Unfortunately, that sort of approach makes it difficult for your home to been seen by potential buyers.  The more marketing you agent does, the better chance it has of selling, right?  Every bit of exposure is one step closer to finding the buyer for your home!

Here’s an example of some of the things we do to get our homes sold quickly:

Professional photography
No point-and-shoot cameras, we hire professionals to take gorgeous hi-res HD shots of our homes!  Better photos increase the chance of people taking a closer look at your home when they see it online!

Online Video Marketing
“virtual tours” are dead.  People want to see something more engaging, and video is it!  We take video tours, combine them with high resolution photos, and add text descriptions to generate buzz and give people more incentive to call their agent and make an appointment to see your home!  Here’s an Example:

[youtube=http://www.youtube.com/watch?v=ZtNPLcwBaho]

Listing Syndication and Featured Advertising
Most Realtors don’t “Get It” when it comes to online marketing. the MLS isn’t enough!  We syndicate our listings to over 45+ websites and pay for tons of Featured ads to get you seen first!  If there are 50 homes comparable to yours on the market, our job is to make sure that your home is on the top of their list when people are searching the internet.

Aggressive Direct Marketing
This includes open houses, direct mailers, flyers, signs, trade shows, home book advertisments, fairs, blogging, direct email marketing and more all designed to get YOUR HOUSE sold!  Direct Marketing has long been the staple of real estate advertising.  It still gets business done, but not as efficently as it once did.

If you’re thinking about putting your house on the market, give us a call for a free Comparative Market Analysis (CMA) and a demonstration of how our marketing strategy will get your home sold quickly!

~Jonathan Benya- Realtor
301-653-8116

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

Is the Real Estate Market in Charles County and Waldorf finally turning around?

It’s been a long time since we saw good news in the real estate market.  In the last few years we’ve seen that home values have dropped, sales slowed to a near standstill, and foreclosure rates skyrocketed.  The good news is that national sales trends have picked up recently, and it looks like we may have finally hit the bottom of the real estate market downturn.  According to a report released on August 26th, 2009, new home sales are up 9.6% in July, and up 30% from the beginning of the year.  All of that is fine and well, but what about the local market?

The best way to look at sales trends is at the local level! If we take a look at current sales in Carrington, we can see that as of August 26th, there are 60 homes currently for sale.  of those 60, 21 are under contract!!  The national average for inventory volume is between 5-6 months, but the inventory volume for Carrington is just under 3 months!  This is excellent news for homeowners in the neighborhood!

It’s great to see sales up, but what about prices? Unfortunately, you’re not going to find that prices have risen back to the levels we saw 5 years ago.  Listing prices for homes that are UNDER CONTRACT range from a high of $299,900 to a low of $139,999.

Homes that are currently active on the market range in price from $299,995 to $145,900.  A quick look at recent sales shows a range in value from $279,000 to $126,500.  Want to know how your home compares?  Give me a call at (301)-653-8116 and request a free Market Analysis for your home!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment, provided you are using personal funds for the first 3.5% of the downpayment.

Donovan’s statement came in an address to several thousand Realtors® gathered at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo in Washington D.C.

If you’ve been looking at buying your first home, but the down-payment requirements have kept you from doing so, then this might be your chance to take advantage of a fantastic change in FHA policy.  Feel free to give me a call to find out more information or ask questions about how to take advantage of this program!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

The concept has been around for quite some time, but nothing final has been decided.  What do you guys think of the idea?  Personally, I’d love to see anything that would ease the congestion on 301, especially during rush hour!

Video Link

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

Charles County Real Estate Blog
SOMD Home Search
Southern Maryland Custom Homes & Land

Fortunately, I took it all in good stride. I hate having people force decisions down my throat, and I don’t ever want to be “That Realtor Guy” who pushed someone into buying a home they didn’t love; especially when that someone is a friend of 14+ years!

With the current economic downturn and low interest rates guiding us, we finally found a fantastic option! We had been looking at every foreclosure and short sale imaginable, but in the end we actually decided on new construction!

This is her first home, and she’s excited that the idea of being a homeowner will soon be a reality! I’m excited that she’s decided to purchase without being pressured into something she doesn’t love, and here’s the best part!

Guess how much her townhouse is going to cost:

1. $275,000?
2. $260,000?
3. $250,000?
4. $240,000?

Would you believe me if I said that it was less?

I can’t disclose how much our contract for these new construction townhouses is for due to client confidentiality, but here’s what I can tell you:

For a 3 bedroom, 2 bath, 3 story Townhouse with brick front and a 1 car garage, prices are starting at $230,000!!! for that price we’ve been looking at foreclosures in need of serious repair! Less than $250k can get you brand new construction in Waldorf, complete with your own garage!

I know I’ve got other clients who are now looking at buying a new townhouse rather than struggle with foreclosures that “need work” (“needs work” is a polite way for Realtors to say “prepare to hire a general contractor”!)

If you’re looking for new construction in the Waldorf or Charles County are, give me a call and I can help you find and negotiate great deals on your new home!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-653-8116
Charles County Real Estate Blog

What’s really surprising is that many people aren’t looking for what really matters when it comes to hiring an agent.  People look at the bottom line.  Money.  Cash.  How much are you going to put in my pocket?  Quite often, the agent with the highest bottom line wins!

This method of thinking is the WORST WAY TO PICK A REALTOR!!!

Here’s why:

1) An agent’s job is to market your home, not set the price.  Their CMA is only a recommendation of price, and you have the right to have your agent list your home at whatever price you see fit.

2) If you interview three agents, and one places a higher value on your home than the others, you need to wonder why.  Are the other two agents undervaluing your home?  Are they using the same comps?  Or is the agent with the higher estimate OVER-valuing your home in order to get your business?

3) You need to give your home the best possible chance to sell.  This doesn’t mean choosing the Realtor with the highest or lowest estimate.  It means choosing the Realtor with the best marketing plan.  You can always negotiate fees, listing prices, etc.; but you can’t make a mediocre marketer great.

When it comes to that CMA, take the advice you get from all the Realtors you interview and use that to set the price. DO NOT use it to choose the Realtor you hire.

A higher price evaluation is no measure of competency or ability as an agent.  I’ll do a post tomorrow on the qualities to look for in a great listing agent, and keep your eye out for a post later this week on the biggest traps to avoid when choosing an agent!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Southern Maryland Real Estate Blog

This does NOT mean that you should skip the home inspection!  Quite the contrary, if you’re trying to buy a primary residence, the inspection is absolutely crucial!

Don’t believe me?  Well, would you buy a car without knowing it runs?  Buying a home without an inspection is the same concept.  Does the furnace still work?  Have the pipes burst?  Have termites eaten through the walls?  You just don’t know without that inspection!  I can see the marketing slogan now:

Lovely home with rustic living (furnace is shot, bring blankets), In-ground pool possible (Basement is flooded), and lots of natural light (Termites were hungry)!

Danger Will Robinson, Danger!

All you wanted was a great deal, and instead you end up with a money pit.  While the inspection won’t fix the problems, you are saving yourself from possible FINANCIAL DISASTER by knowing what sort of problems (if any) may exist.  When it comes time to write a contract to purchase a foreclosure, bear this in mind:

1. The home is being sold as-is, and
2. The bank is not likely to do any repairs on the home, so….
3. The inspection is for “informational purposes only” (That’s Legalese for: Don’t even THINK of asking for repairs!)

If you want to keep yourself protected, make sure that any inspection being done for “informational purposes only” has a “walkaway” clause.  This means that if you find something wrong with the inspection that you don’t like, you can cancel the contract, get your deposit back, and find another property that suits you.

Banks are doing everything they can to relieve themselves of liability.  As a buyer, you need to make sure that you and your Realtor are keeping your financial interests protected!

Got questions about buying a foreclosure?  Give me a call!

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Southern Maryland Real Estate Blog

    In reality, it’s a bit more complex than that.  It seems that everybody wants a home that needs little to no work, and often those "as-is" properties seem to need something, but the seller isn’t interested in addressing those concerns.

Am I Allowed To Get an Inspection?

    Rule #5 of buying a home:  ALWAYS GET AN INSPECTION! "As-is" does not necessarily mean the house is in terrible shape, nor does it mean you cannot have the house inspected.  Think of it this way: 

What would happen if you bought a home "as-is", without inspection, and found out later all of the wiring was shoddy and the plumbing leaked throughout?  Now your walls, ceilings, and carpets are ruined because of the water damage and the house is a 3-alarm fire waiting to happen because of bad wiring.

    In Southern Maryland, you have the RIGHT to get a home inspected.  In fact, if you choose not to inspect, you should be required to sign a waiver stating that you had the option, and decided against hiring an inspector.  Why?  Because your agent needs to cover their you-know-what!

Will The Seller Make Repairs?

    Here’s a tricky situation, particularly in regards to foreclosures.  The short answer is: NO.   The more complicated response is that IF the situation is right, you might be able to get some work done by the bank, or perhaps get an escrow credit to pay for the work. 

    There are a lot of determining factors involved in getting that done, and you need to have a Realtor working on your side, representing your interests, who has experience in negotiating with bank owned properties.

How Do I Avoid Buying A Basketcase?

    First and foremost, make sure you have your own representation!  This means that your Realtor is working for YOU, not the owner!  You should have experts on your side who have seen the pitfalls and know exactly what to avoid and when they are looking at a great opportunity.  As a matter of fact, I happen to know a really great team of people…. (wink, wink )

    In all seriousness, it’s my opinion that ANYTHING is negotiable, even if the official line states "as-is"!  The  other key thing to bear in mind is that you should have the right to a home inspection, and by all means, make full use of your rights!

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St.
La Plata, MD 20646
301-653-8116
301-609-9000
http://www.teambenya.com

    The question seems to be which location is more affordable, among other things.  My instinct has always been the Waldorf is a little more affordable, but I’ve always assumed that from my "gut" rather than stats (I think it’s called the Steve Colbert approach to "facts").  Obviously that’s not enough to satisfy a serious query on the subject, so I pulled the sales figures for Waldorf and Upper Marlboro to compare.  Here’s what I have found: (all figures from MRIS.com)

From 6/1/2008-6/30/2008

Waldorf, 20601

    17 Homes Sold

    233 Active Listings

    Sold Ratio: 1:13.7

    Average Sold Price:  $294,494

    Median Sold Price:    $280,000

Waldorf 20602

    22 Homes Sold

    233 Active Listings

    Sold Ratio: 1:10.59

    Average Sold Price:    $253,954

    Median Sold Price:    $244,700

Upper Marlboro, 20772

    30 Homes Sold

    500 Active Listings

    Sold Ratio: 1:16.67

    Average Sold Price:    $314,256

    Median Sold Price:    $312,500

Upper Marlboro, 20774

    35 Homes Sold

    465 Active Listings

    Sold Ratio: 1:13.28

    Average Sold Price:    $282,814

    Median Sold Price:    $278,900

    This shows a couple of interesting details:

1. The average rate of sales is slightly better in Waldorf
2. This is likely due to the lower cost of homes in the 20602 Area Code
3. Although the 20774 Area Code is less expensive than the 20601 Area Code, It does not mean that Upper Marlboro is less Expensive than Waldorf, as noted by prices in the 20602 Area Code.

    Another potential means of comparison is through new construction.  If you were to look at a home built by Ryan Homes in the Brentwood Subdivision of Waldorf, MD.  You would find their base model starting at $320,000 (Was $330,000)  To have that exact model built in The Ridings at Upper Marlboro, it would be priced starting at $340,000.  The difference is less than 6%, but it IS a difference.

    Bear in mind this does not make Upper Marlboro or Waldorf "better" than the other.  Differences in commute times, amenities, and local features vary greatly.  Although there is a cost of living difference, I still think it comes down to a preference of location rather than price.

(Please note that the 20603 Area Code was not included because there was a spike in prices last month for some reason, and I am working to determine why this has occurred before I show abnormally skewed figures)

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St.
La Plata, MD 20646
301-653-8116
301-609-9000
http://www.teambenya.com

    If you’re looking for a foreclosure deal in Hyattsville, THIS IS IT!!!

5017 54th Pl. Hyattsville, MD

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com