#UrbanCastle
where you live is your castle

 
The Scoop on DC Living
February 2016
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BRETT WEST

REALTOR  ® 
DC, Maryland, Virginia

 


Great Deals Are Like Beauty - All In the Eye of the Beholder

Let's face it: everyone wants a great deal. And usually that means the lowest price possible on an item we really want.

But if we are guaranteed a great price, what if the product is a lemon that bleeds our bank account dry?

I'm here to ensure consumers are examining the "other side" of a good deal.

For instance, I am frequently asked about foreclosure properties on the premise that a good price is to be had. But, as someone whose primary professional responsibility - and industry longevity - relies on the long-term happiness of my clients, it is important to understand the health of the property. If a homeowner was forced into foreclosure, were they even capable of maintaining simple things around the home, such as rain gutters or downspouts and diverting water away from the foundation ...or is there considerable amounts of deferred maintenance? Chances are, if the former owner faced financial distress, the property faces some conditional distress as well. In my book, this decreases the value of what may have appeared to be a good deal. So the buyer should be aware of these potential problems and ensure they have cash on reserve to repair unforeseen problems.

Conversely, a newly built home may come with all sorts of incentives thrown in by the builder to decrease sticker shock. But how much of the new home contract is swayed to favor the builder? Nearly 100 percent of it. But a good builder will also provide warranties on their product. A 1-3-10 warranty - 1 year for appliances; 3 years for mechanicals like HVAC; and 10 years for major structural - means the builder stands behind their product. This inspires confidence in buyers. A builder promising one year, and that's it ...well, the product may be superior, but the business practice seems a tad fishy and cheap - and lacks much to be desired in terms of providing the buyer with a great deal.

That's my professional opinion. 

In every case, knowledge and understanding is the power to make the purchase a success. The most knowledgeable consumer is also the most powerful consumer.

If information is power, my mission is to help create the most powerful consumers of real estate on the market!

- Brett
Featured Property!
 
I was on my way to entering this beautiful colonial #UrbanCastle as available to a good new owner, but we went under contract with escalations after a mere five days!  Click here for the virtual tour...



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#UrbanCastles on the Market

AVAILABLE INVENTORY OF #URBANCASTLES

As of February 4, 2016, DC boasts 1,077 properties actively on the market for sale - approximately 20 more than a month ago. This excludes FSBOs (For Sale By Owner) and pocket listings. Here's a look at inventory by price range throughout the hot 20011 DC zip code, which includes 16th Street Heights, Brightwood, Crestwood, Petworth and the northern reaches of Columbia Heights, where there are currently 84 active properties:

 

$0 to $350k

(12 total units available)


 

$350k to $500k

(12 units available)


 

$500k to $800k

(48 units available)


 

$800k+

(14 units available)

 

Not finding exactly what you're looking for in the selection of inventory in DC? Feel free to check out plenty of inventory throughout the DC Metro Area, or drop me a line to schedule a time to talk with you about your goals.

 

 

www.BrettWest.com

202.552.5604 direct

202.744.0576 mobile  

BWest@McEnearney.com 

 



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