To: Ms. Shimmer, Realtor

From: Susan Sample

Date: November 2nd, 2021

Subject: 8067 Oaktree Lane is Highly Recommended Based on Sanchez Family Criteria

As asked, we evaluated multiple homes based on the criteria provided by our clients, the Sanchez family. Based on our research, we have three excellent options: 8067 Oaktree Lane in Columbia, 9010 Philip Dorsey Way in Columbia, and 8469 Hill Street in Ellicott City. We recommend that the family purchase 8067 Oaktree Lane as it meets all of their requirements: location, size, price, comparables, schools, and local amenities.

8067 Oaktree Lane Perfect in Terms of Location, Size, and Price

We believe the perfect home for the Sanchez family is located at 8067 Oaktree Lane in Columbia, Maryland. Shown in Figure 1., the home meets all the requirements that the family desires. Not only is the home gorgeous contemporary style, but we believe our clients will appreciate the location, size, price, and comparable value.

Figure 1. 8067 Oak Tree Lane. Note. Image adapted from http://www.zillow.com/8067/Oaktree21044

Well within a 30-minute commute. 8067 Oaktree Lane, Columbia, Maryland is within an ideal commuting distance for Mr. and Mrs. Sanchez. Location was the most important requirement for the Sanchez’s, with no more than 30-minute commute time for the couple. The home is 27-minutes from Mr. Sanchez’s office in Silver Spring, Maryland, and 18-minutes from Woodlawn, Maryland; the location is well within the couple’s requirements (Google, 2021a). To determine this result, we calculated the average commute times based on rush traffic on RT. 29—the main highway leading to Fulton.

Spacious home with lots of acreage. The home has more than enough room for the Sanchez family to live and play. The family wanted a home with a minimum of 4 bedrooms on a quarter-acre lot. The home is situated on a nearly half acre lot (.47 acres) with 2/3 of acreage being in the front yard (Zillow, 2021a). The home itself is 2800 square feet with four bedrooms and 3.5 baths (Zillow, 2021a). Not only does this home meet the size requirements, but the surrounding acreage is more than double the requirement, which means the family will have ample space for outdoor activities on the property. All the homes in the development are comparably sized and offer larger lots than other nearby developments (Zillow, 2021d, 2021e).

Falls nearly $900 monthly under budget. Not only is the home in a desirable area, but the price is ideal for our clients. Our clients wanted a home that fits their monthly budget of $4000 per month or roughly 30% of their take-home pay. The total of $515,000 mortgage with $110,000 down of this home translates to $2350 per month, including $3250 per year in property taxes and $720 per year in HOA fees. The home falls well under budget, saving our clients $900 per month. The savings associated with the home can be attributed to its older construction–the home has been on the market for over 240 days with a considerable price reduction–our clients can use the additional savings to remodel the house using a HUD redevelopment loan (Zillow, 2021a).

Comparably priced and a tremendous value. Comparable homes within the area ensure a substantial resale value, should the Sanchez family decide to sell in the future. As standard practice, we want to ensure that comparable homes were with 10%-20% of the home value of 8067 Oaktree Lane. Homes in the area averaged $207 per square foot, with a total home price between $530,000 and $570,000 (Zillow, 2021e; 2021f). The home was well within the 10%-20% range, meaning homes in the area are comparably valued. All of the homes within the development were built by Ryan Homes in 1993 with little variance in both home size and lot size (Zillow, 2021a; 2021e; 2021f).

Local schools are nationally ranked. With some of the best schools in the area, the Sanchez family can be confident in providing a quality education for their three children. This home is located within the Howard County school district, which ranks #1 in the State of Maryland and #12 in the United States (U.S. News & World Report, 2021). Nearby schools include Centennial High School, Centennial Middle School, and Centennial Lane Elementary School, all of which rank within the top 10% of schools within the State of Maryland. We understand that the Sanchezes required their home to be in a school district within the top 20% of the state. Not only do the schools meet this standard, but they are consistently known as top-performing schools within an exceptional school district. Howard Country schools have been ranked in the top 10% of school districts in the country for the last 30 years (U.S. News & World Report, 2021).

Columbia, Maryland offers lots of recreational and shopping amenities. In terms of amenities, 8067 Oaktree Lane has plenty of outdoor recreation and shopping nearby. The home is within walking distance to Centennial Park, which sits on 337 acres with a 2.2-mile walking trail (Howard Country Parks, 2021a). Other local parks include Lake Kittamaqundi Wilde Lake, and Lake Elkhorn, all within a 5–10-minute drive (Google, 2021b). In addition to outdoor recreation, the home is located near the Mall in Columbia, which offers over 150 shops along with Macy's and Lord & Taylor department stores. Additionally, the Mall offers a movie theater and over 20 restaurants. More, downtown Columbia, Maryland, includes even more opportunities for recreation and shopping with Merriweather Post Pavilion and Whole Foods. Columbia, Maryland, is a nationally recognized planned community, dubbed the “New City” with expansion plans well into the 30 years (Columbia Association, 2021).

Alternatives Give the Family Exceptional Options

While we believe that 8067 Oaktree Lane is the perfect home for the Sanchez family, we also researched two outstanding alternatives for the family to consider—9010 Phillip Dorsey Way in Columbia and 8469 Hill Street in Ellicott City. Both of these homes stand out in terms of style, price, and location.

Alterative 1 features excellent value and lots of amenities. Shown in Figure 3., 9010 Phillip Dorsey Way in Columbia also fulfills all of what the Sanchez family has shown they require.

Figure 2. 9010 Phillip Dorsey Way. Note. Image adapted from http://www.zillow.com/9010/PhilipDorsey21044

This home is newer, so if the clients prefer the architectural style, this might benefit them. Within walking distance of a snowball stand and only a mile away from the Blandair Park playground. The biggest trade-off of this property over the Morningview Court one is that of price and school districts. At $585,000, which is $50,000 less, the Sanchez family can expect to be paying about $2,900 a month in expenses instead (Redfin 2021d). The schools in the area range from the top 18%-25%, which is quite a bit below the school district that the Morningview house sits in, but still better than most in the state (Schooldigger 2021d; 2021e; 2021f). Should the Sanchezes value the lower mortgage payment and newer home over the excellent schools available to the residences on Morningview Court, Phillip Dorsey way could be their new home.

Alternative 2 is a historic home that is priced to move. Shown in Figure 3., 8469 Hill Street meets the clients’ criteria while offering a unique atmosphere.

Figure 3. 8469 Hill Street. Note. Image adapted from http://www.zillow.com/9010/PhilipDorsey21044

This house is in the historic district and sits less than a mile from downtown Ellicott City. At nearly 200 years old with recent interior updating, this home is nothing short of gorgeous. If the Sanchez family has a heart for historic homes, this could be the one for them. This home is priced at $540,000, which makes it the cheapest of all the options while being by far the most unique. A master bedroom with a fireplace, brick and stone walls accenting rooms through the house, and a garden path that leads to a historic downtown are things unfound in today’s real estate market (Redfin, 2021f). If the Sanchezes are looking for a unique home, Hill Street might be their gem.

Our Recommendation is 8067 Oaktree Lane in Columbia, Maryland

8067 Oaktree Lane is an ideal selection for the Sanchez family, and we strongly recommend its purchase. The home is well within a 30-minute commute for both Mr. and Mrs. Sanchez, situated within the Centennial region of Howard County, Maryland, within the city limits Columbia. Howard Country, Maryland, is known for its top-ranked schools and the city of Columbia offers ample outdoor recreation with dozens of public parks, including nearby Centennial Park along with nearly endless shopping, dining, and entertainment options within and near the Mall in Columbia. Beyond amenities, the home is comparably priced and well within the family’s budget. The home sits on a large lot and the home itself is 2800 square feet with 4-bedrooms and 3.5 baths. With these wonderful features, we are confident that the Sanchez family will absolutely love the home and area—8067 Oaktree Lane is an excellent buy that comes with our highest recommendation.