Friday, May 27, 2011

Energy Efficiency and Green Features in Homes

I'm going to toot my own horn this time because I am very proud of this designation. I have joined the movement of professionals pushing the real estate market toward energy-efficient, sustainable, and healthier features in homes and buildings. With national surveys indicating that 9 out of 10 consumers consider energy efficiency and the environmentally sound aspects of a home to be almost as important as interior finishes, Certified Eco-Brokers are simply in a better position to serve the savvy green-minded real estate consumer.

Please take time to read my article and keep me in mind to help you purchase a more energy-efficient home or market your home as such.

My name is Lisa Longest and I work for Exit Gold Realty. I specialize in Stevensville Md and surrounding cities. Feel free to contact me at 443-786-4200 or email me at lisalongest@exitgoldrealty.com

Wednesday, May 25, 2011

Avoid 3 Common Remodeling Mistakes

The road to bad remodeling is paved with good intentions. Anyone tackling a major project wants his home to look and work better--and to get a reasonable return on investment. But renovations are packed with so much stress and emotion that it's easy to go wrong.

With that said, let's learn how to keep from falling into these 3 common mistakes.

1. Being a slave to fashion: The more up-to-the-minute your project is today, the more out-of-date it will seem in 5-10 years. So, go with classic choices that match the house's original style.

2. Skimping on the design: Make sure your renovation project is well thought out. If you are doing, let's say, building an addition or moving interior walls, spend the $1000-$5000 to hire an architect (to draw a plan, not project manager)

3. Over-investing in the kitchen: Yes, great kitchens sells houses! But there is a limit to what you can recoup for granite countertops and commercial-grade appliances. Kitchens represents anywhere from 5%-15% of a home's value, so limit your kitchen renovation budget to that range.

So, go ahead with your well prepared plans of renovating. Count your costs and have a blast.

My name is Lisa Longest and I work for Exit Gold Realty. I specialize in Stevensville, Md and surrounding cities. Feel free to contact me at 443-786-4200 or email me at lisalongest@exitgoldrealty.com

Tuesday, May 17, 2011

Housing Inventory in Queen Anne County-Stevensville MD

So you have a house on the market in Queen Anne County on the beautiful Eastern Shore of Maryland and can't figure out why it's not selling. Well, there really could be a variety of reasons, however, I am going to discuss just one possible reason: INVENTORY!

The absorption rate of your area is very important to know when pricing your home to sell it. If you really want to sell to move on, you may consider the absorption rate before considering market value. You may want to consider a selling price based on the absorption rate.

Not sure what the absorption rate is? I will tell you. It is an estimate of the rate at which a particular classification of properties for sale can be successfully marketed in a given area. An absorption rate must be developed to analyze supply and demand.

Let me give you an example:

This is a current example:

Active Listings in Queen Anne County: 707

Now divide the active listings with what has SOLD:

In the last 6 months: 189 = 3+ Months

In the last 3 months: 106 = 6+ Months

In the last month: 37 = 19+ Months

Now you know how much inventory is currently on the market as of this past month in Queen Anne's County....over 1 1/2 yrs. This is what you are competing against. And this statistic is constantly changing as properties are listed or sold. So, this makes it imperative, as an agent, to keep your clients informed.

Now you just found out how to decide whose market it is:

* Sellers' market conditions-Absorption rate is 1-4 months.
* Normal market conditions-5-6 months.
* Buyers' market conditions-7+ months

Has your agent gone over this bit of information with you? I hope so. If not, ask them to. This example is a generalized absorption rate. Perhaps you want one done with specific data that corresponds to your particular market.

My name is Lisa Longest and I work for Exit Gold Realty. I specialize in Stevensville Md and surrounding cities. Feel free to contact me at 443-786-4200 or email me at lisalongest@exitgoldrealty.com