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Blog Wrap Up for April 10,2011

Real Estate Information Reports

Updated on Apr 10, 2011

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Wrap Up of Happenings in Cecil County Real Estate -



Including Chesapeake City, Earleville, Elkton, & North East.



It's been over a Month since my last Wrap Up of my ramblings about local happenings in Cecil County with a focus on Real Estate. If you didn't get to see them, here they are. Visit us on the web anytime at our Web Site





March 7, 2011



Cecil County Real Estate Statistics

Week ending 3/6/2011



Cecil County Real Estate Statistics for the week ending March 6, 2011 



There were 16 properties placed under contract in Cecil County during the past week. Included in these were 3 Foreclosed Home, no Short Sales, and no New Construction.  This brings the total under contract for the month of February to 70 and March starts out with 14. 



Only 35 Properties were listed last week bringing the total to 35 for the month of March. 



31 Homes were removed from the market last week without being sold.



9 Properties Sold this last week(one of which was in March) bringing the total of homes closed in February to 29.  



Steve Hubbell, Realtor®  - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381





March 8, 2011



St Patrick's Day Parade and Pub Crawl

Chesapeake City MD

 



This Saturday, March 12, 2011, starting at 12:00 am (get there early to get a good spot) . The Parade will organize under the Bridge and proceed to Bohemia Ave and then around Pell Gardens. After the Parade the Pub Crawl Begins at the Bayard House. Donations will be accepted and benefit the Epilepsy Foundation. There will be T-Shirts available and Specials available at all Restaurants in Town. Come Visit for a Fun Time! 



 





Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)





March 10, 2011



1166 Oldfield Point Rd Elkton MD Water Access Home for Sale-



Elkmore Water Access Neighborhood



This Updated 3 bedroom 3 bath Elkton MD Bi-level  is located on a large corner lot in the Water Access Community of Elkmore. The Owner has updated the property with New Paint ,Carpet, and Flooring. There is a spacious Living area on the main level . The Main level also has the Master Bedroom with bath and 2 other good sized bedrooms. The home has Kitchens on both the main and lower levels, so property can be used as a 3 bedroom home with an efficiency, or turn the lower level into family room. The Community has community area, boat ramp and water access. 



1166 Oldfield Point Rd Elkton MD Water Access Home for Sale in Waterfront Community of Elkmore



More Details, Pics and MLS Access



Veiw All Elkton MD MLS Homes for Sale



Elkmore is located in Southern Elkton down Oldfield Point Rd. It is a water access community of more then 60 homes mostly built in the late 70's. The community has beach and boat ramp and community area. There is also a pier association for the pier located on the community property. 



Web Link: 1166 Oldfield Point Rd Elkton MD 



Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)





March 23, 2011



Open House Sunday March 27, 2011



1-3 pm



107 Harrington Dr Rising Sun MD Home for Sale



Rising Hills Neighborhood



This all Brick Hillside Ranch in Rising Sun MD features a main level with Formal Living Room, Kitchen, Dining Room and Family Room, Master with Bath and additional 2 Bedrooms and Bath. there is an Attached 2 Car Garage.  The Lower Level, which walks out to the back yard is great for entertaining with additional Kitchen/Laundry and Bath. there is also a  Huge Rec Room with Brick Fireplace,  Works hop, and Utility Room .  Finishing out this property is a Separate 2 Car Garage and additional Workshop.





More Details, Pics and MLS Access



Search all Rising Sun MD MLS Real Estate for Sale



Rising Hills is a community of Traditional homes mostly built in 2004 and 2005. This home is one of the original homes built in 1971 and has over 2 acres of land unlike the remainder of the community. Close to all Rising Sun facilities including shopping, health care, Public Library and financial institutions. Children will attend Rising Sun Elementary, Rising Sun Middle, and Rising Sun High School. Rising Hills is an easy commute to Aberdeen Provong Ground, Baltimore and Wilmington.



Web Link: 107 Harrington Dr Risning Sun MD Home for Sale



Patty McCool REALTOR®  - Patty joined The "Bay Property Team" in 2009 to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (877)-873-4522 (Equal Housing Opportunity (O)-(410)-398-9000 - Each Office Independently Owned and Operated)





March 28, 2011



545 Stoney Battery Rd Earleville MD Waterfront Home for Sale



Battery Point Farms - A Cecil County Waterfront Community



This  4 bedroom 2.5 bath Earleville MD Waterfront Home is located on 5 Acres in the Waterfront Community of Battery Point Farms. This is a Rare Opportunity to own a Superb Home on the Bohemia River. The current owners have completely renovated this special home between 2006 and 2008 including new addition for the Master Suite. The home has panoramic views of the Bohemia River from the Master Bedroom, Great Room, Office, and 3 Season Porch. The Great Room has Vaulted Ceilings, Custom Stone Fireplace and full wall of windows overlooking the River. A Full List of improvements are available upon request - This home must be on the list for any serious waterfront buyers.



545 Stoney Battery Rd Earleville MD Waterfront Home for Sale in the Cecil County Waterfront Community of Battery Point Farms



More Details, Pics and MLS Access



Veiw All Earleville MD MLS Homes for Sale



Battery Point Farms is located in Earleville MD and is one of Cecil Counties premier Waterfront communities. There are 32 Upscale Homes of various designs. All Lots are 5 acres or more affording owners much privacy. The community has an active Homewoners Association.  



Web Link: 545 Stoney Battery Rd Earleville MD Home for Sale



Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)



See This Post on Bay Property Team





April 1, 2011



 



 



545 Stoney Battery Rd Earleville MD Waterfront Home For Sale



You Tube Property Video



Battery Point Farms - A Cecil County Waterfront Community



 



 





 



 



 





Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)





April 4, 2011



Interesting Statistics for Sellers in the Cecil County Real Estate Market



Having just reviewed today's statics (even though the March official numbers are not yet available). I thought it was striking that for the 3rd month in a row Active Listings in Cecil County remained right around 840. This is the time of year that we historically see a dramatic increase in the number of homes coming to market to take advantage of the Summer Selling Season. This should help stabilize prices as there will be less inventory for buyers to choose from. For those sellers who have been frustrated, this may show a glimmer of hope for their prospects. For those Sellers who have been sitting on the sidelines waiting for inventory to clear out....It may be time to put that property on the Market. Just a word of Warning.....Don't OVERPRICE! If you want to just "Give it a Try" at some high price....Do Yourself a Favor and wait till the market turns again....Then Try.....Not Now.....



 



Cecil County MD Real Estate Statistics offered by the Bay Property Team



 



 



Steve Hubbell, Realtor®  - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381





April 5, 2011



Chesapeake Inn Wine Expo



Sunday April 10, 2011 12-5 pm



This looks like a great way to spend a Sunday afternoon on the Water in Chesapeake City. There are 50 different wines from around the world that will be available for unlimited tasting. They will also be hor d'oeuvres passed by the staff. Prices are $25.00 in advance and $30.00 at the door. Come down and visit the shops and enjoy the Chesapeake City Lifestyle!



 



 Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)





April 6, 2011



3 Ashmed Ct Elkton MD Home for Sale



Kensington Courts Neighborhood



Open House Sunday April 10, 2011 from 1-4 pm



This Well-kept Cape Cod in Elkton MD  in the Kensingston Courts Neighborhood on almost a half-acre lot and features 4 bedrooms and  2 full baths, The home also has a front porch and full rear deck as well as an unfinished basement. There is a storage shed and the driveway has been paved. . The present owners have done some recent painting and installed some newer carpeting. Gas heat, Central air, All appliances, 1-yr Buyer Warranty



3 Ashmed Ct Elkton MD Home for Sale

More Details, Pictures, and MLS Access



Kensington Courts is a neighborhood conviently located in Elkton MD  just South of  Rt 40 and is a convenient commute to Deleware and  Aberdeen Proving Ground, just minutes away from entertainment, restraunts, shopping, parks and medical facilities. The neighborhood features just over 285 traditional homes with one and two levels, ranging from  the high $100,000's and up.



 



Search All Elktom MD MLS Homes for Sale



 



Bill Standiford, Realtor - Your Cecil County Real Estate Expert - specializing in Residential Re-sale and I especially enjoy assisting Sellers who have had unsuccessful selling experiences, in Elkton, Chesapeake City, Earleville, Cecilton, North East, Charlestown, Perryville, Port Deposit, Galena, Kennedyville, Harford County and surrounding areas.443-553-6726





April 8, 2011



 FHA Changes in MIP - Effective 4-18-2011



Rick Brockell with Wells Fargo Home Mortgage, just sent us an e-mail with an example of the changes going into effect on April 18th with FHA Mortgage Insurance Premimums. This will effect the Cecil County Real Estate Market just based on the simple fact is that while rates are still low, to use FHA will cost prospective buyers more and thus will not be able to afford as much home. Don't wait too long for rates are bound to go up, you may get priced out of the market! If you need more information don't hesitate to call Rick at 410.620.0531



The information Rick sent in his e-mail follows......



All annual MIP factors are increased by 25bps


Annual MIP is being increased from 90BPS to 115BPS (<5% to 3.5% down payment)


Annual MIP is being increased from 85BPS to 110BPS (=>5% down payment)


NO Changes in upfront MIP (still 1%)


 


Example:





























































 

Current

Proposed

Using 3.5% Down Payment

Sales Price

200,000

200,000

Base Loan

193,000

193,000

Total Loan Calculation

Base Loan

193,000

193,000

Upfront MIP

1,930

1,930

Total Loan Amount

194,930

194,930


Payment Calculation

(Using 5% Interest Rate)



 

Prin & Int

1,046.43

1,046.43

MIP

146.19

186.80

Total P&I/MIP

1,191.18

1,233.23


 


Summary:


Requires slightly more income to qualify


Also affects 15 year notes (25BPS on <90 LTV, 50BPS on >90LTV)


Still requires a 500 FICO score


Rick Brockell


 


 




Susan Hubbell REALTOR® - of the The "Bay Property Team", Selling Cecil County Waterfront  - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381 (Equal Housing Opportunity (O)-1-(410)-398-9000)





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