Kim Farina, regional vice president of Weichert, Realtors, announced that the Bowie office was recognized for outstanding performance in September. The office led the region, which is comprised of offices throughout Montgomery and Prince George counties, as well as surrounding areas in the District of Columbia, for new home dollar volume.
Two years after we last investigated the the foreclosure crisis in the most affluent black county in America, things aren't exactly looking up-except, maybe, for the banks. riving through Prince George's County, Maryland, it's not obvious that its towns and cities are at the epicenter of the foreclosure crisis in the Washington, D.C., region.
Bowie real estate agent Michael Cunningham says he got into the trend of “flipping” houses to help people avoid going into foreclosure. While Prince George's County's notoriously high foreclosure rate has been rising for the past year, a recent spike in home “flipping” trends shows investors are still interested in the area and could help provide a boost to home values and a facelift to vacant properties, real estate experts say.
These sales data recorded by the Maryland Department of Assessments and Taxation were provided by Black Knight Financial Services. For information about other residential real estate transactions, visit www.washingtonpost.com/homesales .
Less than a year after a federal appeals court ruled Freddie Mac is exempt from state and local real estate recordation taxes, the housing finance giant has sued the state of Maryland and Prince George's County for refusing to record a deed on a $58 million property sale if Freddie Mac didn't pay those levies. Freddie Mac filed a lawsuit Dec. 3 against Maryland and Prince George's County finance officials for "illegally" charging it deed transfer and recordation taxes on the 2012 sale of a District Heights apartment building.
Prince George's County homebuyers may be eligible for a reduced mortgage rate and up to $20,000 in down payment assistance under a new initiative to promote home ownership. Homebuyers borrowing through the Maryland Mortgage Program, an initiative of the Maryland Department of Housing and Community Development, or MDHCD, and purchasing a home in Prince George's County may receive a 0.25 percent mortgage rate discount and $10,000 down payment assistance in the form of an interest-free deferred loan.
In an effort to help families find their dream homes, the MMP Triple Play Initiative will provide $100 million for down payments. For over 30 years The Maryland Mortgage Program has administered loans to homebuyers and the new initiative introduced on Nov. 20 will help continue that effort.
This week the Federal Reserve Board said it will be “patient” when it comes to raising interest rates. And rates, while expected to go up, should stay low well into next year, which would bode well for housing markets across the nation next spring, said Keith Gumbinger, vice president of HSH.com , a Riverdale, New Jersey-based rate tracker and publisher of mortgage and consumer loan information.
Janie Lee, right, a residential specialist with John L. Scott Real Estate, shares a laugh in the kitchen of a home for sale to she was showing to her client, Hongbin Wei, of Beijing, China, Thursday, Dec. 18, 2014, in Medina, ... . Janie Lee, right, a residential specialist with John L. Scott Real Estate, shows a home for sale to her client, Hongbin Wei, of Beijing, China, Thursday, Dec. 18, 2014, in Medina, Wash., near Seattle.
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