Anne Arundel County Real Estate

We continue to endure a drastically changed market in Anne Arundel County from that of pre-2005. We in the industry and our real estate buying and selling consumers are all adjusting to our new market norm of just over 90 days on the market for most home sale. While we hear a lot about 6 months and more for a home sale, the truth is that most of those homes are either not properly prepared or priced or both. We're in a "no fooling around" real estate market. Property owners need to do extensive home work, or hire an agent to prepare a very detailed market analysis for their homes. An extra $10k can and will make a difference as home buyers are passing on even fairly priced homes to pursue the bargains. And with our amazing 20% plus per year appreciation for the past 5 years, there are many home sellers who are more than willing to dig deep in to their pockets to incent buyers with closing help and price reductions.

The most important things that you can do as a home seller in todays' buyers market are listed below!

1. Choose a real estate agent who can present you with detailed comparable sales data for homes in your neighborhood. Are prices trending downwards? Project for that and price $5k below the competition and/or offer at least the average amount of closing help that has been documented in your neighborhood.

2. Get an expert opinion of your home's condition from a trusted real estate or home staging professional. Then act on that to complete all preventive maintenance and updates. DO NOT forgo making necessary repairs and touch ups. This is probably the biggest mistake we see. Homes that may need $500 to $1,000 worth of repairs are taking huge $5,000 plus price cuts to compete with those homes that are "move-in condition". Today's buyers estimate of move in condition is sparkly white glove clean, updated flooring, fresh paint and carpeting in neutral colors, and no obvious deferred maintenance like broken windows or screens, last year's mulch, or light fixtures that are more than 10 years old. This is a very simple "investment" in your home and who wouldn't do $500 worth of work if you knew it could yield you $5,000 return and/or a quicker sale.

3. Do be flexible on the sale price and terms for your house. No matter how much you love it, your audience is your homebuyer. They have to love it. If you have 10 or more showings or more than 30 days on the market without any strong interest, re-evalute your pricing and property condition.

There's much more but it won't fit here. Visit us on-line at http://www.fortmeadehomes.com/ for more Anne Arundel County Real Estate Information