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Paul Gillespie's Blog

By Paul Gillespie | Agent in Harford County, MD
  • Harford County Short Sales

    Posted Under: Home Buying in Harford County, Home Selling in Harford County, Foreclosure in Harford County  |  June 12, 2012 11:04 AM  |  393 views  |  No comments
    I wanted to touch base today on proceedings County Short Sales. The first thing I would like to do is explain what a short sale is.

    Wikepedia explains it as follows...

    A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens' full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.Any unpaid balance owed to the creditors is known as a deficiency.Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.

    Allow me to simplify it a bit. If you owe more on your home then what it will sell for and you have a hardship, you may be able to short sell your home. There are very strict guide lines that define what a hardship is. I will explain that further in another blog. Once you list your home and get a contract that both the buyer and seller agree with, it needs to be submitted to the bank that the current mortgage is held by. They review the offer and conduct various evaluations to determine whether the offer is acceptable to them. So what does this mean to you the purchaser?

    A short sale is considered a distressed property and is usually sold at a deeper discount from market value then a traditional sale. So If you the buyer have patience and flexibility on when you settle, a short sale could be the perfect fit. Most all short sales are sold "as is" so do not expect much to be done to the property after contract. However, every bank is different. Some may be willing to do some repairs.

    There are currently 126 short sales listed in Harford county. There are several areas of Harford County that have short sales available. There are 29 short sales listed in Edgewood MD according to the multiple list. There are 18 short sales listed in Bel Air Md. There are many areas of Harford County that have short sales listed for sale. Some of these areas include but are not limited to Abingdon, Aberdeen, Fallston and Forest Hill to name a few.

    In conclusion, Short sales can be a win win for all parties involved. The buyer gets a good deal, the seller gets out of their house and the bank avoids the expense of foreclosure proceedings. Please contact me for more information about short sales both listing and purchasing them.

    Paul Gillespie - C.D.P.E. - Realtor - Exit Preferred Realty. Helping families find houses for them to call home! I work in Harford County and surrounding areas. 443-852-1632 / 410-670-9100

  • Abingdon MD Real Estate Stats for March 2011

    Posted Under: Market Conditions in Abingdon, Home Buying in Abingdon, Home Selling in Abingdon  |  April 14, 2011 11:50 AM  |  781 views  |  No comments

    Abingdon MD Real Estate Stats for March 2011

    The following statistics are from MRIS.com, our local real estate listing web site. We have a mixed bag of news to report for the month of March. The area that we will be covering is Abingdon MD. Abingdon is located in Harford County MD right off of exit 77B on I95. OK lets get to the stats. Below is the chart that I will be pulling my info from to discuss.

    OK first lets talk about the chart above. The sold dollar volume in March of this year was slightly down. It was $7,836,950 in March 2011 and $9,099,642 in March 2010. This is a decrease of 13.88%. The average sold price was also down slightly. In 2010 we were at an average of $220,750 and in 2011 it was down to $209,000 which is a 4.31% decrease. Relax, this does not necessarily mean that your home's value is down that much. This may mean that the homes that did sell were smaller or in a less desireable area. In March 2011 we sold 36 homes in Abingdon. In March 2010 we sold 40. This is a 10% decrease as well. The days on the market increased from 94 to 136.

    Now lets discuss the listings. We had an increase of inventory by 3.05%. Last year we had 197 homes on the market and this year we are up to 203. However, we have fewer new listings. This has decreased to 70 giving us a change of -19.54%. The rest of the numbers follow the same pattern as well. The numbers are down pretty much across the board for Abingdon. Keep in mind that we are competing against a market last year that was stimulated by the government credit that was available. So even though the numbers are down, they could be worse! They could be much worse. With that being said, I am curious to see what the future brings. Abingdon is a wonderful area in spite of the real estate numbers. If you compare these number to other communities, I am sure they will hold their own so to speak.

    There are many different communities within Abingdon. A few of these include Monmouth Meadows, Constant Friendship and Box Hill. There is plenty of houses for you to choose from if you would like to call Abingdon your home. Some areas that are close to Abingdon include Bel Air , Aberdeen, Churchville, Edgewood, Fallston and Forest Hill to name a few!.

    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the aggressive marketing of properties as well as facilitating the purchase of HOUSES FOR YOU TO CALL HOME. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill. Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and Greg Vurganov to name a few!

    Exit Mid Atlantic is Growing!

    410-670-9100 / 443-852-1632

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  • Monmouth Meadows and Surrounding Areas Real Estate Snapshot For March 2011

    Posted Under: Home Buying in Harford County, Home Selling in Harford County  |  March 31, 2011 11:11 AM  |  734 views  |  No comments

    Monmouth Meadows and Surrounding Areas Real Estate Snapshot For March 2011

    Hi all! Today I am going to be focusing on the communities close to Abingdon that are located south of RT 24. The three that I will be discussing are Constant Friendship, Monmouth Meadows and County Walk. All three of these communities are located off of South Tollgate rd.The statistics we will be dealing with are the entire month of March up to today, the 29th.

    First lets talk about County Walk. This is the smallest of the three neighborhoods. This area is in the Bel Air 21015 zip code. The children would attend Emmorton Elementary, Bel Air Middle as well as Bel Air High. There are currently 6 active listings in the community. The prices range from $210,000 to $469,900. The average price is $356,033. There are also two under contract as well as two that have sold this month. The two under contract are listed at $209,900 and $229,700. The two that have sold this month were priced slightly higher. One was $249,900 and the other was $399,900.

    The next area we will discuss is Monmouth Meadows. This is a slightly larger community just to the east of Country Walk. If you live in Monmouth Meadows, you children will also attend Emmorton, Bel Air Middle and Bel Air High even though it has an Abingdon 21009 zip code. There are currently 18 active listings for sale in this area. They range from $169,900 to $449,900. The average asking price is $250,676. There was one that sold in the month of March thus far. This was listed for $209,700. There is also 3 under contract right now. They range from $235,352 to $360,000 with an average of $278,417. In addition, Ryan Homes is building new construction in the community. There is a variety of different homes to choose from including condos and garage townhouses.

    Last but certainly not least is Constant Friendship. This is the largest of the three areas. This area is just a bit further east of Country Walk. This community is in the Abingdon 21009 zip code. If you live in Constant Friendship, your children would go to Abingdon Elementary, Edgewood Middle and Edgewood High. There are currently 36 active listings for sale. They range from $140,000 to $277,000 with an average of $204,189. There was 8 that sold this month so far. They range from $154,900 to $229,900 with an average of $194,850. There are also 20 under contract right now. They range from $135,800 to $279,900.

    No matter which one of these communities you choose, they do not disappoint.

    All three of these areas, Constant Friendship, Monmouth Meadows and Country Walk are located in Harford County MD. Although they are split between the zip codes of Abingdon 21009 and Bel Air 21015 they are very similar.

    Some areas that are close to Abingdon include Bel Air , Aberdeen, Churchville, Edgewood, Fallston and Forest Hill to name a few!.

    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the aggressive marketing of properties as well as facilitating the purchase of HOUSES FOR YOU TO CALL HOME. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill.

    Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and Greg Vurganov to name a few!

    Exit Mid Atlantic is Growing!

    410-670-9100 / 443-852-1632

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  • Monmouth Meadows Abingdon MD

    Posted Under: Home Buying in Abingdon, Home Selling in Abingdon  |  February 4, 2011 12:54 PM  |  846 views  |  1 comment

    Monmouth Meadows

    Monmouth Meadows is a community located in Abingdon MD. Abingdon is in Harford County. You will find several styles of homes to choose from. They are building three of their products here. They have the Hampton Court model, the Wexford as well as the Waldorf to choose from. This community has some nice ammenities to enhance your lifestyle. Their are walking trails, pool, gym, tot lot and club house. The walking trails will lead you through the woods either to the Harford County Library or to the Resivoir. The Pool, Club House and Gym are right down the street for your convienence. As for the children, the little ones would go to Emmorton Elementary School. They sightly older ones would go to Bel Air Middle and the Bel Air High. Monmouth Meadows is just a short distance from I95. It is accesable from either Rt 152 or Rt 24. It is minutes away from the Festival Of Bel Air as well as the Boulavard at Box Hill. Slightly further down the road is Downtown Bel Air. All three of these areas have a plethera of shopping as well as eateries galore!

    Hampton Court

    The Wexford

    The Waldorf

    Call today to schedule your appointment to see these beautiful homes!

    443-852-1632

    Some areas that are close to Abingdon include Bel Air , Aberdeen, Churchville, Edgewood, Fallston and Forest Hill to name a few!.

    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the agressive marketing of properties as well as facilitating the purchase of houses for you to call home. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill.

    Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and

    Greg Vurganov to name a few!

    Exit Mid Atlantic is Growing!

    410-670-9100 / 443-852-1632

  • Harford County MD Real Estate Stats

    Posted Under: Market Conditions in Harford County  |  January 11, 2011 11:46 AM  |  371 views  |  No comments

    Real estate stats year end for Harford County MD


    I pulled the following stats from MRIS.com. This is the site that we as Realtors pull listing information from in the Harford County MD area.



    Hi there folks! Usually I break the stats down into areas such as Abingdon,  Bel Air, Edgewood, Aberdeen to name a few. This one is a year end report for Harford County.


    In 2009 we had 4,863 listings. This increased by 7.5% in 2010 to 5,230 listings. Not too shabby! The closed sales increased by 1.9%. We sold 2487 in 2010! There was also an increase of 2.9% for the median sales price. However, that stat simply tells you the type of home. If the more expensive ones are selling, this number increases. The days on the market is one that I track closely. For the year of 2009, the average was 126 days. In 2010 this decreased by 12.1% to 111! This is an important stat. The less days on the market the better.


    Ok there you have it! Please look for my zip code breakdowns as well. Form your own opinion but I think things are looking up. Some of the statistics are flat for the most part but flat is better then dropping!


    Some areas that are located within Harford County include Abingdon, Aberdeen, Bel Air, Churchville, Edgewood, Fallston and Forest Hill to name a few!.



    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the aggressive marketing of properties as well as facilitating the purchase of houses for you to call home. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill.



    Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and



    Greg Vurganov to name a few!



    Exit Mid Atlantic is Growing!



    410-670-9100 / 443-852-1632

  • October Stats for Aberdeen MD 21001

    Posted Under: Market Conditions in Aberdeen, Home Buying in Aberdeen, Home Selling in Aberdeen  |  December 7, 2010 11:26 AM  |  414 views  |  No comments

    October stats for Zip code 21001

    The following are statistics pulled from MRIS.com. These are concentrated on the Aberdeen Zip code. Some communities near the Aberdeen zip code include The Trails at Beechtree, Holly Woods, Bulle Rock and Aberdeen Hills to name a few.

    The numbers are a mixed bag of news.

    OCTOBER 2010

    • $3,683,900 Total dollar volume
    • $184,195 Average sales price
    • 20 units sold for the month of October
    • 148 average days on the market.

    In 2009 we had a dollar volume of $2,694,975 which has increased in 2010 by 36.70%. This is good news folks! The average sold price was $168,436 in 2009. This number has also increased by 9.36%. The exciting thing is that the units have gone up by 25% from 16 to 20! Yes, I believe things are looking up for the market. The last statistic concerns me slightly. The average days on the market has been trending down in general over the past few months. This month it has gone up. It went from 87 in 2009 to 148 in 2010. This MAY be a fluke! With just 20 sold, there could have been a few properties that were on the market for a long time go to settlement. This is the most likely situation. If it continues to trend up then we may have reason for concern. For now, just be happy that things are looking up!

    Some areas that are close to Aberdeen include , Abingdon, Bel Air, Churchville, Edgewood, Fallston and Forest Hill to name a few!.

    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the agressive marketing of properties as well as facilitating the purchase of houses for you to call home. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill.

    Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and

    Greg Vurganov to name a few!

    Exit Mid Atlantic is Growing!

    410-670-9100 / 443-852-1632

  • Trails at Beechtree

    Posted Under: General Area in Aberdeen, Home Buying in Aberdeen, Home Selling in Aberdeen  |  November 10, 2010 6:06 AM  |  437 views  |  No comments

    Models Now Open!!

    The Trails at Beechtree is a planned community convienently located just off of I95 @ exit 80. It is located in the heart of Harford County and very close to Aberdeen Proving Grounds. It is also close to I95 convienent for commuting to the Baltimore metro area as well as points north such as Philidelphia. The models are now open in this brand new community.

    In the news release I received it said that they had the "Linganore, Prescott and Camilla" models availible for viewing.

    They are offering a townhome product that is 1631 square feet. This home is priced from $219,990.

    The one car garage townhomes are 1730 square feet starting from $237,490.

    The two car garage single families are 2590 to 3493 square feet from $349,990.

    The 2/3 car garage single family homes are 2821 to 3230 square feet from $399,900.

    As you can see, there is defenitly a wide variety of products to choose from.

    I found some sketches of a few of the products they offer on their website ryland.com.

    The following is an excerpt from their site describing the planned community.

    "Surrounded by the peace and tranquility of mature trees, ponds and trails, yet conveniently close to shopping, dining, recreation, major thoroughfares and great schools. At the heart of it all, planned community amenities including tennis and sports courts, tot lots, and fishing ponds, along with a magnificent clubhouse boasting a fitness center, massage room, game room and library."

    So there you have it! It seems like it will be a great comunity. It is very exciting to see the area of Aberdeen grow with the development of new construction.

    New construction is a great way to go when purchasing. Lots of times builders have some great incentives to go with a new home. Just as a side note though, you can get warranties and such on real estate that is not new as well. Some you may even be able to get on a "Short Sale" which could save lots of money!

    ATTENTION!! Even though you may be leaning towards new construction you still can utilize the services of an agent. Please understand that the sellers new home construction rep WORKS FOR THE BUILDER! I will be happy to represent you in your new home construction transations as well. However, you need to contact an agent such as myself before you go into the community of they will not allow you representation compensation.

    Aberdeen is a wonderful section of Harford County.

    Some other areas within Harford Countythat are close to A.P.G. are Abingdon, Bel Air, Churchville, Edgewood, Fallston and Forest Hill to name a few!.

    Paul Gillespie - Realtor - Exit Preferred Realty - Specializing in the agressive marketing of properties as well as facilitating the purchase of houses for you to call home. I concentrate but am not limited to Abingdon, Aberdeen, Bel Air 21015, Bel Air 21014, Churchville, Edgewood, Fallston and Forest Hill.

    Here are some other agents in my office - Teresa Hurley, Linda Greco, Betty Williams and

    Greg Vurganov to name a few!

    Exit Mid Atlantic is Growing!

    410-670-9100 / 443-852-1632

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