Welcome to another edition of the Head for Home Team Monthly Newsletter! In this issue: As the economy continues to flatline, many people are struggling to pay for their homes. Most industry experts are expecting another "wave" of foreclosures. The sad truth is that almost every one of these foreclosures is avoidable, if the home owner takes advantage of a short sale.
As a Certified Distressed Property Expert, I frequently see statistics and figures regarding short sales and foreclosures. The most troubling statistic is this one: nearly 75% of homeowners facing foreclosure NEVER ask for any help! There are many reasons for this troubling statistic. They feel like they are alone- but they are not. They feel like there is no one who can help- but there is. They feel like the whold situation is overwhelming, which it can be- unless you work with someone who can break the situation down into manageable steps to help you move forward.If you, or someone you know is struggling to make ends meet, please visit my web page devoted to avoiding foreclosure with a short sale. The site includes information about the process, plus new information from Fanne Mae and about the new HAFA program.
  Housing activity continues to remain above year-ago levels despite some setbacks resulting from the now-expired tax credit. Improved stability in home prices with similar levels of distressed properties seen last year offers a hopeful sign the market is holding its ground. However, the economy still has a considerable way to go to achieve its full recovery.
Consumers are saving more and being picky about how they spend their money. While a higher savings rate means less spending in the near term, this is a positive sign that households are taking control of their finances to build some cushion that can be used to pay down debt and/or support future spending.
Existing home sales marked the twelfth consecutive month of year-over-year increase in June. On a monthly basis, sales activity eased 5.1% from May. The moderation in home sales reflects “understandable swings as buyers responded to the tax credits,” according to Lawrence Yun, NAR chief economist. He anticipates such impact to show up in the next two months. 
June’s median home price increased for the fourth consecutive month. Distressed homes, accounting for 32% of sales last month, continued holding home prices at highly affordable levels for the time being. While distressed sales hovered around the same level as a year ago, the gain in home prices is pointing to a sustained stability in the making.
Mortgage rates set a new record low in July as consumer confidence softened and unemployment remained elevated. This presents a great opportunity for buyers and investors. Coupled with lowered home prices and a robust rental market, investors are finding their way to cash-flow opportunities. As recovery gains deeper roots, rates will need to rise to keep inflation in check. 
Rates as of August 6. (Return to Top)
Market Report- July '10
We are continually striving to provide better, easier, and more timely information to our clients and customers. As such, we will be providing an enhanced monthly market report for each County. If you would like the same information for any County in Maryland which is not included, just let me know and I will send it to you. And don't forget to sign up for Market Snapshot if you want market data for a specific house.
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If you would like more specific housing trend data for your home, sign up for Market Snapshot, which is packed with current housing data.
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Foreclosed Property List for All of Maryland
We are using a new search provider for these searches. Now, when you enter the search after clicking the link, you will have options on the left side of the screen to refine the search. You can then save the search if you wish, and have them e-mailed directly to you.
Here is the updated list of Foreclosed Properties for:
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If you sign up for the Search Saver, you will be able to receive new listings as they occur. If you have any questions about the search system, please let me know!
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Vendor Spotlight: Dropbox Free Online File Storage Free On-Line File Storage with Dropbox
http://www.dropbox.com/
Based upon the recommendation of one of my technology advisors, I started using a free on-line storage site called Dropbox. There are many on-line storage sites, but what I like about Dropbox is the way it works. When you download the program, it adds itself to your my documents folder, and just shows up like another folder. So, no logging in, no synching, you can drag and drop files in windows like you do with files on your PC. It is so convenient and easy to use, I find myself putting more and more there so I can work from anywhere! The basic version is free, and should meet the storage needs of most people. If you try it, let me know what you think! (Return to Top) I hope you have enjoyed this edition of the Head for Home Team Monthly E-Newsletter. If you know anyone who is considering buying or selling real estate, please let us know, and have a great day!
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