| Name | Douglas Jennings |
| Phone | 540-840-1133 |
| Mobile | 540-907-2615 |
| Fax | 703-894-3361 |
| Pager | 540-840-1133 |
| Toll Free Phone | |
| Address | 302 Westwood Office Park |
| City | Fredericksburg VA 22401 |
| Country | US |
| Alternate Website | http://www.CallTheJenningsTeam.com |
www.FredericksburgVahomes4Sale.com |
|
Douglas Jennings Real Estate Consultant. Douglas started his Real Estate Career in North Stafford in 1979 with Mount Vernon Realty. Doug continued working in the residential market in Stafford and Spotsylvania counties until 1985.Having been one of the TOP 10 agents with Mounty Vernon realty year after year he became interested in the land development opportunity.
In 1985 Doug opened up a development company with the owner of Mount Vernon realty the sole owner of one of the largest privately owned Real Estatae company in Northern Virginia. Owning over 50 offices and very well respected in the market place.
opened a Commercial Division for Mount Vernon Realty and had over 15 agents working in hte office up until I took over FULL time the demands of my develpment Company and seeing to the day to day operations.
Doug was teh CEO and ran the day to day operations of the company and worked with the engineers and county in the design and approvals of the projects. Significant applicantions in rezoning and approvals necessary for the process.
Projects developed :
Eastern View 150 Unity residential home project on RT 610 Garrisonville Rd Stafford County
Dawning Point Commercial Day Care Center Garrisonville Rd built for tenant/owner
Courthouse Rd Commercial Office Building, built for our Development Company over 6000 sq. ft.
Ridge Point 275 unit residential home project home project on Deacon Rd Stafford County
Rezoned multiple land parcels and resold to builder/Developers in Stafford and Spotsylvania Counties
Camelot subdivision 300 unit residential project on Gordon road, Spotsylvania County
Spotslee Subdivision 60 unit residentail project on Spotslee Rd, Spotslyvania County
We went on to purchase and rezone and sell undeloped projects to builders and developers in the area and were involved in multiple projects in Stafford, Spotsylvania and King Geoge County.
Waterfront project: consisted of over 300 acres and this project was engineered, soil work done and final approval of plats for recordation.(never developed recession hit)
Fairview Beach Restaurant and Campground, we purchased and leased restaurant while rezoning rear parcel for 50 unit condo project (never developed recession hit)
In 1989 the recession hit an Banks were calling notes left and right and the RTC Resolution Trust Corporation stepped in and demanded performances by banks thus creating a significant down turn in the market and many banks went under and developers folded up and could not withstand the significant and unreasonable requirements set forth by the RTC... my company was forced to become insolvent in 1992.
In 1993 I went back to selling residential Real Estate with Re/Max Realty and specialized in representing Land Developers and builders in the acquisition of land parcels for subdivisions.
DEVELOPED:
Frank Martin Farms, 10 unit project off Monroe Farm road, consisting of large 3 acre parcels in Stafford County
Frank Martin Farms, 10 unit project off Monroe Farm road, consisting of large 3 acre parcels in Stafford County
Long Branch Subdivision, 20 unit project off Poplar rd. consisting of large 3-20 acre parcels in Stafford County
Commercial Office Building, Spotylvania Mall, purchased and renovated and leased to Real Estate Company and attorney. Used personal office for residential and commercial sales and company.
Chapel Green, large estate parcels consisting of 8 beautiful parcels all sold and built personal homes on 18 acres.
2009 started working with Keller Williams Commercial and Land Division as Director in launching the Commercial Division in conjunction with all the other Commercial offices with Keller Williams nation wide.
2010 formed a Team called The Jennings Team focusing in on residential and land sales since the market had taken a turn again in 2007. The Jennings Team is one of the Top producing teams in the office and the local market place.
In brief my experience in the Real Estate Arena and having worked hands on with the purchase and development of Residential and Commercial Properties from the inception of RAW LAND to the FINAL sale of development lots to builders, I have experienced being in the trenches and learning what it takes to visualize an see a project t its completion and with this experience I am able to communicate
with a Developer or BUILDER client in helping them with the purchase of a piece of property. I understand their language and how and what they are thinking when seeking a piece of property for development.
With the current downturn in years past in the Real Estate market...home prices have fallen drastically and this has impacted the value of RAW LAND to the developer and in fact there are very few projects that were being reviewed in the county for development. This has changed in the last 18 months and I am seeing and working with builders and developers again.
There are still a lot of office and retail space available in our market place and there are still the big box centers that are vacant and the land and commercial market is suffering from the effects of the residential market and economic situation of our county. However we are seeing a tick up in the development of land in some of the surrounding areas.
Cost does not equal value and the appraisers are having a difficult time in the marketplace coming up with supporting prices.
Financing is still the most difficult and there is simply no speculative type financing out there for purchasing raw land.
I hope this provides you with some insights of the knowledge and expertise that I have when it comes to dealing with LAND! If there is any questions or comments or concerns you may have please don't hesitate to call me.
