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Seller/Homeowner Tips Category
Short Sales in Baltimore
Shorts sales seem to be everywhere and we at Yaffe Real Estate are here to help. Jessica and I will be getting our CDPE this month and we have a designated website just for homeowners considering a short sale. Go to www.AvoidMarylandForeclosure.com for more information and contact us to help.
Why Yaffe Real Estate does not trust the information on Zillow, Trulia & Realtor.com
This is a hot topic and this video explains why Yaffe Real Estate does not trust the accuracy of the information on Zillow, Trulia and Realtor.com. Those sites take our information and repackage it to the unsuspecting consumer. Even though this broker is in San Diego, he explains it well so I thought I would post it here.
Did you buy your Baltimore home in 2008, 2009 or 2010 and are now trying to sell it?
Did you purchase your Baltimore home in 2008, 2009 or 2010? Jessica discusses a recent New York Times blog article about pricing your home to sell. Watch and read below.
Do you want to know the value of your Baltimore home in today’s market? Click here to find out or contact Jess for more info.
http://bucks.blogs.nytimes.com/2011/07/19/homeowners-in-denial-about-value-of-properties/?emc=eta1
Is your agent taking advantage of video and social media to market your Baltimore home?
We have added youtube videos to almost all of our listings. Keeping current on technology and the way consumers search today is tough but SO IMPORTANT. If your agent is not marketing your home via video and social media, you are behind the curve. Check out our listings today – some GREAT homes on the market. NOW is the time to make your move.
All Real Estate is Local – Local Knowledge is Invaluable when buying a home in Baltimore
Local knowledge is invaluable when buying a home in Baltimore. What I mean by that is you can find listings online on any number of websites but who is going to decipher it all for you? Who has local knowledge and expertise? We do. When it comes to Baltimore, we know what we are doing. We can save you time, money and aggravation. Listen in as Kristin displays her local expertise. All in a normal days’ work for The Yaffe Team. Mediocrity is not an option. We strive to be the best – each and every day.
Juli answers the question – “How do I reset my dishwasher?”
Juli answers the question, “How do I reset my dishwasher?” You know, it is funny, since our property management business has expanded, we have learned all kinds of new things. Some helpful, some interesting, and some…well, put it this way, we know some of our people way too well:).
However, this is one tip that we thought you might want to know. One of those random things that pops up every now and then.
How to Fix Your Garbage Disposal
Broken Garbage Disposal?
We have all experienced that pesky broken garbage disposal! Did you know that often times you can fix your garbage disposal yourself?
Many times, the issue with your garbage disposal is simple. Either the garbage disposal is clogged or it needs to be reset. Both of these issues are easy to solve.
How to Fix Your Garbage Disposal
Watch our short video to learn these easy steps to fix your garbage disposal and avoid the costly plumber!
Easy Steps:
- Turn OFF your garbage disposal.
- Look into your drain. If you see an obstruction, carefully reach into the drain and remove the object causing the obstruction.
- If you do not see an obstruction, make sure your hands are out of the disposal, and turn on the disposal. Listen to what noise, if any, your disposal is making.
- Turn OFF your garbage disposal.
- If you heard no noise at all when you turned it on, you need to get under the sink and locate the red button. Press this red button, which will restore power to your garbage disposal.
- If you heard a humming noise, then you need to locate the wrench that came with your disposal. Get under the sink and put the wrench into the slot and turn the wrench. This will restore power to the disposal.
Baltimore Home Sales Jump in January!
We are definitely feeling some positive momentum here in Maryland with the real estate market. Home sales picked up by 17% in January 2011 versus one year a
go.
Will the momentum hold?
Yes, average prices did drop a bit – check out our Market Updates on our blog - but days on market has dropped for those homes that are priced right.
What is helping our economy? BRAC, BRAC & BRAC.
In Harford County, Aberdeen Proving Ground is jumping and sales in that area have bumped up 55% since last year. In Anne Arundel County, Ft. Meade has contributed to a jump of 33%.
Springtime is here in Maryland, both literally and figuratively. Let’s enjoy the “sunshine” while it lasts. Looking to buy or sell a home? Rent out your home?
We can help you with all of your real estate needs. Contact Yaffe Real Estate or Chesapeake Property Management today.
How to Price Your Home in the Baltimore Market Today
Actives, Pendings, & Solds, Oh My!
When we review housing prices with Sellers we look at a variety of numbers including Active Listings, Pending Sales, and Sold Homes.
Sellers invariably focus on Active Listings because those numbers usually look the most optimistic.
They may appear optimistic, but are they realistic? Not usually…just because a house is priced at one number does not mean that is what it is going to sell for. Looking at other Active Listings is not going to be an accurate way to determine at what price you should list your home.
Solds are only helpful if they are less than 60 days old. With a rapidly changing market, we need to base our prices on 3 criteria:
- What a buyer is willing to buy TODAY
- What a bank is willing to lend TODAY
- What an appraiser is willing to appraise TODAY
Houses that sold over 60 days ago are not going to be helpful in determining the price of your home because after 60 days that information is already outdated!
Actives are a seller’s dream, however not always realistic in determining what your home will sell for. Solds are a true history, but Pendings are the real deal!
Pendings, the Real Deal
The truth is that, for pricing purposes, the most important numbers are those of Pending Sales.
Pendings show what buyers today spend their money on. They are the most current and accurate regarding appraisals, financing and trends and therefore are the most reliable numbers when determining a sale price for your home.
If we’ve said it once we’ve said it a million times…Time is Money! Which is why considering Pending Sales numbers when pricing your home is so important. Overpricing your home will lead to less activity and, quite frankly, a waste of time…and money! You will end having to lower your price anyway…so why not start out at the correct price to begin with?
Here at Yaffe Real Estate, we are believers of getting it right the first time! We will shoot you straight from the beginning so that you don’t lose time…and money.
Contact us today, 410-902-1100…No pressure, just straight talk. Let’s get the real numbers, see if it makes sense for you, and then make the best decision possible for your situation.
It’s a Price War & Beauty Contest in Baltimore
If we’ve said it once, we’ve said it a million times…
It’s a Price War and a Beauty Contest!
The list price of a home and the condition of the home go hand in hand when selling. One without the other will not get a home sold quickly.
In other words, a home priced competitively in marginal condition will typically take longer to sell than a home priced competitively in excellent condition. The same can be said for a home in excellent condition that is not priced according to market value.
Frank’s Story
We recently worked with a client, let’s call him Frank, who is a prime example of the Price War and Beauty Contest analogy. Before Frank’s home went on the market, we pulled the comparables in the area and explained to Frank that he needed to be in a certain price point and that he needed to make a few upgrades to the house prior to listing. Against our advice, Frank’s home went on the market above market value without the upgrades to his flooring that we recommended.
Initially, he saw very few showings of his property and no interest from potential buyers. After 75 days on market and much pleading on our part, we finally convinced Frank that he needed to update the flooring. He was still not willing to listen to our suggestion that he also needed to reduce his price significantly.
So, Frank followed half of our advice and upgraded his floors. The upgraded flooring took Frank’s home from fair condition to excellent condition, however he was still seeing limited showings on his home. Even though the upgrades took his home to excellent condition, the listing price was just not competitive for the market.
After an additional 90 days of pleading with Frank, we convinced him that it was time to consider a drastic price reduction. At this point, Frank did listen to us and lowered the listing price by $20,000! It worked…Frank was under contract within just a few weeks!
Just think of the money Frank would have saved himself if he would have listened to our expert advice from the beginning. If he would have priced his home competitively and upgraded his floors from the get go he potentially would have saved 6 months of mortgage payments and a lot of time and stress!
Lesson Learned
With the Real Estate Market where it is today, please understand that it really is a Price War and a Beauty Contest!
Homes that fit both categories are homes which will sell quickly. Homes that fit into just one of the two categories or neither of the categories are not going to win the contest! It is a really hard reality to face, but the faster you can face this reality and change your way of thinking, the quicker your home will sell!
Seriously, why pay 6 months more of mortgage payments when you don’t have to…learn from Frank. You can stop your mortgage payments and move on with your life.
Contact Yaffe Real Estate today to discuss your home. We will provide you with honest feedback on pricing and recommend any changes that should be made to the home prior to listing. We are here to help make the sale of your home as quick and painless as possible!