Are you looking to buy a house for less or sell a house for less? Interested in pocket listings, off-market listings, private exclusive listings, properties that are not in MLS? Do you want to sell your house the best way? Perhaps you have seen more creative real estate ads lately. Competition is fierce. And new guidelines mean that marketing strategies are changing. What worked yesterday may not work today, and what works today may not work tomorrow. Michele Lerner recently wrote in the Washington Post article “‘Pocket listings,’ those secretive, off-market offerings of homes for sale, to disappear in the D.C. area”: If you’ve ever been the recipient of an email blast from a real estate agent with photos, prices and information on “private exclusive listings,” you may have felt privileged. But for other real estate agents and buyers, the practice of pocket listings, also known as office exclusive listings or off-MLS (multiple listing service) listings, is frustrating. Now that practice in the Washington area may be coming to an end. It’s a hot debate about eliminating “pocket listings” and making all information available to home buyers. At the same time, sellers want things done their way, at their convenience, and to their advantage. Obviously, different people have different interests, and the landscape is changing. Be sure to plan well in advance for your next move. To get the best outcome, find out about the latest market changes, and act accordingly. Talk to me early! What’s your dream home? My systems for buying and selling homes are constantly being updated to provide the best client service possible. Do you want to: * Keep the most money in your pocket? * Make showings as easy as possible? * Coordinate the timing of your buying and selling to make your move as smooth as possible? When you are ready, let’s discuss these and other goals, and map out a path that works for you. |
Annapolis Water-Privileged Condo Just Listed and More Real Estate News
Happy Spring! I’m so glad it is finally here. I am SO ready for more warmth and sunshine.
It’s a time for new beginnings, growth, change, and Spring cleaning! Have you watched Marie Kondo’s show on Netflix, or read her book, The Life-Changing Magic of Tidying Up? It’s inspiring, and… I have my work cut out for me. It’s easier to watch the book and the shows than to sort through the clutter, that’s for sure! And, as I go outside more, in the warm weather, and look around, I see even more projects.
Are you inspired to make changes at home? If you need any contractor referrals, let me know. And if you have a contractor that you love, please share that with me, as I can introduce them to some of my awesome clients and friends like you, and help everyone.
Who do you know whose housing needs have changed? Who may want a larger or smaller place, or a different location? Please share this email with anyone who comes to mind.
Homebuyer attitudes have improved, according to Mortgage News Daily, “Homebuying Attitude Perked Up in Q1.” That’s consistent what I’m seeing on the street, as people are coming to open houses, shopping with their agents (or without), and making offers.
Are you in your “forever home?” If not, we have homes of all kinds! It’s a great time to move, and either rent or sell the current place! What would your dream home be like?
Call me today for your Annapolis real estate needs, or for an introduction to a great real estate agent anywhere.
Carlyn Lowery, Associate Broker, eXp Realty, Annapolis Real Estate, Annapolis Waterfront Homes, Annapolis Luxury Homes, Anne Arundel County, Maryland, 443-569-3977 or 888-860-7369 x146
Have you considered “gifting” your home away?
Annapolis, Maryland – Passing along a property to a loved one as part of your estate planning is an invaluable gift. That said, in order to avoid being taxed unnecessarily, you want to consider what’s known as a “QPRT” or Qualified Personal Residence Trust. Real estate values in the Annapolis area have come way down since the real estate recession in 2010 and combined with this trust, lower property values could save you significant money on gift and estate taxes.
QPRTs offer the opportunity for people to move a home out of their estate, while still allowing them to live in it for a time. This arrangement is ideal for a parent gifting a property to their child, and timing could not be better to consider this, as you would be removing the home from your estate at a time when property values are low. You will not pay estate taxes on it, and down the road you and yours will enjoy the benefits when its value increases, instead of paying a giant estate tax bill on a home that has increased in value over the same time period. In other words, you are guaranteeing yourself a lower gift-tax amount.
Here’s what happens: You move the asset out of your estate and put it into a QPRT for say, ten years. Those ten years can be spent living in the home exactly as you always have. You will file a gift-tax return the first year, which through a very intricate IRS formula could even prove to be profitable from a discount. After ten years has passed, the home transfers to your children or beneficiaries, and they legally own the home, meaning it will not be subject to estate taxes! Do note however, that if your desire is to continue living in your Annapolis home after this period you must pay your beneficiaries fair-market rent, or risk trouble with the IRS. In the event of your death, your beneficiaries would not have to pay inheritance taxes on the home. This is a great option for many Maryland home owners. It may be something to consider for your Annapolis home!
I came across a good article on QPRTs from the Bank of New York website which can be read here: http://www.bnymellonwealthmanagement.com/Resources/documents/PerspectivesDocs/QPRT_Residence.pdf
With a broad background and strong record of success, Carlyn brings extraordinary skills and talents to her real estate clients in Annapolis and Anne Arundel County. Having owned rental properties, Carlyn has the skills and experience to help her clients build and manage their own profitable and secure rental portfolios, and cash them out when the time is right.
Carlyn comes from a tradition of service, is ready to serve, and she especially enjoys working with current and prior service members. Having spent over ten years building software companies, Carlyn enjoys working with successful business people, entrepreneurs, and the self-employed. She uses her high-tech expertise and financial knowledge to sell their houses effectively and for a higher price, and to find them the homes they want, while saving them time and money.
She has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors®. Carlyn has earned lifetime membership in the Distinguished Sales Achievement Club, membership in The Masters Club, and designation as a Certified Luxury Home Marketing Specialist and Million Dollar Guild Member. For inquiries you can contact her direct at 443-569-3977 or by email at Carlyn@LoweryHomeTeam.com
Before listing your Annapolis home, take a look at these tips for a successful Open House!
Annapolis, Maryland – Even in this day and age of marketing your home on the Internet, there is occasionally some value remaining in holding a basic open house, but often not in the traditional manner you may think. There are many ways to make your open house a success, but first and foremost, let’s talk about some of the different types of open house events available in Annapolis.
First, you have the traditional open house, where, regardless of when a home came on the market, you announce that on a particular day, it will be “open” for tours without an appointment, during a particular time period.
Next, is what I call a “pseudo-open-house.” In this type, it is merely a virtual open house, meaning that it is available for agents to show to their Buyers, without a predefined appointment, during a particular time frame, but all Buyers need to make an appointment through their agent.
Lastly, is a Brokers open house, usually held on a weekday. For this, agents are invited to preview the property during a time frame, occasionally with the listing agent providing a luncheon, and without Buyers coming along.
Regardless of which type we do, I need to work hard, as your agent, to get the news of your open house out ahead of time. I have a host of different means for doing this, from inter-office emails, to social media, direct mail, and even the age-old method of getting on the phone and calling people to invite them personally.
Of course the most important aspect of your Open House lies in properly preparing the home, as this is an opportunity to make a first impression on prospective buyers. They may be indifferent to the properties they are viewing based on the online description, so take this opportunity to show them why they will love your home!
Some feel that by getting some immediate feedback from a wide array of Buyers and Agents, we will come up with a few ways to improve your listing, and make it more saleable. With many agents, that is most certainly the case. Personally, I feel that after having been through this process as many times as I have, I have a really great eye towards home staging and preparation – enough so that by the time that first Buyer crosses the threshold, we’ve already taken care of anything that they could have commented on.
Of course, I do tend to learn something new from time to time, and that’s why when it comes to the sale of your Annapolis home, we can’t leave a single stone unturned.
With a broad background and strong record of success, Carlyn brings extraordinary skills and talents to her real estate clients in Annapolis and Anne Arundel County. Having owned rental properties, Carlyn has the skills and experience to help her clients build and manage their own profitable and secure rental portfolios, and cash them out when the time is right.
Carlyn comes from a tradition of service, is ready to serve, and she especially enjoys working with current and prior service members. Having spent over ten years building software companies, Carlyn enjoys working with successful business people, entrepreneurs, and the self-employed. She uses her high-tech expertise and financial knowledge to sell their houses effectively and for a higher price, and to find them the homes they want, while saving them time and money.
She has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors®. Carlyn has earned lifetime membership in the Distinguished Sales Achievement Club, membership in The Masters Club, and designation as a Certified Luxury Home Marketing Specialist and Million Dollar Guild Member. For inquiries you can contact her direct at 443-569-3977 or by email at Carlyn@LoweryHomeTeam.com
Have you ever pondered what the Average Life Expectancy is for your Appliances and other Home Systems?
Annapolis, Maryland – Having worked with thousands of Buyers and Sellers here in the Annapolis Real Estate market, I know first hand that many first-time home buyers are so excited to realize their dreams of home ownership that they often overlook the many small details of owning their home. These details can at times be costly, especially if you have not familiarized yourself with all of the things in your home that will need replacing at some point. The following is an estimated guide of how many years each appliance or home system will perform for you in your home.
Roofs: Selvage or Asphalt Roll last 12 to 20 years, Wood Shake and Shingle last 15 to 20 years, Asphalt lasts 15 to 20 years, Fiberglass lasts 15 to 20 years, Asbestos Shingle lasts 30 to 50 years and Slate lasts an amazing 40 to 75 years.
Plumbing: Gas Hot Water Heaters last 8 to 12 years, Electric Hot Water Heaters last 10 to 15 years, Private disposal systems such as Septic Tanks last from 15 to 25 years and Galvanized Water Pipes last 30 to 50 years.
Heating and Air Conditioning: Warm Air Furnaces last 8 to 12 years, Heat Pumps last 8 to 12 years, Air Conditioning Compressors last 8 to 15 years, Gas Chillers last 8 to 15 years and Hot Water Boilers last 30 to 50 years.
Gutters and Downspouts: Galvanized Gutters and Downspouts last 15 to 20 years, while Copper Gutters and Downspouts will last a lifetime, provided that the home is well-maintained.
Appliances: Dishwashers can last anywhere from 5 to 12 years, Disposals last 5 to 12 years, Washers and Dryers last 8 to 12 years, Water Heaters last 8 to 12 years, Refrigerators last between 15 to 20 years and finally, Stoves can last anywhere from between 15 to 20 years.
Of course, when any of these systems are well constructed you may expect that they could last a long time, closer to the upper end of these estimates. Make sure to take a close look at the construction of these systems when we are viewing potential future homes for you to purchase here in Annapolis, Maryland.
With a broad background and strong record of success, Carlyn brings extraordinary skills and talents to her real estate clients in Annapolis and Anne Arundel County. Having owned rental properties, Carlyn has the skills and experience to help her clients build and manage their own profitable and secure rental portfolios, and cash them out when the time is right.
Carlyn comes from a tradition of service, is ready to serve, and she especially enjoys working with current and prior service members. Having spent over ten years building software companies, Carlyn enjoys working with successful business people, entrepreneurs, and the self-employed. She uses her high-tech expertise and financial knowledge to sell their houses effectively and for a higher price, and to find them the homes they want, while saving them time and money.
She has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors®. Carlyn has earned lifetime membership in the Distinguished Sales Achievement Club, membership in The Masters Club, and designation as a Certified Luxury Home Marketing Specialist and Million Dollar Guild Member. For inquiries you can contact her direct at 443-569-3977 or by email at Carlyn@LoweryHomeTeam.com