Upper Marlboro MD Homes for Sale and Sold in January 2015

Upper Marlboro MD Homes for Sale and Sold in January 2015

Upper Marlboro  MD Homes for Sale and Sold in January 2015 Upper Marlboro MD Homes for Sale have seen steady price improvement month to month as well as year to year as inventory levels  remain consistent with the season. The Numbers Month to Month and Year to Year The median sales price of  detached Homes in  Upper Marlboro  MD  Homes   for  Sale was  $303,443   in  January 2015 compared to  $323,393   during  January   2014. The median sales price of  townhouses  Upper Marlboro  MD  Homes  for  Sale  was  $221,111 in January 2015  compared to  $158,585   during  January 2014. The median sales price of  condo  Upper Marlboro  MDHomes for  Sale  was  $111,850 in January 2015 compared to  $94,068 during January 2014. The number of  Upper Marlboro, MD  Homes for  Sale  that   sold was  82  in January 2015 vs.59  in  January   2014.  Click to see the full report

Below are highlight properties for Upper Marlboro MD Homes for Sale and Sold in January 2015. See more at the full report:

Highlights Photos Maps & Local Schools

Status: Active 6305 GOLD YARROW LN, UPPER MARLBORO, MD 20772 $$635,000 5 BEDROOMS 4 BATHROOMS [ 4 FULL ] Status: Just Sold 13806 AMBERFIELD CT, UPPER MARLBORO, MD 20772 $$150,000 3 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] Status: In Contract 12303 CHESTERTON DR #88, UPPER MARLBORO, MD 20774 $$125,000 2 BEDROOMS 3 BATHROOMS [ 1 FULL, 2 HALF ]

See the Full Upper Marlboro MD Homes for Sale and Sold in January 2015

Search All Homes For Sale Avoid Foreclosure Homes Close to Where You Work FREE List of HUD Homes for Sale Short Sale Homes For Sale What is Your Home Worth? Keji Ogunleye Fairfax Realty,Inc kejiyourrealtor@gmail.com

Information valid as of February 15, 2015. Please contact us for the most current information and status of these properties.

Fort Washington MD Homes for Sale and Sold in January 2015

Fort Washington MD Homes for Sale and Sold in January 2015

Fort WashingtonMD Homes for Sale and Sold in January 2015 Fort Washington MD Homes for Sale have seen steadyprice improvement month to month as well as year to year as inventory levels remain consistent with the season. The Numbers Month to Month and Year to Year The median sales price ofdetached Homes in Fort Washington MDHomes  for Sale was $254,768 inJanuary 2015 compared to $258,661 duringJanuary 2014. The median sales price of townhouses Fort Washington MDHomes  for  Sale was $237,450 in January 2015 compared to $124,933 during January 2014. The median sales price of condo Fort Washington MDHomes for Sale was $111,500 in January 2015 compared to  $70,000 during January 2014. The number ofFort ...  Click to see the full report

Below are highlight properties for Fort Washington MD Homes for Sale and Sold in January 2015. See more at the full report:

Highlights Photos Maps & Local Schools

Status: Active 12808 LOST LAKE CIR, FORT WASHINGTON, MD 20744 $$274,900 4 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] Status: Just Sold 6110 KILDARE CT, FORT WASHINGTON, MD 20744 $$189,900 3 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] Status: In Contract 533 RED COAT PL, FORT WASHINGTON, MD 20744 $$119,900 3 BEDROOMS 2 BATHROOMS [ 1 FULL, 1 HALF ]

See the Full Fort Washington MD Homes for Sale and Sold in January 2015

Search All Homes For Sale Avoid Foreclosure Homes Close to Where You Work FREE List of HUD Homes for Sale Short Sale Homes For Sale What is Your Home Worth? Keji Ogunleye Fairfax Realty,Inc kejiyourrealtor@gmail.com

Information valid as of February 15, 2015. Please contact us for the most current information and status of these properties.

Kettering MD Homes for Sale and Sold in January 2015

Kettering MD Homes for Sale and Sold in January 2015

KetteringMD Homes for Sale and Sold in January 2015 KetteringMD Homes for Sale have seen steadyprice improvement month to month as well as year to year as inventory levels remain consistent with the season. The Numbers Month to Month and Year to Year The median sales price of detached Homes in Kettering MD Homes  for Sale was $279,966 in January 2015 compared to $273,300 during January 2014. The median sales price of townhouses Kettering MD Homes  for  Sale was$ 203,958 inJanuary 2015 compared to $207,200 during January 2014. The median sales price of condo Kettering MD  Homes forSale  was $162,468 inJanuary 2015 compared to $123,300 during January 2014. The number of Kettering, MDHomes for Sale that sold was 3 in January 2015 vs.3 inJanuary 2014. There are 7 Kettering, MD Homesfor Sale that ...  Click to see the full report

Below are highlight properties for Kettering MD Homes for Sale and Sold in January 2015. See more at the full report:

Highlights Photos Maps & Local Schools

Status: Active 206 WEYMOUTH ST, UPPER MARLBORO, MD 20774 $$300,000 5 BEDROOMS 5 BATHROOMS [ 4 FULL, 1 HALF ] Status: In Contract 142 OLD ENTERPRISE RD #128, UPPER MARLBORO, MD 20774 $$109,000 2 BEDROOMS 3 BATHROOMS [ 1 FULL, 2 HALF ]

See the Full Kettering MD Homes for Sale and Sold in January 2015

Search All Homes For Sale Avoid Foreclosure Homes Close to Where You Work FREE List of HUD Homes for Sale Short Sale Homes For Sale What is Your Home Worth? Keji Ogunleye Fairfax Realty,Inc kejiyourrealtor@gmail.com

Information valid as of February 16, 2015. Please contact us for the most current information and status of these properties.

Frequently Asked Questions about Short Sale And Avoiding Foreclosure

Frequently Asked  Questions about  Short Sale  

And Avoiding Foreclosure

Call Keji @ 301-613-2043 to get complementary evaluation for Free

What Is Notice Of Default?

A notice of default is a notification given to a borrower stating that he or she has not made their payments by the predetermined deadline, or is otherwise in default on the mortgage contract. Other ways a borrower may be in default include not providing proper insurance coverage for the property, or not paying due property taxes as agreed.

Lenders file in the public records where the property is located a public notice called the Notice of Default. It dictates that if the money owed (plus an additional legal fee), or other breach(es) are not paid/remedied in a given time, the lender may choose to foreclose the borrower's property. Any other people who may be affected by the foreclosure may also receive a copy of the notification.

What Is Deficiency Judgment?

Deficiency judgment are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures, when a home's selling price is not enough to cover the loan balance or A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full.

When you are short on a loan and the lender repossesses your residence, the value of the property may not pay off the loan. For example, you might owe $200,000 on your house, but it only sells  for $180,000. You're $20,000 short.  Because the lending company wants all of the cash returning, they may take further lawsuit against you. Legal action to gather the staying quantity is known as a deficiency judgement.

The deficiency judgement in the example above is $20,000.

What Is Short Sale In Real Estate?

A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens (creditor) full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.

A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower.

How Does A Short Sale Work?

A short sale happens when a borrower sells their property for less than what is owed on the mortgage. In order to be eligible for a short sale the homeowner must be able to demonstrate a financial hardship that is causing the mortgage to be unaffordable.

For example, if your outstanding mortgage debt is $500,000 and the property is now only worth $250,000, this mortgage is considered to be “underwater.” If you are looking to sell your property for less than your outstanding balance, you will have to supply all of your financial information to your lender so they can determine whether or not they want to sign off and settle the debt for less than the amount owed.

Obviously a short sale is not the best solution for a homeowner or the lender. No one wants to have to sell their home for less than what they owe, especially those who have been working hard for years to build up equity. However, this option is much better than allowing the property to go into foreclosure. A foreclosure will completely destroy your credit rating and will remain on your credit property for up to seven years. For most people a foreclosure will make financing extremely difficult

How Long Will A Short Sale Take?

Lots of times people think a short sale will be a short process . . . The reality is it's a very lengthy process. The process can take anywhere from two to six or seven months. But this timelines can be very different from one lender to the next, and even when working with the same lender from one property to the next.

Differences between Short Sale and Foreclosure

	Short sale	Foreclosure
1.	The lender that holds the mortgage must sign off on the decision to execute a short sale.	foreclosures are initiated by lenders only
2.	The lender, typically a bank, needs documentation that explains why a short sale makes sense	The lender moves against delinquent borrowers to force the sale of a home.
3.	Short sales tend to be lengthy and paperwork-intensive transactions, sometimes taking up to a full year to process	Foreclosures take place when the homeowner has abandoned the home. If the occupants have not yet left the home, they are evicted by the lender in the foreclosure process.
4.	A homeowner who has gone through a short sale may, with certain restrictions, be eligible to purchase another home immediately.	Homeowners who experience foreclosure need to wait a minimum of five years to purchase another home. The foreclosure is kept on a person's credit report for seven years.

What Is A Short Sale Hardship Letter?

A hardship letter is a letter that you write to your lender explaining why you are behind on your mortgage payments. The letter should give the lender a clear picture of your current financial situation and explain the circumstances that have led to your financial difficulties.

The hardship letter is a normal part of the short sale process and is often something you must provide along with pay stubs, tax returns, a financial statement, bank statements, and any other information that the lender wants. Some lenders prefer that you fill out their hardship form or a hardship statement instead of writing a letter, so check with your lender first before preparing a letter

Short Sale Tax Implication

If a short sale results in a deficiency, but the lender decides not to come after you for payment and forgives the debt, this means you are no longer under an obligation to repay the lender. The lender is then usually required to report the amount of the cancelled debt to you and the IRS (Internal Revenue Service) on a Form 1099-C. If this occurs, you may have to include the forgiven amount as income for tax purposes.

Example. As in the example above, let’s say you complete a short sale by selling your property for $250,000, but you owe the lender $500,000. The deficiency is $250,000. If the lender decides not to try to obtain a deficiency judgment and issues a 1099-C instead, then you have received a cancellation of debt in the amount of $250,000. This is generally considered taxable income to you.

In some states, the Notice of Default is also attached to the home, generally on the front window, like a big scarlet letter. It states that the borrower is in default, behind in the mortgage payments, and if the payments are not paid up, the lender will seize the home.

Please consult with Accountant to discuss further on tax implication of short sale.

The real estate market in Bowie ,Upper Marlboro and Fort Washington is still experiencing  negative equity and as result homeowners are unable to refinance to lower interest rate, unable to sell because there is no equity and many are faced with the difficult hardship of keeping their house or letting go. There are many solutions to assist homeowners to avoid the credit damaging foreclosure process. It is very important that homeowners reach out quickly at the first sign of trouble.

- Don't ignore the letters from the lender

- Don't know the phone calls

STOP NOW and call 301-613-2043 to get help with avoiding foreclosure or explore other options available. Use our quick and Easy form to request complementary consultation about avoiding foreclosure or learn more how short sale can help.

Short sale can provide a fresh start for struggling homeowners , a way to press the reset button.

Keji & Associates of Fair fax  Realty is a team of licensed agents working daily to get homes sold for our clients in Bowie,UpperMarlboro, Fort Washington and other parts of the metro area. We delight our clients by delivering  world class service every step of the way and we strive to create a win-win situation this  is all part of our values and beliefs. Contact us @ 301-613-2043 , email keji@metrohomesrealty.com or visit our website . www.metrohomesrealty.com

House Selling Tips. Do you need pictures online to sell your house?

House Selling Tips. Do you need pictures online to sell your house?

The old proverb that a picture is worth a thousand words definitely applies to selling a house. These days when potential buyers look for a new home, they often start with their computer. By searching online, looking at pictures of various houses, they get an idea of what is available. They use the pictures to identify the specifics they like best about a house. The web search may also connect the buyer to the Realtor posting the most attractive pictures.  From the real estate photos online many buyers determine if they are going to view a house or not, many times the pictures online will be use to eliminate homes.


This method of shopping for a new home saves time, energy and money for all the parties involved. At least a house for sale should have minimum of 20 pictures online. The front picture of the house are  generally   taken from a long-view and show the front of the house and its lot. This picture reveals the basic information about the house and shows several things at once: the number and placement of the levels of the house, the type of architecture, the roof layout and the overall condition of the house. Additional layout information may also be gleaned from the position of the front door, a driveway and possibly a garage. Looking at this photograph, a buyer can see quickly whether  is interested in this house. 

Just one picture of a house, however, is not enough. A buyer also wants to know what is inside the house. When they are available, photos can provide a preliminary "walk through" of the rooms of the house before actually visiting the house. They can show the actual living areas and a general sense of the layout. These can reveal approximate room sizes, hallways, window placements, stairways, dropped floors, ceiling heights and other design features of the house. Looking at a photo, a buyer might determine if the house is appropriate for children or persons with disabilities. They can note if the decor is current or outdated and see the condition of walls, ceilings and floors. 

Some of the more important areas in the house need photos to help the sale. In the kitchen, for instance, pictures disclose the general condition and age of appliances, the amount of cabinet space, sink sizes and overall working  area. Buyers like to see pictures of the bedrooms to get an idea of the size and shape and any unusual features. Pictures of a large master bedroom with a walk-in closet and an in-suite bathroom can often clinch a sale. 

Shots of the back and side yard areas should indicate to the buyer some idea of the size of the yard and any extras, such as a pool, a patio, a bar-b-cue area or children's play area.



What do you think of this picture? This is the only picture provided for this property and the description stated it was completely renovated, but only one picture?

How about these pictures? Will buyer be excited to see this house?

The importance of pictures to sell a house cannot be overstated. Online photographs used in marketing are the starting point to draw clients. When used to define specific wants and needs of the buyer, they accelerate the shopping process.  A seller should not  underestimate the power of good pictures to market house and to get it sold fast.

Other Resources to use when getting your house ready to sell

  Adding Value to your house within budget

  How to stage a house

 Get list of homes recently sold in your neighborhood

 Staging techniques for quick sale

Search for homes for sale in your neighborhood to see how they are priced and staged. 

Keji & Associates of Fairfax Realty is a team of licensed agents working daily to get homes sold  for our clients in Bowie, Upper Marlboro, Fort Washington and other parts of the metro area. We delight our clients by delivering  world class service every step of the way and we strive to create a win-win situation this  is all part of our values and beliefs. 

Contact us @ 301-613-2043, email keji@metrohomesrealty.com or visit our website www.metrohomesrealty.com

Keji Ogunleye , Associate Broker - Licensed in Maryland & Virginia, Fairfax Realty, Inc

301-613-2043, keji@metrohomesrealty.com