Archive for the 'One Minute Realtor' Category
Less You, More Them: Why Removing Buyer Distractions Makes Home-Selling Sense
March 13th, 2008 Categories: One Minute Realtor, Sellers
A Cautionary Tale, In Which We Begin at a Bungalow For Sale on the South River in Annapolis
So there we were, previewing a home for a client who wants to buy somewhere on the water in Annapolis. Walking in the front door, my attention was instantly seized by a Presidential citation on the fireplace mantle - one of many citations.
Clearly, the person who lived there was proud of the fact that his tenure in the Secret Service had been officially recognized by the Oval Office.
I was smitten, too! Had the owner flown with the Prez on Air Force One? What sort of heat did he pack when he was on duty? Did he wear those cool shades and earpieces like they do in the movies? It was fascinating to consider.
And a complete waste of my time, with respect to why we were there: to see if this home was a good match for our Annapolis waterfront buyer.
The point? If You Want to Sell Your Home, Then Depersonalize It
You want buyers looking at your house, not a museum of personal photos, collectibles, family history, stuffed animal trophies and other distracting items.
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Annapolis Area Home Sellers: Are You Chasing the Cheese When You Should Be Catching a Wave?
March 10th, 2008 Categories: One Minute Realtor, Sellers
Two of our listings, in two very different prices ranges, have gone under contract in the last few weeks, one in 29 days, the other in 39. Aside from beating the average days on market handsomely, they had a couple of things in common: they were in great condition and showed beautifully.
And they were priced right on the money, where the market told us they should be.
Finding the perfect price for a home is part science, part intuition based on experience. To be sure, nobody in this business gets it right all the time.
Agents know, however, that even if we miss the bulls-eye, the market will soon tell us: by the number of showings, by feedback from other agents and their clients, by the number of days on market, and by recent sold comparables.
Sometimes The Market Speaks and The Seller Doesn’t Listen
For example: after 3 months on the market, Sally Realtor is convinced that her client’s home should be priced at $495,000 if the client really wants to sell. She tells
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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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“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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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 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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Wanted: Annapolis Area Realtor, Must Perform Miracles
January 31st, 2008 Categories: One Minute Realtor, Real Estate News, Sellers
You’ve probably heard that sales of St. Joseph statues are brisk these days. Lore has it that if you bury a statue of the saint upside down, facing the street, you’ll sell your home quickly.
According to one online source, St. Joseph’s reputation as a real estate deal maker can be traced to St. Teresa of Avila, who - back in the 1500’s - needed land for a new convent. Lacking sufficient funds and a decent mortgage broker who could find her a competitive rate on a 30-year fixed, she prayed to St. Joseph to intercede, burying medals with his likeness all around the desired parcel of land. It worked, and the land was hers.
Today you can find St. Joseph “kits” all over the web, including places like Catholic Supply. Most include a statue, instructions, and a prayer card for the official burying ceremony. A “deluxe” kit includes all that, plus a plastic burial bag and a St. Joseph house key chain. It’s unclear whether the deluxe version is designed for a faster sale, or higher-end homes, or both.
Heck, if the spirit moves you, go ahead and give St. Joseph a try. Meanwhile, The Moss Haedrich Team will continue to give it our earthly best with the homes we sell. We’re biased, but we think we have the most results-driven home marketing program in the Annapolis area. We expose our listings to millions of potential buyers online, and are now using only the best professional high-resolution photography with virtually all of our new listings. Have a look at our latest here.
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Finally, Some Good News For Annapolis Area Homebuyers and Owners: We Have No Bad Neighbors!
January 22nd, 2008 Categories: Buyers, One Minute Realtor, Real Estate News
Saw a report on The Today Show this morning about the latest online trend: cyber-snitching. I wasn’t aware of the term prior to this but apparently it’s all the rage, that is, going online to tattle-tale on someone for every offense from cheating on tests to driving poorly.
The Today Show guest was the founder of a new site called Rotten Neighbor, a sort of clearinghouse for - well - rotten neighbors. If the neighbors scream, smell, can’t control their barking dogs, or play bongos all night long, you can post a comment about them here, air their dirty laundry address and all.
It’s understandable you’d want to know something about the neighbors before moving into an area. We always encourage homebuyers to knock on doors and talk to people in the area - other homeowners, as well as store owners, the police, whomever - if they want firsthand feedback.
But posting neighbor complaints online seems a little vindictive and an option of last resort. For Pete’s sake, first try to be civil, talk to your neighbors, get to know them, send letters, use police intervention - anything to keep the peace and reach an understanding. (And if you can figure out a civil way to tell your neighbors they smell, you’re a better diplomat than I am.) Going so public with neighbor complaints can only fan the fires of resentment.
Of course, I couldn’t resist plugging in some Annapolis area zip codes and - just as I suspected - there are no bad neighbors in Annapolis. At least none that I could find. In fact, the site wasn’t responding all that well; maybe they were swamped with new complainers from this morning’s publicity. I prefer to think that it’s a regular neighbor love-fest out there in this wonderful city by the Chesapeake Bay.
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Attention Annapolis Homebuyers: There’s Nothing To Be Nervous About
January 3rd, 2008 Categories: Buyers, One Minute Realtor
Homebuyers - here in the Annapolis, Maryland area and elsewhere - are nervous. You might guess otherwise since interest rates are still historically low, inventory abundant, and great deals more plentiful than traffic on the Bay Bridge on a Friday afternoon in August.
Homebuyers should be elated! But like I said, they’re nervous because people who don’t know them, don’t send them Christmas cards and who, apparently, have foolproof crystal balls are making them that way. So buyers are waiting, like the pundits have warned them, because they think the best is yet to come: the best homes, best interest rates, best prices. Pundits like it when people listen to the stuff they say because, well, they’re getting paid to pund and it makes them look very smart.
No Matter What You Hear About the Annapolis Area Real Estate Market, Homes Are Always Being Bought and Sold
Waiting, we’ve all been taught, is a virtue: Good things come to those who wait, and all that. But from where we stand, on the front lines of the real estate trenches, we think Abe Lincoln’s take is perhaps more instructive: “Things come to those who wait, but only the things left by those who hustle.” I can think of at least three recent situations where a buyer fell in love with a home but decided to wait before making an offer, expecting that the price would drop. Didn’t happen. In each case, the home was snapped up by another buyer. Do you want to buy the home you’ve fallen in love with? Or do you want the market’s leftovers?
“Waiting” or otherwise attempting to time the market is a risky homebuying strategy. It assumes an unknowable direction of the market, and fails to account for many other considerations, like your schedule and timeframe, the tax benefits and emotional security and stability that comes with homeownership. Don’t discount those things. Pay less attention to the media pundits, and more to what YOU need, and you’ll do just fine. This is a great time - in the Annapolis area and elsewhere - to be a buyer.
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