Between home-showing appointments, house closings, and the hours of research he puts in on behalf of his clients, my son Dovid (aka David, in the business world) allowed me to pin him down just long enough to get this exclusive WWW interview.

Q: What real estate agency are you associated with and what do you enjoy most about your profession?

A: I am a realtor with Prudential PenFed Realty. Although I work primarily in the residential sector, I also help clients with 10-31 exchanges in commercial real estate. I enjoy meeting all types of people and helping them find their dream home.

Inevitably, when I mention that I am in the mortgage business, people tend to give me a pitiful look and maybe a pat on my arm, saying, “It must be really rough for you in this market.” The truth is that in the past few years there has been a mass exodus of mortgage companies and loan officers, yet many companies have done more loans than ever before. Numerous loan officers have been skipping from mortgage company to mortgage company trying to find a new home; a few of them have stuck it out and soared.

When I joined Guaranteed Rate in March of 2000, there were 38 employees. Now, 14 years later, we employ over 2,700 employees and are listed as the eighth-largest mortgage company in the country. That is right up there with the most recognized banks. I have been blessed to be listed as high as the #2 loan officer in the country, out of 200,000 people who work in my field.

Ground Rents – that quintessential Baltimore legal institution – have undergone tremendous change in the past decade. Although commonly described as the situation where an owner owns only the improvements on the property, while someone else (the Ground Rent owner) owns the land, it is, according to legal theory, more aptly defined as a “reversionary interest.” This means that the Ground Rent owner has the right to take back the property (both land and improvements) if the Ground Rent is not paid.

Ground Rents were very attractive to the developers who built-up northwest Baltimore City in the 1950s and 60s. By creating a Ground Rent simultaneously with the sale of the newly-built houses, the developers were able to retain a stream of income from these properties even after selling them, thus making Ground Rents particularly prevalent in our area.

According to a National Multi-Housing Council 2012 survey, approximately 35 percent of households in the U.S. are renters. Reasons for renting vs. buying are quite varied. Many people move into the community for a job and need a year or two to learn the area to see where they want to purchase. Others move for school or residency, and are not sure if they will stay once that assignment is completed. Other reasons include not yet being able to qualify to buy a home, a general desire for flexibility, marriage, divorce, or lack of supply of homes to buy. The point is, many people have to rent, and they are always looking for good-quality housing that is convenient and affordable.

In our community, many different property types are available to the renter, including apartment complexes; “apartment-style” condominiums; town homes, which are typically a part of an HOA or a condo association; and semi-detached and freestanding homes, which are not part of a homeowner association. We will elaborate more on these below.

Note: The nature of the foreclosure process and the parties involved can vary state by state. This article is based on the laws in the State of Maryland and is not a reflection of or guidance on the laws of any other state.

Chances are someone you know is going through the painful process of a foreclosure. It might be the person sitting next to you at work or at shul. Anyone in foreclosure is already dealing with the gut-wrenching experience of potentially losing their home. What makes this process even more challenging is the perplexity that surrounds it. This general overview of the foreclosure process is to provide clarity and guidance to those who are unused to the vagaries of the legal system, and may not know where to turn to for help.

Let’s first explore the identity of those involved in the foreclosure process. Often, the parties listed on the initial notice include only the names of banks or law firms. This can be very confusing and leads to questions like “Who is this lawyer and why have I never heard of him?” or “Does one of these parties represent my interests?” To help clarify, the main parties are the investor, the servicer, the law firm/substitute trustee(s), and the homeowner.

Now is the time for trade-up buying. Although the recession and housing downturn left many Americans with underwater mortgages, the housing market has come a long way, and homeowners are finally seeing their equity increase – some to the point that they can trade up for a more expensive home. 

According to a report from FNC, a real estate data firm, home price gains have enabled many Americans to move up when purchasing a new property. “An important sign of a healthy and sustainable recovery is increased housing turnover driven by trade-up buying, which is more or less discretionary spending,” said FNC director of research Yanling Mayer. “These buyers are typically more responsive to market conditions and financial incentives.”

Mortgage rates generally are on the rise (although rates dipped slightly during December 2013), so buyers are recognizing that the historically low rates of today might not be around tomorrow. Move-up buyers with sufficient equity are finding that now is the time to make a purchase. Eric Tan, a Redfin real estate agent in Los Angeles, said that these move-up buyers know that if they don’t act now, they may be kicking themselves in the months ahead.

Buying a house is usually one of the largest transactions of your life. Without proper advice and guidance from an experienced professional, the process can be overwhelming. A little help can go a long way towards easing the stress of a home purchase. Here are the basics of what you can expect once you have finally found the home of your choice. 

Starting the process: If a real estate agent is involved, he or she will prepare the contract. If not, I recommend that an attorney prepare the contract to make sure it follows statutory requirements and that your interests are adequately

Ahh, Pickwick Apartments. As young newlyweds, my wife Leslie and I rented a two-bedroom apartment on Elray Drive. It had a large kitchen, a washer-dryer, and a beautiful walk-in closet.

Our initial monthly rent, in the spring of 1974, was $190. As time passed we were blessed with two beautiful daughters, and the second bedroom had ample space for them. The monthly rent had increased to $210.

The landlord took care of any repairs. There was no grass to cut, no property taxes to pay, and when a neighbor complained about our sukkah, we were given two weeks to take it down.

Buying a home is usually the biggest purchase of one’s life. You can’t afford to be uninformed and leave things to chance. You are more likely to be satisfied with your purchase if you understand each step, as well as the nuances of market conditions in the area in which you want to buy. At present, in our community, the demand for homes in some areas has exceeded the supply. Finding the right home in the right location at the right price can be difficult. Good houses sell quickly, sometimes with several competing offers. Having the guidance of a seasoned professional, who understands the market dynamics, can be the difference between getting what you want or having to settle for something else.

Being an informed buyer and getting the right assistance means working with an Accredited Buyer Representative (ABR). This can make a big difference in your home buying experience and final results. The Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of Realtors (NAR), award the ABR professional designation to experienced real estate agents who have completed advanced training on representing the interests of home buyers.

Understanding Title Companies

People often ask, “What does a title company do and why do I need one?”                       

A title company makes it possible for a homeowner to pass ownership (title) to a new owner. Buying a home is easily the largest single purchase a person will make in their lifetime, so it is crucial that no title surprises lurk behind the scenes. To protect the buyer, a title professional will search the public records for any problems with the home’s title. This search typically involves a review of land records going back many years. More than a third of all title

Many Baltimoreans have never met a deaf person; many others don’t know that we are fortunate to have a thriving community of people who are deaf and hard of hearing right here in our neighborhood. Those who witnessed the Our Way Shabbaton, which was held in Baltimore, now know that deaf people come in all shapes and stripes, just like hearing people. They have their own language and can fit into the community very well, when provided proper support: read, interpreters. In this second article of the series, Leah Caplan continues the story with her discovery of a world