Many Owings Mills homeowners are “upside down” on their mortgage. What does this mean?
So what are your options? Here they are:
1. Traditional Sale at a loss – you bring money to the table.
2. Short sale – you need to qualify for a hardship.
3. Rent out your home until the market comes back.
4. Stay and don’t make a move.
We can help you decide what is best for you. Give us a call.
Lots of good info here in this marketwatch video. Total inventory is very low and causing prices to rise. What is happening in your neighborhood? We want to hear from you.
I know it is scary. Some property manager that you do not know makes decisions regarding your home and your money. Scary!
It all starts with trust. You need to feel good about who is making these decisions. We pride ourselves on having very high standards compared to other companies. We have been in business for over 15 years, are locally owned, and only hire the best.
Meet Juli Stein, our Chesapeake Property Managment property manager. Juli is the best and you can trust her with all of your repair and maintenance decisions. Contact Juli at [email protected]
This is one of the first questions that our clients ask us. Our clients usually have excellent credit, are current on their mortgage payments and are just underwater in that they owe more than market value. So they are hesitant to do a short sale because they don’t want their credit to be negatively affected. Unfortunately, I cannot answer their question exactly. The answer is “It depends” which I know is not very satisfying.
Here is a video that explains a bit more:
For your specific circumstances, call me at 410-902-1100 x 107. I want to make sure that I understand all of the details regarding your situation before I give advice.
Thanks and have a great day!
What is a short sale?
Most of our clients here in Baltimore are NOT behind on their mortgage payments. But they ARE underwater on their mortgage. With recent depreciation of home values, many of our clients owe more than market value and this home is holding them back from moving on with their life. They can’t sell, they can’t buy a new home, they are concerned about relocating and they just feel stuck.
Maybe a short sale is the answer? What is a short sale?
We are CDPE certified, Certified Distressed Property Experts, and can walk you through the short sale process. It is not right for everyone but it may be right for you. Since each situation is unique, please contact me to review your circumstances. We are here to help.
Have a great day!
Maybe and partially! Yes, it may be the right time to sell your home. Values have started to come back, inventory is very low, interest rates are low and we are starting to see a Seller’s market in some areas. Seller still have to be priced right, in great shape and the home has to be accessible. If you are on board, let’s talk! To find out your home’s value in today’s market, go to www.BaltimoreHomeValues.com.
Here are some statistics for the Baltimore Metro Region. This video is from February 2013; I am waiting on March and will post asap.
How Much Does Property Management Cost?
Usually the first or second question that potential customers ask me is “How much does property management cost?” There are really 2 separate services involved in property management.
Marketing the Home
The first, marketing and renting out the home, runs through our real estate company, Yaffe Real Estate. Most companies charge one month’s rent to market a home. This fee pays both the Landlord’s agent and the Tenant’s agent for bringing together a qualified landlord and a qualified tenant.
Day to day Management
At this point, most Landlords go over to our property management company, Chesapeake Property Management, Inc. “CPM”. CPM handles the day to day management of the properties. The landlord and the tenant will NEVER communicate with each other; we handle all day to day issues – repairs, rent issues, HOA/condo violations, neighbor complaints, pool passes, maintenance, etc. We are staffed 5 days per week to handle the Landlord/Tenant relationship so that you don’t have to! We are also staffed on nights and weekends for emergencies. Most fees are 10% of the monthly rent.
At CPM, there are NO OTHER HIDDEN fees! Other companies mark up invoices and charge for various services. That is not the way we want to do business. For more information, contect me directly at [email protected]
Are you thinking of buying your first investment property? Time to build your portfolio? Let us help!
Is it time to buy your first investment property here in Baltimore? Are you ready to put together a long term plan? We are here to help. Real estate can and should be part of your investment portfolio.
We have our CIAS designation and we are ready to help you. We have been landlords ourselves for 15 years and know what to look for in an investment property. Contact me at [email protected]
The low inventory in the Baltimore Metro area is causing some challenges. However, we are optimistic about our Spring season. Contact me for more details. Linda Bass Yaffe, [email protected] Have a great day!