Category Archives: Real Estate

Great time to buy at the Delaware beaches

Rehoboth Beach, gay news, Washington Blade, real estate

Home sales and prices are rising in Rehoboth and surrounding beach towns. (Photo by AgnosticPreachersKid; courtesy Wikimedia Commons)

By JOHN BLACK

Summer is finally upon us and the Coastal Delaware real estate market is back in full bloom. The first quarter of 2013 saw both significant sales volume and price increases in the majority of our beach towns. Overall, 1Q 2013 single-family home sales in Sussex County were up 7 percent over 1Q 2012, while prices increased 11 percent over 1Q 2012. In particular, inventory in Rehoboth and Dewey Beach has notably decreased while the average sales price in these two towns is up 39 percent year over year. Following suit, Bethany Beach’s average sales price has increased 28 percent over 1Q 2012 and Lewes has noted a 20 percent sales volume increase along with a 3 percent price increase over 1Q 2012. As the inventory supply continues to decrease, we expect to see further price appreciation throughout the region.

This is a great time to buy that beach house while interest rates remain at all-time lows. Not to mention our incredible tax advantages:

• NO state sales tax.

• NO state tax on Social Security or Railroad Retirement income benefits.

• NO personal property taxes.

• One of the lowest property tax burdens in the nation. Sussex County’s Fiscal Year 2013 budget keeps in place homeowners being taxed on 50 percent of property’s current market value based on a 1974 assessment, making this the 23rd consecutive year without an increase. The average Sussex County property tax bill for a single-family home in 2013 will drop to just below $100 annually.  (Sussex County Government News Release, May 22, 2012)

New construction is booming again along the Delaware shores and re-sales are now priced very attractively. If you are an investor, there are properties available, which may be of interest to you as well. Allow me to work for you and locate that perfect beach getaway or perhaps retirement home. As I am now approaching my 11th year selling real estate in Sussex County Delaware, I have seen the market at its best and at its worst. I can honestly say it is now a more “normal and realistic” real estate market.

If you own a home in Southern Delaware, you may not believe it, but the market is back and the inventory is low — we need properties to sell to our buyers. You should consider putting your property on the market sooner rather than later. I work feverishly with more than 70 exceptional Realtors at Ocean Atlantic Sotheby’s Int. Realty, assisted by a full-time marketing staff of professionals to help showcase your home locally, nationally and globally. If you have been contemplating placing your home on the market, please contact me today for a comprehensive market analysis of your property and a personalized marketing plan.

As I look out my window at the sunshine, I am reminded of the sign that hangs in many of our local store windows: “If you are lucky enough to live at the beach, you are lucky enough.” I feel lucky every day to be able to help my clients find exceptional properties here in our coastal towns. If you are visiting Rehoboth Beach and need information about our town, please do not hesitate to give me a call. I may not always know the answer, but I can certainly get the answer for you.

When it comes to real estate, I am very happy to answer all of your real estate questions.

Here’s wishing you a safe and enjoyable summer 2013, in Rehoboth Beach and the surrounding resort towns.

John Black is a Realtor with Ocean Atlantic Sotheby’s International Realty, 330 Rehoboth Ave., Rehoboth Beach, DE 19971. Reach him at 302-249-6922 or 302-227-6767 ext. 230.

Spring in Berkeley Springs

bowls, pottery, Crawford Horne, Thistle Glen Pottery, gay news, Washington Blade

Morgan County’s resident artists are regionally and nationally recognized for their work. Pictured are bowls by Crawford Horne of Thistle Glen Pottery. (Photo by the artist)

By ANNE LARSEN

All over Morgan County, W.Va., dogwoods are blossoming, a perfect backdrop for the Berkeley Springs Studio Tour. Each day from 10 a.m.-5 p.m. on Memorial Day Weekend, artists and craftsmen open their studios to the public. In addition to offering their wares for sale, participants will answer questions and demonstrate various techniques they use. The free, self-guided tour can be divided into sections that fit into a day or spread across the entire weekend.

The tour’s website, berkeleyspringstudotour.org, includes maps and driving directions suitable for smart phones and tablets. In addition, visitors can print a PDF of the tour brochure, which contains all this information, or they can pick up one at The Lion’s Lair (81B North Washington St., in Berkeley Springs) and at hotels, B&Bs, and restaurants around town. The web site includes links to lodging, dining, shops, galleries, and outdoor activities in Morgan County so you can easily plan your Memorial Day getaway. Berkeley Springs is only 90 minutes from the Washington, D.C., and Baltimore metropolitan areas.

Morgan County’s resident artists are regionally and nationally recognized for their work. The roster of participants in this springs Studio Tour include makers working in diverse metals, textiles, ceramics, glass, painting, and printmaking.

Hsu Studios produces jewelry, mobiles, and wall-mounted sculptural pieces with richly colored anodized aluminum. Their designs range from fun to formal, often structured so that pieces move in response to their wearer. Anne Larsen of Deerlight Studio makes jewelry, boxes, and flatware featuring one-of-a-kind stones, found objects, and enamelwork. Abigail Porter produces a signature line of looped earrings; she has also developed a clasp for scarves that does not pierce the fabric, but holds it gently in an ingenious embrace, making her work perfect for pairing with fine textiles. Blacksmith Glenn Horr at Highland Forge builds wonderful accessories for the home, including light fixtures, cooking utensils, door hardware and fireplace tools.

Kim Potter of Handwoven Designs creates exquisite scarves using loom techniques enhanced by surface applications of additional yarns, many of which he makes himself. He displays his clothing alongside the intricate quilts of Fiesta Fibers, whose dynamic designs feature fabrics altered by vat dye discharge, a method that artist Jane Frenke uses to develop subtle layers of pattern and color which she integrates into the larger geometry of her quilts.

Crawford Horne of Thistle Glen Pottery has built a large wood-fired kiln and explores the alchemy of smoke and glazes on his dishes and serving ware. David Flohr brings more than 30 years of experience to his potter’s wheel, where he throws bowls and vases to carry his distinctive glazes.

Between them, brothers Edward and Henry Palczewski have mastered an astonishing range of glass working skills. They make stained and fused glass windows, serving ware, and mirrors using unusual irridized and dichroic glass to bring depth to their designs. They have finished work for sale and also accept commissions.

Heath Studios showcases the oil and watercolor paintings of Jonathon Heath and the printmaking of his wife, Jan. Jonathon’s works are known for their whimsical view of daily life; Jan uses linocut, woodcut, monoprint, and collage techniques in her work, which features local wildlife, woodlands, and water. Painter Wayne Peterson’s impressionist paintings have graced the tour for many years, but he is retiring after this spring. This is a wonderful opportunity to meet a gifted man and passionate colorist. Finally, Richard Kaufman of Magic Mountain Studio combines his skills in the ancient Asian art of sumi-e painting with his love for the landscape and creatures of America. His work is both contemplative and vibrant, a unique combination of Eastern and Western aesthetics.

Berkeley Springs Studio tour is a free self-guided tour of artists in Berkeley Springs, W.Va. For more information, visit berkeleyspringsstudiotour.org.

What do the numbers mean?

numbers, gay news, Washington Blade

(Image by Storyvillegirl via Creative Commons)

By TED SMITH 

If you’re paying attention to the real estate news, you’ve probably heard multiple reports about the numbers in April 2013 that indicate an improving real estate market: new listings are up 17.4 percent over April 2012, although active listings are still at a five-year low. Sales are up 13.7 percent, the median sold price is up 4.7 percent over last year to $470,000—the highest in five years, and the average sold price is up 4.6 percent to $551,214. Average days on the market (DOM) are down 37.3 percent to 42 days on the market and the average ratio of sold price to original list price (OLP) is at a five-year April high of 99.5 percent

But what do these measurements indicate and what do their values mean?

  • Active Listings indicate the number of available properties at any given moment.  This number has an inverse relationship to median sold prices and average sold home prices. Putting this relationship into a familiar concept–the law of supply and demand–you can state the relationship like this: When the supply of homes is high and demand is low, median prices and average prices are relatively low. These are the conditions of a buyer’s market.

    When the supply of homes is low and demand is high, median prices and average prices are relatively high. These are the conditions of a seller’s market. Right now, we are in a seller’s market in DC.

  • Median Sold Price indicates the middle value in the range of homes sold during a particular period.  The median is not the same as the average; it can be lower or higher than the average, depending on the number and size of the sales transactions being analyzed. The median tells us more about the number of transactions; the average tells us more about the size (value) of the transactions.
  • Average Sold Home Price indicates the total value of all sales transactions divided by the number of transactions.  As mentioned above, this can be higher or lower than the median. Rising sold home prices over an extended period indicate a seller’s market; falling sold home prices over an extended period indicate a buyer’s market.
  • Days on the Market indicate market conditions: When the supply of homes is limited (as in a seller’s market), homes tend to sell faster, so they are on the market for fewer days. When the supply of homes exceeds demand for them (as in a buyer’s market), days on the market will tend to increase.
  • Ratio of Sold Price to OLP (Original List Price) is also a good indicator of market demand. In a seller’s market, this ratio will tend to be high—in the 90’s—and may even exceed 100percent in a market where the competition for homes is especially fierce. In a buyer’s market, this ratio may dip below 90percent (or more) as sellers are forced to bargain more with buyers.

Having described what each of these categories indicates and how their values rise or fall depending on a particular market, let’s put them all together to see what their expected values would be in a seller’s market:

In a seller’s market:

  • Active Listings should be decreasing
  • Median Sold Price should be increasing
  • Days on the Market should be decreasing
  • Ratio of Sold Price to OLP (Original List Price) should be increasing
  • Average Sold Home Price should be increasing

In a buyer’s market:

  • Active Listings should be increasing
  • Median Sold Price should be decreasing
  • Days on the Market should be decreasing
  • Ratio of Sold Price to OLP (Original List Price) should be decreasing
  • Average Sold Home Price should be increasing

With a good understanding of what these categories indicate and the significance of each category (and how it might be tied to values in another category), you are ready to better understand the real estate news.

Ted Smith is a licensed Realtor with STAGES Premier Realtors specializing in mid-city D.C. Reach him at TedSmithSellsDC@stagesrealtors.com and follow him on Facebook.com/MidCityDCLife , Youtube.com/TedSmithSellsDC or @TedSmithSellsDC. You can also join him on weekly tours of open houses specifically geared toward first-time homebuyers. Sign up at meetup.com/DCMidCity1stTimeHomeBuyers/.

Design ideas for a garage remodel

real estate, garage, house, remodel, gay news, Washington Blade

Transform your garage and be the envy of the neighborhood. (Photo by AgnosticPreachersKid via Wikimedia Commons)

By JOSH BAKER

If you have a passion for cooking, you might consider creating a gourmet kitchen with all the equipment desired by world-class chefs. But what if you’re a car enthusiast? Then today’s high-tech and well-designed showstopper garages might be just your speed. Here are some great ideas our design-build remodeling team has included in garage transformation projects for car aficionados.

Whether it’s a makeover of existing space for the family car or a new detached showroom for a vintage car collection, higher end garages have been on the rise in recent years.  More and more, car enthusiasts are looking to create garages that are fully conditioned and decked out with storage systems, entertainment areas, plumbing, machinery and high-quality finishes.

Mechanical systems: Whether you’re looking to work on your own cars, create a private workshop or add additional capacity, you may consider installing a hydraulic lift. On the upper end of options are in-ground lifts, which are flush-mounted with the floor and rise from underneath with the push of a button. Also available are a range of above-ground post lifts that allow convenient accessibility for car servicing or, with enough ceiling height, can double or even triple garage capacity. If you’re a mechanic at heart, you may add a professional-grade air compressor for convenient power for the tools of the trade. Another luxury option is a garage (or driveway) turntable that is installed flush to the surface and helps to maneuver vehicles into tricky spaces.

Flooring:  If your garage serves dual purposes – showroom and workshop – you may consider mixed flooring. For the display area, many choose to invest in quality ceramic tile for a high-end, finished look. However, dropped objects can cause damage to these tiles so they are not ideal for the work area. For this portion, many recommend cement floors with a dark colored epoxy treatment, for a solution that is less expensive and virtually impenetrable. Another all-over flooring option, which is cost effective, durable and attractive, is rubber tile or sheet goods specifically made for the auto industry.

Lighting and windows: As sunlight will fade vehicle paint and fabrics, special care should be taken when deciding where or if to include windows. Well-planned, high-quality artificial lighting is critical to both functionality and color accuracy. Cool fluorescent lighting with high output is ideal, especially when it carries a high Color Rendition Index (CRI), which helps to ensure that colors appear true.

Climate Control: A complete heating, air conditioning and dehumidifying system is important to create an environment that is comfortable for both you and your car. Another important consideration is controlling humidity, which can help to prevent rust and mold. Garage owners can choose either a basic standalone unit or a sophisticated system with digital controls that automatically maintains the desired humidity level.

Plumbing: With many garages now featuring bathrooms, indoor car washes, ice makers and utility sinks, water is another must-have in the ultimate garage. Keep in mind that a garage drain will likely require separators to filter out the oil and grease.

Entertainment: As if the lure of the cars is not enough, many are choosing to turn their new garages into lounge-like gathering spaces to be shared by all. Common additions are wet bars, seating areas, pool tables, high-end sound systems and entertainment centers.

Security: Just like with the rest of your home, you want to make sure your garage and vehicles are properly protected with a quality security system.

The bottom line is with professional design expertise and execution, garages are no longer greasy spaces overstuffed with junk. With a bit of planning, today’s garages are high-tech, comfortable and more functional retreats for car enthusiasts and non-enthusiasts alike.

Josh Baker is the founder and co-chair of BOWA, an award-winning design and construction company specializing in luxury renovations, remodels and additions in the greater Washington, D.C. area. BOWA has more than 25 years of experience and has been honored with 110 local and national awards. Reach BOWA at 703-734-9050 or bowa.com.

A lifestyle change in Old Town

Old Town Alexandria, real estate, gay news, Washington Blade

Old Town Alexandria (Photo by Doug Kerr via Creative Commons)

During the past 12 months, we have witnessed a resurgence of the “downsizing” trend among both the baby boomer generation and couples looking for a simpler way of life.  Many friends and clients have come to us to discuss trading their larger suburban home for a smaller, more manageable place to rest their heads.

We have found that those who do not have children at home are truly looking for a change of lifestyle, but some aren’t ready to make the snowbird exodus to South Carolina or Florida just yet. The great thing is that in the Washington, D.C. area, there are many great options to find a new home and reinvigorate your lifestyle.

Coupled with this trend is an increase of baby boomers and couples moving into Old Town Alexandria to take the pied-a-terre idea to a more permanent level. Old Town Alexandria is the quintessential spot to make a fresh start to a new stage of life. The urban environment provides convenience without all of the congestion of a large city.  With unique shopping, dining and entertainment options you can choose to experience the nightlife or stay cozy in your home while overlooking the Potomac River, Alexandria or a historic cobblestone street.

A new addition to the Old Town Alexandria area is the construction of The Oronoco, an unparalleled waterfront residence providing spectacular views, luxurious amenities and designer style throughout.

At The Oronoco you will find one-level living in two, three or four bedrooms, with options including a library and family room.

The possibilities for creating your home here are endless. The Oronoco is a magnificent property that takes your breath away.  If you feel that this is a lifestyle you want to consider, please contact us at The Goodhart Group and we would happy to show you what the next chapter of your life could bring.

Sue Goodhart is the top-producing agent at McEnearney Associates in Alexandria and is licensed in D.C., Maryland and Virginia. Reach her at 202-507-7800 or sue@ suegoodhart.com.

The style tour

Decatur House, real estate, Lafayette Square, gay news, Washington Blade

Decatur House (Photo by AgnosticPreachersKid via Wikimedia Commons)

By JAMES DEAN

Spring is in the air and it’s the House & Garden Tour season. From Capitol Hill to Brookland, Georgetown to designer showcases, houses and gardens are being primped and proudly displayed — it’s all about style.

But what style is it? Colonial Revival, Queen Anne or Italianate? Architecture expresses specific styles and periods of time.

First, let’s dispel a myth. There is no such thing as a “Victorian” house. Why you ask? They’re all over Washington. The term “Victorian” represents a period of time coinciding roughly with the reign of Queen Victoria but is not a defined style. Within that period, tastes changed and numerous architectural styles developed. So let’s take a look at some of the most common building styles in Washington. And don’t forget to impress your house tour mates with your architectural knowledge.

In 1792, George Washington signed the “party wall proclamation” allowing common walls to straddle property lines thus shaping Washington neighborhoods as row house communities. As you tour these neighborhoods you see that the “Washington Row” townhouse with projecting bay is our dominant building stock. Many have no distinctive design and some are transitional with elements of several styles. Others are full blown examples of a specific architectural movement.

The earliest buildings in the District reflect Georgian roots. These feature symmetrical fenestration, a hipped roof and often a central entry. The White House is a classic example of this. Federal design, with a refined semblance to Georgian, closely followed as the Republic grew. A prime example, Decatur House, faces Lafayette Square. It’s also expressed, though, in simpler wood frame houses with their gable roofs and modest cornices.

As the 19th century progressed, many styles developed quickly. Gothic Revival, a reaction to the preceding classical examples, can be seen with Christ Church on Capitol Hill. Attributed to Benjamin Latrobe, its stylistic definition comes primarily from the prominent bell tower, added in 1849, rather than the original construction. Carpenter Gothic, Egyptian and Moorish Revival also came into vogue. Short lived and not widely constructed, they weren’t dominant after the Civil War.

Washington’s major building boom was post Civil War roughly from 1865 through the early 1900s. As the century progressed there was an explosion of competing styles. This is truly the Victorian era when the architecture we see daily was popular. A battle of styles, as we see with haircuts and skirt lengths, had begun.

Italian villas in rural settings were translated to townhouse facades. Deep bracket cornices, segmental arched window hoods and elaborate door surrounds of pressed metal fully express the Italianate townhouse style. Both flat front and projecting bay examples were widely built. The Industrial Age provided the technology to mass produce ornamentation and the style was incredibly popular until the 1880s. Landmark examples include some Embassy Row mansions and the Georgetown Post Office.

The next dominant style was Queen Anne, having no relationship with Anne’s reign. With rambling open floor plans and lack of symmetry, it was a true break from its classical predecessors. Multiple materials were employed — wood siding, fish scale shingles, rusticated stone foundations and upper window sashes bordered with stained glass. Fine examples are found in parts of Cleveland Park and Takoma Park. Townhouse examples appear around popular Logan Circle, stylistically modified with water and belt courses, oriel bays and robust molded brick detail.

Simultaneously, architect Henry Hobson Richardson popularized a style now known as Richardsonian Romanesque. Featuring massive rough stone construction, deep-set windows and recessed entries, rows of these townhouses line the 1600 block of P Street, N.W., in Dupont Circle. A more delicate version based on Gothic styles appeared earlier. The Smithsonian Castle, designed by James Renwick in 1847 is a prime example.

Finally we see the Beaux Arts. American architects studying in Paris in the 1870s brought this style home. It is mostly represented in large public buildings. Grand staircases, stone construction, carved stone swags, medallions and figures abound. Among the most notable incorporating every element of the style is the Jefferson Building of the Library of Congress. Stop in, be awed by the rich interiors and while there visit another Victorian treasure on display — Charles Dana Gibson’s beautiful Gibson Girl.

Spring Home & Garden

‘I’m mad at the dirt!’

kitchen, home and garden, gay news, Washington Blade

With the right techniques, you can make cleaning a cakewalk. (Photo courtesy of Statepoint)

(StatePoint) — Throw open those doors and windows — there’s no better cure for months of winter than some fresh spring air.

But with spring, comes spring cleaning. And if the thought of pulling out mops, buckets and brooms brings on more stress than serenity, remember that a few tricks and some great tunes can make cleaning easier and perhaps even fun.

Set the mood

There are work playlists, workout playlists — why not a cleaning playlist? Put together some of your favorite, preferably upbeat tunes to motivate you while you’re working and keep that music playing when you’re moving from room to room.

Give your nose some sensory motivation too. Spray a fresh clean scent to remind you of what’s to come when the work is done.

Simplify

The soups, stews and heavy cooking of winter earn kitchen appliances everywhere a little tender loving care. While the task of cleaning accumulated splatters and stuck-on food residue from of heavy winter cooking can sound overwhelming, there are cleansers that can make the sprucing process a lot less labor-intensive.

You can clear the cutter of your cabinet by opting for a cleanser that works on a variety of surfaces and appliances. For example, affresh Kitchen & appliance cleaner and Stainless steel cleaner can be used on refrigerators, microwaves and countertops, and won’t be too abrasive on finishes. And unlike ammonia or bleach-based cleaners, you can simply spray and wipe down without rinsing.

Renew the refrigerator

It’s easier to clean the fridge with less in it, so prior to starting, throw out what’s old, pull out what stays and roll up your sleeves.

Clean door gaskets, racks and drawers with warm water and mild dish detergent. Don’t forget to clean underneath the refrigerator and the vent of the appliance. Proper air flow provides better performance and optimum efficiency.

Once it’s all sparkly clean, admire your handiwork. Then put your food back inside before it spoils.

Maintain

The dishwasher cleans dishes. What cleans the dishwasher? Don’t stress! Cleaning the dishwasher may be one of the easiest tasks on your checklist. Just run a normal wash cycle and add an easy-to-use tablet, such as affresh Dishwasher cleaner, to the bottom of the tub to help clean and remove residue.

Likewise, you can clean your washing machine by running a normal cycle with hot water and a washer cleaner tablet. A formulated tablet designed to penetrate, dissolve and help remove odor-causing residue from the inside of the machine will give your washer and your clothes a fresh scent.

Don’t forget to check washer and dryer drains and pipes for blockages — such as lint or the infamous missing sock — to improve optimum water and air flow. Clean the dryer’s outside exhaust to help shorten drying time and decrease energy use.

For more helpful cleaning tips, visit affresh.com. You’ll be out enjoying the spring weather in no time.

Decorating on a dollar

yard sale, gay news, Washington Blade

(Photo by /\ \/\/ /\ via Creative Commons)

Spring has sprung.  The grass has riz.  I wonder where the yard sales iz.

I share my introductory paragraph, of course, with that great and prolific writer, Anonymous, whom I have to thank for the topic of my treatise today.

Despite what they say on HGTV, I don’t know anyone who can Design on a Dime anymore.  Much like our property sales prices, the cost of decorating our homes has gone up. No matter how much we can Cash and Cari, even the low end of The High Low Project can be beyond the budget of many of us.

So what do we do when the weather gets warm and we want a new trinket or objet d’art for our home? We go and sift through other people’s stuff, of course.

We are taught that one woman’s junk is another man’s treasure, so we wake up early on a Saturday morning, smell the very strong coffee and head out with a stack of small bills in search of a bargain, be it antique or just unique.

A quick glance at the garage sales section of Craigslist offers us a variety of items for the home this week. Some examples include:

  • a stainless steel fondue pot with six two-tined forks for your next “Mad Men” party;
  • a bejeweled peacock lawn ornament;
  • a wooden dining chair for $25 (or take all four for just $80);
  • an assortment of Ikea Malm dressers in various finishes;
  • and a pair of plaster gargoyles to welcome guests as they ascend your front porch (the guests, not the gargoyles).

Many local community organizations and neighborhood associations are planning their annual multi-family yard sales. Some benefit volunteer fire departments and others serve as fundraisers for churches, schools and veterans groups. You can even find a “Yake Sale” (a combination yard and bake sale) in Fairfax this weekend, so arrive hungry for some kuchen to go with that morning kaffee.

Stay close to town at flea markets in Georgetown and Capitol Hill or, for a change of pace, travel a short distance to check out the Fleagaville Indoor Flea Market in Frederick, Md. Serious shoppers can make a road trip out of it from Aug. 1-4 by attending The World’s Longest Yard Sale, which spans 690 miles of Highway 127 from Addison, Michigan to Gadsden, Alabama.

Estate sales promise bargains galore. They often begin on a Thursday or a Friday, so if you can take time off from work, you can beat the weekend crowd. Some estate sale firms will only allow a small number of people into the home at one time so you must obtain an entry ticket at the door, much like taking a number at the deli counter.  There is usually a wide variety of household items available and sometimes the firms running the sale will even accept credit cards.

I’m more of an estate sale enthusiast than a flea market floozy. My guest bedroom, for example, contains a 1960s bookshelf headboard, a matching triple dresser with original chrome hardware and a silver Sputnik lamp that were about to be placed curbside. The cost: hauling fees, a gallon of semi-gloss paint and two days of my time.

My den features unwanted items from various clients: a waterfall chest of drawers with brass and Bakelite handles, a scalloped drop-leaf table and a twin sofabed with a matching child-sized sleeper ottoman, all for an investment in a bottle of Old English furniture polish and a $400 check to my upholsterer.

In my recreation room, a black and white loveseat and matching easy chair, purchased from a seller for $300, are the perfect complement to two high-gloss black étagères with glass shelves, which came with my house because they wouldn’t fit up the basement stairs.

The 6th Annual Great Brookland Yard Sale (GBYS) is coming up on May 11. I have participated in this community event for two of the past three years and it’s time to do it again.  After all, I need to make room in my garage for new treasures.

You will likely find me on my front lawn that morning, trying to entice someone to buy my leftover building materials and staging items. Stop by and say hello, but remember: sometimes one woman’s junk is just junk.

Valerie M. Blake can be reached at 202-246-8602 or at Valerie@DCHomeQuest.com. Prudential PenFed Realty is an independently owned and operated broker member of BRER Affiliates, Inc.  Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.  Used under license with no other affiliation with Prudential.  Equal Housing Opportunity.

Smart selling in spring housing market

nice house, real estate, gay news, Washington Blade

The Washington DC Real Estate Market heats up in Spring! (Stock photo from iStock)

By SAMMY DWECK

Sellers may rejoice. Although the weather is just heating up, the market’s temperature is well ahead of the curve this year. Fabulous interest rates are keeping buyers excited, and the low inventory means it is time for sellers to capitalize on demand.

Washington, D.C. real estate has outperformed the nation through the recession and recovery and continues to grow. This is certainly still a government town but the last several years have brought more in technology and the arts. Entrepreneurs and creative types are flocking to D.C.

This is a sellers’ market, and our buyer clients have been highly cognizant of this as we go into the busiest time of year in the housing market.

Sellers who take a hard line stance against losing a dime on their current homes could do better to focus on capitalizing on the exciting opportunities in this marketplace. Sellers need to understand that as mortgage rates climb back to “normal” levels, their purchasing power is eroded on their next home.

Similarly, the purchasing power of their buyers is as well — unless salaries keep pace with mortgage rates, buyers have the same monthly budget at 3.5 percent and at 7 percent, but more of those payments go to paying interest at the higher rates and less to equity. In other words, it is OK to sell your home at a price that’s close to that which you paid, even if you do not come out with every dollar you invested. That is because you have an opportunity to buy at prices similar to the ones at which you bought last time, but with a much lower rate — and move into the place you want to live in.

Furthermore, your house may be worth more than you think. The days of bidding wars and escalation clauses are back. The key to selling your home for the most it’s worth right now is the proper price and the right kind of marketing. You need to work with an agent who knows what price will inspire buyers to bite and how to make your home look its best.

As much as people like to think otherwise, buying and selling a home is emotional. Polish your home before you put it on the market. Like dating, you want to put your best foot forward. Presentation is everything. If you present well, you may achieve a competitive bidding scenario in which buyers waive certain contingencies and shorten time frames to provide you with more of a “sure thing.” You can demand better-qualified buyers if you have people falling over themselves to buy your home. Picture a dating show with many bachelorettes wooing only one bachelor, but with buyers competing on one property and trying win over a seller.

It is easy to understand why buyers get stuck on certain numbers and prices, but homeowners are usually better off than if they were renting in one of the D.C.-area’s very expensive rentals. If, after seven years of ownership, your loss is a few percent in transaction costs, but you’ve saved in not having to pay non-tax deductible rent, you’ve won this round.

It is also easy to understand why sellers get stuck on certain numbers, but value is a moment in time. We tell our clients to live where they want to live and to move when they want to move. Your primary home as not just an investment, but rather an investment in you. Smart sellers are leaving what happened in 2005 where it belongs – in 2005 – and are looking forward to the next phase of their lives in their new homes. It’s time to seize this fabulous opportunity in our sellers’ market and get moving.

Sammy Dweck of The Amber & Sammy Group with Evers & Co. Real Estate, Inc., is a licensed real estate agent specializing in townhouse, condo and co-op sales in the D.C. metro area. Reach him at Sammy@SammyDweck.com or 202-716-0400.