Archive for March, 2009
The Bad News: You’re Not the Winner of the Fifty Dollar House. Good News? It’s For Sale
March 27th, 2009 Categories: Buyers, Real Estate News, The Fifty Dollar "Raffle" House
That’s Right! And You Could Do a Heck of a Lot Worse Than Pay $799,900 for a Home That Appraised in November for $1.2 Mil
Unless you’ve been living in a cave somewhere in the Annapolis area, you know all about the now famous Fifty Dollar House. It was raffled off in January to one lucky winner – Karen McHale of Idaho Springs, Colorado - whom you met here shortly after she heard the exciting news.
With a touch of regret – she says it would have been delightful to own a second home near the Chesapeake, but her retirement plans will take she and her husband west, not east - Mrs. McHale has decided to sell the property. And she’s hired us – The Moss Haedrich Team - to help her do just that.
We’ll be bringing you regular updates about the home – 1 Poplar Point Road in Edgewater. For the moment, suffice to say that it’s a beautiful 6 bedroom, 4 1/2 bath home with real style (contemporary Cape Cod meets historic charm; part of the original structure dates back to the 1800’s!) and modern appeal.
One outstanding feature is a separate wing – with full kitchen, bedroom and office/study area – that would do beautifully as an in-law, guest or au pair suite. The main gathering area of the home is open living/kitchen space, with fabulous hardwood floors, granite and stainless steel appliances – just stunning.
If you’d like a peek, you can see some photos of 1 Poplar Point Rd. If you’d like to see the MLS listing, just email me at kenhaedrich@gmail.com and I’ll be happy to send it along.
Stay tuned for more about this lovely property. Meanwhile, if you’d like to arrange for a private preview, email me or call Bev at 410-353-2469.
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Tuscan-Inspired Fare Is On the Menu at BRIO, The Latest Gem at Annapolis Towne Centre
March 24th, 2009 Categories: New Construction News, TGIF Annapolis
My Daughter Is Living in Tuscany Until June and She Wants Us To Come Visit. This Is Probably As Close As We’ll Get
As invitations go, this one was a no-brainer: We’re opening a new restaurant at the Annapolis Towne Centre – BRIO - and you’re invited. This is a private, invitation-only event; the masses will have to wait. All you have to pay for is drinks, and be as understanding as possible if our staff-in-training brings you the wrong order or drops linguine in your lap.
Okay, so I made that last part up – but show up we did. Everyone knows that if you invite Realtors to anything, your chances of a turnout are much better if you include food, since most of us are too busy to eat.
See the ladder leaning up against the roof? They really are putting on the finishing touches even as you read this. You wouldn’t have known it, however, judging by the food, the service and the interior – which is drop-dead elegant and evocative of a Tuscan country villa.
They make good use of fabric and floor runners to keep down the background noise. The kitchen is open, but you don’t hear all the clatter and noise that drives us nuts over at Macaroni Grill. I like to converse when I’m out for dinner, not compete with cooks yelling at one another.
The food? In a word, excellent. For starters we tried the Lobster Bisque and BRIO Chopped Salad, both wonderful, though you should order conservatively if you start with the rich bisque.
The Wood Grilled Salmon – which our server Tracie told us was the company’s best-seller nationwide – was beautifully done and served on delicious Romano-Crusted Tomatoes. The Shrimp Scampi on Angel Hair Pasta was a real winner as well.
It’s exciting to see such fine establishments opening at Annapolis Towne Centre, only a stone’s throw from our Keller Williams office on Old Solomons Island Road. BRIO joins a growing list of great places to shop, eat and live - and I’m referring now to the luxury condos at GrandView at Annapolis Towne Centre.
If you’d like to know more about these condos - prices, availability and/or to arrange for a tour – just call one of us, Ken or Bev, at 410-353-2469 and we’ll fill you in.
Meanwhile, get over to BRIO – they open next week – and sample the goods.
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Been Timing The Annapolis Real Estate Market? Thanks to the Fed, It’s Time to Make a Deal
March 20th, 2009 Categories: Buyers, Real Estate News, Sellers
The Federal Reserve Announced Wednesday That It Will Inject $1 Trillion Into the Financial System By Purchasing Treasury Bonds and Mortgage Securities
Bottom line for Annapolis area home buyers? The best interest rates you’re likely to see for a while. I just got off the phone with a lender who told me he’s quoting rates of 4.75% on 30-year fixed rate conforming loans and 5% on FHA loans.
He also told me this: the appraisers he’s been talking to in the last couple of weeks are coming in with appraisals that are above selling price – a good indication that home prices have bottomed out.
From the street level, we sense something is happening here. Buyer confidence is on the rise as the stimulus package gains traction. Showings on our listings are up and more buyers are calling to schedule home previews. In the past week, we’ve received four offers on listings we have. These are all very encouraging signs.
The recently announced $8,000 tax credit for first time home buyers has been a real boost, as well.
If you’ve been trying to time the market and think it might be time to strike, give us a call or send us an email. We – The Moss Haedrich Team of Keller Williams - work with an experienced team of advisors who can help you figure out whether this is the right time for you to buy. No pressure, no hassles – just sound advice you can use.
Our email address is kenhaedrich@gmail.com and our cell is 410-507-7222.
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Renovating Your Annapolis Real Estate? Want to Know if You Even Should? Read On
March 19th, 2009 Categories: Ask the Expert, Buyers, Sellers
About to Spend Big Bucks on that Annapolis Fixer-Upper? You Might Want to Call This Guy First and See If You Can Realize Your Homeowner Fantasies Without Busting Your Budget
So you’ve picked out the cutest little Annapolis bungalow you’ve ever seen and you’re thinking about making an offer.
But you’ve got some…concerns. You’re not sure how an expanded kitchen would fit into the overall design. You’re wondering if the new master bedroom is going to change the roof line. And you’d really like to see your new home “go green” as much as possible. Where do you turn?
To someone like Chris Neumann, design consultant, who deals with these sorts of issues all the time. Chris is a former owner and manager of one of the DC area’s top Design Build Remodeling firms, where he was the design director. He oversaw many large and small scale renovation projects and you can check out a number of them at his Website. That’s one of his projects in the photos above, before and after.
You can see a summary of the services Chris offers at his Website, so I won’t go into much detail here. But briefly, he can do a pre-purchase consultation or advise on renovation possibilities. He can do a feasibility analysis and consult on the design process, zoning limitations, material choices and budget trade-offs.
He’ll also do a sustainability survey and advise on how to save energy, conserve water, and incorporate “green” products and technology into your project. If it was my call, I wouldn’t go near a reno without first talking to Chris.
FULL DISCLOSURE STUFF – I can attest to the quality of Chris’ work because we’re selling his Annapolis home, which he transformed from drab to fab.
OTHER STUFF – If it’s a fixer-upper you’re looking for in the Annapolis area, we have plenty of homes we can show you. Just email me at kenhaedrich@gmail.com, tell me what area/s you’re interested in and what price range, and I’ll email you a list of the best prospects right away.
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Sellers: The 5 Things Buyers Really Don’t Like About Your Annapolis Home
March 14th, 2009 Categories: Buyers, One Minute Realtor, Sellers
As Elsewhere, Buyers Are Calling the Shots in the Annapolis Real Estate Market. Here Are 5 Ways to Really Get Their Goat
I was reading a trade publication the other day and came across an article with a very similar title to the one above. It doesn’t beat around the bush, and that’s a good thing: the market is too competitive right now for bush beating. I’ve cribbed the 5 “things”, but the observations are mine.
#1. Odors. If your home has off odors, you’re a dead duck. Odors have essentially the same irritating effect on buyers as an alarm that goes if when they enter and never stops until they leave. You may not even smell the odors anymore, which is why you need an outside opinion. Do whatever it takes to eliminate the offensive odors – replace carpet, clean air ducts, etc – if you expect a sale.
#2. Cleanliness. Your home should look like you could eat off the floor, not as if you just did. There are no shortcuts here or places to hide because buyers will open every cabinet, look behind every door, in search of dirt. The best few hundreds bucks you spend when you sell a home might be hiring a professional cleaning crew.
#3. Clutter. Clutter and cleanliness go hand in hand: where you find one, you almost always find the other. Pack up the clutter, rent a storage unit – you’re moving anyway, right? – and get it down to just a few things on every surface and wall. Your home should emit a sense of calm, not chaos. Chaos confuses buyers, and confused buyers don’t buy.
#4. Sellers at Home. Imagine, if you will, a waiter who hovers at your table when you’re out on a date. That’s how buyers feel when sellers stay in their home during a showing. Doesn’t matter if the buyers and their agent say it’s fine if you stay. They’re lying.
#5. Unfinished Projects. Buyers want to imagine The Good Life in your home, a life of leisure. The last thing they want is to inherit a list of projects you never got around to. Trust me: the house down the street doesn’t have any unfinished business and it’s priced better besides. That’s what you’re up against.
Finally, none of the above matters if you’re home is overpriced for this market – which is the main thing buyers don’t like about your home. But if that’s the case, they probably didn’t even bother to make an appointment in the first place!
Shameless plug: If you’re thinking of selling your Annapolis home – or buying one in the area - give us a call. We can help you avoid these 5 mistakes, among many others, and have a great real estate transaction. We can be reached at 410-507-7222.
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Annapolis Open House: Come and Keep Me Company This Sunday in Eastport at 1027 Boucher Ave
March 7th, 2009 Categories: Buyers, Sellers
The Weather – and The Real Estate Market – Are Warming Up in Annapolis – and Home Buyers are On the Move
Spring is the best time for holding open houses. Everyone’s got cabin fever and they’re anxious to get out. Home buyers are anticipating their need to find a home by April or May and get settled by summer.
It’s not too hot, which always puts the kabosh on open house turnout. Or too cold, which does the same.
The weather this Sunday is supposed to be stellar, so why don’t you join me at an open house I’ll be holding in Eastport, at 1027 Boucher Ave? You can take a tour by clicking on the photo of this home in the right margin, but frankly I’d rather you stopped by and had a look in person.
I know you’re out there: nearly 7,000 of you have visited this blog since its birth last year. It would be best if you all didn’t show up at the same time, however - try to stagger it between 1:00PM and 3:00PM, which is when I’ll be there. Thanks.
Even if you’re not looking for a $750,000 home, come anyway. We can talk about the market and what you’re looking for. Or we can talk about a home you’re thinking of selling. Or one you haven’t been able to sell. Whatever.
Some people avoid open houses. They’re afraid to engage real estate agents because they think we’re all pushy, slip pills into your drinks and make you sign contracts and agreements you didn’t intend to. But trust me: it’s been weeks since I’ve tried anything like that.
I hope to see you there!
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The Eastport Real Estate Market: Homes For Sale, $750,000 & Under
March 4th, 2009 Categories: Buyers, Neighborhood Sales & Stats, Sellers
17 Homes Active, 2 Under Contract, and 9 Sold in the Last 90 Days
Last week I posted market information for homes $750,000 and up in the Eastport, which you can find here. As you may know, Eastport is the peninsular neighborhood of Annapolis more-or-less circumscribed by Spa Creek to its north, back creek to the south, and the Severn River at its tip.
It’s an eclectic neighborhood, with million dollar homes and modest bungalows often coexisting side-by-side – an arrangement that seems to suit the citizens of Eastport just fine, thank you.
Things are changing, of course. Every year, more and more of the old bungalows are being renovated or torn down and replaced by modern homes. But still, Eastport holds onto its charm and friendly, small town feel.
The Eastport Market in a Snapshot
Of the 17 active properties in this price range, the average days on market is 267, with an average list price of $510,394.
Please note that the average days on market includes one home on Chester Ave that has been listed for 1,222 days. The most recent active listing, on Jefferson St, has been on the market for 6 days.
Two homes are under contract, including one on Moss Haven Court listed at $649,500. It’s around the corner from a lovely home we have listed on Boucher Ave.
Average days on market for the nine Eastport homes in this price range that sold in the last 90 days was 164.
Our Boots-on-the-Ground Analysis of the Eastport Market
Of the many areas around Annapolis where we sell homes, the Eastport market is always a big draw. Our open houses here are well attended and buyers come here with the understanding that Eastport is a vibrant, diverse neighborhood featuring unique homes in a wide range of prices.
Even in the tentative market that we’re in, we feel as if the demand for competitively priced homes in Eastport will remain strong.
Sign Up for our Eastport Hot List
Are you watching the Eastport real estate market? Keeping an eye on the homes for sale in Easport? Then sign up for our free Eastport Hot List, from which this data was taken.
Email me at kenhaedrich@gmail.com and we’ll set you up to receive automatic email updates each time an Eastport home comes to market, goes under contract or is sold. It’s an easy way to keep on top of things.
And if you have an Eastport home to sell, email or call me at 410-507-7222 and I can show you how we use our jumbo marketing toolbox and the latest technology to get our Eastport clients’ homes sold.
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