Time Is Of The Essence – More Than You Think


In real estate the phrase, “time is of the essence” means that the need for timely completion is required.  If a specific task, such as arranging for a home inspection, is set for X number of days, arranging for the inspection within that time frame is required or the buyer may find themselves in default and risk losing their earnest money.

White clock with words Time to Act, representing either the desire to perform in acting or the need to jump into action and perform a task working toward a goal

It is also designed to make sure that all parties concerned keep on track to get to the closing table.  Not having the clause “..time is of the essence..”  results in parties dragging their feet on many of the tasks.

But time is of the essence in another factor, also.  REALTORS® will stress the importance of presenting your home for sale in a neat, orderly and uncluttered manner.  Beds should be made, dishes from breakfast put away and toys picked up and for good reason.  When potential buyers enter a house, they can determine that they do not want to buy that particular house in as little as EIGHT SECONDS!

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

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Heartbreak in Real Estate


I have mentioned this more times than I care to remember; If you are looking to buy or sell real estate,  it is critically important to have a REALTOR® who is working on your behalf.

All too often, I am contacted by someone who is looking to buy or rent a property and they are searching on any website that seems to have listings.  BEWARE.  Often times the business model for these websites is not connected with real estate – their business model is to sell advertising.

I just got off the phone with someone who found what they thought was going to be their dream rental property.  They just found it on a rental property website and it appears to be everything they would want and it was only $850 a month.  To make matters worse, they need to move ASAP!

Unfortunately the website that they found it on sells advertising – not real estate, and the property they were looking at to rent had been rented months ago.

Whether you are looking to buy or rent a property, use a website that is sure to give you timely, valid information that you can trust. Turn to http://www.REALTOR®.com.  If you are looking to rent a property, my advice is to call the Coldwell Banker office in the vicinity you are looking to rent and ask for an agent that specializes in rental properties.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or email me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

 

Real Estate Market Conditions for Maryland, July 2018


The real estate market has continued its’ upward trend with sales in the state of Maryland increasing 5.2% in July 2018 over last year.  The average price of homes sold in Maryland during July, 2018 increased by 2.3%; however, it should be noted that the median price of homes dropped by 1.4% indicating that lower priced homes are driving the market in real estate.

As you may recall from earlier postings, Months of Inventory is what indicates whether it is a buyers’ market, a sellers’ market or neutral.  Maryland had dropped into the sellers’ market for several months beginning in early spring, but in July it inched up to 2.8 Months of Inventory – 3.0 Months of Inventory would indicate a neutral market.  Four counties in Maryland have reverted to a buyers’ market as of July 2018.

If you would like information specific for the county in Maryland that you live in, please feel free to let me know and I would be happy to share that data.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to contact me.

Roland