REAL ESTATE QUESTIONS for a BOWIE REALTOR Q. I want a garage in my next home, but I don’t know what to look for or how to maintain a garage. Do you have any tips for a garage novice? A. The National Association of REALTORS recently published a guide on this very topic. It’s re-posted [...]
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By Margaret Woda, Long & Foster Real Estate, Inc.
Our regional multiple listing system, The Metropolitan Regional Information Services, Inc. (MRIS), tracks real estate sales and periodically makes the numbers available to members. I like to use this information to compile monthly charts and graphs to help you put those numbers in perspective. You may have seen them one one of my blogs, either Focus On Crofton or Maryland Real Estate Blog.
For this year-end report, however, I’m approaching the real estate market on a more macro level – with a county-wide report for the three counties where I list and sell homes. These numbers represent only properties that were listed on MRIS (the majority of real estate sales), both detached and attached homes, in a broad price range ($100,000 – $5 million).
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An updated kitchen (granite counters, upgraded cabinets, newer appliances and lighting) attracted us to our Bowie rancher in spite of its location on a busy street and the fact that it had only three bedrooms. Real estate agents tell me we’re not unique, and that updated Bowie homes often sell or rent much more quickly than homes with original kitchen and/or baths. But homeowners should not expect to profit from any remodeling costs – i.e., get back more money than they invest in the project.
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It was a mix of good and bad news for Bowie MD real estate in November 2009, as I look at the statistics published by MRIS for last month. These were my questions: How many homes sold? What happened to prices? How long did it take for homes to sell? And, for all of the above, how did November 2009 compare with November 2008?
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