Kaine Homes has been building new homes in Calvert County for almost 60 years, and we'll be here for a long time to come. Our “Happenings” section will keep you up to date with relevant county news, local real estate topics, and how we give back to the county. Please subscribe to our updates on the right, and join in the conversation. We look forward to hearing from you.
In this first issue of The State of Real Estate, lets discuss the activity and trends we’ve been seeing over the last several months. The chart below, presents a lot of data, but tells a few key stories. Some noteworthy points are:
While not a perfect trend, homes do appear to be selling quicker in the last 90 days.
As I mentioned in the video, if you’re selling a home, expect to offer your buyers some closing cost assistance to make the deal happen.
Homes are selling for about 80-90% of their tax assessed value, indicating tax bills in Calvert Countymay be getting more affordable in the near future.
First the bad news – Lynn Bonde, the energetic and visionary CEO of Calvert Hospice is retiring following a successful 12 year career. The good news – Lynn’s long list of accomplishments include the building of the Burnett-Calvert Hospice House and the creation of the Shoppe for Hospice ladies and children’s gently used clothing store. At Lynn’s Retirement Dinner, to highlight Shoppe for Hospice, a fashion show was hosted by Ann Kaine, manager of the Shoppe.
Kaine Homes and Marrick Homes Keep Up Robust 2009 Sales Pace
Both Calvert County home builders are pleased with combined sales of almost 40 homes in the last 13 months in the College Station community. An convenient Prince Frederick location combined with exceptionally affordable prices from the mid $300’s has attracted many first time homebuyers as well as folks purchasing their second homes. Both Kaine Homes and Marrick Homes feature furnished model homes and design centers and are open seven days a week.
Thanks to Eileen Jenkins, EMT and Trainer, we learned valuable emergency first aid skills including CPR. For example, to stop a nose-bleed, you hold your head down and squeeze your nostrils. Many thought the correct procedure was to tilt your head backwards (blood then drains down your throat – a no-no). Here’s another – 90% of bleeds can be stopped by applying consistent pressure. Eileen, you did a great job putting up with our not-always-on-task group.
For those of us whose constantly monitor the housing market, we’re ever watchful for what we hope will be the bottom of this Great Recession. Why are we looking so hard? Because no recovery can start until most of the lights are off. The bottom will give us a new foundation upon which the economy and the housing market can rebuild. Thankfully, all real estate markets are local. We’re very grateful that we’re in the Washington Metro market which is still supporting strong job growth. Many areas of the country (FL, AZ, NV, CA) still have considerable bleeding left before they reach the bottom.
In a recent report by Mark Zandi, chief economist of Moody’s Economy.com, noted that prices in the Washington Metro market would decline by about 6% butrebound next year by more than 4%. Another report by Hanley Wood Market Intelligence places the DC area in the top 10 real estate markets in the country.
Speaking in very local terms, our Calvert County market seems to be sprouting some “green shoots” of stabilization. In fact, our home and lot prices have started to rise in the last few months. This hasn’t happened for over two years. Be on the lookout for Melissa’s upcoming blog post where she’ll do an in depth analysis of our local sales activity.
So just maybe what I see rising under my feet is the bottom. Let’s hope.
Have you ever been around someone who really has a great singing voice? You’re used to hearing their speaking voice but when they start to sing, it’s almost like they become a different person. I knew early on that pursuing a singing career would be an illadvised endeavor so I stayed with the talking program. Bruce Rider, our long term lending representative from George Mason Mortgage, could easily have chosen singing as his full time gig. Both he and his brother, Fred, have incredible voices.
Bruce kindly treated our staff to an afternoon of fine food and Christmas melodies several weeks ago and we all quickly got into the spirit of the season.
Shannon also has some pretty good pipes herself!
All of us at Kaine wish everyone a Happy Holiday Season.
Melissa Blum, our energetic and creative New Home Sales Associate, suggested that instead of our normal holiday gift exchange, we all pitch in and create “support supplies shipments” for several servicemen she knew stationed in the Middle East. This effort was strongly endorsed by all of us and made for a very meaningful Christmas experience.
We wish Jeff and Mike a very Merry Christmas and please return to us safefly and soon.
Meeting Highlights the Importance of Long Term Relationships
Creating a consistent, high-quality product is totally dependent upon having a group of dedicated employees, trade contractors and service providers. At Kaine Homes, we place tremendous value in our long term relationships and feel honored to be able to regularly express our appreciation to everyone who helps makes a Kaine Home truly special.
Influential Political Organization Celebrates Holiday Season with Potluck Dinner Party at Kaine Homes Model
The Calvert County Chapter of the League of Women Voters enjoyed a festive dinner and meeting at our new Model Homes in College Station. We’ve hosted previous League events and we always enjoy brainstorming with League members as to how we can bring sensible and needed affordable housing to Calvert County. I was also privileged to give a short talk on why our TRADITIONS project failed to gain traction due to the overwhelming anti-growth sentiment here in Calvert County.
Washington Metro Area #3 Healthiest New Home Market in Nation
Research shows shows that Washington, D.C., is one of the few major markets to actually record an increase in new home sales this year; sales were up 17% through June, according to Hanley Wood Market Intelligence, though the market slowed in September. The federal government appears to be living up to its reputation as a counter-cyclical buffer, though many of the jobs in the nation’s capital are now in the tech sector. Home prices in this high-priced region seemed to correct early. Median home prices fell 20% in 2008 and have fallen another 21% through September of this year. But in a research note, market researcher Dan Fulton recently asserted that home prices probably won’t decline further. In his opinion, Northern Virginia doesn’t have enough housing, while Maryland’s Prince George’s and Charles counties continue to suffer from oversupply. Washington qualifies as one of the most affluent markets in the country with a median income of $83,500.
