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
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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

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

I’ve had several clients recently who have come up against a common challenge in buying a home right now, and I’m not talking about tough lending standards!  It’s hard enough to be a first time home buyer in Southern Maryland;  Trying to understand the loan process can be stressful, understanding all of the moving parts involved in a real estate transaction is difficult, and now investors are coming into the market with a passion!

What’s Happening?

Unfortunately this means that home buyers are forced to compete with cash-flushed investors who are ready and willing to make a splash in real estate again.  With banks under pressure to sell off the foreclosures and REO properties they currently have, investors are quite often making the bank a deal they can’t refuse, specifically, CASH! (Rel. Link: Washington Post: Cash Investors Trigger Bidding Wars)

Investors Are Hard to Compete With

The reason investors are hitting the market so hard is simple.  There are a ton of cheap homes for sale right now!  Investors are experts at identifying great deals, and they have the ability to write offers that traditional buyers simply can’t compete with.

When an investor writes an offer, they often have the ability to write a contract that includes a proof of funds (POF) letter showing they have the liquidity to purchase cash, which means that the banks don’t have to worry about appraisals, underwriter approvals, termite inspections, or perhaps even a home inspection!

When compared to a home buyer who needs a loan to purchase the property, an investor could go to closing within 10 days, while a home buyer may need 30-45 days (or more) to get through inspections, appraisals, and underwriting.  It’s a no-brainer for the bank, a cash offer has very little chance of falling apart, and in some cases the bank may even take a lower priced offer if the purchaser is writing for cash.

Banks Are Underpricing Homes

The other issue that buyers can find frustrating right now is that banks are often deliberately underpricing foreclosure properties.  You see, banks WANT to getting these sort of bidding wars started.  By getting multiple bids simultaneously on a single property, banks can force people to offer more money on the home, using the fear of losing the property as motivation for offering more money.

What Are Investors Doing With These Homes?

What the investor does with the home depends on what their goals are.  For some, they are investing into rehabbing the property so that they can sell it in tip-top shape for a profit.  For others, they are holding on to the properties and using them as rental units.  The profit margins can be very lucrative:

Home Price: $150,000

Closing Costs: $2,500

Total Purchase Cost: $152,500

Annual Taxes: $1,400-$1,600

Rental Value: $1,450/mo or $17,400/yr

Annual Income: $15,800

Annual Return on Investment (ROI): 10.3%

With an ROI of more than 8%, the profit potential is very attractive for possible investors!  Unfortunately, until sales prices or rental values change, investors have a very good reason to be buying homes, and individual buyers are going to continue to see this trend continue.

~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

Essentially the dispute is between the County Commissioners, who want to see this project happen, and environmentalists who claim the risk of damage to the Mattawoman Creek Watershed is too great.

The importance of this road cannot be understated.  Charles County is in a state of growth due to it’s proximity to Washington, D.C..  As Charles County grows, roadways become more congested, and alternative routes of transportation are necessary to support the residents of the county.  Adding the connector will also reduce traffic across Billingsley Road, which is quite possibly the deadliest road in the area!  From a safety standpoint, I find the road to be very important, but there’s much more than just road safety along a back road in Charles County.

Population will Continue to Grow

In addition, complaints have been made that the road is not “necessary” as congestion along Rt. 228 is not particularly heavy during rush hour.  The concern is that regardless of the final decision on the connector, long term plans in Charles County clearly show plans for further development that will go through whether this road is approved or not.  If the connector is denied, population will continue to grow, and accessibility to D.C. from Charles County will suffer.

Light Rail Isn’t Realistic

The common rebuttal to this is the option putting in some sort of light rail or commuter trains in from here to D.C.  Unfortunately, what nobody mentions when this idea is brought up is that Light Rail averaged $70 million PER MILE as of 2000.  Figure 18 miles of rail from DC to Waldorf, and you’re looking at $1.26 billion, for a total county population of less than 150,000 people.  I would dare anyone to prove that light rail to Southern Maryland would be at all economical.  It’s not, period.

Protecting The Watershed

Detractors also decry the future growth and development that would happen along the road if it were to be put in.  The fact is, much of the area surrounding the proposed path of this road is in a critical watershed area. Why in pete’s name would the county allow people to build homes in the watershed.  The solution sounds simple to me. Take the state maps of the Mattawoman Creek critical area, and prevent residential building permits from being approved there.  Oh, wait, that’s already happening!

Why This NEEDS To Be Built!

In my opinion, the County has no option in order to keep D.C. accessable to it’s residents.  Mass transit cannot be supported by the current population.  Roads are needed in order to ensure people can continue to make it to work on time.

The County has bent over backwards to minimize watershed impact, to the point where the traverse over the creek itself would actually REPLACE that section of Billingsley Road, and other green building methods have been discussed and agreed to in order to reduce impact on the watershed.  At what point are people finally going to accept that this project CAN be done in a way that is financially AND ecologically sound?

~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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Crash site photo from the MD Independent

Call it a case of youthfull error perhaps, but one surprised homeowner in Waldorf was startled Tuesday morning by the sound of an SUV being driven through the front door!

It was all due to a 17 year old driver who lost control of the SUV he was driving and somehow ended up inside a townhouse at the 3600 block of Kimpsford Field Place.  The vehicle ended up taking out the staircase inside the home, and rescue crews had to resuce the property tenants from the second floor!  Fortunately nobody was hurt, but there’s no word yet on possible charges related to the incident.

I wonder if the tenants are looking for a new place to live?  If so, I know a great Realtor who works in the area!

~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

[youtube=http://www.youtube.com/watch?v=b9pDkekZ6E4]

This Beautiful home with loads of upgrades is located right in
Waldorf! Large kitchen, and gorgeous family room! It’s Located in White Oak Village subdivision and move in ready! The
Open floor plan makes this home feel large and inviting. Beautiful
private deck with Large fenced back yard. and playset for the kids!
Don’t miss your chance to see this fantastic property!

~Jonathan Benya- Realtor
301-653-8116

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

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
SOMD Home Search
Southern Maryland Custom Homes & Land

[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

(P.S., you can click on the images to zoom in on them!)

If you have any questions or would like more information about one of these fabulous properties, please feel free to give me a call!  One of our luxury home experts can help you identify and broker an outstanding deal one 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

May 2009

What Does This Mean?

Unfortunately, prices have fallen from where they were 12 months ago.  A quick look at the sales statistics from April shows us some promising information, however:

April 2009

The average home sales price for April 2009 was $267,170.  In may, that number was $281,235, or an increase of just over 5% in sales price!  Not only that, but there were 86 homes sold in April, and 119 homes sold in May.  That’s a 28% increase in home sales over the last month!

So we know that home sales are up, sales prices are starting to rise, but why is the market starting to look a little brighter?  Well, part of it is that prices and affordability are enticing more buyers.  That, along with 45 year lows on interest rates, as well as the $8,000 new home tax incentive, means that first time buyers are seeing value in the soft market.

It’s too early to say turnaround, but home sellers are seeing some encouraging information here!  Let’s hope that this is the start of a broader economic recovery!

~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