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Concerning Real Estate in and around Baltimore County Maryland, with emphasis on the Real Estate Investor
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 Over the past few years I find myself more and more in a counseling mode when it comes to debt management and saving for a new home. The previous home surge allowed many people to fall into a trap believing home prices were growing faster than their income and they could never afford a home, so they just stopped working on managing their debt or saving money. You could say that money was "flying out the window"!
If you are struggling with your current economic situation, let me start by saying that there are only two ways to change it and I don't care what excuse you come up with, there are only 2 ways: To eliminate your economic challenge you MUST either increase your income or reduce your expenses. It gets no more basic than that! I know your thinking "Well, DUUUUUHHHH!" I have no doubt that this is something you have already heard and know, but have been unable to come up with a plan to do either. I have taken many a couple through the steps into a secure financial future, although I am not a financial planner nor counselor. I have not had any formal training or education in this field but I do pass on many things that I have learned over the course of my mistake riddled life, when it comes to financial well-being. I could at this point go into the importance of a written budget. I could also explain the next step in saving an emergency fund, or starting to systematically pay off debt, but it would be far too much information to put in one blog post-it could also fill several websites, which I don't have time to build. So I guess the best way for you to learn to manage debt and to save money is to send you to a true professional that has lived through the good and the bad financial decisions. MEET DAVE RAMSEY! Dave is one of the leading authorities to financial peace and security, as well as being a Christian brother. Take some time to look through all of the information on his website-buy his book, or attend one of his workshops. You can also talk live to him on his radio program or tv show. Dave's simple steps have taken many to a debt free life in a very short time. Set up your emergency fund, start your debt snowball, then follow the other 5 baby steps to a debt free life. You will be amazed at how quickly you can be out of debt and in your new home. As a disclaimer, I do not receive any compensation for this endorsement other than that from people who follow Daves program and then are able to purchase their first-or next-home. If you have completed the baby steps or are working on them feel free to add your comments to help others stay with the program to acheiving their financial peace!  Stephen D Luckett
LuckNet Real Estate Group
443-384-6000 office 443-912-4866 cell
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It has been a while since I updated our foreclosure and Short Sale listings so I wanted to take a moment and get the word out! We have a whole new list of current foreclosures and Short Sales that we need to find buyers for-Check it out today and give me a call!  Stephen D Luckett
LuckNet Real Estate Group
443-384-6000 office 443-912-4866 cell
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Well, leave it up to Maryalnd to lead the way on increasing taxes to the Maryland Home buyer! I received an email from my attorney within the last few days explaining the new process for calculating transfer taxes and recordation fees to all short sales. Previously all taxes were calculated based on the CONTRACT PRICE, which is fair since that is what is being PAID for the property. But our legislature feels that the seller of a short sale property has reaped the benefit of ADDITIONAL MONEY since they mortgaged say 25% more than the home is currently worth. So why shouldn't the Government get taxes based on the amount of the MORTGAGE BALANCE? Lets just take a quick look at what this means using numbers from a short sale I did last year: Contract price of the home: $350,000 Transfer tax/recordation on contract price: $8925 Mortgaged amount on property: $520,000 TT/R on Mortgage amount: $13,260 An additional $4335 in taxes to the State Government!!! Ok, I agree not every transaction is like this one, so lets take a look at what it means to the majority of transactions. The average sell price of a home is around $225,000. In the short sales that I have been involved with, the average mortgage on these homes have been around $300,000. TT/R on $225K= $5738
TT/R on $300K= $7650
Difference $1912 $1912 that someone will have to pay. So, let's see, the bank is already taking a loss of at least $75,000. The seller, in most cases, has no money, so that only leaves one person in the transaction-the BUYER! Is that a conversation that we want to have with a buyer who is a little apprehensive anyway? I guess the State does have to make up the short fall of income they had through this economic downturn. So if there are 1000 SS transactions this year-that would be another $1.9M in the State Couffers. It will be very interesting to see how this plays out. Will it help increase money to the State or will it have a negative impact on the local Real Estate Market? Read the full email from my attorney HERE! 
Stephen Luckett
LuckNet Real Estate Group 443-384-6000 office 443-912-4866 cell
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Are you still looking for your first home to capitalize on the $8000 tax credit-Time is running short so take a look at the new listings in Gray Manor, Dundalk 21222. How about your next home? Are you ready to move from that row home to a single family for more space or yard? Below are the new listings in the last 30 days in the Gray Manor area of Dundalk-one of the most sought after areas of Dundalk. Check out the new listings and then give me a call and I will show you how easy it is to get into your first...or next.... new home! NEW Gray Manor Listings Stephen Luckett
LuckNet Real Estate Group 443-384-6000 office 443-912-4866 cell
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It has been a while since I updated our foreclosure and Short Sale listings so I wanted to take a moment and get the word out! We have a whole new list of current foreclosures and Short Sales that we need to find buyers for-Check it out today and give me a call! Stephen Luckett
LuckNet Real Estate Group 443-384-6000 office 443-912-4866 cell
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Do you wonder what is happening-or will happen-in your Dundalk Community? Come join Democracy in Action and meet some of your local elected officials: HONORABLE SENATOR NORMAN R. STONE, JR., HONORABLE JOSEPH J. (SONNY) MINNICK, HONORABLE JOHN A. OLSZEWSKI, JR., HONORABLE MICHAEL H. WEIR JR., Honorable Councilman John Olszewski, Sr.
(the councilman was invited but will not be in attendance due to official council session in Towson, but will be represented by a legislative member of his staff who will be in attendance) Monday Spetember 21, 2009
7:00pm Ateaze Senior Center
7401 Holabird Ave
Dundalk, MD 21222 Sponsored by: Norwood Holabird Community Association http://www.nhca.info/ Stephen Luckett
443-912-4866 cell
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Click on picture-video opens in new window. I stand as a proud step-father of my 16 year old step-son, after he showed me the video he put together of our day spent in Washington, DC on Saturday September 12, 2009. I will post much more about the day in the future, but I wanted to get this out there to show that there are some young people in this Country that do have conservative values. I don't believe he will choose a political career, but I do believe that through different mediums, he will effect positive change! Stephen Luckett
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Are you a first time home buyer but still sitting on the fence about whether it is time to buy? Have you been living under a rock and not heard about the $8000 tax credit? Well add to that County and State assistance programs that give you up to $35,000 in down payment assistance and add to that up to $15,000 in closing cost assistance and minor cosmetic repair reimbursement----What are you waiting for? I just closed a deal with a client on a 3 bedroom 1 bath ranch on 1/4 acre of ground in Baltimore County with the NSP program and heres the breakdown: $35,000 down payment from County
$8,200 closing cost assistance from County
$4995 repair allowance from County-patch, paint, replace some doors & windows, new water heater, some plumbing and electric work-all completed before closing
Less than $1800 out of pocket for the client and they are moving into their new home! What else do you need? Check out the County and State program links then give me a call-you new home awaits-but time is running short since you must close before December 1, 2009! Maryland Mortgage Program Baltimore County open PDF file for overview of County programs Diversified Housing Harbel Housing Stephen Luckett
LuckNet Real Estate Group 443-384-6000 office 443-912-4866 cell
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 I have written several times about the opportunitues that are around in the Gray Manor area of Dundalk, MD 21222-but you know what...........MANY OF THOSE OPPORTUNITIES ARE NOW GONE! Properties are selling quickly and the First Time Home Buyers $8000 Tax Credit is coming to a close. (MUST CLOSE BY 12/1/2009)
Check out what is still available! You will notice on the list that there are more sold than what is currently available so...Don't hesitate any longer or your home ownership opportunity in Gray Manor may be gone! You can see that Gray Manor is still one of the hottest areas in Dundalk and still very affordable for the first time buyer. Give me a call today so I can help you realize your home ownership dream before the December 1, 2009 deadline of the tax credit!
Stephen Luckett
LuckNet Real Estate Group 443-384-6000 Office 443-912-4866 cell
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Approved Short Sale!
• 3.5 bath, 3 bdrm 2 story -  MLS® $265,000 - BACK ON THE MARKET! Windsor Mill Manor, Lochearn - BACK ON THE MARKET! Listed well below area comps. APPROVED SHORT SALE just need an offer! Awesome opportunity to get this beautiful 3bd/3.5 ba home in Baltimore County. Large end of cul-de-sac in quiet, no traffic neighborhood, yet minutes to 695, 795. Beautiful Hardwood floors on main level, Jacuzzi tub, finished basement, with extra room for office or 4th bedroom. Third Party Approval, as-is addenda required, No seller repairs, and must use sellers title company. Property information
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I always love to pass along some inspiring writings, pictures, or videos and this one is truly no exception! The pictures were sent to me individually by email and I placed them in the video format and added the music.  Please click on the picture to view the video! Thanks for viewing. I have also uploaded the video with other videos and life changing books on my website. Feel free to visit and see how these can significantly impact your life!
Stephen Luckett
LuckNet Real Estate Group 443-384-6000 office
443-912-4866 cell
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The $8000 tax credit for first time home buyers is set to expire December 1! Are you still on the fence, thinking whether this is the right time to buy? According to statistics just released from the National Association of Realtors, we have had two months in a row of sales growth in the housing market! This means that more people are out buying and prices of homes have leveled off. Take a look at the chart below: | Years | Units Sold | Avg Sold Price | $ Yr-Yr change | Yr-Yr change % | Cumulative Total $ | Cumulative Total % | | 1/2001-12/2001 | 598 | $82,130.00 | | | | | | 1/2002-12/2002 | 616 | $84,870.00 | $2,740.00 | 3.34% | 2740 | | | 1/2003-12/2003 | 629 | $91,735.00 | $6,865.00 | 8.09% | $9,605.00 | 11.69% | | 1/2004-12/2004 | 710 | $107,304.00 | $15,569.00 | 16.97% | $25,174.00 | 30.65% | | 1/2005-12/2005 | 808 | $144,661.00 | $37,357.00 | 34.81% | $62,531.00 | 76.14% | | 1/2006-12/2006 | 729 | $170,551.00 | $25,890.00 | 17.90% | $88,421.00 | 107.66% | | 1/2007-12/2007 | 553 | $179,582.00 | $9,031.00 | 5.30% | $97,452.00 | 118.66% | | 1/2008-12/2008 | 422 | $166,415.00 | -$13,167.00 | -7.33% | $84,285.00 | 102.62% | | 1/2009-7/2009 | 215 | $139,782.00 | -$26,633.00 | -16.00% | $57,652.00 | 70.20% |
*From Metropolitan Regional Information Systems 08/2009 The numbers represented in the chart are for Dundalk, 21222 over the previous 7 years. As you can see the 2008 average sale price ($166,415) is below the sales average from 2006 and in the first half of 2009-prices have dropped to pre-2005 prices. With prices down, Mortgage interest rates low, high inventory, AND the tax credit Now is definitely the time to buy. With FHA financing, you can get into many homes for just 3.5% down! Add to that some City or County programs and its easy to buy your first home. Take a look at the homes available in the sought after Gray Manor area of Dundalk right now! A 2 bedroom 1 bath row home right by the park for just $139,900! Or a Huge 5 bedroom 2 bath single family home on a 6000 SF lot for just $299,999. There are so many options in this great community. Take a look-or if you would like notified IMMEDIATELY when anything comes on the market in Dundalk-contact me (steve@lucknetrealestategroup.net) I will do everything I can to get you in your new home before the December 1 deadline! Don't hesitate and say "I wish I woulda........." Stephen Luckett
LuckNet Real Estate Group 443-384-6000 Office
443-912-4866 cell
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