ERA Martin Associates Partners with Shamrock Realty

ERA Martin Associates, local real estate brokerage in Salisbury, MD, has partnered with Shamrock Realty Group of Ocean Pines to create the Shamrock Division, a branch of ERA Martin Associates.  

ERA Martin Associates has been serving Delmarva’s real estate needs since 1985. Originally founded by Bill Martin, the brokerage has stayed locally – and family – owned and operated ever since. The award-winning Realtors at ERA Martin Associates currently serve Maryland, Delaware, and Virginia. 

“We are a traditional real estate company that provides a dedicated staff, innovative resources, industry expertise, and local connections with a global reach. We have a teamwork mentality and empower our agents’ careers by leveraging each other’s strengths,” said Joni Williamson, President at ERA Martin Associates. “We are beyond excited to welcome the Realtors at Shamrock Realty Group to Team ERA. They bring a unique set of skills and experiences that we cannot wait to collaborate with.”

Much like ERA Martin Associates, Shamrock Realty is an independent real estate company with deep family ties and a tradition of service dating back to its founder and broker, Gary James. Gary founded the company in 2006, together with Pam Wadler, Vice President and Associate Broker. The company has expanded through the years, and currently has approximately twenty-four affiliated Realtors. Shamrock Realty Group provides real estate services throughout the Lower Eastern Shore, while specializing in the Ocean City, Ocean Pines and Berlin markets. This partnership will allow both companies to expand their market shares and provide more opportunities for their agents to grow their businesses. 

“The merging of our two brokerages just made sense,” said Gary James. “Our group of professionals has been growing. And the booming market since the COVID-19 pandemic proved that we needed more resources at our disposal. We are happy to have made such a beneficial relationship with the team at ERA Martin Associates.”

“I believe that it will be vastly advantageous to our agents to now have strong connections and a presence in both Worcester and Wicomico counties,” stated Bill Martin, Chairman and Founder of ERA Martin Associates. “An exceptional real estate agent is an expert on the area that they serve. Now we’ll have almost 90 professionals serving the lower Eastern Shore, dedicated to knowledge, community, and service”. 

Pam Wadler, Vice President, adds, “When we first began talking to Joni [Williamson], it was obvious that we shared the same values and passion for real estate. Despite their growing size, ERA Martin still has that family feeling that we maintain at Shamrock.”

“We are all Team ERA. We learn together, collaborate, and share ideas and knowledge. Working in a supportive, non-competitive environment allow us to celebrate each other’s successes. We are so excited for all of the future celebrations with the Shamrock Division” concludes Joni Williamson.

ERA Martin Associates looks forward to continuing to serve home buyers and sellers here on Delmarva. Their resources and support ensure a positive experience for their customers and agents alike. Contact ERA Martin Associates today to see how their unique tools and award-winning customer service can help you buy or sell a home in today’s market, or to learn more about how Team ERA can help agents build their real estate careers.  

The ERA Martin Associates Shamrock Division is located at 11049 Racetrack Road in Ocean Pines, Maryland.

A Ribbon Cutting Ceremony will take place on Wednesday, October 20th from 5:00 – 6:00 pm with the Ocean Pines Chamber Of Commerce.

Are We Experiencing A Housing Bubble?

Surging prices, bidding wars, low inventory and low interest rates leave many of us wondering if we might be headed for another market crash in the next year or two.  The old adage, “What goes up must come down!” and the crash of 2006-09 still very much on our minds leaves a very unsettled feeling. 

But, let’s analyze.

The downturn of the early 2000’s was fueled by low interest rates, loose mortgage lending tactics and a record rise in home values year over year.  When that bubble burst, approximately 9 million Americans lost their homes to foreclosure or short sales.  Housing values plunged by 30% and it took nearly a decade for a full recovery. 

Experts today find a similar collapse would be unlikely.  Consider these circumstances today:

• Stiff Lending Practices:  Federal regulations imposed after the great recession fundamentally changed the mortgage lending industry.  The process of qualifying for a mortgage requires a much stricter review of income, credit and assets; and lenders who do not comply now suffer heavy penalties.  For this reason, those who purchase a property using a mortgage are much more likely to be able to weather any housing shift.

• Pandemic Mortgage Forbearance:  Our government has been very proactive from the start of the pandemic to put in place programs to protect those who might lose their jobs because of the pandemic.  As of March 2021, 2.6 million homeowners’ mortgages were in such forbearance plans. As the economy has recovered, many homeowners have resumed their employment, and their home payments. According to CoreLogic, by the end of 2020, overall mortgage delinquencies declined 5.8% due to the forbearance program. The share of mortgages 60 to 89 days past due declined to 0.5%, lower than 0.6% in December 2019.

• Home Equity:  As a result of stiffer mortgage lending practices and slowly increasing home values over the last decade, most homeowners have a cushion in the equity of their property (the difference between the current home value and what is owed in loans).  This is in vast contrast with 2009 when  ¼ of U.S. homeowners who had a mortgage on their property were faced with owning a home that was valued at less than the amount they owed.

• Price Growth Is Slowing:  While we are still seeing price increases, our real estate professionals are already sharing that they are seeing a slow down in appreciation.  The surge in sales during the pandemic was unexpected but can be partially attributed to consumers on lockdown and confined to their homes realizing that their property might not fit their needs for new work from home and remote schooling practices.  As the nation has opened up, these concerns have lessened.

While no one can make a prediction with complete accuracy, based on the above factors the Homebuyer’s Institute has reported that it seems highly unlikely that housing prices in the U.S. will drop in 2022. In fact, recent forecasts predicted that home values would continue to climb through this year and into next.  However, many analysts do expect to see smaller price gains next year, compared to 2020 and the first half of 2021:

• In their April 2021 forecast, Freddie Mac’s research team predicted that U.S. home prices will rise more slowly in 2022 compared to this year and last. By their estimation, house values nationwide rose by 11.3% during 2020. They predict a gain of 6.6% for 2021. Looking ahead, the group predicted that U.S. home prices would rise by 4.4% during 2022.

• Property data and analytics company CoreLogic made a similar prediction to Freddie Mac’s long-range forecast above. The company reported that home prices in the U.S. rose by 11.3% from March 2020 to March 2021. Looking forward, they expect prices to rise by just 3.5% from March 2021 to March 2022.

• A recent Reuters poll of 40 housing analysts suggested that house values in the U.S. will rise more slowly in 2022. The surveyed analysts estimated that values would rise by 10.6% this year, followed by a gain of 5.6% in 2022.  According to the Reuters report: “Beyond this year, U.S. house prices were forecast to moderate and average 5.6% growth next year and 4.0% in 2023.”

• National Association of Realtors chief economist Lawrence Yun estimated that the housing market will downshift next year. As Yun stated in May: “With more inventory and some easing in demand, home prices are expected to shift to mid-single-digit appreciation by the fourth quarter and in 2022.”

• The research team at Zillow are more optimistic.  In May 2021, the company’s website stated: “United States home values have gone up 11.6% over the past year and Zillow predicts they will rise 11.8% in the next year.”

• According to Realtor.com, the decline in time-on-market has slowed, indicating that some properties are sitting on listing portals for a little longer. These market trends point to a positive development for buyers and an easing of double digit price increases.

It goes without saying that the past year has been extraordinarily strong in the real estate market.  While it is impossible to predict, many factors including low housing supplies, an increase in millennial buyers and low mortgage rates, point to the fact that market increases may cool a bit, but they will continue to appreciate steadily. 

Pictured, From Left: Chairman Bill Martin, Laurie Cannon, Frances Sterling, Jeff Ashley, Nancy Ashley, Greg Johnson, President Joni Williamson, Clark Edouard, Sales Manager Brandon Johnson

Salisbury, MD: Local real estate firm ERA Martin Associates recently honored their Top sales producing Realtors for the 1st quarter of 2021 at a luncheon held on Thursday, April 29th. The event was held at Mogan’s Oyster House, a local restaurant in downtown Salisbury. ERA Martin is experiencing another very successful year and the company is pleased to be honoring these hardworking agents and celebrating their accomplishments for the first quarter of the year.

Always Laughter when Realtors Get Together! Pictured, From Front Left: Jeff Ashley, Clark Edouard, Brandon Johnson, Bill Martin – From Back Right: Frances Sterling, Laurie Cannon, Joni Williamson, Nancy Ashley, Greg Johnson

In attendance at the luncheon were Frances Sterling, Laurie Cannon, Greg Johnson, Clark Edouard, and Brandon as well as Nancy Ashley and Jeff Ashley, who represented The Ashley Group. Chairman Bill Martin and President Joni Williamson hosted the lunch, along with ERA’s Marketing Coordinator Kayla Hildreth. Jeff Dale arrived towards the end of the luncheon, much to the delight of his peers. Not in attendance were Roger Sansom and the third member of the Ashley Group, Min Pi.

During lunch, the agents made made connections and discussed the current market. Even during their downtime, the realtors at ERA Martin Associates are networking and putting the needs and wants of their clients first.

Frances Sterling, for example, asked if anyone knew of a property for one of her sellers to downsize to. Laurie Cannon marveled at how quickly one of her listings had gone under contract, and with multiple offers.

Frances Sterling, Laurie Cannon, President Joni Williamson, and Nancy Ashley share crispy Brussels Sprouts and real estate stories.

The local real estate market is still experiencing an inventory shortage. Most saleable homes are selling quickly, with multiple offers, often over asking price.

“Our agents are working around-the-clock to find homes for their buyers and help sellers get their properties ready for the market,” said President Joni Williamson. ERA Martin Associates has broken their own all-time sales record twice in the last year.

ERA Martin Associates Wins National Award for

“Extraordinary Customer Service”

Among Top 35 Firms in the U.S. Receiving

Coveted QE Award – Unique Industry Recognition

ERA Martin Associates of Salisbury is among America’s Top 35 real estate brokerages firms based on measurable service excellence and customer satisfaction. Winning the national QE“Reflects measured and independently verified customer service excellence in the delivery of the highest levels of customer satisfaction in real estate service in North America,” according to Larry D. Romito, CEO, Quality Service Certification, Inc. (QSC), creators of the award.

The 2021QE Award recognizes the Top 5 Large Companies, the Top 10 Midsize Companies and the Top 20 Small Companies, from California to Massachusetts and Florida to Minnesota, spanning 22 states and includes some of the most respected independent and well-known national and regional brand names.

ERA Martin Associates not only received the QE Award for the Top 10 Midsize Companies, but ranked #2 in the category.

“This award truly honors the hard work and dedication of our agents who ensure every single client receives the best possible customer service experience,” says ERA Martin’s Chairman Bill Martin. President of ERA Martin Associate, Joni Williamson, adds “Winning the QE Award from Quality Service Certification puts us among the best real estate companies America and it is a great honor to be considered only second in the nation as a medium company.”

The 2021 QE Award is based upon the results of an independent survey limited solely to buyers and sellers who were in a real estate transaction that actually closed with participating real estate companies. Quality Service Certification, Inc. and Leading Research Corporation, Laguna Niguel, CA administer the survey process to ensure that every past customer is surveyed, preventing agents or companies from selectivity, influence, interference or  manipulation in any way.

“Today consumers are seeking transparency, accountability, and trusted information to help them make

better, more informed decisions and choices. So ERA Martin Associates has elected to participate in service assessment and feedback following every transaction, which is setting a new and better standard for excellence,” said Larry D. Romito, CEO, Quality Service Certification, Inc.

“ERA Martin Associates is not just raising the bar for customer service; they’ve committed to a whole new standard knowing consumers are tired of seeing meaningless perfect reviews where every agent has a 5-star rating,” Romito adds. “We believe that in a consumer-centric world, the higher standard for gauging excellence in professional services should authentically measure how well each customer is served, not just how much business is done.”

Larry Romito, Chairman, CEO, notes that the QE Award is based upon aggregated overall Customer Satisfaction as a percentage of all returned surveys of real customers’ where every past customer has been surveyed without selectivity, editing, deletion, cleansing or manipulation. “No other system exists, anywhere, in the real estate industry that can legitimately make that claim,” he said, noting that “accurate, reliable, independently validated survey results of individual agents” can be accessed by visiting RatedAgent.com.  

Quality Service Certification, Inc. created the QE Award to foster, encourage and recognize the highest levels of service quality and customer satisfaction.  QSC, with its sister company Leading Research Corporation, assures the careful measurement and independent validation of service and satisfaction results. 

Eligibility for the 2021 QE Award requires a minimum number of surveys sent and returned, which may be adjusted from year to year based upon market conditions and the number of participants. More than 30,000 real estate agents and 750 companies elected to participate in the customer satisfaction assessment survey process in 2020 for the 2021 QE Award.

The COVID-19 Pandemic Has Increased Interest In Multi-Generational Homes

The pandemic has undeniably caused changes in our housing market and the types of homes buyers are looking for. One such change is the increased desire to purchase multi-generational homes. The National Association of Realtors (NAR) has stated that the purchase of multi-generational homes accounted for 15% of home sales since March, 2020 compared to 11% before that date.

The coronavirus has, without a doubt, led homebuyers to reassess their housing situation and even reconsider home sizes and destinations. Shopping for larger homes with extra space that might allow for households to better accommodate older adult relatives or young adults that now live within their current residence due to the pandemic has become very prevalent. In addition, visitation restrictions at assisted living and nursing facilities have pushed families to want to bring their older relatives into their home. The benefits to multi-generational living arrangements go far beyond financial. These arrangements are often mutually beneficial, allowing those working to cover housing expenses while others cover child care. This often allows young parents with career ambitions to continue to pursue those while their children have exposure to their grandparents on a daily basis.

Every individual situation is unique, but there are a few key features multi-generational buyers look for. While families interested in multi-generational living are probably hoping to spend more time together, it will still be important to have some privacy. This growing trend can lead to an increase in demand for features like in-law suites, soundproofing and larger living spaces that allow modern families to live together while still enjoying some alone time. Additionally, more people under one roof typically means more belongings. Most multi-generational homebuyers will be looking for homes with plenty of storage space or creative storage solutions as a result.  An “in-law suite” typically consists of separate entrances and garages. This area of the home usually has its own kitchen, bath and living spaces. Ideally, there should be two areas for social interaction so that thewhole family can be together but they can also have separate space when they want it.

Architects say that the design of housing will need to respond to accommodate the changes in households. In 1980, only 12% of the population lived in a multigenerational household, but that has now grown to 20% and continually rises every year. Clearly, with the population in the United States living longer as well as considerations about the cost and isolation of living alone, families are coming together under one roof. Our area housing stock, however, has continued to center around independence and privacy which doesn’t quite fit the merging of households.

Sellers today may need to consider if their property might be able to be retrofitted to accommodate multi-generational living. Is there an area that could be a private living space? Even without doing the work yourself, being able to market the idea that a buyer willing to make some adjustments to the current property could make it a comfortable home for a multigenerational household will open up the pool of buyers for your property.

ERA Martin Associates | 410.749.1818 | ERAdelmarva.com

1000 East Main Street, Salisbury, Maryland

ERA Martin Associates has been serving Delmarva’s Real Estate needs since 1985, and is licensed in Maryland, Delaware, and Virginia. Our team of Realtors are the local experts when it comes to residential home sales, waterfront homes, lots & land, farms, commercial real estate, rental property management, and more. We utilize the latest in technology and marketing techniques to help our agents stay in touch with their clients’ home buying or selling needs. We strive to ensure that ERA Realtors are knowledgeable and up-to-date on industry changes.