I'm famous!

Well..sorta famous. Cork was featured in the April issue of "Food&Wine" and my husband and I are in the photo. (Me in the red shirt).

As you can tell from my blog roll, I have some eclectic interests. I think this is exciting because I really love when local restaurants get great, national press. I'm not a regular at Cork. We tend to gravitate towards Vinoteca because it's closer to home. But isn't this exciting?!

This has a trickle down effect for the hood. More national buzz means more local buzz for neighborhood joints. That means more interest in living in a cool neighborhood that has yummy places to eat and drink. That means a better return on my real estate investment and one content property owner.

Oh yea..Happy St. Paddy's Day!

Correction

In my post "What in the world?", I made a comment about the 6% seller subsidy credit in the second offer that was incorrect.

FYI for all you buyers out there: FHA loans DO allow a 6% seller subsidy credit. If you're using a conventional loan, a 3% credit is allowed.

Blogs you should be reading (besides mine!)

Recently, The Washington Post started a real estate blog called Local Address. It's written by Elizabeth Razzi who has contributed to the Real Estate section for many years. There's a lot of blogs about real estate but they all have different approaches. Razzi does a good job of covering the local market but also addresses national statistics without boring you to death. Her latest post, Prices Down All Around is really, really interesting. The numbers in DC vs. VA vs. MD give you a good idea of what's happening in the market. I tend to focus on the market in DC but I love being in *the know* about MD and VA.

Urban Turf launched this summer and it's readership has grown quickly. It was just named by Washington City Paper as one of the best real estate blogs. They have a number of features that I really enjoy like Neighborhood Profiles and the Best Open Houses This Weekend. Sadly, my lovely blog didn't make the cut at Washington City Paper. I'm outraged! lol. I think three people actually read my blog.

My favorite blog is Prince of Petworth. He focuses on many of my favorite DC things: new restaurants and bars, architecture, and neighborhoods. His commentary is generally snarky which I think is hilarious.

Make sure you bookmark!

What in the world?

As you know, I have a listing at 5304 Illinois Ave, NW. We lowered the price dramatically from 275K to 235K because my seller needs it to move. And we've gotten 2 offers as a result. YEA!! Right?? Um..no.

Apparently, if you're in this price range in the DC market it's a clear indicator to buyers that they MUST low ball you..to death.

Let me remind you before I go further: this is not a foreclosure, short sale or estate sale. It's a house that needs a lot of work but is livable. A thorough cleaning and some new paint would need to occur, but livable.

The first offer was all cash (yea!..quick closing) for 149K. WOW. 86K off list? We countered at 220K. My seller has an idea of what she'd like to get and we know everything is negotiable. Their counter? 150K. Yes..you read that correctly.

Our second offer was 180K with $12,500 in closing costs , a home warranty from us and they're using an FHA loan. Did I mention this house is "as-is"? Have I also mentioned that banks DON'T ALLOW a closing cost credit higher than 3% of the purchase price? But, I take every offer seriously. We're countering.

I'm writing about this because I hadn't experienced this market. I'd read about it. I knew sellers were hurting. But this..this is appalling. My seller is in the position to wait for an offer that she finds appropriate. This is her Aunt's house and she's selling it to fund the rest of her life in a retirement home. She feels a responsibility to get the best possible price. But there are sellers out there that HAVE to take one of those offers. Ugh. Let me wipe the slime off my face.

Maybe I'm being too idealistic. Maybe we will have to accept one of these offers. But bluck.

Life as an agent in 2009. Wahooo!

Happy Valentine's Day!

Happy Valentine's Day! I know I'm a day early but I'm working tomorrow so I won't have time to post anything. I hope everyone enjoys President's Day on Monday too. It's always nice to have a long weekend!

1221 Harvard St, NW #1&2 will be Open this weekend from 1:30-4pm on Sunday.

25K Price Reduction at 1221 Harvard St, NW-Open Sunday!

The heading says it all: we're reducing the prices of the two condos at 1221 Harvard St, NW by 25K and we're having an Open House from 1:30-4pm this weekend.

If you haven't stopped by these units, you should check them out. Unit #2 is my favorite for a couple of reasons: Master bedroom suite on the 2nd floor, the Master bath is a spa bathroom with a walk in shower, and the ROOF DECK. I love to entertain so I always envision lots of parties on the roof deck. There's even a gas hook up for a grill! And they placed the 1/2 bath of the top floor so guests can use the bathroom without having to visit the Master bath or go downstairs.

Fixer Upper in Petworth

I have a new listing! It's a row house in Petworth with 3 bedroom and 1 bath. It has the original hardwood floors and they're in great shape. The rest of the house..not so great shape. The kitchen and bathroom need a total gut job. All of the rooms need some repair. BUT we've priced it according to it's condition. It's 275K, it's not a short sale OR a foreclosure. It's perfect for somebody who likes a challenge. It's also perfect for an FHA 203K loan. Houses that have been updated in the neighborhood are going for 300-350K. It recently was appraised for 300K for a reverse mortgage that didn't work out. Please contact me for more information.