Real Estate in Howard County MD ~ Gretchen Conley, Howard County REALTOR®

Tax Assessments

Gretchen — Tue, 08 May 2012 12:44:45 +0000

“Anyone may arrange his affairs so that his taxes shall be as low as possible…for nobody owes any public duty to pay more than the law demands.”
Judge Learned Hand

This opinion refers to federal income tax but the logic and spirit can easily be applied to any tax including property tax. Most property tax is based on a valuation called an assessment placed on the property by a government taxing authority.

When property values rise due to appreciation, the assessments usually rise. However, when values decline as they have done in many areas in the past few years, the assessments should follow accordingly.

Click here for local Howard County contact information on the government website.

If you don’t believe your assessment reflects market value, put together proof to support your position. Recent comparable sales, similar in size, condition and location are very persuasive. Check to see if the square footage on the assessment is accurate. If the home is not in good condition, take pictures to show that.

As your real estate professional, I can supply the comparables, filing deadlines and other pertinent information needed to make a challenge. Lowering your assessment will result in lower property taxes and more money in your pocket.

Best regards, Gretchen

Local Sporting Events – Rental Opportunities?

Gretchen — Mon, 30 Apr 2012 15:23:30 +0000

Some residents of Augusta, Georgia have purchased tickets to the Master’s for years but have never attended the famous golf tournament. It’s because they include the tickets as a bonus to the people who rent their home during the event. Each year, owners rent their home for a big premium during the Masters and make tax-free income. Homeowners benefit from a little known provision in the tax code that does not require taxpayers to recognize the income derived from renting their home for less than 15 days per year. See Rental of property also used as home on IRS.gov.

Large sporting events like golf and tennis tournaments, championship games and other high attendance events increase the demand for a temporary rental of a private residence. Obviously, there are challenges with personal belongings and damage but getting a premium rental rate with a substantial deposit and not having to recognize the income could be worth it. You’ll certainly want to discuss this with your tax professional prior to making this decision. You’ll probably also want to get some help from an experienced real estate professional.

Best regards, Gretchen

FHA Fees Going up April 1st, 2012

Gretchen — Tue, 06 Mar 2012 15:27:33 +0000

They’re going up!

FHA has raised the annual Mortgage Insurance Premium to 1.25% beginning April 1st. MIP is required on all FHA loans and used to fund losses by lenders for borrowers who default on their mortgages. As of June 1st, FHA loans in excess of the standard maximum of $625,500, in high-cost areas, will have a premium of 1.5% of the loan amount.

In addition to the increase in the annual MIP, FHA also announced it plans to raise the fee on the up-front MIP from 1.00% to 1.75%. No date was reported for its implementation.

The bottom line will result in a borrower’s payments going up. However, it might not be restricted to the MIP. Freddie Mac’s Primary Mortgage Market Survey showed that both 30 year and 15 year mortgages have gone up too.

One way to avoid the increase is to have a completed sales contract and have your lender order the FHA commitment prior to April 1, 2012. If you plan on buying a home this spring, there is a reason to do it earlier rather than later.

Questions? Ready to go see homes? Need a recommendation for a terrific lender? Call me today!

Best regards, Gretchen

Too Cute to Miss Monday in Howard County MD 3 5 2012

Gretchen — Mon, 05 Mar 2012 23:27:39 +0000

Here we are! It’s Too Cute to Miss Monday again! What do you think of these adorable Howard County homes, especially picked out for good looks, good condition, and an all around cute factor? Have fun looking, and let me know if you’re in the market and would like to take a closer look. The pictures here will give you a brief overview, but Too Cute to Miss Monday Howard County Homes 3 5 2012 for more details on all of them.

And of course, have a Happy Monday! Best regards, Gretchen

P.S. Sellers, want your home listed here? Call me today to find out how!

Do You Need an Umbrella or a Snow Shovel?

Gretchen — Sun, 04 Mar 2012 01:13:51 +0000

Good news from Inman News this week, reporting the uptick in January contracts nationwide, and anticipating slight increases across the board this year – slight increase in the number of homes sales, median home price, and downtick in unemployment. Click here to read the entire article. This is all good news, slow and steady rise, while interest rates still remain at remarkably low historical rates.

But before anyone makes decisions one way or another based on this information, just remember: Real Estate Is Local — Just like the Weather! So if you’re planning to sell or buy this year in Howard County or one of our other local Central Maryland Counties, give me a call to see what’s going on in YOUR NEIGHBORHOOD! After all, just because the National Weather Map says there will be precipitation in the Mid Atlantic States today, it could be a warm rain, sleet, or snow, depending on where you are – or heck, in the summer it could be overcast everywhere but right along the coast, where it’s beautiful, clear and sunny at the beach all weekend. I’ve seen it happen!

Best regards, Gretchen

No Fail Washing Machine Hoses? Wow!

Gretchen — Sat, 03 Mar 2012 12:33:54 +0000

Well, while I’m hoping that no one will actually take this 2nd column in a week on washing machine hoses to mean that I spend that much time washing clothes (I don’t!), I do want to share this update to my recent post about replacing your washing machine hoses. An alert reader, Steve Vargo, representing a company who manufactures washing machine hoses, www.floodchek.com, wrote to update me on replacement hoses, which I’ll post just below. I would mention though, that his company’s claim that there have been NO failed washing machine hoses since 1989, is amazing – So read and wash at your own risk, and if you’ve used these specialized hoses, or might soon, let me know what you think!

Hello, Gretchen,

Although well intended and certainly a matter of home safety, your recommending those braided washer hoses needs reconsideration. Read the information on my web page and you’ll understand why we call those type hoses “The Emperor’s New Hose”. I spoke with a man today that installed a pair of Fluidmaster “No Burst” washing machine hoses recently that came apart within two hours of installation. True, the hose didn’t “Burst”, it separated from it’s coupling that was attached to the the valve. Luckily, he was home and caught it before it caused damage.

Would you pay $40.00 for a pair of washing machine hoses that have NEVER failed in 24 years and NEVER need to be replaced? Visit floodchek.com. and give me a call.

–Steve the hose guy.

So there you have it! Almost makes me want to replace my hoses again, just to see if they’ll never fail!

Best regards, Gretchen

Columbia’s People Tree Cut Down?

Gretchen — Fri, 02 Mar 2012 20:43:36 +0000

Well, here’s some food for thought. If you were replacing the People Tree, what would you choose? Seems that those in charge, and perhaps for very good reasons, feel a replacement is necessary as the symbol of Columbia. Social media reasons, mostly, in that the image doesn’t work well on cell phones for instance. And also because they’re not sure they have the rights to use it, which seems it could be opening another whole can of worms. How did that happen? Or not happen?

At any rate, I’ve learned quite a lot today about the Columbia People Tree, located in Central Howard County, from a very information Baltimore Sun story. For instance, there are 66 people represented on it, and the reason for that is… (drumroll, please) … because the community was started in 1966! Good to know, and now easy to remember. Hope the People Tree stays in place, even if loses it’s top echelon symbolism soon.

For all the details, click here. And then, on one of these lovely spring-like days, take a walk around Lake Kittamaqundi and see it, either for the first time, or again!

Best regards, Gretchen

What is RED DAY? and LET’S MEET AT OUTBACK NEXT WEDNESDAY!

Gretchen — Thu, 01 Mar 2012 19:14:53 +0000

What is RED DAY, you ask? Well, straight from www.RedDayMD.com, following is the long description of how we at Keller Williams help to support and better our communities on a regular basis. BUT before you get to that, know that this coming Wednesday, March 7, from 12-2, there’s a FUN and EASY WAY to help support the upcoming RED DAY as your donations will support our work in May AND get you a TERRIFIC LUNCH BUFFET at the HOWARD COUNTY OUTBACK RESTAURANT from 12-2. Call me, email, go online to www.RedDayMD.com and get your tickets – and THEN read this comprehensive and enlightening description of our plans for May!

RED Day 2012 – Thursday, May 10: Below is our plan from 2011 – it all worked well and we learned from the challenges we faced. This year we feel compelled to provide for more children in the community and donate money to Open Door Baltimore. We are in the planning stages for the 2012 Red Day, during which we will do repairs and maintenance work on two elementary schools (William Paca Elementary School and Dr. Bernard Harris Elementary School) AND have two separate field days (one for each school). Working with two schools will allow us to positively impact over 1,100 children and their families.

There are very basic needs at both schools. The children need things that we assume every child in every school in Maryland has access to. The physical education program at one of the elementary schools we are helping has an inventory of 8 bowling pins and 6 Nerf balls. Nothing more.

The teachers eat their lunches in drab dreary “lounges” that do not recharge and revitalize them. They leave them feeling uninspired and unappreciated. We are going to spruce up the teacher’s lounges so that they feel as valuable as we know they are. Help us make a difference. Help us give the greatest gift: HOPE.

CHARITY ASSISTED: Open Door Baltimore (ODB), 2615 E. Fayette St., Baltimore, MD 21224 – www.opendoorbaltimore.wordpress.com

GENERAL OVERVIEW: 350-400 volunteers will be signed up to work in volunteer positions for the day. Breakfast and Lunch for volunteers will be sponsored by Wells Fargo. Open Door Baltimore (ODB) is a not-for-profit organization that works to empower individuals and families in the poorest neighborhoods of East Baltimore. ODB provides, food, clothing, counseling, employment training and assistance, as well as many other services by working with many other not-for-profit services that are also operating in East Baltimore. RED Day’s activities will involve effort at several different locations in the vicinity of Open Door Headquarters.

In addition to the activities of May 10th, 2012, we have committed to endeavor several important donation and fund-raising drives leading up to the 5/10 event involving Food, School Supplies, School Equipment, Service Equipment, Garden & Construction Materials, etc….

Sign-Up Details and Donation needs are listed at http://tinyurl.com/reddaymd11.

So, any questions? Call! And get a ticket (or two) and come join us for lunch on Wednesday!

Best regards, Gretchen

Investor Wednesday Weekly Value Alert 2 29 2012

Gretchen — Wed, 29 Feb 2012 21:08:34 +0000

Looking for Howard County MD good investments? Here’s your Wednesday Weekly Value Alert! Have questions? Need more information? I’m just a call away!

Click here for link: Investor Wednesday Weekly Values 2 29 2012

Happy Househunting!

Best regards, Gretchen

How old are YOUR Howard County MD washing machine hoses and WHY is that important?

Gretchen — Tue, 28 Feb 2012 20:02:23 +0000

Fix It Anyway

“If it isn’t broke, don’t fix it” is certainly popular advice, but if you’ve ever had a serious plumbing leak, you certainly wished you had taken care of the problem earlier.

Washing machines, like all appliances, are supposed to work and when they don’t, it’s time to have them fixed or replaced. However, there is a critical connection from your water supply that may even be older than your washing machine itself.

Ask any Howard County homeowner whose hose broke while they were asleep or out of town and you’ll hear stories of how quickly the water can damage walls, flooring and furniture. Almost anyone can replace the hoses with a pair of pliers for under $30.00 to avoid this potential catastrophe.

As you’re shopping for the replacement hoses, consider the braided stainless steel connectors. The advantage is that the stainless steel offers additional protection should a soft spot develop in the hose beneath. They’ll cost a little more but offer considerably more protection for a nominal price. You can almost always find them in stock at your local Lowe’s, Home Depot, or at Kendall Hardware in Clarksville.

Happy homeownership!

Best regards, Gretchen