A Look at New-Construction Townhomes in the Fort Meade, Maryland, Area

Nearly a Dozen New Townhome Communities Are Being Built Within Five Minutes of This Key Federal Intelligence Hub

Lennar's new Boyer's Ridge community, located less than five minutes from Fort Meade, Maryland, is one of nearly a dozen new-townhome communities in that quickly growing area.

Lennar’s new Boyer’s Ridge community, located less than five minutes from Fort Meade, Maryland, is one of nearly a dozen new-townhome communities in that quickly growing area.

Home buyers searching for new homes in the greater Fort Meade, Maryland, area have a wide array of properties to choose from at the moment. In terms of townhomes in the areas of Odenton, Severn and Hanover, there are nearly a dozen new-home construction communities underway, with several of the big national home builders fighting for market share.

In Severn, just east of Fort Meade and adjacent to the installation’s Rockenbach gate, there are four major new construction townhome communities being built. All are less than a five-minute drive from Fort Meade. They are:

Community Built by Price Range
Millstone Village D.R. Horton $302K – $404K
Boyer’s Ridge Lennar $308K – $404K
Jacob’s Forest M/I Homes $289K – $319K
Jacob’s Forest Beazer $292K – $334K
Arundel Forest Toll Brothers $435K – $500K

 

In Hanover, just north of Fort Meade, there’s also lots of new construction activity. The building boom there is being fueled by continued job growth at the Fort Meade installation as well as by the recently opened Maryland Live Casino at Hanover’s Arundel Mills Mall. The Hanover new-construction townhome communities include:

Community Built by Price Range
Park Side Ryan Homes $327K – $402K
Park Side NV Homes $399K – $422K
Oxford Square Lennar $400K – $461K
Enclave at Arundel Preserve Toll Brothers $417K – $447K

 

Several other new townhome communities also are being built around Fort Meade. Adjacent to Fort Meade to the south is Odenton, a very popular location for military and civilian employees working at the base. The Town Center Commons community, being built by Ryan Homes, is less than a mile from the base and sits on Maryland’s MARC commuter rail line. The Odenton MARC Station provides direct access to the Penn Line, a heavily used commuter line for workers and students travelling to Baltimore and Washington, D.C., each day. The MARC system connects directly to AMTRAK, providing easy train access to the entire northeastern U.S. corridor.

Finally, in Elkridge, Maryland, a few miles northwest of Fort Meade, Ryan Homes is building its Howard Square luxury townhome community. The community is located near the intersections of Interstate 95 (with direct access to Baltimore and Washington), Rt. 1 and Rt. 175. New townhomes in that community range from $309K to $393K.

Given the wide variety of new townhome choices in the greater Fort Meade, Maryland, area, home buyers are best served by a realtor familiar with these specific projects. Jerry Kline of Keller Williams Flagship of Maryland, based in Odenton, has helped many buyers compare and contrast these communities, builders, home models and amenities. Contact him today for more help choosing just the right home near Fort Meade.

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).

 

Advertisements

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!

Federal Regulators Announce Dramatic Easing of Mortgage Standards

The move is expected to help open up the credit box to first-time buyers, self-employed borrowers, borrowers who have had recent job switches, and borrowers who faced financial hardship during the recession.

FHFA’s Dramatic Easing of Mortgage Standards

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).

 

New Disabled Veterans Mortgage Program Offers Big Help to Maryland Vets

Applicants Need to Hurry, Though – Program Ends May 30th

AAA -Disabled Veterans

 

 

 

 

 

 

Do you know a disabled military veteran looking to buy a home in this area? The state of Maryland last week announced the creation of a new – and temporary – initiative designed to help such buyers purchase a home using bargain interest rates.
Even better, the new mortgage assistance program can be used in conjunction with other state programs that offer down payment and closing cost assistance to veterans.
Interest rates for the Maryland Homefront Disabled Veterans Mortgage Program are as low as 3 percent. Up to $5,000 in down payment and closing cost assistance also is available to qualified applicants.
Interested homebuyers have to hurry, though. According to information distributed by the Maryland Department of Housing and Community Development, the program is set to expire in two months – May 30, 2014.
Program Eligibility
The program is open to honorably discharged disabled veterans. By program definition, a disabled veteran is a veteran with a 30 percent or greater disability.
Eligible veterans also must qualify for a Maryland Mortgage Program loan, based on such criteria as credit score, income limitations, etc. Before buying their home, eligible veterans must take approved homebuyer education courses and use an approved mortgage lender.
Loans under the program typically are limited to first-time homebuyers. However, this requirement can be waived under certain circumstances.
Qualification for a Veterans Administration loan is not required.
Under the program, the property purchased must be located in the state of Maryland.
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

The Cost of Building a New Home: Where Does the Money Go?

For 2013, the National Association of Home Builders broke down the cost of construction on new single-family homes into the following eight major stages of construction:

  • Interior finishes account for 29.3% of construction costs
  • Framing: 19.1%
  • Exterior finishes: 14.4%
  • Major system rough-ins: 13.4%
  • Foundations: 9.5%
  • Site work: 6.8%
  • Final steps: 6.6%
  • Other costs: 0.9%

Price Tags Rise as Homes Get Costlier to Build