November 20, 2019
In this post, we provide a brief outline of some of the up-front costs associated with buying a home. Here’s a rundown of the outlays. Earnest Money Deposit After making an offer and coming to an agreement with the home seller, a buyer is generally expected to pay 1 to 3 percent of the purchase price immediately. This earnest money deposit is held until the closing when it becomes part of the down payment. If the buyer backs out of the deal unexpectedly, the seller keeps the money. If the deal falls through due to a contingency that was previously […]
November 13, 2019
DC’s housing market is full of houses and condos that have been recently renovated by developers. The quality of these renovations varies greatly, and we wondered if there was a way for house hunters to tell the good renovations from the bad. Martin Ditto has done his share of renovations while developing houses and multi-family buildings through his company Ditto Residential, and he gave us a few pointers. These tips are not foolproof: a home may have fancy appliances but shoddy workmanship where it counts, or be well done throughout but have mid-grade fixtures. Still, here are ten tips that […]
June 6, 2017
Central Properties is kicking off summer with the second installment of the Central Artist Series: Local, Emerging, Vibrant Art Show featuring the work of local artist, Paula Checkosky. Paula’s work graces the walls of Central Properties following the work of fellow abstract artist, Bradley Gay. The Art Show will take place on Thursday, June 22nd from 5:30-7:30 at Central Properties, located at 1353 V Street NW. There will be appetizers, libations, and a chance to meet the artist and mingle with other art enthusiasts. The event is free and open to the public. The Central Artist Series began with the […]
May 10, 2017
Why be concerned about buyers in a sellers’ market? Two reasons: Today’s buyers become tomorrow’s sellers and, clients and customers are more willing to share a “bad” experience with others looking to buy or sell. Recently, I came across an article from a year ago, 3 Tips for Homebuyers in a Fast-Paced Real Estate Market by Andrew Fortune. It helps focusing on what needs to be done in a market like the one we have today. The first two tips – “Set up instant property alerts,” and “Move fast” are hallmarks of all of you seasoned agents. The third tip […]
December 24, 2016
When you apply for a mortgage, every point in your credit score matters. With DC real estate prices, even a small increase in your interest rate can cost you tens or hundreds of thousands of dollars. Here’s what you need to do to polish your credit report to get the best score and interest rate possible. Review Your Credit Reports as Soon as Possible Review your credit reports well in advance of when you plan to apply for a mortgage so you have time to fix any errors. Common errors include the credit bureau mixing up consumers with similar names […]
December 5, 2016
When people discuss green living, they’re referring to a lifestyle based on conservation and recycling; more and more people are becoming interested in what this lifestyle has to offer. According to DC MLS system provider MRIS.com, green living is in demand in today’s real estate market. Using Solar Panels to Generate Cash Anyone looking to buy a house in DC will prefer a property with solar panels, for the rebates and the reduced bills. The federal government offers a tax credit that would equal 30 percent of the value of your solar panels after you have them installed. It should […]
November 28, 2016
When you’re helping people buy and sell houses for a living, you must be a well-connected member of your community. In addition to having ample knowledge of your area so that you can answer sellers’ and buyers’ questions, you also want to have connections with other realtors and real estate professionals. These relationships are mutually beneficial, allowing you to share leads, connect home buyers with their dream home, and ultimately sell more real estate. Follow these tips to network with other real estate professionals, and enjoy the success that comes along with these new relationships. Join an Organization Look for […]
November 17, 2016
The offer has been accepted, the inspections are underway and your buyers are preparing for closing on their new home. Unfortunately, hiccups in the closing process can delay or even halt the purchase, which can disappoint your clients and frustrate you. Walking your buyers through the closing process ensures that they have the paperwork and financial records to expedite closing. Follow these tips to make your next closing a smooth one. Work With a Lender You Trust While you don’t have the final say on which lender your client chooses, you can steer him or her toward a trustworthy lender […]