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This Week’s Featured Listing-Bells Mill Estates

I’ll be holding it open this Sunday, November 2, 2014 from 1-4 pm.

To view full photo gallery of this home click on the image below:

10910 Larkmeade Lane Potomac, MD 20854

Located in sought after Bells Mill Estates this home features five bedrooms, four full plus one half bath on three finished levels. The open floor plan is ideal for spacious daily living and entertaining. The two story foyer opens to a formal living room and dining room connecting to a large open kitchen with breakfast area. Additionally a grand two story family room with fireplace leads to the Office/Library as well as dual staircases leading up to the second level. The large master suite features a sitting area, coffered ceilings, huge walk-in closet and spa-like master bath. The finished lower level offers wall to wall carpeting with a den/recreational room area, gym, playroom, full bath, two bonus rooms and tons of storage.

5 House Hunting Tips for Any Season

1. Write down your most important requirements and top deal-breakers in a home.

2. When you walk through a home, take notes. Once you’ve looked at several homes, they may begin to blend together. Jot down a few sentences about what you liked and didn’t like before you leave to help you differentiate between them.

3. Look for damage or areas of improvement. Open the closets and cupboards, lift the rugs and check out each room from top to bottom to check for damage and make sure there’s enough storage to fit your needs.

4. Drive by the home at different times a day and pay attention to the vibe and noise level of the neighborhood.

5. Imagine the potential of the home. It may be difficult to see the potential of a home with hot pink walls; however, picture the walls with a fresh coat of neutral-toned paint and your personal stamp on them.

If you’re in the market for a home, be sure to get pre-approved for a mortgage. This will help tp speed up the process when you find the home you want to live in.

DIY: Halloween Costumes

Can’t think of what to be for Halloween? Check out these amazing DIY

Images via Pinterest

Winterizing the House You Want to Sell

The on-air interview

Winter is around the corner! If you’re buying a home there is a special considerations you should ask the seller to consider. This was the topic I discussed with Mike Murillo at WTOP News. You can listen to the discussion in it’s entirety by clicking on the link at left.

DIY: Halloween Decor

Images via Pinterest

Should You Buy Or Sell This Year?

“How’s the market?” is one of the most popular questions that real estate professionals are asked. Nationally, home prices are still considered affordable, homes are on the market for less time, interest rates are still low and more than two-thirds of Americans say that now is a good time to buy. Here’s an overview of national housing market trends. If you want to know more about the local market, contact me at 202-412-6464. I’m happy to give you the scoop about our local real estate market.

40% of Americans say that now is a good time to sell.

70% say it’s a good time to buy.

64.8% Homeownership rate in Q1 2014

Home Prices Are Up!

Median existing home price in June was $223,300, up from 4.3% from June 2013.

The average sales price of a new home that sold in May 2014 was $319,200.

48% feel that home prices will go up in the next 12 months.

3.5 million U.S. properties rose out of negative equity from 2013 to 2014 due to rising home prices.

Median existing condo price was $215,700 in June, up 3.2% from June 2013

HOME SALES ARE UP AS WELL

In the past year, existing home and condo sales rose 11% to 5.29 million, close to the highest level in 4 years. Sales of new single-family homes rose 8.3% June and reached a seasonally adjusted annual rate of 497,000 units, the fastest sales pace in five years. Existing home sales increased 2.6% in June 2014 and have reached the highest sales pace since October 2013.

Add Some Excitement to a Backyard with Cool Fire Pit Ideas

Images via Pinterest

Looking for a D.C. home but can’t afford it?

The on-air interview

Are you looking to buy a home but can’t find what you want? Can’t decide whether to buy a single family home, town home or condo? Maybe it’s time for a new strategy. This was the topic I discussed with Mike Murillo at WTOP News. You can listen to the entire interview by clicking on the WTOP logo at left.

Creative and Cool Ways to Reuse Old Tires

Images via Pinterest

How to Prepare for a Bidding War

In many areas around the U.S., low inventory is causing a bidding wars to erupt between buyers. According to a recent study, over half of buyers faced competition on an offer they wrote. How can you outbid other buyers and get the house you love at a price you can afford? Follow these simple tips:

Do your research: If you have your heart set on living in a certain neighborhood, find out how long a typical home in that location stays on the market before selling and how much homes are selling for. This will give you a realistic estimate of what you can expect to spend.

Get pre approved for a mortgage. Pre approval, in addition to getting the rest of your finances in order, will help you figure out how much you can spend without over extending yourself financially.

Pick your battles. Many people are eager for a great deal on a foreclosed property or fixer-upper. When competitive bids are involved, it’s easy to overbid and negate the discount. If you’re a first time homebuyer, you may end up in a biddingwar with experienced investors who are in the market to flip a home for profit. Remember, buying a foreclosed property or home that’s in despair will involve a fair amount of renovation after it’s purchased. While minor repairs and updates are often par for the course in any home purchase, make sure you’re ready to handle the demands of these high maintenance properties before you bid.

Maintain perspective. If your bid is rejected, it’s natural to become more aggressive when you bid on the next home. However, this may cause you to pay more than you had originally intended. While no one likes rejection, don’t take the bidding was too personally.

Have the cash to cover the difference between the negotiated price and the apprised value of the home. Mortgages often do not cover more than the home’s appraised value. Since appraisals are partially based on comparable sales in the area, it’s possible for the appraised value to be lower than the negotiated price due to foreclosed and distressed properties. In this case, it’s helpful to have enough money saved to make up the difference.

If you’re in the market for a new home, I can help! Call me to learn more about our local market and how I can help you find the right home.

And remember, I’m never too busy for your referrals!