Southern Maryland Real Estate Blog

Open Seats at Schools Mean More New Homes

Earlier this month, Charles County commissioners made some changes to now require seats (or spots for students) be open at all schools and at all levels (elementary, middle, and secondary) before more new homes are allowed to be built.

According to the Independent, this 'one seat, one residence' rule has allowed between 138 and 144 new homes to be built over the past year and a half (see School allocations granted).  As you can see, the rule is trying to help avoid the ever present problem of school overcrowding without completely stunting residential growth to the county.

However, the allocations are not evenly spread through the county.  In each school zone, school's maximum capacity, school enrollment numbers, and the estimated number of students per household determine the number of allocations for that area.

If you are looking to buy new construction or have a custom home built on your lot and have questions about school zoning issues, feel free to contact me today!

Jonathan Benya

Realtor

Century 21 New Millennium

9405-A Chesapeake Street      301-609-9000 Office

La Plata, Maryland 20646        301-653-8116 Mobile                                      

              

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Annual "Begathon" for School Construction Dollars Looks Promising for Charles County

This past Wednesday, Charles County representatives went before the Board of Public Works to state their case for more money to improve existing and future schools in the system.  The main topic of discussion was their request to increase the capacity of a planned new high school from 1,300 students to 1,600 students (see Charles officials plead case for bigger new high school).  

The planned new high school will be built on Piney Church Road, near the recently built Regency Furniture Stadium, home of the Southern Maryland Blue Crabs.  Not your typical high school, this school will feature a planetarium and digital classroom.  These amenities are part of Charles County's STEM (Science, Technology, Engineering, Math) initiative and its career readiness programs.

Not only are county schools bursting at the seams already, but the planned 12,000 'green' home community I previously discussed here would add even more students to a strained system.  With the addition of these students, and the possible bigger capacity of the new high school, district boundaries will have to be redone. 

If you are searching for a home with a specific school district in mind, contact me to discuss your community options!  I'll be keeping an eye on the developments with the new high school up to its projected open date of 2013.

Jonathan Benya

Realtor

Century 21 New Millennium

9405-A Chesapeake Street      301-609-9000 Office

La Plata, Maryland 20646        301-653-8116 Mobile                                      

              

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New Home Sales in Maryland Now Contingent on Financing

If you are in the market to buy new construction in Maryland, there is a state law change that you should know about.  An October 2009 modification to a Maryland statute changes financing contingency clauses in new home sales contracts.  

Protecting the Builder and the Buyer

Basically, a contract for a new home will be contingent upon the purchaser obtaining written confirmation of financing for the purchase.  Also, the contract must state the maximum loan interest rate that the purchaser is obligated to accept to honor the sale contract.

While the new modifications relate to financing contingency clauses, you can contain a provision in the contract expressly stating that it is not contingent on financing.  The potential problem is that the statute does not require this statement to be conspicuous or on a separate addendum. 

Protect Your Interests With a Realtor

This is where having your own Realtor to watch for your interests is good insurance.  A Realtor will know to search the contract for any 'hidden' statements that could shift the contract in favor of the builder instead of you, the buyer.  The LAST thing you want to happen is to go into a contract to purchase a new home, be unable to get financing, and still be held to honor the sales contract!

If you are interested in having a new home built, contact me today!  Great deals can be had in the area with new home builders, and great options also exist for custom building your dream home on 1+ acre lots!

Jonathan Benya

Realtor

Century 21 New Millennium

9405-A Chesapeake Street      301-609-9000 Office

La Plata, Maryland 20646        301-653-8116 Mobile                                      

              

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Protecting the Environment and Home Buyers

Looking for a home in a nicely wooded and secluded area?  The following statute revision may apply to your future purchase. 

A revision to the Maryland Conservation Easements Disclosure now gives greater protection to buyers.  Effective since October 2009, the revisions are most relevant to people interested in building custom homes or buying resale homes in rural areas.

The statute revisions of concern are these:

• If the buyer receives the conservation easement disclosures prior to entering into a sales contract with the seller, then the buyer cannot cite the easement as reason for pulling out of the contract.
• If, however, the buyer does not receive the conservation easement disclosures prior to entering into a sales contract with the seller, then the buyer has 5 days upon receipt of the documents to pull out of the contract.  If the documents are not produced, then the buyer has 5 days to pull out of the contract from the date of contract.

This mainly becomes an issue if you plan to buy a lot of land and want to clear it, or you plan on having a custom home built on a wooded or partially cleared lot.  If the lot you own is part of a conservatorship, you may be limited to how much of the land you can clear (if any at all) and if you would be allowed to build a home on it.

If you have any questions about how conservation easements may apply in your home search or land you own, contact me today!  My team works with builders and land owners on a daily business, so we understand conservation limitations!

Jonathan Benya

Realtor

Century 21 New Millennium

9405-A Chesapeake Street      301-609-9000 Office

La Plata, Maryland 20646        301-653-8116 Mobile                                      

              

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Low Appraisals Mean Even Lower Hopes for Sellers

With the influx of foreclosed and distressed properties crowding the market, it's no wonder that sellers are up in arms about their home's appraisal coming in thousands of dollars short of the listed price of the home.  In their eyes, and the eyes of many Realtors, it is simply not fair to compare a standard home that's not a short sale or foreclosure to those that are. 

Both the National Association of Realtors (NAR) and the National Associtation of Home Builders (NAHB) report substantial numbers of sales being thwarted by lower than expected appraisals. 

Overall, you must remember that an appraisal is basically one person's interpretation or opinion on what your home is worth.  The appraisals are (sometimes arguably) done by experienced professionals who base their opinions upon the current local market for similar homes.  When that pool of properties (referred to as comps or comparables) includes mostly foreclosed or distressed homes, it can be tricky to assess a home's true value.  Sure, your home may be worth $400,000 based on what you paid and the upgrades you did, but when the same house with the same upgrades sells for $329,000 down the street as a foreclosure, buyers are less likely to shell out the extra money for yours.

Back to Market Basics

It's all a long, drawn out way of saying. "it's elementary, my dear Watson."  When two retailers have the same item you want, you buy the item at whichever retailer is selling it cheaper.  Appraisers are simply doing their best in a market they've never seen before. 

If you are looking to sell and you have questions or concerns about what the true market value of your home is in the current market, contact me today!   

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 - office
301-653-8116 - cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

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Environmentalists Rejoice! Charles County Going Green?

Southern Maryland, (and more specifically, Waldorf) developer American Community Properties Trust (ACPT) recently announced plans for a community of green, energy-saving homes right here in St. Charles.  Their vision entails a 12,000 home community, complete with offices, stores, and industrial parks.  ACPT is also banking on plans for a large solar energy facility and natural gas plant coming to fruition in the same area.

The reported energy-saving features of the homes in the planned community include:

• Low flush, low flow toilets and showers
• Better-than-normal insulation
• Recycled carpets
• Energy Star appliances
• Energy-saving windows
• Smart thermostats

What ACPT doesn't mention is that SMECO already has a smart thermostat program!  It is FREE to enroll in, and the Energy Star certified CoolSentry digital thermostat included in the program is also FREE!  With the ability to program the unit for weekdays and weekends, you'll save on your heating and cooling bills the instant it is installed! 

The catch to the program is that it allows SMECO to decrease your heating or cooling usage during high peak periods to ease strain on the system.  But no worries!  The temperature will only change a degree or two, so your home will stay safe and cozy for your furry and feathered friends!  You'll also be helping to lessen the strain on the environment, as well as your wallet!  Right now SMECO is also offering annual credits for customers who enroll in this program!

For more information on how you can create a more energy-efficient home, or to custom build an energy-saving home, contact me today!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 - office
301-653-8116 - cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

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Custom New Consruction doesn't have to be expensive!

Wanted:

Home buyer searching for a great deal a new custom home on over an acre of land!

Low Prices and interest rates make this a perfect time to build your dream home!
For many people, the idea of having their own custom home built sounds like a dream.
Fact is, having a home custom built has never been more affordable!  There’s 3 reasons why RIGHT NOW is the time to look at making your dream come true:

1.    Prices are low
2.    Interest Rates are low
3.    Tax Credits can put money in your pocket!

 Land Prices have become affordable again,  and having a custom home built for as little as $300,000 is actually possible!  What does that price get you in today’s market?  Well, for starters, you can find   ready to build homesites ranging from 1-3 acres depending on your needs, and have your own custom built rambler built with 1,650+ square feet, 3 bedrooms, 2.5 baths, and a gourmet kitchen!

The Best Part about building a custom home is that you aren’t limited to the 3-4 home plans that most builders offer.  Custom home builders can create anything you want, and work with you to give your home that extra personal touch!

If you’re interested in the idea of building that “20 year home” you’ve always dreamed about, now may be the time to do it!  For more information about custom home construction, feel free to give me a ring, or visit the website  www.somdland.com to find out more!

(Model Shown is the Stafford Model by Potomac Homes)

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 - office
301-653-8116 - cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

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New Website Launch: www.SOMDLand.com!

 If you're looking to buy land in Southern Maryland, you might just want to check out SOMDLand.com.  The website has just launched, and it's designed to help people find both raw land and ready-to-build lots in Southern Maryland.

One of the nice features is the interactive google map search for lots and parcels available in Southern Maryland.  The site is also designed to help people understand how to go about building a custom home in Southern Maryland/Charles County region, and all of the resources to do so will be available there!  Check it out and let me know what you think!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Charles County Real Estate Blog- Market News and Real Estate info, specifically for Southern Maryland!

GetEmSold.com- Sell your home or find your next home here!

SOMDLand.com- Southern Maryland's Source for land and custom homes!

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Patience Pays Off... Affordable New Townhouses in Waldorf, MD!

    Patience pays off!  I have a client and very dear personal friend that I have been working with for roughly 2 years to help her buy her first home in Waldorf, MD.  Other agents have been ribbing me for  awhile now about not convincing her to write a contract on the 78 or so real estate properties that we had seen.  To them, this was about more than just her finding the perfect home, my reputation as a Realtor seemed to be at stake here!

Fortunately, I took it all in good stride.  I hate having people force decisions down my throat, and I don't ever want to be "That Realtor Guy" who pushed someone into buying a home they didn't love; especially when that someone is a friend of 14+ years!

With the current economic downturn and low interest rates guiding us, we finally found a fantastic option!  We had been looking at every foreclosure and short sale imaginable, but in the end we actually decided on new construction!

This is her first home, and she's excited that the idea of being a homeowner will soon be a reality!  I'm excited that she's decided to purchase without being pressured into something she doesn't love, and here's the best part!

Guess how much her townhouse is going to cost:

1. $275,000?
2. $260,000?
3. $250,000?
4. $240,000?

Would you believe me if I said that it was less?

I can't disclose how much our contract for these new construction townhouses is for due to client confidentiality, but here's what I can tell you:

For a 3 bedroom, 2 bath, 3 story Townhouse with brick front and a 1 car garage, prices are starting at $230,000!!!  for that price we've been looking at foreclosures in need of serious repair!  Less than $250k can get you brand new construction in Waldorf, complete with your own garage!

I know I've got other clients who are now looking at buying a new townhouse rather than struggle with foreclosures that "need work" ("needs work" is a polite way for Realtors to say "prepare to hire a general contractor"!)

If you're looking for new construction in the Waldorf or Charles County are, give me a call and I can help you find and negotiate great deals on your new home!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Charles County Real Estate Blog

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Lennar Homes in Charles County- Fairway Village New Construction

Lennar Homes is responsible for several new construction developments in Charles County, and could be considered one of the regions largest builders.  Among their projects is the 55+ community known as the Heritage at St. Charles, and the Fairway Village Subdivision.

The Fairway Village Subdivision is really quite impressive.  The townhomes are in the $200k-$300k price range, and their single family homes are in the $300k+ range.  One of the things that I like about the subdivision is the fact that they are building more than just homes, they're building a community.

Community Features

In addition to the walking and jogging trails, they're building playgrounds, a community center (complete with pool and clubhouse), and they're working to make the area an attractive place to live.

Their floor plans are also interesting, and in addition to having models ranging from 1633 s.f. to 2800+ s.f., they are giving home buyers a wide range of options to choose from.

If you're looking to buy a new home in Charles County, I highly recommend you check them out.  Also, if you're looking for an agent with experience negotiating low prices on great homes, give me a call!

Related Links

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 -office
301-653-8116 -cell
Charles County Real Estate Blog

Related Links:

Fairway Village (Lennar) Photos

Autumn Hills Subdivision by Ryan Homes
Are New Construction Prices Negotiable?
How Much Are New Home Prices Falling?
Adventures in New Home Buying

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