Another DC "Mid Century" Modern??

It's described as a "mid century modern" but it's really a rambler with some wonderful period details.   This is 4432 Sedgwich Dr., NW.  It's 2 bedroom with a possible 3rd if you throw in an armoire and 2 full baths.  It's 779K.  I love the original sunburst lighting fixtures in the entry and dining room.

I also love the Haywood Wakefield Eames furniture they have in the dining room.  Of course I'm partial since it's *just like mine!*  

Happy Friday!

Hubba Hubba

This is house porn at it's finest.  1300 Fairmont St, NW has 5 bedrooms and 6.5 baths.  It's listed for $1,599,000.  It's 5000 square feet and has 3 parking spots.  Yes, it's expensive but look at the pictures!!  This is the finest restoration/updated house I've seen in a long time.  I love the mix of original details and modern features.  Will it sell for this much in Columbia Heights?  I doubt it but it's going to be fun to watch.

PS-apparently everyone in the blogosphere is excited about this one.  See posts here and here.  Clearly I should have completed my daily reading before I wrote my post.  *sigh*

6 Ways to Help Your Property Sell

Last week, I wrote about one strategy that sells your house quickly:  price low.

Unfortunately, a lot of sellers in today's market don't have that luxury.  Here's a few tips that work in this tough market.

1. De-Clutter.  I know you love your collection of _____ (insert any collection) and think it's an interesting feature.  It isn't.  Box it up and utilize that space in a way that's appealing to buyers.  Take your appliances and knick knacks off the kitchen counters.  Put away your beauty products in the bathroom.  Take down the magnets and photos on your refrigerator.

2. Re-paint in neutral colors.  Red kitchens and dining rooms are so 2000.  Don't date your decor with bold colors.  Buyers are pickier than ever and one terrible paint color can make them delete your property from their search.  A tan/beige neutral is the top choice for most buyers.  Boring but tried and true.

3.  Clean extensively.  Nothing is worse than a grimy bathroom or kitchen when you're viewing property.  Hire a cleaning service if necessary.  Your property should sparkle.  Also keep your place tidy while it's on the market.  Make your bed.  Put away your soiled clothing and clean laundry. Hang up your coat and put away your shoes.

4.  Rearrange/Remove your furniture.  Most sellers have too much furniture in their space.  If you have belongings in every single corner, get rid of them.  If it's over sized and making your space look small, store it for your next place.  Rearrange your furniture to make the space open and inviting.  Open your blinds/curtains to show the view and the sunlight.

5.  Make sure it smells good.  That old man/sock smell is not making your place more attractive to a buyer.  On the other hand, you don't want to go over board.  Strong, floral plug-ins can make buyers suspicious.  The most appealing scents are cinnamon/apple, vanilla or citrus scents.

6.  Take good photos.  Use a professional photographer for photos of your property.  "Homes with professional photographs were found, on average, to be viewed 61 percent more online than others in that price range shot with a lower-end camera. The listings that used digital SLR cameras also commanded a 47 percent higher asking price per square foot, according to the Redfin analysis."  The stats speak for themselves.

A little prep work goes a long way when you're putting your place on the market.  Good luck!

Quote in #6 from "The Better the Property Photos, the Higher the Sale Price."

Credit Scores Make or Break Your Mortgage

I often tell my buyers the hardest part of buying real estate today is getting through the loan process.  Your credit score, assets and debt to income ratio are more important than ever.  As anyone can tell you that's purchased recently, it's almost like being reviewed for a CIA job.  You must be able to provide extensive documentation for every iota of your finances.  If you receive a "gift" to help you with the down payment, the person giving you the "gift" will have to write a letter and provide account documentation to the lender.  Perhaps this is the way lenders did business before the financial crisis.  Since I started in the real estate field in 2005, these practices are a major shift from the way business was conducted.

In today's Washington Post, there's a great article that focuses on how lenders have changed their practices in light of the financial crisis.  As the economy and the real estate industry continues to evolve and heal, it's imperative that buyers and sellers keep up with the constant revisions in the lending world.  Otherwise, your real estate transaction is going to be a bumpy ride.  

On a less serious note, Happy Halloween!!!  My "guidette" costume was a success and I had a ball at a Halloween party last night.  Unfortunately, no one had a camera so it wasn't recorded for posterity.

Profile in the Washington Times!

I was profiled in The Washington Times today!  As you can tell by the number of exclamation points, I'm excited. 

Don't you love my "professional" picture?  I wonder what would happen if I'd sent a photo of myself in my "guidette" costume for Halloween?  That would be pure entertainment.

I digress.  Check it out. 

Secret to Sucess: Price Low

Have you ever noticed the common denominator in all the listings that have multiple offers?  They're priced low to sell fast.

The latest hot listing is 1307 Corcoran St, NW.   (Sorry the picture is so small.  There was no photo with the listing and Google Map can only do so much!)   It was priced at 550K!  Most homes in this area sell from $750,000 to $1,500,000.  One of my agent friends was submitting an offer for clients and it had ELEVEN  THIRTEEN offers.  It still isn't ratified.  I'm so curious to see the final price.

(I heard it went for between 600-650K and needs about 500K of renovations and updates.  Considering it'll probably be worth over $1,000,000, that's still a good investment!)

Note to all sellers:  if you have the ability to price low, this is a tried and true method to multiple offers in desirable DC neighborhoods.

NYC Retrospective

NYC was a much needed respite.  Most people would think: hectic city crawling with people?  Refreshing?  To a city lover like myself, yes.  It was absolutely lovely.

My friend's apartment is in Nolita.  I knew *in theory* what this meant but when we arrived it became clear.  It was a kick ass location.  Shops and restaurants galore within blocks of the apartment.  This was going to be fun!

By the time the we arrived, picked up keys and located the apartment, it was about 3pm.  I had a couple of shops I wanted to check out so off we went.  I've been reading about Uniqlo on the fashion blogs for years. It's the first place we stopped.  It's described as a Japanese H&M and it was mobbed with people.  They've partnered with Jill Sander in 2010 and are putting out an incredible collaboration called +J.  It has beautiful, clean lines but all of it was teeny tiny.  It's made for the small, petite people of the world.  I might be petite but I'm certainly not small.  After petting all the +J clothes and checking out a few other shops, we realized it was time to get moving for our dinner reservation at 15 East.

15 East  topped our expectations.  My husband, who is a notorious nit picker when it comes to restaurant reviewing, had "the best sushi experience of his life."  Considering the amount of sushi he's eaten in his life, that's high praise.

Our next stop was Milk Bar which is the dessert arm of Momofuku.  My husband is obsessed with all things Momofuku and it's infamous chef David Chang.  We shared a piece of crack pie.  There's a reason it's called crack pie.  You want eat MORE even though it's really rich and making you slightly sick to your stomach.  After the crack pie, we wandered down the street to Bar Veloce for some wine and then headed back to the apartment.

The next day, we got up at the crack and ambled uptown to Eataly, a 50,000 square foot store of Italian goodies.  Pictured below is the fresh pasta counter.  That was a small portion of the options.  It was incredible, mouth watering experience.  We wandered the store, drank coffee and wished for one in DC.

On the way back downtown, we stopped at ABC Home and Carpet.  This is another store I've been reading about for years in design magazines.  It blew my mind.  I found a rug I first glimpsed in Lonny Magazine and a million other things I wanted.  It's fun to dream!

Then we hiked back to Nolita for our reservation at Lupa.  After walking over two miles, we were both hungry and Lupa didn't disappoint.  After a leisurely lunch that included wine and lemoncello (hello..I was on vacation!!), I was done.  It was nap time.

Refreshed by my nap, I continued to meander the streets of Nolita pretending I was a New Yorker.  I had a drink at DBGB, checked out more shops and canceled the reservation at 'inoteca.  After seeing the hubbub at Milk Bar, which is connected to the Ssam Bar, we decided to check out Ssam Bar instead.  It too lived up to the hype.  Although Korean food does not agree with me and that curtailed the rest of our evening, I still enjoyed the experience.  It's not everyday you see bunches of people gnawing on duck necks and hoovering pork buns. This is the best pork bun I've ever eaten and it's not to be missed.  (Last bite of the pork bun about to be devoured by my husband pictured below)

Overall, the weekend was a roaring success.  I only thought about real estate once.  When we were trekking back to Nolita for lunch, we passed a real estate office.  I had to stop and check out the listings.  Professional curiosity.  This is what I found: 

No wonder New Yorkers never blink at DC prices.  A 600 square foot studio for 825K????? That's insane!

It's good to be back in DC.