1210 Maple Leaf Ct — Hunt Valley Station

*UPDATE: Withdrawn from the market 12/17/11*

1210 Maple Leaf Ct is a four bedroom single family home in Hunters Run.

1210 Mapleleaf Court is a Ryland built Colonial in Hunt Valley Station, and is on the market for $485,000. According to the public records, it has 2,064 square feet on the first two levels. It has hardwood floors throughout the first floor, including the kitchen.

Located on a cul de sac, off of another dead end street, there is no through traffic! I actually sold their neighbor’s house at 1212 Maple Leaf Ct in 2009!

Currently, there are three other Hunt Valley Station single family homes for sale at 11513 Hunters Run Drive, (which recently settled), 1110 Walnut Wood Drive, which also recently settled, and 11615 Silvermaple Court for $524,000, now sold/settled as well. Multiple homes in Hunters Run have sold in the past year, and a competitive market analysis can be run to show true value. The styles & builders vary, so there are many details that go into figuring value on these homes.

Contact me for more information on 1210 Maple Leaf Ct and Hunters Run homes. I know the community well!

Home Listing courtesy of Yerman, Witman, Gaines & Conklin.

1110 Walnutwood Drive – Hunters Run

1110 Walnutwood Drive is a beautiful Hunters Run house, and is on the market for $619,900. **UPDATE 7/26/11: SOLD!**

Located at the corner of Silvermaple, it has a convenient location & beautifully landscaped yard!

This is a Ryland “Calvert” model, the largest the builder built in the Hunters Run community.

Gleaming hardwood floors are showcased on the first floor, including the two story great room!

The owners have completely redone the kitchen, knocking out a wall and adding granite counters & beautiful cabinetry. This leads to the laundry room the garage.

The powder room right off the kitchen is nicely designed and tastefully done as well. The lower level has been finished with a bedroom and full bath, plus a recreation room!

Upstairs has been redone as well — the master bath has beautifully done tile work and marble.

This is a spectacular Hunt Valley Station house. Currently there are three other single family homes on the market in the Hunters Run neighborhood at 11513 Hunters Run Drive for $530,000, 1210 Maple Leaf Ct for $505,000, and 11615 Silvermaple Ct for $524,000.

For more information on 1110 Walnut Wood Drive or other Hunters Run houses, contact me. I know the neighborhood well!

Listing courtesy of Long & Foster Real Estate, Inc.

First Time Buyer $7500 Grant Federal Home Loan Bank is Back!

Federal Home Loan Bank’s $7,500 First Time Buyer Grant is back for many qualifying individuals.

Brian Picker, one of my mortgage partners from 1st Mariner Mortgage, announced the return of the program and his company’s involvement in it.

Here are particulars on the grant qualifications from the information he sent over to me:

Details:

•            First Time Buyers Only (cannot have owned a home in the last 3 years)

•            Income Restricted to 80% of the area Median Income, based on Family size

-            All occupants over 18, income considered. Example – (1 person = $45,000 2 person = $52,000, etc.)

•            5 for 1 Matching Funds – UP TO $7500 Grant.

-            Buyer would need $1500.00 in the deal to get maximum allowed $7500.00.

*   Forgivable Grant over 5 years – pre-closing housing counseling required.

*   Funds CAN BE USED as Down payment requirements – for F.H.A. Loans

If you have been considering buying your first home in Towson or anywhere in the Baltimore real estate area, contact me, and Brian & I can help you figure out if this program will work for you!

11513 Hunters Run Drive – Hunt Valley Station

11513 Hunters Run Drive is a four bedroom single family home in Hunters Run. *SOLD 8/15/11*

11513 Hunters Run Dr is a Faust-built Hunt Valley Station home with, according to the public record, 2,782 sq ft on the first two levels. It is listed for sale for $530,000.

The walk-out lower level has been finished with a fifth bedroom, full bath, and kitchenette.

This Hunters Run home has a fenced backyard, which is very unusual for the neighborhood. It has a nice, large deck off the kitchen as well with steps down to the fenced backyard.

Currently there are three other Hunt Valley Station single family homes for sale, one at 1210 Maple Leaf Court, listed for $505,000, another at 1110 Walnut Wood Drive for $619,900 (now under contract), and the third at 11615 Silver Maple Ct for $535,000.

Contact me for more information on 11513 Hunters Run Drive and other Hunt Valley Station homes. I know the neighborhood very well!

Listing Courtesy of Long & Foster Real Estate, Inc.

8 Wineleaf Ct – Hunters Run

8 Wineleaf Ct is a four bedroom single family home in Hunters Run. **UPDATE: SOLD 4/29/11**

8 Winleaf Court is a Ryland built Colonial in Hunt Valley Station, and is on the market for $555,000. According to the public records, it has 2,962 square feet on the first two levels. The walk-out lower level is finished with a full bath and partial kitchen!

Located on a cul de sac, there are only 8 houses on the street. I actually co-listed and sold their neighbor’s house in 2005!

Currently, there are two other Hunt Valley Station single family homes for sale at 11513 Hunters Run Drive, on the market for $550,000, and 1110 Walnut Wood Drive for $639,900. Multiple homes in Hunters Run have sold in the past year, and a competitive market analysis can be run to show true value. The styles & builders vary, so there are many details that go into figuring value on these homes.

Contact me for more information on 8 Wineleaf Ct and Hunters Run homes. I know the community well!

Home Listing courtesy of D&D Real Estate and Development

Computerized Appraisal Problems

Computerized appraisals have been an issue for awhile, but recently, they have become a problem for a much larger group of people.

Appraisals done by people in general are both objective and subjective, which means that often if you had two professional appraisers come to your house, you would likely get two different price opinions, if they did not have a target price to go from.

Computerized appraisals are just that. It uses transactional data information but does not take updates and other ancillary details into consideration. According to the Wall Street Journal article by M.P. McQueen,

Automated valuation models were pioneered by Yale economist Robert Shiller, who developed the first systems in the early 1990s. While arguing that these appraisals are more objective than human appraisers, Mr. Shiller and others say that in some situations the models may be providing unrealistically low values, prompting lenders to reject loan applications or lend less money on particular properties.

I have to question as to whether the data is similar to those used by Zillow Zestimates to find value. Baltimore County Zillow Zestimates have been well off in many situations, and the disclaimers on their site are many. Their CEO & CFO explained their data issues to me, and I discussed them in my post about misleading Towson Zestimates.

If owners have tax credits or have lived in the property for a long time, that can easily skew results, creating an incorrectly low “appraisal” or Zestimate.

So, if you are looking to refinance your Baltimore County home, be aware of computerized appraisals.

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!

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.

FHA Condo Recertification Due December 7, 2010

With the many changes in the mortgage industry, it is hard to keep up with what deadlines are coming up next.

On December 7, 2010, the FHA condo recertification process must be completed by each individual condominium complex in order to be eligible for homebuyers to receive FHA financing in their building.

There is an application and process that must be completed in full for the building’s recertification to have the opportunity to be approved. Thank you to Dan Plunkett, of Prosperity Mortgage, a part of the Wells Fargo Home Mortgage company for sharing the two forms they must use to submit for approval.

One is the FHA New Condo Approval Process for condos that have never been approved for FHA financing in the past. These would usually be newly built units.

The other is the FHA Recertification Project Submission Form for developments that were approved before and need to go through the certification process again, which would be most condominiums.

The good news for most Timonium condo owners, most of the ones in the area have already been recertified. I wrote about the updated Timonium condo approvals in August, and even more have been added to the HUD site since.

During these confusing times, it is best to have an agent and a mortgage specialist who understand the muddy waters. Contact me if you are considering selling or buying a Timonium condo. My team of professionals can help!

*Since writing this, HUD & FHA have extended the FHA condo recertification deadlines. Here is more information about the FHA condo recertification deadline extensions.*

Hunt Valley Station Update September 2010

Hunt Valley Station single family homes have updates in September, with only one active single family home currently on the market.

Two homes are under contract, 8 Timberwood Court, listed for $569,850, which went under contract recently and is due to settle next week, and 1210 Maple Leaf Ct, listed for $525,000, which went under contract at the end of August, and is due to settle September 30.

The active home on the market is 13 Ringleaf Ct, a 5 bedroom home listed for $569,000.

Three single family homes have settled since June, two of which were 5 bedroom homes, one of them a 4 bedroom model.

For more information on Hunt Valley Station homes, please contact me. I know the neighborhood well!

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