PG County Real Estate

Ordinarily when companies relocate, it’s often bad news for one city and county and good news for another. In the case of Vocus Software, relocating meant moving in their own backyard, from Lanham, MD, to Beltsville, MD, both in our very own Prince Georges County (PGC). Though the cities’ tax bases will be affected, it’s a win-win for PGC.

Vocus, a software firm previously located in Lanham, MD is making plans to move its headquarters to Beltsville, MD. Vocus is planning an innovative new office design that will incorporate the look of a town but will be built inside a warehouse. For example, their plans include designing the mail room to make it look like a post office, and designing the finance area to look like a bank. The design for the new offices may also include a town square and a coffee shop and is expected to be completed within the next couple of weeks.

Rick Rudman, the President and Chief Executive of Vocus feels that this environment will allow employees to be more productive while still allowing them the opportunity to have a good time at work.

Rudman noted that “People are creative and energetic at different times of the day, and they need to relax and blow off steam at different times of the day, so that’s what our environment supports. The new building is really just taking that to the next level.”

The new Vocus complex will be located in Ammendale Business Park and will cost anywhere between $7 and $8 million dollars. This upgrade will create 93,000 square feet of office space, which is almost double what Vocus has currently.

It has taken almost a year for Vocus to finalize their new location. The 10 year, $20 million lease was decided after Prince Georges County Economic Development Corporation and has provided a $1.1 million incentive package in combination with the State of Maryland. The incentive package includes a low interest rate loan as well as tax credits for property and job creation. The incentive package was provided to Vocus based on the fact that they were staying in the same county and would be utilizing the county’s workforce, infrastructure, and supportive business environment. The new headquarters building could be up and running as early as February 2011.

PGC is a great place to live and work.  Express Realty Services can show you affordable homes right here in the county that qualify for the homebuyer’s tax credit or maybe other local programs. As the #1 Keller-Williams franchise, we are prepared to help you buy (or sell) a home quickly. Please contact us at 888-306-9450 or visit our website to chat with a representative about how to get started.

Zoning is often a sleep-inducing subject for most people – until it affects them. That’s when people begin to lose sleep! Capitol Heights residents recently took aim at revitalization plans for their city in a recent public hearing. They worry that the proposed development could disrupt city life!

In 2008, $45,000 was provided to the town as a community legacy grant from the State of Maryland to complete the Town of Capitol Heights Community Legacy Revitalization Plan and chart out the future economic and residential development for the area.

To create the plan the town hired Green, McDaniel and Associates, LLC, a community planning firm. The firm was to complete renderings and hold several community meetings to gather input from the residents on their ideas for the revitalization plan. The finished plan aims to develop an “economic engine” in the city, according to the firm’s president, David Green.

They came up with several recommendations for the revitalization plan, including:

• Creating a mixed use development around the Capitol Heights Metro station. An example of a mixed use development would be residential accommodations over retail stores.
• Give office space to local universities so that it can be used for workforce development classes for residents.
• Redevelop Old Central Ave., the town’s main street as a commercial strip to keep shopping dollars in the city.
• Make Walker Mill Industrial Park a target for small businesses and “green” jobs.

Councilwoman Marnitta L. King worries that if more of the town is zoned commercially, residents would not be able to rebuild in case of a fire or other disaster. If more high density housing is developed, residential streets might become de-facto with an overflow of parking lots. Besides, residents might not like suddenly being in the midst of towering apartment buildings.

Residents concede that providing additional training to people is fine, but there are no commitments that jobs will stay within the city and may still end up going to more qualified candidates from outside town. Green responded that while he was unable to guarantee jobs for those who were retrained, he wanted to create an environment of opportunity using workforce development.

Residents are also concerned about increasing development around the Capitol Heights Metro station. There also are concerns about what will happen to existing housing areas.

Councilman Kito James indicated that the council was scheduled to vote on the plan on April 12. However, he noted that he had some personal concerns with the current plan and felt it should be revised and voted on again in May.

Regardless of how things shape up, Capitol Heights is convenient to DC and offers affordable homes for growing families.  Express Realty Services can find you a great affordable home in Capitol Heights. As the #1 Keller-Williams franchise, we are prepared to help you buy (or sell) a home quickly. Please contact us at 888-306-9450 or visit our website to chat with a representative about how to get started.

The new healthcare law recently signed by President Obama will provide healthcare insurance for 170,000 to 190,000 currently uninsured residents of Prince Georges County. Since there is no discrimination by diseases and aging, the ability to increase the amount of residents that are covered by insurance will help to bring up the level of health care for the entire county.  An additional benefit of the new law is that it will provide Prince Georges County with the opportunity to improve its health care infrastructure.

The law, which takes effect by 2014, makes several important changes.  These include:

- Allowing no discrimination by insurers for those with pre-existing conditions like diabetes, cancer, asthma or high blood pressure. 

- Dependants can now stay on their parents insurance until age 26 instead of losing their coverage at 19. 

- People without employer based insurance will be able to get income based subsidies.  

-Employers that currently don’t provide health insurance will be required to provide it to a certain amount of full time employees or be fined.

- Seniors on Medicare part D may be eligible for an additional $250.

While offering help to local citizens, the new law offers some new challenges for Prince Georges County. One of these is a lower number of health care providers in the county compared to surrounding areas.  With the additional number of people that will soon be insured, there is a real possibility that the current infrastructure will not be sufficient for all residents to receive their preventative and primary care within the county.  This could cause a bit of a hardship for residents that don’t have ready access to transportation within, muchless outside of, the area.

Clearly, it is now a priority to attract more quality health care providers and health care professionals to Prince Georges County.  This provides a great opportunity to take this challenge and use it to leverage new laws that will help to improve the overall healthcare for the county.

Prince Georges County is a great place to live and work.  Express Realty Services can show you affordable homes right here in the county that qualify for the homebuyer tax credit or maybe other local programs.  Please contact us at 888-306-9450 or visit our website to chat with a representative about how to get started.

The federal government has initiated a new program, Cash for Appliances encouraging people to give up their ancient, less efficient household devices for new state-of-the-art Energy Star rated appliances.

Why? Well, older appliances tend to be more expensive for customers as they guzzle more energy units and are less eco-friendly as compared to the newer models.

In keeping with environmental concerns, it’s no coincidence that the Cash for Appliances program in Maryland will kick-start from Earth day, April 22, 2010. The government has set aside a whopping $5,405,000 for the state of Maryland alone, and will be available to state residents as long as funds last.

Looking to buy a home in Maryland? Call Express Realty Services today at 1-877-9-EXPRESS (1-877-939-7377) for a home in College Park, Capitol Heights, District Heights, or any other city in Prince Georges County, or other parts of Maryland.

So you’ve gone through pre-approval, know what you’re looking for, have spoken to the lender and have run through the list of things to consider before house hunting. You’re excited and ready to select a house that can now become your home. The challenge – you’re contemplating between three (or five) houses that seem so close! It’s just difficult to make the right choice.

Don’t sweat it! And don’t second guess yourself! Here’s how to eliminate the guesswork:

• Disclosure details: When you’re looking to buy a house, DO NOT forget to look at permits, proof of inspection & other disclosure details. These will give you a fair idea of how the house was maintained, if it had any damages or survived a fire. It would also give you information on the condition and lifespan of the appliances, when the roof was fixed last, etc – like getting a Carfax Report for your home.
• Investment opportunities: Sometimes people look for homes that address only their immediate needs. You must ask yourself, ‘What would make it hard for me to sell this house in the future?’ This would encourage you to check out your neighbor’s property which can directly affect the value of your own. It might also make you reassess your choices. For instance even though you need a two bedroom home, you might reconsider a three bedroom one only because it would give you more value if you tried to sell it. If you live in the city, buying a house with parking space or having the option of ample street parking may be a vital deciding factor – because such factors are great selling points if you have to move elsewhere.
• Weighing all options: When you do have many choices, don’t take them at face value – weigh your pros and cons equally. An emotional impulse might not always bring you the best value for your buck. It’s advisable to make your choice based on prioritizing between what you need and what you want, along with the information you receive from the disclosure details. As an illustration, you like two houses in a given neighborhood. One listed at $300,000 and the other at $305,000. The first house has a creaky obsolete furnace and a runny old refrigerator. While contemplating on both houses, you might want to make your decision after including the costs involved in fixing or replacing these appliances.

Have you been looking for that perfect affordable home in the DC metro area? Express Realty Services has a great selection of homes to fit your budget.  We can even show you our latest remodeled and renovated homes from our sister company, Express Homebuyers!  Call today at 1-877-9EXPRESS (1-877-939-7377)  or visit the Express Realty Services website.

There are numerous reasons why people choose home ownership. Some look at it purely as an investment, some for the benefits it brings through tax deductions. Yet others look at homes from an emotional perspective – when they feel like owning one with a partner or spouse; when they wish to access more memories on a particular street, or when they just want to bask in the pride of ownership.

Whatever your reason, you want to take time out and answer some of these concerns before you zero in on a place that you might call ‘home.’

• Do I need to get pre-approved? Even before you start house hunting, it is vital that you go through the pre-approval process. This step gives you a better insight on your credit score, and would help you decide if you are really ready to buy a home now. If you are, it would also confirm what size mortgage you can get and at what rate of interest. People who skip the pre-approval process in the initial phases are often disappointed during their search – because they might set their eyes on a home that’s way beyond what they can currently afford.
• What price range? Each one of us would love to own a million-dollar home! If you can buy one – great!! If not – don’t try to shoot yourself in the foot. Be very realistic. Even if you have been pre-approved for a certain amount, consider your interest rate. You should be able to pay your monthly mortgage without going broke. It’s not about just owning a home – you want to live comfortably. Right?
• What I really need vs what I really want? Condo or townhouse? Close to the metro or close to the mall? In the heart of the city or closer to a school district? Two bedroom, three bedroom, or four bedroom? Choices. Choices. Choices! You’re always going to debate on what to settle for, but you’ve got to keep your priority list handy. Even though the offers might be tempting, always make your decision based on your needs.
• Does it count that I love this house? Sometimes it just feels right! We just get into a house, or a neighborhood and we can see ourselves growing old on that street. While this is a perfectly acceptable process, don’t get emotionally attached to a place. And if you do, make sure you back it up with a rational approach. House purchases are often spurred by our emotions. But we have to have some foresight relating to property value, equity, and how much it pinches our pocket per month.
• Do I need to talk to a lender? Yes. Speaking with lenders is an essential step since they help you fetch a loan based on your credit history. Make sure that you ask them about government assistance programs and other programs like FHA that you could qualify for (link one or two of our previous blogs). This could help you with a reduced interest rate, or a lower down payment or both. However, it’s also important to know who you’re talking to. If you are wary about one lender’s advice, go ahead and talk to a couple more. You might just find some differences in price, rate of interest or services that you receive.

Looking to shop for your first home in Prince George’s County? Need assistance? Express Realty Services is here to provide you with a variety of listings including the best in new construction, ready-for-sale pre-owned homes, as well as beautifully renovated homes acquired for cash by our sister company Express Homebuyers.  Contact us or call us at 1-877-9EXPRESS (1-877-939-7377) today for the best properties in DC, MD, or VA.

Foreclosures have never been easy on anyone. You lose your home and the memories you built in it. What’s worse – your memories may continue to haunt you as your credit scores take a bashing. Now wouldn’t it be easier to have a short-sale? Well, that’s if you’re lucky enough to retain a potential buyer.

Well, things don’t look as dreary anymore! With the congressional provisions that have modified the short-sale process from April 5, 2010, many sellers have a reason to smile.

Through the Federal Government approval, the HAFA (Home Affordable Foreclosure Alternatives) has developed a new government program through which short-sales will happen more quickly and through more standardized rules across the board, some of which include incentives for lenders.

According to the Wall Street Journal, the systems in place discouraged short-sales indirectly due to the time gap. So for instance, if a distressed seller had a potential buyer who was willing to buy the house at a price that was lesser than the amount owed on the loan, it would take forever to materialize. The banks would go through a new appraisal process, reconsider broker opinions and then get back to the seller, which would take a good amount of time (anywhere between 30 – 90 days). By this time, in most cases, the seller might have lost the buyer who chose to move on to another property.

The new rules have proven to be a breath of fresh air. Here are some of the approved guidelines:

• To be considered as a seller, you must be unqualified for a loan modification; or should be unable to afford the modification.
• Unlike previous circumstances, banks are now expected to appraise the property before listing. Based on the appraisal the bank then sets a minimum acceptable value for the home in question.
• After being sent a purchase offer by you (as a seller), lenders must approve or deny this offer within 10 days of submittal.
• Post approval, you can stop paying all related mortgage payments. This will not affect your credit score.
• When a closing is reached, you are entitled to as much as $1,500 from the government for relocation expenses.

Many homeowners & sellers are ecstatic about the new changes that will affect short-sales. They also seem to be beneficial to the government – an occupied house/neighborhood brings in more taxes to the government.

In addition, short-sales have their own advantages for buyers, who can now find more wiggle room in their negotiations over distressed property. But let’s not take that at face value! Many distressed properties come with financial burdens. So it is important for buyers to clarify in the contract itself stating that they will not be responsible for any of the seller’s unpaid property taxes, liens or second trusts. It’s important to do your homework before you seal the deal.

Need to consider a short-sale for a house? Contact Express Realty Services today. Just call Express Realty Services at 1-877-9-EXPRESS (1-877-939-7377) and we’ll guide you through the entire process.