Baltimore Real Estate Video Blog with Lee Tessier

How We Helped Richard Rainer Sell Their Home in a Week

"Everything that they did was quick as far as putting our house up on the market and the house sold with a contract within seven or eight days after being on the market. Joe, who was representing the house, did a great job of communicating back and forth with everything throughout the process. They were always on top of everything, and were always one step ahead of everyone else."

How We Helped Peter Marsh Sell His Home Despite a Challenging Market

"They are a very professional, comprehensive, and warm group of people to work with. Lee is a consummate professional and understands the market well. He understands whats going on and keeps you in tune with what is going on, even if its after hours. He'll call you and return your calls continually. I can't say anything but great results and great feedback. He was constantly thinking additional strategy, with different ways to market the house. When certain things weren't' working, he would continue to use his resources, people and ideas to try and find new ways to expose the property, and discuss strategy. It was a continuum of staying focused on the task at hand, which was getting the house sold in a tough market."

How Lee Guaranteed a Sale for Peggy Stein

"The results were great! They were very cooperative, and emotionally soothing when we were fretting about stuff. My home had been up for sale for several months, and had lots of showings but no offers. It was pretty miserable, and we knew we couldn't retire until we sold. Lee knew this, so he took us into his office and wrote up a guarantee sale for us, and that gave us a lot of emotional support. It really took the monkey off our back, I guess you could say."

Happy Holidays from the Lee Tessier Team

There are many great Baltimore area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (410) 638-9555 for a FREE home buying or selling consultation to answer any of your real estate questions.

We're very grateful to have the opportunity to be part of a successful real estate team, and that's why we like to give back to the community as often as possible.

This year we've managed to buy shoes for 45 children in the Baltimore area for the Harford Family House's Christmas Shoe Drive. If you would like to donate or make a contribution, please don't hesitate to contact us.

We'd also like to thank for your help this year. We couldn't have sold 300 homes this year without your patronage and referrals. We expect to sell nearly 340 homes this year and we expect to do at least $90 million in sales.

Keep in mind that the market in Baltimore is still moving at a fairly brisk pace, so if you want to hop off the fence, now may be the time. Don't hesitate to reach out if you're in need of advice.

Should You Take Your Home off the Market During the Holidays?

Should you take your home off the market during the winter months or not?

Today I want to address a question we’ve been getting a lot lately from clients, “Should I take my home off the market during the winter months or not?”

There are two schools of thought at work here. The first is that you should take your home off the market, reset, and re-list in February or March, when buyer activity picks up. The other option is to stay on the market, address a few possible reasons your home hasn’t sold yet, and try again.

We recently had a seller who had a home that wasn’t selling, but after repainting a few rooms, making a few adjustments in the house, and a minor price tweak, the home sold within a week. This time of year is great for showing homes, and you can take advantage of that fact to sell your home quickly and profitably.

For those that do decide to take their home off the market temporarily, this is the perfect time of year to prepare your home for listing on the market in February or March. We’ve been meeting with sellers who plan on selling next spring to go through their homes and figure out how they can prep it for the highest sale price possible. We know exactly where you need to spend money on improvements in order to get a great return so you get the highest possible price in the spring.

There are some hot areas of the market where we are seeing multiple offers, but not all segments are moving well. If you have questions about your specific area and what the market is like there, we would be happy to answer them for you. We’d be happy to go over the numbers with you and decide if it makes sense for you to stay on the market, or wait until spring to list your home. We look forward to speaking with you soon!

Have You Reserved Your Free Pie?

Thanksgiving is right around the corner, so today we wanted to give you the details regarding our special event coming up!

Once again, we are hosting a client appreciation event for all of our current and past clients. This year’s event will once again be at Liberatores Ristorante in Bel Air. The address is 562 Baltimore Pike, and this year’s event will be held on Tuesday, November 24th, from 4-7pm.

In addition to an open bar and some light snacks, we will also be giving away delicious free pies. You have your choice between pumpkin or apple, and we’ll send you home with one on your way out the door.

To RSVP, please contact Rose@leetessier.com. She will get your name marked down, and also take your pie order (limit 1 per family). Make sure you RSVP to Rose by November 17th, so we can get all the pies ordered.

We look forward to seeing you soon and are excited for the party! If you have any questions for us, don’t hesitate to reach out. We can’t wait to see you soon!

How to Make an Informed Decision When Buying

Today, our buyer specialist Julie Munchel joins us to share a little about herself and what she does to help clients!

Julie has been on the team for five years and has been in the business for 13 years. She has experience in all areas of real estate, but her expertise is in helping buyers find the perfect home.

Julie believes sitting down with the buyer and having an in-depth conversation is a very important thing to do before beginning the home search. A lot of times, believe it or not, the two people who are looking to get a home together are not on the same page - they don't even know what the other one wants! That's why Julie loves to meet with her clients before she begins showing homes. It gives her a chance to discover their wants and needs so that she can be as helpful as possible to them.

An important thing Julie communicates with buyers during that first meeting is that she is only one part of the team that is working to accomplish the client's buying goals. There are several admins who are always available, even when Julie is not, to answer questions, set up appointments, and take care of paperwork when needed.

Julie's goal is to save her clients time by finding out exactly what they want and then finding homes that meet those criteria. That first meeting typically results in a smooth and successful buying process, which is what everyone involved wants. The biggest value in using a buyer specialist like Julie is the experience she brings to the table to get the job done right and in a reasonable amount of time!

Buying a home is a huge financial decision; Julie understands this and will act as your expert advisor so that you make an informed move. If you would like to learn more about how Julie can help you buy or if you need real estate assistance of any kind, please don't hesitate to reach out to us! We would love to hear from you!

Baltimore Real Estate Market Update

Today, I want to give you a quick market update. You may have noticed a lot of new construction signs out there. New construction is coming back, and lots are going for sale all over Harford County.

There has been pent-up demand for building over the last few years, and that's finally coming to fruition. The sweet spot of the market for new construction is in the high $400,000s. New construction, single-family homes with four bedrooms and a two-car garage is a particularly busy section of the market. In certain school districts, the demand for these homes is even higher.

In all of Harford County, there are about 240 active and under contract homes. Through the summer, we've seen a bit of a slowdown on showings. That should pick back up now that kids are back in school and vacation time is over.

If you have any questions, please give us a call or send us an email. We'd be happy to help you!

How Do the New TRID Guidelines Affect You?

Today, I want to touch on some big changes coming to the industry that were supposed to begin August 1.

The new lending guidelines, or TRID, have been pushed back to October 3. Some forms are merging to be more consumer-friendly, and there is one form that is altogether new. These guidelines were put forward by the Consumer Financial Protection Bureau in order to make the closing process easier.

There will be a transition period once TRID goes into effect in October. The biggest changes are on the banking side, as there will be a lot more disclosure that will be done up front as you're going through the lending process. This will make it a bit easier on you, as you will not have a bunch of forms put in front of you that you might not understand.

These changes are all based on loan applications submitted after October 3. If you put a contract on a house after October 3, you'll have to abide by these new regulations, whereas if you write a contract application in late September, you will abide by current regulations. Once the changes go into effect you will have to get your documents to the settlement company at least three days prior to settlement, so there will no longer be last-minute document exchanges.

If you would like more information about these changes, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!

What's Going on in the Baltimore Market

I want to take the time today to wish everyone a happy Fourth of July weekend! I know a lot of you have Friday off and a long weekend ahead, and we hope you have a safe and fun-filled celebration. With that said, I want to give you a quick update on the Baltimore market.

Prices are pretty flat in our area year over year, but sales are up 25% in Baltimore County and just over 30% in Harford County. The higher end market is still pretty slow, but the market generally has been pretty hot compared to 2014. There's a shortage of homes in the $200,000K-$300,000K range, so if you have a home in that range, you may benefit by listing soon.

If you have any questions about our market, or if you need real estate assistance of any kind, feel free to reach out to us at any time. We're always here to help!

Thanks, and have a safe and happy Fourth of July!

Have You RSVP'd to Our Client Appreciation Party?

As a thank you to all of our loyal clients, we want to invite you to our annual movie event! This year we are very excited to treat you to a screening of Jurassic World at Loews Movie Theater White Marsh on Saturday, June 13.

In addition to treating you to one of the year's most anticipated blockbusters, we are going to have tons of freebies and other prizes for you to win as well. Movie tickets, popcorn, food, and beverages will be provided by our team as a thank you to all of our loyal customers.

On Saturday, June 13, meet us at the theater between 9:00 and 9:30 a.m., where we will have a complimentary breakfast for you. After that, you can test your movie knowledge with trivia from 9:30 to 9:45 a.m. Prizes will be given away!

RSVP soon, because space is limited. Let us know how many people will be attending with you by giving us a call or sending us an email!

In addition to all the above, we will also be drawing for a few extra special prizes, including a flat screen TV and a $400 Visa Gift Card. There are multiple ways for you to enter to win the gift card, here they are:

1. Schedule a time with us to do a video testimonial. To set one up, just contact Melanie in our office at (410) 638-9555 or send her an email at Melanie@leetessier.com

2. Pick two out of three of these sites, and complete a few reviews of our team online:

Zillow:

1. http://www.zillow.com/profile/Lee-Tessier-Team/

2. Click Write a Review (gray box)

3. Complete Form

4. Click Submit Review

Yelp:

1. http://www.yelp.com/biz/the-lee-tessier-team-bel-air-2

2. Click Write a Review (red box)

3. Complete form

4. Click Post

Trulia:

1. http://www.trulia.com/profile/lee-tessier-team-agent-bel-air-md-862782/reviews

2. Click Write a Review (orange box)

3. Select Service Provided

4. Complete form

5. Click Sign up & Post

If you have any questions for us, or want to RSVP to the event, give us a call or send us an email. We look forward to hearing from you!

What Trends Are We Seeing in the Baltimore Market?

The weather is warming up and spring is nearly here. Today we'll go over the latest numbers for Baltimore and Harford Counties as we head into the busiest season of the year.

In terms of closed sales, we have seen some great numbers so far in 2015. This year, closed sales are up by about 35% from where we saw them at this point last year.

Another trend we are starting to see is a lot more homes that are For Sale By Owner (FSBO's). If you are thinking of buying or selling a home like this, there are some pitfalls that you need to be aware of in the market.

The first is overpricing your home. Coming in at too high of a price, especially as a FSBO, will either cause your home to sit on the market much too long, or you will find a buyer, go under contract, and then see the buyer back out at the last minute due to the price.

We have been seeing buyers make faster decisions than they ever have before. It's important to not make a snap judgement when buying or selling real estate, and it's important to do your due diligence as well.

One trend we have to mention is that FSBO homes fall through at nearly a 30% rate. When you are thinking about purchasing one of these homes, it's important to have guidance through the transaction so that you are ready to make your move when the time is right.

If you have any questions for us, feel free to give us a call or send us a quick email. We look forward to working with you soon!

Important Financing Changes in 2015

Baltimore Real Estate Agent Lee Tessier of Keller Williams American Premier Realty talks home loans and financing updates for home buyer in the Baltimore area.

This year we're going to see some significant changes in real estate financing, all of which could impact your buying power. These changes could greatly impact your Baltimore or Harford real estate transaction, so I'd like to share and explain to you what is going on and how these changes may begin to affect you. I've outlined a few below, but always feel free to reach out to me with further questions - these changes can sometimes be complicated.

FHA has Reduced their PMI by 0.5% on a Monthly Basis: This means that on a $200K home you could expect to pay about $80 less per month, which increases affordability with interest rates now falling in the low 3% range. However, rates could jump to 5% by the end of the year, which gives buyers another reason to act now instead of later.
Grants for First-Time Home Buyers: There are currently a lot more grants available for first-time home buyers. FHA, CDA, FHLB, USDA, and many more are available, but make sure you're using a good lender to get these loans. Be sure to contact us for access to some of our preferred vendors in the Baltimore or Harford area.
FHLB is back: Funding begins on January 20th and the income limits will be slightly higher this time. The grant is once again a maximum of $5,000, though $7,500 is available for firefighters, first responders, police officers, teachers and licensed health care workers.
Loan limits for Fannie Mae and FHA have increased: Up to $517,500 from $494,500 in most areas, but some are even higher. That means lower down payments on some higher priced homes, which really helps with affordability.
Fannie Mae has come back out with a 3% down purchase: There are two kinds, one for first time buyers that offers a reduced mortgage insurance premium. Be sure to ask us about the other.

There have been more other important developments in regards to financing, so please be sure to give us a call so you don't end up paying more for your home than you really have to.

Also, if you have any further questions or would like to know more about how the Baltimore or Harford real estate market is shaping up, be sure to call or email us. We'd be glad to assist you.

What Will Happen in Real Estate in 2015?

Baltimore Real Estate Agent Lee Tessier reviews some of the upcoming trends for 2015, outlining many of the different market conditions and how they're expected to impact both buyers and sellers alike.

Today I just wanted to do a quick market update for you on what happened in 2014, and what we expect 2015 to bring us. This year was great for us. We ended up selling 274 homes, and took great pride in providing excellent customer service to all our clients.

We expect 2015 to be a fantastic year in real estate. This is the year that we will really see millennial buyers come out in droves. With all the new first-time home buyers entering the market, it will be an opportunity for those of us who already are homeowners to move up into a newer, better home.

Buyers have been taking advantage of low interest rates for quite some time now. In the next 3 quarters, they are expected to rise as much as 1%, so keep that in mind. Just a 1% increase in mortgage rates will decrease your affordability by about 10%.

Another thing to keep an eye on is the 3% down payment loan options that will be coming on the market. FHA, Freddie Mac, and Fannie Mae are each coming out with 3-3.5% down payment mortgage options for first-time home buyers, or for anybody who can't afford a large down payment.

A few more important points for you to remember:

With low oil prices, energy costs are going to remain low this year.
If you've been thinking about investing in a rental property or two, now is a great time. For a $1,000 a month payment, you can rent out the property for $1,300 or $1,400 a month.
A stronger economy will give consumers more confidence in the coming year.

If you have any questions for us at all, we would be glad to answer them. Just give us a call or send us an email.

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About

Lee is a 37-year native of Baltimore and has a great passion for Real Estate. Having worked in the sales industry for more than 25 years, and with 80% of his business from referrals, he is known for following through and getting the job done. To prove it, he guarantees that if he doesn't get your home sold, he'll buy it. His goal is to ease the stress of your buying and selling experience by accompanying you through every step of the process.

Lee has successfully served over 500 families in the last six years, and believes that any time is the right time to buy or sell if you have a skilled professional to serve you. He values education and devotes his time to keeping up with industry trends by regularly attending industry conferences, and has obtained a number of professional designations. Whether it's marketing, writing contracts, managing short sales, or negotiating complicated contracts, Lee is your guy.

January 2018 will mark 12 years in the real estate business for Lee. In those 12 years Lee and his team have successfully helped over 2,400 people buy and sell their homes, so you are guaranteed to be working with an experienced Realtor. At the Lee Tessier Team, we always put our clients first and never chase a commission. If you are interested in learning more, feel free to check out our mobile-friendly site at LeeTesser.com /">LeeTesser.com

Lee Tessier
Tessier Real Estate
2225 Old Emmorton Road
Suite 207
Bel Air, MD 21015
Office: 410-638-9555
Lee@LeeTessier.com

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