An Update on Real Estate Sales Activity in Piney Orchard’s Piney Station Neighborhood

With the first quarter of 2015 nearly complete, let’s take a quick look at the recent real estate sales activity in the Piney Station neighborhood of Piney Orchard. Piney Orchard is one of the most popular residential communities in Odenton, Maryland, with tremendous amenities and quick access to the Fort Meade, Maryland, military installation.

 

Statistics from the MLS show that two homes in Piney Station have sold so far in 2015:

 

1. 1020 Meandering Way, Odenton, Maryland, 21113

Piney Orchard Home Sales

This townhome located at 1020 Meandering Way in the Piney Orchard section of Odenton, Maryland, sold on January 29, 2015, for $310,200. This home was a foreclosed property sold by the bank that repossessed it.

List Price: $310,000

Close Price: $310,200

Seller Help Provided to Buyer: $0

Close Date: Jan. 29, 2015

Days on Market: 105

Notes: This home was a foreclosed property sold by the bank that repossessed it. The home was sold in “as-is” condition. The property has 3 bedrooms, 2.5 bathrooms, a 1-car garage, and it is an interior (not end) unit. Other features include a brick front exterior, eat-in kitchen, deck, gas fireplace, and rear yard backing to a common area with a nice view.

 

2. 2480 Ivy Landing Way, Odenton, Maryland, 21113

Piney Orchard Home Sales

2480 Ivy Landing Way in the Piney Orchard section of Odenton, Maryland, recently sold for $350,000.

List Price: $354,900

Close Price: $350,000

Seller Help Provided to Buyer: $1,000

Close Date: Jan. 11, 2015

Days on Market: 43

Notes: This transaction was a standard sale, not a short sale or foreclosure. The home is an end unit with a fully finished walk-out basement. The home includes bump-outs on two levels, 3 bedrooms and 3.5 baths. Also included are hardwood floors, crown moulding, and an updated kitchen with granite counters and stainless steel appliances. The family room has a cathedral ceiling, and there is a gas fireplace and full bath in the basement. The sellers also provided a home warranty to the buyers.

 

Meanwhile, four Piney Station homes currently are listed for sale on the MLS, and one of those homes is under contract.

 

1. 2570 Junco Court, Odenton, Maryland 21113

Piney Orchard Homes for Sale

This three-level townhome at 2570 Junco Court, Odenton, is listed for $374,500. The property is under contract, with an expected settlement date in April 2015.

List Price: $374,500

List Date: Aug. 4, 2014

Days on Market: 214

Bedrooms: 3

Bathrooms: 2.5

Notes: This home differs from the other three homes currently for sale in Piney Station in that this home has a one-car garage and three levels above grade. The home includes an open living room with dining area, a kitchen with an island and a breakfast area, and a fireplace on the main level. The master bedroom includes a walk-in closet and a private bath. The walkout level rec room includes a powder room and laundry closet. The homes also boasts new paint and carpet.

 

2. 2519 Black Oak Way, Odenton, Maryland, 21113

Piney Orchard Homes for Sale

This home at 2519 Black Oak Way, in the Piney Station neighborhood of Piney Orchard, Odenton, is one of three Piney Station homes currently for sale on the same street – and offered at nearly the same price.

List Price: $320,000

List Date: Jan. 20, 2015

Days on Market: 65

Bedrooms: 3

Bathrooms: 3.5

Notes: The first of three Piney Station homes currently for sale on the same street – and offered at nearly the same price — this home backs to woods. It has a large deck, a lower-level brick patio and a three-level bump-out. It also features two large bedrooms upstairs, each with its own full bath. The finished basement can be used as a third bedroom and rec room. The kitchen area has a large bump-out to act as separate dining area, office or sitting room.

 

3. 2507 Black Oak Way, Odenton, Maryland, 21113

Piney Orchard Homes for Sale

This home at 2507 Black Oak Way in the Piney Station neighborhood of Piney Orchard, Odenton, is listed for $319,000, and has been on the market 139 days.

List Price: $ 319,000

List Date: Nov. 3, 2014

Days on Market: 139

Bedrooms: 3

Bathrooms: 3.5

Notes: This home features a finished, walk-out basement with a bump-out and a full bath. There’s also a bump-out sun room on the main level. The home backs to trees.

 

4. 2509 Black Oak Way, Odenton, Maryland 21113

Piney Orchard Homes for Sale

2509 Black Oak Way, in the Piney Station neighborhood of Piney Orchard, Odenton, is currently listed for sale at $319,900.

List Price: $319,900

List Date: March 6, 2015

Days on Market: 20

Bedrooms: 3

Bathrooms: 2.5

Notes: This home has a fully finished basement and a two-story bump out. The main level has hardwood floors in the living room and foyer. The upgraded kitchen features newer appliances, recently installed granite, a back splash and a tile floor. There is new carpet on the stairs and on the upper level. The lower level has an open family room. On the exterior, the home has a large deck overlooking a private wooded yard.

 

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website (www.JerryKline.kwrealty.com).

 

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A Closer Look at Recent Home Sales in Odenton’s Piney Station Neighborhood

Piney Station is one of many smaller neighborhoods that comprise the large and popular Piney Orchard community in Odenton, Maryland.

Piney Station is one of many smaller neighborhoods that comprise the large and popular Piney Orchard community in Odenton, Maryland.

Piney Station is one of many smaller neighborhoods comprising the large and popular Piney Orchard section of Odenton, Maryland. The charming group of 200+ townhomes that makes up Piney Station is directly adjacent to the well-used and multifaceted GORC Park.

I recently took an in-depth look at the real estate microclimate of Piney Station townhomes without garages. Overall, 2014 was a worse year for these Piney Station home sellers than 2013.

Based on MLS data for these homes sold over the past two years, here’s what I found:
– 8 Piney Station townhomes without garages sold in 2013;
– 7 such homes sold in Piney Station in 2014;
– In 2014, the average sale price of these homes was $328,285;
– In 2013, the average sale price of these homes was $329,875;
– The average amount of closing assistance provided by the sellers of these homes to their buyers in 2014 was $7,024 (2.13%);
– The average amount of closing assistance provided by the sellers of these homes to their buyers in 2013 was $5,964 (1.8%);
– The average “closing price minus seller help” amount netted by sellers in 2014 was $321,261;
– The average “closing price minus seller help” amount netted by sellers in 2013 was $323,911;
– The average number of days these sold homes stayed on the market in 2014 was 65 days; and
– The average number of days these sold homes stayed on the market in 2013 was 29 days.

As 2015 began, 2507 Black Oak Way and 2480 Ivy Landing Way were the only Piney Station homes for sale without garages.

For more information on the Piney Orchard community and other homes in the greater Odenton and Fort Meade areas, contact Jerry Kline, Realtor, Keller Williams Flagship of Maryland, at (443) 924-7418.

 

 

Congratulations Sharon George on the Sale of Your Piney Orchard Condo!

Jerry Kline (right), Realtor with Keller Williams Flagship of Maryland, celebrates with Sharon George, following the sale of her mother's condo in the Piney Orchard section of Odenton, Md.

Jerry Kline (right), Realtor with Keller Williams Flagship of Maryland, celebrates with Sharon George, following the sale of her mother’s condo in the Piney Orchard section of Odenton, Md.

Sharon George needed help selling her mother’s condo in the Piney Orchard section of Odenton, Md. The ground floor unit in Chestnut Gable was bright, airy and completely renovated. Staged beautifully, priced right and effectively marketed, the home sold very quickly. Thanks, Sharon, for all your good humor and teamwork!

Do you know someone thinking of buying or selling a home in the greater central Maryland area? Have them give me a call on my direct line (443) 924-7418. I’d be glad to help them any way I can!

Jerry Kline Named Keller Williams Odenton Agent of the Month for November

Jerry Kline (right), Realtor with Keller Williams Flagship of Maryland, receives the Odenton Agent of the Month Award for November 2014 from Keller Williams Associate Broker Robert Wakefield.

Jerry Kline (right), Realtor with Keller Williams Flagship of Maryland, receives the Odenton Agent of the Month Award for November 2014 from Keller Williams Associate Broker Robert Wakefield.

Many thanks to my buyer and seller clients who closed their real estate transactions in November — among them Randy Barth, Mike & Melissa Fletcher, and David & Isabella White. All of you could have chosen any real estate agent out there, and I very much appreciate the trust you put in me to get your goals accomplished. Thanks, also, to all of the agents in the Keller Williams Odenton office. You’re all great friends and you’re always there when I need help!

Odenton, Md., Home Prices, Sales Slumped in November

Number of Homes Sold Dropped 29 Percent; Median Prices Down 8 Percent

Odenton 2

November brought a steep drop in temperatures to Odenton and nearby Ft. Meade, Md., and along with the cold weather came a corresponding chill in the local real estate market.

Year-over-year housing numbers show that fewer homes sold in Odenton in November 2014 than in the previous November. Average home prices here dropped and homes took longer to sell.

Median home prices in zip code 21113 dropped 8 percent, from $305,000 to $280,000. The number of homes that were sold fell 29 percent, from 38 to 27. And the average number of days those homes stayed on the market rose 18 percent, from 45 days to 53 days.

Last month also saw a 20 percent jump in the total number of homes listed for sale in Odenton compared to the previous November (147 homes versus 122 homes).

The number of detached single family homes sold in Odenton took the biggest hit, dropping 53 percent, from 15 homes to seven. Similarly, the median sale price of those homes plunged 36 percent from the same time last year.

Attached homes, which include townhomes, condominiums and duplexes, fared a little better by comparison. Average prices of attached homes sold in Odenton dropped 4 percent over the previous year, while the number of attached units sold dropped from 23 to 20.

The housing data was issued by RealEstate Business Intelligence.

 

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418 or JerryKline@kw.com, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website (www.JerryKline.kwrealty.com).

Class-Action Lawsuit Against Creig Northrop Real Estate Team Underscores Consumer Protections for Home Buyers, Home Sellers

Scales of Justice

 

 

 

 

 

A large class-action lawsuit recently certified against Maryland’s Creig Northrop Real Estate Team serves as an excellent reminder of the consumer protections afforded to home buyers and home sellers under the federal Real Estate Settlement Procedures Act (RESPA).

RESPA, enacted by Congress in 1974, is designed to protect consumers from unscrupulous practices in the real estate industry. Its chief purpose is to help consumers become better shoppers for real estate settlement services and to eliminate kickbacks and referral fees that unnecessarily increase the costs of closing a transaction.

Among other things, the act prohibits kickbacks between lenders and third-party settlement agents in the settlement process.

The lawsuit, filed in 2013, alleges that The Creig Northrop Team P.C. and others received more than $500,000 in illegal kickbacks from Lakeview Title Co. Inc. over a period of years. The class certified by the court in January includes all purchasers who engaged the services of The Creig Northrop Team and a defendant title insurance company from Jan. 1, 2008, until the present.

The number of home buyers and home sellers included in the class of plaintiffs is potentially huge. The Creig Northrop Team P.C. is affiliated with Long & Foster Real Estate Inc., and was ranked second in the country last year and first in 2012 in the amount of real estate transaction volume handled.

Under RESPA, service providers in a real estate transaction must provide a variety of disclosures to their clients. (See http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/rmra/res/respamor#HD) Certain disclosures must be made at the time of loan application, before settlement occurs, at settlement and after settlement.

Also important for home buyers and home sellers is the Affiliated Business Arrangement Disclosure. This disclosure is required whenever a settlement service provider involved in a RESPA-covered transaction refers the client to a provider with whom the referring party has an ownership or other beneficial interest.

The referring party must give this disclosure to the client at or prior to the time of referral. The disclosure must describe the business arrangement that exists between the two providers and give the borrower an estimate of the second provider’s charges.

Except in cases where a lender refers a borrower to an attorney, credit reporting agency or real estate appraiser to represent the lender’s interest in the transaction, the referring party may not require the consumer to use the particular provider being referred.

For more information on the case (Patrick Baehr et al. v. The Creig Northrop Team P.C. et al.)), see http://www.inman.com/2014/02/25/top-producing-long-foster-team-facing-class-action-respa-suit-over-alleged-kickbacks-to-title-insurance-agency/

 

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website (www.JerryKline.kwrealty.com).

 

Workers Who Relocate Share Their Must-Haves for a New Home

When it comes to relocation for a new job, transferees say the two most important factors in choosing a new home are being in or near a specific school district and having a work commute of 30 minutes or less.

Relocating Employees Share Their Dream Lists