There are currently 5 single family homes for sale in Washington, DC that feature in-ground Swimming Pools, with an average list price of $2,453,980. There are additionally 2 Pool Homes currently under contract, with an average list price of $4,447,500. In March, 5 Pool Homes were Sold for an average sales price of $2,070,780. They were on the market for an average of 64 days.Tune in next Friday for updated statistics. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Gregory's Monthly Real Estate Newsletter: Newsletter.GregoryMaley.INFOStay Up-To-Date on Real Estate News & Advice: DailyNews.GregoryMaley.INFOChat with Gregory Online     (AOL, Yahoo, MSN, Google Instant Messengers):  RealtorGregory* * * * * * * * * * * * * * * * * * * * * * * * * *... 04/27/2007

New Construction Condos & Lofts   The developers of many new construction lofts and condos fail to advertise their units in the Multiple Listing Service.  I don't know why because it would open their sales to a much broader market of people like yourself that use the MLS to search for their next home.    Until now, you had to drive around town and look for signs on new construction to find out about these great properties.  Now, there is a great resource that consolidates the information into one website which I have provided below for your convenience.   All of these developers have budgeted to pay a commission to realtors for bringing buyers who purchase units from them.  These smart buyers realize that without a buyer's representative they must go through the entire process on their ... 04/26/2007

 I recently read an article on Money Magazine's website that addressed the possibility of the government and lenders allowing some borrowers with ARMs to swap them out for fixed rate mortgages.  Speakers at a Congressional hearing of the House Financial Services Committe called for restructuring ARM loans to help solve the subprime crisis. A Congresswoman from Ohio (which apparently leads the nation in the foreclosure rate) recommended the following three-prong approach:- Establish a rescue fund for short-term problems casued by illness, layoffs, or other one-time events.- Create a bond fund to pay for switching borrowers out of unaffordable ARMs.- Refinance loans for victims of predatory lending.These measures also calls for lenders to agree to modify the terms of existing loans to pre... 04/21/2007

 Have you ever applied for a mortgage and all of a sudden get a swarm of calls from other lenders the next day promising to give you a better deal?  This phenomenom occurs because the credit bureaus (Equifax, Experian, and Transunion) sell your information for a pretty penny and other lenders can buy this information on a daily basis.  With the cooling of the hot real estate market, many lenders are investing heavily in this type of lead generation for business.  It is very attractive to lenders because for the most part, all of the leads are currently in the market for a mortgage.  The "lead" is generated when your current lender pulls your credit.  This is one of the most sought after lead and the credit bureaus charge a premium for them.  As a consumer, you are open to shop around as... 04/17/2007

MyCommunity Mortgages: which are sponsored by Fannie Mae and is designed to assist low and moderate income families, public service employees, and disabled people to realize their dream of owning an affordable home.  This program allows for 100% financing and little to no money required into the transaction for those who qualify. I can't stress enough how great this Fannie Mae sponsored program is.  It allows certain borrowers to qualify for a home with no money down and less than perfect credit.  It is a great alternative to some of the subprime loans that are now disappearing from the marketplace.  The best feature of this loan program is that it offers a low interest rate that is fixed over 30 or 40 years, not just 2 - 3 years like the average subprime mortgage.  Most subprime borrow... 04/11/2007

We all know that the woes of the subprime market has now made it difficult for a good number of the population to obtain mortgages. Most of the 100%, no money down, no credit needed financing are now disappearing. Those of us with good credit may be thinking that "this won't affect me". Or maybe you are laughing at the people that took these loans and are now suffering the consequences of 2 year ARMs that are increasing by over 3% in interest rate. To make matters worse, these homeowners can't even refinance their homes because similar subprime loans are no longer available. In addition, their credit is not good enough to go "prime", so for many the only option is foreclosure. Well, the demise of the subprime market has some ripple effects on the rest of the market. For one, the tighten... 04/09/2007

We have all seen the increase in business for the home inspector in this buyer's real estate market. The professional home stager is another real estate business that is seeing a resurgence in activity. This Spring will see an increase in homes on the market and each seller needs to get every competitive advantage available to them. The setup, look, feel, furniture, smell, and lighting of your home could have a more positive effect on a potential transaction than a lower sales price. Homes that are cluttered with children's toys and/or pet odors or hair may be hurting their chances of getting an interested buyer. With so much inventory on the market, it is easy for a buyer to move on to the next property. Sellers may consider hiring an accredited professional stager (ASP) who can help t... 04/09/2007

I have been working with a lot of first-time buyers as of late and several of them have asked me...what questions should I be asking that I'm not asking?  It has really reminded me that oftentimes, first-time buyers just don't know what they don't know. :)So, in response, here's some pointers I share with my first-tme buyer clients to help them through the process.*The Pre-approval process - I provide all of my buyers with a glossary of terms...Basically, what is an ARM, and I/O loan?  There are so many types of loans and programs out there that many times they don't know what to choose.  While a good loan officer with walk them through the process, if they've brought in their own lender, I don't necessarily know how that lender operates, so it's good to do a checks and balances with bo... 03/27/2007

 With spring upon us, there will be an increase real estate market activity.  Sellers will definitely be selling ..... and hopefully buyers will be buying :).  But what are the best strategies for getting the best deal out there.  Well today, I am on the buyer's side ... sorry sellers ;).  One technique that I use when negotiating an offer price is to find out what the current owner paid for their property.  The days of $100,000 appreciation per year are gone, so owners are now more willing to negotiate.  But what if the owner paid $500,000 for that great property in 2006 and now is selling it for $525,000 and it is really worth $475,000?  Chances are he or she will not have much if any negotiation room.  If a buyer offers less than that .... lets say $500,000, he or she may be wasting ... 03/26/2007

Adams Morgan is located in the Northwest part of Washington, DC.  The area is best known for its diverse resturants and nightlife.  I would guess there are some 50 or so restuarants and bars.  The different choices in food include, but not limited to:  French, Spanish, West African, Ehtiopian, Mexican, Chinese, Italian, and American.  The nightlife includes places like The Angry Inch, Adams Mill, Millie & Als, Heaven & Hell, and many more.  I lived above two restaurants, The Diner and Fasika's Ehtiopian Restaurant, and was there only a short 15 months.  Everyone I met in the area were wonderful.  If traveling to Washington, DC, I highly recommend visiting the Adams Morgan area for the food or the nightlife or both. 03/24/2007

I wanted to share this with everyone. I was out with some friends the other night and this came up in discussion. I found this extremely interesting. Most of what is mentioned, I never knew about. This is great for you history buffs.  Especially number 6, the physical traits. Pay attention to this one.  Why do we guard the grave of an Unknown Soldier? War has always taken our best and brightest when they are too young, with their entire life ahead of them. Families of fallen servicemen need to have closure. . . so they can move past their grief and loss. With the lethality of modern weapons, identifying the bodies of our warriors was more difficult in the past, and many times the military could not provide families with positive identification. Their pain continued as they wondered abo... 03/24/2007

 While many real estate professionals have experienced a slowing in business, there is one group that has seen an upturn .... the home inspector.  While we had the torrid pace of home sales during the 2000 - 2005 real estate boom, the home inspector was relatively left out in the cold.  If you presented a contract with a home inspection in many markets, the seller would chuckle as he or she dropped your contract in the trash.  Even buyers' agents would urged their clients not to attach home inspections to their contracts.  Most of a home inspectors business was based on "information-only" purposes inspections.  Fast forward a couple of years and now the home inspector is back.  The new market has made the home inspection customary and they are becoming an excellent negotiating tool for ... 03/22/2007

 A common mistake among real estate investors (I am guilty of this too, when I first started investing) is that they often do not deduct depreciation on their investment properties when doing their taxes.  The government allows you to take a depreciation deduction each year on your investment properties.  There is a schedule that tells you how much your property has "gone down" in value each year.  The idea is that property gradually degrades over time, so its value also decreases over time.  In general this is true of furniture, television, vehicles, etc.  But the same cannot be said for real estate.  Real estate has a "perceived" value that usually gradually increases over time.  But good old Uncle Sam has provided this nice perk for real estate investors.  Even though we know propert... 03/20/2007

 In this slowing real estate market a promissory note may be a good alternative for investing in properties and creating a steady stream of income.  This is similar to offering someone a 2nd trust or "piggy-back" loan that accompanies a 1st trust or primary loan.  This could also be a good option for sellers that may have a potential purchaser that needs a 2nd loan to complete the transaction.  This scenario will only work with sellers that have a good amount of equity in their homes.  The seller will need to pay off their own mortgage and have enough equity to offer a 2nd trust and maybe pocket some profits.The promissory note process is not very difficult and I have actually done it myself.  You can get sample promissory notes on the web and then have a real estate attorney look it ov... 03/20/2007

 This is probably a tax law that many of you know already, but I feel compelled to state it just in case there are a few who are unaware of its benefits. We all know about the tax law that states if you live in your primary residence for two year out of the last five years, you can keep up to $250,000 from the profits from the sale as an individual or $500,000 for a married couple. The two years does not have to be consecutive. It could be one year in the beginning of the five years and one year at the end of the five years, does not matter. Well, if you have a investment home (single-family) that you have held for a while and has greatly appreciated, you can apply the same rule to the investment home. Normally, you would have to either pay tax on capital gains or roll the gain into ano... 03/19/2007

 Here is a link to part of an audio interview that I had with an owner of a reputable settlement company.  We are discussing the mistakes people make before, during, and after settlement.  This interview is part of an 8 question interview conducted in Maryland a few weeks ago.  The full interview is available at my website www.HouseWealthy.com and run about 46 minutes in total.  Listen to the audio of the Real Estate Attorney Interview.  I ask the real estate attorney what mistakes does he commonly see before, during, and after settlement.Build Wealth Through Real Estatewww.HouseWealthy.com 03/19/2007

 Now seems like the perfect time for the first-time buyer to step up to the plate and take advantage of the cooling market.  A cooling market does not mean a bad market, just a return to a more normal market.  Houses will continue to be sold .... sellers will sell, buyers will buy, and homes will appreciate over time.  All of this will just happen at a more normal pace as compared to the 2000 - 2005 time periods.   A normal market means that home buyers have more time to look around, compare homes, and make informed decisions.  This was a non-existent phenomenon during the boom years.  Many first-time buyers could not react quick enough to secure the house of their dreams.  The quickened pace of home sales did not allow inexperienced first-time buyers to comfortably evaluate potential h... 03/19/2007

I run across many first-time homebuyers that have trouble coming up with money for closing costs or downpayment.  This seems to be a hurdle on the road to homeownership for many people.  But with decent credit (600 or above) you can qualify for many community programs that allow 100% financing at competitive interest rates.In addition to these programs there are a few tricks and techniques that one may consider when making a purchase.Technique 1:If you are limited to only 3% closing help from the seller (because of a particular loan program), consider asking the seller to pay for all state transfer and recordation taxes.  This is customarily split between the buyer and seller in most states, but you can ask the seller to pay for the whole amount.  This is usually not considered "closing... 03/19/2007

 With all of the fallout of the subprime market and the bad press on ARMs, Option Arms, and Interest-Only loans, it seems like the only good option nowadays is the traditional 30-yr fixed principal and interest mortgage.  Rates are still at relatively low levels hovering around the 6% mark.  It is true that a 30 yr fixed principal and interest mortgage is the safest bet, but I think homebuyers should also give some thought to the 10 year interest-only 30 year fixed mortgage.  This is one of the only loans available that gives you a fixed-rate with an option to make interest-only payments when you want to.  How is that?  Well, an interest-only loan does not restrict you to making only interest payments.  You can make payments to principal at anytime.For example:A $400,000 mortgage with a... 03/19/2007

Since the market has cooled in many cities, many new investors are starting to panic because they are worried about how to now make money in real estate. They can no longer buy a property, slapped on some paint, and sell it six months later for a $50,000 profit. These investors are used to making money through quick appreciation or asset growth. This is really a secondary means of making money in real estate. The recent boom has given the false impression that property prices always go up. The key to building true wealth in real estate is through buying and holding. Good and consistent tenants can create wealth for you by paying for mortgage, insurance, taxes, and other fees through rental payments. The power of leverage also allows you to make huge returns by using the banks money. If ... 03/16/2007