The pace of sales of existing homes in the U.S. rose 5.1 percent in February, according to the National Association of Realtors.

Jessica Forres spoke with some local real estate agents about what's motivating buyers to get back in the market...



In Takoma Park, Maryland, Andrew Eisel, a real estate agent, greets two prospective buyers who’ve showed up for his Open House…

[ NAT: IF YOU HAVE ANY QUESTIONS ABOUT THE ROOM SIZES]

He’s optimistic the home will sell. He says that’s because the buyers are back…

SIX MONTHS AGO I WASN’T SEENING A LOT OF ACTIVITY. I HAD ONE LISTING AND NO BUYERS AT THAT TIME AND RIGHT NOW, I’VE GOT A FEW MORE LISTINGS THAT I DID AND I’VE GOT FOUR ACTIVE BUYERS WHO ARE CURRENTLY LOOKING.

Beth Dudrow is touring the brick Colonial with her husband. They stopped looking for houses a year ago because prices were too high. She says that’s changed.

PRICES SEEM TO BE COMING DOWN AND WE’RE TOLD THAT SOME OF THESE HOUSES CAN BE BOUGHT FOR LESS THAN WHAT THEY’RE LISTING AT…

At another Open House in Silver Spring, Maryland, Russell Carlson is looking at a 2 bedroom white, bungalow listed at 350,000 dollars.

He says the price is right for him.

I WOULD HATE TO BUY AND HAVE IT DROP BY ANOTHER 25 PERCENT BUT I DON’T SEE THAT HAPPENING.

Neither does Michele Topel, the listing agent. She says there’s a window of opportunity for buyers now, especially with new tax incentives and historically low interest rates.

I WOULD PREDICT THAT WHAT WE’RE GOING TO SEE AT THE END OF THE FIRST QUARTER ARE SOME HOPEFULLY SOME STRONGER NUMBERS IN THE WASHINGTON, DC REGION.

Regionally, existing - home sales jumped a little over 6 percent in February, but that is still down 11.2 % from the same time period last year.

Jessica Forres WAMU

Some real estate agents in the Washington region say buyers are becoming more optimistic about the housing market again.

Jessica Forres reports....



Open house signs line the front lawn of a bungalow in Silver Spring, Maryland. Inside, Michele Topel, a real estate agent, waits in the living room for prospective buyers. She is confident the 350,000- dollar house will sell. She says buyers are back...

I’M SEEING PEOPLE WHO CONSIDERED JUMPING INTO THE HOUSING MARKET NOW FINALLY COMING IN, ACTUALLY BUYING AND WRITING CONTRACTS.

Though six months ago that wasn’t the case….

IT WAS REALLY, REALLY SCARY, I’VE BEEN IN REAL ESTATE FOR TWENTY YEARS AND I’VE NEVER SEEN ANYTHING LIKE THAT BEFORE… WE WERE REALLY WORRIED.

The recent influx of buyers, she believes, is a result of historically low interest rates and tax incentives.

I THINK THAT PEOPLE REALIZE THAT WE ARE IN A UNIQUE SORT OF WINDOW OF OPPORTUNITY RIGHT NOW THAT MAY NOT EXIST IN ANOTHER SIX MONTHS.

Across town in Bethesda, Maryland, another real estate agent, Ana Barbosa..

[NAT: HERE WE HAVE A SOFA,]

It's a six bedroom Dutch Colonial House priced a little over a million dollars. She is also confident about the real estate market.

I THINK THE MARKET IS ACCOMODATING ITSELF TO THE ARTIFICIAL BUBBLE THAT WE HAD FOR THE LAST SIX YEARS OR SO.

That's good news for buyers. Both realators say a few years ago their houses would probably have sold for more than their listed today.

- SO DO YOU THINK WE’VE HIT THE BOTTOM
- YES
- ABSOLUTELY, I THINK WE HIT THE BOTTOM TWO MONTHS AGO

Real estate agent Topel says the greatest demand is for houses priced below 6-hundred thousand dollars.

Jessica Forres WAMU 885 News

Local residents often move to remote suburbs for affordable homes… But as Jessica Forres reports the cost of commuting to work may offset those savings...



Peter Haas...with the Center for Neighborhood and Technology... demonstrates how to use an online calculator that lets local residents compare their transportation and housing costs when planning where to live. He computes the cost of living in DC's Takoma Park and Frederick, Maryland.

YOU CAN SEE DOWN HERE, WHERE WE SHOW YOU THE CHARACTERISTICS OF THE NEIGHBORHOOD. THERE'S NOT A LOT OF TRANSIT CONNECTIVITY OUT THERE. ZERO BUSES OR TRAINS IN WALKING DISTANCE

The online calculator is part of a report released by Haas's organization, the Urban Land Institute and the Center for Housing Policy. It measures the combined housing and transportation costs for 22 areas within the Washington region. Jeffrey Lubell is with the Center for Housing Policy.

THE FURTHER YOU MOVE FROM YOUR PLACE OF EMPLOYMENT, THE HOUSING COST SAVINGS ARE LESS THAN THE TRANSPORTATION COST INCREASES IN OTHER WORDS, YOUR TRANSPORTATION COSTS KEEP GOING UP, YOUR HOUSING COST GO DOWN, BUT AT SOME POINT YOUR NOT COMING OUT AHEAD BECAUSE YOUR SPENDING MORE ON TRANSPORTATION THAN YOUR SAVING ON HOUSING.

The report says region-wide households spend an average of 23-thousand on housing and 13-thousand on transportation annually…
Jessica Forres WAMU 885 news


______


Those who live in outer Washington suburbs pay more on average for housing and transportation than those in inner suburbs.

Jessica Forres has the story...

The median household income is 78-thousand dollars in the D-C region. Though that number seems high, so is the cost of renting or owning a home. Jeffrey Lubell is with the Center for Housing Policy.

He says residents who move to remote suburbs for affordable homes often save less if they live 15 miles or more away from their jobs. That's because of transporation costs.

THIS IS NOT A PROBLEM THAT'S ONLY FACED BY THE POOR ALTHOUGH THEY DO HAVE THIS PROBLEM. THIS IS FACED PEOPLE AT THE MEDIAN INCOME LEVEL, 78-THOUSAND DOLLARS, THIS IS A PROBLEM WE ALL FACE.

A report released by Lubell's group, the Urban Land Istitute and the Center for Neighborhood Technology, measures the combined housing and transportation costs for 22 areas in the region. Virginia's outer suburbs such as Clark and Fauquier Counties are in the study.

THE HOUSEHOLDS SPEND ON AVERAGE ABOUT 19-THOUSAND 778 DOLLARS PER YEAR ON HOUSING COSTS. THAT'S ABOUT THE SAME AS THEY SPEND IN CENTRAL JURISDICTIONS LIKE WASHINGTON, DC BUT THEY SPEND MORE THAN 6-THOUSAND DOLLARS MORE ON THEIR TRANSPORATION COSTS.

Peter Haas with the Center for Neighborhood and Technology…says local residents can now estimate their transportation costs when planning where to live. His group created an online calculator.

YOU CAN DECIDE WELL THE AMOUNT OF MONEY I'M GOING TO HAVE TO SPEND ON TRANSPORTATION. IS IT WORTH OR NOT WORTH IT TO ME

The report says about 60 percent of households have either high housing or transportation costs, or both.

Jessica Forres WAMU 885 News

It's been three months since Congress passed a 700-Billion dollar rescue plan for banks...but as Jessica Forres reports...many local homeowners who are facing foreclosure are NOT receiving the relief they need...



Juliana Anane of Silver Spring, Maryland is seven months behind on her mortgage, so she's attending a workshop at Montgomery College on how she can save her home...

I HAVE A PAYCHECK BUT I MEAN MY HUSBAND DOESN'T HAVE A PAYCHECK. HE DISABLED NOW AND THAT'S ONE OF THE REASONS WHY WE FELL BEHIND BECAUSE HE CANNOT WORK.

In 2003… when she bought the home…the interest rate was 6 percent...but now that the rate has adjusted upward, she says the bank refuses to work with her...

THEY KEEP TELLING ME THAT I CANNOT AFFORD THE HOME AND I'M TELLING THEM THAT IF THEY CUT THE INTEREST RATE FROM 9.25 TO WHAT IT'S SUPPOSED TO BE THAN I COULD AFFORD MY HOME.

Maryland Congresswoman Donna Edwards hosted the "Save Your Home" workshop where struggling homeowners received counselling. She's frustrated because banks are not providing the help homeowners need....

WELL IT HAS BEEN A REAL CHALLENGE TO PUSH THE BANKS, EVEN THOSE BANKS THAT HAVE RECEIVED FEDERAL MONEY IN THE BAILOUT TO WORK OUT THEIR LOANS. I THINK WHAT WE HAVE TO DO IS TO COMPEL OUR TREASURY DEPARTMENTAT THE FEDERAL LEVEL TO USE THE MONEY DIRECTLY FOR HOMEOWNERS.

Representative Edwards says during the third quarter of 2008 half of the 8-thousand foreclosures in Maryland are located in Montgomery and Prince George's counties.

Jessica Forres WAMU 885 News

____________________________________________________________

Some homeowners in the DC region say the 700-billion dollar rescue plan for banks is not providing the help they need to stave off foreclosure.

Jessica Forres reports…

Joan...not her real name...is attending a free workshop at Montgomery College where struggling homeowners receive counseling on how to avoid foreclosure.
She questions whether it's worth the effort...

IT'S A DISAPPOINTMENT. THE INFORMATION LEVEL IS NOT MATCHING THE PEOPLE'S PROBLEMS AND THE INFORMATION ALL LOOKS LIKE HERE'S THREE THINGS YOU CAN DO AND YOU SOUND REALLY HOPEFUL BUT FOR ME IT'S NOT HOPE.

She's keeping her head above water now..but she fears what could happen...
THEY SAID HOW MANY MONTHS ARE YOU BEHIND. WELL I'M NOT, I'M PAYING IT WELL THEN WE CAN'T HELP YOU. I DON'T WANT TO BE THAT LATE. I KNOW WHAT'S COMING.

Dozens of homeowners showed up for the "Save Your Home" workshop hosted by Congresswoman Donna Edwards who says it's a challenge to convince banks to modify the loans they've made...

I THINK WHAT WE HAVE TO DO IS TO COMPEL OUR TREASURY DEPARTMENT AT THE FEDERAL LEVEL TO USE THE MONEY DIRECTLY FOR HOMEOWNERS. AND I'M CONVINCED THAT THE INCOMING OBAMA ADMINISTRATION AND THE NEW SECRETARY OF TREASURY ARE COMMITTED TO DOING JUST THAT. YOU KNOW A PORTION OF THE 350 BILLION DOLLARS WILL BE USED DIRECTLY FOR HOMEOWNERS.

Representative Edwards says the number of foreclosures in Montgomery and Prince George's counties totaled 4 thousand in the third quarter of 2008.

Jessica Forres WAMU 885 News

More than 57 million Americans live in communities governed by homeowners' associations.

But as Jessica Forres reports, Maryland lags behind other states when it comes to regulating these associations.



In the Worman's Mill neighborhood of Frederick, Maryland, flashing snowflakes and lights decorate the outside of three adjacent townhomes.

Debra Sachs has the most colorful display...

HOW CAN YOU SELL A PIG WITH GIFTS ON HIS BACK AND IT'S NOT TACKY, EVEN STANDING ALONE IT'S TACKY I DON'T DOUBT IT BUT IT'S ALSO INCREDIBLY TEMPORARY…

But she and her two neighbors received letters from their homeowner's association asking them to remove the decorations or face a fine of $25 dollars a day. Donald Suhaka, a neighbor, says it's the first he's ever lived in a community with an HOA.

I HAVE TO SELL MY HOUSE AT SOME POINT SO I SHOOT MYSELF IN THE FOOT WHEN I SAY THIS BUT I WOULD CHECK WITH AT LEAST TEN OR FIFTEEN PEOPLE CUZ EVERYONE OF THESE PEOPLE IS UPSET WITH THIS THIS PLACE.

The dispute was resolved last night when their association decided to give up the fight.

Jeanne Ketley is with Maryland's Homeowner's Association… a non-profit group advocating for more homeowner rights in the state.

MARYLAND VIRTUALLY HAS NO LAWS PROTECTING PEOPLE THAT ARE ENFORCEABLE. THERE'S LOTS OF LAWS ON THE BOOKS BUT BECAUSE THERE'S NO ENFORCEMENT AGENCY THERE'S NO REALLY ENFORCEMENT CAPACITY FOR HOMEOWNER ASSOCIATION ISSUES.

In Maryland, she says, associations can foreclose on your property if you don't pay your dues.

WHEN YOU BUY INTO A CORPORATION, YOU SAY YOU'RE GOING TO LIVE BY THE RULES OF THE CORPORATION AND YOU SOMETIMES YOU'VE LEFT THE UNITED STATES AND YOU NOW LIVE IN CORPORATE LAND.

The Community Associations Institute says more than 70% of people are happy with their HOA.

Jessica Forres WAMU 885 News

In Frederick, Maryland, a battle over some holiday light displays that pitted neighbors against one another has been resolved.

Jessica Forres attended a meeting last night where the controversy was settled...



Christmas lights and other holiday decorations adorn many of the houses in the Worman's Mill neighborhood of Frederick but the displays at three adjacent townhouses are what raised the ire of the homeowner's association which claimed they are inconsistent with the community's "design concept."

Debra Sachs describes the elaborate decorations outside her home...

A LOT OF SNOOPIES ON DOG HOUSES, AND SNOW MEN AND PENGUINS AND DEERS, AND FROGS WEARING A SANTA HAT.

She and two other homeowners received letters from the association ordering them to remove their displays.

Refusal to do so would subject each of them to fines of 25 dollars a day.

Homeowner Donald Suhaka calls the association's outdoor holiday decoration guidelines "vague"....

THE OTHER THING IS THAT THERE ARE SEVERAL HOMES IN THE COMMUNITY WITH EQUALLY AS MANY AS MINE OR MORE THAT HAVEN'T GOTTEN LETTERS, SO I THINK THEY ARE TRYING TO MAKE AN EXAMPLE OUT OF SOMEONE.

[NAT:PEOPLE TALKING]

The three neighbors stood their ground and last noight, they presented their arguments to the neighborhood association's covenants committee.


In this exchange, board chairman Harvey Alter questions Elena Doe, the third homeowner...

-WHAT PUZZLES US IS THAT YOU WERE INFORMED MORE THAN ONCE AND AT LEAST BY THE THIRD LETTER WE DIDN'T HEAR A RESPONSE FROM YOU.

-I DIDN'T THINK THERE WAS A NEED TO RESPOND BECAUSE MY DECORATIONS WERE APPROPRIATE

After hearing Sach's lawyer and watching Suhaka's "Powerpoint" presentation, the covenants committee ruled in favor of the three homeowners.

Here's board member Joe Pinto...

THEY WERE RIGHT YOU CAN HOLD STEADFAST IN A POLARIZED POSITION WHEN SOMEONE'S RIGHT THEY'RE RIGHT.

Pinto says the fines will be dismissed and association's holiday decoration guidelines will be revised.

Jessica Forres WAMU 885 News

For some people, the holiday shopping over the weekend included buying foreclosed homes at an auction at the Washington Convention Center.

Jessica Forres was there...



[NAT: PREVIOUS VALUE ON THIS HOME AT 750-THOUSAND DOLLARS

The auctioneer is introducing item 104, a 5 bedroom house with two and half baths in Glenn Dale, Md.

The bidding starts at 249-thousand...

[NAT: HERE WE GO. 249, 250]

Chris and Kelina Pham... who toured the house prior to the auction... raise their bidder's card at 3-hundred and 70 thousand...


[DO I HEAR 375… BUILT NEW IN 2004, SOLD.]

It's a deal…the Phams...first time buyers... are now homeowners.

-THIS IS ONE OF THE PROPERTIES WE HAD IN MIND.
-HOW DO YOU FEEL?
-HAPPY, EXCITED

Trent Ferris...with Real Estate Disposition Corp, the sponsoring company...calls it one-stop shopping for buyers...

THEY COME IN, THEY HAVE A CASHIERS CHECK, A FORM OF ID AND ADDITIONAL FORM OF PAYMENT, A PERSONAL CHECK WHATEVER TO COVER THE EARNEST MONEY DEPOSIT.

Winners were escorted to another room where financing is arranged...

WE'RE GETTING HOMES BACK INTO THE COMMUNITY AND BACK INTO THE HANDS. WITH THE AUCTION PRICES PEOPLE ARE ABLE TO GET HOMES MUCH LOWER PRICES AND MORE HOME THAN THEY THOUGHT.

But real estate agent Steve Withrow says that's not always the case...

I WOULD ASSUME MORE OFTEN THAN NOT THEY ARE ACTUALLY NOT THAT GREAT OF DEAL AS THE BUYERS THOUGHT THEY WERE GOING TO BE FROM THE START. THIS PARTICULAR PROPERTY THAT WE WENT TO YOU KNOW IT WOUND UP SELLING FOR SIGNIFICANTLY HIGHER THAN IT WOULD'VE SOLD IN THE OPEN MARKET.

More than 2-hundred foreclosed homes were sold this past weekend.

Jessica Forres WAMU 885 News

________________________________________


For some local residents, home foreclosure auctions are offering the opportunity to secure their own piece of the "American dream", but as Jessica Forres reports….those auctions may not provide buyers with the best deals...


[ NAT: AUCTIONEER]

Sandor Biderman is disappointed that the house he wanted just sold for more than 500-thousand dollars...

I WAS LOOKING TO BUY LOW AND SELL HIGH. IT'S PROBABLY THE FAIR-VALUE TODAY.

Trent Ferris is with Real Estate Disposition Corp... which sponspors auctions across the country...

PEOPLE ARE ABLE TO GET HOMES MUCH LOWER PRICES AND MORE HOME THAN THEY THOUGHT.

But local real estate agent Steve Winthrow says that's not always the case...

MORE OFTEN THAN NOT THEY ARE ACTUALLY NOT THAT GREAT OF DEAL AS THE BUYERS THOUGHT THEY WERE GOING TO BE FROM THE VERY GETGO.

The company sold more than 2-hundred foreclosed houses in the DC region this past weekend.

Jessica Forres WAMU 885 News

The District says progress is being made in the effort to revitalize the Anacostia Waterfront despite the nation's economic crisis.

Jessica Forres reports…

ANACOSTIA1-FORRESmp3'>LISTEN TO THE STORY THAT AIRED ON WAMU 88.5 FM

Inside the Red Porch Restaurant at Nationals Ballpark, Mayor Adrian Fenty lists the more than 8 billion dollars worth of economic development projects that are moving forward…

POPLAR POINT, SOUTHWEST WATERFRONT, HILL EAST WATER FRONT, WATER FRONT STATION WHICH IS KNOWN TO A LOT OF US AS WATERSIDE MALL AND THE YARDS…

Those projects are part of a 20-year plan to build housing, offices, retail stores and parks on the east and west banks of a pollution-free Anacostia River...

DEVELOPED A ANACOSTIA 2032 PLAN TO MAKE THE ANACOSTIA RIVER BOATABLE, FISHABLE AND SWIMMABLE AND THAT WE'VE ADDED REAL TIME WATER QUALITY MONITORING TO OUR WEBSITE.

Neil Albert, the city's Deputy Mayor for Planning and Economic Development, says the financial crisis has made getting projects financed a much longer process but not a more difficult one...

THE FACT THAT THE DISTRICT IS INVOLVED IN MANY OF THESE DEALS HERE THROUGH PUTTING THE LAND IN OR MAKING SOME KIND OF FINANCIAL CONTRIBUTION IS REALLY HELPING TO SUSTAIN A NUMBER OF THESE PROJECTS BUT WE CONTINUE TO BE BULLISH IN THE DISTRICT.

A free community fair to celebrate the ongoing progress will be held tomorrow at Nationals Ballpark.

Jessica Forres WAMU 885 News

Foreclosure Bus Tours Roll in Maryland

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