able to sell it the asking price. Maximizing both artificial and natural lighting goes a long way in creating the right look and atmosphere for potential buyers.

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
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The guidelines for HAP have been revised to also include:

• Military personnel with PCS orders who are unable to sell their homes
• Wounded warriors required to relocate for medical reasons, and
• Surviving spouses of fallen service members

Who Is Now Eligible?

Eligibility requirements for the expanded HAP program are:

• Permanent reassignment requires move of more than 50 miles.
• Reassignment ordered between 1 February 2006 and 30 September 2012 (or earlier date designated by Secretary of Defense).
• Property purchased (or contract to purchase signed) before 1 July 2006.
• Property sold by owner between 1 July 2006 and 30 September 2012, or earlier date designated by Sec. Def.
• Property was the primary residence of the owner
• Owner has not previously received these benefit payments.

What Does This Mean?

Essentially the DoD will reimburse up to 95% of any loss on the sale of your home, provided the home was originally purchased before July 1, 2006.  The DoD MAY also elect to purchase your home from you for up to 90% of it’s current value.

Unfortunately to DoD has not yet released the detailed compensation guidelines, so they will not be approving any applications just yet.  They are, however, recommending that any Military Personnel who may be eligible should submit their applications ASAP.  Applications received now will be held until guidelines are released.

How do I apply?

In order to apply for the HAP program,all you have to do is go to the Hap Website and download the application form.  They have complete instructions there and will be notifying applicants once the guidelines are released.

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land