Weekly SOLD stats- week ending 09/29/2012

Here’s your weekly update for the week of Sept 23-Sept 29 for Frederick and Washington Counties.

  • 107 properties closed – 75 in Frederick County and 32 in Washington County
  • The average sales price Frederick County $275,100
  • The average sales price Washington County $157,156
  • 80 of the 107 were traditional sales, 14 were short sales, and 13 were foreclosures
  • Average days on market was 65

Are there other stats for Frederick or Washington county that you would be interested in seeing? Contact me at 240.233.8818 or email me and let me know.

Weekly SOLD stats- week ending 09/22/2012

Here’s your weekly update for the week of Sept 16-Sept 22 for Frederick and Washington Counties.

  • 71 properties closed – 50 in Frederick County and 21 in Washington County
  • The average sales price Frederick County $284,098
  • The average sales price Washington County $120,186
  • 47 of the 71 were traditional sales, 17 were short sales, and 7 were foreclosures
  • Average days on market was 76

Are there other stats for Frederick or Washington county that you would be interested in seeing? Contact me at 240.233.8818 or email me and let me know.

Weekly SOLD stats- week ending 09/15/2012

Here’s your weekly update for the week of Sept 9-Sept 15 for Frederick and Washington Counties.

  • 41 properties closed – 27 in Frederick County and 14 in Washington County
  • The average sales price Frederick County $308,363
  • The average sales price Washington County $175,936
  • 36 of the 41 were traditional sales, 3 were short sales, and 2 were foreclosures
  • Average days on market was 59

Are there other stats for Frederick or Washington county that you would be interested in seeing? Contact me at 240.233.8818 or email me and let me know.

Washington County Maryland Real Estate Market – Distressed Sales vs. Regular Sales YTD August 2012

Yesterday I posted about what is going on with Frederick County short sales and foreclosures,and today I will show you the stats for Washington County short sales and foreclosures. The bank mediated numbers shown in the first chart includes both short sales and foreclosures.

 

Bank mediated sales breakdown into short sales vs. foreclosures

 

Median home price compares in bank mediated vs. regular sales

Average Days on Market bank mediated vs. regular sales

Frederick County Maryland Real Estate Market – Distressed Sales vs. Regular Sales YTD August 2012

The final numbers for Frederick County short sales and foreclosures for August are in. The bank mediated numbers shown in the first chart includes both short sales and foreclosures. The chart after that shows you how the bank mediated sales breakdown into short sales vs. foreclosures.

The price gap between regular sales and bank mediated sales increased in August. In July there was a swing of almost $80,000 between the two, and for August the gap increased to over $100,000.

Stop! and step away from that New Homes Guide

You drive around the Frederick and Hagerstown area and see all those New Home Subdivision signs.  You pick up a brochure and see all the pretty floorplans and all the features you can customize.  And you think “Wow, I have to have a new house!”

New homes are great, that’s why I worked selling them. You get to pick your upgrades and features. You get a house that no one else has even lived in and is all shiny and new. You get to be part of the building process.  Yippee!!!

You also get to deal with the new home builder and their staff during the construction process, and sometimes you may not quite understand the questions they are asking, or what they are trying to explain to you.  You get to hear that there is no use in having a home inspection for new construction, I mean the house is new, what could be wrong?  Sometimes you get to let punch-out guys into your home for months after you’ve moved in because there is a problem that wasn’t fixed before closing.  I’ve actually seen new homes with rooms so full of nail pops that when the owner marked them for construction staff, the blue tape looks like you were plotting stars in the sky. Of course the builder fixed this, but it took persistence in reminding them again and again that it was not a normal issue. Home builders want to deliver a good product and do their best to do so, but sometimes there needs to be a little nudge to fix things that slipped past their watchful eye.

Some buyers get swept away with the NEW HOME EUPHORIA and don’t think about the big picture. Do you know which upgrades and features could be the biggest payoff in the end?   It’s more important to opt for the structural upgrades when building the house, then trying to do it at a later date. At a later date it is much easier to spruce up the cosmetic aspects of the house. So it’s a better idea to consider that bump-out or electrical wiring for overhead lights or fans, than it is to get that granite countertop when building.  You don’t know how many times people have been shocked when their home was complete and there were no overhead lights in the bedrooms! Yes, the model had them, but didn’t you see that $250 fan wiring option on the upgrade list? Buyers can sometimes be unclear on what are upgrades in the model and what won’t be making an appearance in your new home unless you shell out the bucks to make it happen.  Do you think you are getting those great 42′ maple cabinets in the kitchen? The huge soaker tub in the master bath?  The hardwood or ceramic floor in the kitchen?  The full-sized windows in your walk-out basement?  You better make sure…

Some people think that if they are buying a new house, then there is no need for an agent. That is not true. Having an agent when you are buying a new home will be an amazing help to you (and since I have worked with New Home Builders and I have worked for a New Home Builder so I know which questions need to be asked.) Do you have time to go to construction meetings, check on the progress of the house, touch base with the Mortgage Company, Title Company, Closing Company, Builder Representatives, and still have time to work a 40 hour week and spend time with your friends and loved ones?  Why would you even want to deal with all this stuff when you don’t have to! Speak with an agent, let them research Frederick and Hagerstown area homebuilders, come up with a short list that fit your needs, then go and visit the builders together so you can be properly registered.  Proper registration is important when working with an agent because some homebuilders will exclude your agent’s participation if they don’t go with you on the first visit and register you as a  client.  Then just pick out your home plan, exterior elevation, colors, features, upgrades, and then step back and let the your agent handle all the day to day stuff from there.

One day this week I had the joy of overhearing a fellow coworker speak of now former clients who decided to build a new home—without their agent’s help.  They rushed to the homebuilder and asked “well since we don’t have an agent that means we get a price reduction right?” The salesperson laughed them out of the office. 

PS. You should ALWAYS get a home inspection, regardless if the house is new or not!!

Frederick and Washington Counties Real Estate Market Update August 2012

The numbers are in for August, and the number of SOLDS is virtually unchanged compared to the same time last year in the North Region which includes Washington and Frederick Counties. In August we saw 690 SOLDS in our region vs. 693 for August 2011. These numbers are up slightly from the July numbers, when we saw 652 SOLDS.

 

Median home prices were up to $180,000 from $175,750 in July.  That’s nice growth from a 3 year low of $145,000 in January of this year, but we are still a long way from the 5 year high of $236,325 in September 2007.

Another positive sign is the average days on market.  We are down to 96 days from a 5 year high in February 2009 of 149 days.

Weekly SOLD stats- week ending 09/08/2012

Here’s your weekly update for the week of Sept 2-Sept 8 for Frederick and Washington Counties.

  • 27 properties closed – 21 in Frederick County and 6 in Washington County
  •  The average sales price was $228,688
  • 20 of the 27 were traditional sales,  5 were short sales, and 2 were foreclosures
  • Average days on market was 57

Are there other stats for Frederick or Washington county that you would be interested in seeing?  Contact me at 240.233.8818 or email me and let me know.

Weekly SOLD stats- week ending 09/01/2012

Here’s your weekly update for the week of Aug 26-Sept 1 for Frederick and Washington Counties.

  • 93 properties closed – 64 in Frederick County and 29 in Washington County
  •  The average sales price was $269,603
  • 74 of the 93 were traditional sales,  12 were short sales, and 7 were foreclosures
  • Average days on market was 67

Are there other stats for Frederick or Washington county that you would be interested in seeing?  Contact me at 240.233.8818 or email me and let me know.

Photos don’t matter. No one buys a home from the internet!

I cannot tell you how many times in the past decade I have heard this.  From other agents, from sellers, from the guy at the grocery store-though I think now he may not have been a qualified expert so maybe we should disregard  his opinion.  The point is so many people underestimate the importance of GOOD PHOTOS for homes on the real estate  market.

The thing is, I never hear that photos aren’t important from the people who matter most…buyers.

More and more people are beginning their home search on line.  I have heard the number tossed about that 90% of the buyer begin their search online now.  Now that number may seem high, but I know the answer is A LOT of people do.  My mother who has never stepped close to a computer for fear that it would bite her, actually requested a laptop 2 years ago for her birthday so she could search for a condo online.  Folks, if my mother is searching online, then 90% may be just about right.

So why are photos so important?  Isn’t it more important for the house to look good?

While the house does need to look good in person, it HAS to look good in photos.  WHY, you ask?  Right now in Frederick County there are 984 properties listed.  In Washington County there are 728.  Because there are so many homes on the market in Frederick and Washington counties,  a buyer may cross your home off the “go-see” list if the photos are unappealing.  That’s just the way it is in this market.  I know when I was searching for my future home online, I eliminated homes based on things I saw in the photos–did the master bedrooms windows look into the neighbor’s windows?  Did the rooms seem dark?  Did they appear small or oddly shaped?  When there are so many homes to choose from it is really easy to find something to be picky about.  Yes, these same deterrents are true once a buyer is physically in your house, but that unsightly view into your neighbor’s windows may be bearable when you combine it with the fantastic view from the family room and the gorgeous wood-burning  stone fireplace.  You don’t want your photos to be a reason for someone to not see your house.

Now this paragraph is time to brag about me  You knew it could be coming, but just stick with me.  For years I have worked on developing the art of real estate photography.  I KNOW pictures matter to buyers.  I don’t rush in, take 5 photos, then declare my job done.  I take the time to walk you through areas that need to be improved before I show up to take photos.  I may ask you to put things away, pre-pack, declutter, clean, and yes- sometimes redecorate or restage a bit.  If you let me, I will be right there with you dragging your furniture across the floor if I think it will make a difference in the way your home appears to buyers in photos and in person.  Then, while I’m actually taking photos if something catches my eye, or plays in the camera in a funny, that item is removed for the pictures-but I’ll put it back!

The reasoning it simple. Would you rather the buyers know you are Ravens fans, or notice your beautiful South Mountain view?

Your home does not have to look like a fancy decorator magazine, but the photos do need to have a fair representation of room size, and show the special features of your home, without distractions that could easily be eliminated.   I’ll admit, sometimes being the photographer is easy.  Sometimes its a little harder.  In the end its worth the extra effort because photos DO matter that much.

So, is your home ready for its close-up?  To find out, give me a call at 240.233.8818 or email me.