Thursday, July 26, 2007

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!

Real estate: Good curb appeal helps sell a house

BY JESSICA DAMIANO
Special to Newsday
July 26, 2007, 7:56 AM EDT

Terry and Maureen Ferrante of Sea Cliff had always taken pride in the property around their painted-lady Victorian. But after they placed the house on the market early this month, they worked even harder to ensure the gardens were impeccable.

"We pruned all the trees and bushes and planted flowers," Maureen Ferrante, 58, a mental health counselor, says. "Terry planted about 150 impatiens in various colors and put down wood chips so it would look neat. He cleaned everything up and made sure that when you pull up to the house, you see how beautiful it is."

That's exactly the approach homeowners should take in landscaping their property to speed up the sale of their house, says Barb Schwarz, creator of the home-staging philosophy and founder of the International Association of Home Staging Professionals, which educates stagers, or stylists, to prepare houses for sale.

"We've found that staging the outside is crucial because otherwise you can't get people inside," Schwarz says, adding that homeowners who stage the outside of their houses will garner a 3.95 percent higher selling price than those who do not.

John Langone, a partner and associate broker with Richard B. Arnold Real Estate in Sea Cliff, says some buyers won't even go into a house if they don't like its outside appearance.

Something as basic as an unobstructed view of the house can add to its appeal, Langone says. "If bushes and trees are blocking the house, it definitely detracts," he says.

Neatness counts
So how can sellers entice shoppers to get out of their cars and come inside?

One thing many homeowners forget to do, Schwarz says, is to declutter the yard of toys and little pots. "It's far better to have fewer bigger pots than the clutter of smaller hanging pots," she says. "They just weigh down the house."

Another tip from Schwarz, who reminds sellers that buyers only know what they see: "If the grass is dead where the dog has urinated, paint it. I recommend using Sherwin Williams Emerald Green. That's the right color."

Just as you'll likely vacuum more often and keep your countertops clear while your house is on the market, Val Allocco, owner of Staged 2 Sell NY, a home staging company in Northport, says the same effort should be put into the garden.

Changes don't have to be upscale or expensive, she says.

She suggests that sellers aim for a neat and well-manicured look: Be sure the grass is cut and bushes are trimmed, that nothing is overgrown and that garden beds are free of weeds.

If there's no color in the garden, plant some flowers and place planters outside the door or along the walkway. She says adding color can be as simple as purchasing an inexpensive hanging planter filled with impatiens. Clip the hanger and set it on the porch.

Landscaping touches
Allocco also recommends paying a landscaper to do a good weeding and to edge the lawn. "This is where people get their first impression," she says. "If the yard doesn't look well-manicured, then they feel the home hasn't been well maintained."

Schwarz recommends trimming trees from the bottom to allow the house to be viewed through them. "Don't chop off the tops," she instructs. Foundation plants, on the other hand, should be rounded off and trimmed from the top so they don't block windows.

She also recommends looking at your house from across the street. "It's a different view than you'll get from your own driveway," she says. "It's the only way to see what buyers will see."

Cindi Wardell of Huntington recently went into contract on her four-bedroom Colonial near her asking price of $849,000 in less than eight weeks. Although she didn't hire a stager, she did arrange to have her garden designer, Marie Knapp of Laurel Hollow, visit more often. She did more weeding and kept the garden more spruced up than usual and she changed the flowers in the planters to keep them fresh.

"I always start with annuals," Knapp says. "I added spring flowers in pots and along the edges of borders. When they faded, I put in summer annuals like Vinca periwinkle, and I jazzed up her pots."

Knapp recommends dressing up bare spots in the garden with flowerpots. "The great thing about pots is you can move them around," she says. And if there's time to plan ahead, she suggests a trio of shrubs that provide season-long interest: Lilacs, roses and hydrangeas.
Knapp, who favors annuals like Plumbago and Angelonia, also took care to ensure the willow and Annabelle hydrangea in Wardell's garden match the off-white trim on the house and the picket fence.

Her pet peeve? "I think it's such a turnoff when you go to a house and the foundation plantings are out of scale. It's so uninviting," she says. "If something is overgrown, I would consider removing it and putting in something smaller."

Planning far in advance
Wardell, 52, who is retired from the real estate industry, says she believes the presentation of her house helped counter its location on a busy road that might have been unappealing to some shoppers. "I knew it needed something extra because of where it was situated," she says.

"When I bought the house three years ago, there was no landscaping at all," Wardell says. "What I did was mostly for myself, but I also thought about resale value. In the backyard, I put in 12 of the fastest-growing evergreens ever - Leland cypresses - so you can't see any of the homes behind me anymore. I think the secluded feeling really added to my selling price."

In addition to landscaping, Allocco says other front-yard items often are overlooked. The driveway should be clean and presentable. The walkway should be free of stains. If it isn't, she recommends power-washing. If it's made of cement, be sure there aren't any weeds growing through the cracks, she advises.

For a finishing touch, Allocco says buyers should purchase a new front doormat. "The little things really make a difference," she says.

The bottom line, Langone says, is pride of ownership. "When people take care of the outside, it shows that they love their home. When buyers see that, it gives the impression they take care of the inside as well."

Tips for a snip-shape yard
Even if you think you already have good curb appeal, Northport home stager Val Allocco says "styling" can help you get top dollar. And you don't even have to spend a lot of money. Here are five elements you can borrow from successful seller Cindi Wardell's Huntington home for creating an inviting entrance and getting you on your way to that coveted "sold" sign.

-Planters on front steps add color.
-Lawn is well manicured.
-Bushes are neatly trimmed.
-Plantings create symmetry.
-Garden beds are weed-free.

For a winter wonderland
What about winter? There isn't much you can do by way of landscaping during the winter months, but these tips from Northport home stager Val Allocco might make your house more inviting:

-Keep the sidewalk shoveled.
-Make sure the walkways are never icy.
-Put a welcoming wreath on the front door.
-For a manicured look, buy two inexpensive, small evergreen trees and place them in planters on either side of the front door.

- JESSICA DAMIANO Copyright 2007 Newsday Inc..

Thursday, July 19, 2007

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!

6 Incentives to Attract Buyers to Your Listings

Daily Real Estate News July 17, 2007

6 Incentives to Attract Buyers to Your Listings

Flashy buyer incentives — such as a new TV or car — may entice some buyers, but bottom line perks are more likely to close a sale, say experienced real estate professionals.

Here are the six most common buyer incentives in today's market:

1. Reduce the price. "The price is something that is a common currency — it appeals to everybody," says Gene Rivers, who owns four Keller Williams offices in Florida.

2. Pay points. One point is 1 percent of the loan amount, charged as prepaid interest. Sellers can pay these points on behalf of the buyer, so for the first year or two, the buyer has a lower mortgage payment.

3. Assist with the down payment. First-time buyers without enough money for a down payment appreciate this kind of assistance.

4. Pay closing costs. Closing costs generally add up to somewhere between 2 percent and 7 percent of the loan value, according to Freddie Mac. Buyers who are stretching to make a down payment will be attracted to this type of help.

5. Add a home warranty. A residential service contract is some insurance that the buyer won’t encounter high repair costs in the first year or two of home ownership.

6. Pay home owner association fees or pool maintenance. Paying these kinds of predictable maintenance costs at the beginning can be a nice welcome to the buyer when money undoubtedly will be tight for them.

Source: MarketWatch, Amy Hoak (07/15/07)

Thursday, July 12, 2007

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!

NAR: Home Prices to Recover in 2008

Daily Real Estate News July 11, 2007
NAR: Home Prices to Recover in 2008

The latest economic forecast by the NATIONAL ASSOCIATION OF REALTORS® shows home prices recovering in 2008 as housing inventory falls from current levels.

“Buyers now have an overwhelming advantage given the wide selection of homes available in many markets,” says Lawrence Yun, NAR senior economist. “But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state.”

NAR says existing-home sales will begin picking up late this year, rising to a total of 6.11 million for 2007 and 6.37 million in 2008. Those numbers are both lower than last year's 6.48 million.

Meanwhile, new-home sales are projected to reach 865,000 in 2007 and rise to 878,000 next year, compared with 1.05 million in 2006. Housing starts, including multifamily units, are forecast at 1.43 million units this year and 1.44 million in 2008, down from 1.80 million last year.will start to rise early next year.

Prices Seen Rising for New, Existing Homes

Existing-home prices are likely to rise 1.8 percent to a median of $222,700 in 2008 after a 1.4 percent decline this year to $218,800.

The median new-home price should rise 2.2 percent to $245,400 next year following a 2.6 percent drop in 2007 to $240,100.

“Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008,” Yun says. “Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters.”

Other Predictions: Mortgage Rates, Jobs, GDP

The 30-year fixed-rate mortgage is estimated to average 6.7 percent during the second half of this year, and fluctuate around 6.6 percent in 2008.

Growth in the U.S. gross domestic product (GDP) will probably be 2.0 percent in 2007, compared with a 3.3 percent growth rate last year; GDP is forecast to grow 2.8 percent in 2008.

The unemployment rate is likely to average 4.6 percent in 2007, unchanged from last year. Inflation, as measured by the Consumer Price Index, is projected at 2.6 percent in 2007, down from 3.2 percent last year. Inflation-adjusted disposable personal income should rise 3.0 percent this year, up from a 2.6 percent gain in 2006.

— REALTOR® Magazine Online

Thursday, July 05, 2007

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!

'Groundbreaking' Celebrates The Old and New

By Jacqueline DupreeThursday, June 28, 2007; Page DZ03

Ballpark and Beyond is from Jacqueline Dupree's blog on development in Near Southeast Washington, an area between Capitol Hill and the Anacostia River that is being transformed by the construction of the Nationals baseball stadium.

On Tuesday, the D.C. Housing Authority had a ceremonial groundbreaking at Fourth and K streets SE to celebrate the redevelopment of the old Arthur Capper/Carrollsburg public housing project.

It was a pretty warm day, but the tent was air-conditioned. There was a bit of a revival feel as authority Executive Director Michael Kelly, D.C. Council member Tommy Wells (D-Ward 6) and other officials sang the praises of the federal-city-private partnership that has leveraged a $35 million U.S. Housing and Urban Development grant into a nearly $500 million revitalization project.

Kelly and others spoke with particular pride about how all 707 units of public housing at Capper/Carrollsburg will be replaced in the new development, which will include 525 affordable rental units and 330 market- and workforce-rate homes. The 23-acre project is a joint venture of Forest City Enterprises, Mid-City Urban and the authority.

The townhouse portion of the redevelopment, now named Capitol Quarter, will have about 121 market-rate and 91 workforce-rate ownership houses. An additional 65 townhouses will contain 111 subsidized rental units and Section 8 ownership units.

The market-rate houses are being made available for reservation in monthly blocks, with tents popping up at the sales center as hopeful homeowners stake their claims. There was a lottery in October for the first 20 workforce units. I imagine another will be coming before too long, although nothing's been announced.

Construction will begin on the first homes in early 2008, and infrastructure work at the site has begun.

Many former Capper residents were at the groundbreaking, clearly excited about what they will be returning to. Kivette Abraham, whose mother moved there when the complex opened in 1956, spoke of being one of the 55 Capper households participating in the community support services homeownership education and counseling program, which will help her to buy a home in the community where she's spent almost her entire life.

As for the rest of the project, 300 low-income rental units have been completed since December in two new buildings for senior citizens and low-income residents. Four mixed-income apartment buildings planned along the new Canal Park between Second and Third streets and I and M streets SE will eventually complete the residential component. Construction probably won't start before 2010. In the meantime, temporary surface parking lots will soon appear on those blocks to help ease the expected Nationals stadium parking crunch.

Office buildings totaling 700,000 square feet are also part of the long-range Capper plan, as are 50,000 square feet of retail. A new community center is on the boards as well, replacing the one demolished earlier this year.