ARCHITECTURAL FIND

GREAT TIME TO BUY BECAUSE............

Report: Baltimore-area home prices down nearly 9%

Home prices in the Baltimore metro area are down nearly 9 percent compared with a year ago, according to new figures from real estate data firm Clear Capital.

The company, which tracked prices in the four months ending in May, uses a repeat-sale index that tries to get at the true change in home value without the skewing that can come when comparing all homes sold in one period vs. all those that sold in another.

Clear Capital says the metro area saw the same nearly 9 percent drop when comparing February-May with the previous three months, one of the largest declines among big regions. Five other metro areas saw larger drops, including No. 1 Detroit, down 13 percent.

The federally powered Washington region was one of the few to see a gain over the quarter and also over the year. 

Alex Villacorta, director of research and analytics for Clear Capital, thinks it's pretty clear why the Baltimore area is on the company's "lowest performing major markets" list.

The metro area's share of bank-owned sales, though still below the nation's, is at record levels even as the national percentage has dropped, he said.

Just over 25 percent of the Baltimore area's home sales were REO homes during the February through May period, Clear Capital says. Villacorta said that share rose rapidly during the earlier part of the bust, peaked at 20 percent in early 2009 and had been receding as the homebuyer tax credit brought more people into the market -- some of whom bought non-foreclosures. 

"We are now reaching a new high in terms of this saturation rate for the Baltimore metro area," he said. "Correspondingly, we are seeing prices hit a new low in the Baltimore area, effectively since the downturn began. One of the biggest drops has been over the most recent rolling quarter, which corresponds with the sharp uptick [in] the sale of distressed homes."

ANNAPOLIS HOME SALES UP 29 %

From the Annapolis Capital:

"County home sales rose 29.6 percent in January over the same month a year earlier, rising from 233 in 2010 to 302 last month, according to numbers released this week by the Metropolitan Regional Information Systems listing service.

In the Annapolis area, new home sales were up 15 percent, but the number of new contracts increased by 70 percent from the previous year. While the median price dropped as much as 70 percent in some areas, other neighborhoods saw an increase 27.1 percent."

• The average estimated value of a home in the State of Maryland is $264,820
• The average estimated value of a home in the City of Annapolis is $542,786 (this is up 0.13% from March 2009)
• In JUNE 2009, the average sales price of a home in the State of Maryland is $273,945
• In JUNE 2009, the average sales price of a home in the City of Annapolis is $803,349 (up 0.56% from March 2009)

Annapolis, Maryland: The capital of the great state of Maryland situated on the beautiful Chesapeake Bay and, in addition to countless museums, theaters, and other attractions, is home to the famed United States Naval Academy. What many people DON’T know, is that it is also a place for great neighborhoods, great locations, and great real estate. 

Rentals

Facebook co-founder and CEO, Mark Zuckerberg, took everyone by surprise when he revealed himself as amonth-to-month renter of a house in the College Terrace neighborhood of Palo Alto, CA. He even let America take a quick tour, allowing Oprah’s camera crew inside his homefor an exclusive look at his modest digs. When the 4-bedroom house he was renting went back on the rental market last month, it became a rather hot topic as to what the billionaire’s next real estate move would be.

As it turns out, Mr. Zuckerberg isn’t ready to build a massive estate similar to many other tech titans’ homes. He doesn’t even want to be a first-time homebuyer – or leave the neighborhood. According to Gawker, Zuckerberg’s new home is another rental in the College Terrace area just seven blocks awayfrom his old house. So, why make the half-mile move? For starters, Zuckerberg did pick a slightly larger home compared to his last residence. Built in 2002, the new house boasts 3,800 sq ft and has 5 bedrooms and 4 bathrooms. His previous residence was only 1,976 sq ft with 4 bedrooms and 3 bathrooms. But what really seemed to stem the move is the location. Now, Zuckerberg resides only a few steps away from Facebook Headquarters (see map below). This surely comes in handy since he reportedly spends upwards of 16 hours a day at the office.

One question: Is that a Craftsman?

OK two: Is that his car?

OK three: Why haven't you added me on facebook yet? Is it the picture?

ART DECO STYLE

"The City of Greenbelt has gone into the history books as the first community in the United States built as a federal venture in housing. From the beginning it was designed as a complete city, with businesses, schools, roads and facilities for recreation and town government."

"The architecture was streamlined in the Art Deco style popular at that time—with curving lines, glass brick inserts in the facades of apartment buildings, and buttresses along the front wall of the elementary school. These buttresses create vertical lines framing a set of bas reliefs by WPA sculptor Lenore Thomas. (These features make the original buildings of the city some of the finest examples of Art Deco to be found in the Washington area."

Ever dream of being an Astronaut? 
NASA is also in Greenbelt, MD

Project Location by Lessard Group

Greenbelt, Maryland

Greenbelt Metro Park integrates a 1.2 million square foot shopping mall, 1 million square feet of office space, 1,000 residences and 3,000 parking spaces with an existing Metro Rail station. The design creates a transit hub in this bustling urban center of the Metropolitan D.C. area. Each element of the site is carefully positioned to maximize the efficiency of the existing infrastructure, and preserve the wetlands and green spaces. A parking garage is situated above the Metro Rail with access to the outward-oriented mall. Commercial space is located on ground level in several mid-rise buildings along the perimeter of three plazas placed on the Metro line.

Still looking for a home?

Zsa Zsa Gabor's Estate To Hit The Real Estate Market

(CNS) Posted Tuesday January 25, 2011 – 5:49pm

Zsa Zsa Gabor's mounting medical bills and the staggering monthly costs of upkeep on her sprawling estate were the driving factors behind the decision to put the property on the market, the actress' husband said today.

Prince Frederic von Anhalt gave reporters a tour of the 28-room, 12,000-square-foot mansion, and explained that he had no choice but to put the home up for sale, with an asking price of $28 million.

"That's it. This house goes," he said. "I am sick and tired of hiding behind those three words, 'rich and famous'. Maybe we are famous, but we are not rich."

Von Anhalt said Gabor's medical care costs about $21,000 a month, while payments for debt on the home and upkeep are another $35,000.

"We are talking about $56,000 I have to raise every month," he said.

"This is why I have to sell the house. It is a must."

The sale will come with one big condition -- the 93-year-old Gabor and von Anhalt will remain living at the estate free of charge.

"The new owner has to pay for everything," von Anhalt said.

Gabor has been in failing health for the past year, and recently had part of her right leg amputated due to poor circulation and a large ulcerated area.

The estate was built by famed aviator/businessman Howard Hughes, and it was previously owned by Elvis Presley, who sold it to Gabor.

Von Anhalt said he was confident somebody would purchase the home.

For more images of the home click here.