capital area realtor®: the official newsletter of the greater capital area association of...

Inside This IssueAssociation News ......................................page 3

Ask the President .............................page 4

GCAAR in the News ...................................page 4

Broker/Manager Forum ...................page 4

NAR Director’s Report ......................page 5

GRI Graduates .................................page 6

Committee Spotlight ..........................page 6

Technology.......................................page 7

ABCs of Real Estate .........................page 8

International Seminar ......................page 8

GCAAR Cares ...................................page 9

GCAAR Housing Fair .........................page 9

Leaky Roof Happy Hour ....................page 9

Education Schedule ...............................page 10

Reverse Mortgage ..........................page 11

YPN Networking Cruise ...................page 11

Public Policy ............................................. page 12

Market Reports ..............................page 14

RPAC Update .................................page 16

Quiz ................................................................page 17

Green Resources ............................page 18

July - August 2011 USPS: 017-467 Volume 17, Number 4 www.gcaar.com

Check www.GCAAR.com regularly for the latest updates!

Capital area realtor®

The official newsletter of the Greater Capital Area Association of REALTORS®

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GCAAR is pleased to name Brenda Small as its REALTOR® of the Year for 2011. Brenda is currently Associate

Broker and Manager of Prudential Carruthers REALTORS®, Uptown Branch, in Washington, DC.

Brenda is a former GCAAR president and board member and is also the Immediate Past President of the Washington, DC Association of REALTORS® (WDCAR). She has served on a number of national, state, and local boards and committees, including the National Association of REALTORS® Board of Directors Local Representative and Federal Housing Policy Committee; the Maryland Association of REALTORS® Board of Directors, Issues Mobilization, and Nominating Committees; and the WDCAR Board of Directors, Public Policy, Grievance, and Cultural Diversity Committees, and its Education Advisory Group.

As a GCAAR member, Brenda has been an active participant on a number of committees, including Chair of the Public Policy Committee (2008, 2006,

2005), the Leadership Development and Advisory Group, and Nominating Committee.

Among her many civic activities, Brenda has been a speaker for the Greater Washington Urban League and Home Free USA first-time home buyer seminars for many years, and actively supports Hannah House, Sunshine Kids for children with cancer, and Fannie Mae’s annual Help the Homeless Walkathon. Currently, she is mentoring a single mother of four who is working on her GED diploma.

“When you think of Brenda, leadership, professionalism, and commitment to excellence immediately come to mind. She brings 100 percent to everything she does, whether it’s writing a real estate contract, educating first-time home buyers, or mentoring at a women’s shelter. She epitomizes the best of our Association,” says Adrian Hunnings, 2011 GCAAR President.

As Brenda aptly says, “service and giving are a personal commitment and a significant aspect of my life’s purpose and work.”

Brenda Small Named 2011 GCAAR REALTOR® of the Year

REALTOR® Fest Scores Big! Over 400 attendees enjoyed a day of informative classes, networking, great food, and more at the 2011 REALTOR® Fest on July 11, at the Bethesda North Marriott and Conference Center. Attendees had the opportunity to get up to nine hours of CE credits and they took full advantage of it!

The caliber of classes offered sparked rave reviews. As Isabel Curtis-Crouch of Ivan Realty remarked, “I have taken a lot of courses, but I have to say that the Reverse Mortgage Update was one of the best

classes I have ever taken. I was ready to get out of the reverse mortgage business altogether because the process was so confusing, however, after leaving Eric Rittmeyer’s class, I am ready to go out and start doing that business again! Thank you GCAAR for putting together such a great day of learning.”

Attendees packed the trade show, winning a bevy of fabulous door prizes provided by the vendors. Big winners included Vivian Portis, who won the 60” 3-D TV courtesy of MRIS, and Harold Levy, who won an iPad courtesy of Embrace Home Loans. GCAAR’s committees were also in full force providing information and prizes.

Special thanks to all of our sponsors, attendees, and GCAAR committee members for making this year’s REALTOR® Fest a rousing success. We look forward to seeing you again in 2012!

See REALTOR® Fest pics on page 3.

Serving the Business Needs of OUR Professionals2011 July-August Capital Area REALTOR®2

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Serving the Business Needs of OUR Professionals 2011 July - AugustCapital Area REALTOR® 3

Need a Space to Hold Your Next Event?Did you know that GCAAR’s classroom space in the Silver Spring office is available for rent? Our classroom provides ample space for large groups and can be partioned to accommodate two events simultaneously. The Silver Spring office is easily accessible by car or Metro and public parking is close by. For pricing information, contact Charmaine Flanagan, Director of Programs, at [email protected] or give her a call at (301) 590-8787.

2011 Board of Directors

PresidentAdrian Hunnings

President-ElectBonnie R. Casper

SecretarySilvia Rodriguez

TreasurerWilliam H. Highsmith Jr. , JD, GRI

Immediate Past PresidentShelly Murray

Chief Executive OfficerMichael Moran

DirectorsCuvator “Q” Armstrong

Edward DownsGreg Ford

Mynor HerreraWilliam Hounshell

Ellen KatzFred Kendrick

Eleanor “Elley” KottMichael McGreevyObiora “Bo” Menkiti

Gerard “Gerry” OcchiuzzoPrabhjit Singh

EditorBobette Banks

Advertising RepresentativeArlene Braithwaite

Capital Area REALTOR® (USPS 017-467) is published four times a year (Q1, Q2, Q3, Q4) by the Greater Capital Area

Association of REALTORS®, 8757 Georgia Avenue, Suite 600, Silver Spring, MD 20910. Periodicals postage paid at Silver Spring, MD. Member subscriptions account for $10 of each

member’s annual dues. Annual subscriptions are available to non-members for $25. Subscription inquiries may be sent to

Capital Area REALTOR® at the above address. Copyright© 2009 by the Greater Capital Area Association of REALTORS®. All

rights reserved.

POSTMASTER: SEND ADDRESS CHANGES TO CAPITAL AREA REALTOR®, ATTN: GCAAR, 8757 GEORGIA AvENUE,

SUITE 600, SILvER SPRING, MD 20910.

The Greater Capital Area Association of REALTORS® makes no warranties and assumes no responsibility for the

accuracy of the information contained herein. The opinions expressed herein do not necessary reflect the opinions of

the officers, directors or staff of the Greater Capital Area Association of REALTORS®.

The Greater Capital Area Association of REALTORS® accepts submissions of articles and photographs and remains the

property of the Capital Area Association of REALTORS®. The publisher reserves the right of full editorial authority

and to decline publication of any article not deemed proper. Deadline for all submissions, including camera-

ready advertising on disk or film, is the first of the month prior to publication. Reprint with permission only. Reprint

permission may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301.590.2000; via fax at 301.590.2248; or via e-mail at [email protected].

REALTOR® is a registered collective membership mark that identifies and may be used only by real estate

professionals who are members of the National Association of REALTORS® and subscribe

to its Code of Ethics.

AssociAtion news

GCAAR Past President Holly Worthington gets ready for class

GCAAR 2011 President Adrian Hunnings and Events Committee Chair Sara Demb Goldstein announce the door prizes

Neal Feinberg of MRIS with

60” TV winner Vivian Portis

Bill Rozek from Embrace Home Loans with iPad winner, Harold Levy

GCAAR is on Twitter! Did you know that GCAAR is now on Twitter? Follow GCAAR on Twitter for all up-to-the-minute information on news, events, classes and real estate happenings. Not following us yet? Point your Smartphone towards the code below and select Sign Up when you get to the GCAARNow page.

www.twitter.com/GCAARNow

The MD/DC Chapter of the CCIM (Certified Commercial Investment Mem-ber) Institute recently rented the GCAAR classroom to hold its week-long education series.

Highlights


GCAAR in the NewsNationwide Open House Weekend Gazette Newspapers, June 1, 2011

Less Time in the Car High on Buyer’s ListThe Washington TimesJune 16, 2011

“When people talk about ‘location,’ they are really referring to the convenience of access to things like public transportation and a nice grocery store.” - Suzanne Des Marais, GCAAR Member / 2011 WDCAR President

Real Estate Bidding Wars are Back in Parts of DC AreaThe Washington PostJune 24, 2011

“Most of my scenarios involve perhaps two to four bidders and anywhere from $5,000 to $20,000 extra, depending on the price range of the property, although one seller got more than $70,000 more with only three buyers in competition.” -Valerie Blake, GCAAR Member

During the boom, “escalation clauses were all over the place...it was a moving target, and appraisers knew it was a moving target. Now buyers are much more cautious with escalation clauses.” - Bonnie Roberts-Burke, GCAAR Member

“It’s difficult for people to go much over the asking price because of the lack of financing... today, the question is: how much over the price can you go before you run into problems with the lender?”- Fred Kendrick, GCAAR Member

Finding Affordable HousingNews Channel 8 - NewsTalkJuly 8, 2011

“You’ll find that it’s a very good time for buying... with the combination of low interest rates and the fact that we’ve hit a tipping point in many of our markets...DC leading the charge...housing is much more affordable then it has been in the past.” - Mynor Herrera, GCAAR Member

Details on LeDroit ParkThe Washington PostJuly 15, 2011

“In the past 12 months, three single-family houses sold, at prices ranging from $420,000 to $750,000, according to Suzanne Des Marais of Urban Pace Real Estate.”

Adrian Hunnings 2011 GCAAR

President

The Greater Capital Area Association of REALTORS® Supports Nationwide Open House Weekend June 4 & 5Your local REALTORS® will be hosting hundreds of open houses this weekend. Unlike many other parts of the country, the real estate market in Montgomery County is coming back.

In Montgomery County in April 2011*:Average Sales Price: $436,5372.7% above April 2010 average of $425,250Current Inventory: 3 months

If you are new to the area, or are just finally ready to buy, contact a local REALTOR® today to explore all of the housing options the Washington metropolitan area has to offer.

Find a REALTOR® at www.gcaar.com*Statistics provided by RealEstate Business Intelligence.

(301) 590-2000

SEPTEMBER 21“Are You and Your Marketing in Compliance?”

Speakers: Chuck Kasky, Esq., Maryland Association of REALTORS®Michelle Yam, Compliance Manager, MRIS

Time: 12 p.m. Location: GCAAR Rockville Office

9707 Key West Ave, Suite 200, Rockville, MD

OCTOBER 12“What Documents Do You Need to Have Signed

and Retained to Protect Your Agents and Your Company”Speaker: Tony DeVol, Esq.

Time: 12 p.m. Location: GCAAR Rockville Office

9707 Key West Ave, Suite 200, Rockville, MD

NOvEMBER 9“All You Need To Know about Procuring Cause”

Speaker: TBATime: 12 p.m.

Location: GCAAR Silver Spring Office 8757 Georgia Ave, Suite 600, Silver Spring, MD

Broker/Manager Forums are free events. Lunch will be served for registered attendees.

Register online at www.gcaar.com

2011 GCAAR Broker/Manager ForumsMark your calendars now to attend one of the Broker/Manager Forums in 2011. These monthly events provide a wealth of information to help brokers in all aspects of the business - from running a more efficient office to the latest updates in the real estate industry.

Save

the

Dates!

Ask the PresidentAdrian Hunnings2011 GCAAR President

Question: Why do I still get a paper newspaper from GCAAR?

Answer: Ah, good question! Many folks would like to only get material by electronic means, e-mail, text, etc… and we do a great

deal of that too, from our electronic billing, event notices, and class registrations, to our weekly electronic newsletter, GCAAR’s Newsline. It’s good for the environment and it cuts our costs.But e-mail is not perfect. Number one we don’t have everyone’s e-mail address and even when we do send e-mail material it’s more often than not immediately deleted. We still suffer from “REALTORS® don’t READ!” We find that folks respond to a number of media, and chief among them is that old standby - print. So we communicate over a spectrum, e-mail, letters, text, Facebook, Twitter and newsprint. With that mix, we’ve found that GCAAR gets the maximum exposure to its membership.

So enjoy your newspaper, and recycle when you’re finished, except of course this column!


NAR Director’s ReportSilvia Rodriguez, GRI,CIPS,TRC, AHWDNAR Director

The housing industry is under heavy attack by the media and misinformed legislators. Those negative forces are eroding the many housing programs and benefits obtained over the years. REALTORS® are working more hours while facing the frustrations that come with

short sales, foreclosures, credit restrictions, new rules, and the lack of lending stability.

REALTORS® benefit from the lobbying efforts conducted by the National Association of REALTORS® (NAR) as well as by the state and local associations to protect our industry. NAR is working to eliminate restrictive unreasonable laws, preserve the mortgage interest deduction, and protect reasonable down payments.

NAR needs your help! Protect your business by becoming a RPAC investor. Respond to the Calls for Action! Contact your legislators! The Association needs your RPAC investment to protect our real estate business.

You’ll be amazed to learn all the resources and benefits that your membership provides. Just visit NAR’s web site, www.realtor.org. In addition to group or reduced rates for health, dental, car, and home insurance, you’ll find information about financial resources like the REALTORS® Federal Credit Union, professional development, office solutions, technology, and a great virtual library of ebooks, videos, and social networking tools.

NAR also offers professional tools to enhance our success. The new Broker Price Opinion (BPO) certification compliments the Short Sales and Foreclosure certifications. The CIPS®, ABR®, GREEN and other designations provide us with the level of education required to address the needs of today’s clients.

Enjoy all the Association resources and benefits offered to you on the national, state, and local levels. Be an active member. Volunteer to serve on committees. Join NAR’s partners, such as the Women’s Council of REALTORS® (WCR). Make plans now to attend NAR’s Annual REALTORS® Conference & Expo November 11 - 14 to get a comprehensive view of our real estate industry.

I want to thank you for giving me the opportunity to serve on the NAR Board of Directors. It is a privilege and a unique professional experience. Mil Gracias!!

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Adams Morgan,

Adams Morgan $290,000

CONDO. 2 br, 1 ba, 822 sqft. Rarely available, adorable 2 BR! Tons of character, huge windows, completely reno-vated! Granite and stainless kitchen w/hardwood floors! Beautiful bath w/full size tub! Immaculate and avail-able immediately! Condo fee includes water & heat! 1831 Belmont Rd NW #204, DC 20009

George Saab (703) 288-4877


CONDO. Welcome Saxony. This is a stunning and reno-vated 1BR 1BA unit that is is within walking distance to the red line Metro, restaurants, shops and grocery stores. 1801 Clydesdale Pl, NW #206.

Nathan Guggenheim


CONDO. 2 br, 2 ba. Grand Dame of Washington “Best Addresses” Very light and airy renovated 2BR, 2BA with loads of windows. Gourmet kitchen with upgraded cabi-netry, granite and tablespace. Plenty of built-ins. 1661 Cres-cent Pl NW #304, DC 20009.

Sheila Hansen


CONDO. 2 br, 2 ½ ba, 1,550 sqft. Spectacular open 2 level condo with great views, GARAGE parking and extra storage! Floor to ceiling win-dows, 2 masters bdrooms, 2 zone audiosystm thruout, 42’ flatpanel, bay window in living room and 2nd master bedrooms, custom plantation shutters, granite kit high-in appliance, wine cooler, mar-ble bathrooms and full size separate washer and dryer. 2200 17th St NW #220, DC 20009

Dwight Mortensen 202-361-4400

American University

American Univ. $879,000

Single-Family Home. 4 br, 2 ½ ba. Antique brk 4 bed-room, 3 level, 2.5 attractively renov Bath Cape Cod. Gor-geous true t/s + breakfast bar, granite, SS, sitting room w/ Fr doors to wonderful priv patio & lovely garden! Large LR, handsome extra-wide fire-place, sitting room w/French doors, formal DR, foyer. 4605 47th St NW, DC 20016

Susan Jaquet 301-320-8346


Single-Family Home. 4 br,3 ba. Fresh new listing in the heart of AU Park. Move in cond. 4 finished levels of liv-ing space incl 2 full baths up! & 3 br + 4th/study on upper lvl 2. Welcoming wide front porch, level fenced playball yard, garage/storage. 4626 47th St NW, DC 20016



Single-Family Home. 4 br, 3½ ba, 999 sqft. Premier AUP 4BR, 3BA col. Huge DR! Huge lower lev with fab stone fp, BR, BA, bonus rm, sep entr! Gorgeous large lot! As is. SS/granite kit just renov. 4615 Van Ness St. NW, DC 20016.

Tracy Carol 202-111-2222

American Univ. $699,000Single-Family Home. 3 br,1½ ba. Solid red brick colonial on level lot located 1 block from Turtle Park and close to Spring Valley shopping. Bright cheery sun room. 4513 War-ren St NW, DC 20016.

Margaret Virostek 202-000-0000

Brightwood

Brightwood $262,000

Mobile/Manufactured. 3 br, 2 ba, 3br, 2fb, 1 den, 2 kitch-ens, lower level has its own kitchen, full bath, den and outside entrance. hardwood floors on main and upper lev-el, carpet and tile lower level. 6415 8th St NW, DC 20012

George Saab SAAB, Realtors 703-288-4877

Brightwood $248,000

Single-Family Home. 4 br, 2 ba. Presented by the REO Division of Brandon Green. Completely rehabilitated property sitting on a quiet street in the NW. Fully reno-vated from the ground up. New windows and hardwood floors. 710 Roxboro Pl NW, DC 20011.

Brandon Green 202-111-2222

Brightwood $149,000

CONDO. 1 br, 1 ba, 510 sqft. Welcome Home! The Concord is a wonderful new condo proj-ect with upgraded finishes and great location! This is a very cool Art Deco building with hardwood floors, granite coun-tertops, stainless steel appli-ances, and designer cabinetry. 5611 5th St NW #24, DC 20011.

Jeremy Aldridge 202-111-2222

Brightwood $435,000

Single-Family Home. 3 br, 2½ ba.Fabulous Art Deco Tudor w New Pella Windows(cost $35.0) Dramatic flr plan w sunken livingroom/fireplace, spacious diningroom w glass doors open to large deck(Cost $14.0) w custom wrought iron/architectual motif.. 6105 14th St NW, DC 20011.

Dianne Bailey 202-000-0000

Cleveland Park

Cleveland Park $249,000

CONDO. 1 br, 1 ba. If you’ve been looking for a lrg afford-able apt in GREAT shape, w/good light & privacy that’s an EZ walk to Metro-this is it. Wonderful HWF, beautiful renv’ted Kitchen. 4600 Con-necticut Ave NW #113, DC 20008.

Mary Lowry Smith 202-000-0000

Cleveland Park $1,395,000

Single-Family Home. 3 br, 2¼ ba. North Cleveland Park

semi-detached home near Tenleytown and Van Ness met-ros. Three bedrooms and 2.25 baths with four levels of which three levels are finished. This lovely home is aggressively priced and is in need of some updating. The main entry has a foyer and front porch. 3703 Windom Pl NW, DC 20016.

Mary Jane Molik 202-000-0000

Cleveland Park $479,000

CONDO. 2 br, 1 ba. Shows like a dream! Redone from top to bottom! Fabulous Top-of-the-line Chef's Kitchen! Renovated Bath! Hdwd Flrs, Decorative FP! New Win-dows! Pets allowed! Front Desk, Close to (Metro Red Line). 4700 Connecticut Ave NW #404, DC 20008.

Eric Hernandez 202-000-0000

Columbia Heights

Columbia Hghts $324,000

CONDO. Bright open 1 Bed-room + Den, 4th floor with new kitchen, new bath, new heat pump, hardwood, stain-less refrigerator with icemkr, ss stove, dishwasher, micro-waveRH, full size washer/dryer. Quiet one way street in Col. Hts. Converted co-op, long time residents. 1447 Chapin St. NW #401.

Margaret Virostek 202-000-0000

Weichert, Realtors

Columbia Hghts $315,000CONDO. 2 br, 1 ba, 1,058 sqft. LOCATION... see this opportunity to invest in a beautiful Columbia Hghts area. 1519 Park Rd NW #303, DC 20010.

Ken Johnson DCRealestate.com

Columbia Hghts $599,000

Townhome. 4 br, 3½ ba. Wow! this row twnhse w/ basement rental apt is smartly renov. & remod.. House has tenant planning to move out in jan 2010. apt is vacant. house incl off st pkng, deck, wood flrs, ss appliances & maple kit cabi-nets, gas fireplace, high ceil-ings & open floor plan. 2719 11th St NW, DC 20001.

Helen Dodson 202-000-0000

Dupont Circle

Dupont Circle $1,299,000

Multi-Family Home. Great investment opportunity! Three 2 BR,2BA units w/2 pkg spaces all metered separately w/reliable rent history. Upper two units have hwd floors; lower rear unit has ceramic tile flooring and is all electric. 1748 Willard St NW, DC 20009.

Steward Coleman 202-841-2836

Dupont Circle $1,699.900Townhome. 3 br, 3½ ba, This grand, contemporary home offers truly breathtaking di-mensions, light &; function rarely found in such an urban location. contemporary home offers truly breathtaking di-mensions, light &; function rarely found, designed by a renowned architect to show-case art, it has display spaces, premium lighting, interesting built-ins, angles.. 2022 R St NW, DC 20009.

John Plank 703-528-5646

Dupont Circle $1,385,000

Townhome. 4 br, 3½ ba. NEW PRICE! Beautiful Square Front Victorian Townhouse on tree-lined block in West Dupont Circle. Four renovated flrs of elegant entertaining princi-pal rms, comfortable Living Spaces, updated Gourmet Kit w/ Island, hardwood floors & high ceilings thru out & 5 pe-riod fireplaces. Located only 1 block from Starbucks. 2031 O St NW, DC 20036.

Wlliam F.X. Moody 202-243-1620

Dupont Circle $199,900

Townhome. 1 ba FANTASTIC PRICE REDUCTION! Pent-house Studio at Northum-berland. Charming and bright Penthouse Studio with Mur-phy bed unit- which conveys. Red and white oak floors with mohagany inlays. 9’+ ceilings. Kitchen with break-fast bar. Old world charm, formal,elegant residence. Conveniently located steps from 16th and U Streets. 2039 New Hampshire Ave NW #707, DC 20009.

Jim Bell 202-607-400

Dupont Circle $269,900CONDO. Great location at 16th and U st!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. 2000 16th St NW #2, DC 20009.

Erich Cabe 202-320-6469

Dupont Circle $269,900Townhome. 1 ba FANTASTIC PRICE REDUCTION! Pent-house Studio at Northum-berland. Charming and bright Penthouse Studio with Mur-phy bed unit- which conveys. Red and white oak floors with mohagany inlays. 9’+ ceilings. Kitchen with break-fast bar. Old world charm, formal,elegant residence. Conveniently located steps from 16th and U Streets. 2039 New Hampshire Ave NW #707, DC 20009.

Jim Bell 202-607-400

Foggy Bottom

Foggy Bottom $370,000

COOP.1 br, 1 ba, 904 sqft. Spacious Watergate 1 bed-room overlooking in a quiet garden/courtyard setting. Floor to ceiling windows and balcony. Over 900 square feet. Parking and extra stor-age is included. Coop fee INCLUDES taxes, all utilities, maintenance of HVAC, basic cable. Convenient location -Near metro, Georgetown waterfront, shopping on site and more!

Gigi Winston 202-000-0000

Winston Real Estate

Foggy Bottom $370,000COOP. Large, spacious 2 bed-room at the Watergate. Bright and sunny with balcony across entire apartment.


Winston Real Estate

Foggy Bottom $998,000COOP. 2 br, 2½ ba, 1,880 sq. ft. Bright direct river view 2 bedroom. Watch river and sunsets from every room. Al-most 1900 sq. ft.

Judith Lewis 202-000-0000


CONDO. 2 br, 2½ ba, 2,106 sqft. Bright & spacious 2 bedroom, 2 1/2 bath at the Plaza. Over 2000 square foot open floor plan- dining/den area w/ balcony access, large open updated chef’s kitchen w/ granite counter-tops. 800 25th St NW #703, DC 20037.

Gigi Winston202-000-0000

Winston Real Estate

Foggy Bottom $595,000COOP. The spacious feel of a house in convenient one level river view Watergate. 700 Hampshire Ave NW #421, DC 20037.


Foggy Bottom $355,000CONDO. The spacious feel of a house in convenient one level river view Watergate. 700 Hampshire Ave NW #421, DC 20037.

Kim Kimmy 202-000-0000


COOP. 1 br, 1½ ba, 1,295 sqft. Spacious and bright one bed-room, 1 & 1/2 bath on high floor with cityscape view. As large as many 2 bedrooms! Note: coop fee INCLUDES property tax and utilities. Great Watergate location with many amenities. 2700 Virginia Ave. #1204, DC 20037.


Winston Real Estate


Single-Family Home. 2 br, 1½ ba. Super charming townhouse on a quiet side street in convenient Foggy Bottom. 5-minute walk to Metro,Georgetown, West End. 2524 I St, DC 20037.

Judith Lewis 202-000-0000

Logan Circle

Logan Circle $269,900Townhome. 3 Level 2 Unit building in near metro & shopping. Updated homes but you can do your own touch ups. It is Ready to be Move in. It has Hardwood flooring and many other updates.2 BR sec-ond floor and one bath room. The basement is separate unit and can use as additional rental income or else. One block a way from new devel-opment of O ST Market

Wendy Wood 202-000-0000


Apt/Condo/Twnhm. PRICE DROP! OPEN HOUSE SUN 11/29 1-4 Over 1000 sq ft 1br + huge den w/closet/2ba chic pad in famous Whitman incl pkng, balcony, 50k of cstm de-cor, wired 4 sound, mrble grn-te Braz Cherry hdwd, stnlss, glass, never-used kitchen, lndry rm, glss shwr, lux tub.

Wendy Wood 202-000-0000

Brentwood

Brentwood $699,000

CONDO. 2BR 2BA. Gourmet Kitchen with Wood Floors, Granite Counters & Backsplash & Stainless Steel Appliances - Stackable washer & dryer in unit - Luxury building with ex-ercise/fitness room. 4301 Mili-tary Rd. #606, DC 20015.

Wendy Banner 301-365-9090

Brentwood $825,000

CONDO. 2 br, 2½ ba, 1,700 sqft. MODEL 1348 TALBERT *FHA APPROVED* O 2Br, 2.5 Ba, gated, patio overlooking the entire city, Balcony off Gourmet kitchen, breakfast bar, granite, Stainless steel appliances, tons windows , tons of light, Central A/C & Heat with Humidifier & elec. air filter, tranquil. 1384 Talbert Ct, DC 20020.

1-800-000-0000

Brentwood $824,900

CONDO. 2 br, 2 ba, 1,114 sqft.NEW LISTING! *Second bed-room currently used as a den.* Experience the ultimate in comfort, convenience, and service is this charming 2 Bedroom, 2 Bath Residence at the Ritz Carlton condo. 1111 23rd St NE #3G, DC 20037.

Patrick Chauvin 202-243-1620

Brookland

Brookland $895,000

CONDO. 2 br, 2 ba. Gourmet Kitchen with Wood Floors, Granite Counters & Backs-plash & Stainless Stl Appl.

Marsha Schuman 301-299-9598

nice view from balcony. Fea-tures include NEW W&D, ga-rage parking included, this building has 24 hour front desk, Outdoor pool. 2111 Wis-consin Ave., NE, DC 20007.

Patrick Kelly 202-000-0000

Bellevue

Bellevue $399,000Townhome. 2 br, 2 ba, 3 Level 2 Unit building in near metro & shopping. Up-dated homes but you can do your own

touch ups. It is Ready to be Move in. It has Hardwood flooring and many other up-dates.2 BR second floor and one bath room. The basement is separate unit and can use as additional rental income or else. 1517 6th St SW, DC 20001.

Payam Bakhaje 202-345-2778

Bellevue $449,000

CONDO. 1 br, 2 ba. PRICE DROP! OPEN HOUSE SUN 11/29 1-4 Over 1000 sq ft 1br + huge den w/closet/2ba chic pad in famous Whitman incl pkng, balcony, 50k of cstm decor, wired 4 sound, marble grnte Braz Cherry hardwood, stainless, glass, never-used kitchen, lndry room, glass shower, luxury tub. POOL, EXCSE RM, 24-hr Concrge CLOSE TO EVERYTHING: Met-ro, grocery, pharmacy. 910 M St SW #429, DC 20001.

Martin Hosking 240-605-7590

Bellevue $318,000

CONDO. 1 br, 1 ba, 750 sqft. Spacious one bedroom with bird’s eye views. Integrated Kitchen, Living/Dining room. Wood parquet floors through-out, 3 big closets. Front Desk, roof deck and pool, and laun-dry room on each floor. Desir-able urban location where it’s. 1440 N St SW #906, DC 20005.

Jo Ricks 202-234-1784

City Houses, LLC

Anacostia

Anacostia $499,900

Single-Family Home. 4 br, 2 ba. Classic Victorian in Popu-lar Brookland Community. Three levels plus walk-up at-tic with space for rooms. For-mal entry with sitting area, huge dining room with pocket doors, living room with fire-place. 2837 12th St SE, DC 20017.

Bradley Wisley 301-000-0000

Anacostia $285,000

Single-Family Home. 4 br, 3 ba, Calling all visionaries! This is it in Brookland. Renovated less than 8 years ago this stone beauty is begging for your personal touch. Three full baths, master suite with full bath, large kitchen, 2nd floor washer dryer hook up. 3100 13th St SE, DC 20017.

Tanya Slade 301-000-0000

Capitol Hill

Capitol Hill $199,900

Single-Family Home. 3 br, Single-Family Home , 4 br, 21½ ba. Home sweet Home! Cozy, inviting, georgeous ALL BRICK 4 BR single family DE-TACHED home. Hardwood floors on main level, freshly painted, new kitchen floor. Enjoy backyard family picnics cool breezes on front porch in DC. 910 48th Pl SE, DC 20019

Luis Vivas 202-000-0000

REAL ESTATE n WASHINGTON DC NW NE SW SE

2351 Champlain St., NW.Amazing location! 2 bedrooms and 2.5 baths w/ private outdoor patio. 22 ft ceilings. Top of the line finishes includ SubZero/Wolf/Bosch appl, Bamboo cabinets, Travertine baths w/ Hans Grohe fixturs.1-800-000-0000

Brand New Ultra high-end loft in the heart of

Adams Morgan.• 2 BRs• 2 full baths• 1 half baths• Built in 2009• 1690 sq. ft.

Bellevue

Bellevue $399,000Townhome. 2 br, 2 ba, 3 Level 2 Unit building in near metro & shopping. Up-dated homes but you can do your own

touch ups. It is Ready to be Move in. It has Hardwood flooring and many other up-dates.2 BR second floor and one bath room. The basement is separate unit and can use as additional rental income or else. 1517 6th St SW, DC 20001.

Payam Bakhaje 202-345-2778

Bellevue $920,000

CONDO. 2 br, 2½ ba, 1,744 sqft. New state-of-the-art building - 27 units. Duplex. Every unit has own wash/dryer, super high-end fins, ss apps, granite, bamboo flrs & cer tile BA. NO CLOSING COST OPTIONS. 450 Church St SW #602, DC 20005.

Todd Wood 301-347-4720

RE/MAX Realty

Bellevue $318,000

CONDO. 1 br, 1 ba, 750 sqft. Spacious one bedroom with bird’s eye views. Integrated Kitchen, Living/Dining room. Wood parquet floors through-out, 3 big closets. Front Desk, roof deck and pool, and laun-dry room on each floor. Desir-able urban location where it’s easy to walk to Metro and Logan commercial offerings from your front door. 1440 N St SW #906, DC 20005.

Jo Ricks 202-234-1784

City Houses, LLC

Bellevue $699,900CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting. 4301 Military Rd. NE #606, DC 20009.


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Brookland $751,000

Single-Family Home. 3 br, 2 ba. Brick colonial with 3BR 2BA upstairs!Fin lower lev: laundry, quarter BA, very high ceil rec rm w/ 2nd FP & out-side entrance! 4425 River Rd NE, DC 20016.


Brookland $789,900CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. Wood floors, classic window. 4301 Military Rd. NE #102, DC 20009.

Neil Bacchus 202-320-6469

Brookland $699,900CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting. 4301 Military Rd. NE #606, DC 20009.


Brookland $760,900Townhome. Great location at 16th and u st!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. 5337 42nd St. NE, DC 20015.

Michael P. Rose 202-000-0000

Deanwood

Deanwood $1,035,000

Townhome. 3 br, 1½ ba. Sun-filled and renovated 3BR/1.5BA, conveniently located near shops and res-taurants of Georgetown, hardwood floors throughout, separate Dining Room, won-derful table-space Kitchen w/ granite counters and stain-less steel appliances, opens to rear private patio. 1215 33rd St NE, DC 20007.

Nancy Bubes 301-000-0000

Deanwood $1,950,000

Single-Fam-ily Home. 5 br, 4 ba. To-tally reno-vated turn of the century V i c t o r i a n townhome in George-town! Live

across from Dumbarton Oaks and enyoy the gardens;Four exceptional levels as well as a private deck and garden ; 5+ bedrooms, 4 full baths; beau-tiful kitchen with granite;new appliances,four fireplaces. 3102 R St NE, DC 20007.

Susan Berger 202-255-5006

Deanwood $849,0002 br | 1 ba | Single-Family Home Located on a quiet one-way street in the East Village, this beautiful semi-detached 2 bed, 1 bath Federal boasts exquisite details throughout. 2806 Dumbarton St NE, DC 20007.

John Washington 202-000-0000

Fort Totten

Fort Totten $369,000

CONDO. Spacious, bright condo on upper floor with

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GRI students and graduates

Back row: David Newcome, Brent Roberts, David Jordan, Topher Cushman, Instructor Tom Lynch, Mary Saltzman, Charles Wilde, Michael AbiiMiddle row: Andrew Adler, Kimberly Fallin, Ronald Wilson, Leslie Dembinski, Elizabeth Dangio, Brenda MorenoFront row: Leroy Battle, Jennifer Myers, Sergio Herrera, Jessica Wilkie

GRI graduates and future brokers

Back row: Topher Cushman, Instructor Tom Lynch, Charles Wilde, Michael AbiiMiddle row : David Jordan, Ronald Wilson, Leslie Dembinski Front row: David Newcome, Elizabeth Dangio, Sergio Herrera, Jessica Wilkie

Congratulations GRI Graduates! On May 12, graduating students from WDCAR’s GRI Program were presented with their pins, certificates, and designation as Graduate, REALTOR® Institute (GRI)!

REALTORS® who earn the GRI designation stand out to prospective home buyers and sellers as real estate practitioners who have gained in-depth knowledge on technical subjects, as well as the fundamentals of real estate. Learn more or sign up for the GRI series at www.gcaar.com.

GCAAR President Adrian Hunnings teaches GRI Agency class

The International Committee develops educational and networking opportunities for members interested in international real estate transactions. The committee meets bimonthly.

International Committee MembersStaff Liaison: Hakeema Jones

Stephen Bennetts, ChairHildegarde Pollard, Vice Chair

Cuvator Armstrong, GRIKacem Benali

Jacqueline Bennett Jihee”Nina” Bonan Abdul Chaudhry

Eleanor Colon Virginia Fall

Andrew Felber Susan Hand

Vincent Hurteau Angela Jones

Ntumba Makenda Pushpa Mittal

Gerry OcchiuzzoEugenia Park

Denise Rallis-Frutos Silvia Rodriguez

Luba Vidgop Barg

The Professional Standards Committee is responsible for enforcement of the REALTORS® Code of Ethics and facilitation of the GCAAR arbitration process.

The committee must include a wide representation of brokerages. Members of the committee are assigned to sit on hearing panels in both ethics and arbitration cases. Attendance at professional standards training seminar is required. Professional Standards Committee members must have served at least one term on the Grievance Committee. The committee meets on a quarterly basis and members serve on hearing panels as necessary.

Professional Standards Committee Members

Staff Liaison: Yvette Robinson

John W. Gill, Jr., Chair Martha Merenda, Vice Chair

Kacem BenaliThomas Bennetts

Sally BolgerSara Lou Cardwell

Roger Carp

Mark CoakleyLori Connor

Hilde DachteraEleonore Gerstenfeld

Lee Goldstein Jacqueline Grenning

James HigginsHarold Huggins

Ellen KatzAnne Killeen

Jeffrey LaRocqueJoy Liberti

Victoria (Vicky) Lobos-Kirker Robin Loew

Marie McCormack*Barbara Miles Linda NormanEugenia Park

Bonnie Roberts-BurkeMarjorie Rosner

Maxine Schwartzman Marie Shannon Dianah Shaw

Maureen “Mo” Snowden Paolo Verrone

Leslie WeightmanJearline Williams

*Deceased

Committee Spotlight: International and Professional Standards Committees


technology

Feeling Threatened? How to Use Your Smartphone as a WeaponExcerpts taken from REALTOR® Magazine, July 2011

By Melissa Dittman Tracey

Real estate can be a dangerous profession, as recent incidents in the news attest, but that smartphone you carry everywhere with you can become one of your greatest weapons in protecting you against danger.

Real estate pro Michelle Jones, ABR, GRI, with Realty Austin in Austin, Texas, recently worked with a developer to create Real Alert, a safety mobile app for the iPhone and Android for real estate professionals. Real estate safety expert and trainer Tracey Hawkins with Safety and Security Source came up with a list of her top four picks that she feels are must-haves for anyone working in real estate.

MOBYwww.mymoby.comDevices: BlackBerry, iPhone, and Android (coming soon)Cost: Free, premium plans available ($9.95 per month/$99.94 per year)

Hawkins chooses the Moby app as one of her top picks because of its check-in feature that could be beneficial to real estate professionals at open houses and showings. The app will send messages at predetermined times that ask “Are you OK?” If two questions go unanswered, the app will automatically notify the contacts you select that you failed to respond and provide your GPS location, which it gathers automatically from your smartphone.

Some of the app’s other features:• Trackingtool:Youcanselectivelyrevealyourlocationtocertaincontacts. The app can be set to send your GPS location periodically to whomever you choose and keep others up-to-date while you’re on the go. You can also leave notes to your contacts, such as “on my way to a vacant property” or “a bit nervous around this new client.”

• Alerttool:Withonetouchofabutton,you’llbeabletoalertyour contacts or emergency personnel if you need help. The alert will automatically include your GPS location.

A stepped-up premium plan is available ($9.95 per month/$99.95 per year) that can be used to send your alerts to not only your contacts but also a 24/7 security monitoring system. The monitoring system can determine the appropriate emergency services needed and dispatch police, ambulance, or fire responders using your exact GPS location from your phone.* On iPhone, find Moby by searching “Moby by Contigo” in the iTunes app store.

REAL ALERT For iPhone: http://itunes.apple.com/us/app/real-alert/id436455476?mt=8For Android: https://market.android.com/details?id=com.realalert.androidDevices: iPhone and AndroidCost: $1.99

This app allows you to quickly alert your emergency contacts or police when you feel threatened as well as discreetly record “creep data,” key details about suspicious people you encounter.

The app features:• Aquicktap—one-buttonpush—tospeeddialandalertyouremergency contacts when you need help.

• Aquick-tapbutton(doubletapinthiscasetoavoidaccidentalcalls) to instantly call 911.

• Theabilitytorecord“creepdata,”whichallowsyoutodetailphysical descriptions, vehicle information, and other important information for police. You can also record audio details or even take a photo.

• RetrievethelocationofnearbyhospitalsbyusingyourGPS location.

• Aquick-tapbuttontosoundanalarmtowardoffpotentialattackers. (The volume will depend on the sound setting on your phone.)

• Theabilitytoturnyoursmartphoneintoaflashlight.

SAFETREChttp://safetrec.comDevices: Most mobile devicesCost: Free limited plan; full-featured plan $9.95 per month

With this app, whenever you feel in danger, you can press a panic button on your phone that instantly alerts others that you need help. E-mail and text messages then will be sent to your emergency contacts, along with your precise location using your phone’s GPS technology. The paid version of this app will also send the message to a 24/7 live conference call help center, which will contact emergency responders if necessary.

ICEPICShttp://www.icepics.comDevice: iPhoneCost: $2.99

Take a photo of a suspicious person with just one press of a button and have it e-mailed instantly to your emergency contacts, along with yourlocationinformation—youcanevendoitwithoutthatpersonever knowing. IcePics (In Case of Emergency Pictures) is an iPhone app that makes your camera instantly accessible via an icon on the front screen of your phone. You can snap a photo discreetly too: Hold the phone to your ear and pretend you’re making a phone call but tiltthephonetowardthepersontotakethephoto—thephotoistaken without a click sound and is instantly sent to your emergency contacts, without making any noise.

The e-mail to your emergency contacts will include the photo as well as your GPS coordinates and a link to a Google map so your contacts can pinpoint the precise location at which the photo was taken.


International Committee Hosts SeminarThe International Committee hosted “Successful Strategies for Serving the International Community” on June 23 at GCAAR’s Silver Spring Conference Center. Attendees enjoyed light international fare while Jim Semeyn of Wells Fargo explained how to target and attract international clients and connect them to a variety of financial products and services. The event was sponsored by Finkelstein & Goldman, P.C. and Wells Fargo Private Mortgage Banking.

The International Committee hosts a number of events throughout the year. Follow us on Facebook and Twitter to learn about upcoming events.

International event attendees

Esther Finkelstein of Finkelstein & Goldman, P.C. and Jim Semeyn

ABCs of Real EstateThe real estate industry uses a lot of acronyms that you may or may not be familiar with. Here are some you may come across in your business activities.

AIREA - American Institute of Real Estate AppraisersALTA - American Land Title AssociationASHI - American Society of Home InspectorsBD - Book DepreciationBFP - Bona Fide PurchaserBRR - Book Rate of ReturnCGT - Capital Gains TaxCOE - Cost of EquityCUV - Current Use ValueDIM - Deferred-Interest MortgageDRC - Depreciated Replacement CostFPM - Flexible-Payment MortgageFPC - Federal Political CoordinatorFRM - Fixed-Rate MortgageFTC - Federal Trade CommissionGPM - Graduated Payment MortgageGSEs - Government-Sponsored Enterprises (Fannie Mae and Freddie Mac)HECM - Home Equity Conversion MortgageHEL - Home Equity LoanHUD - (Department of) Housing and Urban DevelopmentLTV - Loan-To-Value (Ratio)MARS - Mortgage Assistance Relief Services Rule - to protect consumers from mortgage relief scams, affects disclosure requirements for short sales. MBB - Mortgage-Backed BondMBO - Mortgage-Backed ObligationMBS - Mortgage-Backed SecurityMGIC - Mortgage Guaranty Insurance CorporationMID - Mortgage Interest DeductionMRA - Master Residential AppraiserMSA - Master Senior AppraiserNHBC - National House Building CouncilNPV - Net Present ValueNRV - Net Realizable ValuePCD - Planned Commercial DevelopmentPEPS - Political, Economic, Physical, Social (forces that drive value)PHA - Public Housing AdministrationPID - Planned Industrial DevelopmentPITI - Principal, Interest, Taxes, and InsurancePMDT - Purchase Money Deed of TrustPMI - Private Mortgage InsuranceQRM - Qualified Residential MortgageRAM - Reverse Annuity MortgageREIT - Real Estate Investment TrustREC - Real Estate CommissionROM - Roll-Over MortgageSAM - Shared-Appreciation MortgageSEM - Shared-Equity MortgageTPL - Third Party LiabilityTIP - Treasury Investment ProgramTRA - Tax Reform ActVAP - Variable Payment (Mortgage)VAT - Value Added TaxVPM - Variable-Payment MortgageVRE - Virtual Real EstateVRM - Variable-Rate Mortgage

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GCAAR Members Participate in Housing FairGCAAR Board members Cuvator “Q” Armstrong and Silvia Rodriguez, in conjunction with the Maryland Hispanic Real Estate Industry Association, Inc. (MHREIA), helped families learn about home ownership at the housing fair on June 25 in Silver Spring. Sponsored by El Pregonero newspaper, the fair gave the public information about the many aspects of housing (renting, buying, & selling).

Leaky Roof Happy Hour - July 14 Members met at the Tia Querta Restaurant in Bethesda on July 14 for the first annual Leaky Roof Happy Hour sponsored by GCAAR’s REALTOR® Political Action Committee (RPAC). GCAAR President Adrian Hunnings and RPAC Chair/President-Elect Bonnie Casper discussed the issues facing REALTORS® today and explained why support in RPAC is vital to the future of the real estate industry.

2nd Annual GCAAR Cares Silent Auction Rocked at 2011 REALTOR® Fest

On Monday, July 11, the GCAAR Cares Community Service Committee hosted the 2nd Annual Silent Auction at REALTOR® Fest. With tables centrally located right outside the doors of the popular REALTOR® Fest trade show, dozens of members and affiliates bid on items ranging from $20 to $500. GCAAR Cares raised nearly $1500! Thanks and congratulations to all our Silent Auction winners!

This year’s silent auction fundraiser was dedicated to the GCAAR Cares Tornado Relief Fund. The proceeds will go directly to the REALTOR® Relief Foundation to help victims around the country devastated by the recenttornadoesandfloods.

Special thanks to the GCAAR Cares Committee who volunteered many hours preparing for and volunteering at the Silent Auction table and for donating over 25 auction items. Way to go GCAAR Cares!

Back Row: WDCAR CEO Ed Krauze, 2011 GCAAR President Adrian Hunnings

Front Row: RPAC Chair/President-Elect Bonnie Casper, NAR Golden “R” Investor Carole Maclure, 2008 GCAAR President Dennis Melby.

L-R: Scott Goldberg, Dick Stoner, Valda Crowder, Tamna Mayatt, Lorraine Gottlieb

Committee Members Tom Bennetts and San Luisa Barnes-Mosaid served all day at the Silent Auction

Fundraising Subcommittee Chair Kim Jones does double duty promoting the auction items and the upcoming NYC bus trip

“Q Armstrong (left) and Silvia Rodriguez give info to housing fair participants

For more information on how you can donate to the GCAAR Cares Tornado Relief Fund, contact Debbie Bell at (301) 590-8771.


SEPTEMBER 7, 2011GRI 101

CEUs: 6 hours DC (elective)Instructor: Valasie AugustTime: 9:00 a.m. - 4:00 p.m.




CEUs: 6 hours DC (elective)Instructor: Thom BrockettTime: 9:00 a.m. - 4:00 p.m.

SEPTEMBER 14, 2011Maryland Codes Ethics Predatory Lending &

New Members Orientation (NMO)CEUs: 3 hours MD (required) & DC (elective)

Instructor: Prabhjit SinghTime: 9:30 a.m. - 12:30 p.m.

NMO- 1:30 p.m. -3:00

Maryland Fair Housing UpdateCEUs: 1.5 hours MD (required) &

DC (elective)Instructor: Prabhjit Singh

Time: 3:30 p.m. - 5:00 p.m.

SEPTEMBER 15, 2011Broker Supervision

CEUs: 3 elective hours MD & DCInstructor: Jill Pogach Michaels, Esq.

Time: 9:30 a.m. - 12:30 p.m.

203KCEUs: 3 elective hours DC, MD & VA

Instructor: Everett SandsTime: 1:30 p.m. - 4:30 p.m.

Credit ScoringCEUs: 3 elective hours DC, MD & VA

Instructor: Everett SandsTime: 5:00 p.m. - 8:00 p.m.

SEPTEMBER 16, 2011Creative Financing

CEUs: 3 elective hours DC & MDInstructor: Jim Semeyn

Time: 9:30 a.m. - 12:30 p.m.


CEUs: 6 hours DC (elective)Instructor: Jim Semeyn

Time: 9:00 a.m. - 4:00 p.m.

SEPTEMBER 22, 2011Rockville Location: 9707 Key West Ave

Ste. 120, Rockville MD 20850Short Sales

CEUs: 3 elective hours DC, MD & VAInstructor: Jill Pogach Michaels, Esq.

Time: 9:00 a.m. - 12:00 p.m.



SEPTEMBER 26, 2011Property Conditions DisclosureCEUs: 3 hours MD (required) &

DC (elective)Instructor: Al Monshower, Esq.

Time: 9:30 a.m. - 12:30 p.m.

MREC Agency-ResidentialCEUs: 3 elective hours DC & MDInstructor: Al Monshower, Esq.

Time: 1:30 p.m. - 4:30 p.m.

SEPTEMBER 28, 2011Reverse Mortgage

CEUs: 1.5 elective hours MD & DC Instructor: Eric RittmeyerTime: 1:30 p.m. - 3:00 p.m.

2011 september educAtion schedule

Raising the Level of Professionalism Unless otherwise noted, all classes listed will be held at the GCAAR Conference Center, 8757 Georgia Ave., Suite 600, Silver Spring, MD

Please check our website at www.gcaar.com for more updates and additions.


By Eric Rittmeyer

In 1989, the federal government began insuring the reverse mortgage or Home Equity Conversion Mortgage (HECM). Over the last 22 years, the reverse mortgage has helped hundreds of thousands of seniors 62 and over, to remain in their homes by giving them access to a portion of their homes’ equity without requiring a monthly repayment. With the current condition of the economic environment, this loan has become a life line for many people experiencing increased living expenses, but stagnant sources of income. While using the reverse mortgage to keep seniors in their homes has been the sole purpose for this loan, that all changed with the introduction on the Reverse Mortgage for Purchase program.

In January 2009, the Federal Housing Administration (FHA) began allowing the reverse mortgage for the purchase of a new home. This has opened up a whole new purchasing opportunity for seniors who want to move to a new home. Using the Reverse Mortgage for Purchase, a senior is able to purchase a new home without having to qualify based on income, credit or health. This is proving to be a powerful tool for homeowners looking to relocate, but are unable to do so using a traditional mortgage which requires income verification and intense credit checks.

Here is a Reverse Mortgage for Purchase scenario: A senior sells his existing home and walks away with $200,000 in cash. He cannot qualify for a traditional “forward” mortgage because he has limited income and does not want to incur a new monthly payment. The normal solution would be to pay all cash for a new home so there would be no need for a mortgage. The problem is that his purchasing power is limited to a $200,000 house, and it will drain him of all his money; no money for new furniture, appliances, home furnishings, etc. It essentially leaves him right back where he was; house rich and cash poor. Enter the reverse mortgage….

This same homebuyer could utilize the reverse mortgage, and based on his age, could finance a portion of the purchase price without having to worry about income or credit qualification. That same $200,000 house could be purchased using the reverse mortgage, allowing the homeowner to keep the majority of his $200,000 in cash and with no monthly payment. Or, this borrower could decide to take all of his $200,000 in cash and purchase a new home for approximately $400,000 using the reverse mortgage. The older the borrower, the more he qualifies for.

The FHA formula used to determine the required down payment is based on just 3 factors; the age of the youngest borrower, the current interest rate, and the purchase price

or appraised value (whichever is less). The borrower retains full ownership of the home and can sell, refinance or even make monthly payments at any time. Borrowers cannot outlive a reverse mortgage, and they can never be forced to move as long as they occupy the property as their primary residence and maintain their property taxes and homeowners insurance. FHA insured reverse mortgages are defined as “non-recourse,” which means that the borrowers, their heirs, or their estate will never owe more than the home is worth. If there is a deficit when the property is sold, FHA insurance pays the difference. There is no personal liability.

Unfortunately, there has been some confusion lately about the availability of the reverse mortgage, due mainly to recent announcements from a handful of lenders which have decided to stop offering the loans. The reverse mortgage is very much alive and well, and it will continue to evolve and give homeowners more options on how to assist in funding their retirement goals; whether it is remaining in their existing home, or downsizing into a new home to be closer to family and friends.

Eric Rittmeyer is the President of Fidelis Mortgage and is a U.S. Marine veteran. In June 2010, Eric was the first person in the nation to receive the Certified Reverse Mortgage Professional designation (CRMP). For more information, visit www.ReverseMaryland.com or call (410) 668-6501.

Reverse Mortgage for Purchase: Another Option for Your Senior Clients

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GCAAR’s YPN Hosts 2nd Annual Networking CruiseThe Potomac River provided the perfect backdrop as GCAAR’s Young Professionals Network (YPN) hosted its 2nd Annual Networking Cruise, July 28. YPN Chair Mia Orantes thanked the group and event sponsors - ATG Title, GCAAR, and Met Life for attending and asked “cruisers” to encourage others to join YPN and participate in upcoming events. Guests mingled, munched, traded business cards and referrals, and enjoyed the balmy summer night along the river.

REALTOR® Magazine launched the Young Professionals Network (YPN) in 2006. Through national networking events, a lively blog, and an information-packed web site, YPN gives its members the tools they needtoadvancetheircareers—andhavefunintheprocess!Upcoming events include a Top Producer Panel in September and a Holiday Party in December.

To join GCAAR’s YPN, go to: www.ypnmetrodc.com/members/join or scan the QR code.

YPN Chair Mia Orantes, with Jennifer Singleton of Windswept Realty

Cruisegoers enjoy the evening below and above deck

Amy Ritsko-Warren, GCAAR Chief Operating Officer and YPN Staff Liaison


Maryland Public Policy UpdateMaryland General AssemblyThe legislative session ended on Monday, April 11 at midnight. A Special Session will likely be held in mid-October to address, among

other issues, redistricting. For more information, including a detailed summary of pertinent 2011 real estate legislation, visit the Government Affairs news section at www.mdrealtor.org.

Recording FeesThe Maryland Legislature increased the cost of recording documents in Land Records from $20 to $40. The new fee is effective for documents signed on or after July 1, 2011. A document executed and notarized prior to July 1 can be recorded after July 1 without paying the increased fee. The Court Clerks will probably presume that all documents are signed after July 1, however, after some period of time. The Statute also provides that the $20 increase will expire July 1, 2015. This fee applies to most deeds and residential mortgages.

Montgomery County Legislation

ZTA 11-01, Commercial/Residential (CR) ZonesZTA 11-01 is an effort to establish new zones in the CR family. The Planning Board intends to recommend applying new zones to areas where mixed-use is desired but CR requirements may be too burdensome, as well as to land near single-family detached homes. Staff is monitoring the legislation.

Bill 23-11, Development Districts, Special Taxing Districts Duplication of Funding Bill 23-11 would prohibit any development district from financing any infrastructure improvement that is or may be financed or credited by any other government agency, and similarly prohibit the White Flint Special Taxing District from imposing a tax to pay for any infrastructure improvement that is or may be financed or credited by any other government agency. Staff is monitoring the legislation.

Bill 22-11, Special Taxing District Clarksburg AreaBill 22-11 would create a Clarksburg Area Special Taxing District, consisting of the Clarksburg Village and Arora Hills subdivisions. Staff is monitoring the legislation.

District Public Policy UpdateWDCAR Speaker Series: Deputy Mayor of Economic Planning and Development Victor HoskinsOn July 14, Deputy Mayor of

Economic Planning and Development Victor Hoskins addressed REALTORS® as part of WDCAR’s Speaker Series. Deputy Mayor Hoskins discussed a number of economic development projects

Deputy Mayor Hoskins (left) with WDCAR CEO Ed Krauze

coming to various parts of the District. He was able to candidly address questions from REALTORS® about the role of small businesses in the District, Walmart, LivingSocial and other neighborhood concerns. STAY TUNED for additional WDCAR Speaker Series events and come learn the latest on issues directly related to the future of Washington, DC.

District Budget Update

On June 14, the Council took the final vote on the Fiscal Year 2012 budget. The total FY 2012 budget, including federal funds, is $9.6 billion. The general fund budget, which is supported by local taxes and fees, is $6.36 billion. (The FY 2011 general fund budget was $6.24 billion - a 1.9% increase).

PASSED Revenue Increases • $22.6million-CombinedReportingformulti-statecorporations,

with amendments that will allow for offsetting tax deductions that minimize the impact

• $18.2million-increaseparkinggaragetaxfrom12%to18%• $15million-limititemizeddeductionsforresidentswhoseAGI

(adjusted gross income) is greater than $200,000• $13.4million-eliminationofexemptionforinterestonOut-of-

State Bonds• $12million-increaseminimumfranchisetaxfrom$100to$250;

firms with gross receipts greater than > $1 million will pay a $1,000 franchise tax

• $7.2million-doubleweightedsalestaxforbusinesstaxapportionment

• $5.3million-increaseoffpremisealcoholtaxfrom9%-10%&extend alcohol sales to Midnight

• $3million-streamlinedbankattachments/expeditedtaxliencollection

• $3million-DepartmentofMotorVehiclefeeincreases• $2.3million-expandsalestaxtoincludesecurityguardsandguard

services• $1.1million-changecigarettesalestaxfromretailtowholesaleto

prevent “leakage”• Maintaining6%salestax-“sunsetclause”eliminated

public policy


• EliminationofcalculatedrateforClass2commercialpropertiesandfixing the tax rate to $1.65 per $100 of assessed value.

REJECTED Revenue Increases• $20.4million-newincometaxbracket:$200,000andabove• $2.3million-expandsalestaxtoincludelivetheatre• $1.1million-CirculatorFareincreaseof$1

Other Notable ActionsChanges to Withholding Calculation to raise a one-time total of $65 million to address short term revenue needs. Details are as follows:

• $41million-excludingthestandarddeductionfromwithholding calculation

• $15million-raisingwithholdingfrom100%to110%ofprioryear to avoid tax penalty

• $9million-withholdingtaxesfrompensionandretirementlump sums

Development Investments • $64millionfortheSt.Elizabeth’sEastCampus• $48.9millionfortheMcMillanSandFiltrationPlant• $5millionfortheSkylandShoppingCenter

Tax Revision Commission Establishment Act• Creationofan11-memberbodythatwillbechargedwith

submitting a comprehensive study to the Council and Mayor on the District’s current tax system.

District Legislation

B19-136, “Uniform Code Revision Act of 2011” In an effort by the Uniform Code’s office to make DC regulations compliant with other Uniform Codes, this Bill would amend Subtitle I of Title 28 of the Uniform Commercial Code, by revising general provisions, amending negotiable instruments, amending bank deposits and collections, repealing bulk sales, revising documents of title and making conforming amendments to other articles.

B19-222, “Uniform Commercial Code Article 9 Amendments Act of 2011” To amend Article 9 of the Uniform Commercial Code, relating to secured transactions, to provide greater guidance as to the name of the debtor to be provided on a financing statement when the debtor is an individual, corporation, limited liability company, or limited partnership or when the collateral is held in a statutory or common-law trust or in a decedent’s estate, and to provide greater protection for an existing secured party having a security interest in after-acquired property when its debtor relocates to another state or merges with another entity, and for other purposes.

Bill 19-257, “Real Estate Broker Licensure Exemption Act of 2011”This bill would exempt from real estate broker licensure: principals; officers and staff members of an entity that perform leasing activities to the extent that such person’s services are limited to leasing, renting or collection of rents involving real property owned in whole or in part by such entity and/or its affiliates. Staff is closely monitoring the legislation.

Ward Redistricting The Council passed legislation to redefine Ward boundaries within the District (post the 2010 Census). After numerous public meetings and

Council debate, Ward 7 moved into parts of what is now Ward 6 in the Capitol Hill area and Ward 6 moved into Logan Circle.

NAR’s Key Federal Legislative IssuesStay up to date on NAR’s political activity and access all CALLS for ACTION through the NAR’s REALTOR® Action Center at http://www.realtoractioncenter.com/

CALL for ACTION: Proposed Qualified Residential Mortgage (QRM) Regulations NAR recently launched its first consumer Call for Action to six million current or future home owners asking them to support our opposition to a proposed federal regulation that would require a 20 percent down payment on a purchase of a home. Consumers (your clients) can visit HomeOwnerActionCenter.com for background on the regulation, determine how much money they would need for a 20 percent down payment on a loan and send a letter in opposition to the proposed regulation.

CALL for ACTION: Conforming Loan LimitsThe current Government Sponsored Enterprise (GSE) loan limits are set to expire on September 30, 2011. GSE reform legislation has been introduced in the House and the Senate to reduce the loan limit to $417,000 nationwide, which could significantly raise mortgage costs. NAR has launched a Call for Action and is advocating on Capitol Hill that current GSE and FHA loan limits should be extended to prevent an immediate negative impact on the availability of affordable mortgages. Contact your elected officials and urge them to make the current FHA and GSE mortgage loan limits permanent.

CALL for ACTION: National Flood Insurance Program In mid-July, the House passed a 5-year reauthorization of the National Flood Insurance Program (NFIP). The Senate, however, has not yet acted on reauthorization legislation before the current short-term extension runs out September 30. Millions of taxpayers rely on the NFIP and NAR urges Congressional leaders to reauthorize the NFIP for at least five years to end the uncertainty of extensions and shutdowns. Continue to encourage fellow REALTORS® to respond to NAR’s Call for Action if they have not yet done so.

Mortgage Assistance Relief Services (MARS) Rule For Short SalesOn July 15, 2011, the FTC announced that it will forbear from enforcing most provisions of its MARS Rule against real estate professionals who assist consumers in obtaining short sales from their lenders or servicers. The MARS Rule, intended to protect consumers from mortgage relief scams, affects disclosure requirements for short sales. Real estate professionals acting in their licensed capacity will no longer need to comply with most of the Rule’s requirements, including the required disclosures, advance fee ban, and recordkeeping requirements. The FTC will still enforce the Rule’s prohibition against misrepresentations. NAR will continue to work on obtaining a complete resolution of this issue.

Mortgage Interest Deduction (MID) Debate Any changes to the MID, now or in the future, could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth. NAR continues to fight the debate on limiting the MID by voicing REALTOR® concerns in various public forums, as well as aggressively reminding Congressional leaders the economic ramifications of such limits. Real estate professionals are urged to reach out to their representatives against any limitations on the MID, as well as all other homeownership tax benefits.


SINGLE-FAMILY MARKETThe June results for single-family home sales were positive. Sales contracts (875) were up 5% from a year ago; and the average and median prices through the first six months trended up. However, settlements (811) in June were down over 16% from a year ago. Indeed, the first six months of the year still has been a mixed bag. Total contracts and settlements were 11% and 14% below the

2010 levels.

Nevertheless, the news on prices has been generally good. Year-to-date, through the first six months, the average and median prices were $514,334 and $405,398, respectively. The trend is definitely up from the 2010 annual figures of $495,736 and $400,000. Appreciation has finally returned to county housing markets -- 3.75% increase on the average price and 1.35% on the median priced home.

Inventory, in June, was around 2,700-units, up from about 2,000 in January. Through June, the county single-family inventory totaled 2,722 homes - down slightly from the 2,739 level of June 2010. The June listing rate of 1,137 properties slipped 3% from a year ago, so this may be a harbinger of some future declines through the summer. At the June sales contracts pace, it equated to a 3-month absorption rate. Looking at the brighter side, tighter supply may help to support future price appreciation.

CONDOMINIUMS AND COOPERATIvESThe condo/coop market is still challenged in both unit sales and their prices. In June, sales contracts (235) slipped almost 10% compared to June 2010. Furthermore, the June monthly figures for settlements (222) were down 10%, and the rate of decline has been increasing. In the first six months of the year, settlements (1,105) declined 7% and contracts (1,307) dropped 11% compared to the same period a year before. At this point the condo/coop market is continuing to look for a bottom.

Paralleling condo/coop unit contracts, while single-family prices have found their bottom, average condo/coop prices have slid over the past couple of months. In 2010, a condo/coop unit in Montgomery County averaged $247,274, with the median priced unit costing $207,000. Through June, the (year-to-date) average price was $234,289 -- down 5% from 2010. While the year-to-date median ($185,000) has fallen almost 11% from the 2010 figure, the monthly figures have moved up the last quarter. Fortunately, mortgage interest rates are not likely to rise anytime soon. Nevertheless, with the recent drop in average monthly prices, it is not clear when this market will really turn around.

Unfortunately, for condos and coops the only good news is the listing inventory. Declining sales rates and lower prices has pushed the active listing inventory down. They started the year at 880 actives in January, trended down through April to 794 and jumped to about 810 actives in May.

Montgomery County Market ReportBy Fred Flick, Ph.D., Consultant/Housing Economist

Fred Flick


However, over the first six months, the inventory has dropped 22% to only 763 properties, compared to the same period a year ago. And for June (297), listings dropped 22% from June 2010. At the June contracts pace, total actives equated to a 3.25-months absorption rate.

ECONOMIC POLICY AND INTEREST RATESMortgage interest rates are still staying in a very affordable range. Although the Federal Reserve has ceased to buy U.S. Treasuries, no large bumps in interest rates are expected anytime soon. Part of the reason is the financial contagion in the Eurozone -- dollar denominatedassetsarestillindemand-anddomesticinflationisstill at reasonable levels. Assuming the government raises the U.S. debt ceiling, it is not anticipated that there will be any major changes in rates on intermediate term Treasuries. However, market experts are noting that the 30-year Treasury bond yield has not moved down as much as the intermediate (5-10 year) security yields. This could reflectconcernsoverthebudget,spending,andfutureinflation.Wewill have to see how this plays out in early August.

Freddie Mac’s mid-July survey showed rates on traditional fixed-rate loans in the 4.5% range and rates are down from earlier in the year. In this survey, the 30-year rate came in at 4.51%. One-year adjustable mortgage (ARMs) rates averaged only 2.97%, down from about 3.25% earlier this year. Fifteen-year loans came in at 3.69% and 5/1-yr. ARMs were slightly more affordable at 3.22%. In Montgomery County, Bankrate.com shows lenders offering rates ranging from 4.375% to 4.75%, with no points and 10% down. These figures are consistent with the Freddie Mac survey numbers for 30-year fixed financing. The Fed’s recent indications are that they will continue to keep rates low as long as unemployment is high.

DC Market ReportBy Fred Kendrick

SINGLE FAMILYPending sales of single-family homes rose 6% from May to June and were up 13% from June of last year. The largest gains over last year came in the $900,000 to $1.2

million range where contracts were up 74%. Sales of homes priced between $300,000 and $400,000 were up 70% in June. The number of settlements in June posted the highest monthly total since June of last year and the second highest monthly total since August of 2005.

Average prices of single-family homes through the first half of the year are up 4% from 2010, while median prices are up 6%. While the lack of inventory and strong demand throughout the city has certainly resulted in healthy increases, prices are still below the peak of the market in 2007. Median prices are 16% below this high point, while average prices are off 15%. This illustrates the dilemma that some sellers have currently. They are in a good seller’s market with rising prices, but they don’t have enough equity in their home to sell without bringing money to the settlement table.

The number of available homes fell 12% from May to June to the lowest level of the year, which was also the lowest point in four-and-a-half years. This left 2.42 months of inventory on the market, the second lowest level of the last six years (second only to April of last year which was fueled by the expiration of the federal tax credit).

CONDOMINIUMS/COOPERATIvESPending sales of condominiums and cooperatives fell 7% from May to June and were even with June of last years. June was still the third highest sales month of the last 12 months, however. The lower end of the market in the $150,000 to $300,000 range saw an increase of 31% over last year, while units between $800,000 and $900,000 were up 75%. Settlements were down 5% from June of last year.

Condo/co-op prices have lagged behind 2010 numbers all year, with average prices off by 4% and median prices off by 2%. These losses have wiped out the gains accumulated in 2010, but prices in the DC condo/co-op market have been more stable since their high point in 2005, compared to single-family prices. Even with this year’s losses, average and median prices are down from 2005 only by 4% and 3% respectively.

The inventory of available units fell 6% from May to June and is 10.5% below the same point last year. There was 4.27 months of available inventory at the end of June, and despite the sales losses for the month and the decline in price from last year, this is statistically considered a sellers’ market (with 6 months of inventory considered equilibrium in the market). The condo/co-op market is a bit of a paradox, with some units sitting on the market without any activity and others selling quickly with multiple offers, and it often is a challenge for owners and their agent to gage the correct course.

MID-YEAR REvIEWThe year-to-date sales numbers in the District show single-family settlements down 2% from last year and condominium/cooperative settlements down 9%. The 2010 numbers are a bit skewed from the March and April 2010 buying frenzy caused the rush to take advantage of the expiring federal first-time buyer tax credit. In the second half of 2011 we should get a truer picture of how this year compares to 2010.

The best indicator of the market is how sales are performing compared to the available inventory, and with just over 3 months of inventory of homes and units, compared to 9.5 months nationwide according to the National Association of REALTORS), the outlook for the remainder of 2011 remains very positive.

Fred Kendrick


Thank You 2011 RPAC Investors!Major Investors:

Golden “R” - $5000 or moreMary AntounBonnie Casper

Jane FairweatherCarole Maclure

Dale Ross

Crystal “R” - $2500Jill Pogach Michaels

Sterling “R” - $1000Liz Brent

Jamie Coley Catherine Czuba

Chris DarbyGary Ditto

Edward DownsMelinda Estridge

Marc Fleisher Carlos GarciaJohn Gill, Jr.

Allyson HackneyHarold HugginsAdrian Hunnings

Fred KendrickTimothy Knobloch

Ed KrauzeDana LandryAlana LasoverJudith Levin

Suzanne Des MaraisBrian Maury

Marie McCormack Bo Menkiti

Barbara MilesMichael MoranShelly Murray

Frank Pietranton Jr.Leigh Reed

Randy RothsteinP. Joy Siegel

Frank SnodgrassChristopher Suranna

Paolo VerroneMeredith Weisel

Holly Worthington

Large Investors:Capital Club - ($250 to $999)

RPAC contributions are voluntary and are used for political purposes. 70% of each contribution is used by Maryland RPAC or Washington, DC RPAC or Virginia RPAC to support state and local candidates. The 30% balance is allocated to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C 441 (a). Contributions are not deductible as charitable contributions for federal income tax purposes. This solicitation is intended for members of the Greater Capital Area Association of REALTORS® only. Nothing herein contained shall be construed as a solicitation of contributions from non-members.

GCAAR records as of August 10, 2011.

RPAC Helps Protect Your Real Estate InterestsRPAC strengthens the REALTORS® political advocacy program through grassroots activities, and federal, state and local lobbying efforts.

There’s only one way to protect your investment in real estate - and that’s by investing in RPAC!

The House that RPAC Built brochure shows the strong foundation of your REALTOR® Political Action Committee contributions, supporting legislators who value private property rights.

visit www.gcaar.com to make your investment in RPAC and watch The House that RPAC Built develop!

Andrea Alderdice Wendy Banner

David BedizElizabeth Blakeslee

John BragaleLiz BrentJan Brito

Nathan Carnes Anita CentofantiKimberly Cestari

J. Knight Champion Melissa ChenJudith ColwellLori ConnorJoe Detrick

James DowningPage EisingerAnne Emmett Andrea Evers

Dottie Crago Faust

Meg Finn Gregory FordGregory Flynn

Jeffrey Ganz Carl Gewirz

Martin Green Sally Hamidi

Derick HammondSusan Hand

Ellen HatoumZelda Heller

Mynor HerreraDorothy Heymann

Angela JonesEllen C. Katz

Diana Keeling Elley Kott

Tamara KucikKymber Lovett-Menkiti

Donald MaclureKatie Maclure

Charles MatthewsKevin McDuffieDennis Melby

Amy R. MusherSharon Owens

Betty PairArelis PerezLeyla Phelan

Robert RamoyAmy Ritsko-Warren

Bonnie Roberts-BurkeSilvia Rodriquez

Joseph Rubin Raymond Ruppert Nancy Schwiesow

Martin SignoreBrenda SmallMo SnowdenGlen Sutcliffe

Rachel ValentinoPatrick Weed

Jearline Williams


Staging SavvyAs a real estate practitioner, you’re faced with potentially risky situations every day. Meeting new clients,

showing homes, and even walking to your car at night can be dangerous. It’s essential that you make safe decisions and know how to react when confronted with trouble.

Quiz

1. It is five days before the open house, and your clients’ living room is filled to the brim with clutter that they don’t want to throw away. What is their best option?A. Plan a garage saleB. Pack the clutter in boxes and store off siteC. Move everything into the garageD. Separate the clutter into piles and divide into closets throughout the house 2. When is the best time for sellers to start packing for the move?A. Before they list the home for saleB. As soon as they list the home for saleC. After they receive a viable offerD. After the closing 3. When staging a room, you should:A. Create a focal point that’s related to how the buyer will use the roomB. Remove a piece or two of furniture from each room, if needed, to make the space look largerC. Make sure that all of the lighting fixtures are clean and in working orderD. All of the above 4. In staging, the “Rule of Three” states that:A. For every three prospective buyers, at least one will like the houseB. When re-accessorizing, use three items of varying heights on tabletopsC. No more than three colors should be used in a roomD. Each room should have enough seating for three people 5. Affordable items that can be used for staging include:A. Old shampoo bottles and washcloths, which are placed in showers for a “lived in” lookB. Baskets of all sizes and styles, which help conquer clutter and add a decorative touchC. Shoes—neworold—placednearentrywaysandstackedin empty closetsD. Brooms and mops, which can be leaned against the kitchen wall to emphasize cleanliness

6 . To make a child’s room look most appealing to prospective buyers:A. Decorate the room with growth charts, posters, and school projectsB. De-clutter shelves and closets, and move TVs and computers elsewhereC. Paint the walls a bright color such as purple, green, or bright yellowD. All of the above 7 . Which of the following factors plays a role in staging a home:A. The smell of the homeB. The layout of furnitureC. The backyard landscapingD. All of the above 8 . The best colors for walls in a staged home are:A. A hue that matches the dominant furniture in each roomB. Dark colors in bathrooms and basements; light colors in bedrooms and living roomsC. Neutral colors, such as taupe and warm off-whitesD. Colors that show off your personality 9 . If carpet in the home is worn, stained, or patterned, what should the seller do?A. Take an allowance off the home price; never invest in new carpeting before a moveB. Askprospectivebuyerstoimaginewhatadifferentfloorcovering would look likeC. Covermostofthefloorwithfurnituresothecarpetingwillbe less noticeableD. Replace the worn carpet with a neutral color such as beige 10. To make a laundry room look its best:A. Keep counters and sinks empty and replace wire hangers with white plastic hangersB. Hang clothes to dry and open wash machine to show how the space “works”C. Keep the door closed; it’s not an area of the home that you should show off to buyersD. All of the above

QUIZ Answers: Staging Savvy

1. It is five days before the open house, and your clients’ living room is filled to the brim with clutter that they don’t want to throw away. What is their best option?Correct Answer: Pack the clutter in boxes and store off siteIf the open house is only five days away, it’s too late to plan a garage sale. Moving everything into the garage isn’t a good choice either, as the garage should be uncluttered for home showings. Likewise, it’s not smart to fill closets with clutter before buyers come looking; closets are a big selling point. If there are no off-site storage options, stack boxes neatly in an out-of-way area, such as a protected crawlspace or a corner of the basement.

2. When is the best time for sellers to start packing for the move?Correct Answer: Before they list the home for saleMost people pack up after they sell the house, but that’s a mistake. Sellers should start packingasearlyaspossible—beforetheyputthehomeonthemarket.Packingearlyclears the rooms and makes it easy for buyers to mentally move in when they view the home. Sellers don’t have to pack everything, but they should pack up all major items that are not regularly used. 3. When staging a room, you should:Correct Answer: All of the above continued on page 18


QUIZ Answers: Staging Savvy continued from page 17

Cleaningahomefromceilingtofloorisoneofthefirstthingssellersshoulddowhengetting ready for a showing or open house. That includes making sure that all lighting fixtures are clean and working properly. Sellers also should remove a piece or two of furniture from rooms that are heavily furnished and moving it to emptier rooms or to storage. Finally, when staging, you should pick a staging point, or a focal point that will attract buyers when they see the room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano. 4. In staging, the “Rule of Three” states that:Correct Answer: When re-accessorizing, use three items of varying heights on tabletopsWhen staging a home, first de-accessorize by removing all things from counters and table tops, including coffee tables and side tables. Then re-accessorize using the rule of three. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low). 5. Affordable items that can be used for staging include: Correct Answer: Baskets of all sizes and styles, which help conquer clutter and add a decorative touchTheotheranswerchoices—shampoobottles,shoes,andcleaningsupplies—areconsidered clutter and should not be in view when buyers are looking at a home. 6 . To make a child’s room look most appealing to prospective buyers:Correct Answer: De-clutter shelves and closets, and move TVs and computers elsewhereWhen staging a home, your goal is to make it easy for potential buyers to see

themselves living in the space. Growth charts, posters, and school projects are personal items and will distract those who view the home, especially if they don’t have children. Additionally, bright wall colors can make a room appear smaller. 7 . Which of the following factors plays a role in staging a home:Correct Answer: All of the aboveA properly staged home will have a pleasant smell (or no smell at all), a furniture layoutthatcomplementsthesizeandflowofeachroom,andwell-maintainedlandscaping that makes the home and outdoor space look its best.

8 . The best colors for walls in a staged home are:Correct Answer: Neutral colors, such as taupe and warm off-whitesIf wall colors are intense or change from room to room, your house will appear to be smaller than it really is. You also risk startling buyers as they walk through the home, drawing attention away from the property. The best wall color is warm, yet so subtle that you may not even notice it. If walls are in bad shape or the paint is an unappealing or distinctive color, repainting is a must. 9 . If carpet in the home is worn, stained, or patterned, what should the seller do?Correct Answer: Replace the worn carpet with a neutral color such as beigeBuyers remember nice carpeting, and it’s often a major factor in a decision to buy. Why? Most buyers simply can’t envision a different carpet in a home. Even if you offer an allowance, you may have already lost the buyer. Your best bet is to re-carpet; beigeworkswellwithmostfurnishingsandflowswellfromroomtoroom. 10. To make a laundry room look its best:Correct Answer: Keep counters and sinks empty and replace wire hangers with white plastic hangersBuyers will be impressed if the laundry room is fresh, inviting, and organized. Make sure light bulbs are working, and hide soaps in a cupboard or line them neatly on a shelf. Never hang laundry while showing the house.

Green ResourcesWeatherizeDC BRIEfS GCAAR’S GREEn COMMITTEE

On July 27, WeatherizeDC’s Brett Wiley, Field Director, and Shefaali DeSai, Deputy Policy Director, presented how WeatherizeDC, a nonprofit program of The DC Project, works with home owners to make their homes more energy efficient, provides quality assurance and connects communities for a sustainable future in DC as well as parts of MD and VA.

WeatherizeDC works to bring Green jobs and economic opportunities to local businesses and residents from communities of poverty and high unemployment. The Group is achieving its goal of helping make our area a national leader in home energy efficiency by working with the U.S. Department of Energy and residents, as well as supporting state and local retrofit initiatives.

Learn more by going to www.weatherizedc.org. Then see what you can do by viewing the presentation on the Green Committee’s page at http://gcaar.com/resources_ektid5524.aspx

ThE WORD On ThE STREET On ThE BEnEfITS Of GROWInG A GREEnER BuSInESS…“As consumers become more aware of and interested in conservation, energy-efficient appliances and systems will become more important. An agent needs to utilize every edge out there to distinguish his or her property.” –Elizabeth Blakeslee, Associate Broker, Coldwell Banker Residential Brokerage

“The more climate change affects our world and as energy and water costs become more expensive, knowledge about environmental concerns will become an invaluable and necessary tool for REALTORS®. ” – The Roberts-Burke Group

GCAAR’s Green Committee is aimed at educating Montgomery County and DC residents on important Green issues that affect the real estate industry. Most recently, they had a brief discussion with MRIS about including definitions of Green elements within its Keystone product to simplify it for agents. This will be an ongoing dialogue with MRIS.

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