The Montgomery County Maryland Planning Board recently established a development moratorium for three school clusters: Bethesda-Chevy Chase, Clarksburg and Seneca Valley. After receiving the results of the annual school test - which compares projected student enrollment against projected classroom capacity - the Planning Board yesterday established the development moratorium.
The 2009 school test results show that number of students expected in 2014 in certain clusters would exceed a 120 percent cap specified in 2007. The moratorium limits residential subdivision approvals in overcrowded clusters in an effort to ensure that students generated by newly approved housing units do not exceed the remaining school capacity for students at any grade level. Starting July 1, the Board will not approve residential subdivisions in those three areas unless they are communities for retirees or subdivisions of three or fewer units.
The school test also forecasts overcrowding in 2014 by more than 105 percent in nine school clusters. For those clusters - Walter Johnson, Northwest, Northwood, Paint Branch, Quince Orchard, Rockville, Wheaton, Whitman and Richard Montgomery - developers wishing to get subdivision approval would be required to pay a school facility fee.
Given that the school test is conducted annually, the moratorium is likely to be in place for the next fiscal year. To move out of moratorium, the cluster would need to show a projected drop in enrollment or a projected increase in capacity. Enrollment figures come from school data and projected birth rates. Capacity can increase through the county's Capital Improvements Program (CIP), which funds public projects like school expansion.
Montgomery County planners approved a 457-unit apartment building in Woodmont Triangle days before a moratorium on residential development takes effect. The 457 unit apartment building is being developed by the Donahue Development Company.
The project, Woodmont Central, was originally scheduled to go before the planning board in July, after the county's moratorium on residential developments started July 1. The residential component of Donohoe's project is actually part of the second and third phases of development, so its construction would likely begin after the ban, if it is lifted next July. The first phase of the development is a 91,612-square-foot, six-story retail and office building.
The 18-story, 462,160-square-foot residential and retail component would follow. Sloan said the residential phase was not likely to deliver for another five to six years.
At the time the moratorium was set, Donohoe President Peter Gartland said his project would likely make it before the board in advance of the moratorium, adding that the county's 2009-2011 growth policy conflicted with the development ban.
"The future of the county is in its walkable, transit-oriented areas," Gartland said, echoing the growth policy's findings that Montgomery County should focus on infill and transit-oriented, mixed-use developments. "We have faith the county will solve this problem because urban areas like Bethesda are where new development should be channeled," he said.
The board approved the project with a 3-2 vote but with several conditions. The project must achieve a Silver LEED rating and the developer must adjust height limitations, building setbacks, public space and retail frontage.
Every once in a while you come across something online that is pretty crazy. Well - I guess this week, it's my turn to find crazy. There exists a Realtor in Florida who is not only trying to sell her home, but is trying to sell herself.
YES - you heard me right!
This single mother of two's name is Deven Traboscia from Palm Beach, FL and though I it is not something I would do, I think it's brilliant. In a google search I found 3 Local News stories on her and about 5 blog posts - mine will be six. Anyway, she has received more buzz than a skunk at a lawn party. It's amazing how people have reacted and interesting how vicious some of us can be.
In any event, I'm not sure any of my office's listing will be marketed this way, but I do believe that creativity should be rewarded and not slammed, even if it's not what we would do.
About a month ago I taped this conversation with Short Sales expert Harry Yazbeck. He's a very smart guy with a lot of really good information. His whole purpose is to educate agentson the craziness of the process as well as manage a team of people who help CB agents manage their short sales.
He gives a nice insight into the hell that is the short sale and I hope you find interesting...
Richard Smith, the C.E.O. of Realogy Corp. (the parent company of my parent company), released a statement this morning that I really wanted to share. Here is what he had to say...
I am writing to let you know of a positive development for the real estate industry that was announced earlier today by the Business Roundtable, an association of chief executive officers of leading U.S. corporations. Specifically, the Business Roundtable’s Housing Working Group – of which I am the chair – issued a set of recommendations for the White House and Congress that are aimed at jumpstarting the housing market in order to stimulate a broader economic recovery.
The Business Roundtable’s recommendations are as follows:
· Keep mortgage interest rates at historically low levels (below 5 percent) for at least one year;
· Expand the current First-Time Homebuyer Tax Credit incentive from the lesser of 10 percent of the purchase price of the home or $8,000 to a higher limit of either 10 percent or $15,000 for all homebuyers, remove the income restrictions and include all primary residence purchases for one full year;
· Conduct a thorough review of current foreclosure mitigation and loan-modification programs in light of rising loan-modification re-default rates;
· Make permanent the current temporary conforming loan limits; and
· Continue to review and strengthen government efforts already underway to review and refine mortgage lending practices.
We believe targeted, demand-side solutions – such as the ones Business Roundtable is recommending today – will provide a critical next step for a housing recovery that will help create jobs and boost the economy as a whole.
Please understand that the legislative process is often a long and winding road that is hard to predict, but at some point in the future, we expect to call on you to make your voices heard in support of any new legislation in Congress that would advance these recommendations. We will communicate with you as these legislative opportunities occur – but for now, just know that we appreciate your support.
There are times I feel somewhat overtaken by an event where I am surrounded by people who are not only smart and accomplished, but people I can sit in a room with and say, my god these people really "get it".
You know the types; the kind of people who - through their unique set of experiences, and skill are redefining an industry from where it has been into a future that we are just now discovering together.
Well, after experiencing my first RE BarCamp this last week in Philadelphia, I can say without doubt that the future is bright, and the people leading us there are not only qualified, but inspiring.
Now for those of you have not experienced a Bar Camp let me give you the official meaning from those who created it: RE Bar Camp is an ad-hoc gathering born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos, and interaction from attendees.
Now that is the official version. What it is really is a mind blowing, high octane 24 hour sprint of people just like you! It is not about being a techie, or a kid, or being sold services or toys that cost money. NO - RE BarCamp is a free event that represents the philosophy of the change we all want to be a part of and having the realization in knowing you are not alone.
So, if you consider yourself an innovator, or a person who not only believes in but strives to be a Realtor of consequence for the next generation of our industry, then I dare you - go to the next event. Who knows, maybe like me, you'll discover you're not as smart or unique as you thought you were. And in that comes the epiphany.
The Following is the sencond half of the speach given at last weeks NAR panel on social media a dn how it is changing the Real Estate industry. As one of four panelists, my portion was focused on blogging and how it has fundementally turned around my office. As always, if you have any questions just contact me. THANKS and ENJOY!
Four members of NAR's Young Professionals Network Board conducted a panel on how the Real Estate industry is changing because social media, networks, and blogging bring our clients closer to the process than ever before.
In the following clip, you will see Part 1 of my portion of the event. It focuses on how blogging can make a tremendous difference to our profitability.
President Obama at the White House Correspondent's Dinner
Once a year the Press holds a dinner in DC that has one rule: Bring your funny! Here are two clips: one of the President, and the other of Wanda Sykes. Regardless of political affiliation, it is pretty fuuny. Enjoy.
It's not often I am impressed by a simple video on You Tube, but seriously, this is amazing - and even a little scary. It's four minutes long but worth watching. That is, if you're brave enough.
Today, my company held what we dubbed, “The Wake-Up” call - an inspirational / education oriented event focusing our agent population on finishing the remainder of the year from a place of strength and not fear.
Usually I have a hard time at things. I hate to so sit for any long period of time, and having the attention span of a flee, I’m not one that likes 3 hours of anything.
But wouldn’t you know it - I actually bought in to the thing.
Now, don’t get me wrong, I’m not just saying I liked it because it’s my company. If I didn’t like I would of written about something else!
But like the cool-aid drinking fool I am I thought the speakers were awesome and I wanted to share just a couple of the points they shared with us:
1. If you are selling yourself short - STOP. If there has ever been a time to get your full value now is the time. Let others sell their souls out of desperation. You get your full fee for your full service! 2. Short Sales / Foreclosures represent 50% of all sales nationally. Not knowing the process is not an excuse to not an excuse for not knowing what you’re doing. Find a person who knows the process and learn from them. Knowing the pitfalls and preparing your client for the process is vital as preparing yourself. 3. Diversify your skill set - don’t just do one thing to get business. If you do business by referral supplement it by doing expireds.
Anyway - that’s it for now. There will be more to come...
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
