Maryland Real Estate Resource

The Ferrante & Fisk Team
"Building relationships while offering exceptional service."

Request A Free Brochure

Providing a Superior Level of Informed, Professional Real Estate Services to Buyers and Sellers in the Greater Anne Arundel County Area as Well as the Baltimore and Washington Area Markets.

Visit our blog @ Naptown Real Estate for market updates about Anne Arundel County and surrounding area's.
SELLERS!
If you're planning to sell your home in the next few months, this FREE service is designed to help establish your home's current market value. Simply choose Market Analysis and fill out the requested information. We will use comparable sold listings to help you calculate the fair market value of your home. Let our experience work for you! Contact us today to begin the search for your new home today or list your property to sell. Our marketing program for sellers is second to none! We utilize the latest in technology to market your property as well to stay in constant contact with our clients. Whether you are interested in purchasing a resale property or new construction, building your own home, or an investment property, let our team's knowledge and experience work for you.

BUYERS!

Automatically receive personalized MLS listings by e-mail. Early each morning we will search the local MLS and find the homes that match your criteria and notify you immediately with the latest listing information!! Simply choose Dream Home Finder and fill in the requested information. Or, search for yourself at Search For Homes.
The Ferrante & Fisk Team
Coldwell Banker Real Estate
(800) 456-1996 x2542 Contact Us

Specialization
We specialize in representing our clients in the purchases and sales of; single-family, townhouse, condominium residences and income property within the Central Maryland Region. We keep current of all transactions in these areas, and we're also very knowledgeable about the local schools.

We also represent clients interested in purchasing commercial property in the Baltimore-Washington-Annapolis area. As well as market research pertaining to commercial markets.

Serving Anne Arundel, Calvert, Prince Georges, Queen Anne's, Howard, and Baltimore counties. Specializing in short sales, foreclosures/REO, first time home buyers, new construction, and investment properties. We work with several custom builders and will guide through the entire process from finding the perfect lot to building your dream home. Our team includes buyer agents and listing agents. Let our experience work for you! Contact us today to begin the search for your new home today or list your property to sell. Our marketing program for sellers is second to none!


Call Us Today
The Ferrante & Fisk Team
Coldwell Banker Real Estate


Ferrante & Fisk Team
Coldwell Banker Real Estate
170 Jennifer Rd.,Suite 102
Annapolis, MD 21401
Toll Free: (800)456-1996
Lynne's Cell: (301)742-1542
Greg's Cell: (410)507-7262
Office: (410) 224-2200
Fax: (410) 224-2258

www.MarylandHome411.com
Visit our blog @ Naptown Real Estate

Email: ferrantefisk@gmail.com

Request A Free Brochure

Certifications and Recognitions
NAR,MAR,AACAR,GRI (Graduate Realtor Institute),Housing Commission Key Choices Certified, Commercial affiliation AACIA


Do You Need To Transfer Home Services & Utilities? Click here!



Mission Statement:

To provide superior client service, education, consultation, and representation to you in a step by step approach with our ultimate goal being to make you, our valued client, comfortable throughout the entire high trust buying or selling experience. We promise ongoing communication with you and the ability to proactively handle all of your questions, concerns, and needs in a timely manner. For our valued clients, we provide a professional sales or marketing person with excellent communication skills to negotiate on your behalf to ensure you get what you deserve, if buying- the home of your dreams for the right price, under the proper terms and conditions, if selling- the maximum price for your home in the shortest period of time, with the least amount of issues!

By providing our sales, negotiation, educational, and consultative services to you, we will, throughout our time together, develop a high trust relationship that will continue for years to come. We promise to keep in touch with you and to provide the same level or superior service you received to all of your family, friends, neighbors, and coworkers you refer to us. Unlike others, our service will not end there. It will have just begun… Thank you in advance for the opportunity to serve all of your real estate needs.




In The News


Short Sales


a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower's financial situation.
A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank will typically determine the amount of equity (or lack of), by determining the probable selling price from a Broker Price Opinion BPO (also known as a Broker Opinion of Value (BOV)) or through a valuation of an appraisal. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.
Lenders have a department (typically called "loss mitigation") that processes potential short sale transactions. Today, lenders may accept short sale offers or requests for short sales even if a Notice of Default has not been issued or recorded with the locality where the property is located. Given the unprecedented and overwhelming number of losses that mortgage lenders have suffered from the 2009 foreclosure crisis, they are now more willing to accept short sales than ever before. This is great news for borrowers who are "under-water" or in other words those who owe more on their mortgage than their property is worth and are having trouble selling to avoid foreclosure because of this.
Lenders have a varying tolerance for short sales and mitigated losses. The majority of lenders have a pre-determined criteria for such transactions. Other distressed lenders may allow any reasonable offer subject to a loss mitigator's approval. Multiple levels of approvals and conditions are very common with short sales. Junior liens - such as second mortgages, HELOC lenders, and HOA (special assessment liens) - may need to approve the short sale. Frequent objectors to short sales include tax lien holders (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even when unrecorded) and mechanic's lien holders. It is possible for junior lien holders to prevent the short sale. If the lender required mortgage insurance on the loan, the insurer will likely also be party to negotiations as they may be asked to pay out a claim to offset the lender's loss in the short sale. The wide array of parties, parameters and processes involved in a short sale makes it a relatively complex and highly specialized type of real estate transaction which is why unfortunately short sale deals have a high failure rate and often do not close on time to save homeowners from foreclosure when they are not handled by a knowledgeable and experienced professional. The best sources of knowledge and expertise in short sales are short sale negotiators, loss mitigation specialists, and real estate lawyers who specialize in short sale.

One thing a buyer should know about a short sale is there is no necessary commitment by the bank to sell the house. When the bank completes a short sale they have to write off the difference between their loan amount and the lesser proceeds from the escrow, something they wish to avoid. You may go through all the paperwork to make an offer on the house, pay for inspections, and put down a deposit to start the sale process. After you have made your offer, the bank may try to convince the seller to refinance their loan and stay in the house, which avoids the bank having to take the write off. Some real estate listings now make a distinction between a "bank approved short sale" and a situation where the seller hasn't really communicated their intentions to the bank (short sale). So if you have a fixed time period to get in a specific area you may be better off with a foreclosure (the bank formally took possession of the property) or a situation where the seller has equity.

A short sale does adversely affect a person's credit report, though the negative impact is typically less than a foreclosure. Short sales are a type of settlement. Like all entries except for bankruptcy, short sales remain on a credit report for seven years. Depending upon other credit information it is typically possible to obtain another mortgage 1-3 years after a short sale.
While it is frequent if not common for a lender to forgive the balance of the loan in question, it is unlikely that a lien holder that is not a mortgagee will forgive any of their balance. Further, it is common for a lender to omit updating mortgage balances zero balance after a short sale. However, willfully misrepresenting information on a credit report can constitute libel in some jurisdictions, and lenders may be sued in civil court for engaging in this behavior.


Mortgage Forgiveness Debt Relief Act of 2007 - U. S. legislation affecting short sales of residential property.


BRAC

Federal Military Base Realignment and Closure (BRAC)
The State of Maryland as a whole fared extremely well when the President approved recommendations from the Federal Military Base Realignment and Closure (BRAC) Commission and the Congress passed them into law in 2005.

As a result of these actions, both Andrews Air Force Base (AAFB) in Prince George’s County and Fort George G. Meade (Fort Meade) in neighboring Anne Arundel County will add new missions and personnel. As many as 2,700 new personnel (both BRAC and non-BRAC related) have been projected for Andrews Air Force Base, with another 22,000 personnel being added at Fort Meade –if growth at NSA is included. For the counties in Maryland that host these military bases, the attendant opportunities to attract new residents and business growth in the years leading up to 2011 and beyond are huge. For example, Prince George’s County expects to add another 14,000 spin-off jobs and 10,000 new housing units by 2020 as a result of BRAC and other military mission growth.

In order to plan effectively for this growth, Prince George’s County has created a BRAC Coordinating Committee of representatives from county agencies, educational and training institutions, elected officials and interested citizens to provide input, advice, and guidance to County, State and Federal officials as the recommendations of BRAC 2005 are implemented.

Relocating due to BRAC Contact Us we can help!




1031 Exchange

A tax deferred exchange that allows for the disposal of an asset and the acquisition of another similar asset without generating a tax liability from the sale of the first asset. This can include the exchange of one business for another or one real estate investment property for another property. An 8824 form must be filed with the IRS detailing the terms of the deal.

This is also known as a "1031 exchange".

Investopedia Says:
There are several important considerations with this type of exchange to ensure that a tax liability is not created upon sale of the first asset:

1. The asset being sold must be an investment property and can't be a personal residence.
2. The asset being purchased with the proceeds must be similar to the asset being sold.
3. Te proceeds from the sale must be used to purchase the other asset within 180 days of the sale of the first asset, although you must identify the property or asset that you are purchasing in the like-kind exchange within 45 days of the sale.

There are some limitations on the amount of capital gain that is tax deferred, so ensure that you check the latest tax rules before proceeding with a like-kind exchange.
Want to learn more?

Need to speak with someone about how you can increase your return on your investment property Contact Us we can help!


Foreclosures

Before choosing to purchase a foreclosure home there is a great deal of information that you need to gather to make sure that you get yourself a bargain. If you take the time to do your research you could quite possibly make some very good savings when purchasing a foreclosure home. So make sure that you take your time to do this research to make sure you make the right choice.

One very important thing to do is to speak to a qualified REALTOR. By doing this you can find out some very important information about the home you are looking at. Ask them about everything you can think of and do not be afraid of holding back. They are there to help you so it is important that you know what to ask them.

You need to be aware that there could be some serious problems with the home you ask thinking of buying. You need to make sure that you find out about these before you buy otherwise you could end up with a home that you are not happy with. Doing your research and finding out about things like this in advance will make all the difference when you make your purchase.

It is just as important for you to find out about this as it is to find a perfect foreclosure home at a bargain price. You won't find out this information overnight, you will need to be prepared to make a lot of phone calls and be willing to sit through numerous meetings to get this information. You will also need to do plenty of bargaining too.

You should do a title search in order to determine exactly which foreclosure homes in your area have any problems that may not have been listed. If you need help to do this search you could look at using the services of a title agency who will be able to help you. If you don't know of any title agencies off the top of your head you can ask your REALTOR who thay would recommend.You should be able to locate one very quickly.

Of course you shouldn't just rely on other people to find out all the information about a foreclosure home for you. You also need to be willing to research things yourself and see if there's a better way of doing things. By putting the effort in at the start and doing your research you will stand a much better chance of getting yourself a bargain.

Want to learn more?

Search for HUD Homes in Maryland

If you are serious about pursuing an investment in a Foreclosure property please Contact Us we can help!