Southern Maryland Real Estate Blog

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!

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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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How Much Are New Home Prices in Waldorf, MD Falling?

    Anyone that's looking to buy or sell a home in Waldorf or Charles County, MD needs to pay close attention to the current market trends.  Yes, we're in a buyers market, and the media keeps talking about the gigantic drop that we have seen in home prices.  In Charles County, overall sales prices have fallen an average of 18% over the last year.

Price Drops!

    So where does this leave new homes?  Well naturally new home prices have been falling as well, and it's interesting to note that last week prices on new construction built by Ryan Homes in Waldorf, MD fell $20,000!  Prices have been dropping consistently over the last year, but a one time drop of roughly 6% is significant.

    Ryan Homes is selling in single family homes in several subdivisions in Waldorf, including Brentwood, Autumn Hills, and Eagles Ridge.  Two weeks ago the starting price in Brentwood was $330k, now that number is starting at $310k.  For Autumn Hills, that number has dropped from $350k to $330k.

Low Prices Motivate Buyers

    What strikes me about these communities is their popularity.  Right now I'm exclusively representing two different buyers who have contracts with Ryan Homes.  In both cases we looked at all the builders in the area, compared what each had to offer, and decided that Ryan Homes had the best "bang for the buck", so to speak.

    If you're interested in comparing new homes in Charles County and want to make sure that you are getting the best deal possible, give me a call at 301-653-8116 and I'll be more than happy to share with you the line by line comparisons for local new construction that fits your price range.  We're experts at negotiating with builders and developers to get our clients the best deal possible!

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

http://www.teambenya.com

Are Granite Countertops Killing You?!?

    Yes, I know that they're expensive, but killing your wallet is one thing.  I'm talking about your health on this one! The NY Times posted an article today about granite countertops.  In an era where everything we do and eat is potentially hazardous to our health, what's one more household risk, right?

    You see, Granite emits VERY MINOR levels of radiation.  In a few rare cases granite emits higher than average levels, and the EPA is apparently seeing a rise in calls from home inspectors regarding the safety of our beloved counter finishes.

“It’s not that all granite is dangerous,” said Stanley Liebert, the quality assurance director at CMT Laboratories in Clifton Park, N.Y., who took radiation measurements at Dr. Sugarman’s house. “But I’ve seen a few that might heat up your Cheerios a little.”

    Perhaps it could be marketed as a selling feature(You'll never need to use the stove!), but realistically the odds of your own counters being risky is remote.  If you're concerned about it, your best bet is to get a radon inspector out to your home to test your homes' radiation levels.  It should probably run you about $100-$300 dollars, and you'll know for sure if there's a problem.

    It begs the question:  "How long will it take to cook an egg on a counter like this?"

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St.
La Plata, MD 20646
301-653-8116
301-609-9000
http://www.teambenya.com

Rosewick Road Project Blows It's Budget Again

    When Charles County started the Rosewick Road project, the budget for Phase 2 was supposed to total $5.7 million dollars.  Add an extra $432,000 to that, and don't forget that the project was due for completion in April of LAST YEAR.  They are estimating that April of 2009 will be the targeted completion date with the unanticipated cost overruns.

    The County is pouring TONS of cash into this project, essentially robbing Peter to pay Paul ($282K came from the upcoming Phase 3 Budget, and 150K came from the Western Parkway Upgrade budget, Sorry Guys!)  Don't forget that Capital Services is anticipating further cash injections in order to get the work done, while the Commissioners are "hoping" that Phase 3 comes in under budget.

    In all honesty, if Phase 2 has been such a financial mess, what leads people to believe that Phase 3 will be any better?  The Phase 3 budget is currently $5.9 Million (Minus that pesky $282k, naturally), and construction costs are rising with inflation.  Anyone else see a problem here?

    I agree that the Roadway needs to be improved, but how much of this is for the County's current benefit, and how much of this work is being done for the benefit of upcoming developers' projects?

Another One Bites the Dust: Caruso Homes Files for Bankruptcy

    As you may already know, KB Homes has pulled out of the region, Shuttering the Middletown Woods sub-division and putting the land they hold up for sale.  It was a blow to local builder confidence, and now it looks like there's more evidence of how much some builders are struggling in this tough market:  Caruso Homes has filed for Bankruptcy.

    Supposedly they are doing this to re-structure rather than close-up shop.  If it's a way for them to bring down their prices, great.  Take a look at their current prices, and you'll notice that they're flat out too high.  Filing bankruptcy sheds light on an interesting phenomenon:  Builders profits have been cut to the core.  Bankruptcy means that Caruso cannot slash their prices any further at this point without drastic measures.

    Will this allow Caruso Homes to drop their prices further?  Definitely!  At the same time, I'm sure it's going to upset the folks they owe money to. ($500,000 from 84 Lumber alone!).  As soon as Caruso announces their price reductions, I'll let you guys know.  Stay tuned for more on that!

Related Links:

KB Homes Pulls Out of Charles County

Adventures in New Home Buying

Are New Construction Price Negotiable?

New Homes in Waldorf, MD: Autumn Hills Subdivision

"Finding it All" When Buying a Home

 

~Jonathan Benya

Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com

Rosewick Crossing is growing in La Plata, MD

    It's amazing how much commercial growth is happening in La Plata, MD, and Charles County in general.  Rosewick Crossing is the latest addition to La Plata's shopping choices.  As you may or may not know, Lowe's hardware store has already opened, and construction on the Giant grocery store is wrapping up as I speak type.

    What I didn't realize about the shopping center is that there seems to be a ton of space for smaller retailers in addition to the anchor stores that are already in.  I like the convenience that all of this new development creates, but in a way I sort of miss the "old" La Plata.  (You know, pre-tornado times?)

    It's all part of a larger plan that includes the addition of roughly 3,000 new homes along Rosewick Rd, so I imagine that there's not going to be any shortage of shoppers for the new complex once that development gets off the ground.

Related Links:

Photos of La Plata, MD Town Hall, Etc.

Commercial Development and La Plata, MD Real Estate Values

Photos:

~Jonathan Benya

 

Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com

New Home Construction in Waldorf, MD Autumn Hills Subdivision

     Waldorf, MD has a lot of new home construction developments, and one of them is the Autumn Hills Subdivision, located off of Smallwood Drive, just a stone's throw from the St. Charles Towne Center Mall.

     There are two different builders in that community:  Ryan Homes, who has subdivisions and developments all over the Southern Maryland region, and Craftmark Homes.

     The Ryan Homes there are starting at $340k, and the Craftmark Homes are starting at $550k.  What's nice about this community (aside from the proximity to the mall and shopping) is that all of the homes here are brick or stone front. 

     Some of the lots are a little tight, but the homes are gorgeous!  I currently have had a home listed in this subdivision, and the property was stunning!  Between the hardwood floors, Granite counters, Sun-room, Finished Basement and Finished Attic, there's almost 7,000 square feet of living space!  It's an excellent example of just how big the high-end Craftmark homes are.

      Craftmark is building bigger than Ryan is (hence the higher price tags), but either builder is providing great looking homes in a great location!

     If you're interested in possibly buying here, or in any other subdivision, our new construction experts can help you to negotiate a great deal AND protect your interests when purchasing a new home!  Give us a call or email to get the low-down on New Construction in Charles County, P.G. County, or St. Mary's County!

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com

Adventures in New Home Buying

    I got a call this week from a woman who had read my blog post "Are New Construction Prices Negotiable?", and she was curious about how to deal with builders in Prince George's County who seem to be playing some sort of "Shell Game" when it comes to dropping the price, charging more for upgrades, and generally causing confusion in regards to how much the bottom line is really going to be.

    I'm a firm believer that builders do this intentionally.  They're struggling for profits, and in the housing pinch they're forced to drop the prices to get you as a buyer in their door.  Once you're at their model, you're on their turf, and their job is to do everything they can to jack the final price of the home up.

    It's then taken a step further when each model representative makes it a point to brag about how energy efficient they are, or how stainless and granite is standard, blah blah blah.....

    I made a suggestion to this buyer that there may be another option to explore that might make a bit more sense if flexibility is an option.  New construction typically takes 4-6 months to complete, and in communities that have been builder for more than a year, it's highly possible that you may be able to find a short sale in the community that could be purchased for considerably less that you could have the home built for

    It allows you to negotiate the price of the house completely, not be beaten up by the builder over the cost of each individual upgrade.  It also places you in a great bargaining position with both the homeowner and the bank that's holding the note:  You're able to purchase the property for less that it was bought new, and the bank gets to avoid another foreclosure dragging on their profit margins.

    It may not be a perfect solution for everyone, but for true bargain hunters looking for a sensible, affordable alternative, this is a great option.

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