Podcasts about houses for sale in baltimore

Our Baltimore market is slightly ahead of the seasonal schedule. What’s the latest news from our Baltimore real estate market? In short, it’s super busy and the prices are pushing upward, which is great for sellers and a bit frustrating for buyers.  In Baltimore and Harford counties, homes have appreciated just under 12% since January and February of last year. In Baltimore County, unit sales have increased about 10.5% in that time, while Harford County sales have increased about 5%. Demand is high, and the way homeowners are using their homes has obviously changed since the beginning of last year, with so many people working from home or their children having to school from home. “For anyone who needs to sell first in order to buy a new home, get your current home ready to sell now.” We’re also seeing a lot more listing appointments from people prepping for the spring market, so we’re slightly ahead of the normal seasonal schedule. In certain neighborhoods, where there were previously no homes on the market, we’re now seeing three or four pop up. The spring market is coming, and so is inventory (although not a ton). One particularly important question I got asked recently is, “What are we going to see with all the foreclosures?” These foreclosures probably won’t happen until the third or fourth quarter of 2021, so you don’t have to worry about a dropoff in pricing. We will see the number of offers that are significantly over list price decrease a bit, though; more and more buyers will only pay for what they really need going into the second half of 2021.  If you want to move and are hoping to take advantage of this appreciation, know that you’ll have to pay a higher price for your next home. Also, for anyone who needs to sell first in order to buy a new home, get your current home ready to sell now. The majority of sellers aren’t accepting contingent offers because they’ll likely have other non-contingent offers to choose from. Moving forward, we’ll probably see appreciation rates dip into the 3% to 5% range, but people will still pay more for homes due to supply and demand pushing prices upward.  If you have questions about our Baltimore market or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to hear from you. 

Here’s a recap of our 2020 market and what I expect in 2021. 2020 was certainly an interesting year for all of us. I hope you and your families are staying healthy out there. Back in March and April, we were panicked with the thoughts of what would happen in the real estate market. Then, in June, everything busted loose and we saw sale prices jump way up. We had been seeing a 1% to 2% appreciation in years past, but last year’s average price in June was up 10% from where it was in 2019. In certain months, we saw increases in sales as high as 30% in places like Bel Air. Even though inventory has declined, sales are up and demand is strong. Here in January, we’re at about 30% to 33% of where we used to be in 2019 in terms of inventory. This is great news for sellers, but not so much for buyers. “Sales are up and demand is strong.” Still, it’s a great time to sell, even if buying conditions aren’t ideal; there are ways you can be strategic about this process and make a seamless move into your new home.  This year I expect us to see a healthy 3% to 5% appreciation. We have such a lack of inventory that people are bidding well over list price on some homes. On the negative end, we’re seeing appraisal issues pop up as a result of these high prices. As we transition from 2020 to 2021, we’ll continue to see higher sale prices, low inventory, and more sales as long as interest rates and inventory remain low. If you are thinking about selling, know that the more you prepare for the market, the more your home will sell for. This includes decluttering, neutralizing, cleaning, etc. The more stuff you can get out of the house, the more spacious the home looks. If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Happy holidays to you! The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business. This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email and we’d love to help out. In case we don’t hear from you until 2021, have a happy new year!

If you’re looking for a change, know that we’re expanding. This is the time of year when everyone is starting to write down what their goals are for the next business year.  One of our goals is to expand a little bit further. I obtained my real estate license in the state of Florida and we affiliated with eXp in the Marco Island/Naples area. If you live in that area and you’re looking to join a real estate team that provides accountability, support, and training, I’ll be glad to help you there. “We’re looking for people who really want to put in the work to help their clients—customer satisfaction is key.” We’re also continuing to expand in Harford, Baltimore, Cecil, and Anne Arundel counties, as well as a few more locales. At the end of this year, we will have sold just over 500 homes and done around $145 million in production. So consider: Where do you want to go in your business? Are you in the right spot? Do you need a change? We’re looking for people who really want to put in the work to help their clients—customer satisfaction is key. If you provide excellent service to the client, you’ll make more money, enjoy your life more, and grow closer to the people you work with. Too many people fail to consider their futures years down the road, but our team specifically maps out where we want to be in, say, five years, and what kind of lives we want to lead. It can be hard to do this for some since life often throws us curveballs. However, there’s always a chance to correct your course if you don’t feel like you’re on track to reach your goals. If you’re interested in working with us in the Baltimore metro area or looking to move to the Marco Island/Naples area in Florida, give me a call at (410) 638-9555. I’d be glad to speak with you.

Here’s a quick update on what’s happening in our market area. Inventory is still very tight in our marketplace. Last year, we had about 2,200 units available—that’s down by 60% in Baltimore and Harford counties. Interest rates are currently at all-time lows. That’s great for buyers who, after spending much more time at home than ever before due to COVID, are finding that they need more space. Upgrading to a larger home is more affordable with these low rates. “Contingent offers will be tough to get accepted.” However, in this market, buying a home is more challenging than selling one, so be sure to reach out to an experienced agent to help you navigate the market. Also determine how much equity you have in your current home, which could be taken out to use for your next home purchase. Bear in mind that contingent offers will be tough to get accepted. If you need help to come up with a strategy for finding a new home, reach out to us. We’d be happy to help you get to the finish line.

Our summer market has been busy; here’s what’s been happening. It’s hard to believe it’s already August because the summer real estate market has been very busy, so today I’m providing our latest market update. We hope you’re all continuing to stay safe and keep your respectful distance from others at this time.  Interest rates are at an all-time low, and we have about half the amount of inventory as usual, which causes other issues. For most homes, we’re receiving anywhere from two to 10 offers, so we’re spending more time helping our sellers make the best decisions and working through any inspections or other contingencies. If you want to know how we can best serve your needs in this busy and changing market, give us a call.  This historically low inventory is making things interesting for buyers. Many who have been in the market for a little while have learned how to craft their offers to get them accepted, or are otherwise realizing they need to take their real estate agent’s advice on how to do so. We’re also seeing some sellers try to push the market and not be able to sell their house as a consequence; usually, if they push too hard at first, they will have to endure a price reduction or two before selling. Also, we’ve been seeing more appraisal difficulties pop up.  “If you want to know how we can best serve your needs, give us a call.” For expert assistance working through these complications, or if you want to know what needs to be done to your property to get it on the market, feel free to give us a call or send an email. If you’re a buyer who’s wondering what your strategy should be, contact us as well. We would be glad to speak with you. Have a great rest of the summer!

Sellers in our market have one simple question: What’s next? Here’s how to find the right path forward in this uncertain time. It’s only natural that I’m fielding more questions about the general state of the market with each passing day. So much has happened in such a short time, and guidelines for lending are changing almost daily. Interest rates have at least steadied and now hover around the lower 3% range.  Many potential sellers are wondering, “Is it time for me to sell or not?” We’re here to help you with whatever you need, but whether or not you should sell depends on your situation and comfort level. We’ve advised some of our older clients who are most at risk in this pandemic to stay off of the market and focus on keeping themselves safe—if there’s even the tiniest chance of exposure to COVID-19, it’s too great of a risk for them to take.  On the other hand, we have clients in the military who are in the middle of relocating to our area; they need our help to buy a new home because they’re having to rent back the one they’ve already sold.  “Inventory is low, so that means seller competition will be low too.” Everything is in flux right now, and one person’s situation looks vastly different than the next. If you’re just looking for accurate, up-to-date information on what’s going on in the market, please contact your agent or call us here at the office. We’d be happy to arrange a one-on-one Zoom call and explain what we’re seeing in your area and what you can expect as a seller or a buyer.  Overall, there’s a shortage of inventory, and multiple-offer scenarios are still common. In some of the low inventory areas across our market, our agents are seeing some properties sell within a matter of hours. Others are selling in just a few days, while homes in higher price points are lingering around much longer.  Reach out to us if you’d like to learn more about what’s happening at a specific price point. For those committed to going on the market, now is a great time to do so; inventory is low, so that means seller competition will be low too. We’re doing everything we can to keep people safe, and that includes using virtual presentations on all of our listings and offering 3D Matterport technology so buyers can be certain of their interest in a home before an in-person viewing is scheduled.  Stay healthy and safe, and remember to call us with any questions. We look forward to hearing from you! 

If you don’t live in a home that you have listed for sale, who is responsible for keeping the home show-ready? Here are my thoughts. If your for-sale home is still showing, you’ll want it to be in tip-top shape to impress potential buyers. However, if you’ve moved out of town, dropping by to tidy up isn’t always feasible. So whose shoulders do those maintenance tasks fall on? The easy answer is that the general upkeep of the house is the responsibility of whoever owns the house, meaning that if it has yet to sell, the seller is liable for how it’s maintained. Neighbors can also get quite testy if your home becomes an eyesore.  Don’t assume that your real estate agent is your gardener. Some people might consider relying on their real estate agent to maintain the house—after all, the agent does have a vested interest in making sure the home sells quickly and at a high price. While the agent might be up for the task, never assume they own this responsibility. It’s important to have that discussion up front so that there’s no misunderstanding. “Don’t assume that your real estate agent is your gardener.” A Realtor might also object to managing ongoing maintenance because it can put them at risk if they assume the responsibility and something goes badly. For example, if the agent sends over their favorite painter and the painter takes the cash for the job but never completes it (or does a bad job), the seller is likely to blame the agent. To prevent such a snafu, the agent might suggest a couple of contractors and then encourage the seller to solicit their own, as well; at the very least, the agent can recommend the seller to take care of the bidding and hiring process. Sellers can also hire property managers if they need help taking care of the property. No matter the situation, a helpful Realtor will have your best interests at heart and will be set on keeping the house in top-notch condition if you won’t be living there while its on the market. Be sure to strategize and discuss your maintenance plan with your real estate agent so that everybody is on the same page. If you have questions about selling your home or any other real estate topic, don’t hesitate to reach out to us. We at the Dailey Group look forward to hearing from you and helping you move with confidence.

Even though the stock market has dropped, real estate is still a stable investment. Lately, everyone has been talking about the coronavirus and the stock market dropping. Many are considering pulling out of the stock market in case it drops any farther, which leaves them looking for ideas about where to invest their money.  If you’re in this position, remember people always need somewhere to live, so you should consider investing in real estate. The market is very busy at the moment, and rental properties are super strong. Give us a call and we’d be happy to answer your questions, discuss the latest updates in the market, what your return on investment would look like, and where to find the best rental properties. I own around 20 properties myself, and I’d be glad to share my wisdom with you.

Here are four unexpected costs you should budget for when buying a home. If you’re a first-time homebuyer, here are four unexpected costs you need to budget for when buying your home: 1. Inspection fees. Once you’ve made an offer on a property and have gone under contract, you’ll usually have to pay a professional inspector a couple hundred dollars to give the home a once-over. If they find any problems (e.g., structural issues), you may have to pay another specialist to come in and offer their professional assessment.  2. Additional cash for the closing table. Buyers are often surprised by the additional cash beyond the closing costs that they need to bring to the closing table. For example, many lenders require you to pay a year’s worth of taxes and mortgage costs up front. If the seller prepaid any taxes or HOA dues, you’ll have to pay them the prorated amount for the rest of the year or quarter.  3. Moving costs. Once you close on the home, you have to pay for the actual move, and that cost will vary considerably depending on where you live, how far you’re moving, and how much stuff you’ll need to haul. In general, you should expect to pay at least a few thousand dollars if you hire professional movers.  “Buyers are often surprised by the additional cash beyond the closing costs that they need to bring to the closing table.” 4. Immediate costs. While you may be able to put off renovations or new furniture purchases, there are some costs you’ll have to face right away. For instance, you’ll probably want to hire a locksmith to change the locks, and there could be deposits and/or setup fees for getting your utilities started. As a new homeowner, you’ll also be on the hook for routine and unplanned home maintenance. You should expect something to break or need replacing within the first year, so establish an emergency savings account with at least six months’ worth of expenses in case your water heater stops working. This way, you won’t have to use credit cards to cover unexpected costs, and you can spend time enjoying being a homeowner rather than worrying about how you’ll be able to afford it.  If you have any other home-buying questions or real estate needs at all, drop us a line or send us an email. We’re here to help you and those you care about move with confidence. 

Today we’re discussing renting versus buying a home. Today we’re going to discuss renting versus buying a home. Which one’s better? Even though the housing crash was several years ago, some people are hesitant about jumping into the housing market. The question of whether to buy or rent ultimately depends on your specific situation.  If you are considering purchasing a home, here are some points to consider: How long do you plan on staying in the house? If you only intend to stay in the area for four or five years it may make more sense to rent than to buy.  Are you financially capable of purchasing a home? Do you have a down payment? What’s your credit score? How will a monthly mortgage payment affect your budget? We can help connect you to a trustworthy mortgage professional who can give you insight into those specifics.  Buying a home may seem expensive, but homeownership provides many financial benefits. By making your monthly mortgage payment, you’re building your own long-term wealth instead of your landlord’s. There are also many tax benefits to homeownership. In general, your net worth will increase significantly by making the change from renter to homeowner.  “Homeownership provides many financial benefits.” With interest rates still at historic lows, now is a wonderful time to buy a home. While your rent will increase each year due to inflation, you can rest assured that your fixed mortgage rate won’t change.  Lastly, buying a home means that if you want to make a change to your property, you’re free to do so, instead of needing your landlord’s permission.  If you have any questions about the benefits of homeownership, or you’re thinking about jumping into the market, give us a call or drop us an email. We would love to help you. The Dailey Group is here to help you and those you care about move with confidence. 

We’re hosting a downsizing seminar and you’re invited! We’re hosting a downsizing seminar for sellers. If you’re considering moving to a smaller space, be it another home, a retirement community, or even an out-of-state property, we have the information you’ll need. The seminar will be at Maryland Golf and Country Club at 1335 East Macphail Road, Bel Air, MD 21015 on March 25th from 5 to 8 p.m. We will provide dinner and drinks.  “There is no obligation—you do not have to do any business with us.” A financial adviser will be there to help answer any questions you may have, including about estate planning. An attorney will be present to answer any legal questions. We will also have agents, an accountant, a lender, a moving company and a stager there to help you with anything you need in this process. There is no obligation—you do not have to do any business with us, we simply want to help you.  We have limited space, so this seminar is reserved for the first 30 couples that sign up. Call or email us to register. If you reserve a place, please show up, as there are many who would want your seats. If you need to cancel, please let us know immediately.  If you have questions about this event or real estate in general, feel free to contact us. We would love to help you.

There are six questions you must ask an agent before hiring them. Whether you’re a buyer or seller, here are the six questions you must ask a prospective agent before hiring them to know that they’ll be able to get you the best deal possible: 1. How long have they lived in the area? This will give you an idea of their depth of knowledge of the area you’re moving to or from.  2. How long have they been selling real estate in the area? This will let you know what kind of transaction experience they have working with others in your community.  3. What has the local real estate market done in the last 12 months? You can then follow up this question by asking what the market is projected to do in the next six to 12 months. No one can predict the future, but Realtors can use historical trends to know what to expect.  “When choosing a Realtor to represent you, choose a professional.” 4. Do they have a comprehensive vendor list? Professional agents should be able to provide you with a comprehensive list of all the people you’ll need in your transaction (movers, an interior designer, an electrician, etc.). You should also expect these professionals to give you top-notch service because they rely on referrals from your agent.  5. What is their track record? More specifically, how many transactions have they done in the last six to 12 months? This will tell you whether they have the experience necessary to negotiate the best possible terms on your behalf. If they only sell a few homes a year, they might not. If they sell homes continuously throughout the year, they’ve probably seen every possible scenario. Would you go to a doctor who only performs surgery a few times a year or the one who does it several times each month? 6. Do they have the staff to support their business? Staffing is critically important because each staff member specializes in a certain job. They’ll have the training and focus needed to ensure you have a smooth transaction.  When choosing a Realtor to represent you, choose a professional. Ask these questions and make sure you’re comfortable and confident they’ll represent you the way you deserve.  If you have any questions about this or any other real estate topic, don’t hesitate to reach out to my team and me. We’re here to help you move with confidence.

The Lee Tessier is hiring in 2020, and we can take your career to the next level. Are you looking to join a winning team? The Lee Tessier Team is hiring, and we plan on having an amazing 2020 and beyond. We closed on 476 homes in 2019, and we have the support, resources, training, and accountability you need to make a positive change. The average agent sells fewer than five homes a year, but our agents average around 30. We’re looking to expand, and we want you to join us. If you’re interested in this opportunity, don’t hesitate to call or email me. I’d love to speak with you.  

Investing in real estate is a great way to build wealth. Here are four tips to help get you started. These are the four things that you absolutely must look for if you’re in the market to buy an investment property:  1. Projected income. If you’re getting into real estate investing, you’re probably hoping for a nice ROI, but you want to at least cover that monthly mortgage at a bare minimum. Charge rent based on the 1% rule. If you’re buying a property for $200,000, for example, you should aim to rent it out for $2,000 a month. In some parts of the country where property is less expensive, you may want to bump it up to the 2% rule. 2. Current tenant situation. You don’t want to buy a home on a whim and then get stuck in a nightmare situation. If there are tenants in the property, are they tenants at will? Do they pay? Get some clarity around these issues. 3. Overall condition. It’s impossible to find the perfect property, so be aware of what needs fixing in a home and whether you’re prepared to shell out the time and money to get it done.  “It’s impossible to find the perfect property.” 4. Utilities. If you’re looking at a multi-family property like an apartment building or duplex, you’ll want to know if the utilities are separate for each unit or all lumped into one. You’re more in the clear if the systems are separate. If they’re not, you’ll have to pay to separate them or foot the bill every month for the entire building.  Investing in real estate can be done locally here in Baltimore or in an outside market. Seth and I have several investment properties outside of Baltimore in an entirely different state, and we’d be delighted to talk about the opportunities that exist in the area to build your wealth. If you have any questions about investing in real estate, or anything else, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Friends,  Merry Christmas! We hope you and your family have a wonderful holiday.  We just wanted to take a moment to thank you for your continued support throughout the years. We wouldn’t be where we are today without your help!  It truly brings us joy to help you make your real estate dreams a reality. If you have any questions, please don’t hesitate to reach out to us. We’re here to help you in any way we can.  In the meantime, have a very merry Christmas!  Wishing you all the best,  Lee Tessier

We wish you and your family a wonderful holiday season from all of us at the Dailey Group! We wanted to take the time today to thank you for all of your support this year. 2019 has been a wonderful year, and it’s only because of the people we’ve met and helped move into new chapters in their lives. We have you to thank for all of those introductions. We work with excellent people, and good people know good people. From our family to yours, we wanted to wish you a happy holiday and an exceptional New Year. Thank you for being part of our family here at the Dailey Group; we’re always here to serve you. We enjoy working with and for you. For our full holiday message, watch this short video.  

If you plan on selling your home this fall, here are a few tips that will help you sell quickly and for top dollar. Temperatures are dropping, leaves are changing color, and pumpkin spice everything has taken over the world. With fall color and produce so prominent this time of year, you might be tempted to load up your home with an abundance of both, but if you’re a home seller, a little discretion goes a long way.  With that in mind, here are a few tips that will help you maximize your home sale this fall.  First, pay attention to your curb appeal. Too many fall decorations will take the focus off your home and its best features, but a few tasteful accents can create an inviting setting and make it feel fresh. You also want to make sure fall leaves haven’t taken a toll on your yard. Buyers may understand if your yard is unkempt—they’re living in the same reality—but that doesn’t mean it will make a good impression. “You may love the idea of blood and guts and skeletons rising from your yard, but will buyers be amused or afraid?” Second, go easy on the gore. Although Halloween has passed, it’s still worth keeping in mind if you plan on selling your home next year. You may love the idea of blood and guts and skeletons rising from your yard, but will buyers be amused or afraid? Anything that has the potential to turn them off is a big no-no when listing your house. Sticking to safe decor choices will help you appeal to the masses. Next, let in some light. It’s always a good idea to open the blinds and make sure all your windows are sparkling clean when selling your home, but now that the days are shorter, you need to maximize the natural light in your home. This will make it look bigger.  Lastly, make sure the space is inviting. As the weather cools down, a warm and cozy atmosphere will give buyers a pleasant and comfortable feeling. Use plush throws on the couches and beds, and add some fall-accented pillows for the couches and chairs.  If you have any more questions about how to sell your home in this or any other season, don’t hesitate to give us a call or send us an email. We’re here to help you move with confidence.  

How can you successfully sell your home and buy another at the same time? Today I’ll present both options. If you’re selling your current home and you want your sale to line up perfectly with your purchase of a new home, there are a few ways to go about it: You can either buy first and then sell or you can sell first and then buy.  No matter which path you take, it’s imperative that you review your finances first. Once you’re pre-qualified, or even pre-approved with a lender, you’ll have a better understanding of how much home you can afford. We’ll also need to decide on a price for your home, so we can determine your equity and how much you can feasibly put toward your down payment.  Here are two strategies for buying and selling a home all at once:  One option is to buy your new home first. If you elect to go this route, you’ll be able to search for a home at your own pace without any pressure to sell your current one. You also won’t need to find interim housing or organize a hurried move.  “Buying and selling a home in simultaneous fashion simply takes some pre-planning, strategizing, and of course, flexibility.” However, you could wind up juggling two mortgages at the same time, and we won’t yet know the amount of equity you’ll reap from your sale. We can come up with a ballpark figure, but we won’t have an exact figure until we’ve closed on your home.  A second possible strategy is to sell your current home first. With this option, since we will have already completed your sale, you’ll go into the market as a buyer, knowing exactly how much equity you have to work with. You may, however, need to find temporary housing, whether that’s with friends, family, in an Airbnb, or through a leaseback agreement with your buyer.  The bottom line is that buying and selling a home in simultaneous fashion is certainly achievable; it simply takes some pre-planning, strategizing, and of course, flexibility. We’ve helped a number of our clients successfully carry out both strategies, and based on our experience, getting home inspections and repairs out of the way early will make the process that much smoother.  If you have any questions about buying, selling, or investing in real estate, please give give us a call or drop us an email. The Dailey Group is here to help you and those you care about move with confidence! 

Our client appreciation event is just around the corner, and we’ve got all the details for you today. It’s that time of year again—time for you to mark your calendar for our upcoming client appreciation event. This year, this event will take place at Humagalas (16 Bel Air S Parkway, Bel Air) on Tuesday, November 26 from 4 p.m. to 7:30 p.m., and you won’t want to miss it. There will be plenty of food (including pumpkin pie), an open bar, and, of course, chances to mix and mingle with your friends at Tessier Real Estate. If you plan on coming, make sure to RSVP by sending an email to georgie@leetessier.com by NOON on Tuesday November 19th. And if you have any other questions or would like more information, don’t hesitate to reach out. We hope to see you there!

Here are four tips to remember if you plan on living in your for-sale home. Your home’s always been a sanctuary, but once that “For Sale” sign goes up in your front yard, you need to be ready to bare it all. Eager Realtors will be waiting to come through your front door, and potential buyers will look through every nook and cranny during open houses. All of this will happen while you’re trying to continue living your life as normally as possible.  If you’re preparing your home for the market, it shouldn’t feel like your home anymore at all. Here are four tips to prepare you for the hectic life that comes with living in your for-sale home: 1. Start packing now. The secret to making a clutter-free home is to remove the things you can live without while your home’s on the market—store it, sell it, chuck it, or donate it. While you’re packing, work on decluttering, donating, or throwing away the things you don’t need. It will give you a headstart on moving, and buyers will appreciate the extra space. Charities like the Purple Heart Foundation will pick up your donations free of charge. I use them at least once a month myself.  2. Get squeaky clean. If you’re lacking the motivation to clean up every cobweb or scrub the floor, know this: A clean home will add thousands of dollars to your sale price. Aim for five-star perfection when cleaning your sinks, mirrors, windows, and toilets. Or just hire someone to do it for you.  “Moving is never easy, but hopefully these tips will make it easier for you.” 3. Maintain your privacy and safety. People will look through your drawers, closets, and medicine cabinets at open houses and showings, so don’t keep anything in the house you don’t want anyone else to see and protect your valuables. When in doubt, just lock it up.  4. Involve your kids in the process. Make the preparation process into a game and challenge them to see who can clean up their toys the fastest. As a mom, I know how hard this can be, but you’d be surprised how cooperative they are and how much fun they have once it’s showtime.  Moving is never easy, but hopefully these tips will make it easier for you. If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you. 

Do any of these four situations ring true for you? If the answer is yes, it might be in your interest to downsize your home. Most of us think about the path to homeownership in terms of gradual upsizing. Early in life, a young couple buys a starter home until they start a family or their family outgrows their current arrangement. As their combined incomes grow and they become more financially stable, they move into a higher-priced, larger home.  However, for some, there comes a point where a smaller living space simply makes the most sense. On that note, here are four clues you might want to consider downsizing your home:  1. Retirement. This is one of the most common reasons homeowners entertain the idea of downsizing. Nowadays, with increases in the cost of living, some retirees end up outliving their retirement savings. Taking that into consideration, if you’re entering retirement yourself, downsizing doesn’t sound like such a bad idea.  2. Too much anxiety. This could be brought on by a whole host of factors, including upkeep and maintenance. Once your home leads to more stress than it’s worth, you may want to think about downsizing. Many aging homeowners find that caring for their home and keeping up with bills has become increasingly difficult—especially if one spouse has passed on. For the surviving homeowner, downsizing may very well soothe those anxieties. The price of a smaller condo or apartment is easier to manage financially and the responsibility and cost to maintain the home would be included in your monthly fees.    “Retirement is one of the most common reasons homeowners entertain the idea of downsizing.” 3. Unused space. If you feel like your home is swallowing you whole and you have an overabundance of space, this might also mean you ought to downsize. Maybe you have unused rooms that need cleaning simply because they’re collecting dust and cobwebs. If so, moving into something smaller will allow you to better manage your space.  4. Opportunity costs. Perhaps your home has appreciated quite a bit over the years and its equity is there for the taking. If that’s the case, consider buying a nice luxury condo or townhome or even buying investment property with your home’s equity. If you have any questions about downsizing or real estate in general, please don’t hesitate to reach out to us. The Dailey Group is here to help you and those you care about move with confidence! 

How long will your home take to sell? It depends on these factors. According to Realtor.com, the average number of days on market nationwide is about 65 right now. However, there are some different factors that will determine your number when you list your home.  The first is location. How close you are to a main street or transportation hub will play a huge role in your home’s value and the speed at which it sells. Then there’s price. You definitely don’t want to overprice your home because it will result in a limited buyer pool. You could also run into appraisal issues down the road. “An overpriced home will create a limited buyer pool.” Inventory plays a factor as well. What’s it like in your neighborhood? We’ve seen neighborhoods with no houses for sale, which is ideal for you. We’ve also seen neighborhoods with so many houses for sale that it makes sense to wait it out a bit. School districts are a huge factor for buyers with children. A lot of people go online to research schools and how they rank. Walkability is important, too. Is the house somewhere where you can walk to a Starbucks or Trader Joe’s? Some buyers really care about this, while others don’t care at all. These are typically some of the factors that determine how long a home is going to take to sell. If you have any specific questions or you’re thinking about buying or selling a home, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.   

Fall is just around the corner, and it’s time to take the plunge if you want to make a move in 2019. Fall is fast approaching, which means now is the time to get on top of your real estate goals if you still plan to buy or sell in 2019. If you’ve got plans to list, take photos of your home now before the grass is brown or snow hits the ground. And if you’re considering buying, get in touch with a lender so you can figure out what kind of home you qualify for. Whatever your goals, contact us as soon as possible. The fall market may be set to slow down, but it’s still important to be proactive. Our team would love to help you make the most of it. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon. 

Here are four ways to ensure a seller takes notice of your offer, even when multiple are on the table. In a seller’s market where the field is crowded with buyers, many on the sidelines are left to wonder if it’s even worth it to try and compete. When inventory is particularly low, it’s not unusual for sellers to receive a bunch of offers. It’s almost always a good idea to write an offer nonetheless.   Here are four tips to make your offer outshine the rest in such situations:  1. Submit a larger-than-normal earnest money deposit. Pending home sales don’t always pan out. Upon accepting an offer, many sellers worry that their buyer might back out of the transaction or default on the contract, leaving them with no fallback option because the formerly interested buyers have all moved on. By raising your earnest money above the baseline requirement, you’re letting the seller know that you’re serious about closing. Think about it this way: It’s money you’d pay the seller at some point anyway. Why not offer it a bit sooner?  2. Show the seller you’re qualified. Nearly every offer in a multiple-offer situation will be accompanied by a pre-qualification letter. To truly set yourself apart from the rest, go to your (preferably local) lender and ask for a pre-approval letter. Pre-approved buyers are the most favorable option in the eyes of a seller.   “In the end, a home’s worth simply depends on what a buyer is willing to pay and what a seller is willing to accept.” 3. Give the seller time to move. Buyer possession is often a sticking point. It’s difficult enough to juggle multiple closings between the sale and purchase of a new home all at once, and no one wants to show up to closing in a moving truck if it’s avoidable. After closing, go easy on your demands and allow the seller two to three days to move out of the home without expecting compensation or by renting it back to them at a minimal cost.  4. Write your best offer. Rather than crossing your fingers for negotiation, make your first offer your best offer. Ask your agent to do a comparative market analysis on the home, and based on the price they come back with, make your offer a little more enticing by going above list price. Some sellers list their home below market value to drum up multiple offers, so even though it seems like you’re offering high, your offer might be in line with the home’s actual value. In the end, a home’s worth simply depends on what a buyer is willing to pay and what a seller is willing to accept.    If you have any questions about purchasing a home in today’s market or about real estate in general, please give us a call at 800-214-1245 or visit our website at TheDaileyGroup.com. The Dailey Group is here to help you and those you care about move with confidence! 

Managing your wealth through real estate can be simple, and today we’ll explain how. When it comes to managing your wealth, one of the best avenues to take is by paying down your mortgage early. There are a number of ways you can do this. The first is by contacting your mortgage company to set up bi-weekly payments, which will allow you to pay down your mortgage seven years sooner than you would otherwise. Another method is by reaching out to a real estate professional, like us at the Lee Tessier Team, to discuss possible adjustments to your principal payments. Even though this would increase your payments up front, it would ultimately allow you to save thousands of dollars less over the term of your loan.  If you’d like to discuss other ways to build and manage your personal wealth through real estate, feel free to give us a call or send us an email. And, as always, if you have any other questions or would like more information, please reach out. We look forward to hearing from you soon. 

Before moving day arrives, don’t forget to do these five steps. Moving from one home to the next is a complex and often stressful process. In all the hustle and bustle, it’s easy to let certain things slip your mind. And a few things tend to be forgotten more often than others. Here are the top five most commonly forgotten steps people must follow before moving day arrives:  1. Find the nearest branch of your bank or transfer to a new bank. Before you move, you should locate a branch of your current bank that’s near your new home. If there isn’t one, then you’ll need to find a new bank altogether.  2. Find new medical providers. Assuming you’ve moved too far away to continue seeing your old medical providers, you’ll need to find a new doctor, dentist, optometrist, etc., before you make your big move. Don’t forget to have all of your medical records transferred over once you do.  “Especially if you’ve got a long drive ahead, making sure your car is in good working order before a move can save you a lot of time, stress, and money later on.” 3. Transfer memberships to gyms and clubs. If you belong to any gyms or clubs, don’t forget to cancel or transfer your membership before you move.  4. Raid your kitchen. Something many homeowners forget to do before moving is to thaw out, use, and throw away everything currently in their freezer and refrigerator. As for food in your pantry, why not donate any non-perishable items you don’t plan to use? You should probably start this process about a month before moving.  5. Have your car tuned up. Especially if you’ve got a long drive ahead, making sure your car is in good working order before a move can save you a lot of time, stress, and money later on.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

When selling your home, making any of these five mistakes in the process will prove costly. It’s no secret that preparing your home for the market is stressful, but you can minimize your stress and pave the way for a smooth selling process by avoiding these five common mistakes:   1. Overpricing your home. I can’t stress enough how important it is to price your home correctly from the start. Even a poorly marketed home that’s priced right will sell—it just might take a little time.   2. Failing to make simple repairs. You know what I’m referring to—a spot that your pet chewed on or that minor repair project you have yet to get around to. You can be sure that buyers will notice the little things immediately, so now’s the time to get them taken care of.   3. Neglecting to declutter your home. Most buyers start their home search online, and if your pictures show off your stuff rather than your space, chances are buyers won’t give your home a second glance. Round up your belongings, pack them into boxes, and place it all in storage before you start welcoming buyers into your home.   “The only thing that matters is that you’re able to sell the home for the price you’re aiming for.” 4. Not allowing adequate access to your home. I’ve found that for every 10 times a seller turns away a showing, eight of those buyers either won’t come back or their agent won’t call to reschedule. The success of your sale depends on your willingness to be flexible with showings. Your home needs to be show-ready when a buyer wants to see it—not when it’s convenient for you.  5. Getting super emotional about your home. Understandably, you’ve probably formed an attachment to your home. Now that it’s on the market, though, you need to think of it as a product you’re selling. If you get a lowball offer or the buyer wants to do some remodeling, don’t take it personally. The only thing that matters is that you’re able to sell the home for the price you’re aiming for.         If you have any questions about selling your home or there’s a topic you’d like to hear us cover in a future video, give us a call or drop us an email. The Dailey Group is here to help you and those you care about move with confidence!  

It’s that time of year again—our annual Tessier Team Foundation charity golf event is coming up on September 13 at Mountain Branch Golf Club. As you know, our foundation’s mission is to enrich and empower our local youth, and this tournament is a great way to give back to the community and have some fun doing so. Registration is at 10:30 a.m., and we’ll have a shotgun start at 12:00 p.m. Lunch and dinner will also be provided.  “Our annual Tessier Team Foundation charity golf event is coming up and we’d love to see you there.” If you’re interested in playing, Call Kim Georg at (410) 790-0714 to register and find out more information. You can also visit https://www.leetessier.com/golf-tournament. 100% of what we raise goes to the kids, so we hope we’ll see you there.  If you have any questions in the meantime, don’t hesitate to reach out to me. I’d be happy to help you.  

Though your friends and family may offer advice about selling your home, their well-intentioned tips may actually send you down the wrong path in your home selling journey. Even if it worked for them in the past, it doesn’t necessarily mean that same advice will work today. Here are five outdated tips of advice that no longer work in our real estate market: 1. You need to wait until spring to list your home. This season is when the most buyers are out, but you’ll also be competing with many other sellers. By listing in the spring, you’re positioning yourself to be in a direct competition with several other homes, so you’ll need to price and market yours flawlessly if you want to get a good deal. Because buyers have more to choose from, they have more power to negotiate. 2. You should price your home high. In the past, competition among buyers was so fierce that you were essentially guaranteed the ability to sell above market price. Nowadays, though, homes fetch the best prices when they’re priced competitively for their market. 3. Leave room to negotiate. Sellers used to price high in order to leave room for negotiation, but today’s buyers don’t want to deal with it. Now that inventory is higher, you’ll get more people interested when you price your home correctly from the outset. 4. You can sell your home as is. Sellers were often told not to invest much into remodeling or renovating—buyers wanted to customize the home themselves. That’s not the case anymore, as buyers today don’t want to worry about making any changes after they move in. However, they’re still willing to pay a premium for homes that look the part, so put in some elbow grease and make improvements to your home before you list. “Homes fetch the best prices when they’re priced competitively for their market.” 5. Any photos will do. Using a phone camera to snap a few quick pictures will no longer do the trick. Your online listing is basically a virtual home showing for potential buyers—you want to make a great first impression with professional photography and maybe even a 3D scan of your home. If you have any questions or would like more information, feel free to reach out to us. We’re here to help you, and we look forward to hearing from you soon.

I just wanted to take a moment today to introduce you to my right-hand woman, Erica Nickel. She’s our client relationship manager, and you’ll be hearing more from her more and more as we strive to keep in better touch with everybody on a more regular basis. For anything you need, you can reach out to either of us and we’d be happy to help. Keep an eye out for our upcoming client events in the meantime. To meet Erica for yourself, watch this short video.

In my experience, if you’re a homeowner looking to move into a new home, selling your old home before buying a new one is probably the better way to go, and there are many reasons why this is what the majority of homeowners choose to do. Here’s a rundown of those reasons so that you can decide with confidence whether this move is right for you: 1. You might not want to risk carrying two mortgages. In a perfect world, you’d buy your new house, sell your old one, and the timelines would match up nicely with no fuss or risk. For most of us, however, things rarely go that smoothly. If you don’t have the savings to carry two mortgages for at least a few months, you’ll want to sell before you buy. It could also be that you’re in the position where you can’t qualify for two mortgages.To buy a home before you sell, you’ll either need to have the cash on hand or qualify for a second mortgage. Understand that lenders won’t consider your plans to sell your current home when reviewing your second mortgage application. Your debt-to-income ratio will need to fit the criteria of the loan requirements at the time of purchase; your lender assumes you will keep both homes, so your debt-to-income ratio needs to be able to support both mortgages. This means that your monthly debt payments should total less than about 36% of your monthly gross income. If you don’t think you meet those criteria, you might have an easier time selling your home before buying the new one.  2. You might just be in a competitive market. In some markets, people are practically climbing over one another or get their hands on desirable properties. Although this means that your house may sell faster, if you’re living in the same market that you’re buying in, you also need to be able to put in a competitive offer.If you haven’t already sold your home and you can’t afford two mortgages, you might need to put in an offer that’s contingent on selling your current home. This means that the seller has to wait for you to sell your current place before closing the sale, and understandably, that’s not the most appealing option for a seller. If the offers are contingent, they might not even be considered in the running for a house if there are multiple offers on it.Selling your home before buying a new one allows you to bid on a house without it being contingent on a sale. That’s super critical in a competitive market. “To buy a home before you sell, you’ll either need to have the cash on hand or qualify for a second mortgage.” 3. You might be in a sluggish market. If your present home is in an area that isn’t exactly selling like hotcakes, you might want to sell first, for two reasons: 1) It could simply take a long time, leaving you with two mortgages. 2) You might not get the sales price you want, which will affect your new home purchase.  4. You might not be ready to commit. Sometimes, it just doesn’t make sense to buy; you may want to get the feel of a neighborhood before living there permanently. Buying a home is a really big commitment, but if you want to take advantage of the schools or amenities of a new place, renting temporarily might just make sense.  5. Consider doing a leaseback contingency. If you’re selling your home before buying, but you want to avoid renting while between homes, consider adding in a leaseback contingency. We do this all the time, and it works best in a seller’s market where buyers are willing to wait to get into the new home. With a leaseback contingency, you sell the home to your buyers, but lease it back from them for a set term—this could be 30, 60, or sometimes even 90 days. This improves your chances of finding a new home before you have to move out.Another strategy is to enlist the help of an experienced agent. Follow your agent’s recommendations for getting your house ready to sell, and familiarize yourself with the market where you want to buy. As soon as you have a contract on your home, look for the new one. If all goes well, your agent can help you line up your closing dates so that you only have to move once. We’re happy to help you navigate these intricacies of the changing market and to recommend an agent in another part of the country who will have your best interests at heart. If you have any questions or would like a recommendation for an agent, feel free to reach out to us. The Dailey Group is here to help you move with confidence.

Markets are like the weather—you can’t entirely predict how they’ll act, but you can get a sense of the forces that may push things in one direction or another. We’ve analyzed a wealth of housing data to come up with a forecast of what 2019 might have in store for homebuyers and sellers. Here are our top takeaways: First, we’ll have more homes for sale, especially luxury homes. We’ve been chronicling the super-tight inventory of for-sale homes for several years now. Yes, homes have been hitting the market, but not enough to keep up with the demand. Nationwide, inventory actually hit its lowest recorded level last winter, but this year, it finally started to recover. We’re expecting to see that inventory growth continue into next year—not at a blockbuster rate, I’m afraid, but at around a 7% growth rate. “Markets are like the weather—you can’t entirely predict how they’ll act, but you can get a sense of the forces that may push things in one direction or another.” While this is welcome news for buyers who’ve been sidelined, sellers must confront a new reality. Although 2019’s inventory is expected to be modest nationwide, pricier markets will tell a different story. In these markets, which typically have strong economies and high-paying jobs, most of the expected inventory growth will come from luxury listings. So, buyers or sellers: Who has it better? It’s no secret that home sellers have been sitting pretty for the past several years, but is the tide about the change in the buyers’ favor? Well, in some ways, life is going to be easier for homebuyers; they’ll have more options, but we also expect mortgage rates and home prices to continue to increase. Another trend to pay attention to is the behavior of millennials in the market: Millennials are expected to dominate home buying in 2019. They were only recently the new kids on the block, but no longer—millennials are the biggest generational group of homebuyers, accounting for 45% of mortgages, compared to 17% for baby boomers and 37% for Gen-Xers. Millennials, who range from their mid-20s to their late-30s, are even moving up from their starter homes. The slightly older move-up buyers will reap the benefits of both their home equity and the increased choices in the market. Finally, we come to the new tax law. It’s still a wild card. At the time of last year’s forecast, the proposed revision of the tax code was still being batted around by Congress. While there was talk that it might discourage people from buying a home, no one really knew how it might affect the real estate market, and we still don’t know for sure. That’s because most taxpayers won’t be filing taxes under the new law until April, and while some people might have a savvy tax advisor giving them a better idea of what’s in store, the reality check will come in the form of a bigger tax bill or bigger refund. Renters are likely to have a lower tax bill, but they may not be tempted to buy, since the increased standard deduction reduces the appeal of a homeowner’s mortgage interest deduction. If you or someone you know could use some advice about the real estate market, The Dailey Group is here to help you and those you care about move with confidence.

First of all, shoot for perfection! 850 is the best score you can possibly get, and while it may seem completely out of reach for some, there are people who actually crest that credit mountain and reach the top. It’s the holy grail of credit scores, 850. On the widely used FICO credit scale approximately 1 out of every 200 people achieves perfection. Careful budgeting and attention to every aspect of your financial picture will help you get to and maintain that score. If that seems a little too crazy, shoot for 720. If 850 is out of reach in a reasonable timeframe– reasonable being the maximum amount of time you want to wait before buying a home– aim for 720. This is often the magic number to get lenders fighting for your business, and in nearly all instances you’ll be offered the best interest rates. Also, set up automatic payments. According to creditcards.com 35% of your credit score is taken from your credit payment history. You may have missed payments in the past, but you certainly don’t want to make that mistake while you’re trying to get homebuyer ready. Almost every creditor– your utilities, car payment, even your student loans will offer the option of automatic payments. This is the easiest way to ensure you never miss another payment going forward. Just remember to make sure there’s enough money  in your account to cover what is coming out. If you’ve been busy moving funds into savings for your down payment you’ll want to set a reminder to move funds back to whatever account your automatic payments are attached to. “Those who see an 850 reflected in their report are strategic in every aspect of their budgeting and financial picture.” Don’t be afraid to refinance. You might end up buying a home before you get your credit score exactly where you want it to be. Especially if you buy your home with an FHA loan, their streamlined refinance program can potentially lower your payment without an appraisal, credit check or income verification. And you’ll want to watch your credit limits. Banks don’t look kindly on those who have used all of their available credit as it gives the appearance that you’re not living within your means. The amount of available credit is the second most important factor in your score. Experts recommend you keep each card balance below 30% and your balance should be under $1,500. Of course, if you can keep it between 10-20% you’ll be in great shape, but don’t go below that. While it may seem that a zero balance would indicate that you’re financially savvy, banks like to see responsible credit management, which means using your credit cards and paying down the balance to a reasonable balance every month. Your credit matters when you want to buy or sell your home. Please reach out to us if you have any questions regarding your credit score or with any of your other real estate concerns. We’re here to help you move with confidence!

There are three reasons why now is a smart time to buy a home. First, you face less competition from other buyers. Most buyers take the month off to celebrate the holidays, attend parties, host out-of-town guests, and, quite frankly, avoid trudging around during the cold to look at houses. It’s also possible that they’ve heard now is a lousy time to buy a house. In any case, shopping for homes when there aren’t a lot of other active buyers can pay off big time, because competing against multiple offers is one of the most stressful parts of the home buying process. Second, sellers are serious and motivated during this time of year. This means they’ll be more open to negotiating. What you might lack in available homes will balance out by dealing with more flexible sellers. “Most sellers have a compelling reason to be putting their home on the market during the holidays.” Most sellers have a compelling reason to be putting their home on the market during the holidays. Let’s face it—it’s no party for them having strangers wandering through their house. They might need to relocate or resettle their kids before the new term. If they’ve had their home on the market since fall, they might be feeling stressed about that too. These kinds of factors make them a little more anxious to make a deal. Third, you get a more realistic picture of the house you want. What house doesn’t look great during the spring selling season? Checking out a home during the winter season might give you a more accurate idea of what you’ll be living in the rest of the year. In addition to seeing the house in a realistic condition, you can check for issues you only notice during cold weather. However, keep in mind that issues that arise during the summer will be less noticeable during the winter, so make sure your home inspector does a thorough job. If you want to get started on your home buying journey, give us a call. We’d love to help you. If you have any other questions about our market or you have any other real estate needs, feel free to reach out to us as well. We look forward to speaking to you, and we hope you have a happy holidays.

I’d like to officially invite all of our friends and clients to join us Tuesday, November 20th at Liberatore’s in Bel Air from 4 p.m. to 7 p.m. for our Thanksgiving party! We’ll also have food and an open bar, just like last year. “I look forward to seeing you Tuesday the 20th!” To RSVP for your pie, email Rose@LeeTessier.com and let us know if you’d like apple or pumpkin pie.We can’t tell you enough how much we appreciate your business and the referrals you send us. I look forward to seeing you Tuesday the 20th!

With Hurricane Florence causing destruction along the Carolina Coast, I want to take a moment to bring you a couple of important messages. First: Stay safe out there. I wish you and your loved ones well in this difficult time. Next, I wanted to also let you know that, because of the storm, we will be rescheduling our golf tournament. We will be postponing the event (originally scheduled for September 14) until Friday, October 12. Other than that, all of the details of the event will be the same. We’ll be hosting a lunch before the tournament starts, as well as a prime rib dinner with all the fixings after the day is done, so make sure to come hungry. With that in mind, we do ask that everyone arrives between 11:00 a.m. and 11:30 a.m. “We sincerely hope you’ll join us for food, fun, and the chance to win great prizes, including jewelry, tech gadgets, and more.” This event is going to be a great time, so we sincerely hope you’ll join us for food, fun, and the chance to win great prizes, including jewelry, tech gadgets, and more. Best of all, 100% of the proceeds from this event will go toward providing enrichment opportunities and college scholarships for kids between sixth through 12th grade. We look forward to seeing you on the course, but until then, feel free to give us a call or send us an email if you have any questions or would like more information. See you at the tournament! If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to seeing you soon.

In terms of real estate, most young people’s first purchases are primary residences. But what about investing in real estate at a young age? What is it like to own rental properties in your 20s or 30s? I can speak from experience because that’s what I did. Building a large portfolio of rentals is no easy task, but there are ways to get started on a small scale. What are some entry-level strategies? 1. House Hacking. One of the easiest ways to dip your toe into real estate investing is by “house hacking.” The basic concept is that you purchase a property and rent out parts of it to collect income and help offset your housing expenses. This strategy kills two birds with one stone by providing you with a primary residence and an opportunity to make money. Examples of house hacking include purchasing a two-bedroom condo and renting out one of the rooms or buying a multi-family and living in one unit and leasing the others. If you’re looking to build your real estate portfolio, house hacking is a great way to gain experience with landlording and property management. “REIT stockholders earn a share of the income produced through the investment.” 2. Short-Term Rentals. Purchasing a property in an area that attracts tourists or receives an influx of seasonal visitors can be quite profitable. If you buy in a vacation town like Ocean City, you can get a premium rental rate during peak season. As long as you’re willing to stay on top of the high rental turnover, you can make a pretty penny. 3. Investing in REITs. If being a landlord doesn’t seem like a good fit, another more passive approach to get some skin in the game is to purchase REITs. A REIT (Real Estate Investment Trust) is a company that owns, operates, or finances income-producing properties such as apartment complexes, offices, shopping centers, hotels, etc. Modeled after mutual funds, REITs allow individuals to tap real estate the same way they would other industries — by investing in stock. As a REIT stockholder, you earn a share of the income produced through the real estate investment without actually having to go out and buy and manage property. With any of these strategies, you need to ask yourself: Are you comfortable taking on risk? Are you comfortable tying up cash in a house? Will you be willing to ride out the low points? Are you willing to make some sacrifices? Do you have financial reserves? If you have any questions for us or want to talk it through to get you the best resources to get the best advice, don’t hesitate to give us a call or send us an email today.

It’s time once again for our annual golf tournament, and, as always, you’re invited! This year, the tournament will take place at noon on Friday, September 14 at Mountain Branch Golf Course. We’ll be hosting a lunch before the tournament starts, as well as a prime rib dinner with all the fixings after the day is done, so make sure to come hungry. This event is going to be a great time, so we sincerely hope you’ll join us for food, fun, and the chance to win great prizes, including jewelry, tech gadgets, and more. “We sincerely hope you’ll join us for food, fun, and the chance to win great prizes, including jewelry, tech gadgets, and more.” And when you buy your tickets before August 30, the cost for a foursome ticket will be reduced to $600—a savings of $60 from our usual price. Space is limited, so make sure to reserve your place as soon as possible. Best of all, 100% of the proceeds from this event will go toward providing enrichment opportunities and college scholarships for kids between sixth through 12th grade. We look forward to seeing you on the course, but until then, feel free to give us a call or send us an email if you have any questions or would like more information. See you at the tournament!

With Maryland schools starting right after Labor Day this year, the first weekend in September is the perfect opportunity to make even more summer memories. I’ve compiled a list of some of our favorite local ideas to get you inspired for the season. 1. Maryland State Fair (August 23-September 3). No other event provides so much food, fun, and family entertainment for so little. There are both tame and thrilling rides, classic and local foods, livestock, garden and home exhibits, thoroughbred racing, and even live national concerts featuring star entertainers like Smash Mouth, Chris Lane, and Jefferson Starship. Hit up this event through September 3 at the State Fairgrounds in Timonium. 2. Maryland Week in Ocean City (August 26-September 9). I love a good bargain, and Maryland Week in Ocean City means discounts. Some hotels are offering 15% to 20% discounts depending on the length of your stay. Others are paring discounted room rates with gift certificates to restaurants or other amenities in the area. Use this as an opportunity to enjoy the last vestiges of summer and pack in a little more fun in the OC sun. 3. National Hard Crab Derby and Fair (August 27-September 2). This is a unique crab-themed festival at Summer’s Cove in Crisfield that features crab races, crab cooking and picking contests, carnival rides, arts and crafts, live entertainment, beauty pageants, a parade, and fireworks shows. Remember to bring your mallets! “The first weekend in September is the perfect opportunity to make even more summer memories in Maryland.” 4. Rhythms & Reels (August 31-September 1). Join Baltimore City Recreation and Parks Department for the third season of Rhythms & Reels, a free series of music and movies in our local recreation areas. On Friday, August 31, you can bring the whole family to see “Wreck-It Ralph” at the rec center in Cartonsville. On Saturday, September 1, you can watch “Despicable Me 3” at Lakeland Park in South Baltimore. Come hungry, because there’s free popcorn. 5. Sunset Paddle on the Middle Branch (Friday, August 31 from 7-9 p.m.). If you prefer nature to the movies, this event is for you. You can explore our waterways on a guided tour with the Recreation and Parks Department. You’re likely to see fish, crabs, and maybe even a great blue heron. There will be 10 canoes and 10 kayaks, so RSVP early to reserve your spot in a boat. There will be small fee for both residents and non-residents, but everything you need is provided for paddling. 6. Waterfront Wellness Series (Saturday and Sunday mornings from 7-9 a.m.). Go get healthy at the harbor with free local fitness classes, featuring yoga, boot camp, dance, and even just plain running. To find out more ideas or details about fun Labor Day activities, check out our Facebook page. You’ll also find a ton of great real estate information there. For any other questions, feel free to reach out to me.

When it comes to buying a home, whether it is your first or your fifth, it’s important to know all of the facts. Many mortgage programs allow buyers to purchase a home with down payments well under 20%, which will require private mortgage insurance (PMI). Freddie Mac defines PMI as an insurance policy that protects the lender if you’re unable to pay your mortgage. It comes in the form of a monthly fee that is rolled into your mortgage payment, and is required for all conforming conventional loans with down payments under 20%. That said, you can cancel your PMI once you’ve built up to 20% equity in your home. In other words, PMI is not a permanent expense. The cost of it will vary depending on your loan-to-value ratio and your credit score, but, on average, homebuyers can expect to pay between $30 and $70 per month for every $100,000 borrowed. “The added cost of PMI enables many to purchase property now and begin building equity rather than waiting years to save enough for a 20% down payment.” According to the National Association of Realtors, the average down payment for all buyers last year was 10%. But the figure varies when examining first-time homebuyers, who had an average down payment of 5%, and repeat buyers, who had an average down payment of 14%. This higher down payment observed across repeat buyers was no doubt aided by the sale of their previous home. This just goes to show that PMI does not generally act as a deterrent for those looking to purchase a home. Yet, putting 20% down can save you a lot of time and money. Imagine that you’re purchasing a $200,000 home with a 5% down payment. In this case, your monthly mortgage payment with PMI would likely be around $1,022. However, purchasing this same home with a 20% down payment  would leave your monthly mortgage payment at just $773. This is a huge savings. The larger the down payment that you can make, the lower your monthly payment will be. Nevertheless, the added cost of PMI enables many to purchase property now and begin building equity rather than waiting years to save enough for a 20% down payment. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Everyone wants to renovate, and, now more than ever, they want to do it themselves. Big-ticket remodeling activity is growing at its fastest pace in four years. All this remodeling is good for the economy and, presumably, for individuals’ home equity. Yet problems can arise when homeowners take on tasks themselves without proper preparation or training. Keeping renovations on track is simple if you know what to look out for. 1. Think it through. Are you overestimating your skills? Assuming projects are as easy as they appear on TV is a recipe for disaster. Chances are, you’ll either end up calling a professional to finish what you started or, worse, have to start all over. You can avoid such mistakes by taking on smaller tasks first. Test your skills and patience before trying out a larger renovation. “Adequate preparation can save yourself a lot of headaches during any renovation project.” 2. Think about your budget. Underestimating your budget can be another critical mistake. The last thing you want is to encounter a problem that will require you to make alternate plans or spend more than you’ve set aside. Experts recommend adding 20% on top of your anticipated budget. And it may be a good idea to add even more of a cushion if you aren’t very experienced with such projects. 3. Think about your timeline. Homeowners taking on their own renovations can wildly underestimate the amount of time a project will take. Just because you have two weeks to completely renovate your kitchen before your in-laws are in town doesn’t mean the project will happen within that time frame. So make sure you do your research and listen to professional opinions. Adequate preparation can save yourself a lot of headaches during any renovation project. If you have any other questions, would like more information, or need us to recommend one of our trusted contractors to assist with your next project, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Today we are going to be talking about the worst mistake you can make before selling your home. If you have ever gotten ready to sell a home, you know that in order to fetch top dollar, you need to get your home in good shape. Instead of hiring contractors, painters, and other professionals, you might be thinking you can save some cash by doing them yourself. That is fine and good if you know what you are doing. Unless your DIY skills are advanced, experts agree that this is one of the biggest mistakes a home seller can make. If you mess up, you could make things worse and end up shelling out even more money out down the road. To help you separate these tasks you can tackle on your own from the ones best left to professionals, here are some DIY projects to avoid when selling your home: 1. Drywall repair. If your rooms only need a fresh coat of paint, I say go for it. However, if you have cracks in your drywall from a shifting foundation or a depression in the wall from years of doorknob slams, it is worth it to hire a pro. You do not want your fix to look worse than the original problem, so contract out the drywall repair and finish the paint job on your own after. 2. HVAC repairs. Heating and cooling systems are complex and often connected to both electrical and gas systems. Making a mistake could mean blowing out the entire system, setting you up for a much more expensive repair in the end. Even something as relatively simple as installing a smart thermostat can fry your wiring if done incorrectly When it comes to your heating and A/C systems, approach with caution. “When it comes to your heating and A/C systems, proceed with caution.” 3. Tree removal. Even if it is a smaller tree, digging up the roots can be difficult. Meanwhile, if you do not have the proper tools to remove the upper part of the tree, if can also be potentially dangerous. You do not want to be the person who puts a tree through your own roof, so hire a tree removal professional. 4. Advanced electrical. While replacing a light fixture or ceiling fan could be fine to do on your own, experts draw the line at any electrical work involving the breaker box. Not only could you hurt yourself, but you also could create a fire hazard, especially if your home is not brand-new. 5. Plumbing. Some plumbing tasks, such as snaking a slow drain or fixing a running toilet, are easy enough to do on your own. However, pipes are complex and tricky to reassemble, particularly when they are in close proximity to other plumbing components and machinery, such as dishwashers or garbage disposals. Leave those to the professionals. Are you thinking about selling your home and wondering if a DIY project will help you sell it for more money? Give us a call or send us an email today. We would love to hear from you today and help you move forward on your journey with confidence.

If you are getting ready to sell your home, there are a few critical mistakes you must be careful to avoid during your preparations. First of all, make sure any renovation projects you take on will pay off in the end. If the cost outweighs the benefit, it likely is not worth it. It is also important to make sure the projects will not end up actually harming your home. Home renovations can backfire if not done properly. For example, I recently encountered a homeowner who tried to install a concrete patio outside of their property without any help from a professional and, as a result, the patio was slanted. This led to water runoff draining toward the home and rotting out the band board, as well as some of the plywood behind the siding. “Simple upgrades like a fresh coat of paint are often the best way to add value.” The lesson to be learned from this is that you should always make sure you are capable of handling a project before trying to tackle it alone. Otherwise, it never hurts to have a professional take care of things for you. My team and I are well-connected with local professionals, and would love to provide you with a list of our preferred contractors. So feel free to reach out. To get the highest return on your investment when preparing to sell, it is best to avoid huge projects like kitchen remodels, unless the room is extremely dated. Otherwise, simple upgrades like a fresh coat of paint are often the best way to add value. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Today I want to speak with you about for sale by owner (FSBO) homes. Currently, we have multiple buyers who are looking at homes from people who want to sell their property on their own. You should know that if you are working with another agent that brings you a buyer, they are only representing the buyer, not you as a seller. So, you have no coverage and the majority of the time you are still going to end up paying for that agent. Oftentimes, it does not make sense to not have anyone negotiating for you. If you have any questions, get some advice. You need to know what your home is worth, what paperwork you need, and what you need to worry about. “You have to be careful, as there are many pitfalls in the market.” For example, many sellers forget to include a disclosure disclaimer. While others who are moving out of state need to know about the withholding tax. You have to be careful, as there are many pitfalls in the market. Going the FSBO route can save you money in certain instances. However, it could also cost you more in the long run. We have seen inspection issues, appraisal issues, and withholding tax issues. Withholding tax issues have been caused by clients who were unaware of them. Then, once they were no longer Maryland residents, they had to deal with last-minute withholding tax. If those sellers worked with real estate professional from the start, they could have known what to do differently. Just like you need a great doctor or attorney, you need to seek great counsel for legal and real estate advice. If you have anything that I can help you with, please feel free to contact me. I would be happy to assist in any way that I can.

Most home sellers are thrilled to the get the price they ask for when they put their home up for sale, but they don’t think about the possibility of getting even more for it. In this wild market, that’s definitely possible. “By following these tips, you might be able to get more than what you asked for.” If you’re wondering what tricks of the trade you can use when it comes to getting a higher offer for your home, you should consider trying the following tips: 1. Price it a little lower. Generally, you should price your home at market value so it won’t linger on the market. By pricing it slightly lower, though, you may be able to get a lot more potential buyers through the door. This can also stimulate a bidding war among buyers who see value in your home and are willing to pay more for it. This tip has worked twice for our team in the last week, alone. 2. Hold off for the right offer. The benefit of using an agent, or a team like ours, is we know the market and we’ll be able to determine what amount the offer on your home should be. Make sure you consult with your Realtor before saying yes to an offer. It’s easy to be tempted by the first good one that’s close to your asking price, but it’s sometimes worth it to hold out for the amount you really want. 3. Sell in the springtime. It’s possible to get a good price for your home any time of the year, but spring is the time homebuyers really like to hit the market. This means you might have a lot more interested parties to choose from. Instead of waiting for buyers to come to you, put your home on the market when there are already a lot of buyers out there ready to invest. 4. Make it unique. Whether you’ve recently made some renovations to your home or it already has some interesting features, make sure to promote these things in your marketing materials and at your open house. These can not only add value to your property, but they can also help potential buyers remember it so they’ll be willing to negotiate. Most sellers put their home on the market with the hope of getting a certain amount for it, but by following these tips, you might be able to get more than what you asked for. If you have any questions or you’re thinking of selling and you want to get more than asking price for your home, don’t hesitate to reach out to us. My team and I would love to help you.

Though it hasn’t been in the news as much lately, I’m sure you’ve heard by now that interest rates are on the rise. A couple years ago, experts were predicting that we’d reach about 5%—and we are getting darn close to it, depending on what bank or mortgage company you’re going through. Some conventional rates are very close to 5%. Some jumbo loans I’ve seen recently were even a little above 5%. Meanwhile, FHA and VA loans are hovering around 4.5%. “Be sure that you’re speaking with your lender so that you know exactly what your payments are going to be so you’re prepared for any differences by increased interest rates.” Whatever the loan you have, the increase in rates will probably affect you in some way or another. If you were pre-approved three or four months ago, check with your lenders again and ask for a good faith estimate, just that you’re aware of how much it will affect your monthly payments. By summertime, it’s projected that rates will be closer to the fives, if not a little above. Even in light of this, the market is fairly busy, overall. The luxury market (or the price ranges around or above $1 million) is a bit slower; I recently saw a high-end $12 million property suppressed down to around $9 million. But the rest of the market is very active, and many homes are seeing multiple offers in light of the inventory shortage. Ultimately, just be sure that you’re speaking with your lenders so that you know exactly what your payments are going to be so you’re prepared for any differences that are caused by increased interest rates. If you have any questions about this, please feel free to reach out to me. I’d be able to answer your questions or set you up with a good lender.

The real estate market is hot! Right now looks to be an especially important time for anyone looking to sell a home. Here are a few facts to get you thinking: Demand continues to outstrip supply. The number of homes on the market is near an all-time low, and listings of existing homes have plunged 8.1% just over the past year. Home prices are still surging. Home prices are up 6.3% year over year in the last quarter for which we have data. It’s not just Baltimore that’s doing well—areas around the country keep posting record highs for home values. Mortgage rates are finally rising. The Fed increased its benchmark rate several times over the past year, but that didn’t translate to an immediate increase in mortgage rates. However, mortgage rates do seem to be finally responding, and the 30-year fixed rate is now hovering around 4.5.%. “It’s not clear how long this favorable situation will last.” What do these facts mean if you are considering selling your home?First off, they mean that right now is a very good time to sell. That’s because of the strong demand and the high level of current prices. In other words, if you were to put your home on the market right now, you could get top dollar, and you would be able to sell quickly and without hassle.Second, it’s not clear how long this favorable situation will last. As I mentioned, mortgage rates are on the rise. Currently, it’s not enough to dampen demand. But if rates continue to rise, it might drive more buyers out of the market, eventually driving down prices and making it more difficult to sell your home.To sum up, if you have been considering selling your home, consider selling now. The current market is very favorable, but it won’t last forever. If you have any questions for me about how to get started buying or selling a home or you’re curious about what exactly your home is worth right now, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

It’s time for an update on our current real estate market.  Things are getting a little intense out there. We’ve seen issues arise for a few of our buyers including unexpected damages. Unforeseen expenses can ruin deals, so if you’re entering our market any time in the near future, be cautious.   Also, it’s important to realize that some properties in our market are selling quickly and some aren’t. If you’ve been trying to sell for the past couple of years but haven’t been successful yet, give my team a call. We would be happy to help.  “If you’re entering our market any time in the near future, be cautious.” Something else to be aware of is that in most areas of our market, we’re seeing a shortage of inventory. This is good news for sellers. Even though the market has improved, it’s still a bad idea to overprice your home. If you have any other questions, would like more information, or want to know how we can help you achieve your real estate goals, feel free to give us a call or send us an email. We look forward to hearing from you soon. 

There’s a big difference between decorating your home for pleasure and preparing it to sell. If you’re pining for a purple bathroom—like mine is—I say go for it, but there are five decorating trends you need to avoid if you’re preparing your home for the market: 1. Wallpaper. Bold wallpaper has been a big trend, especially in tiny bathroom spaces. I’ve seen trippy tropicals, astounding animal prints, crazy cacti, giant geometrics, and just about every other kind of pattern in bright colors and metallics. Whether or not this trend has peaked, it’s a big “no” for anyone selling their home. 2. Intricate tile.Bold-pattern cement tiles are popping up everywhere, which is exactly why you should avoid them. The pattern may be trendy now, but it could become outdated soon and turn buyers off. You want buyers to see potential in your space—not be distracted by potentially divisive tile choices. Minimize patterns, even in non-permanent items like duvets and furniture. 3. Too much purple or yellow. Purple is the Pantone color of 2018 and Gen Z yellow is trendy, but use these color with caution. Purple walls will only appeal to a small population of buyers. Color is key for resale value, so your home’s colors should be a neutral paint in an eggshell finish. “These trends might be favored by homeowners, but they might turn buyers off.” 4. Too much “cold” white. If your home is ultra-modern, make sure it doesn’t come off as “cold” or uninviting. A sleek, monochromatic palette may be fashionable, but it lacks the warmth buyers are looking for. This doesn’t mean you have to repaint. If you’re already in on the all-white trend, just add some warm tones with accessories like pillows or throws. 5. A statement door that makes too much of a statement. A colorful front door upgrades your home’s curb appeal and gives it a welcoming first impression, but make sure you pick the right color. For years, doors have been trending toward fun colors like teal, yellow, and bright blues, oranges, and greens. What are buyers’ favorites, though? They’re black and red. I know it’s hard to shell out for renovations that aren’t your taste, but your restraint will pay off once you sell. If you have any more questions about decor trends to avoid or you’re thinking of buying a home in our spring market, don’t hesitate to reach out to our team. We’d be glad to help you move with confidence.

Now that we’re an independent brokerage with a new name, we’re looking to add some more great agents to our team. Interested? As of this day forth, we are the Lee Tessier Team of Tessier Real Estate. Now that we’re officially an independent brokerage, we’re also looking for additional agents to join our team. Specifically, we’re looking for individuals who have a desire to win and know how to take care of our clients’ needs and our team’s needs. We can provide training, accountability, and mentorship. “We’d love to sit down with you and go through everything we can offer you.” If you’d be interested in this position, you have high integrity, you’re a fast learner, and like to take care of clients, please reach out to us. We’d love to sit down with you and go through everything we can offer you. We’re excited to move forward as the Lee Tessier Team of Tessier Real Estate, and we look forward to hearing from you.

If you’re a homeowner, you already know that keeping your property in tiptop shape requires dedication and patience for ongoing maintenance. But what if you’ve put your home on the market, or even accepted an offer?  To prevent minor issues from escalating into full-blown, money-sucking, sale-killing problems, focus on these five important areas you can’t afford to neglect. 1. Keep up the yard and walkways Whether you’re still living at the home or not, you’ll want to make sure to keep your landscaping tidy—remove dead tree limbs, rake leaves, and clean out flower beds. Consider having lights on timers so the house doesn’t look dark all the time, and arrange for driveways and walkways to be plowed weekly in the winter months. And don’t let mail pile up in the mailbox. 2. Clean the gutters and check the roof This one’s easy to forget about, even when you don’t plan on going anywhere. But when it comes to gutter and roof issues, neglect can cause a dangerous domino effect.  Overflowing gutters can damage your foundation, and also lead to drainage issues. Buyers, seeing the house when it’s raining, will also see your gutters overflowing. That’s a terrible first impression. “Staying on top of these regular tasks will make it easier to sell your home with fewer headaches.” 3. Service your heating systems The hidden guts of your home need regular attention, whether you’re still living there or not. That means having your HVAC systems professionally serviced. First up, your furnace: If you get it addressed before you list your home, it won’t smell like dust when you crank up the heat during an open house on a chilly day. While you’re at it, have the duct work and filters cleaned as well. And if you have baseboard heaters, vacuum those out, too. 4. Keep the critters out If you don’t want to add “family of raccoons included” to your listing (and pay the hefty tab for getting them out), inspect the inside and outside of your home for any areas that need to plugged up. Take care of holes from damaged siding or fascia under the roofline—and do it promptly. 5.   Wash your windows Most people associate sparkling windows with spring-cleaning, Roberts says. But if your house is on the market, it doesn’t matter what time of year it is—you need to get those babies squeaky clean. If  buyers walk through your home and all they see is dirty windows, that’ll really mar the showing process. Make sure to wipe them down after a bad storm, when they’re especially likely to show muck and grime buildup. Staying on top of these regular tasks will make it easier to sell your home with fewer headaches. Plus, it’ll preserve the value of your property, and potentially, the thickness of your wallet, too.

You can always update or renovate your property to increase the value of your home. However, there are four surprising things that may increase how much your home is actually worth. 1. How close you are to a Starbucks. How far do you have to drive to get a frappuccino? If the answer is not that far, you’re in luck. A recent study has shown that if you live within a quarter mile of a Starbucks, your home has increased in value by 96% on average, compared to 65% for all U.S. homes. 2. Blue kitchens and blue bathrooms. Beyond America’s obsession with lawns and curb appeal, what’s inside your house counts, too—especially the colors you choose for the walls. A 2017 paint color analysis looked at more than 32,000 photos from sold homes around the country and found that homes with blue kitchens and blue bathrooms sold for a premium.  Bathrooms with pale blue or periwinkle blue walls sold for a whopping $5,000 more than other homes. If your walls are painted in cool, neutral shades like blue or gray, that signals to a buyer that the home is well cared for. “The average urban home is worth 35% more than the average suburban home.” 3. Trendy features. Joanna Gaines’ aesthetic is permeating more than your YouTube search history; listings mentioning some of the Shiplap Queen’s favorite features sell faster and for more money than other listings. For example, listings with “barn door” in the description sold for 13.4% more and 57 days faster than comparable homes without that feature. Homes with “farmhouse sink” mentioned in the listing sold for 8% more. While a barn door might not increase the value of your home off the market, it seems to help when it comes time to sell thanks to the popularity of the style. 4. How close you are to a city. If you own a home in a major metropolitan area, then you are sitting on a significant financial asset. Homes in the New York metro area are worth $2.6 trillion, which is more than the value of the entire French economy. The average urban home is worth 35% more than suburban homes. Since 2012, the median home value in urban areas increased by 54%, while the median home value in suburban areas increased by 38%. That is still a great percentage, but urban areas are appreciating faster. If you are curious about what your home’s value is in the current market, or if you have any other questions about how to increase your home’s value, just give us a call or send me an email. We would be happy to help you!

There’s a lot of uncertainty about The Tax Cuts and Jobs Act and its effect on real estate. Let’s first take a look at the four key tax changes impacting the housing market at this moment: 1. Deductions for property taxes. Prior to the new tax bill, if you itemized your deductions, you could deduct all of your property tax. Going forward, this amount will be capped at $10,000. 2. Deductions for mortgage interest. The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/2017. Other loans of up to $1 million are grandfathered in. 3. Home sales exclusion for capital gains. If you sell your home and turn a profit, then up to $500,000 of that profit is exempt from capital gains tax. Although earlier versions of the bill required you to live in the home for five out of the last eight years, the final bill made no changes to the capital gains exclusion. In order to qualify for this exclusion, you must have lived in your home for two of the past five years to claim this exemption—just like before. 4. Deductions for moving expenses. The final bill repealed the moving expense deduction, except for those who are members of the Armed Forces. “These reforms may drive home prices down in the midterm.” The first two changes increase taxes on current homeowners and make homeownership less attractive. This is a part of why the National Association of Realtors claims that home prices could drop by more than 10% due to the new tax plan. On the other hand, the last change makes it more expensive to sell your home. As a consequence, they could keep some homes off the market. We’ll have to see how the different changes play out in reality, and how they interact with other real estate conditions. However, there does seem to be a consensus among experts that current reforms might drive home prices down somewhat in the midterm. On the bright side, home sellers do still get to take advantage of the home sales exclusion for capital gains. That is a major victory for real estate. That’s why if you’ve been thinking of selling your home, now might be a good moment to start the process. If you have any questions, whether you are buying or selling, you can always call us or shoot us an email. We can give you more specific recommendations based on your unique situation. We look forward to hearing from you soon.

What should you expect to see on the market as we transition into spring? I have information and advice that you might find useful. Today, I’d like to talk about what we can expect in terms of the market now that we’re leaving winter behind and transitioning into spring. Spring is when the real estate market really starts to get busy. Sellers are occupied with preparing their homes for the market by painting, cleaning things out, emptying closets, making whatever repairs they need to, and freshening up the curb appeal. Buyers, on the other hand, are waiting for homes to start popping up on the MLS. However, there is a general shortage of inventory; pockets here and there have either almost none at all or plenty to offer. If you’re unsure where your location is in terms of inventory, give us a call and we can help you figure out what’s happening in your segment of the market. “Things are starting to heat up this time of year.” For the last five and a half years, we’ve been doing “coming soon” listings. These allow you to prepare your home to list but also get some marketing done before you actually go live. We can give you more information on how you can use this to your advantage. For buyers looking for the coming soon inventory, be sure to ask our agents. We can now search for those listings in our MLS. Things are starting to heat up this time of year. You should expect to see multiple offers more and more, especially in the busy segments of the market. If you have any questions about this or would like more information on prepping your house for sale or what your home’s value is, please reach out to us. We’ll be glad to assist you.

Do you feel stressed out? I know I do. Working full time and keeping up with my four daughters makes it increasingly difficult to find tranquility and relaxation. That’s why I decided to incorporate some Zen principles to create a comfortable haven for all of us. In interior design, Zen reflects balance, harmony, and relaxation, and here’s how you can apply it to your own bedroom. First, choose a natural color pallette. Neutral colors like white, gray, and warm brown provide a timeless backdrop that evokes the calmness of nature and matches any accent color for an ordered space. Second, invest in a great bed. A substantial and comfortable bed promotes a good night’s sleep. Opt for a mattress with a dense memory foam core—it’s awesome! When arranging your furniture, position the bed against the wall farthest from the door. This achieves a sense of safety and allows for more foot traffic to flow through the room. Also, consider anchoring the bed with a heavy wooden or upholstered headboard or a dark accent wall. These things create a sense of being enveloped or cocooned. Next, pay special attention to the lighting. One of the most annoying ways to lose sleep is by glaring sunlight flooding your space. To create a nurturing sleep space, cover windows with light-blocking roller shades framed by beautiful linen drapes. To give the room a welcoming glow at night, frame the bed on either side with table lamps or wall-mounted reading lamps. Soft, indirect light, rather than the harsh brightness of overhead light, will help maintain healthy circadian rhythms. Lastly, layer on those natural textiles. From wool rugs to cotton bedding, go overboard on high-quality natural textiles. The softness of the material will cushion sound and make comfort and calm a priority. For large area rugs, look for 100% wool since synthetic blends don’t hold up as well to traffic and vacuuming. When shopping for bed sheets, choose 100% cotton with longer fibers, such as Egyptian or Pima. “Go forth with calmness, serenity, and balance.” Now you’re ready to create your own Zen bedroom. Go forth with calmness, serenity, and balance. If you need help adding some Zen to a home you want to sell or you’re looking for a home of your own that could use a special Zen touch, give us a call or shoot us an email. We’d love to help you and those you care about move with confidence.

When it comes to the matter of job changes, it is best to avoid alterations in your employment status until after a home purchase is complete. Here’s my advice on this kind of situation. Today I’d like to go over what you need to know about undergoing job changes while trying to obtain a mortgage. First, what happens if you transfer from a being a W2 employee to being self-employed or to a 1099 status? Especially when you take on a 1099 status, most lenders are going to want to see two years of your commission before they give you a loan. I was recently having dinner with someone whose employer informed them that they would be changing positions from a W2 to a 1099 employee. On top of that, this person was in the middle of the home buying process. This presents a major issue. My advice to this person was to wait until the home purchase was completed to change their job status. When it comes to other kinds of job changes, like moving within a company to another W2 position, the situation is less critical. Nevertheless, it’s still important to speak to your lender about any such developments. “Anything that could threaten or change your ability is something your lender needs to know about.” Keeping your lender in the loop on changes in your life is very important to the success of your home purchase. Anything that could threaten or change your ability is something your lender needs to know about. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

As you may or may not know, 850 is the best possible credit score that you can get. While it may seem out of reach, there are actually quite a few people who crest that mountain and reach the top. Careful budgeting and detailed attention to every aspect of their financial picture are the umbrella tactics that these high scorers use to get and maintain that score. These are tactics that you should be using, too. If you’re looking to buy a home in 2018, here are three tips that will help you get a better grip on where your credit is and where it needs to go: 1. Just shoot for a 720 score. If 850 seems out of reach, lower your sights to 720 instead. With this score, you’ll still have lenders fighting for your business and you’ll still be offered the best possible interest rate in most instances. This will also give you the lowest possible long-term loan costs of any consumer. 2. Set up automatic payments. According to CreditCards.com, a good 35% of your credit score is taken from your payment history. You may have missed payments in the past that you have to deal with now, but you certainly don’t want to make another mistake while you’re preparing to buy. Just make sure that there is enough money in your account to cover the payments on the day that the money will be coming out. If you’ve been busy moving funds into a savings account for a down payment, you’ll want to set a reminder to put money back into the account that your automatic payments are attached to. “Pay down your credit cards, but not too far.” 3. Watch your credit limits. Banks don’t look kindly on those who use all of their available credit because it gives the appearance that you aren’t living within your means. Available credit is actually the second-most important factor in your credit score. Experts recommend keeping your balance on each card under 50% of its limit. Getting that number to 30% or 20% is even better. However, don’t pay the card down too much. While a zero balance might indicate that you are financially savvy, banks like to see responsible credit management instead. This means using your cards and paying down the balance to a reasonable level this month. If you have any questions for us about your credit, what you can do to improve it, or anything else related to real estate, give us a call or send us an email. We look forward to hearing from you soon.

There are a few tips and tricks you need to remember if you want to keep your vacant property well-maintained this winter. If you’re worried about your vacant property this winter, here are a few things you can do to put your mind at ease. First, keep the heat on and make sure it’s at a minimum of 55 to 60 degrees. If you use oil or propane, make sure you have enough to get through the wintertime. We had some issues with people late last year who discovered at the last minute that their property had no oil and were stuck trying to get some on New Year’s Eve. You can use kerosene or diesel fuel to work through and clean your system, and it will run off of those things as well. If your property is going to be vacant for a while, you may want to turn the water off. There are many home inspectors who will do that for you, so if you need a good contact for that, don’t hesitate to reach out to us. “If your property is going to be vacant for a while, you may want to turn the water off.” If you’re worried about break-ins or having your copper pipes or HVAC system stolen and you want to periodically check on the property, you should consider installing a wireless alarm system. You could also ask a neighbor to check on the property once in a while and give them a spare key. Our office also offers a service for our clients where we check in on their properties once a week for them. If you have any more questions about maintaining your vacant property during the winter or you have any other real estate needs, feel free to call or email us. We’d be glad to help you.

Mortgage rates are still at historic lows. For many homeowners, it’s a great time to refinance. Refinancing allows you to pay off your current mortgage with a new mortgage at a lower rate. Refinancing means lower monthly payments and more money left in your pocket. But here’s something important that many people don’t know: Refinancing can affect your credit score negatively. You see, when you refinance, the new creditor will do a “hard inquiry” about your credit history. This inquiry can actually lower your credit score. Looking for new credit lines (like a new mortgage) equates with greater credit risk. How much will a hard inquiry actually lower your credit score? This depends on several factors. In some cases, a hard inquiry might not lower your credit score at all. However, if you’ve recently opened up multiple new credit lines (auto loans, credit cards, etc.), then a hard inquiry could decrease your credit score by up to five points. This is true if you only have a short credit history. And if you shop around for the best rate for more than 45 days, you will get multiple hard inquiries. Each of them will contribute to the total effect on your credit score. “A hard inquiry could decrease your score by five points automatically.” So what does this all mean for you? Unfortunately, there’s no simple answer. It’s going to be a part of the calculation you have to make for yourself, which will also include the refinancing fees, your own credit history, and how much you could be saving with a refinanced mortgage. If you’re thinking of refinancing, call us to get an idea of the equity you currently have in your home. We can put you in touch with several top Baltimore mortgage professionals who can help you through this decision. As always, if you have any questions about the Baltimore real estate market, give us a call or drop us an email. The Dailey Group is here to help you and those you care about move with confidence!

I’m sure you know all about the home flipping craze. You’ve all seen home flipping shows on HGTV. When you flip a home, you essentially buy a home and sell it soon after for a higher price. 10 years ago, flipping was a mainstay of the real estate boom that led to the financial crash. After some years of low activity, flipping is back in full force thanks to popular TV shows such “Flip or Flop” and “Fixer Upper.” “Today, flips involve improvements that increase the home’s value.” If you are interested in flipping homes, there are three facts that you should know. 1. Home flipping is more profitable than ever. A recent Waco home that appeared on “Fixer Upper” was bought for $28,000 and sold for $950,000, over thirty times the original purchase price. Of course, not all flips get such extreme results. As a whole, though, home flipping is more profitable than ever. In 2016, flipped properties sold for an average of $190,000, which was $62,000 over the median purchase price of $127,000. In other words, flippers got a 49.2% return, which is the most profitable flipping has been since 2000, the first year such data became available. 2. Flipping is caused by different factors than it was 10 years ago. 10 years ago, many flipped homes were just speculations. In other words, investors would buy a home and then wait, hoping the price would go up so they could sell. Today, more flips involve improvements that increase the home’s value, such as bathroom or kitchen remodels. The current flipping trend is a positive response to current market conditions such as the lack of homes for sale, the lack of new construction, and the rise in home prices. 3. Home flipping affects all buyers and sellers. If you are a buyer, you can clearly benefit from the flipping craze. There are flipped properties available in all price ranges, from entry-level to luxury homes. As a seller, this flipping boom means that you may face tougher competition when your home is on the market. The good news is that demand still far outpaces supply. If you are interested in flipping a home or seeing what your home could sell for with major improvements, just give us a call or send us an email. We would be happy to help you!

Should you list your home during the holiday season? The answer isn’t as simple as “yes” or “no.” Over the years, many clients have asked us whether it’s a good idea to sell during the holiday season. Well, it depends on your personal circumstances. “Whether or not you should list during the holidays depends on your circumstances.” If there is nothing pushing you to sell, we generally suggest pulling your listing off the market by the middle of November. Then, you can relist it in a couple of months. During that time off the market, you can even do some pre-marketing to help boost your listing’s success before it even hits the market. This isn’t to say that selling over the holidays is impossible. There are plenty of homes selling at this time of year. If you need to get your property sold as soon as possible, you can absolutely list during the holidays. In fact, decreased inventory during the holiday season can benefit your listing due to lowered competition. If you are planning to list, though, I recommend having the photos for your listing taken in the spring or summer. That way, holiday decorations don’t date your photos and make it seem stale if your property takes a little while to move off of the market. Exterior photos of your home should be taken while landscaping is still lush and green. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

It isn’t exactly cheap to buy a home these days, and I’m not just talking about the price of the home itself. Most people consider the sticker price and the mortgage payments, but there are a lot of additional costs that can sometimes shock first-time homebuyers. “Beyond the sticker price of the home itself, there are a lot of additional costs that can sometimes shock first-time homebuyers.” Here’s a breakdown of four additional costs to expect when you’re buying a home: 1. Inspections. Once you’ve made an offer, you’ll usually need to pay an inspector a few hundred dollars to take a look at the property. If the inspector uncovers any potential structural or safety issues, you may have to pay another professional to come in and give a specialized assessment. 2. Closing costs. There are two types of closing costs, so it’s important that you understand the difference. There are prepaid closing costs and then there are settlement fees. If the seller prepaid any taxes or homeowner association dues, you’ll have to pay them the prorated amount for the rest of the year or quarter. 3. The move itself. This cost will depend on where you’re living now, how far you’re moving, and how much stuff you plan to haul. In general, though, expect at least a few thousand dollars to hire professional movers. 4. The immediate costs. You may be able to put off certain renovations and new furniture purchases, but there are some costs that new homeowners will face right away. Having your locks changed is one example of this. As a homeowner, you’ll now also be on the hook for routine and unexpected maintenance costs. Be sure to have funds ready in case of emergencies. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

143 million Americans are potentially affected by the unprecedented Equifax hack. If you’re the average person who’s afraid of having your data stolen – and by data, we mean your name, Social Security number, birth date, addresses, credit card numbers, and driver’s license number that were reportedly involved in this breach – you may have already taken some steps to limit the damage. But what if you’re in the process of buying a home or are getting ready to do so? How does this hack affect you, and what can you do to make sure you are protected? Let’s start with the potential fallout for homebuyer. Say your Equifax file was looted but you’ve done little or nothing to detect fraudulent activity on one or more of your credit accounts. You sign a contract to buy a house, and you apply for a mortgage. If fraudulent new accounts rake up a significant amount of debt, that can affect your credit score. It creates a huge mess for those looking to qualify for home loans and those already in escrow. Even if you have never used Equifax directly, the credit reporting agency could still have a lot of your personal information. You can go to the TrustID Premiere website to see if you were affected, and you have the choice to enroll in their TrustID Premiere Credit Monitoring Service. To protect your credit and prevent thieves from stealing your identity, pull your credit reports for free once a year at www.annualcreditreport.com. Look them over carefully to make sure there are not any fraudulent accounts and/or charges. If you see anything, get on the phone with the creditor right away and start the dispute process. If you’re in the process of applying for a home loan or are under contract, you’ll also want to call your lender immediately to alert them to what you found. “Even if you have never used Equifax directly, the credit reporting agency could still have a lot of your personal information.” Finally, there has been quite a bit of discussion about credit freezes since news of the breach broke, with some consumers concerned that “turning off” their credit could potentially damage their score or negatively impact them in some other way, especially during the home buying process. A credit freeze is the most extreme method, but it’s also the most effective at preventing your information from being stolen and used to open new accounts. If you don’t want to lock out all creditors - perhaps you’re in the middle of mortgage shopping or refinancing - you can place a 90-day fraud alert on your credit that tells potential creditors to verify your identity before issuing credit in your name. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

You may be seeing fewer “For Sale” signs now that the summer is over. This can actually be a great thing for buyers and sellers alike. Today, I’d like to share four surprising benefits of buying or selling in the fall. 1.) Tax breaks. If you’re a buyer who closes escrow before December 31st, you might get a nice write-off on your taxes. For sellers, closing costs and home improvements may also carry tax benefits. 2.) Home for the holidays. Buying or selling early in the fall will allow you to be nicely situated in your home before the holidays arrive. You’ll also avoid some winter weather. Additionally, buying or selling during this less busy time of year means you’ll have increased access to movers and other necessary resources. “Buying or selling early in the fall will allow you to be nicely situated in your home before the holidays arrive.” 3.) Less competition. There may be fewer homes on the market, but there are also fewer buyers. This means that buyers who are looking for their next home during this time of year will have a competitive edge. It also is beneficial to sellers, since the buyers who are looking are much more serious about finding a home. 4.) Good deals. If you’re able to get the timing right, the items you need to fix up your home could be priced to your advantage. Check out consumer reports to learn the best time of year to buy everything on your list. Also, keep holiday and Black Friday sales in mind. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Lee Tessier Team has been nominated once more for Harford’s Best Realtor of the Year award, and we can’t thank you enough. We hope that this year you’ll continue to support us by lending your vote. As you may know, the Lee Tessier Team has been nominated for Harford’s Best Realtor of the Year for the past couple of years now. This year, we are continuing that tradition and have been nominated once more. First of all, we want to thank all of our friends as well as our current and past clients for your continuing support. We appreciate everything you’ve done to help us reach the honor of this nomination. Today, we’ve got a favor to ask. If you could take a couple minutes of your time to give us your vote, we would massively appreciate it. We’ve been the No. 1 team in the county since 2011, and we hope to continue this trend. “We’re proud to be top agents for you.” We’re proud to be top agents for you and this opportunity would give us the chance to reach our community even further. As always, if you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Now that the temperature has dropped a bit, we’ll start seeing the leaves change colors and pumpkin spice flavoring everywhere. With fall color and pumpkin so prominent this year, you might be tempted to load your home up with both. However, if you’re trying to sell your home, a little discretion will go a long way. Here are some things to remember: 1.) Pay attention to your curb appeal.A few tasteful choices here and there is all you need to get the maximum impact on buyers. Make sure that fall leaves haven’t taken a toll on your yard. If they have, clean them up. 2.) Go easy on the Halloween gore.Everyone loves Halloween decorations, but not everyone loves the bloody or gory kind of decorations. Even if you loved the latest Stephen King movie, decorating your home with clowns is going to distract buyers. Keep it simple and traditional as to not scare away any of them. “Let in as much light as possible.” 3.) Let in the light. Open those blinds and make sure your windows are sparkly when trying to sell your home. Especially with shorter days, you have to let the light in. Maximizing your natural light will make the home look larger. 4.) Make your home warm and inviting.Put a few plush throws around the beds and couches. If you’re an overachiever, bake some cookies and leave them on the counter with a nice note welcoming potential buyers to partake. They will stay longer and it will make a great impression. If you have any questions for us or you’re looking to buy or sell a home this fall, don’t hesitate to give us a call or send us an email. We would love to hear from you.

There are a significant number of short sales still happening in our market, so here’s a brief overview of how short sales work. With the recent change we’ve seen in our market, homes values have increased, and as a result, we’ve also seen fewer short sales happening. There are still a significant number of people who are underwater at this time, though, so I want to answer a few questions you may have about short sales. First, what does the bank do with all of the seller’s information? They gather that information to make sure that when they’re combing through your bank statements, income, and finances, everything is accurate. For the private investors that put up the money for these short sales—say they put up $500,000, the home sells for $400,000, and they net $360,000 or $365,000 to satisfy that mortgage—where are they going to get back that $140,000 or $135,000 difference? Many times, they get these funds back through mortgage insurance, but they have to see how those clauses were written originally. That’s why there is a lot of behind-the-scenes investigation during a short sale. Usually there are several investors, so it could be somebody that’s servicing the loan for—say— Wells Fargo. There might also be several different companies that are serviced by them. They’re gathering that information and taking it back to the investors and combing through what insurance premiums they have to offset those losses. “There is a lot of behind-the-scenes investigation during a short sale.” After that, it’s a question of what those investors are willing to take. Sometimes they ask the seller to pay a portion of that loss. One of the other major factors to consider is tax deficiencies—maybe you lost $50,000 and now you have to claim that as income. Sometimes it’s not just agents giving you that information, which is why it might be helpful to talk to a real estate attorney or an accountant who’s familiar with short sales. There are several people involved in the process who can help you. If you have any more questions about short sales or need a referral for a good accountant or real estate attorney, don’t hesitate to give us a call. We’d be glad to help you.

If you want to sell your home quickly and for top dollar, here are five home staging tips you need to remember: 1. Offer curb appeal. Change out the house numbers, the outdoor lighting, the front-door color, and put out a tasteful welcome mat. It makes your house look well-maintained. 2. Create ambiance. Appeal to all five senses in your home. For sight, use lighting to brighten dark spaces. For smell, create a subtle, pleasant scent like vanilla or citrus. The key word here is “subtle,” because you don’t want buyers to think you’re hiding something. Incorporate textures or textiles that promote a personal touch. For sound, turn on some quiet music. For taste (my personal favorite), leave out a candy bowl or a water bottle with a nice welcome note that welcomes your guests to stay a little bit longer. 3. Embrace the floor space. Make your house feel spacious. Put breathing room around pieces of furniture and use mirrors to reflect natural light. We tend to fill up rooms when living in a house, but when selling, less is definitely more. 4. Emphasize architectural details. If there is a quirky space, play up its strengths. For example, turn an empty space under the stairs into a cozy reading nook. “You’re not just selling a house—you’re selling a lifestyle.” 5. Play up a lifestyle. You’re not just selling a house—you’re selling a lifestyle. Show buyers the kind of life they could be enjoying in their new home. If you or anyone you know could use some help getting their home up to par to get the most money possible from its sale, don’t hesitate to reach out to us. We’d love to help!

It may seem like a good idea to renovate certain aspects of your home before you sell, but there’s no guarantee that you’ll get a full return. Today I want to talk to you about which improvements you can make that will maximize your home’s value. A lot of people think that if they put in a new kitchen for $25,000, they’ll get a full $25,000 in return. That’s not always the case. I spoke with an appraiser at a meet-and-greet this morning about whether or not a good guideline existed to gauge home value. He said that when they looked at comparable sales, he looked at other homes in the area both with and without recent renovations (like new kitchens), and compare the prices. So in a lot of cases, you shouldn’t expect to see a dollar-for-dollar return on something like a new $25,000 kitchen, especially if it’s a custom kitchen in a higher-end home—you may only see a 50% to 60% return on that. Be careful when you’re doing these upgrades to sell your home. Contact a professional to come out, look at your home, and do a comparable sale analysis. Have homes in the area had similar updates? If so, were they full remodels or just partial ones, where you only replaced certain features like vanities or light fixtures? When we meet with our stager to come through the property, they’ll make recommendations such as changing the marble countertops to quartz, switching your faucets or light fixtures. Don’t be a Harry Homeowner and try to make these changes yourself without professional help unless you’re experienced— lousy renovations can seriously damage the value of your home. “Lousy renovations can seriously damage the value of your home.” Make sure you know what you’re spending, and whether or not that will help you sell the home, and get a return on your investment. For example, some people want to get a new roof installed when the roof is 15 years old, and there are still five years of life left in it—here, you shouldn’t expect to get the $8,000 to $10,000 that you spent on it as a return. It’s not worth investing the money in. If there was water damage or missing shingles, that would be a different story. Spend your money in the right places; that’s where contacting a professional will come in handy. Making improvements on a home that you’re going to live in for awhile is fine, and you can spend a little more on those changes, but it’s a good idea to stay away from trendy renovations. Trends come and go, and there’s no guarantee you will be doing your home a favor. There will be a different analysis for some who bought their home 10 years ago versus someone who bought 20 years ago, just based on what they may have to do to get the home ready to sell as far as upgrades go. So just know where you’re at, and again, contact a professional to help. If you want an accurate assessment of your house, give us a call. We’d be glad to walk through the home, give you suggestions, show how you compare to other homes, and give you a good value.

When Hurricane Harvey made landfall in Houston, it brought with it over two feet of rain and left in its wake tens of thousands of displaced people and hundreds of thousands more without power. I recently had the opportunity to travel down to the Houston area with my Keller Williams colleagues to lend a hand to homeowners whose homes had flooded due to Hurricane Harvey. Overall, this experience has been incredibly rewarding. I got to help a lot of families, but there are many more people who still need help. “Overall, this experience has been incredibly rewarding.” Rebuilding these areas is going to take more than a couple of weeks, so it’s important that we keep the energy going in the coming months as we help people get back to their normal lives. Please consider donating to our Red Relief program. Your contributions will help us supply food, water, clothing, and building supplies to these communities. If you have any questions about KW Cares, the Red Relief program, and our ongoing disaster relief efforts, please don’t hesitate to reach out to us. I appreciate your support as we work to help others through this difficult time. Sincerely, Seth DaileyOperating Partner at Keller Williams Gateway 

You’ve likely heard of Zestimates, Zillow’s instant online tool for determining home value. The Zestimate feature is something our clients bring up all the time when discussing where to price their home. However, a majority of people don’t truly understand what a Zestimate is, or how it works. The Zestimate is actually an algorithm created by Zillow which uses gathered information to determine home values. But, is it accurate? This is the question on everyone’s mind. Most lawyers would typically answer that it all depends. There are certain factors that a Zestimate simply can’t take into account. One of the most notable examples of this is location. Zestimates tend to be most accurate in cookie cutter neighborhoods where all the homes tend to look the same. If your home is unique or in a rural area, though, your Zestimate is likely going to be way off. “A Zestimate simply can’t compete with a real, custom valuation.” Another important thing Zillow doesn’t take into account is the presence of any upgrades or additions in your home. As you know, these things can dramatically change a home’s value. Remodeled bathrooms, kitchens, or basements simply won’t be taken into consideration. Even though these things add a ton of value, Zillow simply doesn’t consider them. As a more effective alternative, something I recommend to my clients is to allow my team and I to perform a custom valuation of your home. This is a great tool we offer to all of our clients who are thinking of selling their home. A Zestimate simply can’t compete with a real, custom valuation. We will come out to your home and examine all of its features to determine its value in today’s market. The market is always changing, so getting a valuation with these current conditions in mind is key. If you’re interested in a custom valuation, have any other questions, or would like more information, feel free to give me a call or send me an email. look forward to hearing from you soon.

When people are preparing their homes for sale, there are a lot of things that can go wrong. Today, I’ll be going over five of the biggest and most common mistakes people tend to make during this process. It’s no secret that preparing your home for the market can be stressful. However, knowing how to avoid mistakes before you make them will make a huge difference. “Knowing how to avoid mistakes before you make them will make a huge difference.” The first common mistake we see is overpricing. A correctly priced house, even one with a poor marketing plan, will always sell above one that is overpriced. Next, don’t wait until after you list to make necessary, simple repairs around the property. Trying to fix these things once a home is already on the market will make things much more stressful than they should be. Another common mistake is forgetting to declutter. Your home should be a clean, open space that buyers can imagine themselves living in.If clutter appears in photos of your home, many buyers won’t even bother coming to a showing. Clearing your space can be as simple as packing a few boxes and storing them in a garage or storage POD. On the subject of showings, not allowing buyers adequate access is the fourth common mistake I see sellers make. If you aren’t flexible with availability during the showing process, buyers may not want to deal with the hassle of rescheduling. Your home should be show-ready at all times. In fact, if your home is shown correctly this shouldn’t become an issue for you or your schedule. A well-shown home is more likely to sell. Finally, remember not to get too emotional about the house. It’s understandable to feel attached to your home; however, when you put it on the market you need to think of it as property rather than as your home. In fact, you should start thinking of it as someone else’s home. If someone wants to remodel or gives you a low offer, try not to be offended. Approach the transaction from a practical point of view. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How can you make sure that you hire the right real estate agent to guide you through our changing market? I’ll give you a few tips today. How can you make sure you hire the right real estate agent? 82% of homebuyers hire the first agent they talk to. Whether an agent was recommended or referred to you, you need to look at their online reviews to get a real idea of what it would be like to work with them. We have just over 200 reviews online. Just like when you buy merchandise, you need to check the reviews. We are selling a service, so you need to look at reviews and ask yourself, “What am I getting for my money?” Now, on the buyer side, you’re not paying the commission straight out; that’s usually paid by the seller. Still, it’s important that you hire a knowledgeable agent who will help you navigate the process. “82% of buyers hire the first agent they talk to, but are they getting the best value?” We have a team of real estate professionals so when you work with us, you will always have support. If you call the office and you can’t get in touch with your real estate agent, one of our licensed real estate assistants or other agents will help you with whatever you need. It’s also important that you work with an agent who will get you good comps before you make an offer. We are seeing a lot more “For Sale By Owner” properties as the market changes. You need to know about comparable properties in the neighborhood so that you don’t pay more than you should for the home. When that happens, the home usually fails to appraise. If the seller doesn’t agree to change the purchase price, it could cost you a lot of time and money. From the home inspection to giving notice on a rental to setting up moving companies, there are a lot of costs that come with moving. Since there is so much that happens during a real estate transaction, it’s very important that you have professional assistance from a great real estate agent. If you have any questions or are interested in buying or selling a home, just give us a call or send us an email. My team and I would be happy to help you!

Whether you’re buying or selling a home, you’ve probably come across Zillow and their Zestimate tool. Allow me to explain why you should tread lightly with the Zestimate and your home’s value. We have a lot of clients who get worked up over Zillow and their Zestimates. However, these Zestimates—Zillow’s home value estimation tool—are wildly inaccurate sometimes. In fact, the Zillow CEO actually sold his house in 2016 for 40% less than what his site’s Zestimate said it was worth. Zillow hasn’t walked through your property and they don’t know about any upgrades you’ve done, and they can’t factor in location. Your home’s upgrades compared to features of other homes that have recently sold are crucial in determining its value. Zillow aggregates and average of area home values rather than doing a fine-tuned valuation of your property. “Many sellers price their home inaccurately because of a Zestimate.” This is especially true with the market moving at as fast of a pace as it is right now. Many sellers think they can do it all on their own, but we see them end up pricing their home inaccurately thanks to a Zestimate. Similarly, when buying a home, you want a real estate agent to help you compare properties to determine values of the homes you’re looking at since Zestimates can be so far off. Zillow is the top website for real estate searches right now, but you need to work with an agent to see how homes you’re interested in compare. If you have any questions about Zillow when buying or selling a home or you’d like to know what your home is really worth, give us a call or send us an email. We’d be glad to help.

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.