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Owings : Real Estate Advice

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Activity 5
Thu Aug 20, 2015
Christopher Pagli answered:
Having 4 bedrooms has more value then a master bath to most buyers, there will be a big difference in asking price.

Chris
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Fri Mar 6, 2015
Diane Christner answered:
Although I do not live in your area, I can say in general that if permits are required and homeowners do the work without the required permits, it can raise issues when you go to sell the home later on. Plus, your insurance company may not be willing to pay a claim should you have problems with the electrical or plumbing later on that were done without permits. Insurance companies are getting very picky about permits of late. ... more
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Sat Oct 15, 2011
Jannis Vann answered:
Keeping a 3 bedroom 2nd floor should not create any negative impact on the value of the house if the master suite is enhanced. The two full bedrooms in the basement takes care of keeping it a 5 bedroom home. Sounds like there could be several design options with the expanded space. Contact a designer/architect to see the best way to use or your newly incorporated space. Without knowing the design layout, I can't offer specific suggestions, but options would be a sitting area, larger master bedroom size, expanded bath/closet options. Lots of potential. Good luck. ... more
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Sun Oct 18, 2009
Kathy Dawson, GRI, MRP answered:
Hello Brooke,

Are you thinking of selling your home and purchasing a new construction?? I see that you are listed as a home seller and your question would suggest you are thinking of a new home in Calvert County. By the way, I love Calvert County! Let me know how I can help. ... more
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Wed Apr 1, 2009
Linda Fadely answered:
The really important question is not as much what the prices are, but what the Absorption Rate is. In other words, how long it will take to sell off all the inventory. If the Absorption Rate is 6 months, then we have a balanced market. If less than 6 it's a seller's market and if more than 6 it's a buyer's market. Currently the Absorption Rate in Owings, Maryland is at 14 months to sell off all the inventory. Today there are 44 homes listed for sale in Owings. That will change. However, a more accurate absorption rate can be calculated with more details about a home. For instance, is it a Colonial? Number of bedrooms, etc. You can focus down to small details and get an absorption rate for your particular property. The other question that needs to be asked is, "What are the odds of selling my home?" In general there is a 50-60% chance of selling any home that comes into the market. Presently, the odds of selling in Owings are 11%. If you are contemplating selling your home, you need a professional that can increase those odds, with the right Market syntax - packaging, pricing and promoting - all in that order.

If you're waiting until the prices of the last boom come back, I can tell you, it won't happen again anytime soon. Too many factors caused it that will not be allowed to happen again. However, if you are thinking of moving, now could be the best time to sell as the rates are great and while you may not get as much for your present house as you think it's worth, you can make up the difference on the other end and get a great deal on a house that if you waited for your value to come back, you'll pay more for the next house.

I hope this helps. Feel free to contact me if you wish a more accurate Absorption Rate based on your particular property.
... more
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