I’m worried about my pets when I move? What can I do to make it easier on them?
Moving can be very stressful on a pet and it’s important to try to keep their routine as normal as possible. On moving day, try to take your pet somewhere familiar to them, such as a friend or relatives house, doggie day care, etc. until you have moved everything in the new home. Set up their areas (food, bed, toys) and try to make it similar to your old home. Bring your pet to the new house and show them their familiar items in the new surroundings. It will take a while for them to adjust to the new surroundings, but as long as you are with them, everything will be alright. The ASPCA and your veterinarian have great advice to assist you and your pet on moving day.
Janice Hariadi; Berkshire Hathaway HomeServices Homesale Realty; Downtown Annapolis
How should I best prepare to meet with an agent to list my home?
Have a discussion with any other decision maker in the home about your goals, budget, and timelines. Make sure you are ready to sell, know what date you need to sell your home by, and what your budget is for any necessary home improvements or repairs. Make a list of any home improvements you have made to the home. Get an extra key made for the lockbox. Be prepared to take the agent on a tour of your home and share your favorite features about the home and the community.
The David Orso Team of Berkshire Hathaway Home Services | Pen Fed Realty
Why would I need to stage my house if homes are selling so quickly?
According to Real Estate websites, such as Realtor.com, homes that are staged sell for 20% more than homes that are not staged. Therefore, it is important to present your home in the best possible light. The key to success is working with a professional real estate agent who has the expertise and resources to properly guide sellers in the process of decluttering, determining appropriate paint colors and any necessary updates, as well as fully staging the property to create an emotional connection with today’s homebuyers.
Carol Snyder and Tina Bradshaw; The Snyder | Bradshaw Group of Monument Sotheby’s International Realty
What are the top three features that buyers look for in a top tier waterfront property?
Privacy is paramount, many of the buyers coming to the Annapolis area are in search of a retreat to relax and escape from the hectic city life. Waterview is also extremely important. Unobstructed panoramic views always fetch a premium in this market and the most coveted feature is the waterfront pool. The local critical area laws are very restrictive and having a pool on the waterside can be a challenge to have permitted, so an existing waterside pool is a major value add.
Brad Kappel; TTR | Sotheby’s International Realty
Is the market shifting?
2021 was a record breaking year with 12,153 homes settled which is 61% higher than the 25 year average (7560 homes settled). It would appear we are in a housing bubble but a close economic analysis would suggest all the fundamentals are in place for another robust year of home sales in Annapolis. The strong equities markets, increased home values and low interest rates continue to empower consumers to make moves aligned to lifestyle desires. Our market has also been the benefactor of the shifting workplace dynamic. We have seen an increased urban migration from Washington, DC and Baltimore to our small town, waterfront lifestyle as employees escape life inside the beltway.
The David Orso Team of Berkshire Hathaway Home Services | Pen Fed Realty
Is the way retirees should invest to protect their portfolios changing?
Yes. Things are always evolving. Music has gone from vinyl to cassette to CDs to MP3 players to Digital Streaming. The telephone has gone from rotary to push-button to cordless to cell phone to smartphone. Investing has evolved as well from stocks to mutual funds to separately managed accounts to custom portfolio construction and diversification. The problem is many retirees portfolios look like vinyl or the rotary phone. Being diversified today means more than just stocks, bonds and cash. To protect your money in today’s global economy you need to be diversified by company, by product, by tax benefit, by asset class and with real assets vs. paper assets. This strategy is called Advance and Protect. Contact us today to look at additional options to diversify your portfolio! BrionHarris@PremierPlanningGroup.com or 443-837-2529.
Brion Harris; Premier Planning Group
What is title insurance?
Title insurance protects from matters resulting from unknown liens, or other defects, affecting the title that existed prior to your purchase that were not discovered. Examples could include property taxes not paid by previous owner, fraud or forgery of a prior deed, or a spouse or unknown heir who makes a claim against title. Defending these matters could be very expensive and could cause you to lose the property itself. A title insurance policy provides coverage for legal defense, as well as the coverage amount listed in the policy.
Jerome I. Feldman, Esquire; President; Mid-Maryland Title Company, Inc.
Do you expect the current unprecedented Seller’s Market conditions will continue for the remainder of 2022?
Yes! Urban transplants are migrating from the surrounding high density areas and creating such a high level of demand. These new Annapolitans are often snatching up properties immediately after they come on the market. This trend will continue to lead to low inventory levels creating high demand. Mortgage interest rates are expected to increase this year but they are still at a record low point making this transition even more desirable for home buyers. In summary, high buyer demand to invest in the Annapolis lifestyle plus low inventory and low interest loans equals a true Seller’s Market!
Brad Kappel; TTR | Sotheby’s International Realty
How is the market?
This market is still hyper-competitive with more emphasis now than ever on quality of life. There’s a ton of variables factoring into that but buyers are continuing to pull out all the stops for the right property in the right condition. It continues to be a very strong sellers market and will stay that way through 2022.
Shane Hall of Compass Real Estate
What exactly is a Retirement Distribution Specialist?
Most people spend 25 years of the working life accumulating assets in their IRA’s, 401(k)’s, 403(b)’s, 457’s, ROTHs and Brokerage Accounts. This represents a distinct period in your financial life when you’re trying to accumulate wealth. As you’re getting in or near retirement, the accumulation phase becomes less important and you tend to focus more on preserving what you’ve worked so hard to accumulate and developing a strategy for the most efficient distribution for the next 25 years of your life. This requires careful planning and unique knowledge to not fall victim to the multiple dangers of the distribution phase such as longevity, inflation, taxes, market volatility, health risks and sequence of returns.This is what a Distribution Specialist does. Contact us today to take a closer look at your current or upcoming distributions, to see if you are on the right track! BrionHarris@PremierPlanningGroup.com or 443-837-2529.
Brion Harris; Premier Planning Group
Should I wait to sell my home?
If you’re thinking of putting your house on the market, don’t wait. A Seller can benefit substantially and obtain the best deal when demand is high, and supply is low. That’s exactly what we are seeing in today’s real estate market.
Erica Baker; TTR | Sotheby’s International Realty
What are the most significant factors to consider when purchasing waterfront real estate?
First, you should determine if ownership of the property includes riparian rights, and thus the right to build a pier and/or access the water for swimming, boating and fishing. Once that assessment has been made, it is important to understand if there are any issues pertaining to critical area regulation and any potential violations that exist which the new homeowner would be liable for, even if they were not the owner that created the violations. Additionally, it is extremely valuable to have a boundary survey prepared to ensure the buyer understands exactly what they will own, where the boundaries exist, and if there are any encroachments.
Jay Walsh; Managing Partner, Liff Walsh & Simmons
How should I price my home in this market?
Sellers fall into the trap of incorrectly pricing their home in a hot market and it costs them lots of money. If you want to obtain top dollar then you need to let the buyers compete to drive the price and terms to an optimal point in the negotiation; which will happen very quickly. The “profit” comes from a competitive buyer pool outbidding one another. Professional experience, market research and understanding pricing strategy is more important than ever in a fast market because there is NO time to recover from an error. It’s truly binary: win fast -or- lose fast.
The David Orso Team of Berkshire Hathaway Home Services | Pen Fed Realty
Are we in a home pricing bubble?
Short answer is, no. The residential market has seen huge appreciation over the last 24 months. From 2010 through 2019, residential real estate didn’t appreciate much. 2008 and 2009 we saw a decline by roughly 12% and there was about a .5% increase year over year until March of 2020. This quick incline in home prices isn’t unwarranted and we won’t see another 2008 any time soon. Mortgage underwriting guidelines have been much stricter since the meltdown in 2008, therefore we won’t see a secondary market collapse. Demand is at an all-time high while inventory is at an all-time low, couple that with historically low interest rates and I foresee additional room for growth.
Matt Nader; Branch Manager, First Home Mortgage
Why should I add institutional real estate to my portfolio?
Exposure to institutional real estate funds makes a lot of sense right now as a measure of protection against inflation. It also provides retirees a substantial monthly income stream and has low correlation to the stock market. By having a piece of your portfolio in Institutional Private Equity Real Estate (IPERE), you are lowering your overall volatility and investing along side some of the nation’s largest endowment and pension plans. Contact us today to learn more about adding real estate funds to your portfolio! BrionHarris@PremierPlanningGroup.com or 443-837-2529.
Brion Harris; Premier Planning Group
Premier Planning Group is an independent firm. Securities offered through Cetera Advisor Networks, LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. Brion Harris • CEO • Founder • Financial Advisor
115 West Street, Suite 400, Annapolis, MD 21401 • 443-837-2520
When is the best time to buy or sell real estate and what do we do if we think we need to do updates or repairs before the property goes on the market?
Due to the historical record setting low inventory of homes available for sale, the seasonal market has not had much bearing on today’s activity as we’ve seen in the past. As the market starts to settle and become more balanced, this may adjust back to the surge of homes coming on the market in the spring and fall creating increased competition for sellers and more choices for buyers. Timing the market depends on what is truly best for your own individual situation to make that decision. To get the best guidance and advice, consulting an experienced local realtor is the first step. Before undertaking any updates or repairs let us advise you of the most up to date marketing recommendations. We even have partners that will make renovations or licensed repairs to your property and delay the cost until closing. Most importantly, this way you have marketing expertise and guidance as to what is necessary and the best choices to increase your property value and avoid wasted time and money.
Christy Bishop; Berkshire Hathaway HomeServices PenFed Realty
When is the right time to get prequalified for a mortgage when considering buying a home?
Right Now! It’s not a question of whether you can or cannot qualify, it’s about being prepared and positioning yourself in the very best place possible in this competitive housing market. Getting this accomplished before looking at potential homes will give you the confidence to move forward quickly when the right home comes along. It is a regular occurrence that I get the panicked call on a Sunday evening saying, “we just found our dream home and need a pre-qualification letter.”. Not a problem as I work weekends but like all things in life, being prepared is key!
Wes Tower; Atlantic Prime Mortgage
What would you say is the most important factor to consider when selling a waterfront property?
In order to generate the sizzle when you first list your home you need to price it right, make sure your home is polished up so it shines and don’t forget high quality aerial photos. That said, the key factor is to make sure you hire a brokerage that effectively targets the Washington D.C. / Metro market. Recent sales data indicates that most premier waterfront properties are sold to buyers who are migrating this way to experience the Annapolitan lifestyle.
Brad Kappel; TTR | Sotheby’s International Realty
What happens after a real estate closing?
Post-closing is an underappreciated aspect of commercial and residential transactions. The recording must be tracked through the recording process with recordation confirmed by our staff. Releases of existing mortgages must be obtained and recorded. Title policies are prepared and distributed to buyers and their lenders. 1099 tax forms are prepared and sent to the IRS. Third parties, including surveyors, appraisers, environmental professionals, lenders, etc. all need to be paid, either by wire or overnight delivery of a check.
Brad Walsh; President, Eagle Title
Can I sell my investment real estate using a 1031 exchange and buy a vacation home that I can enjoy with my family during the summer months?
No. You can sell your investment real estate and reinvest the gain, tax deferred, to purchase your vacation or second home, the challenge is making sure it will qualify as a 1031 investment property. Meaning that during the initial 24 months of ownership there are strict rules to follow regarding personal use. The important rule is that you can only use the property for 14 days each year or 10% of the actual days that you rent it out. For example, if you lease it for 200 days each year, your personal use can be up to 20 days. If you are able to abide by these rules, after two years the dream vacation home is yours to use as often as you like without any more requirements.
Jack Papaleonti, GRI/Realtor® Academy Realty
With the ability to search for homes online myself, why should I hire a buyer’s agent?
The Internet has made it easier for buyers to tour homes online and narrow down their list. The seller of the home pays the commission of the buyer’s agent, so it doesn’t end up costing you anything as the buyer, but it can end up saving you time and money by having the guidance of an agent. The closing process for a buyer is quite involved from the home inspection and the loan to all the paperwork and coordination—all the steps to get you to a stress-free settlement. Buying a home is an exciting time, so you should enjoy it and leave the less fun parts to the agent!
The David Orso Team of Berkshire Hathaway Home Services | Pen Fed Realty
How can I take advantage of a 1031 Exchange in 2022?
Own an investment property that has appreciated substantially in value? If you do, when you go to sell that property you will owe a lot of tax on the gains. To avoid paying that tax, you can take advantage of a 1031 Exchange which allows you to roll the proceeds from the sale of your investment property, tax free into a commercial real estate property. Not only do you avoid the tax, but you no longer are managing the property or dealing with a renter, but you are still creating rental income on this asset. Sound too good to be true? It isn’t! Contact us today to get more information on a 1031 Exchange! BrionHarris@PremierPlanningGroup.com or 443-837-2529.
Brion Harris; Premier Planning Group
Is staging still important in a strong sellers’ market?
Absolutely! Even though buyers know they are competing in a strong sellers’ market, they are still looking for the little things to differentiate the home they are going to purchase. No matter what type of market, sellers’ attention to detail in preparing their home for sale will attract the most buyers and will ultimately reward the seller for their efforts.
Scott Schuetter; CENTURY 21 New Millennium
What is the first thing I should do to get ready to sell?
Organize and declutter. This will not only help you with the sale of your home but on the opposite side when you move. We all have those pesky items that we have been meaning to do. Take a moment to start those projects now and you will thank yourself later when your home is on the market.
Jennifer Chino; Stahley Thompson Homes of TTR Sotheby’s International Realty
Has branding your real estate division as NDG Home Team changed the way you work?
We have new team members onboard and there’s definitely a new energy. They’re eager to learn, and with 29 years of experience, I have a lot to share. But, it still feels like a family to me and the business will always be based on building personal relationships and trust. 98% of our customers come to us through personal referrals. There’ll always be customers who think they can work without an agent, but, you know what they say,“A Man Who Is His Own Lawyer Has A Fool for a Client.” That’s true for real estate, too.
Linda Giuffre; Realtor® NDG Home Team
What are the qualities I should look for in selecting a Realtor to work with?
Things that should matter...An agent’s dedication to their business as a full-time Realtor and their dedication to making your real estate goals a reality. Request the agent’s track record for the last 12 months, don’t be afraid to ask for references and what their reputation in the industry is. (Networking among our peers is crucial to a Realtor’s success). Ask for a 90-day business plan in writing for your sale or purchase. Keep in mind this is a business transaction and make sure you handle it exactly that way (you can become friends after the transaction). Ask for a realistic “days on the market” strategy and a marketing game plan when listing your home. When buying a home, make sure you meet and interview to decide if all the personalities mesh. Most of all make sure you select an adequate and knowledgeable guide and advisor to one of your largest purchases or sales.
Christina Janosik Palmer; Christina Janosik Palmer Group of Keller Williams Flagship of Maryland
Why should I choose a Waterfront Specialist to sell my home?
Your waterfront home is one of your largest assets. As you consider whom to trust with your unique property, you should think about their qualifications. Just as you wouldn’t sell your Picasso at the local consignment store, make sure your potential agent understands the nuances of waterfront properties and how to attract buyers in a global market environment. Ask how many waterfront transactions they completed last year? Does the agent have a website dedicated to waterfront and water-oriented properties? When you enter “Annapolis Waterfront Homes for sale” into a search engine, who shows up? Make sure you list with a Waterfront Specialist who ensures your property gets the attention it deserves!
Reid Buckley; Waterfront Specialist; Mr. Waterfront Team of Long & Foster Real Estate
What’s happening in the waterfront market?
In 2021 the lack of inventory continued to drive record-high sales prices, with buyers trying to outbid one another. Total Anne Arundel County waterfront home sales grew 58% from $421.4M in 2019 to $669.2M in 2021. The average waterfront home sale price went up 40%. Even during the winter months, market activity has remained steady, which indicates that we still have a lot of buyer demand but are severely starved for inventory. We anticipate a shortage of waterfront units in 2022 as well, so sellers can continue to expect top dollar for their waterfront property. If you are thinking of selling your waterfront home, it’s hard to beat the current seller’s market!
Steven Arcé; Waterfront Specialist; Mr. Waterfront Team of Long & Foster Real Estate
You’re new to the business.How did you start your career in Real Estate?
I started out in Graphic Design. They seem quite different, but I’ve learned that both are about making good first impressions. I’m thrilled to be learning from the best in the business. My mentors at NDG Home Team are vested in my success. I get to learn from experienced professionals from diverse backgrounds, who all share the same values. I’ve realized that who I work for can make or break my career and I’m really confident that NDG Home Team will be crucial to my success.
Esther Mauk; Realtor®; NDG Home Team
What happens if I sell my home but I don’t have my next home secured?
If you decide to sell your home first without finding another home, you can negotiate a temporary rent back from the buyer so you can be non-contingent on the next home while giving you time to find another home. You can also negotiate a home of choice contingency when selling your home. Furthermore, there are ways to get creative with your financing and you should consult with a knowledgeable lender to discuss your possible options such as a bridge loan so you can purchase a home prior to selling your home.
Diane Mallare; Diane & Crew of Taylor Properties
What are the top things a Seller should concentrate on improving to get the biggest return on investment (ROI) when preparing to sell their home?
Kitchen renovations, bathrooms, lighting, paint, and landscaping will all help with resale! Use classic, timeless, neutral and natural finishes to maximize ROI. In some cases, cleaning, manicuring the yard, organizing and/or staging will cost less and yield results over expensive, time-consuming updates. Buyers are attracted to spotless, well-maintained homes so something as simple as repairing or replacing inoperable items can go a long way toward buyer impressions. Work with your Realtor early in the process to develop an exit plan containing recommendations specific to your property, budget and timeline because no two home sales are alike.
Donna Ball; Diane & Crew of Taylor Properties
What services and skills should I expect from a listing agent?
You should expect to receive detailed advice on preparing your home to get top dollar, and be provided resources for making improvements like repairs, painting, landscaping, and decluttering. A top agent will be certain your home is show-ready and provide the staging, professional photography, and compelling description essential to getting buyers interested. It helps to look closely at an agent’s prior listings. Expect to receive a robust marketing plan, information on comparable property sales, and regular feedback. I also like to provide a detailed floor plan and community information. Finally, be sure the agent you hire is readily available and responsive.
Sarah Greenlee Morse; TTR Sotheby’s International Realty
Should I still prepare my home for sale and make improvements in this crazy market?
Even in this hot seller’s market, the little things can still make a huge difference when it comes to preparing your home for sale. The end goal of sellers is to achieve the highest price in the shortest time frame, and that requires strategic planning on the part of the “Home Team”. An experienced listing advisor and licensed contractors will work together with the seller to ready the home to hit the market. Repairs, purging, organizing, and cleaning are key to presenting a crisp, bright, and welcoming home allowing buyers to envision themselves in the space. Otherwise, they are clouded by concerns and create a “to-do” list that distracts from the overall appeal of their potential new home. Strategy and spending a little out of the gate can definitely pay off at the settlement table.
Tonia Falkowski; Engel & Völkers Annapolis Real Estate Advisor
As someone looking to buy a property at the beach, why should I work with a Realtor® who specializes in vacation/investment homes?
Especially in this fast-paced market, where properties are turning over quickly, it is best to work with an experienced local agent who specializes in investment/vacation homes. It is important to understand the local lifestyle market and know which communities will best fit the Buyer’s needs. Buyers will often purchase a second home as an investment so they also rely on our expertise to provide them with in-depth local market insights and rental projections, cap rates, short-term rental regulations, and zoning restrictions. This knowledge is key when purchasing your vacation home or investment property.
Mary Rice; Engel & Völkers Ocean City Real Estate Advisor
What can I do to attract more showings and possibly receive multiple offers on my home?
Taking the time to get your home in
prime condition is so important. A qualified Realtor will have the resources to guide you to be the hottest house in town. Buyers want new paint, new flooring, upgraded baths, and great new upgraded kitchen with updated appliances.
Giving your home a facelift prior to entering the market will pay off in price, a short time on the market and the possibility of multiple offers.
Christina Janosik Palmer; Christina Janosik Palmer Group of Keller Williams Flagship of Maryland
Very few people succeed fast in real estate. What’s your secret?
My work in a non-profit helping adults and children with disabilities honed my communication skills and empathy. To succeed, I needed to build relationships. As finance manager, I negotiated grants and complex contracts. That experience equipped me to deal well with the financial end of real estate. I had some real estate experience, but NDG has a very different business model. We share ideas and talk everything out. If I have a complex challenge, I just ask and I get help from people from different backgrounds who bring years of experience. So, it’s more like it’s our success, not just mine.
Kelly Hoffman; Realtor®; NDG Home Team
What impact could inflation and rising interest rates have on our local real estate market?
Historically, higher interest rates mean higher monthly payments which results in fewer buyers qualifying and lower demand. Inflation changes things: however, looking at mortgage rates relative to inflation, rates are still cheap. We also have dramatically increased rental prices which can give many tenants a pause and consider buying. Today’s interest rates still lead to a mortgage payment that is 10% to 20% lower than what a tenant might pay for a comparable home.
In the last 365 days in Anne Arundel County, nearly 11% of all sales were cash which means 89% required financing of some sort. Obviously, higher rates can have a negative impact and especially so if they rise beyond inflation. My prediction is that we will see rates continue to go up and down a little and perhaps be in the mid-4’s by fall. This would more than likely create a bit more balance in supply and demand. The bottom line is that it is still a great time to sell, and it is also a wonderful time for buyers as rates are still historically low.
Dominic Cantalupo; Associate Broker/Manager; Long & Foster Real Estate, Inc.; Crofton/Bowie Office
How do ‘Real Estate Teams’ work?
Teams are structured in infinite ways and since hiring a Realtor, or fiduciary, is serious business you need to know who you’re hiring and what you’re getting! If your agent is part of a team, he/she represents you! There may also be Administrative assistants, photographers, stagers & other professional Realtors on the team, but that is to allow your specific, hired, Realtor more time to focus on you where it counts such as marketing strategies, networking, and negotiating! No one can do it all, but a Team just might be able too! Two or more heads is always better than one!
Dee Dee McCracken; Coldwell Banker Realty
What’s the first thing you should consider when designing your home?
One of the most important things to consider is how each space will be used. Work with an interior designer to help you identify areas which will have the most traffic, where you will entertain, which spots will serve double duties and where you will relax. Then select the best furniture and placement throughout your home, appropriate fabrics and other materials, and develop color schemes. And don’t forget to enjoy the process!
Fiona Newell Weeks; Dwelling & Design
Can I better prepare for the emotional ups and downs that comes with buying and selling real estate?
It is emotional for home Sellers & Buyers! Where will I live? What if they criticize my home? Do I need to paint? Where do I start? What if the septic fails? What about my credit score? We want totally different things! I don’t think I can compete? Can I trust the inspection? How much cash do I need to close? I never even got to see it! UGH!
Having a Realtor on board will diminish fears, offer knowledge, and prepare you with guidance, advise, and expertise. A professional problem solver navigates with experience, calming the storm of emotions, helping you to reach your goals!
Lisa Barton; Coldwell Banker Realty
What do you believe is the most important aspect sellers should consider when they are selecting an agent to sell their home?
Image SELLS. Make sure you dig into what the agent plans to do to ensure your property stands out. We live in a fast-paced, digital society making it more important than ever to have a strong, clear image. When meeting with agents be sure to ask specifically what they are going to do to craft your image which takes shape as your online presence. Buyers are making their short lists of houses based off what they see online. It’s your property’s “First Impression” which can often make or break if a buyer requests a showing. This is true for all price points but is absolutely critical the higher the list price. Bottomline: Make sure your agent is market savvy as well as marketing savvy.
Tricia Wilson; Chaney Homes
