West Towson Elementary School Boundaries Meeting March 10 and West Towson Homeowners

On March 10, the Baltimore County Board of Education had a final meeting before their March 23 vote on the boundaries of the new West Towson Elementary School.

This meeting, unlike the one in January, which had hundreds of attendees with many speaking about the boundary options, this one had very few, and only four Board of Education members available.

Loni Ingraham of the Towson Times covered the hearing, and described it as very tame in comparison to other sessions.

The scenario that has been recommended by the panel for the vote is the West Towson Scenerio G, as depicted in the 4th page of this document provided by Towson Families United.

It is a relief to have these meetings behind us and will be nice to be able to move forward, knowing where children will be attending school in the fall. Most West Towson homeowners were in the same position as my family, where in any of the scenerios, our district would be changed to the West Towson Elementary School, so we were not as affected as others.

I can understand the irritation and passion over where someone send their child to school, but redistricting can ALWAYS happen, and at least the Baltimore County Board of Education gave Towson residents the opportunity to have their voices heard.

This redistricting is part of why Maryland Realtors® are not allowed to talk about the quality of schools when helping someone with the purchase or sale of a home. Most also recommend calling your local school board or looking online (like www.bcps.org for Baltimore County Public Schools) to find a school district. You cannot safely choose a home solely because of a school district because you never know when the attendance boundaries might be changed.

Broker’s Open 20 Perryfalls Place Wednesday, March 10, 2010 12-2 pm

This Wednesday, March 10, 2010, please join me and my company, Keller Williams Excellence Realty, at a Broker’s Open to showcase my new listing at 20 Perryfalls Place in Perry Hall, MD.

This great townhouse has three bedrooms, one full bath, and two half baths, plus large, open living spaces on each level.

I will be there on Wednesday, along with my office colleagues as well as agents from other real estate brokerages in the area. Stop on by to have some light lunch and view this home, and share feedback with me so I can share with my seller!

Weather.com shows around 60 degrees and cloudy on Wednesday, so make sure to enjoy the warm weather and some light food on the deck off the kitchen and dining room of this great home!

20 Perryfalls Place – Oakhurst – Nottingham, Maryland
Offered at $230,000

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Nine Weeks Left in Homebuyer Tax Credit Extension — Will It Be Extended Again?

A discussion I have been involved with here in the Baltimore area about the crippling snow and the effect on the Baltimore real estate market has people in the real estate world wondering if the homebuyer tax credit may be extended again.

On Monday, the Wall Street Journal wrote an article about the credit, and how lobbyists are gearing up to try to have it extended.

In the northeast, the sheer fact of houses not being able to be shown for the majority of a month due to the snow is a big part of the issue.

Other areas of the country make the point, as recounted in the Wall Street Journal article, that banks often are often taking a long time to approve short sales. I personally have found that this delay creates the issue of buyers who qualify for the credit not considering these homes as options.

It will be interesting to see if it will happen. Washington stated that it would not be extended further, and I can understand if that does not happen. Without the urgency of it ending, the credit cannot do its’ job, which is to help people get into homes.

The other looming deadline we have right now is the upfront Mortgage Insurance Premium for FHA loans, and the fact that that rate is going up from 1.75% to 2.25% for loans whose case numbers are assigned after April 5, 2010. This means that buyers desiring to use FHA financing should be pushing to have a home under contract by the third week in March, giving them about three weeks from now, to ensure their case number is assigned prior to April 5, 2010.

Two very important deadlines are looming, and I will be following how the Baltimore real estate market responds to them.

Baltimore Real Estate Market Third Week of February 2010

As we enter the fourth and final week of February, I am reminded as to where the market was last year at this time versus this year.

I have seen showings become more frequent in the past week and the excitement over spring’s arrival in the next few weeks definitely brings people out to look.

The snow storms we had this month really put a halt to the market, as some homes were inaccessible (all of them for a long period of time) until just recently.

February is not notoriously a great time to sell your house. Often times people wait “until spring” to make sure the snow is over and the buyers are out looking.

This year we have the First Time Homebuyer Tax Credit end looming, and sellers are taking notice and attempting to get their homes on the market. The other driving force we have right now is the April 5, 2010 deadline for FHA to avoid the higher up front mortgage insurance premium.

It appears that tomorrow we will have heavy rains which should melt a lot of snow, and may cause some flooding. These are issues that sellers most likely usually don’t have to handle, and buyers need to be aware that these are highly unusual circumstances.

Many gutters have fallen, and one of my clients, who is making a claim on his gutter system said that his insurance company told him they are declaring the Baltimore area a “disaster area”. This means that roofers are overwhelmed and not available, which means this rain tomorrow and possible snow Thursday could be big problems for many Baltimore homeowners who no longer have their usual defense against water coming into their basements and main levels on their homes.

Sellers have to be aware of what is happening, and be prepared. Buyers need to be understanding and patient, and realize that these homes most likely do not usually let the elements enter!

Hopefully March will bring us much needed warmer weather so Baltimore homebuyers can get out and take advantage of these credits and lower upfront PMI, and sellers can have their homes returned to their usual states.

Punxsutawney Phil Sees His Shadow — Baltimore Will See Six More Weeks of Winter

Well, Punxsutawney Phil saw his shadow yesterday, so we here in Baltimore can expect six more weeks of winter.

Of course, no matter what, there will be six more weeks of winter. But with the snow covering from overnight, and the 1-2 feet predicted for Friday (Friday 3-6 inches, overnight 6-10 inches) into Saturday (an additional 1-3 inches), I believe the wintry weather is here to stay for some time.

At the grocery store yesterday, there was still some milk, and a variety of breads, but I went before 5 pm. I hope you are stocked through the weekend, because if the predictions remain as they stand, the panic will set in by tomorrow afternoon.

So bundle up, hunker down, and get ready for some more home time. Remember to dig out your board games, get your break & bake cookies, and stay safe as you “enjoy” another snow storm. For fun, read my sarcastic list of how to enjoy the winter white. It was much more enjoyable back in December, I’ll tell you.

Be safe!

Ramp from Southbound Charles Street to I-695 East to be Closed on February 4, 2010

Charles Street traffic heading south from Lutherville in Towson will be hitting another snarl beginning Thursday night around 8 pm as the entrance to I-695 East will be closed long term as part of the ongoing Charles Street Overpass construction project.

This means cars coming south on Charles Street from Seminary Avenue or the circle at Bellona Avenue will not be able to make a left to enter the beltway going east.

From the State Highway Administration’s website:

The official ramp detour route: north/eastbound Bellona Avenue to eastbound MD 131 (Seminary Avenue) to southbound MD 45 (York Road) to the York Road Interchange ramp to eastbound I-695…

Temporary traffic signs will guide motorists through the official detour route in Lutherville and the ramp closure will remain in effect until early fall 2010.

So yes, this will be a big change for those traveling south on Charles Street from the circle & Seminary Avenue, but the long term benefits should much outweigh these inconveniences!

Homebuyers Claiming Tax Credit Cannot E-File

Homebuyers who are claiming either the $6,500 move up credit or the $8,000 First Time Homebuyer Tax Credit cannot file electronically, according to the IRS.

One of my past clients let me know of this after she read an article on MSN. (Thank you for the information and link!)

The reason for this restriction is that unfortunately there were many suspicious claims last year, and the government is trying to curtail tax fraud. There is also an additional form and a decent amount of supporting paperwork that needs to be sent in to prove eligibility for the credit.

The additional paperwork First Time Homebuyers claiming the credit need:

For purchasers of conventional homes, a copy of Form HUD-1, Settlement Statement, or other settlement statement, showing all parties’ names and signatures, property address, sales price and date of purchase.

For purchasers of mobile homes who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties’ names and signatures, property address, purchase price and date of purchase.

For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.

For those long time homeowners who moved and qualify for the $6,500 credit, this is the additional paperwork they will need to submit:

Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,

Property tax records or

Homeowner’s insurance records.

Here is Form 5405 from the IRS.gov site. For instructions on how to fill it out, click here. For long term owners looking to claim the $6,500, here is Form 1098.

The good news is that homebuyers who are going to claim the credit can still use the electronic tax preparation programs they would to e-file, but instead of clicking a button to submit, they will need to print it, attach the supporting documents, and mail!

(All in all, the few extra steps and the longer time it will take are worth the up to $6,500 or $8,000 credit that the filer will receive!)

White Marsh Real Estate Values May Get Boost From GM Electric Motors Plant

General Motors announced today that its White Marsh plant is going to be its hub for building electric cars, creating 200 new jobs in Baltimore County. Andrea K. Walker of the Baltimore Sun reported this news shortly after GM announced it this afternoon.

This could be wonderful for the White Marsh and Perry Hall housing market because these jobs created may bring people from outside of the area, and they will need places to live! Other areas that could benefit could be Harford County up towards Bel Air like Abingdon, Fallston & Joppa, because they tend to be a quick commute to the area where the factory will be.

The expanded plant is due to open in 2013, with the new jobs beginning right around that time. Job training should begin before then with people moving into the area at that point.

This is GM’s first foray into electric motor cars, and is creating good buzz for the company, which bodes very well for the White Marsh area of Baltimore County!

Chili Winter Days at Boordy Vineyards — this Weekend and Next!

Weekends have gotten a bit more interesting in Baltimore County at Boordy Vineyards.

Each weekend in January, Boordy hosts the “Chili Winter Days” from 1-5 pm, where you can drink Wassail while you tour the winery, and eat chili paired with their red wines if you are of age. Dean & Brown Catering is supplying the three chili choices, and the cost is $12 for adults, $10 for teens, and $5 for children aged 2-12.

Live music is on tap each weekend as well.

February brings “Fond of Your Fondue” weekends complete with marshmallow roasting on an open fire!

So if you are looking for something neat & different to do, then Boordy is the place to be on weekends in Winter.

Boordy Vineyards is located in beautiful Hydes, MD, (also known to many as Kingsville) right on the border of Baltimore County and Harford County. For a map and directions to Boordy, click here, and enjoy a taste of what Baltimore County has to offer!

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