Debt-to-Income Ratios and Car Payments When determining your ability to qualify for a mortgage, a lender looks at what is called your "debt-to-income" ratio. A debt-to-income ratio is the percentage of your gross monthly income (before taxes) that you spend on debt. This will include your monthly housing costs, including principal, interest, taxes, insurance, and homeowner’s association fees, if any. It will also include your monthly consumer debt, including credit cards, student loans, installment debt, and car payments. How a New Car Payment Reduces Your Purchase Price Suppose you earn $5000 a month and you have a car payment of $400. At current interest rates (approximately 8% on a thirty-year fixed rate loan), you would qualify for approximately $55,000 less than if you did not have... 10/23/2009

CLICK HERE FOR MORE INFO736 CRISFIELD WAYANNAPOLIS, MD 21401 $518,8884 Bedrooms, 4 Full, 1 Half BathroomsAGGRESSIVELY priced 1 owner home in Kingsport. Freshly painted, open floor plan, bright, airy, 4 bd, 4 1/2 baths, fin basement with 2 more rooms, full bath and lots of storage. 2 story fm room with loft, double sided fpl, hdwd floors, large eat-in kitchen Many upgrades. Great community ammenities. Conveniently located. Owner willing to negotiate!! Not a short sale. CLICK HERE FOR MORE INFO760 PEARSON POINT PLANNAPOLIS, MD 21401 $610,0004 Bedrooms, 4 Full, 1 Half BathroomsSoft,sleek & sophisticated w/a contemporary flair! Master to only 1 owner since its inception & boasting w/top of the line upgrades throughout. Open floor plan w/ clean,crisp lines. Perfect placement of this home all... 10/23/2009

I was recently interviewed for the Best of Annapolis article in Washingtonian Magazine.  The questions centered around real estate in Annapolis, Maryland's Historic District.  As a Certified Historic Property Specialist I tried to give some interesting information on the homes and historic features of the city.   The interviewer ended with an interesting question.  What would a million dollars buy me in Annapolis?  I thought that in these trying times folks might be interested to see what a million dollars will buy in Annapolis, not just the historic district but all of Annapolis.  Enjoy the tour!   CLICK HERE FOR MORE INFO301 KINGSBERRY DRANNAPOLIS, MD 21409 MLS #: AA7171504$1,090,0005 Bedrooms, 4 Full, 1 Half BathroomsPRE-FORECLOSURE!!!!SPECTACULAR WATERFRONT, WALLS OF GLASS,GREATVIEW... 10/23/2009

No Major Purchases of Any Kind Review the information below and apply it to any major purchase that would create debt of any kind. This includes furniture, appliances, electronic equipment, jewelry, vacations, expensive weddings and automobiles, of course. Don't Buy a Car When an individual’s income starts growing and they manage to set aside some savings, they commonly experience what may be considered an innate instinct of modern civilized mankind. The desire to spend money. Since North Americans have a special love affair with the automobile, this becomes a high priority item on the shopping list. Later, other things will be added and one of those will probably be a house. However, by the time home ownership has become more than a distant and hopeful dream, you may have already bough... 10/20/2009

Educate your Sellers, do not sell them.  At least for selling a home in the Annapolis, MD area. I had two back to back listing appointments with sellers who were in no rush to move.  As we were reviewing the local market stats, I asked why they were considering a move and what their timeframe was. Interesting, both of them had planned on waiting for the spring.  I told them both that the market will be completely different at that time and not to put too much heart into the numbers we were currently reviewing. I needed to let them know that waiting until the Spring may not be the ideal situation for them for several reasons: 1.  At the end of this year, banks may be dumping their "toxic loans" that are currently on their books, but not on the market yet. We then discussed that when supp... 10/18/2009

We have all heard of first time home buyer's seminars but we never hear of first time home seller's seminars.  How come? They are as new at selling a home as the first time home buyer is to buying a home. So, we at the Donnelly Group are devising a program for first time home seller's to give you an idea on how to: Determine if this is the right time to sell your home Calculate the net proceeds on your home after typical seller charges will be deducted. Discuss and dispel myths about tax consequences to home sales Stage your home to sell Determine who your target market is.  That is, who is the most likely demographic to buy your home and why that is a critical component to selling your home. Determine what the best listing price is and how we arrive at that number We will also have sam... 10/17/2009

HOWL-O-WEEN BARKIN' BASH Date:  October 31, 2009 Time:  11:00 a.m. - 3:00 p.m. Location:  Quiet Waters Park County:  Anne Arundel Address:  600 Quiet Waters Park Rd., Annapolis, Maryland 21403 Games, Contests, Demos, Raffles & Vendors$5.00 per dog (online preregistration is $4.00 per dog) Come & join the fun at this annual event! Prizes awarded in the following costume categories: Most Annapolitian Scariest Funniest Most Creative Dog-Owner Combo Best in Show   Prizes awarded in the following contests and games: Best Kisser Best Singer Terrific Trick Toy Retrieve Spoon Walk Musical Chairs Added to the fun will be a number of Vendors, Vets, Rescues, and Trainers giving valuable information PLUS - Exciting Raffle Prizes! Raffle tickets are $1 each or $5 for six or $20 for a "stretch" - a ... 10/10/2009

For More Valuable Real Estate Information visit: http://freereports.annapolishomes4you.com/ TOP RESIDENTIAL REAL ESTATE AGENT: LICENSED SINCE 1986 Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR® Certified Residential Specialist / Certified Internet Marketing Specialist Over $73,000,000 in Settled Sales Champion Hall of Fame Best of the Best 2003, 2004, 2005, 2006, 2007, 2008 National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008 #1 in AOL, Comcast, Google and Yahoo #1 Relocation site for Annapolis, Anne Arundel County Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401 410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F) e-Mail PatOgle@AnnapolisHomes4You.com Visit http://www.annapolishomes4you.com/ Please Don't Forget to Show Your Support for Our Troops! 10/08/2009

[If picture does not show, hit your browser refresh button] Annapolis Maryland photo from my recent visit to see my new grandchild, Zoe.  In the Summer, there is nary a vacant spot along the seawall.  It's still quite picturesque without them. Aloha! Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550 Engineering Hawaii Dreams Today--Helping Buyers Find Dream Homes & Sellers Find Buyers Visit www.KauaiRocks.com for Hawaii real estate information  10/07/2009

This is my first Video Blog. Let me know what you think. For More Valuable Real Estate Information visit: http://freereports.annapolishomes4you.com/ TOP RESIDENTIAL REAL ESTATE AGENT: LICENSED SINCE 1986 Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR® Certified Residential Specialist / Certified Internet Marketing Specialist Over $73,000,000 in Settled Sales Champion Hall of Fame Best of the Best 2003, 2004, 2005, 2006, 2007, 2008 National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008 #1 in AOL, Comcast, Google and Yahoo #1 Relocation site for Annapolis, Anne Arundel County Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401 410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F) e-Mail PatOgle@AnnapolisHomes4You.com Visit http://www.annapolishomes4you.com/ Blog A... 10/07/2009

I have had the opportunity to have dinner with client's a few times this week! Twice I found myself at Boatyard Bar and Grill! The atmosphere - completely casual.  Annapolitan attire in full force - dock-sides, khaki shorts, mariner's belt, etc. Food - Delicious! Do not leave this restaurant without trying the crab dip.  Vastly different than the other restaurants in town.  Amazing! I've had their fish, chili, chicken, pizza's.....enjoyed all of it. Pricing - Fair.... Nothing exciting. It is just such a great hang out.  Inside the bar are some TV's sporting the football games, while the regulars are screaming for their team! People are simply happy.  It isn't a place to take a loved one for a quiet, romantic dinner..... it's more of a fun, energetic venue. The sail boater's came in afte... 10/06/2009

Credit scores , along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for. 1. Check for and correct errors in your credit report . Mistakes happen, and you could be paying for someone else’s poor financial management. 2. Pay down credit card bills. If possible, pay off the entire balance every month. However, transferring credit card debt from one card to another could lower your score . 3. Don’t charge your credit cards to the maximum limit. 4. Wait 12 months after credit difficulties to apply for a mortgage . You’re penalized less for problems after a year. 5. Don’t purchase big-ticket items for your new home on credit cards until after the loan is approved. The amounts will add to your debt.... 10/05/2009

The Recession and Your Age The recession has affected people of different ages in different ways. According to a telephone survey by the Pew Research  Center's Social & Demographic Trends project, young people who are just emerging into the job field have experienced the worst of it, while adults age 65 and over who are already retired have not felt as much impact. Despite the struggle to find a job, many young people remain optimistic about their financial future. Seventy-one percent of people age 18-29 had no financial losses or had no investments before the recession, but 68 percent have made changes to cut back their spending.  Click Here for the Rest of the Stories For More Valuable Real Estate Information visit: http://freereports.annapolishomes4you.com/ TOP RESIDENTIAL REAL ESTAT... 10/02/2009

Annapolis is known for its abundance of waterways and needless to say we have an abundance of marinas along those waterways too. So what a delight when the news came out that 5 local marina's were honored as 'clean' during the states inspection this time around. So what does 'clean' mean? It means these marina's earned certification for taking on environmentally friendly practices. Practices such as installing rain gardens to treat polluted storm-water to educating boaters on preventing fuel spills. The yacht clubs, marinas, boat ramps and other facilities in the program earn points toward certification for different practices and must be re certified every 3 years. The state run program called the Maryland Clean Marina Initiative is voluntary and yet more and more marinas are joining. ... 10/01/2009

We have not remained immune to the unemployment crisis that has hit the nation but statistically we are doing pretty well. Listed as #14 by state with a 7.2% unemployment rate puts us way below the national average of 9.7%. Yes we are a vibrant community holding our own in this economic downturn. One of the leading factors to our lower unemployment rate is our diverse employment field. Though government and defense-related fields make up the biggest part of our employment sector we also have a healthy diversity in tourism, commercial, retail and high-tech industries too.   If you are looking to make a career or job change then you just may want to take a peek at the top 10 employees in both the private and public sectors in and around Annapolis Md. Clicking on the link will take you dir... 10/01/2009

Interest rates are still hovering in the low 5's or upper 4's even! The supply of homes is healthy.  Buyers have their choice of homes and can negotiate a stronger offer because of the buyer's market.  Last but not least, the government is giving a first time home buyer up to $8,000 to buy a home!!!! Here are some important stats that a first time home buyer should know: 1.  As of today, there are 1,279 homes for sale under $300,000, in Anne Arundel County. 2.  There are 450 townhomes, duplexs, rowhouses, back to back homes and semi detached homes for sale in Anne Arundel County under $300,000. 3.  There are 607 single family detached homes for sale in Anne Arundel County under $300,000. In Annapolis, Maryland: 1.  There are 50 single family detached homes for sale in Annapolis, MD unde... 09/29/2009

Helping families, couples or even a single person make the transition from their city to ours is always a fun and exciting time for me when selling real estate. The anticipation along with the trepidation of making such a move can seem and feel quite daunting to them and I love to help smooth the way and introduce them to our area. Last year one such couple was transferring here from the Midwest. Excitement was in the air as they contemplated their new positions in Washington DC and their new home in the Annapolis Md area. We found the perfect new home for them and before long they were settled in and exploring all that Annapolis, Baltimore and the Washington DC area had to offer. But alas, the Midwest kept calling their names so when a position became available back in their previous h... 09/24/2009

Don’t Move Money Around When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs . Most likely, you will be asked to provide statements for the last two or three months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds, and even your company 401K and retirement accounts. If you have been moving money between accounts during that time, there may be large deposits and withdrawals in some of them. The mortgage underwriter (the person who actually approves your loan) will probably require a complete paper trail of all the withdrawals and deposits. You may be required to produce cancel... 09/21/2009

Join us only if: You've lost your shirt in the stock market You've lost equity in your home You haven't started to save money, but you need to You want to learn how to build your wealth You want to learn how to preserve your wealth, or You want to learn the ways to financial freedom   We will be hosting a wine and cheese tasting on Thursday, October 1st from 6:00 - 8:00 at the Premier Planning Group in Annapolis MD. off of West Street. Diane Donnelly and Andrea Loretangeli with Keller Williams Crossroads will discuss how to build wealth through real estate and share recent examples of helping clients find instant equity (in the 100's of thousands of dollars)!! Kris Webb with 1st Mariner Mortgage will discuss building wealth through proper structuring of your home loan or investment prop... 09/17/2009

Develop a family budget. Instead of budgeting what you'd like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent. Reduce your debt. Generally speaking, lenders look for a total debt load of no more than 36 percent of income. Since this figure includes your mortgage, which typically ranges between 25 percent and 28 percent of income, you need to get the rest of installment debt—car loans, student loans, revolving balances on credit cards—down to between 8 percent and 10 percent of your total income. Get a handle on expenses. You probably know how much you spend on rent and utilities, but litt... 09/17/2009