Your Busy Life blog

As we get close to July 4th, this is appropriate. Somedays, I do think of things besides real estate.

I’m not so thrilled with some of the comic interpretations (eg, let’s not bash Pres. Bush on this one), but this is a funny way to get people to consider the implications.

What is more frustrating as a DC citizen is to see neighboring districts spend lots of money in order to have an election to fill a seat which would have otherwise remain opened for a few months. If the value of those citizen’s votes justify the money, then does not the value of a city with over a half million people who have never voted not also worthy of “action”.

So, for a funny rendition on DC’s Lack of Congressional Representation…

If you’ve got less time than you’d like, and would appreciate a traveling vet, consider this. Let me just assure you, if your pet has any loathing for a vet’s office, this is a great find.

I’ve found Nia (the Housecall Vet) to be compassionate, and through. Give her a call, and you’ll save stress and time, for you and your pets.

Many times, working with buyers, I’ll hear “so, what’s this neighborhood like”.  This will come from people moving in from outside the area, or, at least across the Potomac.  If the question comes to me in my market, I can provide some suggestions as to what others think and what I think; if the buyer has ended up 5 miles away from our original market, and hence, outside of my comfort zone, then I can’t be much help.

The Washington City Paper has it’s uses, though it will never replace my morning Washington Post time.  WCP’s target reader is also somewhat different.  Not better or worse, but different.

This weeks issue of Washington City Paper reviews each of the DC neighborhoods, in it’s usual, atypical way. I laughed at some of them.  The fact is, if you’re moving to a DC neighborhood different than your own, or from outside, this is a wonderfully irreverent look.

The website also is looking to generate reader responses, which can be as interesting  as the original story.

The DC Chamber of Commerce has just published their 2008 State of the Business Report.

It’s fairly predictable in that while there is a national economic slowdown (or use the R word if you wish), the local area is somewhat protected by Uncle Sam and a diverse economy. Notes of caution as unemployment is ticking up, albeit less than the national average. The urban center, DC itself, is higher.

And of course, no economic report can not discuss real estate. The cost of housing is higher relative to income than we’d like, which is not an attraction to business, nor to it’s employees.

The report will likely not have thunderbolts of new refreshing thought, but it does compile strengths and opportunities fairly well.

You can tell it’s rather hectic, as I’ve not had the few moments to even put a few thoughts here.

“Hectic” in these current times is good as that means things are moving.  However, most buyers and sellers are in home purchases which need extra love & care.  For instance, one buyer’s purchase of a short sale home didn’t get through to settlement because the seller’s bank didn’t accept the terms & numbers on the purchase.  So, the poor buyer had her moving van practically loaded before the bank issued it’s final position.

However, there was a 30 minute review on WAMU today. The discussion is all over the place, but has a few good points.  There is a link to it if you’d like a listen.

When I’m working with buyers or seller,  I speak of the economics and the financial principles that underlie the sale.  Every once in a while, however, I realize that emotions take over.  In today’s talk, there was discussion of some local government actions which simply change the emotions, which in itself, could alter people’s behavior.

Continuing to search for options to keep everything neat & tidy, I came across another vendor that can help people sort everything. At times, this can be a relationship assist, as some people don’t notice, while their husbands/wives/partners sure do notice the clutter. Someone I know works with professionals and helps them recapture time (and thus money) by having their workspace structured and organized.

Drive out to Tysons, or check out Capitol Closets.

I’ve not posted for a week, but I’ve been searching like a maniac through my notes for a post I’d made. Either the heavens are in retrograde, or my mind is in a fog. The former removes control from us mere mortals, the latter removes sanity from my grasp. Anyhow, I’ll simply re-write my thoughts.

There is a wonderful tool to allow uses verification of the status of their zip code as being in a declining market. [by the way, the entire DC Metro area is defined as declining. Not so good since as of Spring 2008, DC itself continues to post year over year appreciation gains, albeit single digit. I guess I’m quibbling about mere data & money]
No buyer wants to buy in a declining market. For that reason, no seller wants to be in a declining market. One function of the tool is that it does clearly define the “market” is local, so that during a given time, Utah could be moving up, while suburban Virginia is declining. Often, people will think of “the market” as being a national entity, which it is not.

One larger reason why everyone has been very concerned is because lenders have been mandating a 5% increase in down payments for homes in a declining market. And this surely makes buyers less able to buy, sellers less able to sell. This idea is much more eloquently stated by Kenneth Harney who is a must read for people anyway.

The only reason I’m continuing to write about this and was trying to reference an earlier post was because of a change in the policy. [ I gotta figure out how to insert an ooom-pa-pa band audio right here]. This policy change, to take effect on June 1, 2008, by Fannie Mae, was in response to efforts by the NAR (National Assoc. of Realtors). Self-serving to Realtors; sure that can be. But I also think it is part of the changes being engineered by government & business to ensure a graceful cooling. I gotta think, many people were relieved in the past few days.

If you live here, you know; and if you don’t, it’s a pseudo-secret. TV shows & movies portray a laid back, albeit thrilling life in this town. But the travel agents also point out the local attractions, including museums & theater. This area also has a very educated populace, which shows in bookstores and local activism.

For those who don’t want the excess of life in the downtown area, there are some suburban neighborhoods, and there are some top class suburbs, cities in their own rights.

Forbes recently highlighted a few, in both Maryland and Virginia. I’d also add Reston,VA and Columbia, MD to their list. You’ll find home prices in the premier suburbs as higher and higher than most of DC, but, as in all, you get what you pay for.

A few weeks ago, Forbes published it’s list of most congested cities.  Oh joy, we made the list!  Washington, DC made the list at #1.

Hardly newsworthy to the locals, and this does help those on the Washington Metro understand why they are packed in tight, the system averaging 800,000 riders daily in April 2008.

This fact of life also helps understand why home prices inside the Beltway continue to rise, while those outside, on the fringes of the Metro Washington DC area, those home prices are in a tailspin, still dropping.

Real estate is local, I often say “hyper local”. What’s happening to your colleague’s house in Haymarket has nothing to do with what is happening to your Capitol Hill house. The same is true, whether you’re a buyer or a seller.

A week from Saturday, Arlington goes to the dogs. For a good cause.
This will be a good excuse for your dog to take you for a walk, meet some people & neighbors, meet a few other dogs, and raise money for neglected and abused animals in the Metro Washington area.

The fun starts Saturday morning, day before Mother’s Day.
Check out Walk for the Animals 2008.

I’m supporting JJ’s Crew. They’re doing very well.