Precision Pricing Last month, I put together a very careful market analysis on a home I listed in American University Park, a popular DC neighborhood. Still, there were several homes that had been on the market for a while and some of those are still for sale. By the time it hit the market, my listing was ready for prime time. The seller had it painted, refinished the floors, and transformed it from crunchy granola looking like it should be in Takoma Park to proper AU park understated chic. When we posted the listing on MRIS, it was with a beautiful virtual tour, and we had great brochures for the Open, produced by our brilliant in house Art Directory, Piers Lamb. We brought the house on the market when the seller was at a week long spa retreat, and her gorgeous German shepherd was at a... 07/25/2010

The Matisse is a new condo project that went on sale in Logan Circle, Washington, DC.  The project consists of just two units offering a little more privacy compared to your typical 4 unit project. . Brand new construction, Built by  developer team of K. Miller Properties. Located in Logan cirlce at 1502 10th Street NW Living Area - The one-bedroom unit  offers just over 800 square feet &  is on the first level and the 1,600 square-foot penthouse unit is on the upper levels. Both have a good amount closet space, and practically-designed kitchens with drawers for the storage of pots and pans. Each also has private outdoor space: the lower level unit has a patio and the upper unit has both a full walkout balcony off the master bedroom, and a roof deck with 360 degree city views & high cei... 07/24/2010

Aren’t we lucky to live Inside the Beltway? Once again I was reminded of how differently the real estate and even the job market have weathered the crisis in DC when I listened to my broker on NPR yesterday. Donna Evers, together with the Washington Post’s real estate editor, Elizabeth Razzi, and Lisa Sturtevant, a professor from George Mason, was invited to discuss “A Housing Market Recovery” on the Kojo Nnamdi Show. The talk was on “healthy signs of recovery” that we might see here, and even the ever-so-cautious Razzi admitted that this is a great time to buy in the DC Metro area. (With 30-yr fixed rates below 4.5 and prices likely past the bottom, why wait if you don’t have to?) You can listen to a recording of the show here. Why do we seem to be more shielded? Most likely, it’s beca... 07/23/2010

Has anyone been experiencing situations where the loan has been satisfied on a property but the lender has not removed the lien on the Deed of Trust? 07/23/2010

Thomas Jefferson would really love the Jefferson Memorial, a domed monument inspired by the Pantheon in Rome.  The architect, John Russell Pope, knew Jefferson was a huge fan of classical architecture, and it’s set in the perfect location, surrounded by the water (and cherry blossom trees) of the tidal basin.  The construction took place during World War II, and because metal was in short supply, the original statue of Jefferson was made of plaster.  After the war ended, sculptor Rudolph Evans created the 19 foot bronze statue that replaced the original. There are inspirational words from Jefferson’s writings engraved on the walls, with many inscriptions from the Declaration of Independence.  The Memorial is currently undergoing some renovations, but it’s still open to the public (excep... 07/22/2010

No, I’m not talking about 18th century houses which we don’t have a whole lot of here. (There have been too many termites, fires and riots in the Nation’s Capital.) Nor am I talking about the type of house we have more than enough of—probably 90 percent if you believe the realtors’ classification in the MLS--: the brick “Colonial.” (When in doubt, it’s always a Colonial.) I’m talking about an amazingly beautiful NW Washington DC neighborhood that many of the city’s inhabitants west of Rock Creek Park have barely heard of: the original part of the "Colonial Village" near the northern tip of the DC square that gave the whole neighborhood its current name. It’s a 80-year old kind of subdivision that is almost entirely nestled in Rock Creek Park. The streets all have names like “Yorktown” o... 07/19/2010

The last time I attended a meeting of the Crestwood Neighborhood League, they had a guy from the United States Park Service to talk about one of the burning issues of the day - deer migrating from Rock Creek Park into our neighborhood. Crestwood is a residential area in Northwest Washington surrounded on three sides by Rock Creek Park.  While having such a beautiful neighbor is one of the attractions of living here, sharing our back yards with the local wildlife can be a bit of a nuisance.  This morning, on the way down Allison Street toward Blagden Avenue and the park, we came across these two fellows chowing down on a neighbor's garden.  We got really close to take these photos, and these two eight point bucks were not phased in the least.  They actually posed. Of course, the means of... 07/18/2010

The weather has been a little hot along the East coast lately, and the other day I got home and found this little guy.  Seems to be suffering the effects of global warming!  As I came up my front steps, he just looked up and waited for me to dig my camera out of my purse.  Have a fun Sunday, everyone! 07/18/2010

  IMPORTANT CALL TO ACTION - Hot topic - Reduction of seller concessions on FHA loans to 3% max     I wrote this article the other day, HUD seeks public comment on three main issues for FHA loans. - The main issue and focal point is that FHA wants to reduce the seller concession from 6% to 3%. I can understand why. Two reasons I can think of : 1. The real estate market has crashed and home values have dropped significanly in some areas, that homes are upside down. Some feel that with a FHA mortgage, that you basically start underwater if you need to sell quickly. 2. HUD/FHA feels that home values are inflated some, pushed a tad higher to cover the seller concessions so that it actually doesn't come out of the seller's pocker per se. This is an never ending argument by several.     So we... 07/17/2010

You can make a difference - you have 30 days to comment against FHA's proposals   With a difficult economy and possibly some new FHA mortgage changes coming in the new future, this could be time to make your voice heard. HUD made this announce back in January 20th, 2010 - FHA announces policy changes to address risk and strengthen finances - I parlayed this announcement into layman's terms. - FHA loans and some possible mortgage changes.   So now, FHA just announced that there will be a 30 day period for comments on these issues described above.  These proposals are designed to limit the risk in regards to the Mutual Mortgage Insurance Fund and at the same time, trying to promote sustainable homeownership for FHA borrowers.       The 3 possible changes to FHA Loans :   1. Changing the c... 07/15/2010

  Why They Call It Rock Creek Rock Creek flows through Washington, beginning somewhere north of Gaitthersburg, Maryland and flowing into the Potomac River in Georgetown.   I'm very fortunate to live in a neighborhood that is surrounded on three sides by the park.  We can enjoy the cycling and running paths, and the natural beauty of the place always amazes me. This afternoon, I pulled my car over on Beach Drive and took these photos of the creek, swollen with recent rain waters.     If you are planning to move to or from the Washington Mtropolitan area, call text or email me.  I'd be happy to help. 07/14/2010

The Capitol On A Rainy Day Last winter, Washington area bloggers were writing about Snowmageddon.  Then last week, it was the heat wave.   Yesterday, after what seemed like weeks, we finally got some rain to cool things off a bit. This is not a shot of the Capitol in yesterday's rain.  I just found this photo that I took on a dark day last fall.  And bottom line, I like the variety in the weather here.  It would be hard for me to adjust to having it be gorgeous most of the time - as in Florida and southern California! Have a happy Sunday, whatever the weather is doing where you are! 07/11/2010

Friday's Foto:  Sheridan Circle The rider of this gorgeous horse is  General Philip Henry Sheridan  (March 6, 1831 to August 5, 1888) Philip Sheridan had a rapid rise during the Civil War to General.  Looking back on the history of the Civil War and some of his other exploits, he might not get a major traffic circle named after him today, expecially in a very posh (and sometimes politically correct) part of the city.Sheridan was famous for the destruction of the infrastructure of the Shenandoah Valley toward the end of the Civil War, and this was one of the first uses of the “scorched earth” policy in that conflict.  His reputation was not enhanced by his role in the Indian Wars of the Great Plains, where he is often misquoted as having said that "The only good Indian is a dead Indian."... 07/10/2010

The statue of Admiral Samuel Francis Dupont that was originally in the center of Washington's Dupont Circle is now in his home state of Delaware.  In it's place is this fountain, which is probably helping the residents of this fun neighborhood stay cool in the 100+ degree weather.  The fountain sort of anchors this popular downtown area, with many homes dating back to the Civil War. The fountain replaced the Admiral's statue in 1921, and it was designed by the team that did the Lincoln Memorial, Henry Bacon and Daniel Chester French.  As of today, there are 16 homes for sale in this neighborhood, ranging from a low of $559,000 for a little 2-bedroom row house on Newport Place, to a high of $4,995,000 for the historic Toutorsky Mansion on 16th Street.  And there are 68 condos and coops ... 07/08/2010

Are you ready to see the big picture? Your official market analysis for 20010, where I compare 2006/2008/2010 markets first half sales 01/01/2010-06/30/2010   $0-$500,000 - Total of 112 units sold Minimum price $99,900   Maximum price $499,990   Average price $342,999 Average DOM 48                                      $500,000+ - Total of 42 units sold Minimum price $519,000   Maximum price $2,390,000   Average price $755,809 Average DOM 65 __________________________________________________________________________________ 01/01/2008-06/30/2008   $0-$500,000 - Total of 75 units sold Minimum price $169,900   Maximum price $499,777   Average price $349,158 Average DOM 78                                     $500,000+ - Total of 41 units sold Minimum price $510,640   Maximum price $1,300,0... 07/06/2010

  Are you ready to see the big picture? Your official market analysis for 20009, where I compare 2006/2008/2010 markets first half sales 01/01/2010-06/30/2010   $0-$500,000 - Total of 219 units sold Minimum price $52,500   Maximum price $499,999   Average price $359,560 Average DOM 50                                      $500,000+ - Total of 171 units sold Minimum price $505,000   Maximum price $2,695,000   Average price $793,561 Average DOM 57 __________________________________________________________________________________ 01/01/2008-06/30/2008   $0-$500,000 - Total of 210 units sold Minimum price $20,000   Maximum price $499,999   Average price $352,288 Average DOM 59                                     $500,000+ - Total of 142 units sold Minimum price $514,000   Maximum price $2,80... 07/06/2010

  Do away with 30 year mortgages, really? I just read an article from CNBC, about experts weighing in on getting rid of 30 year mortgages.  The article discusses how the mortgage industry needs to become more modernized, and how the 30 year mortgages need to go......have higher interest rates....and lower housing costs.  Is this really the way we are heading? If you read further into the article, it goes on to talk about how the United States is alone in not charging a penalty for early pay-offs and being the most liberal country to allow interest tax write offs on mortgages. Do you really think our mortgage system is outdated?  Do you think it is time for change?  Personally, I think if it's not broken don't fix it.  30 year fixed and 40 year fixed when they were around, allowed Americ... 07/06/2010

 Sellers - Over the years you've read blogs, REALTORS have told you, you saw on the news...the keys to selling your home is to unclutter, prepare to sell a "product", price it 'just right', landscape, keep it clean, yada yada yada. There is ONE key to successfully selling your home, and once you mastered it.....you will succeed. Do you know what it is? The real answer, in my professional opinion is "your first offer is your best offer."  The sooner you realize the market price is what your first offer is......the less time, stress and haggle you waste! I've seen it in every home sale, where the seller wants to "hold out" for the bigger offer....the seller wants to ride out the wave....the seller wants to believe their home is worth more.  You know what?  Your home is only worth as much ... 07/05/2010

This house made me stop in my tracks for two reasons.  First, the brick work over the arched bay window caught me  eye.  At the same time, the American flag was wafting in the light afternoon breeze, with the white brick in the background. Here's wishing all of my Active Rain blog buddies a fun and safe Fourth of July!   07/04/2010

Earlier this week, I wrote Hey! Look Me Over! with advice on what to look for in a buyer broker.  So what happens after you interview a few agents and find one you think will be a good choice? Most buyer brokers want you to sign some sort of agreement that formalizes your agreement - often it is a legal requirement of their jurisdiction.  And without a written agreement, there are no guarantees the agent who finds you your new home will get paid.  Most buyer broker agreement say, in effect, that the agent will help you find a place, and you agree to forsake all other real estate agents during your search - actually, it's been described as asking a prospective buyer to get married before the first date.  Now, at this point, you know enough to want to go out with this agent on at least on... 07/03/2010