The difference might just be in the details.
With Metropolitan Regional Information Statistics Inc. indicating that homes take an average of 80 days to sell in the Baltimore region ? nearly a month longer than last year ? real estate agents are looking for ways to set their clients homes apart from the rest. One of the most popular ways to do this is to emphasize luxuries or add-ons that are available with the property.
By investing a little money into the home while they lived there, sellers can help tip the scales in their favor.
“Sellers [need] to motivate buyers, they need to offer value,” said Gary Hoffer, a Century 21 broker and owner in Carroll County, and host of a weekly real estate radio show on 680 AM. “That is, they have to offer more than other homes do. Having a Jacuzzi, a built-out fun room or new carpet, these things separate homes.”
One reason for the need to separate from the competition is the glut of inventory in the market. According to July?s housing statistics from the Maryland Association of Realtors,Baltimore City has the highest inventory of any area in the region with a surplus of 5,700 properties ? third most in the state.
The average cost of a home in the Baltimore region was more than $331,000 in July.
“If you talk to the new home builders, they are crying the blues, and of course you get to pick everything yourself, but you pay double the transfer fee,” said Ilene Kessler, president of the Maryland Association of Realtors. “In the end, it depends on your pocketbook. Some people only want to buy new homes. … It doesn?t matter how many re-sales you show them.”
