If you have any questions or need more detailed information, please feel free to contact me via phone at 301.613.7253 or fill out the form to let us know how we can help with your real estate needs.
Friday, April 23rd, 2010 at 5:41pm.965 Views, 0 Comments.
Only a few short years ago, even Real Estate Agents did not know what a short sale was! My, how things have changed...
Banks have estimated that the majority of short sales will have been processed by 2014. More than 1 in 4 of all homes are now backed my mortgages that are worth more than the collateral that secures them: the homes themselves!
The Department of the Treasury recently put out a new progam called HAFA (Home Affordable Foreclosure Alternative), which should make things more standardized and efficient in regards to short sale transactions. Through shorter time frames and cash incentives to underwater sellers and unpaid mortgage servicers this program could help the negative perception which has come to accompany the short sale.
Tuesday, February 23rd, 2010 at 2:30pm.839 Views, 0 Comments.
Unemployment in MD, DC, VA & US
Interested to see how the DC metropolitain area stacks up in unemployment when compared to the nation? I think you will find this interesting, and the graph below updates automatically and so is current now! Please post your thoughts below, I would be interested in your opinion...
PLEASE NOTE: You can click on the graph to see actual numbers
Wednesday, August 26th, 2009 at 12:59pm.1261 Views, 0 Comments.
The current market that we find ourselves in can be challenging enough without having to deal with a property’s poor condition. Staging can make a home sell much more quickly and for significantly more. We’ve all seen a cluttered home that has turned us off.
Following are a few basic tips that Thomas and I implement in readying a home for the market. Remember, “CLUTTER EATS EQUITY”. More clutter results in substantially less profit from the sale.
· Depersonalize: Pack up family photos that act as a distraction (while interesting, they just draw attention from what we are really trying to sell).
· Open all blinds and curtains to allow for the most natural light possible.
· Remove excess furniture to make rooms appear larger. …
Wednesday, July 8th, 2009 at 7:06pm.798 Views, 0 Comments.
Whatever your opinion on the ICC, the impact of the ICC is far reaching: Geography has been impacted in ways that will last forever, travel out of the area will likely become more convenient, new traffic patters are going to evolve, and new walking/ biking paths will emerge.
Matt recently had the opportunity to go up in a helicopter to do a little aerial photography, and came back with the the shots included in this post. The shots are from early spring (vegetation is lighter, and so more can be seen without leaves, etc).
Click here for more information on how the ICC has affected a specific property value
**Next week look for ICC pictures from Emory Lane west to Muncaster Mill.
Wednesday, July 8th, 2009 at 7:06pm.1691 Views, 0 Comments.
This blog is a continuation from the last post, part 2 of 2 of our pictures updating the progress of the ICC. The pictures below are all taken East of Muncaster Mill Road. A couple of the close ups are slightly blurry. You’ll have to forgive me, as that can happen with a couple of thousand feet between the helicopter and the target.
-Matt
Click here for more information on how the ICC has affected a specific property value
Wednesday, July 8th, 2009 at 7:05pm.805 Views, 0 Comments.
Recently I attended a real estate auction on behalf of a client who wished to bid on the property. Thomas and I have been to countless auctions, in fact, both on the front steps of the Montgomery County Courthouse and on the front lawns of the properties being sold (as in this case). In our experience, there are many nuances to consider when attending a real estate auction that most investors—never mind the general public—don’t understand. The process only takes from 3-15 minutes, and a lot can happen very quickly that requires considerable preplanning. And after all of this time and effort, are foreclosure auctions even a good deal? Hopefully the following will help you address these issues if you choose to attend one.
Friday, June 12th, 2009 at 9:39am.355 Views, 0 Comments.
Five years ago—eons in housing market time—my wife and I decided to buy a home in Maryland. Back then, rat-infested shacks were going for half a million, and we almost gave up and moved to Topeka. But we stretched like Cirque du Soleil contortionists to buy a modest condo about an hour from our jobs. The only way we could swing it was with a five-year adjustable-rate mortgage, so we went that route despite all the gloom-and-doomers telling us our rate would readjust to 1000 percent and we’d be living under a bridge. We didn’t necessarily believe that, but the five-year clock started ticking in the back of our minds and occasionally wormed its way to the front.
This year the clock runs out. The nice thing is that with interest rates at near-historic lows—a…
Wednesday, April 22nd, 2009 at 2:03pm.440 Views, 0 Comments.
It’s been said that “fear is a greater motivator than the opportunity to gain.” That’s definitely true when it comes to real estate sales from a seller’s perspective, but it applies equally to buyers—especially in our current market. Sellers should understand that buyers might walk into a beautiful home with a gorgeous kitchen and many other upgrades, but see a significant flaw—say, a basement that’s wet and moldy—and decide it’s too much to overcome. Maybe they’re afraid of what else they’ll find, or maybe they just don’t want a project to tackle right away.
With that in mind, when choosing which home repairs and upgrades to make, always opt for projects that will relieve buyers’ most pressing fears. This is important whether you’re planning to sell right…
Monday, April 13th, 2009 at 11:51am.457 Views, 0 Comments.
Sellers ask me the same question all the time: “When is the best time to sell a house?” The answer can be found in general buyer patterns. Typically, this is the pattern:
· February, March, April, and May—buyers look for and put offers on homes
· April, May, and June—buyers settle on their homes
· July and August—people take vacations
· September and October—kids go back to school, and there’s a small uptick in buying activity after people return from vacation
Given this pattern, a home should be listed by February or March for full exposure to the majority of buyers. This certainly doesn’t mean that you can’t list your home in December or August, but buyer activity tends to slow down then.
Only a few short years ago, even Real Estate Agents did not know what a short sale was! My, how things have changed...
Banks have estimated that the majority of short sales will have been processed by 2014. More than 1 in 4 of all homes are now backed my mortgages that are worth more than the collateral that secures them: the homes themselves!
The Department of the Treasury recently put out a new progam called HAFA (Home Affordable Foreclosure Alternative), which should make things more standardized...
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Unemployment in MD, DC, VA & US
Five years ago—eons in housing market time—my wife and I decided to buy a home in Maryland. Back then, rat-infested shacks were going for half a million, and we almost gave up and moved to Topeka. But we stretched like Cirque du Soleil contortionists to buy a modest condo about an hour from our jobs. The only way we could swing it was with a five-year adjustable-rate mortgage, so we went that route despite all the gloom-and-doomers telling us our rate would readjust to 1000 percent and we’d be living under a bridge. We didn’t necessarily believe that, but the five-year clock started ticking in the back of our minds and occasionally wormed its way to the front.
It’s been said that “fear is a greater motivator than the opportunity to gain.” That’s definitely true when it comes to real estate sales from a seller’s perspective, but it applies equally to buyers—especially in our current market. Sellers should understand that buyers might walk into a beautiful home with a gorgeous kitchen and many other upgrades, but see a significant flaw—say, a basement that’s wet and moldy—and decide it’s too much to overcome. Maybe they’re afraid of what else they’ll find, or maybe they just don’t want a project to tackle right away.
Sellers ask me the same question all the time: “When is the best time to sell a house?” The answer can be found in general buyer patterns. Typically, this is the pattern: