Archive for February, 2008
The Springtime Real Estate Market in Annapolis Starts Now: 5 Things Considered
February 26th, 2008 Categories: One Minute Realtor, Sellers
You probably think that springtime is one of the best seasons to sell a home in the Annapolis area. And you would be correct. Here’s why you need to get in gear now, even before you put your snow shovel away.
1. At the first hint of warm weather, home shoppers come out of the woodwork. If you wait until it warms up to start preparing, you’ll miss the first surge of shoppers. Like a punctual friend of mine likes to say, unless you’re 5 minutes early, you’re late. Don’t be late.
2. Buyers are looking, earlier than ever, for the homes they want to move into this summer. Homebuyers with school age children are making offers in March and April on homes they want to move into in June, after school gets out. This gives the kids plenty of time to settle in and make friends before the new school year begins. If you list your home in May, you’ll arrive late to this party.
3. Our friend and colleague, Linda Donnelly - who works with our clients staging their homes in preparation for a sale - likes to say that there’s a big difference between the way we live in a home, and the way we stage it for sale. That transition can easily eat up a couple of weeks. Plan on enough time to do it right.
4. It’s no secret that homes are taking longer to sell these days. You have to factor that into your moving plans. One of our pricier listings just went under contract in 29 days, but the average days on market for that price range is closer to 200 days. Do the math and see if your plan adds up.
5. In another month, everyone you may need - carpenters, landscapers, carpet layers, movers, lenders, etc - is going to be twice as busy as they are now. When will you be in a better position to negotiate price? There’s no time like the present.
Shameless Plug: Of course, no matter the season, we’re never too busy to meet with you to discuss the sale of your home. Or help you buy one. Our clients tell us we’re pretty darn good at both.
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Postcard from the Edge
February 20th, 2008 Categories: Buyers, From Our Mail Bag, One Minute Realtor, Sellers
If there were any doubts that some Annapolis area homeowners have gotten a little edgy about the real estate market of late, they were laid to rest upon the arrival of a real treasure. It was one of our “Just Sold” postcards, returned to us in a plain envelope, with this thoughtful inscription scrawled all over it: Any Idiot Could Have Sold a Home in this Neighborhood For That Price!
We knew the neighborhood of origin. But the recipient’s mailing label had, understandably, been carefully peeled off, thus ruining any hope of retaliation other than a broad scale air strike, which I ruled out only after sleeping on it.
Truth be known, our correspondent was way off the mark: not only was the sale price right in line with others in the neighborhood. But the home sold relatively quickly.
A Little Knowledge Can be a Dangerous Thing
Aside from a measure of restraint, what our indignant writer lacked was knowledge of or access to the sort of information that would demonstrate the soundness of the sale. Read the rest of this entry »
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Scarey MLS Photos #1: A Basement with Issues
February 14th, 2008 Categories: Scarey MLS Photos
Our Gallery of Actual Listing Photos by Colleagues Who Point and Shoot Themselves in the Foot
The agent’s comments tell us that this is a ”walk-out” level basement, as in - we suppose - buyers will quickly want to walk out when they’ve had a look.
Solution:The “creepy geeky crib” vibe won’t quite resonate with today’s discriminating buyers, who expect a home’s lower level to fulfill any number of higher social and utilitarian purposes. Ditch the plastic wall covering, throw up some Sheetrock, and try to de-clutter just a tad.
On The Bright Side: A lesser agent would have called this the “Home Theatre” or “Media Room”.
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“Oh, We’ve Got a Friend in the Business”
February 12th, 2008 Categories: One Minute Realtor, Sellers
So You’ve Got a Home to Sell in Annapolis (Edgewater, Crownsville, Severna Park, etc): Should You Hire a Real Estate Friend or Relative?
Ouch, this gets very tricky. We run into this situation frequently - just yesterday, in fact, when we met with a For Sale By Owner in Annapolis. The seller had the good sense to know, intuitively, that hiring a friend ”in the business” to sell his million dollar home could be like opening the proverbial can of worms.
Based on personal experience and dozens of stories we’ve heard from clients and other agents, he’s onto something. Hire a friend or relative and you run the risk they’ll let down their professional guard. Client-friends - in order to keep the peace and the relationship intact - may not speak up if promises and expectations are not being met. Resentment builds. Stuff happens.
Like Trump Says: It’s Not Personal, It’s Just Business
It’s understandable that anyone would want to hire a friend or relative in the real estate business. Understandable, yes. Advisable? Maybe not. Take a step back and consider a few things first.
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Scarey MLS Photos #2: The Bathroom Blues
February 8th, 2008 Categories: Scarey MLS Photos
Our Gallery of Actual Listing Photos by Colleagues Who Point and Shoot Themselves in the Foot
Hey, we love a spirited game of Tiddlywinks Into the Toilet as much as anybody. Splish, splash and all that good fun. But some buyers just don’t have a sense of humor when it comes to polka dots on the bathroom wall or lids left in the upright and locked position.
The Solution: Maybe find a place in the home to set up a “game room” or “game area” and get it off the bathroom wall. Apply a soothing, albeit less playful shade of khaki or light green to the walls and - for good measure - keep the lid down during photo sessions and showings.
On the Bright Side: Paint’s a cheap fix. And we know the toilet seat works.
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8 Things You Probably Didn’t Know About Those Real Estate Directional Signs
February 7th, 2008 Categories: Buyers, One Minute Realtor, Sellers
1. By law, agents can display directional signs in Anne Arundel County between the hours of 3:00 PM Friday afternoon and 9:00 AM Monday morning.
2. If signs are put up anytime before or after the prescribed times, teams of trained attack chipmunks, lying in wait, will take them down for you. You will not see those signs again. Or you will see them in several pieces.
3. Even if they are displayed during the correct times, the attack chipmunks sometimes get confused and take them down for you.
4. They work, Part I. The majority of people who come into our open houses are there because they saw a directional sign. We know because we ask.
5. They work, Part II. We recently sold a million dollar home as the direct result of a directional sign. This, after spending thousands to market the home using traditional forms of advertising. One of those good news, bad news things.
6. The wire posts these signs attach to are flimsy. They don’t like frozen earth and we have a pile of mangled, broken posts to prove it.
7. Some individuals’ idea of a practical joke (see #2 and #3) is to reposition the signs so they’re pointing in the wrong direction. These chipmunks need to find more fulfilling careers.
8. For Sale By Owners take note: I paid a friendly visit to a For Sale By Owner in my neighborhood who was not aware of #1. I drew her attention to #2 and #3. The very next day, I found one of her signs in our community dumpster. I returned it to the owner. To this day, I still wonder if she thinks I put it there.
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Annapolis Area Real Estate, By The Numbers
February 6th, 2008 Categories: Buyers, Neighborhood Sales & Stats, Real Estate News, Sellers
From the everyday to the extreme, some interesting tidbits courtesy of our MLS: 
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Homes Currently Listed in Annapolis for $500,000 or Less: 384
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Homes Currently Listed in Annapolis for more than $500,000: 399
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Longest Days on Market for an Annapolis Listing: 1,254. (Free advice: time to consider a price reduction.)
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Most Expensive Home for Sale in Annapolis: $13,900,000. Includes 8 fireplaces, which are likely to come in handy when you have money to burn.
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Most Expensive Home for Sale in Maryland: $19,685,000. In Easton, on 605 acres, Georgian-style home.
PS - You already know this, but we’d be happy to show you any home for sale in the Annapolis area, including the last two. Just give a call.
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Annapolis Real Estate: A Tale of Two Markets
February 1st, 2008 Categories: One Minute Realtor, Real Estate News, Sellers
Your agent has given his presentation, you’ve signed a listing agreement, and now there’s a For Sale sign in your front yard. Your home is on the market.
Or is it? The real question is this: is your home in the market? On the market and in the market are two vastly different things.
On the market means you’ve simply shown up at the dance and now you’re hoping for the best. In the market means you’ve practiced your steps, showered, brushed and flossed, put on your best duds, polished your manners and - by gum - you’re not leaving until you’ve danced with all the prettiest girls in the room.
Big difference, right? One’s passive and without intention. The other’s active, prepared, and purposeful.
A Lot of Homes for Sale in the Annapolis Area Are On, But Not Really In the Market
And guess where the right-now buyers are looking? Make no mistake about it: buyers today have no appetite for homes that aren’t resolutely in the market.
Not priced aggressively? Your competition right down the street is. Your home need fresh paint or a thorough cleaning? Buyers won’t give you a second glance. Does your home cry out for updates or new carpet? Best deal with it. Offering allowances just won’t cut it anymore: today’s buyers want turnkey homes, and they have their pick of the litter.
We tell our clients that they need to be in the top 20% of the market - price- and condition-wise, versus the competition - if they’re really serious about selling. Impeccable staging is essential, too: as best it can, your home should have that “model home” feel. It may take a little work to get there to position your home squarely in the market. But today, anything less is simply a waste of time.
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