Wednesday, October 26, 2011

Your want to be/continue to be a renter? Read this.

Renters Spending 5% More Than Home Owners

Daily Real Estate News | Wednesday, October 26, 2011

Rising rents are forcing renters to outspend home owners on housing costs, according to a new study.

Since 2005, home owners’ housing expenses have climbed from 31.9 percent of their household budget to 33.2 percent. On the other hand, in that same time period, renters’ expenses have jumped from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends.

In the last 26 years, home owners have increased the amount they spend on household expenses by 12 percent while renters have increased it by 22 percent, according to the study.

Earlier this month, Capital Economics economists noted that for the first time in 30 years the median monthly mortgage payment is about the same -- or less -- than the median rental payment.

Yet, with the bleak job market, home ownership rates continue to fall in many parts of the country, particularly among younger generations. CoreLogic found in its report that the home ownership rate for the 25-to-34 age group dropped from 51.6 percent in 1980 to 42 percent in 2010. For the 35-to-44 age group, home ownership rates fell from 71.2 percent to 62.3 percent over that period.

Source: “Renters Outspend Owners on Housing,” RISMedia (Oct. 25, 2011) and Capital Economics

Tuesday, September 20, 2011

Summer is over, this weekend!

Wow, summer went quickly. The pools are closed, but the fall colors are coming and so is the apple cider, pumpkins (PIE!), fall vegetables, and the LOWEST INTEREST RATES ever! And the tennis courts can now be enjoyed in this cooler weather.

Prices on Parkfairfax real estate are so buyer friendly; yet we're seeing tenants pay more and more for rentals. It's cheaper to buy and than rent. Check out http://www.parkfairfax.com/ for prices of "for sale" and "for rent" homes. After taxes on the buyers are the winners. However, there will always be tenants who want to pay for our mortgages. We try to help tenants become owners AND some of you are enjoying those benefits. No longer can your landlord move back and push you out; no longer do you have to restrict the colors of your living room AND you can now have the pet you've always wanted.





A stroll over to Shirlington's Signature Theatre or the movie theatre, is a nice hop from anywhere in Parkfairfax, and you never have to cross a busy street.





Renovations are now expected by people moving into Parkfairfax. The qualified buyers today would prefer to live in central air conditioning; have bath(s) from this decade and of course, a renovated kitchen. Occasionally we see buyers who wants to buy to renovate (best way to build equity) while living in the house.





For those of you with the older electric boxes; they're not getting past home inspectors in today's environment. Have them changed out and moved to your living room wall. Find a painting or print to hang over them, if you want!





We live in Parkfairfax by choice and choose to work here because we believe we can help bring the best in Real Estate to you. And we've proved that! This is our 12th year of being The #1 Realtors in Parkfairfax. Thank you!!! Please refer us to your friends, relatives and co-workers who want to buy or sell real estate. We enjoy working in DC and all over N. Virginia. If you're moving to another area, we refer only the BEST Realtors all over the world.

Monday, August 15, 2011

August 20th-Bluegrass on Coryell at Parkfairfax, Sat. Aug 20th 7-9pm. Just one of the wonderful community aspects of living in Parkfairfax in the summer. Come on! Join us! Those of us who love the trees, the forested areas (and our pets), are really enjoying The Park. We're so close to the hustle, bustle of the city; yet we have our on little sanctuary here in Parkfairfax.

I highly encourage any of you who are renters to consider buying NOW in Parkfairfax.......or just call us if you have interest outside The Park. With interest rates at Historic lows; why are you waiting? You'll wonder why you didn't buy during this time and there are some VERY nie properties "on the market" for sale.

We enjoy working in DC all the way out to Reston. Please feel free to ask you neighbors about The johnANDjohn TEAM. We have an excellent reputation here and throughout the Realtor Community. Other Realtors WANT to work with us. We have qualified buyers and sellers who want to sell!


Tuesday, July 19, 2011

Summer's here and it's hot as a Cat on a Hot Tin Roof

Weather here is much like Rome, Italy. Just returned from a cruise from Barcelona, to Tunisia, ports near Rome and Florence, then to En Province in France. It's nice to be back in Parkfairfax. It's green, breezy, not too close to the monuments AND the employment is higher in the DC metro area. The johnANDjohn TEAM is aware there are many that are economically challenger, including people very close to us. I'm sure you're aware of those miliary families & support staff who have loved-ones living in danger. We're going to have an entire generation of people who were involved with war AND we need to be ready, financially and mentally to help.

This is one reason why home ownership is so important. Why pay someone's mortgage other than your own. Sure, some of us own properties that are worth less than we paid. This is normal in every generation of home ownership. Guess what, like the weather in Washington, this will change. Hold on to your properties, if possible. You'll be happy you did. How much longer until properties are worth more than they were? 2 more years, 3? What do you think?

For you tenants in Parkfairfax, please call The johnANDjohn TEAM where you're ready to buy; in Parkfairfax or outside. Experience is key in this market. Not that I'm not proud to have tenants in my clients' rental properties; but BUY while the interest rates are so low.

Even with 20+ properties for sale at this time; there are few compared to the 1600+ units in Parkairfax. You have a choice! Take advantage!!!

Tuesday, April 26, 2011

Springs Eternal

Yes, loans are being processed for Parkfairfax homes for sale/or refinance. Call us 703-820-9723 before you have a problem. We've been able to SETTLE every home that we've sold in Parkfairfax this year. Buyers are choosing those homes that have been renovated most highly. For example , we closed on a Madison in the $360K's! The more renovated your home is, the more quickly and for higher $$$ will it sell in today's marketplace. If the home needs remodeling, do it and enjoy it if you can. We want you to get top dollar for your home and will do what has to be done to get it sold for you. And for those of you who want to buy. We know Parkfairfax, no one knows it better.

The green of Parkfairfax is overwhelming this year. And the blooming trees and shrubs have been at their peak for weeks. The beauty of our home just gets prettier, more convenient, more pedestrian and pet friendly day by day.

Thank each of you for your patronage. We appreciate your loyalty. Call us anytime. We're available 7 days per week!

Wednesday, February 2, 2011

10 Cities Where Home Prices Will Rise in 2011 -
While home prices are expected to continue to fall in most metro areas, Clear Capital’s Home Data Index report says a few cities are already on the rebound and showing some gains in home values. “There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” Alex Villacorta, senior statistician at Clear Capital, told MSNBC. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”Clear Capital takes into account unemployment rates, foreclosure rates, and real estate inventory in its index.The following is a list of 10 cities that Clear Capital expects will rise in property value in 2011:
1. Washington, D.C.: 6.5 percent price increase
2. Houston: 3.6 percent price increase3. Honolulu: 3.4 percent price increase4. Memphis, Tenn.: 3.2 percent price increase5. Columbus, Ohio: 2.1 percent price increase6. Dallas: 1.4 percent price increase7. New York: 1.3 percent price increase8. Birmingham, Ala.: 0.9 percent price increase9. Pittsburgh: 0.8 percent price increase
10. New Orleans: 0.5 percent price increaseMeanwhile, Clear Capital reports that real estate markets in Florida and the Western parts of the U.S.—such as cities in Arizona and “Breadbasket metros” likeOklahoma City, Okla., and Dayton, Ohio—likely will see the largest price drops in home values over the year. Virginia Beach, Va., is expected to have the highest drop in 2011, with a 12.8 percent price decrease, according to Clear Capital report. Source: “Where Home Prices Will Rise, Fall the Most in 2011,” MSNBC (Jan. 26, 2011)


It's exciting news that the DC area is projected to have the largest HOME price increase in 2011. Is everyone ready? I see this as bargain time. I've been searching for the best bargains outside of Parkfairfax. Call The johnANDjohn TEAM at 703-820-9723 or email us at johnANDjohnTEAM@johnANDjohn.net or johnANDjohnTEAM@Parkfairfax.com There are some bargains IN Parkfairfax; but the majority of you reading this want to move on; so I've done the work.

Tuesday, January 18, 2011

Want your home sold more quickly?

10 Staging Tips To Get Your Home Sold Faster

1. Depersonalize the home by removing family photographs, memorabilia, children’s art projects, sports gear and collectables; anything that would distract a buyer. The purpose of the buyer’s visit is to engage with the home, to “try it on”. It is difficult for buyers to visualize their belongings in a home that is filled with personal items. Less is best.

2. Remove large pieces of furniture that make a room feel crowded. Rent a storage unit or POD if necessary so that you can make the rooms feel spacious. Arrange furniture so that rooms feel open and bright and walk ways are generous. Imagine what the room will look like when photographed. Will it look like a magazine photo? If not, remove more items. The buyer will most likely see the photographs first, so this is an important task.

3. Stage each room so that the buyer knows its purpose. For example, if you are currently using your formal dining room as an office, remove the desk and replace it with a dining table and chairs so that the buyer isn’t questioning the floor plan. Add a few decorative items that add a pop of color and pizzazz.

4. De-clutter countertops, closets and cabinetry. Clean countertops and closets so that they have the bare minimum. Arrange items in the cabinets so that they are well organized. Buyers will open closets and cabinets and make a judgment about the maintenance of the home accordingly. If items are neatly arranged and orderly, they will infer that the home has been well maintained.

5. Go room by room and check paint on walls and baseboards. Make any necessary repairs to sheetrock. A thorough cleaning and a fresh coat of a neutral paint will make the room feel and smell fresh. Clean carpets and flooring so that they sparkle. Replace worn carpet if necessary.

6. Lighten and brighten rooms so that they look large and happy. Replace light bulbs with new ones, avoiding the low wattage energy efficient ones. Remove heavy window coverings. Clean blinds and shutters. Clean windows inside and out so that nothing obstructs the light and views from the windows. Trim trees or shrubberies that interfere with the light.

7. Make minor repairs like re-caulking tub and shower, fixing dripping faucets, changing AC filters, balancing a ceiling fan, or any other repair that indicates that the property is well-maintained.

8. Remove any evidence of pets or animals, especially litter boxes and bedding. Pay close attention to and eliminate pet odors. Bad odors are always deal breakers.

9. Check the drive up curb appeal of the home. Mow the grass; weed, edge and mulch flower beds. Add some colorful perennials around the front of the home. Cut back or remove overgrown shrubbery. Trim trees. Place colorful pots of flowers by the front door. Check the exterior paint. Repaint the front door and replace old hardware. Remove toys and sports equipment. In winter months, consider sowing winter rye grass so that the yard pops with color when all the others are brown. If a home does not have curb appeal, the buyer may never come inside.

10. Give the home warmth and a touch of pizzazz. Spruce up the bedrooms with new bedspreads and some new pillows. Hang fresh towels in the bathrooms tied with ribbon or bows and remove toiletries. Replace worn mats and rugs. Add a large mirror over a dresser or low piece of furniture to add depth to a small room. Set the dining table with china. Check with a design professional for decorative touches that can add charm and highlight the special features of your home.

"What if I can't do these things, you might ask?" Expect a longer time on-the-market AND a lower price. This is today's marketplace! We'll help you!!