The Agent Told Me That No One Had Been in The House in Awhile I viewed a house with my client.  Lots of work had been done and the house "showed" very well. However, the house did not "smell" very well. Much of the smell could probably be attributed to new carpet and freshly painted walls. The lower level had an additional smell of mildew. Most likely these smells would substantially have been abated had the windows been opened more often, if the air conditioning had been allowed to run, and if a dehumidifier had been used in the basement, however, this was not the case. My client and I were left to guess as the whether our suspicions were correct, in which case there would not have been a major problem, or as to whether there was a more severe problem with water in the basement and who... 08/27/2011

Do You Tell The Seller When Their House Is Worth More Than They Think It Is? It may be a rare occurrence when the seller thinks that their house is worth less than what the market is showing. When agents prepare for listing appointments they research lots of data and information and develop detailed comparative market analyses and, usually, they find that the seller already has a price in mind, which is higher than all of their data would suggest. But on that rare occassion, when the number that the seller has in mind is actually less than all of this research shows, should the agent let them know? We have heard about agents who "buy" listings by trying to indicate that the home is worth more than what other ethical agents indicate through their honest comparative market analyses. Alter... 08/16/2011

You Have No Control Of Your Home's Value People sweat and they fret and their blood pressure goes up and down as the stock market wildly swings up and down and down even further.  Even though they are invested in the stock market, they feel that there is very little that they as an individual can do to impact it. Alternatively, when it comes to ones home, these same people feel that they have the power to positively impact its value. They will price it based on what it was worth five years ago. They will price it based upon how much they need to pay their debts. They will price it as if it is the best home on the market. They will price it in comparison to another house which is not at all like theirs. They will price it high with the idea that buyers will always offer less. They will p... 08/14/2011

Importance Of Original List Price The percentage of an actual sales price compared to the original list price, or the price at which one lists their home for sale when they first put it on the market is inversely correlated to the days on market. The Metropolitan Regional Information System (MRIS), which includes the markets of Washington DC, Baltimore, Maryland, and their surrounding areas has tracked several metrics, including original list price versus actual sales price and days on market. The data over the last year, August 2010 through July 2011, shows a strong inverse relationship for these variables. The closer that the sales price is to the original list price the shorter the number of days on market is for that property. It seems to make sense, but the data shows that midway i... 08/13/2011

Is Renting A Good Investment?   Has Your Rent Gone Up In Value? We invest our money in various things.  Some more popular investments are stocks and bonds.  In the recent economy, many people have been suggesting gold as a very good investment. To us folks in the real estate business, we are very familiar with real estate as an investment. Real Estate Investments There are some who invest in real estate in a somewhat removed fashion similar to investing in stocks.  That would be through a Real Estate Investment Trust. Others invest more directly, whereby they like to manage rental properties.  They look for positive cash flow and long term appreciation. There are some who look for faster turnarounds who look for fixer upper properties.  This requires a few extra skills related to buildi... 08/01/2011

Well as most people on the East Cost know, it is scortching HOT out there. I know some of the folks from the Southwest are calling us wimps because this is their spring weather, but for most of us, and I was born in a town where 80 degrees is as cold as it gets. This heat is too much. But to answer my question, if you have  buyers who want to go out and look at houses, those are A buyer in my book, those buyers are ready to write an offer, those buyers are serious they are not playing games, they are not trying to entertain themselves looking at the way other people live. Please take good care of those buyers, bring water with you, stay hydrated and remember those buyers don't want to be out there in the heat looking at houses any more than you do, but they need to buy soon and they are... 07/22/2011

Are You Getting a Good Deal? A few years ago the real estate market was in very good condition.  Prices were rising at extraordinary rates.  Interest rates were low, so these properties were still affordable even at higher prices.  Lots of people were selling and lots of people were buying.  Many people were skeptical about this boom in prices, referring to it as a bubble and asking when it would burst.  Indeed, it did burst.  Prices began to come down. While prices were coming down, many people were reluctant to believe that values were coming down as well.  What used to be an appreciating product in most markets was now a depreciating product in most markets.  Real estate was losing value almost at the rate that an automobile would lose value. The slow acknowledgment of this changed m... 07/22/2011

This is a great incentive from Fannie Mae, if you sell one of the HomePath approved homes, and you buyer might qualify to purchase the home with a Homepath and up to 3.5% closing cost help, and even renovation financing. And $1,200 bonus to buyer's agent     HomePath® Buyer Incentive: June 14 – October 31 Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011. A $1,200 selling agent bonus is also available to selling agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions. Terms and Conditions: Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer. Initial offer must be submitted on or after June 14, 2011 and close by... 07/19/2011

I Am Insulted By Your Offer Buyers see a house that they like and they wish to make an offer to purchase it.  However, the offer that they wish to make is far below that of what the seller is asking for the house. Most people do not want to make an offer that will insult the other side for fear that it will stop, or at least hinder, negotiations before they even get started.  At the same time, most people do not want to go into a transaction with an unfair price. Typically, it is the buyer who is expressing these concerns about their potential offer, but there is a question as to whether or not they should be the one showing such concern. If the house is reasonably priced in the first place and the buyer still wishes to make a low offer, then they should not be worried about insulting a... 07/15/2011

I Am Not Going To Offer Full Price This is a popular statement and negotiating strategy for many real estate buyers. Questions arise as to what is the rationale for this thinking and as to whether or not it is valid. Generally, two answers are given as to the rationale. One, the sellers always list high knowing that the buyers are going to make a low offer.   Two, the buyers want to get a good deal so they make a lower offer than the listed price. It makes sense that sellers would want to get as much as possible for their home, even more than it is worth.  This would seem to give them an incentive to price the house above its market value. However, statistics will show that an overpriced home will sit on the market for a longer number of days and if not adjusted in price quickly will ev... 07/14/2011

Have Property Values Returned To Normal? Up to about the year 2000, the value of homes tended to equal that of inflation when it was measured over a long period of time. There were peaks and valleys along the way, but generally the long term average was relatively predictable. After the year 2000, values started to appreciate at unusually high rates, like 20 percent per year. However, true to the law of averages, the resultant drop in value was just as severe. There was a question as to how high values would go and now there is the alternative question of how low values will go. Can this low point be predicted based upon historical appreciation rates or should current factors be considered? Current factors such as a slowly growing economy, unemployment numbers which are almost stagnant ... 07/10/2011

The Irony of Mortgage Interest Rates Over the last year, and even still today, mortgage interest rates have been at historically low rates.  One large lender has indicated that their rates are in the low 4 percent range. However, in spite of these incredibly low rates, the boost to the real estate market, which one would expect, has hardly occurred. The irony is related to the reason for the low rates.  When the economy is not performing as well as investors would like, then, instead of investing in the economy directly through stocks, they change to what is considered a lower risk investment, which is bonds. The bond market supports the mortgages, hence leading to the lower rates for mortgage interest rates. However, since this occurs at a time when the economy is not performing well, ... 07/05/2011

Many Were Upside Down on Their Mortgage Ten Years Ago We have frequently been hearing reports about the numerous people who owe more on their houses than their houses are worth. The implication is that the market will see still more distressed sales such as foreclosures and short sales. Further the implication is that these distressed sales will drive the value of real estate down to a bottom which it has supposedly not yet reached. Of course, it is an implication that this will happen and not a fact, however, the more that something is spoken the more likely it is that it will actually happen since this constant message tends to influence the actions of people. But is this constant reporting of the continuing decline of real estate simply a convenient news story for the always cry wolf... 06/13/2011

I Still Want To See The Outside Almost everyone has a camera, even if only on their cell phone, especially real estate agents. Of course, this is important, because nobody would dream of listing a house without lots of pictures. The Multiple Listing Systems are programmed to allow for easy uploading of many photos for a listing.  In fact, the MLS is generous enough such that on some listings, it is difficult to use the full allowance of photos. This is great for Sellers who can now show off all aspects of their property.  Now they can boast in picture style, that drop dead gorgeous kitchen, their fully finished lower level, including the theater room, the beautiful new deck which overlooks a pleasantly landscaped yard, and so on. The search for buyers is much easier as they can do so mu... 05/16/2011

DO YOU OWE TOO MUCH ON YOUR NOTTINGHAM, MARYLAND HOME BUT HAVE TO SELL IT?   HAVE YOU EVER HEARD OF SELLING YOUR NOTTINGHAM, MARYLAND HOME THROUGH A SHORT SALE?   Mike Klijanowicz is an experienced Short Sale Real Estate agent servicing your local Nottingham, Maryland community area.  Mike Klijanowicz is an expert real estate short sale specialist agent who has the right network of contacts and systems in place to get your short sale real estate transaction on your Nottingham, Maryland home closed quickly!  If you are in a situation where you are contemplating selling your Nottingham, Maryland home going through a short sale or know anyone else who is in that same  situation, Mike Klijanowicz wants you to know that he is here as a FREE resource for you and all of your referrals!  Simply... 05/14/2011

Available Financing Shown below are two financing options available from a lender in the Greater Baltimore region. Conforming Fixed Rate 97% Conventional Program highlights are as follows:  Owner-occupied primary residence only.  Minimum 720 FICO score          3% down payment must come from the borrower's own funds.  1 unit single family residences (attached and detached) and PUDs (attached and detached).  Purchase and Rate/Term Transactions  Maximum DTI 41%.                        No Upfront MIP / Ann ual MIP rate of 0.88%!   FHA Fixed Rate 96.5% Program highlights are as follows:  Owner-occupied primary residence only.  Minimum 640 FICO score  3.5% down payment may be from borrower's own funds, bona fide gift, or settlement assistance program  1 unit single family residenc... 05/13/2011

Move Closer to Work The price of gas has gone to the $4.00 mark give or take depending upon your area and any given station. Even with predictions that the price of gas will decrease by about $0.50 over the next month, the price will still be very high, such that it is making it hard to spend money on other things, many of which are necessities. However, this negative news about the economy has a positive side.  Investors are putting much of their money into the bond market, which is helping to keep mortgage interest rates low. Additionally the number of foreclosures and short sales on the market is still heavily influencing real estate values to keep them depressed. With these low interest rates and these low property values, this is an ideal time to purchase a home closer to work. Als... 05/10/2011

My House Is Not Ready To Sell Means I Am Embarrassed You want to sell your house and find something for your changing needs and desires, but you think that your house is not ready to put on the market.  In other words, you are too embarrassed to let people see how you have been living. You are embarrassed that over the last 10 years you have not: trimmed and pruned the bushes and trees on your lot or edged along the fence or along the sidewalks; maintained the fence in your yard which is rotting and starting to fall over; reattached the drain spouts which have detached at the midway point or cleaned the gutters to allow for a free flow of rain water from your roof; caulked around the windows and doorways or even around the flashing at the chimney, which is now leaving a water stain on t... 05/05/2011

Unemployment Falls as Business Confidence Increases With an improving economy, many employers are starting to hire. Per statistics from the Labor Department from late April 2011, the unemployment rate fell in 34 of the nation's states.  Washington DC and 9 states showed no change. The unemployment rate, nationally, fell in March to a two-year low of 8.8 percent, and private employers added more than 200,000 jobs for the second consecutive month.  That is the largest two month hiring total in four years. The biggest declines were in the states of New Mexico, Florida, Oklahoma, Indiana, Missouri, and Ohio. Texas alone added 37,200 jobs followed by substantial job gains in Missouri and Florida. The unemployment rate in Nevada, which has the highest rate, dropped by 4 basis points. North Da... 05/01/2011

No Wonder They Sign Up For More Than One Tour Of Duty One out of five veterans (20.9 percent), under the age of 25, of the wars in Iraq and Afghanistan, was unemployed in 2010. This is a difficult age for non-veterans, also, to find a job.  Their unemployment rate for the same period was 17.3 percent. The State of Maryland has created a job web site designed to match the military qualifications with the skills needed in non-military positions. On average, each one of the veterans' military occupational codes can be matched to seven federal occupations, and 80 percent of federal occupations can be matched to at least one military occupational code, according to state officials. Maryland Workforce Exchange "With the positions coming to our state through the Base Realignment and Closure pr... 04/29/2011