Here is a quickie overview of what is happening in one little part of Silver Spring.  The zip code - 20901 - takes in a large area including such hot spots as:

• Four Corners (a great, older community with lots of trees and close to the commuter routes)
• White Oak Shopping Center
• the new Food and Drug Administration (FDA) office facilities
• Westfield Wheaton Shopping
• the Wheaton METRO station
• Sligo Creek Park (great for biking and walking)

So….What’s going on in the real estate market?

It’s still not a pretty picture. However there seems to be signs of improvement:

• Median Sales Price is moving up slightly.
• Days on Market seems to have stabilized a bit. It’s still a long time but, at least, it’s not getting any longer.
• Inventory is getting bigger — this is the number of homes currently on the market. This means more people are feeling good about selling their homes.

Every wonder if it will ever stop raining?  Ever wonder how it might affect the sale of your house?

I can tell you from personal experience that this prolonged period of rain is no help whatsoever when you’re trying to sell your house.  I’m challenged from day to day to keep my grass mowed neatly and the garden area from looking like a jungle gone wild.  It’s not an easy task.  My back yard has a small slope and because of the clay soil that is so prevalent around here it is not draining fast enough before the next rainfall begins. That makes for some tall grass.

Here are some other challenges that you may be facing that could slow down the sale of your home:

• wet basements — people sometimes get a bit nervous when they see a sump pump in the basement but I’m always glad to see it.  If the sump pump is working properly that means the basement is being kept dry.
• leaking roofs — if there was a problem with the roof this weather will bring it out.  If the roof was “on the edge” of needing repair or replacement this prolonged wet spell is going t tell the tale on whether or not a new roof is in order.  This is a big ticket item but vitally important to the sale of your home.
• soggy yards — this is my problem and it could be worse if the water didn’t actually drain completely away after a day.  No one likes a yard with puddles and they could be a danger sign for mosquitoes and other annoying critters.
• window condensation — this is what happens when double paned or triple paned windows get a small pinhole in them allowing the humidity to create condensation between the panes.  This shows up as “foggy” windows and there is nothing that can be done but to replace them.  Typically, windows that have this type of condensation problem won’t have any effect on the energy efficiency of the window.  It’ll still help maintain the temperature inside the house.  People are funny, though. They like to be able to look out their windows and see the outside.
• gutters and downspouts — if they need repair or if they need to be cleaned out this would be the time to do it.  Gutters clogged with leaves and debris are bad news for your roof or siding.

These are just some of the challenges.

One more, that really doesn’t have anything to do with your house, as such, is just the fact that hardly anyone likes to trudge around in the rain to look at houses.  It’s wet and messy and you can’t spend a lot of time looking around in the yard or at the exterior of the house and neighborhood.  Not to mention, that if someone is out looking at houses, they’re going to be trudging through your home with their wet and muddy shoes, dripping umbrellas and soaked rain gear.  Not pleasant.

When Jan and I first moved into our home in Glenn Dale there were some arbor vitae that were blocking the natural light that would have come into our home.  There were also some trees that were obviously dead but still standing.  We really didn’t know who to call so we went to the Internet looking for a local tree service.  Luckily, we came across Adirondack Tree Experts located in nearby Beltsville, MD.

It turns out that the folks at Adirondack are extremely knowledgeable about trees and shrubs of all kinds and truly expert about trimming, removal and re-planting.  They came by that first year we were in our home and took care of some tree work for a very reasonable price.  Some years later, after a particularly bad storm, a 30 foot plus pear tree toppled over.  I’m thankful it didn’t crash into our garage.  Adirondack came out to dispose of the tree and grind the stump so we would have a nice, level lawn.  The next year they came out again to trim out another tall pear tree and grind another stump for a Rose of Sharon Jan had cut back because it was blocking access to our garage.

All in all, these folks have done a fair amount of work for us over the years and we’ve always been pleased with the end result of their work.  They know their stuff, their prices are extremely reasonable, they’re licensed, bonded and insured …and they cover the MD Suburbs!

On June 10, 2009 Johnny Isakson, R-Ga, introduced legislation that would expand the current $8,000 tax credit for first time home buyers. The new legislation would increase the maximum amount of the tax credit from $8,000 to $15,000. Unlike the current tax credit, it would not be limited to first-time home buyers. The proposed legislation would also eliminate the current income caps of $75,000 for an individual and $150,000 for married couples. The legislation would also extend the tax credit which currently expires on December 1, 2009 to one year from the date of enactment and would allow home buyers to claim the credit on their 2009 tax return for purchases made in 2010.

“The first-time home buyer tax credit has made a difference. First-time home buyers used it and the market stabilized, but we don’t have a recession in first-time home buyers. We have a recession in the move-up market,” Isakson said. “One of the biggest problems facing the American people today is an illiquid housing market, a decline in their equity, a decline in their net worth and a depression in the housing market that we are obligated to correct if we possibly can.”

“The man who is transferred from Missouri to Georgia can’t sell his house in Missouri, can’t come to Georgia and can’t take the transfer. His employer can’t afford to buy the house and hold it for him because of the proliferation of inventory that is owned,” Isakson said. “Today, in the United States, one in two sales made every day is a short sale or a foreclosure. That is an unhealthy market, and it is continuing to precipitate a downward spiral in values, loss of equity by the American people and a protracted, difficult economic time for our country.”

The proposed legislation immediately picked up a bipartisan group of co-sponsors for his legislation, including:

• Senators Lamar Alexander, R-Tenn.,
• Jim Bunning, R-Ky.,
• Saxby Chambliss, R-Ga.,
• Chris Dodd, D-Conn.,
• John Ensign, R-Nev.,
• Joe Lieberman, ID-Conn.,
• Lisa Murkowski, R-Alaska,
• James Risch, R-Idaho, and
• David Vitter, R-La.

To view the press release: Isakson Continues Push to Stimulate Housing Market

This legislation could have positive effect on real estate sales in 2009 and 2010. I will continue to monitor the progress of the legislation and keep you posted on it’s progress.

Thanks to Alan Gross of National City Mortgage for staying on top of this issue and sharing.

This program is not acutally up and running yet.  It is in the works.  However, the fact that it in the works is promising and potentially highly beneficial to military homeowners who are being deployed to other areas through no fault of their own.  As we all know, when you sign up to serve ou country in the military you pretty much have to go where they tell you to go. Normally, this is no big deal for homeowners…except for now.

Home prices have declined dramatically and many homeowners are in negative territory where there equity is concerned. This might not be a huge concern to homeowners that have the option of staying put.  My own situation is like that.  I enjoy my home and neighborhood and have no intention of moving anytime soon.  This is not an option for many military homeowners.  They may have bought three or four or five years ago only to find out the military is moving them out.

What to do?

Homeowner Assistance Program

The Army Corps of Engineers has been tasked with administering a program that can help military personnel make up the loss in their equity.  It also helps with the Seller side of closing costs including the Realtor’s fee. So, in effect, the Army is encouraging people to use a Realtor to sell their home.  The Program is called the Homeowner Assistance Program and it can be just the lifeline military homeowners need in order to sell their home and essesntially “break even”.  This is a huge benefit considering that, for many home sellers, the alternative would be to try and get a “short sale” approved by the mortgage company that holds the mortgage on the house.

A “short sale” would be devasting to military families, in particular, since it would destroy their credit and jeopardize any clearance status they may have now or want to get for job advancement. It would also crush their chances of obtaining another mortgage in another area anytime in the near or intermediate future.

There are lots of little details and the extremely important thing to remember is that, at this writing, the Army Corps of Engineers is still awaiting the final regulations to be handed down before they even begin processing applications for the program. It would be a good thing to get started, though.  So, if you are in a military family it might be a good idea to visit the website and download the application.  When it happens it’ll be a good deal!

If you have questions about this program you can shoot me an e-mail or call at 240-417-9100.  Remember, it isn’t finalized yet but it is on the way.  I may be able to help.

This month the Spotlight shines on —George and Millie Tansill

I met George and Millie several years ago through the magic of the Internet when they were about to buy their first home. It turns out o be some of the best Internet marketing I’ve ever done because George and Millie are great people.

We went on, together, to buy their first place and a few years later, when they decided they wanted a slightly bigger place, they called me again! Some more years went by and Millie got a great job opportunity in Hawaii so they moved away for awhile and rented their home to George’s sister. When they relocated back, George and Millie referred me to his sister and brother-in-law and a long-time family friend.

Long story short. George and Millie bought and sold and bought homes with me and referred their family and friends over the span of many years. Sure. They could have tried someone new or “forgotten” about me but they didn’t. The best part is that they are fantastic to be around. George, and the entire family, generally, have a great sense of humor that some may say is, er, ironic. Millie is warm, caring and funny.

Thanks, George and Millie!

Good news for people who want the answer to the question: “What’s the Real Estate Market doing?”

I recently hooked up with Altos Research to provide real time real estate market data for ten zipcodes in the Maryland Suburbs of DC.  So if you’ve been wondering what’s going on…

• Beltsville, MD - 20705
• Bethesda, MD - 20817
• Bowie, MD - 20715
• Bowie, MD - 20720
• Burtonsville, MD - 20866
• College Park, MD - 20740
• Greenbelt, MD - 20770
• Laurel, MD - 20707
• Silver Spring, MD - 20901
• Silver Spring, MD - 20904

All you have to do is click on the link and go from there!

It goes without saying these days that the Realtor who does not embrace technology will be replaced by the Realtor who does.  Compared to the way Realtors used to interact with their clients in the “olden days” and the way Realtors interact with the Internet Empowered Consumer (whether they are a home buyer or home seller) of today is like night and day.

The Internet has made all kinds of information about real estate, generally, as well as specific neighborhoods and homes available to anyone who wants to obtain it. Virtual Tours let you take an inside peek at most homes while the average home buyer is still in their jammies. Almost anything is available 24/7/365 from the comfort of your own home.

That’s what I constantly try to stay on top of new technology trends as they hit the street.  One of the ways I’ve been doing that recently is by attending REBAR Camps.  These are quasi-formal (mostly very informal) education conferences that provide a place for people to share knowledge and techniques with emerging technology as it relates to the real estate profession.

As I write this blog post, I am staying at a hotel in the City of Brotherly Love — Philadelphia — resting up from an evening of talking with real estate professionals and technologists from across the country at the requisite Beer with Bloggers.  Tomorrow is the nuts and bolts day of sharing what is new and wonderful to help us as real estate professionals interact more effectively and more efficiently with our clients.

The real beauty of the REBAR Camps is that the information comes from my peers — other real estate professionals, just like me — that use this stuff everyday in their own real estate practice.  Sure, there are a few specialists.  For example, the people from Altos Research who are providing the real time real estate market research (check out the Marktet Trends link in the navigation bar at the top of the page or the form on the right side over there).

It’s a great time to network and a wonderful way to stay ahead of the curve.

Beltsville, MD is the home to a diverse community that includes a sizable commercial sector, single family homes, condos and townhouses.  Beltsville is also home to the US Department of Agriculture Research Center (ARS) with thousands of acres of research farms for both crops and livestock.  Beltsville is also one of the few towns in the area to boast its own home town newspaper, The Beltsville News.

Beltsville is located just a few miles from the University of MD and the College Park and Greenbelt METRO stations.

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Here is a snapshot of what is happening in the real estate market in Beltsville, MD.  If you would like a more detailed report just sign up on the form to your right and click on Beltsville - 20705 in the drop down menu.  The report will be e-mailed to you for FREE!

If you’re interested in learning more about Beltsville and the surrounding area in the MD Suburbs of DC, give me a ring at 240-417-9100 or send me an e-mail.

I recently had the pleasure of chatting about what Real Estate IQ is and what it takes to get it.  The occasion was a segment on Blog Talk Radio with host Juliet Johnson.

I first met Juliet through this very blog.  She commented on a post I wrote about home staging.  Being an extraordinary home stager herself, she had a nice comment on my post.  Since then, I’ve met her again in Real Town and Active Rain — both real estate centric blogs — as well as Twitter.

To be honest, this was my first appearance on any kind of “talk” forum.  Most of my stuff is written. It was a lot of fun, though.  I shared the segment with Robert Northfield, a mega Realtor in New Jersey near NYC. He had a couple of things to say. I had a couple of things to say.  Juliet guided the conversation along and really put me at ease.  I have no clue as to how many people listed to Blog Talk Radio but, for sure, you should.  Why not?  Plus, there’s lots of other interesting stuff on there, too.