Weekly SOLD stats- week ending 08/25/2012

Here’s your weekly update for the week of Aug 19-Aug 25 for Frederick and Washington Counties.

  • 77 properties closed – 53 in Frederick County and 24 in Washington County
  •  The average sales price was $271,08
  • 62 of the 77 were traditional sales,  11 were short sales, and 4 were foreclosures
  • Average days on market was 90

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 08/18/2012

Here’s your weekly update for the week of Aug 12-Aug 18 for Frederick and Washington Counties.

  • 86 properties closed – 59 in Frederick County and 27 in Washington County
  •  The average sales price was $273,373
  • 72 of the 86 were traditional sales,  7 were short sales, and 7 were foreclosures
  • Average days on market was 71

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.

Disclosures, disclaimers, and representation OH MY!

Here is a crazy question for you. Would you represent yourself in court? I know that some of you have heard this line of thinking from a real estate agent and to prove me wrong you say, “Well, yes in some cases I would.”

How about if you were being sued for….

$200,000?

$400,000??

$750,000???

Not so sure now?

In Frederick and Washington Counties Maryland real estate transactions the stakes are that high. It’s not equivalent to a speeding ticket or an unpaid $300 loan from an acquaintance. It is a transaction that deals with a lot of money, and many legal matters.

I know people buy and sell real estate everyday without representation, sometimes people just get lucky. But would you consider it lucky if you sold your home and a buyer later came back and sued you because they found out that you didn’t have a disclosure that was required by Maryland and they are saying you were untruthful with them?

Would it be lucky if you bought a house with no agent involved and you didn’t get a home inspection and after you moved in you found out the plumbing was bad, the central air wasn’t working, and the stove didn’t work?   Hmm….

A Maryland real estate agent’s job is to protect your best interests. Realtors represent their clients and make sure the legalities of the transaction have been fulfilled. Those packets of forms you buy from your local office supply store may not have all the required Maryland paperwork..lead paint disclosures, property condition disclaimer or disclosure,  on-site sewage disposal system addendum, the list could go on and on.

Do you owe more than what your home is worth and will have to seek a short sale from the bank?   Do you know how to contact your bank and know what information you will need to send them?  Do you have time to email or fax them short sale paperwork which can sometimes contain 80 pages or more of financial information?

So how confident are you that you can go it alone?….

Weekly SOLD stats- week ending 08/11/2012

Here’s your weekly update for the week of Aug 5-Aug 11 for Frederick and Washington Counties.

  • 50 properties closed – 39 in Frederick County and 11 in Washington County
  •  The average sales price was $252,789
  • 32 of the 50 were traditional sales,  15 were short sales, and 3 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.

I want to upgrade my Maryland kitchen!

So you’ve decided that staring at that ugly, chipped, burned, stained countertop has pushed you to the breaking point and you have to do something about it!  One of the common upgrades for many homeowners is upgraded countertops.  There are so many options, and the choices can get confusing at times.  The most commonly talked about option is granite, which seems to be the preference of most buyers.  But they aren’t the ones paying for it. With the cost of granite, some homeowners are looking for cheaper alternatives.  Here are a few options to keep in mind:

  • Laminate—It’s not the same laminate anymore.  Today’s laminate countertops offer a look that fools many when seeing it for the first time.  With looks of granite or solid surface countertops, Laminate counters are being revamped.  With advances in technology the quality has also improved.  Today’s laminate can be three times the wear-resistance of the traditional version.  They are also nonporous – which means there’s no need for sealing and re-sealing like you have to do with granite.
  • Engineered Stone (Silestone, Cambria and Zodiaq) — These are stone products that are generally made of 90 percent quartz, bound together by resins. It’s non-porous, heat resistant and most manufacturers like Silestone, Cambria and Zodiaq offer it with a 10-year warranty. They have the look and feel of granite, but are generally less maintenance.
  • Corian  – With well over 100 colors, Corian has a lot to offer.  It can be cut, routed, drilled, sculpted, bent, or worked like a fine wood.  Nonporous, easy to clean, and certified kosher. With proper cleaning, it also resists the growth of mold, mildew and bacteria. Corian is also heat and scratch resistant.  But as I know from experience, if a knife falls blade first into Corian, the Corian is not match unfortunately.  The good news is it can be patched!
  • Concrete – No not sidewalks.  Companies have taken concrete to a whole new level.  Concrete counters are actually handcrafted, highly engineered slabs. They can be stained and a sealer can be added to add shine.  They are extremely durable, scratch and heat resistant. You can incorporate decorative edges and additives to add sparkle, seashells, and even real leaves to truly customize your look. Concrete is also eco-friendly which appeals to eco-savvy buyers these days.  But watch out for that falling glass because it will shatter into a million pieces when hitting the concrete counter.
  • Stainless Steel – For a professional, contemporary and industrial design, stainless steel can be a perfect fit. Its antimicrobial, seamless, heat and stain resistant and easy to clean, which is why it is used in professional kitchens.  These days you can even opt to have it texturized to help hide any future scratches or dents.
  • Tile – For a less expensive but dramatic change, tile can be a great choice. Ceramic, marble, granite, there are many choices out there in tile for countertops.  You can choose the material that best suits your needs.  With a wide variety of colors and patterns, tile creates endless possibilities.  With ceramic, as with concrete watch out for glass shards if you drop something.

 Now what if you are planning on putting your home on the market?   You want to approach a revamp not from what you like necessarily, but what would have the broadest appeal to buyers.  While you may love seafoam green counters, buyers…ummm, not so much.  And keep in mind upgrades may not actually translate into more money, more money, more money, you may not recoup the money you spend via a higher sales prices.  Some upgrades may pay off, some may fall flat.  But a nice, new sleek kitchen counter may mean that your home gets an offer quicker than one that is deemed to be “not as nice.”

If part of your kitchen re-do includes new appliances PAY ATTENTION TO COLOR.  If you are getting a new fridge but keeping the, don’t go out and buy a white fridge if your other appliances are black.  I don’t care how good the sale is, and I do love sales!  Buyers care about matching appliances.   If you are buying all new ones, as much as it pains me to say this, consider stainless steel.  Yes, they cost a little bit more, show fingerprints galore, and cook, cool, and clean the same as black or white (or green) appliances, but buyers like them more. Believe me nothing is more frustrating than hearing buyers say they have to replace brand new appliances if they buy the house so they can have stainless steel.  It happens people!

So do you need a little help in deciding if and how you should upgrade your home to appeal buyers?  I’m here to help!

 

Weekly SOLD stats- week ending 08/04/2012

Here’s your weekly update for the week of July 29-Aug 4 for Frederick and Washington Counties.

  • 112 properties closed – 75 in Frederick County and 37 in Washington County
  •  The average sales price was $257,449
  • 89 of the 112 were traditional sales,  15 were short sales, and 7 were foreclosures
  • Average days on market was 69

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 July 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

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

I keep an eye on what is going on with Frederick County short sales and foreclosures, so I can see how they are possibly having an effect on the prices of regular sales.  Luckily, both Frederick County and Washington County have a relatively low number of foreclosures.   The lowered interest rates and more affordable prices are enticing some buyers out, and fewer foreclosures are driving more of them to traditional sales. 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.

There is still a nice price gap between regular sales and bank mediated sales.  We have a swing of almost $80,000 between the two.