It is amazing of how the market has changed from a sellers market to now a buyers market and the expectations of seller and especially buyers. Just 2-3 years ago, a person selling their home was able to demand the list price, and in many cases; a price above the list. There was then a change to where buyers were very hard to find and sellers had to come to the realization that they will be lucky to get the list price for their home. Recent statistics show that the seller now should expect only about 91% of the list price for their home. (MRIS market report)
Buyers now expect that the seller should take less than the list price and also to get closing help on top of the reduction. I recently had a buyer that made an offer 24% less than list plus wanting an additional 5000.00 of seller help. This was against my recommendation but as their agent, I diligently tried to negotiate this price. After this offer was rejected, and suprisingly the sellers did counter, it died a terrible death. When asked, the buyers told me that they came up with that price from a segment on CNN.
Folks, CNN are not real estate professionals, and their reporting is a nationwide view of the real estate market. Ask any real estate agent and they will tell you that the local conditions are what matters and that your real estate professional is the person that you should be listening too.
Bottom line is that sellers are willing to help with closing in most cases, but they will not just give their property away. Discuss your offer with your agent, give a reasonable offer based on supportable facts from a market stand point, and chances are that every one will have a win-win situation.
Gary and Mary Nelson | Long and Foster Bel Air North | 410-459-4158 O: 410-879-8080
1331 Macton Road, Street, MD
PRIVATE SETTING, LOTS OF SCENERY, LOTS OF ROOM!
5 Bdrm Single Family House
offered at $979,000
Year Built
1987
Sq Footage
3,800
Bedrooms
5
Bathrooms
4 full, 0 partial
Floors
3
Parking
4+ Car garage
Lot Size
11.12 acres
HOA/Maint
$0 per month
DESCRIPTION
Walk in your large living room from an enclosed porch, where you will find hardwood floors, built in bookcases, and large window with a view. Of to the right is the large country kitchen and family room w/ fireplace and another sun room. The wrap around deck has a lovely view of the 11+ acres of rolling hills and beautiful scenic view. This is a must see home for someone who will love the privacy.
The following is the market report for Joppa Maryland in the last 7 days of activity:
Total Active Properties: 124
Total properties under contract: 20
Total Properties sold in last 30 days: 4
This small community is showing lots of activity, inventory is low and we noticed a decrease in active homes from the beginning of August. Lets hope that this continues in September.
Gary and Mary Nelson, REALTOR
Long and Foster Real Estate, Inc.
Direct Line: 410-459-6920 Office: 410-879-8080 ext: 6026
The following is the market report for Abingdon Maryland in the last 7 days of activity:
Total Active Properties: 260
Total properties under contract: 45
Total Properties sold in last 30 days: 10
The first week in September shows Abingdon with lots of active properties. Being that this is a townhome community, a majority of these will take some time to sell. It is hoped that now that the holidays are past, that buyers will begin to be serious in searching for the home of their dreams.
Gary and Mary Nelson, REALTOR
Long and Foster Real Estate, Inc.
Direct Line: 410-459-6920 Office: 410-879-8080 ext: 6026
The following is the market report for Edgewood Maryland in the last 7 days of activity:
Total Active Properties: 219
Total properties under contract: 39
Total Properties sold in last 30 days: 11
The first week in September looked good in Edgewood, with 11 properties closing the last week. Active properties remain constant and total under contract changed very little. With the holiday past, I am forcasting that Edgewood will start seeing an increase in closing for the rest of the month.
Gary and Mary Nelson, REALTOR
Long and Foster Real Estate, Inc.
Direct Line: 410-459-6920 Office: 410-879-8080 ext: 6026
A little off the subject, but thought that some of you might like to hear about something other than mortgage company's, real estate, or what is usually talked about here. This is a dive report for a wreck dive we did on Sunday.
Myself and 5 others made the trip to Indian River, DE. to catch the dive boat "To Dive For". We had chartered the boat and decided to dive on the Washingtonian. This ship was sunk in a collision with the Elizabeth Palmer back in 1915 and is laying in 90 feet of water off Ocean City Maryland about 15 miles of the coast. It took us a hour and 15 minutes to make it to the site, the ocean was with us by being smooth with very little wave action. We anchored in without any problems and made it down to our first dive. Things might have been good on the surface, but at depth; it was pretty lousy. Visibility was at around 10 feet if we were lucky and there was a slight current on the bottom. My first dive was a collection of things not to do on a dive. Within a few minutes, I lost my dive buddy on the wreck and so did most of the dive without anyone around me. DUMB. Then when it was time to surface, I got turned around and found myself at the wrong end of the wreck and had to do a free accent without the anchor line. Suffice it to say that I am kind of embarrassed with my actions...
The above are two photos I took on my first dive. As I said before, visibility was really bad so I didnt get to many good photos. The left side was some star fish I had seen, the right was a fuzz ball I thought was interesting.
So, on the second dive of the day; I took the lessons from the first dive and did a text book dive, down the anchor line, used wreck reel to keep from getting lost again, stayed with buddy, up anchor chain and did deco stops. Both dives were enjoyable even with the issues. Maybe next time, I can get some decent photos of the wreck itself.
The following are the housing statistics for the month of August 2007 in Harford County:
Total Active: 1884 (Holding steady compared to July 2007)
Total under contract: 131
Total Sold: 273
Total Withdrawn/Expired: 260
The total under contract drastically reduced in numbers for August compared to July, probably due to the fact that folks are getting that last little vacation in and getting the kids ready for school. The total active is holding fairly steady, total sold was slightly up from 254 for July and withdrawn/expired is pretty much the same as July. I would expect things to start picking back up in mid-September.
Gary and Mary Nelson | Long and Foster Bel Air North | D:410-459-4158 O: 410-879-8080
501 Catalpa Lane, Edgewood, MD
Needs some updating, but a great price!
3 Bdrm Single Family House
offered at $224,900
Year Built
1962
Sq Footage
1,001
Bedrooms
3
Bathrooms
1 full, 1 partial
Floors
2
Parking
Unspecified
Lot Size
10,112 sqft
HOA/Maint
$0 per month
DESCRIPTION
Your Chance to own a SFH for the price of a townhome! Features 3 BR, 1.5 BA, hardwood floors throughout, large rear yard, 1 car garage, located at the end of the cul de sac. Kitchen/bathrooms with recently installed flooring, windows, hot water heater also recently installed. This home is close to all major highways leading to Baltimore and Delaware and close to Flying Point Park where you can enjoy a day with the family. Don't wait to see this gem with a history, call today to get your private showing.
The following is the market report for Edgewood Maryland in the last 7 days of activity:
Total Active Properties: 221
Total properties under contract: 41
Total Properties sold in last 30 days: 2
August continues to be slow, which historically; normal for this time of the year. We are hoping that after the holiday, things will be back to a steady pace.
Gary and Mary Nelson, REALTOR
Long and Foster Real Estate, Inc.
Direct Line: 410-459-6920 Office: 410-879-8080 ext: 6026
Gary and Mary Nelson | Long and Foster Bel Air North | 410-459-4158 O: 410-879-8080
4406 Greenwich Ct., Belcamp, MD
You have to see this to believe it! Well maintained...
4 Bdrm Townhouse
offered at $243,900
Year Built
1996
Sq Footage
1,508
Bedrooms
4
Bathrooms
3 full, 0 partial
Floors
3
Parking
None
Lot Size
2,000 sqft
HOA/Maint
$45 per month
DESCRIPTION
This home has had some remarkable updates, you will need to see it in order to appreciate the fine landscaping in the rear yard, the additional bedroom located in the basement, the full bath rooms that were completely remodeled, just to much to continue. The Kitchen is amazing. A quiet area, yet close to shopping and entrance to I-95, this home has more living space than many single family homes.
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Central A/C
Central A/C
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