A Charlie Brown Christmas is a classic holiday movie. From the toe-tapping soundtrack to the iconic imagery, there are many memorable moments. My favorite quote this year:
Lucy Van Pelt: I know how you feel about all this Christmas business, getting depressed and all that. It happens to me every year. I never get what I really want. I always get a lot of stupid toys or a bicycle or clothes or something like that.
Charlie Brown: What is it you want?
Lucy Van Pelt: Real estate.
For those in the market for a new house now, that search may stretch into the new year. There was some talk, and concern even, among Realtors and those in the mortgage industry that there may be a reduction in the maximum loan limits for loans underwritten following standards of Fannie Mae and Freddie Mac. Great news! The loan limits for conventional financing are remaining fixed into 2014 in our area (and most of the country). In Maryland and DC, here are some relevant caps for high balance conforming loans.
Montgomery County = $625,500
Prince George's County = $625,500
Frederick County = $625,500
Anne Arundel County = $494,500
Talbot County = $417,000
Washington, DC = $625,500
And for my friends and family in Wisconsin, all counties in that state have the $417,000 limit. If you would like to know your loan limits if you live elsewhere in the US, I can let you know based on your state and county.
By the way, I have a terrific listing for a house for sale in College Park, MD, listed at $274,000, which is in Prince George's County, through my brokerage, McEnearney Associates, Inc; main office: 202-552-5600; or email or call me directly.
For each seller client, I create a customized House Sale Preparation Checklist. While of course some of the items on the list may be universally helpful to sellers, I take into consideration that particular client's situation, their means and time available, and the most likely buyer of their house in making suggestions to them about getting the property into optimal showing condition.
Recently I worked with some seller clients whose house was already in terrific condition and who are quite handy and comfortable with home improvement projects. I started with an initial one page list with these categories:
* POD - rent one and start filling it with...
* Sorting/Clearing Out
* Projects [minor household repairs]
* Early Staging
Once they finished that list (in 5 days!!), I went back to their home with my notepad in hand and made a second, final list (typed and emailed by that evening). This one was more detailed and led up to the time when the professional photographer I had hired was scheduled to arrive. This "Stage 2" checklist included items such as:
* Add to the POD (and get the POD picked up)
* Sorting/Clearing Out [the finer points]
* Yard Word/Exterior
* Projects
* Final Staging
* Pre-Photo Little Things
For another seller client, I created a room-by-room list rather than by categories, because that was an easier way for her to work through her house preparation tasks.
My best practice for sellers is helping organize and plan with you to make your house shine for its potential buyers.
For first time homebuyers in Washington, DC, there are some great options you should investigate if you are considering a purchase.
First is the DC Tax Abatement program. This program has two components and is based on household income to qualify. Qualification guidelines are available elsewhere and each buyer should consult their licensed real estate agent and a settlement agent or attorney about their specific situation.
The first component of this program is the elimination of the DC Recordation Tax (for properties under $400,000 purchase price, this is 1.1% of the sales price for each side of the transaction) and a possible seller credit of the other 1.1% of the DC Transfer Tax.
The second portion is potentially more impactive. Starting in the first tax year following purchase, with the DC property tax cycle running October 1 to September 30, the buyer is exempt from DC property taxes for 5 years, assuming you live in the property as your primary residence for that full period.
In addition to these tax programs, there are currently a number of mortgage programs aimed at DC first time buyers, too. For example, the DC Open Doors program is one option available through specific mortgage lenders. There are low down payment requirements and potential down payment assistance (in some cases through a low or no-interest loan) for qualified buyers.
I have one buyer client now (and potentially a second client) working with a mortgage lender on a Community Reinvestment Act (CRA) loan for first time homebuyers. This has a low interest rate, low down payment requirements, and no private mortgage insurance.
A skilled and experienced Realtor can guide you to programs that could help make your dream of home ownership a reality, within your means, and with the right loan, and home, for you.
As I type, the view out my window is different from this picture. Now the autumn shades are decidedly rust, orange, brown. Two weeks ago, the golden yellow was radiant. This photo does not begin to capture the beauty outside my window on that day.
For some, living in the woods may bring daily reminders of the seasons, the natural world including the birds and chipmunks which live there too, and a sense of calm. That was me today, starting my early morning with gratitude for trees.
Others may crave wide open vistas and the sun shining through year round, not to mention a lack of branches to pick up after a storm and spare time in the fall while others are raking.
Everyone seeks a different combination of factors in a home, and the outside of a home is part of that equation. Gardening, a place for children and/or pets to play, outdoor dining, bird watching, and broader views may be important to home buyers. What is on your wish list as you look outside today?
I am currently reading an interesting, though a little depressing, book called "At Home: A Short History of Private Life" by Bill Bryson. I am certain I will be blogging about this book more in the future because it is filled with interesting information about the history of homes and rooms in homes more specifically.
Early in the book I read something that gave me a unique perspective on a topic many home buyers face today: debt-to-income ratios. Basically, through typical underwriting requirements for home mortgages, most lenders dictate a maximum total debt-to-income ratio of 38% for their average borrower, and that their housing debt be no more than between 28% and 33% of their monthly gross (pre-tax) income.
According to Bryson, in nineteenth century England, "Up to 80 percent of all household expenditure... was spent on food, and up to 80 percent of that went toward bread."
Think about that for a minute. Almost two-thirds of all money was spent on bread! Today, my understanding is that the average American household (appreciating that there are likely wide variations) spends about 25% on food. Housing is a high expense for many people, but I was stunned by this glimpse into history.
My Quote of the Day comes from my favorite fictional Realtor colleague, Phil Dunphy from Modern Family.
Today I get to talk about the love of my life, [dramatic pause to glance at his wife, Claire]... residential real estate.
I adore how enthusiastic Phil is about real estate and appreciate his sometimes loony ideas for promotions and sales.
Three beautiful words in the Language of Real Estate.
Cleared To Close
Mortgage lending is a complex process in today's market and for many good reasons. The underwriting guidelines are strict and buyers often have to produce multiple documents and some in the final few days prior to settlement.
So when my buyers' lender sent the email today saying Cleared To Close, I did a little happy dance. My buyers will be able to close on their future home on Friday morning! Congratulations to them.
Today I am starting a new series called "5 Things". I will feature five things that I love about some real estate topic, in this case my wonderful new listing in College Park, Maryland. These 5 attributes of this particular home illustrate how small touches in a home can add to its overall appeal and how sellers can help prospective buyers feel "at home" as they tour through a house, even during their first visit. Also, these details are difficult to cover in a one page property brochure or the 400 characters we are given in the listing remarks section of our multiple listing service, so I wanted to share even more about this house in other creative ways.
1. On the left, I call this the Perfect Pantry. By adding simple white contact paper as part of their house sale preparation checklist, this pantry shines as tidy, useful, pleasant and convenient storage in the kitchen. For homes of this size and price point, this pantry is a gem.
2. On the right, just off the kitchen along the stairs to the basement, is even more storage. I adore built-ins and so do today's buyers! The previous owners added shelves to the old back door when they built an addition, and this extends handy space, too. Bonus: no perilous reaching; there's a landing right in front of these shelves.
3. Staying in the kitchen for another favorite thing, this 5 burner, stainless steel, gas range is as gorgeous in person as it is in this picture. Although the LeCreuset French oven does not convey with the house, of course all the appliances do. Upgraded kitchen appliances make such a huge difference to buyers today (call it an HGTV influence) and this beauty is joined in the kitchen by a French door refrigerator, a stainless steel dishwasher and the over-the-stove built in microwave (peeking in at the very top of my photo).
4. The crown molding
and trimmed doorways in the dining room nicely frame the passages to
kitchen and living room. They also give a polished, upgraded, lovely feel to the home.
5. An enclosed porch
off the back of the house really does extend the living space since this
one has outdoor carpeting, three full walls of glass windows with
screens, lighting and a ceiling fan. This is a very pleasant spot to sit
and relax and even dine, as there is room for a cafe table and chairs.
To summarize the 5 Things I Love About My New Listing:
1. Pantry
2. Built In Shelves
3. 5 Burner Range
4. Crown Molding
5. Enclosed Porch
Although I have not posted in a while, I think about blog topics constantly and have quite a few stored for the near future. So stay tuned and be sure to follow or subscribe to my blog so you don't miss any useful and fun topics.
I spotted today's Quote of the Day stenciled on a window of a restaurant along Wisconsin Avenue NW in DC.
If opportunity doesn't knock, build a door.
--Milton Berle
What a great concept for real estate, in many ways. For example, if my buyers are having a difficult time getting a new home due to multiple offers with escalations and no contingencies by other bidders, we might need to be more creative with our search strategy: look for properties on the market for longer periods due to overpricing or property condition; actively communicate with other agents in my brokerage for upcoming listings so we can be first in when it hits the market; or even broaden our search to other areas where inventory might be higher.
Another way to ponder this quote is for people who might decide to stay in their current home and improve it rather than making a move. While it might seem contradictory for a Realtor to talk about a situation that does not result in a home sale, I believe in providing organized, creative, intelligent real estate solutions for clients whether they are buying, selling or staying. Give me a call to discuss how I can help you find your best solution.
For an open house, to the general public or to other Realtors, your house does not necessarily need to look like a photo shoot for the spring Pottery Barn catalog (although that would be terrific if that were the case). And I'm not talking about a bowl of lemons on the kitchen counter or baking cookies in the oven. No, those are advanced topics.
Rather, based on just four broker open houses I attended earlier this week, these are some basic steps I recommend for both agents and homeowners trying to sell houses. I am not suggesting you try to transform your house into something it is not; it should simply be the best it can be at that time.
10. Throw away the empty pizza box from the stovetop.
9. Grab two or three large black garbage bags and walk through the house for 15-20 minutes, throwing away obvious trash and junk.
8. If it is going to rain, don't leave the windows open.
7. That said, if possible, air it out ahead of time; food and pet odors can be overwhelming.
6. Sweep.
5. It's handy if your azaleas are in peak bloom; as an alternative, some pansies might be nice.
4. Vacuum up the dead flies from the floors and window sills.
3. At least put your laundry in the hamper.
2. No one wants to see your dirty dishes.
1. Get the house ready like someone is coming to visit, because they are.
Prospective buyers and their buyer's agents will thank you.
As a dedicated reader to the print versions of the Washington Post "Local Living" section on Thursdays and the "Real Estate" section on Saturdays (and yes I do still pour through the Real Estate open house ads on Sundays, in print, even though as a Realtor I have access to our local Multiple Listing Service directly), a couple weeks ago I enjoyed an article about the modern kitchen of 2013. It got me thinking about my own kitchen, aka the reason we bought our house. (OK, we actually bought our house for lots of reasons like its Tudor style, the wonderful location in the woods and close to my daughters' schools, the gorgeous original wood floors, the massive fireplaces that I adore, the laundry shoot, etc.; the kitchen was the reason we insisted on coming to the open house.) I thought the Post article was a little light on function and tilted toward style and while I love the look of my kitchen, I appreciate its layout and features even more.
Most days begin, after my first sips of coffee, with making my girls' lunches. Tucked at one end of the 7-1/2 ft center island is a shallow cabinet we call the lunch station. Note the lunch boxes, water bottles, small reusable storage containers and lunch utensils. Mealtimes are made easier by the pair of refrigerator drawers installed near the kitchen table. In these we keep beverages like milk and OJ, pop and beer, as well as bagels, bread, yogurts and sour cream.
The 36 inch, 6 burner Wolf dual-fuel stove is great for cooking, although the oven does take a while to preheat and there is only one oven space, so we did have to supplement with my beloved countertop Breville toaster convection oven (not shown). I should mention some style elements that are not as in vogue today yet I do like them personally - the dark soapstone counters (I am partial to the matte finish) and the slate backsplash. According to the Post article, rich cherry cabinets are still popular. My favorite part of our cabinetry is the convenient and ample storage it gives us. This particular set is next to the table again so we can store all our daily dishes for quick table setting and dishwasher unloading. The lower ones feature pull-out shelves too.
A buzz word in real estate today is Open Concept. Well that is two words. The previous owners who renovated the kitchen and dining room into its current configuration did eliminate one wall to create the single room and open the space to the living room. They also enhanced the pass-through to the back addition (done by the previous previous owners). We use this space as a dining room plus sun room including music space, so we enjoy hearing our fourth grader play the clarinet and love it every single time we pass food and then dirty dishes through this window.
So those are the highlights of my dream kitchen, which also happens to be our actual kitchen. Kitchens are a central and important feature of any home so buying a home with a renovated kitchen or one with hopes of renovating yourself (like some current buyer clients of mine) is something I discuss with buyers almost every day. What works well in your dream kitchen? And how can I help you find or build it?
I have been on a quest for living room sconces for over a year and a half. I share my story to "Keep It Real" about improvements to your home. Not all projects are a weekend success or an instant fix. I struggle with decisions just like you. And taking the time to make the right choice for your home and your family can be so rewarding that it is worth the time and effort. Well, mostly. Effort yes; time... not so much.
It all began when we bought our Bethesda home almost two years ago. We loved everything about it, except the wood thing over our massive living room fireplace. I am sure it was treasured over the years by previous owners and I respected its unique nature. It just was not for my family. So yes, we removed it. To be more accurate, at the end of September 2011, I paid my friend Pieter to take it all down including the mantel. Much to our surprise, behind that wooden facade was an archeological find of fireplace embellishments over the decades. We found a slip of paper dated 1951 back there, plus dubious wiring faintly visible on the photo on the right. And yes, those little metal electrical covers that promised of lighting to come.
Jump ahead to late January 2012 to discover minor progress on the lighting front. We hired an electrician to confirm and modernize the connection between the wires behind those plates and a switch on the wall by the front door. As a temporary solution, they crudely though safely attached two mismatched light bulbs to the wires, to validate electrical success. Running in parallel to our sconce quest was the restoration of the plaster. We'll call this phase the retro industrial look. Visitors politely tried to ignore it. But by mid-spring 2012, our plaster guy had applied 13 layers over 6 or 7 visits to reach the point where we were ready for sconce selection and painting.
I created a Pinterest board for living room sconce ideas. Friends weighed in. I vacillated between much bling, subtle oil rubbed bronze, antiqued but new fixtures, custom-made from New York City, and many in between. I narrowed in on a vintage look, to keep with the style of our 1938 Tudor. A random postcard from Artisan Lamp Company in Cleveland Park, Washington, DC, led me to dropping by their shop one evening in February 2013; yes that much time had passed. I found some I liked. I mentioned them to my loving spouse. He wondered why I had not bought them. Next time I could get there was April 4, 2013. I found an American vintage pair from the 1920s or 1930s with crystal and brass. And it only took me 8 days to get an electrician here to install them on a dimmer switch. Tah dah! I present to you the final product. Now we just need a mantel.
Quote of the Day: Something for home buyers to keep in mind when seeing houses.
You can't depend on your eyes when your imagination is out of focus.
-Mark Twain
A couple observations:
1. I guess I like Mark Twain quotes; I have posted at least one other.
2. Many times, buyers tour through potential new homes and fixate on one (or more) negative aspect of the house, like the ugly tiles in the owner's suite bath or the unpleasant harvest gold color of the laundry room walls, rather than taking the broader view of the space, layout, unique features, and the home's value in total. Of course the space and usage of a home are crucial to a buyer, as is location (for commute distance and options, access to services and amenities like recreation). But the surfaces like carpeting and wall color can all be easily and relatively inexpensively changed.
You cannot move a property, but you can certainly paint your laundry room.
Last evening I was talking with my good friend Pete, who is passionate about the theater. Specifically he is focusing his current efforts on promoting theater-going as a hobby. As we discussed it further, I realized that I could expand my "On the Ground" features to include not only nearby theaters, but also art spaces and other cultural opportunities such as museums and landmarks. Further, I believe the concept of a neighborhood, a community, encompasses other aspects like access to transit and other transportation options like Bike Share (mentioned here), shopping for daily necessities (groceries and medicines) and more fun things like home decor, dining and night life, and recreation.
So watch for more comprehensive "On the Ground" posts in the coming weeks and months. I have three already in the works and I envision more to follow.
Spring has sprung here in Washington, DC. Of course you'd never know it by the temperature today, though we should not complain about waking to temps in the 30s; family and friends in Wisconsin are being treated to snow today, tomorrow and Monday!
I mean the spring real estate market of course. Contract activity has picked up; multiple offers are part of the story in some neighborhoods and price ranges. Supply is lagging behind though! Inventory in Montgomery County, Maryland, is so low that over 60% of properties going under contract in February 2013 were on the market for less than 30 days. The total number of active listings decreased 37.1% compared to February 2012, with only a 1.5 month supply of homes in the county overall.
In our area, homeowners often want their beautiful dogwood trees and daffodils to be blooming before they try to sell their house, so it looks its best. This year, perhaps more than the last few years at least, getting a jump on the spring market may prove to be a successful strategy. Note that price and preparation, plus expert marketing, advertising and promotion to your targeted buyers are still critical. I can help with all of those factors if you are considering selling soon. I am ready for your call, even if the branches on your trees are still bare.
I have a new favorite street in Washington, DC: Twelfth Place Northwest. Quiet with one-way traffic, yet walkable to the hub of hip that is the U Street Corridor. An adorable assortment of cozy rowhouses built around the 1890s, it reminds me of Rainbow Row in Charleston, South Carolina, on a smaller scale. Charm and convenience, loaded with personality. Walking down this street reminds me of one of Lucy's old storybooks, The Big Orange Splot by Daniel Manus Pinkwater. "Our street is us and we are it. Our street is where we like to be, and it looks like all our dreams." Where is your dream street?
Today's Quote of the Day reflects my business philosophy:
Do more than is required. What is the distance between someone who achieves their goals consistently and those who spend their lives and careers merely following? The extra mile.
--Gary Ryan Blair
I'll go that extra mile for you, whether you are buying, selling, or staying, and for any referrals you send my way.
It's not official, but times are shifting here in the DC Metro area. Pockets of Montgomery County, Maryland, and some neighborhoods in Washington, DC, are seeing signs of a sellers market. Now, other agents in my office, our McEnearney managing brokers, and I do not necessarily see the situation running amok, but inventory is incredibly low and has been for an extended period. We discuss buyer client needs frequently in weekly business meetings, trying to find upcoming listings from other agents in my office. In some neighborhoods, there are many buyers for each house or category of housing.
Might more sellers emerge, ready to make a move themselves? If you are considering a move or just plain need to, for whatever reason, give me a call. I can give you some data and input on your specific situation, house, and neighborhood. Even if I don't specialize in your area, I can refer you to someone who does. There are many ways I can help.
There are very good reasons why termite inspections are strongly encouraged as part of a real estate transaction in many parts of the country, and why including regular termite treatments and inspections is sound preventive maintenance. Termites destroy wood, and thus, homes. A friend from Bethesda recently shared this photo with me and said I could share it with my blog readers. Her story goes like this.
On weekends and in nice weather, her family was typically away from their primary residence. Despite living in their home for over 30 years, they never once observed any telltale swarms of emerging termites. Last year, they were horrified to learn that the entire back of their home, all three levels (basement plus two stories above ground) was destroyed by termites. Fortunately the insects had not yet reached the attic and the trusses of their roof.
The board on the left is a typical 2x4 board. On the right is what the wood looked like after termites had feasted on it. She said it was like paperboard, crumbling in her hands. Contractors had to spend months removing the drywall, insulation, studs, electrical and plumbing from the back of their home and replace everything including the tiles in their kitchen. They were able to salvage their kitchen cabinets and some other appliances. The cost was over $70,000.
So don't waive your right to a termite inspection prior to purchasing a new home and don't overlook regular treatments and monitoring for termites in your existing home.
Gardening ... in the winter, you might ask? It is cold here in Maryland right now, although we don't have snow on the ground like Wisconsin and other places north. I was just sitting here at my desk in my home office, tidying up a bit, organizing brochures from homes I've seen into my new expandable file folders (the binders requiring three hole punches were a deterrent to filing), planning for more showings and previews, planning another Real Estate and Refreshments event at the end of January, and dreaming of warmer days weeding in my yard. Dreaming of weeding?? Strange but true.
My family members and I, with varying degrees of enthusiasm and time allocation, spent many hours weeding and pruning last winter. Here in the DC Metro area, we had a very mild winter last year so it was pleasant enough to be outside working in the garden.
We have a different type of yard, not one with sweeping expanses of finely trimmed, lush, green lawn and beds of sun-loving perennials. No, we live in the forest, in a wonderful neighborhood of Bethesda called Woodhaven. True to its name, it is a haven, with lots of trees. We also live on a hill so there are terraces nicely landscaped by previous owners. It took some adjustments and now our girls enjoy the great hide-and-seek spots, the Harry Potter classrooms and Great Hall they've imagined, the tree bark forts for Lego people.
And I love the progress I've seen by removing extensive beds of invasive, non-native ivy, trimming back overgrown bushes, pulling down weeds that had climbed up all our massive tree trunks. I look forward to doing more this winter and early spring.
In my tidying indoors, I just found an article from the Local Living section of the Washington Post by gardening columnist Adrian Higgins from last July titled "Member of the wedding party." My favorite quote from the article is:
Look out for poison ivy, get your tetanus booster shot, and recognize that it may take three years to create the garden you want.
I have two more winters/springs to go. Can't wait.
Quote of the Day, taken from page 47 of my new copy of The Home Owner's Journal: What I Did and When I Did It, a Christmas gift from Mom to help us document updates, upgrades, and paint colors in our current home.
A home without a cat—and a well fed, well petted, and properly revered cat,—may be a home, perhaps, but how can it prove title?
-Mark Twain
Not sure why, but this amused me.
My family and I frequently travel to Wisconsin to visit family. I grew up in Oshkosh, Wisconsin, and have always enjoyed checking out open houses when I am visiting. Because it was Christmastime during this most recent visit, there were limited offerings on that Sunday, and it was about 19 degrees outside, and there was a Packers game on TV, so I had other priorities. Go Pack Go!
Browsing the listings in the local paper reminded me how real estate practices, in addition to local and state laws and regulations, differ across the country. In Maryland and DC and much of this region, the typical public open house is Sunday, 1-4 p.m. Occasionally an agent will hold a property open on a Saturday for a couple of hours, say 1-3 p.m. or 2-4, but I cannot recall seeing an open house for less than 2 hours.
In Oshkosh, open houses are typically one hour long. So one agent, let's call him Charlie, can hold House A on Westhaven Drive open 10:30 to 11:30 a.m., then scoot over to Listing B on Grove Street from noon to 1:00 p.m., and finish off the afternoon's work at House C on Mount Vernon Street from 1:30 to 2:30 p.m. That schedule makes me exhausted just typing it. Then again, that fictitious agent Charlie might shudder at the thought of staying in one house for three solid hours.
I enjoy thinking about these different practices and customs. I wonder what buyers think?
1. On the left, I call this the Perfect Pantry. By adding simple white contact paper as part of their house sale preparation checklist, this pantry shines as tidy, useful, pleasant and convenient storage in the kitchen. For homes of this size and price point, this pantry is a gem.
4. The crown molding
and trimmed doorways in the dining room nicely frame the passages to
kitchen and living room. They also give a polished, upgraded, lovely feel to the home. 
A couple observations:
