Laurel, MD Real Estate News

By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
    2008    2007    % Change Total Sold Dollar Volume: $ 9,973,800 $ 9,117,041 9.40 % Average Sold Price: $ 269,562 $ 325,609 - 17.21 % Median Sold Price: $ 250,000 $ 306,500 - 18.43 % Total Units Sold: 37 28 32.14 % Average Days on Market: 132 88 50.00 % Average List Price for Solds: $ 296,397 $ 339,786 - 12.77 % Avg Sale Price as apercentage of Avg List Price: 90.95 % 95.83 %   The above statistics are a comparison of sales in Laurel real estate from last September and this September in zip code 20707.   As you can see, the average sold price from last year to this year has dropped over $56,000, just over 17%.  The median price of homes from last year to this year has dropped just over $56,000 as well.  Those trends reflect pretty much what is happening in most of Maryland real estat...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Well those of us who purchased Laurel real estate are a little disappointed this morning.  The Washington Redskins, after winning two tough games on the road, lost yesterday at FedEx Field.  The Redskins lost to a team, the St. Louis Rams, who had not won a game all season. The Redskins lost three fumbles in the first half.  One of those fumbles was returned for a touchdown by St. Louis. The Redskins also dropped two sure interceptions in their hands.  The Redskins are now 4-2, which is still pretty good. I am not sure how this will effect home values in Laurel MD. The Redskins good season has sent some positives to us here in Laurel.  A good football team probably helps a neighborhood property values. I have no scientific facts to back that up, but I just feel that may be true. For mor...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
As some of you know, the Bank Of America has reached a settlement regarding action taken against them in several states.   This action  will not only have an impact on people who purchase Laurel real estate, but anyone who buys Maryland real estate. The settlement stems from the numerous Countrywide home loans that are headed to foreclosure.  Several states filed suits against the new owner of Countrywide, Bank of America.  This action has lead to a settlement that could effect the whole country. In the agreement, Bank of America will be very aggressive in helping owners keep their homes.  The remedies include lowering the total loan amount to what a property would sell for today.  For example; if you bought your home for $400,000 two years ago and now it is only worth $270,000, Bank of...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Boy!  Those people who purchase Laurel real estate really love to help various charities!   Bethany Community Church located at 15720 Riding Stable Rd, Laurel MD will hold a Mini-Walk to benefit the Laurel Advocacy and Referral Service (LARS) on October 12.  The event begins at noon in the church parking lot.  Registration is at 11:30 and the cost is $15 for anyone under the age of 25 and $25 for all other adults.  The mini-walk is one mile long. This program, along with others in the area, has as its mission to prevent and eradicate homelessness.  So come on out, help the homeless and meet some of the great people of Laurel MD.  As always, to learn more about Maryland real estate visit my web site www.mymarylandcastle.com
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
BankofAmerica's new plan to reduce mortgages and lower interest rates on owners facing foreclosure could have a significant impact on Laurel real estate.  Apparently, BankofAmerica has agreed to make significant efforts to help people keep their homes.  BankofAmerica is the lender who bought Countrywide Home Loans.  The help is for people who used Countrywide to obtain a mortgage before December 2007.  The remedies include reducing the amount of the owners mortgage who are on the brink of foreclosure.   Lets say you bought a home for $400,000 and now it is worth $300,000.  BankofAmerica may reduce your loan amount to $300,000 and possibly reduce your interest rate to a payment you can afford. Now don't quote me on any of this.  Obviously, you need to contact BankofAmerica for any of the...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
One of the most dangerous things you can do when buying or selling Laurel real estate is to not have an agent.  In fact, anytime you buy or sell any Maryland real estate you need an agent. Lets' start with the buyers' side first.  I can not tell you how many times I have worked with buyers who were about to end up paying thousands of extra dollars on a mortgage because of predatory lending.  Many first time home buyers have no idea about first time home buyer programs.  These pragrams are run by federal, state or local government to encourage home buying.  These programs are safe and make home buying more affordable.  The current economic mess is some indication of uninformed buyers.  Most buyers are at a disadvantage when dealing with a seller.  The seller is an experienced home buyer ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
If you purchase Laurel real estate or any Maryland real estate, your new neighborhood has to have its own newsletter.  My neighborhood in Laurel Md. has its own newsletter called HOTLINE, The Neigborhood Newsletter Of West Laurel. Hotline has a President's Message, important dates relevant to the community, and recent home sales in West Laurel Md.  In addition, there is a section welcoming new members to the community.  This year West Laurel Md welcomed 16 new famalies. Another section of Hotline deals with any new developments in or around West Laurel.  So the community has an update on what is being planned or built in or around the area.  For example, we have a new home community being built down the street from me.  The prices for these new homes have become much more affordable ove...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
How about those Washington Redskins?  They make anyone buying Laurel real estate very happy.  I think the judgement is in.....the Redskins are a good team.  The Redskins go into Dallas and knock-off an undefeated team.  Then, the next week, they go into Philadelphia and beat a very good divisioin rival.  The Washington Redskins are 4-1!  It is so exciting around here in Laurel Md.  Yesterday before the game I was picking up groceries at the Burtonsville Md Giant.  As many of you know, Giant Food is Redskin territory.  Many of the staff had on Redskin jerseys.  Also many of the shoppers had on Redskin jerseys.  You could feel the excitment in the air.  Laurel Md has something to be excited about this football season. As always, visit my web site for more information about Laurel Md.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Recently, a woman who was interested in purchasing Laurel real estate, gave me a call.  She was in the market to do buy something immediatley.   She said she was already approved to buy a home in the 250K range.  She admitted she backed out of a deal previously because she did not like the terms her lender gave her on the purchase. I began to ask her questions about exactly what she didn't like about the lender's terms.  I discoverd the lender wanted my new buyer to pay $70,000 out of her bank account to qualify for the property and to get the interest rate she wanted.  The buyer did not understand why she needed to pay so much money with the income she had.  She was willing to make a down payment of $40,000, but not $70,000. After listening to the buyer, I decided I needed to call the ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel real estate is home to several private schools.  St. Vincent Pallotti, located at 113 St. Mary's Place in Laurel Md, is approxiametly 87 years old.  First started in 1921 as St. Mildreds' Academy, the student population has grown from 23 students to over 500 students today.  The school has been renovated several times through the years with the most recent being in 2001. The 2001 expansion was the most ambitious adding 47,000 square feet to the campus and bringing Pallotti into the modern era.  The expansion added administrative offices, a state of the art media center, a two basketball court gym and other additions as well. You can find more facts and information at the school's web site.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Laurel real estate keeps impoving.  According to the Gazette, several Laurel Md roads will be resurfaced as part of an overall plan to improve the city roads.    The article stated Alan Drive, Carissa Lane, Eighth St, Kalmia Dr., Laurel Oaks La., Laurelton Dr., and 10th St.  will all be resurfaced before December of 2008. Other roads will be resurfaced as well at a later date.  These first roads were picked because WSSC must dig up other streets to repair broken pipes.  The article also mentioned the cost is expected to be under budget for what the city of Laurel Md had planned. As always, feel free to visit my web site at www.mymarylandcastle.com
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Want a nice view of Laurel real estate and get some exercise at the same time?  The Laurel Md Riverfest 5K Run/2 Mile Walk will be held October 11 2008.  The race starts and finishes at Riverfront Park in Laurel Md on Avondale St. just off of Main St.  The race is also sponsored by First Generation College Bound. What is great about this race, is they offer prizes in various catagories.  Some prizes are based on age for the over forty crowd and ofcourse seperate prizes per gender.  This race would also be a good tune-up for the Turkey Trot on Thanksgiving.  The Turkey Trot will also be held in Laurel Md at the First United Methodist Church on Main St. I hope to see you at Riverfest. As always, visit my web site to learn more about Laurel Md.
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
When I purchased my first Laurel real estate over ten years ago, I had no idea if my neighbors shared my passion for the Washington Redskins football team.  I use to live in Montgomery County Md and that was Redskin country.  When I moved to Laurel Md, I knew I was a little bit closer to Baltimore Md, the home of the NFL Baltimore Ravens.  In fact, I was now only thirty minutes from the Ravens new stadium. What I have discovered is that most of my neighbors are Redskin fans.  Yes, there are some Raven fans here as well.  There are more Ravens fans here than in my previous residence in Montgomery County Md.  It appears that Laurel Md is mostly Washington Redskin turf.  The Baltimore Ravens are a good football team and have one a Super Bowl more recently than the Redskins.  It looks like ...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
LAUREL FIXER UPPER HOMES IN LAUREL MARYLAND CAN HELP HOME BUYERS SAVE WHEN YOU BUY AND REALIZE VALUE IN YOUR NEWLY PURCHASED WHEN THE UPGRADES OF YOUR CHOICE ARE ADDED.  The best part of a Home Purchase and Renovation loan is that you can buy your home and finance the improvements, all in one mortgage payment.  For more information about Home Improvement Purchase and Renovation Loans, visit Homefinders Fixer Upper Series for MD and VA. Laurel, Marylandis a friendly town in the area where northern Prince George's County, Anne Arundel County and Howard County meet.  Laurel has a home style and type for everyone.  Laurel also has some wonderful Victorian style homes that make wonderful properties for FHA 203(k) or Conventional Purchase and Renovation Financing.  Laurel real estate is price...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Just wanted to get that out there.  I have lived in Maryland all my life and been a Washington Redskins fan that entire time.  Its true my dad influenced me at a very young age, but I am glad he did.  I have been watching the Redskins football team since Otto Graham was the coach way back in the 1960s.  They were not very good back then, but still fun to watch.  Things got real exciting a few years later when Vince Lombardi became the coach.  Lombardi was the legendary Green Bay Packers coach who won the first two Super Bowls.  In Fact, the Super Bowl trophy is named after him. Unfortunatley, Vince Lombardi died of cancer after leading the Redskins to a 7-5-2 record.  After that, the Redskin coach was Bill Austion for one year and then it got real exciting. George Allen, "The future is ...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Not Not only are people who buy Laurel real estate smart, but they are also athletic.  The Laurel Advocacy and Referral Services (LARS) is getting ready for its annual Turkey Trot by having a T-Shirt Design contest.  LARS is looking for original artwork that would feature a turkey, crab and a race that would fit on a T-shirt. The turkey would represent Thanksgiving.  The crab would represent the race's Platinum sponser, Casey's Crab Company.  The Turkey Trot is a 5K run/1K walk that is held every year in Laurel Md, usually on Thanksgiving morning. The winning entries will be put on over 400 T-shirts and distributed the morning of the race.  All entries should be dropped off at or mailed to LARS at 311 Laurel Ave., Laurel Md.  20707.  All submissions should say, "Attention Turkey Trot" a...
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By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
Is this really a financial crises?  Or is this all over blown? The papers and the federal government are screaming, "the sky is falling" and we must act fast to prevent a depression.  All news media are talking about how this will effect the market.  I keep hearing about any new direction the market is taking....sometimes on the hour. I am just not sure I believe any of this stuff.  The market and our economy has survived numeorous catastrophic events.  The government has bailed out numerous businesses in the past.  Remember Chrysler?  If things are so bad, why is BankofAmerica buying everything in sight?  Where did they get the money to do that?  Nineteen days after 9/11, the stock market was higher than it was before the attacks.  While some airlines were trying to stay in business, S...
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By Ken Montville, The MD Suburbs of DC
(RE/MAX United Real Estate)
I've been writing recently about a townhouse I had listed in Laurel that had run into a few, er, challenges along the way. There was the friend of the Sellers who had agreed to do some contracting work on the Sellers house to get it ready for sale.  It involved tearing up the old (really old) carpet and installing a bamboo laminate. It involved some painting and dry wall work.  The real challenge with this arrangement was that the friend was not a professional contractor.  He had another real day job doing something completely different.  This was just something he was doing as a favor to his friend. That took about three months.  Time the house could have been on the market had the Sellers shelled out some cash to a pro to just rip up the old carpet and put down some new and get a hand...
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By Ken Montville, The MD Suburbs of DC
(RE/MAX United Real Estate)
In a recent post about Counting Chickens Before They're Hatched, I mentioned that I feeling pretty good about things until the inspection came along and had a lot of stuff on there that the Seller really hadn't expected. Of course, the Seller had all their money tied up in the house and, to make matters even more interesting, the Sellers had moved out of the area and weren't planing on coming back.  So here we were with lots of little and not-so-little repair items, a Seller with no money (yet) and me facing the possibility of coordinating multiple  contractors to do various things around the house.  Not pretty. Even if the Seller had money, they had already given up the max the lender would allow in closing help at the time of the offer.  You see, the buyer wanted every last nickel out...
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By Ken Montville, The MD Suburbs of DC
(RE/MAX United Real Estate)
It always amazes me that when a home is priced aggressively right out of the gate and looks even half decent -- not Martha Stweart but nice -- that multiple offers start ot come in almost immediately. My clients who own the townhouse in this post in gorgeous and historic Laurel, MD had lived in it for 28 years.  It wasn't paid off because they had refinanced to get some cash out at one point but they had plenty of equity and it was in no way, shape or form anywhere near short sale or foreclosure status.  It was a plain vanilla, regular-regular sale. They had moved out and they want to sell the house.  Sure.  They would like to get as much as they could but their main motivation was to sell the house. So, they had made some home improvements and priced the home aggressively.  Lo and beho...
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