Gillis Gilkerson, a general contracting and construction management firm on Delmarva, received the Medium Business of the Year award at the recent 95th Annual Salisbury Area Chamber of Commerce Awards Banquet. President Dwight Miller and Vice President JB Barnes accepted the award on behalf of Gillis Gilkerson. The award, sponsored by Comcast Spotlight, was presented by Stephanie Willey. The award is presented to a firm with a staff of six to 50 with a substantial record as an established business. Submitted Photo
Shore Market Update
BERLIN – A national trend that reflects limited inventory impeding overall sales numbers is beginning to crop up on the Lower Shore, and local REALTORS® are encouraging potential sellers to take action now while competition and mortgage rates are low.
March 2015 housing statistics from the Coastal Association of REALTORS® (CAR) – which represent the activity of CAR’s more than 1,000 REALTOR® members in Somerset, Wicomico, and Worcester counties – reflect decreases in listings, contracts and settlements.
Compared to the same time last year, single family home listings across all three counties decreased by 2.2 percent in March. Condominium listings decreased by 3.8 percent. Contracts, or pending sales, for single family homes and condominiums in all three counties decreased by 20.9 percent, and settlements decreased by 8.4 percent.
According to the National Association of REALTORS® (NAR), existing home sales would be much higher if it wasn’t for negative equity overhang. Too many homeowners, NAR experts say, still lack sufficient equity in their homes to sell. Homeowners who have equity below 20 percent are less likely to sell because they may not be able to cover the costs of the transaction. About 35 percent of homeowners nationwide are either in a negative equity position or have equity below 20 percent.
Lawrence Yun, NAR chief economist, said factors like recent solid gains in pending sales, a steadily improving labor market, and mortgage rates hovering around four percent, as well as the likelihood of more renters looking to hedge against increasing rents, should boost the industry this spring and summer.
“However, the underlying obstacle – especially for first-time buyers – continues to be the depressed level of homes available for sale,” Yun said. “REALTORS® are reporting severe shortages of move-in ready and available properties in lower price ranges. The return of first-time homebuyers this year will depend on how quickly inventory shows up in the market.”
NAR experts say a limited number of homes on the market will help sellers nab top dollar, and may even spur bidding wars and multiple offers. Also, it’s important for buyers and sellers to keep in mind that the current historically low interest rates will not be around forever, and it’s important to take advantage now, before it’s too late.
Vicki Harmon, president of the CAR board of directors, said there is no better time than now, when the Lower Shore begins to see thousands upon thousands of visitors and tourists who may be interested in a second home or relocation, to put a home on the market.
“We are coming into our busiest time of year and we encourage anyone who is hesitant to put their home on the market to work with a local REALTOR® to determine their options,” Harmon said. “Now is the time to show all these visitors what we have to offer. They will be here, and their eyes will be open.”
General Manager Named
GEORGETOWN, Del. – Adams Radio Of Delmarva has named Patricia Ilczuk-Lavanceau as General Sales Manager for all of its stations. Most recently she had spent 15 years as a top sales producer for Comcast.
“I’m excited for the new chapter in my career representing these strong radio stations of the Adams Radio Group,” she said. “I’m looking forward to applying my media experience to help build and strengthen businesses around the region using radio.”
Adams Radio owns WOCQ-FM, OC104, WZBH-FM, 93.5 The Beach, WGBG/WKHI-FM, Big Classic Rock 98.5/107.7, WJWL/WJWK-AM and Spanish-Language Hit Station 100.3 “Juan-FM”
“Patricia is the perfect person to lead our team to new heights. Her relationships in this market are second to none. I can’t wait to work with her and super serve our current and future clients. That, and learn how to pronounce her last name,” said Adams Radio Group Market Manager Phil LoCascio.
Buffet Recognized
OCEAN CITY — The Prime Rib, Crab Legs & Seafood Buffet at Horizons Oceanfront Restaurant, inside the Clarion Resort Fontainebleau Hotel on 101st Street, has recently been announced as #6 on Tabelog’s Best of the Best Top 12 All-You-Can-Eat Buffets in America.
Horizons is the only restaurant in Ocean City and the state of Maryland to receive this honor.
The all-you-can-eat Buffet features Certified Angus Beet® Prime Rib, Glazed Virginia Baked Ham, Maryland Crab Soup, Alaskan Crab Legs, Spicy Steamed Shrimp, Fried Clams, Oysters and Clams on the Half Shell, Catch of the Day, BBQ Baby Back Ribs, Pasta Station, Kid-friendly foods, and more.
Hours are Friday and Saturday, 5-9 p.m. and every day 5-9 p.m. in season.
Tabelog is a premier restaurant review site that began in Tokyo in 2005 and launched its New York-based North American site in 2013. Recipients of a place on its Best of the
Best lists are handpicked by master food critics.
Habitat Project Underway
SALISBURY — Local REALTORS® are banding together to help one local family realize the dream of homeownership through the Wicomico County chapter of Habitat for Humanity.
The groundbreaking ceremony for this year’s Habitat REALTOR® build was held Monday, March 16 at 200 Naylor Street, where the Zickafoose family, now of Crisfield, will soon own a home.
Susan Megargee, owner and broker of RE/MAX Crossroads and Immediate Past President of the Coastal Association of REALTORS® (CAR), is a major sponsor of this project.
“Homeownership is the dream of most people in the United States and is coming true for the Zickafoose family,” Megargee said. “Each year, Habitat for Humanity builds homes with help from the community and this is the year of the REALTOR® Build. Teams from each local real estate company will pitch in to help the Zickafoose family achieve their American Dream.”
Other CAR REALTOR® members who are major sponsors of this project are ERA Martin & Associates and Ginnie Malone.
Construction of the one-story, three-bedroom and one-and-a-half-bathroom home is expected to last about six months.
Wayne and Susie Zickafoose first applied for a Habitat home in 2007. Since then, the couple has managed to save over $1,800 to cover their closing costs and have logged over 350 hours of sweat equity towards getting their new home.
“We are proud to be part of the solution and proud of Wayne and Susie Zickafoose for working so hard to meet our rigid qualifying criteria, despite their physical challenges and caring for their grandson,” said Molly Hilligoss, executive director of Wicomico Habitat. “It took time, patience and sacrifice.”
This will be Habitat’s 61st home built in Wicomico County and is the 14th home built in Salisbury’s Church Street Neighborhood.