The Kennedy Center in Washington, D.C. has a really cool Japanese culture and hyper-culture arts festival going on through 2/17/2008, and if you get the chance, check out their website and look at some of the shows and exhibits they have! Some of the shows are even free!
The art exhibits are out of this world, too! They have anime and manga displays, modern hyper-culture art exhibits, and all sorts of other neat shows (Japanese Opera, Robotics Lectures, There's something for everyone!).
~Jonathan Benya
I'm excited about Charles County's newest recreational development! In October, 2006 the Navy donated a 13 mile stretch of train track running from White Plains to Indian Head, and now that stretch of dormant track is slated to be turned into a recreational trail for Charles County!
They're planning to tear out the tracks and install a 100' wide asphalt and gravel trail so that residents can use the former rail line as a hiking trail, bike path, and possibly even for horseback riding!
There are about 14,000 miles of trails in the United States, said Jeff Ciabotti, vice president of trail development at RTC. In the future, that distance will more than double as new trails are being planned and built.
Additionally, according to Ciabotti, a rail trail will only increase the property values of nearby homes and real estate agents will begin touting the proximity of a home to such an amenity.
The trail should also create an increase in the quality of life for local residents, as well. I've taken some photos of the currently defunct tracks that are along the proposed trail path, and I think that this is going to be a fantastic project for county to take advantage of! I can't wait until the trail is completed and I can get out to see more scenic views of Charles County!
Between this and the new Pisgah Park Development Project in Indian Head, I think it's great to see that the County is working to increase the recreational resources of the region!
Maryland Independent Article on Charles County Walking Trail
~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
Southern Maryland Real Estate Blog
Foreclosure Dogs are becoming big news. Man's best friend is quickly becoming an expendable commodity to some as people are losing their homes to the credit crunch. Regardless of what the circumstances were for the foreclosure, it's not the pet's fault, and now many of them are finding themselves facing euthanization.
The Washington Post recently ran an associated press article about the growing number of cats and dogs abandoned because of foreclosures.
The house was ravaged _ its floors ripped, walls busted and lights smashed by owners who trashed their home before a bank foreclosed on it. Hidden in the wreckage was an abandoned member of the family: a starving pit bull.
The dog found by workers was too far gone to save _ another example of how pets are becoming the newest victims of the nation's mortgage crisis as homeowners leave animals behind when they can no longer afford their property.
The rash of discarded pets is gut wrenching. I can't imagine how their owners must feel surrendering their beloved pets to the shelter, but to simply abandon a dog or cat completely, cut them loose and let them run as strays, is simply disgusting.
Even shelters are overwhelmed at this point. Shelters across the country are reporting a huge increase in surrendered pets, and for many of these former pets the odds of getting adopted before they're put down is 50/50 or less.
I can't imagine the loss and devastation I would feel if I had to give up my dogs, knowing that there's a good chance they would end up being euthanized. If anyone is considering getting a dog or cat, please, help ease the burden of shelters by adopting a stray or surrendered dog rather than purchasing a puppy from a breeder. You're making the difference between life and death for these dogs and cats!
Link to Washington Post Article
~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
Southern Maryland Real Estate Blog
Charles County has seen an upswing in Bank Owned (REO) properties for sale in the past month. In my last report, I indicated that there were 55 current foreclosures on the market in Charles County. That number has now crept up to 69.
Increasing Foreclosures
REO properties are rising because of the fallout from the credit crunch, obviously. Foreclosures negatively affect the value of homes and force the overall value of homes in a region to decrease. As the number of foreclosures goes up, the cost of buying falls, plain and simple.
Some (not all) of the foreclosures that are on the market can be a really great buy. One of my clients recently ratified a contract on a foreclosure that was on the market. The property was available for less than a week. It's typical of how the foreclosure market actually works. Some of the properties are undervalued and sell very quickly, while overpriced properties can stay on the market for months.
I send out foreclosure lists daily to my clients so that they can see the most recent foreclosures available, and it ensures that they can take advantage of the best values available on the market. If you would like to receive foreclosure list updates, email me and I will ensure that you can find the best foreclosure values available as they come on the market!
Current (2/3/2008) Charles County Foreclosure List
~Jonathan Benya
Century 21 New Millennium
Team Benya
301-653-8116
Website
Blogsite
As many of you know, I have been watching new development in La Plata, Maryland very closely, and more than a few people have voiced concern about how commercial development will impact their home's value.
Obviously, this is a sensitive subject, and I don't want to be the one that yells "FIRE!" in a crowded building. This is a legitimate concern for folks, so I wanted to break the issue down a little bit here.
WILL VALUES RISE?
Home values are very likely to be impacted, but it's going to mean different things to different people, and location is a key factor. Let's start by looking at some of the positive impact angles first, and we'll discuss negative impact in a bit.
As we say in the real estate business, the three biggest impacts on value are location, location, location. Not only is it important to consider the location of your home, but also it's surrounding location.
If you were to look at two identical homes, one in Indian Head and one in La Plata, which would be more valuable?
Most likely, the property in La Plata would be worth more. Why? A couple of reasons.
First, it's interesting to note that for D.C. Commuters, a home in Indian Head is likely to be the same commute time (or less) than La Plata would be, and the commute to the Indian Head Naval Base would even be shorter. La Plata, however, has a more developed local atmosphere. There are more communities, more shopping, etc. While Indian Head provides more space and generally larger lot sizes, The draw towards the community atmosphere is undeniable.
Secondly, there is an added convenience to living in La Plata. The ability to get groceries, clothing, electronics, auto supplies, furniture, etc. without having to drive more than a few miles from your home is a must for many people. Trying to accomplish the same goal in Indian Head is difficult, and the fact that amenities such as this are less convenient means that some people wouldn't even consider living there. This trends both ways mind you, but as development in Waldorf and La Plata has proven, there are more people looking for convenience than there are looking for that added person space.
When you consider that a development project like Kohl's is adding to the shopping choices and convenience of the area, there's no doubt that it will help to increase the value of living in La Plata because it makes life here more convenient.
Also, Quailwood residents in particular can attest to the fact that there is a trend of previous sales that shows properties on Quailwood Parkway sell faster than homes on the smaller side streets. Again, this is due to the convenience of the location. Those homes are seen by more people driving through the neighborhood that are looking to buy a home. People still find and buy homes that they saw while "passing through" the neighborhood.
I have a home currently listed for sale on 111 Quailwood Parkway. Anybody that passes through with home buying in mind is likely to see my listing and sign. If they like the look of the home, they're likely to call me about it. If another identical home is for sale in Quailwood, but tucked away on a quiet cul-de-sac, it is less likely to be seen. The convenience of the location has helped to promote and sell the home, even though an identical property may be available on a less traveled road.
People are complaining right now about potential road traffic increases that Kohl's would bring because of people using their neighborhood as a short cut to avoid Rt. 301. This may be something that you're opposed to, and I can't say that I would blame you! I am very happy with the fact that I live on a quiet road myself, and would not be happy with living on a higher traffic road. It may be a cold comfort, but the fact is that IF more traffic were to pass through Oriole Ln. It would create greater visibility for homes that were up for sale in that immediate area and may assist in helping them to sell faster.
WILL VALUES FALL?
I have spoken briefly on why prices may fall before, but there's a lot of details involved in how prices may be negatively impacted.
The BIGGEST reason that home prices may be damaged is because of the VIEW (again; location, anyone?). IF (and this is a very BIG if, I cannot say for certain what the final outcome will be) The Kohl's store were to be visible from people's homes and/or back yards, that could be potentially detrimental to the overall ability to sell the home in the future. There are lots of homes that don't have a view of a loading dock, so unless you find a buyer who loves loading docks, there would need to be a reduction in value to sell a home with such a concern.
I say IF because we simply don't KNOW what the final view will be. Trees may help obscure the view, they may even solve the problem entirely, but it is possible(not certain!) that the immediate vicinity of the store could cause a negative impact. There's a good analogy of the negative impact here.
As I said at the begging of this blog, I don't want to be yelling "FIRE!", or causing panic, but these are concerns that need to be addressed.
If Oriole Ln. became a popular way for people to avoid taking 301 to get to Kohl's, it can potentially diminish the quality of life for people living in the affected areas, yes. While this may be less desirable to you, it is difficult to say that it would directly diminish the value of the homes on Oriole Ln. Bear in mind that the average time on market for homes on Quailwood Pkwy. is less than that of other homes in the community, so while living on a road with less traffic may be more desirable, it is not seen by potential buyers as much as a home on a busier road.
WRAP UP
This is development is going to affect different homeowners in different ways. There is a clearly defined benefit for some residents, and some *possible* drawbacks for others. What's nice about the added convenience is that it helps the region grow and offer added convenience. It is the associated inconveniences that are upsetting people, and rightfully so.
The NIMBY (Not In MY Back Yard) concept is being played out very clearly for local residents to see. The question is: When all is said and done, who are the winners (The Developer; Some Residents)? The losers(Possibly residents with a diminished view)? and what side do you fall under?
Questions? Ideas? Comments? Call or Email me!
~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
Southern Maryland Real Estate Blog
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I work as part of Team Benya At Century 21 New Millennium in Southern Maryland. We make it our primary goal to work hard and provide the most honest information available in today's changing market.
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