Baltimore Real Estate

For Real Estate Agents - Should you put your license in referral?

In this market, it is getting harder and harder to be a success in Real Estate.  Many Realtors find that the fees involved in maintaining their license outweighs their income potential, especially if they are part time.   However, it is a hard decision to give up the license.   Every now and then you may get a family member or friend needing real estae services. 

Century21 Downtown created a referral company designed for part time agents.  Essentially a referral company is a place where a licensee can hang their license and not be required to pay the typical Realtor fees.  A licensee in referral still may collect a commission for clients referred to another Realtor.   This is great if the licensee still has a wide sphere of infuence of freinds, family , and associates who may need real estate services from time to time.  The part time agent is able to forgo the fees, hold onto their license and collect a sizeable referral fee from clients they refer.  The one thing to be clear on is that a licensee in referral MAY NOT perform real estate services.  They must refer the client to a Realtor.

Baltimore Office space

One of my clients owns a professional office building in Charles Village.  It is professionally managed and secure.  There is first come first served parking in the rear lot.  The rent is very reasonable and does not have any CAM fees.  There are several units available and start as low as $800.00 /mo.  The units are freshly painted and ready for occupancy.  Please call me if you are interested - 443-413-4621.  It would be great for a title company, staffing, telemarketing, or insurance.

Price your home correctly in todays Real Estate market

Are you a Seller wondering if there is a special formula to price your home to sell in todays Real Estate market?  Although there is nothing scientific, there are few several points to consider when putting a price on your home. 

 First of all, take a look at pending sales as well as homes that have already sold.  Pending sales give you a read on which homes are currently being placed under contract by todays Buyer.  Are these homes similar to yours?   How long did it take for the home to go under contract at that list price?  Is the square footage similar to your home?  Pending sales can give you a good idea of how long your home may be on the market at a certain price point. 

Familiarize yourself with other homes on the market.  Look at pictures,  go to open houses.  These homes are your competition, it is essential that your home is priced so that Buyers will choose yours over the competition.  In todays market, it is imperative that your home is perceived by the Bueyr as one of the top two “best values” in the neighborhood.  In some instances, your home needs to be the best value in the neighborhood.

Don’t be afraid to reduce the price.  If 8-10 perspective Buyers have viewed your home and you have not received an offer, then a price reduction is probably necessary.

 Before you price your home, always seek the advice of a REALTOR.  They have knowledge of the area nd will be able to help you review all the information and come up with a successful marketing strategy along with the proper price to sell your home.

Tips for renters

Renting a home seems easy - find an apartment in the paper, meet the landlord to look at the house, sign the lease and move in.   While renting is a lot less complicated than buying, there are many things that renters must look out for when renting.  Hopefully this article will be informative and help those looking for a rental.

Take notice of the condition of the surrounding homes.  Are they boarded up?  Are they well kept?  Are there railroad tracks in your backyard?  It’s easy to overlook the surrounding area when you are focused on the house itself.  Pay attention,  the answers to these questions could have an impact on the qualtiy of your life in that location.

Ride by the property at night.   Do you feel safe?  Are there any noisy bars or restaurants close by that may disturb you.

Thirdly, protect yourself.  Make sure the person you give you deposit check to is actually the owner or authorized agent for the property.  

Read the lease.  If you don’t understand something, get legal advice, especially if you are not using a REALTOR.  You will be bound to the terms in the lease you sign, so it is important you understand them fully.

Obtain renters insurance.  The landlords homeowners policy does not cover your belongings or cost of relocating if there is a fire or damage.  A renters policy is cheap and it will cover your possessions and pay the cost of relocating you if there is a fire.  To get renters insurance you can call your agent who handles your auto insurance and get a discount.

Most important - use a REALTOR!!!  I cannot stress this enough.  There is no charge for our service, the landlord pays our fee.  We are professionals and are conduct is governed by code of ethics.  We will guide you through the whole process.   Using a REALTOR increases your chance of a stress free smooth move.

 For more information on renting, please contact us.  We can help you find suitable housing or just answer any questions you have

Do Seller incentives really work?

Today many of my Sellers have been trying Seller incentives to help sell their homes.  Incentives are giveaways designed to attract offers.  For instance “Buy this house and receive a free plasma TV.”  Sounds like a great idea that may help close the deal - right?  In short, the incentive did not work.  Buyers thought the house must be overpriced.  Because of experiences like this, I recommend that Sellers skip the incentives.  Buyer see through them and think of them as  gimmicks.   The single most important thing a Seller can do is price the home properly.  Instead of offering an $2500 trip, I advise my clients to reduce the price.  If a home is priced prefectly, no incentives are necessary.   Aside from pricing, I also advise my Sellers to focus on curb appeal.  Add landscaping, flowers, paint your home a neutral color, remove all clutter.  

At the end of the day, proper pricing combined with  curb appeal and proper staging will sell your home.   A  buyer will not purchase a home they really don’t want  to get a free TV or trip to Disney World.   

Baltimore City College Fundraiser March 8th

Baltimore City College is holding “Knight Moves,” a fundraiser benefiting the PTSA.  The event will include food, music, and a silent auction.  Baltimore City College is the alma mater of Century21 Downtown broker and attorney, Barry Glazer.  The event will be held on March 8, 2008 at 6:30PM at Baltimore City College.

Investment property in Baltimore City

I just got a call from a client and he needs to sell his house fast.  It’s located in the Pimlico Area of Baltimore on the 3300 Block of W. Belvedere.  It is 3br/1 1/2 bath and renovated.  He’ll take $50,000.  This could be a great rental property.  If you know anyone interested please call me or email.  The potential rent could be as much as $850/month.   Finally a property where the numbers make sense!

Planning commission shoots down proposed eminent domain

At a planning meeting last Thursday the Baltimore City Planning commission voted against Baltimore City’s use of eminent domain to acquire land bordering Swan Park in South Baltimore for a project known as West Covington.