Solo Cup Closing in Owings Mills

Solo Cup is closing its’ Owings Mills plant, laying off 540 people by the middle of 2012.

There will still be about 120 corporate jobs located in Owings Mills, but if the sale of the plant happens like Solo would like it to, those jobs would be moved to elsewhere in the Baltimore area.

540 jobs lost in Baltimore County is a tremendous amount, and this does not bode well for Owings Mills neighborhoods, unless a large manufacturer moves in to the Solo Cup space and brings an ample number of new jobs with it!

The Baltimore Business Journal reported on this, also stating that it plans to close plants in Missouri and Massachusetts as well, eliminating a total of 1,240 jobs.

Over the next two years, this could have a significantly negative impact in Owings Mills house prices because if people are not employed and cannot make payments, this leads to short sales and foreclosures.

Hopefully something new will come in to help Owings Mills homeowners. Right now residents have to wait and see.

$8,000 Tax Credit Can Be Used for Downpayment for Baltimore Homebuyers

**Update May 14, 2009, please see my update that HUD has retracted its statement and that this may NOT be the case everywhere.**

The Secretary of the U.S. Department of Housing and Urban Development announced at the National Association of Realtors summit today that the FHA is going to allow lenders to let First Time Homebuyers use the $8000 tax credit currently in place as a downpayment rather than having to wait until they file their tax returns.

Secretary Donovan stated: “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment.”

On the heels of the Fannie Mae & Freddie Mac 105% Refinance Plus Program announced last month, this is a great indication of how the Obama Administration is working hard to stabilize the housing market and the economy in general.

More details will be forthcoming, and until then, the details can be found here.

So, what are you waiting for, Baltimore Homebuyers? THE TIME TO BUY IS NOW! Don’t miss your chance!

The Most Wonderful Time…Of the Year

So as you get to know me, you find out my obsession with this little purple and black team called the Baltimore Ravens.

My fall & winter schedule literally is based around the home Ravens games. I have missed only 9 home games since the team arrived in Baltimore in 1996, mostly due to illness or unchangeable travel plans. (Those darned weddings, don’t people KNOW about MY schedule? )

So right now I am pumped. WHY? It’s TRAINING CAMP TIME! I am a founding member of the Lavender Ladies, a group of football obsessed women who could rival most men in terms of knowledge and understanding of the game. This is a group founded by the Baltimore Ravens organization. The group began as RAVENS 101 — for women to learn about football. What they found was we knew plenty — we just needed an outlet & fun times and to be surrounded with other women who thirsted for more FOOTBALL!

So, again, the pumped-ness. Next Monday is a flag football tournament with the other “ladies” (yes, the quotes is because I use that term very loosely — “ladies” most of us aren’t) at training camp! This will surely be a blast & I can’t wait to play!

Next week look for my follow up to the flag football tourney. Should be interesting!