Ken Montville -- the MD Suburbs of DC

For some odd reason, some of my listings are seeing a big spike in showing activity. I'm trying to figure it out. I know there are a few reasons:

• it's spring
• it's Daylight Savings Time
• there's an $8,000 first time home buyer tax credit out there waiting
• mortgage interest rates are low
• buyers getting tired of viewing "as is", trashed out "short" sales and foreclosed properties (my listings are in the micro-niche of Sellers With Equity)
• the prices have stopped falling through the floor

Who knows? All I know is that there seems to be more showings on my listings in the last two weeks than they've had in the last 4 months. I'm certainly very happy about that. My seller clients seem to be mildly encouraged.

Now, wouldn't it be great to get a real live offer on a few. I know the rule of thumb is that for every [x] number of showings there comes an offer. That's why I'm excited about the increase in showing activity. It means someone wants to buy a house.

Are other people out there in the Rain experiencing an uptick in the activity if not outright sales?

I've been working with some buyer clients recently that don't qualify for a whole ton but they do qualify. You'd think with house prices down the way they are you'd think there would be be a few homes out there. Well, as a matter of fact, there are quite a few homes out there in my clients' price range. The problem is they're mostly "short sales". Sure. Some are bank-owned, some are even owner owned where the owner has a little equity.

By and large, though, most are in terrible condition. Even the ones that have sellers that have equity have let the house got to the dogs and they have zero interest in doing anything to the house that might make it attractive, let alone stand out from the crowd.

The thing is, these particular buyer clients don't have the time to wait for a short sale to work through the system. The may actually end up back in the rental market but the sad thing is that there is plenty of homes in their price range but they look like hell or will take six months to buy.

There is something wrong with this picture. Sellers with equity should at least make a token effort to clean up the place and banks really should let the the inventory go. Everybody talks about helping "Main Street" and "the Middle Class". I don't see it.

In the ever more desperate search for someone, somewhere to build a brand new, shiny stadium for his personal, professional soccer team, DC Unitied, mult-millionaire Victor MacFarlane has come to Prince George's County.

Although both Washington, DC (the DC in DC United) and Virgina have turned down the deal, Vicotr MacFarlane knew where to turn when the chips were down - good ol' Prince George's and the Maryland Stadium Authority.

Let's set aside, for the moment that we are currently in an economy that has alternately been called a "disaster" or a "catastrophe". Let's leave aside, for the moment, that FedEx Field, home of the Washington Redskins (there's that Washington, DC reference, again!) is not the profit center it was made out to be. Let's juts think, for a moment, about how this is going to be paid for.

It seems that the Maryland Stadium Authority is going to step up and sell some bonds. Of course, this assumes that the MD Legislature agrees.

Now, let me think. In an economy where the financial services industry is crying the blues to the tune of several billions of dollars and wringing their collective hands that "the credit markets are forzen", does anyone really think there is a market for stadium bonds? Does anyone think that there will be a flood of economic activity around the construction and completion of this stadium? Does anyone know where the money is going to come from to re-pay the bonds (assuming their sold at all) if DC United and other stadium tenants can't come up with the cash? (Hint: people who pay taxes)

I wrote about this at some length on another blog stating a number of reasons I think this is a terrible idea.

Instead of putting taxpayers at even more risk just to line the pockets of the super wealthy, why not start thinking of ways to help the thousands and thousands of Prince George's homeowners in danger of losing their homes? Why not think of ways taxpayers can build or repair schools and roads? Beef up public safety? Enhance the education budget?

Prince George's needs a soccer stadium....NOT!

Just sayin'.

I guess I really shouldn't be surprised.

I must've been involved - either as a listing agent or buyer's agent - with about 300 houses over my short real estate career and that doesn't count the ones that I visited with my buyer clients while they looked for the "perfect house". Or the ones that fell through. Or the listings that ended up not selling for any number of reasons. It doesn't count the houses I've previewed to get an idea of the neighborhood and what a buyer client might be looking for or a seller client might be up against as competition.

However, it never fails (with rare exceptions) that when I show up for a listing appointment or consult with a Seller about an offer that's come over, their personal home is "special". It doesn't matter if it needs a new roof or if the appliances are the same ones that came with the house when it was built in 1954. It doesn't matter that the shed in the back yard where the owner tosses all his "extra stuff" or the lawn mower looks like it belongs in the hills of Appalachia.

Asbestos floor tiles, twenty year old HVAC sytems, underground oil tanks, pink or tourquoise bathrooms. Oh, and let's not forget the clutter. All the special stuff that has been accumulating over the decades. Stuff that the owner might use someday. Or just can't bear to throw away.

No matter how hard I try to put things in perspective - the market has tanked, the modern day (2009) buyer is in control and they like granite counters, stainless appliances and family rooms the size of NBA basketball courts - the Seller's house is still special and, oh by the way, their neighbor sold their house for $100,000 more just last year. (repeat: last year).

So I go in with all the comps - Active, Pending and Sold. I explain how short sales and bank owned homes are pulling all the prices down. I talk about buyer preferences. Still the Seller wants more.

So, now, I actually offer to pay for a full blown, licensed appraisal performed by a real, licensed appraiser. I can recommend one or the Seller can choose their own. Either way, I'll pick up the tab. The only catch is that the Seller needs to agree to adjust the price to meet the appraised value.

I figure it beats the cost of advertising in nearly defunct print magazines and might even make the home competitive. For me it's a baseline. I still know that Buyer's are going to come in with low ball offers and huge closing costs requests. At least, this way, I'm out of the price discussion and the Seller has heard the truth from someone who could really care less if the house sells this month or five years from now. The appraiser's been paid and is on their way.

Maryland has been an asbestos hot spot due to thriving power plants, paper mills and ship yards. These industries utilized asbestos throughout the 20th century due to its fire resistant and durable qualities. Homes built prior to 1980 still maintain the chance of containing asbestos materials.

Unfortunately, asbestos cannot be seen with the naked eye. The home is not only a financial asset, but a place to live and raise your family. It is especially important for home owners or those seeking to buy or remodel older homes in Maryland, to determine if any health damaging materials are present. There are now green alternatives that allow for a safe and healthy home.

Although not all asbestos is considered dangerous, wear and tear can cause its fibers to become airborne, where one will inhale its damaged fibers. This can potentially lead to the development of health ailments such as asbestosis and mesothelioma, a rare form of asbestos lung cancer. Mesothelioma metastasis can occur when the illness spreads through the lymph nodes or the blood stream. This occurs in its later stages as it can take anywhere from 20 to 50 years for mesothelioma to develop, making it extremely difficult for physicians to accurately diagnose this disease.

Manufacturers of asbestos knew of its harmful qualities, but continued shipping the product anyways. The amount of incidents related to the asbestos scandal joined with the innocent fatalities has lead to mesothelioma lawyer firms advocating victims’ rights.

Home owners should hire a certified inspector to determine if any harmful materials are present and what the best course of action should be. Your family’s protection comes with knowing what you are dealing with and handling it in a responsible manner. If the inspector determines that a removal is needed, they must be performed by a licensed abatement contractor who is trained in handling dangerous substances. This process requires professional care and protective equipment. The Maryland Department of the Environment assists citizens in the inspection, removal and disposal of asbestos and other toxic qualities.

Once the process is complete, replacement options should be considered. These include cotton fiber, lcynene foam and cellulose. Not only do these healthy substitutes provide the same qualities as asbestos, they can even reduce annual energy costs. The United States Environmental Program states that the use of cotton fiber can reduce costs up to 25 percent. These options allow for a safe, environmentally sustainable home, free of any health corroding materials.

-- illistrration used by permission of Asbestos.com