Georgetown, Red Hot Chili Peppers! Lattes (Ice Cold)

Red Hot Chili Peppers

So I'm headed downtown today and it's insanely hot in DC, no I mean seriously its 

Muy Caliente!!!  

As a true Washingtonian we say "welcome to DC the day after Memorial Day." Here comes the dog days of summer but with the heat comes the fun in Washington, so much to do and so little time. The warmth of the sun brings out the best in everyone; smiles, sunshades, cool dresses and fabulous sandals and Georgetown is no exception. The vibe is amazing and the buzz of the city abounds all around you as the day gets under way. People are everywhere men, women, children. People on the street, from the gentleman in the skinny Versace Suite to the den mom #fashionista wearing the incredible pair of Espadrilles and cute Maxi Dress. Who do you identify with? Or perhaps you're somewhere in between. Either way Georgetown is the happening spot! People not only live here, they work here! Whether in Washington Harbor on the waterfront, or a little further up in a boutique shop off Wisconsin Avenue between M and Glover Park. Somewhere in the mix of it all are the hideaway neighborhoods that flank all the excitement. So here comes the latest on the real estate market in Georgetown Washington, DC.

But wait.... I can't get it started without first stopping in to one of my favorite spots in Georgetown, Dean and Deluca's.

Dean and Deluca Georgetown Washington, DC

Time for an iced latte!!!

 



Is the Georgetown market heating up along with the temperature?

Absolutely!! This is a hot market for sellers!! Your values have soared over the last 5 years and are continuing a steady climb. Year over year Georgetown is recognizing a 8.24% increase in sold dollar value for units. While the values go up up and away, the average days on market are down month over month by 46.09%. Wonderful news and a perfect storm to list your home for sale now and realize your equity.

Adding to this wake in the market is the Average Sold to Original List Price topping out at 98.93% overall.

This chart is for attached homes in Georgetown. What type of home do you live in? What is the dollar value that you would like to get for your home? How many days on market do you want it to take from list to sell? What about your living square footage, how does that affect the Average Sold to Average List Price? If you would like answers to these and many other detailed questions inbox me. I take a look at the market detailed from your homes perspective not the general market place. Free Real Estate Reports available 24/7. 

Find Homes for Sale in Georgetown

Visit my website to search for homes in Georgetown or to be notified when homes in Georgetown come on the market.

To find out what you home is worth in the current market email me or call 202-438-1056.

DC Metro RE Gal!

Join me in a cool Cup of Joe over the summer. Be sure to share with me your favorite coffee shop in Georgetown along with a picture of you as you enjoy it!

Urban Trendy Entrepreneurial and Smart

Working from Home Can Be a Joy

Acquiring an Workplace Condo: 
A Excellent Option for Many

Financing

Even though getting a workplace apartment can be expensive, it is usually a better option economically than renting an office space and assuming additional overhead. Financing a your principal residence and using it as a home office is a win win because of tax advantages. With the rise in short sales and foreclosures we have seen the return of 203k Loans. These loans allow for financing to be used to cover improvement expenses and settlement expenses.   In an earlier post we have referenced the benefits of these type of loans. Read….

This type of financing makes it possible to receive monies to help with some closing cost as well as get financing to renovate and upgrade the property you are purchasing. Essentially when you set up a home office you get your business to pay you rent and thereby increase your financial position in the positive month after month and year after year.

Monthly Costs

Purchasing really is advantageous in these instances because the per month home mortgage ends up less expensive than the price of renting. As well, if you have a fixed-rate mortgage, your per month mortgage outlay is consistent, whereas with renting there is always the possibility of rental increases over a 6 month or annual basis.

When renting, you are subject to market changes, cost of living increases and the management company passing on their ever increasing cost in maintaining the rental property. All these expenses are passed on to the renter and are deemed as justifiable rental increases. Many rent with the idea that it excuses them from any responsibilities to the home. Always free to call the landlord and/or rental management company. Check the fine print. In many cases the renter is responsible for some plumbing issues, lawn and shrub maintenance and minor mechanical issues that arise.

How can one avoid these SURPRISE FEES?  A fixed-rate mortgage, amortized over thirty years which will be lower than most rents and has numerous tax advantages. What are the advantages?

Tax advantage

Let us enumerate them and then allow you to do some additional research.

1. Mortgage Interest can be deducted. Check with your financial adviser as to the extent to which you can do this, in most instances it is a 100% write off.
2. Maintenance can be deducted. The amount of space that is written off in the home is a match to the amount you can claim in deductions of various fees, such as but not limited to maintenance, lawn care,  electrical usage and the list goes on. Your financial adviser will give you additional details that match your particular portfolio.
3. Renovations  can be deducted. How do the renovations affect your office space, the ability for you to do business and your clienteles greater use of the office are all items that are taken into consideration.
4. Tax Depreciation. Again consult your financial adviser and/or tax accountant.

Long Term Benefits

Luxury Condos allow you to Work Live and Be Happy

Thus far in this post we have discussed the immediate benefits that come with having a mortgage. Not to mention the additional write offs that come with running your business out of your principal place of residence. But there are long term advantages that have not yet been discussed and/or considered. What are they and are these immediate or do they take additional work? The answers are YES and NO. How so you ask?

1. Increase in equity. The market today is stable. Not a word that we have heard frequently in concert with real estate over the last 5 years. However it now exists in our market. Homes are not realizing unrealistic 30% to 50% increases month over month. The increases now make sense, the normal 3% to 5% over 4 to 6 month period. Incremental and steady. Homes that are purchased under market that need work offer a larger potential for gain. Again consider a 203k loan a fantastic choice for today.
2. Your property could ultimately be a better pension/401k/retirement plan than any that are offered by your existing employer. If you are banking on Social Security and under the age of 55, forget about it! Call us today if that is your retirement plan.
3. The opportunity to create a wealth portfolio of rental properties. The pathway to rental properties is start with the first purchase of your principal place of residence. Buy what you can afford and make improvements. As your needs grow move on and make your home a rental. Ask any real estate millionaires, nine times out of ten this is how they began. What are you waiting for?

Get Educated

What type of business are you going to run? Will you have clients coming and going? How much space will you need? Is the area conducive to your conducting this type of business? Will there be local clientele that you can pull from? These are important questions that need to be explored as you begin your journey in finding a home that is suitable to run your business. If you are considering a condo, since that is what is being discussed, it might be best to look at the By Laws that govern the association you would ultimately become a part of. 

So many person say "Give Me an Example of this type of Property". We are exploring Urban Trendy Upscale Condos. Often these attract a community that has a strong appreciation for art. This might a perfect venue for someone looking to run an art studio of gorgeous originals. Many times it may be highly acceptable to the Condo Association because of the audience they seek in potential home buyers and/or renters. Asking if there is a possibility to purchase joint condos with the idea of expansion is a great question and makes perfect sense. The need for versatility when running an in home business is huge and designing according to your needs and specifications a must. But I can't stress how important it is to work with an agent who has this expertise and is not afraid to go the extra mile for their client. Don’t be afraid to ASK and work with a Realtor who understands your needs and respects your wishes. ASK ASK ASK!!!

Buying is the BEST option for entrepreneurs who are dedicated to seeing their businesses be successful and turn profits back into building their business. Want to discuss this option further or better yet see some properties that can allow for an in home business?

Click on Urban Upscale Condos.

*PS these pics in today's post are from a work live condo I am about to list....if your interested in getting in early let me know!

Inviting Bistro Areas--Double As A Client Waiting Area

Plants make you Smile but they also Improve House Values

Growing Flourishing Plants To Improve Your Property or home Value

With property values at an all-time low, you may want to learn some ways in which you can boost the value in your home with very little investment to help it sell quickly. Flourishing trees that flower year after, help homes to have stronger curb appeal and the would be home-buyer to see your property as more than just another house. 

Create Fantastic Curb Side Appeal!!!
There are a variety of flowering trees to plant throughout your landscape, these are fast-growing and mature quickly.  The more mature the trees you buy, the more you will pay upfront. It is always nice when a homeowner has a mixture of mature budding shrubs and flowers. As well as those that are seedlings that take time and patience to help grow. But with the proper nurturing and love they will definitely bring smiles to the faces of all that gaze at your creation. Growing trees, shrubs and plants is therapeutic and great conversation starter. It adds warm appeal to any home and makes it feel loved. Potential home-buyers see your property as not just another home, but a home where they might one day want to raise a family.

Some excellent illustrations of flowering trees that boosts the value in the home are listed below along with some of their features that will help you choose whether to purchase them for your home or not.

Dogwood trees - Many remember these trees from their childhood and the trees usually ignite a personal connection that could help make the home appealing. Dogwood trees mature quickly with buds quickly becoming apparent. Typical colors of dogwood flowers include white, white and red. They normally need very little annual maintenance and unlike other shrubs don't get overrun by unwanted garden pest.

Magnolia Plants - Magnolia trees are some of the most beautiful flowering trees available. The deciduous trees put on a show every springtime that will have many potential home-buyers asking for such a unique shrub in their entry. Deciduous magnolias are usually not worried by unwanted pests or disease. And with proper nurturing and fertilizer you will  quickly realize the blooms you long for. Most deciduous magnolias are basically covered in flowers every springtime. So much so that the divisions are hardly seen through all of the flowers.

Eastern Redbud Tree - The Southeast Redbud shrub sports flowers every springtime making the whole shrub shine in a purplish-red hue. They will blossom consistently every year, but also provide an large quantity of color in your flower garden. Even providing a hint of shade to help hide from the heat of summer or provide a bit of cool when hosting a evening BBQ before the sun has set. 

Planting flowering trees to boost the assessment in your home is practical, fun and adds beauty. Your investment of time and money will continue to boost the value in your home. Making your house feel homey no matter the season!! 

To see pictures of beautiful homes with incredible landscapes: Gorgeous Landscaping

RECOVER YOUR EQUITY in your 16th Street Heights property

16th Street Heights At A Glance

The enormity of 16th Street Heights is fabulously incredible!! One of the largest quadrants yet tranquility abounds in 16th Street Heights.  What makes this lush landscape so vivid is that it almost devoid of any restaurants, bars, stores or new condos. It has kept it very traditional feeling of enormous Arts and Crafts and American Foursquare Homes. If your a little less swish and little more simple try a sweet Victorian on for size and drench in antiquity. 

A vast number of homeowners in the 16th Street Heights community are like many of my clients, they  bought their property before the economic downturn only to have their investment plummet in value, wiping out their equity and leaving them with a mortgage considerably higher than the value of their home. 

In an effort to help my clients I have partnered with an investment group that can help you.  The strategy is simple.  If you are unable (or unwilling) to pay outrageous, inflated mortgage payments any longer, they purchase your debt at a discount from your current lender and then sell it back to you - saving you thousands from your original debt!

HOW DOES THIS AFFECT YOU??

Reducing Your Mortgage Principal while Lowering Monthly Payments, Recovering Equity, and Protecting or Improving Your Credit

Do you owe more than your home is worth?  We can help you:

Keep your home
Reduce your mortgage
Lower your monthly payments
Recover your lost equity
Protect or improve your credit

Why does this work?  Because banks are scared.  The default rate in the DC area is extremely high. Many lenders would rather get rid of their Jumbo loans at fire-sale prices than risk losing everything to a default.

This is not a short sale so you keep or even improve your good credit.  It’s not a loan modification or loan forgiveness so there is no 1009c tax liability.

What does the SOLD market look like in 16th Street Heights in 2012?

This strategy has been used successfully in the commercial real estate market for years.  For the past nine months it has been applied to the residential market.  

The window of opportunity is now.  If you or anyone you know has a Jumbo mortgage higher than the value of your home, contact me at  202-438-1056 and let's see if we can help you.  

Skeptical?  Good.  Call me anyway. There is nothing for sale here. Call me and within 5 minutes you’ll know if you can take advantage this or not.

Warmly,

Natalie Dean

Taylor Properties

202-438-1056

P. S. Don’t continue to pay inflated mortgage payments just because you can.   Call me today: 202-438-1056

P.S.S. READING THIS POST AND WISHING YOU LIVED IN 16TH STREET HEIGHTS???? Look no further check out what is for LIST. At the MRE Group we've got everyone covered! Happy Searching. 

Active Listings in gorgeous 16th Street Heights

“Do You Have a Jumbo Loan and Good Credit – but no Equity in Your Home?”

The bad news is that there is very little chance that real estate values are going to improve in the coming years.  That means for many years to come you are going to be paying inflated loan prices for a property that may never recover its value.

Well, you are not alone.  Currently, 12 million people in the United States have mortgages that are higher than the value of their homes.

If that is you,

What are Your Options?

#1- You can continue to pay money for a house that may never be worth what you are paying.  This is a like flushing money down the toilet, but at least you won’t have to move.
#2- You can choose to default on your mortgage. With this option you will lose your home, destroy your credit for years, and ruin your reputation.  Not to mention making it next to impossible to buy or rent another home for several years afterwards.  Plus, your lender may still come after you for the rest of the money after the foreclosure.
#3- You can try for a loan modification. But that is just a temporary band-aid and ultimately leaves you paying a lot more later on.  Plus, you get labeled as “a bad risk” just for asking.

However, there is another way.  You can:

Ø  Save hundreds of thousands of dollars on your mortgage

Ø  Get equity in your home

Ø  Maintain your outstanding credit or even improve your credit

Ø  Lower your monthly payments

Ø  Avoid the tax liability that comes with a 1099C

And we can typically do this in two months.

Plus, you get to keep your home, which is why you originally bought it. 

And if you have a second home or an investment property with a jumbo loan that is under water, this simple solution works for you too.

Which Mortgages Qualify for this Program?
Fantastic Question! 

An Individual Must Have these factors:

• Must Have Good Credit
• If your credit is poor you must be able to have good credit within a year (we will discuss additional details)
• Mortgage No MORE Than 3 Months Delinquent
• Your Current Mortgage Amount MUST Be Greater Than Current Market Value 

What Does My Current Loan Amount Have to Be to Qualify for this Program?***

Another Awesome Question!

1. Northern VA Counties - You must have a mortgage of $479K or greater on a property

2. Maryland Counties- You must have a mortgage of $479k or greater on a property

3. Washington DC- You must have a mortgage of $729,500 or greater on a property

                                                         You Have a Way Out
We need to talk!

Don't hesitate this is NOT a gimmick!  Contact us today to get started and GET YOUR EQUITY BACK.

***Loan Amounts Subject to Change