The REAL Story of Thanksgiving

"On August 1, 1620, the Mayflower set sail. It carried a total of 102 passengers, including forty Pilgrims led by William Bradford. On the journey, Bradford set up an agreement, a contract, that established just and equal laws for all members of the new community, irrespective of their religious beliefs. Where did the revolutionary ideas expressed in the Mayflower Compact come from? From the Bible. The Pilgrims were a people completely steeped in the lessons of the Old and New Testaments. They looked to the ancient Israelites for their example. And, because of the biblical precedents set forth in Scripture, they never doubted that their experiment would work."

Now, you know the usual story of Thanksgiving: They landed. They had no clue where they were, no idea how to feed themselves. The Indians came out, showed 'em how to pop popcorn, fed 'em turkey, saved 'em basically -- and then white European settlers after that basically wiped out the Indian population. It's a horrible example. Not only is that not true, here is the part that's been omitted from what is still today taught as the traditional Thanksgiving story in many schools. "The original contract the Pilgrims had entered into with their merchant-sponsors in London called for everything they produced to go into a common store,' when they got here, 'and each member of the community was entitled to one common share. All of the land they cleared and the houses they built belong to the community as well.

"They were going to distribute it equally. All of the land they cleared and the houses they built belonged to the community as well. ... [William] Bradford, who had become the new governor of the colony, recognized that this form of collectivism was as costly and destructive to the Pilgrims as that first harsh winter, which had taken so many lives. He decided to take bold action. Bradford assigned a plot of land to each family to work and manage, thus turning loose the power of the marketplace. ... Long before Karl Marx was even born, the Pilgrims had discovered and experimented with what could only be described as socialism,' and it had failed" miserably because when every put things in the common store, some people didn't have to put things in for there to be, people that didn't produce anything were taking things out, and it caused resentment just as it does today. So Bradford had to change it.

"What Bradford and his community found was that the most creative and industrious people had no incentive to work any harder than anyone else, unless they could utilize the power of personal motivation! But while most of the rest of the world has been experimenting with socialism for well over a hundred years – trying to refine it, perfect it, and re-invent it – the Pilgrims decided early on to scrap it permanently. What Bradford wrote about this social experiment should be in every schoolchild's history lesson. If it were, we might prevent much needless suffering," that happens today and will happen "in the future. 'The experience that we had in this common course and condition, tried sundry years...that by taking away property, and bringing community into a common wealth, would make them happy and flourishing – as if they were wiser than God,' Bradford wrote.

"'For this community (so far as it was) was found to breed much confusion and discontent, and retard much employment that would have been to their benefit and comfort. For young men that were most able and fit for labor and service did repine that they should spend their time and strength to work for other men's wives and children without [being paid] that was thought injustice.' ... The Pilgrims found that people could not be expected to do their best work without incentive. So what did Bradford's community try next? They unharnessed the power of good old free enterprise by invoking the undergirding capitalistic principle of private property. Every family was assigned its own plot of land to work and permitted to market its own crops and products. And what was the result?"

Here's what Bradford wrote, the governor of the Massachusetts colony. "'This had very good success,' wrote Bradford, 'for it made all hands industrious, so as much more corn was planted than otherwise would have been.' Bradford doesn't sound like much of a Clintonite, does he?" or an Obamaite, if I can update it. "Is it possible that supply-side economics could have existed before the 1980s? ... Anyway, the pilgrims found "In no time, the Pilgrims found they had more food than they could eat themselves. ... So they set up trading posts and exchanged goods with the Indians. The profits allowed them to pay off their debts to the merchants in London. And the success and prosperity of the Plymouth settlement attracted more Europeans and began what came to be known as the 'Great Puritan Migration.'"

Very few people have heard this story or have had it taught to them -- and the "thanks" was to God for showing them the way. In later parts of the chapter, I quote John Adams and George Washington on their reminisces and their thoughts on the first Thanksgiving and the notion it was thanks to God. It was an entirely different story than is being taught in the schools. It's been muddied down, watered down all these years -- and now it's been hijacked by the multicultural community -- to the point that the story of Thanksgiving is the Pilgrims were a bunch of incompetents and were saved only by the goodness of the Indians, who then were wiped out. And that's what kids are being taught today -- 'cause, of course, you can't mention the Bible in school, and that's fundamental to the real story of Thanksgiving.

"The Real Story of Thanksgiving, as written by Rush Limbaugh "See, I Told You So". Page 70 in the hardcover version
http://www.rushlimbaugh.com/home/daily/site_112608/content/01125111.guest.html

About Short Sales in Maryland, Harford, Baltimore County

What is considered a Short Sale in Maryland?

A Short Sale in a real estate transaction occurs when the outstanding loan on the property is greater than the proceeds from the sale of the house after all the closing costs, taxes, liens are paid. The home owner must meet all the qualifications of a short sale in Maryland. The Home Owners Lender must also agree to allow a short sale of the mortgage. Did you know your Lender COULD release you fully from your mortgage and forgive you of your deficiency? The HAFA program, if qualified, offers $3,000 back for relocation expenses. Some Lenders are also offering CASH incentives to homeowners to do a short sale instead of a foreclosure.

For More Information, Email me your contact information RobertMcArtor@Gmail.com and I can get the process started for you immediately!

Whether you are in Harford County Maryland, Baltimore County, Cecil County, Anne Arundel County, Baltimore City, We are here to help you avoid foreclosure and become a Bank Owned Property.

What are the Qualifications for Short Sale Help in Maryland?

Are you in financial hardship of any kind? i.e. relocation, divorce, loss of income, loss of job, major repairs to your home without money to make them, increased medical bills and or living expenses.

Behind on your mortgage, facing default or foreclosure?

Can’t get your home SOLD due to your mortgage balance that is greater than the value of your house in Maryland?

You may have other situations…just contact me and lets discuss them.

If you answered YES to any of these questions then a SHORT SALE in MARYLAND may be the answer for YOU!

We will discuss your situation with you, explain your options. Please remember that a short sale is NOT always the best option for every case.

We will provide you with the required forms and documentation from your lender in order for them to process the short sale of your home.

We will answer any of your questions you may have throughout the entire process. The best part is that your Lender pays all our FEES!

We are not investors trying to purchase your home or charge you a fee up-front to negotiate on your behalf. We are here to help you the best way possible and earn an honest commission.

Give us a call or email today and lets get started!

FHA Loan Change - Those who wait will pay thousands more this spring 2010

URGENT NEWS
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).

Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.

Here are a few reasons why:

On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.

Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.

There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March.

Got Your Swimsuit Ready? The Second WAVE of FORECLOSURES are coming in 2010!

We have all read the headlines in the newspapers, "We are in recovery!".

With home prices beginning to stabalize and Loan Modifications are being processed, we thought the worst was over.

But is it over?

The latest market study from Jacksonville, Florida's "Lender Processing Services" shows that mortgage delinquencies and foreclosures remain alarmingly elevated. They state that, "The number of loans deteriorating further into delinquent status is now more than twice the number of foreclosure starts, indicating another major wave of troubled loans in an already clogged loan pipeline". They go on to say, "Nearly one-third of foreclosures remain in pre-sale status after 12 months - twice as many as the year prior".

The ugly word that started this mess was Subprime Loans...then Subprime Adjustable-rate Mortgages (ARM's). Most of these mortgages were reset in 2007 and 2008...the tide receded and we thought.."recovery is here...finally". .....or is it?

No one is mentioning the SECOND wave of ARM resets and eventually....foreclosures.

This new WAVE of foreclosures will be difficult for the industry to handle. (Unless of course you are a potential buyer of one of these Bank Owned Homes). This new wave is primarily made up of "Option ARM's". Remember this name. These basically gave the borrowers the option of what they want to pay during repayment.

Many chose the option to make a smaller payment which is below the amount needed to cover the interest on the loan. This in-turn causes the mortgage balance to increase. They can continue to make the minimum payment until the mortgage balance increases to 125% of the original amount. What?...that's right...many loans are already their....125%! This is when the wave will start...we already seeing it happen now....just not in the drive-by media!

According to Whitney Tilson and Glenn Tongue of T2 Partners, about 80% of the Option ARMS's are negatively amortizing. These loans were set to reset in 5 years or 2011 but that reset is occuring now for many homeowner's....why? Because for many of the Option ARM's...they are so negatively amortized that they are hitting the automatic reset cap much earlier than expected....the wave is coming!

Can you imagine in this economy receiving a new mortgage payment 2 or even 3 times the amount you were paying before? As REALTORS we keep saying now is the time to buy!...I receive calls all the time from potential buyers looking for Bank Owned Homes in Maryland and Baltimore. If you are looking for purchase a Bank Owned Property or Home in Maryland and are looking for an experienced real estate agent, Robert McArtor with Long and Foster Real Estate, Inc. is your answer.

Why Choose Maryland HOMES Team? - I have negotiated deals for my buyers that they are very please with. I even purchased a Bank Owned Property for $100,000 under the Principle Mortgage Amount AND negotiated the bank to pay ALL my closing costs. I know how to do it...I know the timing...contact me today!

REAL ESTATE HOUSING OUTLOOK, December 2009 for Maryland Buyers and Sellers

There is currently 6.0 months of supply available, down dramatically
from the mark of 9.5 months seen at the same time in 2008.
Townhomes have the lowest months supply by far at 3.6 months,
while single-family detached homes and condos have 6.8 months and
6.7 months of supply, respectively.
Sales are up across the board, but the biggest gains in buyer activity
can be found in the lower price ranges.
The challenging conditions that sellers face in the upper price ranges
is evident when looking at how close (or far) they get to their original
asking prices and how long it takes them to sell. Above $1,000,000,
sellers are only getting 89.2 percent of their original prices, and their
homes are taking an average of 175 days to sell. Both numbers are the worst of both price ranges.

We Are BRAC Relocation Specialists
RELOCATING TO ABERDEEN, APG and BRAC RELOCATION SPECIALISTS, REALTORS®, REAL ESTATE AGENTS
Aberdeen is home to the U.S. Army's Aberdeen Proving Ground (APG). The proving ground was established by Act of Congress and came into operation in January 1918. The proving ground occupies more than 72,500 acres in Harford County. More than 7,500 civilians and 5,000 military personnel work at APG. Because of BRAC, Robert McArtor and his Auction and Real Estate Staff have been busy with helping civilians relocate to the Maryland, Harford County, Cecil County, Baltimore Areas. Auctions have become a viable option when purchasing homes in these areas. Maryland HOMES Team with Long and Foster Real Estate, Inc. is proud to be of service to anyone affected by BRAC. If you are looking for a home in these areas, you can become one of our VIP Buyers are start receiving listings TODAY that match your home buying criteria.
Under the Base Realignment and Closure (BRAC) program announced in 2005, Aberdeen will see an influx of people relocating to the area. If you are interested in purchasing your next home through the auction method or simply looking for an Active property on the market. Robert B. McArtor and his team is here to assist you in your relocation needs.
If you are looking for an experienced REALTOR®, Real Estate Agent or Auctioneer serving the Baltimore, Harford County, Baltimore City and Cecil County Area, your search has ended.
Whether you are Relocating to Maryland, Buying a Home, Selling a Home or considering the Auction Method of Marketing your property. Robert McArtor, REALTOR with Long and Foster Real Estate, Inc. and noted Licensed Auctioneer is here to serve you. Have your questions answered immediately by calling me directly

Harford County Maryland Real Estate Market Updates, November 2009

Harford County Maryland Market Updates
For More Information, Visit www.MarylandHOMESTeam.com
A free research tool from MRIS, Inc.

New Listings - 7.4%
Closed Sales + 4.5%
Pending Sales + 9.2%
Median Sales Price* - 7.1%
Percent of Original List Price Received at Sale*
- 0.8%
Average Days on Market Until Sale
- 1.3%
Single-Family Detached Inventory
- 11.5%
Townhouse-Condo Inventory
- 20.7%

Robert McArtor, Long and Foster Real Estate, Inc.
Buying a Home in Harford County? Click Here!
"$5,000 Additional Savings on Your Home Purchase in Maryland or We Pay You $500"

If you are considering relocating or moving to Harford County Maryland, there is one Real Estate TEAM to choose when you start your search for your dream home. Our extensive knowledge in the Harford County Real Estate Market will benefit you when purchasing your home. We have provided helpful links for you. From this page, you can also start searching for properties that are available. Let us start working for you TODAY! It starts with a simply searching for a home, filling out the email inquiry form and its that simple! One of our Team Members will contact you immediately to begin to work within your schedule to view the homes of your choice in Maryland, Baltimore County, Harford County, Cecil County Relocations

If you are one of the many affected by BRAC and are moving to Aberdeen Proving Ground, MarylandReady.com is a great website with many relocation services. Please Bookmark this page and begin your search for Harford County Homes in Maryland. Serving all communities of Harford County if you are Buying or Selling.

REO Properties vs. Buying Foreclosure Auction Properties, Buyer Protection is the key.

To start with, My name is Robert B. McArtor and I am a Real Estate Auctioneer in Maryland actively selling foreclosed properties through-out the state. I also have a Traditional Sales Team with Long and Foster Real Estate, Inc. http://www.MarylandHOMESTeam.com/

I have been auctioning properties since 1991 and well on my way to auctioning over $28 Million dollars worth of property in Maryland in 2009 alone. http://www.MDAuctionSales.com/

With that said I have experience in bidding on and buying property at the courthouse steps AND buying REO (Real Estate Owned) or "Bank Owned" properties in Maryland. I have sold my friends REO properties with 100% success and yes…even I purchased a Bank Owned home as my primary residence. I bring with this discussion a lot of experience in both ends of buying and selling bank owned and auction properties. Depending on your perspective and what you are ultimately trying to do with the property, your risks could be very high or very profitable.

AUCTION FORECLOSURE PURCHASE

The auction method of purchasing real estate can be the most profitable yet the most risky venture you can partake in. If you are looking to bid on and purchase a home and use it as your primary residence in Maryland, get yourself armed with all the information you need. Who better to ask than an Auctioneer selling Foreclosed Properties The key to a successful purchase is Due-Diligence. What does that mean? It means Do your homework first! Study the market in the area you are looking to live and know it! You do not want to be caught in a situation of over-bidding on a property.

There are several risk factors you will need to accept. One, The owner may still be living in the home. If this is the case, know that it is your responsibility to obtain possession of the property once you settle on it. This can be done in couple ways. You can offer the owner "Cash-for-Keys"…basically "I'll give you cash once you have removed your personal belongings, kept the appliances in place, didn't strip it of the fixtures and once we walk-through the property, I give you cash…you give me the keys". This can be a win-win for both parties, you get a clean home with minimal damage and the previous owner gets cash for a security deposit on his/her apartment. The amount may vary, I have had 100% success offering cash-for-keys and have paid out as much as $500 to $3,000 to the tenant or previous owner. It's all in how you approach the people. Remember, they are already emotionally spent. Don't make it worse.

1. Be prepared to give the Auctioneer the required deposit as spelled out in the advertisement. Remember, the ad IS the contract. Read it and understand it. If the deposit is $10,000 – You will need that amount in either cash, cashier's check (made payable to yourself then sign it over) in order to bid on the property. This is typically the only qualification the Trustee and Auctioneer require in Maryland. Do not come with a personal check unless your name is Senator so and so……then they will require double! Just kidding. No personal checks unless authorized by the Trustee prior to sale.
   
2. Do not focus on the debt amount owed on the property and assume it's the "starting bid" or "reserve bid" from the bank. Many properties are being offered BELOW the debt amount owed because the bank does not want to take on the added inventory of homes. Depending on location, as-is valuation, condition, etc. the bank may take a 20% to 50% reduction at the courthouse steps. Example, original principle mortgage amount was $100,000 in 2006. The owners made a few payments but fell behind. After penalties and interest, the amount is $109,000. The bank is requiring a $10,000 deposit. In the past, bidders have assumed the deposit is 10% of the banks starting bid or "reserve". This is not true! In many cases the bank will authorized a sale for much less than the amount owed. With this in mind…..bring your deposit and bid! I have sold many homes with only 1 person standing in front of me because bidders were scared of the deposit. Don't be. Experienced Investors know this and NOW you do too.
   
3. Ratification period. In most jurisdictions, it is taking approximately 30 to 90 days for the court to ratify or "ok" the sale. The interest rate published in the ad is what you will be paying on your bid amount from the date of sale to the date of settlement. The owner still has a right to file "exceptions" to the sale so don't assume you will only be paying the interest on 45 days or so. I purchased a property that took 8 months to settle! I was able to get 3 months of it reduced however that is only through the power of negotiating (pat on the back).
   
4. I have found that the sooner you contact the owner after you become the successful bidder on the property the better. Open that line of communication. Let them know you acquired their property through foreclosure and your intention is for a smooth, hassle-free transition..hence..cash-for-keys, etc. Your final option is an eviction but that costs time and money.
   
5. If you are purchasing this home for investment purposes, again, do your homework. Don't venture out on this alone. Find a mentor or someone who has done this before. I can't tell you how many "newbie's" show up at auction excited they are the successful bidders just to find out months later they overbid, did not work out their rehab numbers correctly, did not figure "going in" AND "going out costs", etc. I will not go into the details here but due-diligence is the key. Work closely with a Real Estate Agent who understands the mind-set of an Investor (me) and allow them to advise you on value, rehab, retail value, etc.
   
6. Last but not least, know that you will be paying BOTH sides of the closing costs. Remember, what you are signing is a No-Contingent (Not contingent on appraisal, your ability to obtain financing, home inspection), "As-Is" contract. If you do not settle, you could lose your deposit. I have seen it done many times. Concerning the financing, you need to be cash ready or obtain Hard Money for this purchase. You may have the option to refinance out of the loan later at a much better rate. Forget obtaining a conventional mortgage because you will not be able to conduct a walk-through appraisal. Some investors purchase with a HELOC but why use your own money. Your Bank or Mortgage Broker is there to answer your financing questions…know before you bid or it WILL cost you!
   

REO or BANK OWNED PROPERTIES

I am going to approach this scenario strictly as if you were purchasing a home to be used as your primary residence. Investors also purchase these properties and have done very well with rehabbing and either selling or using as a rental. I just represented a buyer/investor on a 4 bedroom, 2 bath Rancher with a 2 car garage on 1.15 acres for $150,000 in Jarrettsville!! It is being rehabbed now and will be ready for the retail market in March of 2010. My primary residence is a Bank-Owned property in Fallston, Maryland. It was initially purchased for $500,000 in 2005 and was foreclosed on. I purchased a beautiful Brick Colonial with a brand new kitchen – Jenn-Air Double Oven with a Cook-top Stove, In-ground Pool, 3 decks, gazebo, 3.5 baths, 2 car garage, new roof for less than $400,000 and negotiated the bank to pay ALL my closing costs! It can be done but only with an aggressive real estate agent who knows the REO business. I know how the banks think….I know how they operate….. I have bank owned listings.

1. After becoming financially qualified, Search for Bank Owned properties in the area(s) you want to live. How? Find a local agent that knows the REO market. Tell them you want bank owned listings sent to you immediately when they come on the market. Make appointments to see them. Many of the homes you will preview will need some sort of repairs done. Some more than others. Look past this initially. Think of the bigger picture. Ask yourself, "Is it the area I am looking for? Is it the right style of home? Can I work with these repairs needed? Does it work within my budget?" Just figure that every home needs AT LEAST paint and carpet. If you are thinking of other up-dates then evaluate those costs. Your agent may be able to help you estimate those initial costs.
   
2. If you like the home, ask for comparables in the area. You don't want to do the work that is needed and find out your saving $1,000 by buying a bank owned property. Most bank owned homes are listed 20% to 50% of retail based on a 30 day "as-is" sale AND or course….condition. We can help you experience that type of savings and will even guarantee it!
   
3. Before you start your search, make sure you are financially qualified. Let your bank or mortgage broker know what you are looking to do. If you only qualify for an FHA, there are certain things an agent must look for to make sure it will pass the appraisal process. I will not get into the details here only to say get an experience real estate agent to represent you to start the process.
   
4. What I love most about this type of sale for a buyer is that you ARE protected by the contract. Your agent can help protect you with a financing contingencies, appraisal contingency, mold inspection, radon inspection, home inspection, roof inspection, termite inspection, inspecting the inspector inspection (just kidding). Just know THIS….the more contingencies you put in the contract…the more difficult it will be for the bank to accept your offer over someone else's. Again, an experienced agent will help you negotiate your best deal. I know what the banks are looking for!
   
5. It is important that the contract is reviewed carefully. Banks many times will put verbiage in the contract stating they will pay NO closing costs. Then how is it I was able to negotiate the bank to pay ALL my closing costs AND reduce the price of the home by $100,000? Experience. Period. They may also limit the FHA repairs or ANY repairs they will do. Most will not do or allow repairs, just know that before signing the contract and undergo the expenses of hiring a Home Inspector, etc.
   
6. I have found that many times the bank will LIST a property for sale for less than what they would have taken at the courthouse steps. One reason is that most times the bank cannot evaluate the interior condition of the home. Prior to foreclosure they will order what is called a BPO or "Broker Price Opinion". This is basically an in-expensive appraisal. Most of the time it is a "drive-by" appraisal evaluating only the exterior condition. The bank will base their value on the condition, area comparables and whether the market is declining, etc. Once the bank acquires the property, the Real Estate Agent assigned to the property will verify occupancy, provide an Interior BPO for the Bank and prepare it for sale. The BPO will paint a picture for the bank as to the condition of the interior of the home. This is where the rubber meets the road. If the interior condition is poor, the bank, along with the agent must access the damage and place a value to that. I have found that many times the bank will list a property for $20,000 to $30,000 less than what you would have had to bid on auction day to purchase it. WOW! Condition, condition, condition.
   
7. Hiring a Full Time Real Estate Agent is crucial in a successful Bank Owned or REO purchase. If you have any questions, please do not hesitate to contact me.