PG County Real Estate

This is the second post in a three blog series. For details on the effects of foreclosure on affluent communities and Metro areas, visit Part 1 & Part 3.

Foreclosures have Affected People of Color the Most:

The foreclosure numbers are abysmal and it’s even more terrifying to see that 2010 will see over one million foreclosed homes by the end of the year.

But has the crisis affected everyone equally? Apparently not! A study done by the Center for Responsible Lending hinted that about 4.5 percent rate of foreclosed homes belonged to the Whites, whereas nearly double that rate was true for the African-Americans and the Latinos.

Foreclosures are not easy on anyone... but who are they really affecting?

In fact another report suggests that approximately 17% of Latino homeowners and 11% of African-American homeowners have lost their house to foreclosure, which adds up to hundreds of billions of dollars!

In a bad economy, high levels of unemployment have not just collapsed the financial markets but also sliced the housing sector. Besides, the economic drain has been increasing, thanks to foreclosures itself, but also because of the effects of neighboring property values that have declined due to foreclosures. Experts say that from 2009 to 2012, those owning properties near foreclosed homes in the Latino and African-American communities would have seen a cumulative drop of more than $350 billion on their property value.

Economic ups and downs are an inevitable cycle, but if you’re looking to invest in a house, you couldn’t find a time better than NOW! And Express Realty Services is here to help. Having sold over 800 homes in the past 5 years, we can comfortably assure you that you can find a house that’s just right for you and your family.

Just call us at 888-306-9450 or visit our website to chat with a representative about how to get started.

This series will be continued. For more insights on foreclosure trends, continue to read our blogs.

If you have any tips or suggestions that you’d like to share, please feel free to comment on this blog post.

This is the first post in a three blog series. For details on the effects of foreclosure on People of Color and Metro Areas, visit Part 2 and Part 3.

Foreclosure Demographics in the Affluent Communities:

Foreclosed homes have been on an all-time rise. In fact reports suggest that 1 million American households would have undergone foreclosure by the end of 2010.

But if you thought that the foreclosure crisis only hit people from low income families, you may want to reconsider given current trends. According to the Baltimore Sun, “counties with high incomes and pricey housing were among the hardest hit.” Besides, the most affluent counties with a median income of $70,000 saw a 50 percent increase in foreclosure rates.

Where are these communities headed? Are they bound to become what Carol Lloyd of the San Francisco Chronicle calls them – slumburbs?

Buying a house is one thing, maintaining it is a whole other process. If you know what you’re getting into, foreclosure is bound to be the least of your worries.

If you’re looking to settle in or around Prince Georges County, Express Realty Services could help. With lowest interest rates in years, you could get a beautiful house that’s well within your budget.

For more questions or concerns, feel free to call Express Realty Services at 1-877-9EXPRESS (1-877-939-7377)

This series will be continued. For more insights on foreclosure trends, continue to read our blogs.

If you have any tips or suggestions that you’d like to share, please feel free to comment on this blog post.

The New Closing Deadline is September 30.

Signed a contract on a new house but couldn’t close the deal by June 30? Worried that you lost out on the tax credit advantage you were going to get?

You’ve a reason to smile! The $8000 home buyer tax credit closing was extended by the Senate and has been passed by Congress!

Here's a chance to save more money on your house.

What is the $8000 tax credit benefit? If you’re a first-time home buyer, or a home buyer signing a contract on a new house as the primary residence, you can get $8000 and $6,500 respectively as a tax credit benefit. All of this only if you close the contract by September 30. The initial deadline for closing was June 30, but now you have another three months!

Excited? Imagine how much you will save when you file for your taxes!

If you’re looking to buy a home and don’t know where to start, we can help. 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!

Just call Express Realty Services at 1-877-9EXPRESS (1-877-939-7377)