Maryland Real Estate

Real Estate Activity Picked Up in Davidsonville MD during October 2009

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Wed, 18 Nov 2009 09:12:00 -0600

The first-time homebuyer credit had no direct impact on real estate sales during October in Davidsonville, Maryland, since prices in this zipcode typically exceed the first-time buyer price range. Yet activity did increase last month over October of 2007 and 2008.

Other good news for Davidsonville home owners is that both the average and median prices increased over the same month last year and the days on market were nearly down to 2006 numbers. Unfortunately, the percentage of sold price to list price is still under 90% - although it went up 2% from the same month last year.

As you can see from this chart, the volume of real estate sales in Davidsonville is very low, so it's easy for statistics to take a dramatic swing up or down if just one sold property is extremely high or low.

For that reason, if asked to make a pricing recommendation to you today, I would expand my search to include both comparables and real estate trends in other Anne Arundel County communities with homes in similar neighborhoods priced in the same range. Other pricing considerations would include location, features and condition of your property.

If you're thinking of selling or buying a home in Davidsonville, Maryland, or you're simply curious about the value of your home, please feel free to contact me for a professional opinion.

Originally posted by Margaret Woda to FocusOnCrofton.com

Crofton Resident Featured in Wall Street Journal Today

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 17 Nov 2009 06:16:32 -0600

Want to learn more about Crofton resident Kristen Becker? Just pick up a copy of today's Wall Street Journal and turn to the Life & Style section.

Or you can click on the link to When Mr. Clean meets Ms. Messy to read the article online. You'll learn Kristen's age, how many children she has, who lives in her home besides her husband and kids, and which spouse is the neatnik (and which is the slob).

Kristen, we'll be interested in learning how columnist Elizabeth Bernstein "discovered" you and your husband.

Kristen has been a member of Crofton Village Garden Club since September and she's already making her mark by volunteering as the Youth Activities Chair for the club. She's also slated to be the emcee for our Plant it Pink Fashion Show and High Tea at Crofton Country Club on May 2, 2010.

And now she's a celebrity, too, after being featured in today's Wall Street Journal.

Originally posted to CroftonVillageGardenClub.com by Margaret Woda

How Does a Home Office Impact Your Property Value?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Mon, 16 Nov 2009 09:52:29 -0600

Don't believe everything you read about which upgrades do or do not increase your property value. All real estate is local, even hyper-local, and some general statements about real estate just don't apply in Crofton Maryland and other communities in the Baltimore-Washington area.

According to Allegra Muzillo, in a blog post earlier this month on Real Simple, it will de-value your home to convert a bedroom into a home office. Just to add validity to her point, she cites a Manhattan real estate expert who agrees, and says doing this will give you one less bedroom to advertise.

In fact, I've never seen an agent in this area advertise a home as having three bedrooms when the fourth bedroom is furnished and used as a home office. And I've never encountered a prospective buyer who couldn't imagine office furniture in a bedroom or bedroom furniture in an office.

Maybe we're just smarter in the Crofton area than folks in some other parts of the country! But what about your property value...

I don't believe it will make any difference at all in the sale price of your Crofton home, at least not in the eyes of an appraiser or assessor who is concerned with above-grade finished square footage. If the room has a closet and a window large enough to satisfy fire regulations for a bedroom, those factors will likely determine if it's a bedroom - not the furniture placed in the room or its usage.

My recommendation is very simple: Put your existing living space to work for you!

In neighborhoods like we have throughout the Crofton area, homes are similar enough that comps, market trends and condition will determine your property value. When you're ready to sell, focus on de-cluttering, cleaning, neutralizing, making repairs and staging because THAT will make a far greater difference in your selling price than whether there is a desk or a bed in one of the bedrooms!

Originally posted by Margaret Woda at www.FocusOnCrofton.com

Crofton Maryland Home Prices on the Rise

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Fri, 13 Nov 2009 07:41:34 -0600

The first-time home buyer tax credit is probably responsible for the decline in average and median home prices in Crofton Maryland since August, because first time homebuyers generally purchase at the low end of the market. Overall for the year, however, the trend in prices has been upward with the average sold price at $268,400 in January and $319,137 in October, and the median sold price increasing from $250,000 in January to $308,000 in October.

At the same time, that tax credit may be the reason more homes sold in September and October of this year than in 2008 - the only two months of this year when closings exceeded the same month last year.

My crystal ball is still fuzzy about the future of Crofton real estate because statistics are providing mixed signals. One thing is in clear focus, however: The number of new listings went down this year, and the number of non-contingent contracts went up. In fact, these two numbers are closer than they've been (for October) since 2006 - and that's something I'd like to see continue.

If we could have a few more months with the number of new contracts and new listings, I'd say we have a positive trend going and the future is bright for real estate in Crofton.

It will be interesting to see how the Crofton real estate market changes with the new expanded tax credit, which makes current home owners eligible for $6500 if they've owned and occupied a home for 5 of the past eight years. Hopefully that will give a boost to home sales in a different price range.

P.S. Be sure to click through and read Has Crofton Real Estate Bottomed Out Yet?

What's the Best Way to Honor Veterans in Crofton Maryland Today?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Wed, 11 Nov 2009 06:35:37 -0600

May I suggest you spend this evening in the company of your neighbors, as members of Baldwin Methodist Church, St. Steven’s Episcopal Church, St. Paul’s Lutheran Church and St. Elizabeth Ann Seton Catholic Parish perform Howard Goodall’s Requiem to honor our fallen service members.

This memorial service will be held at 7:30 p.m. tonight at St. Elizabeth Ann Seton, 1800 Seton Drive in Crofton, off Rt. 424 near Crofton Middle School. It will be the premier of this music East of the Mississippi and the National premier of the arrangement created especially for parish performance.

Participants in this extravaganza have been rehearsing for many weeks, and they say it’s exhilarating new music with expressive colour and driving rhythms. What a wonderful way to honor the veterans in our families and local communities!

Why not take a Veteran or active-duty service member out to dinner tonight and then attend this service together?

There are specials today for veterans and active duty military at many area restaurants including Outback Steakhouse and Applebee’s. Check with your favorite restaurant.

Originally posted at FocusOnCrofton.com

Top Five Reasons You Should Not List Your Own Home

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 10 Nov 2009 06:08:09 -0600

My clients fell in love with a beautiful home a few weeks ago, and they were very bummed when it sold out from under them. That's not supposed to happen in this market!

Undeterred, we wrote a back-up contract and crossed our fingers that this contract would self-destruct for some reason. After all, a previous contract on the property had fallen through weeks earlier, so maybe this one would do the same. And that's exactly what happened in just a matter of days. My clients could not have been happier.

BUT...

The seller was a FSBO with a real estate license. You know what they say about attorneys who represent themselves... the same was true for this real estate agent. A transaction that should have been smooth and pleasant for everyone became complex and unpleasant. (Maybe that's why two previous contracts fell through on the property.)

If you're a real estate agent who is thinking of selling your own home, take a minute to consider this:

TOP FIVE REASONS YOU SHOULD NOT LIST YOUR OWN HOME

Buying or selling a home does not bring out anyone's best qualities. OF COURSE, you're going to be highly emotional about every aspect of the transaction - you're only human. You may feel personally attacked any time the buyer asks for a concession, such as a home inspection repair, and you will probably react accordingly. A real estate license will not shield you from the emotions of selling your home. A listing agent will help keep everything in perspective for you.
Your professional reputation is at stake, as well as your home sale. It is likely that the real estate agent in you will go underground, and the FSBO in you will be the persona experienced by the co-op agent, the buyer, the title company, the inspectors. That could cost you their good will and even future business. Why risk it?
A homeowner simply can't be objective in negotiations. For example, you may be swayed by what you WANT for a bottom line, not what is fair in this market (like any home seller); you may get huffy over delays that are not uncommon in any transaction (slow appraisals, delayed test results, etc.); you may see the co-op agent as your adversary, when he/she communicates the buyers' position on the appraisal, inspection results, etc. (Remember, don't shoot the messenger if you don't like the message.)
You may make unnecessary concessions. A listing agent may save you a bundle of money and hassle because he/she is probably objective enough to identify the buyers' hot button. Perhaps the buyer cares more about the settlement date or those custom-built shelves in the family room than anything else. Knowing this could give you an edge in negotiating the contract or post-inspection addenda. As a FSBO, it's easy to overlook the buyers' priorities because you're naturally focused on your own.
Your E&O Insurance may not cover you in your own personal sale or puchase transaction. Check with your insurance company to find out for sure if you will be covered for errors and/or omissions. If you find yourself before your state regulatory authority for your performance as an agent in this transaction, you may have to pay your own legal fees and any fines imposed on you and your broker.

If you're not covered by E&O Insurance when you sell your own home, listing with someone else is a no-brainer.

Perhaps you can barter with another agent in your office to handle your listing. Some ideas: Cover for him/her when he/she goes out of town, assist him/her with a future sale or listing of a personal property, pay a reduced brokerage fee. Wouldn't it be nice for you if you could enjoy the same professional services that you give your own clients?

Remember that your broker is responsible for everthing you do as an agent, and the line gets really blurred when you sell your own home. Therefore, it's important for you to keep your broker or branch manager in the loop at each step of the transaction. You owe them an opportunity to supervise you in your role as an agent when you sell your own home because they could be held accountable for your professionalism (or lack thereof).

And last but not least... Chances are that YOU are your own worst enemy when you handle your home sale. Even a FSBO with a real estate license can benefit from the moral and professional support and advice of a listing agent throughout the sale process and closing.

Wear your "Seller" hat proudly today, and save your agent hat for the days when you're helping someone else sell their home.

IMAGES: Iclipart.com

Crofton Maryland Gardeners Honor Wounded Soldiers

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Thu, 05 Nov 2009 21:07:41 -0600

It's a November tradition for the Crofton Village Garden Club to make patriotic-themed floral arrangements for wounded soldiers and other patients. Each member makes two or three of them so we'll be sure to have enough for all 120 patients at the VA Rehab and Extended Care Facility in Baltimore, Maryland.

This is a very easy and inexpensive activity that your garden club, scout troop, office or other organization could easily duplicate, following the steps in this brief video. With 40 participants, it can be accomplished in an hour or less.

Please join us in thanking our wounded veterans in November and throughout the year.

Will This Maryland Wetland Soon Become Concrete? - Part II

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Mon, 02 Nov 2009 23:20:06 -0600

Why is it that the Maryland Department of Natural Resources went to great lengths to drain the pond on private property west of Route 3 in Crofton a few years ago when a Northern Snakehead fish was discovered there? (National Geographic News)

The answer depends somewhat on who you ask, but one common denominator in any conversation about this is the pond's proximity to the Little Patuxent River, just 75 feet from the pond. Officials and biologists were worried that this "air-breathing, land-crawling, voracious predator" would invade the state's river system and even reach the Chesapeake Bay, causing irreparable harm.

However, Maryland Department of the Environment apparently isn't concerned about the impact of development on this site, so close to the Little Patuxent River. In fact, they have issued a permit for a big box store there. I guess they don't anticipate that development of this wetland will impact the environment as negatively as that 24-inch long fish; that pollution and runoff to the Little Patuxent River, affecting the state river system and even the Chesapeake Bay, will not be a problem. Go figure!

I wonder, then, why this property was included in the Patuxent Greenway System established to protect “important” lands" If its location within the bounds of a designated State Scenic River in the critical area doesn't protect this property, can any land in Maryland be protected from a future covered in concrete?

These beautiful wildflowers were photographed at the site where the pond is located and the permit has been issued:

For more about this, please read Will This Maryland Wetland Soon Become Concrete? - Part I.

Crofton residents have successfully opposed the owner of this property and his various development schemes in the area for over 20 years. Unfortunately, this time he has succeeded in getting this critical permit from the government agency charged with responsibility for protecting our environment.

The Greater Crofton Council is an excellent resource for updates about this and other matters of local concern, so be sure to bookmark their website and check it often.

Look for Part III of this series next week on the Maryland Real Estate Blog.

PHOTO: Kathryn Para

Re-Pupose Your Halloween Decorations and Candy

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Mon, 02 Nov 2009 14:01:10 -0600

Recycle all things Halloween. Yes, even your perishables!

I wrote a post for the Crofton Village Garden Club website about this time last year that was a brief "how-to" for re-purposing one's Halloween pumpkin. I was reminded of that today in a conversation with a colleague about this very topic.

So before you throw away or put away all things Halloween, let me share this with you:

PUMPKIN:

Turn your pumpkin into a decorative container for a fall flower arrangement:

Cut the top off your pumpkin and set it aside.
Scoop out the inside of your pumpkin and discard it (or set it aside for making pumpkin pie, pudding, muffins or soup).
Place an autumn arrangement of flowers, grasses and leaves in a plastic or glass container into your pumpkin.

It's as simple as that!

Wouldn't the arrangment in the photo look beautiful on your dining table or sideboard?

Home sellers take note because this would be a nice touch to help buyers fall in love with your home.

CANDY:

Who says you have to eat Halloween candy from now until you're sick of it, however long that might be? Here are a few ideas you might consider:

Melt those chocolate bars in a double boiler, a fondue pot, or over a low heat on your stove. Use them as topping on an ice cream sundae, or perhaps as a fondue sauce for dipping fruit, marshmallows, or cake-squares. Hmm, hmmm, good!
Crush those hard candies and fruit-flavored Lifesavers, and sprinkle them in the windows of gingerbread house parts before you bake them. The candies will melt and create a stained-glass look for your gingerbread house. (Yes, I have done this!)
Cut up candies and nuts (candy corn, for example) and store it in a plastic bag until you need some candy sprinkles for ice cream, cookies or cake... or maybe substitute them for chocolate chips the next time you bake cookies.

Recycling doesn't just have to be about newspapers, bottles and cans.

'Would love to have your ideas, too, so please add them in your comments.

(Photos: istockphoto.com)

Will This Maryland Wetland Soon Become Concrete? - Part 1

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Mon, 26 Oct 2009 06:41:50 -0500

For the next few weeks, I'm going to share with you weekly photos of the wetlands on the west side of Route 3 in Crofton, Maryland. Enjoy them while you can because the property owner has somehow managed to obtain a permit from the Maryland Department of the Environment to develop this natural wetlands area into a site for a big-box store.

Community residents and activists successfully drove Walmart away and assumed the issue was dead. Little did we know that the permit process continued. Even if we had known it, who could have imagined that our state Department of the Environment would allow development of this 20-acre parcel along the Little Patuxent River.

It is, after all, within the bounds of a designated State Scenic River, in the critical area, and it is a part of the Patuxent Greenway System established to protect “important” lands.

Many thanks to Dick Lahn for this description of the area and to Kathryn Para for her photo. More information and more photos will follow over the next 4-6 weeks.

By the way, if you click through to this Letter to the Editor by Dick Lahn, you will see his two photos of this area 30-40 years ago, when it was known as Walch's Grove. The difference between then and now really is mind-boggling - but not as much as it will be if this area is paved over in concrete for future generations.

Will This Maryland Wetland Soon Become Concrete - Part II

Why Google When You Can Activerain?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Wed, 21 Oct 2009 15:09:39 -0500

Wanna find a good definition or description of "absorption rate"? Don't Google it, Activerain it.

Wanna know how to write a real estate business plan? - Don't Google it, Activerain it.

Wanna know what the word "kaizen" means? - don't Google it, Activerain it.

There is no end to the information you will find on Activerain, is there? That's why I usually check Activerain even before I do a Google search.

Wanna find an agent for your referral in N.C.? Check Activerain first, even before your company directory.

Wanna learn more about SEO (or simply find out what that acronym means)? Do an Activerain search and read, read, read. No need to sign up for that expensive class.

Looking for marketing ideas? - Learn about Postlets, V-flyers, Real Estate Shows, and hundreds of other ideas on Activerain. You'll find other agents sharing the tools they use - some of them are free!

Never written a market study? Get lots of ideas from those posted on Activerain by agents who do them every month (or every week).

Short sales have you frustrated? Find articles and even short sale coaches on Activerain.

Activerain has everything any real estate professional could want to know... and then some. That's why I Activerain (the verb) first when I'm looking for anything real estate. I Google and Yahoo and Bing for other things.

P.S. - Did I mention that you'll make lots of friends around the country on Activerain who share your vision, your goals, your values... and prospective clients will find you online and want to do business with you? It makes you wanna dance in the rain!

P.P.S - This is an unsolicited testimonial. You'll find lots of those on Activerain.

Operation Christmas Stocking - REALTORS as Santa's Elves

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 20 Oct 2009 08:28:47 -0500

Long and Foster agents in Crofton, Maryland, jumped into action when I told them about Operation Christmas Stocking, just five days ago.

There were so many bags and boxes of goodies in my office, two days later, that I could barely make a path to my desk. Yesterday, several agents and family members showed up to fill 101 holiday gift bags!

Toiletries, toys, playing cards, puzzle books and pencils, notepaper and pens, candy and lots of other things overflowed the holiday gift bags, along with a hand-wrtten Christmas card to say "thank you" to the gift bag recipient.

I'd like to say "thank you" to my office for responding so quickly and generously. You're amazing!

Crofton Maryland Real Estate Update - September 2009

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Thu, 15 Oct 2009 07:41:32 -0500

Crofton Maryland homeowners want to know, “Is the real estate market stabilizing in Crofton?” Using statistics from the five most recent years, I’ll do my best to answer that for you.

Good news:

More homes sold/settled during September 2009 in Crofton, Maryland, than September of the two most recent years, although we’re nowhere near the number of the bubble year 2006.
More good news: “Days on Market” are down almost 15% from the same month last year, and
Both the average and median prices are up slightly from September a year ago.

My daughter-in-law, Christine, prepared this chart so we can see a five-year trend in all the areas tracked by Metropolitan Regional Information Services (MRIS). I think this expanded look at the Crofton real estate market is necessary to get a true picture of any trends occurring in the Crofton Maryland real estate market:

Not all Crofton real estate news is good, however:

The number of new non-contingent contracts last month was lower than any September in recent memory – 17 in 2009 vs. 32 in 2006.
The sold price, as a percentage of list price, is down – also the lowest it’s been any September during a 5–year period.
The number of new listings is nearly double the number of new contracts. Until these numbers are more balanced, we can't realistically expect a stable real estate market.

Looking at all these numbers, that last bullet point is the one things that best answers the question, “Is the real estate market stabilizing in Crofton?” As long as new listings outnumber new non-contingent contracts, we will have a supply and demand problem in Crofton Maryland real estate.

Right now, if you divide the number of September listings (155) by the number of new non-contingent contracts (17), you will see a 9+ month absorption rate. The scariest thing about that may be the fact that we don’t know how home values may change during that 9+ month period – they could go down. For that reason, I encourage anyone putting their home on the market now to be aggressive in pricing their home so it sells sooner rather than later.

This chart and my commentary are based on figures for the entire 21114 zipcode. If you’re thinking of buying or selling a home in the near future, you will want information that’s specific to your neighborhood, or at least to the type of home (detached vs. townhome, for example).

Contact me any time for this information or, if you prefer, you can request a MARKET SNAPSHOT online.

P.S. Thanks, Christine, for preparing this chart of Crofton Maryland real estate statistics for September 2009.

Still Time to Participate in Operation Christmas Stocking

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Wed, 14 Oct 2009 04:20:24 -0500

It's not too late for you and your office to participate in Operation Christmas Stocking, the nationwide mega-effort to provide Christmas stockings or gift bags to deployed troops. However, time is getting short, since they have to be received in the Salt Lake City warehouse BEFORE NOVEMBER 1.

Just purchase some stockings or holiday gift bags at your local dollar store and ask other agents, lenders, closing attorneys, and even past clients to drop off goodies for filling them. Items don't need to be expensive. We found it efficient to have only about 3 or 4 people actually stuffing the bags, or dividing into teams might be a good option if enough people are participating in the stuffing effort.

Here are some ideas for filling the bags:

Hard candy, socks, games, toileties (toothbrush and toothpaste, deodorant, shampoo, sunscreen, hand cream, etc), yo-yo, playing cards, harmonica, inflatable beach ball, hand sanitizer, pen, paperback books, puzzles, bug spray, chapstick, etc.

Shipping is free, as long as the budget holds out. Here are the shipping instructions.

For more information, visit Operation Christmas Stocking - and get started today. If you're anywhere near Crofton, Maryland, I could use your help. Call me at 410-721-1500 for more information.

PHOTO: Melissa Slye stuffing holiday gift bags for the troops in October 2008.

What is That Purple Thing Hanging in The Tree?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Sun, 11 Oct 2009 10:09:59 -0500

Have you ever heard that question, while showing property? If so, chances are good that you didn't know the answer.

That purple thing, my friends, is a trap for Emerald Ash Borer. Which leads to the next question... what's an Emerald Ash Borer? (And tell me again, why do I care?)

Emerald Ash Borer is an exotic beetle from Asia that attacks ash trees. It has killed many millions of ash trees in Maryland, Michigan, Indiana and Ohio, and recently it's been found in Virginia, West Virginia and other states.

This invasive species of insect was the topic of a horticulture presentation made at my garden club meeting last week by Dick Bean, an Entomologist with the Maryland Department of Agriculture.

I'll be the first to admit that lectures are not my favorite programs... I much prefer flower arranging workshops and field trips to interesting places (like the one to Mount Vernon in June). BUT I always learn something when an expert like Dick speaks at one of our monthly meetings, and this was no exception. In fact, I was glad to learn about these traps in case a client does ask me about them someday, because they have been placed by the Maryland Department of Agriculture along roadsides and in neighborhoods in Anne Arundel, Prince George's and Anne Arundel Counties.

These purple traps are three-dimensional triangles or prisms made out of thin, corrugated, purple plastic that has been coated with non-toxic glue on all three sides. They are about 24 inches long and hang vertically in an ash tree or are secured to the trunk of a tree. The traps are baited with a lure (Manuka oil) to increase the attractiveness of these traps to beetles. They are not toxic, but they are very very sticky. If you find one on the ground, you should call local authorities (In Maryland, the number is 1-800-342-2507) rather than pick it up yourself.

You can re-assure your prospective buyers that:

1. These traps will not harm people, pets, or wildlife (BUT the non-toxic glue can be extremely sticky and messy.)

2. The presence of "that purple thing" does not indicate any tree in the yard, or even the neighborhood, is affected.

Photo at left shows trees that have been affected by the Emerald Ash Borer.

Here's how the trap works (just so you can sound like a know-it-all when your buyer asks):

During adult emergence of these beetles, they fly around ash trees, nibbling on leaves and looking for a mate. If an one lands on a purple trap, it will get stuck in the glue. In the fall, crews will return to trap sites to collect samples and remove the traps. Any insects collected from the traps will be cleaned and sent to the USDA identifier for verification, which will be communicated to the appropriate State plant regulatory official.

Maryland agents (and their clients) can learn the latest about the spread of this invasive species of insect on the MD Dept. of Agriculture website. I'm sure there is information on othe state websites, as well.

You just never know what you're going to learn on Activerain, do you? I'll bet it never occurred to you this morning when you woke up that you'd be learning about purple things hanging in trees. But you'll be glad you did read this if a client ever says to you "What's that purple thing in the tree?"

Anne Arundel County Maryland Real Estate - September 2009

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Sat, 10 Oct 2009 07:28:27 -0500

The real estate market showed quite an improvement last month in Anne Arundel County, Maryland, compared to September 2008. The number of homes sold and settled was UP almost 25% and the "Days on Market" went down over 11%.

I don't believe this is the beginning of a market trend for homeowners who are waiting for the market to turn before they sell, however. More likely, it is a temporary "bubble" that has been stimulated by the federal government's $8,000 tax credit (due to expire next month) and the huge inventory of bank-owned properties and short sales being picked up by investors at bargain prices and then flipped for profit (still at bargain sale prices) after some improvements. These properties continued to drive DOWN both the average (-13.95%) and median (-9.38%) sold prices in Anne Arundel County in September 2009.

There was quite a shift in the type of financing buyers used last month, compared to a year ago, with the number of Conventional loans remaining steady, but a lot more FHA and VA loans, and nearly three times as many cash purchases as a year ago. I suspect most of those cash purchases were probably made by speculators, not owner-occupant homebuyers.

Source: MRIS

Compare these numbers to buyers' financing choices in Anne Arundel County during the same month last year: FHA (140), VA (41), Conventional (153), Cash (13), Assumption (31), and Other (10). FHA has grown exponentially as the financing of choice - probably due to the disproportionate number of first-time home buyers pulled into the market-place by the temporary $8,000 tax credit.

If the tax credit legislation expires, as scheduled on November 30, it will be interesting to track financing for another year.

My crystal ball: I consider the greatest predictor of future real estate trends to be the comings and goings in the market... New listings coming on the market each month vs. listings going under contract. In September 2009, there were 810 new listings in Anne Arundel County, Maryland - more than double the 379 non-contingent home sales. Even if you add in the 170 contingent home sales for a total of 549, the inventory is still growing at a much greater rate than homes are selling.

This is one of the prime measures of a "Buyer's Market" - i.e., when market conditions favor home buyers, rather than home sellers. With 4038 homes on the market throughout the county in a single month, 482 going to settlement, and 549 combined contingent and non-contingent new contracts - buyers clearly have the upper hand. In a nutshell, they have options... many options. If one seller won't meet their terms, chances are the next one will.

So yes... things are better, in that the number of homes sold and settled went up nearly 25% last month over the same month last year, and the "Days on Market" went down. BUT let's not start celebrating quite yet.

Do You Vacuum Your Lampshades?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 29 Sep 2009 06:54:21 -0500

That's not a trick question... go ahead, answer it! Do you vacuum your lampshades?

'Just curious, because I do a few times each year, but I've never seen that task on any list of housekeeping tips.

(If you're looking for an inspiring real estate post, please move on. This is not going to be one of those.)

I took advantage of the opportunity to get a few things done around the house that are not part of my normal routine, when my husband was out of town a few days. As I vacuumed the lampshades, I was amazed (as I always am) that they still look like new. I patted myself on the back for taking such good care of them, and it dawned on me that they are older than my children. (Shhhh... don't tell anyone, but the oldest is 40.)

Who could have imagined that a pair of lampshades would last that long? I didn't even pick them out, so I can't ask myself if I would have selected something different, had I known they'd still be in my living room four decades later.

While my husband was a Naval Officer on a ship serving off the coast of Vietnam for several deployments over the course of four years, he had a few opportunities to visit a few Asian ports during R&R stops. The lampshades were among many things he brought home to me - along with a large hand-carved chest (which serves as an end table in my living room), brass lamps (that host the oversize shades), and several other treasures.

Picture this, if you can... After purchasing these goodies, he transported them on a small boat back to his ship in the harbor and then he carried them on his back up a ladder on the side of the ship. Had he dropped them, there would have been a big splash... Then I would have picked out lamps and shades at a local store and probably replaced them periodically over the years. LOL.

Given their history, obviously these lamps aren't going anywhere as long as we're around!

Okay, there's no punch line here... I was just thinking out loud - or more precisely through my fingertips. But I am curious to know if other people vacuum their lampshades (and if anyone has lampshades older than mine.) Come on... you can tell...

(Who says that Activerain posts have to be about real estate?)

Why Read Localism Posts on Active Rain

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Sun, 27 Sep 2009 13:34:45 -0500

I couldn't help noticing that some hyper-local posts have been appearing recently on the "Featured" dashboard of the Activerain homepage. They don't generate quite the number of comments that general posts do, but maybe they should.

Featured posts are usually well written, full of good information, and - in the case of local posts about a specific neighborhood or community - they are a great source of ideas for our own writing. Please... take a minute to read and comment on these, if you haven't already:

Diane Aurit's post, Lake Norman Overview September 2009, demonstrates for us that a market report does not have to be full of statistics packed into all the charts and graphs we can possibly display. In fact, it's an interesting narrative that will probably inspire local consumers to read from start to finish. Isn't that something we should all be doing with our consumer-targeted Activerain posts?

Teri Eckholm's TEN GREAT Reasons North St Paul, MN is a Perfect Place to Call Home! had me scratching my head, trying to think of of ten great reasons my market is a perfect place to call home. Yes, I've done a list like that before, but she had some really interesting things, and her list did not sound like a travelogue or an ad. Couldn't we all find some inspiration in the things she chose to list?

Mike Jones's post, Unique Architecture: Ez-Kim-In-Zin Picnic Area In Tucson's Saguaro National Park West, features one of his fabulous photos and makes me want to include this picnic area on my "must see" list when I visit his corner of the world. I have no doubt that local residents read his blog regularly, and I wonder who they'll think of first when they want a home purchase or refinance mortgage. Not just because of his low rates or great service, but because they know him through his blog.

These are just a few of the recent "local" posts that have been featured on Activerain, BUT don't stop with featured posts... there are several groups where you can find posts with local content. Local Experts and Posts to Localism are just two of them which I encourage you to join and read because you will be inspired by the posts you find there. You will probably never suffer writer's block again, if you do, because you will have a new resource for blog topic ideas.

Not only that, you will meet new friends who may become your best friends on Activerain when you read and comment on local posts. That's because the local posts don't generate as many comments, so yours will be more appreciated than it is as one of sixty+ comments on a typical featured post. Your comment is more likely to result in reciprocation, and that is how Activerain newbies (and oldies) build relationships here on Activerain. (That's a topic for another day.)

And you will have a new destination for referrals, because you will naturally be inclined to refer your relocating clients and customers to an agent who loves their market. What better way is there to make the case that you deserve business in your area than to write about it in loving terms?

Those are some of the reasons I enjoy reading Localism posts on Activerain. Why do you read them?

Do You Qualify for a Short Sale on your Crofton home?

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Sun, 27 Sep 2009 08:07:50 -0500

Owing more than your home is worth in today’s Crofton real estate market is just one of the factors determining whether a lender will approve your short sale. That alone is not enough to qualify for a short sale.

According to America's Home Rescue, you must first be able to satisfy your lender(s) regarding these three factors before most lenders will consider your short sale application:

1. You are behind in your mortgage payments.
2. You have a genuine hardship.
3. You have no equity in the property.

In fact, some lenders have a much longer list and they all require a lot of supporting documentation. On the flip side, some lenders are flexible about these three factors.

Please don’t stop making payments on your home just to qualify for a short sale. The fact is that you’re probably already behind if you do have a qualifying hardship.

You will have to jump through a whole bunch of hoops with your lender, even if you do meet this basic test – and the process will be different, depending on what kind of loan you have. If you owe more than you can get for selling your home, ask your prospective real estate agent if they know the process for short-selling a home with YOUR loan type and/or YOUR combination of first and second trust. (If they know, they’ll be able to explain the difference between your loan type and another.)

Finding a buyer for your Crofton home may not solve your problem. If your agent doesn’t really know the short-sale process, he/she may give you well-intentioned but wrong advice on what is or is not an acceptable short sale offer from your lender's perspective. After weeks or months of uncertainty, your buyer could withdraw or your short-sale application could be turned down and you could lose your home to foreclosure.

If there was ever a time in your life to choose the most experienced real estate agent instead of the cheapest, this is it.

Selling short may not be an option for you, so you need to know “up front” what your chances are of qualifying for a short-sale, what the process is (and follow it!), and what other alternatives there are for dealing with the “under-water” or “upside down” loan on your Crofton home.

Small Victories Make Me Love My Job

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Sat, 26 Sep 2009 07:45:18 -0500

My rental client's application was accepted this week for a condo in Crofton, MD. 'Doesn't sound like a big deal in this world of high-stakes real estate buying and selling, but it was very important to him.

It meant the difference between having a roof over his head or not - or, at the very least, between keeping his son in the same school or having to move to another neighborhood when his current landlord decided to sell.

Telling this client the bad news when his first rental application was rejected was tough... and the second... but the third time was charmed, and I couldn't have been happier if it was a multi-million dollar sale.

This rental wasn't a huge victory, like the one Katerina and Nestor Gasset told us about earlier in the week (Short Sale Strategies- When The Lender Blames The Investor- Case In Point), and the commission for any rental is minimal. But this transaction does remind me why I love my job:

It's the people we serve, and helping them achieve THEIR goals, big or small.

Crofton Maryland Real Estate Update - August 2009

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 22 Sep 2009 11:32:09 -0500

Has the Crofton Maryland real estate market stabilized? That's a question many people are asking these days, and there is no simple answer. There are so many factors to consider, and here are a few of them tracked over a number of years:

If you prefer colorful graphs, I have some of those, too. Here's one illustrating how many homes sold in the 21114 zipcode vs. how many active listings there were in recent months:

There were 46 new listings in Crofton during August, compared to 13 new non-contingent contracts. Ideally, the two numbers would be about the same, because these figures indicate that the housing inventory is growing - and that's not what home owners want to see. (Economics 101: Supply and Demand) It is good for home buyers, but many of them are still sitting on the fence.

For more information about the local real estate market, including specifics about your neighborhood (as opposed to your zipcode), CONTACT ME any time.

Hermitage - An Upscale Community Near Crofton

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Tue, 22 Sep 2009 07:15:48 -0500

As you leave Crofton and head east on Route 450 towards Annapolis, you'll spot this entrance into the community of Hermitage - a community of 62 custom-built homes on spacious lots.

You can see from these photos that Hermitage is not a "one size fits all" community... in fact you'll find homes and settings for every taste, from colonials to ranchers, tudors to contemporary, and wooded to open space. Yet it's not a hodge-podge, either, because the homes are far apart on winding and sloping roads that seamlessly take you past one home to the next.

There are no homes on the market now in Hermitage and no recent sales to report - in fact, the last sale/settlement in the community was January 2008 ($810,000). There is one home under contract, however, and it sold in just seven days. This is a stable community where people buy a home with the intention of staying! (Homes in the photos are not for sale.)

The location of Hermitage is ideal for anyone commuting to D.C. or Baltimore, since it's easily accessible to Route 50 (to D.C.) or Route 3 and I-97 (to Baltimore), depending on which way you turn at nearby Davidsonville Road (Rt. 424). It's a neighborhood that homebuyers select for that convenience, as well as its proximity to Annapolis and the Chesapeake Bay. The U.S. Naval Academy, Fort Meade, and Andrews Air Force Base are all within 30 minutes, as well.

Check out the homes in Hermitage and other upscale communities near Crofton. This is a GREAT time for current residents to move up without leaving the area and for relocating homebuyers to capitalize on a market that may make "upscale" more affordable for you than it would have been a few years ago.

Crofton Maryland Real Estate - Civic Association Meeting Could Impact Your Property Value

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Mon, 21 Sep 2009 09:04:18 -0500

The Crofton Civic Association annual meeting is tonight at Crofton Elementary School (7:30 p.m.) and the “hot topic” will be the future of Lake Louise.

Once the jewel of Crofton’s curb appeal, Lake Louise has been an eyesore for years.

In the early days of my real estate career, prospective home buyers were always impressed at the lovely entrance into “Old Crofton” – the beautiful pond known as “Lake Louise” and the meticulously maintained lawns. No more. Now their first impression of our neighborhood can be summarized in one word, “OLD”.

Contrast this with their impression as they drive into other nearby communities and even shopping centers where the lawns and beds at the entrance are impeccably maintained, seasonal flowers are in bloom, and water features often include a fountain, lighting and sometimes a walking path and benches…

There are several proposals for Lake Louise on the table, and you probably already read about them on the Crofton Civic Association website or in the letter mailed to every household. You’ll learn more about each option if you attend the meeting tonight.

The property value of every homeowner in Crofton will be impacted by any decision regarding the future of Lake Louise. That’s because the decision of prospective homebuyers to choose our community over another (let alone your home) will be influenced by the “curb appeal” of Crofton’s front yard along Route 3. A beautifully maintained entrance into the community creates that important “first impression” for the neighborhood. As you’ve heard before, “you don’t get a second chance to make a good first impression.”

Please keep that in mind as you consider all the options, and don’t “settle” for anything less than a first class landscaping and maintenance package for Crofton’s front yard. A “natural” look in your front yard wouldn’t appeal to many homebuyers, and it’s not likely to attract many of them past those front gates and into our community either.

Homes for Sale in CROFTON

Crofton Condo at Short-Sale Price without any Short-Sale Hassles or Delays

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Fri, 18 Sep 2009 13:35:03 -0500

You have less than two weeks to buy a Crofton condo before FHA purchase money for condos dries up on October 1. (Assuming they don’t come to their senses before then and cancel a planned policy change.)

That’s because condo communities approved by FHA before 10/1/08 will lose their approvals, and the process for approving them again is expected to be lengthy. And that is a good reason to buy a Crofton Condo NOW. Any Crofton condo. But…

THIS Crofton condo can be purchased at a price comparable to a short-sale at just $187,000, but it is NOT a short sale. You can avoid all the delays, hassle and frustration that short-sale and foreclosure buyers experience, without paying more – AND you will get FHA financing PLUS the $8,000 tax credit (if you settle before 12/1/09).

But this is no dump or handy-man special… The windows and kitchen counter-tops were recently replaced, and there’s neutral paint and carpet throughout. Washer, dryer and all kitchen appliances are included, and lighting has been updated.

Don’t let this condo in convenient Crofton Meadows get away!

Click HERE to Search all Crofton homes.

I Know You From Activerain...

Margaret Woda, Maryland Real Estate (Long and Foster, Crofton Real Estate) — Fri, 18 Sep 2009 06:30:20 -0500

If I had a dollar for every time someone said to me "I know you from Activerain" at the Maryland Association of REALTORS Convention earlier this week, I could take my hubby out to dinner tonight! Okay, that's an exaggeration, unless we're talking McDonalds, but it did happen several times. I almost felt like a celebrity.

'Just got back from three days in Ocean City, Maryland, but I saw the Atlantic only briefly each morning through my hotel room window. My days were spent in windowless rooms at the Roland E. Powell Convention Center, where I attended several continuing ed classes. (And yes, I did attend the Capitol Title and MetLife Home Loans parties on Sunday night.)

It wasn't unusual for someone to tap me on the shoulder and say "Aren't you Margaret from Activerain?" One person sitting next to me said "I read all your blogs." And several people approached me on Monday, as I sat outside the Convention Center on a bench to absorb a few rays of sunshine during the lunch break. None of these people are among those I consider my "Activerain friends"... Activerainers with whom I often exchange comments, talk with on the phone, even get together with to exchange "how-to's" and ideas - although I did see some Activerain friends, as well.

You'll probably see me posting listings more often now that I realize so many other agents in my marketplace are following me on Activerain. What a great way to get additional exposure for my clients! Who knew... 'Guess it just goes to prove that you never know who is reading your posts, since only a small percentage of readers take the time to comment.

(This is my cue to say, "Click through now to read about a Crofton Condo at a Short-Sale Price without Short-Sale Hassles or Delays.")

Thanks for following me, and thanks for saying "Hi" at MAR. If you gave me your name, subscribing to your blog was one of the first things I did when I got home.