Hey Bob, How’s the Market?

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Prices are coming down…

The market in Frederick MD is not doing too bad. You always her from the National Association of REALTORS® that it’s a great time to buy…and it is. Sure it’s marketing, but it is applicable here. Prices are still coming down in the area. And there are some great deals to be had…I can speak to that because of the latest contracts that I have helped buyers negotiate. A few are better than 10% less than asking price. You have to do your homework. Don’t waste your time by just going out and trying to find the lowest priced home and then making an offer. Why? Chances are if the home is priced very low…you are not going to be the only one trying to purchase it. Yes, in this market there are multiple offers on homes. Banks have been creating a stir by offering homes at a very low price and causing buyers to compete for the home. So low ball offers are a waste of everyone’s time.

Price is not everything…

When you find the right home, you will know it. You will get that “I feel like I am home” feeling and want to make an offer. Do your research. Make sure you are making a legitimate offer. Sure it’s a buyers market, but that doesn’t mean you can disrespect the sellers asking price. Granted there might be times when the seller is not in touch with the market and be asking way too much for the home. Help them understand why you are offering what you are offering. Have your buyers agent provide supporting documents on recent sales. (aka CMA) Banks even reject low offers without countering. But now back to why price is not everything… Sometimes price is not the only factor in a sell. Banks lose money the longer they have it on the market. They are paying insurance, interest, utilities etc. This cost adds up quickly. So, if you are competing for a home…time is money too. A quick closing date might mean a world of difference. This also applies to homeowners selling too. They may need to get out before a certain time for either financial reasons or business reasons. In this case, they are less susceptible to accept an offer contingent on the sale of your home. In other words, it is best that you sell your home first then go looking. Would you wait for someone to sell their home so you can move? That could take a long time and there is no guarantee that it will sell. You will lose valuable time. Contingencies are another factor in your offer that might mean more than offer price. If you are willing to reduce the amount of contingencies, that also might help you win the offer.

It’s all about the negotiation…

First and foremost you can speculate about what the market is doing, but until you go out and buy or sell something…it really doesn’t make a difference about what it’s doing. It has no impact on your home what so ever. Really, it doesn’t. Think about it. If you are not selling right now and don’t plan on it, then the price of your neighbor is not going to affect you…right now. You didn’t lose any money and you won’t make any. What really counts in the real estate market is the day you buy your home and the day you sell your home. Between point A and point B has relevancy but no impact on your wealth. (unless of course you refi and cash out…that’s the gamble you take) In the end it comes down to negotiations. The Sellers Agent is doing all eh/she can do to keep as much equity in the sellers pocket and the Buyers Agent is doing that for the buyer. When the two finally meet they have to agree upon all the terms of the offer. This is all done through the negotiations of all parties involve. A little give and take. And again, price might not be all that important.

Most importantly…

You have the desire to buy or sell a home. Get out there and find the right home for YOU and then make it the deal of a life time. Interest rates are low and prices are…negotiable!

Call me when you’re ready…

Bob Carney 240-285-4918

Oh by the way here are some numbers for Frederick County.

Total Homes on market today - 2,298
Number of Single Family - 1,366
Number of Town Homes - 504
Number of Condos - 162
New listings the last 2 days - 7 (low due to holiday weekend)
Under Contract the past 7 days - 42

Have a great day.

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July 7, 2008 · Filed Under Frederick MD Real Estate

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Happy 4th of July

To all of Frederick and beyond…

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July 4, 2008 · Filed Under Frederick Events

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Where the hell has Bob been?

Working…working like a dog!!!

It seems like everyone has finally taken my advice and stopped listening to mainstream media. This little blog called “Focus On Frederick” is a little over a year old, but has taken grasp in the internet community and in the Frederick Community. Just about anything to do with Real Estate in Frederick, you will find “Focus On Frederick.” This blog has now become my second main source of business. First source has always been my most gracious Sphere of Influence (Friends, family, past and present clients) or basically referrals. I also need to plug Panera Breads, where I picked up two new clients last week. Julie, I will find that Lake side property in Gettysburg for you…no problem!!!

But the key thing I wanted to relay to everyone…Is that PEOPLE ARE BUYING HOUSES!!! Yes, I know contrary to popular belief, people are actually buying houses. Selling them too!!! They are selling the well priced and well staged homes. Buyers have too many to look at lately. I should know, I have seen every home in Downtown Frederick priced under $250,000 this past couple weeks…sometimes even twice. I have a new client looking this evening…so I am guessing, listing agents will see my business card on their counter tops again this week. Each buyer wants a deal, they know what they are looking for…you Mr. Seller have to have your “A game” on every time. Each buyer is different. Some can see through the clutter, overstuffed closets, piled up kids stuff and all the photos on the fridge. But some people can’t…can you take that risk?

I have been scratching my head trying to figure out what the common denominator is for all the activity and have not put my thumb on it. Maybe it’s the scare of interest rates going up. (you can see the most current rate to the right of this post for Maryland and Pennsylvania.) Keep in mind that the posted interest rates are best case scenarios. You will need to contact a local lender to find out what loan program and interest rate you can get. Maybe it’s the fact people are getting tired of waiting around for things to change. Or maybe it’s the public is finally gaining confidence in the upcoming election. Who knows!!! But anyways, I have been busy helping buyers and sellers.

And I am doing what???

I have recently helped Annie find her home downtown, working on a contract for Ron also in downtown Frederick, Dale and Susan from Texas have been looking for a very specific home and we are working on their offer today in Brunswick and finally Kevin and his family; selling their home and purchasing one a brand new home in Point of Rocks. Marion is ready to put together an offer for her downtown Frederick home. I meet with new clients tonight for their downtown Frederick home search. Now that’s just a few of the buyers that are happening now. I have sellers that I am helping market their home as best as possible. Keeping them abreast of the current neighborhood market activity. I also have some commercial property in Hagerstown coming up soon. I absolutely love it like this. Helping people find their next home and the feelings that are involved are why I continue to what I do.

So, I apologize for neglecting my little ole blog here.

How can I help you? Give me a call or send me an email. The market is ripe!

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June 30, 2008 · Filed Under Frederick MD Real Estate, Frederick Market Conditions

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Vacation time: Where to stay in Frederick

Ah, the open roads…even with the gas prices as high as they are, everyone needs to get away once in awhile and maybe that place happens to be Frederick, Maryland. Whether just passing by or staying for the weekend, you are going to need a handful of hotels on hand to make reservations. Yes, reservations! With over 1500 hotel rooms available, you will need to call first. Frederick is the crossroads to a couple major areas; Baltimore and Washington DC. It also has a few attractions of its own to draw visitors like the battlefields; Antietam and Monocacy. On top of that, Frederick, MD seems to be a popular stopping point for northerners heading to the beach like Ocean City, MD, Virginia Beach, VA and even the Outer Banks, NC. So, if you plan on staying in Frederick over the summer, you might want to call first.

Where to stay in Frederick, MD…

Frederick Hotels

Hotel	Phone Number	Address	Website	Rooms
Best Western	301-695-6200	420 Prospect Boulevard	Click Here	118
Comfort Inn Red Horse	301-662-0281	998 W. Patrick St	Click Here	69
Comfort Inn Rt 85	301-668-7272	7300 Executive Way	Click Here	73
Extended Stay	301-668-0808	5240 Westview Dr	Click Here	101
Hampton Inn	301-698-2500	5311 Buckeystown Pike	Click Here	161
Hampton Inn & Suites	301-696-1565	1565 Opossumtown Pike	Click Here	104
Hilton Garden	240-566-1500	7226 Corporate Court	Click Here	143
Holiday Inn Express	301-695-2881	5579 Spectrum Drive	Click Here	100
Holiday Inn Holidome	301-694-7500	5400 Holiday Dr	Click Here	155
Holiday Inn Rt 40	301-662-5141	999 W. Patrick St.	Click Here	158
MainStay	301-668-4600	7310 Executive Way	Click Here	73
Sleep Inn	301-668-4260	5361 Spectrum Drive	Click Here	84
Courtyard	301-631-9030	5225 Westview Drive	Click Here	90
Fairfield Inn	301-631-2000	5220 Westview Drive	Click Here	105
Residence Inn	301-360-0010	5230 Westview Drive	Click Here	90

Reasons to visit Frederick in 2008…

• Jazzed in June, Frederick, MD, June 21-22, 2008
• What Ails You? Medical History of 18th & 19th Century, Frederick, MD, June 28, 2008
• Frederick’s 4th - An Independence Day Celebration, Frederick, MD, July 4, 2008
• Frederick County Corvette Club Car Show, Frederick, MD, July 5, 2008
• First Saturday - Great American Main Street, Frederick, MD, July 5, 2008
• Civil War Encampment, Frederick, MD, July 12-13, 2008
• 144th Anniversary of the Battle of Monocacy, Frederick, MD, July 12-13, 2008
• Frederick Blues Festival, Frederick, MD, July 19, 2008
• Reggae Wine Festival, Frederick, MD, July 19-20, 2008
• 50/60s Days, Frederick, MD, July 26, 2008
• Jefferson Ruritan Community Carnival, Frederick, MD, August 1-2, 2008
• The Confederate Occupation of Frederick in 1862, Frederick, MD, August 2-3, 2008
• First Saturday - Dog Days of Summer, Frederick, MD, August 2, 2008
• Swingin’ Blues Wine Festival, Frederick, MD, August 9-10, 2008
• Rose Hill Day; Antique Car Show and Ice Cream Socail, Frederick, MD, August 17, 2008
• Golden Gears Club Car Show, Frederick, MD, September 6, 2008
• First Saturday - Around the World in 15 Blocks, Frederick, MD, September 6, 2008
• Great Frederick Fair, Frederick, MD, September 12-20, 2008
• Frederick Fashion Week 2008, Frederick, MD, September 18-20, 2008