District of Columbia

America is watching as huge numbers of properties are entering the foreclosure system but far fewer are leaving. What has resulted is a huge backlog of unsold homes and other distressed properties owned and being held by financial institutions. It is these properties held in limbo that are called the "Shadow Inventory". They are being called "Shadow" because they are properties not listed in the statistics compiled by The National Association of Realtors, The National Association of Home Builders nor the US Dept of Commerce.

No longer even questioned as a myth, "Shadow Inventory" is creating quite a stir. Speculation is running rampant and it is no wonder why. The US real estate market hasn't experienced such a phenomenon at this level before. So even the top experts in the financial, banking and real estate markets can't agree on what will happen nor to what degree.

At best, it can be said that it is a very complex situation. Banks claim to be trying to save the economy while not having to sell properties at huge losses. Meanwhile ,some economists are accuse banks of trying to artificially control supply and demand, which is leading to legislation debates over whether or not there may be unfair and deceptive practices going on.

Buyers are searching and demanding information. They are raising questions such as "Where is this excess inventory?", "When will the next wave of this inventory hit the market?", "How large is this inventory?", "Will this inventory cause a decline in market prices?", and "How can offer my home for sale without a loss in this market?".

One can see why so many people may be getting frustrated and impatient for answers as real estate agents are left reeling as they try to come up with real answers. They, too, are searching for answers on what to expect in the upcoming months and years as these homes hit the real estate market. The top Realtors are staying on top of what the experts and legislators are saying while keeping current with the constantly changing homebuyer guidelines.

Meanwhile, there is some good news to report. Fannie Mae is currently implementing the Deed for Lease^TM Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property deed back to the lender. Click here for more information. Most experts do agree that it is in the best public interest to try to Americans in their homes during this time of economic recovery.

Rachel Valentino is a respected and accomplished Realtor in the Washington DC real estate market. Log on to her website, the Atlantic Coast Connection, to learn more about her and view available properties or contact her to discuss your selling opportunities. You can count on her to be on top of the hottest topics and give you sound advise on real estate subjects.

The mainstream real estate market is still iffy, but the green real estate market is gaining momentum. We talked with Adam Gallagos of Arbour Realty — Northern Virginia’s first green real estate company — to find out about the local green real estate market, how homeowners can reduce their carbon footprint, and the coolest eco-friendly home he’s ever seen.

Check out the interview on Going Green DC.

I was wondering how are some people able to tweet 20-30 or more times a day? Where do they get time for it? So, I was searching on the web and found TweetMiner. It allows you to schedule and/or automate posting to Twitter.

http://tweetminer.net/affiliate/idevaffiliate.php?id=255

I think it is a big help for people who tweet a lot.

Things You'll Need:

• Pencil and paper, patience, time,

1. Step 1

First of all, do your homework and be prepared. Collect pictures from magazines etc. Write down what you would like to have the contractor accomplish. Be as specific as possible.

1. Step 2

Get your family together (as appropriate) and discuss how much money you are willing to invest in your remodeling project. Make a list of priorities for the project and share both with the contractor.

1. Step 3

Ask your friends and neighbors who they would recommend. BBB is of little value, many good contractors are not members of BBB. Check the company website and industry affiliations. Being a member of NARI (National Association of the Remodeling Industry) is a plus, but again, many good contractors are not members of NARI.
Don't use the various online contractor referral services.
They charge contractors for every name of a potential customer while providing very little value.

1. Step 4

Talk to 2-3 companies referred to you. How do you feel about them? Do you connect or are you comfortable with some of them, is there good chemistry? If the company going to spend a few months in your home, good fit may be more important than a few hundred $$.

1. Step 5

A good contractor will have a well written contract with all details spelled out, including start and finish date, payment schedule etc. Read it carefully and do not hesitate to ask questions.
References don't have much value because nobody gives bad ones. Call the references of the contractor you decided to work with if you wish. Ovoid casual calls to the references of the contractors you are not planning to hire. Remember, their references are regular people, just like you and me, they will invest their time to talk to you. Don't waste it.

1. Step 6

Be direct, but understand, nobody if perfect (even you) things happen in remodeling. Whatever comes up, address in on the spot and work with your contractor to resolve any issues immediately. A good one will have no problem with that.

The Blizzard Diaries: The Politics of Snowplows

The fortunes of many DC mayors have come and gone with blizzards and the way they handled snow removal on residential streets.

During a big one in the 1990's, our then mayor was enjoying himself at the Superbowl. And that (among other things) was his downfall.

Now, Adrian Fenty, our young and energetic leader, is facing a re-election very soon, and you'd think he'd learn from the mistakes of his predecessors.

While I was in Hawaii during the December snow, it sounds like the Department of Public Works did a pretty decent job with the all-important snow removal. But this time it's different.

OK, I'll give him a break for the difference between a 16 inch snow and a 20-something accumulation, but there is something that I'm annoying myself with.

Mayor Fenty is my neighbor. He lives around the corner from my house.

Between his house and the nearest big traffic artery, you can actually see pavement. You can drive on it without risking your life.

But it's Tuesday, and my block has yet to see a snow plow!

Now, I always thought it would be good to live so close to the mayor, that in an effort to impress the guy the Department of Public Works would get to our streets right after the major arteries got cleared. But not this time.

During Fenty's tenure, things have worked. Our trash gets picked up. Potholes get filled. Even the test scores in the DC public schools are on the upswing.

And I have to wonder: is it fair to hold a mayor responsible for the aftermath of such a force of nature? Well, my guess is that he might find that life is not fair as his fund raising appeals go out to a constituency that will look at them and remember the blizzard of 2010 and how they couldn't leave home after five freakin' days!

And fair or not, it's going to be his fault.

But at least he wasn't at the Superbowl over a weekend when Washingtonians could not get to Superbowl parties!