Washington, DC Homes along the Red Line

Coldwell Banker Market Watch - May 2012 (April 2012 sales data)

Mary Lowry Smith — Mon, 14 May 2012 21:39:00 GMT

Wow! Median Sold prices up, and inventories down in five jurisdictions.

Click here to read more

Coldwell Banker's Energy Smart Newsletter - April 2012

Mary Lowry Smith — Fri, 20 Apr 2012 15:30:00 GMT

Check out ways you can go green this month. To read the April edition, Click Here

Many markets with low inventory and increasing median prices

Mary Lowry Smith — Thu, 19 Apr 2012 15:42:00 GMT

In 146 metros tracked by Realtor.com, the number of for-sale listings was down 21 percent in March compared to a year ago. All but two markets -- Philadelphia and Hartford, Conn. -- saw listing inventory decline, and 78 markets registered declines of 20 percent or more.

Click the link to read the entire article: Markets with low inventory

Coldwell Banker's April Market Watch covers March sales in our regional markets

Mary Lowry Smith — Wed, 11 Apr 2012 20:56:00 GMT

Here's a great way to compare several different markets in our region:

Click here to read April's Market Watch

Coldwell Banker February Market Watch covering January sales in regional markets

Mary Lowry Smith — Sat, 11 Feb 2012 23:21:00 GMT

Click here to read Market Watch

Coldwell Banker Market Watch- January 2012

Mary Lowry Smith — Mon, 16 Jan 2012 00:06:00 GMT

Coldwell Banker Market Watch - January 2012 CLICK HERE to read Market Watch

How beneficial is a Realtor's help?

Mary Lowry Smith — Sun, 15 Jan 2012 23:49:00 GMT

Thre are some good point made in this short videa:

http://www.mristv.com/2012/01/what-is-the-value-of-a-real-estate-pro/

10 Home Winterizing Tips

Mary Lowry Smith — Tue, 10 Jan 2012 16:49:00 GMT

Those of us living in the DC Metropolitan area got a reminder yesterday that although our winter has been mild so far, heavier weather is on the way. Here are some good practical tips from an Inman News ariticle I hope you'll enjoy:

Click HERE to read the entire article

It's never too early to get ready for Tax Time

Mary Lowry Smith — Mon, 28 Nov 2011 14:19:00 GMT

Here's a link to an informative article about some tax deductions that will be expiring soon. Don't miss out!

CLICK HERE to read the article

Coldwell Banker Market Watch - November 2011

Mary Lowry Smith — Wed, 16 Nov 2011 15:40:00 GMT

Check out several different markets in the Mid-Atlantic region with a click of your mouse. Be sure to scroll down for stats on properties $500K and Under.

Coldwell Banker Market Watch-November 2011 CLICK HERE to view

Special deals say Thank-you to Veterans

Mary Lowry Smith — Mon, 07 Nov 2011 16:42:00 GMT

Click the link for some of the discounted and free offers for veterans this Veteran's Day:

free meals and discounts

Pass them along!

Scary good news for D.C.

Mary Lowry Smith — Fri, 28 Oct 2011 16:12:00 GMT

Zillow 2011 Trick-or-Treat Index

Condo owners: Send a link to the article to your condo board

Mary Lowry Smith — Thu, 27 Oct 2011 16:29:00 GMT

New rules for FHA financing hold pitfalls for condominium officials
By Benny L. Kass

Problems sometimes arise when you don't know what questions to ask. Here are three questions you should ask your condo board:

1. What percentage of the building's apartments are currently rented (not owner-occupied)?

If more than 50% of the apartments in the building are rented, any new buyers into the building will need to put 20% down to qualify for financing.

2. What is the average percentage of owners who are 30-days or more late with condo fee payments?

If over 15% of the owners are 30-days or more late with condo fee payments, a buyer's lender will need to apply for an exception to the requirement in order to get the loan underwritten.

3. Does any one person own more than 10% of the building?

If one person owns 10% of the condominium, that will make financing even more challenging for a buyer than it already is today.

When you read Beny Kass' article, you'll understand how important the answers to these questions are to the financial health of your condominium building. If there's a problem with any area, it will make it more difficult to sell in the building and could limit sales to cash-only since financed purchases won't be possible.

Now you know so be sure to ask!

Coldwell Banker Market Watch - October 2011

Mary Lowry Smith — Wed, 12 Oct 2011 19:15:00 GMT

Check out the latest Market Watch with my annotations for properties $500,000 and under:

Market Watch - October 2011 Click for Market Watch

Forget the market: Buy a house

Mary Lowry Smith — Thu, 01 Sep 2011 21:15:00 GMT

Click this link to read the article from Smart Money

DC Metro Region 2-year Market Snap Shot

Mary Lowry Smith — Thu, 04 Aug 2011 15:50:00 GMT

Click on a chart to view.

As of June 2011, 15,538 properties were for sale while 13,811 properties were under contract and sold. The DC Metro market is stable with nearly as many properties moving off the market (sold and under contract) as properties on the market for sale.

The median sold price is equal to the 2-year high in June 2010.

The average number of days it takes a property to go under contract has declined to the level for August 2010.

Have you been thinking about buying instead of renting?

Mary Lowry Smith — Thu, 05 May 2011 02:26:00 GMT

This question is prominent in the media, but how do you know if the time is right for you? Should you wait to see if prices continue to go down? Isn't the home-buying process complicated?

Get answers to these and other questions at Coldwell Banker's Home Buying Seminar.

When? May 14th, 10AM-12Noon
Where? Coldwell Banker Dupont Circle, 1606 17th St NW - between Q & R
(Red Line to Dupont Circle, take the Q St Exit)

Learn about-

available loan programs
working with an agent
the regional sales contract
the stop-by-step process involved in buying in the D.C. region
Foreclosures & Short Sales
online tools

This will be an informal, informative session designed to provide new buyers with the resources to make educated decisions. It's FREE and there's no obligation if you attend. If you want to get up and leave, you can! Don't want to give your email address or phone number? NO PROBLEM! We do this as a service. Will you learn something? ABSOLUTELY!

There's limited seating so call 202-387-6180 begin_of_the_skype_highlighting 202-387-6180 end_of_the_skype_highlighting

Want to submit a question online before the seminar? Email: mary@dcredlinehomes.com

Smile if you love colorful marshmallows!!

Mary Lowry Smith — Thu, 14 Apr 2011 20:21:00 GMT

PEEPS 2011 Entries with the winning PEEP

Think happy thoughts

Mary Lowry Smith — Mon, 04 Apr 2011 22:39:00 GMT

Did you know?

For every two homes sold, one job is created.
Each home purchased pumps up to $60,000 into the economy.
Home ownership accounts for over $2 trillion of the U.S. gross domestic product (GDP).

______________________________________

The above provided by The National Association of Realtors. What a positive spin on monthly sales figures!

DC Circulator fares may double

Mary Lowry Smith — Wed, 30 Mar 2011 20:25:00 GMT

Fares on the D.C. Circulator could soon double, the first fare increase in the bus system's six-year history.

The District Department of Transportation is calling for the bus service to charge $2 per trip for cash rides. Under the plan, those using plastic SmarTrip farecards would pay $1.50.

Read more at the Washington Examiner: http://washingtonexaminer.com/local/dc/2011/03/dc-circulator-fares-may-double#ixzz1I7IWVslR

Awwwww - this is so cute!

Mary Lowry Smith — Wed, 29 Dec 2010 16:18:00 GMT

Cat putting on a bunny hat

New on the Red Line: Tenley-Friendship Library set to re-open in January

Mary Lowry Smith — Wed, 22 Dec 2010 17:00:00 GMT

The interim library, located at 4200 Wisconsin Ave NW, will close at 5:30PM Thursday, December 30th. The NEW Tenley-Friendship Library will open Monday, January 24th at 4450 Wisconsin Ave NW.

The new library building was built on the same prime Wisconsin-at-Albemarle location as the previous 1960's library building demolished in October 2007.

Be sure to mark your calendars for the grand opening party on Saturday, February 5th from 10AM-4PM.
(The opening party in the new building? Wow. That's confidence that this will be a great public building.)

Is this a good time to buy?

Mary Lowry Smith — Thu, 02 Dec 2010 00:25:00 GMT

Multibillionaire hedge fund operator John Paulson,recently advised listeners crowded in three separate dining rooms, to issue 30 year mortgages to buy a home as "your debt and interest payments get locked in at record lows, while the price of your home will rise."

"If you don't own a home buy one," Paulson recommended; " if you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home." He further advised that this is the best time in 50 years to buy a home.

If you've been sitting on the fence trying to decide whether to buy or not, you may want to contact one or two of your favorite lenders to explore financing options. Once you have a comfortable price range in mind, contact your favorite Realtor for guidance on the best market place to get the best deals in your price range. Steal a little thunder from the hedge fund operators!

And if it's a good time to buy, wouldn't it also be a good time to sell?

All Real Estate is Local

Mary Lowry Smith — Wed, 24 Nov 2010 18:02:00 GMT

If you read yesterday's article in The Washington Post, "Home sales dip 2.2 percent in October," you may be interested in some more positive figures from some of our local markets.

OCTOBER 2010 REAL ESTATE MARKET STATISTICS (MRIS/MLS Mid-Atlantic)

YoY MoM

District of Columbia
Total $$ Sold Volume      + 0.71%        +17.24%
Closed Sales              -14.95%        + 4.43%
Median Sold Price         + 7.11%        + 5.71%

Arlington County
Total $$ Sold Volume      - 1.95%        + 8.65%
Closed Sales              -11.79%        - 1.15%
Median Sold Price         +15.06%        + 9.88

Fairfax County
Total $$ Sold Volume      -15.77%        - 8.23%
Closed Sales              -24.27%        - 8.81%
Median Sold Price         + 9.57%        - 0.53%

Montgomery County
Total $$ Sold Volume      -25.06%        - 6.15%
Closed Sales              -27.92%        - 9.22%
Median Sold Price         + 7.58%        + 7.59%

Prince Georges County
Total $$ Sold Volume      -25.94%        + 0.40%
Closed Sales              -23.10%        - 5.70%
Median Sold Price         - 9.52%        + 4.11%

Here's a link to the entire article: Home sales dip 2.2 percent in October

6 Things you Think will add value to your home, but Don't

Mary Lowry Smith — Tue, 09 Nov 2010 23:40:00 GMT

1. Swimming Pools
Swimming pools are one of those things that may be nice to enjoy at your friend's or neighbor's house, but that can be a hassle to have at your own home. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. An in-ground pool costs anywhere from $10,000 to more than $100,000, and additional yearly maintenance expenses need to be considered. That's a significant amount of money that might never be recouped if and when the house is sold.

2. Overbuilding for the Neighborhood
Homeowners may, in an attempt to increase the value of a home, make improvements to the property that unintentionally make the home fall outside of the norm for the neighborhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make the home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighborhood of small, one-story homes.

3. Extensive Landscaping
Homebuyers may appreciate well-maintained or mature landscaping, but don't expect the home's value to increase because of it. Many buyers view elaborate landscaping as a burden.

4. High-End Upgrades
Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the '60s. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.

5. Wall-to-Wall Carpeting
While real estate listings may still boast "new carpeting throughout" as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. Removing carpeting and restoring wood floors is usually a more profitable investment.

6. Invisible Improvements
Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice -- or likely care about. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don't expect it to recover these costs when it comes time to sell. Many homebuyers simply expect these systems to be in good working order and will not pay extra just because you recently installed a new heater. It may be better to think of these improvements in terms of regular maintenance, and not an investment in your home's value.

The Bottom Line
It is difficult to imagine spending thousands of dollars on a home-improvement project that will not be reflected in the home's value when it comes time to sell. There is no simple equation for determining which projects will garner the highest return, or the most bang for your buck. Some of this depends on the local market and even the age and style of the house. Homeowners frequently must choose between an improvement that they would really love to have (the in-ground swimming pool) and one that would prove to be a better investment. A bit of research, or the advice of a qualified real estate professional, can help homeowners avoid costly projects that don't really add value to a home.

(abbreviated article by Jean Folger)