Another Huge Auction Coming

As many of you know, in the early spring I attended the Real Estate Disposition Corporation's (REDC) house auction at the Washington Convention Center. There were over 9,000 bidders and I was able to snag 2 investment properties for my own investment group which we turned into successful rental properties. I wanted to let everyone know that REDC is coming back to town for yet another auction. The coming auction is on October 4th and 5th and will again be at the Washington Convention Center. It looks like they have about 450 houses to auction off, with most of them in Northern Virginia.

Looks like there is some good stuff in DC as well, in fact I notice there are big auction signs at the corner of 8th and K Streets NE in SOFLO (South of Florida Avenue). The exact address is 800 K Street NE, it's the big green monster on the corner that backs to West Virginia Avenue, NE. This house has been on the market a while. I have not shown it, but our Buyer Specialist Charlynne has and she tells me that it needs some serious TLC but that the bones are there.



Another one that caught my eye was 300 Oklahoma Avenue NE #201 over in Kingman Park/Hill East neighborhood. They have a starting bid on that OK Ave condo at 49K, not bad, I think you could cover rent on that if you got it under 100K easily.

For more information, be sure to see their website with all the auction listings at www.USHomeAuction.com. You will find auctions all over the country, the link to the DC listings are further down the page. Good luck, and if you want to know more about my auction experience feel free to call me at 202-369-9821 or email me at Michael@RealAstute.com

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 this 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!)

DC Annual Tax Sale Approaches

The District of Columbia has announced their annual tax sale to being on September 17th. As many of you know, I have sucessfuly purchased property at past tax sales and would be more than happy to advise folks on how the tax sale process works. Feel free to contact me at 202-369-9821 or Michael@RealAstute.com for assistance.

You can find a list of the properties being offered at the tax sale at the District's website at http://www.dc.gov/. Here is some additional information from the http://www.dc.gov/ website about the sale:

District Properties With Unpaid Taxes to be Sold at Public Auction Beginning September 17 (Washington, DC) - The District of Columbia Office of Tax and Revenue (OTR) announced today that it is advertising for sale at public auction more than 3400 commercial and residential real property tax liens, for which property taxes for the 2007 tax year are unpaid. The sale runs 8:30 am to noon and 1 pm to 4 pm September 17-19, at the Government Printing Office, 732 North Capitol Street, NW, 8th Floor, Washington, DC 20401.

Bidder registration for the sale is mandatory and begins on Friday, September 12, and continues until the final day of the sale. To register, prospective bidders must make a deposit of at least 20 percent of their total bid and a $150 Tax Sale fee will be added to each property at the time of the sale. Purchasers are also required to complete Form FR-500, Combined Business Tax Registration Application, prior to registering. The form can be found at OTR’s website at http://www.taxpayerservicecenter.com/ under “Tax Forms/Publications.”

Property owners with unpaid taxes have until the date of the auction to pay any taxes due and avoid having their properties sold. To pay or inquire about the status of a delinquent property, call the OTR Customer Service Center at (202) 727-4TAX (4829) or visit the Customer Service Walk-In Center at 941 North Capitol Street, NE, on the 1st floor.

Last year, 2,082 liens were sold, and a total of $6.7 million in delinquent tax revenue was collected.

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 this 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!)

Walk Score

Very often when buyers are trying to figure out if they can live without a car I suggest going to the neighborhood and walking around, seeing what is available on foot. Additionally, for folks without cars sometime I will suggest taking the metro to look at houses/condos with them, that way we get a good feel for the walkability of the neighborhood.

The task of deciding if a neighborhood/address is walkable has become much easier with the invention of the website http://www.walkscore.com/. Here you can simply type in the address of your home or office and it will rate the walkability for you and detail all the relevant commercial and transportation options near a given location.

A great new resource for folks thinking of going car free! Again, check it out at http://www.walkscore.com/. As always, for all your real estate needs feel free to contact me at Michael@RealAstute.com or 202-369-9821.

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 this 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!)

Next Hot Spots!?!?

The Washington Business Journal publishes a quarterly magazine about real estate that they call OnSite. Last week the latest OnSite arrived in the mail with a great piece on “The Next Big Hot Spots” in the DC area. It is a great article, and it highlights a few areas that I have recently been intrigued by which I plan to blog about for the next few weeks. As a Realtor I am also always trying to pick where the next hot spots will be, just ask my wife because she is the one who has to ride around with me and listen to me go on and on about future development, which she loves!

The article mentions “Hill East”, which is the 67 acre site known as Reservation 13 consisting of the old DC General Hospital several other support building for the city. In late spring the city sent out an RFP for this site, here is an initial sketch the city has on their website:



I was thrilled to see the mention of Hill East in the article; I have long been telling clients that eventually they will extend the footprint of the Hill all the way down to the Anacostia River, which will really give Hill residents the opportunity to enjoy the river. The Anacostia River has improved over the years, but it has a long way to go, you can learn more at the Anacostia Watershed Restoration Partnership’s website at http://www.anacostia.net, or at the Anacostia Watershed Society at http://www.anacostiaws.org.

Finally, I got a lot of feedback from last week’s blog post about my client and friend who had her bike removed from the Union Station bike rack because it was deemed too ugly. As I shared last week, she wrote a letter to the editor at the Washington Post which they published. Here is a picture of the controversial bike:



I personally don’t think it looks that bad! In an exciting twist, NBC 4 picked up the story, and you can see the piece here. This is a great story and I am hoping that Union Station will get enough heat that they will buy my friend a new lock!

That is all for now. As always, if you need help buying or selling please do not hesitate to drop me a line at 202-369-9821 or Michael@RealAstute.com.

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 this 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!)

Bike Sharing Has Arrived!

This week the Washington Post featured a great article about the exciting new bike sharing program in the District. I am personally quite excited to see that the city has started this program and I hope that they plan to expand it to the “non-NW” areas of the city.

I think it would be great to have it Union Station and Eastern Market at a minimum. The Capitol Hill area is already such a walking/biking friendly area. I think that the SmartBike DC program is a perfect complement to the already existing and thriving ZipCar which I enjoy using on a regular basis.

Did you know - the District now features nearly 34 miles of bike lanes around the city. In fact, just in the last few weeks they have added several miles through my Brookland neighborhood. Some of the most scenic streets in DC now have bike lanes, like East Capitol Street here on Capitol Hill. You can learn about these bike lanes at several websites, including http://bikewashington.org or http://www.waba.org.

Speaking of biking, one of my favorite clients had a wonderfully entertaining Letter to the Editor in today’s Washington Post. Apparently her bike is simply not sexy enough for Union Station standards. Enjoy her letter here:

Union Station's Chutzpah
The Washington Post Opinion Page
Thursday, August 14, 2008; A16

Like many people these days, I am concerned about the environment, and I try to do my part to reduce my environmental impact. I recycle, and my garden consists of native plants. Instead of driving from my house on Capitol Hill to my job in Silver Spring, I ride my bike to Union Station and hop on the Metro.

Unlike the bikes being rolled out in the SmartBike DC program [Metro, Aug. 13], my bike is old. I bought it used from a bike store a few years ago, and it has certainly seen better days.
But it functions just as it should, taking me from point A to point B. So imagine my shock and sadness when I got off the Metro after work Tuesday and my bike was missing from the bike rack outside Union Station.

I went to the nearest security guard to report the apparent theft, and he promptly retrieved my "stolen" bike. As it turned out, my bike had been judged to be "unsightly" by Union Station standards and had been impounded. They had cut the lock and confiscated the machine, obviously without bothering to verify whether it was abandoned or just a little beat up.

Are they serious? Is this a message the District wants to send? Is this how the nation's capital is promoting sustainability? Is the city going to confiscate old cars that function perfectly well? Are banks going to reclaim houses that show some peeling paint? Give me a break . . . and a new bike lock while you're at it.
GEORGINA ARDALAN
Washington

All this bike talk gets me thinking; maybe I could show houses on bike - that could be fun! As always, if you need help buying or selling please let me know at Michael@RealAstute.com or 202-369-9821. Happy biking! Michael

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 this 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!)

I love Flipping Out!

Who saw the season finale of “Flipping Out” on Bravo? I can’t get enough of this show. Jeff Lewis is both crazy and brilliant at the same time. Yes, his OCD tendencies are nutty and he treats his staff bizarrely, but his renovation work has a great modern and sleek aesthetic.

I think my favorite moment in the finale this week was when Jenni said that a situation was a “Cluster Foogayzee.” I can think of many moments in this biz that are absolute cluster foogayzees, I think I might start using this term. Another great moment came when Jeff had to scoop the human poop that was out back at one if his flips. There was another moment like this in season one which he makes reference to in the scene. I am guessing it’s a disgruntled, or just lazy, employee!

I had missed last week’s episode, so I watched it the hour before the finale started and I was pleased to see that Chris Keslar quit. After the guacamole incident I thought he had to quit to retain any sort of self respect. I am dying to know if Jenni and Chris Elwood are officially over. That story line made me a little sad for Jenni. It must be tough to have your personal life broadcast on TV, I am sure when she signed up she never saw this coming. I guess that is why I really enjoy this show; it is the closest to “reality” that a reality show can get.

There is a wrap up interview show on Tuesday, August 12th at 10 pm which I am hoping will answer some of my lingering questions. I sure hope that Bravo renews this show for another season, until then you can visit their website here. Oh, and I won’t be wasting my time with the second season of Million Dollar Listing, it will just make me bitter!

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 this 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!)

New Housing Bill to Help Stabalize Market

It looks like the House and Senate have agreed on a Housing Bill that will do several things to help stabilize the housing market. The President has said he will sign it.

It’s a lot of stuff…so what does it all mean?

First time home buyers can receive a $7,500.00 tax credit when they buy a home. Similar to the tax credit for buying in DC, the home buyer will get the $7,500.00 when they file their Federal Taxes (not at settlement). There are income limits, and the amount will be reduced for higher incomes. Unlike the DC tax credit, it must be repaid. Each year, for 15 years, 6% of the amount owed will be taken out of the buyer's tax returns. This is a big win for FTHBs and should help many get off the fence. This will be effective for homes bought starting April 9, 2008 - July 1, 2009. No word on how this will or wont impact the DC Tax Credit.

The conforming loan limit, which is currently $417,000 will be increased, up to $625,000 in high cost areas. If they use the same median price to calculate this limit as they did for the Temporary Loan Limits, we should see $625,000 in out market. This also applies to FHA!!! This is more good news. Don't confuse this with the temporary loan limit of $729,750 that we currently have for High Balance Conforming and High Balance FHA. The $729,750 is scheduled to expire on December 31, 2008. The $625,000 is permanent. So from now until the end of the year, we have $729,750, after that it drops to an expected $625,000. This may be enough to get certain buyers off that fence.

The Seller Funded Down Payment Assistance programs (Genesis, Ameridream, Nehemiah), that I have been talking about as a way to get to zero down, will be going away effective Sept 30th. They will no longer be allowed with FHA financing (and are not currently allowed with conventional financing).

The minimum amount of money a borrower has to put into an FHA loan will go up from 3% to 3.5%.

Additional safe guards have been put in place to protect Fannie Mae and Freddie Mac, in the very unlikely event they need it. Basically, the US Treasury will give them a big line of credit to borrow from, if they need it. This got a lot of press, and there has been talk about Fannie or Freddie "failing". The general consensus is that Fannie and Freddie are in strong financial shape. These safe guards have been put in place mainly to stop rumor mongering, so that Fannie and Freddie can go about doing their very important business. However, if the sky should fall, the US Govt now has said explicitly that they will back Fannie and Freddie. This is more good news.

A system has been set up to assist homeowner in distress to refinance out of high cost mortgages into more affordable FHA loans. This is good, not just because it helps people keep their homes, but it also helps prevent vacant homes and deterioration of neighborhoods.

There are, of course, many other details to the Bill. I think these are the highlights that affect us most. The up shot is that the Government has come out strongly in support of the housing market.

Information provided by:
J. Ryan Dailey
Loan Officer
Prosperity Mortgage Company
3201 New Mexico Ave. NW
Washington, DC 20016
202.363.1800 x3753 Tel
301.580.8236 Cell
866.359.7966 Fax
Ryan.Dailey@ProsperityMortgage.com

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 this 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!)

Capitol Hill East Auction Properties

On any weekday you can grab a The Washington Post classifieds and see the large assortment of local properties being auctioned off in the coming weeks. I noticed in Wednesday's paper that Harvey West Auctioneers, Inc. will be auctioning 3 properties in the "Hill East" neighborhood on July 22nd. The three addresses that peaked my curiosity were, 1041 16th Street NE, 1629 F Street NE and 2041 Gales Street NE. I drove by these properties yesterday and they would be great investment properties. I have some experience with these types of auctions and would be happy to share my knowledge with interested parties, just email me at Michael@RealAstute.com or call me at 202-369-9821.

Learn more by visiting the Harvey West website.

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 this 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!)

National Park Seminary at Forest Glen

Recently my wife and I rode out to Forest Glen, Maryland to check out the condos and single family homes being developed at the National Park Seminary, on the web at www.NationalParkSeminary.com. We were amazed at the wonderful re-use of previous buildings at the site. The entire site is historic and there are great buildings like a chapel, a ballroom, a gym and even stables that are all being turned in to condos. The creative re-use of the site reminds me of the Gage School in Ledroit Park (www.ParkerFlats.com) where condos are still available in an old public school building. One of our clients bought in that building, which features amazing exposed brick, high ceilings and dramatic windows. So, if you are thinking of a condo but want something different from the average tall building you might consider National Park Seminary or Gage School. For more information on either property please feel free to contact me at Michael@RealAstute.com or 202-369-9821.

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 this 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!)

Update on the O Street Market!

The city announced this week that they have worked out funding for the renovation of the O Street Market that I blogged about a few weeks ago. This is great news for Historic Shaw. Here is the city's Press Release:

District Reaches Financing Deal for $260 Million O Street Market

(Washington, DC) – Mayor Adrian M. Fenty on Friday announced the District reached a financing agreement with Roadside Development to provide a $35 million tax increment financing (TIF) package necessary to bridge a financing gap for the $260 million mixed-used redevelopment of the historic O Street Market in the heart of the Shaw neighborhood.

“The O Street Market was once a great commercial center in the Shaw community and this project will breathe new life into this historic site,” said Mayor Fenty. “We’ve agreed to provide a financing package that will not only make this project feasible, but one that will bring real community benefits for Shaw residents and the city at large.”

Located two blocks from the Walter E. Washington Convention Center, the two-block site currently consists of a 28-year-old Giant grocery store, a surface parking lot and the brick shell of the historic market. Roadside plans to transform the site into a 630-unit of housing – including 80 affordable senior units – a 200-room hotel, a 560-space parking garage and 87,000 square feet of retail, including a new Giant store that will be more than twice the size of the existing store on the site.

Under the TIF agreement, the District will support bond issuance to cover a portion of the initial construction costs, and the bonds will be repaid using a portion of the new tax revenue generated by the project. The TIF package is pending approval from the DC Council.

The development plan calls for re-opening Eighth Street, NW and incorporating the historic market into the larger project, which has been named CityMarket at O Street.

The project is expected to create 400 construction jobs and almost 400 permanent jobs. As a part of the TIF agreement, more than half of those jobs must first be offered to District residents. The agreement also calls for green design and meaningful opportunities for small retailers, local contractors and investors.

Community Preservation and Development Corp., a non profit housing developer, and Blue Skye Housing will build the senior housing portion of the project. Roadside is expected to break ground next fall.

As always, you can reach me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

Shaping the City

Neighborhood revitalization requires an immense amount of planning and investment, but the rewards can be priceless. To read more on the subject, click here for the article "Lessons of Arlington's Urban Development Needn't Be Just History", written by Roger K. Lewis.

As always, you can reach me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

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 this 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!)

D.C. Home Transformed Into Model of Universal Design

The D.C. chapter of AARP, the senior citizen advocacy group, has transformed a vacant red brick house in Northeast Washington into a model home for universal design. To read the full Washington Post article, written by Barbara Ruben, Click Here!



As always, you can reach me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

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 this 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!)

A Garden-Variety Masterwork

Murals and outdoor artwork are becoming increasingly popular. Why not put a personal stamp on the exterior of your home? Click here to read about murals in private homes around the the city, written by Stephanie Cavanaugh.



As always, you can reach me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

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 this 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!)

Great New Listing in Historic Shaw So Close to O Street Market

I am so excited about our new listing at 1512 8th Street NW because it is right in the heart of Historic Shaw and literally a stones throw from the Giant and the exciting new development at the Historic O Street Market. Be sure to read below the recent Washington Business Journal article about the proposed restoration of the O Street Market and the new development slated for this area. It is so close to Logan and Dupont Circles too! Here is the thing, the place isn’t livable! Help us find the perfect person to buy this shell and make it the masterpiece it once was. The original woodwork and fireplaces and claw foot tub remain, and just need a loving renovator to bring this place back to life. Click HERE for pictures.

Also, read the Washington Business Journal article about the O Street Market Project by Gillian Gaynair here.

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 this 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!)

Brookland House and Garden Tour 2008

As many of you know, my wife and I live in NE DC's Brookland neighborhood and we love it! Brookland is on the Red Line, just 2 stops north of Union Station and is adjacent to Catholic University.

This Sunday, June 1st, the Greater Brookland Garden Club is hosting the annual Brookland House and Garden Tour from Noon to 5 pm. If you haven't been to Brookland, here is your chance. While you are here check the amazing gardens at the Franciscan Monastery. I live in the 1500 block of Lawrence Street, NE and happen to think it is the most beautiful block in Brookland!

Click Here to learn more about the Brookland House and Garden Tour. Hope to see you Sunday!

As always, if you are interested in real estate in Brookland or anywhere else in the DC, Maryland or Northern Virginia area, please feel free to contact me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

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 this 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!)

Hill East News and Another REDC Auction!

Great news for Capitol Hill East announced last week:

May 14, 2008

Fenty Announces Solicitation for Master Developer for Hill East

50-Acre Waterfront Site is the Last Major Waterfront Opportunity on Anacostia River

Mayor Adrian M. Fenty on Wednesday announced the District has issued a Request for Expressions of Interest (RFEI) to attract a master developer to transform the former D.C. General Hospital campus and 50 acres of land into a new waterfront neighborhood that will be a national model for green building and sustainable development.

“Hill East is the last major piece of the District’s ambitious Anacostia Waterfront Initiative,” said Mayor Fenty. “This is an incredible opportunity to reconnect the Capitol Hill neighborhoods to the Anacostia River.”

The RFEI builds upon years of community-based planning, including the Hill East Master Plan that was approved by the D.C. Council in 2002. The site could accommodate up to 5 million square feet of residential, commercial and mixed-use buildings including new primary care health facilities and neighborhood-serving retail. Hill East Waterfront offers an opportunity to become a model for sustainable urban development. The U.S. Green Building Council selected this site as a LEED neighborhood development area and current designs for stormwater management already incorporate best practices for low-impact development.

Under the stewardship of the former Anacostia Waterfront Corporation and now the District’s Office of the Deputy Mayor for Planning and Economic Development, the District has already begun to redevelop the Hill East site. The District completed work on an interim plaza this month, which will ultimately become a village square above the Stadium-Armory Metrorail station. Design work for the extension of Massachusetts Avenue is 90 percent complete. The historic Anne Archbold Hall will be preserved and incorporated into the project. Stabilization work will begin this year.

Several national and international development firms expressed interest in responding to the solicitation after it was promoted at an Urban Land Institute Green Conference in North Carolina in April. Given the scale and complexity of the project, the District expects the redevelopment timeline will likely span at least 10 years.

Hill East is one of three major redevelopment sites that comprise the Anacostia Waterfront Initiative – a 20 year plan to reconnect the District’s residents and neighborhoods to the Anacostia River. Taken together with the Southwest Waterfront project and the redevelopment of Poplar Point, the three projects represent more than 12 million square feet of development potential.

The RFEI is available at http://www.hilleastwaterfrontdc.com/

Also, Real Estate Disposition Corporation (REDC) has announced another huge auction for the DC, Maryland and Virginia areas. As many of you know, I bought 2 properties at the last REDC Auction in DC and I have tenants in one and I am almost finished renovating another. I am more than happy to chat with folks about the process and my experience buying auction properties.

You can see the entire auction inventory by visiting REDC's website at: http://www.ushomeauction.com/.

As always, you can reach me, Michael Dillon, at Michael@RealAstute.com or on my cell at 202-369-9821.

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 this 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!)

Luxury Foreclosures

Luxury Foreclosures

For sale: Spacious home outfitted with six bedrooms, 5 1/2 baths, granite countertops, stainless-steel kitchen appliances, a three-car garage, exercise room and wet bar -- all for $875,000 in the Red Cedar West subdivision of Leesburg where houses once sold for $1-million-plus. The foreclosure signs have been showing up in more afflluent neighborhoods, and you could take advantage!

To read the entire article by Kendra Marr Click Here!

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 this 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!)

Steps in Financing a Home, From Qualification to Lock

Home buyers sometimes get into trouble because they don't understand the steps involved in financing their purchases. These steps are qualification, preapproval, approval and lock. To read more about these important steps, click here to read the full article in The Washington Post, written by Jack Guttentag.

As always, if you have any questions, feel free to contact me!
Michael
(Michael@RealAstute.com)

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 this 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!)

Montgomery County Foreclosure Bus Tour

This Saturday, May 3rd from 9 am to 3 pm, Long and Foster is offering their first ever "Foreclosure Bus Tour" around Montgomery County.

My favorite home inspector Richard Rashke of US Inspect is going to be the on-bus inspection expert.

If you would like to attend the bus tour, please let me know ASAP at Michael@RealAstute.com or by calling me at 202-369-9821.

Read more about the tour in the official press release here:
LONG & FOSTER FORECLOSURE BUS TOUR MAY 3

Silver Spring, MD (April 23, 2008) – Long & Foster’s Downtown Silver Spring Office is leading a series of foreclosure bus tours with the first tour scheduled for Saturday, May 3, at 9:00am to 3:00 pm. The tour will focus primarily on single family homes in Montgomery County, Maryland.

The tour will begin and end at the Long & Foster office at 8701 Georgia Avenue in Silver Spring. The office is just 3 blocks from the Silver Spring/Red Line Metro station, and there is plenty of free parking close at hand. Future tours will focus on Prince Georges County and the District of Columbia.

“First-time homebuyers certainly can afford a detached home in Montgomery County – they just need to know where to look,” asserts Michael McGreevy, manager of Long & Foster’s Silver Spring Downtown office. “Our tour will feature 8-10 area homes, primarily bank foreclosures, which are listed from the low $300’s.” The market is full of opportunities for all level of buyers and this bus trip will highlight just some of those. Purchasing today while the inventory is high and the interest rates are low allows buyers to build equity towards trading up in the market at a later date.

In addition to actually visiting properties available for purchase, participants will spend time with mortgage lenders, home inspectors, settlement attorneys, and other key players in the industry. “The tour will be a home-buyer’s seminar on wheels,” points out Arelis A. Pérez, an experienced Long & Foster sales associate. “Tour participants may question the industry experts as they tour the properties, and as they travel from one property to another.”

“Bank-owned properties present a unique opportunity for the informed home-buyer,” adds Debra Hinkle, another experienced Long & Foster sales associate spearheading the tour. “Some of these homes are only in need of primarily cosmetic repairs – the kind that can be performed with little or no construction renovation experience.” Bank-owned and foreclosure properties are offered strictly in “as-is” condition, so buyers should expect no repairs to be made by the seller.

###

Again, to attend the tour, just email me at Michael@RealAstute.com or call at 202-369-9821. And as always, for all your real estate needs do not hesitate to contact me at any time!

Michael

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 this 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!)

New Life for Old Firehouse!

You know that old firehouse on North Capitol Street NW that you have passed a million times when you are driving north on North Capitol, it’s on the left just after North Cap and Florida intersect. There have been rumors about redevelopment of that firehouse for years. Many of my clients have asked me about it as well, and about a year ago when I called the city about it they told me that it was being sold by the city to a developer.

Well, good news about the old firehouse. I read in last weeks Washington Business Journal that the old firehouse is being redeveloped as a 3 level restaurant. Here is an artist rendition of what the firehouse will look like when it is complete:

The firehouse is officially known as "Engine Co. 12 at 1626 North Capitol Street NW" and I drove past there earlier today and I am happy to report that dumpsters have been delivered and it appears they have begun demo of the inside.

The firehouse is in a great neighborhood known as Bloomingdale. I have been showing some amazing houses in Bloomingdale that feature the kind of architectural detail that the Hill offers, but for half the price! The Washington Post recently ran a nice piece about Bloomingdale titled "The Word is Out About Bloomingdale" which just about says it all! Click HERE to read the piece.

Of course, if you are interested in Bloomingdale, or any other part of the DC area, please don't hesitate to let me know and I am happy to show you some of the great deals that are on the market right now!

Michael
(Michael@RealAstute.com)

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 this 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!)

A Showhouse is Created in Georgetown

In this week's Home and Garden Section of the Washington Post there was a great article (What We Saw at the Show House ) about the Design House recently completed in Georgetown. The house, at 3014 P St. NW, will be open Saturday through May 11. Hours are Tuesday to Friday, 10 a.m. to 3 p.m.; Saturday and Sunday, noon to 5 p.m. Tickets are $20; more information at http://www.dcdesignhouse.com. The house will also be one of 10 open for the annual Georgetown House Tour on April 26. Tickets for this one-day tour are $45; more information at http://www.georgetownhousetour.com.

If you go, let us know what you think!

Michael
(Michael@RealAstute.com)

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 this 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!)

Some Tips for Spring Cleaning

By Annie Groer
Washington Post Writer

Time To Clean

"Spring cleaning" seems such an archaic phrase, conjuring rug beating outdoors and hands-and-knees floor scrubbing indoors. How Victorian. How June Cleaver. How ugh. . . .

But every now and then, even our high-tech, 21st-century homes require more than routine (occasional?) bed making, dusting and dish washing.

Because "deep cleaning" can seem overwhelming -- think carpet shampooing, window washing, grout scrubbing -- we deconstructed the project into time-manageable chunks and scripted them around four real-life situations (with apologies for stereotyping mothers-in-law everywhere).

Then we sought experts to share their best ideas for each scenario (wash windows on a cloudy day, clean blinds with an old sock over your hand) and their favorite products (lots of credit goes to green, clean, white vinegar and baking soda).

So let's crank up the music and get to work. Cheryl Mendelson, author of the encyclopedic "Home Comforts: The Art and Science of Keeping House," assures us it will make us feel better because "order produces more order."

Interested? Read the entire Washington Post article...Time To Clean

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 this 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!)

HVAC that is "Art Cool"

This week I was at a home inspection in Chevy Chase DC. We had Jerry Kerwin from Home Air Services, Inc consult with our client on ways to improve the heating and air in the 3 level home.

To my amazement, LG Electronics is now making a large framed picture that quietly opens up and blows air.

You heard me right...a framed picture on the wall that serves as your HVAC! LG calls it "Art Cool" and I think I agree! Click here to check it out yourself

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 this 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!)

Get Rid of it Event!

Our friends at Settlement Pros are hosting a GET RID OF IT EVENT!

This is a SHRED*, TRASH**, RECYCLE*** event for things you need to get rid of... Bring them your old papers, old computers, computer monitors and junk for the dump.

Please come on April 12 from 9-12 at the Settlement Pros office at 4719 Chestnut Street, Bethesda, Maryland.

*paper OK with staples, paperclips or binder clips; no cardboard
**no paint or hazardous materials
***limited to computer hardware and computer monitors

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 this 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!)

Home Sweet Investment

March 18, 2008
Op-Ed Contributor
By ALEX TABARROK
Fairfax, VA

FEAR is ruling the financial markets. Billions of dollars have been lost in mortgage-related investments. The Federal Reserve worked madly over the weekend to engineer a takeover of Bear Stearns and avert a systemic meltdown. But the big fear remains. How low will house prices go?

If prices continue to fall, mortgage defaults will move well beyond the subprime sector. Trillions of dollars in losses for investors are not impossible. But that doesn’t mean they are inevitable.

In 1997, inflation-adjusted house prices were close to their average levels over the previous half-century. Only four years later, the price of the average home nationwide exceeded anything ever seen before in the United States. Prices continued to rise for another five years, peaking in 2006 at nearly twice the average price in 1997 (as can be seen on the graph on the bottom right, which is based on data collected by the Yale economist Robert Shiller). If house prices are heading back to the levels seen in 1997, then we are facing catastrophe.

But there are good reasons to believe that much of the increase in prices was a rational response to changes in fundamental factors like interest rates and supply. The deeper fundamentals continue to suggest strong housing prices for the future.

Sure, speculation did run rampant toward the end of the housing boom. (The debut of the reality television show “Flip That House” on Discovery Home Channel, followed shortly by “Flip This House” on A&E, was a clear sign that the boom’s end was near.) Prices will fall further, especially in the speculative developments built on the outskirts of the major cities. So yes, we overshot the fundamentals.

Still, especially in coastal areas where zoning regulations have restricted the supply of land that developers can build on, house prices were driven up by increasing population, low interest rates and strong economic growth.

More and more people want to live on the coasts, but land is hard to come by in places like Manhattan and San Francisco. Cities and regions built on ideas — like Boston, Los Angeles, New York and the San Francisco Bay Area — have grown even as areas built on manufacturing, like Detroit and the Rust Belt, have declined. And of course, government isn’t getting any smaller, so Washington and its suburbs, another hot spot of rising house prices during the boom, will continue to grow.

Even in places where land seems plentiful, zoning and other land-use regulations have made it scarce. To meet demand, we should encourage high-density development, but homeowners fought to restrict housing supply when house prices were increasing. Now that house prices are falling, the incentives of owners to restrict supply are even stronger.

Several studies estimate that the average house prices of 2004 were close to fundamental levels, so we may see prices stabilize near that level.

Granted, a catastrophe is not impossible — it did happen in Japan. House prices shot up in Japan in the late 1980s, and by 1999 they had collapsed. The graph on the top right, of Japanese and American house prices, does make for a worrying comparison. (The data come from the Standard & Poor’s/Case-Shiller national home price index and a similar index for Japan.)

But the resemblance isn’t as close as the graph makes it appear. The Japanese run-up in home prices was faster and reached higher levels than the one in the United States. In addition, the Japanese population at the time wasn’t growing, and today it’s shrinking. (None of the major presidential candidates favor drastic reductions in immigration, so population growth in the United States will continue.) As a result of these and other problems, the Japanese economy was moribund from 1992 to 2002, which kept housing prices low.

There are two very real problems for the housing market: tougher credit conditions and slower growth. Here the United States faces a self-fulfilling prophecy problem.

If the financial markets can predict where and when house prices will stabilize, then credit conditions can quickly return to normal, the economy can expand and house prices will indeed stabilize.

But if the financial markets remain uncertain about when the decline in house prices will end, then fear will tighten credit even further, which would strangle the housing market and generate even more fear.

We have nothing to fear but fear itself, but fear itself can be pretty scary. The best way to overcome fear is to look at the long run. The typical homebuyer keeps a home for 10 years or more, so there is time for those who bought in 2005 and 2006 to weather the current decline in prices. Those who bought at the top are unlikely to see any windfalls from house appreciation, but they will not necessarily suffer from buyers’ remorse. Owning a home has its advantages: the deduction on mortgage interest is substantial and too much of a sacred cow to ever be repealed, and there is a certain security and satisfaction to owning your own home.

The collapse of housing prices certainly feels painful, and for some homeowners, it will be. But the houses are still there, as good as ever. Most of the gains going up were paper gains, and most of the losses going down are paper losses.

The strength of an economy comes, fundamentally, from what it can produce. Can America still produce homes? Yes. Can America still produce desirable urban and suburban areas that people are willing to pay a fortune to live in? Yes.

That’s the real bottom line. The United States has some of the most valuable real estate in the world. Markets should not forget that.

Alex Tabarrok is a professor of economics at George Mason University and the research director for the Independent Institute.

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 this 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!)

Housing Fantasy Is The New Reality Television

Housing has long been viewed as an emotional investment. Along with the housing boom of the past 5 years, there has a been a boom in reality television shows. Remember This Old House with Bob Vila?

Housing has morphed into a national obsession. No surprise there.

Take a look at this week’s television schedule for HGTV. If we aren’t watching people decorate, we are watching them, sell, buy and flip houses.

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 this 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!)

From our friend Tim Romp at First Heritage Mortgage

It was just announced that the FHA limit for the Greater Washington DC region has been increased to $729,750. This is excellent news for all of us.

Remember, FHA utilizes the same appraisal as a conventional loan and allows for as little as 3% downpayment and up to 6% seller concessions. The required 3% from the borrower can be a gift, though it cannot come from the seller.

FHA is the new subprime for low scoring borrowers as well as for those with little down. Borrowers with scores in the high 500’s are getting approved.

On the heels of the FHA good news announcement from earlier today, there’s more: The Fannie and Freddie Conforming loan limits have also been raised to $729,750. Check this out...

They’ve actually created a new category – “jumbo-conforming” – which is essentially a hybrid of the two previous designations.

We are just getting the information and do not yet have pricing, although I expect that to happen tomorrow, or Monday at the latest. This pertains to loans originated this month through the end of the year.

Clearly, this is some desperately needed good news for the real estate industry. Although details are sketchy, I wanted to keep you abreast of these new developments and will keep you informed as more news becomes available.

As always, I’m here to help you succeed and to answer your questions.

Tim Romp
Senior Loan Consultant
First Heritage Mortgage, LLC
an affiliate of George Mason Mortgage
202-409-1166 direct
240-223-1703 fax
tim@timromp.com
http://www.timromphomeloans.com/

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 this 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!)

HGTV's "Sleep On It"

"Sleep On It" is a national half-our television show which airs on HGTV (Home & Garden Television).

It's a great opportunity for all parties involved (the seller, the home buyer and the realtor) but the best part is that the home buyers have a chance to spend the night in 1 of the 2 homes they are interested in purchasing. It's a great opportunity and a lot of fun!

The perk for home buyers is that you get a chance to spend the night in a home of your choice that you are interested in purchasing, testing out the neighborhood, the house itself and whether or not it suits your needs.

There is a small compensation for each party involved as they greatly appreciate everyone's time and efforts. It's a fun, high energy, reality show that offers a unique perspective on the real estate market nation-wide.

Overall, it takes 3 full days of shooting for home buyers. They do a 1/2 hour interview with the realtor & homeowners/sellers. The realtor also assists them with setting up/finding the homes for the home buyer. Ideally, the single family home prices should be in the range of $375,000-$550,000. The homes should also be vacant and staged or lightly furnished. If the homeowners currently live in the house, they'll provide a hotel stay for them during our shoot.

Edelman Productions has been producing award-winning programming for HGTV, The History Channel and The Food Network for over 10 years. A few of their shows include: Curb Appeal, Color Splash, Design to Sell, Design Remix, Decorating Cents, Double Take, House Detective, Landscape Smart, Ultimate Kitchens and Find Your Style to name a few.

They will begin shooting their second season of "Sleep On It" April 1st. Please feel free to forward this opportunity on to other realtors or homebuyers who may be interested. Also, if you have any clients that would be a great fit on the show and would be interested in this experience, please have them get in touch with me and I can forward the appropriate information.

Here is some recent press on the show.

"Sleep On It" airs Wednesday evenings @ 10:30pm on HGTV.

Enjoy!

kevin Shirley & Michael Dillon
Long & Foster Realty
kevin@RealAstute.com
202-547-9200

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 this 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!)

East Rental Rates for Investors

The most common question I get when working with investors is, "How much rent can I get for this place?" That is a touch question since rents often fly below the radar. Sometimes they are in the MLS, but often they are not. There is no tax database of rents like there is for sales. People put signs in the window of their rental house, rent it and never need to share the rental rate with anyone.

I can search the MLS for rents, but I usually also look on Craigslist.org and the Washington Post to see current rental comps in a given area.

I recently discovered a new website that really helps in the battle to figure out rental rates, it is http://www.zilpy.com/ and it is currently in BETA, or testing, mode.

I found the site really useful and fun. Plug in your own address and see if you agree with the rental rate they suggest. They locate comps in the immediate area and tag them on an easy to use Google map. I would not suggest using this as your sole method for determining rental rates, but I do thing it is another useful tool in that process.

Speaking of investment property, be sure to contact me if you have been thinking about picking some up, there are great deals out there right now! I am easy to reach at Michael@RealAstute.com or 202-369-9821.

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 this 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!)

Barack Obama Right Outside Our Doors!

Presidential candidate Barack Obama visited the Eastern Market Metro on Tuesday morning while campaigning, he even bought some doughnuts at our Dunkin Doughnuts!

Here he is in the Metro plaza, note the office in the back left...

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 this 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!)

Northern Virginia Condos We Just Can’t Sell

Twice in the last two weeks our team has signed listing paperwork to sell condos for clients in Arlington and Alexandria and both times it turned out that our client cannot sell their condos at this time because of the downward pressure on the condo market in Northern Virginia.

In the first case, our client purchased their condo from the developer nearly 2 years ago and the developer is still selling units in the developments. The developer is now selling similar units for nearly 60K LESS than what our client paid. Needless to say, once we confirmed the developer’s prices and shared them with our client he decided it was simply not the right time to sell his condo. We couldn’t agree more, there is no way we could compete with a developer who is slashing prices that dramatically. Since our client is being relocated he has decided to use Long and Foster Property Management to manage the rental of his unit until the market turns around.

In the second case, our client purchased their condo nearly three years ago, in this case however they are competing against short sales and investors. Of the three comparable condos that were for sale in the same development, 2 of them were “short sale” properties that are listed below market value. Selling at these prices wouldn’t make sense for our clients who bought their unit basically for what the short sale units are now being sold.

Remember, a short sale is when a lender allows a property to be sold for less than the amount owed on the mortgage and the lender takes a loss. Lenders usually allow borrowers to use this technique if the borrower is having a hard time making payments and needs to unload the property before it goes into foreclosure. Short sale properties are almost always being sold for less than market value, which drives the prices for other sellers in the same development down as well. There is a lot of talk in the news right now about how short sales and foreclosures hurt the value of everyone else’s property, and this is a classic example of how that happens. For now these clients have also decided to wait to sell and see what the market does in the coming months, and we agree that this is not the time for them to try and sell.

While we love to have listings and sell our client’s property, but we never want to see our clients lose money. Unlike many real estate agents, we are the first people to tell you NOT to sell your home if the market conditions are not right. Being honest with our clients is how we build trust and long-term relationships that will survive the ups and the downs of the real estate market.

As always, if you are thinking of buying or selling please do not hesitate to contact me at 202-369-9821 or Michael@RealAstute.com.

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 this 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!)

Strange and Funny Things Do Happen in Real Estate!

There is so much negative news about real estate these days, sometimes it helps to hear some random funny stories about our business! Here is the case of the missing key:

On Tuesday night I was showing some clients an investment property in Ledroit Park for a second time. (Click Here to learn more about beautiful Ledroit Park). The property has 2 units. The upstairs unit has 3 bedrooms. The first time we saw the upstairs unit over the weekend we noticed that there was one bedroom that was locked and none of the keys in the lockbox would work. Before my client would move forward they wanted to see inside that room – seems logical to me!

I called the listing agent and asked her how I could get my client into the randomly locked room. She tells me that someone is “sorta” living in that room, but he isn’t a tenant just a friend of the seller. How someone “sorta” lives in a room is not clear! She also tells me that there is a key to that room “wrapped in a tissue and stuffed under the carpet on the fifth step” in the building.

My clients, a contractor and I, all in our nice work clothes, started crawling up and down the stairs trying to peel up the nasty carpet and find this little tissue with the key for the third bedroom. When it became clear we weren’t going to find it I called the listing agent back who was a little embarrassed. She quickly went into action and called the man who is “sorta” living in the room to find out where the key was located. She got the man on the phone line with me who told me to go to the kitchen and open the dishwasher, then open the plastic flap for the detergent – eureka, there is the little tissue with the key. It was definitely a strange moment that got several chuckles from everyone there!

As always, if you are thinking of buying or selling please do not hesitate to contact me at Michael@RealAstute.com or 202-369-9821.

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 this 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!)
Posted by Kevin Shirley & Michael Dillon

Losing Their Grip on Homeownership

Declining Values Put Many Who Took Out Home-Equity Loans in a Bind That May Worsen


By J.W. Elphinstone
Associated Press


Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy.

Piece by piece, some gave away part of their homes by tapping equity to take cash out to pay for cars, weddings and vacations. Others never owned one brick. During the country's most recent housing boom, the term "homeowner" threatened to become a misnomer as lenders offered 100 percent or more financing to some buyers.

Now, slipping home prices could further erode the value of many Americans' single largest asset, curbing consumer spending and jeopardizing retirement assets.

To read more of this article, click here.

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 this 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!)