RealEstateology.org

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2011-10-04T18:43:00.008-04:00

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Re:If you want to have cancer you should stop smoking now. Ill do everything to help you!

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Don't normally do this -- but had to share the news

2011-05-06T18:53:00.001-04:00

Hello friends and colleagues of Anthony Carr, I hate sending a bulk email out like this, but I needed to pass on this information to everyone in my address book quickly about mortgage interest rates. They are back down to 4.5% again for 30-year fixed rate and that's pretty darn good. if you're above 5%, now would be a great time to get refinanced or if you're looking to buy, it's time to

Remember 9-11

2009-09-10T17:14:00.000-04:00

Hello my friends and co-workers I just wanted to remind you that tomorrow is the 8th Anniversary of 9/11. It’s been a long and hard battle since then and the memories of that day linger on. Please join me in remembering the families of those who lost their lives on that tragic day and thank God for the mercy and protection He has shown us these last several years. God Bless America!

Taking Advantage of the Advantage

2009-07-30T19:08:00.001-04:00

Housing markets are turning around all across the country. The way this is measured is first through pending sales and then the following closed sales. By the time the national numbers turned, the recovery had already been happening for months.Albuquerque is one such city. Prices are still down from last year, but they are now leveling out at around $180,000 (for about 8 months now). The pendings

Local Outlook is All that Matters: Inventory Down, Prices Up

2009-07-22T21:59:00.003-04:00

As I’ve been saying for months – the Northern Virginia market is totally in a seller’s market. The only price range not fully recovered is the over $1 million price range. Every other price range from the $100,000 condo to the $700,000 single family is selling like the proverbial hot cake. Fresh off the griddle, and ready for the butter and syrup. And therein lies the problem – or should I say,

What Part of “Bottom of the Market” Do You NOT Understand?

2009-06-02T15:58:00.002-04:00

I was looking over the supply of houses on the market this week in Fairfax County, Virginia and it’s really getting dangerously low. Compared to May of 2008, we have 55% fewer homes on the market – and 20% more contracts written on them.That leaves home buyers with only a 7-week supply of houses and it’s getting smaller. Officially – we’re in a sellers’ market. For pocket markets (townships,

HELP! WE NEED LISTINGS!

2009-05-21T11:19:00.003-04:00

This post is going to be very local in nature - Northern Virginia readers -- we need houses to sell! The market has turned on a dime and sellers are now starting to get their asking price, (or 10s of thousands more -- see Steve's comment on last posting); entertain multiple offers and move up to their next house with very cheap loans.Are you ready to sell? Who do you know that's ready to sell?

Home Sellers Market Returns in D.C.

2009-03-27T09:19:00.004-04:00

If you’ve been waiting for the Seller’s Market to return – wait no longer! In the first quarter of this year, several towns and counties in Northern Virginia have entered the Seller’s Market territory with less than a 3-month supply of homes available to home shoppers.Buyers have been leaping off the sidelines for months to snatch up houses that have had a 5-year backup in pricing. For instance,

Northern Virginia Real Estate Market As of March 16, 2009

2009-03-16T11:42:00.003-04:00

Today, the Northern Virginia Association of Realtors sold market is up 10.26% year-to-date.Today, the Northern Virginia Association of Realtors pending sales market is up 21.09% year-to-date.Today, the Fairfax County sold market is up 40% year-to-date.Today, the Fairfax County pending sales market is up 30.96% year-to-date.AGENTS - have you told anyone?BUYERS - have

PUNCH THROUGH!

2009-03-11T13:38:00.004-04:00

I wanted to take a moment and encourage you to Punch Through what’s happening in your business right now. Operate on what you KNOW instead of what you FEAR!Fear paralyzes.Fear creates hesitation.Fear transforms your confidence into doubt. Knowledge is power!Knowledge strengthens your resolve!Knowledge beats down fear every time!Our clients

DC market rated #1 by Forbes

2009-03-03T12:23:00.001-05:00

Finally -- it's not just me. Forbes magazine is letting its readers know that the DC market is on the upswing. Take a look at the link above for the Top 10 as rated by Forbes.com

Just Leave Well Enough Alone

2009-03-01T21:50:00.007-05:00

Yes, I understand we're in the worst foreclosure real estate market on record; and that a lot of people did a lot of bad things; and that we're probably only half way through getting through this real estate debacle. However -- I just ask that the feds be careful how much they need to push along the recovery in the marketplace -- it's already happening. On the street, we watch inventory, pending

The Obama Housing Plan

2009-02-23T18:00:00.002-05:00

I thought you would like to know this information about how the Stimulus Package will affect housing in our area. Frankly, it will tighten up an already tightening market in Northern Virginia. We have been experiencing low inventory and rising prices for the last 6 months west of the Potomac and see no end in sight. Sales are up more than 25% in Fairfax County (and nearly 100% in Prince William

Market is Up - Inventory WAY Down - Prices Holding Steady - Rates Down

2009-01-15T23:06:00.001-05:00

2008 was the Year of Recovery in Northern Virginia and it will continue in 2009, but this time, with a vengeance! Northern Virginia continues to outperform the region, the state and the nation. Buyers face low inventory, competing with multiple buyers and even paying at or higher than asking price. If the market is divided by price ranges, there’s the Hot Market and the Not Market, thus, property

What constitutes the "bottom of the market"?

2008-12-23T13:24:00.005-05:00

I get this question all the time: have we hit the bottom yet? Market by market, that's what's happening across the country. I've been tracking "hot" markets for RealtyTimes.com (http://realtytimes.com/rtpages/manthonycarr.htm) for the last year and I'm seeing very healthy markets across the country in state after state.The strongest market in the country is nearly any county in Texas. As far as

NEWS ALERT: Fixed-Rate Mortgage @ 4.75%

2008-12-11T12:33:00.002-05:00

Hey Folks – I don’t normally send emails out to my whole database, but today’s news is unprecedented from the mortgage field. You can refinance your mortgage on a FIXED RATE 30- or 15-year mortgage at 4.75%. For most mortgage holders, this could save you thousands of dollars per year.I just wanted to pass this on to you and for you to do whatever you want with the

That Bounce Sound Was the Bottom of the Market

2008-12-11T12:14:00.003-05:00

I met up with a potential buyer last night at a well-priced listing that is seller owned and completely fixed up inside. She was worried the price was too high, we hadn’t hit bottom yet, things could get worse, etc., etc.She was not unlike many buyers out there in markets across the country that have already started to show signs of recovery. In Northern Virginia –

FW: Fuel Assistance Program Extended until December 1

2008-11-18T08:26:00.003-05:00

Hello Friends – If you or anyone you know needs assistance this winter with your heating fuel, please see the program below. My wife sent this to me and I wanted to pass this along. There is an online screening process for applicants to complete. Note the deadline – December 1.From: DFS PIO [mailto:DFSPIO@fairfaxcounty.gov]Sent: Monday, November 17, 2008 12:05 PMTo:

D.C. Area Housing Market Booming In Face of Struggling Markets Nationwide

2008-10-27T09:20:00.004-04:00

What makes the Washington, D.C. market different than the rest of the country? The job market within the market. While other cities brag about being the headquarters of Fortune 500 companies, we have something none of them will ever have – the Capital City of the United States. I like the way one colleague puts it when explaining to agents from other states: “When you can put the Pentagon,

Donald Trump: “This is the time to start looking to buy, you’ll get a great deal.”

2008-08-14T23:39:00.001-04:00

Donald Trump, internationally-acclaimed realty guru and multi-billionaire, said on Good Morning America radio August 13, “This is the time to go out and start looking and start buying. Over the course of the next year if you don’t do it you’re going to be very disappointed in the years to come. Now is the best time in years to purchase real estate…especially in the next 12 months to get the best

Northern Virginia Turn Around Full Throttle!

2008-06-27T13:44:00.003-04:00

Wow! I’ve never seen this kind of turnaround happen so quickly. In just a few months, we have gone from negative numbers in every category to double and triple positives all around Northern Virginia (just outside Washington, D.C.). Here’s what’s happening:The foreclosure market has created a feeding frenzy for properties priced under $500,000. Nearly 36% of all homes on the market under $500K are

It's a REAL Spring Market - Northern Virginia Real Estate

2008-06-19T09:33:00.000-04:00

Days on market have dropped. My team members and I are hitting up against multiple offers on listings. Listings in the office are selling. Traffic at open houses are up by 40% in some communities. And the number of contracts written in our market are outpacing last year’s levels. What’s more important to home owners, we are seeing pocket markets that are starting to appreciate.When looking at the

Should You Invest In Foreclosures?

2008-04-07T20:50:00.000-04:00

Periodically I hear from readers who want to make $1 million in real estate -- quickly and with no money down. Usually they want to know more about real estate foreclosures -- how to buy them and how to profit from such homes. I've participated in a couple of these deals, and I'm now working on my second million -- I gave up on the first.Foreclosure properties can be a good place to invest for

Whew! The market's turning

2008-03-31T13:41:00.000-04:00

We are ahead of last March at this time by about 10%. Foreclosures are the hot commodity right now, drawing multiple offers left and right. This week, we were involved with two foreclosures -- one had 10 offers; another 13.Prices are stabilizing and moving upward in some areas in the DC market. I'm seeing the same thing happening around the eastern seaboard. See my piece on http://

Report: Best Time To Buy In 4 Years

2008-03-07T11:34:00.002-05:00

By Tim McLaughlin According to a report released by CNN this past week, it may be the best time to buy a house in more than four years. Valuations on home prices (the difference between what a home should cost and its actual price) are the lowest they've been since 2004, according to the report. The Cleveland-based bank National City Corp, together

Whose Fence Is It Anyway?

2008-03-05T17:04:00.000-05:00

By M. Anthony CarrProperty line issues have suddenly cropped up in the emails I've received in the past few weeks. It appears that homeowners are more aware of their property lines (specifically if a neighbor is violating it) during the spring and summer months than at other times. As we get out there and trim limbs (from the neighbor's big oak tree), mend the fence (which is actually the

Mortgage Limits Increase Provide Buyers Opportunity

2008-02-22T12:33:00.004-05:00

By M. Anthony CarrCongress has spoken on the economic stimulus package and that means most of us are going to get a nice little check in the bank – complements of yourself (it’s your money anyway, right?) Included in the package is a section that will increase the loan limits for conforming home mortgages. Without getting all financialezey on you, it means that higher

Multi-Layered Loans Lower Down Payment, PMI

2008-02-07T07:41:00.000-05:00

by M. Anthony CarrIf you're in the market to buy a home but have little down and want to avoid private mortgage insurance, you might want to look at the multi-layered financing options which have become increasingly available. With these programs, there's a first loan equal to 80 percent of the purchase price, and a second loan for 10 or 15 percent of the remaining costs. The remaining money, 10

Careless Buyers Making Deal-Killer Mistakes

2008-01-30T21:55:00.000-05:00

by M. Anthony CarrIt's every homebuyer's nightmare -- write the contract, get it ratified, go through the excruciating mortgage application process, get approved, and then at the last minute a hang-up turns your American Dream into a nightmare. What's most frustrating is when it's your own fault.Just this week I've talked with agents where a buyer has made some not so wise choices in their

Pocket Markets Reveal Pent-Up Demand

2008-01-25T18:09:00.001-05:00

Here’s the Big Real Estate Story – Interest rates are headed in the 5-ish range again and prices have leveled. That’s it. End of story. Sign here. In fact, the market is actually turning around. Despite what the two dailies have reported, homeowners and shoppers must look at pocket markets to determine how they’re doing as far as the equity in their homes and in determining if it’s time to hold

The Rental Game: What Are The Rules?

2008-01-22T11:38:00.001-05:00

by M. Anthony CarrWhat do you do when the dishwasher has spewed soapy water across the kitchen floor and leaked down on your neighbor below? Who's responsible? The landlord or the tenant? Across the country, tenant law differs as much as the geography. Nevertheless, some principles remain the same regardless of the local

Are You Reading The Signs?

2008-01-09T11:25:00.000-05:00

By M. Anthony CarrI’m in the middle of jury duty. As you approach the courthouse entrance there is obviously a very long line to check in. In a post 9/11 world, those of us in the Washington, D.C. area have become accustom to security forces rifling through our bags, computers and the like for entrance into any public place, including courthouses and ball games. It’s

Getting Ready For Next Tax Season

2007-12-21T11:01:00.000-05:00

by M. Anthony CarrIf you've bought or sold a home in the past year, now is the time to go through your paperwork to find the forms, bills, and old checks you'll need in April -- and beyond.Having sold three properties within a 13-month period, I learned quite a bit about what records the IRS requires to claim certain deductions, gains, losses, etc., versus what records I actually could find. The

Are Landlords Always The Bad Guys?

2007-12-18T15:41:00.000-05:00

by M. Anthony CarrIs it better to rent or buy?Just when I think I've answered this question for the last time and pointed renters to a good "How To Buy A Home" website, I received this letter from a disgruntled high-rise tenant in Arlington, VA, a suburb of Washington, D.C.I have been a loyal renter for over five years at the same apartment building in the Crystal City area. I have seen annual

Landlords Have Rights When Tenant Breaks Lease

2007-12-17T19:20:00.001-05:00

QUESTION:I am a real estate investor in the state of Colorado that purchases single family homes for rent. My question concerns my growing frustration over tenants that break their lease. Typically, we only make a lease for one year periods. The issue typically arises when the tenant finds a home and enters into a purchase contract, then

Does Uncle Sam Owe You Money?

2007-12-13T10:56:00.000-05:00

If you ever held an FHA-insured mortgage -- a loan insured through the Federal Housing Administration -- there may be a refund check waiting for you.Go to the FHA Refund Site where you can search the database by name or by case number. When I last looked, a quick search under CARR revealed two refundees, who only need to call the Department of Housing and Urban Development to claim their checks.

How to Hold Off the Tax Man When Selling Investment Properties

2007-12-12T09:57:00.001-05:00

"Marks, Michael D." wrote: I'm not an investor, nor am In the business of selling or buying land. I am a mechanic. my problem is this, in 1994 I bought 80 acres of land for $24,000.00, I sold this land about 2 weeks ago for 160,000.00. other than putting the money in a saving account I don' have a clue. can you tell me what my

How Much is Too Much to Fix up Your House?

2007-12-10T22:35:00.000-05:00

by M. Anthony CarrAs with any resale product, the person trying to sell said product will usually try to make the product look as new as possible to ensure the highest profit available. In reviewing many of the homes on the market today, however, some sellers don't get that notion. Don't make the mistake of the seller who, knowing full well that buyers were coming by, not only failed to do a

How to Tell Where Your Market's Headed

2007-12-10T22:29:00.000-05:00

by M. Anthony CarrI've had several friends come up to me in the last few weeks and ask: "Is this a good time to sell my house?" or "Is this a good time to buy a house?" Let me preface my 700-word answer with this: If nobody panics, we'll all get out of this alive. Many readers have accused me of being too optimistic on the real estate market. What they see as optimistic is actually an attitude

Sellers Sitting on Large Sums of Equity Dollars

2007-12-10T22:24:00.000-05:00

by M. Anthony CarrMany sellers in today's market are bemoaning the fact that prices have stabilized or are falling in their communities. While year-over-year numbers regionally and nationwide have demonstrated strong appreciation, the latest month-to-month declines in some markets have made headlines and struck fear in the hearts of homeowners everywhere.Despite very robust long-term housing

Prices, Interest Rates Make Up 20/20 Real Estate Vision

2007-12-09T21:47:00.000-05:00

by M. Anthony CarrMany real estate prognosticators have been worrying about the slowing of the appreciation rates across real estate markets nationwide, scaring many buyers out of the market. The Office of Federal Housing Enterprise Oversite released its 2nd quarter figures on average housing prices this month and many market watchers jumped on the "dropping prices" bandwagon.The astute buyer,

Lifestyle Choices Affect Bottom Line

2007-12-09T21:46:00.000-05:00

Realty Times: Lifestyle Choices Affect Bottom LineSeptember 22, 2006by M. Anthony CarrWhen it comes to eventually moving into that dream home you've always wanted, keep in mind that many of the choices we make on a house are really driven by lifestyle desires, rather than lifestyle needs.More bedrooms means more time to clean, more expensive to repaint and carpet/floor in the future. The bigger

Market Moves Forward with Motivated Buyers, Sellers

2006-10-30T20:21:00.000-05:00

I just returned from a conference of top agents from the Washington, D.C., metropolitan area, and while they are working harder this year than last year to turn a deal, they are moving forward with their businesses by working with motivated sellers and buyers."The market is the market," one told me. "You have to sell and buy real estate in this market, not last year's market, and not the market

Determining Rent Determines Your Wealth

2006-10-30T20:12:00.000-05:00

One of the most important aspects of the investment game is creating a positive cash flow from your rental properties. The basic principles apply: buy low/sell high; cover your monthly expenses with your monthly rental payments; go to the bank a happier, richer person.Setting up just how much you want to walk away with each month, however, isn't as simple as adding up all your expenses, tacking

National MLS Created One Listing At A Time

2006-10-30T20:09:00.000-05:00

The latest buyer survey by the National Association of Realtors® revealed that 80 percent of all buyers now begin their search online for real estate. That's quite a surge in just a few years, when the number of cyber surfers for real estate was at about 7 percent of all buyers when real estate and the Internet met. If any industry benefits the consumer online, it's the real estate industry.

What Do Agents Really Bring to the Table?

2006-10-10T23:04:00.000-04:00

I hate going to the dentist. I've always had good teeth, only one cavity in my head, so why spend all that money (not to mention the dental insurance) on a service I've never really needed. As long as I brush and floss, why do I need someone with a doctor's degree to look over my teeth, clean them, whiten them, etc.?Besides, I've pulled teeth myself -- when I was just a grade school kid, in fact.

Single Girl Power Growing Influence in Real Estate

2006-10-10T23:00:00.000-04:00

Ladies, take note, you've begun taking a larger role in the area of homeownership over the last few years, according to a new study from the Joint Center for Housing Studies at Harvard University."Not only are unmarried women a large segment of the home buying population," says Rachel Bogardus Drew, the author of the report, "but they are fast-growing, too, increasing their share of home buyers

Do Brokers Compete or Hold a Monopoly?

2006-10-10T22:58:00.000-04:00

There's a lot of press these days on how much real estate agents are charging to sell houses. The House Subcommittee on Housing and Community held a hearing a couple weeks ago on residential brokerage services, where groups like the Consumer Federation of America (CFA) and American Homeowners Grassroots Alliance bemoaned the current commission-only business of real estate agents across the

Vacation Investors: Keep Up or Get Out

2006-10-10T22:55:00.000-04:00

I wouldn't say that I'm frothing at the mouth right now while sitting in my vacation rental, but I'm getting close. My bride and I just spent breakfast making a list of why we'll never rent this unit again at one of my favorite beach communities.I've rented several properties here in the past -- that's why I'm back this year. But this time has been pretty irritating. Not a disaster, mind you.

Normal Market Produces Buyer Opportunity

2006-10-10T22:51:00.000-04:00

by M. Anthony CarrBuyers scurry, afraid of buying at the height of the market. So why aren't builders running scared? Because the underlying principles of a good market remain sound in the midst of the market fears. While nationally, the industry has cooled to "more sustainable levels," according to the National Association of Home Builders, "The Bureau of Labor Statistics reports strong job

Picking and Choosing the Next Real Estate Boom Area

2006-08-17T13:10:00.000-04:00

Everyone's looking for the next real estate rush -- the place where people will be able to buy at $100,000 and sell for $200,000 in six months. So I get emails about whether one town is a better place to buy over another. Is it time to buy or sell waterfront property? Is land the next boom market for real estate?The answer, simply, to all the above is "yes." Yes, if all the parameters that

Ensure Smooth Transaction by Protecting Your Credit Identity

2006-07-28T11:49:00.000-04:00

He has struck again. As some of you know, an identity thief hit me about three years ago and opened several cell phone accounts in my name. Like many consumers who have been victimized by this ever-growing crime, I didn't know anything about it until I was denied credit with a cell phone company who asked why I needed another cell phone when I already had five open with them. Oh, by the way, you

Grandpa's Liens Could Cause Bumps in Transaction, Inheritance

2006-07-28T11:45:00.000-04:00

Liens on properties have existed probably since the sale of real estate began. A lien is simply "the lender's right to claim the borrower's property in the event the borrower defaults," according to mtgprofessor.com. "If there is more than one lien, the claim of the lender holding the first lien will be satisfied before the claim of the lender holding the second lien, which in turn will be

Sellers Face Contingent Dilemma

2006-07-28T11:42:00.000-04:00

Contingencies in contracts will always exist. It is a rare thing to find a written contract which satisfies both parties right up front without a contingency.In a sellers market, even if the buyer writes it with no contingencies, the seller will tack on a few of his own -- must find home of choice, comes to mind. Even so, when sellers add contingencies, it's usually only a couple that are easily

Wake Up Buyers -- Deals Abound

2006-07-28T11:40:00.001-04:00

It's not a buyers market officially in a lot of areas, but it's now starting to favor buyers after years of transactions where buyers had to escalate prices by the tens of thousands and nix home inspections, appraisals and the like. Thus, my advice to buyers -- get out there and catch a deal while you can.All the indicators keep pointing to a healthy, vibrant real estate market in most cities

"Losing" on Real Estate Price a Matter of Perspective

2006-07-28T11:40:00.000-04:00

When it comes to pricing your house when you’re ready to sell it, keep in mind you must sell in the market you’re in today. It doesn’t matter what your former neighbor got six months ago, or what properties are listed for now. All that matters is this -- whatever the last sale price in your neighborhood of your model -- that’s probably your sale price now.When you’re looking at what you’ll gain

Pricing Right Sellers' Job No. 1

2006-07-28T11:32:00.000-04:00

It seems during a slowing market, the last person to get the message that the house needs a lower price is the seller. After all, the seller has the most to lose by "improving" the price and it's a tough decision to let go of a dream of cashing out.A sellers market builds over time. If new jobs enter a particular area and housing doesn't keep pace, home shortages create a sellers market where

7-Ways to Make Money On Investment Properties

2006-07-28T11:30:00.000-04:00

The market has cooled in various cities across the country and fair weather investors are starting to worry about how they'll be able to make money now that their houses aren't escalating at astronomical rates.I just have to say to these folks -- breathe. If all you want to do in real estate is make money on the basis of appreciation (asset growth), then you need a primer on how to make really

Practical Things to Remember When Home Shopping

2006-07-28T11:29:00.000-04:00

Most folks are always looking for the ever-elusive "dream home." Not too long after settling into a new dwelling, many residents begin to pick apart the house they just rented or bought.Someone who really likes the idea of a laundry chute (great, no more walking the dirty clothes to the laundry room), rethinks that idea when they now have to climb up two flights of steps to put away the clothes.

Renewable Energy Homes Still A Dream of the Future

2006-07-28T11:26:00.000-04:00

As I was growing up, everything was supposed to happen by the year 2000. All cars would be running on electricity or alternative fuels. All clean air was supposed to be depleted, and we would all have portable phones (well, we got that one right). Another item I thought would be in use a lot more by the 21st Century was the integration of renewable energy into our daily living at home.At one time

Lessons Learned From Remodeling Project

2006-07-28T11:22:00.000-04:00

It wasn't too long ago … okay, it was actually several months ago, that I let you into the world of my remodeling project and provided you with some tidbits of what to be aware of during this August type project. Now that I've entered my seventh month of the project I've learned even more, all for your benefit.First, I'll share some items that I did right. Then other items that I would do

Low Monthly Payment Key to Investing

2006-07-28T11:21:00.000-04:00

Many people have emailed me lately with their woes of buying pre-construction dwellings a few months ago in hopes of grabbing a quick buck by flipping the dwelling once they go to settlement. In the heated market last year and previously, many a novice investor made a lot of money in this way. However, the warning given at that time that a buyers market could cause them much pain and financial

The Bath: Enjoy It Before You Sell It

2006-07-28T11:19:00.000-04:00

Friends of mine decided to sell their townhouse a while back and immediately knew what they had to do to demand top dollar, if not, multiple contracts: get the house in shape. A couple of weeks, two contractors and $10,000-plus later, they had new carpet; new kitchen appliances with white flooring; new paint throughout (including the demolition of a mirrored wall); power-washed/stained deck; and

Don't Forget: Security Deposit is the Renter's Money

2006-07-28T11:18:00.000-04:00

Every state has its own laws regulating the care of security deposits from renters. The first rule from every state is to the landlord, reminding him or her that the security deposit is NOT their money. The security deposit comes from the tenant and belongs to the tenant until the term of the lease expires.State laws govern the handling and care of the security deposit from how much it can be,

Vacation Properties Come With Extra Expenses

2006-07-28T11:16:00.000-04:00

There's nothing like a short jaunt to the beach (or mountains) to release your stress, get your first seasonal sunburn and start thinking about buying a piece of vacation rental property.Come on, we've all done it. Just when the sand is about completely shaken out of all the towels and swimsuits, you start drooling over the prospects of owning your own home on or near the water.How difficult

'Great' Investment Ideas Sometimes Illegal

2006-07-28T11:14:00.000-04:00

Every so often I'll receive an email from an assertive investor who has purchased a house and started running their own real estate investment business. Recently one such emailer received a letter from a county or city agency telling them to cease and desist their activity. The letter was directed to me for a sympathetic ear.Below are some ideas that novice investors may think they can carry out,

Who Makes More, You or Your House?

2006-07-27T11:00:00.000-04:00

Last year my house increased in value by $95,000, according to my local tax assessment. The joke in the Washington, D.C. area is that your house could make more than you do in a year. When it comes to the annual tax bill increase, however, it's not very funny.Fairfax County, VA (yes, home to the Final Four surprise George Mason University Patriots basketball team), is a tough location in which to

Ways You Can Lose Your Property

2006-07-27T10:58:00.000-04:00

There are times and ways that people lose their homes through foreclosure or possession. The way many rags-to-riches seekers pursue the quick buck is through the foreclosure sales. Nevertheless, there are several other ways homeowners or investors can lose property. Below are at least six ways a homeowner can lose their property to the auction block.Don't pay your mortgage. Generally, quit paying

Pricing as Much Art as Science

2006-07-27T10:57:00.000-04:00

When shopping for a new home, I've heard many a buyer say, shaking their heads, "What were these people thinking?" Unless the agent has previewed the house and eliminated the "dogs," a buyer can spend a whole day looking at such a wide range of homes that it becomes impossible to see all the inventory in their price range.Pricing property can be more art than science in today's market. New home

HOAs Create Dreams and Nightmares

2006-07-27T10:55:00.000-04:00

A new homeowner wrote that he has not only purchased a new lot in North Carolina to build a future house, but it appears he's also bought into a lawsuit between the new board of directors of the ruling HOA and its developer."My first concern is that this was something they started before I became involved and had no control over. Second it seems that this is really a personal battle with a few

Determining Market? It's More than Price Statistics

2006-07-27T10:53:00.000-04:00

I spent nearly an hour on the phone with a gentleman the other night talking statistics and the real estate market in the Washington, D.C. area (one of the hottest markets in the nation). He's trying to decide on buying a home in this area and whether he would be wise to wait and buy or buy and wait.Looking over the statistics provided by the D.C. area's local multiple listing system (

10 Ways To Get Your Price

2006-07-27T10:51:00.000-04:00

When buyers gain more leverage in a housing market, sellers must think out of the box to entice buyers to their homes, then to lock in their asking price. Below are 10 ways to get your home sold and, if not at your price, at least a little closer than what you might have gotten otherwise.Finished rec room. This gives the buyer a lot more than just money in his pocket. You may be able to finish an

'Good Deal' Matter of Interpretation

2006-07-27T10:50:00.000-04:00

Everybody's looking for a good deal. Sellers want the highest price possible and buyers want to buy a house below asking price. They both want the same thing -- a good deal. Following years of a sellers market, many consumers are facing a more normalized market across the country. Particularly, in large metropolitan markets, the normalizing of the market has created a wait and see attitude on

Plenty of Online Help for 2006 Real Estate Tax Info

2006-07-27T10:46:00.000-04:00

It's that time of year again and I can tell people are starting to do their taxes by the level of emails I receive with tax questions regarding real estate. There are so many ways to skin this tax cat, that I felt it best to let the professionals handle your calls. Thus, I've sifted through several search engine pages to point out some pages and sites worth your click to get you headed in the

Plenty of Programs for First Timers, Cash Poor

2006-01-31T10:04:00.000-05:00

With the cooling of the housing market, first-time buyers need to be assertive in elbowing their way up front of the home-buying line -- now. The cooling, or normalizing, doesn't mean the market is tanking. It means just what it says -- it's going to be more normal. Housing will continue to appreciate, sellers will continue to sell and buyers will continue to buy. The question is whether buyers

Agent, Vendor Relationship Pretty Tight

2006-01-31T10:03:00.000-05:00

Peeking at an online real estate discussion group, the question came up (and I've heard it before), is it bad to take a referral for my mortgage broker from a real estate agent? The quick answer is – no problem.When it comes to the real estate industry in a local area, it's a pretty small community. Agents, lenders, various inspectors, insurance professionals and home warranty providers all know

Negotiating Points Sells Houses, Benefits All

2006-01-31T10:01:00.000-05:00

When I'm looking to sell a property, the first thing I have to look at is my "BATNA," or Best Alternative To a Negotiated Agreement. This is the question a good agent should be putting forward to both buyers and sellers."If we can't sell this house at your asking price, what are your steps you're willing to take?" The same can be asked of a buyer. The bottom line rests with what the buyer/seller

Rebates: Consumer benefit or agent pay cut?

2006-01-09T17:13:00.000-05:00

One of the latest consumer-oriented real estate benefits getting press these days is the commission rebate to buyers. In essence, a buyer purchases a house and receives a 1 percent (or some derivative of the sales price) rebate back at settlement. On a $215,000 house (national average) that's $2,150 back to the buyer.The debate goes something like this -- if the average commission is 6 percent

Some Owners Don't Understand "Presentation"

2006-01-09T17:10:00.000-05:00

I went out with some friends this week to look at some houses. They're moving up from a condo to a single-family home and they're very excited. As we caravanned from home to home, it was obviously clear that some owners in this market sincerely believe they can offer up a can of worms as caviar.During a real estate course I took years ago, the trainer used a fantastic example of how human nature

Statistical Analysis Eases Bubble Talk, Shows Rents Growing

2006-01-09T17:08:00.000-05:00

There's been plenty of press lately on softening markets around the country and now there are more articles finding ink about how the real estate bubble isn't really a bubble, hasn't burst and is more likely just seeping out some air.I've had a Google News Alert established for months now on "real estate bubble." It's amazing how many local newspapers keep reporting about the bubble – somewhere

Ye Ol' Seller Subsidy`

2006-01-09T17:06:00.000-05:00

You're reading through a real estate website, searching for houses that might meet your criteria. As you're reading the fine print (and I suggest heavily in reading the fine print), you start seeing the words, "Will help with closing costs," "$5,000 to buyer for closing," "Decorating allowance," "Seller to assist buyer up to 3 percent." These items are referred to as "seller subsidies."If you're

Rates, Not Home Prices, Worst Enemy In Affordability

2005-12-12T06:26:00.000-05:00

With all the talk of softening markets, many buyers have moved to the sidelines hoping to wait out high prices, believing that lower prices will help them along the path to homeownership or to move up into the house they really want. Instead of prices, buyers should really keep their eyes on interest rates ? the most powerful component of the home-buying process. In a nut shell, if you wait for

Selling House May Have to Satisfy Three "Buyers"

2005-12-02T07:16:00.000-05:00

When placing a house on the market, the seller must remember early and often that there are going to be three "buyers" who must be satisfied with the eventual price of the property. The buyer, appraiser and underwriter must all agree with the price of the house before it can go to settlement (particularly if there is no large down payment involved.) Here's how it happens. The Buyer When you go

Real Estate Bubble Theorists No More Than Squealers

2005-11-25T07:40:00.000-05:00

Have you ever squirted a little kid in the back with a stream of cold water on a hot summer day? I've seen this throughout our neighborhood and it's actually sadistically humorous to watch the little tykes squeal and run away from their parental tormentors. Those who keep whining about the coming "burst" of the "real estate bubble" remind of these squealers. Sometimes I feel like the lone voice

Decluttering Before Remodeling Key to Sanity

2005-11-25T07:38:00.000-05:00

If you're looking to remodel your house this year, as thousands of Americans do, be sure to look beyond just the color swatches, carpet samples and appliances. Remodeling is more about shoveling out the junk than anything else. Particularly true is if you're redoing several rooms at the same time. When I finished my basement, a week after preparing for the contractor, I figured out that I had

Should You Remodel or Move?

2005-11-25T07:37:00.000-05:00

Unless you've taken a new job in a new location, the decision to move up may involve deciding on whether to remodel or move altogether. Homeowners nationwide will spend $192.8 billion this year to either remodel or repair their homes, according to the U.S. Census. The Remodeling Index, provided by National Association of Home Builders' Remodeling Council, determines minor alterations at $25,000

Energy Mortgage Stretches Buying Power

2005-11-07T07:43:00.000-05:00

Cooling temperatures around Capitol Hill make me think of ways to get the old home place ready for the winter months in the fickle Mid-Atlantic area and that usually means spending some money on insulation, caulking and the usual home maintenance that keeps the cold air out and warm air in. There's a mortgage on the market that could be worth a look to help either buy an energy efficient house

Radon Gas Still Invades U.S. Homes

2005-11-04T07:35:00.000-05:00

It seemed about 10 years ago you couldn't open a real estate section in a newspaper without seeing an article about radon -- a colorless, odorless, radioactive gas -- that is the second leading cause of lung cancer in the United States. Radon dissipates to harmless levels once outside, however, it can cause life-threatening vapors when locked in your basement. The gas can enter through

Real Estate Bubble: A Self-Fulfilling Prophecy?

2005-11-04T07:33:00.001-05:00

There are plenty of naysayers about the real estate market and its unprecedented growth. Las Vegas-based ReviewJournal.com, for instance, has given cyber-print on a report by Doug Fabian, president of Fabian Wealth Strategies and Josh Lewis, first vice president at Santa Ana, Calif.-based Stearns Lending. The report, "Boom to Bust," says the following issues about current homeownership points to

One-Stop Shopping Serves Consumers and Real Estate Companies

2005-11-04T07:33:00.000-05:00

Gone are the days of single-product real estate companies. The company that offers only sales support and consulting for consumers is a company that will have a difficult time competing in the future real estate industry, according to a study from Clareity Consulting in Scottsdale, Ariz. "With margins becoming tighter in the real estate brokerage community, the revenue and consequent

Real Estate Careers Cost More Than You Think

2005-11-04T07:32:00.000-05:00

The real estate sales industry has seen an amazing amount of growth over the last several years as it has morphed into a multiple services industry, rather than simply a sales services business. Any time an industry experiences amazing growth, you'll find a lot of people move to it to get into the flow of money. The mortgage industry underwent this type of amazing growth in the 1990s and into

Agency Not As Simple As It Looks

2005-09-30T19:01:00.000-04:00

It's about that time of year when people start reviewing their professional lives and determine if they want to continue down the same vocational path -- and that thought process leads a lot of people to sign up for real estate classes.Many real estate agents I've talked to say they made the decision to get into real estate after having purchased a home and seeing a seemingly easy job performed

When Is It A Sellers' Market?

2005-09-30T18:59:00.000-04:00

The ever elusive bubble that the media discusses has pretty much yet to evolve. I did some research and found the first mention of over-inflated properties back in 2001 when RealtyTimes.com columnist Broderick Perkins interviewed several real estate bubble watchers to find out their definition of a sellers versus a buyers market.Simply put, you know you're in a sellers market when the buyers have

Are You A Homeowner or A Thief?

2005-09-20T19:39:00.000-04:00

A story in This Old House magazine this month details the stealing of a whole house by thieves who deal in used building parts. The crime, in Lindale, Texas, took place, obviously, over several days, in broad daylight and while the hardworking thieves waved to neighbors walking by, assuming the men were just a couple of workmen doing some tasks for the owner. Antique housing parts --

Teardown Housing Becoming Larger Option for Homeowners

2005-09-20T19:38:00.000-04:00

When does a house outlive its use and is better torn down than repaired? This question is creating controversy across the country where a shortage in the housing pool has forced this type of infill development. A teardown is a property that is purchased with a house and then the house is demolished, followed by the construction of a newer, bigger, hopefully, better home. To the new homeowner,

Outside Factors Determine Leveling Market

2005-09-20T19:37:00.000-04:00

Which way is the market headed? And what directs which way it will turn, up or down? These are questions real estate professionals hear on a consistent basis -- especially in light of unprecedented market appreciation across the country. Currently, the average sales price of a home in the U.S. stands at $219,000 (14 percent more than the same period as last year, according to the National