As 2008 comes to a close, I’d like to take a look back on the year. In many aspects, it wasn’t a pretty one: the meltdown of the credit markets, the explosion of foreclosures, the list goes on. But I’m not going to dwell on the negatives. Sure, it was a tough year for a lot of people. My heart goes out to those who find themselves without a home or a job, or both.
All in all, I had a good year, and for that, I’m eternally grateful. I’d like to thank all of my clients who entrusted me with what is most likely their biggest financial investment. I hope I served you well…I certainly tried. And if I fell short in some area, let me know. I’m continually trying to improve my service and I can’t do that if I’m unaware of what I could be doing better.
I’m also thankful that I got to know some of you pretty well. It’s amazing what you talk about when you’re driving around looking at countless houses. Some of my clients have become friends, and I’m incredibly lucky in that respect.
Thank you all for making 2008 a wonderful year.
Have a safe and Happy New Year, and I’ll see you in ’09. Now pop the champagne!
Wednesday, December 31, 2008
Sunday, December 14, 2008
This Week's Tip You Can't Live Without
The holidays are upon us, so I'm going to keep it short and sweet this week.
If you're looking for a house in the Washington, DC area, you need to visit HomesDatabase.com. This site is the public face of the local MLS. If the home is for sale and listed with a broker, you will find it here. The site is good and you can get pretty specific with your search.
And when you find a house you like, you can just pass along the MLS# to your agent. It makes it nice and easy for us to find the home and get you more information regarding the listing.
On another note, if you want to make a ridiculous amount of money and are willing to take a huge risk (face it, you don't make gobs of cash without having the stomach for serious risk), consider renting out your house for the Inauguration. You'll probably be glad that you got out of Dodge and you might make up the money you've lost in the stock market. E-mail me any questions you might have about the process.
That's it for now. Thanks for stopping by and have a great week!
If you're looking for a house in the Washington, DC area, you need to visit HomesDatabase.com. This site is the public face of the local MLS. If the home is for sale and listed with a broker, you will find it here. The site is good and you can get pretty specific with your search.
And when you find a house you like, you can just pass along the MLS# to your agent. It makes it nice and easy for us to find the home and get you more information regarding the listing.
On another note, if you want to make a ridiculous amount of money and are willing to take a huge risk (face it, you don't make gobs of cash without having the stomach for serious risk), consider renting out your house for the Inauguration. You'll probably be glad that you got out of Dodge and you might make up the money you've lost in the stock market. E-mail me any questions you might have about the process.
That's it for now. Thanks for stopping by and have a great week!
Monday, December 8, 2008
Remodeling: Get the Most Bang for Your Buck
Thinking of remodeling or upgrading before you sell but you’re not sure where to start? You’re in luck. The results are in for Remodeling Magazine’s annual Cost vs. Value report, which is produced in cooperation with Realtor® magazine. This year’s big winners are decks, kitchens & baths (big surprise), and vinyl siding.
If you add a wooden deck, you’ll recoup 81.8% of the cost when you resell, and a composite deck will get you 73.7%.
Kitchens and baths are perennial winners. The 2008 average for a minor kitchen upgrade was $21,246, with $16,881 recouped at resale, or 79.5%. Not too shabby. And ditching that pink and black tile in the bathroom will return 74.6%.
Vinyl siding replacement was another big winner in the report. The average cost in ’08 for the job was $10,256. You’ll recoup 80.7% of the cost at resale, or $8,274. And getting rid of those old, drafty windows and replacing them with low-maintenance vinyl windows will not only cut down on your heating and cooling costs, but you’ll recoup 77.2% of the cost at resale. Sweet.
Just one more thing: Before you start any of the work, check references and make sure your contractor is licensed! Thanks for stopping by, and tune in next week for more information you just can’t live without. Have a great week!
Monday, December 1, 2008
Random Thoughts (or, I’m woefully unprepared and just decided to say whatever is on my mind)
With Thanksgiving last week, I took some much-needed time off. Which means I didn’t prepare anything for this week’s blog posting. At least I’m honest. So here are a few things off the top of my head:
Mortgage rates have dropped! If you’re looking to refinance, now might be the time. Rates for 30-year fixed loans are down below 6%, which is just awesome. Same with 15-year loans. Do refinance if you have steady income, good credit, and your house is worth more than what you owe. Don’t even think about it if none of the above applies to you.
More good news: the number of homes sales is increasing in our area. In both Northern Virginia and Montgomery County, prices have dropped from October ’07 to October ’08, but the number of units sold has increased. In NoVA, sales are up almost 30%, while prices have dropped nearly 18%. In Montgomery County, sales are up just over 7% and prices are down 8.5%. Not bad, and I think it’s a sign that our market is stabilizing.
That’s it for now. I hope you all had a great Thanksgiving and are working through all the leftovers in your fridge! Peace out.
Mortgage rates have dropped! If you’re looking to refinance, now might be the time. Rates for 30-year fixed loans are down below 6%, which is just awesome. Same with 15-year loans. Do refinance if you have steady income, good credit, and your house is worth more than what you owe. Don’t even think about it if none of the above applies to you.
More good news: the number of homes sales is increasing in our area. In both Northern Virginia and Montgomery County, prices have dropped from October ’07 to October ’08, but the number of units sold has increased. In NoVA, sales are up almost 30%, while prices have dropped nearly 18%. In Montgomery County, sales are up just over 7% and prices are down 8.5%. Not bad, and I think it’s a sign that our market is stabilizing.
That’s it for now. I hope you all had a great Thanksgiving and are working through all the leftovers in your fridge! Peace out.
Monday, November 24, 2008
The Importance of Pre-qualification (or, Just do what I tell you)
Ok, so you’re ready to buy a home. You’ve spent hours on the internet looking at homes in your area. Before you even THINK about calling an agent and asking them to chauffer you around on the weekend, do yourself a big, huge favor.
CALL A LOAN OFFICER. Do not go to INeedALoanNowPlease.com. Call a real, live loan officer that works for a bank that will still be here next week. I know that might be a little tricky right now, as seemingly invincible outfits are going under. If you’re not sure whom to call, ask a real estate agent. If they’re good, they’ll be keeping up with who’s begging the feds for money and who’s not.
Be prepared to answer some personal questions. Long gone are the days of you saying you earn $100,000 per year and they just believe you. You’ll actually have to document this stuff. So have your tax forms, bank statements, and credit card statements handy.
And if you really want to be prepared, get a copy of your credit report. Once a year, you can get a free copy from each of the three major credit-reporting agencies. I don’t know about you, but I love free stuff. If it’s free, it’s for me. Go to www.annualcreditreport.com to get your report.
Once you have your pre-qualification letter in hand, go ahead and start looking in earnest for your new home. You’ve already done one of the hardest parts of home buying: taking a good look at your finances to know your buying power. So go ahead and call an agent to show you some houses. Now kick back, relax, and enjoy the ride.
Thanks so much for stopping by, and be sure to tune in next week. Hopefully I won’t be in a turkey coma. Happy Thanksgiving, everyone!!!
CALL A LOAN OFFICER. Do not go to INeedALoanNowPlease.com. Call a real, live loan officer that works for a bank that will still be here next week. I know that might be a little tricky right now, as seemingly invincible outfits are going under. If you’re not sure whom to call, ask a real estate agent. If they’re good, they’ll be keeping up with who’s begging the feds for money and who’s not.
Be prepared to answer some personal questions. Long gone are the days of you saying you earn $100,000 per year and they just believe you. You’ll actually have to document this stuff. So have your tax forms, bank statements, and credit card statements handy.
And if you really want to be prepared, get a copy of your credit report. Once a year, you can get a free copy from each of the three major credit-reporting agencies. I don’t know about you, but I love free stuff. If it’s free, it’s for me. Go to www.annualcreditreport.com to get your report.
Once you have your pre-qualification letter in hand, go ahead and start looking in earnest for your new home. You’ve already done one of the hardest parts of home buying: taking a good look at your finances to know your buying power. So go ahead and call an agent to show you some houses. Now kick back, relax, and enjoy the ride.
Thanks so much for stopping by, and be sure to tune in next week. Hopefully I won’t be in a turkey coma. Happy Thanksgiving, everyone!!!
Monday, November 17, 2008
Welcome
Welcome to the first installment of my blog. For the most part, I’ll cover real estate related material. Occasionally, I might go off on a tangent about some other subject near and dear to my heart, but I’ll try to keep everything timely and informative. With a little luck, I might even manage to make the material interesting and humorous. That’s the goal, anyway.
A lot of real estate blogs are written by agents for other agents. Not mine. I want a direct line to you, the average person wandering around in cyberspace hoping to gain a bit of knowledge about the messy business of real estate. And, oh man, has been it messy lately.
When I got into this business, I had no idea how bad the public’s perception of agents was. In case you don’t know, surveys show real estate agents rank right up there with politicians and used car salespeople in trustworthiness. (Seriously, politicians!) So I’ve made it my personal goal to change as many minds as I can. I promise not to write anything titled, “10 Reasons Why You Should Use an Agent,” or “NOW is the Time to Buy/Sell/Rent (choose one).” I’d actually like to impart valuable knowledge to the brave souls who read my posts. I don’t smoke anymore so I’m not going to waste my time blowing smoke. This is my pledge to you, dear reader.
I’m still searching for a permanent name for the blog, so if you have a suggestion, please send it along. If I use it, you’ll get a heartfelt “thank you” and if you’re not embarrassed, I’ll even give you credit. Then when I’m famous, you can tell your children how you helped me get my start. Also, if there are subjects that you’d like me to cover or questions you want answered, let me know. (Note: If you are one of those creepy people who has found this post at 3am and who wants to know what I’m wearing, don’t bother. I never wear anything when I write. And no, I don’t have a web cam.)
Be sure to tune in next week for some good tidbits. Thanks for stopping by, and be careful out there.
A lot of real estate blogs are written by agents for other agents. Not mine. I want a direct line to you, the average person wandering around in cyberspace hoping to gain a bit of knowledge about the messy business of real estate. And, oh man, has been it messy lately.
When I got into this business, I had no idea how bad the public’s perception of agents was. In case you don’t know, surveys show real estate agents rank right up there with politicians and used car salespeople in trustworthiness. (Seriously, politicians!) So I’ve made it my personal goal to change as many minds as I can. I promise not to write anything titled, “10 Reasons Why You Should Use an Agent,” or “NOW is the Time to Buy/Sell/Rent (choose one).” I’d actually like to impart valuable knowledge to the brave souls who read my posts. I don’t smoke anymore so I’m not going to waste my time blowing smoke. This is my pledge to you, dear reader.
I’m still searching for a permanent name for the blog, so if you have a suggestion, please send it along. If I use it, you’ll get a heartfelt “thank you” and if you’re not embarrassed, I’ll even give you credit. Then when I’m famous, you can tell your children how you helped me get my start. Also, if there are subjects that you’d like me to cover or questions you want answered, let me know. (Note: If you are one of those creepy people who has found this post at 3am and who wants to know what I’m wearing, don’t bother. I never wear anything when I write. And no, I don’t have a web cam.)
Be sure to tune in next week for some good tidbits. Thanks for stopping by, and be careful out there.
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