Foreclosure Process in Maryland

Receiving notice that your house is about to be foreclosed upon is one of the most traumatic things you can go through. However, when you sign your mortgage or deed of trust at the real estate closing and it is recorded in your County’s Land Records office, you give your lender the right to foreclose on the property if you default on the loan or fail to repay the loan according to the terms of the loan.  A new foreclosure law went into effect in Maryland on April 4, 2008 and any foreclosure action filed after that date must comply with the new law.  The foreclosure process and your rights in that process under the new law are outlined below.

What Will Happen if my Property is Going Into Foreclosure?

Before the foreclosure is filedBefore a foreclosure action is filed, you as the borrower and property owner should have received notice from the lender that there is a problem with your loan account and from the lender’s attorney that there is a default under the terms of the loan. Many mortgages require the lender to give notice of the default and of your right to remedy the default before filing foreclosure. Do not ignore or delay in responding to any written communication from your mortgage lender. The sooner you contact your lender, the greater the chance you can work out a solution to your situation.

In Maryland, before the lender can file a foreclosure case against your property, the lender must:

-Wait 90 days from the date that your loan is in default; and -Send you a Notice of Intent to Foreclose 45 days before the foreclosure case is filed.

-The Notice of Intent to Foreclose will provide you with important information about why your loan is in default, the amount you owe to bring your loan current, the last payment received, contact information for the lender or secured party, for the mortgage servicer that collects your mortgage payments and for the department that can help you work out your default (the loss mitigation department).

Filing the foreclosure caseTo begin a foreclosure case, the lender must file the foreclosure with the Circuit Court in the county in which the property is located.  The lender must file the following documents with the court:

-Statement of debt, under oath, which itemizes the entire amount the lender claims is due under the loan. This will usually include principal, interest, late charges, attorneys’ fees and all other charges that the borrower is responsible for under the mortgage;

-Certification that the property owner is not a member of the military service. Under a federal law, commonly known as the Soldiers’ and Sailors’ Civil Relief Act, members of the military service have specific rights when lawsuits are brought against them (including foreclosure proceedings) since they may not be in the U.S. due to a military assignment and unable to adequately defend their interests;

If you are a member of the military service and find a property owned by you is the subject of a foreclosure action, you should ask an attorney what additional rights you may have as a result of this federal statute.

-Statement, under oath, that indicates the date of default, the nature of the default and the date the Notice of Intent to Foreclose was sent;

-A copy of the Notice of Intent to Foreclose;

-Original or certified copy of the mortgage or deed of trust;

-Copy of the debt instrument and an affidavit of ownership;

-Original or certified copy of the assignment of the mortgage if applicable;

-The mortgage lender and originator’s license number if applicable; and

-A uniform Notice regarding the filing of the foreclosure action

Serving the Property OwnerThe lender must personally serve you with all the papers filed when the case was docketed with the court.  If the lender is unable to serve you after two good faith attempts on two separate days, the lender may file an affidavit with the court describing the attempts made to serve you and the lender may then serve you by sending you a copy of the court papers, by both certified and first class mail AND by posting the court papers on the property.

Before a Foreclosure Sale can be held Before a foreclosure sale can be held, the lender must:

-Wait 45 days from the time the defendant was served.

-Publish a Notice of Sale for three successive weeks in a newspaper of general circulation in the county where the action is pending. The first advertisement should be published not less than 15 days prior to the date of sale and the last advertisement should be published not more than 7 days prior to the date of sale.

-Send a notice of the date of sale to the homeowner by certified and first class mail of the time, place, and terms of the pending foreclosure sale. This notice must be sent no later than 10 days prior to the scheduled sale date. Failure to receive the notice or to sign for it will not stop the foreclosure.

-Accept from the homeowner payment of the funds due to cure the default up to one business day before the sale.  Payment of this amount which includes missed payments, late fees and costs will stop the foreclosure sale if it is made one business day before the sale.

-Note: The secured party or the agent must provide, upon request, the amount necessary to cure the default and reinstate the loan and instructions for delivering the payment

IS IT TOO LATE TO PREVENT THE SALE OF MY PROPERTY?When you are facing foreclosure, it does not mean that all hope of saving your property is lost.  If you have not spoken with your lender, contact your lender immediately and ask for the loss mitigation department of your lender to determine if your default can be cured under a plan.

Before the sale occurs, you have the right to go before the court to prove that you did not default on your loan and stop the sale. You may also go before the court to ask that the sale be stopped if you can prove that the lender committed fraud in obtaining the mortgage or they have violated certain laws when your mortgage was made.  You may also have rights and defenses if the lender fails to follow the requirements of the foreclosure law.  You should consult an attorney for advice and assistance if you believe you have a defense to the foreclosure.

If your lender is unwilling to work with you, filing a Chapter 7 or 13 petition in bankruptcy may be beneficial. A bankruptcy filing before the sale will stay or stop the sale.  Filing bankruptcy after the hammer comes down at the auction will lose the house unless the sale was improperly conducted and you timely object to ratification. Generally, a Chapter 7 filing will provide you with a three-month opportunity to cure your default and, if you can afford your mortgage and a plan payment, a Chapter 13 filing will give you up to five years to bring your mortgage current and pay other debts once the plan is confirmed. Filing a bankruptcy petition is complex; credit counseling is required and most attorneys need three or four days to do so. 

If someone approaches you to help stop your foreclosure, have any documents given to you reviewed carefully before you sign them or before you give any money to anyone.  If you need help, contact the State’s HOPE hotline at 877-462-7555 to get help from its foreclosure prevention assistance network and nonprofit housing counselors throughout the state.

SALE OF THE PROPERTYIf a sale does take place, the property will be sold through a public auction open to anyone who desires to make a bid. Public auctions are usually held on the property or at the courthouse in the county where the property is located.  The trustee must make a report regarding the sale to the court including an accounting of the sale.  After the sale has taken place, but before the court has ratified the sale, you may file objections if the sale was improperly conducted.  Only after the court ratifies the sale can the new owner petition the court to have you evicted from the property if you are still living there. 

Annapolis Maryland, a Beautiful Place to Live

Annapolis, a city of about 36,408 citizens at last count, is in Anne Arundel County, Maryland. It’s humid, subtropical climate makes it attractive to summer visitors, and relatively mild in the winter. This is a relaxed city, with a glorious natural environment and lots to do.

Annapolis centers around its waterfront. The large city dock was developed in the 17th century, as a port for the tobacco trade. Today, it is not only a working port, but home to the Annapolis Power and Sail Boat Show, the nation’s largest in-water recreational water-craft show. Boaters flock to the Severn River and Chesapeake Bay area, where numerous boat basins offer them safe harbor. Visitors can hire a sail-boat tour or a fishing charter and enjoy the day on the sun-soaked water. There are also numerous boating schools for aspiring sailors and power-boaters. There is even a boating school just for women of all ages.

An historic city, Annapolis retains a lot of architecture dating from the 18th century, perhaps even more than nay other city in the US. The city’s Historic Annapolis Foundation works hard to preserve Annapolis’s historic flair. They have saved and contributed to the restoration of over 400 buildings. Along with many other special interest and educational programs, they conduct tours of notable sites in the city, complete with historically-dressed guides.

There is so much to do in Annapolis. The quaint historic districts feature fine shopping, numerous five star restaurants and two theaters, Colonial Players and the Annapolis Summer Garden Theatre. While Colonial Players puts on shows all year long in their small theater on East St., the Summer Garden Theatre performs on an outdoor stage by the dock in the warmer months of the year only. These performances are free and open to the public.

The entire Maryland area contains affluent, highly educated communities. Rumor has it that Maryland suburbs are home to more graduate degree holders than is average in the nation. Something that makes it extra special is that the state’s educated helps to take care of its poor. Annapolis is home to the largest concentration of public housing developments per square foot than any other city in the state. There are public education programs specifically designed to help students from the projects.

Annapolis is a unique and wonderful city to live in. Residents here know it is special, and visitors discover this every year.

Houses for Sale in Maryland – 5 Powerful Tips to Help You Sell Your Home Faster

If you are a seller of a single family home, new home, luxury home or condo for sale in Maryland, then there are techniques that you can employ to ensure that your real estate offering stands out where others fall flat. The real estate market is a tough one to function in presently – and every trick of the trade can benefit you if employed properly. Implement the following tips to maximize your chances of converting your home for sale in Maryland into the next home sold in Maryland.Tip #1: No Pressure AppliedHouses for sale in Maryland are loaded with high-pressure sales agents. Do not be one of them. Instead, graciously greet prospective buyers, offer to answer any questions that they may have – and then leave them alone in the house. You want them to envision themselves living it. You want them to be able to communicate openly and freely – as if you were not there. So, don’t be. Make yourself available without producing any type of pressure on the buyers. Tip #2: Make the Property ComfortableProperties, especially condos for sale in Maryland, are often left at uncomfortable temperatures when unoccupied. Take the time to show up before appointments and get the temperature set correctly. Make the interior of the property feel like home. Make it invite the prospective buyers to stay a while and enjoy how it makes them feel. Worry about the utility bills another time.Tip #3: Create an Enticing Mood and AmbianceLuxury homes for sale in Maryland should represent luxury to prospective buyers. Take the time to set the scene for them before they arrive. Put on some soft music. Light the fireplace. Set a chilled bottle of champagne on a table near the fireplace – and make sure to leave them alone to enjoy it! Use noise-dampening devices like water fountains to make the buyers feel relaxed and at home. That’s the whole idea!Tip #4: Don’t Blast Your Buyers with Loud ScentsNew homes for sale in Maryland should smell fresh already. In older homes and/or condos, it’s alright to use some type of scents in the air, but make them mild and pleasing – never loud. It’s best to let fresh air circulate throughout the unit, unless the weather outside will not permit it. Also, skip the open windows if there is a lot of noise outside. It’s a good idea to simmer some spices or even bake some cookies for your prospective buyers. Whatever you use to please their noses, just make it mild and discrete.Tip 5: Feed Them!People love to eat – so feed them! You don’t have to hire a professional caterer, but you can certainly entice them to visit longer by offering some finger sandwiches, soft drinks, water, desserts and the like. Remember, the goal is to make your prospective buyers feel at home in every way that you can. Treat them well and encourage them to visit as long as they care to – with no pressure. As in all locations across the country presently, there are many new homes, luxury homes, condos and other homes for sale in Maryland. You don’t want to have a home for sale; you want to sell your home. So, take the time to use professional techniques and entice your prospective buyers in every way.

Maryland Foreclosures Include Bargain Priced Hud Properties

Maryland foreclosure listings contain HUD foreclosures. HUD is the federal

government department of Housing and Urban Development. HUD does

not make loans, HUD acts as an insurance agency to banks and home

lenders who are in the business of transacting real estate closings. People

who may not qualify for standard loans many times qualify for a HUD

backed loan. With HUD backing, lenders will qualify these borrowers for a

home loan. In case the homeowner defaults on their repayment of the

loan, HUD then returns the defaulted dollar amount to the lender. HUD

then takes control of the property.

HUD foreclosure properties are evaluated and controlled by the Property

Disposition department. The Property Disposition Department initially

determines whether they will sell the property or place it with a HUD

approved broker. HUD approved brokers can buy the property themselves

or attempt to sell it. Should a broker decide to purchase the property, the

property comes to him “as is”. If any repairs, small or large need to be

done, the broker would assume the responsibility for this. Additionally,

each HUD broker is paid a flat 6% commission for selling the property. If

purchasing the property, the HUD broker is allowed to subtract the amount

of their commission from the purchase price. HUD brokers use this as a

huge negotiating tool.

Some HUD properties are never revealed to the public as it is purchased

from a HUD broker as soon as it becomes available. If a HUD broker then

decides to purchase the property, fixes it, has inspections done, he then

will attempt to sell it at market price, and use conventional methods.

Persons searching for HUD foreclosures should make it a point to develop a

relationship with a HUD broker for best results. All contracts and

transactions pertaining to the closing of a HUD owned property must go

through a HUD approved broker or other HUD authorized agent.

Remember, HUD is not a lending institution, so you must arrange for the

financing of the desired property elsewhere.

When searching Maryland foreclosure listings, be sure not to skip HUD

foreclosures. HUD foreclosures are truly similar to other foreclosures, they

are simply insured by the federal government. Many times they can

provide a great home at a bargain basement price. Good foreclosure

listings should and do carry HUD foreclosures in their properties.

Get Rich Quick! Opportunities Await in Maryland

Who doesn’t want to get rich? Well, a good start would be a move to the prosperous state of Maryland – recently voted the wealthiest state in the whole of the USA. Now, that may come as a surprise to some of you, but in case it could rub off on you, you may want to check into this diverse state.

Climate wise you can take your pick. Although Maryland is only as big as Belgium, in Europe, it has three distinct weather patterns. Happily they all have warm and sunny summers.

Choose from hot, humid (subtropical) summers and short, mild winters – this would be around Annapolis and southern and eastern greater Baltimore. The extreme west of Maryland boasts mild summers and cold snowy winters. The Piedmont region encompassing northern and western greater Baltimore has moderately cold snowy winters and hot humid summers.

Home to the largest estuary in the US (200 miles long), which is spanned by one of the longest bridges (4.3 miles from end to end), Chesapeake Bay has over 100,000 streams and rivers that drain into it, so there are lots of affordable waterfront properties out there.

Boaters of all description will never tire of the coastlines. With an ecosystem of rivers, wetlands, and grasses that is nurtured to support nearly 7,000 different species of plants, fish, shellfish and animals and 29 species of waterfowl – Maryland is surely a child’s paradise. Who would ever want to go away for a vacation? Just give your kid a bucket and he or she will be busy all day collecting.

When the family is older, Maryland has an enviable choice of schools, with several religions represented including Seventh-day Adventist, Quaker, Jewish and Catholic, as well as many publicly funded charter schools.

Maryland is the proud owner of the third oldest college in the United States, St. John’s College founded in 1696. In 1876, this college also funded Baltimore’s world renowned John Hopkins University. There are 18 other private colleges and universities to choose from as well as state and federally funded institutions.

There is no shortage of sports to watch, either! In fact Maryland is host to two National Football League teams. The Annapolis Sports Facilities Guide lists 21 different sports that you can pursue.

For some reason sport brings hospitals to mind; Maryland has over 40 hospitals and health care facilities. In fact, with its wealth of historical and cultural background, Maryland is short on nothing. Except perhaps your family…?

Great Investment Opportunites in Maryland and Washington D.C

The foreclosure rate in Maryland presently is high; what does this mean? First, it is bad news to sellers who want to get rid of their properties fast. Second, it is the best news potential investors want to hear. This is really good news because people looking to make a new and lucrative investment have a good bargain. There are a few things we have to be aware of before rushing in for this pot of gold.

The Minimal Risk Factor

One of the biggest advantages of pre-foreclosure investments with Maryland investment property is that there is a greatly reduced risk factor. From the point of view of the seller, they want to get out of the house and be done with the bank as soon as possible. From the point of view of the bank, a house that is foreclosed doesn’t make them any money. In other words, both the bank and the seller will be willing to sell as quickly as possible. This will probably mean reduced prices as well as more flexible payment plans.

Some other factor to consider with Maryland investment property are any hidden or extra costs that come about when rehabbing the property. Because everyone involved would like to move the property as quickly as possible, your extra costs will also be greatly reduced. You can easily negotiate for a lower down-payment amount and you’ll find that other small fees can also be reduced or cut out completely. Bear in mind that foreclosures are also known as a Buyer’s Market. This is because the buyer not only has the upper hand; they also have the most to profit.

What Else?

If you’re looking at Maryland investment property for your own use, then foreclosures are a speedy option. Unlike other homes, where you will probably have to wait for the tenant to leave, these homes are either already vacant or the owners are about to vacate. This means that you can move in almost as soon as the deal is closed. You will however need to show proof that you are able to purchase the foreclosed property. If you are using your own cash, proper financial records are required. For example, your bank statement. If you are using financing, you will need to show that your loan is approved by your lender.

If you are a first time investor or are unsure about investing trends, putting your money into pre-foreclosures is not only lucrative, it is also a relatively safe investment option. If you are familiar with house renovation and redecorating, there’s nothing like foreclosure investment to make some quick and good money. All you have to do is get the foreclosed home at a bargain price, do the necessary renovations and repairs that add value to the property then put the house back on the market for a good profit. Many people have earned sizable capital by renovating their properties this way.

While you can handle your pre-foreclosure bids yourself, it might be a good idea to hire an agent to help you out. In that way, you’ll not only gain access to the best homes, you’ll also be in a better position to make a good bid and get the best bargain for your Maryland investment property.

Haunted Houses of Maryland

Rich with tales of civil war apparitions and ghosts of former hospital patients, Maryland is a state that has a colorful paranormal history. Today we’ll focus on just a few of the homes that have earned the ghastly reputation of being haunted -in case you’re in market for some haunted real estate of your own. The first stop on our tour is the Paint Branch Home in the city of Adelphi, which is currently being used as a retirement home. A former slave house, the spirits that haunt the estate don’t appear to be violent, but have been known to linger around bedrooms and fill the house with their singing. Songs of the dead can be bone chilling indeed! Next up is the abandoned mansion on Asylum Road in Catonsville. Whispers and loud noises can be heard from inside in the house, even though the property has been vacant for many years. Some have even claimed to see people walking around the yard, only to disappear into the ether a moment later. In Ellicott City, Oak Lawn is a stone house that dates back nearly two hundred years. Reports of paranormal activity include disembodied footsteps, flickering lights, and the smell of food cooking. Due to the ghost’s penchant for food, he became known as the Cooking Ghost, and has become a regular fixture on the property. Also in Ellicott is a home known as Lilburn. It’s reputed to be one of the most haunted places in the state of Maryland. There’s constant speculation as to who is actually haunting the home, as a number of people have died on the premises. Inexplicable noises, windows refusing to stay shut, and strong odors in empty rooms are just a few of the happenings reported by witnesses. One of the staff members in the house also claimed to have seen the ghostly figures of a man and a girl wandering around, as well as hearing a child’s cry coming from one of the rooms. In the unincorporated town of Urbana, Landon House has become particularly famous for its resident ghost dogs. In the early days of the house, a large number of dogs died in the basement area, leaving behind panicked scratch marks on the walls and unsettled spiritual energy. The dogs have been heard barking by a number of witnesses over the years, with no rational explanation. In addition to the dogs, the apparition of a friendly female spirit has been spotted on the estate, as well as the specter of a Civil War officer. In Perryman, the legend of the Perryman Mansion has grown over the years thanks to its remote location and imposing demeanor. It hasn’t been lived in for a number of years, and has fallen into an advanced state of disrepair. Common reports include mysterious voices, horrible stenches, and collections of animal bones both in and outside the house. Finally, visitors to Towson’s Hampton Mansion have heard glass and china breaking, as well as the crashing of chandeliers, where no objects could be found. A former butler has also been seen roaming around the house from time to time, apparently unaware that he’s long since been discharged from his position.

What Are Maryland MLS Listings and How They Can Help You

Multiple Listing Service, or MLS listings in Maryland, or in any other state, are a comprehensive set of information concerning all homes for sale listed thru an affiliate real estate brokerage. If you are trying to find real estate, then MLS real estate listings can make your search far more efficient. However, the full information of the MLS listings are not available to the general public – at least not without some professional assistance. Your licensed Maryland real estate agent has the access that you need to perform a very effective home search by MLS.Facts about MLS real estate listings:• MLS searches are completely customizable and can include various informational aspects including:• Searches by zip code;• Searches by a distance radius from a given location;• Searches by street names;• Searches by subdivisions;• and many more!MLS listings in Maryland are able to be further defined by the following parameters:• Searches within set price ranges;• MLS searches by number of bedrooms and/or bathrooms;• Searches by number of garages;• Searches based on pools and/or spa areas;• Styles of homes on MLS searches;• and many more!MLS real estate listings are shared between cooperative real estate professionals for the benefit of all involved – from the Real Estate companies, their agents, buyers and sellers alike. When you request that your real estate agent performs a MLS search for you, you will become privy to all information about the homes for sale that are presented for your consideration. The following characteristics of given homes are included in your customized MLS search results:• Home address;• Age of home;• Number of rooms, bathrooms and bedrooms;• Amenities;• Any upgrades or remodeling projects completed;• School district that the home is located in;• Types of financing that the seller will accept;• and much more!Many prospective home buyers erroneously assume that they can get the same information from online sources that licensed real estate professionals can. However, the information presented through these online feeds is most often very limited in scope, often outdated or filled with inaccuracies. If you are serious about maximizing the effectiveness of your home search by MLS, then you really need to get assistance from a professional.MLS listings in Maryland can help you to zoom in on single family homes, luxury homes, condos and other real estate options that are just what you are seeking. MLS real estate listings are the most efficient way to perform searches for your real estate investment opportunities. Why do it alone? Hire a professional to work in your best interest.

Top Retirement Cities For Seniors

If you fancy moving to a top-notch location to retire, this article is a must-read. In its recent report, Bizjournals.com identified the top cities across the U.S. favored by the senior residents. The website analyzed the cities that had the fastest growing senior populations and came up with the most popular retirement havens.
Bizjournals took into account cities that had experienced a rapid growth in the population of senior residents in the last 5 years. The study compared 938 markets in eight statistical categories to make the list of the top retirement communities of America which included beaches, mountains, small towns and big cities.
The top 10 hottest places to retire in according to Bizjournals are:
1. Gardnerville Ranchos, Nevada
2. Punta Gorda, Florida
3. Pahrump, Nevada
4. Crossville, Tennessee
5. Homosassa Springs, Florida
6. Sebring, Florida
7. Del Rio, Texas
8. Brevard, North Carolina
9. Georgetown, South Carolina
10. Ocean Pines, Maryland
The top city to retire in, Gardnerville Ranchos, Nevada, is surprisingly a small community located a few miles southeast of the beautiful Lake Tahoe. The community is famed for its natural beauty and is within 4-hour drive from San Francisco, San Jose and Sacramento areas. Gardnerville Ranchos saw an amazing population growth of 45 % in five years, between 2000 and 2005, among senior residents. This growth rate is nine times that of the country’s population growth rate of 5 % for senior citizens. The city has 19 % of residents who are in the age group of 65 and above, which is much higher than 900 of the 937 other markets that were reviewed in the country.
These top 10 cities to retire indicate that senior citizens prefer the Sunbelt; with all these areas located in the South and Southwest. Another interesting fact is that the retirement cities in the top 10 list range from small to medium sized with the largest being Punta Gorda, Florida having a population of 1,57,500 and the smallest, Brevard, North Carolina with just 29,600 residents.
Although the Sunbelt attracts the seniors from the Eastern and Midwestern with its warm weather and quality of life, other locations such as the Atlantic and Pacific coasts and the Great Lakes region are also gaining in popularity among the retirees.

Housing Prices In The Top 10 Richest Zip Codes In The United States

The big housing boom that the nation experienced over the last five years, especially from the third quarter of 2001 through the third quarter of 2006, has not only perked the overall housing prices in the country, but also created a significant rise in the prices of America’s richest Zip codes.
The Standard & Poor’s Case-Shiller Home Price Index registered a five year increase of 63.7 % in home prices, for the nation in totality, according to Fiserv Lending Solutions, that supplies data and software to lenders. Meanwhile, the Zip codes that had a median sales price of $750,000 and more, showed an increase of 79.5 %.
Let us take a look at the housing prices in the richest Zip codes of America and the changes that have happened over time. Given below are the top 10 richest Zip codes in the U.S. where median property prices rose to the greatest extent since 2001. The median property values featured in the top ten are listed from the 2nd quarter of 2006. The percentage of appreciation is based on a comparison of single-family home prices over the last 5 years – that is, between the 3rd quarter of 2001 and the 3rd quarter of 2006.
1. Greenwich, Connecticut: Zip code 06831, Median Price (2006:Q2): $2,983,000, five year appreciate rate: 49.3 percent. Bridgeport-Stamford-Norwalk metro area.
2. Newport Beach, California: Zip code 92661, Median Price: $2,500,000, five year appreciate rate: 132.2 percent. Santa Ana-Anaheim-Irvine metro area.
3. Paradise Valley, Arizona: Zip code 85253, Median Price: $1,850,000, five year appreciate rate: 100.4 percent. Phoenix-Mesa-Scottsdale metro area.
4. Avalon, New Jersey: Zip code 08202, Median Price: $1,687,500, five year appreciate rate: 125.7 percent. Ocean City metro area.
5. Cambridge, Massachusetts: Zip code 02138, Median Price: $1,395,500, five year appreciate rate: 22.4 percent. Cambridge-Newton-Framingham metro area.
6. Glen Head, New York: Zip code 11545, Median Price: $1,150,000, five year appreciate rate: 67.2 percent. Nassau-Suffolk metro area.
7. Islamorada, Florida: Zip code 33036: Median Price: $1,150,000, five year appreciate rate: 204.3 percent. Key West-Marathon metro area.
8. Chevy Chase, Maryland: Zip code 20815, Median Price: $1,043,000, five year appreciate rate: 94.8 percent. Bethesda-Gaithersburg-Frederick metro area.
9. Hinsdale, Illinois: Zip code 60521, Median Price: $950,000, five year appreciate rate: 48.4 percent. Chicago-Naperville-Joliet metro area.
10. Bellevue, Washington: Zip code 98004, Median Price: $950,000, five year appreciate rate: 83.9 percent. Seattle-Bellevue-Everett metro area.
Source: BusinessWeek Online, Peter Coy and Maya Roney (04/02/07)