David Orso Group of CENTURY 21 New Millennium Weekly Update - 8/4/2017
People always talk about the “spring buying season” when they talk real estate. However, this year it appears as though the summer national real estate market will be just as hot.
The most recent Foot Traffic Report released by the National Association of Realtors (NAR) revealed that there are more buyers out looking at homes right now than at any other time in the last two years including the past two springs (in orange below).
The Foot Traffic Report is compiled from data on the number of properties shown by Realtors. NAR further explains:
“Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”
We can see that the number of prospective purchasers out looking at homes has been greater each month this year compared to the same month in 2014. And, though foot traffic fell off last June as compared to May, this year it has increased nicely.
On the local front, below is a graphic showing pending sales in Anne Arundel County over the past two years. You can see the increase in March, April, May and June 2015 from last year.
You can also take a look at closed sales over the past two years in the county.
The housing market should remain strong throughout the summer and into the fall, making for one of the best years in real estate over the last decade.
If you want specifics about your local real estate market, or would like to discuss selling or buying a home, contact us at 443-691-0838 or firstname.lastname@example.org. You can also schedule an appointment with us online.
Walk into 65 Harbour Heights Drive in Annapolis and feel like you are walking into your next home.
That is how the current homeowner felt when she originally purchased the townhome, which is located in a great location for easy access to downtown Annapolis. She was looking for her first home while she was working in downtown Baltimore, and she knew she didn’t want to maintain a large property. In fact, she still has never mowed a lawn to this day! She looked at a bunch of properties with her buyer’s agent, David Orso, and kept coming back to 65 Harbour Heights. Not only did she feel drawn to the home, but the easy access to I-97 and the Baltimore Beltway/295 was a plus.
“Because I loved the area growing up, I focused on Annapolis and its surrounding neighborhoods when I looked for my first home,” said the current homeowner. “Shortly after purchasing my home, I took a job in Washington, DC and found that my commute was still good. With route 50 less than a mile away, I was able to get to the DC Metro stop in no time. In 2011, I took a job in downtown Annapolis. I am so grateful that with all 3 of my post-college full-time jobs, I have had an easy commute to work, mostly thanks to the convenient location of my first home!”
The current homeowner has added several upgrades during the five years she has lived there, including granite countertops, upgraded flooring, new carpet and paint, upgraded lighting fixtures, and a new washer and dryer. She also replaced the brass door fixtures with nickel ones.
“Whenever I have friends or family over, I am always complimented on my home and the décor,” said the current homeowner. “It is clean and simple. My home also has plenty of closet/storage space.”
In addition to the convenience of the location, and the beautiful comforts within the home, the homeowners association and neighborhood has also provided a positive living experience.
“The homeowners' association does a great job with landscaping and keeping everything in the community looking fresh,” said the current homeowner. “All of the neighbors are very friendly and frequently invite each other over for dinner or cocktails. We all look out for each other – if you accidentally leave the lights on in your car at night, need someone to meet a contractor at your house, or just need someone to talk to – the Seabreeze neighbors are there to help. Plus, there is plenty of parking, so you never have to worry about not being able to find a spot.”
The location of the home allows for easy access to lots of shopping, dining, and entertainment options.
“The Annapolis Mall is walking distance (or seconds away in the car),” said the current homeowner. “The Towne Center, with upscale shopping and restaurants, is also just a few minutes down the road. On Fridays in the summer, the Towne Center hosts free concerts with complimentary food. These concerts, and other recurring events at the Towne Center have been one of my favorite activities to partake in. They are perfect for date night, but also kid-friendly. There is truly ‘something for everyone.’”
“Downtown Annapolis and the City Dock area are less than a 10-minute drive from the property. The cultural scene in Annapolis includes theater, a local symphony and opera, and dozens of art galleries. There are plenty of boutique shops and restaurants.”
While it is obvious that the current homeowner adored her home, community and location, she has found another love in her life and is getting married! She is selling her current home and looking to find a single-family home with her fiancé.
If you are interested in learning more about this home, please contact the listing agent, David Orso, at 443-691-0838 or email@example.com, or schedule a showing with our buyer's agent Melissa Blohm, 410-991-5967; firstname.lastname@example.org
The Millennial generation or Generation Y are those individuals who were born between 1981 and 1997 (Pew Research Center), though the timeframe differs depending on your source. The Millennials are projected to surpass the Baby Boom generation as the nation’s largest living generation this year, according to the population projections released by the U.S. Census Bureau. In the Baltimore Metro area, Millennials make up 13.8% of the total population (2010-2012), and 27.8% of people moving. This generation currently comprises the largest share of home buyers at 32 percent and it also makes up the largest share of first-time buyers at 68 percent, according to the National Association of REALTORS.
Given that, we thought you might like to know that a separate laundry room tops this generation’s most-wanted list for a home, according to a survey conducted by the National Association of Home Builders. This doesn’t mean that you need to call up a contractor to get one built, but if you plan to list your home, don’t forget to spruce up the laundry area. With some creative rearranging and staging, you can dress up a “washed-up” old laundry room into something that a buyer might consider an asset in the home.
Storage such as linen closets, a walk-in pantry, and garage storage also ranked high in the survey, along with energy efficient features.
Contact me today at 443-691-0838 or email@example.com if you are thinking of selling your home.
Nearly every day, I am asked about the accuracy of the square feet in a listing. Our area puts very little (if any) stock into the square feet of a home and this is a difficult concept for many consumers to understand. Let me explain a couple factors:
The Listing Agent does NOT calculate the square footage of a home
Very often I will hear buyers say things like, “the agent lied about the square footage in the listing.” It is natural to assume the listing agent must have measured the whole house and then input the data into the multiple listing service but that is 100% erroneous. Square foot measurements are derived from the tax database NOT the agent.
Other factors are more important in our local market
Our area is not like certain parts of the country where square feet is a commonly used metric for pricing. We have too many mitigating factors that determine value such as: amenities, water access, schools, proximity to Baltimore/Washington, age of home, updates, lot size, number of bedrooms/baths, etc. In regions where housing is homogenous then this may be a viable calculation, but not around here.
Excess square footage doesn’t matter
Typically a homeowner that has done an addition or has a large home is anxious to tell me to make sure to add those “feet” to the listing. Latent to this statement is a belief that more square feet equal a bigger sales price……FALSE. Buyers select homes in terrific condition, a great location and appropriately priced, first and foremost.
Curb appeal and staging were rated as the top two most valuable projects for home improvement, according to an April 2014 Zillow Digs® survey. The survey polled real estate agents and interior designers nationwide and they agreed that minor improvements like landscaping and painting the walls in neutral colors save money and attract buyers faster. Money is better spent on improvements that bring the home up to current market standards and appeal to the broadest number of potential buyers than on major renovations prior to listing the home. The survey revealed that the top 5 projects for home sellers are: curb appeal; staging; small projects like updating lighting fixtures and cabinet door handles; decluttering; and adding granite countertops and stainless steel appliances. When I list homes, I recommend staging to my seller clients and offer it as part of my service. I want your home to be showcased in its best light and that takes professional staging, professional photography, and a professional real estate agent. A home stager identifies ways to highlight your home’s best features so that it can appeal to the broadest and largest number of potential buyers possible. Home staging isn’t just for the interior of your home. My stager also provides recommendations to enhance the curb appeal. Below are a before and after photo to show you the difference staging can make in a space.
If you are looking to sell your home, contact me at 443-691-0838 and we can discuss how to make sure your home looks its best so you can get top dollar in the shortest amount of time possible.