A Week In Business

Biz AOfficers Installed

OCEAN CITY — The Ocean City Hotel-Motel-Restaurant Association held its annual Installation of Officers Dinner on April 24 at Harrison’s Harbor Watch.

New officers installed include, pictured back from left, Doug Buxbaum, Buxy’s Salty Dog; Mark Elman, Clarion Fontainebleau Hotel; G. Hale Harrison, Harrison Group; Austin Purnell, OC Motels; and Bob Torrey, Happy Jack Pancake House; and, front, Tom Tawney, Cayman Suites; Caryl Cardenas, Park Place Hotel; Rebecca Taylor, Captain’s Table; and Will Lynch, Commander Hotel. Not pictured were Shawn Harman, FishTales; Patrick Staib, Real Hospitality Group; Dave Robinson, Boardwalk Hotel Group; and Gary Figgs, Seacrets.Biz B

Additionally, the Bank of Ocean City Tres Lynch Scholarship award went to Annette Kenney of Wor-Wic. She is pictured with Will Lynch, brother of Tres Lynch, and Earl Conley, Bank of Ocean City. Submitted Photos

 

Real Estate Update

BERLIN — The Eastern Shore of the Maryland real estate market, including Worcester, Wicomico, Dorchester, Queen Anne’s, Talbot and Caroline counties, experienced some positive trends in March compared to the same month in 2013, according to The Long & Foster Market Minute reports.

In March, the number of homes sold and the median sale price increased in several parts of the Eastern Shore.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The number of homes sold in March increased in some counties along the Eastern Shore region. Talbot County experienced an increase of 15 percent, while Caroline County saw a 4-percent increase and Wicomico County saw a 3-percent increase. Other areas saw decreases of 5 percent to 28 percent.

According to March data, the median sale price varied throughout Maryland’s Eastern Shore region. Caroline County experienced a 6-percent increase, followed by Dorchester County with a 2-percent increase. Worcester County saw a 2-percent decrease in median sale price. Talbot County experienced a 3-percent decrease in median sale price, while Queen Anne’s and Wicomico counties saw decreases of 8 percent and 25 percent, respectively.

Inventory throughout the Eastern Shore area also varied, according to March data. Wicomico and Worcester counties saw decreases of 15 percent and 1 percent, respectively. Talbot County saw a 1-percent increase and Queen Anne’s County saw a 3-percent increase in inventory. Dorchester County experienced an 8-percent increase in active inventory, while Caroline County saw a 9-percent increase.

Homes in the region are selling in about five to eight months on average, according to the March data. Queen Anne’s County experienced an average Days On Market (DOM) of 96 days, while Dorchester County saw an average DOM of 131 days. The rest of the region saw homes selling between 135 to 212 days, on average.

“Though the housing market got a slow start this year after a harsh winter, we’re beginning to see some positive trends happening in the real estate market, including in the Eastern Shore region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many places, we’re seeing homes selling quickly and increasing in median sale price. Now that the temperatures are heating up, we expect to see many continued improvements in the market.”

 

Biz CLeadership Academy Attended

SALISBURY — Wesley Cox, Senior Advisor with Sperry Van Ness-Miller Commercial Real Estate in Salisbury, was one of 20 graduates from the Maryland Association of REALTORS® (MAR) 14th Annual Leadership Academy honored at ceremonies held in Annapolis.

The MAR Leadership Academy was formed by REALTORS® who understand the important role they play in their community and the need to enhance the leadership skills, knowledge, and competencies of fellow REALTORS® interested in making a difference in their personal lives and in their communities.

Coastal Association of Realtors, one of 16 local REALTOR® Boards/Associations in Maryland, is a strong advocate and recognizes the importance of this program to our association’s future. The MAR Leadership Academy offers an intensive curriculum designed to develop skills in leadership, communications, strategic planning, legislative and government affairs and community involvement. Classes are conducted over 7 months and stress the value of professional and personal commitment to business, charitable and civic endeavors.

Wesley specializes in the sale and leasing of commercial properties.

“This program has helped me continue my pursuit to be a successful leader within the community while gaining additional leadership tools that can be applied across diverse and growing organizations,” Cox said. “The program had a focus on personal development that will not only benefit me in my daily life, but will also help me lead and advance the organizations I am associated with.”

Director Inducted

SNOW HILL — The Worcester County Commissioners congratulated Economic Development Director Bill Badger recently for being inducted into the Maryland Economic Development Association (MEDA) Hall of Fame.

Badger, who joined Worcester County Government in November 2011, received his award at the MEDA Annual Conference on Monday, April 27.

“Badger understands that Worcester County is a dynamic, pro-business marketplace abounding with new opportunities and an abundant, highly-skilled workforce to draw from, and he’s done an excellent job promoting these assets to strengthen and build our local economy,” Commission President Bud Church said. “We couldn’t be more thrilled to have him on our team.”

The MEDA Hall of Fame award honors those who have made significant contributions to economic development in Maryland. With over 30 years of dedication to the profession, Badger remains committed to his mission of attracting family supporting jobs to Worcester County.

Hall of Fame Inductees are selected by vote of the full MEDA Board of Directors and are considered based on their years of service, leadership positions held and specific project involvement resulting in economic growth, increased capital investment and employment in Maryland.

 

 

 

 

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