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From where I sit; perched in front of my beloved MacBook Pro, drinking my favorite Mayorga Coffee – the state of the current real estate market in Maryland appears STRONG! This, my friends was a fan-f’ing-tastic week for your boy. And, once again, this week proved my real estate investing formula is still a formula that works. <—- and works well!

So how about a recap?

House Number 1: I told you all how I lost my buyer for the house in Glen Burnie. Like a little lamb; so demure – the buyer waited until day number 30 of the contract to let us know that she wasn’t interested in buying the house, then she had the unmitigated gull to ask for her deposit. We were obviously forced to re-list the property. I did on so on last Thursday night; Mrach 4th. By Saturday we had 5 showings, and one week later; this Thursday evening, we had two VERY solid “above asking price” contracts. We accepted one, ratified it, and we’re on our way (again) to settlement.

And to you; Miss Cold Feet – I want to extend my sincerest and warmest thanks for not buying our home. Thanks to your complete lack of integrity, I will make an additional $10,000.00. Not bad for a week’s work.

House Number 2: Our cute little rehab in Parkville went on the market last Saturday, March 6th. I don’t normally put houses on the market on a Saturday, but in this case, I thought, “F-it”, I’m gonna go for it. By Monday morning we had several showings, and by Wednesday, I had a fully ratified contract for $5,000 above asking price. Mmmmm….can ya feel it? God, I love when the stars align and a plan comes together. I knew Craig Fuhr-style house would go fast, but I never dreamed that we would have such a huge amount of interest in such a short period of time

House Number 3: My crowing glory and my greatest rehab yet in Hamilton went on the market on March 5th. I really struggled on pricing the beast. I originally put it on the market at $225,000, then, in a Sybil-moment, I immediately reduced it to $216,000. Man, I slept rough that night. The next morning I got on the phone with my partner, Bob Norton – and he affirmed my gut instinct that I should have left the price at $225,000. I immediately increased the asking price back to $225,000. Its a roller-coaster, Baby! Keep your hands in the car until it comes to a complete stop and, Enjoy The Ride.

It was a good thing I did make the change, as we had two competing contracts by the end of this week. One was full price with $10K Seller-help, the other was full-price with no seller help. Which one do you think we accepted? C’mon, just shout it out! No need to raise your hand.

So what’s the moral of the story:

1.  My real estate investment formula works well.

2.  The buyers are out there people! At times this week, it felt like 2004 again. I know I do incredible houses, I know I do them in places where people want to live, and I know I price them right – but damn – multiple showings in one day? Multiple offers and above asking? The buyers are out there. If you have rehabs, you better get ‘em on the market soon!