A Week In Business – August 11, 2017

The Coastal Association of REALTORS® (CAR) welcomed 14 new members during New Member Orientation on Aug. 3.

Biz-A-150x150.jpg“On behalf of CAR, I’d like to extend a warm welcome to these REALTORS® and wish them the best of luck as they dive into the market on the Lower Shore,” said CAR President Don Bailey.

Pictured, from left, are Temeka Mumford of Keller Williams Realty in Salisbury; Amy Crawford of SVN Miller Commercial Real Estate in Salisbury; Jeffrey Evans of Coldwell Banker Residential in Salisbury; Sarah Johnson of Bunting Realty in Berlin; Jennifer Smith of Vantage Resort Realty in Ocean City; Christy Gordon of EXIT Realty at the Beach in Ocean Pines; Julie Bonneville of Coldwell Banker Residential in Salisbury; Paul Vinroot of Keller Williams Realty in Salisbury; Marc Bouloucon of Keller Williams Realty in Lewes; Daniel Hill of Keller Williams Realty in Ocean City; Allan Scarborough of Whitehead Real Estate Executives in Salisbury; Ashley Tapia of EXIT Shore Realty in Salisbury; Nancy Bolt of Berkshire Hathaway HomeServices PenFed Realty in West Ocean City; and Donna Silverman of Re/Max Advantage Realty in Ocean City. Submitted Photos

July Real Estate Summary

BERLIN — Local REALTORS® saw a spike in market activity throughout July, according to the latest numbers from the Coastal Association of REALTORS® (CAR).


A recap of the housing market for July is pictured. Image by CAR

July 2017 saw a four percent overall increase in single family home and condominium contract starts compared to the same time last year in Somerset, Wicomico, and Worcester counties. Individually, single family home contracts increased by 16.9 percent in Worcester County, by 19.8 percent in Wicomico County, and by 64.3 percent in Somerset County. Condominium contracts increased by 4.7 percent in Worcester County, but decreased by 22.2 percent in Wicomico County and by 100 percent in Somerset County.

Settlements were also up overall in the tri-county area by 2.5 percent. Individually, single family home settlements were down by 6.6 percent in Worcester County and by 5.3 percent in Somerset County, but were up by 14.8 percent in Wicomico County. Condominium contracts increased by four percent in Worcester County, stayed the same in Wicomico County, and decreased by 100 percent in Somerset County.

The number of overall listings reported in all three counties remained exactly the same as last year. However individually, single family home listings were down by 15.5 percent in Worcester County, by 5.4 percent in Wicomico County, and by 24 percent in Somerset County. Condominium listings were up by 13.8 percent in Worcester County, by 275 percent in Wicomico County, and by 33.3 percent in Somerset County.

Days on market was down overall by 48.5 percent. Listing prices and sale prices were both down by six percent.

“We are hearing from members all over the Lower Eastern Shore that they are very busy this summer,” said CAR President Don Bailey. “Contracts and settlements are both up from last year, inventory continues to decline in most areas, and days on market is down considerably. The local market is buzzing with activity and we expect the momentum to keep going throughout the remainder of the season.”

Accountant Joins Firm

OCEAN CITY — CG Accounting Group, LLC (formerly Gregory & Associates, LLC), a certified public accounting firm in Ocean City, announced Seth Place has joined the firm as a staff accountant.

Place graduated from Lock Haven University of Pennsylvania, obtaining a Bachelor of Science degree. He is currently continuing his studies to earn his CPA license.


Shawntel L. Polk

Branch Manager Named

SALISBURY — John W. Breda, President and CEO of The Bank of Delmarva, recently announced that Shawntel L. Polk joined the bank as Branch Manager and Assistant Vice President for the Delmar location.

Shawntel is currently attending Wilmington University and will graduate in December. She brings with her several years of experience in retail banking and commercial lending.

Sussex Spaces Leased

SALISBURY – SVN|Miller Commercial Real Estate Senior Advisors Wesley Cox and Henry Hanna recently helped two companies located in Sussex County, Del. grow into new locations.

Wesley worked with Jamestown Painting to help them find an additional location to accommodate growing demand in eastern Sussex County. Jamestown Painting ultimately leased a space at Savannah Square on Route 113 in Dagsboro, Del. Savannah Square is an office and retail center servicing lower Eastern Sussex County. The property offers major energy savings with ICF construction and several other features that reduce the overall energy cost by at least 40%.

Wesley also worked with a Finland-based company, Junttan, to aid in its expansion into the United States. Junttan designs and manufactures hydraulic piling equipment and their expansion into the United States will allow them to focus on strengthening customer service in the form of technical support and assistance to owners, operators and service technicians. Junttan leased a 4,000-square-foot office and warehouse space in the Stone Creek Business Park on Rt. 13 in Laurel, Del. Stone Creek is a professional office park that also offers flex office/warehouse units. Similar to Savannah Square, Stone Creek Business Park has the same energy efficient features which drastically reduce the tenant’s energy costs.

“It is great to work with and to see companies in all different industries grow and hire new employees as our economy continues to expand,” Cox commented.

Bank Promotion Announced


Meagan Farber

BERLIN — Raymond M. Thompson, President and Chief Executive Officer of Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc., has announced that Meagan Farber was recently promoted to Staff Accountant.

Farmer began her employment with Taylor Bank as a part-time Customer Service Associate in February of 2016. She recently obtained her Master of Business Administration (MBA) from Salisbury University where she also received her Bachelor’s Degree in Finance with a minor in Accounting.

A native of Salisbury, she will be located at the main office of the bank located in Berlin.

“We are excited to offer a career opportunity to an existing frontline employee. Meagan’s education coupled with her branch operations experience is a strong foundation that will enable her to add value to our organization,” said Taylor Bank Chief Financial Officer M. Dean Lewis.

New Board In Place

SALISBURY — The United Way of the Lower Eastern Shore recently welcomed a new Board of Directors under the leadership of Board President Jim Hartstein.

Hartstein, a certified insurance counselor and certified risk manager, operates the Salisbury location of his family business, The Insurance Market. He has spent a great deal of time supporting local non-profits during his time on the Eastern Shore. He currently serves on the Greater Salisbury Committee, the Peninsula Regional Medical Center Foundation Board, and The Holly Center Citizens Advisory Board.

“I believe that in supporting your community, you are building a better place for all to live. I want to do my part in shaping this community for my children and their children to come,” Hartstein said.

United Way Executive Director Kathleen Momme adds, “Our organization is blessed to have a truly dedicated Board of Directors representing Wicomico, Worcester, Somerset and Dorchester counties. Our board members are proven leaders in the community and do much more than sit on the sidelines. They are a hard-working, active group of volunteers and they keep our standards high.”

The 2017-2018 United Way Board includes Hartstein, president; Immediate Past President Rick Nelson, Nelson’s Nationwide Insurance; Executive Vice President & Campaign Chair Dana Seiler, Vantage Point Solutions Group; Treasurer, Roy Geiser, TGM Group; Vice President of Community Impact, Kimberly Conway-Dumpson, University of Maryland Eastern Shore; Vice President of Somerset County, Cortney Monar, Princess Anne Elementary; Vice President of Dorchester County, Jennifer Layton, Layton’s Chance Winery; Vice President of Worcester County, Cole Taustin, The Embers Restaurant & BLU Crabhouse & Raw Bar; Vice President of Wicomico County, Beth Reid, Healogics at Peninsula Regional Medical Center; Vice President of Communications, Memo Diriker, BEACON at Salisbury University; and Vice President of Special Projects, Mary Mengason, Avery Hall Insurance Group.

Other board members include Greg Bassett, Salisbury Independent; Pete Bugas, Interstate Container; Michele Canopii, Maryland Department of Transportation, MVA; Steve Farrow, civic leader; John Gaddis, Somerset County Board of Education; Donna Hanlin, Wicomico County Board of Education; Amy Hasson, Salisbury University; Ron Hickman, TGM Group; Bryan Hurst, Perdue Farms; Davis Jean-Louis, Interstate Container; Dennis Killian, Peninsula Regional Medical Center; Gus Lebois, civic leader; Jim List, James A. List Attorney at Law; Sharon Morris, First Shore Federal; Allen Nelson, civic leader; Bryan Newton, Wor-Wic Community College; Susan Parker, Delmarva Media Group; Jesse Reid, Wicomico County Board of Education; Ginny Reid-Matern, civic leader; Laura Rodriguez, PNC Bank; Candice Schroepfer, Perdue Farms; Joy Strand, civic leader; Connie Strott, Law Firm of George G. Strott, Jr.; and Annette Wallace, Worcester County Board of Education.

Blood Banks Merge

SALISBURY — Blood Bank of Delmarva (BBD) and New York Blood Center (NYBC), both community-based, nonprofit blood centers, are merging their operations to create one of the leading blood centers in the Northeast and Mid-Atlantic regions.

The new partnership brings together the complementary strengths of BBD and NYBC to deliver a broad range of blood banking expertise that will position both organizations to deliver next generation blood banking innovations. The merger will position BBD to better serve its hospital network, expand its laboratory testing services and create opportunities to participate in significant blood research projects operated by NYBC.

“This is an exceptional moment for our companies and the communities we serve,” said BBD CEO John Ferretti. “In today’s increasingly challenging and evolving blood banking environment it is imperative that like-minded organizations work together to improve access to safe blood products. This merger will ensure BBD’s long-term success in a challenging healthcare environment.”

Day-to-day operations at the companies will not be impacted. BBD will continue to operate under its own name and will continue to serve customers in Delaware, New Jersey, Pennsylvania, Maryland and elsewhere. Ferretti will continue as CEO of BBD. BBD’s blood donors and volunteers will continue to receive the same service they’ve come to expect from the organization, while hospital customers will have access to a broader portfolio of blood products and services.

Christopher D. Hillyer, President and CEO of NYBC, said, “We’re extremely pleased to be partnering with such an excellent blood center. NYBC and BBD have a remarkable alignment of mission, vision and talent. We look forward to working together to ensure the finest customer-focused service for our hospitals and patients. We welcome BBD to the NYBC family.”