Friday, November 26, 2010

National Association of Realtors® 2010 Seller Profile

From the The National Association of Realtors® 2010 Profile of Home Buyers and Sellers – Here are a few highlights on sellers from the report.

  • The typical seller lived in their home eight years before selling.
  • Eight-eight percent of sellers were assisted by a real estate agent when selling their home.
  • Forty-four percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.
  • Eighty-six percent of sellers were at least somewhat satisfied with their selling experience.
  • Forty-one percent of sellers who used a real estate agent found their agents through a referral from friends or family and 23 percent used the agent they worked with previously to buy or sell a home.
  • Ninety-one percent of sellers reported that their home was listed or advertised on the internet and topped the methods  used to market the home. Social networking of properties rose from 2 to 5 percent, while print newspaper ad use among sellers using an agent declined from 37 to 28 percent.
  • The share of home sellers who sold their home without the assistance of a real estate agent was 9 percent. More than fifty percent of them knew the buyer prior to the home purchase.
  • Twenty-three percent of For Sale By Owner (FSBO) sellers reported getting the price right was the most difficult task, while eighteen percent reported preparing or fixing up the home for sale was their most difficult task.
  • One in five FSBO home sales transactions is a mobile or manufactured home.
  • Eight-one percent of all sellers sold a detached single family home. Recent sellers typically sold their homes for 96 percent of the listing price and 57 percent reported they reduced the asking price at least once.

    Charles Kraus, Associate Broker    Coldwell Banker Residential Brokerage    Annapolis, MD

     Office: (410) 919-2642                email: ck@mris.com          web: http://charleskraus.net

Strategies For Selling your Home

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Saturday, November 20, 2010

Washington, D.C – St Michaels, MD Weekend Get Away

Get away for the weekend and spend time in lovely St Michaels, MD on Maryland’s eastern shore.

Buy this one story charmer at 1102 Harrison Ave in lovely St Michaels, MD and enjoy fun filled and relaxing weekends. Leave the hustle and bustle behind and live life to its fullest!

Priced at just $239,900

 

Enjoy strolling through town, antiquing, perusing the arts and crafts and gift shops. Dine at the fine restaurants enjoying the bounty of the Chesapeake Bay.

 

Just a short 10 mile drive away is Historic Easton, MD one of America’s best small towns. Enjoy live entertainment at the historic Avalon Theatre.

 

Also very close by is Historic Oxford, MD. Take the Oxford-Bellevue Ferry - Americas oldest privately owned ferry. The ferry serves as a connection on a scenic route between Oxford and St Michaels, Maryland and is one of the Top 25″ bicycle routes in the United States. Get more information at http://www.oxfordferry.com Fares and rates subject to change.

 

Contact Charles Kraus, Associate Broker for more information at (410) 443-0700 or by email at ck@mris.com

Coldwell Banker Residential Brokerage – Annapolis Plaza  -  Equal Housing Opportunity

Friday, November 19, 2010

National Association of Realtors® 2010 Home Buyer Profile

From the The National Association of Realtors® 2010 Profile of Home Buyers and Sellers - Here are a few highlights on buyers from the report:

Characteristics of Home Buyers

  • 50 percent of recent home buyers were first –time buyers
  • The typical first-time buyer was 30 years old, while the typical repeat buyer was 49 years old.
  • The 2009 median household income of buyers was $72,200, while the median income for first-time buyers was $59,900 and $87,000 among repeat buyers.
  • For 1/3 of the recent home buyers, the primary reason for their home purchase was a desire to own a home.

Characteristic of Homes Purchased

  • New home purchases were at the lowest level in nine years – down to 15 percent of all home purchases
  • The typical home purchased was 1,780 square feet in size, was built in 1990, had three bedrooms and two bathrooms.
  • Seventy-seven of home buyers purchased a detached single family home.
  • When considering the home purchase, commuting costs were considered very important or somewhat important by 76 percent of home buyers.

Home Search Process

  • For more than 1/3 of home buyers, the first step was to look online for properties and overall 9 out of 10 home buyers used the internet to search for homes.
  • Real estate agents were viewed as a very useful information source by 81 percent of buyers who used an agent while searching for a home.
  • The typical home buyer searched for 12 weeks and viewed 12 homes.
  • Eighty-three percent of home buyers purchased their home through a real estate agent and eighty-seven percent said they would use their agent again in the future.

Buyer Financing

  • Ninety-one percent of home buyers financed their recent home purchase.
  • First-time buyers typically financed 96 percent of their home purchase, while repeat buyers financed 86 percent of their home purchase.
  • Seventy-one percent of all home buyers and ninety-three percent of first-time home buyers used the tax credit during their home purchase.
  • Forty-six percent of home buyers reported that they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.

Next time – Sellers

Charles Kraus, Associate Broker – Coldwell Banker Residential Brokerage -  Annapolis, MD

Office (410) 919-2642  email: ck@mris.com