We will keep it short and sweet this month because the big news is still the brisk local market, which leaves little time for anything else! We have all been assuming the recovery is being driven by the Federal Tax Credit and excellent mortgage rates. The credit expires in two weeks and the smart money is on rising interest rates so we should know by this time next month if what we've been seeing is the beginning of real recovery or not. Fingers crossed.
In the mean time, we continue to try to stay current on the latest local and national real estate news so that we can help our clients make the best possible decisions regarding their purchases and sales. Of course, the crystal ball proved a bit cloudy for all of us a couple of years back so we're kind of shy on predictions, but information is always empowering. We try to share the best of what we hear and read on our Facebook Page, on Twitterand for those of you that just want to look with our having to sign into anything, on our blog. Social media is more than just a fad or for young people, it's a great way to stay up to date for everyone. We try to share something interesting every day including links to articles on everything from staging a home for the market to fair housing laws, favorite retirement communities or the dangers of Chinese drywall. We also welcome guest posts from anyone associated with the housing industry. If you have a good idea you would like to share or want to promote your business by providing useful information that pertains to real estate, by all means let us know. We appreciate the fresh ideas.
And before I sign off: thank you, thank you to all who have sent referrals this month. Nothing beats knowing that you've spoken highly of us to a friend! You can be sure that they will be well taken care of. Enjoy this GORGEOUS spring weather!
All the best -
Barbara, Tom, Susan, Harrison and Ron
Long and Foster Real Estate, Inc
Dear Nalls Home Partners Clients, Friends and Family:
Well, I know everyone is sick of the snow. Sick of shoveling it, wading through it, cleaning up after it - even sick of taking adorable pictures of their dogs and children playing in it. Certainly sick of talking about it so I'm sorry to bring it up, but it IS this month's Washington Area real estate news.
First of all, it is real estate news because it is just wreaking havoc on our homes. When some 80,000 of us lost power, pipes froze and burst all over town. Then came the ice dams and we all went from zero to sixty on our working knowledge of snow melt cycles on roofing systems in no time and comparison of shingle types and gutter companies has became the topic of the season. Next we can expect basement flooding from snow melt and choked drains. And goodness only knows what all of our landscaping looks like underneath all that ice and snow. We will be a long time digging out of this one.
If you need a referral for a good roofer, drywall contractor, plumber, electrician, landscaper or handyman - we are just a phone call away and glad to help! 240 497 1900 begin_of_the_skype_highlighting 240 497 1900 end_of_the_skype_highlighting or check our website www.NallsHome.com
As for our business, the snow brought what was looking like one of the earliest, busiest Spring market's we had ever seen to a grinding hault. As soon as the holidays were over, what little inventory was out there was getting snatched up all over the metro area. Houses in nearly every price range that had been sitting - in some cases for months or even years - were suddenly under contract. Tales of multiple offers on listings - ten, twenty contracts - were the talk of every real estate office. Even a rumor of new listings created excitement.
Until 4 feet of snow fell down on our heads. Now it's hard to say just what the spring market will hold. Some agents worry that the buyer's will have lost momentum after they get back out there. I tend to doubt it and think this Spring Market will be everything it was shaping up to be before the storms and more. All the drivers are still in place: low interest rates, pent up demand and the government tax incentives. What's more, many folks who were sitting on the fence about downsizing undoubtedly got the push they were looking for when they had to shovel all that snow. And I'm sure there are lot's of people that came to the conclusion that their houses were too small after spending a week shut in with their kids, their kids friends and whatever other extended family happened to be there before the roads closed.
It's going to be a heck of a Spring - but it can't come too soon!
All the best -
Barbara, Tom, Susan, Harrison and Ron
Long and Foster Real Estate, Inc
PS. Last week, I was lucky enough to attend, despite the snow, a fund raising luncheon for CHOICES, the Page County Council on Domestic Violence (a really, really good cause - if you are interested their website is Choices of Page County), which was generously hosted by Inn keepers Tom and Anita Potts at their gorgeous B&B, South Court Inn in Luray Virginia. The food was absolutely decadent and the house was just gorgeous tucked away in perfect spot to enjoy the beautiful Shenandoah Valley and Shenandoah National Park. A picture's worth a thousand words so I'll let their website do the rest www.SouthCourtInn.com .
PROPERTY INSURANCE
Recently we heard from a client who unfortunately had pipes freeze and break in the bitter cold last week. It started a conversation about homeowner's insurance claims and property resale. This has become a problem in the past few years as insurance companies are increasingly reluctant to insure both properties that have had claims or homeowners that have made claims. Yes, that's right, they get you twice. Say for example you make a claim for damage caused by a sewer backup and then decide to move two years later. Your purchaser may have trouble insuring the property even if they go to another company because the address is "tagged" in a national database. If they can get insurance, they may ask you to pay the difference in the premium, which can be as much as 200% higher than it would normally cost. You can always say no, but it certainly complicates the deal. To make matters worse, YOU may have similar issues getting insurance for the house you are trying to buy because the same national database tagged your personal information. And because part of the insurance application requires listing previous residences, having a spouse apply for the insurance doesn't work. We've tried. The "penalty period" for a claim is usually about 5 years.
The Maryland Association of Realtors has a helpful pamphlet on the subject helpful pamphlet. Of course the best advice you can get will be from your insurance agent. We refer Al Fuentes and Curt Sumpter at State Farm Insurance in Bethesda 301 657 2323 if you need a name.
I love the Fall. We always get a small upswing in the market of serious buyers and really good listings and all the Realtors are back at work full time, nice and rested from summer vacation. Kids are settled into the school year and the Holidays are coming. Good, good, good.
Interest rates, which dropped below 5% for thirty year fixed this month (!), are driving a fairly strong market. That, and the First Time Homebuyer Tax Credit I talked about last month seem to be working their magic. According to the National Association of Realtors, pending home sales have increased for seven straight months, the longest period since this index began in 2001. Interesting.
This Fall the office is running particularly smoothly too because we have a great new assistant working with us, Harrison Beacher. Harrison is taking care of our administration and some of our marketing. He's the guy that makes sure your open house ads are correctly placed and tracks our sales to settlement. Huge job but not so big that he hasn't had time to sell. TWO transactions of his own already and assisted on two more. He's really on the way to an outstanding real estate career. He's the handsome dude on the right in the new team picture.
Harrison is also helping bring us into the 21st Century with a minimum of trauma. He is twittering and blogging away on our website and on Facebook, keeping all of our listings fresh and in the public eye as well as digging out some fascinating real estate articles and information to keep us all abreast of breaking news, statistics, trends and the ever changing government programs that effect our industry. Maybe it's that 2008 diploma from Tom's alma mater, Georgetown University that makes him so good ;-) In any event, we welcome you to check out our website blog, friend us on Facebook or follow us on Twitter to see what we're talking about.
All the best -
Barbara and Tom
Long and Foster Real Estate, Inc
COUNTDOWN!!
Okay, we admit it. Realtors are always saying it's a great time to buy and sell when maybe, sometimes; it is only a pretty good time or not such a bad time... We are the Salespeople that Cried Wolf.
But right now the market in our area is very, very strong and it really and truly is a great time to sell a home. The reason for it: the First-time Homebuyer Federal Tax Credit is set to expire at the end of November and everyone and their mother is out trying to get something under contract in time for a November settlement. Of course, not everyone qualifies and it tends to stimulate homes under $400,000 which only makes up a portion of our areas home sales. But when a $200,000 condo sells, the owners move up to a $500,000 town house and those owners move up to an $800,000 single family home, etc. You get the idea. Stimulus.
So, two things you should know.
First, if you are even THINKING about selling your home, call us right away. Remember that a 45 day window for loan approval means that buyers are frantically trying to get themselves under contract before October 15th. The first time and move up buyers are out NOW - and bidding on everything they see. Our open houses are packed and we are getting multiple offers on many, many properties again. After October this is likely to slow way down.
Finally, we really believe that the credit has been a major boom to the real estate market in our area and hope it is extended. If you agree - and we encourage you to look into the pros and cons to make up your own mind - you might consider an email or phone call to your elected representative letting them know that you support an extension.
Oh! And to everyone that is happy with their place and has no intention of selling their home - we're glad! We probably sold it to you and that's what we like to hear...:-)
All the best -
Barbara and Tom
Long and Foster Real Estate, Inc
 |
|
|
Outstanding referral based real estate sales & service that puts the client first...no exceptions. Co-Team Leader with Tom Nalls, 17 years experience working with buyers & sellers in DC, MD & VA
Five kids, four fish, three dogs, two cats and one break out real estate career to support it all...Yes, they are all girls, yes they are teenagers and yes, that's a lot of college tuition. SOOOO if you wonder why I don't seem to mind working nights and weekends, you are looking at the answer!
Nalls Home Partners specialises in residential resale - which is a fancy way of saying we help people buy and sell the houses they live and play in - throughout the entire Washington DC Metro area - now, by popular demand, including Virginia too! We take particular pride in working in all price ranges and in every kind of situation: first time buyers, move up buyers, retirement and vacation buyers, listings large and small ...just about every year we have a sale over $2,000,000 and under $200,000. ALL of our buyers and ALL of our sellers can expect to receive EXACTLY the same service regardless of the number of 'zeros' in their price range - THE BEST AVAILABLE. We really mean it - if there is something we can do to improve - just let us know. Heck, we're even blogging now to keep our seller's listings exposed
"My good fortune in finding Barbara herself, of the many well-credentialed real estate agents in the Washington area, was evident from the moment we first spoke..... from the beginning, she was the consummate professional in all respects ? knowledgeable, attentive, thorough in every detail. I was especially pleased with how quickly she grasped my tastes and preferences, in both house styles and neighborhoods, and guided me to properties, any one of which would have been a "good fit." When we found the townhouse that was destined to be mine, her skillful negotiations and exceptional judgment culminated in a winning purchase in the most challenging of circumstances. My delight in the house, and in the extra-ordinary dedication and experience Barbara brings to her work, has only grown over time. She is commended with my greatest enthusiasm.
Julie W., Washington, DC
"I just wanted to write and thank all of you in the Nalls group for your help with finding this new place for me. Everyone on your staff was extremely patient and professional. I really enjoyed working with you and getting to know your team."
Matt G., Washington, DC
"Thank you for all of your help in selling my parent´s home. It was a very difficult time for my family and all of you were both understanding and professional in accomplishing the task at hand. We were appreciative of your analysis as to the real estate market in the Chevy Chase area and your suggested pricing of our house. In addition, we valued your input when offers were made. All of you were so helpful in obtaining the resources needed to "present" the house. I was particularly appreciative of your help in locating charitable organizations so that we could donate furniture that my family no longer needed. We could not have accomplished everything without the help that you and your staff gave us. Thanks again for a job well done!
Dena W., Chevy Chase, MD
"I just wanted to send you a note letting you know how much I appreciate all the Nalls team did in helping me sell my home in Rockville. Your attention to all the details and timing of the entire selling process was impeccable! Not once did I worry about the details or wonder if things were on track. You always gave me a heads up before I could even think to ask the question. Your presence at offer time and especially at settlement was greatly appreciated and was a source of comfort to me. During such a stressful and emotional time as it is selling a home, it was wonderful and comforting to have you and your team managing and supporting the entire process. Thank you for everything - I can´t tell you enough how much I appreciated having you in the picture.
Heather M., Potomac, MD
"I would like to commend one of your agents, Barbara Carnemark, for her outstanding work in helping us find our new home. Barbara worked with us for three months, showing us innumerable homes. She was always very upbeat, very energetic and pleasant. But more than that, she was knowledgeable about the areas in which we were looking..3;..We would recommend Barbara and her team to any of our friends. They aree is hard-working as well as a lot of fun to work with."
Claire N., Silver Spring, MD
"I wanted to thank all of you for your keen interest in really wanting to help people who are new to this area;. we are happy to be in our new place. A big thanks you all ; You are a great team!!!"
John D., Bethesda, MD
"I am writing to let you know how pleased I am with Barbara´s efforts to sell my house. She quickly sold my house for a reasonable price at a time when the market was very slow. I am delighted that she surpassed my expectations in this and almost every other regard. In addition, Barbara made the process seem manageable to me. I had lived in the house for almost 13 years and the idea of getting the house ready and actually moving seemed overwhelming. At each step, Barbara remained cheerful and confident. Her strong spirit carried the sale and me with it. Throughout, she was clear, direct and provided the expertise I needed to make the best decisions possible..... Barbara´s energy, commitment and sheer ability to sell make her an outstanding real estate agent. Barbara brought both an appreciation for the seller´s personal attachment to the property, the buyers´ needs and her own professional knowledge of the market to make the sale as painless as possible for all concerned. As you can tell, I cannot endorse her highly enough." Katharine K.
Katharine K., Chevy Chase, MD
"She has natural abilities to succeed that others must learn. Any client would be served by retaining Barbara. Any buyer can be sure that she will guide them with sage advice.
C.W. Owen, Broker, Pardoe Real Estate
"In early September we got word that one of the large townhomes in our development would be going on the market3;..we decided to go for it. After some fancy footwork and help from our fabulous real estate agent, Barbara Nalls, we were able to put a contract on the house before it even listed! Not only that, but we found couple looking to purchase their first home who made an offer on our house. We were able to sell the house without having to list it! It was an unbelievable experience.."
Helen F., Gaithersburg, MD
"I have had the opportunity to work professionally with Barbara Carnemark Nalls on countless occasions for the past twelve years. Throughout the course of our professional relationship, I have seen Barbara function in virtually every aspect of the real estate profession - as a buyer broker, as listing agent holding open houses and as the sellers´ representative and the buyers´ representative working with ratified contracts. Additionally, as Barbara and I share mutual clients throughout the many phases of the real estate sales cycle, I am privileged to hear our clients feedback with regards to Barbara´s level of service. I have found Barbara to be one of the most thorough, professional and responsible real estate agents that I have had the privilege of working with in the Washington D.C. area. I truly respect the level of mutual trust she shares with her clients3;this trust is paramount to clients making such tremendous investment decisions. Barbara consistently maintains a high level of professional standards and ethics that are critical to her unquestionable success as a realtor.
Deb Levy, Vice President, Bank of America Mortgage
"How can we ever thank you for everything you have done for us? You´ve been with us since the beginning and have witnessed the highs and lows. We often comment that we don´t know what we would have done without you. We´ve felt so fortunate to work with all of you3; Thanks for everything.
Rob F., Bethesda, MD.
"Thank you so much for all your help with our home selling and buying. We had a great time getting to know you and your team."
Dawn M., Silver Spring, MD
"I would like to take this opportunity to provide some comments to you about Barbara Nalls, who recently listed my house in Chevy Chase. I first met Barbara approximately two years ago3; at that time, I had my house listed with another agent3;. when it did not sell, I rented it and when the time came again to put it on the market, I called Barbara3; I must tell you, I have never worked with a more knowledgeable, aggressive agent, and I am not easily impressed. Barbara put an incredible amount of energy into my listing, holding open houses, ads in the paper, cross-referencing with other agents etc. In addition, she had the patience of Job in dealing with a demanding client (me), and a difficult tenant3; I will use Barbara again; I do not know what more anyone could do3;"
Glenn N., Chevy Chase, MD
"I want to take this opportunity to tell you how much we appreciated working with all of you when we sold our house;you gave us professional and expert advice; and accurately gauged the market. Neither myself nor my wife were at all familiar with the process of selling a home. Barbara and her team guided us through this process, protected our interests in the sale, and were always available to answer all our questions promptly3; it was great working with her and the Nalls team.
Alex K., Chevy Chase, MD
"Barbara was a wonderful realtor. She made the sale of the house we had lived in for 37 years far less traumatic than it could have been. She was very creative in her sales methods and generated unbelievable interest. Her hints for getting the house ready for sale were invaluable. Plus, she is a genuinely nice person."
Hal & Kay J., Bethesda, MD
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
