Monthly Archives: May 2009

Long & Foster Companies Ranked #1 Privately-Owned Residential Real Estate Company

Chantilly, Va. May 19, 2009 –The Long & Foster® Companies announced today that it was ranked as the No. 1 privately-owned residential real estate brokerage firm in the United States in the REAL Trends 500 Survey of the 500 mega-brokers in the U.S for residential sales transactions in 2008. Long & Foster was also named by REAL Trends in their REAL Trends 25 research report which lists the 25 largest housing services firms in the United States selected from a survey of over 800 leading residential brokerage firms reporting at least one settlement service in addition to brokerage — Long & Foster had 48,890.

Long & Foster retained its top spot as the largest privately-owned real estate company in the United States on The REAL Trends 500, the survey of the largest residential real estate brokerage firms for closed transaction sides. REAL Trends is a leading publisher of trends and analysis on the residential brokerage industry. In 2008, Long & Foster recorded $48.9 billion in closed sales volume and 72,302 closed transaction sides.*

The top five privately-owned brokers on the REAL Trends Broker List, all based on closed transactions sides and settlement services are: Long & Foster, Fairfax, VA.; Hanna Holdings, Inc.; Pittsburgh, PA; Prudential Fox & Roach Realtors, Devon, PA.; Crye-Leike Realtors, Memphis, TN; and Allen Tate Company, Charlotte, NC. Of all types of real estate companies nationwide — conglomerates, franchisers, and privately-owned — Long & Foster ranked third nationwide.

*Transaction Sides: Every real estate transaction involves both a “buy” side and a “sell” side. Brokerage companies like Long & Foster may receive commissions from their representation of either one-or both-sides of a transaction.

The Creig Northrop Team is proud to be affiliated with such an outstanding real estate company.

Start your real estate search now!

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Casting Call: My First Home on TLC

Do you watch HGTV, TLC, and any other shows that document home purchase, home repair, organization, etc? TLC is casting for their show ‘MY FIRST HOME’ which is entering its 4th season of production and would like to find a story in Maryland.

“MY FIRST HOME is a half-hour series for TLC that will focus on the joys and terrors of first-time home buyers as they undertake the most important purchase of their lives. We will also meet the realtor who guides them through each step as they search and find their new home. We will cover the bidding, escrow and closing processes. The show will combine the basic facts of home buying with the emotional journey of the buyers.”Production will involve 2-3 shooting days. We are looking for home buyers who will be closing escrow on their new homes from July 24 to mid-October.  If you are interested in participating in this show, please contact us with story ideas, including a little background on the person or couple buying a home and when they will be closing escrow.” (Monica English for My First Home)

If you or anyone you know fit this bill (first time buyer, ready to close and would possibly be interested in sharing their home purchase experience with a camera crew and eventually TLC viewers,  please contact Laura Reese, Marketing Manager for The Creig Northrop Team at 410.884.8362 or contact us.

What they are looking for is energetic, personable first time home buyers.  They are trying to find a story of someone who closed on a home with architectural requirements, but that is by no means a make-or-break requirement.

Not only will they receive excellent service from The Creig Northrop Team, this could be incredibly fun and memorable!

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Can buyers use the $8,000 tax credit for down payments?

It was first announced at the National Association of Realtors Mid Year convention in Washington DC last week that the US Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) were quickly releasing guidelines to monetize the $8,000 tax credit for first time home buyers, so that buyers would be able to use the tax credit as a down payment for the purchase of their new home. Shortly after that announcement HUD has revised their position and is still reviewing the option of monetizing the tax credit because of a concern that the monetization program could resemble an illegal practice of seller-funded down payments. The IRS has also mentioned that there are potential tax concerns as well.

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Five Cities in Montgomery County Rank Among “America’s Top 25 Towns to Live Well”

Forbes Magazine evaluated towns on quality of life, business environment and labor force

#8 – Rockville, MD

Population: 54,274

Location: Another northeast Washington, D.C., suburb, Rockville is 25 miles from Capitol Hill.

Median income: $88,759

Strongest categories: Its per capita venture capital investment of $3,130 is the highest of any town outside California, which isn’t surprising when you consider that the 0.0018 patents per capita ranking places it firmly in the top five by that measure.

#13 – North Potomac, MD

Population: 29,909

Location: A northwest D.C., suburb, North Potomac is slightly farther out than more familiar suburbs like

Chevy Chase and Bethesda.

Median income: $142,455

Strongest categories: North Potomac differs from Potomac because it has a slightly higher share of people with a bachelor’s degree or higher and of BLS-defined highly skilled workers, which represent 70% of the labor pool.

#17 – Germantown, MD

Population: 61,606

Location: A northwest suburb of Washington, D.C.

Median income: $78,164

Strongest categories:Germantown performs very well in our venture capital ranking, hauling in $2,110 per person. Its bucolic nature does well to attract highly skilled professionals, including those from other countries (who make up 10% of the labor force).

#20 – Silver Spring, MD

Population: 77,805

Location: An immediate D.C., suburb, Silver Spring is the last stop on the D.C., red subway line.

Median income: $63,329

Strongest categories:BLS-defined highly skilled workers with backgrounds in technology, mathematics or engineering make up 23% of the labor force, and they often filter through well performing start-ups, which garnish $2,712 venture capital dollars per capita, one of the highest rates on our list.

#23 – Potomac, MD

Population: 45,993

Location: A northwest D.C., suburb, Potomac is slightly farther out than more familiar ‘burbs like Chevy Chase and Bethesda.

Median income: $170,029

Strongest categories: Potomac’s got a highly educated, albeit older, workforce: 67% of those in the labor pool qualify as white collar, professional workers based on the Bureau of Labor Statistics definitions. This places them in the top 10 by that measure.

To evaluate each town – defined as every city, town, borough or Census-designated-place under 100,000 people – Forbes  looked at the following factors:  median income; average commute; distance to highways and airports; per capita venture capital funding; per capita number of small businesses; sole-proprietorships and start-ups; the percentage of the population with bachelor’s degrees or higher; the share of BLS-defined professional-level workers; the percentage of young and educated people, or those ages 25-34 with a bachelor’s degree or higher; the percentage of foreign-born residents with a bachelor’s degree or higher; and the number of restaurants, bars, museums and cultural institutions per capita. Data was provided by ZoomProspector.com, a San Francisco-based consulting firm specializing in corporate relocation.

To read the article in its entirety, visit click here.

Start your home search.

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Columbia ranks 7th among “America’s Top 25 Towns to Live Well”

Forbes Magazine evaluated towns on quality of life, business environment and labor force

Columbia, Maryland has been named seventh among “America’s Top 25 Towns to Live Well”, as determined by Forbes Magazine. Columbia ranked high among quality of life factors, such as schools, restaurants and access to music venues. Forbes also noted that venture capital comes to $594 per capita and Bureau of Labor Statistics (BLS)–defined professionals account for 27% of the labor force, the fourth highest of towns measured.

To evaluate each town – defined as every city, town, borough or Census-designated-place under 100,000 people – Forbes  looked at the following factors:  median income; average commute; distance to highways and airports; per capita venture capital funding; per capita number of small businesses; sole-proprietorships and start-ups; the percentage of the population with bachelor’s degrees or higher; the share of BLS-defined professional-level workers; the percentage of young and educated people, or those ages 25-34 with a bachelor’s degree or higher; the percentage of foreign-born residents with a bachelor’s degree or higher; and the number of restaurants, bars, museums and cultural institutions per capita. Data was provided by ZoomProspector.com, a San Francisco-based consulting firm specializing in corporate relocation.

To read the article in its entirety, visit click here.

Start your home search.

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Competing offers make a come back!

While the news media may continue to describe a dismal picture for the real estate market at a national level, the Maryland Real Estate market seems to be heating up. According to Full Time Sales Agent, Stephanie Bowen, she is not only seeing an uptick in buyer activity but also competing offers on properties too.

The market has really started to take off this spring! Not only are my listings receiving multiple offers, properties that my buyers are writing on are receiving multiple offers from other buyers, too! I’ve also noticed in some areas of Baltimore County there is less inventory to choose from, which makes competing offers even more prevalent. Buyers have really identified that this is a great time to buy with home prices being low and with all the exciting incentives out there including the First Time Home Buyer’s tax credit of up to $8,000.

This certainly isn’t the first story that involves multiple offers, and hopefully it won’t be the last!

Start your real estate search now.

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FREE Real Estate Seminar Tomorrow!

Whose Market is it? It’s YOUR Market!

If you are a First-Time Homebuyer, or ready to “Move-Up” to your next home, this is YOUR time to take advantage of the incredible values and tax breaks available in the real estate market The Northrop Team Cordially Invites You to These Upcoming Homebuyer Seminars.

Wish you knew what homes are selling for in your neighborhood or how long they are on the market? Interested in what buyers ask for prior to writing an offer? Want to know the average list price to sales price ratio? Not sure if you have enough equity in your current home to purchase your next home? Ask any questions you have about your individual real estate goals, and get REAL answers.

We’ll even prepare a short market analysis of your home ahead of time to help identify the value of your home if you were to list it for sale today.* We don’t want you to look back 5 years from now and say, I wish I had…¬So whether you are ready to buy your first home – or your next home – this is a phenomenal opportunity you absolutely don’t want to miss!

Date: Saturday, May 2nd

Time: 10:00am to 12:00pm

Location: Victoria’s Gastro Pub, 8201 Snowden River Parkway, Columbia, MD 21045

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