by Kenneth Powell | Aug 20, 2024 | Uncategorized
If you’re a resident of Lusby, Maryland, or just curious about this charming community, the Lusby Facebook Community Page is a must-visit. This private group, with a growing membership of over 450 locals, serves as a hub for residents to connect, share local events, ask for recommendations, and support each other. It’s a fantastic resource for anyone who wants to stay connected with what’s happening in the area.
One of the most exciting aspects of the Lusby Facebook Community is the way it highlights local businesses that provide valuable services to the residents of Calvert, Charles, and St. Mary’s counties. Here are three businesses that stand out for their exceptional contributions to the community:
1. Jax Junk Removal and Services
Jax Junk Removal and Services exemplifies a local business deeply committed to the Lusby community. This business, whose owner is a recent college graduate, provides same-day junk removal services to help locals keep their homes and properties clutter-free. Whether you’re moving, doing a major cleanout, or just need to get rid of some unwanted items, Jax Junk Removal is ready to assist with any project, big or small. Their commitment to customer satisfaction and community service makes them a go-to option for many Lusby residents.
To schedule your junk removal today, call Jax Junk Removal at 240-577-9614 or email [email protected].
2. Prime HVAC LLC
Breathe easier with the professional duct cleaning services offered by Prime HVAC LLC, another trusted name in Lusby. This business is celebrating its 7th anniversary with a special promotion—35% off all duct cleaning services throughout August! Prime HVAC LLC dedicates itself to keeping Lusby homes free from dust and allergens, emphasizing the importance of clean ducts for a healthy indoor environment. Their licensed and insured team is committed to providing top-notch service with a 100% satisfaction guarantee.
To take advantage of their special offer, contact Prime HVAC LLC at [email protected].
3. Jayme’s Cleaning Service
For residents seeking reliable and thorough cleaning services, Jayme’s Cleaning Service is a popular choice. Jayme and her team offer comprehensive cleaning solutions, ensuring your home is spotless and inviting. With openings available in September, now is the perfect time to book a service. Jayme’s Cleaning Service is known for its attention to detail and commitment to customer satisfaction, making it a trusted provider in the Lusby area.
You can call Jayme’s Cleaning Service at 443-771-5812 or schedule a walkthrough estimate on their website.
Join the Lusby Community on Facebook.
The Lusby Facebook Community Page is more than just a social media group; it’s a place where neighbors come together to support each other and local businesses. Whether you’re looking for services, wanting to participate in local events, or simply want to stay in the loop with what’s happening in Lusby, this community page is the place to be. Join today and become part of a thriving community that celebrates the spirit of Lusby, Maryland!
by Kenneth Powell | Aug 13, 2024 | Home Buyers Guide
In real estate, even a slight change in mortgage interest rates can significantly impact a buyer’s purchasing power. When interest rates drop, it can make home ownership more accessible or allow a buyer to afford a more expensive property. In this post, we’ll explore how a reduction in the mortgage interest rate from 7.5% to 5.99% can increase a buyer’s purchasing power, providing more options and opportunities in the housing market.
The Power of Lower Interest Rates
Let’s consider two scenarios where a buyer is considering a mortgage with a $17,500 down payment but faces different interest rates.
Scenario 1: Interest Rate at 7.5%
- Monthly Payment: $4,323.71
- Purchasing Power: $500,000
Scenario 2: Interest Rate at 5.99%
- Monthly Payment: $4,323.71
- Purchasing Power: $560,000
With a lower interest rate of 5.99%, the buyer’s purchasing power increases from $500,000 to $560,000 while maintaining the same monthly payment of $4,323.71. Because of the reduction in interest rates, buyers now have the option of looking at homes in higher price ranges.
More Options and Negotiating Power
This increase in purchasing power not only allows the buyer to consider a wider range of homes but also provides them with more negotiating leverage. With the ability to afford a higher-priced home, the buyer can explore neighborhoods or properties that were previously out of reach. Additionally, the buyer can use this extra financial flexibility to negotiate better terms and compete with other buyers in highly competitive markets.
Bottom line
The drop in interest rates from 7.5% to 5.99% has a substantial impact on what a buyer can afford, increasing their purchasing power from $500,000 to $560,000. In the above scenario, all things being equal, the mortgage on the $500,000 home decreased from $4,323.71 to $3,839.73. That is a $484 difference in monthly payments. This boost gives buyers more options in the housing market and enhances their ability to negotiate favorable terms. As interest rates fluctuate, understanding how these changes affect your buying power is crucial for making the most informed real estate decisions. It’s a great time for you to contact a lender to determine your buying power and financing options.
Bill Saunders
Branch Manager | NMLS #455891 3140 W Ward Rd., Suite 101 & 102 Dunkirk, MD 20754 M: 301.440.9102
Marvin Calder
NMLS# 1094002 Sales Manager (443) 294-5738 office (240) 723-4212 cell (443) 294-5738 fax
JEFFREY HALBERT
Branch Sales Manager | Loan Originator phone: (301) 327-5803 | cell: (301) 802-1944
by Kenneth Powell | Aug 7, 2024 | Uncategorized
In the serene countryside of Southern Maryland, amidst the lush green fields and peaceful landscapes, a digital community thrives, bringing together the essence of local flavors and family traditions. Welcome to “Southern Maryland Is Hungry,” a Facebook group born at the onset of the pandemic in 2020. This group isn’t just a virtual space; it’s a lifeline to the small, family-owned restaurants that embody the spirit of our community.
We are committed to supporting local businesses, one bite at a time.
The mission of “Southern Maryland Is Hungry” is clear: to support our cherished local family-owned restaurants. This group proudly excludes franchise or chain establishments, focusing solely on the unique culinary havens that bring warmth and tradition to our tables. Answering a brief survey earns membership in this group, ensuring a dedicated community of like-minded individuals who genuinely care about uplifting local businesses. Maintained by four diligent administrators, the group thrives on positive interactions and genuine support. It spans across St. Mary’s County, Charles County, and Calvert County, inviting anyone who cherishes local cuisine to join and participate. Here, you’ll find a treasure trove of recommendations, reviews, and heartfelt stories from fellow food enthusiasts.
A Taste of Southern Maryland
Among the shining stars featured in the group is Hole In The Woods Farm, nestled in the heart of St. Mary’s County. This family farm is a beacon for those who value transparency and quality in their food. Raising beef and pork with care, Hole In The Woods Farm offers a direct connection to your food source. Visit them on Saturdays from 8 a.m. to 1 p.m., Wednesdays from 2 p.m. to 5 p.m., or schedule an appointment for a personalized experience. They promise unparalleled freshness and flavor in their offerings, which include leg of lamb and lamb shoulder roast.
Sweet Indulgence and Culinary Craftsmanship
For those with a sweet tooth, The Honey Bun Cake Factory is a must-visit. Every cake is a work of art, presented in the luxurious form of cheesecakes. The Honey Bun Cake, in particular, is a heavenly creation that blends traditional flavors with modern indulgence. Made with the freshest ingredients, each bite is a symphony of creamy sweetness that will leave you craving more.
Soul Food Sundays at Pinky’s Eatery
Sundays at Pinky’s Eatery are a celebration of soul food and community spirit. With a menu featuring smothered pork chops, turkey wings, oxtails in gravy, and more, Pinky’s is a haven for comfort food lovers. Chef’s latest creation, Buffalo Fried Catfish, is a must-try for the adventurous palate. And as a sweet gesture, Pinky’s offers free Italian Ice and popsicles with every meal purchase, spreading joy and a sense of community.
Join the Culinary Journey
“Southern Maryland Is Hungry” isn’t just a Facebook group; it’s a celebration of our local culinary heritage. It’s a place where newcomers and longtime residents alike can discover the rich tapestry of flavors that make Southern Maryland special. By supporting these family-owned restaurants, we help preserve the traditions and stories that define our community.
So, if you’re new to Southern Maryland or simply looking to explore its culinary gems, join “Southern Maryland Is Hungry” today. Together, we can savor the flavors, support our local businesses, and keep the heart of Southern Maryland beating strong.
by Kenneth Powell | Aug 2, 2024 | Uncategorized
Springfield, Virginia, is a vibrant and sought-after community that offers a unique blend of suburban charm and urban convenience. Located just outside Washington, D.C., this area is known for its excellent schools, diverse dining options, and a variety of recreational activities. If you’re considering buying or selling a home in Springfield, it’s essential to understand the current real estate market dynamics.
A Seller’s Market: High Demand, Low Inventory
There is currently a high level of demand and a low level of inventory in the Springfield real estate market. The Months Supply of Inventory (MSI) currently stands at a meager 0.68. Given the current sales pace, the MSI, a critical metric in real estate, indicates how long it would take to sell all of the homes currently on the market. An MSI below 4 months typically signifies a seller’s market, meaning there are more buyers than homes available. The competition among buyers is particularly fierce. Typically, homes sell within the first week of listing. The Median Sold Price of $720,687 reflects the strong demand for homes in the market, leading to higher sale prices. Sellers are benefiting from the competitive market conditions, while buyers may need to act quickly and be prepared to offer competitive prices to secure a home.
What Does This Mean for Buyers?
For buyers, this means that acting quickly and decisively is crucial. Springfield homes sell quickly, often receiving multiple offers shortly after listing. To navigate this competitive market, consider the following tips:
- Get Pre-Approved: Having a mortgage pre-approval in hand indicates to sellers that you are a serious and qualified buyer.
- Work with the Right Agent: Hire a knowledgeable real estate agent who understands the Springfield market, and knows how to structure offers to get them accepted without overpaying for a home.
- Be Flexible: Being open to different neighborhoods or home styles can increase your chances of finding a suitable property.
What Does This Mean for Sellers?
For sellers, the current market conditions present an excellent opportunity to sell your home quickly and potentially for a premium price. Here are some strategies to maximize your success:
- Stage Your Home: Professional staging can make your home more attractive to potential buyers.
- Price It Right: Setting a competitive price can generate interest and lead to multiple offers.
- Market Aggressively: Utilize online listings, professional photos, videos, virtual tours, social media, and open houses to reach a broad audience of potential buyers.
Neighborhood Insights
There are several neighborhoods in Springfield, each with distinctive features and appeal.
- West Springfield: Known for its excellent schools and family-friendly environment, West Springfield is a top choice for families.
- North Springfield: Offers a mix of older, charming homes and newer developments, providing a variety of options for buyers.
- South Run: Features larger homes and more green space, making it ideal for those seeking a more suburban feel.
Living in Springfield
Residents of Springfield enjoy a high quality of life with access to numerous amenities, including:
- Parks and Recreation: Lake Accotink Park and Burke Lake Park offer outdoor activities like hiking, fishing, and boating.
- Shopping and Dining: The Springfield Town Center features a wide range of retail stores and restaurants, catering to all tastes and preferences.
- Commute: Convenient access to major highways (I-95, I-395, and I-495) and public transportation options make commuting to Washington, D.C., and other areas straightforward.
Bottom Line
Due to its high demand and low inventory, the Springfield real estate market is dynamic and competitive. Whether you’re buying or selling, understanding the local market conditions and working with experienced professionals can help you achieve your real estate goals. With its excellent amenities, strong community spirit, and strategic location, Springfield continues to be a desirable place to live and invest in real estate.
by Kenneth Powell | Jul 23, 2024 | Home Buyers Guide
Purchasing a home can be both an exciting and daunting experience, especially when the property requires renovations or improvements. Two popular financing options that can help homebuyers in Prince George, Calvert, St. Mary’s, Charles, and Anne Arundel counties are the FHA 203(k) loan and the Fannie Mae HomeStyle loan. These loans offer unique benefits and can make it easier to buy and renovate a home. This guide will explain each loan type in detail, helping you make an informed decision.
Homebuyers can finance both the purchase and renovation of a property with the FHA 203(k) loan, a government-backed mortgage. The Federal Housing Administration (FHA) offers this loan, which can be especially advantageous for buyers considering homes that require significant repairs or upgrades.
Key Features of a 203(k) Loan:
- Single Loan for Purchase and Renovation: Combines the cost of purchasing the home and the cost of renovations into a single mortgage.
- Low Down Payment: This requires a down payment as low as 3.5%, making it accessible to more buyers.
- Flexibility in Property Types: Can be used for single-family homes, multi-family properties (up to four units), and certain approved condominiums.
- Two Types of 203(k) Loans:
- Standard 203(k): When undertaking more extensive renovations surpassing $35,000, like structural alterations or room extensions,
- Limited 203(k): For minor repairs and improvements under $35,000, such as painting, new appliances, or minor kitchen renovations.
- Renovation Timeline: You must complete all renovation work within six months of the loan closing.
Eligibility Requirements:
- The loan must meet standard FHA loan requirements, including credit score and debt-to-income ratio criteria.
- The property must be at least one year old.
- Renovation costs must be at least $5,000.
- A qualified contractor must supervise renovations and the FHA must approve them.
What is a HomeStyle Loan?
The Fannie Mae HomeStyle loan is a conventional loan that allows homebuyers to finance both the purchase and renovation of a home. Unlike the 203(k) loan, the HomeStyle loan is not government-backed, but it offers similar benefits for buyers looking to purchase fixer-upper properties.
Key Features of a HomeStyle Loan:
- Single Loan for Purchase and Renovation: Combines the cost of purchasing the home and the cost of renovations into one mortgage.
- Higher Loan Limits: Compared to the 203(k) loan, it allows for higher renovation budgets, making it suitable for more extensive home improvements.
- Wide Range of Eligible Properties: Can be used for single-family homes, multi-family properties (up to four units), condos, and even vacation homes.
- No FHA Fees: Because it is a conventional loan, it avoids some of the fees associated with FHA loans, such as the upfront mortgage insurance premium.
- Flexible Renovation Options: Can be used for luxury upgrades and improvements, such as swimming pools or high-end kitchens.
- Renovation Timeline: You must complete all renovation work within 12 months of the loan closing.
Eligibility Requirements:
- The candidate must meet standard conventional loan requirements, including a higher credit score compared to FHA loans.
- The down payment requirement is typically higher than the 203(k) loan, often around 5%.
- A licensed contractor must complete the renovations and Fannie Mae must approve them.
- Before the loan closes, you must submit and approve detailed renovation plans and cost estimates.
Select the Appropriate Loan for Your Requirements
When deciding between a 203(k) loan and a HomeStyle loan, consider the following factors:
- Loan Limits and Budget: If your renovation budget is higher, the HomeStyle loan might be a better fit due to its higher loan limits.
- Property Type: You can use both loans for a variety of property types, but the HomeStyle loan offers more flexibility, including vacation homes.
- Credit Score: If you have a lower credit score, the 203(k) loan might be more accessible due to its more lenient credit requirements.
- Down Payment: Consider how much you can afford to put down. The 203(k) loan offers a lower down payment option.
- Renovation Scope: For luxury or non-essential improvements, the HomeStyle loan provides more flexibility.
Both the FHA 203(k) and Fannie Mae HomeStyle loans can be powerful tools for homebuyers looking to invest in a property that needs work. Understanding the features and requirements of each loan allows you to make an informed decision that aligns with your financial situation and renovation goals.
If you have any questions or need further assistance, feel free to contact me, Kenneth Powell, at Realty One Group Performance. You can reach me at 240-237-7855 or through my contact form.
