One of the most enjoyable aspects of our job as real estate agents is the opportunity to see and experience an extensive variety of homes. It never ceases to amaze us how the broad spectrum of styles and wildly differing budgets can all cumulate in what each family makes as a happy home. For some, a 900-square-foot bungalow decorated with yard-sale treasures is just the ticket, whereas others find comfort in a 10,000-square-foot waterfront estate, decorated to a T with the finest furnishings.

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Our first Realities of Real Estate column was published in September 2008. It was an exciting, or as some might put it, a terrifying time to write about real estate. During that month, the financial markets began to unravel when they could no longer contain the pressure released by a bursting real estate bubble. Lehman Brothers filed for Chapter 11, and a few days later, the stock market experienced its largest point drop ever, falling almost 780 points in a single day.

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How agents can represent someone varies from state to state, and depending which real estate company you employ, specific buyer or listing agent agreements can also vary. In the past, agents only represented the seller, and that was it. Today, it’s very different.

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Once you’ve made the decision to buy a new home, part of the excitement is in the thrill of the hunt. Somewhere out there is the home of your dreams. It’s a basic instinct to be motivated by the discovery of something special and the hope that you’ll score big with a great buy.

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When you purchase a home, there’s more to your monthly payment than just the mortgage, as well as costs that can go beyond normal maintenance and repairs. These days, some expenses associated with home ownership have risen so sharply that people are now giving a closer look, things like utility bills and taxes. Although not all of these expenses are applicable to every home sale, we’ll take you through the most common ones, so they don’t come as a surprise at the settlement table.

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In 1597, Sir Francis Bacon said, "Knowledge is power." To many, this simple quote is more commonly thought of as a contemporary phrase and perhaps better suited for today's technologically driven information age.

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To borrow a phrase from former Secretary of Defense Donald Rumsfeld, the recovery in real estate has been a “long, hard slog.” And to cite an expression attributed to many throughout history, “Those who forget the past are condemned to repeat it.”

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Every day, we look at dozens of listings on the multiple list system. Many times, we’ll just go right to the pictures; it’s the quickest way to determine if the house is something one of our clients might want to see. Buyers do pretty much the same thing, as they get on any number of websites to see what’s for sale. Consequently, the pictures associated with a listing can become one of the most important elements in attracting a buyer and avoiding the dump heap of also-rans that failed to separate themselves from the rest of the pack.

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In this area, the relationship of a property with water (meaning the Chesapeake Bay and its tributaries) has a lot to do with its value. An old shack inland might be worth next to nothing, whereas the same house on the water might morph into a million-dollar estate. In short, there is little in real estate that can have more impact on the price of a house than the ability to access, use or simply look out upon the water. Nevertheless, water features are one of the most confused and abused aspects of local real estate.

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Now that we’ve dodged the bullet on what is hopefully the last threat of snow for the season, homeowners contemplating a move are turning their attention to spiffing the place up for sale. When it comes to the projects a seller might consider, they can be divided into two categories — major ones, where you’ll most likely need to hire a contractor, and minor ones, where Harry Homeowner can usually get the job done. So, let’s take a look at both types and help you get a handle on what’s worth doing and what’s not.

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