Fort Meade - USNA - Andrews AFB: June 2007

If you have never heard the term "meme", you're not alone.  As far as I know, it is unique to ActiveRain.  let me briefly explain - Another member of the ActiveRain Community "tagged" me to share 5 things about myself with others in the network, so here goes: 

My philosophy - It's all about YOU-YOU-YOU.  If I always put YOU first, we'll both always win.  Try it... it works!  (Note: This is the exact opposite of me-me.)   

My life - No drama, no adventure, no secret dreams or passions to reveal here on ActiveRain.   ‘Been there, ‘done that, and survived.  I won't bore you with the details because you're probably living them now, as I once did.  If you live long enough, you might someday be content like me.  

My family - ‘Wish I could put them on my resume, because nothing makes me prouder.   Married for 40 years (July 15), four children, three grandkids and two more on the way.  Everyone is healthy, happy, and successful with no ongoing family dramas to report.  Yawn...

My career -  ‘Started out as an elementary school music teacher, but San Diego didn't have music/art teachers when my husband was transferred there in ‘68, so I got a job in a real estate office.  The rest, as they say, is history.  I still have a perfect record for no fall-throughs and no complaints to the Association or Real Estate Commission during my career as an agent, a branch manager, a broker of record, a title company owner, and a trainer/mentor to literally thousands of agents.

My home - ‘Born in D.C., raised in Maryland, and lived in Crofton since 1971.  We're in our 5^th house in the community, having started out with a townhouse, moved up twice, and down twice.  Lol.   We must like it here!  You will often see "I LOVE Maryland" in my email or blog signature for that very reason.

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Okay, Mr. Belonger, you asked for my meme and you got it.  Now, I'm supposed to tag three more people, so here goes: 

Katie Landon, the first person that I invited to ActiveRain - I met Katie first as a prospective home buyer, then she worked as my part-time assistant, and now she's a REALTOR in Rehobeth Beach, Delaware.  I know she'll love ActiveRain, and maybe this will help her get started.  http://activerain.com/klandon

Lauren Corna, the #1 featured agent in Tarrant County, Texas.  We don't know each other, but my daughter just relocated to your area and she's going to be needing a real estate agent... http://activerain.com/blessings5

Kathy Manigrasso, another ActiveRainer from Tarrant County, Texas - Your profile is warm, friendly, brief... and it makes me want to get to know you.  http://activerain.com/kmanigrasso

For more about meme's, visit these links:

• http://activerain.com/blogsview/124759/Those-dang-MEME-s
• http://activerain.com/blogsview/119906/Knock-knock-Who-s
• http://activerain.com/groups/memes

Remember Margaret in Maryland for real estate in the D.C.-Baltimore-Annapolis Triangle.  (Margaret Woda, RE/MAX Vision)

Are home sellers in denial?  Now that is a very good question, and everyone has an opinion.  I'll bet you've already framed an answer in your own mind, and now you're waiting to hear what I have to say.

Yes, I think that's true.  I've talked to a number of sellers, and even agents, who are convinced that their home is worth 10% higher than it's likely to get in today's market.  In fact, even economists and other experts are making that observation.  Just today, I was reading an article in MarketWatch by Rex Nutting, and he quoted the Chief Economist for Naroff Advisors as saying that "we still seem to be in the sellers' denial phase of the market and we haven't even hit the buyers' denial portion of the market, when people don't realize that prices are no longer dropping."  At this point, I would normally throw the ball back into the court of whoever asked the question by asking "What's your opinion?"  The truth is that I could have used any of the quotes which follow on this page.

Many REALTORS are, indeed, true experts who study real estate, the economy, market trends, the home building industry, and local real estate sales statistics because that is what it takes to be "the real estate experts" in our area.  These agents really do know more about real estate than most home sellers, buyers and many agents, and THAT is why we bring value to consumers' real estate transactions.  It's why we earn the "big bucks!"  (And it's the reason we're more valuable than mere real estate licensees who don't do these things.)

When consumers ask a REALTOR a question - even a casual one like "Are home sellers in denial?" -they'll know the REALTOR is more than one of those "here today, gone tomorrow agents" when the REALTOR quotes statistics and the experts, in addition to sharing anecdotes from their own experience. 

Use the links below, if you'd like to read the entire article that is the source of each quote.

Joel Naroff, Chief Economist for Naroff Advisors:  "We still seem to be in the sellers' denial phase of the market and we haven't even hit the buyers' denial portion, when people don't realize that prices are no longer dropping." U.S. inventory of homes for sale in May rises to 15-year high

Rex Nutting, Washington Bureau Chief of MarketWatch:  "Starts of new homes in the United States dropped by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, the softest pace of groundbreaking since January, the Commerce Department estimated Tuesday."  U.S. housing starts fall in May to 1.47 million pace, down 2.1%

Patrick McPherron, economist for Moddy's Economy.com:  "The bottom of the housing market appears nowhere in sight."  Home builders' confidence falls to 16-year low

Lawrence Yun, Senior Economist for NAR:  "I think psychological factors are currently the biggest drag on the housing market, in addition to a disruption from tighter credit for subprime borrowers."  Existing-Home Sales Show Market is Under Performing.

Office of Federal Housing Enterprise Oversight:  "U.S. home prices increased 0.5% in the first quarter, the slowest quarter-to-quarter price gain in 10 years."  Home prices rise at slowest pace in 10 years

Mike Englund, Chief Economist for Action Economics:  "Inventories of homes on the market rose by 5% to a record 4.43 million, representing an 8.9-month supply at the May sales pace."  Dollar stalls after home sales data.

You can keep up with the experts through MarketWatch, as well as NAR press releases.   You can even register to receive a free MarketWatch Alert any time there is an article related to the Real Estate industry.

Contact Margaret in Maryland for real estate in the D.C.-Baltimore-Annapolis triangle. 

HAGERSTOWN MD.  Historic Places.  Coming Events.  Posted to Localism.com, by Margaret Woda. 

The Miss Maryland Pageant began today, with contestants arriving in Hagerstown for a hectic week of rehearsals, appearances and competition (June 24-July 1).  If you've never been to Hagerstown or to a Miss America state pageant preliminary, this is a great opportunity for you to experience both.  And you still have time to get tickets, which are very affordable.

Competition is held Wednesday thru Sunday at the historic Maryland Theater on Potomac Street, one of Maryland's genuine treasures.  Visiting that venue is worth the trip to Hagerstown from anywhere in the state.  Built in 1915, partially destroyed by fire in the 1970's and re-opened in 1978, the ambiance of the theater takes you back to a different time.  There is an historic pipe-organ, wonderful acoustics, box seats overlooking the stage, beautiful lighting, and seating for about 1300 people.  It's really a breath-taking facility!

Twenty "Miss" contestants, representing Anne Arundel County and other areas of the state, will first compete in talent, swimsuit, evening gown and private interview on Wednesday and Thursday.  The finals will be on Saturday night, and the winner will advance to the Miss American Pageant to represent Maryland - as did Brittany Lietz of Edgewater, last year.   On Friday night, fifteen young ladies will compete for Miss Maryland Outstanding Teen.   

For ticket information, contact Richard Kibler - (540) 722-8007 - or purchase them at the Maryland Theater Box Office - )301)790-2000.  All performances take place at 8 p.m.

Remember Margaret in Maryland for real estate in the D.C.-Baltimore-Annapolis triangle. 

CROFTON MD 21114, GAMBRILLS MD 21054, ODENTON MD 21113 

Suburban Scene Magazine is a relatively new publication that focuses on places, people, and events in the areas of Crofton, Gambrills and Odenton in Anne Arundel County, MD.  A few weeks ago, I was asked to contribute to their cover story for May, which focused on real estate in the area.  Our Real Estate Picture, by Laura Gayvert, was extremely informative with information about real estate past and present, as well as some predictions for the future.  Several local Realtors and lenders were quoted and even pictured, and several different communities were highlighted.  Take a few minutes to read this, if you're considering a home in Crofton, Gambrills or Odenton, or anywhere in the Baltimore-Washington-Annapolis triangle.

Contact Margaret in Maryland, for real estate in the D.C.-Baltimore-Annapolis triangle.  (Margaret Woda,  RE/MAX Vision)

Well, actually, that was lesson #3 learned from my listing at 1697 Walleye Dr.

Lesson # 1 - The Internet IS a source of business for real estate agents.   This listing came to me directly through an ActiveRain contact form for a property located about 3 blocks from my office, in the heart of my target area in Crofton, MD. 

Lesson # 2 - Do not walk away from any listing, even if it is overpriced.  I did at first, but had second thoughts as I drove down the street.  The next morning I called the home owner and said "If anyone can sell your property for more than $300,000, I can."  Over the next few weeks, I had several sign calls on that property, ending up with at least one other listing and sale.

Lesson #3 - Appraisals are not the last word!  We did get a full price offer of $333,000 about 30 days later.  Concerned about the appraisal, I asked the seller to provide her receipts for renovations, which I then gave to the appraiser.  In spite of documentation for more than $50,000 of renovations, the appraisal came in at $295,000, just $11,000 more than she paid for the property in October 2006. 

The mortgage lender, new ActiveRainer Don Wilkins, immediately ordered a second appraisal.  Again, I met the appraiser and gave him the package of receipts.  This time, the appraisal came in at $306,000 - better, of course, but still $27,000 away from the contract price.  Many agents and lenders would have let the appraiser have the last word and this sale would have died at this point.

But not me, not us...  Super-heroine Margaret, along with the super-hero co-op agent, informed our respective clients of the situation and asked how they felt about going forward (without mentioning our own doubts).  My client said she would consider it, if the buyers could/would waive the closing help in the original contract.  The buyers told their agent that they would waive the closing help in the original contract, if the seller would accept the sale price.  Voila!  They came together on their own, and they both feel they "won" because the solution was THEIR OWN IDEA.

The buyer and seller reached a fair compromise, facilitated by two experienced agents and a lender willing to seek a second appraisal.  They, not the appraiser, got the last word.  Settlement will be next week, and all are expected to live happily ever after!

Remember Margaret in Maryland for real estate in the D.C.-Baltimore-Washington triangle. 

Choosing your agent.  Part 1 of 2.

Before the interview...

If you live in Maryland, or anywhere in America, you probably know a Realtor or two or three.  You might even be related to one or more.  So how do you choose a professional to help sell YOUR home?  There are several steps you can take to narrow down the list before you interview any agent in person.

1. First, create a list. - Start with any agent who has done a good job for you in the past and any that you've heard friends or family rave about, based upon their pleasant and profitable home sale or purchase.  You may wish to add any agent who has kept in touch with you regularly through postal mail or email, or whose signs you've noticed in your neighborhood - assuming, of course, those signs read "sold".
2. Do a google search or a yahoo search (or both) to find out whether they have a presence in cyberspace.  That is essential in today's market, because cyberspace is where most buyers start their home search, and you want to work with someone who is comfortable in that world.  They don't have to be on page 1 when you search by community, because that is often dominated by the large firms' corporate websites, but the agent should at least appear when you search their name and their local office.
3. Visit each agent's website.  Ask yourself, "What's in it for me?"  Is their focus on YOU-YOU-YOU, the consumer, or is it me-me-me, the agent...  Of course, you want to learn about the agent's professional background and qualifications through their website, but you'll also learn a lot about them and their approach to business by the articles and links they provide, including mls searches.  If there are non-working links and mis-spellings throughout the website, ask yourself if that lack of attention to detail is a quality you want in the agent who represents you.
4. Contact each agent by email or phone (or both), to find out how quickly the agent responds.  The Number 1 complaint I hear from consumers about their agents is "He didn't call me back" or "I never hear from him."
5. Contact each agent's office to inquire about a listing.  (Or ask a friend to do this for you.)  You will get a good indication of how inquiries about YOUR property will be handled.  If they encourage the caller to make an appointment to see the property, that's a good thing.  If they tell the caller about another listing they have that is better priced or a better location or ..., that is probably not how you want inquiries handled about YOUR home.

If you take these steps before you interview an agent, it is likely that one or more of them will be eliminated from your list.  That will help you to minimize the risk of succumbing to personality over substance when you meet face to face.  While it is important for you to like your agent, personality alone is not enough to get the job done in today's tough real estate market.

The next step, interviewing prospective agents face to face, is a topic for another day.

Do Your Homework Before You Choose An Agent.  Copyright 2007.  All Rights Reserved.  Margaret Woda.

Several months ago, I received an email from Carolyn Nelson, offering to help me get started with blogging.  Her timing was perfect, following within days the warnings from my son, Steve, that I would be left in the real estate dust if I didn't start blogging.  (Moment of motherly pride here:  He is the founder of a very successful online business, buySAFE.com, and he knows a lot about consumer expectations.)

So I accepted Carolyn's offer, and she immediately set up an account for me with Blogger.  I will always be eternally grateful to Carolyn for giving me a headstart on this - I might never have gotten around to it. For weeks, even months, I diligently posted nearly every Sunday morning, even though I had no idea if anyone ever read it.  It did give me a certain amount of pleasure to receive a google alert every Monday, and my son's email saying that he approved of my most recent blog.  At least he saw it and knew I wasn't left in the dust any more!

When Carolyn set up my Blogger account, she must have invited me to ActiveRain and I must have accepted - honestly, I don't remember that at all.  But somewhere along the way I realized I had an ActiveRain account , set up a profile and wrote a short blog posting to refer people to my Blogger account.  That was the end of that for many weeks... until I got an email contact form from ActiveRain.

A consumer saw my posting on ActiveRain and wanted to list her house with me!  I thought it must be a joke.  But no, I got the listing!  That was it.  I was hooked!  And the rest, as they say, is history.  I love ActiveRain!

I never knew if anyone ever saw my Blogger postings, other than my family.  Yes, there was an occasional comment - when I emailed a friend and asked her to please comment.  On ActiveRain, I know my postings ARE being read because people actually comment on them.  And THAT, my friend, is the value of the point system.  Readers are rewarded for commenting, so they take the time to do it.  Brilliant!

Not only that, but ActiveRain encourages community-building - and I have renewed old friendships, like the one with Lenn Harley, had excuses to get in touch with long lost friends, such as Katie Landon, met experts I might never have known, such as Jim Crawford, made a successful referral to Eric Anderson, and made so many new friends that I can't begin to list.  I enjoy participating in ActiveRain, and literally have to force myself to make time for my weekly Blogger posting - usually a cut and paste from something I've already written for ActiveRain.  Did I mention Localism?  Yet another benefit of ActiveRain participation - Advertising for ourselves and our listings plus an opportunity to interact with consumers through the Q&A section.

As far as I'm concerned - it's no contest!  ActiveRain wins this competition, hands down!

Just my opinion:  I'm not impressed, or even interested, when I see a one-sentence blog such as "I've been a real estate agent in (name of city) for over 10 years, so please call me if you'd like to buy a home here."  Or even a one-paragraph blog with no information or opinion or question.  Or... speaking of questions, how about the open-ended question blog?  "Does anybody know anything about financing?" for example.   lol.

But short is fine, if there is "content" included.  Some of the best blogs I've read have been short ones.  Just remember, there's more to ActiveRain then racking up points, one short blog at a time.  But I thought I'd give it a try, just this once. 

ODENTON MD 21113 

Recently released real estate statistics indicate that Odenton (21113) fared better than other Anne Arundel County zipcodes during May 2007, compared to May 2006.

According to the Metropolitan Regional Information Systems, Inc. (MRIS), the mls used by REALTORS and others in the Odenton area, the average "Sold" price was down by less than 1% from a year ago - essentially, values are holding their own.

One statistic that I always look for is New Listings vs. New Contracts, because that is a good indicator of supply and demand - which helps me to predict the market for the next few months.  In Odenton, there were 110 new listings, and 52 new contracts, including 12 contingent contracts.  While this is a 2-month inventory of new listings, it is much more favorable than other nearby areas.  (Crownsville, for example, had 21 new listings and only 3 new contracts.)

Given the anticipated growth in this area, due to BRAC, and the excellent location within a half hour of both D.C. and Baltimore, I'm thinking that Odenton is the place to own real estate!

For recent real estate activity in your area, or another area in Maryland that you may be considering buying, click on Market Snapshot.  Just enter your own address, and you will receive a map of the area by email, with current listings and recent sales listed.