Skip to main content

Jenn Klarman, SRES, e-PRO, ASP, REALTOR®

Real estate, from beginning to end and beyond! So, let's get started! Call/Text: 240-832-2486 or Email: JKLARMAN@LNF.COM

Real Estate and Beyond  Social Media  Referrals  Buyers  Sellers  Renters  Contact Me  Site Map  Member Login   
Local Market Watch
Call To Action
A Preferred Realtor
Seniors RE Specialist
About Me
Jenn's Blog



> I realize your time is valuable; so, I'll do my best to provide you with useful information. I keep my site current; so, please feel free to visit often! If you see an area you feel could use some improvement (or you particularly like), I'd love to hear from you!
All the best! Jenn

240-832-2486 / JKLARMAN@LNF.COM 


You're welcome to follow me on Twitter and Facebook! Oh! And, LinkedIn, Pintrest, Yelp and others, too! ;)


JANUARY 2, 2014

National Housing Sales Outlook

Written by Blanche Evans

In November, existing home sales volume fell below year-ago levels for the first time in 29 months.

Sales volume was 4.96 million in 2012 and fell to a seasonally-adjusted pace of 4.9 million in 2013, according to The National Association of REALTORS®.


The NAR blames higher mortgage interest rates, constrained inventory and continuing tight credit, which may get worse in 2014.


Explains Lawrence Yun, NAR chief economist, "There is a pent-up demand for both rental and owner-occupied housing as household formation will inevitably burst out, but the bottleneck is in limited housing supply, due to the slow recovery in new home construction. As such, rents are rising at the fastest pace in five years, while annual home prices are rising at the highest rate in eight years."


Between October and November, sales volume dropped 4.3 percent.


The national median existing-home price for all housing types was $196,300 in November, up 9.4 percent from November 2012. But prices can't continue to rise if the number of transactions slows down.


Inventories are already higher than they were a year ago. In November, housing supplies were at 5.1 months on hand, up from 4.8 months on hand a year ago.


When housing supplies are under six months on hand, it's considered a buyer's market, but when supplies start to build, it's worth taking note.


Experts are looking ahead to January 2014 when the housing recovery could face new challenges - rising interest rates, stricter underwriting rules, and lower income-to-debt ratios for mortgages.


> MORE INFO: RealtyTimes on Monday, 30 December 2013 1:22 pm


JANUARY 2, 2014

News from Prosperity Home Mortgage


New Year, New Venture /



Tom Wilson, CEO, Prosperity Home Mortgage: We’re excited to become a wholly owned mortgage banking subsidiary of The Long & Foster Companies on January 2, 2014. The transition will allow us to become more flexible and nimble in not only our decision making, but also in our product offerings — a tremendous benefit for all our clients. Now you might be wondering what exactly will change on that date, so let’s answer that question.


>Effective January 2: Prosperity Home Mortgage will open as a wholly owned subsidiary of Long & Foster Companies, transitioning from a joint venture between Long & Foster and Wells Fargo Ventures.


> We will be a direct seller/servicer for Fannie Mae and Freddie Mac. Prosperity Home Mortgage remains a mortgage banker as we previously were, but instead of selling our loans to Wells Fargo, we will sell them directly to the agencies (that is, Fannie Mae, Freddie Mac and Ginnie Mae). The big benefit in this process is that we can now create our own guidelines and policies that fit the needs of our clients.


> Prosperity Home Mortgage will offer in-house processing, underwriting and closing at the five operations centers across our footprint. In the past, underwriters worked for Wells Fargo. Our Prosperity team also now coordinates appraisals and fulfillment in house.


> We will have more control over our loans, and all exceptions or escalations will be handled in house, which allows us to make our own decisions promptly and efficiently.


> We will have complete control of our own products and pricing. That means, we set our prices and rates to ensure your clients get the most competitive loans available.


As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the entire mortgage industry will have to follow the qualified mortgage (QM) and ability-to-repay (ATR) guidelines. But Prosperity Home Mortgage’s transition to a wholly owned Long & Foster company will allow us greater flexibility and control over the implementation of these industry changes. In doing so, this ensures you and your clients continue to receive the high quality customer service and competitive loan products that you’ve come to expect from us.


So what’s the bottom line? Moving from a joint venture to a wholly owned company allows us to more easily navigate any challenges presented by industry regulations—both today and in the future. We are well positioned to provide extraordinary customer service to you and your clients, and we look forward to serving you in 2014 and beyond.



When is a Real Estate Agent a REALTOR®?


A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors and abides by its strict Code of Ethics.

Long & Foster Real Estate, Inc.
Annapolis Sales
102 Old Solomons Island Road
Annapolis, MD 21401
410-266-5505 office
410-224-0875 office fax
410-867-1101 home office fax

Jenn Klarman, SRES®, e-PRO®, ASP®, REALTOR®

240-832-2486 cell