Yowell Team Blog

Higher Loan Limits On The Way
February 29th, 2008 6:41 PM
President Bush signed an economic stimulus package into law on February 13th.  One of the results will be a temporary increase in FHA and conventional loan limits.  For buyers, this could mean you'll have more buying power at better interest rates.  For sellers, it could mean that there will be more buyers out shopping for homes.  For more details, click here.

Posted by Josh Yowell, Associate Broker, e-PRO, GRI on February 29th, 2008 6:41 PMPost a Comment (0)

Just Released- 2007 Year End Statistics
February 14th, 2008 2:32 PM
MRIS just released 2007 year end sales statistics.  Despite all of the negative media about how horrible the housing market has been, Calvert and St. Mary's Counties both saw increases in Median Sold Prices compared to 2006.  The median price in Calvert rose 4.4% to $355,000.  In St. Mary's, the median sales price was $329,000, a 3.3% increase over 2006.  But Charles County actually saw a 1.49% decrease.  Still, many people thought that number would've been a lot worse.  We plan to break the data down into zip codes over the next few weeks to show you which areas saw the highest increases and decreases.  For more info, click here

Posted by Josh Yowell, Associate Broker, e-PRO, GRI on February 14th, 2008 2:32 PMPost a Comment (0)

St. Mary's Volunteer Fire Departments Ask for Property Tax Increases
February 9th, 2008 4:32 PM

No one likes to see property taxes go up, but if there were ever a good reason to raise them, this would be it.  We know several volunteers throughout the county.  They put a lot on the line: their time, their money, and their personal safety.  While there's no question that state and local governments should manage tax dollars better, I don't think any of us want to skimp on emergency services!

From the Headline News section on www.somd.com:

Posted on February 08, 2008
By Andrea Shiell, County Times

"HOLLYWOOD, Md. (Feb. 7, 2008) -- At the Board of County Commissioners budget works session on Tuesday, the Lexington Park Volunteer Rescue Squad (LPVRS) put in their request for a tax rate increase to pay for member benefits such as uniforms (which they currently pay for themselves), physicals, health screenings, background checks, and the construction of a replacement for Station 39, which has outgrown its capacity to serve the area. The Rescue squad is requesting that the current fire and rescue tax rate be increased from 1.1 cents to 2 cents per $100 of assessment.

LPVRS President Ralph Stotler stated in his letter to the commissioners that the increase was justified by the rising cost of operating expenses, which the department projects to increase by close to 50 percent by 2014.

The Mechanicsville Volunteer Fire Department presented its own request at the hearing, calling for a tax rate increase from the current 4.4 cents to 5.1 cents per $100 of assessment. This increase is expected to generate $162,500 in added revenue for the department, which will facilitate the expansion of their current facility and the purchase of upgraded fire apparatus.

The Hollywood Volunteer Fire Department currently receives a tax rate of 1.1 cents per $100 assessment in the 6th Election District, and they are requesting that it be increased by 0.9 cents.

They also receive 0.8 cents per $100 of assessment in the 7th Election District, and they are requesting an increase of one cent. The squad is requesting a tax rate increase to relocate or build a new building on their current lot in the future.

Public hearings will be held in the near future to discuss the impact these rate increases might have on residential and commercial properties serviced by the stations."


Posted by Josh Yowell, Associate Broker, e-PRO, GRI on February 9th, 2008 4:32 PMPost a Comment (0)

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