level small plates lounge

Located just a few blocks away from both the Maryland State House and the historic Dock Street area, Level in Annapolis really delivers an enticing culinary experience. Our first visit to Level came on a Friday evening and although the usual evening crowds were already forming, we only had to loop around the block once to find street parking in an ideal location. As we hit the second block of our two block walk to the restaurant, we were pleasantly greeted by wonderful aromas of our pending dining adventure.

Reservations are recommended, and we arrived around a half an hour before our time but were promptly greeted at the door by the hostess who took our information and explained our seating options. Upstairs was our choice, where we were again reminded of the popularity of the location by the sights and sounds of the many happy patrons.  Happy hour at Level is from 4:30pm to 7:00pm, Monday through Friday and features $6 cocktails and $5 - $6 select plates.

The drinks were fantastic! Upon recommendation, I went for the “Shot and Beer"…a canned Modelo Negro, served with a silver tequila and “El Vocho” shooter – definitely worth considering. We also ordered a smoked margarita, which turned out to be nothing less than extraordinary.

As we were waiting for our friends (who were convinced by the menu to drive over an hour to try it out), we decided to try our first dish of the night. Cuban Pork Spring Rolls it was and to say that it batted a great lead-off hitter to the night may be an injustice…but they were wonderful.

Once we were seated (actually five minutes before our reservation time) our friends joined us and we really let the food tour begin. Two drinks were ordered – the Incredible Hulk and the Pomegranate Caipirinha as well as a variety of dishes. Key information on Level is that they are known for having smaller servings with great attention to detail and us actually finding Level was due to typing tapas in Google. Armed with this tapas knowledge, we ordered the Piedmont Sheep Cheese Platter, Japanese Eggplant, Spicy Tuna Tartar, Grilled Quail, Hand Cut Fries and the Chorizo Pizza.

WOW! All were unique and great in their own way and although we did leave with full stomachs…we also left some with some great recommendations and plans to return in the near future.

POSITIVES: Extensive Drink Menu, Wonderful Food, Great Happy Hour, Unique Menu Choices, Great Service

NEGATIVES: Close Tables, Parking Challenges, Loud

Until next time, keep staying on Top of the Market -

Erik Hart

REALTOR®, BPI Analyst

Severna Park Sales

Long and Foster Realtors

410-544-4000 Office

443-889-6860 Cell

www.erikhart.lnf.com

February Market Update

A quick housing trend update for Anne Arundel County for February 2012.

(Note - All figures are compared to February of 2011)

Units Sold - 346, no change from last year
Active Inventory - 2595, down 24%  (3430 units)
Median Sale Price - $257,300, down 10% ($285,100)
Days on Market - 107, down 1%
New Listings - 731, down 1% (740)
Current Contracts - 594, up 38% (431)
Sold vs. List Price - 95.4%, down .6%
Months of Supply - 7.5, down 24%
(Months of supply is calculated by dividing current inventory by current sales. Months of supply indicates how many months would be needed to sell all of the inventory available at current rate of demand.)
If you are interested in a market update for your area, just let me know.

Until next time, keep staying on Top of the Market -

Erik Hart

REALTOR®, BPI Analyst

Severna Park Sales

Long and Foster Realtors

410-544-4000 Office

443-889-6860 Cell

www.erikhart.lnf.com

Short Sales News

I have recently had the opportunity to work with some short sale properties (from the buyer’s perspective) and since then have really dug in to find some more information to not only share with clients, but also just to be more knowledgeable around the much involved process. 

Some of you may be familiar with short sales, and some of you may not. Following you will find the basic definition of a short sale as well as some interesting and much welcomed news regarding short sales properties.

A short sale, as defined by Wickipedia, is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens' full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.

A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower; however both will often result in a negative credit report against the property owner.

And the welcomed news…

Short Sales Get Shorter: New Deadlines to go into Effect 

Daily Real Estate News | Thursday, March 15, 2012 

As part of a settlement with state attorneys general, the five largest mortgage services are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process.

Here are some of the new requirements for servicers under the settlement: 

• Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request.
• Servicers will be required to notify a borrower, also within 30 days, if any necessary documents are missing to process the short sale request.
• Servicers must notify a borrower immediately if a deficiency payment is needed to approve the short sale. They must also provide an estimated amount for the deficiency payment needed for the short sale.
• Servicers are also required to form an internal group to review all short sale requests.
• Banks will be considered in violation of the settlement requirements if they take longer than 30 days on more than 10 percent of the short sale requests. Violations can carry fines of up to $1 million and $5 million for repeat offenses.

“If a real estate broker can get a checklist from the bank detailing what documentation is needed, everything can be provided up front, and the bank will be required to give a thumbs-up or a thumbs-down within 30 days,” short sale specialist Chris Hanson with the Hanson Law Firm told HousingWire. “That’s not a bad deal.” 

Source: “AG Settlement Starts the Clock on Short Sales,” HousingWire (March 14, 2012)

Until next time, stay on Top of the Market,

Erik Hart
REALTOR®
Severna Park Sales
Long and Foster Realtors
410-544-4000 Office
443-889-6860 Cell
www.erikhart.lnf.com

Showings and Open Houses

Open houses and showings can be a great opportunity to not only showcase your property but also to receive some open feedback. Although this is obviously not an all inclusive list, the following tips made my “Top Ten” list of key tasks to complete in order to have a successful showing or open house. 

1. MOW YOUR GRASS AND TRIM THE BUSHES.

First impressions are essential. I have had many instances where a poorly landscaped yard does not match the nice interior…or vise versa. It is a fact however that a great way to turn a scheduled showing into a quick drive by can be the difference between a great yard and one that is not so great.

2. GET A PRESSURE WASHER AND DON’T BE AFRAID TO USE IT.

Also a first impression but maybe not so noticeable is that paneling that is in desperate need of a cleaning or the driveway that is stained.

3. A FUNCTIONAL DOORBELL CAN GO A LONG WAYS.

A door knocker that is polished and clean or a functioning door bell, or lack there of, can send a negative message. This is especially true if you are waiting on your agent to open the door of a property and the homeowner (who you thought was not there) announces that the doorbell does in fact not work…

4. PAY ATTENTION TO YOUR ENERGY SOURCES.

In the ever increasing push to be more energy efficient, heating and cooling mechanisms that appear to not make the mark or are in disrepair can raise many questions. Cleaning out fireplaces, replacing air filters and cleaning exposed duct work are a few tasks that are fairly quick and easy to complete.

5. DO DECLUTTER.

Everyone has heard it before, but clutter in a house sends a message of cramped spaces and sometimes dirtiness. Clean off the counter tops and organize those closets! If needed, do not be afraid to consider renting a storage space to temporarily get rid of extra items.

6. ENSURE ALL APPLIANCES ARE WORKING AND IMMACULATE.

Show off your appliances! All should be eye catching and a topic of conversation. The kitchen is usually the most expensive room in the house and should be treated as such.

7. GIVE YOUR SPACES DEFINITION. 

Short of putting up a table tent to name your master bedroom, it is imperative that you have rooms that have meaning. A formal dining area should have a table, a reading area or office should have a book shelf, etc.

8. HAVE A GARAGE SALE.

One of the best ways to de-clutter is to have a garage sale. Not only will you be able to open up some maybe much needed space in your house, but you will also make a little bit of money towards your upcoming move.

9. DISPLAY YOUR HOMES INDEX.

A great opportunity to really be a homeowner that appears to stand by the quality of the house is to have current and pertinent information on the property available for everyone’s review. The house profile sheet, surveys, appliance information, recent repair/utility bills are all good fillers for this binder.

10. BE AWARE OF ALL THE SENSES.

Potential home buyers always seem have a heightened sense of awareness when they are considering purchasing a property that most often times is the biggest purchase of their lives. Some soft background music along with a nice house scent can really capitalize on this increased awareness.

Having a focused plan that is consistent and focused will give you the best chance to really display all the positive attributes of your home during those showings or open house.

Until next time, stay on Top of the Market,

Erik Hart
REALTOR®
Severna Park Sales
Long and Foster Realtors
410-544-4000 Office
443-889-6860 Cell
www.erikhart.lnf.com

Patapsco Valley State Park

Root Steps

Troubled Tree

Having completed most of our “spring shower defense”, going out for the first official hike of the season was now looking like a well deserved break. Maryland has many great state parks to explore all across the state. Martinek, Gunpowder Falls and Sandy Point all offer some great recreational activities. For me, living in central Anne Arundel County, Patapsco Valley State Park, specifically the Avalon/Orange Grove areas, has always been one of our favorites to visit. Not only are there some great history lessons to be learned at the park – Bloedes Dam, The Swinging Bridge, and the Arch Bridge to name a few – but there are also some great hiking trails.

On this particular day we were going to hit the Cascade Falls trail.

Cascade Falls trail is located directly across from The Swinging Bridge. Although there is a nice initial up hill climb at the start of trail, this was my daughter’s first official hike and she made it at three years old. Once you get to the top of the switchbacks, you are greeted by what I like to call the “Root Steps”, a unique root display from one of the native oak trees. The trail then meanders towards the waterfall and pool. Today the running water could be heard from some distance away as the area had been saturated by a hovering rain storm for the past two days. Use caution when crossing this area as the rocks can be slippery.

Once above the waterfall, you have a choice of taking a left and going down the Valley View trail to the road or continuing on to complete the Cascade Falls loop.

Today we decided to stop and take some pictures and then wonder back down the hill to stop by the playgrounds.

Whether it be doing routine maintenance around the house or enjoying some of Maryland’s unique outdoors, until next time –

Stay on Top of the Market,

Erik Hart

REALTOR®
Severna Park Sales
Long and Foster Realtors
410-544-4000 Office
443-889-6860 Cell
www.erikhart.lnf.com

For more information on Maryland’s outdoors, visit:

http://www.dnr.state.md.us/

Home Inspection Tips

This is the scenario:

Your house is currently on the market with a competitive price. It is staged nicely and you have had many showings. Now a nice offer has finally came in from a qualified buyer.

Aaaahhh….finally. Now on to the home inspection.

Home buying and selling can be a stressful process. It can be even more stressful if you run into problems with your home inspection.

Checking off the below steps prior to your home inspection will not only show the inspector that you have made an honest  effort to maintain the home but will also reduce the chance of any last minute surprises and expenses.

1.   Clean out your gutters and remove any debris from the roof.

2.   Make sure your all water is diverted from the house – downspouts, gutters, condensation drains, and sump pumps should all be given some TLC. Grade should always slope away from structure. Also ensure that that your basement entry drains are cleaned out.

3.   Trim bushes, trees or any extra foliage back away from your roof, siding, chimneys and especially your foundation.

4.   Check your HVAC filters and replace if needed. Also ensure your return/ supply vents and plenum are clean and dust free.

5.   Check that your smoke detectors are in working order.

6.   Clean out your fireplace, woodstove and chimney and ensure that any contracted work is documented and given to the buyer.

7.   All plumbing fixtures – tubs, toilets, sinks, showers – need to be in proper working condition and leak free.

8.   If you have a sump pump, it needs to be in working condition.

9.   If you have light bulbs (smiling), they need to be replaced if they are burnt out.

10. Remove all solvents, paints, gas, dirty shop towels and anything that really should not be stored inside from your basement, crawlspace, attic, etc.

Obviously this is not an all-inclusive list but more of a “hot-list” that can be taken care of with little effort and cost.

Until next time, stay on Top of the Market.

Erik Hart
REALTOR®
Severna Park Sales
Long and Foster Realtors
410-544-4000 Office
443-889-6860 Cell
www.erikhart.lnf.com