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:
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:
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:
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.”
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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.
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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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