Khadine Fisher’s Blog
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Southern Maryland Market Sees Decline in Activity in Early Q2
Southern Maryland's housing market has seen a decline in activity and inventory in April, with active and new listings ↓ ~5.3% and ↓ 3.6% yearly. New pending sales ↓ ~8.5% yearly, indicating fewer homes are going under contract or selling.
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Renting Is A Smart Financial Move To Avoid Becoming ‘House Poor’
Renting is seen as a strategic choice to avoid becoming 'house poor' by stretching finances too thin. It allows time to save for homeownership without the added financial responsibilities. Criteria for buying a home include being debt-free, having an emergency fund, and making a 20% down payment. Renting is advocated for its lower costs and…
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Top Suburbs for Living in Maryland
1. North Bethesda, MD: Median household income: ~$131K Median home value: ~$714K Median rent: $2,180 2. North Potomac, MD: Median household income: ~$182K Median home value: ~$770K Median rent: $2,593
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Salary You Need to Buy a Maryland Home in 2024
Average home price is ~$418K, making it relatively affordable. Initial payment requires ~$83K, a sizable upfront investment.
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Maryland’s Legislative Strides in Housing
The Maryland General Assembly passed 4 bills to enhance affordable housing and protect renters. House Bill 538 offers incentives for developers to include affordable housing and permits higher density for such developments.
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Maryland Spring Housing: 14% Decrease in Sales
High interest rates challenge Maryland's spring homebuying season, creating a seller's market. Maryland's housing inventory depletes rapidly, with an avg DOM of 9.
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Honoring Our Nation’s Heroes on Memorial Day.
This day honors the brave men and women who have sacrificed their lives to defend America's freedom.It became an official federal holiday in 1971. Americans observe Memorial Day by visiting cemeteries and memorials.
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Breaking Barriers: Maryland’s Bold Plan to Expand Housing
Maryland faces a housing crisis, ranked 7th most expensive state due to high housing costs. Maryland's economy grows at a slow rate, partly due to a lack of affordable housing.
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Using home equity to pay off your mortgage? Here are the pros and cons
Consider the pros and cons before using home equity to pay off your mortgage. By using home equity, you can eliminate your biggest monthly bill, delay principal payments, and have leftover equity for other expenses. However, you'll still have a monthly bill, may face prepayment penalties, and experience changing payments with a HELOC. Continue to…
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Maryland Metrics: Your Salary for Renting Comfort
Median monthly rent: $1,810 Monthly income needed: $6,033