Category Archives: Realtor Advice

Montgomery County HOC Purchase Assistance Program

Many local jurisdictions offer assistance programs to promote homeownership to first-time homebuyers. One such program is the Montgomery County HOC purchase assistance program which was modified with new program features to allow more people to qualify. Here are the new features: Two 30 Year Fixed Rate ZERO point options: OPTION 1: 3.625% OPTION 2: 4.0% […]

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What are Mortgage Escrow Accounts?

A common question from first-time homebuyers when purchasing their home is “What is a Mortgage Escrow Account?” A Mortgage escrow account is used to help borrowers save money for property taxes and homeowners‘ policy premiums. Escrows can help prevent financial mistakes and it puts you at ease to know your bank is responsible for paying […]

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Why is the Tax Assessed Value is not a measure of market value??

During many listing presentations, I’ve had many sellers debate the value of their home based on the tax assessed value. The sad truth is that the tax assessed value is not a direct reflection of the current market value. The issue is that the local tax assessor’s office will assess properties every 1-3 years. Needless […]

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Dear homebuyer: Do not fall in love w/ the house

A common obstacle which arises when first-time homebuyers look for their first home is “Falling in love with a home!” Now somebody might say, “What’s the big deal? Isn’t the whole point to fall in love with the home you are going to purchase it?” The truth is falling in love with a home can […]

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What are Special Assessments?

Every condo owner dreads these two words: SPECIAL ASSESSMENT! The common reason why a condo has a special assessment is simply poor planning by the condo association. Special assessments are always often controversial and expensive. What is a special assessment? A special assessment is a fee approved by a homeowners association to cover items, usually […]

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Medical Homebuying Programs: Doctor Loan Programs

Over the past few years, I have had clients who were in the medical profession that decided to purchase a home. There are numerous grants and loan programs which specifically cater to doctors and nurses, such as SunTrust Bank’s Doctor Loan Program. What is the Doctor Loan? We have created The Doctor Loan Program to […]

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Real Estate Scams: Change of Loan Servicer

During a settlement of all places, the title attorney began sharing w/ the first-time homebuyer and I about some real estate scams that he encountered recently. One such real estate scam surrounds a common practice called, “change of loan servicer.” A change of loan servicer occurs when you purchase your home and you receive a […]

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Military Homebuying Programs: Dream Makers

The Washington DC metropolitan area is full of military personnel and there are many military homebuying programs available. One such program is Dream Makers which provides up to $5,000 Grants for First-time Military Buyers. Active duty personnel, veterans, retired members of the military, and employees of the U.S. Dept. of Defense and the Dept. of […]

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Dear Homebuyer: Why can’t I buy my home with a personal check?

This is a common question among first-time homebuyers a few days before settlement: “Why can’t I buy my home with a personal check?” For some people this might seem like a weird question, but it is a relevant one. After finally overcoming all the obstacles and providing an enormous amount of paperwork to prove your […]

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Understanding your Buyers Representation

It is common for many homebuyers to inquiry about their rights and protections under the Buyers Representation agreement. I think by reviewing and understanding the Buyers Representation, you can troubleshoot any potential miscommunication and/or confusion at the outset. The Buyers Representation protects the Buyer and ensures that they get the best possible service from their […]

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