» Monica's Musings

Why Sell Your Ocean City Home Through an Expert?

Monica McNamara — Wed, 08 Feb 2012 01:56:31 +0000

Human nature is strange. It’s surprising to see some people trying to sell their Ocean City home, probably their largest life time investment without the help of a REALTOR®.

For the average homeowner, selling his home is one job he should never tackle on his own. One mistake could turn out to be extremely costly. For starters, you must have considerable knowledge regarding value. How much do you want for your house? How much do you think it’s worth? How much will a buyer pay? Three different questions with three different answers. If you overprice it your for sale sign could stay planted in your yard like an ancient oak tree. On the other hand, you might under price it and give it away.

According to REALTORS Magazine, there are 8 basic reasons to use a REALTOR® when listing your home:

8 Reasons Why You Should Work With a REALTOR®

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here are five reasons why it pays to work with a REALTOR®.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

*Reprinted from REALTOR® Magazine (RealtorMag.Realtor.org) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Ocean City, MD Real Estate Talk- Why a Home Doesn’t Sell

Monica McNamara — Wed, 01 Feb 2012 00:14:01 +0000

In the real estate business it’s called a “White Elephant:” An excellent house for sale which just sits and sits. Often you can recognize it by the tall grass and weeds overrunning in the front yard, an occasional broken window here and there… The cause of this blight is almost always the same – overpricing.

This story usually has a sad ending – for the seller. Eventually, the seller agrees to a price reduction and thinks the house will now sell fast. By this time it is too late. The good prospects will not come back or will have waived goodbye and bought elsewhere. Your property appears ”stale.” Buyers will wonder why this home hasn’t sold. They will wonder if something is wrong with the property besides the fact that it is overpriced. The appearance and condition sometimes have deteriorated. The eventual selling price is far below what it could have realized had it been valued realistically from the outset.

You don’t have to increase the “White Elephant” population in this country! There is a safe way to establish the Right price. When you are ready to sell, contact us. We’ll know the true value and what it will bring in this market. Top price, yes! Overprice – NO!

Should a Buyer Move-in Before Closing?

Monica McNamara — Tue, 24 Jan 2012 00:43:56 +0000

This situation is this: your home is for sale and the prospective buyer wants to buy it, but says, “I like it, I want it. But I will not have the money for a couple of months. Can I move in until we finalize the sale?”

Possession of a home usually changes from seller to buyer at “closing,” but in some cases a home buyer will ask the seller to grant possession before closing. Sellers make the final decision as to whether an early buyer possession makes sense, but you will find the seller’s agents RARELY encourage this situation. Too many things can go wrong.

One of the best ways to kill a sale is to allow a prospective buyer to move in a considerable time before settlement. Often when this occurs, it is difficult to get the buyer to go to settlement. He may keep findings things wrong with the house, keep insisting they be fixed, or even worse demand that an adjustment be made to the price. Can you imagine if the loan never gets approved and the buyer now is living in your home? What if he trashes the house or makes unwanted changes?

Sometimes the result is even more disastrous. The seller becomes disgusted with all the alleged complaints and calls the whole sale off. Now you need to get the buyer out of the house, potentially do some cleaning, repairs and ultimately the seller must then start all over again!

In my opinion, it is better to let a house sit empty than to let a prospective buyer move in before the closing date. Although it is not good for a house to sit empty for a long time, it is still faster and a better way of selling it with the least amount of trouble. If you do agree to early buyer possession, it should most definitely be handled with a written agreement that describes the duties any responsibilities of both parties. Protect yourself and your investment.

Ocean City Condo For Sale- Oceanfront Condo at Marigot Beach

Monica McNamara — Mon, 23 Jan 2012 23:50:27 +0000

Direct oceanfront 1 bedroom with highly desirable 3rd floor location for optimal view of ocean & waves, plus use of elevator or steps. Marigot Beach has indoor pool, hot tub & game room. New in 2011: carpet, tile, paint, bi-fold doors. Convenient to shops & restaurants.

Offered at: $219,900

Virtual Tour

Quaint & Cheery Oceanside Two bedroom Condo Just Listed!

Monica McNamara — Thu, 19 Jan 2012 01:21:05 +0000

Oceanside 2 bedroom condo that just feels like home. Lovingly cared for. Newly renovated kitchen, bright and cheery decor, new laminate flooring. Large balcony with ocean views. Steps to the beach. Convenient to shopping and restaurants.

Offered at: $199,000

Virtual Tour

Affordable Oceanfront Condo in Ocean City!

Monica McNamara — Wed, 18 Jan 2012 20:11:31 +0000

Perfect beach getaway on the direct oceanfront 123rd St. Outdoor pool, elevator, resident manager. Convenient North Ocean City location. Walking distance to shopping & restaurants.

303 CaraMar Condominium, 123rd Street

offered at: $149,900

Virtual Tour

When Showing The Inside-First Impressions When Selling Your Home

Monica McNamara — Tue, 17 Jan 2012 16:41:27 +0000

When you are showing the inside of your home to a prospective buyer, remember that first impressions are lasting and have an important effect on a potential sale. It sends a clear message to potential buyers. A clean, well-kept home shows a home that has had good care and has been propertly maintained. Put yourself in the buyer’s shoes.

Re-paint the interior if it needs it, but use neutral colors, if possible. This is not an expensive DYI project or even one to hire out. An attractive, comfortable living room is a major attraction, but a sparkling clean kitchen will appeal to the prospective lady of the house and as we all know…her opinion carries the most weight! It is the heart of any home, so keep it spotless. NO dirty dishes. Put away your soaps and towels. Women are also sensitive about the bathrooms: keep them clean, orderly, and uncluttered. Again, put away your personal items.

Bedrooms are important – arrange their furnishings neatly. Shiny windows not only are a great asset but let sunlight in and brighten the atmosphere. Clean out the clutter in the closets, basement, and garage. If you have a pet please clear them out for the showings.

Bottom line: de-clutter, organize, and clean.

PLEASE contact me if you have any questions regarding your home.

Monica McNamara

Beautiful Bayfront at Heron Harbour Isle

Monica McNamara — Tue, 10 Jan 2012 18:10:04 +0000

Beautiful bayfront community of Heron Harbour Isle. Impeccable 1st floor waterfront condo. Private balcony that accesses your deeded boat slip. Custom painted & decorated. Chair rail, crown molding, ceramic tile, recessed lighting. Handicap access. Baywatch Grande is only elevator bldg. (3) pools. Two outdoor, one indoor, tennis, bird sanctuary, fitness center, community center. $299,900.

VIRTUAL TOUR

Beautiful Marsh Harbour Ocean City Home!

Monica McNamara — Wed, 04 Jan 2012 18:23:48 +0000

Fabulous West Ocean City location in the Marsh Harbour Community. End unit townhouse duplex design w/2 car garage. A private deeded boat slip is included. Community pool and clubhouse for your use and enjoyment. Assateague Island bay views. Convenient to restaurants, shopping, but just minutes to the boardwalk.

Walk To Beach From Spacious Condo

Monica McNamara — Tue, 29 Nov 2011 18:34:15 +0000

Baywatch at Heron Harbour Isle. Large & spacious 3 Bdrm, 2 bath condo that sleeps 8. Large exterior balcony that you can access from living area & master bedroom. Many interior improvements to include living room furniture (sleep sofa), bedding, plumbing fixtures, washer & dryer. You will enjoy calling this property your special place at the beach. 3 community pools, 2 outdoor & 1 indoor pool, saunas, gym area, meeting room & tennis courts. The recreation building overlooks a waterfront bird sanctuary. Walk to the beach, shopping, grocery & restaurants. The perfect location & property. Plenty of storage space.

Virtual Tour

Offered at: $299,000