Two Week Foreclosure Freeze

Fannie Mae and Freddie Mac are freezing foreclosure proceedings on homes from December 20, 2010-January 3, 2011 in an attempt to join in the holiday spirit for those who will lose their homes.

What they will prevent is people being evicted from their homes during this time period, hopefully allowing families to spend one last one together in them.

CNNMoney.com also interviewed Bank of America executives, who state that this is a practice they tend to follow each holiday season. Wells Fargo and JP Morgan Chase do as well. According to the article,

With the number of bank repossessions amounting to around 100,000 a month recently, the temporary reprieve could affect tens of thousands of borrowers in default.

That is a large number of people who could possibly have more time together.

The eviction process is the last step in the foreclosure process where the house has already been either sold at auction or been repossessed by the bank. The occupants of the house must either leave on their own at that point or face eviction.

So, a number of residents in foreclosure will get a few more weeks to breathe.

If you are facing foreclosure in Baltimore, please contact me. There may be other alternatives!

New Traffic Lights at Charles Street Circle

The new traffic lights are being installed at both the Charles St Roundabout and the off ramp from I-695 coming from the east, hoping to alleviate some of the traffic issues the area has faced for some time.

This is all part of the Charles St Bridge Construction project.

The light structures were installed over the last few days, but I am not sure when they will be used in practice. The roundabout will be going away completely, and the light will take its’ place.The State Highway Administration’s website site does not have exact details as to whether the light will be functioning first or if the roundabout will be closed. There could possibly be more closures as the transition occurs.

The Charles St entrance to 695 East is still closed coming south from Bellona.

Earlier Charles St closures included ramps to 695 W and lanes on the main road and the Beltway.

The SHA’s site says other changes will be occurring, including:

Reconfiguration of the two-way access road/ramp from Bellona Avenue extended to westbound I-695 and northbound I-83. SHA will separate the local traffic to the businesses from the ramp traffic.

- Removal of the roundabout at the Charles Street and Bellona Avenue intersection and the construction of a new traffic signal and turning lanes.

- Widening of Charles Street to provide an auxiliary lane on northbound Charles Street between Kenilworth Drive and the ramp to the I-695 inner loop and to add five-foot bicycle lanes in each direction between Bellona Avenue and Kenilworth Drive.

- Construction of sidewalks and other pedestrian accommodations on Charles Street.

- Addition of an auxiliary lane along westbound I-695 (Outer Loop) between the York Road (MD 45) interchange and the Charles Street interchange.

- Aesthetic enhancements, such as architectural treatments and ornamental lighting on the bridge, to distinguish it as a gateway to the Lutherville community and the Charles Street corridor. Charles Street is a Maryland Scenic Byway and a National Scenic Byway.

- A landscaped median along Charles Street between the bridge and Kenilworth Drive.

These will be great changes for the area, and should be completed in Spring of 2012.

Cold Weather Home Preparedness

First, Happy Purple Monday! The Ravens are taking on the Houston Texans tonight, so my video this morning has me in my Joe Flacco jersey!

Second, this morning’s snow, as well as Friday’s snow and last week’s frigid temperatures had been thinking about how to make my Towson home ready for this winter. Hopefully we won’t have a repeat of last year’s multiple Baltimore Snowpocalypse storms, but even the cold and normal amounts of snow need preparation.

I thought I would share some ideas!

My tips:

1) Shut off & drain outdoor hose bibs. If you can’t find your cut off valve, get a hose bib cover at a hardware store.

2) Have chimneys/fireplaces inspected and cleaned by a licensed chimney sweep.

3) Install carbon monoxide detectors — the Pikesville family this weekend was a sad reminder as to the importance of these detecting devices.

4) Caulk or install weather stripping around windows & doors to keep warm air in & cold air out.

5) Get your shovels now!

Towson Breakfast with the Grinch and Santa’s Workshop Saturday, December 11, 2010

This Saturday, come to Downtown Towson for Breakfast with the Grinch, the movie, and Santa’s Workshop!

Part of Towson Winterfest, these events are sure to please!

Come to Ridgely Ferrens at 11 Allegheny Avenue at 9 am to enjoy breakfast with the Grinch for a nominal fee of $5 for children and $10 for adults. From 10-12, head on over to the old Hutzler’s Building at 1 E Joppa Rd (at the Circle), where Santa’s Workshop will be open for shopping, where gifts run from $1-5. At 10:30, the movie “The Grinch” will be played for all to enjoy.

View Larger Map

So come enjoy Downtown Towson tomorrow morning for some good holiday cheer. It should be fun for all!

This Month in Real Estate December 2010

This Month in Real Estate December 2010 is ready for viewing.

First, Jay Papasan shares that houses on the market as “For Sale By Owner” has dropped from 11 percent to nine percent nationwide.

From a recent poll from the National Association of REALTORS, on average, homes tend to get more money when an agent is involved than when sold as a “For Sale By Owner” (also known as a “FSBO.” Coming up with a correct pricing strategy and preparing the home for sale were two of the biggest difficulties sellers had when getting their homes on the market. The report also states that 80% of FSBO sellers want an agent to handle most of the aspects of the actual sales transaction.

Then, Bryon Ellington talks about full service real estate professionals versus those who may not be.

Full Service Real Estate Agents can help you:

• Price your home according to the market.
• Market your home to other professional agents who represent qualified buyers.
• Post your home on MLS as well as many other websites.
• Hold open houses & provide many other marketing materials
• Can get sellers a higher sales price in less time than sellers attempting to sell on their own or with limited services.

If you are looking for a Towson real estate agent, contact me. I am full service, full time, and love what I do!

FHA Condo Approval Expiration Dates Extended

FHA Condo approval expiration dates were extended by the FHA, and this news shared by one of my mortgage partners, Brian Picker, of 1st Mariner Mortgage Corporation.

Thank you, Brian!

From Brian Picker, 1st Mariner Mortgage:

Big news as older FHA condo projects were set to expire yesterday which would have been a nightmare for getting them all re-approved by HUD in a timely manner.  In light of this HUD extended the expirations dates out based on when the original project was FHA approved.

FHA Condominium Project Approvals Expiration Dates Extended:

FHA announces extension of condominium project approvals with an expiration date of December 7, 2010. Provided below are the extension dates based on five-year time frames with the exception of those condominium projects with original approval dates from 1972 -1985.

Initial Project Approval Dates     Current Expiration Date        New Expiration Date

1972 – 1980                              December 7, 2010               December 31, 2010

1981 – 1985                              December 7, 2010               December 31, 2010

1986 – 1990                              December 7, 2010               May 31, 2011

1991 – 1995                              December 7, 2010               July 31, 2011

1996 – 2000                              December 7, 2010               August 31, 2011

2001 – 2005                              December 7, 2010               September 30, 2011

2006 – 2008 (Sept)                    December 7, 2010               March 31, 2011

The extensions were granted to reduce the impact of processing and reviewing the number of project approvals expiring at the same time while recognizing current housing market conditions.  Lenders and/or other interested parties are encouraged to begin the re-approval or recertification process as early as possible as it is not anticipated that any further extensions of project approvals will be issued.

The Condominium look-up page and the FHA Connection databases were updated on December 7, 2010 and now reflect the extended expiration dates.  The links to the sites are:

Condominium look-up page: https://entp.hud.gov/idapp/html/condlook.cfm

—————–

I have written much about the FHA Condo Recertifications, because we have so many Timonium condos that would be effected by these changes. Luckily, it appears, if they haven’t been recertified, they have some time to do so!

626 Budleigh Circle – Chapelgate Townhouse
Timonium, Maryland — Offered at $309,000. *UPDATE: RENTED*

• Download the Brochure (PDF)
• Schedule an Appointment
• Ask a Question
• View Virtual Tour

Explore this wonderful Timonium home for sale at $309,000…

• First Floor
• Second Floor
• Finished Basement
• Exterior
• Neighborhood

(Click on Any Picture to Enlarge)

Chapelgate Townhouse in Timonium, Maryland

This townhouse, built in 1991, is located in the Chapelgate community of Mays Chapel in Timonium, Maryland in Baltimore County.

Some new stainless appliances in the kitchen, new heating & A/C units this spring, as well as gleaming hardwood floors in the living room & dining room, super clean carpets up & downstairs, as well as a new roof last year, this home has it all.

Backing to trees, a new deck, plus a garage to park your car, bike, or store things, this home is a great one!

First Floor

Second Floor

Lower Level

Neighborhood: Timonium Real Estate in Baltimore County

The Chapelgate community is located in Mays Chapel off West Padonia Rd and Jenifer Road in the 21093 zip code. Mays Chapel is home to many, as the planned unit development hosts townhomes, condominiums, single family homes, and apartments. The Mays Chapel community has some new condos still being built in the area.

The Chapelgate townhome community has a Homeowner’s Association (HOA), and the monthly fees include law maintenance, mowing and common area maintenance. Don’t miss this gorgeous home!

13 Ringleaf Ct Hunters Run

13 Ringleaf Court in Hunt Valley Station has returned to the market, and is a five bedroom home with two full baths upstairs, and a full bath on the lower level.

**UPDATE: This home settled 1/28/2011**

This is a Faust-built home in the Hunt Valley Station community. It is located on a court location, and is for sale for $565,000. I recently viewed this home, with its’ updated appliances, and nice exterior.

Currently, there are no other Hunt Valley Station single family homes for sale. Multiple homes in Hunters Run have sold in the past six months, and a competitive market analysis can be run to show true value.

Contact me for more information on 13 Ringleaf Ct and Hunters Run detached homes. I know the community well!

Home Listing courtesy of Lancaster Realty.

Towson Tree Lighting Ceremony 2010

The Towson Tree Lighting Ceremony will be this Saturday, December 4, 2010 beginning at 6 pm.

Come to Downtown Towson at Olympian Park just off the circle near the Towson Town Center mall to enjoy the arrival of Santa and Mrs. Claus on a fire engine & the tree lighting in the new park at 6:30! The Baltimore Sheraton North will be providing hot chocolate and cookies, and local stores will be offering specials.

Santa will be ready to have little ones visit & share their holiday wishes, and have photos taken at Ridgely & Ferrens on Allegheny Avenue! (Bring your own camera if you want a photo!)

The event, put on by the Towson Chamber of Commerce, will be showcasing local talent in performances by the Perry Hall Middle School 8th Grade Jaguar Choir, Chapel Hill Music Sensations, Anna Apicella School of Dance, and Towson University’s a cappella group Purrrfect Pitch.

Barnes & Noble will have a book signing, and Santa’s Workshop opening in the building.

All of this is part of the Towson Winterfest Celebration all December long. Come join in!

Maryland High School Football Finals at M&T Bank Stadium

This week is the Maryland Public Schools Secondary Athletic Association (MPSSAA)’s football finals. This year is very exciting because not only will the games be played in Downtown Baltimore at M&T Bank Stadium, they will be televised live on TV!

The first game will be Thursday, December 2, 2010 at 7 pm between Franklin High School in Reisterstown in Baltimore County and Wilde High School in Columbia, MD.

Friday night showcases Urbana High School from Frederick County against Henry A Wise in Prince George’s County.

Saturday is a double header with the first game at noon for the Class 1A title with Paul Laurence Dunbar High School in Baltimore City taking on Havre de Grace in Harford County. The second game is at 3:30 pm with Middletown High School in Frederick taking on McDonough from Charles County.

The MPSSAA is excited for this weekend, which culminates in the Sunday night Ravens game versus The Pittsburgh Steelers. This is a huge football week here in Baltimore!

So head to Federal Hill and M&T Bank Stadium in Downtown Baltimore for a half week of great football. Support the young men playing in the championships and then the Baltimore Ravens on Sunday night!

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