Four Seasons Estates

Gambrills Home Sales: It’s a Strong Market for Sellers

Gambrills Home Sales

Gambrills Home Sales

Sales Last Month Up 150 Percent Over March 2015; Median Price Up 36 Percent

Home sellers in Gambrills, Maryland, enjoyed a very strong month of buyer activity last month as the median price of a Gambrills home jumped 36 percent from March 2015.

Numbers compiled by RealEstate Business Intelligence (RBI) show that buyers of Gambrills homes gobbled up the properties 40 percent faster than in March 2015. The average time needed to sell a Gambrills home dropped from 134 days to 81 days, year over year.

The number of homes sold in Gambrills last month – 15 -- far outpaced sales in March 2015 (6), an increase of 150 percent. The rise was due to a strong jump in the number of detached homes that were sold (13). Four such homes sold in March 2015.

The median price of a Gambrills home last month rose to $570,000.

The robust home sales figures for Gambrills mirror those of other Fort Meade-area communities, including Odenton. The number of homes sold in Odenton in March (49) rose 53 percent over the same period last year, while the median price of a home sold in Odenton rose 7.6 percent (http://jerryklinerealtor.com/odenton-home-sales-explode-march/).

Jerry Kline is a Realtor with the Odenton, Maryland, office of Keller Williams Flagship of Maryland (1216 Annapolis Rd., Odenton, MD 21113.) For more information on the local real estate market, contact him at (443) 924-7418.

Odenton Home Sales Explode In March

Odenton Homes for sale

Odenton Homes for sale

Sales up 53 Percent, Median Sale Price Up 7.6 Percent Over the Same Period Last Year

Aggressive buyer appetite and a lack of residential properties for sale led Odenton home sales to spike strongly last month, according to year-over-year data released by RealEstate Business Intelligence (RBI).

The number of homes sold in Odenton in March (49) rose 53 percent over the same period last year, while the median price of a home sold in Odenton rose 7.6 percent. The average number of days it took to sell an Odenton home dropped 10 percent from March 2015, to 70 days.

RBI statistics show that the months of supply of housing available in Odenton remains critically low at 3.0 months. Months of supply is a good indicator of whether a real estate market is favoring buyers or sellers. Typically, a market with less than 6 months of supply favors sellers, while more than 6 months of supply indicates an excess of homes for sale, favoring buyers.

In Piney Orchard, a particularly popular community for local home buyers, the market for home sellers was even stronger. The months-of-supply figure for Piney Orchard in March was 2.1 months.

The boom in Odenton real estate was not confined to March, however. RBI year-to-date numbers show strong growth in the Odenton housing market since the beginning of the year.

In the Maple Ridge neighborhood, for instance, 13 homes sold in the first three months of 2016, compared to only two homes over the same period last year. That’s an increase of 550 percent. It’s not surprising, then, that the median Maple Ridge home price has jumped 23 percent since the beginning of the year.

The story is much the same in Piney Orchard. Year-to-date sales numbers for the community show an increase in sales of 55 percent over 2015, and the median price of a Piney Orchard home is up 4.2 percent so far this year.

Not every Odenton community has benefitted from the upswing, however. Year-to-date sales numbers for Seven Oaks, for example, show the number of homes sold there dropped 40 percent (from 30 homes to 18 homes) from the same period in 2015 -- although the median home price in that community did rise 2.3 percent). Given that the average number of days needed to sell a Seven Oaks home dropped 48 percent year over year, the drop-off in sales in Seven Oaks this year is probably explained by a lack of available inventory.

Home sales in other Odenton communities, including Chapel Grove, Four Seasons Estates, Kings Ransom and Eden Brook, remained largely flat compared to the same period in 2015. While sales in Lions Gate are up 66 percent so far in 2016, this increase is based on only five total sales this year (compared to three sales over the same period in 2015).

Jerry Kline is a Realtor with the Odenton, Maryland, office of Keller Williams Flagship of Maryland (1216 Annapolis Rd., Odenton, MD 21113.) For more information on the local real estate market, contact him at (443) 924-7418.

Odenton-Area Homes for Sale: 8 Homes with Inground Pools!

Odenton homes for sale

Odenton homes for sale

Be the King or Queen of Summertime With a Fabulous, Hot-Weather Oasis!

This week’s balmy weather already has locals thinking of hot summer days and cooling dips in whatever swimming hole they can find. Don’t settle for lawn sprinklers and squirt guns to cool off when you can own your very own inground pool!

Eight homes currently on the market in the greater Odenton area feature this sought-after luxury. Priced from $365,000 to $1.26 million, these eight properties represent fantastic deals: simply purchase the pool and the seller will include the home at no additional charge!

1423 Macedonia Drive, Hanover, MD

Homes for sale in Hanover

Homes for sale in Hanover

List Price: $365,900

Features: 4 BRs, 2.5 BAs, 1-Car Garage, Colonial

7907 Elberta Drive, Severn, MD

Homes for sale in Severn

Homes for sale in Severn

List Price: $399,900

Features: 4 BRs, 2.5 BAs, 2-Car Garage, Colonial

1011 Arundel Station Road, Millersville, MD

Homes for sale in Millersville

Homes for sale in Millersville

List Price: $425,000

Features: 4 BRs, 2 BAs, 2-Car Garage, Rancher

678 Stafford Hill Drive, Glen Burnie, MD

Homes for sale in Glen Burnie

Homes for sale in Glen Burnie

List Price: $439,999

Features: 5 BRs, 3 BAs, 2-Car Garage, Colonial

2461 Symphony Lane, Gambrills, MD

Homes for sale in Gambrills

Homes for sale in Gambrills

List Price: $539,900

Features: 5 BRs, 3.5 BAs, 2-Car Garage, Colonial

204 Jenny Gay Court, Severn, MD

Homes for sale in Severn

Homes for sale in Severn

List Price: $705,000

Features: 4 BRs, 5.5 BAs, 3-Car Garage, Colonial

915 Saint Michael Drive, Gambrills, MD

Homes for sale in Gambrills

Homes for sale in Gambrills

List Price: $759,900

Features: 4 BRs, 4.5 BAs, 2-Car Garage, Contemporary

1111 Abbington Lane, Crownsville, MD

Homes for sale in Crownsville

Homes for sale in Crownsville

List Price: $1.265 million

Features: 5 BRs, 4.5 BAs, 2-Car Garage, Colonial

For more information on these properties, give me a call!

Jerry Kline is a Realtor with the Odenton, Maryland, office of Keller Williams Flagship of Maryland (1216 Annapolis Rd., Odenton, MD 21113.) For more information on the local real estate market, contact him at (443) 924-7418.

November Housing Stats for Gambrills: Sales Steady, Prices Down

Gambrills 2

Year-over-year housing figures for Gambrills, Md., show that the number of homes sold in the area last month remained on par with the number of homes sold in November 2013. However, the median price of those homes dropped 18 percent from last year.

Moreover, the homes sold in Gambrills last month stayed on the market much longer than the year before.

According to data prepared by RealEstate Business Intelligence, the average price of detached single family homes sold in Gambrills in November dropped 16 percent from last year. The average price of attached homes, which include townhomes, condominiums and duplexes, dipped 29 percent.

The number of homes actively for sale in Gambrills in November (67) was roughly the same as the prior year (62). However, homes sold last month took 58 percent longer to sell than last year. The average “Days on Market” was 106 days in November 2014, up from 67 days in November 2013.

Overall, 14 homes sold in Gambrills in November 2014, compared to 13 over the same period last year. Ten of the homes sold last month were detached properties and four were attached homes.

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.

Ranch-Style Homes Are Once Again Popular: What Are Their Plusses and Minuses?

The ultimate irony for home buyers is that the stock of available ranch-style homes may eventually dwindle. Not only because more home buyers are seeing the advantages of these homes, but also because the wrecking ball continues to demolish some of the ranchers that have survived.  

Return of the Ranch

Class-Action Lawsuit Against Creig Northrop Real Estate Team Underscores Consumer Protections for Home Buyers, Home Sellers

Scales of Justice

A large class-action lawsuit recently certified against Maryland’s Creig Northrop Real Estate Team serves as an excellent reminder of the consumer protections afforded to home buyers and home sellers under the federal Real Estate Settlement Procedures Act (RESPA).

RESPA, enacted by Congress in 1974, is designed to protect consumers from unscrupulous practices in the real estate industry. Its chief purpose is to help consumers become better shoppers for real estate settlement services and to eliminate kickbacks and referral fees that unnecessarily increase the costs of closing a transaction.

Among other things, the act prohibits kickbacks between lenders and third-party settlement agents in the settlement process.

The lawsuit, filed in 2013, alleges that The Creig Northrop Team P.C. and others received more than $500,000 in illegal kickbacks from Lakeview Title Co. Inc. over a period of years. The class certified by the court in January includes all purchasers who engaged the services of The Creig Northrop Team and a defendant title insurance company from Jan. 1, 2008, until the present.

The number of home buyers and home sellers included in the class of plaintiffs is potentially huge. The Creig Northrop Team P.C. is affiliated with Long & Foster Real Estate Inc., and was ranked second in the country last year and first in 2012 in the amount of real estate transaction volume handled.

Under RESPA, service providers in a real estate transaction must provide a variety of disclosures to their clients. (See http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/rmra/res/respamor#HD) Certain disclosures must be made at the time of loan application, before settlement occurs, at settlement and after settlement.

Also important for home buyers and home sellers is the Affiliated Business Arrangement Disclosure. This disclosure is required whenever a settlement service provider involved in a RESPA-covered transaction refers the client to a provider with whom the referring party has an ownership or other beneficial interest.

The referring party must give this disclosure to the client at or prior to the time of referral. The disclosure must describe the business arrangement that exists between the two providers and give the borrower an estimate of the second provider's charges.

Except in cases where a lender refers a borrower to an attorney, credit reporting agency or real estate appraiser to represent the lender's interest in the transaction, the referring party may not require the consumer to use the particular provider being referred.

For more information on the case (Patrick Baehr et al. v. The Creig Northrop Team P.C. et al.)), see http://www.inman.com/2014/02/25/top-producing-long-foster-team-facing-class-action-respa-suit-over-alleged-kickbacks-to-title-insurance-agency/

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.

New Disabled Veterans Mortgage Program Offers Big Help to Maryland Vets

AAA -Disabled Veterans

Applicants Need to Hurry, Though – Program Ends May 30th

Do you know a disabled military veteran looking to buy a home in this area? The state of Maryland last week announced the creation of a new – and temporary – initiative designed to help such buyers purchase a home using bargain interest rates. Even better, the new mortgage assistance program can be used in conjunction with other state programs that offer down payment and closing cost assistance to veterans. Interest rates for the Maryland Homefront Disabled Veterans Mortgage Program are as low as 3 percent. Up to $5,000 in down payment and closing cost assistance also is available to qualified applicants. Interested homebuyers have to hurry, though. According to information distributed by the Maryland Department of Housing and Community Development, the program is set to expire in two months – May 30, 2014. Program Eligibility The program is open to honorably discharged disabled veterans. By program definition, a disabled veteran is a veteran with a 30 percent or greater disability. Eligible veterans also must qualify for a Maryland Mortgage Program loan, based on such criteria as credit score, income limitations, etc. Before buying their home, eligible veterans must take approved homebuyer education courses and use an approved mortgage lender. Loans under the program typically are limited to first-time homebuyers. However, this requirement can be waived under certain circumstances. Qualification for a Veterans Administration loan is not required. Under the program, the property purchased must be located in the state of Maryland. Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.

Chapelgate Violence, Traffic & Drugs Fuel Security Efforts

Below is a link to an interesting article in the West County Gazette. In September a 19-month-old child sustained minor injuries in Chapelgate when a still-unidentified suspect sent several shotgun blasts through the family’s living room window. In December, Sharron Charles Mason, 19, was shot to death in the duplex he shared with his grandparents. No arrests have been made in either case.

Chapelgate violence, traffic and drugs fuel Piney Orchard security efforts - : Crofton - West County

Congratulations Matt & Alison on the Purchase of Your New Home!

Jerry Kline, Realtor with Keller Williams Flagship of Maryland, celebrates with Matt & Alison Pavan on the purchase of their new home in Gambrills, Md.

Congratulations Matt & Alison Pavan on the purchase of your new home! The first-time homebuyers settled last Friday on their perfect rancher in the Four Seasons section of Gambrills, MD. Thanks for being such great clients and for choosing me for your real estate needs!

Congratulations Roy & Ellen on the Purchase of Your New Home!

Roy Rich Family 1

Roy and Ellen Rich recently completed the purchase of their new single family home in Gambrills, with Jerry Kline of Keller Williams Flagship Realty serving as their Buyer's Agent.

Roy and Ellen looked at many homes around Anne Arundel County before making their final selection. Most important to them during their search was finding a home served by a quality elementary school for their children.

What did the Riches like best about working with Jerry?

"Your patience and willingness to do everything and anything to make the process easier," Ellen said. "You did everything -- nothing more could have made it better."

If you or someone you know has interest in buying or selling a home, call Jerry Kline direct at (443) 924-7418. Jerry's happy to help!