Monday, June 4, 2007

Maryland ranks second in U.S. for larger homes

31.1 percent in Anne Arundel County have at least 4 bedrooms.

Jeaneene Scott, a 44-year-old mortgage lender, moved her family from a Crofton townhome into a five-bedroom home at the Homeport community in Edgewater. Jeaneene Scott never thought she'd own a mansion. But this month, the 44-year-old mortgage lender moved her family from a Crofton townhouse into a five-bedroom home in Edgewater. "It's definitely a dream home," said Ms. Scott. "My son said it's the perfect hide-and-go-seek house."

Anne Arundel ranks eighth statewide, with 31.1 percent of occupied homes with at least four bedrooms, according to a recent U.S. Census Bureau report. And that's a safe sign the demand for McMansions here is still hot.

Calvert County took first place with 42.8 percent of homes equipped with four or more bedrooms. Howard County came in second with 41.9 percent and Charles County followed with 40 percent. Last place went to Baltimore city, which had 11.8 percent.

Anne Arundel's larger housing stock helped Maryland rank second in the nation, with 28 percent of its homes having at least four bedrooms. The state came in just behind Utah with 39.2 percent. Meanwhile, homes are steadily growing on a national basis, with 20 percent of occupied housing units having four or more bedrooms. That's an increase from 17.7 percent in 2000.

John Kortecamp, executive vice president of the Home Builders Association of Maryland, said he thought Anne Arundel County could rank higher if it weren't for zoning rules that limit home construction to "pretty much anything but age-restricted housing."

In Anne Arundel, Winchester Homes is building the larger homes that Ms. Scott and other home buyers are seeking. Winchester's 29-unit Homeport community off Solomons Island Road sells multi-bedroom homes starting around $1.2 million.

The county's affluent population has helped drive demand for the community and roughly 20 Homeport units sold since last summer, said Winchester President Larry Burrows.

"We have good job growth and household incomes, and we have a very educated, sophisticated customer base," he said.

Anirban Basu, chairman and chief executive officer of Sage Policy Group, an economic and policy consulting firm in Baltimore, said the proportion of large homes directly correlates to income levels. Anne Arundel ranks higher on the large-home list because of affluent communities like Severna Park and Annapolis, he said.

But younger buyers have flocked to less expensive areas, such as Odenton and Laurel because they may not have the wealth to purchase a four-bedroom home, or need to, he said.

Mr. Basu said that co-existence of residents with various income levels contributes to Anne Arundel's diverse and robust economy.

"Efficient economies are diverse economics," Mr. Basu said. "It doesn't just take the lawyer or the lobbyist to sit at lunch and have a power meal. Somebody actually has to serve the meal."

Mr. Basu said he expects home size to dwindle thanks to a growing number of empty nesters and baby boomers who want to downsize. The smaller-home trend already is taking place.

Buyers bought 197 county homes with four or more bedrooms last month, down from 273 in April 2005, according to the Metropolitan Regional Information Systems.

Charlie Buckley, a Realtor with Long & Foster who sells waterfront homes in Annapolis, said his clients are empty nesters and baby boomers looking to shed the "six-bedroom home."

These clients are saying "I just sold my big house in Potomac, my kids are grown now," he said.

Mr. Buckley said he's working to fill their needs with a builder who develops 3,000-square-foot waterfront homes that are "top quality" and "priced under $2 million."

"We always sell these houses right away," he said. "These houses have everything you would expect in a 6,000-square-foot house but they're 3,000 square feet." (www.hometownannapolis.com)

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