If you're headed to Fort Meade in 2024 you'll want to check out the BAH rates to help you budget for off-base housing, or to compare housing costs on base to find the right solution for you.  Keep in mind that  BAH is designed to cover 95% of your housing costs, so it offsets costs, but doesn't always cover them 100%. It can though, if you budget and plan carefully, especially if you're buying a home.  And this year's 7% increase in the BAH rates is helping to keep these allowances in line with actual costs.  The chart below will give you an at-a-glance summary of your BAH for the year.

Whether you're interested in buying a home or renting a home near Fort Meade, you'll have plenty of options to choose from.  We'll help illustrate how your housing allowance stacks up off base. With that information, you can see how it compares to base housing, and make the right decision for your move!

RENTAL HOMES WITHIN THE BAH RANGE FOR FORT MEADE
For this example, we're going to use BAH rates for an E-5, with dependents, and choose homes with 3 or more bedrooms and 2 or more baths using current inventory.   We're going to stretch the monthly payment from the allotted $2,641he $2,800 per month range (which rounds up for the 5% BAH doesn't cover).  We're also going to pick the closest areas to Fort Meade, including Severn, Odenton, Laurel, Columbia, Crofton & Severna Park all of which keep you within a 30 minutes commute.  If you're up for a bit longer of a commute, there are more options in lower price ranges further from the base.  Just ask us and we'll get you pointed in the right direction, or use our easy search to view homes for sale and rent near Fort Meade by commuting distance to the base. 

There are 7 single family homes for rent in this price range including one 2,500 s.f. rancher with basement in Ellicott City and several choices in Laurel. It's an unimpressive showing right now for single family rentals which are always at a premium.

When we expand that search to townhomes we've got a whopping 39 to choose from. Townhomes will generally allow you to have a more updated home, and spacious floor plans on a budget.  They are a popular housing choice in our area.  Prices range from $2,150 to the tippy top of the $2,800 and beyond.  But choices here are plentiful and you have some options for communities with lots of amenities like Piney Orchard.

And finally we have just 3 condos available priced between $1,999 and $2,250.

HOMES FOR SALE WITHIN THE BAH RATE FOR FORT MEADE
Before we get into the details, please know that your BAH is non-taxable so that full amount goes to you.  When you're buying a home you receive significant tax savings via a deduction of your mortgage interest.  This deduction is often enough to make an adjustment to your taxes that will allow you to make more money from the same paycheck. Or, you can opt to receive a refund at year end. It's important to know the exact amount as you may be able to search in a higher price range based on those savings.  You'll want to consult a tax professional to determine the amount of your specific savings.

In order to stay within the BAH rates for purchasing a home, you're going to have to consider smaller single family homes priced no higher than $385,000 with current interest rates.  In all of Anne Arundel county right now there are  21 homes in that price range and several are fixer uppers.  Single family home choices are very limited but they CAN be found.

There are 24 townhomes for sale ranging in price from $159,000 (a fixer upper near the city) up to $385,000.  

And finally there are just two condos for sale in this price range.

Don't let current inventory discourage you, there are options out there and The Roskelly Team will aggressively search for and help you obtain a home within your budget!

Welcome to Seven Oaks. This popular community sits just outside the gates to Fort Meade making it a popular destination for military members and government employees that work on the base. 
Seven Oaks is located in the city of Odenton close to the intersection of 175 and 32 and close to the Baltimore Washington Parkway and Route 97, which makes it an excellent commuting location to both Baltimore and Washington DC.  You'll also find some of the area's best shopping and restaurants within 15 minutes of the community.Seven Oaks offers a variety of housing options including a very small number of condominiums in The Saybrooke section of the community, many townhome options from simple to luxury, and single family homes. So, not matter what you're looking for, you'll be sure to find it here.  Undecided on what type of home you want?  This link will show you everything available for sale in Seven Oaks.

Within the community, you'll find convenient facilities including a neighborhood shopping center, daycare, Seven Oaks Elementary school, and an on-site management office.

And as a resident or tenant (with Landlord permission) your HOA fee entitles you to use of all of the community amenities including: eight playgrounds, basketball & volley ball courts, lighted tennis courts, and picnic areas.

    
Two community centers, two fitness centers and two community pools plus kiddie pools.
    
Eight playgrounds, basketball & volley ball courts, lighted tennis courts, and picnic areas.
  
If you're thinking of making a move to Seven Oaks, let the experts at The Roskelly Team help you find the very next place for you and negotiate a great deal, or list your Seven Oaks home for sale with us and get ready for outstanding results!  We've been selling homes in Seven Oaks since 1999 and in that time we've represented almost 200 homeowners and renters.  Put the power of The Roskelly Team to work for you today.  EHO

Are you interested in buying, renting, or selling a home in Piney Orchard?  

The Roskelly Team at Berkshire Hathaway HomeServices specializes in property sales and rentals in this much sought after Odenton community near Fort Meade and the Odenton MARC station. We've had our fingers on the pulse of the Piney Orchard Market since 1999 and our team has represented over 200 clients within the community. Our experience gives you a distinct advantage if you choose us to represent you on your next real estate transaction.

Our website, PineyOrchardHomes.com gives you all the information you need to understand the neighborhood including a one click link to all homes for sale in Piney Orchard, a look at what's under contract, and a list of recently sold houses, townhomes and condos. We give you an overview and photo tour of community amenities, and we offer a free, instant market valuation and the information you need if you're planning to list your home for sale. 

Thinking Of Selling Your Piney Orchard Home?
We know this community, the neighborhoods within Piney Orchard (ask us why this is important), the available home models, and the unusual fee structure that must be disclosed and documents transmitted to your buyer per Maryland law. We'll use this knowledge and our Accredited Staging Professional skills to make sure your listing has a distinct advantage with a well prepared and staged home (included at no charge), professional photos and floor plans of your home and photos of the neighborhood amenities, a detailed MLS listing, and a well thought out description that highlights the best details of your home and the community. Once your listing is perfected and approved by you, we use our unique internet advertising protocol and high ranking websites to make sure your beautifully presented home is distributed to the widest audience of potential homebuyers. We were Internet before it was cool and have invested our time, and a substantial portion of our budget, into making sure that when your home hits the market it will be at the top of every buyer's list.

Buying A Home In Piney Orchard?
When you're ready to buy a home, we start by providing the most up to date list of properties for sale available - online anytime, each listing gives you one click access to call, email us, ask a question, or schedule a showing.  Then, when it's time to look at homes, we've got you covered with a team of agents to accommodate your schedule and show you homes when you're ready. We can give you an immediate "guesstimate" of the homes fair market value based on condition, and, if that home might be right for you, we'll follow up with an expert comparable sales analysis so you can make an informed decision on pricing if you decide to make an offer.  We'll make sure you're familiar with current market conditions including the possibility of closing help, a reduction in price, or a special request, or request for repair.  Once you've got "the one" under contract, we'll provide you with names of trusted home inspectors, attend your inspection, prepare your request for repairs if any, and make sure you receive the proper disclosures. Once we're past the inspections we'll guide you through to a successful closing and make sure the terms of the contract, any prorations, and your lending estimate are as they should be on your settlement statement. If you use our trusted title company, we'll even cater your housewarming party! How much fun is that?

Ready to Rent Your Home?
We offer tenant locator services at a cost of one month's rent.  That service includes a complete MLS listing with pro photos (floorplans available at an extra cost) and our full Internet advertising package that covers all of the major websites with special emphasis on military websites - they are our largest home renting audience!  Once we have a pre-screened, interested tenant, we'll professionally screen that tenant for credit, landlord references, employment verification, a criminal background check, evictions search, gather all required documents and provide you with a spreadsheet summary of each/all applicants to help you make the right decision. Once you've chosen your tenant, we'll prepare your lease in accordance with local, state, and federal requirements, attend the move-in inspection, take and deliver photos of your home to document condition on that day if you aren't present, and provide you with a list of any items the tenant reports on their move-in checklist. We'll even do a semi-annual walk-through, at your request, to make sure your property is being kept in good condition. If you need professional property management, we know the best local companies and will be happy to provide you with that information, or we can show you cost effective ways to self manage your home. Once you're in our real estate family, we're always here for you. If you need assistance with a local contractor, we have longstanding relationships with some of the best and can often get you priority service at a great price.  If you need on-site services to work with your tenant or a repair, we can do that as well for an hourly fee. 

Renting a home?
We offer you full access to all MLS listed homes in the area.  These homes are listed with a commission paid by the Seller.  So even though we represent YOU throughout the transaction, there is no charge to you for our service.  You'll have the same one click contact with us that we offer homebuyers so that you can call us, email, ask a question, or schedule a showing right online.  No more calling around to the listing agents and hoping for a response.  If it's on our site, and you're our client, we are your one-stop-shop for all question. Once we've found the one, we'll guide you through the application process, present you with the Landlord's lease, be available to answer any questions you may have, and attend your final walk-through to make sure you're all set to move-in.  If you aren't able to attend your walk-through, we'll take photos of the property that you can use to document the property condition on the day of move-in.  

Whether you're buying, renting, or selling a home in Piney Orchard, The Roskelly Team has over 25 years of local marketing knowledge and industry experience and we would love to represent you on your next real estate transaction.  We're available 7 days a week at (410) 721-6694 or by text to (410) 507-2495.  When you hire us, you can rest assured you're in excellent hands and we'll take good care of you with a warm welcome to our real estate family. 

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Making a move to Fort Meade and need a great rental close to the base?  Look no further.  This 3 year new luxury, 2 car garage townhome features 3 bedrooms, 2 full baths and 2 half baths with over 2,500 s.f. of living area is located in the Wade's Grant subdivision, just 20 minutes to Fort Meade and minutes to commuter routes to Baltimore and Washington.  You can check out the full listing to view all photos and info. or set a showing appointment at this link.


The main level welcomes you with a large family room, a storage area, and a half bath
  
Upstairs, you'll find LVP flooring throughout the open floor plan that includes a super-sized living room, formal dining room, luxury kitchen with gas cooking, a spacious pantry and a convenient powder room.
    
The top level features three bedrooms including a beautiful owner's suite, two full baths, and a laundry room.
  
And outside you'll find a fully fenced yard, deck, and private patio!
  
Check out the floorplan!

If you are looking for a great home for rent near Fort Meade, The Roskelly Team has you covered.  Visit us on-line anytime to view all homes for rent near Fort Meade MD.

Closing out the year, here are the market stats showing all homes for sale, pending sales, and recently sold homes for the month of December in the Piney Orchard community of Odenton MD.  All predictions for 2024 show steady (but low) inventory, increasing prices, and lower interest rates.  That's shaping up to be a very solid market for this popular Odenton community.
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As real estate agents, staying up to date with market trends is an important part of providing the best service to our clients. One of the biggest factors influencing the real estate market in Anne Arundel County Maryland is interest rates. In this blog post, we'll provide an overview of what interest rates looked like in 2023 and offer some insights into what the 2024 predictions hold for interest rates.

Let's begin by taking a look at how interest rates evolved in 2023.

As shown in the chart above, interest rates in 2023 followed a gradual upward trajectory before dropping in December. This trend was influenced by several factors, including the Federal Reserve's commitment to normalizing monetary policy, rising inflation concerns, and the overall economic recovery. Despite the increases, it's important to note that interest rates in 2023 remained relatively low compared to historical averages.  Regardless, the higher rates had a big impact on real estate sales and inventory.  Many buyers dropped out of the market and inventory rose slightly making it easier to obtain a home with some price or closing concessions.

Now, let's turn our attention to what experts predict for interest rates in 2024.

The chart above provides a glimpse into the projected interest rate trends for 2024 by three very reputable sources. While forecasts are subject to change based on economic conditions and Federal Reserve policies, the consensus among experts is that rates are likely to continue on a moderate downward path putting us squarely in the 20 year market norms.  And while we won’t see pandemic interest rates again (we hope) buyers need to know these are great rates.  

For prospective homebuyers, understanding interest rate dynamics is essential for making informed decisions. The gradual decrease in interest rates predicted will lead to lower monthly mortgage payments.  If you'd like to know what mortgage rate you qualify for, you can make an inquiry or apply for a mortgage right online with our trusted local lenders.

If you're planning to purchase a home in 2024, consider doing so early in the year may help secure a lower interest rate and your choice of homes as the Winter inventory is higher than normal. 

Maryland Home Sellers should also take note of interest rate trends as well.

1. Pricing: Despite rising rates, strong demand for homes is anticipated to continue in 2024. Pricing your property competitively and working with a skilled real estate agent can help attract motivated buyers.

2. Timing your listing strategically is crucial. The Roskelly Team can help you make the best decision with current market data including inventory, recent sales data with concessions and an up-to-the-minute market valuation.  Our knowledge of the local market will work in your favor!

As we bid farewell to 2023 and welcome the promise of 2024, understanding interest rate trends remains crucial for anyone considering buying or selling a home this year. The gradual rate decreases anticipated for the year should give prospective buyers more incentive to purchase.

Sellers, on the other hand, can continue to benefit from the unique benefits of the Fort Meade real estate market where our military and government homebuyers are moving in and out of the area year-round. 

As your real estate team, our commitment is to keep you informed about market conditions and help you navigate the ever-changing landscape with confidence. Whether you're looking to buy or sell, The Roskelly Team is here to assist you in achieving your real estate goals in 2024.  If you're ready to find your next home, come search all homes for sale in Maryland with us.  Thinking of selling your Maryland home?  We're expert negotiators and experts on the Maryland real estate market.  You can trust The Roskelly Team to get you the very best terms on your sale or purchase in 2024!

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If you’re getting ready to buy a home, determining what mortgage program and term you want is your second step after choosing a great real estate agent who can refer you to a reputable, local lender.  Let's explore the financial implications of choosing a 15-year mortgage over a 30-year mortgage for a $500,000 home at a 7% interest rate.


So you've got your eye on that $500,000 dream home, and now it's time to decide on your mortgage. Do you go for the shorter sprint of a 15-year mortgage or take the more leisurely 30-year stroll?

A 15-year mortgage is like hitting the fast track to homeownership. Your monthly payments will be higher compared to a 30-year mortgage, but the perk here is that you'll pay significantly less in interest over the life of the loan.

For instance, with a 7% interest rate, choosing a 15-year mortgage for your $500,000 home might result in total interest payments of around $272,000 in tax deductible interest.

On the other hand, the 30-year mortgage offers lower monthly payments, providing more breathing room in your budget. However, this comes at a cost – you'll end up paying more in interest over the long haul due to the extended loan term.

With the same 7% interest rate, opting for a 30-year mortgage for your $500,000 home could mean shelling out approximately $539,000 in tax deductible interest.

The Savings Breakdown -  Now, let's talk about the savings. By choosing the 15-year mortgage over the 30-year for your $500,000 home at a 7% interest rate, you could save a substantial amount.

Here's the math:

15-Year Mortgage Total Interest: $272,000

30-Year Mortgage Total Interest: $539,000

The difference is $267,000! That's a substantial chunk of change saved by going for the 15-year option.

While the 15-year mortgage may mean higher monthly payments, it also translates into significant long-term savings and the satisfaction of owning your home outright in just 15 years. It's like a sprint to the finish line, allowing you to be mortgage-free sooner and allocate your money towards other financial goals.

For most people, making the right choice depends on your financial goals, budget, and timeline. The 15-year option may require tighter budgeting, but it can yield substantial financial benefits and put you on the path to mortgage freedom much faster. The 30-year mortgage offers lower monthly payments but comes with higher overall costs due to extended interest payments.

To make an informed decision, it's always wise to consult with a financial advisor or local mortgage expert like Pete O’Donnell at Mainstreet Mortgage, a trusted Fort Meade lender who can tailor the options to your specific circumstances. Whichever path you choose, it's a step closer to your dream home, and sound financial choices can help you save a considerable sum in the process.

If you’re in the market to buy a home near Fort Meade, The Roskelly Team at www.FortMeadeHomes.com is your best source for viewing all homes for sale near the base.  Let’s connect!  EHO

Maryland has a new regulation that is poised to reshape the landscape of residential construction projects. This regulation, with its focus on electric vehicles (EVs), underscores the state's commitment to sustainability and innovation, making it imperative for new construction to accommodate EV charging infrastructure.

In recent years, electric vehicles (EVs) have garnered widespread attention with their environmentally friendly attributes. These vehicles, known for their absence of tailpipe emissions, have emerged as allies in the battle against climate change. Maryland's decision to incorporate EV charging infrastructure into new construction projects aligns perfectly with the broader movement toward a cleaner and more sustainable transportation sector.

The Advantages of this Mandate include:

Environmental Impact Reduction: By mandating the inclusion of EV charging infrastructure, Maryland takes a significant step toward reducing greenhouse gas emissions and fostering cleaner air quality.

Enhanced Energy Efficiency: Electric vehicles inherently exhibit superior energy efficiency. As charging infrastructure becomes more accessible, residents and businesses in Maryland stand to benefit from lower energy consumption and reduced utility costs.

Economic Advancements: The installation and maintenance of EV charging stations create opportunities for economic growth, with job openings in construction, manufacturing, and maintenance sectors. Additionally, it positions Maryland as a hub for businesses and residents with a sustainability focus.

Property Value Appreciation: Homeowners can expect an increase in property values as the convenience of home charging stations becomes an attractive feature for potential buyers.

Inclusive Accessibility: Maryland's initiative ensures that EV ownership is attainable for residents across all types of properties, ranging from single-family homes to multi-unit residential complexes and commercial spaces. This inclusivity promotes an equitable and sustainable future.

While the benefits of this regulation are evident, it is essential to address the potential hurdles that may arise. These include the initial installation costs which will be absorbed by all new construction home buyers, space constraints within certain existing structures, and the necessity for ongoing maintenance and upgrades. Collaborative efforts between the public and private sectors, alongside government incentives, can serve as effective strategies to overcome these challenges.

In summary, Maryland's commitment to EV charging infrastructure within all new construction projects signifies their pursuit of sustainability and a greener future. With the reduction of air pollutants, economic opportunities, and property value enhancements, the state is positioned for a promising future. By setting a precedent for the rest of the nation, Maryland leads the way toward a cleaner, more environmentally conscious, and technologically advanced future for all. So, prepare to plug in, Maryland residents, as the road ahead is charged with possibility! 

If you're ready for your new EV ready new construction home near Fort Meade, come search with The Roskelly Team.  Your Fort Meade MD real estate specialists since 1999.  Let's connect!, Maryland residents, as the road ahead is charged with possibility! 🚗⚡🌿

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Fort Meade MD area Homeowners Associations (HOAs) and Condominium Associations have responsibilities to you, the homeowner, that vary depending on your type of association and community.  Some of these responsibilities include maintaining the community standards & amenities, common area maintenance and snow removal, and administering the budget & management of the community.  These organizations always rely on fees from homeowners to pay for what they cover.  When homeowners fail to pay their HOA or condo fees, it can lead to a cascade of problems that affect the individual homeowner and the entire community.  Liens and foreclosure
Maryland law allows HOAs and condo associations to enforce their collection efforts legally. This means that homeowners who do not pay their dues can face legal consequences, including the association filing a lien against their property. A lien essentially gives the association a claim on the property, which must be satisfied before the homeowner can sell or refinance their home. In severe cases the state of Maryland allows your association to initiate foreclosure proceedings.

Late Fees and Interest Charges
HOAs and condo associations can impose late fees, legal fees, and interest charges on overdue payments. These additional costs can add up to increase the total amount you owe very quickly, making it even more challenging for homeowners to catch up on their dues.  If you’re behind on your dues, getting in touch and staying in touch with the association is imperative. 

Community Amenities Maintenance
Unpaid fees can lead to a lack of funds to maintain community amenities such as swimming pools, playgrounds, clubhouses, and landscaping. As a result, these amenities may deteriorate or become unusable, diminishing the quality of life for all residents. A decline in the community's appearance and functionality can also lead to decreased property values for all homeowners.

Strained Community Relations
Non-payment of fees can strain relations within the community. Other homeowners may become resentful of those who do not contribute their fair share. This tension can create a divisive atmosphere and harm the sense of community that many residents value.

Reduced Property Values
Unpaid Condo fees can have a detrimental impact on property values.  Buyers using FHA or VA loans to buy in the community may not be able to purchase a home if the Condo fees are greatly in arrears as this weighs into the overall financial “health” of the association.  And a poorly maintained community and the possibility of legal actions against delinquent homeowners can make potential buyers wary. Lower property values can affect everyone in the community, as it can become challenging to sell homes at a desirable price.

Difficulty in Obtaining Financing
Homeowners who are delinquent in paying their HOA or condo fees may encounter difficulties when seeking financing or refinancing their homes. Lenders often consider a homeowner's financial health, including their association dues payment history. A history of unpaid dues can make it harder to secure a mortgage or refinance at favorable terms.

Escalating Costs for the Association
When a significant number of homeowners fail to pay their dues, the burden falls on the rest of the community. To make up for the shortfall, the association may need to increase fees for all members, further straining the finances of responsible homeowners.

Unpaid HOA and condo fees can have far-reaching consequences for Maryland homeowners. Legal actions, late fees, declining property values, and strained community relations are just a few of the potential ramifications. To avoid these issues, homeowners should prioritize paying their association dues on time and communicate with the association if they encounter financial difficulties. For associations, it's essential to have clear and fair collections policies and work with homeowners when necessary to find solutions that benefit the entire community. In the end, a well-functioning association ensures that everyone enjoys a higher quality of life and maintains the value of their properties.

Thinking of buying a home near Fort Meade that has an HOA or condo association?  You are entitled, by Maryland law, to review a complete resale package to view all of the rules & regulations of that association along with the budget, contact information and more.  Do NOT close on a home without viewing that information!  If you have questions, let's connect! EHO

The Piney Orchard real estate market remains one of the strongest in Anne Arundel county with most properties selling within two weeks.  Property values have increased 6% compared to the same period last year and the gloom and doom predicted for the market hasn't hit here.  The increase in pricing comes at what should be one of the softest sales months of the year.  However, there simply isn't enough inventory to satisfy the number of home buyers that want to call Piney Orchard their home.  

We are seeing some concessions creep back in as home sellers, used to the frenetic market are getting a little bit nervous and are willing to negotiate a bit.  Our most recent Piney Orchard listing on Cedar Elm Drive went under contract in just 6 days.  And it's the best time we've had to buy in a long time if you need a little help with closing costs!
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