Talk to Annapolis area homebuyers these days and you'll often hear this: I don't want just a deal. I want a steal! Realtors expect this sort of brash talk from seasoned investors, but more and more we're hearing it from young couples, first time homebuyers, grandmothers and other nice people who often trip over the words, like they're reciting a script that's at odds with their deeper desires. This inner conflict is understandable: after all, isn't the nightly news a regular smorgasbord of home sale nightmare stories? Aren't there steals now in every town in America? Maybe - but that's not the point. Shopping only for steals - and overlooking the otherwise good deals - tends to create inner conflict, distort priorties and become a single-minded exercise in the absurd. I know agents wh... 10/28/2008

Alan Greenspan called current conditions a "once in a century credit tsunami".  You can read more about Greenspan's comments in front of the House Oversight Committee on the FOXNews Website. 10/24/2008

Anne Arundel County Saw 388 Homes Sold Last Month. That's Down 14% From Last September. But The Sky Isn't Really Falling Around Us... I've been talking to a lot of you lately. Our entire team has. Each and every day, The Moss Haedrich Team calls 20, 30, 40 or more of you to see how you're feeling about the real estate market, calm your jittery nerves, and ask how we can help. Here's what we're hearing from you... ...nobody is buying anything....nobody can get a mortgage now...homes aren't selling...sellers are giving homes away...homes are taking forever to sell...and, in short, the sky is falling and we're all doomed. Well, we understand the sentiments. The uncertain economy does have everyone on edge and listening to the evening news only amplifies our concerns. But if you look at the... 10/23/2008

The following excerpt, directly from the Metropolitan Regional Information Systems, Inc. web site clearly defines the terms of the above referenced types of listings. Listing agents are putting themselves at grave financial risk by "offering" any type of compensation other than EXACTLY what they are in a position to offer.  Numerous listings use the following terms: (cut directly from MRIS listings) Commision pd on Net Sales Price  (this one offers 3%) Any reduction in commission will be split equally (this one offers 2.5%) Commission is paid on net to seller ie sales price less any buyers closing cost paid by seller on behalf of buyer equals net.  (this one offers 2.5%) COMMISSIONS SUBJECT TO SELLER'S LENDER APPROVAL (this one offers 2.5%) Set by third party approval to be split 50/50 ... 10/15/2008

Buffett Becomes Vulture as HomeServices Seeks Deals (Update2) By Kathleen M. Howley Sept. 2 (Bloomberg) -- Ron Peltier runs HomeServices of America Inc., the second-largest U.S. real estate brokerage, and unlike No. 1 NRT Inc., his company is making money in the worst housing slump since the Great Depression. HomeServices also has a parent, Warren Buffett's Berkshire Hathaway Inc., with $28 billion of cash to help finance the purchase of brokerages that can't weather the housing recession. By contrast, NRT's parent Realogy Corp., owned by Leon Black's Apollo Management LP, has at least $875 million of debt that has an 89 percent chance of defaulting within five years, credit-default swaps tracked by London-based CMA DataVision indicate. Three years of tumbling U.S. home sales and prices... 10/14/2008

Visit my full service web site at www.CallMike.org Most people in the Chesapeake Bay Country are not aware that Champion Realty is the exclusive partner company for Homeservices of America in the Mid-Atlantic region. HomeServices of America is the second largest independent provider of real estate services in the nation. It was formed in 1998 by people with the expertise, experience and dedication to being the best in residential real estate. We had a vision that we could develop an integrated system to provide a seamless delivery of core services to home buyers and sellers. As a result of this commitment, HomeServices now has operations in 19 states doing business under 20 brand names and over 20,000 sales associates operating more than 375 branch offices. In 2001, HomeServices joined ... 10/14/2008

Visit my full service web site at www.CallMike.org Jon Coile, president and chief executive officer of Champion Realty, Inc recently announced that Champion Realty Mortgage, an affiliate of Wells Fargo Home Mortgage and a joint venture with Champion Realty Inc., will receive $125 million of mortgage money each month to loan out for transactions. "There's nobody with good credit, there's no one with mediocre credit that won't get a loan," Mr Coile stated said. Champion Realty is the exclusive partner company for Homeservices of America in the Mid-Atlantic region. HomeServices of America is the second largest independent provider of real estate services in the nation. It was formed in 1998 by people with the expertise, experience and dedication to being the best in residential real estate... 10/14/2008

A very good friend of mine recently sent me a post from his blog were he commented on the rise of support for the idea of 100 year mortgages. On face value it seems a little preposterous, however it does offer the option of allowing people to refinance and stay in homes on which the may be facing foreclosure at much lower payments and at the same time offer a transparent way to expand home ownership. The article my friend sites says that while opponents decry the lack of equity building in such an arrangement, is it any worse than consigning people to rent where they have no chance of equity at all? At least if they had ownership even with a 100 year mortgage, they may have the chance for equity if the market improves in time as it has historically in the past. Perhaps it is an idea who... 10/13/2008

For the sixth month in a row, inventory levels remain above the 4,500 level. In September the number of active units in Anne Arundel County trended down 1.1% and was down 2.0% from last year. The average sold price was $403,687 and was down 8.5% from last year. The pending transaction to active listings ratio was 9.5% up from 9.2% last month. In Anne Arundel County in September the total sold volume was down 3.9% from August. The average sold price in September was up 7.3% from August. The number of homes sold in September was down 10.4% from August. And, the average days on market in September was up 12.4% from last month. There were 388 units sold in Anne Arundel County in September, down from 433 units sold in August. The number of active listings was 4,552 in September, down from 4,... 10/13/2008

Buyers Are Still Willing to Pay More, and Faster, for Something They Perceive to be Special. A Story...  This past summer we listed a home that was very nice indeed. Price: $1,200,000. It went under contract in 19 days, and sold a few weeks later for a price that the owners found quite acceptable. Aside from our usual aggressive marketing, how can we account for such a good offer and fast sale? After all, the home did have a few quirks...some dated features...and wallpaper I wasn't crazy about. But sell it did, and here's why: the home's uniqueness - its overriding special features. In addition to a very private and nicely landscaped yard, the property had its own tennis court, large in-ground pool, and deep water dock just 5 minutes by boat to the Severn River. There were other highlig... 10/08/2008

This will be the first in a series discussing the traditions of Historic Annapolis and explaining the legacy that keeps giving to us all. Historic Annapolis Markers Look for the distinctive Historic Building Markers throughout the downtown area Annapolis has a 350-year architectural history. Thanks to heroic preservation efforts, the entire downtown area was designated a National Historic Landmark in the 1960s. Since 1969 Historic Annapolis Foundation has awarded markers to identify buildings of architectural integrity, encourage restoration and preservation, and educate the public about the city's architectural heritage. Historic Building Marker Brochure Download the Marker Brochures here.Each of the eight marker colors signifies a distinct style and period: Provincial Green17th-Centur... 10/04/2008

Come - Visit - Stay Annapolis & Area:  October  Events   True West Date:     Friday, October 03, 2008 - Saturday, November 08, 2008 Description:            Set in the desert east of Los Angeles, True West is the tale of two brothers: Austin, a "successful" young man with a budding screenwriting career, who comes to house-sit for his mother and to work on a screenplay for a Hollywood producer, and Lee, an alcoholic, thief, and "loser" who has also decided to return home to steal from his mother's neighbors before moving on. Rather than leaving, Lee pitches his own movie idea to the producer, who decides he wants to make Lee's movie instead. Gradually, the two brothers reverse roles. Their tragicomic struggle ends in a stalemate, but along the way this Pulitzer Prize-winning author takes ... 10/03/2008

The S&P/Case-Shiller Home Price Indexes were released on Tuesday, September 30th. According to the data prices the Washington DC metro area fell 15.8% in July 2008 from the same period last year while only falling 1.1% from June 2008. In Anne Arundel County the home price index for July 2008 was down 5.1% from June 2007 but the index was down only 0.1% in July from June. In Annapolis the home-price index was up 1.6% in July 2008 over one year ago and the index was up 1.3% in July over June. Although the Washington DC metro area S&P/Case-Shiller Home Price Index is not yet out for August or September - it's published with a two month lag - the Baltimore metro area index is down 3.2% in August 2008 over the same period last year and down 3.2% in September from this time last year. The Ann... 10/03/2008

The Historic District of Annapolis, MD saw 8 homes go under contract or sell outright during the month of September 2008. From a luxury new construction condo on Main Street (7 STATE CIR #UNIT # 301/302, ANNAPOLIS, MD 21401) listed at $3,700,000 to a 108 year old townhouse (22 FLEET ST, ANNAPOLIS, MD 21401) listed at $509,000 the market for homes in the Historic district continues to be vibrant. Click here for more details on available listings: Historic District 09/30/2008

While summer turns fall without fail, there is no sign of change in the local real estate market. Although outdoor temperatures are not nearly as chilly as sellers think, buyers have rarely enjoyed a better climate. Buyers have the upper hand with little competition, lots of inventory to choose from, and government sponsored incentives to name just a few. In Anne Arundel County in August the total sold volume was down 30.8% from August 2007. The average sold price was down 5.0% from last year. The number of homes sold was 27.1% from last year. The average days on market was up 27.4% from August 2007. There were 433 units sold in Anne Arundel County in August, up from 411 units sold in July. The number of active listings was 4,601 in August, down from 4,699 in July. The number of new lis... 09/16/2008

CLICK HERE FOR MORE INFO131 CHESTER AVEANNAPOLIS, MD 21403 MLS #: AA6872192$495,0004 Bedrooms, 3 Full, 1 Half BathroomsGREAT OPPORTUNITY TO OWN YOUR DREAM HOME! UNDER ROOF AND DRY WALL COMPLETED.Listed by Kathryn ChumneyColdwell Banker Residential Brokerage CLICK HERE FOR MORE INFO322 ADAMS STANNAPOLIS, MD 21403 MLS #: AA6870023$725,0004 Bedrooms, 1 Full, 1 Half BathroomsHistoric Eastport Contemporary home(Circa:1910)great location, built on a big & beautiful lot!!Offers Georgia Pine floors on main level,lots of light, original window/tdoor trim,crown molding,new gourmet kitchen & appliances, Hickory cabinets, new remote contro. gas fireplace, new living room overlooking large lush yard. Show and sell today.Listed by Alice HollanderChampion Realty, Inc. CLICK HERE FOR MORE INFO318 STATE... 09/15/2008

CLICK HERE FOR MORE INFO216 KING GEORGE STANNAPOLIS, MD 21401 MLS #: AA6872654$549,0003 Bedrooms, 1 Full, 0 Half BathroomsThis "hip" downtown home boasts hardwood floors throughout, a state-of-the-art kitchen & bath, a private, professionally landscaped brick courtyard, and a 2nd story balcony with views of the USNA chapel. Custom details and designer touches throughout.Everything is NEW and magazine quality.Quite frankly the easiest street to find parking - anytime -in the historic district.Listed by Carrie MockLong & Foster Real Estate, Inc CLICK HERE FOR MORE INFO131 MARKET STANNAPOLIS, MD 21401 MLS #: AA6869767$629,0003 Bedrooms, 2 Full, 1 Half Bathrooms`Lovely home in the Historic District with very large kitchen; gracious living room with arched doorways leading to separate dining... 09/15/2008

CLICK HERE FOR MORE INFO66 FRANKLIN ST #505ANNAPOLIS, MD 21401 MLS #: AA6822248$1,025,0002 Bedrooms, 2 Full, 1 Half BathroomsScenic view from the 5th floor overlooking the beautiful Murray Hill neighborhood. Southwest exposure allows for lots of natural sunlight. Grand kitchen with large kitchen island. Large den with plenty of closets. Quaint covered balcony to enjoy sunsets. Great condo for second home or primary residence.Listed by Robert LucidoCondo Sales and Marketing Partners LLC CLICK HERE FOR MORE INFO66 FRANKLIN ST #419ANNAPOLIS, MD 21401 MLS #: AA6822290$955,0002 Bedrooms, 2 Full, 1 Half BathroomsThis unique 2 story boutique condominium offers a chance to own a piece of history in the desired historic district of Annapolis. Dramatic 12 foot ceilings and over-sized original win... 09/07/2008

The Hamby Real Estate Group has announced the development and release of a new community oriented web site designed to highlight one community. The first site will focus solely on the Annapolis subdivision of Kingsport of Annapolis. The site located at www.KingsportInfo.com Kingsport of Annapolis is a recently developed neighborhood of approximately 170 single family homes built by Basheer & Edgemoor a Virginia real estate developer.  The homes in the community range in price from $800,000 to over $1,100,000. Michael Hamby, Principal of The Hamby Real Estate Group has developed the page to be community interactive and will feature such pages as: Our Community ---The Board may utilize this page to make announcements or post the minutes if they wish Photo Album ---Submit your photos of co... 09/01/2008

Things are continuing to improve in the Anne Arundel County residential home sales market.  For 2 consecutive months the number of sales has exceeded the number of new listings in the county.  This should begin to have a positive impact on the sales price that homeowners will receive for the sale of their home. August 2008 saw 932 properties go under contract or sell outright at a median price of $339,900 for a total of $408,234,467.  865 properties were newly offered for sale at a median list price of $364,900 for a total of $423,657,356.  Interestingly, in Anne Arundel County the final sales price has been hovering at about 92% of list price.  If you do the math on last months list prices versus last months "solds" the difference is 7%. A sign that the market is stabilzing. On Saturda... 09/01/2008