Blogs from our community of Real Estate Professionals...
Press Release: EXIT Mid-Atlantic Realty Region Announce the Grand Opening of EXIT Results Realty in Elkridge, MD.
|Posted by Megan Gaskill on April 10, 2017 at 4:45 PM||comments (0)|
Rick and Carol McDaniel, Regional Owners of EXIT Mid-Atlantic, joined over 100 people to celebrate the Grand Opening of Jim and Tina Hyatt’s new EXIT Results office on March 16.
Jim and Tina Hyatt (Broker/Owners of the EXIT Results Realty) relocated offices from Colombia, MD to Elkridge, MD. The new office includes individual conference rooms, a state of the art training room, and a beautiful reception area. In attendance with the Regional Owners were John Steffey, Director of Franchise Sales, and many EXIT Brokers and Agents.
“Jim and Tina Hyatt have the highest productivity per agent in our EXIT Mid-Atlantic Region. Rick and I are so proud to have them in our EXIT family!” exclaims Carol McDaniel, Regional Owner.
|Posted by Matthew T. Smoot on February 15, 2017 at 12:35 AM||comments (0)|
Knowing what the law says about disclosure is an important part of the real estate sales process. You need to be aware of what you are expected to disclose to potential buyers, both to avoid breaking any laws and to help you better plan your sales process. Of course as a real estate agent you want to present the best points of the home you're marketing to fetch the best price, but you also want to avoid potential lawsuits by following the letter of the law.
Things To Disclose about Homes For Sale
Repairs and renovations
Major issues with the home
When You List with Smoot, You Sell with Smoot
|Posted by Matthew T. Smoot on February 5, 2017 at 2:10 PM||comments (0)|
A home invasion occurs every thirteen seconds in the United States. This alarmingly high rate means it's essential to safeguard your home from burglars by investing in a home security system.
Know potential threats and emergencies relevant to your location.
If you live in the Midwest, tornados are a bigger threat than floods. If you live in California, earthquakes are a real danger. Teach your family about the natural threats common to your location and what to do should one occur. Having a plan and instinctively knowing what to do can save your life in the event of a disaster.
Inspect your outdoor lighting.
Make sure to check your outdoor lights to see if any need to be added or replaced. Well-lit homes help deter burglars and prevent accidents.
Every month, inspect your home for signs of broken or damaged items. Make sure your roof, basement, attic, pipes, and foundation are in good condition. Check your door locks, garage door, and windows for any broken parts. Regularly fixing up your home will help maintain its value and keep it in great condition.
An average of $12 billion in personal property is lost in fires each year. Protect your home and personal items by routinely testing your carbon monoxide and smoke detectors. Not only will this protect your home and property, but it can also save your life.
Check the pressure gauge to see if the needle is in the green, and replace or service it if it isn't. Also examine the hose and nozzle for cracks, and you'll need to replace your fire extinguisher if the handle is missing the locking pin or is broken. Should a home fire occur, you will be prepared to handle the situation because your fire extinguisher will be in great working condition.
Discuss what everyone in your home will do in case of a disaster. Talk with each family member about their responsibilities, where you will meet, and how to communicate with one another. If communication lines are down, it's important to have a central meeting location established so everyone can meet and regroup. Discuss different disaster scenarios and come up with a communication and action plan that everyone knows and can enact if necessary.
Keep contact information on hand in case of an emergency. While you may keep numbers in your cellphone, it's smart to keep a hard copy of key contacts in your home. This list can include your primary care physician, poison control, and a trusted neighbor.
Keep 72-hour emergency kits in your home and car.
The CDC recommends putting together an emergency kit that includes the following.
- One gallon of water per person, per day
- Non-perishable food that is easy to prep
- A can opener
- Important medication
- A radio
- Toilet paper
If you need to file an insurance claim after a blizzard or burglary, it'll help to have an itemized inventory for your valuable home goods. Store instruction manuals, serial numbers, and important receipts in files that you can access easily when needed.
When You List with Smoot, You Sell with Smoot
|Posted by Jenelle Kirton on February 1, 2017 at 4:10 PM||comments (0)|
Rick and Carol McDaniel, Regional Owners, EXIT Mid-Atlantic, are very proud of the many Agents and Brokers within our region who were named one of EXIT Realty’s Top 100 producers for 2016.
It takes a lot to reach the levels they attained last year. We are happy to have them with our Mid-Atlantic region and as part of the EXIT Realty Family as a whole. These Agents and Brokers worked hard, and being part of this list is well-deserved recognition of that effort.
We want to take a moment to formally recognize our knowledgeable associates for all of their hard work, and their dedication to their buyers and sellers.
Those Agents and Brokers within our humbled EXIT Mid-Atlantic region who were recognized for Closed Deal Sides were:
Gregory Vurganov, EXIT Preferred Realty (MD) with 173.85
Tim Smith, EXIT Preferred Realty (PA) with 143.66
Corey Lancaster, EXIT Right Realty (MD) with 105.60
Jim Hyatt, Jr. EXIT Results Realty (MD) with 93.33
Jeffrey George, EXIT Preferred Realty (PA) with 90.60
Boyd Grainger, EXIT Landmark Realty (MD) with 79.28
William Young, EXIT Results Realty (MD) with 73.70
Donna Heslop-Adams, EXIT Bennett Realty (MD) with 68.03
Kelly Steichen, EXIT Deluxe Realty (MD) with 62.66
Agents and Brokers reaching Top Gross Commission Income were:
Corey Lancaster, EXIT Right Realty (MD)
Jim Hyatt, Jr. EXIT Results Realty (MD)
Tim Smith, EXIT Preferred Realty (PA)
Boyd Grainger, EXIT Landmark Realty (MD)
Gregory Vurganov, EXIT Preferred Realty (MD)
William Young, EXIT Results Realty (MD)
“Special” Ed Haraway, EXIT First Realty (MD)
Christopher Underwood, EXIT Elite Realty (DC)
George Bryant, Jr., EXIT Elite Realty (MD)
Gilbert Poudrier, EXIT 1 Stop Realty (MD)
Robert Frey, EXIT Results Realty (MD)
“Congratulations to all, and thank you for being part of our esteemed group of real estate professionals,” commented Carol McDaniel. “We couldn’t ask for a better group of professionals who go above and beyond for their clients, and make excellent customer service priority one,” says Rick McDaniel. The EXIT Mid-Atlantic Region looks forward to many more successful years with these, and their many other, qualified associates.
|Posted by Matthew T. Smoot on January 27, 2017 at 1:10 PM||comments (0)|
- Attic Insulation (Fiberglass) (107.7% ROI)
Average Cost: $1,343
Average Resale Value: $1,446
- Entry Door Replacement (steel) (90.7% ROI)
Average Cost: $1,413
Average Resale Value: $1,282
- Manufactured Stone Veneer (89.4% ROI)
Average Cost: $7,851
Average Resale Value: $7,019
- Minor Kitchen Remodel (80.2% ROI)
Average Cost: $20,830
Average Resale Value: $16,699
- Garage Door Replacement (76.9% ROI)
Average Cost: $1,749
Average Resale Value: $1,345
- Garage Door Replacement (85.0% ROI)
Average Cost: $3,304
Average Resale Value: $2,810
- Entry Door Replacement (fiberglass) (77.8% ROI)
Average Cost: $3,276
Average Resale Value: $2,550
- Window Replacement (vinyl) (73.9% ROI)
Average Cost: $15,282
Average Resale Value: $11,286
- Window Replacement (wood) (73.0% ROI)
Average Cost: $18,759
Average Resale Value: $13,691
- Grand Entrance (fiberglass) (70.1% ROI)
Average Cost: $8,358
Average Resale Value: $5,855
- Bathroom Remodel (64.8% ROI)
Average Cost: $18,546
Average Resale Value: $12,024
- Master Suite Addition (64.8% ROI)
Average Cost: $119,533
Average Resale Value: $77,506
- Backyard Patio (54.9% ROI)
Average Cost: $51,985
Average Resale Value: $28,546
- Backup Power Generator (54.0% ROI)
Average Cost: $12,860
Average Resale Value: $6,940
- Bathroom Addition (53.9% ROI)
Average Cost: $43,232
Average Resale Value: $23,283
- Major Kitchen Remodel (61.9% ROI)
Average Cost: $122,991
Average Resale Value: $76,149
- Master Suite Addition (59.9% ROI)
Average Cost: $250,687
Average Resale Value: $150,140
- Bathroom Remodel (59.1% ROI)
Average Cost: $59,979
Average Resale Value: $35,456
- Bathroom Addition (57.1% ROI)
Average Cost: $81,515
Average Resale Value: $46,507
- Deck Addition (composite) (56.4% ROI)
Average Cost: $39,339
Average Resale Value: $22,171
Matthew T. Smoot-Your "Whatever it Takes" REALTOR® When You List with Smoot, You Sell with Smoot
|Posted by Matthew T. Smoot on January 19, 2017 at 11:40 AM||comments (0)|
FHA raised premiums several times since the recession to keep its Mutual Mortgage Insurance Fund (MMIF) afloat, at a considerable cost to borrowers, and, according to the National Association of REALTORS® (NAR), to the detriment of housing; research by the organization shows that the increases priced out approximately 1.5 million renters. The Fund's capital reserve ratio is now at 2.32 percent, above the 2 percent requirement.
HUD expects the new reduction to help 1 million households. FHA last reduced premiums in January 2015, which saved 2 million FHA-insured borrowers an average $900 annually.
When You List with Smoot, You Sell with Smoot
With over 11 years in the business I offer my clients the most comprehensive representation in Maryland. Not only am I a REALTOR, but I also hold a Broker's license, which is the highest and most specialized license a REALTOR can hold. Customer Service is my Priority, Selling Houses is My Goal! Contact me for any and all of your Real Estate Needs. 443-504-8930
|Posted by Matthew T. Smoot on January 13, 2017 at 2:55 PM||comments (0)|
The new year is here and with it comes new factors which can and will affect real estate throughout the year. Below you will find what the experts are expecting in 2017. Keep an eye on the following:
While interest rates are still some of the lowest they've been in years, they are increasing and will be a motivating factor for buyers early in the first quarter, especially since 95 percent of first-time homebuyers are dependent on financing. Expect them to act quickly and lock-in reasonable long-term loans enabling them to make long-term buys.
Nationwide, home prices are forecast to slow to 3.9 percent growth year-over-year, from an estimated 4.9 percent in 2016. The biggest shift will occur in the ultra-luxury market, especially in urban environments with a massive construction boom, where the highly accelerated and unsustainable growth for the past five years lead to inflated asking prices and declining absorption rates.
Due to escalating rents and inflated home prices in the coastal cities, millennials are drawn to the Midwestern markets because they have a lower cost of living coupled with tremendous job growth. Midwestern cities claimed 42 percent of the millennial purchase market share in 2016, much higher than the U.S. average of 38 percent.
Their primary interests are long-term growth opportunities, a luxury lifestyle and security. Moving forward, prime coastal locations will remain strong but the trend of international buyers expanding their searches and taking a serious look at new locations will continue to accelerate.
With the anticipation of stronger economic and wage growth in 2017, home sales could exceed 6.3 million transactions, a significant increase from 2016. The GDP growth is forecast to be 2.1 percent with a 2.5 percent increase in the consumer price index, while unemployment is expected to decline to 4.7 percent by the end of 2017.
When You List with Smoot, You Sell with Smoot
|Posted by Jenelle Kirton on January 9, 2017 at 5:30 PM||comments (0)|
Annette Anthony, Real Estate Technology Expert, joins the Mid-Atlantic region on Wednesday, January 11th for a 2 session seminar geared toward business plans, leveraging contacts and how to use technology to dominate your market. Each session has been designed to speak specifically to Brokers and Agents respectively.
Show up to also find out about the latest in virtual reality technology in real estate. Great photos from your laptop or tablet are great, but is it possible to have a home tour from your office that makes the buyer feel like they are actually in the home? Join us Wednesday to find out…
|Posted by Jenelle Kirton on December 29, 2016 at 9:20 AM||comments (0)|
Automate your saving. It is hard enough to save money when you have other bills and expenses, however, it is even harder when you have to make that choice between spending the money in your checking account or brushing a little aside for saving. Go with the theory, ‘if you don’t see it, you won’t spend it.’ Automatically have a portion of your checking account transfer into a savings account, that way when you check your balance to take care of day to day business, you are spending what’s available minus your savings.
Get that score up. Your credit score is a crucial part of getting any type of loan, especially a home loan. For those with 600 and below credit scores, there are a few companies who will grant you a credit card, although they may request a small down payment. These cards are a great way to work on obtaining credit and increasing your score. If you have reasonable credit debt, don’t pay it all off, pay on it each month keeping the balance to about half, or less, of your available credit. In addition, go ahead and set yourself reminders to pay your bills by their respective due dates.
Window shop: Don’t wait until you are ready to buy, go ahead and start looking around now to see what is available in your desired area and what the prices are. The more you know about what you can afford and what is available, the better prepared you will be when you are ready to work with a realtor. Having a realistic “must-haves” list in the area you want to live in will go a long way to helping you find your dream home.
|Posted by Jenelle Kirton on November 29, 2016 at 4:10 PM||comments (0)|
2017 is expected to be the year of the newbies. First time homebuyers are being slated to dominate the housing market…are you ready to support their not so ordinary needs?
According to Jonathan Smoke for Realtor.com, first-time buyers are more than three times more likely than a repeat buyer to say that they lack the funds for a down payment. Likewise, they are 2.9 times more likely to be held back because they are subject to the terms of a lease. And they are 2.7 times more likely to say that they need to improve their credit score.
A couple tips he has for first timers are these:
1. Understand the importance of improving your credit score, to ensure you can qualify for the lowest mortgage rate.
2. If you think you need to put 20% down, because that’s what your parents did? Think again. It is possible to get a mortgage with less than 5% down. The average down payment in the U.S. so far this year (through September) is 11%.
Get yourself ready for the coming wave of homebuyers and bone up on what their needs might be. Prepare to position yourself as their ally and most reliable source of information as they navigate their way through the homebuying maze.