Sale-to-List Ratio
This is an important number to pay attention to when choosing a REALTORยฎ. The percentage is calculated by what a home was initially listed for, divided by the actual sale price. The closer an agentโs percentage is to 100, the better. If itโs low, that could be an indication that they routinely list homes too high.
Median Days on Market
The median days on market is the midpoint of how many days it took for homes in that area to sell. If itโs 30 days, then half of the homes sold quicker and half took longer than 30 days. If you compare the Baltimore real estate youโre considering to its areaโs median days on market and you find that itโs been on longer, the sellers might be willing to take a lower offer.
Distressed Property
Properties are listed as distressed when the owners have defaulted on their loans or are about to. As a buyer, you might be able to get a good deal on a short sale or a foreclosure, as banks usually list them below market value to try and recoup some of their loss.
An Active Versus Pending Status
If you find your dream home and then notice that it has a pending status, brace yourself for disappointment. An active status on a home means the owners are accepting offers, while a pending status indicates that theyโve already accepted an offer. If you know itโs the one for you, you can still place a bid in case the first offer falls through.
Donโt let the month of April turn you into a property fool. If youโre looking to purchase Baltimore real estate, please let us help you cut through the jargon.
If you are considering selling your home, be sure to contact us at (443) 274-4031 or email us at info@bwpmd.com so we can provide you with a Fair Cash Offer on your Baltimore house.
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