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Prince George's County Hosts Annual Housing Fair

 

Landover, Md. – The Prince George’s County Department of Housing and Community Development will be partnering with the Prince George’s County Association of Realtors, the Maryland Department of Housing and Community Development, and the Prince George’s County Human Relations Commission to host its annual housing fair at the Prince George’s Sports and Learning Center, 8001 Sheriff Road on Saturday, June 11 from 10 a.m. to 3 p.m. 

Montgomery County has Regions Richest Communities

Montgomery County has Regions Richest Communities

WASHINGTON (AP) - Montgomery County is home to the three wealthiest communities in the region, each with a median household income of more than $200,000.

That's according to data from the U.S. Census Bureau's American Community Survey. Data collected between 2005 and 2009 found that southern Chevy Chase has the highest median household income in the region, more than $232,000 annually.

Households in Brookeville and the section of Chevy Chase near East-West Highway also both have median household incomes of more than $200,000 per year. Washington's median household income is about $60,000.

Montgomery County Foreclosures Hit Two-Year Low

The Gazette.net reports that Home foreclosures in Montgomery County are at their lowest level in two years, according to a county report released last week.

There were 1,428 foreclosure events in Montgomery County in the third quarter of the year — July through September — data shows, a number that is down about 10 percent from the previous quarter.

Among those county residents who narrowly escaped foreclosure is Carol Smouse, who nearly lost her Germantown home last year when she was laid off from her job as a saleswoman and couldn't pay her bills.

After losing her job in February 2009, Smouse, 50, was able to make her $1,500 mortgage payments for about two months using money from her savings and retirement funds.

"Eventually I ran out of money and was unable to make my payments," she said.

Montgomery County Housing Fair

Montgomery County's annual Housing Fair and Financial Fitness Day will be held, rain or shine, on Saturday, October 2 from 10 a.m. to 3 p.m. at the Bohrer Park Activity Center, Summit Hall Farm, 506 S. Frederick Avenue, Gaithersburg, MD 20877.  To celebrate the tenth anniversary, the fair will expand its educational outreach to the community and provide new networking opportunities and publicity benefits for Sponsors and Exhibitors: housing providers, businesses, banks, credit unions, realtors, government agencies, community organizations, and nonprofits.

Prince Georges County experiencing highest Foreclosure Rates in the Region

Prince Georges County has been experiencing a continued spike in foreclosures despite a new ruling that went into effect July 1. On July 1, the Maryland legislature’s “Mediation before Foreclosure” rule went into effect. Under this ruling, homeowners facing foreclosure can ask for a mediation hearing to explain their specific situation to the Judge and maybe get more time to improve their situation. Unfortunately, Judges have not been enforcing this ruling and many homeowners are still losing their homes at a rapid pace. Many of these homes now sit empty and are becoming a blight which is negatively impacting the Prince Georges housing market. Area real estate agents have no choice but to sell these homes through the short sale process which affects the housing prices in the surrounding area.