Monthly Archives: June 2012

Traffic Halted On Chesapeake Bay Bridge While Ship Passed Underneath

Traffic was halted on the Chesapeake Bay Bridge on Wednesday, June 20th 2012 while the Zhen Hua snuck under the bridge. According to reports, the ship laden with four massive cranes, had about 10 feet of clearance as it passed under the Chesapeake Bay Bridge and only about four feet of clearance as it passed under the Francis Scott Key Bridge on it’s way to the Port of Baltimore.

There were no guarantees that the ship with it massive cargo of cranes was going to pass safely below the bridge. Calculated to within a narrow tolerance, if the ship had struck the Bay Bridge, it would have created significant problems for shipping and commuters alike. The channel under the center span of the bridge is used by commercial shipping and recreational boaters alike year round. The Bridge is also the gateway to the Eastern Shore and the Atlantic Coast. Summer months see increases in traffic starting on Thursday or Friday as Washingtonians flee the city in search of surf, sand and sun at Delaware and Maryland beaches. Ocean City and Rehoboth Beach are popular destinations for Washington and Baltimore area residents, as well as, folks from Virginia.

A collision between ship and bridge would have put many summer plans on hold and disrupted daily commuters travelling to and from the Eastern Shore to points West. After the Zhen Hua safely passed under the Chesapeake Bay Bridge without incident, normal traffic patters resumed with a sigh of relief.

What Are Waterfront Homes Selling For In Annapolis Maryland – June 2012

What are waterfront homes selling for in Annapolis Maryland? In the last ninety days twenty-eight single family waterfront properties in Annapolis Maryland sold and settled. They ranged from $350,000 humble abodes to $5,450,000 palatial mansions. There were 110 waterfront residences for sale along the Chesapeake Bay, the Magothy River, the Severn River, Back Creek, Spa Creek, and the South River.

In the last 90 days there were 28 waterfront single family homes sold in Annapolis Maryland. The average list price was $1,902,773 and they were on the market for 214 days. The average sold price for detached waterfront homes in Annapolis Maryland during the period was $1,306,539 for an 83.53% sold-to-list ratio off the original list price. The average home sold had four bedrooms and four full baths. The seller subsidy paid was $2,229. Seller subsidies typically further reduce the net proceeds paid to the seller by that amount and are usually paid at the time of closing.

In contrast, there were 90 detached waterfront homes sold in Arundel County Maryland in the last 90 days. The average list price was $951,745 and they were on the market for 231 days. The average sold price for waterfront homes in Anne Arundel County during the period was $868,119 for an 84.93% sold-to-list ratio off the original list price.

With about 9 waterfront estates in Annapolis selling each month, there is a little more than an 11.8 month inventory of waterfront houses for sale in Annapolis Maryland. There are slightly more homes for sale in Anne Arundel County with a little more than 12.6 months of inventory. When months of inventory is less than six months, this is generally considered a “seller’s market”. When months of inventory is more than six months, this is generally considered a “buyer’s market”. Current conditions suggest that it is a “buyer’s market” for Annapolis Maryland waterfront residences.

Search all Annapolis Maryland waterfront homes for sale.

Data was collected data on June 16, 2012. Information believed to be accurate, but should not be relied upon without verification, is made available “As Is” and subject to revision at any time without notice. Waterfront homes in Annapolis Maryland are selling.

June 2012 Baltimore Maryland Metro Region (including Annapolis and Anne Arundel County) MarketWatch

The June 2012 Baltimore Maryland Metro Region (including Annapolis and Anne Arundel County) MarketWatch is now available.

Realestate Business Intelligence (“RBI”) produces a monthly video covering local real estate market conditions. The one below is for the Balitmore Maryland metro region, which includes Annapolis and Anne Arundel County for June 2012. The video is about three minutes long and reviews the real estate market statistics for our region.

Real estate trends can be very local, one subdivision or neigborhood trending up in price while another one is trending down in price, and the very next month it could flip-flop.

When selling a home, knowing the current trends that might affect the sale of you home is critical information to proper price positioning. Without knowing the trends, you could easily overprice your home and scare buyers away or underprice your home and give it away. Either way, you’ll miss the market and possibly loose money along the way.

When buying a home, knowing which way home prices are trending offers critical guidance so that you don’t over pay for your next home. While “timing the market” is very difficult, knowing the current real estate trends will help you know just where a home fits into todays market.

Related MarketWatch Posts

May 2012 Baltimore Maryland Metro Region (including Annapolis and Anne Arundel County) MarketWatch

What Are Homes Selling For In Annapolis Maryland – June 2012

Do you want to know what Annapolis Maryland homes are selling for? Has the real estate market stabilized in Annapolis Maryland? How do listing prices compare with sold prices? How many homes have sold in the last 90 days in Annapolis Maryland? How many homes are on the market or under contract?

There are 666 Annapolis homes for sale today. The average asking price is $747,941 and they have been on the market an average of 169 days. The minimum asking price for Annapolis homes is $54,900 and a maximum asking price of $12,500,000.

The chart (below) tracks “New Pendings” for Annapolis Maryland and shows the number of contracts ratified each month and is the best indication of the direction of the market.

There are 271 Annapolis homes under contract today. The average asking price is $525,542 and they were on the market an average of 121 days. The minimum asking price for Annapolis homes under contract is $90,000 and a maximum asking price of $6,495,000.

In the last 90 days there were 315 homes sold in Annapolis Maryland. The average list price was $477,268 and they were on the market for an average of 129 days. The minimum list price for sold listings was $113,000 and a maximum list price of $5,450,000.

The average sold price for Annapolis Maryland homes sold was $451,554 for a 94.6% sold-to-list ratio off their original list price. The minimum sold price was $100,000 and a maximum sold price of $4,850,000.

With about 105 Annapolis properties selling each of the last three months, there is slightly more than a 6.3 month inventory of homes for sale. This remains a remarkable time for highly qualified buyers to consider purchasing their first home in Annapolis Maryland or an additional property. When the real estate market has less than a six month supply, it is generally considered a “seller’s market”; where there is more than six month supply of homes for sale, it is generally considered a “buyer’s market”.

The chart (below) tracks “Average Sale Price” and shows the monthly average price at which homes are selling in Annapolis Maryland.

The chart (below) tracks “Average Days On Market” and is good indication as to whether this is a “buyer’s market” or a “seller’s market”.

The chart (below) tracks “Average Sold to OLP Ratio” and shows discount at which Annapolis Maryland homes are selling for as a percentage of their original listing prices.

While all of these indicators are important, the best way to determine the value of your Annapolis Maryland home is a thorough competitive market analysis, often referred to as a CMA. If you are interested, please contact me for a no obligation market analysis of your home’s value in today’s real estate market.

Statistical data as of June 13, 2012. The charts included track one or more leading market indicators and are updated on or about the 10th of every month. The information included is believed to be accurate, but should not be relied upon without verification, is made available “As Is” and subject to revision at any time without notice. Start searching today among the Annapolis Maryland homes for sale for your perfect place to live.

2012 Bermuda Ocean Race Underway From Annapolis Maryland

The 2012 Annapolis Maryland to Bermuda Ocean Race is underway. Starting yesterday from Annapolis, participants in this year’s race should have a three-to-six day sail down the Chesapeake Bay, out into the Atlantic Ocean, across the Gulf Stream and onto the island of Bermuda located about 640 miles to the east-southeast of Cape Hatteras, North Carolina.

The lead boat mostly likely is past the point of no return on its way to Bermuda and is expected to arrive by evening tomorrow afternoon. The rest of the fleet is entering, in or just coming out of the Gulf Stream. You can see the distribution of the fleet on the chart below in the early morning of the second day of the race.

Technology has changed dramatically over the years. Bermuda Ocean Racers now have satellite cellphone communication instead of single-side band radios – although many open ocean racers and cruisers alike still carry operational SSB radios. Today, arm-chair sailors, family, friends and race enthusiasts can track the progress of the fleet to Bermuda obtained from on-board telemetry data showing nearly real-time positions. Technology like this didn’t exist when Admiral Sir George Somers KT ran his ship aground after it’s believed that he fought a hurricane in 1609 in which his ship leaked badly and nearly floundered. After establishing the Bermuda Colony, he went on to Jamestown, then returned only to die in 1610 on the Island. They say his heart is buried on the island – there’s a marker to commemorate the event and location.

Blue water sailing in the Atlantic Ocean is a phenomenal experience no matter whether you’re racing in an organized event such as the Bermuda Ocean Race, just tagging along following the fleet between international ports of call, or testing your mettle with a single-handed voyage from point A to B. Sailing in the vast briny blue is humbling. You can feel very, very small under the blanket of stars.

Sunset after sunrise, wave after wave, puff after puff of wind, time unwinds before you when you settle in for an ocean passage. Racers push their boats to their limits in all kinds of conditions in hopes of winning the Onion Bowl – the prize awarded to the first boat to cross the finish line.

The end of the journey for the Bermuda Ocean Race is St. George’s Harbor in Bermuda. St. George’s Harbor is a natural harbor protecting ocean racing sailors and their boats, as well as, cruise ship passengers and the mega-vessels they arrive on.

The three photographs included in this post were taken while sailing to Bermuda about this time in 2006. Smooth sailing and fair winds to all that headed out from Annapolis Maryland in the 2012 Bermuda Ocean Race.

Update, June 12, 2012. To wrap up this story about racing in the Bermuda Ocean Race, Sjambok has taken line honors and may have done so in record time.

Owning a Home is Still the American Dream

In the last decade, many homeowners approached real estate as a financial short term investment. That tide has finally turned and buyers are returning to the traditional reasons for purchasing a home.

Well-known psychotherapist, Dr. Robi Ludwig partnered with Coldwell Banker Real Estate to explore the feelings Americans have on the value of the home and homeownership now, compared to before the economic downturn. According to an online survey conducted in April by Harris Interactive for Coldwell Banker^®, the economic downturn has had a distinct effect on the way people view homeownership, but owning a home is still the foundation of the American dream.

The survey found:

A majority of U.S. adults (79%) indicate the recession has caused society to rethink the concept of homeownership.
In fact, 84% of U.S. adults agree more people took owning a home for granted before the recession, and nearly three-quarters (72%) said they feel like Americans have a greater respect for it now than they did before the recession.
75% of U.S. adults agree that due to changes in the housing market and/or economy, there has been an overemphasis on the financial value of a home, rather than the emotional value of a home.

“Instead of looking at homes through the eyes of an economist, we’re realizing that a home doesn’t solely equate to financial return or measure only to a mortgage amount. Instead, the home is the emotional center of our lives, and it remains a critical component of who we are,” said Ludwig.

The survey also found homeownership is still part of the American dream and that the U.S. becoming a “rent-based” society does not appear plausible.

91% of Americans agreed that owning a home is part of the American Dream (93% of homeowners, and 89% of renters).
83% of renters said that they want to own a home someday.

Market conditions, financing, price range and inventory can all play a part in the home buying process. Look to links on the right to see some of this information for the area that most interests you.

If you want to own a home and need more detailed information, contact me today to guide you through the home buying and selling process and the benefits of homeownership.

Survey Methodology:

This survey was conducted by Harris Interactive on behalf of Coldwell Banker Real Estate. All data collection was done online within the United States from April 23-25, 2012 among 2,177 adults ages 18 and older (1,457 homeowners and 666 renters).

Market Action Reports By Counties in Maryland:

Anne Arundel, Baltimore, Baltimore City, Calvert, Caroline, Carroll, Cecil, Culpeper, Dorchester, Frederick, Harford, Howard, Montgomery, Prince Georges, Prince William, Queen Anne, Somerset, Stafford, Sussex, Talbot, Washington, Wicomico, Worcester

Fish The Eastern Bay On The Eastern Shore Of Maryland

It’s time to go fishing on the Eastern Bay on the Eastern Shore of Maryland. But before you go, make sure you have the proper Maryland sport fishing and crabbing license. And if you trailer your boat, you will also need a public landings parking permit for the area you want to fish. The well equipped Sea Fox Walk Around pictured below is loaded with gear and is ready to be fished!

If you are ready to hang out the “gone fishing” sign, what could you fish for on the Chesapeake Bay in June? Recent reports suggest fishermen are catching stripped bass, largemouth bass, channel catfish, white perch and croakers. Don’t forget to consult with the Maryland Department of Natural Resources for the recreational fresh water and tidal regulations so you know before you go what’s in season and what’s not.

While many people trailer their boats to go fishing, popular ramp locations (like the one pictured below) can fill up early and fast. It’s not uncommon to find boaters lined up just after dawn waiting to launch their boats for a day on the water. Holidays and weekends can be especially busy. Alternately boaters can rack store their fish boats at marinas around the Chesapeake Bay where they can call ahead and have their vessel ready to go when they arrive, sometimes all gassed and iced up!

If you’re lucky enough to live on the water on the Eastern Shore, you’re going to walk out the front door of your home and down to your dock, lower your boat that’s been stored high and dry on its lift into the water and head right out from there. Next time you are ready to try your luck consider fishing on the Eastern Bay on the Eastern Shore of Maryland.

Waterfront Homes For Sale With Docks and Boat Lifts In Annapolis Maryland

Living a waterfront lifestyle in Annapolis Maryland on the Chesapeake Bay, South River, Severn River, Back Creek or Spa Creek means having a dock or pier where you can keep you sailboat, power boat, jet sky, canoe, or kayak. The ultimate luxury is to have a home where you can walk out your front door (remember the “water side” of waterfront property is the “front”, not the street side which is considered the “back”) and down to your private pier, lower your vessel into the water and head right out for some fun on the Bay.

The fishing boat (pictured below) is on an electric lift. You can see vertical PVC pipes used as guides to enter the lift when it’s down in the water and cannot be seen from the helm of the boat. The two guides in the immediate foreground are for a jet ski lift (you can see the mechanical white box below the bow of the boat on the lift).

Boat lifts come in various sizes and will support boats of substantial weight. Jet skis, power boats and even sailboats are often stored using hoists and lifts keeping them high and dry. Using a boat lift can eliminate the need for anti-fowling paint (commonly called “bottom paint”) on the vessel. Lifts are almost always electric and easy to operate providing full hull support on two rails. On the other hand, hoists can be manual (using a crank) or electric (with manual backup). An example of a private pier with a boat lift is pictured below. Piers will require electric service to operate a lift. It’s also nice to have fresh water dockside as well.

Don’t waste any more time start your searching for your ideal Annapolis Maryland waterfront home with a dock or pier today. Contact me to tour any waterfront property or waterfront estate listed in the MLS or to setup a personalized search for your new waterfront dream home in Annapolis Maryland.

Live the Lifestyle … Live in Annapolis

Information on Annapolis Maryland Luxury Homes and Waterfront Real Estate