DC House SmartsHome
We've been complaining about a lack of inventory for a while now, but recently, the market has been behaving in a rather frenzied way, all benefiting the seller. In the close-in Bethesda/Chevy Chase/DC market, the well priced and well-appointed homes are receiving multiple offers within days of hitting the market. Used to be that one could wait for the weekend open house. No more. So, as a buyer, what can you do to outwit the competition and get your offer accepted? Work with a buyer's agent. When it comes to identifying an agent, a lot of buyers like to sit on...Continue Reading!
Now, what's so special about this picture? It's Closing Day! See the little key in her hand? And the big smile? It's a perfect, if hot, day here in Washington DC, and a favorite buyer is about to conquer her favorite new place, at her favorite Dupont Circle location. What a wonderful moment. And this is exactly why we're doing this. Sometimes -- in the more stressful moments -- it helps to remember this. Thanks, Rosie, thanks, Billy, thanks, John, thanks Tom, and thanks to everybody else who helped this transaction to sail on as smoothly as it possibly could. You've all been delightful! And since...Continue Reading!
Housing Affordability Reaches Record High According to the National Association of Realtors via the Daily Real Estate News/Tuesday, May 15, 2012, home affordability is at an all time high: "Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of REALTORS®. NAR’s composite quarterly Housing Affordability Index rose to a record high of 205.9 in first quarter, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly index broke the 200 mark;...Continue Reading!
When I first started out in real estate, I remember tagging along with a seasoned agent on our Tuesday Tour. During the course of our ride, I heard about one of her clients who had found the perfect house... absolutely perfect... but for the neighbors next door. Turned out the neighboring house was home to their daughter's ex-boyfriend (so they discovered after they fell in love with it). The daughter nixed the purchase. So continued the search. As a buyer, you have to walk the walk. Or, in layman's terms, get out and about in your possible new neighborhood and get...Continue Reading!
Some might find it a little odd that we are promoting reasons to fire your agent... on our website. But, good advice is often hard to come by (and we're full of it)! Not all real estate relationships are a good match. Sometimes there are compelling reasons for parting ways with your agent. Here are our top 10: The Yes Man (or Woman). Some agents "buy" listings, meaning they will take a listing at any price just to win it. They figure they can always lower the price down the road when it doesn't sell. It's a silly business plan. We don't...Continue Reading!