Planning a Pool Party this Summer? Check out these Tips First!

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Who doesn’t love a good summer pool party? Family and friends cooling off from the summer heat by the pool is good fun for all! If you are planning a pool party this summer, be sure to check out these tips:


1. Food:

A 7-Course meal is great for small gatherings, but isn’t reasonable for a poolside event. Stick with easy foods like hamburgers, hot dogs, ribs or other finger foods. 

 

2. Safety:

If there will be children or pets at your gathering, make sure everyone understands the pool rules for safety. And remember, children should always be supervised by an adult around water. 

 

3. Clean Up:

Stick with disposable plates, cups and silverware for your shindig. Place garbage cans or bags in easily accessible areas so your guests can take care of their own dishes. You will be glad you did once everyone leaves and you don’t have to take care of loads of dishes.

 

Enjoy the rest of the summer

Top 3 Reasons Buyers and Sellers Should Ignore Some Online Info

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As a consumer, especially a real estate buyer or seller, you’re empowered with massive amounts of information online.  You have access to thousands of articles, MRIS data, and Q&A from “experts” all around the country.  All that information makes you feel empowered and informed.  Guess what?  You’re not.

Much of the information you read online falls into three categories; platitudes, regional articles, and falsehoods.  The problem is that as a consumer you don’t know how all that compares to the information that is, in fact, real and useful.  How do you tell one “expert” from another?  Good question but here are a few reasons to ignore a good part of what you read online.

#1 PLATITUDES – GENERIC ADVICE WHICH DOESN’T GO INTO ENOUGH DETAIL TO BE USEFUL

You see these all the time on the major consumer websites.  They look good with great fonts and well organized to look like useful information.  Unfortunately they leave out a lot of detail because they’re written for home buyers in all 50 states.  The result is an article which gives you enough information to be dangerous.  Instead of platitudes, talk to a local agent you can trust.  They’re far more likely to give you accurate insight into local rules, regulations, laws, customs, and the market than some generic article.

#2 REGIONAL ARTICLES – INFORMATION ABOUT A LARGE REGION THAT GIVE FALSE IMPRESSIONS OF THE LOCAL MARKETS

This is REALLY dangerous because it seems like such a credible source.  For example, you might read an article in the Washington Post are real estate sales in Washington, DC.  They say the market is up, slightly, and tough to find a home in. That’s true, but totally misses how intense the Ashburn, VA market is or Clarksburg, MD market is – which is far more competitive than Washington, DC.  As a consumer, you think you’ve got the inside scoop on the market – without talking to a REALTOR® – when in fact you’ve been duped by a generality.  Talk to an agent who works in that market and you’ll get the REAL story.

#3 FALSEHOODS – Articles written by people who know less than you do

Reporters are hired to write on all sorts of things in this industry from lending practices to buyer strategy.  Now, in all fairness, they do their research to find out what is correct and accurate.  However, they also tend to write for a wide audience.  So, you’ll read an article online from a writer in Texas that talks to real estate issues and dynamics that do not apply in…say…California.  They’ll quote laws and rules that are completely false…for where you are.  It’s not intentionally misleading, but it is. 

BOTTOM LINE:  If you need good, relevant advice, talk to us. If you’re not in DC, MD or VA, we’ll find you the best REALTOR® serving your area, who knows the laws and market dynamics for the specific areas you’re living or looking in.

http://www.DCMetroHomes.com                                                (202) DC METRO

Difference Between Expert Advice and Perfect Advice

Remember:

  • · An expert doesn’t mean you’re going to give perfect advice.
  • · An expert means you’re going to give excellent advice.

Here’s the difference:

If you go to a doctor with a serious illness, she can’t tell you how it’s all going to wind up in the end. She can’t know for sure. Therefore, she can’t offer perfect advice.

However, your doctor can only give you excellent advice. She can tell you about your illness and your options, whether it be surgery or medications. She can also explain what she believes to be the best option for you based on your history, symptoms, and overall health. Ultimately, though, you’re going to make the final decision of whether you go through with the treatment plan.

Once you make that decision, your doctor will take you by the hand and walk you down the road to recovery. She will explain to you that there might be adjustments that need to be made to the treatment plan, because no one can know for certain how things will turn out.

She might have to adjust your medications or increase or decrease your treatment schedule. But every step of the way, she’s there with you, helping you get to your ultimate goal. This is called excellent advice. (By the way, does this sound like what we do with our clients?)

Similarly, if you went to an attorney, he can’t tell you how the case is going to end up or how the judge or jury will rule. That would be perfect advice. What an expert attorney can do is explain your options. He might pick one or two he believes to be the best ones to pursue. He will then leave you to make the decision on which option you want to take. Once you decide, he will help put a plan together based on the facts at hand. He will help you get to the best possible resolution of the case. And along the way, he’ll make whatever changes are needed. This is excellent advice. (Again, does it sound similar to how we help our clients?)

Our role as a real estate professionals is similar to the role of the doctor and lawyer. We can’t give buyers or sellers perfect advice because we don’t know what’s going to happen— we can’t know the future. However, we can give excellent advice based on the information and situation at hand. We can guide you through the process and help you make the necessary changes along the way. And that’s exactly what you want…and deserve!

3 Reasons to Sell Your House Today! (Part III)

Part III – New Construction Will Soon Be Your Competition

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Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. As an example, the National Association of Realtors revealed, relative to last year, year-to-date new home sales are up 19%.

These ‘shiny’ new homes will again become competition as they can be an attractive alternative to many of today’s home purchasers.

Here are the numbers regarding new construction about to come to market from theCensus Bureau:

BUILDING PERMITS

  • Single-family authorizations in February were at a rate of 600,000.
  • This is 25.5% above February 2012.

HOUSING UNDER CONSTRUCTION

  • Single-family housing starts in February were at a rate of 618,000.
  • This is 18.5% above February 2012.

HOUSING COMPLETIONS

  • Single-family housing completions in February were at a rate of 574,000.
  • This is 32.9% above February 2012.

As we mentioned, new construction can be strong competition to a seller of an existing home. It may make sense to list your home before this new inventory makes its way to market.

3 Reasons to Sell Your House Today! (Part II)

Part II – Housing Supply is Low

Homes for Sale

A seller’s ability to sell their home in today’s real estate market will be determined by both the supply of homes for sale and the demand for that housing. In real estate, supply is represented by the current month’s supply of homes for sale (the number of homes for sale divided by the number of homes sold in the previous month).

While there is no steadfast rule that will apply to pricing in every category of housing, here is a great guideline:

  • 1-4 months’ supply creates a sellers’ market where there are not enough homes to satisfy buyer demand. Appreciation is guaranteed.
  • 5-6 months’ supply creates a balanced market. Historically home values appreciate at a rate a little greater than inflation.
  • 7-8 months’ supply creates a buyers’ market where the number of homes for sale exceeds the demand. Depreciation follows.

What is happening across the country right now?

In most parts of the country, supply is dropping like a rock. According to the National Association of Realtors, total housing inventory is below a five months’ supply. This is almost 20% below inventory numbers of just a year ago and at levels we haven’t seen since 2005.

Based on the table above, we can see that the supply/demand ratio is showing a sellers’ market where prices appreciate. This has created positive movement in housing values in most parts of the country.

Sellers have a great opportunity right now. Historically, inventory increases dramatically as we approach summer. Selling now while demand is high and supply is low may garner you your best price.

FSBOing: This Time It Was Embarrassing

With the housing market beginning to heat up, we are afraid some sellers may consider trying to sell their house as a For Sale By Owner (FSBO). This week we will  post the reasons that we believe trying to sell on your own may be a mistake. Here is an article we have run before which sellers should consider. – KCM Crew

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This blog prides itself on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism. However, today will be different.

We can’t resist commenting on the story which appeared in the Wall Street Journal a while back regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do.

After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sambrotto has been espousing for over a decade. Let’s look at two of those myths:

Myth #1 – You Will Pocket More Money Selling on Your Own

Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?

From the WSJ article:

“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.

By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”

Myth #2 – The Internet Alone Can Sell Your Home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?

From the WSJ article:

“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”

Bottom Line

There is a reason the real estate industry has been around for centuries: it performs a valuable service.

3 Reasons to Sell Your House Today! (Part I)

Part I – Demand for Real Estate is Much Stronger This Year

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When selling anything, owners can only hope there is a strong demand for that which they are selling. The great news for today’s home sellers is that the current housing market is experiencing a stronger demand than we have seen in some time.

The  spring housing market of 2013 is projected to be one of the best in years.

Home Sales

The National Association of Realtors(NAR) reports monthly on both pending sales (houses going into contract) andexisting home sales (actual closed sales).

In the first quarter of 2013, pending sales have consistently outperformed the numbers reported in 2012. Contract activity has been above year-ago levels for the past 22 months. Before this year, the last time the index showed a higher reading was in April 2010, shortly before the deadline for the home buyer tax credit.

NAR also revealed that closed home sales have been above year-ago levels for 20 consecutive months and sales are at the highest level since the tax credit period of 2009-2010.

Impact on Sellers

This increase in demand has created bidding wars for properly priced homes across the country. This has resulted in two favorable changes for home sellers:

  1. They are receiving offers closer to (if not greater than) the list price.
  2. The average days it takes to sell a home has dropped by over 20% from last year.

If you are thinking about selling your home, don’t miss out on the strong demand that exists in the current spring market.