Real Estate 101 – Letters of Intent

It's a crazy market out there! The Maryland Contract of Sale and all of the appropriate addenda for various inspections and jurisdictions, etc. can run to 40+ pages.  Even though most of it is boilerplate put together by lawyers, there are still a lot of blanks to fill in with … [Read more...]

Real Estate 101 – The Importance Of Having A Plan (Buying A Home)

Everyone knows this is a very favorable buyer's market.  Prices are down, Sellers are willing to offer concessions, lots of "short sales" and bank-owned foreclosures. All in all, a good time to buy a home. It's not like going out and picking up a pizza, thought.  You have to … [Read more...]

Real Estate 101 – The “Short Sale” Nightmare

There are a lot of houses, town houses and condos in the MD Suburbs of DC that are "short sales" and require "third party approval".  What's that all about? A Definition A "short sale" is a property owned by a Seller who can no longer afford their mortgage payments and wants to … [Read more...]

Real Estate 101 – Sales Price vs Appraised Value

When I talk to Seller clients, I often hear a lot of reasons as to why my clients want to value their house at a certain price: Sellers need the money to move to their next house, Sellers have made numerous upgrades to the house, Sellers don't want to "give their house … [Read more...]

Real Estate 101 – The Open House

I've written about the Open House concept on a variety of blogs and I always say that I'm not a real big fan of Open Houses.  Of course, Sellers really like the idea of an Open House and I can understand why.  After all, the Open House is steeped in real estate tradition. Back … [Read more...]