Whether you listed with me, allowed me to be your buyers representative, referred me to a friend or just needed a rental, your confidence was the best reward possible.

2012 is going to be a banner year and I look forward to saying thank you many more times!

Michael

Stroll Del Ray’s Mt. Vernon Avenue from 10:00 am to 6:00pm for a full day of activities.  In addition to the arts vendors, look for scarecrow making, pumpkin painting, puppet shows, dance performances and a wide range of music.

And did we mention the food court or the crab cake sandwiches?

Come on out and join us, it’s going to be a great day!

Michael

“The median existing home price in America is currently $168,000. But it might cost you roughly twice that to build one from scratch.

If you’re going to build a typical 2,500-square-foot home, at a cost of $100 per foot, it’ll cost you

$250,000. And that’s just building costs. By the time you add in the cost of the lot, permitting, labor, and more, you’re up near $300,000.

You might be able to drive down the cost per foot a bit. But at $80 per foot, you’re still looking at a $200,000 building cost, plus the lot and permitting. At the very best, you might get to $225,000.  This is 33% higher than the price of an existing home.If you’re in a position to do it, now is the time to buy a home or refinance your existing home.

Don’t catch yourself looking backwards.  A few years ago, houses were extremely expensive, and rates were much higher. Instead, look forward.

1)Today, housing is cheap.

2)Mortgage rates are now below 4%.

3)And the government has renewed its commitment to force home prices higher.

Why fight that? While I can’t promise you’ll make a fortune, I do believe all three of these things will take effect at some point.

Michael

It might be time to give that notion serious consideration as we draw towards the end of our traditional summer vacation months.   Several factors are currently in place which make owning a vacation home a viable opportunity and a worthwhile investment.

Vacation homes are more affordable than they’ve been in recent years, making a secondary residence a way to save money, generate income and build equity.

The housing market in general is favorable for qualified buyers at this point in time. Home prices are down an average of 27 percent from peak values five years ago. Even though second mortgages tend to have higher rates and shorter terms, interest rates as a whole remain near historic lows.

If you’re thinking of purchasing a vacation home, there’s another reason to consider it now: Unless Congress acts soon, conforming loan limits are being reduced on October 1, decreasing the availability and affordability of mortgage credit for many buyers.

If you want to understand what is happening in the real estate industry as it directly impacts your buying and selling decisions, look to the linked graphs below and then call me at 703.927.4554.

Alexandria

Arlington

Fairfax Country

Faquier County

Loudoun County

Prince William

Washington, DC

I will provide you with facts and the current market conditions that are relevant to you, in your local area. It’s my job to dissect those national headlines and give you the right kind of information you need to make the right decisions.

Let’s do this together,

Michael

Seems that Colby Sambrotto, founder and former CEO of ForSaleByOwner.com (FSBO) turned to a real live real estate agent after his property languished on the New York market for six months.

The new agent immediately lowered the price, attracted multiple offers and closed for $150,000 over the original asking price.

As AGBeat columnist Herman Chan noted, “If people want to take a stab at For Sale By Owner (FSOB), go for it.  But well over 80% of FSBO’s eventually list with a real estate agent to get their house sold.  It’s harder than it looks!

Consider this – I choose to be a Realtor®, I love my job and I do it every day.

Why take a chance (not to mention your time and energy) on what you can only do part-time.

If you are considering selling your house yourself or even if you already have an FSBO sign in your front yard, give me a call  at 703.927.4554 and let’s see what a difference a Realtor® can make for you.

Michael

If you are the property owner, talk to your real estate agent about how you want to handle the fee.  Will you pay it or will you include it in the listing along with security and pet deposits?

If you are going to include it in the upfront fees, double check the listing paper work – mistakes happen.

A client of mine moved into a condominium rental property just yesterday.  Today he called because the association was trying to collect a $150 move in fee.

A few phone calls later, it was determined that the fee was not included in the original paperwork, a mistake on the part of the listing agent, and she ended up paying the fee out of her commission.

If you are the renter, ask the agent to detail the upfront fees before making a final decision or signing a contract.  If the property has languished on the market for awhile, this may be a item for negotiation – and it never hurts to try.   One thing you should never have to pay however is the monthly condominium fee – that is the responsibility of the property owner.

The Northern Virginia/Washington, DC area has some of the highest rental rates in the country and you need to know exactly what you are paying for.

Give me a call at 703.927.4554 if you have any questions or need to rent.

Michael

Grape and Bean in Old Town

From what we understand, Grape and Bean would also operate as a small grocery, carrying on a long tradition in this location and offering  basics in addition to well selected cheeses, wine and bread.

Rosemont is a heavily residential neighborhood without the shops and restaurants of either Old Town or Del Ray.

We’ve heard a few folks question the feasibility of a wine bar and whether that would attract an ‘unsavory element’ and add to parking woes.

Rosemont Market

Other residents look forward to walking in their own neighborhood for a cup of coffee, a glass of wine and a bite to eat.

Sounds good to me – and it would definitely add to Rosemont’s walkability score.

Want to know more about houses in Rosemont?  Give me a call at 703.927.4554 and we’ll go exploring!

Michael

Update (August 13, 2001) – we met a friend in Old Town the other day for a good ‘catch up’ over a cup of coffee and choose the Grape and Bean on South Royal.  What a treat!  Small, friendly and quiet,  this establishment seems to have ‘good neighbor’ written all over it.

Melissa makes the point that home buyers today are not just looking for the “least expensive house in the best neighborhood” but they are looking at an entire lifestyle.

Urban loft, Cape Cod cottage, classic center hall colonial – yes, those things are important but so are these top life style priorities as reported by survey by Better Homes and Gardens Real Estate:

• Ease of commuting by car – 30%

• Access to health and safety services -  34%
• Family friendly neighborhood -  33%
• Availability of retail stores -  32%
• Access to cultural activities -  21%
• Public transportation access – 19%
• Nightlife and restaurant access – 18%
• Golf friendly area-access to golf courses – 6%

Now I can’t honestly say that Alexandria or Northern Virginia falls into the “ease of commuting by car” category but we do really well with all those other areas!

Let me tell you about some of the great neighborhoods where you’ll find some great lifestyle choices and a great house.

Michael

Like many town homes, the lower, basement level, is an ice box but the third floor bedrooms suffer in the summer heat.  Sound familiar?

1. You can feel up to 8 degrees cooler sitting under a ceiling fan
2. Fans cool people, not rooms, so don’t leave the fan on if you’re not present

Michael