Carlyn Lowery, Associate Broker, Lowery Home Team at eXp Realty, Annapolis and Anne Arundel County MD Real Estate

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Free Money for Annapolis Non-Profits – Act Now – They're Giving it Away!

The end of the fiscal year often results in last-minute dashes, and I just learned about a great opportunity through a colleague in the Rotary Club of Annapolis. Commerce Bank is expanding to the Annapolis area, and as part of their commitment to actively supporting our community, they offer grants, sponsorships, and community development and service programs.
According to Commerce Bank’s Annapolis Manager and Assistant Vice President Jen Simon, the bank’s funds for this year are not fully allocated, and these programs are not yet well-known locally, so we have a great window of opportunity for funding projects that benefit local residents. As are result of Jen Simon’s recent efforts to get the word out, many of our local non-profits are now busy writing grant applications – which are due this week!
More information and an on-line application are available at http://www.commerceonline.com/communityrelations/overview.cfm
Let me know if you’d like more details, as I’ll be learning more over the next few days. We’re putting together an application for the Rotary Club of Annapolis, and I’d love to come up with a project to support affordable housing, a growing issue in Annapolis and Anne Arundel County, especially as federal backing for 100% financing is vanishing. And it would be a pleasure if this news is of benefit to you, or a non-profit that you support, so let me know!
P.S.  Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

Annapolis Real Estate Investors Change the Landscape

This classic rancher at 118 Academy Street in sought-after Murray Hill in downtown Annapolis was recently sold.   It was listed on January 5th at $899,000 and closed on July 24th for $775,000.  The house featured 4 bedrooms, 2.5 baths, and perhaps most important to the buyer, it was sited on three buildable lots.  (Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data)

Within a few days after settlement, demolition began.

And it wasn’t too long before everything was gone, except for a few trees (and the environmentalist in me is very happy that these were saved).

Odds are that we’ll soon have three houses, and that they’ll be on the market for a pretty penny.

This is one real estate investor who is playing to win.  I recently heard that eight times the number of people become millionaires in a down market as in an up market.  In the face of so much bad news about the economy, it’s great to see an entrepreneur in action, acting boldly, creating value.  It’s a great time to take calculated risks.

Yet I must say, I will miss the old house!

P.S.  Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

Intentional Investors Buying Maryland Real Estate

How’s the real estate market? Everyone is asking me these days. Recent headlines in The Capital, our local Annapolis newspaper, include:

  • County home sales drop 31 percent in July
  • Shaky economy hits schools, kids
  • Restaurants closing reflects disturbing trend (about the closing of our much–loved locally-owned Northwoods Restaurant)
  • State unemployment rate creeps upward
  • Rumor has it that some of the new upscale chain restaurants in Park Place near Murray Hill may be closing. What will happen with Morton’s and Fado? Today’s Wall Street Journal reports:

  • Financial Unease Trips Up Stocks
  • Housing Downturn Hits Home Depot
  • Fannie, Freddie Are Pounded
  • Things are looking pretty bleak, one might say. Of course, it all depends on your perspective.

    Here are some other facts from our local multiple listing service:

  • Of the 38 single-family homes sold in Annapolis in the last thirty days, the net price when sold averaged 87% of the original list price.
  • A lovely property is listed in Murray Hill now for over $100,000 below the last sale on the street in 2006.
  • For those who are intentional about building wealth through real estate investing, this market is outstanding. Remember “Buy Low, Sell High”? Now is the time to find motivated sellers and acquire properties at great prices with excellent financing.

    We are increasing our services to investors, so if you want to buy more rental property in Maryland, and you want to work with someone who understands your vision, let us know.

    We’re building a new web site at http://www.IntentionalInvestor.com

    Check it out and let us know your thoughts and suggestions.
    P.S.  Call me today for all your Annapolis real estate needs.
    Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

    Anne Arundel County Maryland Real Estate Market Statistics – August 2008

    The National Association of REALTORS® (NAR) reported a decrease in the rate of existing home sales through the month Surface of June, which fell 2.6 percent. NAR’s revised With home sales forecast now stands at 4.86 million units for 2008.

    Despite the decrease, REALTORS® are reporting activity in all regions across the country. NAR president Richard F. Gaylord explains, “Timing the market can be very tricky, which is why home buyers should always have a long-term view to build wealth.”

    Average (Mean) Sales Price of Existing Homes by Region

    Date

    U.S.

    Northeast

    Midwest

    South

    West

    2006

    268,200

    299,700

    205,300

    230,000

    371,300

    2007

    266,000

    307,100

    200,500

    225,600

    365,900

    01/08

    245,500

    298,400

    178,800

    206,500

    335,600

    02/08

    242,000

    292,700

    175,100

    204,600

    333,100

    03/08

    247,100

    310,800

    183,200

    209,600

    325,200

    04/08

    247,200

    294,400

    188,500

    212,900

    327,000

    05/08

    252,600

    309,100

    190,700

    219,000

    326,700

    06/08

    257,500

    292,600

    204,200

    229,900

    330,500

    Statistics from the National Association of REALTORS®

    To stimulate market activity, the Federal Housing Administration has increased loan limit guarantees for 2008. FHA programs are available with a modest 3 percent down payment, and allow borrowers more buying options when purchasing a home. The national median existing home price was reported at $215,100 in June, down from a year ago when the median price was $229,000 for all housing types.

    Anne Arundel County figures for July 2008 are shown below.

    2008 2007 % Change
    Total Sold Dollar Volume: $ 163,200,495 $ 247,874,259 – 34.16 %
    Average Sold Price: $ 397,081 $ 428,848 – 7.41 %
    Median Sold Price: $ 332,900 $ 362,403 – 8.14 %
    Total Units Sold: 411 578 – 28.89 %
    Average Days on Market: 121 92 31.52 %
    Average List Price for Solds: $ 437,012 $ 459,905 – 4.98 %
    Avg Sale Price as a percentage of Avg List Price: 90.86 % 93.25 %

    Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
    Copyright 2008 – Information deemed reliable, but is not guaranteed.

    P.S.  Call me today for all your Annapolis real estate needs.
    Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

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    Here are some client reviews of Carlyn Lowery…

    “Carlyn got us a quick sale above the asking price. She qualified prospects well, used a professional photographer for advertising photos, and provided expert advice during negotiations. Carlyn is what other Realtors aspire to be!”
    – Paul Donnelly

    “As first time home buyers, Carlyn Lowery was very attentive to our basic needs of walking us through each step of the home buying process from a novice standpoint. The long detailed list of items due at specific times from the start of the contract all the way through to the week of closing was greatly appreciated. It was great having an agent who took the time to clearly lay this all out for us. End result – a very smooth time at settlement. No surprises!”
    – Ann Hannam

    “We wanted a professional who would work with us to sell our home
    quickly for a good price and protect our interests as sellers through the process.
    Carlyn’s business acumen is her (and will be your) greatest asset.”
    – Sue Bogard

    “Carlyn was wonderful. She was organized, prepared, and knew the steps to take to sell our home quickly and used a wide array of marketing to get the job done. She gave great advice
    during each of the phases, and in particular on the negotiation.”
    – Michael Morgan

     

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