Ramblings of a Baltimore area Realtor

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 21, 2009

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sun, 22 Nov 2009 22:51:36 -0600

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 21, 2009

The Anne Arundel County real estate market is still seeing a welcome increase in sales and settlements over the past weeks, the sales are edging higher. Interest rates are still low. The home sales still aren't as swift as we would like to see, however, they are remaining fairly stable. The number of new listings has declined steadily over the past few weeks and we are seeing a slight increase in the number of homes going under contract and settling. Home prices are also remaining fairly stable as we move into the Thanksgiving Season. Now that fall is here to stay we'll see another spurt in activity before the winter hibernation. I'm surprised I'm not seeing more new home buyers making the decision to buy with so many great deals available. Now with the economic stimulus changes (up to $8000 in tax credits) and low interest rates it will be interesting to see how this all changes. Overall, there has never been a better time to buy, than right now but buyers need to hurry because the tax credit times are coming to an end soon.

These figures are taken directly from our MRIS system and are believed to be accurate.

Glen Burnie, MD

New Listings 20 (decrease 6 from last week)

Under Contract 8 (decrease of 4 from last week)

Settled Sales 7 (decrease of 8 from last week)

Anne Arundel County

New Listings 122 (decrease 30 from last week)

Under Contract 77 (decrease 28 over last week)

Settled Sales 85 (decrease of 11 over last week)

Glen Burnie offers many affordable housing opportunities for those relocating to Ft. Meade and Annapolis. Glen Burnie is located north on 97 from rt 50 or north on Rt. 2 from Annapolis Naval Academy and east along 32 and north on 97 from Ft. Meade. It is a relatively easy commute from either base and only a couple short miles from the Curtis Bay Coast Guard Station too, as well as being commutable to DC whether you ride the MARC from Odenton or drive.

If you are thinking of buying or selling a home give me a call today and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. You can save thousands by listing your home with Advance Realty Anne Arundel Inc.. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building a lone is worth the plunge into todays market.

In keeping with saluting our heroes, during 2009 Advance Realty Anne Arundel Inc is waving administrative fees active duty military, retired military and the families of fallen military, as well as policemen, firemen and emt's. If you enter into a contract by the New Year's eve Advance Realty Anne Arundel Inc. will waive the admin fee at settlement. This is a $350 savings. If you are thinking about buying or selling a home give Advance Realty Anne Arundel a call and receive full service real estate assistance from an experienced agent. Our office is open 7 days a week and we can be reached at 410-761-1550.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 15, 2009

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sun, 22 Nov 2009 22:08:05 -0600

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 15, 2009

These figures are taken directly from our MRIS system and are believed to be accurate.

Glen Burnie, MD

New Listings 26 (increase 3 from last week)

Under Contract 12 (no change from last week)

Settled Sales 15 (increase of 8 from last week)

Anne Arundel County

New Listings 152 (increase 1 from last week)

Under Contract 105 (increase 2 over last week)

Settled Sales 96 (increase of 41 over last week)

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 7, 2009

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sun, 22 Nov 2009 21:57:13 -0600

Glen Burnie, Anne Arundel County, Maryland - Market Update for the Week Ending November 7, 2009

These figures are taken directly from our MRIS system and are believed to be accurate.

Glen Burnie, MD

New Listings 23 (increase 8 from last week)

Under Contract 12 (decrease of 3 from last week)

Settled Sales 7 (decrease of 8 from last week)

Anne Arundel County

New Listings 152 (increase 22 from last week)

Under Contract 103 (decrease 10 over last week)

Settled Sales 55 (decrease of 79 over last week)

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Anne Arundel County Rehabilitation Programs

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sun, 22 Nov 2009 21:27:06 -0600

Some Brooklyn Park residents looking to rehab their homes could receive financial help from a county public agency.

Chauncey Hall, the program director for Arundel Community Development Services Inc., will explain the Property Rehabilitation Program and the Brooklyn Park Property Rehabilitation Program at the Arundel Neighborhoods Association meeting at 7 pm, November 24 in the Brooklyn Park Library located at 1 E. 11th Ave in Brooklyn Park.

The Brooklyn Park program focuses on the following streets: Ballman Court, Brookwood, Southerly, Patrick Henry, Wasena, E. 11th, Victory, 4th Street, Wood, Cross, Dell and 1st Street. Other streets can participate in the Property Rehabilitation Program but the funding comes from a different pot of money.

Both programs help eligible homeowners repair their homes. Repairs could include new roofs, installing or replacing heating and ventilation systems, and correcting health, safety and other code violations.

The programs provide loans to eligible borrowers at a 0% interest rate with payments deferred for 30 years. Many borrowers will make no payments on the loan for 30 years, unless they sell the home or transfer title.

A construction specialist will work with property borrowers to prepare a construction work write-up and select a qualified, licensed contractor. After that, the construction specialist will work with both to ensure the work is being completed timely and satisfactorily.

There are income requirements and owining and living in a home in the county. Besides owning and living in a townhome on the streets indicated in Brooklyn Park for the Brooklyn Park program, participants must agree to do exterior improvements to their home in accordance with the program's standards and meet the income requirements.

Brooklyn Park is one of three areas - the others are Glen Burnie and the Spring Meadows and Stillmeadows areas - to have similar programs.

For details about the meeting, call President Gary O'Neil at 410-789-4480.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

35 Places to List your Real Estate Business Online for Local Search

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Fri, 20 Nov 2009 19:45:20 -0600

With over 80% of new home buyers starting their search on the internet, there's even more sites where your business has to be listed to keep up.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Via Rebecca Levinson, Real Estate Marketing Consultant (Real Skillz-Clear Marketing for Your Real Estate Vision):

35 Places to List your Real Estate Business Online for Local Search

BestofCitySearch- Nominate and vote for local businesses. Free

BestoftheWeb Local- Business Listing allows contact information, hours of operation, consumer reviews, about us. Free

CitySearch- Directory of local services. Can create ads and set a budget. Citysearch has a Mobile App for IPhone, a mobile app forBlackberry, and Palm Pre.- PAID Set a Budget.

CitySquares.com- List your Business profile. Free

Dex Knows- Local Search Listing- Paid

DiscoverourTown- Lists local businesses and city facts. Free

elocallisting-Optimized local business search marketing campaigns- Paid subscription fees. Need to register for information.

GenieKnows- Business Directory. Free

Geofollow-Location based twitter directory. Free

GetFave.com- Register your business listing, add maps, video, content. Free

Google Local Business Center- List your business on Google maps and add photos and video- Free

Hotfrog- U.S. Online Business Directory. Free

iBegin.com- Business listings for Canada and the U.S.; Geocoding.- Free

Insider Pages- Register your business listing. Free

Kudzu- Basic profile listing is free includes all contact information, link to website, hours of operation, and can respond to reviews.

Judy's Book- Contact to be part of Beta Group under Partners.

JustRealEstate.org- Contact for a business lising. Paid

Local.com- Local Directory of Businesses.-Free

Local Tweeps- Zipcode Level Twitter Directory. Free

Matchpoint.com- Submit your business listing and respond to RFP's. Receive Leads with Call Tracking and Management.-Free

Merchant Circle- List your business, add a blog, description, create coupons, network with local businesses, answer questions from consumers. Free

Metrobot- Submit a business listing. Free

Mojopages- Business listings for free with notification of user reviews and can also invite customers to review. Free

SeekOn- Submit site for a business listing. Free

Switchboard.com- Powered by Superpages.com. Business listings. Free

Topix- Single city business listings are free. Free

Trulia- Real Estate Listing Directory- List your real estate business, services, listings, local profile. Trulia pro accounts $19-$79/month

Twellowhood- Local Twitter Directory. Free

Tyloon- Business Listings for Free. Free

YellowBot- Local Search Site with user reviews. Free

Weblocal.ca- Canadian local search site with user reviews and video upload. $199 signup fee and $89monthly fee

Yelp- Reputation Management by user reviews. List your business. Recommend other local businesses. Free

Zillow- Register your local business. Free

ZoomInfo- Create your business profile and have people find you for new business opportunities. You can also register here to be notified when you can list your company...an upcoming ZoomInfo feature. Free

If you enjoyed this post then check out,

An Offering for Your Real Estate Marketing Toolkit: 45 Blog Directories

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****************************************************

Rebecca D. Levinson is a real estate marketing consultant with 17 years of experience serving real estate industry professionals.

If you need assistance with online marketing, offline marketing, social networking, or blogging contact Rebecca D. Levinson at #262-203-5231 or email rebecca@bloggingintherain.com.

Open House - November 21, 2009 1pm-4pm - 447 Orchard Street, Baltimore, MD 21201

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Fri, 20 Nov 2009 18:12:48 -0600

June Piper-Brandon | Advance Realty | junepiperbrandon@gmail.com | Primary: (410) 761-1550
Cell: (410) 292-0100
Fax: (410) 761-1404

447 ORCHARD ST

$169,000

Click here to view the full details of this property.

Year Built:	1915
County:	Baltimore City
Bedrooms:	2
Baths:	1 full, 0 partial
Sqr Footage:	0
Garage Spots:	0.0
Garage Desc:	N/A
Subdivision:	SETON HILL
MLS Number:	BA7172128

COMMENTS

Seton Hill is Baltimore's oldest neighborhood. Located to the east of Martin Luther King Blvd this neighborhood is known as the French Quarter of Baltimore. This lovely home is nearly complete. This home is comprised of 4 levels with a finished basement, kitchen dining on the main floor, living room on the second floor and master on the top. The kitchen will have lovely wood cabinets, granite counters and stainless appliances. Master bedroom has lovely high vaulted ceilings. Bathroom has ceramic tile floors and hardwood floors throughout the house. Home has all new windows, high efficiency heat and a/c and many green features. Check it out now and envision the dream and live in this great historic neighborhood.

ADDITIONAL FEATURES

Additional Rooms: Living Room, Dining Room, Bedroom-Master, Bedroom-Second, Kitchen
Amenities: Granite Counters, Wood Floors
Appliances: Disposal, Dryer, Microwave, Refrigerator, Stove, Washer
Basement: Improved
Kitchen Features: Kit-Dining Combo
Exterior Features: Fenced-Rear, Patio, Street Lights
Ownership Type: Fee Simple

June Piper-Brandon
e-PRO, CRIS, Broker
Advance Realty Anne Arundel
5 CRAIN HIGHWAY, N., SUITE 101
GLEN BURNIE, 21061
Email: junepiperbrandon@gmail.com

Primary: (410) 761-1550
Cell: (410) 292-0100
Fax: (410) 761-1404

Office: (410) 761-1550

View My Properties

2708 Lime Street, Temple Hills, MD 20748

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Wed, 18 Nov 2009 09:55:59 -0600

John Newcomb | Advance Realty | jnewcomb@advancerealtyusa.com | Primary: (410) 761-1550
Cell: (410) 570-5717
Fax: (410) 761-1404

2708 LIME ST

$199,900

Click here to view the full details of this property.

Year Built:	1951
County:	Prince Georges
Bedrooms:	3
Baths:	1 full, 0 partial
Sqr Footage:	0
Garage Spots:	0.0
Garage Desc:	N/A
Subdivision:	NORTH BARNABY
MLS Number:	PG6973670

COMMENTS

All brick rancher in est. neighborhood. This freshly painted home features 3BR, 1BA, w/part.finished basement, upgraded kitchen w/new floor, rep.windows & newly refinished h/w floors throughout, & a new dryer. A large fenced yard backs to woods w/ample off street parking to top it off. Great for pets. Very close to the Wash. Beltway. Seller concessions considered..

ADDITIONAL FEATURES

Additional Rooms: Living Room, Bedroom-Master, Bedroom-Second, Bedroom-Third, Kitchen, Family Rm, Attic-Unfinished, Storage Room, Workshop
Additional Structures: Shed
Amenities: Attic-Floored, Attic-Strs Pull Dwn, Drapery Rods, Entry Lvl BR, Shades/Blinds, Washer/Dryer Hookup, Wood Floors
Appliances: Dishwasher, Disposal, Dryer, Exhaust Fan, Extra Refrg/Frz, Refrigerator, Stove, Washer
Basement: Full, Outside Entrance, Partially Finished, Rear Entrance
Kitchen Features: Liv-Din Combo
Exterior Features: Fenced-Fully, Patio, Porch-enclosed, Porch-rear, Sidewalks
Lot Features: Backs to Trees, Landscaping
Topography: Level
Ownership Type: Fee Simple

John Newcomb

Advance Realty Anne Arundel
5 CRAIN HIGHWAY, N., SUITE 101
GLEN BURNIE, 21061
Email: jnewcomb@advancerealtyusa.com

Primary: (410) 761-1550
Cell: (410) 570-5717
Fax: (410) 761-1404

Office: (410) 761-1550

View My Properties

612 Cresswell Road, Brooklyn Park, MD 21225 - Just Reduced

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sat, 14 Nov 2009 20:40:50 -0600

June Piper-Brandon | Advance Realty | junepiperbrandon@gmail.com | Primary: (410) 761-1550
Cell: (410) 292-0100
Fax: (410) 761-1404

612 CRESSWELL RD

$159,999

Click here to view the full details of this property.

Year Built:	1953
County:	Anne Arundel
Bedrooms:	3
Baths:	1 full, 0 partial
Sqr Footage:	0
Garage Spots:	0.0
Garage Desc:	N/A
Subdivision:	ARUNDEL GARDENS
MLS Number:	AA7180177

COMMENTS

Just listed!! A Single family home for less than the price of a town home in Anne Arundel County. Home features a porch front and full fenced front and rear yard. The kitchen is well laid out with loads of cupboard and counter space. The laundry area is behind the kitchen right next to the master bedroom. The master bedroom addition features a wood burning fireplace and sitting room/den off to the side. The seller is in the process of getting the carpets cleaned and painting the walls. The roof is only 3 years old. You can move right in!! This is not a short sale, the seller is motivated and seller can settle quickly. Don't wait too long, this one will not last long!!

ADDITIONAL FEATURES

Additional Rooms: Living Room, Bedroom-Master, Sitting Room, Bedroom-Second, Bedroom-Third, Kitchen
Additional Structures: Shed
Amenities: Attic-Strs Pull Dwn, Home Warranty, W/W Carpeting, Washer/Dryer Hookup
Appliances: Dishwasher, Dryer, Icemaker, Refrigerator, Stove, Washer
Kitchen Features: Kit-Table Space
Exterior Features: Fenced-Fully, Fenced-Rear, Porch-front
Ownership Type: Fee Simple

June Piper-Brandon
e-PRO, CRIS, Broker
Advance Realty Anne Arundel
5 CRAIN HIGHWAY, N., SUITE 101
GLEN BURNIE, 21061
Email: junepiperbrandon@gmail.com

Primary: (410) 761-1550
Cell: (410) 292-0100
Fax: (410) 761-1404

Office: (410) 761-1550

View My Properties

Ridgely Middle School Craft Fair and Silent Auction and Bake Sale

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Thu, 12 Nov 2009 22:46:41 -0600

Ridgely Middle School Craft Fair and Silent Auction and Bake Sale

Please join us this Saturday for Ridgely Middle School's 28th Annual Craft Fair & Silent Auction and Bake Sale (I just finished 8 dozon chocolate chip cookies and 6 pumpkin loaves) on Saturday, November 14, 2009. We have Over 100 Local Artists & Crafters coming so you don't want to miss it.

Ridgely Middle School is located at 121 Ridgely Road, Lutherville, MD 21093. The doors open at 10:00 am and the sale runs until 3:00 pm.

Going to a formal event over the holidays? Come bid on a Tuxedo Rental from Tuxedo House. We've got great items; an autographed Joe Flacco Football, Ravens Tickets, Hotel Rooms for those out of town guests, Aquarium Tickets, Restaurant Gift Cards, everything to finish your holiday shopping early. Look for the Silent Auction in the Library this year.

But most of all please attend and bring your friends and neighbors! Come out and support this great event,

Refreshments, including Pit Beef will be offered.-Free Parking

General Admission $2.00 Students Free (8th grade and below)

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Advance Realty Anne Arundel Sponsors Toys for Tots - Make a Needy Kid Smile!!

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Thu, 12 Nov 2009 13:00:35 -0600

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Advance Realty Anne Arundel Sponsors Toys for Tots - Make a Needy Kid Smile!!

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Thu, 12 Nov 2009 12:59:54 -0600

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Home Buyer Seminar Coming Soon - Register Now Space is Limited

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Thu, 12 Nov 2009 09:08:18 -0600

Home Buyer Seminar Coming Soon - Register Now Space is Limited

Advance Realty Anne Arundel, Bank of America, Gateway Title Group & State Farm Insurance are BETTER TOGETHER. FREE Homebuyers Seminar 12/09/09 at Advance Realty Anne Arundel, located at 5 Crain Highway North in Glen Burnie at 7PM. Please RSVP by 12/5/09. Come hear about the NEW HOMEBUYER TAX CREDITS and NEW LAWS GOVERNING LENDERS & TITLE COMPANIES. There is limited room, so reserve early and be entered into a drawing for a gift card!! You have to be present to win!!

If you've never bought a house before, you need to hear what these great people have to say. And, even if you have bought a house before, but it's been a while, you need to know what is new in legislation so you proceed with success.

Anyone who attends this valuable seminar will receive a coupon waiving their administrative fee at settlement for using Advance Realty Anne Arundel for their purchase and/or sale of their home.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Pricing Historic Homes in Urban Neighborhoods, Step Four - Analyzing the SOLDs - Dealing with the Outliers

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Wed, 11 Nov 2009 22:11:38 -0600

Maryland, and Baltimore in particular has been voted the most visibly historic town in America. There are lots of historic neighborhoods, historic homes not just in Baltimore but across the state. Pricing homes that are visibly historic, on the National Register of Hisoric Places or within historic districs can be both a challenge and time consuming. The most important thing you can do to help your client is to preview other homes in your marketplace, so you know how the homes compare and therefore how the prices compare.

If you are in the market to purchase an historic home or are in the market to sell an historic home then you want to work with an agent that is familiar with historic properties, historic neighborhoods, the local enforcement requirements for maintaining and improving historic homes.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Via Jennifer Allan, Author of Sell with Soul (Sell with Soul):

Thanks to those who are sticking thru this series with me! While I think that the process of properly pricing homes is fascinating stuff, I know it's not nearly as sexy as other topics! (Although SELLING your properly priced listing is very sexy, indeed.)

In the previous installments...

Introduction
Step One - Before you price, prepare!
Step Two - Preview, preview, preview
Step Three - Play detective

...we talked about how to effectively preview the competition to figure out where your potential listing falls into the scheme of things. So, what about the SOLDs?

The problem with using SOLDs in your market analysis is, unless you've been a previewing mad(wo)man over the last eight months, you probably haven't seen the inside of the properties, and now it's too late. So you have to go off the MLS description - a very risky proposition!

But we'll do our best.

Print off all the SOLDs that seem to be comparable, even if they're much higher or lower than your assumption of the market value of "your" listing. Drive by all of them! Pay special attention to the outliers - the ones that seem to have sold way out of whack to the rest of the market, or whose Days on Market statistic is unusually low or high.

There's a good chance your drive-by will reveal the reason for the out-of-line price or DOM. Perhaps there's a commercial building next door, behind or across the street. Or, common in Denver, a corner lot that doesn't have a private back yard, or any back yard at all. Maybe it's a pop-top done wrong and doesn't fit in with the neighborhood. Busy street with a bus stop in the front yard?

Or conversely, you might see that it has a stellar location with an extra-large lot, a mountain view, or around the corner (at a suitable distance) from a popular coffee shop.

If the reason for the outlying price and/or DOM isn't obvious from your drive-by, go line-by line through the MLS listing. Is it missing a garage in a market that expects garages? No basement? One bathroom? Obviously, if the interior photos show that it needs work, that's relevant. Check the showing instructions to see if there are any obvious limitations on access.

If all else fails, and you really feel a particular house is a good comparable, call the listing agent. Hopefully they'll be helpful in helping you understand why the house sold at the price it did. Or, maybe not. But give it a try.

It really is the outliers that give you the most grief when looking at the SOLDs. There probably are some sold listings that fall right in line with what you're thinking the price of your listing ought to be, but the ones that don't give you fits. The more research you do on these outliers will not only make your CMA stronger, but will give you an air of confidence when going through your CMA with a seller.

Next Time - Putting it All Together

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Tips & Inspirations to Generate Business from the Very Important People Who Know You

Playing Detective... Pricing Historic Homes in Urban Neighborhoods - Step 3

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Sat, 07 Nov 2009 20:46:39 -0600

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.

Via Jennifer Allan, Author of Sell with Soul (Sell with Soul):

Here's the third, well, kinda the fourth (if you count the introductory teaser) installment in my series "Pricing Historic Homes in Urban Neighborhoods." You can read the rest of the series here:

Introduction
Step One - Before you price, prepare!
Step Two - Preview, preview, preview

I've had a few comments come in to the tune of "Wow - that's a lot of work - is it really necessary to spend so much time pricing a home?" Well, I say - YES! It is necessary! After all, our product is property, and our sellers pay us darn good money to know our product and move THEIR product off the shelf... so I believe with all my heart that we owe it to our future adoring fans to do our homework and make the most knowledgeable recommendations we're capable of.

Although... we'll never be perfect. Sigh.

Back to Pricing.

In the last installment, I talked about how important it is to preview preview preview. The more competing listings you preview, the better sense you'll have of where your listing falls into the mix.

Remember, the houses you're previewing are 1) the competition for your listing and 2) houses that haven't sold.

Why is it important to check out the active listings? Some agents don't preview because they don't think the active listings are relevant. "All that matters is SOLD." Eh, I disagree. First, what's SOLD is not competing with your upcoming listing, and when you're dealing with older homes, buyers don't always have a lot of options that meet their criteria. In many cases, the buyer will only find one or two homes that even come close, so knowing what they're comparing your listing to is critical.

Second, it's important to know WHY that active competition hasn't sold. Especially if it appears to be "priced well." You'll never know for sure why a house hasn't sold by looking at the MLS, although you may have your suspicions. It's not as if the listing agent is going to tell you that the house reeks of cat urine or point out that there's no bathroom on the main floor.

So, when you're previewing, ask yourself...

WHY hasn't this house sold?

WHAT makes it superior (or inferior) to "my" listing?

HOW could the listing agent do a better job marketing this home?

WHO is the ideal buyer for this property and is it the same ideal buyer as "mine" will attract?
(I can't think of a "when" or a "where," so I'll move on).

Training yourself to ask these questions at every house you preview makes you a better previewer, and therefore, a better pricer. It also helps you to remember each house so you can speak intelligently about the competition with your seller when discussing pricing, as well as down the road when that homes' status changes (sells, withdraws or reduces the price), you'll be able to nod and say to yourself, "Hmmmm, I thought so!"

Speaking of down the road... this is another important reason to preview. When or if the competition sells, you'll be familiar with it in case appraisal problems come up on YOUR property and the appraiser wants to use comparables that aren't appropriate. If you've been IN all the comparables, it's much easier to make a compelling case!

Okay, ‘nuff about previewing. Next time, we'll talk about how to evaluate the SOLDs in your CMA to help you price your historic home in your urban neighborhood!

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Tips & Inspirations to Generate Business from the Very Important People Who Know You

The Homebuyer Tax Credit

June Piper-Brandon, CRIS, ePro, Broker (Advance Realty Anne Arundel Inc.) — Fri, 06 Nov 2009 10:43:14 -0600

The HomeBuyer Tax Credit

Great news! The Homebuyer Tax Credit has not only been extended, but it has also been expanded to include current qualifying homeowners. The following are some of the features of the new bill:

Deadline for current credit is November 30, 2009.
Deadline for new and improved credit is April 30, 2010, as long as the home is under contract by that date; deal must close within 60 days or no later than June 30, 2010.
Eligibility and amount of new credit:
- $8,000 for first-time homebuyers (those who have not owned a home in the last three years).
- Up to $6,500 credit for homeowners who have lived in the home they are selling (or have sold), as a principal residence for five consecutive years of the last eight.
Buyers with incomes exceeding $125,000 for single and $225,000 for married couples are not eligible for the full tax credit but may qualify for a portion of it.
Homes valued at more than $800,000 are not eligible.

Sooooo....if you are a current homeowner, you might be eligible for a $6500 credit. And if you're a new homebuyer, you can receive up to $8000 credit.

BUT, legislators on both sides of the aisle agree that this credit will not be extended again. They urge anyone considering buying a home to do so by next Spring. This should also inform potential sellers' decisions regarding listing a property. Time is of the essence. Fall and winter has always been a slow time in the home sale market, and prices tend to be lower now than in the spring market, so now would be the best time for buyers to buy homes.

June Piper-Brandon, Broker - Advance Realty Anne Arundel Inc.