By having seven schools in the top 100, MCPS breaks its own record of six, set in 2008. Last year, MCPS had four schools in the top 100.     The seven high schools are Richard Montgomery (33), Poolesville (59), Bethesda-Chevy Chase (63), Winston Churchill (75), Thomas Wootton (83), Walt Whitman (85), and Walter Johnson (95). The remaining MCPS high schools all finished in the top 3 percent of all schools in the nation.

MCPS is the only Maryland district with schools in the top 100.     “The Newsweek report is another confirmation that the reform efforts we have put in place the past 11 years are having a very positive impact,” said Patricia O’Neill, President of the Montgomery County Board of Education. “We have made a commitment to giving all students access to college-level work, so they are better prepared for the rigors of post-secondary classes.”    Several MCPS high schools made significant gains on the list from last year, most notably Poolesville High School, which jumped from 305th to 59th this year. The list is based upon the “Challenge Index,” developed by the Washington Post, which put out a ranking of Washington-area schools earlier this year. MCPS had five schools in the top 10 on that list.

Receiving a college ready score on an AP or IB exam has been identified as one of MCPS’ “7 Keys to College Readiness,” a series of K-12 benchmarks that lays out a pathway to college preparedness.     Students who succeed in rigorous classes, like AP, are more than three times as likely to get a bachelor’s degree than those who do not, according to college completion data.  Among MCPS students in the classes of 2001-2004, only 25 percent of those who did not take an AP exam earned a bachelor’s degree.

But among those students who took at least one AP exam, 60 percent earned a degree, and among those who scored 3 or higher on at least one exam, 76 percent earned a bachelor’s degree.    “By providing broader access to rigorous classes, we are giving our students a distinct advantage in college,” Superintendent Jerry D. Weast said. “Simply taking an AP class more than doubles a student’s chances of earning a bachelor’s degree, which leads to higher lifetime earnings and greater success in the workplace.”
The Newsweek list is the latest in a string of accolades about the performance of MCPS students:

• MCPS has the highest graduation rate among the nation’s large school districts, according to a report released by Education Week on Thursday. The MCPS graduation rate of 83.1 percent is significantly higher than the state and national rates.
• The class of 2010 has earned $232 million in college scholarships so far this year, an all-time record for the district and nearly $50 million more than last year.
• MCPS has been named one of five finalists for the $1 million Broad Prize for Urban Education, which recognizes large school districts that raised student achievement and narrowed the achievement gap.

America’s Best High Schools Rankings for All MCPS Schools

Source: Newsweek’s America’s Best High Schools 2010

See frequently asked questions about the list.

Source: MCPS, http://www.montgomeryschoolsmd.org/press/index.aspx?page=showrelease&id=2783

Questions?  Give us a call.  We’re here to help!

1.  $8,000 for new buyers: This credit is equivalent to 10 percent of the purchase price of the home–although it’s capped at $8,000 and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, This one does not have to be repaid.

2.  First time buyers defined: For the purpose of this legislation, a “first-time home buyer” is someone who hasn’t owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you’ve owned a vacation home–but not a principal residence–within the past three years, you would still qualify for the credit.

3.  2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won’t be able to take advantage of it.

4.  Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that’s $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.

5.  Refundable: Because the tax credit is “refundable,” qualified buyers can take advantage of it even if they don’t have much tax liability. This tax credit will be refunded to a buyer, if his year end tax liability is less than the credit.

6.  Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)

You must SETTLE by November 30, which means you should be under contract on your purchase by the middle of THIS MONTH!  Call me at 301-704-7973 to take advantage of this AMAZING deal from the feds.  Hurry, offer ends soon!

Go to the Google Maps page (www.Google.com/maps) then type in a desired zip code or city into the search bar.

Use the drop-down to indicate the search is for “real estate” then click on “foreclosure” to filter the results. [If you don't see the drop-down, click "show search options" next to the "search maps" button at the top of the page.]

Not only will you have a list of foreclosures, photographs and a map to each property but it’s possible to take a virtual tour of the neighborhood for many areas.

Save gas, find that foreclosure property from the comfort of your living room couch.  Then call us at 301.785.5889 to arrange a private showing.

It’s as easy as point, click, and call!  We’re here to help!

First a few facts for you to consider; the Cash for Clunkers program is not just a domestic program. In fact, ten other nations have implemented their own versions with similar results.

Next, Cash for Clunkers does not equally benefit all people.

Those with new, energy efficient vehicles will not benefit. Those with very limited budgets that only purchased modest priced used cars will not benefit. Those that recently purchased a car are plain out of luck and those that purchase after the program is over will not benefit (unless the program is extended). Also, those that do not purchase a car but pay taxes to support the program certainly do not benefit. Those that are in a position to purchase a new car and act now will receive the majority of the benefits from the program.

Finally, the program may actually hurt the poorest and most vulnerable population by eventually driving up the cost of used cars and parts by taking the current clunkers off the road permanently.  With fewer used cars to compete with (and fewer used parts to make affordable repairs…combined with fewer automobile dealerships and repair shops), the price of new cars will become more competitive (ie, the price difference between buying new versus used will not be as great).

Once the price of new cars stabilizes, the price of used cars will soon follow. Of course, it only makes sense. The government has spend big bucks bailing out a faltering auto industry; one of the last forms of big business remaining in this nation. Unfortunately, American cars haven’t sold well for years and profits were disproportionately generated by financing rather than actual car sales. So, how does this apply to real estate?

It’s important to understand the trend. Pay close attention to how the global community is responding to the need to jump start the economy. While private corporations have been using planned obsolescence for years to increase sales (it’s not your imagination – your products have been carefully calibrated to fall right after the expiration date!), never before have governments instituted mandates that required the destruction of property In order to uphold prices and stimulate the economy.

Additionally, proposals such as the Cap and Trade bill contain stringent energy and building codes which could effectively create a similar situation in real estate. Old homes that consume excessive amounts of energy may not be affordable options in the future – instead, they could be fodder for new programs designed to invigorate the building and construction trades here at home. 

The result will be the same; higher labor costs for new construction combined with more stringent building requirements and specified energy efficiency ratings are likely to drive the cost of new homes higher while simultaneously tearing down old cracker houses and other super affordable options. The end result is likely to be higher prices for both new and pre-existing homes making this the perfect opportunity to purchase short sale property at reasonable rates.

(thanks to Chris McLaughlin for this excellent commentary!)

Are you looking for the perfect home, but torn between communities?  Would it be helpful to put the two neighborhoods side by side and evaluate each on schools, household size, diversity, and more?

Here’s your answer!  FREE community reports and comparisons:
http://www.kittlemanrealty.com/community_report.asp#

Check it out right now – no registration necessary!

Remember – we’re here to help!

Check out this excerpt from a recent Baylor University study:

“The center surveyed 840 members of the American Economic Association. Their predictions today provide some assurance to potential buyers that the housing market should stabilize during 2009, with price declines ending, sales slowly rebounding and mortgage interest rates staying relatively level in both the near- and longer-terms.

Despite a dramatic decline in home prices during the past two years, nearly 75 percent of the economists surveyed expect the market to bottom out no later than end of this year. Just under half of the respondents expect the bottom to be reached by the end of the second quarter of 2009.”

And it appears that the early signals support the economists’ consensus.

Read the complete article here:
http://www.newswise.com/articles/view/552627/

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Breaking news: Tax Credit Can Be Used on Closing Costs  [this is HUGE, folks!].

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

Have more questions?  Give us a call at 301.785.5889 today.  We’re here to help!

Information from the National Association of REALTORS

If you are looking for help to prevent foreclosure, be sure the counseling agency is on the Department of Housing and Urban Development’s list of approved agencies. Visit HUD’s website for an easily searchable list of HUD-approved housing counseling agencies, or call 877-HUD-1515 (877-483-1515) for more information. If you are approached by foreclosure counselors–by mail, phone, or in person–make sure the counseling agency is HUD-approved before you do business with them.

1. Don’t pay an arm and a leg.

You should not have to pay hundreds–or thousands–of dollars. Most HUD-approved housing counselors provide no-cost counseling services and many more provide low-cost counseling. Do not agree to work with a counselor who collects a fee before providing you with any services or who accepts payment only by cashier’s check or wire transfer. In general, do not pay money to anyone unless you know exactly what services you will receive.

1. Be wary of “guarantees.”

A reputable counselor will not guarantee to stop the foreclosure process, no matter what your circumstances. Working with a legitimate counselor can certainly increase your chances of keeping your home–but be wary of people who promise a sure thing. Again, get the details of your transaction, along with any promises, in writing first.

1. Know what you are signing–and be sure you sign it.

Don’t let a counselor pressure you to sign paperwork you haven’t had a chance to read through carefully or that you don’t understand. Don’t sign any blank forms or let “the counselor” fill out forms for you. Be sure to talk with an attorney before signing anything that transfers the title of your home to another party.

1. If it sounds too good to be true, it probably is.

If you feel you may be the target or victim of foreclosure fraud, trust your instincts and seek help. For tips on spotting scam artists, visit the Federal Trade Commission’s webpage on foreclosure rescue scams. Report suspicious schemes to your state and local consumer protection agencies, which you can find on the Federal Citizen Information Center’s Consumer Action Website.

For more information, visit the Federal Reserve Board’s website.

This Month in Real Estate, May 2009