The Right Price is The Right Move

I just read this article in The Baltimore Sun about the importance of the price you list your home for and it is so on point. It’s extremely important to start with the right price when selling your home. 

Starting at a price that’s too high will turn off buyers instantly. "Why is this house listed for $250k when this one with the same number of bedrooms/ bathrooms and similar size, updates, etc. is listed for $230k?" If homes most similar to yours in your neighborhood are selling for an average of $235k and you list for $250 buyers may just write your home off without ever going to see it. Not to mention you may eliminate a whole group of buyers who are only looking up to a certain price in a certain neighborhood (they most likely have an idea what homes in the area are selling for- or at least their agents will). So you're home will not even appear in their search.

Your Real Estate agent should be able to figure out just what that “right price” is for your home. There are many factors that go into choosing a good list price. Condition of the home, size, updates, neighborhod, but most important are the compariables. Comps provide you with knowledge of what other homes near you are selling for- in other words, what buyers are willing to spend.

When interviewing agents, go with an agent who seems to know the market and provides you with the best tips for selling your home. Don’t choose an agent just because they gave you the highest list price. What are the comps? Is the price realistic? Have them explain how and why they decided on that price. 

If you have any questions, feel free to contact me: magan@magandrane.com

Maintaining Home Cleanliness While on the Market

A clean home goes a long way in catching a buyers interest. It shows that the seller has loved and maintained their home over the years. 

-Stay on top of chores! Make them part of your daily routine. Make the bed. Wiped down the counters. Dust. Vacuum and/or sweep. Everyday. 

-Clean messes when you see them instead of making a note to do it later.

-On the same note: clean up after yourself right away! Don't let dishes sit in the sink, etc. Doing tasks as needed helps to avoid having a ton of chores to do at one time- i.e. 30 minutes before a showing.

-Keep everything in it's place when not in use. If you use something- put it back immediately after use. This helps to prevent clutter from piling up. 

-De-clutter before listing. Get rid of things you don't need anymore and put items in storage that you don't use often. This will open up your home and make it easier to stay on top cleaning since there will be fewer things to find a place for and therefore less to worry about.

You'll be ready to show at any moment!! Happy selling!

Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date. Housing Inventory Snapshot December 28, 2014 Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Allegany County, MD Single Family under $180K $91,435 $88,900 183  / 178 Single Family over $180K $292,747 $260,000 249  / 372 Condo/Townhome under $300K $78,605 $69,000 353  / 8 Anne Arundel County, MD Single Family under $500K $323,395 $325,000 128  / 136 Single Family over $500K $964,960 $699,000 184  / 193 Condo/Townhome under $300K $183,900 $204,500 124  / 105 Condo/Townhome over $300K $439,530 $385,000 112  / 121 Baltimore City, MD Single Family under $500K $199,891 $189,900 122  / 113 Single Family over $500K $878,967 $659,900 163  / 130 Condo/Townhome under $300K $108,147 $94,500 135  / 119 Condo/Townhome over $300K $469,657 $384,000 114  / 94 Baltimore County, MD Single Family under $500K $248,896 $229,900 125  / 118 Single Family over $500K $929,143 $695,000 174  / 116 Condo/Townhome under $300K $120,976 $114,500 129  / 115 Condo/Townhome over $300K $449,491 $377,000 106  / 92 Calvert County, MD Single Family under $500K $296,049 $293,763 162  / 188 Single Family over $500K $741,590 $599,900 230  / 218 Condo/Townhome under $300K $220,217 $229,900 162  / 162 Condo/Townhome over $300K $376,863 $330,000 313  / 31 Caroline County, MD Single Family under $500K $195,862 $180,000 231  / 217 Single Family over $500K $793,928 $749,900 184  / N/A** Carroll County, MD Single Family under $500K $313,234 $309,000 138  / 135 Single Family over $500K $733,990 $643,300 178  / 113 Condo/Townhome under $300K $177,230 $179,900 103  / 112 Condo/Townhome over $300K $352,586 $330,000 109  / 109 Cecil County, MD Single Family under $500K $250,267 $245,000 159  / 148 Single Family over $500K $898,888 $699,900 278  / N/A** Condo/Townhome under $230K $131,422 $130,000 122  / 138 Charles County, MD Single Family under $500K $305,246 $299,950 145  / 148 Single Family over $500K $842,172 $614,900 212  / 104 Condo/Townhome under $300K $174,243 $179,900 112  / 112 Condo/Townhome over $300K $319,393 $319,990 100  / 2 Dorchester County, MD Single Family under $500K $187,160 $159,900 226  / 210 Single Family over $500K $1,284,655 $659,000 314  / 53 Condo/Townhome under $200K $119,810 $119,900 160  / N/A** Frederick County, MD Single Family under $500K $307,411 $309,900 140  / 126 Single Family over $500K $782,832 $630,000 150  / 213 Condo/Townhome under $300K $204,782 $204,900 107  / 113 Condo/Townhome over $300K $383,072 $379,900 100  / 87 Garrett County, MD Single Family under $500K $206,326 $165,000 213  / 182 Single Family over $500K $815,836 $644,800 279  / 162 Condo/Townhome under $300K $179,660 $190,000 283  / 176 Condo/Townhome over $300K $396,483 $349,000 250  / N/A** Harford County, MD Single Family under $500K $296,692 $299,000 135  / 138 Single Family over $500K $741,792 $632,000 231  / 183 Condo/Townhome under $300K $175,529 $171,900 117  / 140 Condo/Townhome over $300K $413,857 $359,990 172  / 194 Howard County, MD Single Family under $500K $368,526 $379,000 111  / 113 Single Family over $500K $818,663 $709,900 176  / 119 Condo/Townhome under $300K $212,882 $225,000 98  / 112 Condo/Townhome over $300K $414,749 $399,990 77  / 79 Montgomery County, MD Single Family under $1M $539,379 $499,900 123  / 106 Single Family over $1M $2,008,052 $1,625,000 147  / 114 Condo/Townhome under $600K $282,213 $269,999 93  / 97 Condo/Townhome over $600K $1,156,734 $725,000 120  / 80 Prince Georges County, MD Single Family under $500K $286,608 $269,000 125  / 130 Single Family over $500K $666,060 $599,990 170  / 85 Condo/Townhome under $300K $150,773 $150,000 93  / 139 Condo/Townhome over $300K $465,272 $424,180 84  / 78

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Sincerely,     Magan Marie Drane, Realtor®, ABR® Direct (410) 493-6854 Office (410) 235-4100 Fax (410) 558-6761 Magan@MaganDrane.com www.magandrane.com Coldwell Banker Residential Brokerage  Listing Agent & Buyers Agent Since 2005~ Thank you for Making Over 11 Million in Sales for 2014 Possible! ~

Dear Clients & Friends- THANK YOU!

‘Coming Soon’ Listing Status Now Available on MRIS!

This is great news for potential home sellers! Agents will to able to enter their listing’s information up to 21 days in advance of the listing becoming active. New listings can generate buzz while sellers are getting the home ready to show without accruing Days on Market. As an agent, I'll be able to add photos, documents and more to prepare a listing so that it is fully marketable the moment it goes Active. Buyers and sellers alike will be able to make informed home buying and selling decisions based on homes currently on the market, as well as future listings.

Things keep in mind: 

-Only properties with a listing agreement and seller’s permission may use the Coming Soon status. 

-Properties are not to be shown while under the Coming Soon listing status.

-Properties must be ready within 21 days. After 21 days they will automatically switch to ‘Active’. A listing that was once under the Coming Soon status cannot revert back to the Coming Soon status.

Looking to buy or sell? Have questions? Contact me today!

magan@magandrane.com

410-493-6854

Housing Inventory Snapshot: Novemeber

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date. Housing Inventory Snapshot November 27, 2014   Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Allegany County, MD Single Family under $180K $92,807 $89,900 161  / 180 Single Family over $180K $293,470 $259,903 234  / 187 Condo/Townhome under $300K $82,725 $70,000 284  / 163 Anne Arundel County, MD Single Family under $500K $325,691 $329,000 116  / 121 Single Family over $500K $962,293 $699,900 165  / 191 Condo/Townhome under $300K $189,584 $214,900 117  / 108 Condo/Townhome over $300K $435,995 $379,990 109  / 124 Baltimore City, MD Single Family under $500K $203,766 $195,000 118  / 129 Single Family over $500K $882,088 $649,000 148  / 192 Condo/Townhome under $300K $109,735 $93,000 123  / 116 Condo/Townhome over $300K $476,979 $395,000 97  / 81 Baltimore County, MD Single Family under $500K $252,320 $234,900 116  / 130 Single Family over $500K $929,332 $694,500 156  / 133 Condo/Townhome under $300K $122,823 $115,000 116  / 118 Condo/Townhome over $300K $453,490 $384,000 90  / 82 Calvert County, MD Single Family under $500K $300,151 $299,500 147  / 186 Single Family over $500K $740,487 $599,900 203  / 61 Condo/Townhome under $300K $223,812 $231,990 160  / 123 Condo/Townhome over $300K $377,841 $332,900 278  / 190 Caroline County, MD Single Family under $500K $195,980 $182,000 216  / 176 Single Family over $500K $827,517 $750,000 199  / N/A** Carroll County, MD Single Family under $500K $317,458 $314,900 124  / 134 Single Family over $500K $736,092 $649,000 156  / 156 Condo/Townhome under $300K $184,175 $184,500 94  / 113 Condo/Townhome over $300K $344,896 $330,000 88  / N/A** Cecil County, MD Single Family under $500K $250,116 $249,900 149  / 132 Single Family over $500K $861,878 $699,900 242  / 168 Condo/Townhome under $230K $131,277 $130,000 100  / 110 Charles County, MD Single Family under $500K $309,455 $308,995 131  / 134 Single Family over $500K $851,708 $625,000 197  / 90 Condo/Townhome under $300K $169,080 $155,000 101  / 109 Condo/Townhome over $300K $322,112 $319,990 100  / N/A** Dorchester County, MD Single Family under $500K $192,129 $159,900 225  / 173 Single Family over $500K $1,214,751 $799,000 292  / N/A** Frederick County, MD Single Family under $500K $313,443 $319,900 128  / 124 Single Family over $500K $781,965 $639,990 137  / 164 Condo/Townhome under $300K $206,918 $211,000 99  / 109 Condo/Townhome over $300K $378,704 $374,990 92  / 90 Garrett County, MD Single Family under $500K $202,594 $167,700 198  / 217 Single Family over $500K $794,026 $644,800 275  / 132 Condo/Townhome under $300K $177,808 $188,800 268  / 176 Condo/Townhome over $300K $432,062 $349,000 233  / 159 Harford County, MD Single Family under $500K $299,945 $299,000 124  / 126 Single Family over $500K $744,835 $635,000 210  / 210 Condo/Townhome under $300K $179,907 $174,900 106  / 135 Condo/Townhome over $300K $412,040 $359,990 156  / 169 Howard County, MD Single Family under $500K $370,098 $379,000 98  / 104 Single Family over $500K $794,567 $699,990 157  / 149 Condo/Townhome under $300K $212,982 $225,000 92  / 100 Condo/Townhome over $300K $406,779 $379,990 76  / 83 Montgomery County, MD Single Family under $1M $547,203 $514,900 108  / 97 Single Family over $1M $1,972,661 $1,595,000 136  / 121 Condo/Townhome under $600K $292,608 $285,000 84  / 92 Condo/Townhome over $600K $1,080,640 $724,990 109  / 79 Prince Georges County, MD Single Family under $500K $288,901 $274,900 114  / 109 Single Family over $500K $667,899 $599,900 167  / 144 Condo/Townhome under $300K $155,852 $159,000 95  / 112 Condo/Townhome over $300K $461,837 $424,180 62  / 124

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Sincerely,     Magan Marie Drane, Realtor®, ABR® Relocation Expert Direct (410) 493-6854 Office (410) 235-4100 Fax (410) 558-6761 Magan@MaganDrane.com www.magandrane.com Coldwell Banker Residential Brokerage

Protect Your Pipes as the Cold Weather Settles In!

It's December, the cold weather is here to stay... for a few months at least. With the cold comes freezing pipes and the possibility of water main breaks!

The Baltimore City Department of Public Works has this to say about the effect of these lower temperatures on our pipes:

"Water mains and water meters can freeze when the temperature remains below 25 degrees for extended periods of time. That can pose a threat to water service, as can temperatures that dip in and out of freezing, which causes the ground to buckle and sometimes bends and breaks water lines.

"Last winter we saw hundreds of broken water mains in January and February, inconveniencing our customers and stretching our maintenance crews and contractors," said Director Chow. "We are already seeing an increase in water main breaks, so our customers should be sure they are prepared for winter's challenges."

Here are a few tips to help protect your water lines during periods of cold weather:

• Insulate pipes located in unheated parts of your house. This is especially a good tip for those who have had frozen pipes in the past.
• Let a thin stream of cold water run from a basement faucet. The stream should be a continuous flow, about the thickness of pencil lead. This water can be caught in a bucket and used later as laundry or dish water.
• If a pipe should freeze, gently warm it with hot air from a blow dryer at the point where it enters the house.
• Be sure you know the location of the water shutoff valve in your home. Check it periodically to ensure that it works properly.
• Be sure to shut off water to outside faucets.
• Periodically monitor your sump pump. A frozen drain pipe could result in a flooded basement.
• Keep bottled water on hand. Figure on needing a gallon of water per person per day.

The Department of Public Works maintains outdoor water lines up to and including the meter. For water emergencies call 311 or 410-396-5352 in Baltimore County.

Water lines running from the meter to the house, as well as internal plumbing, are the responsibility of the property owner. Check with your homeowners insurance carrier to see if your interior pipes are covered in the event they freeze and rupture."

http://moncs.baltimorecity.gov/Home.aspx

These are important tips to remember every year when the temperature drops.