Pat Kennedy - Your Washington, DC Real Estate Connection

Riding Lessons - It's Not About The Horse!

Patricia Kennedy (Evers & Company Realtors) — Thu, 19 Nov 2009 19:28:21 -0600

At the top of my bucket list has been learning to ride a horse. And last week, I joined my friend, Jean, for lessons at the Woodland Horse Center.

I've been on horses before, but I'd never learned how to get the horse to go where I want to go at the speed I'd like him to go, and to stop when I'd like him to stop.

It's about communication.

So my new buddy, a gorgeous roan named Applejack, is teaching me about communication, and not just with a horse. A lot of it applies to clients as well. For example:

It's subtle. It's easy to say "canter" when you want him to trot.
If you don't say "go" just right, he'll stop altogether.
You really need to show the horse who's in charge, but sometimes the horse is in charge - unless you're really good.
Sometimes the horse will give you this look like he must think you are a total idiot.
Sometimes you are a total idiot - at least when it comes to horses.

So while I'm trying not to get too concerned about Applejack's judgments of me as the human who rides him every week, I'm learing to sit on an English saddle and post and trot and basically sit on this guy's back without falling off.

And the other fun thing is the shopping opportunity at the tack shop. I got my cute new helmet - although I'm striving to get one with a fuzzy surface - they are really cool.

And Jean got these chaps - I have to have some! They are beautiful brown supple suede.

There are also boots and outfits and saddles and before long I'll be leasing a horse! Then I'll need to buy one and move to Potomac where thre are lots of places with stables that go with the house!

My broker will love all this. I'll have to sell a lot of real estate to support my new horse habit!

Wordless Wednesday - Applejack And Me

Patricia Kennedy (Evers & Company Realtors) — Wed, 18 Nov 2009 19:54:49 -0600

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certainly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.

Lenders Going Back To The Future

Patricia Kennedy (Evers & Company Realtors) — Mon, 16 Nov 2009 14:40:37 -0600

A lot of us have started to go nuts as lenders are getting more and more nitsy, driving our beloved clients crazy with last second requests for documentation and other paperwork issues that seem to come to a head about two days before settlement.

This morning, I had a talk with a lender who has been making loans as long as I've been selling houses, and we were laughing about how it's getting to be just like the good old days! So now, I'm coaching all of my buyers on what to expect during the process. By preparing them for all of the stuff that is totally annoying people right now, I'm hoping that if they expect the nitsy, it won't annoy them as much. Here are some of the things I'll have them be on the lookout for:

For a while, the lenders were all pretty casual about pest inspections. Well, now it there is a single carcass of a single once alive termite on the property, there will have to be some evidence that the little guy did not die of natural causes like old age. This means evidence of prior treatment, either in the form of paperwork documenting when the treatment was done or a new treatment. Same with repairs of termite damage. You'll probably need someone to certify that it was done by a licensed termite repair contractor, or you will have to bring in a licensed termite repair contractor to say it was done properly.
They are looking at condominium documents more carefully, with an eye to saying no to people buying in buildings that look like the owners' association might be in trouble. In projects with a lot of short sales and foreclosures, this could further compound the problems they are having with owners who cannot pay either their mortgages or monthly association fees.
If you put any money into your checking account that was not your regular pay check, you will have to account for it. So if you are self-employed, keep good records of your clients' payments. Same if you are on commission. I just had some buyers need to get a letter from grandma saying the $1000 check they deposited was, in fact, a wedding present.
If you are getting a large gift from your parents, you may have to document that they did not borrow the money to give to you. You'll also probably have other lender's guidelines about the amount as a percentage of your down payment.
It is taking a lot more time to get the papers through the lender's system - getting the loans through underwriting and then getting documentation to the title companies. It's like they are trying to do the work with fewer people, which means the fewer people are going to put your papers in higher and higher piles that take longer to get to.
And they keep thinking up new things faster than we can add them to our What to Expect list!

We used to have to deal with these situations all the time before about the mid-1990's. All lenders were a pain, but it didn't seem like a pain at the time because we were totally used to it.

And yeah, they expect to get picky, picky, picky! And trust me, it will still be easier than when I was a new agent and had to walk through the snow for miles to hand deliver the extra documentation!

Speechless Sunday - Leaves

Patricia Kennedy (Evers & Company Realtors) — Sun, 15 Nov 2009 22:25:48 -0600

Most of our leaves are now on the ground. So, on this gorgeous top-down Sunday, I saw this gorgeous red tree out in Potomac, Maryland. And I had my I-Phone handy, which didn't quite catch the way the sun reflected off of the bright red leaves.

Recognizing A Stroke

Patricia Kennedy (Evers & Company Realtors) — Sun, 15 Nov 2009 08:39:19 -0600

Recently, a family member had a stroke. His stomach was upset. He thought he had food poisoning and looked like crap, and friends insisted on a visit to the emergency room. He was very, very lucky. Not everyone is, because the symptoms often don't look like a stroke, unless you know exactly what to look for.

There might be a fall, the person might be a little disoriented and loopy. There might be a numbness is the face and really bad headache. And the person having the stroke might insist he is fine - just a little trip and fall.

If you are with someone and suspect he or she might be having a stroke, here are some hints:

Ask him to smile
Ask him to repeat a simple sentence coherently
Ask him to raise both arms

If he has problems with any of these tasks, call 911.

Then there is another sign. If you ask the person to stick out his tongue and it comes out crooked - off to one side - that is another sign of a stroke. Again, call 911.

A suspected stroke is nothing to mess around with! Getting to the hospital as quickly as possible is key to surviving and making a full recovery from a stroke.

Top Five Homes Sales In Washington: October 2009

Patricia Kennedy (Evers & Company Realtors) — Sat, 14 Nov 2009 13:57:37 -0600

The five highest sales prices paid for Washington, DC properties in October is in stark contrast to the top five listed homes. The five highest priced listings range in price from a low of $10,000,000 to a high of $39,500,000. And here is what actually sold last month:

2716 36th Place NW for $1,850,000: the asking price was $2,150,000, reduced from $2,275,000. The house was on the market for 262 days. Located in Observatory Circle, this center hall brick colonial is pretty much the Washington standard. It has 6 bedrooms, 4.5 baths, and over 3700 square feet of living space. The kitchen and baths had recent high end renovations, and the entire house appeared to be in excellent condition.

P Street NW for $2,200,000: the asking price was $2,275,000. This is a Georgetown classic townhome dating back to about 1900. It has over 4000 square feet of space and has been beautifully renovated and decorated. It's interesting to note that the house does not have parking, which is unusual in this price range - and in Georgetown, parking is a very good thing to have.

4940 Indian Lane NW for $2,400,000: the asking price was $2,750,000, reduced from $2,950,000. This Spring Valley home was what we sometimes call a "granny house", looking well-cared for but with kitchen and baths that were state of the art when it was built in 1956. The interior space was over 5000 square feet, and the house is situated on a beautiful and well-landscaped lot. This one has a lot of potential, and it will be interesting to see what the new owners do with the place.

2400 Tilden Street NW for $3,330,000: listed at $3,595,000. On the edge of Rock Creek Park, this home dates back to 1796, known as the Pierce Still House. The renovation may have been one of the best I've seen, with a kitchen fireplace big enough to roast a cow! It has 6 bedrooms, 5.5 baths, and over 6000 square feet of space. It ranks as just about the favorite place I've seen here in Washington - at any price.

2446 Belmont Road NW for $4,350,000: listed for $4,995,000, and previously listed for $5,750,000 and was on the market for a total of 279 days. This stone Tudor has approximately 5000 square feet of space sits on a huge, beautifully landscaped lot overlooking Rock Creek Park. The kitchen hadn't been renovated recently, but it looked like a high quality classic from the mid-century. The house has 8 bedrooms, 6.5 baths, and the dining room is large enough to host a state dinner!

Camille, You're Doing It All Wrong! Advice for FSBOs

Patricia Kennedy (Evers & Company Realtors) — Thu, 12 Nov 2009 21:23:08 -0600

I have some clients who are looking for a great condo or coop downtown. I've found some good possibilities and my clients are adding things that they come across on the Internet.

Most of their finds are already under contract or settled. But there was one that, while not on the MRIS was on a FSBO site.

There was a description and contact information.

But wait!

It said to call Camille. I dialed the number then I noticed the little warning that Camille is on the national "Do Not Call" register, and any agent who calls her is subject to a gigantic fine.

Hang up! Fast!

OK. There's also an email option. But when I tried that, I got a warning from the Realtor® police that my email set off a red flag.

Now, the price is $550,000 and the remarks said it is firm. But wait! That's $75,000 more than anything has sold for in the building. And it's a third floor walk up, and the fees are so high that they should include dry cleaning and groceries - which ought to include delivery up the three flights of stairs!

And before I could talk my clients out of wanting to see the place, a "friend" of the owner called my number, captured from the caller ID that showed up before I hung up. And we do have an appointment to see the place tomorrow, and I'm secretly hoping that they hate the place.

If you're thinking about going it alone, selling By Owner, you can do it. While most people who try give up and eventually list with an agent, you can avoid the major pitfalls -

Don't overprice your place.
At a minimum, use a limited service company that will put your listing on the local Multiple Listing Service, and agree to pay any agent who brings in a buyer.
Be careful about the information you have on your promotional leaflets. Camille had a couple of serious mistakes on the piece that her "friend" emailed me. One of them could cost her buyer an extra $8,000 or so.
Don't have an unlicensed "friend" help you sell the place. They won't know any more than you do!

You might think it's easy. It's not.

Now, I don't want your listing. But you might want to buy a copy of The Irreverent Guide to Real Estate. There is a whole section on how to do it yourself.

Presenting Our Listings In The "Best" Light

Patricia Kennedy (Evers & Company Realtors) — Tue, 10 Nov 2009 21:02:57 -0600

Today on our brokers' tour I saw a pretty house in Woodley Park, one of my favorite neighborhoods.

The MRIS information had a very well-done virtual tour, with professionally done photos taken of very well-staged rooms. If I were a buyer doing an on-line search, these photos would certainly get my attention and make me want to put this place on the top of my list.

When I got to the Open House today, I had to admit the place was adorable. It was charming. And it wasn't really what you'd call tiny, but it also was nowhere near as large as the beautiful photos made it look.

The house way way too small for the buyers I was checking it out for, and at the same time, I am glad that I saw it. It might work for someone else. But it definitely fell short of the expectations.

The photos made the rooms look a whole lot larger than they actually are. And the agent and I started talking about this.

So the question here (and neither one of us had the answer), is it better to use wide angle lenses, PhotoShop and other modern wonders to get people into a house that might disappoint them? Or is the idea to just them in the door?

Not having the most flattering photos possible is sort of counter-intuitive, is it not?

Thank You So Much Dixon's Pest Control!

Patricia Kennedy (Evers & Company Realtors) — Tue, 10 Nov 2009 19:57:08 -0600

I have a settlement scheduled for Thursday afternoon. The termite inspector found a few dead guys and a little bit of chewed wood, but it was evidence of a prior infestation. Since there is no record of a prior treatment, we've got to get a bunch of nasty chemicals pumped into the ground around the house before Thursday. And I found out this afternoon.

So I called my friends at Dixon's Pest Control for help. And sure enough, they saved the day. Tomorrow they are treating the place - and it's a federal holiday!. I'll be able to get the last piece of paper to the lender in time to settle at four o'clock.

Like many agents, I sometimes find myself needing last minute termite treatments, sometimes because I just forgot about it. And Dixon always makes it happen. Oh, and they do a great job when it's not a last minute request as well.

So if you need a pest inspection or treatment, they can be reached at 202-882-6565 or email them at DixonsPest@hotmail.com.

What's In A View?

Patricia Kennedy (Evers & Company Realtors) — Sun, 08 Nov 2009 23:44:29 -0600

In Washington, there are certain views that can make a condo unit worth more, a lot more, than if they didn't have one.

So when I saw a condo with an optimistic price, there was a photo of the view from the unit, and it showed the National Cathedral. Now as veiws go, The National Cathedral is right up there. Maybe not as great as the Capitol, the Potomac or the Washington Momument. But it does command a few extra dollars.

Well, I'm glad that I previewed the place first.

Looking out one of the bedroom windows, you could see the Cathedral.

But from the giant windows in the living room, this is what you got:

Some day, they might turn this roof into one of the new "green" ones, with sod and flowers. Then you won't be distracted by the ugly thing, and you might even look to the west and appreciate the far off view of the Cathedral!

But in the meantime, if I were the agent, I'd maybe change the focus to make the expectations he creates meet the reality that buyers see.

Staging Faux Paux!

Patricia Kennedy (Evers & Company Realtors) — Sun, 08 Nov 2009 23:23:39 -0600

There is a very cool condo in Adams Morgan that I've shown for the second time. It is staged within an inch of its life and looks pretty good.

It's loft style place. The living-dining-kitchen is all open. The wood floors shine when the sun shines in through the huge windowns. You can just imagine how the fireplace is in the winter. The baths are even state of the art.

Then there's this industrial strength staircase leading up to a loft with big windows leading to a huge terrace.

And on that terrace, there were some chairs, a little fire pit, and a buch of mums - about eight of them.

Well, they used to be mums.

Now they are just dried out shells of former mums. Here are two of them.

So, bottom line. If you are going to use live plants in staging, you have to monitor their health and well being.

Dead plants are a complete turn-off.

Speechless Sunday: Washington Autumn

Patricia Kennedy (Evers & Company Realtors) — Sun, 08 Nov 2009 17:57:56 -0600

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.

What "Color Me Beautiful" Taught Me About Staging

Patricia Kennedy (Evers & Company Realtors) — Fri, 06 Nov 2009 20:59:20 -0600

Many years ago, I had my colors done.

The idea is to figure out which groups and shades of colors make you look terrific, and which ones make you look like an organ donor waiting to happen. Of course, you want to go with the look-good-feel-good colors that work for you.

They say this approach is also useful when you are working on decor for your home. You get a good feeling about a room when it's decorated in your colors.

The woman who did my analysis worked for Color Me Beautiful. They divide people into one of four "seasons". And people in one season, the "Autumns" like and look good in browns, golds, maroons, olive greens, and unusual shades of other colors. But the Autumns only make up about three percent of the people on the planet!

So the other day, I showed a house where they had moved out the buyers pretty decent stuff and brought in a stager. Well, this gal must have been pure Autumn, because it was all the shades that made my buyers (she was a spring and he was a winter) just want to run out the door! Golden green couch, Chinese rugs with brown and gold patterns, and maroons swags.

"Wait!" I said. "You're reacting to the colors." And once they realized what it was, they were able to see beyond the staging and realize it was a terrific place. It's on the possible list now.

This made an impression because I am preparing to list a house that has all the wrong colors - out of That 70's Show! The seller is up for letting us consign his olive green couch to Value Village and bring one in from our staging warehouse. He's agreed to have the place painted to make the maroon walls in the master bedroom disappear and transform leaf gold dining room into an oasis of cross-season neutrality.

And to help choose the colors, I'm going to call a favorite colleague who helped me with my own house. Oh, my friend is a summer, but she's good at picking universal colors that everyone can feel comfortable around.

The New And Improved Homebuyers' Credit

Patricia Kennedy (Evers & Company Realtors) — Thu, 05 Nov 2009 22:25:14 -0600

President Obama is expected to sign the revised home buyer credit some time tomorrow. And, at the risk of looking a gift horse in the mouth, I'm not sure how I really feel about the whole thing.

With the increased income caps of $125,000 ($225,000 for married couples), more people in the DC area will be able to take advantage of it. But think about it a minute. Is the idea to help first time buyers? Or is it to help sellers? And who are the sellers? A lot of them are banks selling foreclosed properties.

Um. Is this one more bank subsidy?

The subsidy is providing an incentive for buyers to go into the market. With more buyers in the market, home prices are increasing in some areas, and here in Washington, we are starting to see multiple offers in the double digits for well-priced homes. So the buyer's tax credit may be offset by higher home prices, at least at the lower end of the price spectrum.

I have to keep in mind that the lower end of our price range in Upper Northwest DC is upper brackets in other parts of the area. Many neighborhoods east of Rock Creek Park and in other quadrants will benefit. And the credit will likely benefit condo sellers.

While this isn't a bad thing for sellers and the buyers who will get the tax credit, remember that a tax credit is $8,000 per transaction being subtracted from the plus side of the

national budget, which is already bursting at the seams.

In the meantime, I will try to do my part to make hay while the credit is in effect. Hopefully, the credit will benefit Realtors® around the country, and we will pay more in income taxes, unless of course, we make less than the income cap and buy a place.

Wordless Wednesday (Oops!)

Patricia Kennedy (Evers & Company Realtors) — Thu, 05 Nov 2009 14:26:15 -0600

This mural is on the side of my favorite bookstore, Politics and Prose on Connecticut Avenue. They have a large collection of both fiction and non-fiction, as well as great historical stuff about Washington, DC's rich history.

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.

I'm Dreaming of a China-Free Christmas!

Patricia Kennedy (Evers & Company Realtors) — Thu, 05 Nov 2009 14:15:16 -0600

I first freaked out when I found out that Willie the Labradoodle's premium dog food was made by the same company in China whose canned pet food was tainted and killing family pets. Then A couple of weeks ago, Katerina Gasset wrote a post about Chinese drywall that got me to thinking. Why do we buy their stuff? Well, for one thing, it's pretty hard to avoid, whether you're shopping in Target, Whole Foods or Bloomingdales.

So this year, I am looking for shopping venues where I can find Christmas gifts that were made, well, not in China.

I'm starting off at my friend, Annie Groer's, holiday sale. She is clearing out a bunch of stuff. And a lot of it is pretty amazing.

Need some high quality designer costume jewelry? This is a great place to start. I walked out with some Chanel earrings on my lobes. But wait! This is supposed to be Christmas shopping for the people I love - not accumulating more stuff for me!

And if you're into poodles, there are some of those. But no Labradoodles. Oh well!

If you are in the market for pins or earrings with this little beast, there is a lot to choose from.

If you're shopping for your guy, there are some great cuff links,at least if he has any shirts that need cuff links.

Moving on from jewelry -

There are also fashion items that might fit someone smaller than I am. Especially in the feet department.

And for that person who has everything? The item to the left is probably not something they already own.

Nor this highly sophisticated collector's item - a set of rare vases!

How about some JFK memorabilia for your favorite political junkie?

Now, I am just scratching the surface here. Items include an alligator, mink jacket, some amazing articles of clothing, and much more.

To view these items, you need an appointment. Please email me at housepat@mac.com, and I will help you set one up. Now I'm off to check out a cute place in Georgetown! More later.

Wordless Wednesday - Maybe Why Healthcare Reform Is Taking Awhile

Patricia Kennedy (Evers & Company Realtors) — Sun, 01 Nov 2009 18:50:35 -0600

Via Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty):

The Family Portrait

Patricia Kennedy (Evers & Company Realtors) — Sun, 01 Nov 2009 13:35:41 -0600

My parents had this family portait taken when we lived in Williamsburg, Kentucky, a pretty little town on the Cumberland River near the Tennessee boarder. I was three years old, and my brother, Jack, was not quite two. The picture now sits in a frame in my mother's house, and it brought back memories of of a very carefree time in life. We lived in a little white house on the outskirts of town, with a huge cherry tree and a field of daisies next door. On the other side, there was a chicken farm owned by P.R. Jones - who kept us in baby chicks and fresh eggs.

Jack is much better looking today.

My Favorite Cleveland Park Greek Dive: Yanni's Greek Taverna

Patricia Kennedy (Evers & Company Realtors) — Sat, 31 Oct 2009 14:45:26 -0500

On my first date with my sweetie, he suggested that we go out to dinner somewhere. I immediately thought of Yanni's Greek Taverna in Cleveland Park. It's that kind of a place.

OK, Yanni's isn't really a dive. It's a no-frills Greek restaurant with tasty food, great Greek wine (at least the white wine) and an owner who looks a bit like a Greek Gerard Depardieu.

And the food is fun.

They have all the usual appetizers, hummus, tzatziki, taramosalata, grape leaves, or just get the sampler.

The Greek salad is huge, and my favorite, the Taverna salad (chopped lettuce with lots of fresh dill, feta cheese and dressed with tzatziki) is also big enough to share.

My favorite entrees are the charbroiled squid or octopus, and you're not into eating sea creatures, they have all of the standards as well.

In warm weather, their outdoor cafe is a place where you are sure to see someone you know, either at the next table or walking down Connecticut Avenue.

Now, the service is a little bit on the flaky side. A couple of the waiters are known to be occasionally grumpy - no one is going to fawn all over you. But they do get the food to the table in a reasonable amount of time, and they'll get the order right. And when it does arrive, I've found it to taste quite wonderful.

And that's the most important thing, after all.

Crestwood Halloween Festivities!

Patricia Kennedy (Evers & Company Realtors) — Sat, 31 Oct 2009 09:26:50 -0500

There will be a neighborhood Halloween party for Crestwood children of all ages this afternoon at "The Point", located at 18th and Shepherd Streets NW.

It starts at 3 and ends at 4:30.

There will be treats, and contributions of anything with sugar (well, not coffee) from grown neighbors are welcomed.

It could get scary as our little goblins and gouls collect their first candy of the day and check out the woods, that I'm sure will be appropriately decorated for the festivities! So grab your costume and, if possible, find a child to bring with you.

It should be fun!

For The Dog Lover In All Of Us

Patricia Kennedy (Evers & Company Realtors) — Fri, 30 Oct 2009 20:22:09 -0500

Gary does it again! This may be the funniest post I've ever seen here. Read it and make sure you are not drinking anything, or you will spit it all over your computer screen.

Via Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty):

New Dog Breeds

The following breeds are now recognized by the AKC:

Collie + Lhasa Apso = Collapso, a dog that folds up easy for transporting

Spitz + Chow Chow = Spitz-Chow, a dog that throws up alot

Pointer + Setter = Poinsetter, a traditional Christmas pet

Great Pyrenees + Dachshund = Pyradachs, a puzzling breed

Pekingnese + Lhasa Apso = Peekasso, an abstract dog

Irish Water Spaniel + English Springer Spaniel = Irish Springer, a dog fresh and clean as a whistle

Newfoundland + Basset Hound = Newfound Asset Hound, a dog for financial advisors

Terrier + Bulldog = Terribull, a dog that makes awful mistakes

Bloodhound + Labrador = Blabador, not a popular dog with CIA agents

Malamute + Pointer = Moot Point, owned by... oh, well, it doesn't matter anyway

Collie + Malamute = Commute, a dog that travels to work

Deerhound + Terrier = Derriere, a dog that's true to the end

Using My Blog To Enhance Existing Client Relationships

Patricia Kennedy (Evers & Company Realtors) — Fri, 30 Oct 2009 20:08:14 -0500

I don't hide my blog under a bushel.

There isn't a person who knows me who doesn't know that I am an avid blogger. Every buyer and seller I work with sees the link to my blog on my business card, on fact sheets at open houses, under my signature on every email I send them, and every other piece of promotional material that I put out.

Just in case they don't notice it right away, I point it out to them. Before I take on a new client, and if we don't already know one another from a past transaction, I suggest that they read my blog to get an idea of who I am and how I work. If they are referral from a past customer, they are often already familiar with it - the friend who gave them my name gave them the blog link before I did.

Once they are a client, I often write about our time together looking at houses, how they make the decision about which one they'll buy, the negotiation and getting it all to the settlement table. Now, I try to keep it humorous, and I never write about my own clients behaving badly. Also, I almost never use names (certainly not without their consent) and while they might recognize themselves, other people reading the post would not.

And in almost all cases, the posts make them laugh and they like to read about our escapades on the streets of Washington.

When I wrote Ma'am, Kindly Move Away From My Clients! I got a call within an hour of posting it from my buyers. Then they shared it with their friends and family. Wadda Ya Want For A Million Bucks? had the same effect on the woman I showed a sloppily prepared house to. The couple I was working with when I wrote Selling a Blog Buddie's Listing! wound up joining Active Rain (I made the comments open for members only after the spammers) and they were able to read and comment on that and several of he posts that their transaction spawned.

When it snows, I email a link to Your Snow Shovel Is Your Friend to all of my sellers, which makes me feel less like the nag I might be if I phoned them to say "shovel it!"

I wrote a post about one of my sellers, Edna Johnston, who helps people get a tax credit for dedicating the facade of their historic home to the L'Enfant Trust. She loved the post, and so did the people who bought one of my historic listings and asked about the possibiliies with their new home.

And speaking of Edna, she bought her house years ago when I was with Pardoe Real Estate, which morphed into Coldwell Banker, which I left for WC and AN Miller Realtors, then moved to Evers & Company where I am now. And she tracked me down on Google, which thanks to all of my new found Google Juice, she was able to do easily when she typed my name. Before Active Rain, I was buried on Page 35. Now I'm on Page 1 most of the time - which is pretty neat for such a common name.

I'm in a book group, and half of the members are past clients or bought on of my listings. When I wrote My Fun New Book Group! about our first meeting, they all got a link.

My blog is something that sets me apart from other agents. It gives my clients, and also my colleagues, something to laugh about.

And as I'm finishing this up I realize that I don't have to talk as much when I'm with them. I'm not tempted to run at the mouth, regaling them with my funny little real estate stories. They've read them in my blog! It's a non-verbal introduction to who I am, which makes it possible for me to listen and learn who they are and figure out how to best serve their real estate needs.

Ya know? Blogging rocks! Active Rain really rocks!

Buying After November 30th? Don't Count Your $8000 Just Yet!.

Patricia Kennedy (Evers & Company Realtors) — Thu, 29 Oct 2009 10:10:49 -0500

When you listen to the news or read the paper, it sounds quite good. A Senate Committee agreed to extend the $8,000 federal tax credcit beyond the current November 30th deadline.

Whoo Hoo! Break out the champagne!

Well, not just yet.

What you are hearing about is just the first of many steps in the process.

Once it leaves the Senate Committee, it must be approved by the entire Senate - not necessarily a given.
It must complete a similar process in the House of Representatives, and that hasn't happened yet - and might not.
It must survive a "Conference Committee" where the House and the Senate get together to iron out any differences between the two bills.
President Obama must sign it into law.

This isn't a slam dunk. While our legislators have some concern about the housing market's recovery, this provision will cost the taxpayers a bunch of money. And even Congress is getting a little bit careful about how they are going to spend. While many in our business would like to see the tax credit remain, there are many on Capital Hill who view this as an artificial prop that is a very short term fix, and quite expensive.

So, it isn't even close to being adopted.

It's just the first, and very important, step to what might or might not happen.

Bidding Wars? Whatever Happened To Our Buyers' Market?

Patricia Kennedy (Evers & Company Realtors) — Wed, 28 Oct 2009 22:59:21 -0500

Our office email had an interesting thread today.

Blog Buddie Ed Schneider wrote an email note to colleagues about writing an offer on a house in Mount Pleasant in a twelve-way bidding war. Then my colleagues began to chime in, one after another, telling war stories of being in double-digit multiple contract situations over the past week.

In these situations, here are some of the things that people are doing to get the winning offer:

Having the house pre-inspected so they go in without an inspection contingency
Crossing out the financing contingency
Crossing out the appraisal contingency
including a healthy looking financial information sheet
Including an obscenely high earnest money check
Settling at the sellers' convenience
Including an escalator clause agreeing to top competing offers by at least thousands of dollars with a cap way above the asking price.

Is participating in a bidding war a good idea? To get the house, you have to eliminate every way of getting out of the offer. So if when you wake up in a panic about three days after you are the winner of your dream house wondering what on earth you were thinking, well too bad! It'll cost you a bundle to get out of the deal - like that obscenely high earnest money check you wrote!

Earlier in the decade, if you wanted to buy a house, you often didn't have a choice. But today, there may be options. And when you do participate, you are doing your part to run up the prices in the market where you plan to buy.

When I'm not the listing agent, I hate bidding wars. Over the years, my clients won their share, but I sometimes felt a little queasy as I represented them. More often than not, I tried to work with them to avoid these situations. How?

Homes that are look fabulous tend to attract multiples. Why not use your imagination and go for the ugly and poorly staged (and reasonably priced) stepsister who, with a face lift and tummy tuck could become quite a beauty.
Homes that are priced below market tend to attract multiple offers, often pushing the sales price to way above market. It might make sense to look at homes that are priced at or a little above their market value.
I never ruled out the homes that had been on the market for eons. Often they are a pain to show, have a resident pit bull, or some other issue that isn't related to the price or quality of the property.

In the early years of the decade, it was really hard to avoid bidding wars, and we felt lucky to be writing an offer on a place with only 4 or 5 other buyers. But today, in most price ranges and DC area neighborhoods, there is a lot to choose from.

You need to try to avoid getting caught up in the need to win - and the same thing applies to your agent! Just because 15 other people are going wacko over a house doesn't mean you have to do it, too!

Wordless Wednesday: Grand Central Station

Patricia Kennedy (Evers & Company Realtors) — Wed, 28 Oct 2009 21:22:52 -0500

© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.