I’ve been a Realtor® for well over a decade, and I send notes and write things here & there. I think this is the first time I’ve suggested you look at a product that one of the folks in my circles has written.
And so,
then go check this app, to help you understand the true value of the investment at hand.
I’m writing this in order to allow me to send the link to clients in the days, weeks, months & years to come.
The question invariably is always one of
Well, it depends; and well, it doesn’t matter.
Over a lifetime, the value of real estate will go up.
Over a lifetime, the investment will go up.
And so, if you own a home in 2011 and you sell in 2011, at less than the inflated price you’d like, this allows you the change to purchase the next home at a 2011 price, not the inflated price that seller would have liked.
The entire market moves up over time, with slight variations up/down in the shorter term.
Are there winners in 2011? Yes. Buyers, 1st time buyers who can buy at a good price with a great interest rate.
Are there losers in 2011? Yes. Sellers, who must sell and are not looking to purchase.
Everyone else who is selling is then buying, and everyone who is buying is selling, and they are even.
And yes, if you can tilt the market a bit, and you are selling your Washington DC area home and moving to a more sluggish market, then you are playing to your favor.
In order to protect clients, I usually do not speak of homes that I am helping sellers sell, or homes that I am helping buyers buy.
But…today will be an exception.
The buyers have been out with me for 4 times now, each time, slightly altering the “must have” wish list.
Today’s journey was to include 2 homes….and I thought I’d play and suggest 3 more, for a total of 5. And so, we saw:
** 2 bed/2 bath condo in Tyson’s Corner. The kitchen was somewhat dated, but not onerous to resolve. The best part was how well laid out this was in order to rent this home out to professionals who could easily get to work in the office buildings within a few minutes. Also, 2 decks which were a bonus.
** 3 bed/ 1 bath Single Family - short sale - needs lots of work (cosmetic, though a few “issues” seemed apparent). The home is in Pimmit Hills, but will require some time & money before we can move in. Smaller home, 1 level.
** 3 bed/2.5 bath townhome - short sale - ready to move into, good location in Falls Church. No basement. A few updates could be done over time, small community, ready to go.
** 3 bed/2 bath townhome - regular sale - Falls Church, with a basement. Needs paint everywhere, unless you want dark and vibrant colors (yes, they can be dark and jarring to the eyes). A few minor issues, nothing compared to home #2, which would still have to be resolved prior to moving in and having a party,
** 2 bed/2bath loft townhome, 3 levels, ready to move into. Renovated quite well, except it seems they forgot or never got to complete the renovation work. Could be done over time, though, ready for the housewarming party now
In conclusion…the buyers have choices. Choices aren’t always easy, but they have a budget, some geographic constraints, and were expecting to maybe find 1. We found several. Not 5 of the same, but 5 very different options. Its usually better not to have to make the decisions, I’ll let them do that.
Mount Rainier is a neat little town just on the DC border in Maryland. The local people are very forward thinking, and so, it’s always fun to work that part of town. They are having their annual Mount Rainier Home Tour this Sunday, from 1-5pm.
A friend of mine’s home will be on the tour, and so, I personally know they are excited and ready. To get yourself lined up, call (301)335-0699, and join the tour.
This quadrant is small, and so not often discussed, but there are lots of “interesting” buildings, if by “interesting”, we can all agree to “modern”.
The DC Preservation League is having a tour this Sunday, from 10am-2. It’s going be a great October Sunday, perfect for walking and meeting other neighbors & enthusiasts.
Check out DC Preservation League SW Tour page to register.
So, you’ll have to drift away from the morning to get to Bloomingdale’s tour this afternoon, starting at 1pm…
More info on Bloomingdale Tour site…and as much as you’d like to, pets aren’t welcome on this tour.
It’s going to be a great afternoon.
This is a fun tour, and you are sure to learn while having fun and enjoying the day AND seeing a handful of newly redone homes on Capitol Hill in Washington, DC.
This tour is Saturday, Oct 15, 10-4; tickets at Fragers’, Schneiders, and Hill’s Kitchen.
For all the info you need, check out Renovator’s Tour’s website. The banner says 2010, but ignore that, it’s really Saturday 10/15/2011.
Often, buyers will ask about “how safe is this neighborhood”.
Firstly, I suggest they look at their own home for a baseline. Frankly, it’s surprising how we can all be completely oblivious to that which is going on.
Then, to understand the type and frequency of “crime”, there are 2 sites, the first is national in scope and this other is Washington,DC-specific.
And of course, any buyer considering to buy a home should consider the home’s location at different times of day and night. Some people don’t want to live next to a whole set of hot dining spots, others do.
This media coverage two weeks ago was about my alternate ego, my life as a landlord. I’m posting this here because some of my clients choose to work with me because I very much “understand” investments; such a facility allows for better communication between myself and investors.
Check out the story in the Washington Express.
A few days ago, I was interviewed for my thoughts on NoMa, which I think is going nowhere but up. At the moment, not quite the neighborhood feel, but some parts are already having a nice feel, other parts are moving up.
The story was in the Washington Examiner. If you’d like more background, ping me and I’ll get you lined up.
