Tom's Blog

This morning I read a blog written by Lenn Harley: FANNIE MAE SET TO COLLECT ON DEFICIENCY JUDGMENTS CAUSED BY STRATEGIC DEFAULTS. I commented on that blog and was prompted to write this one.  Home owners are struggling and they really need help.  We need programs that will actually work.  This b...

The Taste of Wheaton takes place on Sunday, May 16, from 11:00 am to 5:00 pm in the Wheaton Triangle at the corner of Grandview Avenue and Reedie Drive in downtown Wheaton (one block north of the Wheaton Metro station).  This tradition is always worth attending.  Great food, entertainment, commun...

Charles M. Goodman (1906-1992) was an American architect who made a name with his mid-century modern/contemporary designs in suburban Washington, D.C. after World War II including homes in Wheaton. Goodman designed the original National Airport outside of Washington, D.C.  After attending the Il...

                          Farming for Food   I thought other Real Estate agents would find this interesting and may want to participate.  The Green Bag Project is a non-profit organization whose purpose is to organize food drives and neighborhood food collections, in partnership with local food b...

On Friday, January 8, 2010, the Montgomery County Transfer Office issued a Memorandum explaining that in a short sale, if a short sale lender forgives any portion of sellers’ outstanding mortgage principal(s), the county will calculate transfer and recordation taxes on the outstanding mortgage pr...

Hearthstone Village - Silver Spring, MD.                                       Built in 2001 by Beazer Homes, a community of approximately 100 Upscale Townhouse style Condominium units. They include multi-level, 2 Bedroom, 2 Bath, as well as, 3 Bedroom, 2.5 Bath units. All include a 1 car garage....

Is anyone else having serious problems getting listing agents and banks to respond on offers for bank owned properties? Twice, with two different offers, different banks and different listing agents, it took over 2 weeks to get responses.  Some of this was due to the banks, but most was due to th...

I just thought I would post an update from my previous post.  I've been in contact with our local MLS here in the Washington, DC area (MRIS) and they agree that once the seller(s) in a short sale sign an offer and the offer has been submitted to the Bank, It's a Ratified Contract with a Third Par...

I think most Realtors are now dealing with "short sales" in some form or fashion today.  I'm dealing with a major frustations with the correct reporting of "status" and wanted to get some opinions. My feelings are that the "third party approval" required on short sales is a "contingency".  My bro...

The Mortgage Forgiveness Debt Relief Act of 2007On December 20, 2007, President Bush signed into law the new Mortgage Forgiveness Debt Relief Act of 2007, H.R. 3648; Pub. Law 110-142.  That law includes several tax changes relating to real estate transactions.  The first major change pertains to ...