Archive for February, 2011

Do you find yourself scratching your head wondering how real estate prices can be “up” on Monday and “down” on Tuesday? I was listening to WTOP radio on Wednesday and they reported house prices fell in DC, then I read a piece in the Washington Business Journal saying prices are up!  What gives?

The truth is, prices can be up and down at the same time – depending on how you look at the numbers.  Are you comparing year over year, month over month, houses or condo, city or suburbs?  Dive deeper into the source of the data to really understand what is happening with the prices in your neighborhood.

I think the best DC and Montgomery County stats can be found on GCAAR.com and in most areas of the country, the local association keeps excellent statistical data for everyone to see on their web site.  Take a look at these two links. 

http://gcaar.com/uploadedFiles/PDF/ToolKit/Research/Home_Sales_Statistics/DC_Condo_Coop/dccc0111.pdf
http://gcaar.com/uploadedFiles/PDF/ToolKit/Research/Home_Sales_Statistics/DC_Single_Family/dcsf0111.pdf

Notice at the bottom right the average price of condos and coops took a steep dive in the last 12 months – and average prices for single family houses fell too.  Yet, if you’re a buyer trying to buy something, you’ll find everything seems to be moving quickly, for full price!  What gives?

Remember this – statistics reflect reality from the past with a gap of about 6 months or more.  In the spring of 2010, right before the federal tax credit expired, we had a huge increase in transactional volume across the country, and in many areas, including DC, a mini bubble in pricing.  Prices went up by as much as 5% in one month for many homes.  As soon as the tax credit expired, much of the steam was gone and for the months following, the market returned to a very sluggish pace.  The statistics are just now reflecting that mini bubble with an increase, then a dive.

The last several months have been tough on sellers, but that seems to be changing.  Buyers are back, interest rates remain low, and sellable inventory is tight.  The market seems to be finding its legs early this spring and I’m optimistic we can hold on to some ground moving through 2011.  Unless of course interest rates shoot up – then all bets are off.

For more information about how this information impacts you, write me at brandon@brandongreen.com

Spring is a good time to look at how “green” your home is.  Below are 5 easy tips to “green” your home.  I’ve learned so much by representing 4114 New Hampshire Ave NW (www.petworthgreenbuilding.com) and I’m thrilled to share.

1. Reduce energy – insulate your attic!  If you do nothing else, please be sure you have a significant amount of insulation in your attic.  More heat (and cool in the summer) is lost through the attic than anywhere else in the house.  Most homes I see in DC have no insulation in the attic whatsoever.  You can either use a spray foam product like was used at 4114 New Hampshire, or even the traditional batting insulation.  If you do it yourself it will only cost a couple hundred dollars and save you many hundreds over the course of a couple years.
2. Reduce storm water runoff and water consumption – install a rain barrel!  For only a couple hundred dollars you can install a rain barrel at the end of your downspout.  Rain barrels can store enough water to get you through some of our dry spells this summer.  Not only will this pull your water bill down, but it will also reduce the amount of storm water runoff that flows into our drainage system and eventually into our rivers – carrying with it pollutants from the city.
3. Reduce water usage – install lower flow faucets.  For less than about $500 you can install lower flow faucets in your bathrooms and kitchens.  The faucets add air to the water stream which allows for sufficient pressure – but less water.  You won’t even notice the difference!
4. Improve your air quality – install high quality air filters.  Buy high quality pleated air filter and change it often.  What is more important than the air you breathe?  For only a few dollars more you can significantly upgrade your air filter but be sure to change it often.  Dirty air filters significantly increase the work your system must perform which raises your bills.
5. Save your money (and water) – plant flowers and bushes that make sense in DC. The DC summers can be very hot and frequently dry.  Planting inpatients on your roof deck for example will require daily watering and may not make sense.  The best decision I made was to plant cactus on my roof deck which flower beautifully throughout the summer and I don’t have to worry about watering daily! Choose wisely based on the soil quality and exposure to the sun.

If you’d like more information about green building – or about buying or selling a home, please contact me at Brandon@BrandonGreen.com

Want more tips?  Check out my guest appearance on a Green radio show: 

http://www.brandongreen.com/blog/2011/03/09/brandon-chats-it-up-with-the-green-living-guy-on-blog-talk-radio-check-it-out/

It can be a month with very little green around Washington – but this month is quite different!  This weekend is our launch of the first multi-family LEED Platinum (candidate) condo project in Washington DC.  If how you live and impact the environment is important to you, this is the project you should see.  Frankly, I have never seen so much insulation and during the recent cold snap, I could really tell a difference.  So if solar panels, rain barrels, low flow faucets, heat pump water heaters, and Energy Star get your blood pumping, visit us Sunday from 1-4pm.  www.petworthgreenbuilding.com 

You don’t have to have LEED certification to “green” your home.  We’ll also be offering tips on simple things you can do around your house that are designed to use less energy.  For example, do you have insulation in your attic?  I can’t tell you how many homes I visit in the DC area with zero insulation in the attic.  If you do nothing else, do that!

See you Sunday!

Two weeks ago I had an opportunity retreat to a meditation center for 6 full days.  6 days with no outside contact. No email, texting, calls, Facebook, CNN.com, weather.com – you get what I mean.  It was an amazing week for me and allowed me to refocus on why real estate is so important in my life. 

I passionately believe that if you can help someone figure out the “where they live” piece, everything else in their life has a much greater chance of falling into place.  Time and time again I’ve seen clients buy the lifestyle they want and suddenly the better job appears, or the relationship they have been seeking falls into their lap. 

Where we live is the heart of our lives and right now too many people have that part of their life screwed up.  Some are renting and should be buying.  Others owe more on their property than it is worth and feel the burden of debt.  Others are in the burbs, but want to be the city – or vice versa.

It is not always the right move to buy a piece of real estate (don’t be shocked that a Realtor would say that), yet it is always the right move to carefully evaluate what you want.  If you don’t know or are simply not clear, that’s okay – begin by understanding what you do not want.  Clarity on what you definitely do not want is the first step to understanding what you do.

Once you have a vision, do something about it.   Small steps like paying down credit card balances, or being mindful of timely payments can be the beginning of the momentum to move you into the living situation you want.

Buying or selling real estate is like good therapy.  It is a discovery process that if done correctly, with enough time and focus, will lead your life to a better place.

If you’d like to speak more about your situation, feel free to reach out to me.  Brandon@BrandonGreen.com