What Should You Ask When Interviewing a Realtor in Maryland?

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 Today's topic is an important one if you plan on buying or selling in the Maryland area anytime soon. How can you determine whether a Realtor is any good? It's a great question that we'll try to answer here today. Here are the top 10 questions to ask to ensure you're getting what you deserve:

1. How long have you been a Realtor? Real estate isn't easy - you need to work with someone who has worked in the good times as well as the bad, so they know how to navigate the waters of any given situation. 
2. Are You Full Time? This job is hard to do on a part-time basis.
3. What areas do you cover? You want to ensure your agent is familiar with your area and your community.
4. How many homes did you sell last year? I mean YOU, not your brokerage!
5. What is your list-to-sell ratio vs. the county average? This will tell you how well your agent knows the market and how to price homes effectively.
6. How long on average does it take you to sell a home vs. the county? This number will also tell you whether they know how to price listings, as well as whether they will be able to sell your home in the amount of time you're looking for.
7. Why should I hire you? Hopefully the agent has given this some thought and can tell you what makes them unique. 
8. What is your marketing strategy? At the end of the day, you need to feel comfortable that the agent's marketing plan is going  to get your home sold. 
9. Are you a solo agent or do you work on a team? What is your responsibility, and what is your team's responsibility? If your agent is working alone, find out how much business they are doing and whether they can juggle the many different aspects of the process effectively. 
10. Can you give me some examples of your problem-solving ability? This will be a good one because it is going to catch the Realtor by surprise, and you can watch them problem-solve on the spot!

Outside of asking your Realtor questions up front, you can always Google them to see if they have a strong online presence. Their testimonials and reviews will tell you a lot about the agent! Bottom line: make sure you do your due diligence before hiring an agent! 

If you have questions about how we can help, give us a call or shoot us a quick email at any time, we would love to hear from you!

What's the Secret to a Successful New Construction Purchase in Maryland?

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If you're buying a new home, do you need to hire a Realtor? This is a great question, and one we get often, so today we'll answer it once and for all.

The truth is, when buying new construction, it is crucial you hire a real estate professional to represent you and protect your interests. When you go into a new construction property, the person you meet on-site is there to represent the builder, not you - the buyer. They are there to ensure the process goes smoothly, but they are not there to ensure all your needs are met. 

If you plan on buying new construction, we highly recommend hiring an agent who has a lot of experience in new construction properties. They will know the right questions to ask: What will the finished product look like? What kind of things will go into the home? What is the quality of the construction? An experienced agent knows how the builder should answer these and other questions. 

Experienced agents know what is customary, what most builders ask for throughout the process. Because of this, your agent will be able to spot a dishonest or inept builder before you get too far into the process.

Agents also know how to negotiate on your behalf. They know that there are certain things that builders may be willing to give and are able to navigate through that. If any problems arise with a builder, an experienced agent is able to offer solutions. When things get a little rocky, a great agent will serve as a liaison between the builder and the financing partners to ensure you get into the home and are protected! 

These are just a few of the many reasons not to go into new construction without an experienced real estate professional by your side. If you have questions about the process, or if you would like real estate assistance of any kind, don't hesitate to reach out to us. We would love to give you a hand in any way possible!

Anne Arundel County, MD market update – 2013, what to expect in 2014, and how to save $30k or more

There are many great Anne Arundel County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (410) 320-6551 for a FREE home buying or selling consultation to answer any of your real estate questions.

Last year we saw an unprecedented growth in our marketplace with a relatively huge surge across the board. Overall, average sales prices and year over year prices jumped 8.61% in December. The average sales price for detached homes went up during the same time period a very significant 10.13% and for town-homes the statistic was 4.85%. In terms of the number of Days on Market, we saw a change of 13.5% - a very significant change.

More Change Expected in the Coming Months and Year

Here in 2014 we can speculate as to what to expect moving forward based on what we have seen in the past several months. Inventory is starting to indicate a turn in season, typical of this time of year. But one of the biggest driving factors is the likely change to interest rates.

Home Buyers Can Expect to Save $30k or More

A highlight of this year will likely be the rising rates, expected to jump, but without the certainty of how much. The example we use is of a $300,000 home. Assuming the interest rate of 4.25%: the payment on said home would be $1,488.50 a month for a 30-year fixed rate loan. If you were to increase the loan amount by just a half percent, the payment would jump to $1,576, marking an increase of $88 per month. This may not seem very much but over time it adds up very quickly. In fact,  that small percentage increase amounts to a very large extra expense of $31,680 for the life of the loan!

What this means to you is this – if you are considering buying a home or investing in a property anytime soon or even in the near future – now is definitely the time to do it. Rates are still at historic lows, and before they do get up there, we encourage exploring the market for your next property!

Call or email us today!

443-270-5093

diane@tdgomves.com