Archive for the 'Sellers' Category
Annapolis Real Estate 2010: Ten Trends and Predictions
January 9th, 2010 Categories: Buyers, Real Estate News, Sellers
Wondering What the Annapolis Real Estate Market is Going to Do in 2010? So Are We
“It’s tough to make predictions, especially about the future.” – Yogi Berra
I’ve spent the last couple of hours – more time than I should have – reading what every blogger and apparent expert thinks the real estate market is going to do in 2010. Some of it is rosy, like stabilizing prices and strong sales. Some it much less so: predictions of many more foreclosures and higher interest rates.
I have no idea whether or not they’re right: most of these things happen WAY above my pay grade. But we – The Moss Haedrich Team - do have our boots in the trenches selling real estate here in the Annapolis area. We notice things, we see trends, so we thought perhaps you’d like to hear about some of the trends we’ve spotted for 2010.
1. Sellers doing less costly improvements. And why not? Why put five grand into replacing kitchen cabinets when a fresh coat of paint will spiff them up just fine? We just listed a home where the seller did just that. They look beautiful. It’s still crucial to make a home look fab prior to a sale. But sellers are getting smart about where they put their dollars in these equity-squeezed times.
2. An early spring market. Maybe because we’re already so busy. Unless we get some terrible weather in the next couple of months, it should be a very active first quarter. First-time and buy-up buyers can get their tax credits if they have a contract by April, so the early rush is on.
3. Buyers getting started earlier with their searches. Each month we talk to about 150 new potential home buyers. It’s not unusual to hear that they’re still 12+ months out on a purchase. They’re researching the market thoroughly, watching home sales and figuring our where the value is. Today’s home buyer is very well educated and they’re using the internet – and Realtors – to help get the information they need.
4. Speaking of Realtors, they’ll continue to be fewer of them – here in Anne Arundel county and everywhere else. The real estate business has changed dramatically in the last few years. It’s become more competitive, technology-driven, and there’s little room for those who haven’t kept up. More and more part timers and dabblers are getting our of the business altogether.
5. The home office is king. Our buyers want them, often two of them. Makes sense: the Great Recession has found more and more people starting businesses and working from home. If you’re selling a home, stage an extra bedroom as a sleek home office.
6. Excellent deals in new construction. We can’t believe what some of the spec and model homes are selling for in the Annapolis area. These subdivisions are dying for occupancy; they’re making great deals and throwing in all sorts of upgrades to get you in. Our new construction buyers are some of the happiest buyers out there.
7. Incredible deals at the high end of the market. This is the slowest segment of the market. Many of these homes have been sitting on the market for more than a year. The prices have nowhere to go but down.
8. First floor master suites and elevators. A lot of today’s baby boomers don’t spring up the steps the way we used to. First floor masters and elevators are hot with many of our buyers.
9. In-law suites. Another sign of the recession: combined households. We just sold a home in Edgewater that had a very large in-law suite, complete with kitchen, bedroom, living room and home office. Potential buyers flocked to see it.
10. Less infatuation among buyers for short sales. Short sale buyers often think they’re going to get a steal. Quite often, they’re getting nothing but frustration. It can takes months to get an answer from a bank about an offer. Buyers are getting fed up.
| Currently No Comments »
What Drives Annapolis Real Estate Sellers Crazy?
September 2nd, 2009 Categories: Sellers, The Realtor's Life
A Number of Things – But Here’s Ken’s Video Post About the ONE THING That Takes the Cake
They’ve actually done surveys to get the public’s opinion about how real estate agents measure up against other professionals. The results, I have to tell you, are not pretty if you’re one of us: in the public’s eye, we rank right up there with used car salesmen.
In our defense, being a Realtor is not an easy job. The hours and demands are many. Still, there’s no excuse for certain behaviors, as I mention here. Have a look, and let me know what you think.
| Currently No Comments »
Has the Annapolis Real Estate Market Stabilized?
August 11th, 2009 Categories: Buyers, Sellers
That All Depends On the Data You Read, How You Interpret It, and How Much – Frankly – You Really Want to Move
That’s the question everyone wants to know the answer to: has the market stabilized? Realtors hear it all the time, but any Realtor who pretends to know the answer is probably telling you something you want to hear.
Which is not to say there’s no reason for optimism both nationally and locally.
The Case-Shiller Home Price Indices released on July 28th showed home values up in 15 of its 20 tracked US markets – the first period of broad growth in home prices in 34 months. (Though on a year-over-year basis, home prices nationally are still down 17%.)
By comparison, the average home sale price in Anne Arundel County during the last 12 months is down 10.82%. That stings, but it’s a far sight better than the national average. And more good news: compared to July of ‘08, July ‘09 saw 491 homes sold in our county – an increase of nearly 20%.
People without jobs or in fear of losing one don’t typically buy homes. Here in Anne Arundel County we’ve seen a jobless rate increase of 2.8% since June of last year. But at 6.9% we are still below the national unemployment rate of 9.4% – yet another plus for the Annapolis real estate market.
So, has the Annapolis real estate market stabilized?
I think we can be guardedly encouraged by the data, so long as we don’t forget that all real estate markets are local – often down to the micro (street) level…and that home values will always reflect that.
Too, we have to accept the fact that it’s impossible to predict how events that play out on the national and world stage will impact our local market.
Data, market trends, statistics – these are important tools we use to guide buyers and sellers who work with us at The Moss Haedrich Team, to help them make good decisions.
For Most of Us, Real Estate Transactions Engage Not Just the Head, But the Heart, Too
“Waiting for the market to stabilize” makes sense, but trying to time the real estate market – like trying to time any market – is risky and may come with a price.
Sure, you don’t have to make that move to San Diego. But what have you gained if you wait 5 years to sell, hoping for the market to recover, only to miss the first 5 years of your grandchild’s life? Or – what if you wait to buy a home until prices slide a little lower, only to find yourself able to afford less home because interest rates have taken a jump?
These are all pieces of the real estate puzzle that need to be factored in when you’re considering a move.
If you’re confused about whether or not this is a good time to make a real estate move, give us a call. We’ll sit down with you, listen to your story and help you to sort things out so you can decide what makes sense for you. No pressure, no obligation. I can be reached at 410-507-7222 or by email at KenHaedrich@gmail.com.
| Currently No Comments »
Here’s How We Sell All Those Annapolis Area Homes
August 6th, 2009 Categories: Buyers, Sellers
It Takes Great Pricing, Great Staging and a Persuasive Agent to Sell a Home in this Market
People often ask us how we’ve managed to sell so many homes in this very tough market.
It’s simple: we know how to price a home and make it look irresistible. And we know the sorts of things buyers need to hear.
Here’s a video of one script we use that’s proven to be quite effective. Enjoy. And if you’d like to hear about the other tools we use to get your home sold, just give me a call at 410-507-7222. We’d love to show you how we can help.
| Currently No Comments »
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.
| Currently 3 Comments »
Is Your Annapolis Real Estate Really IN The Market or Merely ON The Market?
June 23rd, 2009 Categories: One Minute Realtor, Sellers
During Times Like These, There’s a Distinct Difference Between Being IN and ON the Annapolis Real Estate Market: A Video Post
You – or someone you know – has a home for sale and you’re wondering why it’s just languishing there on the real estate vine while other homes are being plucked off like ripe fruit by willing buyers.
There might be any number of reasons why, and it’s time you identified them and got your home IN – not just ON – the market. Maybe watching this video will help.
If you have any questions at all about Annapolis area real estate, or would like to offer feedback about this video or any post on this blog, feel free to call me, Ken Haedrich, at 410-507-7222. Or send me an email at kenhaedrich@gmail.com. Thanks for watching.
(To view the video, click on the link that immediately follows, then click on the video’s play button.) Read the rest of this entry »
| Currently No Comments »
Annapolis Real Estate Sellers: Here’s Why You Should Love the Nosey Neighbors
June 8th, 2009 Categories: One Minute Realtor, Sellers
If They’re Nosey, They Probably Like to Blab, Too. In This Video Post, Ken Explains Why That’s a Good Thing
Are you selling your Annapolis home, or at least thinking about it? If so, I’ll bet you’re wondering about open houses…whether or not they work (something I’ll talk about in an upcoming video)…and the dreaded Nosey Neighbors.
Frankly, you needn’t be concerned – at least that’s what we tell our sellers. Watch this video to find out why.
If you want to talk to me – Ken Haedrich – about the nosey neighbors, selling a home or buying one in the Annapolis area, just call me at 410-507-7222 or email me at KenHaedrich@gmail.com. We have a great team and we’d love to help you.
(To watch the video, click on the highlighted link that immediately follows, then click the video’s play button.) Read the rest of this entry »
| Currently No Comments »
Riva Trace Condos: An Annapolis Real Estate Market Update
May 12th, 2009 Categories: Buyers, Neighborhood Sales & Stats, Real Estate News, Sellers
A Quick Look at How Things are Selling at these Perennially Popular Annapolis Condos
Funny how many people you meet who don’t know about the condos in Riva Trace, have no idea they exist. Perhaps it’s because there’s only one road in and out – no through traffic.
Or perhaps it’s because everyone is distracted by the smart looking townhomes here, too, or the carefully manicured landscaping at every turn.
The Setup: The Riva Trace condo complex is a series of nine, 3-level buildings constructed 20 years ago – though the buildings are so well maintained that they hardly show their age.
The units on the 1st and 2nd levels are a mix of 1- and 2- bedroom homes with about 1,200 square feet. The 3rd floor units are 2- and 3-bedroom homes with lofts, averaging about 1,900 square feet. There are 12 units per building, 6 on each side of two wings.
The Community: The condos are part of the larger Riva Trace community, which has its own community pier and tennis courts. The tree-lined streets and sidewalks are favored by the many residents who enjoy a brisk walk – often with their four-legged companions – almost any hour of the day.
In addition to the condos and townhomes, there are two single family home neighborhoods – Spring Race and Autumn Chase – and a third that Ryan homes is building where the Riva Trace Baptist Church used to stand.
The Condo Market at a Glance
A total of 7 Riva Trace condos have sold in the last year.
Currently there are 5 condos for sale, including a lovely 1 bedroom unit we just listed in building #2706. It’s been beautifully updated and has had custom French doors installed between the living room and sunroom, turning the sunroom in multi-function space you could use as a spare bedroom or office. The list price is $285,000.
The most recent sale was a second level 2-bedroom unit that just went for $287,500 on April 30th, with a $500 seller subsidy. You’d have to go back to September 2008 to find a 3rd level unit that sold; they just don’t come to market that often. That one sold for $330,000.
If You Would Like a More Detailed Snapshot of the Riva Trace Condo Market…
…send me an email at kenhaedrich@gmail.com. I’ll put you on our Riva Trace Condo Hot List. You’ll get not only an email with the most recent listings. But each time there’s an update – a sale, contract, or new listing – you’ll be automatically notified.
Finally, if you’re thinking about selling your condo – or buying one here – give us a call or send us an email. We’ve sold nearly $7,000,000 in property in Riva Trace, so we know the neighborhood quite well.
| Currently No Comments »
If We’re Annapolis Realtors, Then Why On Earth Are We Selling This Home in Alpharetta, Georgia?
April 22nd, 2009 Categories: Real Estate News, Sellers
Well, We Aren’t, Really. But One of Our Clients Is, So We Thought We’d Give Her Home a Little Plug. Besides, It’s Not Everyday We Get to Show You a Home That’s So Gorgeous It’s Been Featured in Several Magazines
So, just in case you or someone you know is moving to the Atlanta area, pay attention – here’s a home that’s eye-poppingly pretty.
The address is 400 Autry Ridge Point, in Alpharetta, within a subdivision called The Falls of Autry Mill, a swim-tennis community. It’s close to all the major highways you’d need to access.
Our client tells us that the community has a clubhouse, lake, 2 swimming pools, 12 lighted tennis courts, and a tennis pro - apparently, they’re serious about their tennis around here. The subdivision has 500 homes, and – she says – there are great schools nearby.
As for the home, I’ll let the virtual tour - one of best one I’ve ever seen – tell the story. I, for one, fell in love with the kitchen. It’s a regular beauty pageant of ultra high-end appliances and finishes, including German-made cabinetry and black honed granite countertops. Really incredible.
Did I mention the home’s heated pool with tanning area and 8-person spa?
If you’d like additional information, email me at kenhaedrich@gmail.com and I’ll send it right along.
| Currently No Comments »
Who Reads This Blog Besides You? A Revealing Look at the Visitors to AnnapolisHomeDigest.com
April 3rd, 2009 Categories: Buyers, Fun Fridays, Real Estate News, Sellers
In Case You’ve Been Wondering Who You Are, I Have Some Answers
I imagine it’s the same with other bloggers, but I find it quite interesting – and instructive – to keep track of who is reading this blog and what you’re reading. For one thing, it helps me figure out what sort of information you want more of. (Just for the record, that’s a generic WHO – other than subscribers, I can’t tell who you are.)
So I make it my business to keep track of what pages you’re landing on when you come here, and the search terms you use to arrive. Often there’s little surprise – blogging about particular neighborhoods, like South River Colony, always gets lots of traffic. And sometimes, plenty of surprise: I still can’t figure out how the person who Googled “sock monkeys for sale in Target” ended up here, but they did.
You Like To Search For Annapolis Area Homes and You’re Smitten With the Fifty Dollar House
Many of you land directly on the home search page of the site, which tells me you’ve probably bookmarked that page for convenience. I’m glad you’re looking, because now’s a great time to buy. Is there a home we can show you?
A ton of you have been searching for news about the Fifty Dollar House, which, sadly, you did not win. Somebody else did, and we’re selling the home for her. Perhaps you’d like to buy it?
When I do a post about home sales statistics for the Annapolis area, that draws a lot of interest, too – I need to do more posts like this – as well as posts on subjects related to the Naval Academy. A number of you used the search term “Plebes no more,” a reference to one long-standing Academy tradition.
Search terms about home staging bring regular traffic because I’ve written about it often. Some people end up here by searching for our team stager, Linda Donnelly - the best in the business. When you use her services to get your home looking perfect, we reimburse you at settlement.
More than a few of you are using search terms like ”trustworthy agent” or “untrustworthy agents” and you’re finding us that way since I published this story. Apparently, finding an agent you can trust is in the forefront of your mind, and it’s a good thing.
I’m afraid I must have disappointed the people who ended up here after searching for “math’s chalkboard”, “new home digest” and “bad stockbrokers.” Google must have been having a bad night when these poor souls were directed this way.
You Like a Good Laugh…
…which explains why some of you are searching for bad MLS photos. We have some doozies.
Not surprisingly, lots of you found us by searching for Keller Williams Annapolis or Keller Williams Culture, our culture – we believe – being one of the things that sets us apart as a company.
I can’t tell who you are, specifically – but I can often tell where you work. Some of you are affiliated with institutions of higher learning, which makes me think we attract a smart crowd. I like that.
And many of you work for large government entities. I won’t say which ones, because if you’re reading this blog instead of delivering mail, eavesdropping on bad guys or searching for cures to nasty infectious diseases, that’s between you and your boss.
As for the person who just yesterday typed “do you like living in Annapolis” into the Google search engine, I – for one – love it.
| Currently No Comments »
; ?>/images/MatoChiclet.gif)
