An Open letter to the Sellers in Frederick County

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Dear Home Sellers,

Don’t hate me for my honesty. I am here to help you sell your house. That is what you hired me to do. I have sold plenty of Real Estate and I truly want to sell yours, but I need your help. You see, the real estate market is not quite the way is was a few years back when you bought it. I know you fell in love with it the moment you laid your eyes on it….you had to…the couple standing behind you were thinking the same thing (if not this house, what other house can I buy?) Inventory was low and the demand was high. It really seems like the price you paid in 2005 is about same price you can sell it for now…

Today, buyers aren’t standing in line outside your house the moment the sign goes up. The houses are lining up on the internet. With more that 2300 homes listed in Frederick County, how are you going to stand out from the rest? The main reasons a house do not sell; Price, Presentation and Location…You control 2 out of 3.

Your dated cabinets don’t compare to the newly updated kitchen that your neighbor has. I know that bright blue and yellow paint in the game room matches your alma mater, but the buyers are not impressed since they went to Penn State. You love your family and it shows and shows and shows…with all of your personal stuff displaying all through the house, it is hard for the buyers to see their family in this house. Your rooms look small with all that furniture in there….It’s time to declutter the house. Have a yard sale before you put it on the market. Give it away to Goodwill or other charities. (People are experiencing hardship all the time)

Speaking of hardship, I am sure you have been watching TV, plenty of home owners are experiencing financial hardships. Of course the media is not going to report all the home owners that are making their house payments…they love selling tickets to a train wreck. What happens when one of your neighbors experience a foreclosure? They have to sell their house quick. The price is lowered and lowered. But you’re thinking that’s a foreclosure…that won’t affect me!!! Unfortunately it does… That becomes your next comparable in an appraisal. RealtyTrac says we have 270 homes in Frederick right now going throught the Auction Process and 99 in preforeclosure. Combined, that is more than 15% of the homes that are currently on the market now. Not all of these homes are listed for sale right now… the owners are trying to save it themselves or the bank is already taking over the property. But they will be soon…priced lower than yours. Will yours show better?

I offer this advice, if you have to sell right now, be smart. The market is what the market is… You can’t sell a $100 bill for $125. Price is a key part of getting it sold quickly. The average days on the market is around 110 days. (30 days in 2005) If you don’t have to sell right now, wait it out…we will make it through these tough times. But in the mean time, prepare your house for when the market turns in your favor.

Declutter
Update your much needed appliances
Fix up everything that has been on your list
Nuetralize your paint colors
Landscape - curb appeal
Seek the advice of a REALTOR®

Sometimes the truth hurts…I am here to help you understand the market so you can make informed decisions.

Best Regards,

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October 3, 2007 · Filed Under Frederick MD Real Estate, Market Condition, seller

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Housing Market in Frederick MD

We are starting to close in on another year. It’s hard to believe that 2007 is almost in the bag. The Frederick Fair is here, the leaves are about to fall, and I mean fall, since it has been so dry. Time sure flies when you’re having fun…. The Frederick County housing inventory has climbed to 2338 as of right now. The new homes to the market have pretty much been flat all year with an average of 18 new listings every day. Granted some of the listings were ones that were previously listed with another agent. Sellers have been pretty frustrated in this market. They haven’t been getting the price that they truly wanted. It’s not the agents fault…the market determines the price. With Foreclosures in Frederick County on the climb, (Currently 95 in Preforeclosure and 226 in Foreclosure status according to RealtyTrac.) pricing is a moving target. Unfortunately, foreclosures and short sales are your next appraisal and it will impact your sales price. You will need to lower your price, if you want to move on to the next step…this is a reality. Loans are harder to get and also harder to keep together. With all the changes the Mortgage market is going through, sometimes they are disintegrating before they get to closing. So here, as the seller you will also need patience. Lenders have been giving out money way too easily and now we are paying for it. Paying for in a sense that we have been spoiled. We have been used to lenders jumping through hoops to give out money. Now they make the buyer jump through hoops to get the money…not as easy any more.

Here’s a chart of a few numbers over the past year.

Past market updates;

September 17, 2007 · Filed Under Buyer, Frederick MD Real Estate, Market Condition, frederick real estate, seller

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Casual Dress Friday or is it -Staging your home

OK, Its Friday…time to poke a little fun. You have heard of the old saying “You can put lipstick on a pig, but its still a pig” I didn’t have a picture of a pig in my photo collection, so I am using a black cow. OK not just any black cow, but Black Angus Cow. No matter how you dress him up…(Yes, he is in “Drag”) He is still a cow. Since, they were marketed so well, the Black Angus Beef was the preferred Steak in your stores and restaraunts. Don’t believe me look at the shelves in your meat department and the ones that stand out are the ones that have the big seal on it that says Certified Angus Beef. Well, some farmers jumped on that wagon and started to breed “Black” Cows…not Angus, but just black cows. Why?? They were preferred!!! Beef purchasers paid more…because they “look” like Black Angus Cows.

You can do the same thing with your house. Dress it up and make it more attractive to the “Beef Purchaser” In real estate, we call it staging. By staging, you set focal points in your house to make buyers see your house through a different light. Maybe, its matching towels and floral arrangement in the Master Bathroom or rearranging your furniture and wall fixtures to maximize the usuable space in a room. In todays market as a seller, you really need to have the upper hand on your competition. It has been proven that “Staged” homes have sold for more and much quicker than “unstaged” homes. Here’s a trip outside of Frederick to Rockland County NY for example of what staging can do for you. Click Here. Maureen Henry runs a successful business helping Sellers attract more buyers. You can see what a little effort does to the home. Unfortunately, plenty of homes that I have seen in Frederick County don’t show well because of simple things like a good cleaning…and they are still on the market. Well, we aren’t in Rockland we are in Frederick. One stager I can recommend is Gigi Giles…she’s local and has a great eye for making your home attractive. Her profession is organization and Staging. You can reach her at 888-No-Clutter (662-5888) or email here at gigi(at)roomdini.com.

No cows were hurt in the making of this blog post. Bob Carney only supports local cows from Middletown, MD. Black Angus Cow #556 approves this post.

June 22, 2007 · Filed Under Food, Fun, Staging, frederick real estate, seller

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Staging Real Estate, who us?

Here again, GMA (Good Morning America) is talking about real estate. This time the sky wasn’t falling. They were out to tell the world our trade secrets. What it comes down to is that the we secretly stage the properties to make them sell! Of course we do, part our job is to make ETHICAL suggestions to make your property as attractive to buyers as possible. You see there are real estate agents that don’t subscribe to a strict of code of ethics as REALTORSÂ® and may not be ethically in their suggestions to the home owners. By Maryland law, if there is a problem with the house..You have to disclose the fact. Anyways, back on topic…Yes we make suggestions to make the house more appealing to the buyer. Digitally repairing pictures has gone wild in today’s technology. Don’t believe me, look at your “Glamour Shots” photo…YOU LOOK GREAT (is that you?) Some REALTORS® use that same concept to enhance photos. Which one looks more attractive below?

The home owner had a grass patch down at the time of the photo. This is not hiding a problem. It is only making it more attractive for online viewing. This yard does look very similarar to the picture on the right now. GMA also said that agents digitally insert furniture into empty rooms. Now, that is a great idea. I don’t know about hiding the view out the window, like they said. If there is an ugly building outside the window, but the picture shows bright fluffy clouds. That’s a little deceiving. As most disclaimers on MLS sites say…Information deemed accurate but not warranted. You must verify all information yourself. (or something to that affect)

And yes, when we have the chance, we stage the showings. If possible, we try to show ones that are not as attractive early in the trip and put the more appealing ones closer to the end and then end with a dud. Don’t take this the wrong way. If you are working with a good agent, the agent will know what you are looking for in a home. Afterall he/she has been in the car with you for sometime, he/she will be able to pick up on your needs and wants. This process only helps you, the buyer, make a decision. In today’s market, you can see a lot of houses before you find the one you like. Good agents, are out looking at houses all the time, whether virtually on-line or physically in the house. Buyers can be awe struck by some of the cosmetics of the house and the excitement of the process. We try to match them up with all of their needs. Ultimately the buyer is still in charge and makes the final decision.

GMA mentioned about zillow.com. This is the latest buzz in the virtual world. My comment is this..Look at the pictures above..Don’t always believe what you see. Ask your agent to pull comparable homes for you. They will be so much more accurate. Now the secrets are out… we try to make homes sell.

48 new in the last 2 days
77 under contract in the last 7
1278 total homes active in Frederick County

March 24, 2006 · Filed Under Market Condition, Staging, seller

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