Charles County Realty » MD

Waldorf Developer Sold to Private Equity Firm

Admin — Thu, 14 Jan 2010 20:21:05 +0000

News was recently announced that Washington D.C.’s Federal Capital Partners Completed the purchase of American Community Properties Trust (ACPT) for $43.6 Million Dollars. This is big news for the Waldorf real estate market, as ACPT is a big developer here in Southern Maryland

Who is ACPT?

In short ACPT is the developer responsible for developing the Saint Charles Region of Waldorf. They own a ton of land in the region, and have been involved in the area for decades. They developed multiple neighborhoods and shopping districts, including the mall, subdivisions such as Carrington, Hampshire, Dorchester, Lancaster, Wakefield, Bannister, Fairway Village, and even the land that the Blue Crabs Stadium now rests on was part of ACPT’s development holdings.

Why Does This Matter?

ACPT has been building in Charles County since 1968, and in that time, they’ve built over 12,000 residences and more than 230,000 square feet of commercial space. They still own more than 4,000 acres of undeveloped land and have county approval to build an additional 11,000 dwellings and 5 million square feet of commercial space. Needless to say, ACPT is the biggest developer operating in Charles County, and has been for some time. The new owners say they do not plan any major changes, but this deal turns ACPT into a private company, one that does not need to answer to shareholders. It allows them greater freedom to operate with less people to question their decisions.

Is This Good For Charles County?

Only time will tell how this is going to impact local residents. Without shareholders restricting company actions, ACPT may find itself able to operate more efficently, lower costs, and improve the quality of the county through it’s future growth.

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

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Charles County, MD Property Tax Assessments Fall 28.2%

Admin — Wed, 06 Jan 2010 18:50:38 +0000

If you live in Waldorf or St. Charles, odds are good that you should have just gotten some good news in the mail! New tax assessments were just released for roughly one-third of the county, mostly in Waldorf and Saint Charles, and over 99% of those assessments FELL from the previous years!

What Is a Property Tax Assessment?

In short, a tax assessment is the approximate value of your home, according to the government, used for taxation purposes. It is NOT an appraisal, nor is it an estimate of the sales value of your home. Homes are assessed every three years by the government, and then annual adjustments are made based on average value changes each year.

How it Works:

When you look at your property tax bill, the amount of tax you pay is based off of this assessed value. For homes that were just re-assessed, the last assessment was in 2006, so almost all of these homes have been taxed at an assessed value that was higher than the home was actually worth. In Charles County, just over 18,000 homes were re-assessed, and all but 6 of them had a decrease in value!

The county tax rate for residential property is $1.026 per $100 of assessed value. This means that for a home valued at $300,000, the tax bill should be $3,780. The average value drop on this round of assessments for Charles County was 28.2%. That means that if a home was previously assessed at $300,000, the new assessment would, on average, place it near a value of $215,400. The tax bill would then drop from $3,780 to $2,714, a savings of $1,066 on the annual tax bill!

Not All Good News

While the benefit of saving $1,000 or more on your tax bill is obvious, this isn’t exactly a rosy picture for residents. You see, all that money collected from property taxes is used by the government to keep the state running. In total, Maryland is losing $1.7 billion dollars in tax revenues from this current re-assessment, and we as residents are going to feel it as everything from school budgets to local outreach programs are scaled back or eliminated to cope with the loss of revenue.

Keep your eyes out for a post later this week about the Homestead Tax Credit, which allows owners to cap the annual value increase on their tax assessments at a maximum of 7%!

Link: Maryland Independent Article: Property Assessments Plummet

~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
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ICE! at the Gaylord National Harbor is Super Cool!

Admin — Sun, 13 Dec 2009 13:02:58 +0000

Have you been to the Gaylord National Harbor Recently?

The Gaylord hotel at the National Harbor in Fort Washington, MD has gone all out for the holiday season!

What Is ICE?

As part of the festivities, 40 Chinese artisans were brought in to hand carve thousands of blocks of ice, turning a 15,000 square foot tent into a winter wonderland!

(View Photos from ICE! here)

It’s Cold in There!

The tent is kept at a constant 9 degrees, and heavy winter coats are handed out to visitors in order to keep warm while visiting the indoor ice palace.

How Much is Admission?

Monday-Thursday before 4 p.m., adults $19.99, after 4 p.m. and Friday-Sunday all day, adults $24.50. Seniors $18; kids ages 4-12 $13; kids younger than 4 free. The sculptures will be on display until January 10th, so don’t miss out!

Don’t forget that through Jan. 3, the Gaylord atrium has a 60-foot glass Christmas tree is lighted every night at 6. (Friday’s lighting will also include fireworks in the harbor!.)

Ice skating is also offered through Jan. 10 for $8 at a rink next to the ice tent.

~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
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Unbelieveable Price for a HUGE Home in Indian Head, MD!

Admin — Sat, 12 Dec 2009 16:07:33 +0000

For all of you deal hunters out there, this is a can’t miss property that won’t last long! It’s a 5 bed, 3.5 bath single family home in Indian Head, MD, located on 9 Riverwatch Ln for only $218,207!!! In addition to being a huge home, it also has a full, unfinished basement, brick front, and a two car garage. The owner of the property just dropped the price by $50,000, so it’s not going to last long!

Give me a call to set up your appointment, and feel free to look over the property details below!

Link: Listing on Realtor.com

~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
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Charles County Unemployment is less than 6%!!!!

Admin — Tue, 03 Nov 2009 21:19:48 +0000

So when is the economy going to recover? According to the Washington Post, it looks like it may already be happening here in Charles County! In an article written this weekend in the Washington Post (Economic Rebound Seen for Charles County), Signs are good that the evidence of an improving economy is being seen already in our neck of the woods!

According to the article, the U.S.
unemployment rate is 9.8 percent; Maryland’s is 7.2 percent; and Charles’s
is 5.9 percent!!! In addition to this news, rising homes sales, and a continuing influx of new jobs, Charles County is becoming a much more popular place to be! Also, if you’re thinking of buying or selling a home in the area, I know a FANTASTIC Realtor, LOL!!!

~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
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Southern Maryland Custom Homes & Land

The Real Estate Market in Waldorf, Maryland is turning around!

Admin — Mon, 31 Aug 2009 16:15:44 +0000

Is the Real Estate Market in Charles County and Waldorf finally turning around?

It’s been a long time since we saw good news in the real estate market. In the last few years we’ve seen that home values have dropped, sales slowed to a near standstill, and foreclosure rates skyrocketed. The good news is that national sales trends have picked up recently, and it looks like we may have finally hit the bottom of the real estate market downturn. According to a report released on August 26th, 2009, new home sales are up 9.6% in July, and up 30% from the beginning of the year. All of that is fine and well, but what about the local market?

The best way to look at sales trends is at the local level! If we take a look at current sales in Carrington, we can see that as of August 26th, there are 60 homes currently for sale. of those 60, 21 are under contract!! The national average for inventory volume is between 5-6 months, but the inventory volume for Carrington is just under 3 months! This is excellent news for homeowners in the neighborhood!

It’s great to see sales up, but what about prices? Unfortunately, you’re not going to find that prices have risen back to the levels we saw 5 years ago. Listing prices for homes that are UNDER CONTRACT range from a high of $299,900 to a low of $139,999.

Homes that are currently active on the market range in price from $299,995 to $145,900. A quick look at recent sales shows a range in value from $279,000 to $126,500. Want to know how your home compares? Give me a call at (301)-653-8116 and request a free Market Analysis for your home!

~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
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How the wrong Realtor will cost you $20,000!!!

Admin — Mon, 17 Aug 2009 19:23:51 +0000

The PG County “Down Payment on Your Dream” program, also known as the Neighborhood Stabilization Program (NSP) or Down Payment Closing Cost Assistance Program (DPCCA) is proving to be wildly popular.

I get multiple calls each and every day regarding the program, and unfortunately not everybody found out about the program in time. I get at least one call per day from somebody who has just purchased a foreclosure in PG County and didn’t find out about the program until after settlement. Inevitably, the conversation goes something like this:

New Home Owner: I didn’t find out about the program until after I closed on the house, can I still take advantage of the program?

Me:    Unfortunately, I don’t believe that’s possible.

New Home Owner:    Well, Why not? I qualify for it!

Me:    Part of the qualification is that you use a participating lender for the transaction, and you also need a certificate of completion of the 8 hour HUD home ownership education class.

New Home Owner:    Well, I didn’t know about it, my lender didn’t tell me about the program!

Me:    Well, if your lender is not participating in the program, they don’t have any obligation to tell you about a competing lender’s possible options, so I would assume they would rather keep your business instead of giving it to a competing loan officer.

New Home Owner:    Shouldn’t my Realtor have known about this program?

Me: That’s not a question I can answer. All I can say is that I am telling all of my PG County clients about the program. My best suggestion would be to call your Realtor directly and ask them.

Unfortunately, I don’t know of any way to take advantage of the program if you’ve already purchased, but I know plenty of people who would like to! This situation (unfortunately) teaches a very important lesson when it comes to real estate. Not all agents are equal, and choosing the wrong agent is costing people up to $20,000 in PG County!!!

~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
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Southern Maryland Custom Homes & Land

New real estate listing for sale in Waldorf, MD! $285,000

Admin — Tue, 11 Aug 2009 16:13:19 +0000

Check out or newest hot listing! This home is located in Waldorf, MD and has more than 2,000 square feet with 4 bedrooms and 2.5 baths! The back yard is completely fenced in, and practically everything is new! New kitchen, new baths, new doors, new siding, new flooring, and the list goes on! There’s also a 1 year warranty included with the home! Check out this video to get a better look!

[youtube=http://www.youtube.com/watch?v=ZtNPLcwBaho]

The price is only $285,000, and there’s no HOA to worry about! Don’t miss out on your chance to see this great home! This home needs absolutely nothing! Give us a call to schedule a viewing of your new home!

~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

Help Us Collect School Supplies for Charles County School Kids!

Admin — Tue, 28 Jul 2009 17:34:42 +0000

I can hardly believe it, but it’s time for Century 21 New Millennium’s back to school supply drive! From now until August 15th, we are collecting school supplies for less fortunate children, and we will be delivering all of the supplies we collect to Dr. Mudd Elementary School before the school year starts!

~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

Yes, You CAN Buy a PG County Foreclosure for $1,000 Down!

Admin — Fri, 10 Jul 2009 16:48:09 +0000

As you may have heard, HUD’s Neighborhood Stabilization Program (NSP), has been implemented in Prince George’s County, Maryland, and the incentives for buying a foreclosure in PG County are STAGGERING!

The goal of the program is to reduce the number of vacant homes in neighborhoods troubled by foreclosures. Through a government funded program (Thanks to the large economic stimulus package), PG County has been allocated $10,883,234 for a program called the “Down Payment Closing Cost Assistance Program” (DPCCA).

If you’re looking to buy a foreclosure in PG County, you may qualify! For a detailed list of qualification requirements, please click here: Down Payment Assistance for First Time Home Buyers in PG County. This is going to allow you to purchase your first home with between $1,000-2,000 down, and no closing costs or additional down payment required! That means some people are actually going to be getting their first home for almost nothing down, AND they can qualify for the $8,000 first time home buyer credit as well!

Keep in mind that this program is not designed to get people loans with serious credit issues. Your credit and debt-to-income (DTI) ratio’s need to allow you to qualify for a traditional mortgage. This program has been designed for people with good credit, but limited savings.

Will You Need to Pay Back the DPCCA?

You may be required to pay back some or all of the DPCCA Money you receive, depending on how long you live in the home. The money is treated like an interest free loan, that does not need to be paid back until you sell your home. Here’s the rundown on how much you may owe at settlement:

If you live in the home for: % of amount due is:

0-3 years 100%

3-6 years 50%

6-9 years 30%

10+ years 0%

The longer you live in the house, the more money you save! When you figure that this program can save you anywhere between $6,000-$20,000, it makes one heck of an argument for buying a foreclosed home!

Have Questions, or Want to Know More?

Please feel free to give me a call on my direct line at (301)-653-8116 and I’ll be more than happy to assist you with taking advantage of this great program!

~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