June Market Update for Baltimore

Now that we’re halfway through the year, it’s as important as ever to stay up-to-date with what is going on in our Baltimore market. Here are a few of the things you need to know.

Today I’d like to talk about what’s really happening in our Baltimore real estate market. 

With about 80 homes under contract at any given time, we’re now seeing pockets of both buyer’s markets and seller’s markets.

While it’s true that our local market is getting better, other states such as California, Arizona, and Florida have only about one and a half months of inventory compared to our five, almost six, months.

So, really, when you look at the market there are a number of factors to consider in terms of the big picture such as area and price point. 

In Hartford County and Baltimore County, for example, homes priced $500,000 and above are moving more slowly.

"The key thing really is to know what is going on in your market including the negatives."

The key thing really is to know what is going on in your market including the negatives, whether there are a lot of multiple offer situations, and so on. 

Oftentimes in this competitive market, issues occur when a seller is confronted with the prospect of needing to make repairs but is hesitant because they feel they are safe as a result of having multiple offers.

Unfortunately, this can result in the home going back up on the market, causing it to take longer to sell.

There are some issues going on in today’s market. But ultimately, these can be worked with as long as you are aware and your agent is proactive.

If you want more information or have any questions, we welcome you to call or email us. We look forward to hearing from you.

What’s the Latest News From Our Baltimore Market?

Our Baltimore market is hot right now, but that doesn’t mean buyers and sellers don’t need to be mindful of a couple things before making a move.

Spring has brought us some nice weather, but what’s happening in our market right now?

Things are very busy and very hot. One thing I’ve been noticing lately, though, is home sellers thinking they don’t need to stage, declutter, and depersonalize their home before listing it. 

If you’re a seller, you still need to prep your house for the market. If you need painting or carpeting done, make sure you do it ahead of time. You can also make use of “Coming Soon” signs so that people know you’re getting ready to put your home on the market while you’re prepping it. Like I said, our market is very busy, and I don’t want you to enter into it with false expectations.

"Finding the best financing is just as important as finding the right house."

I’ve talked to our own stager about this problem and she said in today’s market, some people are skipping the staging process in the beginning because they assume their home doesn’t need it. Sure enough, these same people are calling her a month later after they see their neighbor’s house sell and their own stay on the market. 

On the buyer side, we’re seeing multiple offers on a lot of properties, so the first-time homebuyer market is very active. The move-up market above the $500,000 range is slightly slower, though. Interest rates are still very low and could possibly dip again, but we’ll see what happens over the summertime because last year they decreased during the summer months. 

If you have any more questions about our market or are looking to buy or sell a home, please give our office a call. We look forward to helping you.

How to Make an Informed Decision When Buying

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.

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 and Harford County Real Estate Market Update for Fall 2014

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. 

Thanks for joining us once again. We want to give you an update on what's going on in the market right now. We have been extremely busy throughout the summer due to the market lagging behind this year by about 5 or 6 weeks. The Spring season, which usually begins in early March, didn't start until April. Like we said, the summer was extremely busy for us but it allowed us to make up for a lot of lost time. This July was our best month ever as we sold over 40 homes.

 Here are some market statistics you should be aware of in Harford and Baltimore Counties:

• The average days a home is on the market in Harford County is 80 days. Our team's average is 29 days 
• The average list-to-sell ratio in Harford County is 95.2%. Our team averages 98.44%. We are listing our homes much more appropriately and getting more money for our clients than most other agents. 
• In July in Harford County, sales were down 6.5% from July 2013. Our team saw a record month, increasing our July output by 22% from July 2013.

You hear a lot of different statistics and numbers in the news. Take those with a grain of salt. A lot of statistics are misleading, so you should seek out the advice of a local expert so that you can decipher all of the information out there. A local expert knows the market, and is someone to trust with helping you make real estate decisions.

If you have any questions about the market or about anything else, please give us a call or send us an email. We'd be happy to get you going in the right direction!