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real estate: Do real estate market statistics tell a complete story? - 04/19/13 08:29 PM
Do real estate market statistics tell a complete story?
Do real estate market statistics tell a complete story? The short answer it depends. How you are going to use the information will impact the answer.
YES! Statistics do tell a story and create a historical record showing us the cycles in real estate and where we are in that cycle.
NO! if you are writing an offer in a “HOT”, “sellers” real estate market waiting for monthly statistics and trends is not a good strategy for winning. You may need to turn your focus to pending sales … (7 comments)
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real estate: What does “sold to original list price ratio” mean in real estate? - 04/19/13 06:45 PM
What does “sold to original list price ratio” mean in real estate?
What does “sold to original list price ratio” mean in real estate? Sold Price to Original List Price Ratio represents the ratios for the gross sales price to the original list price for individual listings.
Example scenario to help illustrate:
Listing A: List Price = 100,000; Sold Price = 90,000; Ratio = 90%
Listing B: List Price = 200,000; Sold Price = 150,000; Ratio = 75%
Listing C: List Price = 1,000,000; Sold Price = 700,000; Ratio = 70%
… (2 comments)
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real estate: What is real estate inventory? - 04/19/13 05:39 PM
What is real estate inventory?
What is real estate inventory? Real estate inventory in Maryland is the the number of properties with “active” status in the multiple list system (MLS). That typically includes residential properties. For sale by owner and new construction are not 100% available through the MLS.
There are other real estate categories such as lot & land and multi-family units & commercial that are separated in the mls for more efficient searching. In Maryland, commercial real estate requires a special license.
What is real estate inventory?
… (4 comments)
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real estate: Let’s look at real estate ~ days on the market - 04/17/13 06:40 PM
Let’s look at real estate ~ days on the market
Let’s look at real estate ~ days on the market. What does it mean?
Days on the market (DOM) is a calculation based upon the number of days a property is for sale. Days on Market is calculated from the date when a property first comes on the market (list date) to the time it is taken off the market due to a sale (contract date) or off market condition (off market date). If a property changes between Active and other statuses during the life of the listing(s), the cumulative … (2 comments)
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real estate: What is a Real estate “tire kicker”? - 04/17/13 05:25 PM
What is a Real estate “tire kicker”?
What is a Real estate “tire kicker”? A “tire kicker” is an indecisive shopper. They look and look at property and never find something that satisfies their needs or expectations. They are “fence sitters” waiting and wondering. They can be "fussy" or more politely put, "particular" about the property they ultimately choose, that’s assuming they do finally make a choice. Don’t get me wrong, it’s good to know what you want & look for it however, there is something to be said for compromise and well, a reality check. Most folks (real buyers) … (10 comments)
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real estate: What’s your strategy for winning in a hot real estate market? - 04/14/13 09:26 PM
What’s your strategy for winning in a hot real estate market?
What’s your strategy for winning in a hot real estate market? If you have been shopping for real estate in Maryland, more specifically, Baltimore, Howard, Frederick, Harford & Carroll Counties you are aware of the areas of aggressive sellers market. If you are not prepared you won’t stand a chance. Some properties are under contract in less than 24 hours on the market.
All buyers should have these basics in place, in a sellers market they are even more important to your successful purchase:
Solid … (5 comments)
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real estate: Maryland Real Estate is a lot like MD Weather! - 04/13/13 06:05 PM
Maryland Real Estate is a lot like MD Weather!
Maryland Real Estate is a lot like MD Weather! Temperatures have skipped from winter to the heat of the summer outdoors and in the real estate market. Freezing cold to hot, hot hot. I believe the advice remains the same for both situations, always know the conditions before you head out. Don’t leave your scarf or sunscreen at home, take it with you just incase. If you decide to leave something off make sure you understand the risk and the possibility of reward for making the decision that you … (3 comments)
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real estate: Harford County MD How can we tell the real estate market is improving? - 03/02/13 08:01 PM
Harford County, MD How can we tell the real estate market is improving? Absorption Rate.
How can we tell the real estate market is improving? One way is to look at the Absorption Rate. The absorption rate is a measure of how a market area is consuming the homes available.In other words ...How many months will the homes, currently on the market, take to sell if no more new listings are added to the market? The answer is the absorption rate. The absorption rate is a calculation of the number of active homes on the market divided by … (4 comments)
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real estate: Groundhog Day 2013: No Shadow? Better Call Your Realtor! - 02/02/13 05:05 PM
Groundhog Day 2013: No Shadow? Better Call Your Realtor!Groundhog Day 2013: No Shadow? Better Call Your Realtor!Punxsutawney Phil predicts springs early arrival with no shadow appearing when his weary body was from abruptly pulled from his toasty warm burrow early this morning. Don’t let springs arrival abruptly greet you unprepared to buy or sell real estate. In todays market, being prepared is the key to a strong real estate transaction.Groundhog Day is all about fun! Winters bitter temperatures and long dark nights leaves many of us dreaming about springs warmth, bright colors and sunshine. Predicting the weather is just as difficult … (7 comments)
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real estate: With this post I exceed my blogging goal of reaching 300,000 points - 12/06/12 05:24 PM
With this post I exceed my blogging goal of reaching 300,000 pointsWith this post I exceed my blogging goal of reaching 300,000 points, set for 12/31/2012, by 25 days and who knows by how many points. I know points are of no monetary value, to me they represent dreams, goals, vision, obsession, enthusiasm, commitment, pride, a willingness to work hard, doing whatever it takes to get the job done, going the extra mile, dedication, creativity, confidence, drive, accomplishment and a fire in my heart for the real estate industry and profession. I am passionate about helping people reach their goals through … (21 comments)
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real estate: How things work in Real Estate: Property Showings - 11/23/12 06:55 PM
How things work in Real Estate: Property ShowingsSeeing a property, what real estate agent’s call “a showing” is more to a showing than just going to the house. It does not matter if the house is minutes away or a county away there is a planning element that comes into play.Here's how it works:
You, the buyer, choose properties you would like to see. As your agent I look at the listing on the multiple list system (MLS) to see what the showing instructions are and what I can learn about the property based on the listing itself. The “showing … (3 comments)
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real estate: Eminent Domain, what is it & how does it affect me? - 11/07/12 09:10 PM
Eminent Domain, what is it & how does it affect me?Eminent domain is the right of the government to acquire privately owned real estate for public use. It may never directly affect you. People who own property, real estate, in the path of a government project, for example a road, transit line or even a watershed area, may be asked by the government to sell the property to the government for the purpose of the future project. You would be notified by mail well in advance of any construction taking place. One piece of Carroll County history I find interesting and, … (5 comments)
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real estate: 3 Post Superstorm Sandy Real Estate Issues - 10/30/12 06:22 PM
3 Post Superstorm Sandy Real Estate Issues3 Post Superstorm Sandy Real Estate Issues ~ Could Superstorm Sandy create problems with your real estate transaction? If the property you are buying or selling was in “Frankenstorms” path. The short answer is YES!
Inspection Homeowners Insurance Flood Insurance Be proactive, ask questions! Talk with your real estate agent,your lender and your insurance company to see if anything additional needs to be done prior to settlement. Sandy was a rare event, both sides of the transaction have responsibilities. Don’t set yourself up for problems down the road. If you have a property going to … (7 comments)
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real estate: Monday Market Report for Carroll County, MD 10/7 - 10/13/2012 - 10/15/12 06:54 PM
Monday Market Report for Carroll County, MD 10/7-10/13/2012Monday Market Report for Carroll County, MD 10/7-10/13/2012 18 Properties sold last week, median days on the market 81. The median sold price was $243,500, median original list price was $269,450, median list price at time of sale $249,450 with a ratio of 92.71% original list price to sold price ratio.What does Median mean?Metropolitan Regional Information Systems (MRIS) defines Median as “the middle value of the dataset. The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold. The Median Sales Price is the … (4 comments)
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real estate: Carroll County, MD September 2012 Real Estate Market Report, Normal? - 10/15/12 05:24 PM
Carroll County, MD September 2012 Real Estate Market Report, Normal?Real estate trends in Carroll County, Maryland are revealing a “normal” market. I personally think balanced is a better word. Normal is subject to interpretation. My favorite Aunt, Aunt Barb says “normal is a setting on the washing machine”, I have to agree. When the market is out of balance we end up with a buyers market or a sellers market depending on where the scales are tipped, too much inventory the buyers have the upper hand, too little inventory the sellers have the upper hand. Or in the case of a … (0 comments)
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real estate: Taking a bite of the apple with ipad! My Top 3 Apps - 07/24/12 08:03 PM
Taking a bite of the apple with ipad! My Top 3 AppsTaking a bite of the apple with ipad! I’ve considered MAC for a while and haven’t had the courage to make the change since I have been a PC user from the beginning of the computer age. A small step is better than no step at all. So, I finally did it, I purchased an iPad 3. It’s been on my wish list for quite sometime and I just couldn’t resist any longer. In any business, especially real estate, we have to be on top of our game. Naturally, I … (14 comments)
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real estate: Who's on your Real Estate Team? - 04/30/12 08:04 PM
Who’s on your Real Estate Team?
My personal opinion is that real estate “teams”, meaning a group of 2 or more agents operating their real estate business as a “team”, is not something I am comfortable with, it is not my style. Your real estate team should function much like a softball team. You are the pitcher, on the mound surrounded by the other players, catcher (your Realtor®), first base (Lender), second base (Title company) and third base (inspectors: home, well, septic, radon, etc.). The other field positions are filled with licensed contractors who can correct any negotiated issues with the … (13 comments)
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real estate: Questions buyers ask: Do sellers have the opportunity to weigh multiple offers? - 03/23/12 10:20 PM
Questions buyers ask: Do sellers have the opportunity to weigh multiple offers?Do sellers have the opportunity to weigh multiple offers? Yes, sellers have the opportunity to weigh multiple offers, IF, they get multiple offers. It does happen, especially with property priced aggressively, at or below market value. It doesn't happen on every property. Pricing has improved. For a while, following the market crash, sellers were overpricing their properties. Now sellers are being more realistic and getting closer to list price for their homes. In my post about market reports (Catonsville for example) and on the market reports I print out for … (3 comments)
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real estate: Carroll County, Maryland Real Estate Market Report ~ Drilling Down the numbers - 02/24/12 09:24 PM
Carroll County, MarylandCounty Wide Market ReportReal estate market reports can be drilled down in many ways.... national to local, even hyper-local. It’s important to understand what statistics you are dealing with.Carroll County, Maryland consists of 15 zip codes. These statistics are based on county wide numbers.New listings ~ 170 down -15.0% from Jan 2011New Pendings ~ 110 up 20.9% from Jan 2011Closed Sales ~ 78 up 27.9% from Jan 2011Median Sold Price ~ $221,500 down -5.7% from Jan 2011Active Listings ~ 852 down from Jan 2011’s 1,027 (year over year) and Dec 2011’s 877 the 5 year average is 983. Getting … (4 comments)
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real estate: More ~ Where do I find topics for my blog? ~ Carroll County, Maryland - 01/20/12 10:42 PM
More - Where do I find topics for my blog? ~ Carroll County, MarylandDo you still have your real estate license school text books? Brush the dust off of them and peek inside. Regardless of how current they are they still offer topics that can be used for blogging. If you’ve been in the business a while why not share how things have changed? Real estate is always changing, rules, laws, forms and it’s a job just to keep up. Reading is one of my simple pleasures. I try to read non-real estate material to relax, however, real estate is always … (6 comments)
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Diane M. Phillips, Realtor® Carroll, Frederick, Howard & Harford Co.
Manchester,
MD
More about me…
Frankly Real Estate Inc.
Address: Baltimore County, Carroll County, Frederick County, Howard County and Harford County, MD
Office Phone: (703) 827-4006
Cell Phone: (443) 286-4365
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