Happy New Year!

I want to wish all of you health and happiness in the coming year, and to thank you for making 2011 my best year ever! I have truly enjoyed working with all my clients over the past year and am looking forward to another great year in 2012. 


The real estate market still has its challenges but this past year has shown that hard work, patience and a positive attitude are the keys to finding success in a difficult environment. For instance, in 2011, 30% of my sellers received multiple offers on their homes!


Despite all of the sophisticated marketing tools and the lightening speed of the internet, last year I had several transactions that took place the old fashioned way - putting buyers and sellers together through word of mouth and having my ear to the ground in the local real estate community. 


If you’re thinking of buying or selling in 2012, regardless of where you are or where you are going, please call me, text me, email me, tweet, or post on my Facebook wall to discuss your next move! 

Dear Clients and Friends,

I want you to be the first to know about my most recent sale in Mount Washington.

Congratulations to Mike and thank you for choosing me as your Realtor for both your home sale and your home purchase.

Thank you also to Sara for referring Mike to me- Referrals are the BEST compliment anyone could give me!

If you are in the market to buy and/or sell give me a call, I would be happy to help.

Market News

The number of days on the market before a property is sold is significant information for a buyer when deciding on an offering price. For example, if a buyer were interested in two very similar properties - one that had been on the market for 210 days and the other for only 10 days - the buyer would make a lower offer on the one for 210 days thinking that the seller is probably desperate to sell and would accept a lower offer whereas the other seller would not take a lower offer yet. Buyers may also feel that there might be something wrong with the house or someone else would have already purchased it. For educated buyers, usually what is "wrong" is the price is higher than the buyers' perception of value of the house.

What does that mean for sellers? Every day a property is on the market the price goes down in the minds of buyers. That is why a property sells at its highest price in the first days of exposure to the market. There is another reason for that fact. The buyers most ready to make an offer in the first days are the seasoned buyers who have been educated about the market by a REALTOR® and can act immediately because they have the cash or a mortgage pre-approval letter. If the price is too high initially, they move on and wait for another to come on the market. Sellers should therefore position their property to sell when it first hits the market.

When buyers work with me, we discuss total days on the market as they contemplate an offer. When I am representing sellers, I assist them in understanding that first days of exposure usually generate the highest offering prices.

Charming Unique, & Architect Designed Patterson Park Listing!

I have a new listing coming up on the market Monday 9/8!!

~This home is a work of art, lovingly cared for, and oozing with character~
Two skylights shower every room with natural light, entertain on your rooftop deck and enjoy romantic evenings in your beautifully landscaped courtyard. Airy & open loft feel upstairs with two rooms separated by a light & bright bath w/ claw foot tub. All this and within walking distance to Patterson Park, Creative Alliance, & located in the Highlandtown Arts & Entertainment District. This one-of-a-kind property is a must see!

• Master Bedroom with office/addtl. bedroom, 1.5baths
• Central Air/Gas heat
• Hardwood floors throughout
• Original stained glass front window
• Exposed brick throughout
• Partially finished basement
• Roof top deck w/ amazing view of the city
• Fenced rear courtyard w/ beautiful landscaping
• Full bath w/antique pedestal sink & claw foot tub
• Location! Location! Location!
  

Call me for a private showing or come visit me at the Broker's Open on Wednesday 12-2:30pm.

The Real Estate Investment Benefit

In the first half of this decade, most areas in the Mid-Atlantic experienced a substantial increase in home prices. So far in the second half of the decade, most areas are experiencing a decrease in home prices due to the oversupply of houses on the market. Let's say someone purchases a house in 2000 for $300,000, and by 2005 it appreciates to a market value of $500,000. Today, after the recent decrease in the market, that house might sell for $400,000, and the seller would see $100,000 net appreciation. If this seller only remembers the $500,000 at the peak of the market, the seller may think they lost $100,000 instead of gaining $100,000 from the $300,000 originally paid. In fact, homeowners who have purchased several houses over the years should look at the cumulative equity gains for all of the purchased houses. For example, if you bought your first house years ago for $150,000 and sold it for $250,000 to buy a $400,000 house that appreciated and sold for $600,000 to buy an $800,000 house in 2005, you would see a total gross equity gain of $100,000 for the first house and $200,000 for the second house for a total of $300,000 net appreciation. For an investment in the commodity of residential real estate, $300,000 net appreciation is a significant gain. In today's market, if you sold that last house purchased for $800,000 for a price of $680,000 (15% less or a "loss" of $120,000), your total real estate equity gain would still be $180,000. As a commodity, real estate prices go up and down, but historically over time houses have proven to be an excellent investment as well as contributing to a satisfying lifestyle. Although the primary purpose of owning a home is the lifestyle it brings, the secondary benefit is the investment potential. Sellers should look at the investment benefit over a longer period of time to see the gains that eventually come from real estate.

Market News

Today, many sellers are unknowingly contributing to the loss of value of their own houses on the market. This happens when sellers hold on to the emotional ties of their asking price which oftentimes is unrealistically high. Current market buyers have done their homework and know when to take action on a property that is priced right. When sellers are unsuccessful in getting their house sold because of price, they are also contributing to the continuation of a downward price spiral. Here's why: Real estate is a commodity in the marketplace. When there is an oversupply of inventory, prices go down. When sellers price their house over what knowledgeable buyers know is the reasonable current market price, the property stays on the market continuing the oversupply. In today's market, sellers who understand that real estate is a commodity have priced correctly and are seeing the result as closed sales in days/weeks while those priced above the market, linger for months and some for years. If more sellers would recognize the economic basics of supply vs. demand and position their properties at prices to motivate the pool of buyers to action, the supply of houses on the market would decrease more rapidly creating a lower supply of inventory eventually resulting in price increases. Smart buyers are looking for properties positioned correctly and are taking action. Smart sellers should enlist the services of an agent who understands how the market is working today. This will help the seller to know when to accept a reasonable offer even it is not what they hoped for originally (emotional price). To see what is happening in your county, check out the current activity graphs included here. If you are a potential seller, buyer or just curious, I am available to give you an understanding of what's working in the market of your area.

Don't Let Your House Get Missed

Keep in mind when your house is listed on the MLS every item on the page is a possible search for a homebuyer.

If I am working with a buyer who tells me that the MUST have central air then I will make that a criterion for their search.

If the information is not filled out on the MLS or inaccurate then your house gets missed. This is why it is so important that you ask for a copy of the listing from your Realtor & make sure to provide your Realtor with as much information as possible.

I have even searched for properties using specific neighborhoods and then find that some have been misspelled, for instance “Hamden” rather than “Hampden”, once again causing this home to be kept from the search.

These may seem like minor items but they can be what is keeping your home from “SOLD”.

My Listing Published in the Baltimore Examiner 8/21 Edition!

My Listing at 3851 Roland Ave. was given a beautiful spread in the 8/21 edition of the Baltimore Examiner Real Estate Edition!

I am so glad that my work has paid off in getting this published.

Check out http://edition.pagesuite-professional.co.uk/Launch.aspx?referral=other&refresh=3d1B0Zj8Y60g&PBID=70f14c6d-ad65-4ef1-95cb-e954e73d2842&skip= to see for yourself.

People have already been calling and making appointments not to mention the great feedback Janet Morningstar (seller) has been getting from her neighbors.

The Housing and Economic Recovery Act of 2008

The Housing and Economic Recovery Act of 2008 has just been signed by President Bush.
Drawing much attention are the provisions for the first time home buyer in this bill. The first time homebuyer, under the new law, will be eligible for up to $7,500 in tax credits. This is more like an interest free loan that must be paid back over 15 years. When purchasing a first home this can be very helpful none-the-less. If the tax credit is not fully paid when the property is sold, selling for more than the original price, the outstanding balance is due at the time of the sell.
The eligibility requirements for the bill include home ownership status for first time buyers, citizenship, and income limitations. According to the law, a first time home buyer is any buyer who has not owned a home during the last three years.
The tax credit limitations include the filing status of single or head of household being able to claim the full $7,500 if the adjusted gross income is under $75, 000. These persons who earn between $75,000 and $95,000 can claim a partial first time home buyer tax credit. For the status of married filing jointly the income limit is $150,000 to receive the full credit and between $150,000 and $170,000 can claim the partial first time home buyer credit. Tax filers with adjusted incomes greater than the limits shown are not eligible for the tax credit at all.
Homes purchased and closed on between the dates of April 9, 2008 and July 1, 2009 by first time home buyers will receive the tax credit if they are eligible. In addition, if the first time home buyer who qualifies for this credit pays less than $7,500 in income taxes the government will refund the difference. Tax payers who receive tax refunds will have the homebuyer tax credit added to their refund. This tax credit can be claimed on the 2008 or 2009 returns depending on the year the home closes.
The law offers provisions for low income housing and seniors as well; each with their own requirements and regulations. The bill is an effort to help the housing crisis and the economy on the whole.