June 10, 2011 Newsletter

Our annual Tennis Tournament for the benefit of Shock Trauma raised over $4500.00 for the cause. We were fortunate to have a beautiful day with over 30 participants. Thank you for all who played or contributed.

According to the most recent survey of real estate sales across the country the Washington DC area sales was one of the few areas that saw an increase in sales price. While the market still has a way to go to return us to pre recession pricing, it appears that our area is starting to experience a stabilization of home prices.

Interest rates continue to confound me, in that we have fixed rate 30 year conventional rates around 4.5% and 5 and 7 year adjustable loans with rates in the low 3% range. Affordability has never been greater given the price of housing and the cost of money.

We are continuing to assist individuals with loan modifications and short sale negotiations. The key thing to remember in dealing with your lender is to stay on top of them. Lenders are inundated with requests and are slow to react. Make sure you have a complete set of documents to send to the lender or they will not review your request.

We welcome Kevin Stroud who has recently joined Colony as a marketing rep and settlement officer. Kevin has 15 years in the business and focuses on real estate transactions in Anne Arundel, Prince Georges, Charles and St Mary’s counties , as well as the District of Columbia and Northern Virginia. We are getting licensed in DC and Virginia to expand our ability to service our clients.

We want to be your title company and law firm. If you have questions email them to me at tee.tillman@colonytitle.com or call at 410 884 1160.