This Program is designed for First Time Home Buyers or for those who have owned a home but have sold it three years ago or more. The qualified buyer is eligible for up to $7,500 in assistance……. the guidelines are below.

**The home MUST be owner occupied

**Homebuyer Counseling  class IS required

**The minimum contribution from the buyer of their own money is $1000.00

**This is a “soft second” and it gest recorded as a lien on the property.

**There are income limitations that must be met.

**The loan does not need to be repaid provided that the borrower lives in the house for at least five years. Otherwise, it must be paid         in full upon selling or refinancing the home.

**Funds can ONLY be used for down payment and closing costs and must be clearly shown on the HUD-1.

**Eligible properties are owner occupied primary residence single family, townhomes or condos.

**The loan can be used in conjunction with FHA and VA transactions.

**The borrower is allowed to use gift funds from family members.

Looking for more information ? I am happy to help !  Send me an email and I can put you in touch with a competent lender who can help you take advantage to this great opportunity.

Vicki Reyes       Associate Broker/ Realtor at Remax Town Center

301-452-0157      vickiRrealtor@aol.com             vickireyes.com

Boyds and Germantown Agent

Rockville Condo Agent

Mt. Airy Homes Agent

Derwood Homes Agent

Clarksburg Homes Agent

Things are springing forward, it seems. We are starting to see momentum in the housing market and it is a welcome sign.  Though we are still not done with wiping the foreclosures and short sales entirely off of our inventory, the forecast is that they should be winding down towards the end of this year.  If you are looking for a honest agent to list or help you purchase a short sale home, feel free to contact me as I am a CDPE agent. (Certified Distressed Property Agent)

Rockville, MD – (March 10, 2011) – According to data released today by RealEstate Business Intelligence (RBI), an MRIS company, the Washington, DC metro area housing market showed the largest year-over-year increase in pending home sales although housing prices remained weak.

“There was a 33 percent year-over-year increase in the number of contracts signed in February, the largest increase in more than a decade,” says housing market expert and RBI analyst Jonathan Miller. “The number of signed contracts remains 13.7 percent below the ten year average but activity has begun to expand. Unusually restrictive mortgage lending conditions continue to keep housing prices in check.”

With rates still low it’s a great time to think seriously about getting off that fence and find a great house at a great price.

Boyds, Potomac and Germantown Homes  Vicki Reyes

Montgomery County Condos BJ Matson

Mount Airy Homes and Military Relocation Specialist  Sharleen Kutumbris

Clarksburg MD Agent Lisa Sabelhaus

There is a social media overload going on….. Twitter, Facebook, Linked-In, WordPress, Blogger, Foursquare and more. It’s quite overwhelming ! And there are surely more sites in the making as I type this blog…. social media is great, it keeps us tuned into to eachothers’  lives….. but it does not and cannot replace real human contact. I still enjoy picking up the phone and actually speaking to a friend / client to meet for coffee or lunch.   Emails, posts and texts are fantastic… but good old fashioned in your face connection is still necessary and I believe good for us all.

Need help selling or buying that fantastic home in Montgomery County Maryland ? I am here to help you make the best decision you can for yourself and your family.

Vicki Reyes, Associate Broker, GRI

301-452-0157  vickiRrealtor@gmail.com

Remax Town Center

vickireyes.com

Montgomery County Condos , Clarksburg Md agent , Potomac , Darnestown and Boyds Maryland Homes , Mount Airy Homes

The Power of Service

Vicki K. Reyes GRI, Realtor

Remax Town Center

vickiRrealtor@gmail.com    301-452-0157

Montgomery County Condos for sale

Clarksburg Homes for sale

Mount Airy Homes for Sale

What are the experts saying for the upcoming Spring real estate market?  Mr. Lawrence Yun, NAR chief economist, said historically high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.” With interest rates still low and warmer weather not so far around the corner Maryland, DC and Virginia should have a brisk spring housing market.

Happy 2011 and enjoy the househunt !

Vicki Reyes, Associate Broker

Remax Town Center  301-452-0157  vickiRrealtor@gmail.com

Montgomery County Condos for sale

Clarksburg Homes for sale

Mount Airy Homes for Sale

Housing Market Trends

Positive news for the housing market…..Pending home sales rose again in November 2010, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS®.

“All the indicator trends are pointing to a gradual housing recovery,” Yun said. “Home price prospects will vary depending largely upon local job market conditions. The national median home price, however, is expected to remain stable even with a continuing flow of distressed properties coming onto the market, as long as there is a steady demand of financially healthy home buyers. Lawrence Yun is NARs’ (National Association of Realtors) Chief Economist.

Looking for a great home at a great price in Maryland ? I can help !

Vicki Reyes, Associate Broker

Remax Town Center

301-452-0157 cell

vickiRrealtor@aol.com

 Mortgage Interest Deduction :
Individuals are permitted to deduct mortgage interest paid on mortgage debt of up to $1 million. The deduction is available for interest on mortgages for a principal residence and one additional residence. The $1 million limitation represents the combined allowable debt on two residences. Mortgage interest on up to $100,000 of debt on home equity loans or lines of credit also qualifies for the deduction.
As part of its FY ( fiscal year) 2011 budget, the Administration has proposed limiting the value of the MID for upper income taxpayers by, in effect, converting the deduction to a 28% tax credit for those individuals who are currently in the 33% or 35% tax brackets. Individuals with incomes below $250,000 would generally not be directly affected by this proposal.In fact  the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.The removal of MID would have adverse impact on housing values and the pace of economic recovery. And this, Mr. President would be a huge mistake at such a critical time in this nations’ housing market.

Vicki K. Reyes

Remax Town Center, Associate Broker

Licensed in Maryland and Virginia

301-452-0157

Living and Loving Montgomery County, Maryland

vickiRrealtor@gmail.com

You probably won’t hear this on TV but the Washington metropolitan area   just had its’ second busiest housing sales period for 2010.  With rates in the 4′s, seller concessions such as closing help customary and inventory plentiful, well why wait ?  And besides the negative media we also have many first time buyers “waiting it out”.  I’ve heard many people hesitate to buy because  the “ prices are still falling downward”,  or  ”well I heard the rates will go into the 3 percent range”.  All very nice thoughts and ideas, but not probable.  If you are able to save up the money for a down payment  and get approved for a mortgage my question  is “why wait ” ?   Great inventory, low rates, anxious sellers,  the climate couldn’t get any better.  Wish I was buying my current home in this particular market we now find ourselves in.  It IS a great time to buy IF you can so turn off the doom and gloom on your television and get ready to find a great home to live the next chapter of your life in.

Vicki Reyes

Remax Town Center     Associate Broker, GRI

301-452-0157 cell

301-540-2232 office

vickiRrealtor@aol.com

True story, my buyers and I had been searching for 2 months for the perfect condo. One that was not too far north on I270, one that didn’t need too much updating and of course one that was in the popular price range of under $100k.  Well we did indeed find that perfect condo right inside the lovely city of Germantown.  Got the offer accepted by the bank as this was a foreclosure.  The condo association gave me the default rate at time of the contract and it was well within the 15% max guidelines as set by the lender. Three days prior to the closing the underwriter pulls the condo info again, now the deafult rate has climbed since 4 additional people decided to be late or non-payers on their condo fees. This condo now can only be purchased as an all cash deal.  We got the good faith deposit back to my buyers and the hunt is on again, same parameters in what seems to me a malfunctioning pattern in the lending arena.  It’s a vicious cycle: vacant units are not good for current owners nor a condo association that is now out monthly revenue.  Good , solid , eager buyers now cannot buy this unit so it sits vacant awaiting an “Investor” with cash to purchase the unit or hopefully an owner occupant with cash to swipe a super deal. With condo prices so very low  and low interest rates to boot, they make a very attractive purchase for first time homebuyers trapped in the rent cycle. Now what remains is the finding a solution to getting a loan in a condo where the price is right. 

Best Wishes,

Vicki Reyes

GRI, Associate Broker

vickirrealtor@aol.com   301-452-0157    Remax Town Center

Many buyers out there these days are looking for a “good deal” when shopping for a home. Foreclosed homes can often be a way to get that good deal.  Often I find that some buyers still want a foreclosure to have all the bathrooms updated, an attractive kitchen and new carpet or flooring.  What buyers need to remember is that the home is priced well below comparables, enough to allow such updates to be made over time. There is a terrific condo near Old Town Gaithersburg priced at a mere $54900., Despite it having all of the original cabinetry and other fixtures, this home is cheaper to own than it is to rent a similar size unit. Currently there are 35 active foreclosures in Gaithersburg in a wide range of pricing, the lowest is $ 54,900 to $ 724,900.

Rates are still low  and there are some great deals to be made out there… Enjoy the house hunt !

Vicki Reyes, GRI  vickirrealtor@aol.com

GRI, Associate Broker  at  Remax Town Center

301-452-0157