All Blog Entries by BJ Matson

BJ Matson, Realtor® • Home Buying Advisor

 I have lived here in Montgomery County, Maryland my entire life.  I have been working the real estate and mortgage markets here since 1993.  Here on my Blog page I try to post relevant information to owning your home and buying here in Maryland... or selling here in Montgomery County.  You can learn more about me here, bjmatson.com
Feel free to comment on the posts or contact me directly. 

BJ MatsonRealtor®
Home Buying Advisor • RE/MAX
301-881-8900 text
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Found 86 blog entries published by BJ Matson.

Condos

Ask any lender or real estate agent and they can explain some of the difficulties when buying a condo.

There are over 150,000 condo projects, and "...only 6.5% are approved to participate in FHA's mortgage insurance programs."  FHA can be a great way for many first time buyers to purchase their first home.  A condo most likely will be at the price most can afford.  Thus, something needed to be done with the condominium approval process.

Starting October 15 there could be between 20,000 to Bethesda condo60,000 additional units eligible through FHA.  

Here's a look at condos for sale under $400,000;

 

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350k / 5k / 2300

$5,000 needed at closing - $350,000 home - pay $2,300 a month

If your total household income is a minimum of $89,000 you may be eligible.  Below are some examples of listings that can be purchased with a total of $5,000 needed at closing.  Includes down payment and closing costs... and if you qualify, will be your estimated final amount needed to secure your loan for your new home.  
Estimated total monthly payment in many of below examples will add up to just around $2,300/month depending on amount of hoa and/or condo fees.  Monthly amount includes property taxes, condo/hoa fees, insurance... These numbers are accurate, but they are estimates, and exact figures can be calculated once a final sales price is negotiated and

507 Views, 0 Comments

downtown Rockville Maryland condosCondo for sale in Americana Centre
Rockville, Maryland
$258,900 sales price

Did you know you may be eligible to purchase this condo in downtown Rockville for a total of $4,000 out of pocket and a total monthly payment of $2,568... this payment includes your condo fee, which includes your utilities.
Qualify for this or one of the other low down - low monthly payment scenarios listed below.
- more Rockville condos for sale


estimated total 
payment
*utilities are included!
$2,568 - 0% down (not va or usda)
$2,652 - 3% down
$2,614 - 5% down
$2,320 - 5% down special

estimated total funds needed
$4,000 - 0% down
$18,900 - 3% down (ask me how to get this down to $11,100)
$23,500 - 5% down (ask me how to get this down to $16,000)
$23,500 - 5% down special ("... 16k)

110 Views, 0 Comments

Damascus livingHouse for sale
Damascus, Maryland
$399,900 sales price

You may be eligible to purchase this price Damascus home for a total of $5,500 out of pocket and a total monthly payment of $2,351. Qualify for this or one of the other low down - low monthly payment scenarios listed below.
- Damascus homes for sale

$399,900
estimated total 
payment - includes property taxes, mi, insurance, hoa fee;
$2,351 • 0% down (not va or usda)
$2,521 • 3% down
$2,424 • 5% down
$1,969 • 5% down special

estimated total funds needed at closing;
$5,500 • 0% down
$25,900 • 3% down (ask me how to get this down to $13,900)
$33,900 • 5% down (ask me how to get this down to $21,900)
$33,900 • 5% down special ("... $21,900)

minimum total household income needed to qualify;
$91,000 • 0% down

91 Views, 0 Comments

Germantown Estates townhomesTownhome for sale in Germantown Estates
$369,000 sales price

Did you know you may be eligible to purchase this home for a total of $5,000 out of pocket and a total monthly payment of $2,245?
Or you may be eligible for one of the other low down low payment scenarios listed below.

 

estimated total payment
$2,245 - 0% down (not va or usda)
$2,397 - 3% down
$2,297 - 5% down
$1,904 - 5% down special

estimated total funds needed
$5,000 - 0% down
$24,000 - 3% down (ask me how to get this down to $19,000)
$31,000 - 5% down (ask me how to get this down to $26,000)
$31,000 - 5% down special ("... 26k)

minimum household income to qualify
$87,000 - 0% down
$103,000 - 3% down
$99,000 - 5% down
$82,000 - 5% down special

further cost savings
$461 - 1st time buyer

138 Views, 0 Comments

Creating Wealth through Home Ownership

Real Estate can be the best way to get on the path to real wealth.  About 90% of Millionaires are wealthy through real estate.  Whether you're ready to buy now, or, we sit down and create a specific plan now for YOU to buy in the near future... the sooner you decide to commit to this outcome the sooner you can start building Equity!  Did you know there are opportunity zones in Montgomery County?
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You hear the term 'Redlining' and the effects on lower-income neighborhoods. It's a topic frequently discussed... and we're seeing it make the news more and more. One issue, are properties within these areas that are shells or foreclosed… thus affecting the value of neighboring homes.  Appraisers need ‘sold…
921 Views, 0 Comments

100% financing • $0 down

100% • There is another loan program (not VA or USDA) available that does not require a down payment.  VA loans and USDA loans are the 2 programs most Lenders refer to when they advertise "No money down!" or "100% financing".  It's a great headline to get you to inquire with the Lender and from there they hope to get you into a program.  Any program.  

In fact, there are a couple other $0 down programs in this area.  The cheaper option (lower rate), requires that your total household income is under 115k.  Most of the properties in our Montgomery County area and Maryland are eligible.  No mortgage insurance, and no 2nd loan to pay back.  Of course good credit is required.  Don't forget in most scenarios there is still $ you

12,466 Views, 5 Comments

My average water bill has been about $120 for every 3 month billing cycle ($40/month).

water bill


Imagine my shock when my latest bill was over $1,000 !

water bill WTF

This happens to homeowners more than we realize.  Whether from a burst pipe while on vacation, or outdoor spigot left open, or as in my case a toilet flapper that wasn't making a complete seal.

I called WSSC and they walked me through a few steps on my Water Meter, first.  We determined the meter was working and matched their outside reading that was taken.  There was no way around it, I had to find the source of the leak and stop it.

WSSC told me to fix the issue, and to then call them back.  They allow for this to happen to their customers 1x every 3 years, and they will ADJUST the bill.  Thank God

515 Views, 0 Comments

Go to ->> Maryland Dept of Assessments & Taxation website:
Enter address...

 

 

 

 

 

 

 

 

NEXT SCREEN:

Click link below 'Account#' on far right

 

 

 

 

 

 

 

NEXT SCREEN:

Records go all the way back to 1999
"Click" under View at far right, to see FULL PROPERTY TAX BILL

 

 

 

 

 

 

 

 

 

 

 

NEXT SCREEN:

You'll be shown the complete TAX BILL
(Make sure you have filed for your Homestead Tax Credit)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

45,938 Views, 0 Comments

Can be found here... plats.net

For tax map and other tax information go to the Maryland Department of Assessments & Taxation website

 

 

 

NEXT SCREEN:

 

 

 

 

NEXT SCREEN:
Click "View Map" in upper right-hand corner

 

 

 

 

 

 

 

 

 

 

NEXT SCREEN:
You did it, you found the Plat


 

 

 

 

 

 

 

 

 

 

 

 

 

 

10,772 Views, 0 Comments