Long & Foster reports Oct. home sales of $2 billion
Long & Foster Cos. reported total sales for October of $2.9 billion and home sales of $2 billion, the best October in the company's 34-year history. Long & Foster reported that its real estate sales have been up consistently in the first 10 months and are up 24 percent for the year to date from last year's record levels.
"Today's phenomenally low mortgage interest rates, which have hit 40-year lows, have been the fuel propelling the hottest housing market on record," said Wes Foster, head of the company. "I expect rates will not rise sharply any time soon."
The numbers include: Long & Foster Real Estate Inc. with October sales of $2.0 billion, up 33 percent on 8,209 property transactions; Prosperity Mortgage, the firm's mortgage affiliate, which reported $302 million in volume of business, an increase of 12 percent over the previous year's October figures; and Long & Foster Insurance, $213 million, up 13 percent. Strong numbers were also posted by company affiliate Mid-States Title: $386 million for the month, up 80 percent from the previous October.
All of Long & Foster's 10 regions posted increases for October. They were: Virginia-West Virginia (36 offices), up 36 percent to $601 million; Baltimore/Southern Pennsylvania (46 offices), up 31 percent to $395 million; Washington (seven offices), up 20 percent to $134 million; Suburban Maryland (18 offices), up 32 percent to $319 million; Western Maryland (four offices), up 2 percent to $43 million; the Eastern Shore (11 offices), up 15 percent to $74 million; Hampton Roads, Va. (11 offices), up 18 percent to $68 million; Richmond, Va. (20 offices), up 15 percent to $152 million; Southern Maryland (12 offices), up 63 percent to $123 million; and Delaware Valley (seven offices), up 1,429 percent to $42 million. Long & Foster's licensee, Webber & Associates in Winchester, Va., was up 72 percent to $5.2 million.
The top sales offices in the Baltimore region for October were: Annapolis ($31 million); Howard County at Waverly Woods ($28 million); and Columbia ($26 million).
Habitat to dedicate Montpelier St. house
Construction of a Habitat for Humanity house backed by a grant from Sodexho Foundation is nearing completion on Montpelier Street in Baltimore. The house will be dedicated at noon Tuesday.
Habitat for Humanity received a $100,000 grant from the foundation in March.
The home in Baltimore will be sold at cost to a low-income family through one of Habitat for Humanity's no-profit, zero-interest mortgages.
Habitat for Humanity International is an ecumenical Christian ministry dedicated to eliminating housing poverty.
Sodexho Foundation was founded in 1999 with the mission of being "a driving creative force that contributes to a hunger-free nation."
Maryland Landmark Homes opens model
Maryland Landmark Homes has opened a decorated model home at Quiet Valley at Cameron Mill in the Parkton area of Baltimore County.
The development features 28 custom-built homes on 2-acre lots.
The Chase Alexander II model, a Georgian colonial, includes a three-car garage and 4,500 finished square feet. The first floor features 9-foot ceilings, a two-story foyer with oak staircase, a gourmet kitchen and a living room and library, among other features.
The base price is $539,000, and the sales model as shown is priced at $769,900.
To reach Quiet Valley, take Interstate 83 north to Exit 33; turn left on York Road and then left on Stablers Church Road. Quiet Valley is 2 1/2 miles on the left.
Grayson Homes wins quality award
The National Association of Home Builders Research Center has awarded Grayson Homes of Ellicott City an honorable mention award for commitment to quality.
Cynthia McAuliffe, president of Grayson Homes, said, "Grayson Homes is very proud of this award. Our compelling vision for our company is to provide our customers with the highest quality total customer experience, maintaining a customer satisfaction rating of 95 percent throughout the process. Our mission statement was crafted by our management as well as our staff. It hangs in each office throughout our company, including sales and construction sites."
Industry honors
Gary Bockelmann,
a sales associate with the Westminster office of Coldwell Banker Residential Brokerage, was inducted as the 2003 president of the Carroll County Association of Realtors recently.
Bockelmann, a 10-year real estate veteran, is a member of the National Association of Realtors and the Maryland Association of Realtors. He was the 2002 Carroll association vice president and the 2001 treasurer. He currently chairs the CCAR Brokers Round Table, and has served on the CCAR affordable housing committee, as well as the finance committee. The Westminster resident holds the Graduate Realtor Institute accredited buyer representation and certified residential specialist professional designations.
While his specialty is commercial real estate, Bockelmann also works with his wife, Gwenn, an 18-year real estate veteran, in selling residential real estate. Before entering real estate, Bockelmann was a lieutenant with the Maryland State Police.