Tag Archives: First time home buyer

Montgomery Co Tax Bills Are Coming – Are You Receiving the Homestead Tax Credit?

Tax Bills are Here – Ensure You’re Receiving Tax Credits!
Homestead Property Tax Credits and New Mo Co Tax Credits for Elderly & Military Retirees

It’s July, for Montgomery County homeowners this means that tax bills will be arriving in your mailboxes shortly – the County estimates mailing bills in mid-July (bills will also be available via the County website).

Homestead Property Tax Credits

Tax Bill Example
click to enlarge

When you receive your bill you should look to see if you are receiving the Homestead Property Tax Credit (you’ll see “County Property Tax Credit”). This tax credit was established to help homeowners deal with large assessment increases on their principal residence. The Homestead Credit limits the increase in taxable assessments each year to a fixed percentage.

To prevent improper granting of this credit, a law was enacted in 2007 that requires all homeowners to submit a one-time application to establish eligibility for the credit. There are several criteria to be met, but the main conditions are that the property is your principal residence and you must have lived in it for at least six months of the year, including July 1 of the year for which the credit is applicable.

If you are not seeing a homestead property tax credit on your tax bill, you should determine the status of your Homestead eligibility by looking up your property on the Real Property Database.

Homestead Exemption Example
Click to Enlarge

Look at the bottom of the page, where it says Homestead Application Status. If it says “No Application,” then you should reapply to capture this credit on future tax bills.

For more info, check out frequently asked questions about Homestead Property Tax Credit, or contact the Homestead unit directly at 1-866-650-8783 or visit their website.

Tax Credits for Elderly & Military Retirees

Earlier this year the Montgomery County Council also enacted new legislation granting property tax credits for elderly individuals and for military retirees. Owners who are 65 or over and who has owned and lived in the dwelling for at least 40 consecutive years or those who are 65 or over and a military retiree may qualify depending on the assessed value of the home.

For 2017 taxes only, applications will be accepted until September 1, 2017. If you wish to receive a credit for your 2017 taxes, you must apply by September 1, 2017. For all other tax years, you must apply by April 1. This tax credit will not be issued on the July property tax bill; instead it will be calculated and issued on a subsequent revision of your tax bill, with the tax credit appearing as a line item deduction on the bill.

You can read more about the new tax credit and how to apply here.

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Staging Sells!

The National Association of REALTORS® (NAR) recently issued a report that home staging offers a distinct advantage to sellers – a speedy sale.

Go Brent Team routinely offers complimentary staging – our staging strategy has been honed over the last 15+ years and focuses on transforming a property into a welcoming, enticing space to attract the largest pool of potential buyers thereby resulting in a quicker sale for the highest possible price for our sellers!

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Over the past decade, we’ve built a substantial inventory of furniture, rugs, books and general décor to lend to clients. Years of experience arranging furniture in all types of homes, plus a retail background in home furnishings and décor merchandising, gives a strong base of knowledge. Our complimentary service includes furniture, décor as well as the labor! This represents a significant cost savings for sellers.

We also assist our clients with a plan to declutter and depersonalize the home to ensure that photos showcase the home rather than possessions.

Want to know more? Contact us for a consultation.

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FREE First-time Homebuyer Seminar – Saturday, July 22 at 10AM

Join Debbie Gerald with Go Brent Team of Keller Williams Capital Properties and Ramez Fahmy, Branch Manager at Caliber Home Loans for an informative seminar on how to purchase your first home.  The seminar is offered on Saturday, July 22 from 10-11am at the Silver Spring Civic Center in downtown Silver Spring. There is no cost or obligation, just plenty of information! Please register in advance.

Homebuyers are invited to come discuss the ins and outs of purchasing and financing your first home. You’ll also have the opportunity to ask questions and learn how to start the home buying process.

A little more about your hosts:

As a member of Go Brent Team, a top-ranked DC Metro area team helping 40 clients to buy homes last year, Debbie Gerald specializes in educating first-time homebuyers on the home buying process and the many avenues available when purchasing your first home. Debbie is an expert in the marketplace and an experienced contract negotiator; she also provides clients with superior service. Buyers know they can count on Debbie to guide them as they search for the right home.

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Caliber Home Loans Branch Manager Ramez Fahmy offers buyers 20-years experience in mortgage lending. Ramez is dedicated to providing superior service and expert guidance to first-time buyers throughout the home financing process. Caliber Home Loans offers competitive rates and fees along with innovative mortgage solutions to first-time homebuyers. Last year Ramez helped over 100 clients finance their home purchase. (NMLS#: 476394)

Can’t attend but want more information about home buying process? Email Debbie or call 301.873.0422.

YTD Market Stats Round Up

Below are data statistics for single-family home sales year to date in 20910, 20901, 20912, and 20895.

Interested in what’s happening in another zip code or are you looking for information on the market in your specific neighborhood? Contact us for local market insights.

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73 Homes Sold in 20910

Highest Priced Sale – $1,213,990
Average Home Sold Price – $637,453
Average Days on Market – 22

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136 Homes Sold in 20901

Highest Priced Sale – $805,334
Average Home Sold Price – $471,015
Average Days on Market – 29

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46 Homes Sold in 20912

Highest Priced Sale – $1,050,000
Average Home Sold Price – $536,202
Average Days on Market – 28

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110 Homes Sold in 20895

Highest Priced Sale – $1,575,000
Average Home Sold Price – $623,168
Average Days on Market – 32

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Selling Your Home In A Strong Real Estate Market

We’re experiencing a strong local real estate market! Many of our listings are going under contract within 2 weeks, while some homes are selling just days after listing.

When homes sell quickly, many sellers think it doesn’t really matter who lists their home. Stick a sign in the yard and it’s done, right? Well actually, not really.

However you perceive the market, your home is likely your most valuable asset and selling it is an important business decision. The Realtor you hire will act as your advocate throughout the process.

Why hire Go Brent Team?

  1. Our agents are full-time Realtors and experts in the marketplace. We are the #1 team, sales and volume, in the combined area of Silver Spring, Takoma Park, and Kensington. We will assist you with pre-market preparation and professionally market your home to appeal to the widest pool of buyers.
  2. We are highly experienced contract negotiators; last year, we negotiated 116 sales for clients. This means we diligently work to evaluate offers, negotiate counter offers, and advise on terms, conditions, and home inspection items. All of these can affect your bottom line as a seller, so experience and expertise shouldn’t be overlooked when choosing an agent.
  3. We’re a team! We have the support and organization in place to always assist you quickly and efficiently. Your agent will guide you throughout the transaction and team members are in place to expertly handle specific parts of the transaction.

If you are thinking of buying or selling, contact us for a free consultation. Not moving? We appreciate your referrals – we’re happy to talk with your friends, neighbors, or colleagues.

We’re pleased to have assisted these clients this year: 

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Rising Interest Rates

Many buyers are contemplating what a rise in interest rates would mean. Here are two scenarios that illustrate savings at a lower rate:

Buying a $400,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:

You save approximately:
$80/per month
$960/per year
$30,000 over the life or the loan

Buying a $650,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:

You save approximately:
$135/per month
$1,620/per year
$50,000 over the life or the loan

One of the most important factors when buying a home (or refinancing your current home) is choosing a lender.

As Cari Jordan stated, “I am concerned about the transaction going as smoothly as possible; the chances of that happening increase when a buyer uses a local lender with a good track record, who has processors, underwriters, and appraisers who are also based locally and familiar with our area.”

Over the years, these local lenders have served Go Brent Team’s clients well. Feel free to contact them directly or reach out to us and we’ll be happy to introduce you.

Chad Loube
George Mason Mortgage, LLC

Ramez Fahmy
Caliber Home Loans

Bruce Meyers
First Home Mortgage

Craig Strent
Apex Home Loans

FREE First Time Homebuyer Seminar – Tuesday, March 28

Join Debbie Gerald with Go Brent Team of Keller Williams Capital Properties and Ramez Fahmy, Branch Manager at Caliber Home Loans for an informative seminar on how to purchase your first home.  The seminar is offered on Tuesday, March 28 at 7:00-8:30pm at the Silver Spring Civic Center in downtown Silver Spring. There is no cost or obligation, just plenty of information! Please register in advance.

Homebuyers are invited to come discuss the ins and outs of purchasing and financing a first home. You’ll also have the opportunity to ask questions and learn how to start the home buying process.

A little more about your hosts:

As a member of Go Brent Team, a top-ranked team in the DC Metro area, Debbie Gerald specializes in educating first-time homebuyers on the home buying process and the many avenues available when purchasing your first home. Buyers know they can count on Debbie to guide them as they search for the right home. Our agents are experts in the marketplace, highly experienced contract negotiators, and provide clients with superior service. Go Brent Team helped 45 clients purchase homes last year.

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Caliber Home Loans Branch manager Ramez Fahmy offers buyers 20-years experience in mortgage lending. Ramez is dedicated to providing superior service and expert guidance to first-time buyers throughout the home financing process. Caliber Home Loans offers competitive rates and fees along with innovative mortgage solutions to first-time homebuyers. Last year Ramez helped over 100 clients finance their home purchase. (NMLS#: 476394)

Can’t attend but want more information about home buying process? Email Debbie or call 301.873.0422.

Buying a Home in a Seller’s Market

1504 Ballard Street, Silver Spring – Just 6 days on the market and under contract!

Our region is currently experiencing a “seller’s market,” meaning the demand for housing currently exceeds the supply and as a result, the market can be quite competitive for buyers – there may be multiple offers or homes may go under contract quickly.

Go Brent Team offers clients a working partnership to assess your needs and assist you to determine the best strategy for buying in the current market. Tammy Thomas, Cari Jordan, and Debbie Gerald are all full-time agents who have an unrivaled command of the local market.

WHAT WE DO

First, we provide you with a free consultation to get a clear picture of your ideal home. We work to ensure you are aware of the best properties available in your desired area, price range, and location; we can also suggest other neighborhoods that you may have overlooked but might want to consider. We provide you with sound advice by assessing what’s happening in today’s market and taking into account market forecasts, as well as your preferred timeframe and needs.

We recommend experienced lenders who can pre-approve you and determine the best financing plan for your situation. Your choice of lender will play a role when sellers and listing agents consider your offer; we’ll offer you guidance so you can make the best decision.

We also provide you with on-going updates of available properties in your target neighborhoods. We schedule showing appointments and assist you to compare homes. We are area experts and well connected in our communities. We can plug you in to local resources for hot topics like schools, transportation, parks, entertainment, dining and more. We offer you flexibility to tour homes when you are available. We are also in constant communication with agents in your target neighborhoods and often learn of new listings before they hit the market!

When you are ready to make an offer, we strategize to prepare your strongest offer. Writing and negotiating an offer is complex; our experience, knowledge and transaction volume means we can offer you expert advice. Go Brent Team agents are well-known, well respected, and have collegial relationships with area Realtors, so we offer you negotiating strength.

We would be happy to assist you whether you are ready to buy now or contemplating a future move.

SCHEDULE YOUR FREE BUYER CONSULT:

New Real Estate Pricing Stats

We’ve updated our real estate pricing stats through year-end 2016. The stats cover the past ten years of home sales. We have stats available for zip codes in Silver Spring, Takoma Park, and Kensington. Some zip codes show that home prices are near, or exceed, where we were at the top of the market.

We’re happy to share this data with you! Fill out the form below to request your copy.

FREE First Time Homebuyer Seminar – Wednesday, January 25

Join Debbie Gerald with Go Brent Team of Keller Williams Capital Properties and Ramez Fahmy, Branch Manager at Caliber Home Loans for an informative seminar on how to purchase your first home.  The seminar is offered on Wednesday, January 25 from 6:30-8:00 pm at the Silver Spring Civic Center in downtown Silver Spring. There is no cost or obligation, just plenty of information! Please register in advance.

Homebuyers are invited to come discuss the ins and outs of purchasing and financing a first home. You’ll also have the opportunity to ask questions and learn how to start the home buying process.

A little more about your hosts:

As a member of Go Brent Team, a top-ranked team in the DC Metro area, Debbie Gerald specializes in educating first-time homebuyers on the home buying process and the many avenues available when purchasing your first home. Buyers know they can count on Debbie to guide them as they search for the right home. Our agents are experts in the marketplace, highly experienced contract negotiators, and provide clients with superior service. Go Brent Team helped 45 clients purchase homes last year.

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Caliber Home Loans Branch manager Ramez Fahmy offers buyers 20-years experience in mortgage lending. Ramez is dedicated to providing superior service and expert guidance to first-time buyers throughout the home financing process. Caliber Home Loans offers competitive rates and fees along with innovative mortgage solutions to first-time homebuyers. Last year Ramez helped over 100 clients finance their home purchase. (NMLS#: 476394)

Can’t attend but want more information about home buying process? Email Debbie or call 301.873.0422.