Ellicott City Realtor Catonsville Realtor

I thought I'd share with you a somewhat different take on getting what you want in the upcoming year.  Towards the end of every year, I sit down and write a story about the things I would like to have happen in the new year.  To me, this sets my unconscious mind in motion toward being, having and doing the things that bring me joy.

I write the story in the past tense, as though it has already happened.  I seal the story in an envelope, and then open it on the first day of the following year, to see what came true for me.

Examples of things that I might write about are that I made a certain amount of money, created value for people, started a new foundation, found a new church, went on a certain trip or vacation.

This method of setting a goal or expectation has no measurement, and no pressure.  I put it out there, seal it up, and see what happens.

What things would you write in your letter?

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Howard County Real Estate Market Update, November 2009

Carroll County Real Estate Market Update, November 2009

During the holidays, everyone seems to reflect on they are grateful for.  This year in particular, many are grateful just to have a roof over their heads, myself included.

It's easy to get away from the true meaning of what we do as Realtors.  And in my opinion, what we do is help somebody create a life.  Other than family, friends, occupation, and education, a big part of what's important to people is their home.

In the midst of a transaction, I often lose track of this.  A couple that I recently helped comes to mind, Mr. and Mrs. C.  Within the past two years, both Mr. and Mrs. C., who are in their late 70's, had fought cancer.  This year, Mr. C.'s cancer came back.  All Mrs. C. wanted was to be able to move to be nearer to her kids and her grandkids.  All Mr. C. wanted was for his wife of 62 years to be settled in their new condo before he passed away.  Selling their old condo quickly was important to both of them.

My big concern was that in our area we are flooded with senior condos, and at the time there were more than 100 competing properties.  The location of the condo that they were selling wasn't ideal.  We priced the condo well and with a stroke of luck, the condo was sold and settled in two months.

After Mr. and Mrs. C. moved into their new condo, I took them a gift of appreciation.  It was so nice to see them both together, so happy.  Mr. C. told me what a great job I had done, and that he'd refer anyone to me.

Mr. C. passed away just a few months later.  I know in the end he was at peace in their final home together.  I feel honored to have been a part of that.

Here's to a happy, healthy, peaceful holiday.

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I sat down with first time buyers last night.  After I scheduled the appointment, when I thought about it, I

I realized that I hadn't met with first time buyers in a long time.  I do a lot of listings and move-up buyers, so my clients in general have been through the process and understand how it all goes.

As I planned my presentation, I started to remember what it was like to know nothing about Real Estate or Real Estate transactions, and what that felt like.  I was reminded of when I bought my first house, without representation, without a Realtor.  I didn't have the benefit of the help and guidance of an experienced professional.  I made it through, but I thought I was getting a really great deal.  It turns out that it was just ok.

You may have heard that in the entire body of knowledge, there are things you realize you know, and there are things you realize you don't know, but there's a huge amount of information that you don't realize that you don't know.  This is especially true for Real Estate.

First time buyers will admit that there's a lot that they don't know.  And there's a wealth of information available on the internet for them to educate themselves.  For example, last night, as I was explaining the basics of financing, my Buyers wanted to know what points were (and no, this isn't just a loan officer's job to explain).  This was something for which they could have easily just looked up the definition.  I'm glad they didn't, though.

It's up to us as Realtors to explain the things that Buyer's don't realize that they don't know.  So I did explain to my Buyers what points were, but more importantly, I explained to my Buyers how they might use this information to their benefit in the negotiating process.  I could tell by the expression on their face that having the information and being able to use it to their benefit would make all the difference in their confidence in my ability to guide them through the transaction.

Have you ever had a situation where you came up short of reaching your goal because of something you didn't realize you didn't know?

 

Top Seller Tuesdays - Spend a Little, Get a Lot! A series of weekly tips for preparing your Maryland Home for sale that are simple, quick and designed to bring you top value.

• Create an information booklet containing property tax statements; records of maintenance, service work, warranty work and improvements made to the house; utility bills; and warranties for the roof, pool, spa, electrical systems and major appliances.

If you'd like more information about preparing your home for sale, feel free to contact me.

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Baltimore County Real Estate Market Update, November 2009

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Currently, I am working with several Investors that are looking for a property to rehab and rent, or to rehab and sell.  Of course, they're looking for a good deal - not a steal, but something with a good return.

When people hear the term "REO" - what does this mean to most Purchasers?

            -"Could be a good deal."

            -"The bank's just going to let it go."

            -and other thoughts along this line

However, my experience has been that REO's in our market are selling not in 30 days, or 60 days, or 6 months.....but A week.

Are banks purposely undervaluing? Maybe.  Why would they do this?  A lower list price and the term REO attracts Buyers' attention, and thereby multiple offers.

In my opinion, that seems to be what's happening in our area right now.  There are 2 properties here locally that were REO that my Investors put offers on, and both sold within a week.

In speaking with the Agents, both properties had multiple offers, and the offers were extremely good.  To read between the lines, the bank got over list price.

If the Buyers were Investors, then they must be banking on the market coming back, and coming back strong.  If the Buyers are Homeowners, I can somewhat understand.  However, in doing market studies on these two properties, both homes needed extensive repairs.  Most Homeowners are not interested or have the wherewithal to do this kind of work.

Investors beware - in our market, competition is still fierce.

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Maryland Real Estate Market Activity, November 30, 2009, New Listings, Pending Sales, Days on Market