FREE Calvert County Swine Flu Clinic

On Saturday, November 14, 2009, the Calvert County Health Department will hold a free Calvert County Swine Flu Clinic from 9am to 1pm at the Calvert County Fairgrounds in Prince Frederick.  This clinic will be open to:

1. Pregnant women
2. Anyone with a child they care for under the age of 6 (parents and caregivers)
3. Healthcare and emergency medical personnel
4. Anyone ages 6 months to 24 years old
5. People ages 25-64 that have health conditions that may cause them to be at a higher risk for complications from the flu.

These are the five groups that are most at risk for developing complications if they contract the H1N1 virtus.  When more vaccine is available in Calvert County, it will be available to everyone.  The seasonal flu vaccine will not be available at this clinic.  Remember that there is absolutely no charge for the H1N1 flu vaccine.  For more information about the H1N1 flu, please call 410-535-5400 ext 349.

Bonnie Augostino, the Difference is Crystal Clear for Southern Maryland real estate

Calvert County Schools Now Post Students’ Grades Online

Power to the parents!  Calvert County schools are now posting students’ grades online.  Parents’ access doesn’t stop with just their child’s grades, though.  They can also request that an email be sent to them automatically with grade summaries, class assignments and even be notified if their child’s grade falls below a certain level.  In early September, all students in grades 1-12 received login credentials and details about the online program.  If you did not receive this information or have questions about how to access the site, please visit the Calvert County Public Schools’ website.  You can find the information by clicking on the “Parent” menu, going to the “Internet Resources” section and clicking on “Student Grades via Pinnacle Internet Viewer (PIV)”.  If you aren’t sure about your password, please contact your child’s school and they will be more than happy to help.

Bonnie Augostino, South Maryland real estate - the Difference is Crystal Clear

Choosing a Lower Mortgage Payment

Choosing a lower mortgage payment may be your best option when considering a home purchase in Southern Maryland.  Americans these days are looking to put more money in their savings and spending less.  When choosing a mortgage plan, stretching your payments out over a longer period of time may help you to do just that.

Some would advise that choosing a 15-year mortgage is a better option than the traditional 30-year mortgage because you are able to pay the mortgage loan off sooner and save thousands of dollars.  This is very true and the savings in interest does amount to a great deal of money.  Another advantage of the 15-year mortgage loan is that they can usually be obtained at a slightly lower interest rate.  However, I think the 30-year mortgage option is the better of the two for most people.

30-Year Mortgage Advantages:

• The first advantage, of course, is a lower house payment, which can be a foreclosure preventive if your finances are temporarily reversed.
• Choosing a lower mortgage payment may allow you to put money in a rainy day fund for the small emergencies that arise in life.
• You can still pay your house off early and save thousands of dollars in interest.
• You can match your house payment and/or your savings to your financial situation; when times are good and extra money is coming in, you can put the money in the bank, use it for other investments or apply it to your mortgage balance to lower the total interest paid over the life of the loan.

As your life situations change, you may find that you will need to move to a new location or you may find that a refinance of your mortgage loan is an option that will work well to meet your long term goals.  If you sell your home or refinance in the first seven years, the savings in interest may not be that beneficial.  Rather than stretch your budget to the highest payment you can afford, it may be better to finance your loan for the longest term available, keeping your payment affordable.

You can pay off your mortgage early (be sure your loan does not have a prepayment penalty) by adding to your monthly payment.  If you make one or two extra payments a year, you will pay your home off in almost the same time and equal savings as a 15-year mortgage.  If you can afford a payment equal to the 15-year plan, then do so.  You will realize the same savings in interest and in the same amount of time.  However, if you find yourself in a financial setback, you will not be obligated to the higher payment.

Let’s compare:

30-years:
$300,000 @5.175% = monthly payment of $1,643: total interest is $291,373.
15-years at same interest:
$300,000 @5.175% = monthly payment of $2,400: total interest is $131,967, $757 higher house payment.
15-years with discounted interest:
$300,000 @4.75% = monthly payment of $2,334: total interest is $120,030, $691 higher house payment.

A 15-year loan house payment is $757 higher than the 30-year plan, but, with that one, you would save $140,553 in interest.  However, if you had put $757 a month in the bank, you would have saved $272,520 (without interest), which means you would have saved $159,406 more than what you saved in interest choosing the 15-year plan.

The example above does not mean that the 15-year option is a poor one or one that you should avoid.  Finances are like real estate: very individual and unique to each person.  You must always consider your long-term goals and the best path for you to reach your goal.

Whether you are considering a Southern Maryland home purchase or have already purchased a home, making extra payments (full or partial) will save you money.  How much money you save will depend on the amount and consistency of those payments.

Bonnie Augostino, The Difference is Crystal Clear – Southern Maryland Real Estate

Sidewalk Chalkathon and A Beach Party On The Square

This weekend, Annmarie Gardens will be hosting two family fun events: the annual Sidewalk Chalkathon and Sunday FUNday.  The Chalkathon begins on Saturday, but I would like to suggest that you combine that activity with the events being held on Sunday FUNday.  The reason I suggest this is because you just might want to enjoy a day at the beach.

On Saturday, August 8th, Leonardtown will be hosting a Beach Party on the Square.  Everyone in the family will enjoy the live music, entertainment, exhibits, crafts, games (including sand volleyball), antique car display and the fire truck hose downs.  And last, but not least, there will be plenty of great food as well.

Annmarie Gardens’ Sunday FUNday (August 9) family events will be held in the two Studio School buildings.  Activities include the Sidewalk Chalkathon Contest and hands-on activities, such as watercolor painting, monoprinting, clay ceramics and a scavenger hunt.  Visitors may also tour the current art exhibitions – Wild Things! (animal-inspired artwork) and Proximity: Regional Discoveries (artwork by local artists).

Everyone has a little bit of the artist in them and you can show off your artistic talents during the Sidewalk Chalkathon Art Contest (August 8 – August 16).  Everyone, regardless of age or abilities, is invited to participate.  Just go to the main desk at the Arts Building to registar and receive you bucket of chalk.  There is a $1 entry fee for contest participants.  However, if you purchase a ticket for admission to the Arts Building, the entry fee will be waived.  The contest is also free to Annmarie Garden members.

After registering and receiving your chalk, you will be directed to the wooded path and given a spot to draw your artwork.  Prizes will be awarded at the end of the contest, according to age group.  Even if you are not feeling artistic, walking the path or riding your bike while viewing the creations of the Chalkathon artists is a unique and pleasurable experience.

While you are at the garden, get the details for the Summer Safari for Wild Things.  It is not too late to participate in this artistic “treasure hunt”.

Sidewalk Chalkathon Hours: Daily from 10 am to 4 pm
Sunday FUNday Hours: August 9 from 1 pm to 3 pm
Annmarie Garden: www.annmariegarden.org or call 410-326-4640.
Located at: 13480 Dowell Road, Solomons, MD 20688

Beach Party On The Square Hours: 4 pm to 9 pm
Leonardtown: leonardtown.somd.com or call 301-475-9791
Location: Downtown Leonardtown on the Square at Washington St

Bonnie Augostino – Your Southern Maryland real estate expert

Southern Maryland’s River Concert Series

The River Concert Series is in full swing, with only four performances left.  This year marks the 11th year for St. Mary’s College’s presentation of great music and cultural enrichment to the residents of Southern Maryland.

The July 10th performance (this Friday) features the wonderful music of Rodgers and Hammerstein.  The music selections will be performed by the Chesapeake Orchestra led by guest conductor, Larry Vote.  The audience will be entertained by the famous voices of Diane Atheron (soprano), Olivia Vote (mezzo-soprano), Stephen Cramer (tenor) and Robert McDonald (bartione).

    * The River Concert Series is open to the public and free to all.
    * Sit up front if you are a serious listener and towards the back if you are a serious socializer.
    * Don’t forget to bring your picnic basket with you and a blanket.  Food and drinks will be avialable for purchase.
    * Designated lots for parking will be clearly visible.  There is no parking along Route 5.  All concerts begin at 7pm and gates will open at 5:00 pm.

In addition to the Friday night concerts, the River Concert Series offers other musical presentations as well as movies.  You can see the details for the River Concert Series PLUS here.

Remaining Concerts (click here for details of each concert)

July 10 – Rodgers and Hammerstein
July 17 – The Young and The Gifted
July 24 -, The Real Deal
July 31 - The Big Finish
River Concert Series PLUS

Please note:
In case of bad weather, you can check the St. Mary’s College homepage for any location changes or cancellations.  For more information, please call 240-895-2024.

Southern Maryland weather can change quickly.  If such a situation arises, public safety officers will be on hand to assist the audience to their cars.

Bonnie Augostino, Your Southern Maryland real estate expert

Southern Maryland Interest Rates Are Going Up

All good things must come to an end they say and it looks like that is true when it comes to the lowest interest rates in 40 years.  Interest rates in Southern Maryland and across the nation are on the rise.  Bankrate.com reports that interest rates have risen in the past two weeks from 4.91% to 5.45 percent.  This is the biggest jump in rates in the past six months.  The BaltimoreSun.com reports today’s rate is 5.34% for a 30-year fixed loan.

    * Interest rates are not expected to go below 5%.
    * Interest rates may hit the 6% mark.
    * Interest rates affect your buying power.
    * Interest rates affect you ability to qualify for a loan.

Interest rates are not expected to go below 5%

    * After a quick rise in interest rates, historically, interest rates fall back but only slightly.
    * Economic and mortgage experts do not expect interest rates to fall back below 5%.
    * According to a Mortgage Rate Trend Survey, it is a split decision whether interest rates will even decline slightly in the next 90 days.

Interest rates may hit the 6% mark

    * Bernard Baumohl of Economic Outlook Group states that interest rates could go as high as 6.5% in the near future.

Interest rates affect your buying power

    * A slight increase in interest rates diminishes your buying power by thousands of dollars.
    * Example:

A home purchased for $266,000 with an interest rate of 4.91% equals a mortgage payment of $1414.
A home purchased for $253,500 with an interest rate of 5.34% equals a mortgage payment of $1414.
Your buying power has been diminished by $12,500.

Interest rates affect your ability to qualify for a loan

    * The loan amount you can qualify for is based on your income.
    * Example: Sales price $266,000

At 4.94%, the required yearly income needed is $68,500.
At 5.34%, the required yearly income needed is $71,500.

Homes prices in the tri-county area of Calvert County, Charles County and St. Mary’s County are at the best affordability levels since 2004.  As the housing market stabilizes, home prices will go the way of the interest rates: up.  First-time buyers and repeat buyers can take advantage of the best opportunity in years: low prices and interest rates.

Although, interest rates have gone up, they are still very low.  Anything near the 5% mark is a great rate.  Don’t let opportunity pass you by.

Bonnie Augostino, your Southern Maryland real estate expert

The New Tax Credit For Southern Maryland’s First-Time Buyers

The federal tax credit for first-time buyers is not really new, but how you can use it is.

The first-time buyers’ tax credit now has two options:

    * First-time home buyers can apply the tax credit to their tax filing in 2010 (for the year 2009).
    * First-time home buyers can apply the tax credit to their down payment and/or closing costs when using FHA financing.

The first-time buyers’ tax credit as a down payment:

    * Can only be used with FHA financing.
    * Can only be used to add to the buyer’s FHA required down payment.

The first-time buyers’ tax credit pays closing costs:

    * The tax credit can be applied to certain loan costs when obtaining FHA financing.
    * The tax credit can be used to buy down the interest rate of the loan.
    * The tax credit can be applied to the upfront FHA mortgage insurance premium (MIP) fee (1.75% of the sales price).

The first-time buyers’ tax credit advantages with FHA financing:

    * A bigger down payment means a lower mortgage payment.
    * Buying down the interest rate means a lower down payment.
    * Buying down the interest rate results in saving tens of thousands of dollars in interest over 30 years.
    * Using the tax credit reduces the amount of money you will need to close escrow.
    * Use the portion of the tax credit you need for FHA financing, claim the remainder when filing your 2009 tax returns.

The first-time buyers’ tax credit when filing 2009 tax returns:

    * The tax credit is more cost effective than a tax deduction.
    * The tax credit is a dollar-for-dollar reduction in your tax liability (what you owe).
    * If you owe less than the amount of your tax credit, you receive the remaining balance in the form of a refund.

The first-time buyers’ tax credit means money in your pocket.

    * Using the tax credit with FHA financing when applied to your closing costs or MIP means you have less coming out of your savings.
    * Using the tax credit with FHA financing when applied to the down payment means a lower house payment giving you more money monthly.
    * Using the tax credit with FHA financing when applied to buying down your interest rate means more monthly money and long term savings.
    * Using the tax credit when applied to your 2009 tax return filing means you owe less to the IRS.
    * Using the tax credit when applied to your 2009 tax return could result in a refund check, which can go directly into your pocket.

The federal tax credit offers a great advantage to first-time buyers in addition to the great Southern Maryland real estate market conditions, which are in the buyers’ favor at this time.

The current low-interest rates offer everyone, especially the first-time home buyer, a great advantage in buying now. Interest rates are hovering at the 5% level, but have going up slightly in the past few weeks due to the increased activity in the housing market.

The housing market is picking up.  So first-time buyers should not let the advantages of buying a home in Calvert County, Charles County or St. Mary’s County pass them buy.  As home prices stabilize, home values increase.  It is likely that first-time buyers will never again experience the advantages of a tax credit, low-interest rates and a real estate market which favors buyers all at the same time again.

Bonnie Augostino, your Southern Maryland real estate professional

Real Estate Sales on the Upbeat

Real estate sales are on the upbeat all over the nation.  More importantly, real estate sales have risen locally as well.  It is a mixed bag of news on the real estate housing front and too early for any predictions.  At the same time, more and more of the Southern Maryland real estate news is upbeat.
 
The Upbeat for Buyers:

    *      It is still a buyers market.  There is still an oversupply of homes on the market.
    *      Home sales and prices are lower than the same time last year.
    *      Interest rates are still low – last week they fell to 4.6%.  Today’s rate: 4.78%.
    *      Lower interest and pricing indicates that it requires about $20,000 less income to buy a home today.
    *      Lower interest rates and pricing means you can save an approximate $500 per month on your mortgage payment for the same house bought a few years ago.
    *      First-time Buyers Tax Credit/Refund is still available.
    *      100% financing is still available for qualifying properties via the United States Department of Agriculture’s rural housing development program and the Veterans Affairs loan program.
    *      Lowest prices since 2003 in some areas – The tri-county region experienced a decline in home prices in 2008; statewide homes decreased about 10%.
    *      Foreclosures are up in localized areas.
    *      Affordability index for buyers is up from 46.6% (2006) to 62.2%.

The Upbeat for Sellers:

    *      Inventory is down from a 20 month supply of homes to a 14 month supply.
    *      Waterfront, vacation homes and properties under $300,000 in Southern Maryland are experiencing multiple offers.
    *      Medium sales prices up in Calvert and Charles County – 14% and 4% respectively in March 2009 over February 2009.
    *      The number of homes sold increased more than expected in March over February 2009.
    *      Statewide, sales were up 43% in March over February 2009.
    *      Homes under the $300,000 price range appear to be in recovery.
    *      Lender owned properties are not selling for less than the asking price – banks are willing to wait for buyers to meet their price.
    *      St Mary’s and Calvert County home sales are up 28% over last year at this time.

Market Conditions are very local:

    *      The biggest jumps in home sales are being seen in Maryland’s D.C. suburbs.  Homes prices fell 15% from March 2008 to March 2009.  However, home prices rose as much as 7.5% from February to March of this year.
    *      Baltimore is still experiencing a downward market; the number of sales decreased by 18.5% in the last year.  Prices decreased 1% in March from February 2009.
    *      Dorchester, Frederick, Howard, Montgomery, Prince George and Washington counties are all experiencing an increase in home sales over the number of homes sold for the same period in 2008.
    *      Statewide sales indicate that home sales have increased over the same period last year.

The market has not bottomed nationally or locally.  However, more and more cities, suburbs and neighborhoods are seeing stabilization.  That is the way the real estate market reaches a turnaround as a whole: one neighborhood at a time.  The bottom of the market cannot be predicated.  However, statistics will tell us when the bottom has been reached about six months after the fact.
 
Low prices, tax credit, low interest rates and buyers willing to buy seems to point to a hot summer in real estate sales when compared to recent years.  As a caveat, I did say it is too early and economic factors are still too volatile to make an accurate predication.
 
Bonnie Augostino, your Southern Maryland real estate expert

Cyclists Ride to End Hunger in Calvert County

You will want to use extra caution on Saturday, April 25th, when traversing our roadways.  Over 300 cyclists will be riding the road in a fundraiser to help end hunger in Calvert County.  The organization End Hunger In Calvert County (EHCC) is sponsoring the event.  More than 30 Calvert businesses and community leaders have united together, forming the End Hunger In Calvert County organization.  The group hopes to one day end the sad tale of American families struggling to grace their table with food.
 
The cyclists are on a mission to bring awareness to the needs of less fortunate families in the way of basic food supplies.  They are also working to raise $10,000 to replenish the food shelves at various food panties in Calvert County.  Over 300 cyclists will be participating in the event.  The End Hunger In Calvert County organization is being joined by riders from Calvert County and even as far away as the state of Maine.
 
The current recession has placed many more families at risk.  Support organizations have seen a 40% increase in those needing assistance.  This is not only true in Calvert County, but all over the nation as well.  You can still join in the End Hunger in Calvert County Ride by signing up at the EHCC website.  You do not have to be a pro to be a rider.  There are four established trails.  There is a 62 mile trail for the experienced riders, 48 and 33 mile trails for intermediates and a 15 mile trail for those who just want to ride for the cause and the enjoyment of riding.  The trails begin and end at the Chesapeake Chruch campus.  There is a registration fee of $35 until April 15th.  The fee will go up to $50 on April 16th.  So, hurry and sign up now.
 
If you are not into riding, you can still help the cause by donating food items or cash funds to the End Hunger In Calvert County organization.  Learn how you can help by going to http://www.endhungercalvert.org/how_you_can_help.html.
 
Remember everyone: drive with extra care on April 25th.  We want everyone to return home safely.

Bonnie Augostino, Southern Maryland Real Estate
 
More Information here:
End Hunger In Calvert County Bike Ride Registration: http://www.endhungercalvert.org/registration_info.html
 
EHCC Ride Details: http://www.endhungercalvert.org/ride_details.html
Cheaspeake Church Directions

Save $25 – Plant a Tree

Governor O’Malley has declared April to be Environmental Education Month through out the state of Maryland.  April is also the month the world celebrates Earth Day.  Since April is a very green month in Maryland and because everyone is looking for ways to save money these days, I thought I would share with you a way to do both.
 
You can get a $25 discount coupon from the State of Maryland when you plant a tree costing $50 or more.  You can get your $25 coupon on the newly created Marylanders Plant Trees website.  Marylanders Plant Trees is the website which promotes citizen, community and business participation to plant 50,000 trees by 2010.  The State of Maryland has committed to planting one million trees of its own by 2011.  The website also offers advice and tips on how to select your tree and a recommended tree list. 

Trees not only improve our environment, they also beautify our neighborhoods, add curb appeal to homes and add to property values.  In addition, trees can reduce your energy costs by as much as 35%.  After you have printed you coupon and planted your tree, you will want to return to the Marylanders Plant Trees website and register the tree.  An interactive map showing all the newly planted trees will be added to the website sometime in the future.

You can go green, celebrate Earth Day, learn more about your local environment, improve the environment, add to sustainable living and help your state meet its goal all by just planting a tree while saving money at the same time!

Bonnie Augostino, Southern Maryland’s Real Estate Professional, The Difference Is Crystal Clear

Related Links:
Marylanders Plant Trees – Cooperating Vendors
Marylanders Plant Trees – Tree Benefit Calculator
Maryland’s Environmental Education Department
Citizen Environmental Participation
April Proclaimed Environmental Education Month