It's a Great Time to Buy a Home!

Tuesday, May 1, 2012

Q&A with Realtors' Association Vice President Bud Humbert

Q. Tell us about your background in real estate in Charles County and how today's market compares to past years.
A.  I've lived in Charles County for over 50 years, went to school here and developed friendships, raised my family, earned my real estate license and became a Realtor® in the mid-eighties after a short career as a mortgage banker. In 1980 you could buy a 3 bedroom,1 bath rambler in St.Charles for $65,000 but the interest rate was 14%.  Today that same rambler will cost you $175,000 and the interest rate is 3.75%, so you can see that the market is always changing but a qualified buyer can still find a great home here.

Q.  We hear a lot today in the news about affordability-- do you agree that it's a good time to buy?
A.   It's a great time to purchase a home. The mortgage interest deduction is still in place and interest rates are at the lowest level in 40 years. There are a lot of “need a little help homes”* at low, low prices and the new home market has rebounded with builders looking at the long term market and keeping their prices very competitive.
*This is a house that would pass an appraiser’s inspection but could use a weekend warriors updating at the local home improvement store to add value to it.
Q.   What, in your mind, is most attractive about St. Charles for home buyers today?
A.   St. Charles is all about the amenities; just 20 miles from our Nation’s Capital; one of the strongest job markets in the country; shopping at the only indoor mall in Southern Maryland; neighborhood pools, ball fields, golf course and walking distance to schools and a variety of housing options, from short term rental apartments, townhomes, single family detached and senior living areas.
Q.    How does Charles County and St. Charles compare to other real estate markets around the country?
A.   This area is unique, with a diverse mix, and the job market has national, state and local government jobs, military jobs with Andrews, Indian Head, Dahlgren, Patuxent River, Bowling, the Navy Yard, and the Pentagon.
Q.  How should people determine whether they should be renting or buying?
A.   Length of stay in an area, tax advice, family size and obligations.
Q.   If you could give three top pieces of advice to a homebuyer in today's market, what would they be?
A.  1) Get prequalified from a recommended mortgage  banker.
2) Always consult with a licensed Realtor® as a Buyer’s Agent working on the Purchasers behalf.
3) Determine what you are buying: Is it for investment to move up in a few years? Is it your dream home you wish to stay in for the rest of your life?

Thank you, Bud!

Bud Humbert has lived in Southern Maryland for 52 years. He has spent 31 of those years working in real estate sales, new home construction, mortgage banking and property management. Today, Bud is an Associate Broker with Century 21 New Millennium in Waldorf and team leader of Bud Humbert Team Advantage. Bud is also President of Goldbert Investments Inc., a real estate holding company valued at more than $5 million, as well as Vice President of Advanced Residential Management, a property management company for commercial, single family and multi-family dwelling units. Bud has received ten Centurion Awards from Century 21, placing him and his team in the top one half of one percent of real estate professionals in the Country.
Bud has been married for 23 years, has a son and a daughter, two grandchildren and a dog. He enjoys hunting, fishing, traveling either with the family in his RV or just taking a trip on his motorcycle.  He has been the President of the Greater Waldorf Jaycees, The Waldorf Lions Club, and is currently serving as the Vice President of the Southern Maryland Association of Realtors®, and as a Trustee for the Maryland Association of Realtors Political Action Committee.