Real Estate Information Archive

Buying a home is a big and lasting decision, just as selling a home is often a large part of a new stage in life. So the agent you choose to help you with the buying or selling of your home should be one who understands who you are, where you are in your home-ownership journey, and what you really need at this juncture.

Any agent can show you listings in your area, because every agent has access to the listings in the MLS, or Multiple Listing Service. In fact, in today’s Internet age, listings have become searchable by everyone. But choosing exclusive representation with an agent or team of agents means they are invested in you and your specific needs and goals. By committing to a single broker, they are in turn more committed to you.

So, how do you know whom to trust when buying or selling your home? An agent worth your commitment demonstrates their salt with their superior knowledge of the area in which you are trying to buy or sell a property. This includes expertise concerning area schools, market trends, employment rates, the state of the local economy, and much more. Also important is an agent’s record of success even in these rough economic times. And speaking of experience, an experienced agent can help buyers spot potential problems, including structural problems, design flaws or contractual issues, that might otherwise go undetected.

If this sounds like too tall of an order, then look to DeHanas Real Estate Service for a “realty” check!

The team at DeHanas Real Estate Service is the best in the Washington D.C., Southern Maryland and Northern Virginia area, with over fifteen years of experience and national recognition, including a nod from Realtor Magazine, which named DeHanas one of the top 100 sales teams in the country.

Real estate in the Washington D.C., Southern Maryland and Northern Virginia area is varied, with properties ranging from rural to urban, large to small, and home prices ranging from $75,000 to the millions. It’s a lot of ground to cover, and whether you are buying or selling a home, you need to know that your agent knows this real estate better than anyone else. Choose DeHanas whether you are selling your house or looking for the perfect place to call home, and they will commit their knowledge and reputation to making your real estate desires a reality.

Step back in time, through the magestic wrought iron gates and into this completely fenced 10.23 acre Historic estate known as "Bellevue". Features include 7 fireplaces, 5 BR and 5 BAs, including a tenant house and classic Greek Temple w/Grotesque perched high atop the columns. Seasons never change in the Orangery, offering a peaceful retreat with a 30 minute commute to Washington, DC.

Listed on the National Historic Registry, Bellevue is a fine example of an early 19th Century plantation house with deocrative elements in the Greek Revival Style. It exemplifies a house style typical of successful small planations of the period. It is one of only three surviving examples in Prince George's County of this onece popular 'Tidewater' house style. Bellevue is in excellent condition and retains its free standing chimneys with brick pent, as well as its roughly contemporary kitchen wing. It is a fine example of the early archetecture of the region.

PHOTO TOUR 

For more information on this home, or to schedule an appointment to preview it, please call Don DeHanas at 800-842-0190 x106

As a real estate professional, I have found that educating the public is a large part of my business. You may remember the catch-phrase used by The Men’s Warehouse clothing company; “Our best customer is an educated customer.” No truer words have been spoken when it comes to selling residential real estate. When I work with a buyer or seller who is aware of the market conditions, and understands the value of ‘doing things right from the beginning’, there tends to be a much smoother, and gratifying experience for all involved.

So why is it that some homes sit on the market and never sell (and current statistics indicate that 41% of the homes on the market in Southern Maryland will not sell), while others sell in a relatively short period of time? Two reasons; “sellability” and “Pricing”. When you make improvements to a home, like replacing the carpeting, freshening up the paint and sprucing up the landscaping, you are adding to the sellability, not to be confused with “Value”. The afore mentioned improvements do not create value. The second reason is “price”, and the biggest reason homes do not sell.

There is a common misconception about the difference between a Comparative Market Analysis, commonly known as a CMA, usually prepared by a licensed real estate agent, and an appraisal, which must be compiled by a licensed appraiser. Unfortunately, sellers will often times confuse market value with market price, which prompts unrealistic expectations of what their home will sell for.

Keeping in mind that ‘a home is worth only what a buyer is willing to pay for it’, it stands to reason that when supply outweighs demand there is more to chose from, putting pressure on pricing, and thus creating a buyers market. Maryland real estate cannot be lumped, as a whole, into one category.  There are parts of it that are experiencing significant price pressure, while other areas, like Southern Maryland are seeing flat to only slightly negative appreciation.

The secret to pricing a home that will sell (here is the real tell-all) is to price it 2%-5% in front of the market comparisons in the direction of the trend.  In an up trending market, you would price a home higher than the last home sold for, while in a down trending market, a home should be priced slightly lower that the last group of comparisons sold for.  In Charles County, for example, recent home-sale statistics show the average ‘sold’ price was –1.44% over homes sold a year ago. If you want to sell your home under the current conditions, you would price it about 2% below the CMA recommended price for your property.

Often I will hear a seller say that “it appraised for more”…….And here is the reason for confusion; there are a number of reasons a seller will get an appraisal. It could be for a home equity line, a refi, a bridge loan, or an appraisal of resale. Each of these appraisals is compiled for different reasons, and is merely supporting documentation that is required by the bank to justify the loan they have made to the homeowner. It is not uncommon at all for three different appraisals to have three different values. Also, the typical comparison appraisal only uses 3 comparables, while a CMA generated by a real estate agent uses all of the comparables within the neighborhood, providing a larger picture of the market trend. Also, the information in a CMA and an appraisal is only good for 30 days. Don’t rely on the pricing opinion you received 3 months earlier, as it will have changed.

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With more listings coming on the market than there are buyers, it is time to get serious about competing in a buyers market.  Over the last several years, anyone who wanted to sell a house just needed to put a “For Sale” sign in their front yard, and buyers would come in droves.  What a change of events during 2006. So, what can a home seller do to get their home sold for the most money in the least amount of time?  Here are a few tips:

1. Get your home in tip-top shape.  Some of the small tasks can go a long way to getting your home noticed. Start on the outside of your home.  Take a look at the curb appeal from a different perspective. Do you need a fresh coat of paint, do windows need rescreening, could you use new shrubs or mulch? All of these items are low cost fixes that will dramatically improve the look of your home.

1. Clean & declutter.  You will be amazed at how many home sellers don’t do the basic household chores.  This is one step that, if you do it, will give you a major leg up on the competition. Remember to clean ceiling fans and vents, and get rid of piles of paper and old magazines. The fewer knick-knacks you have around the better your home will show.  If you need a fresh coat of paint, do it. If you know you need new carpeting, do it.  Offering a decorating allowance does not cut it. Most buyers cannot look past the work that needs to be done. Also remember to organize cupboards and closets.  Buyers will look inside all of them.  Your going to have to get organized before you move, you may as well do it before you have showings. Click here for a list of 25 Easy Fix-Ups.

1. Hire a great real estate agent.  The market has been flooded with new agents over the past several years, most of them looking to make a quick buck, and offering very little service.  Before you hire a real estate agent there are a number of essential question you should ask. Make sure you are in the best possible position from the beginning.  A good agent is going to know how to price your home right the first time.

1. Be open to offering buyer incentives. In a buyers market, a seller will most likely be looking at offers with terms that favor the buyer. You will most likely offer closing assistance, up to 5% of the contract price. You will more than likely need to be flexible with the settlement date. Expect the buyer to have a home inspection, or have a home sale contingency.

1. Be open to offering agent incentives.  If you are not getting showings on your home, you will probably resolve the problem by offering agent incentives, ie higher commission and/or a selling bonus.  When you are looking at comparative properties that have sold in your home, take note of any agent incentives. This is an area in which many home sellers don’t realize they are competing for agents to bring buyers. With so much inventory on the market, it is easy for a prospective listing to go unnoticed. Do something to get their attention.

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