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!)
Thursday, February 28, 2008
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
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
Thursday, February 21, 2008
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!)
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.
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.
Thursday, February 14, 2008
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!)
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...
Here he is in the Metro plaza, note the office in the back left...
Thursday, February 07, 2008
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!)
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.
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.
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