Carlyn Lowery, Associate Broker, Lowery Home Team at eXp Realty, Annapolis and Anne Arundel County MD Real Estate

Free Property Management, Especially Valuable for People Stuck with Double Mortgage Payments

In today’s real estate market, more and more “accidental landlords” are emerging, as people end up with vacant homes that they can’t sell for the prices they want. Sometimes people try for months and months to get the homes sold, leaving them vacant and often with insurance lapsing, and other times they choose to rent them out.

Always looking to learn more about property management, and also looking for books to recommend to friends and clients, I just picked up a copy of The ABC’s of Property Management, by Ken McElroy.

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If there were ever a book to convince you not to try to manage an extra home yourself, this is it! Full of stories of things that happen to people when they haven’t mastered the business of property management.

I discovered long ago that property management works fine if you treat it like the business that it is, but not so well if you treat it like a hobby or an afterthought. (Yes, I learned that the hard way.) Here are some handy references for those who choose to do it themselves.

[tomatoframe width=”120″ height=”240″]http://rcm.amazon.com/e/cm?t=koalaconcepts-20&o=1&p=8&l=as1&asins=0932956300&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr[/tomatoframe]

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And if you do it yourself, be sure to learn the Maryland state laws, as well as those of the county and city where your property is located.

Of course, it often pays to bring on a specialist. For those who’d like to team up with a professional property manager, I can make some recommendations in the Annapolis area. You need to be prepared to compensate them somehow, typically by paying a percentage of the rent.  Sometimes you can negotiate a guaranteed rental payment, regardless of vacancy.

Oh, you want to know how to get it free? Some will do it for a portion of the future increase in your property’s value. Let me know if you’d like further details.

P.S.  Call me today for all your Annapolis real estate needs.

Wanted: Homes for Sale in Annapolis and Anne Arundel County – Sales Up, Inventory Down

Homes for sale are needed in Annapolis and Anne Arundel County.

Carlyn Lowery Sold Another Home

Carlyn Lowery Sold Another Home

Home sales in Anne Arundel County were up a staggering 44% in October 2009 as compared to October 2008. And inventory was down 11%, to 3906 homes at the end of October 2009 as compared to 4357 at the end of October 2008.

And now, tax incentives for first-time home buyers have been expanded and extended until the Spring, which will increase demand. Interest rates are low, with safe 30-year-fixed rate loans available below 5% with no points.

Many people who would like to move are not sure if it is time to put their property on the market, as they are hearing mixed reports. With all the news about the tough economy, and credit being hard to get, people sometimes get the impression that houses are not selling.

Houses ARE selling, and only those that are on the market have the chance to sell. For those who are thinking about making a move, opportunity is knocking.

More on this topic:
Homebuyer Tax Credit Extended and Expanded, A Gift for Annapolis Real Estate Buyers
Annapolis Real Estate Market Statistics November 2009

P.S. Call me today for all your Annapolis real estate needs.

Homebuyer Tax Credit Extended and Expanded, A Gift for Annapolis Real Estate Buyers

More gifts from the federal government for homebuyers!  New legislation signed by the President last Friday:

Cash Gift from the Federal Government

Cash Gift from the Federal Government

* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010, and

* Expands the credit to grant up to $6,500 credit to current home owners purchasing a principal residence between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Plus,  members of the armed services, as well as intelligence service and foreign service personnel, get extra benefits!  Those who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 2011.

Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years, or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.

More on this topic:
The Basics: Extended Home Buyer Tax Credit 2009/2010
Time is Running Out for $8000 Gift from the Federal Government

$8000 Bailout Gift for Your Friends

P.S. Call me today for all your Annapolis real estate needs.

Annapolis Real Estate Market Statistics November 2009

Existing Home Sales are at their highest levels in over 2 years, according to an October report published by the National Association of REALTORS (NAR). Fueled by increased activity among first time home buyers, the existing housing market has shown gains in five of the last six months. Based on the recent 9.4 percent increase from August to September, NAR is predicting annual sales volume of 5.57 million units for 2009, up from the earlier prediction of 5.10 million units.

Existing Home Sales By Region

Buyers are taking advantage of low interest rates and a first time buyers tax credit available through the end of November. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” said Lawrence Yun, NAR chief economist.

Total housing inventory is trending down across the country, reaching its lowest level in two and a half years. Inventory fell to 3.6 million homes available for sale at the end of September. This represents a 7.8 month supply at our current sales pace. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year,” Yun said.

Anne Arundel County figures for October 2009 are shown below.

2009

2008

% Change

Total Sold Dollar Volume:

 $ 175,680,472 $ 132,330,760 32.76 %
Average Sold Price: $ 349,961 $ 380,261 – 7.97 %

Median Sold Price:

 $ 285,000 $ 320,000 – 10.94 %

Total Units Sold:

 502 348 44.25 %


Average Days on Market:

 130 152 – 14.47 %

Average List Price for Solds:

 $ 388,439 $ 426,461 – 8.92 %


Avg Sale Price as a

percentage of Avg List Price:

 90.09 % 89.17 %
Total Number of NEW listings
taken for the month: 776
Total Number of Properties

marked Contract for the month:

367
Total Number of Properties
marked Contingent for the month: 211
Total
Number of NEW pendings
(CONTRACTS + CONTINGENTS): 578

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data

Copyright 2009
– Information deemed reliable, but is not guaranteed.

P.S. Call me today for all your Annapolis real estate needs.

Annapolis Real Estate Market Statistics November 2009

Existing Home Sales are at their highest levels in over 2 years, according to an October report published by the National Association of REALTORS (NAR). Fueled by increased activity among first time home buyers, the existing housing market has shown gains in five of the last six months. Based on the recent 9.4 percent increase from August to September, NAR is predicting annual sales volume of 5.57 million units for 2009, up from the earlier prediction of 5.10 million units.

Existing Home Sales By Region

Buyers are taking advantage of low interest rates and a first time buyers tax credit available through the end of November. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” said Lawrence Yun, NAR chief economist.

Total housing inventory is trending down across the country, reaching its lowest level in two and a half years. Inventory fell to 3.6 million homes available for sale at the end of September. This represents a 7.8 month supply at our current sales pace. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year,” Yun said.

Anne Arundel County figures for October 2009 are shown below.

2009

2008

% Change

Total Sold Dollar Volume:

 $ 175,680,472 $ 132,330,760 32.76 %
Average Sold Price: $ 349,961 $ 380,261 – 7.97 %

Median Sold Price:

 $ 285,000 $ 320,000 – 10.94 %

Total Units Sold:

 502 348 44.25 %


Average Days on Market:

 130 152 – 14.47 %

Average List Price for Solds:

 $ 388,439 $ 426,461 – 8.92 %


Avg Sale Price as a

percentage of Avg List Price:

 90.09 % 89.17 %
Total Number of NEW listings
taken for the month: 776
Total Number of Properties

marked Contract for the month:

367
Total Number of Properties
marked Contingent for the month: 211
Total
Number of NEW pendings
(CONTRACTS + CONTINGENTS): 578

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data

Copyright 2009
– Information deemed reliable, but is not guaranteed.

P.S. Call me today for all your Annapolis real estate needs.

Here are some client reviews of Carlyn Lowery…

“Carlyn got us a quick sale above the asking price. She qualified prospects well, used a professional photographer for advertising photos, and provided expert advice during negotiations. Carlyn is what other Realtors aspire to be!”
– Paul Donnelly

“As first time home buyers, Carlyn Lowery was very attentive to our basic needs of walking us through each step of the home buying process from a novice standpoint. The long detailed list of items due at specific times from the start of the contract all the way through to the week of closing was greatly appreciated. It was great having an agent who took the time to clearly lay this all out for us. End result – a very smooth time at settlement. No surprises!”
– Ann Hannam

“We wanted a professional who would work with us to sell our home
quickly for a good price and protect our interests as sellers through the process.
Carlyn’s business acumen is her (and will be your) greatest asset.”
– Sue Bogard

“Carlyn was wonderful. She was organized, prepared, and knew the steps to take to sell our home quickly and used a wide array of marketing to get the job done. She gave great advice
during each of the phases, and in particular on the negotiation.”
– Michael Morgan

 

Questions? Call Carlyn Lowery today.

443-569-3977 – Direct
888-860-7369 x146 – Main Office
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