Archive for July, 2009
What Do Your Annapolis Real Estate Agent and an E-ZPass Have in Common? Take a Look
July 27th, 2009 Categories: Buyers, Real Estate News
In This Video Post, Ken Talks About How to Avoid Delays on the Bay Bridge…AND on Your Way to the Settlement Table
I saw a special on TV this weekend, on Sunday morning, about animals and the “herd instinct.”
In Annapolis, the herd instinct is alive and well with the backed-up traffic at the toll on the Bay Bridge. How else can you explain the thousands of drivers who sit in line, waiting to pay their tolls, when they could have bought an E-ZPass?
In this video I share my thoughts about delays on the bridge…and in real estate transactions. If you care to share your thoughts with me – on this or anything else – just call me at 410-507-7222 or email me at KenHaedrich@gmail.com
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In Real Estate – As In Life – Breaking Up Is Hard To Do
July 17th, 2009 Categories: Buyers, Sellers, The Realtor's Life
But – Occasionally – It’s the Only Option When an Annapolis Home Seller and Agent Can’t See Eye to Eye
We parted ways with a seller client recently.
These things are never easy, though there was a time when it would have been much harder than it was: the longer you’re in this business, the more you realize you simply can’t help everyone.
Ours was much pretty much a straightforward case of an overpriced listing in a range that is VERY price sensitive. Miss the mark by a little bit and you won’t get showings. Or you’ll get them, but only from a clever agent who’s out to demonstrate the value of ANOTHER home to her buyer client (we do this all the time with our own buyers.)
Miss it by a lot, and the silence of the market will be deafening. Which is precisely what was happening.
It’s perplexing how, even with the market correction and the economy on unstable footing, homeowners will cling to the hope of a sales price that they “could have gotten” – or a neighbor did get – three years ago.
That Market No Longer Exists
Today’s market is buyer driven and ruthlessly value focused. The buyer pool is smaller, money is tighter and neither buyers - nor their agents – will so much glance at a home if it’s not priced to sell and in excellent condition. Make an offer on an overpriced home? Why bother, when you can make a better offer on one that’s priced to sell?
What sellers don’t often realize is that even if – by some strange fluke – a buyer WAS willing to pay more than market value for their home, no lender is going to finance it if the home does not appraise. And you can rest assured that it will not.
I wish it would have worked out with these sellers, I really do. But real estate agents are marketers and market experts, not miracle workers. We analyze market data for our clients, present and discuss their options and – ultimately – trust that the facts will guide our clients to do the right thing. For the most part, that’s the way it works out. Occasionally, it does not.
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