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October 23, 2009

 Good Care Puts Dollars in Your Pocket

 By Cary Lee Dailey

While the leaves are turning red and gold, the temperature is dropping and children are gearing up for Halloween, October is prime time for homeowners to develop a fall maintenance strategy. Area experts say now is the time to take care of basic house and yard work to ensure that a home is ready for the cold, wet months ahead.

Proactive homeowners can prevent major problems that can be costly to fix. By keeping up with basic tasks and preserving the condition of the property, sellers can also gain a competitive edge if they want to place their home on the market anytime soon.

Mike Ward-Dahl, owner of the home-inspection firm Pillar to Post Inc. in Fairfax County, says cleaning gutters and ensuring that they are securely attached should be a priority.

"If it's not done frequently, it can lead to leakage in the roof and attic," he says, adding that clogged gutters can get so heavy they can fall right off a house.

In addition to giving the gutters some attention, Mr. Ward-Dahl says it's important to have the HVAC system serviced and to change the furnace filters. Although many homeowners believe changing the filter annually is sufficient, he says the filter actually needs to be replaced several times a year. If not, the system is strained - reducing its air flow and efficiency.

Checking the thermostat (or even installing a new programmable one) and applying caulking and weatherstripping, where necessary, are essential maintenance chores to be performed before winter arrives. These simple acts help avoid drafts and lower heating bills during colder months. This is also a good time of year for homeowners to test smoke and carbon-monoxide detectors and change their batteries.

For fall yard maintenance, Mr. Ward-Dahl says homeowners should trim any overhanging tree branches that are dangerously close to the house and that dead trees and limbs should be removed so they don't cause damage during storms.

"Get rid of them before they fall down," he warns.

Cliff Kornegay, a licensed home inspector and owner of Capitol Hill Home Inspection LLC in the District, says he has seen devastating consequences when homeowners do not perform any fall maintenance on their homes.

He conducted an inspection last week for a customer who had a blocked, overflowing gutter that was so heavy that it eventually came loose and slammed in the wrong direction. This resulted in a flood, causing plaster on the brick wall of the home to come loose, and the owner's new hardwood floor buckled.

Unfortunately, Mr. Kornegay says, homeowners often learn the hard way that ongoing repairs and upkeep are critical in averting these types of scenarios.

"A home is just like a person - you have to take care of it," he says.

Mr. Kornegay suggests homeowners pay close attention to their pipes and the roof.

"If you have crawl spaces in the basement or attic, check to see that the pipes are insulated, so that they don't freeze and break," says Mr. Kornegay. "It can start with something small, but moisture problems account for a large number of home problems."

Garden hoses should be disconnected and covered with hose bibs if they aren't frost proof, and the indoor valve should be used to shut off and drain water from the pipes leading to outside faucets.

The roof should be checked for missing shingles or any other potential problems by a professional, and the chimney should be inspected and cleaned before it is used to prevent dangerous chimney fires.

All of the effort put into these basic tasks to prepare and protect the home will be worth it when it comes time to sell, according to area Realtors. Brett West, a Realtor with McEnearney Associates Inc. in Alexandria, says he always recommends his sellers complete "house-related homework" this time of year because a little bit of maintenance now can alleviate big headaches later.

Mr. West says something as simple as changing the HVAC filter can make or break a home inspection, as well as provide assurance to prospective buyers that the property has been properly maintained.

"It really sets the tone and the rest of the house follows suit," he says. "Somebody will go through the home and scrutinize it, and if they see that you have skipped out on replacing a filter, they will wonder - what else did you miss?"

Insulating, weatherstripping and caulking windows and doors can pay off by helping to lower heating bills and make the house more energy-efficient, another positive feature for potential buyers.

Mr. West says that now, more than ever, buyers are asking to see monthly utility bills as they consider their budgets in this tight economy.

"It's wise to be energy conscious," he says. "The buyers want to know, 'How much am I going to have to pay to heat this place?' "

He points out that homeowners should consider replacing old windows with energy-efficient ones, especially for older homes.

When focusing on the overall presentation of a home during this time of year, Mr. West believes buyers will be enticed by homes that are staged to capture the festive fall spirit. He recommends sellers paint an accent wall with a deep mustard or rust shade and put out some fall table linens.

"Any buyer is just looking for the home to be presentable, and sometimes homes never look better than when they are decorated for the season," he says.

While the interior and exterior of the home must be in top-notch shape, the surrounding landscape also plays a large role in enticing prospective buyers. Glenn Sutcliffe, an agent with W.C. & A.N. Miller Realtors in the District, says that when the weather gets chilly, people tend to hibernate and that the yard is usually the first thing to go. He believes curb appeal is just as significant now as it is during warmer months, maybe even more.

"This area is known for its beautiful autumn, so it's critical that landscaping look great," says Mr. Sutcliffe.

Outdoor maintenance should include spreading a fresh coat of mulch, keeping the lawn mowed (and free of leaves) and trimming bushes and trees.

Area landscapers agree and say that although it appears that grass and shrubbery are not growing any longer, fall is a great time for fertilizing because the roots that will sustain plants in the warmer months are growing deeper to prepare for the winter.

"Fall is to root development what spring is to foliage development," says landscape designer Blake Dunlevy with D&A Dunlevy Landscapers Inc. in Poolesville.

For those homeowners who want an immediate burst of color, Mr. Dunlevy recommends hearty annuals that can survive the frigid temperatures - such as pansies, as well as cabbage and kale. Outdoor displays of pumpkins and cornstalks can provide additional character for a home.

Mr. Dunlevy says fall is a fantastic time to plant trees and shrubs, as well as bulbs (such as tulips and daffodils) so the yard will explode with different shades when spring arrives.

It is also a good time to reinvigorate the lawn or plant a new one; Mr. Dunlevy says installing sod is affordable and can provide a "wow" factor for a home before potential buyers even walk through the front door.

"Not everyone notices the ornamental plants, but everyone notices a green, beautiful lawn," he says.

Located in among DC's most coveted and treasured neighborhoods - Kalorama - this home features unexpected amounts of space for its location. Imagine 1,200 square feet with two full bedrooms and two full bathrooms. The master suite includes a true walk-in changing room. Finishes are very rich, contemporary - stainless steel and butcher block in the kitchen, and gleaming concrete floors with acid-stain finish. The living room/dining room combo offers ample space for entertaining large parties.

1810 Calvert is just steps from Adams Morgan - teaming with shopping and nightlife - as well as Rock Creek Park, among other community amenities.

Though this home is in fantastic condition, the owner has cleverly priced this home at $509,000, which is about $30,000 below comparable condos.

Today's open house runs from 1-4.

For additional information, or more photos, please visit www.BrettWest.com.

Location, condition and price make this home extremely attractive.

That's My 2 Cents' Worth!

The Randolph is a short walk from Metro and shopping or dining experiences galore. And the bus line stops just steps away.

A hundred years ago, Columbia Heights was the northern edge of downtown Washington, D.C. and included a track and stadium for horse racing. Today, the neighborhood that overlooks Washington from atop a hill, is a thriving, dynamic community that caters to a rich cultural diversity. The city government was wise to designate Columbia Heights as among its Main Street communities to receive public/private funds for development. There are new shopping and dining establishments located at 14th and Irving to accompany Columbia Heights Metro Station and scores of smaller, family-owned businesses.

Click here to find out more about The Randolph.

And think about paying us a visit today or sometime soon.

That's My 2 Cents' Worth!

Thank goodness for 2008 - or rather relief from it. During 2009, the most popular home among consumers in the Washington, DC Metro Region, is priced between $400,000 and $600,000. And within this price range, the last three months have brought some stability.

In fact, the spring market has brought much-welcome buyers back to the table in several area neighborhoods, including Del Ray (in Alexandria, VA), Dupont Circle (Washington, DC) and Bethesda, Maryland. Home in these neighborhoods have held there value, and in some subdivisions, we're actually seeing more homes under contract than active listings.

What does this mean?

With buyers back on the market snatching up existing inventory, homeowners feel more at ease with listing their homes, thus increasing new inventory. And the supply chain moves forward.

We're not likely to find homes appreciating at 80 percent in one year's time for a long time to come, and hopefully never. Consumers are craving stability, and it looks like that may be just what we're getting.

That's My 2 Cents' Worth!

• In the first half of 2005, demand exceeded supply - but a transitioning market soon forced a very wide disparity between supply and demand. Then the gap narrowed considerably toward the end of 2006, but the gap opened up again in the late Spring of 2007 and has stayed wide since then.
• In general, the market for homes priced less than $500,000 is still a buyers' market, with a current supply of more than 6 months.

• For homes priced at more than $1,000,000, the market never saw the huge imbalance we saw in the lower prices ranges in early 2005. But those were great times for million dollar home sellers nonetheless.
• During the past nine months, the inventory of upper bracket homes on the market has soared, while contract activity is running well below the peak times in 2005 and 2006.
• There is no doubt that it is a buyersí market in the upper brackets.

• The number of new contracts ratified in April 2009 was up 7.5% from the number of contracts ratified in April 2008. Note that the only price category with any consequential increase in activity was for homes priced less than $300,000.
• Contract activity for 2009 year-to-date is up just 1.9%.
• 41.3% of all homes going under contract in April 2009 had a price reduction before going under contract.

Today's open house - 5241 Bessley Place in Alexandria, Va. - is an enormous townhouse with 4 bedrooms, 3.5 bathrooms, a 2-car garage and a private patio. For those with discriminating tastes, this home has been impeccably designed.

Please join me today, Sunday, May 24th from 1 p.m. to 4 p.m. to have a look...

That's My 2 Cents' Worth!

Reality often has many more dimensions that that perfect story a reporter searches for and then writes - no offense to my journalist friends.

When searching for your home - be it a condo, coop, townhouse or single family home, be armed with your financial limits as well as your financial comfort zone. Then have your Realtor assist in finding the best bang for your buck - the neighborhood that most closely supports your home purchasing goals, including location, price and accommodations.

Prepare yourself for sellers that are every bit as savvy as yourself. Some will be unwilling to bend, while others might be willing to negotiate. When preparing an offer price, be reasonable. Rare is the seller willing to take a low-ball offer.

Lastly, should you find that perfect home with a seller unwilling to concede on price, be mindful that the home MUST undergo appraisal, many of which are still coming in below sale prices throughout the Washington Metro Region. If the sale price is $450k and it appraises at $435k, you stand a strong chance of getting the buyer to reduce the sale price to the appraised price as no bank will financing the home at a price above $435k.

There are many stories beyond that which are read or broadcast in the news media. It's your choice to pursue reality versus reality TV. The advice of this Realtor is to take the route of reality.

That's My 2 Cents' Worth!