Washington, DC

Our Function as Realtors is to Provide Information for Our Clients' Analysis

Analysis Is the Key to Making Good Decisions

I just read a very useful blog by Bill Marriott, CEO of Marriott Hotels et al about analysis as the key to making good decisions. He referenced General George Custer, famous for being annihilated in Custer's Last Stand at the Battle of Little Bighorn before the turn of the 19th century. He described Custer as a somewhat impetuous, but brilliant, officer, who became Brigadier General in the United States Army and was an important contributor to the Union victory at the Battle of Gettysburg by the age of 23.

As Bill Marriott noted Custer was always anxious to charge forward and get the job done. At the Battle of LIttle Big Horn, Custer should have stopped and assessed the situation and waited for the rest of his army to catch up. Instead, he rushed into battle and he and his troops were massacred.

It's so very important to get things done but it's also important to understand the field of play. In business, information is extremely important, and so is analysis. Our clients can find the houses that they want to see on the internet sometimes more quickly than we can since the only thing they are doing is looking for a house in a particular neighborhood. At times we seem reduced to the function of key carrier and door opener.

That is such a mistake. We need to demonstrate our value to our clients from the very beginning. When we first meet a client, it is helpful to bring some statistics and analysis of the DC neighborhoods they are interested in. Put together a comparative market analysis on the neighborhood in Bethesda or Chevy Chase, Maryland. Demonstrate your knowledge to them. Bring them information about schools or commuting patterns. Demonstrate to them how you intend to save them money or beat out the competition if there are multiple offers. Show them how you will help them analyze their purchase. Make them realize how valuable you are. Cement their loyalty to you.

If you have any questions about how to put together a winning offer to purchase, please call Lise Howe at 240-401-5577. She has been a realtor, associate broker, and attorney for over 20 years in the DC metro area.

One of the many wonderful aspects of life in Washington is the ability to rub shoulders with real history. Occasionally, homes of the founding fathers come on the market and visiting them gives an opportunity to imagine life in another time.

For instance, if you have $19.5 million dollars (or a buyer with that kind of loose change), you can bask in a glorious house built in 1787 by James Stoddert, the 1st US Secretary of Navy and a George Washinton confidante. Halycon House once was owned and expanded by Mark Twain's nephew. Located in Georgetown on half an acre overlooking the Potomac River, it has 5 bedrooms, 9 full baths, an outdoor pool, a large artist's studio, and parking for 12 cars.

414 Franklin in Alexandria was built around 1780. Originally used as a tavern where George Washingotn spent his last fourth of July, it is now a beautiful home with four bedrooms and four baths, five fireplaces, and a spectacular garden with gazebo, pool, and wisteria arbor. There is even a carriage house with a two car garage all on almost a half acre of land.

If you are looking for a really old property, then you should definately see the Manor House at The Reserve at Black Rock in Darnestown. Built in 1700, it remains a gracious colonial with over 9,000 sq. ft. - 4 BR, 6.5 BA, 7 fireplaces, and an elevator. Growing like Topsy since 1700, the last renovation took place in 2000. Besides a beautiful home, the sales price of $2.250,000 includes 73 +- acres, two ponds, pastures, woods and backs to Seneca Creek Park - the land is not subdividable.

Whether you are looking for an old home or a new one, call Lise Howe of Coldwell Banker at 240-401-5577 to find that perfect house.

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.

President Obama is expected to sign the revised home buyer credit some time tomorrow. And, at the risk of looking a gift horse in the mouth, I'm not sure how I really feel about the whole thing.

With the increased income caps of $125,000 ($225,000 for married couples), more people in the DC area will be able to take advantage of it. But think about it a minute. Is the idea to help first time buyers? Or is it to help sellers? And who are the sellers? A lot of them are banks selling foreclosed properties.

Um. Is this one more bank subsidy?

The subsidy is providing an incentive for buyers to go into the market. With more buyers in the market, home prices are increasing in some areas, and here in Washington, we are starting to see multiple offers in the double digits for well-priced homes. So the buyer's tax credit may be offset by higher home prices, at least at the lower end of the price spectrum.

I have to keep in mind that the lower end of our price range in Upper Northwest DC is upper brackets in other parts of the area. Many neighborhoods east of Rock Creek Park and in other quadrants will benefit. And the credit will likely benefit condo sellers.

While this isn't a bad thing for sellers and the buyers who will get the tax credit, remember that a tax credit is $8,000 per transaction being subtracted from the plus side of the

national budget, which is already bursting at the seams.

In the meantime, I will try to do my part to make hay while the credit is in effect. Hopefully, the credit will benefit Realtors® around the country, and we will pay more in income taxes, unless of course, we make less than the income cap and buy a place.

This mural is on the side of my favorite bookstore, Politics and Prose on Connecticut Avenue. They have a large collection of both fiction and non-fiction, as well as great historical stuff about Washington, DC's rich history.

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.