R E A LTOR
Coming Soon – A New GCAAR.com
Get ready. We’re almost ready to launch the new gcaar.com!
Official publication for the Greater Capital Area Assocation of REALTORS®
You’ll need to knowSOON: your GCAAR member number and COMING password to access certain info on the site so you’ll A NEW GCAAR.COM - page 6 be ready to go when the site is launched. Contact email@example.com to get your login info.
Solar Panel Issues Heat Up - page 10 How to Market When Interest Rates Rise - page 22
Look for info about the launch on email, social media, and the current gcaar.com.
CAPITAL AREA REALTOR® • May/Jun 2014
we get it Real estate agents do whatever it takes to get the job done. ® Coldwell Banker understands. We offer dedicated, professional support and innovative, company-paid tools that free you up to spend more time on the things that matter most – winning new business and closing more sales. Partner with a brokerage that makes things easier.
Nothing in this document is intended to create an employment relationship. Any affiliation by you with the Company is intended to be that of an independent contractor agent. ©2017 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered service mark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Operated by a subsidiary of NRT LLC. 13428MA-2/17
CAPITAL AREA REALTOR® • May/Jun 2014
R E ALTOR
New Website Coming Soon – p. 6
Solar Panel Issues – p. 10
Coaches’ Corner – p. 22
REALTOR® Toolbox - p. 34
in every issue
Professional Standards Citation System
Ask the President
Don’t Let This Happen to You
Coming Soon: A New GCAAR.com
NAR Director’s Report
Bright MLS Compliance Tip
Solar Panels Issues Heat Up
GCAAR Happenings/Meet Your GCAAR Committee
Agent Spotlight: Jill Barsky
Welcome New Members!
The Back Porch
GCAAR in the News
REALTOR ® Toolbox
Capital Area REALTOR® (USPS 017-467) is published five times a year by the Greater Capital Area Association of REALTORS®, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850. Periodicals postage paid at Rockville, 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. POSTMASTER: Send address changes to Capital Area REALTOR®, ATTN: GCAAR, 15201 Diamondback Drive, Suite 100, Rockville, MD 20850. 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 necessarily reflect the opinion 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 the items become the property of the Greater 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 submissions, including camera-ready advertising, is the first of the month prior to publication. Reprint with permission only. Reprints may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301.590.2000; via fax at 301.590.2248; or send an e-mail to firstname.lastname@example.org.
15201 Diamondback Drive, Suite 100 Rockville, MD 20850 Phone: 301.590.2000 I Fax: 301.590.2248 www.gcaar.com
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. Copyright ©2017 by the Greater Capital Area Association of REALTORS®. All rights reserved.
CAPITAL AREA REALTOR® • May/Jun 2014
board of directors
ask the president Q: I heard that GCAAR is moving its DC location to
Dupont Circle. Where exactly is the new site and when will it be open for members?
President Jamie Coley
President-Elect Tom Daley
Secretary Koki Adasi
Treasurer Thom Brockett
A: Yes! The DC Association of REALTORS® purchased an office condo at 1615 New Hampshire Ave, NW. GCAAR invested in the purchase as well. The property closed in December of 2016 but the previous owner is renting back through April. We are working with an architect to design the space to fit our needs. Designs include a 40-seat classroom, several meeting rooms, a member services/store area, offices, and we may even have a room or two to rent out for closings and other member needs. We will begin the buildout as soon as we have possession and hope to move-in in the fall. The New Jersey Ave location will be vacated once we open the new space. As we get closer to moving in, watch your GCAAR email for announcements and grand opening events! Q: I’ve got to renew my DC sales person license by the
end of August this year. Is GCAAR holding REALTOR® Fest again this summer and will it include the classes I need to renew?
Immediate Past President Peg Mancuso
Chief Executive Officer Mike Moran
Katrina Schymik Abjornson Jan Brito Jody Goren Brandon Green Jacque Grenning Susann Haskins
Hildy Pollard Andres Serafini Jason Sherman Danai Mattison Sky Frank Snodgrass Pat Weed
R E A LTOR
Managing Editor Bobette Banks
Design & Layout Carla Conway, Uncommon Design
Advertising Representative Arlene Braithwaite
® CAPITAL AREA 2014 2017 2 CAPITAL AREAREALTOR REALTOR• ®May/Jun — Mar/Apr
A: Everyone with a DC real estate sales license will need to renew by August 31 of this year. (Brokers’ licenses needed to be renewed by February 28.) REALTOR® Fest will be downtown this year to accommodate the many of us who need to renew those DC sales licenses. Mark your calendars NOW for Monday, July 24 at the Marriott Marquis, 901 Massachusetts Avenue, NW, Washington, DC. We will be offering nine hours of DC required courses, plus our usual array of professional development and networking opportunities, GCAAR Cares Silent Auction, the biggest local trade show around, and fantastic food.
It’s our biggest event of the year – be there!
PROFESSIONAL STANDARDS CITATION SYSTEM
Q&A Q: What is the citation system? A: The citation system is a way for a respondent in an ethics filing to acknowledge the complaint and elect to pay a fine rather than proceed with an ethics hearing. Q: Why would a REALTOR® choose to pay a fine rather than have a hearing? A: Hearings can be expensive for both parties. Preparing for a hearing means time away from the income-generating activities of your business. Some respondents elect to hire an attorney to represent them during the hearing, which can be very costly. Q: Can the person who filed the ethics complaint override the citation system and force the case to go to a hearing? A: No. If the complaint meets the guidelines for the Citation System and the respondent chooses a citation, the person who filed the complaint cannot request that the case be forwarded to a hearing. Q: How big are the fines and where does the money go? A: Fines for the Citation System start at $250 for a first-time respondent and increase depending on the seriousness and frequency of the issue. The fines go to cover a small portion of GCAAR’s Professional Standards expenses. Q: Who decides the fines? A: A schedule of fines was created by GCAAR’s Professional Standards Committee and approved by the Board of Directors. It outlines the Articles of the Code of Ethics that are eligible for citation and the fines for violating each. Not all Articles are eligible for the Citation System. A Citation Panel will review the case and inform the respondent of the recommended fine, if the system applies.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 3
Don’t Let This Happen to You! Submitted by Joy Liberti, 2015 Chair, Professional Standards Committee
Prevent Costly Mistakes by Having a Good System in Place We need systems in this business. Systems can remind us when to follow up with our clients, when to schedule events, when to process paperwork, and when to perform a myriad of other seemingly routine, but vital actions to keep our business on track. Without systems, things can fall by the wayside even with the best of intentions. We owe it to our clients to have an organized, systematic approach to our business so that the things we are responsible for are done in a timely manner, and in a manner that will protect our clients by reminding us of the important details we need to perform. Article 1, states in part: “When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client.” Having a good system, including good communication, probably would have prevented REALTOR® B from a making a costly mistake in the following case. Case #1-8:
Knowledge of Essential Facts Client A listed a small house with REALTOR® B who obtained an offer to buy it and a deposit in the form of a check for $2,000. Client A agreed to accept the offer then heard nothing from REALTOR® B, the listing broker, for three weeks. At that time REALTOR® B called him to say that the sale had fallen through and that the buyer’s check had been returned by the bank marked “Not Sufficient Funds” (NSF).
sional conduct and apparent unfamiliarity with essential facts under laws governing procedures in real estate transactions. At the hearing, it was established that two days after making the offer the buyer had refused to sign escrow instructions, and that REALTOR® B had not deposited the buyer’s check until ten days after receiving it.
The Hearing Panel concluded that REALTOR® B should have deposited the check immediately, in which event it would have been accepted, or its NSF status could have been known and reported to the client at once; that REALTOR® B should have advised his client immediately of the buyer’s refusal to sign escrow instructions; that in this negligence REALTOR® B reflected a lack of adequate knowledge of essential facts under laws governing real estate transactions, and was in violation of Article 1 of the Code of Ethics, having failed to protect the client’s interests.
Client A complained to the local Board of REALTORS® against REALTOR® B charging him with dilatory and unprofes-
REALTOR® B’s defense was that since the return of the check he had received numerous promises from the buyer that it would be made good, and that the buyer’s reason for refusing to sign escrow instructions was to give the buyer’s attorney time to read them. Questioning during the hearing established that the check had not been made good, the escrow instructions had not been signed, and the delay had caused great inconvenience and possible loss to Client A.
4 CAPITAL AREA REALTOR ® — Mar/Apr 2017
For more information, visit the Code of Ethics section on nar.realtor
Remember: violations of the Code can result in warning letters, letters of reprimand, required attendance at Ethics or other courses, and fines not to exceed $15,000.
Don’t Let This Happen to You!
Price appreciation will slow down Dan Deist President and CEO
Top to Bottom Services, LLC How long have you been an Affiliate with GCAAR? I joined GCAAR in July of 2011.
What are some of the events you support?
I’m a strong advocate and supporter of continuing education (CE). I believe through wisdom, training, mentorship, and professional instruction, the industry is elevated and our clients and our companies collectively benefit exponentially. As a result, I’m a proud member of the GCAAR Education Committee and its CE Subcommittee.
Nationally, home prices are
forecast to slow to 3.9% growth
year over year, from an estimated 4.9% in 2016.
“Prices are still likely to go up at an above-average pace as long
as supply remains so tight,” says Realtor.com Chief Economist
Jonathan Smoke. “The inventory problem is not going away.”
Why do you continue to support GCAAR as an Affiliate?
My mother was a REALTOR® for 35 years. I remember mom cooking for open houses. I recall her speaking with colleagues on the phone helping them write or understand contracts and teaching them successful negotiation tactics. I learned that by helping others be successful I in turn would be successful, and that the more money I made the more people I could help. The Affiliate program at GCAAR provides me with an opportunity to help others through effective education and a subservient attitude.
What would you say to people considering becoming an Affiliate? I know my business and my understanding of the industry have been accelerated by my Affiliate involvement. I would say that if you want to continue to grow and help others, the Affiliate program is an excellent vehicle to achieve those goals.
Why do you think being a member of GCAAR is important?
As a GCAAR member we are at the cutting edge of new opportunities. My mother and father were able to provide our family with a comfortable life and real estate played a huge role. My mother enjoyed her experience with GCAAR and that speaks volumes. I’m not a taker. I’m a giver. I love teaching and helping others in the industry and GCAAR affords me that opportunity. I couldn’t imagine not being associated with GCAAR.
Trends That Will Shape 2017
Recovery is good, but the flip side is that pricing is tougher for consumers. Throw in higher mortgage rates, and it becomes more challenging to be able to afford homes compared to what it was over the course of this recovery. — Jonathan Smoke, realtor.com
CAPITAL AREA REALTOR ® — Mar/Apr 2017 5
MEMBERSHIP – REALTOR ® TOOLS – GOVERNMENT AFFAIRS – EDUCATION & EVENTS – CONSUMER RESOURCES
COMING SOON a new gcaar.com! Get ready. We’re (almost) ready to launch. GCAAR is proud to bring you a new and improved online experience. We’ve completely redesigned our website to give you easier access and more control over what matters most to you. It will be easier to find the things you come to the site to do: • registering for classes • accessing real estate forms • getting housing market stats
Look for info about the launch on email, social media, and the current www.gcaar.com. 6 CAPITAL AREA REALTOR ® — Mar/Apr 2017
As the voice for real estate in Montgomery County and Washington, DC, we want to make sure our members and other visitors to our site have the best experience possible. Here are a few highlights: • The new site is responsive. That means it should work quickly and render nicely on your computer, mobile phone, or tablet. • We have a new member portal (My Account) located in the top right corner of the home page. Once you log in the first time with your GCAAR member number and password, you’ll be able to register for classes and events, pay your dues, check CE credits, and much more! • We’ve designated five main areas (landing pages) on the site: – Membership – REALTOR® Tools – Government Affairs – Education & Events – Consumer Resources Click on each landing page first for an introduction, and then select the drop down under each category to access more information.
• We’ve added features to the Real Estate Forms page so that you can access your forms a number of ways (by form number, title, revision date, and category)
• We’ve put access to the Housing Market Stats on the home page, so you can check out (and share) the latest housing info for DC and Montgomery County. You will need your GCAAR member number and password to access certain areas of the site. Don’t have it? Contact email@example.com.
We’ve added a new Consumer Resources section to put the information consumers need right at their fingertips…find a REALTOR® or Affiliate, search for homes, calculate mortgage payments - these just a few of the things consumers will find here.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 7
association news DC Hot Topic: Regulating Airbnb
Photo : John MacDougal, AFP/Getty Images
You just bought your first investment property – a one-bedroom condo near Nationals Stadium and are thinking about listing it on Airbnb. But wait – what exactly are the rules? Does TOPA apply? What rights do those staying with you have? What rights do YOU have? The DC Council is now looking to regulate short-term rentals and home-sharing agreements, such as those offered on Airbnb and VRBO (Vacation Rentals by Owner). A recently-introduced bill would limit hosts to renting only one unit at a time, and only in their permanent homes. The
number of days for each rental would be limited to 15, and additional licensing and notice requirements would apply. The DC Association of REALTORS® (DCAR) opposes this bill. It does not address the Council’s main concern, which is ensuring safe and affordable housing for residents and visitors, and is entirely too restrictive on property rights. DCAR will continue to closely monitor the issue as it moves through the legislative process and communicate the concerns of our members to the Council. Until there is clarity in the law, REALTORS® and their clients can consult an attorney and the Department of Consumer & Regulatory Affairs (DCRA) before renting out units on a home-sharing platform.
Women’s Council of REALTORS® - Valuable Resources, Networking, and Much More Our Women’s Council of REALTORS® meetings just keep getting better and better. The Women’s Council of REALTORS® (WCR) is the twelfth largest U.S. women’s professional organization and has one of the most successful communication networks in the National Association of REALTORS® (NAR) family. There are over 80 local chapters across the country. Chapter membership includes real estate professionals and related industry vendors who support the objectives of WCR and are interested in serving the industry, the community and fellow REALTORS®. The Greater Capital Area (GCA) chapter of WCR was chartered in January 1990. The local chapter has members working in the Maryland, District of Columbia, and Virginia markets. The chapter prides itself on bringing members current and relevant information that will be readily incorporated and grow everyday business.
Not just for women — men are welcome too!
® ® CAPITAL AREA • May/Jun 2014 2017 CAPITAL AREAREALTOR REALTOR — Mar/Apr
Why become a member? • Local support, national strength • Networking and referral opportunities at the local and national levels • Professional and personal development Performance Management Network (PMN) designation • Information and Resources eConnect WCR.org • Fun events Make plans to attend one of GCA WCR’s meetings before the end of the year and stay tuned for details about their ever popular Shrimp Boil in August.
Meetings are the third Wednesday in the month from 9:00 – 11:30 a.m. at GCAAR, 15201 Diamondback Drive, Suite 100, Rockville, MD.
GCAAR happenings Women’s Council of REALTORS® Talk Design Trends/Being a Real Estate Superstar Granite or quartz? Gray or beige?
Those were just some of the questions asked at the Women’s Council of REALTORS® meeting on February 8. Design Trends. What’s In - What’s Out was the meeting topic, and attendees enjoyed a lively and informative discussion on all types of design trends featuring Amanda King from The Neighborhoods of EYA, Tiffany Parker from Parker Interiors, and Colleen Shaut and TJ Monahan from Case Design.
March 8 speaker Karen Briscoe.
Designers shared their expertise. L-R: Amanda King, The Neighborhoods of EYA; Tiffany Parker, Parker Interiors; Colleen Shaut and TJ Monahan, Case Design.
On March 8, Karen Briscoe, author of “Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed,” shared key strategies on how to improve your business with proven strategies that are easy to implement and maintain.
It’s a DC Renewal Year! Save the Date
A day of education and networking with dynamic instructors, exhibitors, and relevant courses to take your real estate career to the next level! Receive over 10 continuing education hours from Maryland, DC, and Virginia, all at
Monday, July 24 - Marriott Marquis, Washington, DC Details and registration coming soon!
REALTOR® Fest! REGISTER EARLY!
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 9
Solar Panel Issues Heat Up
Solar panels are causing lending issues with mortgage lender Fannie Mae as more people get into contracts for FREE solar panels. Fannie Mae’s Selling Guide has outlined certain requirements that must be met when the subject property has solar panels leased from or owned by a third party under a “Power Purchase Agreement.”
® CAPITAL AREA AREA REALTOR 2014 2017 10 CAPITAL REALTOR•®May/Jun — Mar/Apr
Solar Energy Statistics 600 sq. ft – Average solar panel size needed
to power the average home
8.2 Million Quads Amount of solar energy that hits the earth each year
75 Million Barrels
Barrels of oil saved annually by all solar energy users
Germany, Spain, Japan, United States, Italy Top five countries with the most installed solar energy Source: www.statisticbrain.com/solarenergystats
If the panels are owned outright by the property owner there is no issue. However, when an original or amended power purchase agreement is in place for solar panels, the following is required: 1) The solar panels may not be included in the appraised value of the property. 2) The property must maintain access to
Payments under power purchase agreements where the payment is calculated solely based on the energy produced may be excluded from the debt-to-income (DTI) ratio. The lease or power purchase agreement
requirement, the lender may verify
must indicate that:
that the owner of the solar panels
Any damage that occurs as a result of
is not named loss payee (or named
installation, malfunction, manufactur-
insured) on the property owner’s
ing defect, or the removal of the solar
property insurance policy; and
an alternate source of electric power
panels is the responsibility of the owner
that meets community standards.
of the equipment and the owner must
3) The monthly lease payment must be included in the debt-to-income (DTI) ratio calculation unless the lease is structured to provide delivery of a specific amount of energy at a fixed payment during a given period,
be obligated to repair the damage and return the improvements to their original or prior condition (for example, sound and watertight conditions that are architecturally consistent with the home);
In the event of foreclosure, the lender or assignee has the discretion to 1) terminate the lease/agreement and require the third-party owner to remove the equipment; 2) become, without payment of any transfer or similar fee, the beneficiary of the borrower’s
and have a production guarantee
The owner of the solar panels agrees
that compensates the borrower on
not to be named loss payee (or named
a pro-rated basis in the event the
insured) on the property owners
solar panels fail to meet the energy
insurance policy covering the resi-
output required for in the lease for
dential structure on which the panels
with the third party, under terms no
are attached. As an alternative to this
less favorable than the prior owner.
lease/agreement with the third party; or 3) enter into a new lease/agreement
Remember Any exceptions to coverage on the title insurance policy for recorded instruments relating to the solar panels must comply with Fannie Mae’s Selling Guide – Section B7-2-05, Title Exceptions and Impediments (02/23/2016)
For more information, visit the National Association of Mortgage Processors’ (NAMP) website at: www.mortgageprocessor.org.
gcaar.com • May/June 2016 CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 11
GCAAR happenings YPN Happy Hour Teddy at the Bully Bar – March 23 As usual, GCAAR’s YPN does everything in a big way, and their first happy hour of the year was no exception. It was a crowd at Teddy at the Bully Bar, a DC restaurant serving Theodore Roosevelt-inspired American fare and cocktails.
Want to know about YPN?
Visit them at www.gcaar.ypn.com or follow them on Facebook.
L-R: The McEnearney Crew. L-R: April Myers, James Kim, Kirby Mitchell, Nicole Donald.
Jake Ryon, First Home Mortgage, YPN Vice Chair; Jessica Evans, Real Living at Home, YPN Community Service Chair; Matt Scarlett, Keller Williams Capital Properties, YPN Events Committee; Harrison Beacher, Keller Williams Capital Properties, YPN Chair.
Sam Lin, Real Living at Home, YPN Communications Subcommittee Chair; Monique Malabet, Keller Williams Capital Properties, YPN Communications Subcommittee.
Meet Your GCAAR Committee
The Communications Committee reviews and recommends communication delivery methods and content and also contributes content for print and online communications. Chair: Tina Del Casale, Vice Chair: Avi Adler Staff liaison: Bobette Banks Members Peg Beck CJ Davis Wanda Farrar Mark Hudson Christopher Kearney Elley Kott AREA REALTOR • May/Jun 2014 12 12CAPITALCAPITAL AREA REALTOR — Mar/Apr 2017 ®
Isabel Lerma Claudia Matus Andres Serafini Danai Mattison Sky Dick Stoner
GCAAR Communications Committee Front Row: Tina Del Casale, Chair; Avi Adler, Vice Chair. Back Row L-R: Bobette Banks, Staff Liaison; Danai Mattison Sky, Board Liaison; Mark Hudson, Peg Beck, Chris Kearney, Elley Kott, Dick Stoner.
Not pictured: CJ Davis, Wanda Farrar, Isabel Lerma, Claudia Matus, Andres Serafini.
Agent Spotlight MEET JILL BARSKY - The Pet Friendly REALTOR FINDING HOMES FOR PEOPLE AND ANIMALS
Jill Barksy’s love of animals goes back to her childhood where she and her sister took in a stray cat for almost a year unbeknownst to her parents. This was only the beginning of Jill’s lifetime of dedicating herself to making a difference in the world of pet rescue. Jill’s firm belief is that she is here to speak for those that cannot speak for themselves. Throughout the years the number of animals Jill has saved personally and through her rescue has made an impact on the community and across the country. It is her mission in life that one day she won’t be needed and there will be no more homeless pets. As an Associate Broker with Long & Foster, she has combined her love of animals and her real estate business into becoming the Pet Friendly REALTOR®, where she lists and finds rental properties for clients with pets. She also specializes in listing and selling homes for people with pets or those thinking of adopting pets. Her love of animals embodies everything about her and she works hard to give rescues loving homes. Through her non-profit organization, Tailed Treasures, she matches needy pets with fosters and helps to pay for their spay and neutering, microchipping, and shots. She also spends many hours volunteering for a number of animal-related organizations. Jill helps people find lost pets and educates pet owners on pet safety, all while taking time to mentor new agents. Jill stresses that if an agent is working with clients who have pets or is listing pet-friendly properties, to get in writing the exact language from the owner and the HOA/Condo associations (if there are ones) so everyone is clear on the rules. Many transactions fall apart because people are not willing to rent, buy, or sell without their beloved family members. Jill believes it’s important to find DREAM homes for her clients and their four-legged clients as well. There’s a joke in the Long & Foster office that by the time you finish a transaction with Jill you will either adopt another if you already have one or adopt a new member of the family. In addition, part of every one of her commissions goes The moral progress to an animal rescue league of the client’s choice. If you want to learn more or help her do more, please visit her website: www.tailedtreasures.com or www.jillbarsky.com
of a nation can best be judged by the way it treats its animals. MAHATMA GANDHI
Jill Barsky – The Pet Friendly REALTOR® HAVE A STORY YOU WOULD LIKE TO SHARE? Send it to: firstname.lastname@example.org.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 13
Lead the way. Earn your PSA. Take the guesswork out of pricing homes. Whether you’ve been a REALTOR® for years or just listed your first house, it’s essential to price homes accurately. Now is the time to master this essential skill by becoming a Pricing Strategy Advisor (PSA). This certification will make you an invaluable resource for your clients by: • Creating Comparative Market Analyses (CMAs) • Working with appraisers • Using the latest technology • Addressing home pricing misperceptions Determine a home pricing strategy with confidence. Learn the skills that result in accurate prices.
Learn more at PricingStrategyAdvisor.org.
NAR Director’s Report Tom Daley 2017 President-Elect, NAR Director
NAR in DC: May 15 - 20
It doesn’t matter which side of the aisle you’re on – things are changing in Washington. If you’ve never been to the REALTORS® Legislative Meetings & Trade Expo, (unofficially known as Midyear) this is your year. Every year NAR’s mid-year meetings are held right here in DC and are FREE to all members of NAR. In addition to the politically focused meetings and presentations, the mid-year meetings offer many of the same sessions you would hear at the annual convention in November, without the expense of registration or hassle of travel. Now, more than ever, our voice is essential in the political and legislative arena. Take a few hours out of your week to listen in. Not sure what to attend? Consider these events: America Under President Trump: A View From Washington: Every year NAR selects an analyst to present an overview of the current political climate. Featured this year is Fox News Sunday host Chris Wallace. Wed, May 17, 8:30 a.m. NAR 360: This opening session offers a 60-minute overview of what our one million plus member organization is doing. You can get in a full day of work before this 4 p.m. session starts – no excuses! Tues, May 16, 4 p.m. Trade Expo: Browse the latest in real estate products and services from 100 industry-leading companies: lead generation systems, Internet prospecting solutions, virtual tour technology, financial services, and more. Wed and Thurs, May 17 – 18, 10 a.m. – 6 p.m. DCAR Happy Hour: Join fellow DC REALTORS® at Lebanese Taverna, just across Connecticut Avenue from the hotels, for a drink and a few bites after the meetings. Thurs, May 18, 5 – 7 p.m. RSVP at www.dcrealtors.org Registration for the meetings is free but required, even if you are just interested in attending one session. All sessions are held at the Marriott Wardman Park and Omni Hotels. Details and registration at www.nar.realtor.
RPAC @ the REALTORS® Legislative Meetings & Trade Expo –
What would a legislative meeting be without RPAC? Nothing much. The REALTORS® Political Action Committee (RPAC) is a huge part of NAR’s legislative meetings. RPAC Trustee and Investor Councils meet, fundraising training sessions are held, and awards are given to the states that meet or exceed specific goals. Interested in learning more? Contact the chair of GCAAR’s Political and Campaign Affairs Committee, Koki Adasi.
Online Library NAR offers so many resources for members it’s difficult to stay on top of them all. If you’re a lifelong learner, a library filled with the most up-to-date materials available day or night is essential. Did you know that your membership with NAR includes thousands of free audio and ebooks to help you continue growing and expanding your business? Bestselling titles include “21 Things I Wish My Broker Had Told Me,” by Frank Cook, and an audio version of “Mindset – The New Psychology of Success,” by Carol Dweck. Check out these titles and so much more at https:// www.nar.realtor/library There is no charge for NAR members to use any of these resources. Take advantage of these benefits, and so much more, today!
LISTEN TO AUDIOBOOKS INSTANTLY IN YOUR BROWSER
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 15
Paragon Title & Escrow Company
Proudly Welcomes the Newest Member of Our Settlement Team BRADLEY M. ROTHSTEIN Brad grew up in Potomac, earned his B.A. from Syracuse University and his J.D. from American University Washington College of Law before joining Paragon Title in October, 2016. www.ParagonTitle.com 301.986.1114 7415 Arlington Road Bethesda, MD 20814 …and coming soon to 14th St. NW!
Visit www.brightmls.com for more information and all the latest news
By Michelle Yam, Bright MLS Compliance Department Manager
Using the Matrix Roster Function to Find Selling Agent Information
Use the search form to enter the agent’s information. You can enter any combination of the agent’s first/last name, nickname, company name and broker code.
Ever needed to enter the selling agent’s ID, but you didn’t have it? This happens when you change the status of your listing to a Contingent or Contract status and are required to enter the selling agent’s user ID.
If your search results yield more than one name, look through your search results to match the agent by branch office or broker code. If no agent matches your search criteria, review your search criteria to see if you’ve typed everything correctly. If you have confirmed that you’ve used the right information and you still have no results for your search, you can enter the user ID as 9999 when you change the status of your listing.
Paragon ad.indd 1
If the selling agent does not provide you with his or her user ID, you can look it up using the Roster function in Matrix. Hover over the Roster tab and click on Agent.
® CAPITAL AREA AREA REALTOR 2014 2017 16 CAPITAL REALTOR•® May/Jun — Mar/Apr
Make sure you get the number right!
Using any other combination of numbers may enter the incorrect selling agent.
2/4/2017 6:44:53 AM
membership corner Maryland REALTOR® Emeritus Process A REALTOR® member who has held primary membership in the Maryland Association of REALTORS® (MAR) as a REALTOR® member for a cumulative period of fifty (50) years is eligible for REALTOR® Emeritus status.
HOW DO I SUBMIT AN APPLICATION FOR MAR CONSIDERATION? You must contact the first REALTOR® association you joined for documentation of your application of membership. If the first REALTOR® Association you joined was in Montgomery County, check your records with GCAAR by emailing email@example.com and requesting a review of your records for Emeritus status consideration. Once membership is verified, you can fill out the Emeritus application on our website, gcaar.com. After receipt, GCAAR will submit the application to MAR for review.
tors’ approval. A completed application is necessary to begin the approval process for REALTOR® Emeritus status, which must be completed by the candidate’s local association. Documentation substantiating the candidate’s fifty (50) years of membership must be attached to the application. Certification forms are due to MAR no later than one week prior to the January meeting of the MAR Board of Directors. The Certification form is available at the MAR office.
Upon approval of the application by the MAR Board of Directors, no further payment of dues to the Maryland Association is necessary by the Member Association of which the REALTOR® Emeritus is a member.
Please submit all applications to: GCAAR Attention: Jacqueline Morgan Fax: 240-238-5201 Email: firstname.lastname@example.org
Please Note: The dues waiver does not take effect until the dues year immediately following the Board of Direc-
Applications can be submitted through December 15, 2017.
FOR QUESTIONS ABOUT SENTRILOCK SERVICE –
Call SentriLock Support at (877) 736.8745 or send an e-mail to Support@SentriLock.com.
CAPITAL AREA REALTOR ® — Mar/Apr 2017 17
public policy Montgomery County Roger Berliner Featured at GCAAR Speaker Series Montgomery County Council President Roger Berliner headlined GCAAR’s first Speaker Series of the year on February 8. In addition to his responsibilities as President, Berliner chairs the Transportation, Infrastructure, Energy and Environment Committees, which tackle legislation of critical importance to REALTORS®. Montgomery Community Media covered the event. “GCAAR invited me here to share my thoughts on how our county can prosper going forward,” said Berliner. “I hope to assure them that we will, in fact, prosper going forward, and hopefully their business will do well and our county will do well.” GCAAR’s VP for Public Policy Ed Krauze introduced Berliner, saying, “the
L-R: MAR Past President Carole Maclure, GCAAR Board Member Koki Adasi, Roger Berliner, Public Policy Co-Chair Debbie Benkert, GCAAR Past President Greg Ford.
more conversation that is done out in the open, transparently, the better the discussion is.”
New Montgomery County Property Tax Credit for Seniors RESIDENTS The Montgomery County Council recently approved legislation to create a new property tax credit for seniors (65 years+) who have either 1) lived in the same home for 40+ years, or 2) are retired veterans of the US Armed Forces. The legislation’s intent is to alleviate some of the financial burdens that come with living on a fixed income.
® CAPITAL AREA AREA REALTOR 2014 2017 18 CAPITAL REALTOR•®May/Jun — Mar/Apr
Eligible residents will receive a 20% credit for the property tax imposed on their homes, granted annually, for up to five years. To qualify for the credit, the maximum assessed value of the home is $650,000 for those who have lived in their homes for 40+ years, and
$500,000 for veterans. Specific requirements apply. For details visit: www.montgomerycountymd.gov/ Finance/senior.html The bill goes into effect July 1, 2017. Those seeking the credit must apply by April 1 of the year in which the tax credit is sought. For 2017 only, the deadline was extended to September 1.
LEARN MORE AT: www.montgomerycountymd.gov/Finance/senior.html
public policy District of Columbia Improving DCRA and DHCD
DDC’s Department of Consumer and Regulatory Affairs (DCRA) and Department of Housing and Community Development (DHCD) affect your business in DC every day. The DC Association of REALTORS® is here to represent you and your ideas on how REALTORS® and the government can work more efficiently together. Recently DCAR presented testimony before the DC Council on the following issues. At DCRA we advocated for: • Streamlining the permitting & inspection process • Simplifying solutions for business licensing • Improving inter-agency communication At DHCD we advocated for: • More outreach on existing housing programs such as: • Home Purchase Assistance Program (HPAP) • Inclusionary Zoning (IZ) • Tenant Opportunity to Purchase Act (TOPA) • Decoupling funding for the Housing Production Trust Fund (HPTF) from recordation and transfer taxes (currently a percentage of these taxes goes towards the HPTF) • Funding for the new first-time homebuyer tax legislation DCAR thanks both Council Chairman Mendelson, charged with oversight of DCRA, and Housing Committee Chair Anita Bonds for their leadership. We look forward to working together throughout the year to implement our recommendations.
What’s New at DCRA?
In response to public comments, DCRA launched a new online appointment scheduling service. The service allows you to make an appointment from a computer or smartphone before visiting DCRA. Once checked in, you receive a notification on where you are in the queue and when your ticket is called. You can make an appointment at: www.dcra.dc.gov/onlineappt.
Do You Know About DC’s Carbon Monoxide and Smoke Detector Requirements?
We highly encourage you to learn more about the requirements and view frequently asked questions on the DCRA website: dcra.dc.gov/cosmokealarm. Here’s what you need to know about enforcement: As of March 28, 2017 the District of Columbia now requires the installation and maintenance of smoke and carbon monoxide alarms in buildings with residential occupancies, such as single-family homes and rentals. Both property owners and tenants are responsible for ensuring their units are in compliance. March 1 - September 30, 2017: DCRA will be educating the public about the transition and inspectors will begin issuing “warning” notices. Beginning October 1, 2017: Inspectors will issue a “Notice of Violation” to property owners failing to comply with the code, which may include a fine. If not corrected within a specified timeframe, you may incur a civil infraction fine.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 19
public policy LEARN MORE AT: www.realtor.org
on the Hill 2017 Federal Priorities As the largest professional trade association in the US, the National Association of REALTORS® (NAR) advocates policy initiatives to protect a dynamic real estate market. Here are their top four priorities this year:
1) Taxes For the past six years, the growing federal debt, weak economic recovery, and continued growth of tax complexity have kept tax reform near the top of the national agenda. Congressional leaders from both parties are highly interested in reforming the tax system. The ongoing debate places the mortgage interest deduction, mortgage debt forgiveness, and other real estate tax policies under increased scrutiny.
2) Credit and Lending Overly stringent lending standards have continued to limit the availability of affordable mortgage financing for credit-worthy consumers. Federal policymakers are weighing a number of proposals aimed at creating healthier housing and mortgage markets.
3) Insurance Congress must reauthorize the National Flood Insurance Program to ensure that property buyers and owners in 20,000 communities nationwide have access to the flood insurance required to obtain a mortgage. Additionally, as the Health Care Reform debate begins, NAR will strongly represent the interests of independent contractors and small firms, and access to quality, affordable insurance options.
4) Federal Lending Programs Programs administered by the Federal Housing Administration (FHA), the Department of Veteran Affairs (VA), and the Rural Housing Service (RHS) occupy a critical role in the nation’s housing finance system. These programs must not only be preserved but continuously strengthened.
Because of your voice and support, theses initiatives have become a top priority.
® CAPITAL AREA AREA REALTOR 2014 2017 20 CAPITAL REALTOR•® May/Jun — Mar/Apr
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*As of April 6, 2017
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 21
COACHES’ CORNER We’ve asked two of the top real estate coaches the following question — take a look at what they have to say.
In an environment where interest rates continue to rise, how do you approach clients that may be on the fence? Do rising interest rates change your marketing plan?
JULIE YOUNGBLOOD Julie was born and raised in Southern
Nevada and comes from a family that has been in the real estate industry for over 35 years. At an early age, Julie knew real estate was her passion. She has been engaged with her local association through various committees including, Community Outreach, Grievance, Professional Standards, YPN, Finance, Faculty, has served on the Board of Directors, and is a Trustee for the Nevada Association of REALTORS®’ Leadership Program. She runs Youngblood Coaching & Consulting, a coaching firm for real estate professionals. The objective is to give agents the tools they need to hit their goals. Julie was recently recognized nationally by Inman News as one of the “25 Best Real Estate Coaches in 2016.”
Creating urgency has always been the name of sales in real estate. Helping clients understand why NOW is the best time to buy or sell is really what can separate a producer from a market-dependent agent. In today’s climate, creating urgency is easier than ever before. Has anyone else noticed the outpouring of buyers who were waiting for the rates to hit “rock bottom?” The problem with waiting for the rates to hit rock bottom, is that you don’t know where the bottom is until you’re on the way back up - which is where we are today. When you take the rising interest rates, please keep in mind these are STILL historically low rates. Couple that with the massive shortage of first-time home buyer inventory, and you’ve got a hot, highly-competitive market in certain price points. I believe the education approach is best. The only way to educate is to be ridiculously excited about your market. Markets are local. Within our local markets are our micro-markets. I’ll speak more nationally, because it does impact the local market, and your job will be to super charge this information with what you learn and know about your local market. Here are just a couple talking points to help get clients in action! Housing market has recovered Nationally, we’ve recovered in the housing market. We’ve just finished the 5th best year in real estate trends. A couple of things played a huge
® ® CAPITAL AREAREALTOR REALTOR Sept/Oct 2016 CAPITAL AREA AREA • May/Jun 2014 2017 22 CAPITAL REALTOR —• Mar/Apr ®
I believe the education approach is best. role in the recovery of the housing market, one of the biggest being insanely low interest rates. Manipulating the interest rate is one way that the Federal Reserve can “fix” economic problems. It’s like a water spigot that they can turn on and off as they see fit based on the climate. Reducing interest rates increased purchasing power across the country. Now that things have stabilized and overall consumers are purchasing, the Fed must turn the spigot off (raise rates) so that if they need something to fix the economy with again, they have it. Not much affordable new construction inventory for firsttime buyers We also saw a huge slowdown in new home construction across the country over the past several years as we recovered. There are an estimated two million homes that did not get built over the last several years due to builders being one of the hardest hit. We are certainly seeing the new home market back and yet, they aren’t building an inventory of first-time home buyer products. We’re seeing them move more into the move-up and higher end luxury homes. These two things combined, in conjunction with your local market trends, have created a massively competitive market in certain segments. It’s a great time to sell, and, if your seller is also buying, what price range are they purchasing in? And, does that put them into the same micro-market in which they are selling? Educating a first-time home buyer on these points can keep them in the game and reduce disappointment. Agents get bad reputations when we fail to educate our clients on the market. We don’t make the market; we simply interpret and deliver the information to our clients so they are best prepared to succeed. If none of this helps in getting your clients into action, well, they probably just aren’t motivated. And if they aren’t motivated, you can’t help them. Until next time!
Got a question for our coaches? Send it to: communications@gcaar. com and it may be featured in an issue of Capital Area REALTOR®
In an environment where interest rates continue to rise, how do you approach clients that may be on the fence? Do rising interest rates change your marketing plan?
CANDY MILES-CROCKER “The Real-Life REALTOR®,“
coaches, mentors and trains new and experienced real estate agents to transform their business by mastering her proven systems for success. She is a firm believer in managing expectations and her goal is to elevate the perception of real estate agents among the general public through education so every client has an amazing real estate experience. Candy’s unique training methods have shown agents what it takes to be successful! Inman News selected Candy as one of the Top 25 Real Estate Coaches in 2016. Learn more at www.RLRETraining.com.
To say today’s real estate buyer is savvy is an understatement. They keep a close eye on home prices, housing inventory, and of course, interest rates.
The decision to buy a house is not one that is made on a whim. By the time the buyer comes to a real estate agent they have done a great deal of research, saved some money and checked out their credit score. To say today’s real estate buyer is savvy is an understatement. They keep a close eye on home prices, housing inventory, and of course, interest rates. The volatility of interest rates has been in the news for years, yet are still at historically low levels. Since the Presidential election in November we’ve seen interest rates changing on an almost daily basis. But the increases and decreases have been modest and buyers are well aware of those changes. It doesn’t matter where the interest rates are if you have to move. People buy houses when they have a strong or life-changing need. Home-buying decisions are made when people get married, divorce, have children, or downsize. People do what they have to do. As real estate agents, we can’t make anyone buy a house; we don’t have that kind of power. We can’t push people so hard that they feel uncomfortable with us. What we can do is inform the buyers of the changes in the interest rates and market conditions and how those factors impact their home-buying power. Simply put, we present the information and let them come to their own conclusion. Their motivation will be the key as to whether or not they buy now or in the future.
The state of interest rates may or may not change how you market yourself or your business. As interest rates change, you could do a marketing piece on how rising interest rates can impact how much house your clients can afford. Your marketing plan is about keeping your name in front of prospective clients and providing information that is valuable to the consumer. This reinforces your commitment to educating them and building that relationship so they trust you. When listing a house it’s a good idea to have your favorite lender put together a sheet showing the current interest rate and what the mortgage would be for the various types of financing. That simple visual could help buyers on the fence realize they could afford to buy a house.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 23
by Fred Flick, PhD Consultant and Housing Economist
The February Market
MONTGOMERY COUNTY The February sales market rose significantly from February 2016. The total sold dollar volume was almost $362.8 million – an increase of 11.4% from a year before. There were 701 closed sales, and these jumped 6.5%. The average sold price in February was $517,511 – up 4.6% from a year before; and, the median sold price came in at $389,900 rising 5.4%. Average days on the market (DOM) totaled 66, down a significant 17.5% from a year ago; the median number of 36 days dropped 35.7% from a year ago.
New pendings for February slipped from 1,052 to 1,040 properties, a 1% decrease. Furthermore, all pendings were down from 1,684 to 1,597 properties – a 6% decline. Charts of statistics for single-family homes and condominiums and coops over the past year are presented below.
Single-Family Homes Single-Family Contracts and Settlements 2/16 - 2/17 Single-Family Contracts and Settlements 2/16 - 2/17
Montgomery County Average Days on Market 2016-2017
Single-Family Contracts and Settlements 12/15 - 12/16
1400 1400 1200 1200 1000 1000 800 800 600 600 400 400 200 200 0 0
For all Montgomery County properties, in February the average days on the market dropped by 17.5% from 80 in 2016 to 66 in 2017. For the year so far, days on the market decreased from 79 in 2016 to 66 in 2017. That is a decrease of 16% over the year.
M J J M A M Contracts Contracts
A S O J J A Settlements Settlements
February single-family contracts (761) declined 1.3% from a year ago. Settlements hit 514 units in February – up 5% from last February. Year-to-date they totaled 1,059 homes – up 7.7%. Single-Family Listings and Inventory 2/16 - 2/17 Single-Family Listings and Inventory 2/16 -2/17
Montgomery County Pendings 2016-2017
2500 2000 1500 1000 500 0
February new listings totaled 940 homes, up 11% from February 2016. Total actives came in at 1,483 and were 15% below those of a year before. At the February contracts pace, there was only a 1.9-months supply of actives. A year before, the supply had been 2.3 months -- a 14% decline in the supply over the year.
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housing statistics MONTGOMERY COUNTY Montgomery County Single-Family Month’s Supply 2/2016 - 2/2017
February new contracts (252) were down 1.9% from a year before; Year-to-date they totaled 471 homes, up 11% from the same period in 2016. February settlements totaled 193 units – rising 13.5% from a year before. Condo/Co-op Listings and Inventory 2/16 - 2/17 Condo/Coop Listings and Inventory 2/16 - 2/17
Montgomery County Single-Family Month’s Supply
700 600 500 400 300 200 100 0
February new listings totaled 284 units, slipping about 7% over the year. Total actives were down to 496 units, dropping 14% from a year before.
Montgomery County Single-Family Prices: 20072007- 2/20172/2017 Montgomery County Single-Family Prices:
$650,000 $600,000 $550,000
Based on the February contracts pace, there was a 2.0-months supply of listings. This figure is down 12.6% from February 2016. For most of 2016, inventory could not break the 2.5-month barrier, and only hit three months or better in January and November. Montgomery County Condo/Coop Month’s Supply 2/2016 - 2/2017
$500,000 $450,000 $400,000 $350,000 $300,000
Average single-family prices in February declined by about 1% from the levels of 2016; while the median price slipped by 2%.
Condominiums and Cooperatives Condo/Co-op Contracts and Settlements 2/16 - 2/17 Condo/Coop Contracts and Settlements 2/16 - 2/17
400 350 300 250 200 150 100 50 0
County condo/coop average prices continued to rise. The February average price of $302,181 rose 6.4% from all of 2016; but, the $220,000 median slipped 3.3%. Condo/Coop Prices: 2007 - 2/2017 MontgomeryMontgomery County County Condo/Coop Prices: 20072/2017
$335,000 $315,000 $295,000 $275,000 $255,000 $235,000
CAPITAL AREA REALTOR — Mar/Apr 2017 25 ®
$215,000 $195,000 $175,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Feb-17
CAPITAL AREA REALTOR® • May/Jun 2014
housing statistics The February Market
WASHINGTON, DC The District of Columbia’s February market leaped from a year ago. The total dollar volume of over $383.1 million jumped 31.9% from February 2016. Total closed sales came in at 541 units – up 15.6%. While the average sold price of $708,178 rose 14.1%, the median sold price of $519,000 declined 3.4% from February 2016. Properties turned over faster compared to February 2016. The average 43 days on the market dropped 10%; and, the median figure of 18 days fell 10%. DC Average Days on the Market 2015-2017
Single-Family Homes Single-Family Contracts and and Settlements 2/16 - 2/17 Single-Family Contracts Settlements 2/16 - 2/17
600 500 400 300 200 100 0
Washington, DC new single-family contracts for February totaled 400 homes – up 10.8% from last February. Year-to-date there have been 715 sales. Also, there were 260 new settled sales, and they rose 8% from a year before. Through February, there have been 550 settled sales, up almost 15% from a year ago. For all DC properties, in February, the average days on the market dropped by 10.4% from 48 in 2016 to 43 in 2017. From February to February, the average DOM declined from 48 to 45 in 2017.
Single-FamilyListings Listingsand andInventory Inventory2/16 2/16 -- 2/17 2/17 Single-Family 800
Washington, DC Pendings 2016 - 2017
600 400 200 0
Need original Chart - not in Excel file F
New pendings for February rose from 722 to 797 properties, a 10.4% increase. And, all February pendings rose from 1,180 in 2016 to 1,224 properties in 2017 – a 3.7% increase.
February new listings totaled 464 properties, leaping 19% from a year before. The inventory of total actives was 622 homes. These were up almost 10% from a year before. Single-family month’s supply at the February contracts pace was 1.6 months. This was down 1.2% from a year before. Single-family prices through February came in at $840,585 for the average, and $607,500 for the median. The average increased 5.7%; however, the median slipped by 10% from 2016.
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Condo/Coop Listings 2/16 - 2/17 Condo/Coop Listingsand andInventory Inventory 2/16 - 2/17
WASHINGTON, DC 1000
DC Single-Family Month’s Supply: 2/2016-2/2017
750 500 250 0
Need original Chart - not in Excel file F
District of Columbia Single-Family Prices: 2007 - 2/2017 District of Columbia Single-Family Prices: 2007 - 2/2017
$900,000 District of Columbia Single-Family Prices: 2007 - 2016
The month’s supply figure was just over 2 by the end of 2016, and it had been 2.0 a year before. Through this February, it declined to 1.7-months, down 4.5% from a year before. DC Condo/Coop Month’s Supply: 2/2016-2/2017
2012 2013 2014 Median
2010 2011 Average
Condominiums and Cooperatives DC new condo/coop contracts came in at 380 units in February – up almost 9% from the previous February. Moreover, new settled sales totaled 288 units, leaping almost 26% from a year before. Condo/Coop Contracts and Settlements 2/16 - 12/17 Single-Family Contracts and and Settlements 2/16 Condo/Coop Contracts Settlements 2/16- -2/17 12/17
District of Columbia Condo/Coop Prices: 2007 - 2/2017 District of Columbia Condo/Coop Prices: 2007 - 2/2017
$575,000 District of Columbia Condo/Coop Prices: 2007 - 2/2017 $575,000 $550,000
$550,000 $525,000 $525,000 $500,000
$500,000 $475,000 $475,000 $450,000
$450,000 $425,000 $425,000 $400,000
$400,000 $375,000 $375,000 $350,000
$350,000 $325,000 $325,000 $300,000
M J J M J J Contracts Contracts
A S O N A S O N Settlements Settlements
In February, there were 492 new listings, up 16.6% from a year before. Also, the total actives inventory was 658 properties, and they were up almost 4% from February 2016.
2011 Average 2011 Average
2013 Median 2013 Median
DC condo/coop prices averaged $539,778 year-to-date in 2017; with the median at $460,000. For all of 2016 they were $497,844 and $449,000 respectively. So far, compared to 2016, the average price has appreciated at a rate of 8.4% and the median rose 2.4%.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 27
By Chris Darby, Tom Muldoon, and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel
QUESTION: I have a Seller (client) where we listed the property to be sold as is. However, the Buyer has an FHA loan which requires inspection and repairs. Upon such inspection, it was discovered that the property has “bedbugs.” Can they terminate the contract because of the bedbugs? ANSWER: There is no unilateral right to void because of bedbugs, but, assuming that you have the FHA financing addendum, the provisions of Paragraph K - Lender required repairs will apply. K. LENDER-REQUIRED REPAIRS: If, as a condition of providing financing under this Contract, Lender requires repairs to be made to the Property that have not otherwise been agreed to be Seller’s responsibility, then the following procedure will be followed: Buyer will Deliver Notice to Seller of Lender’s required repairs
® CAPITAL AREA AREA REALTOR 2014 2017 28 CAPITAL REALTOR•®May/Jun — Mar/Apr
and a request that Seller complete the repairs prior to settlement. Within 5 Days after Delivery of Buyer’s Notice, Seller will Deliver Notice to Buyer as to whether or not Seller will make the repairs. Failure of Seller to Deliver Notice to Buyer within said timeframe shall be deemed an election by Seller to NOT make the repairs. If Seller Delivers Notice to Buyer electing to not make the repairs (or is deemed to have elected to not make the repairs), within 5 days Buyer shall Deliver Notice to Seller as to whether or not Buyer will make the repairs. If neither Seller nor Buyer has Delivered Notice within said timeframe agreeing to make the repairs, then this Contract will become void. As this would be a FHA habitability matter, if the Seller will not have the property properly treated to destroy the bedbugs, the Buyer could not/would not be required to proceed with the purchase.
the legal hotline is a free member benefit offered by GCAAR – Hours: 9 a.m. to 2 p.m. Open Monday through Thursday, excluding holidays
Phone: (202) 686-0100
QUESTION: We had a home inspection contingency but the utilities were not working at the time the inspection was scheduled and now the Seller will not agree to an extension. What can we do? ANSWER: The Inspection Contingency in the GCAAR Addendum of Clauses -- A (GCAAR Form #1332) states that the “Seller will have all utilities in service at the time of inspection(s).” Therefore, under the contingency, the Seller is contractually obligated to have the utilities in service for the inspection to be done. When the Seller does not comply with this obligation the timeframe of the contingency does not commence until the Seller has the utilities in service, therefore a separate extension agreed to by the parties is not required.
QUESTION: I am a licensed broker in Maryland and received a referral from my former employer in Holland. He requested that I pay him a 25% referral fee. May I do so?
QUESTION: In all seminars I attend, everyone says that the bank cannot reduce real estate agency commission. Today I received the short sale approval that substantially reduced the commission. How I will make this bank pay our complete commission?
The exceptions are set forth in Section (b), which provides:
ANSWER: Such a request would violate Fannie Mae’s short sale commission policy and could expose the lender to sanctions if the loan is owned or guaranteed by Fannie Mae (which most are). On February 24, 2009, Fannie Mae sent Announcement 09-03 to its servicers instructing them not to negotiate commissions on short sales below the amount negotiated by the listing agent, unless the commission exceeds six percent. In response to concerns raised by the real estate community that some servicers of Fannie Mae loans are unaware of this policy or believe it is not binding, Fannie Mae has established a process for NAR members when short sale commission issues arise: Step One: Determine whether the loan is owned or guaranteed by Fannie Mae on their website (www.fanniemae.com/loanlookup) or call 1-800-7FANNIE. Step Two: If the servicer is unaware of or disagrees with the policy, provide a copy of Announcement 09-03. (https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0903.pdf) Step Three: Contact Fannie Mae at www.REsource_center@FannieMae.com or at 1-800-7FANNIE.
ANSWER: Since this person is seeking compensation for real estate services, you may not pay a referral fee unless that person is licensed in Maryland or meets one of the recognized exceptions under Maryland Law. Section 17-604 (a) of the Business Occupations and Professions Article of the Maryland Code provides that: (a) In general. -- Except as provided in subsection (b) of this section, a real estate broker, an associate real estate broker, or a real estate salesperson may not pay compensation, in any form, for the provision of real estate brokerage services to any person who is not licensed under this title. (b) Exceptions. -- This section does not prohibit the payment of compensation to: (1) an individual: (i) who is licensed in another state; and (ii) who meets the requirements of § 17-513 of this title;
(2) a professional service corporation formed under § 17-512 of this title; (3) a limited liability company formed under § 17-512 of this title; or (4) a business entity formed under § 17-512 of this title. Furthermore, Section 17-513 provides that: An individual licensed by this State may divide a fee that is earned on a real estate transaction in this State with an individual licensed to provide real estate brokerage services in another state if the other state allows a fee that is earned on a real estate transaction in that state to be divided with an individual licensed by this State. Therefore, unless the person making the referral is: 1) licensed in Maryland; 2) meets one of the exceptions in subsection (b) or elsewhere under Maryland law (such as a Maryland attorney under limited circumstances); or 3) is licensed in another state which would allow a Maryland agent to receive a division of commission under similar circumstances, that person may not be paid a referral fee.
Disclaimer: The answers provided here are the opinions of the authors, are for informational purposes, and are only for GCAAR members. Neither Counselors Title, LLC, nor Pardo & Drazin, LLC is providing legal advice, but rather providing a general statement of law. No lawyer/client relationship is – or will be – established as a result of this material. Readers are encouraged to retain their own counsel for their specific questions. Answers may have been edited for formatting purposes.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 29
2017 EDUCATION SCHEDULE
april April 24, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Thom Brockett Time: 8:00 – 9:30 a.m. April 24, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Stu Reynolds Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor April 24, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Thom Brockett Time: 10:00 a.m. – 1:00 p.m. April 24, 2017 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Stu Reynolds Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor April 24, 2017 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Mary Chieppa Time: 2:00 – 5:00 p.m. April 24, 2017 Maryland Code of Ethics and Predatory Lending CEU; 3 hours MD (required) and DC (elective) Instructor: Mary Chieppa Time: 5:30 – 8:30 p.m. April 25, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 1:30 – 4:30 p.m.
® CAPITAL AREA AREA REALTOR 2014 2017 30 CAPITAL REALTOR•®May/Jun — Mar/Apr
April 26, 2017 Mortgage Basics CEU: 3 hours MD, DC and VA (elective) Instructor: Natalie Winter Time: 9:30 a.m. – 12:30 p.m. April 26, 2017 Understanding the Buyer CEU: 3 hours MD, DC and VA (elective) Instructor: Dana Hollish Hill Time: 1:30 – 4:30 p.m. April 27, 2017 Representing the Seller CEU: 3 hours MD, DC and VA (elective) Instructor: Ned Rich Time: 9:30 a.m. – 12:30 p.m. April 27, 2017 Introduction to Broker Price Opinions CEU: 3 hours MD and DC (elective) Instructor: Stu Reynolds Time: 1:30 – 4:30 p.m. April 28, 2017 Serving the First Time Homebuyer CEU: 3 hours MD, DC and VA (elective) Instructor: Gary Hardy Time: 9:30 a.m. – 12:30 p.m. April 28, 2017 First Time Homebuyer Financing CEU: 1.5 hours MD and DC (elective) Instructor: Brian Willingham Time: 1:30 p.m. – 3:00 p.m.
May 1, 2017 MREC Required Supervision CEU: 3 hours MD (required for brokers) and DC (elective) Instructor: David Politzer Time: 9:30 a.m. – 12:30 p.m. May 1, 2017 Virginia Mandatory Contract Review CEU: 1 hour VA (required) and DC (elective)
Instructor: Andrew DiPaola Time: 11:00 a.m. – 12:00 p.m. * NAR Building/3rd Floor May 1, 2017 Virginia Ethics CEU: 3 hours VA (required) and DC (elective) Instructor: Andrew DiPaola Time: 1:30 – 4:30 p.m. * NAR Building/3rd Floor May 2, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: Tom Biegler Time: 1:30 – 4:30 p.m. May 3, 2017 Risk Reduction for the Buyer Agent CEU: 3 hours MD (elective) Instructor: Ned Rich Time: 9:30 a.m. – 12:30 p.m. May 4, 2017 Listing Presentation CEU: 3 hours MD, DC and VA (elective) Instructor: Thom Brockett Time: 9:30 a.m. – 12:30 p.m. May 4, 2017 Maryland Property Conditions Disclosure CEU: 3 hours MD and DC (elective) Instructor: Thom Brockett Time: 1:30 – 4:30 p.m. May 5, 2017 Foreclosures CEU: 3 hours MD and DC (elective) Instructor: Robert Moses Time: 9:30 a.m. – 12:30 p.m. May 5, 2017 GCAAR @ NVAR: 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Maria Deligiorgis, Esq. Time: 9:30 a.m. – 12:30 p.m. * NVAR - Fairfax
May 8, 2017 Virginia Fair Housing CEU: 2 hours VA (required) and DC (elective) Instructor: Andrew DiPaola Time: 10:00 a.m. – 12:00 p.m. * NAR Building/3rd Floor May 8, 2017 Virginia Mandatory Agency CEU: 1 hour VA (required) and DC (elective) Instructor: Andrew DiPaola Time: 1:00 – 2:00 p.m. * NAR Building/3rd Floor
May 8, 2017 Virginia Legal Update CEU: 1 hour VA (required) and DC (elective) Instructor: Andrew DiPaola Time: 3:00 – 4:00 p.m. * NAR Building/3rd Floor
May 10, 2017 1031 Exchanges and Update CEU: 1.5 hours MD and DC (elective) and 1 hour VA (elective) Instructor: William Horan Time: 9:30 – 11:00 a.m. May 10, 2017 Advising Foreign Real Estate Clients CEU: 2 hours MD, DC and VA (elective) Instructor: Jacqueline Talpa Time: 2:30 – 4:30 p.m. May 11, 2017 New Member Orientation CEU: No CE Instructor: Jacqueline Talpa Time: 10:30 a.m. – 4:00 p.m. May 11, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Jill Pogach Michaels Time: 1:00 – 4:00 p.m. May 11, 2017 Short Sales CEU: 3 hours MD and DC (elective) Instructor: Jill Pogach Michaels Time: 5:00 – 8:00 p.m.
NOTE: All classes are held at GCAAR’s Rockville office unless otherwise noted.
May 12, 2017 Maryland Legal & Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m.
May 17, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: Chanin Wisler Time: 1:30 – 4:30 p.m.
May 12, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 1:30 – 3:00 p.m.
May 18, 2017 Basics of Government Lending Programs CEU: 3 hours MD, DC and VA (elective) Instructor: Tom Biegler Time: 9:30 a.m. – 12:30 p.m.
May 15, 2017 MREC Agency – Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Ned Rich Time: 9:30 a.m. – 12:30 p.m.
May 19, 2017 Negotiating the Best Contract CEU: 3 hours MD, DC and VA (elective) Instructor: Valerie Huffman Time: 9:30 a.m. – 12:30 p.m.
May 15, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Jacqueline Talpa Time: 10:30 a.m. – 12:00 p.m. * NAR Building/3rd Floor
May 19, 2017 Credit Reporting and Scoring CEU: 2 hours MD and DC (elective) Instructor: Michael McNamara Time: 1:30 – 3:30 p.m.
May 15, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Jacqueline Talpa Time: 1:30 – 4:30 p.m. * NAR Building/3rd Floor May 16, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Tara Houston Time: 1:30 – 4:30 p.m. May 16, 2017 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: Maria Deligiorgis, Esq. Time: 1:30 – 4:30 p.m. * NAR Building/3rd Floor May 17, 2017 203K CEU: 3 hours MD, DC and VA (elective) Instructor: Scott Shelton Time: 9:30 a.m. – 12:30 p.m.
May 22, 2017 Virginia Broker Management and Agent Supervision CEU: 8 hours VA (required for brokers; elective for agents) and DC (elective) Instructor: Thom Brockett Time: 9:00 a.m. – 5:00 p.m. May 22, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Counselors Title Time: 9:30 a.m. – 12:30 p.m. May 22, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: James Semeyn Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor May 22, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Counselors Title Time: 1:30 – 4:30 p.m. May 22, 2017 VA Financing CEU: 3 hours MD and DC
2017 EDUCATION SCHEDULE (elective) Instructor: James Semeyn Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor May 23, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: Scott Story Time: 9:30 a.m. – 12:30 p.m. May 23, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Maria Deligiorgis, Esq. Time: 1:30 – 3:00 p.m. May 23, 2017 New Member Orientation CEU: No CE Instructor: Sandra Stewart Time: 4:00 – 9:00 p.m. May 23, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Jill Pogach Michaels Time: 6:00 – 9:00 p.m. May 24, 2017 Breaking the Ceiling CEU: No CE Instructor: Tara Houston Time: 9:00 – 11:00 a.m. May 24, 2017 Broker Manager Forum: 7 Financial Habits of Highly Successful Real Estate Professionals CEU: No CE Instructor: Lori Day Time: 12:00 – 2:00 p.m. May 24, 2017 Mental Toughness for REALTORS® CEU: No CE Instructor: Eric Rittmeyer Time: 3:00 – 5:00 p.m. May 25, 2017 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and
DC (elective) Instructor: Carole Maclure Time: 9:30 a.m. – 12:30 p.m. May 25, 2017 Comparison Between GCAAR and MAR Contracts CEU: 1.5 hours MD and DC (elective) Instructor: Deirdre Brown, Esq. Time: 1:30 – 3:00 p.m. May 31, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Carole Maclure Time: 9:30 a.m. – 12:30 p.m.
June 1, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 9:30 a.m. – 12:30 p.m. June 1, 2017 New Member Orientation CEU: No CE Instructor: Ned Rich Time: 10:30 a.m. – 4:00 p.m. * NAR Building/2nd Floor June 1, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Ned Rich Time: 1:00 – 4:00 p.m. * NAR Building/2nd Floor
June 1, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 1:30 – 4:30 p.m. June 1, 2017 DC Law Prep Course CEU: No CE Instructor: Mary Chieppa Time: 5:00 – 8:00 p.m.
Continued on page 32
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 31
2017 GCAAR Broker/Manager Forums –
2017 EDUCATION SCHEDULE
june June 2, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: James Semeyn Time: 9:30 a.m. – 12:30 p.m. June 2, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Jessica Chipoco Time: 1:30 – 3:00 p.m. June 5, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Ned Rich Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor June 5, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Andrew DiPaola Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor June 6, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD and VA (elective) Instructor: Shawn Barsness Time: 1:30 – 4:30 p.m.
June 7, 2017 Broker Manager Forum: The Most Common Complaints Received by the Real Estate Commission CEU: No CE Instructor: Kathie Connelly and Leon Lewis Time: 12:00 – 2:00 p.m. June 8, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Tara Houston Time: 10:00 a.m. – 1:00 p.m. June 8, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Tara Houston Time: 2:00 – 3:30 p.m June 9, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 9:30 a.m. – 12:30 p.m.
June 9, 2017 GCAAR @ NVAR: MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Harry Yazbek Time: 9:30 a.m. – 12:30 p.m. * NVAR - Fairfax June 9, 2017 Material vs. Confidential Facts CEU: 1.5 hours MD and DC (elective) and 1 hour VA (elective) Instructor: Al Monshower Time: 1:30 – 3:00 p.m.
SAVE THE DATES! May 24 7 Financial Habits of Highly Successful Real Estate Professionals Lori Day
June 7 The Most Common Complaints Received by the Real Estate Commission Kathy Connelly Maryland Real Estate Commission Leon Lewis, District of Columbia Real Estate Commission
September 20 GCAAR and MAR Contract Forms Update Susann Haskins
October 18 Regional Economic Outlook and Area Housing Market Conditions
NOTE: All classes are held at GCAAR’s Rockville office unless
Designed for brokers and office managers, Broker/Manager Forums are held throughout the year and feature topics on timely issues to help you manage your office more efficiently.
It’s my name on the door; people count on me. When it comes to taxes and finances, I need to find
All of these sessions are held from 12:00 until 2:00 p.m. at GCAAR’s Rockville office. You must be a Broker, Associate Broker, or Office Manager to attend.
someone who cares as much about my business as I do.
A CPA spends years preparing for moments just like these.
Visit www.gcaar.com to learn more and register for these FREE programs.
For tax & financial advice based on unmatched knowledge, experience & education, ask a CPA Graduated from college, often with 150 semester hours and a Master’s in Finance or Accounting • Passed the demanding
The events are free, but advance registration is required.
CPA exam • Licensed by a state to practice • Dedicated to
Visit 360taxes.org for more information. ®
CAPITAL AREA REALTOR • May/Jun 2014
Copyright © 2014 American Institute of CPAs. All rights reserved.
CPA ethical standards • Committed to 120 hours of continuing professional education every three years
Lunch is provided. 32 CAPITAL AREA REALTOR ® — Mar/Apr 2017
GCAAR in the news DC Median Price of Homes Sold in January +4.6% to Record High of $527,500 CNBC’s Diana Olick via Twitter (@GCAARNow) February 10, 2017 – GCAAR’s housing stats referenced County County President Roger Berliner Headlines GCAAR Speaker Series (Video) February 9, 2017 “Let me say this to begin with,” said Berliner to the REALTORS®. “None of us are seeking to raise taxes in this budget year.” – Roger Berliner Montgomery County Council President
Since 1990 the Preferred Qualified Intermediary for 1031 Exchanges!
Your Preferred Local Qualified Intermediary for 1031 Exchanges Contact us for free consultations & information Bill Horan, CES® email@example.com
Certified Exchange Specialist®
7400 Heritage Village Plaza #102 Gainesville, VA 20155 800-795-0769 www.1031.us
Get Up to $40,000 to Secure Your Future in Montgomery County The Montgomery Homeownership Program, an initiative of the Maryland Mortgage Program in partnership with Montgomery County, gives eligible homebuyers purchasing in Montgomery County up to $40,000 in down payment assistance. This financial incentive is provided by Montgomery County to help working families and first time home buyers achieve affordable homeownership in the County. For more information, go to: www.mmp.maryland.gov/Montgomery/Pages/default. aspx
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Mar/Apr 2017 33
Covideo gives you instant video capability in a world where no one reads but everyone looks.
J a k e R y on Fi r st H o m e Mortgage
TECHNOLOGY CHANGES AT A RAPID PACE AND THAT’S CERTAINLY THE CASE IN REAL ESTATE. WE ASKED GCAAR’S YPN COMMITTEE WHAT’S HOT IN THE TECH SPACE RIGHT NOW.
The Homesnap and Sentrilock mobile apps allow me to get listing info and show properties with my phone and streamline the process.
H a r r is on B e acher Ke l l e r Wi l l i a ms C a p i ta l Pr o p e rties 34 CAPITAL AREA REALTOR ® — Mar/Apr 2017
SE NT R I S M ART ™ MO B I L E The SentriSmart™ mobile app lets you open lockboxes with your smartphone or tablet, with instant showing notification and access to other lockbox tools. Price: Included in the lockbox subscription. http://lb.sentrilock.com/lbs/index/
R EA LTOR PROPE RTY R ESO U RCE ® (RPR®) MOBILE The RPR app combines all the search features of the desktop RPR with smartphone tools—GPS, camera, text messaging, and voice recording. When you log into RPR Mobile on your smartphone, the app can find your location via GPS, so data on nearby properties is queued up and ready to view without having to search.
COVIDE O Lets you send videos instantly through your phone or computer. Price: Free 10-day trial; tiered pricing beginning at $49 monthly depending on the package. http://www.covideo.com/
Price: No cost. It’s a member benefit included when a member pays their NAR dues. https://www.narrpr.com/
HO M ES N AP Homesnap lets you snap a photo of any home to find out all about it. With Homesnap Pro, the professional version of Homesnap, agents can get listing info, MLS data, property tax records, census data, geographic boundaries, and more, as well as consumer-friendly details like interior features and local school ratings. Price: Included in the MRIS subscription. https://www.homesnap.com/
MR I S CLOS E IT! MRIS Close It! is a new core product included in the MRIS subscription that allows real estate professionals to provide quick and concise closing cost disclosure estimates to home buyers and sellers with little to no effort. MRIS Close It! is an online closing cost calculator made by highly experienced settlement attorneys that is accessible to MRIS customers via desktop, laptop, and mobile devices. Price: Included in the MRIS subscription. http://www.mris.com/#/home
KE Y. M E Key.me is a key duplicating app where you can take a picture of a key with an app, then either pick it up from a nearby kiosk or they’ll mail it to you. I love it because it saves my clients a trip to duplicate keys and also demonstrates you are tech savvy. Price: Starts at $2.99 they even do car transponder keys! www.key.me
MAGI CPLAN An app where you can create floor plans with your mobile device. By using your phone/ tablet’s camera, the app is able to draw floor plans for you, then you can later add objects/ annotations to complete them. Price: It’s free to try, with plans from $9.99 to $19.99 per month. http://sensopia.com/
Calendly helps you schedule meetings without the back-and-forth emails. Share your Calendly links via email or embed it on your website. Clients pick a time and the event is added to your calendar. Works with your Google, Outlook, Office 365 or iCloud calendar so you’re never double booked. Price: There is a 14-day free trial period. Plans start at $8 per month. https://calendly.com/
FOLIO Folio is a Chrome extension for Gmail that automatically organizes your transactions and helps keep everyone on track. Each transaction in Folio has its own timeline that you can share with clients. Folio automatically places emails into Smart Folders for each one of your transactions and helps you to find important documents and contacts for each transaction. Price: Folio is free to use, but only available for Gmail and Chrome users. https://www.amitree.com/folio CAPITAL AREA REALTOR ® — Mar/Apr 2017 35
AFFILIATES Agent Services
Beta Solutions F&BC Kevin Matthews 301-787-0782 Homesnap Stephanie Rall
Home Staging by Vivian Vivian Gilbert 301-802-5166
Anne M. Powell Appraisals Anne Powell 410-721-7505 Brett Bessell Brett Bessell
Chase Commercial Appraisal Division Chad Harris 202-312-1160 Carlos Ortiz 202-312-1160 Anna Pagi 202-312-1160 Foremost Appraisals & Realty Folusho Bello 240-304-7782 J.D. Egly & Associates John Egly 301-349-0113 J. Hansen Appraisal Assocs. LLC John Hansen 301-464-2878 James Blaine Miller Jr. James Miller Jr. 301-933-9881 Magee Appraisal Service Diana Magee 301-846-9696 Roxann Novel Appraiser Roxann Novel 800-232-7196 Washington Appraisal Frank John Jr. 202-646-1150
Adams, Morris & Sessing Michelle Adams 301-637-0143 Elizabeth Morris 301-637-0143 Timothy Sessing 301-637-0143 Andrew FitzGerald Attorney at Law Andrew FitzGerald 301-933-6550 Bregman Berbert Schwartz Gilday LLC Wendy Pullano 301-656-2707 Bromberg Rosenthal LLP Jonathan Bromberg 301-251-6200 Glazer Winston Honigman Ellick L. Mark Winston 202-537-5500 Greenstein DeLorme & Luchs PC Richard Luchs 202-452-1400 Vincent Mark Policy 202-452-1400 36 CAPITAL AREA REALTOR ® — Mar/Apr 2017
Jackson & Campbell PC Roy Kaufmann 202-457-6710 Jacobs & Associates Harvey Jacobs 301-300-6252 Kase & Associates Sadaf Saberi 703-444-4100 Kass Mitek & Kass PLLC Benny Kass 202-659-6500 KVS Law David Kanstoroom 301-605-1420 Lisa Lamphier 301-605-1420 Marty Stanton 301-605-1420 Lasso & Lasso PC Ricardo Lasso
Capital Area REALTORS® FCU Tony Launi 240-314-0734 Olympia Overton 240-314-0734
Home Improvement Floormax Rafie Ansari Darren Holder Masoud Molayem
301-206-2200 301-206-2200 301-206-2200
Home Inspection Companies Alban Home Inspection Svcs. Sandra Watkins 301-662-6565 Anderson Inspection Consultants Inc. Gary Anderson 301-855-3337
AnnieMac Home Mortgage John White, Jr. 866-312-6682 Apex Home Loan Erin Finke 301-610-9600 Michael Parsons 301-610-9600 Brian Willingham 301-610-9600 BB&T Patricia Widerman Mike Kidwell Kari Sansom Daniel Shea
301-493-8917 301-590-2382 301-493-8917 301-493-8917
Caliber Home Loans Charles Clapper 301-660-3292 Robert Kirchner 301-660-3292 Patrick Norfolk 301-660-3292 Matthew O’Connor 301-660-3292 Kenneth Storck 301-660-3292
Law Office of Arthur Konopka Arthur Konopka 202-686-0600
Building Inspector of America Vimal Kapoor 301-916-0300
Law Office of Mark A. Bayer Mark Bayer 202-466-4747
Capital Environmental Testing Bryan Hix 202-257-9291
Capital One Gerald D’Ascoli Brian Glou Anthony Toy
Law Offices of David P. Modell David P Modell 301-634-9820
Green Home Solutions of MD Jennifer Sherwood 301-591-2470
Corridor Mortgage Group Inc. Sara Lenes 301-443-5749
Law Offices of Michael Frissel/Wolf Title Michael Frissell 301-951-0940
The Greentree Group Julio Gonzalez Del Solar 301-960-1341
EagleBank Corp. Thomas Biegler Deborah Levy
Lynn Candle Boynton Esq. Lynn Boynton 240-499-7465
Home Land Septic Consulting Eric Garrett 443-995-5385 Tim Shotzberger 443-995-5385
Miles & Stockbridge PC Casey Cirner 301-762-1600
Mid-Atlantic Inspection Srvcs. Alan Beal 202-607-4153
Paley Rothman Katherine Palumbo 301-951-9362
Old Republic Home Protection Terry Crawford 925-866-1500
Richard W. Lawlor PA Richard Lawlor 301-340-2400
Pearl Certification Cynthia Adams 888-557-5543
Samuelson Law Offices LLC Kenneth Samuelson 202-494-0848
RA Home Inspection Randolph Gallegos 240-793-4611
Shaner & Helf LLC Thomas Helf 301-913-9306
Top to Bottom Services Gregory Butler 301-938-9100 Daniel Deist 301-938-9100
Shulman Rogers Gandal Pordy Matthew Alegi 301-230-5200 Amy Klein 301-230-5200 Marc Lipman 301-230-5200 James Savitz 301-230-5200 Law Offices of Jill Pogach Michaels Owen Jarvis 240-425-0008 Jill Michaels 240-425-0008 Ben Silver 240-425-0008 The Sacks Law Firm PLLC Michael Sacks 301-948-2300 Vaughn W. Royal Attorney at Law Vaughn Royal 202-895-1530
Housing Interests JCAMS Jimmy Cullum
248-728-0288 248-728-0288 248-728-0288
Embrace Home Loans William Rozek 301-921-0070 Tina Del Casale 800-333-3004 Fidelis Mortgage Eric Rittmeyer 410-668-6501 First Home Mortgage Ingrid Rapavy 703-938-2115 Meghan McDonald 703-840-4202 Nicolas Matsangakis 301-657-1003 David Toaff 301-657-1003 Ryan Angier 301-656-4388 Zachary Bodine 301-656-4388 Hillary Cochin 301-656-4388 Scott Story 301-656-4388 Kevin Walsh 301-656-4388 Timothy Whittier 301-656-4388 Alexander Jaffe 240-479-7658 Christopher Jordan 301-562-9540 Travis Vollmerhausen 301-562-9540 Jacob Ryan 301-220-0999
MD Dept of Housing & Community Development Cecilia Weller 410-514-7014
First Savings Mortgage Deborah Benkert 240-223-1558 Graham Pruitt 240-223-1558 J. D. Teitelman 703-564-1746
First Washington Mortgage Chanin Wisler 301-526-0020
Moneycorp Spencer Holmes
GCAAR brings you a complete listing of our Affiliates in every issue
If you are interested in becoming a GCAAR Affiliate or have a correction to this list, please contact us at: firstname.lastname@example.org
AFFILIATES Mortgage Companies
FitzGerald Financial Group/Division of TowneBank Mortgage Evelyn Miller 240-403-1868 L. William Woods Jr. 240-403-1868
123 Junk Kevin Wheeler
Flagstar Bank Eddie Jackson
Perry Moving & Storage Alvin Lewis 410-799-0022
George Mason Mortgage Shawn Barsness 703-595-2233 Home Savings & Trust Mortgage Derek Harman 703-766-4634 Intercoastal Mortgage Co. Alexander Norcini 571-298-8166 Law Offices of Quinn O’Connell Jr Quinn O’Connell Jr. 202-537-1820 McLean Mortgage Corp. Alex Peters 301-538-1137 MVB Mortgage Chris Kearney Billy Kinberg Robert Ross
202-751-2146 202-751-2146 202-751-2146
Prospect Mortgage Cedric Johnson 540-882-4176 Prosperity Home Mortgage Romy Espino 301-838-3172 Brian Haug 301-838-3172 Tom O’Keefe 301-838-3172 Sandy Spring Bank Jeffrey Nelson 301-617-4233 Guy Silas 301-617-4233 Stearns Lending Jamica Browne Gary Gertler Lee Michaels
240-599-7900 240-599-7900 240-599-7900
SunTrust Mortgage Loretta Clark 301-961-0903 Jordan Giles 301-961-0903 C.J. Kemp 301-961-0903 Russell Rothstein 301-961-0903 Tidewater Mortgage Services Jessica Sandler 571-297-3981 Max Sandler 571-297-3981 TowneBank Mortgage Richard Harbin 301-850-1092 Wells Fargo Home Mortgage Pat Bowman 301-956-1573 Patricia Gillis 301-956-1573 Paul Nowacek 301-956-1573 Wells Fargo Private Mortgage James Semeyn 410-573-6411
J K Moving & Storage Drew Richards 703-250-4282
Pest Control Companies
Capitol Termite & Pest Control Stanley Robinson 301-657-4480 Brian Schoonmaker 301-657-4480
Property Management Companies Columbia Property Management Scott Bloom 888-857-6594 Transwestern Donald Wilson
Real Estate Investment Rent the District Hanna E McClain
Tax Consultants Exchange Solutions Group William Gessner 703-787-3893 Tax-Masters Linda de Marlor 301-230-0200
Title Insurance/Settlement Companies Atlantic Closing & Escrow Isadora Connor 202-730-2635 Tommy Craddock 202-730-2635 Diana Khan 202-730-2635 Avenue Settlement Corporation Stephen Ballard 202-296-4500 Avenue Title Group David Helfrich 202-296-4500 Blue Note Title Jessica Chipoco
Capitol Title Insurance Agency Lisa Bosse 301-231-7250 Sara Demb Goldstein 301-231-7250 Stanley Goldstein 301-231-7250 William Splitgerber Jr. 301-231-7250 Classic Settlements Joe Detrick 301-921-2667 Jonathan Levy 301-921-2667 Mary Papagjika 301-921-2667 Elliot Liss 301-921-2667 Confidence Title & Escrow Vittorio Muzzatti 301-740-1880
Title Insurance/Settlement Companies Counselors Title LLC Christopher Darby 202-686-0100 Marie Enderle 202-686-0100 James Griffin 202-686-0100 Thomas Muldoon 202-686-0100 Timothy Mullin 202-686-0100 John Nalls 202-686-0100 Noreen Hathaway 202-686-0100 Robert Kuczarski 202-686-0100 Colleen Smyth Cogan 202-686-0100 District Title A Corp. Steven Sushner 202-518-9300 Federal Title & Escrow Co. Todd Ewing 202-362-1500
Title Insurance/Settlement Companies Pinnacle Settlement Services Scott Goldschein 866-441-4666 Pinnacle Title & Escrow David Maged 301-424-5400 Marci Maged 301-424-5400 Bari Solomon 301-424-5400 Pride Settlement & Escrow LLC Jay Brody 888-729-0145 D. Leigh Hewartson 888-729-0145 Lee Anne Rodriguez 888-729-0145 RGS Title Suzanne Feinstein Esq. 301-230-0070 Thomas R Rodden 301-680-0200 Helen Dankos 301-230-0070
Fenton Title Co. Louis Pettey
First Class Title Daniel Kotz
RGS Title/Tradition Title Anthony DeVol 301-654-9800
Flynn Title Gregory Flynn
Moses & Aiken, LLC/Home Title Robert Moses 301-468-0080
GPN Title John Gilbert George Glekas
Hutton Patt Title John Hutton
Key Title Bridget Fancher
Logan Title Patrick Tangney
Main Street Settlements Inc. John Ferguson 301-570-3600
Sage Title Group LLC Bobby Lee 301-654-2560 Joseph Hansen 301-670-2812 Settlement Ink P. Joy Siegel
Settlement Professionals LLC Carol Calomiris 202-363-1870 Settlement Corp. David Deckelbaum
Standard Title Group Kevin Anderson 202-888-0132
MBH Settlement Group Jill Messier 703-277-6800
Stewart Title Group R. Bradley Runyan 202-349-0220 Christopher Saabye 202-349-0220
Michaels Title & Escrow LLC Jill Pogach Michaels 240-425-0008
Title Alliance Ltd. Maria Deligiorgis
Mid-Atlantic Settlement Services Deirdre Brown 410-252-1208
Title Town Settlements Todd Greenbaum 301-580-2850
Monarch Title Katherine Brewer
Village Settlements David Hahn 301-486-0799 Carey Brennan 301-590-9300 Leslie Childs 301-590-9300 Michael Hollman 301-590-9300
New World Title & Escrow Andrew DiPaola 703-691-4330 Morgan Swersey 703-691-4330
Palisades Title Company Steven Buckman 202-351-6100 Paragon Title & Escrow Co. Philip Raskin 301-986-1114 Randy Rothstein 301-986-1114 Rob Rothstein 301-986-1114
As of March 30, 2017
CAPITAL AREA REALTOR ® — Mar/Apr 2017 37
New Rockville Location! 100% Commission Split $49/month www.TaylorProperties.co/join (800) 590-0925 * Commission paid to you same day as settlement * Set your own commission rates * $300 settlement gift for your Buyers * In-House lender and title company * Seminars by industry leaders * Training/mentoring programs * Homebuyer lead program * Full Broker service * Free business cards Agent appreciation dinner every * Recruiting Bonuses 2 months with drinks and giveaways!
We will beat any other Broker’s Commission Plan in Maryland, DC and Virginia! Referral Company Option - 85% Commission/No Fees
Offices in Annapolis, Silver Spring, Largo and Waldorf 44 CAPITAL AREA REALTOR ® — Jan/Feb 2017
85% Commission Split No monthly fee
Stay connected at www.gcaar.com
New Member Orientation What was the most important thing you learned in your New Member Orientation class? “I’m new to GCAAR but not new to real estate. The New Member class gave me new information and ideas on how to be more successful. I would suggest you take this class whether you are new to real estate or just want to network with other agents. A special shout-out goes to the staff that has made my transition to GCAAR seamless.”
Cary (CJ) Johnson, Long & Foster Capitol Hill
Welcome to the Greater Capital Area Association of REALTORS®. We are pleased that you have chosen to join our organization. GCAAR is your voice for real estate issues in DC and Montgomery County, MD. It offers venues for networking and allows you to connect with your peers and exchange best practices. We invite you to take full advantage of your benefits as a member.
JANUARY Olalekan Akinkuowo Keller Williams Capital Properties Nadia Aminov Long & Foster Real Estate Leslie Anderson Greater Capital Area RESA Shawn Barsness George Mason Mortgage Jonathan Bartlett Greenline Real Estate Sequonta Beasley Coldwell Banker Residential Kimberly Bloomer Coldwell Banker Residential Robert Borchardt Washington Fine Properties Susan Bourassa Greater Capital Area RESA Victor Brown Washingtopia Real Estate Matthew Buerger RE/MAX Allegiance
Dan Chacko RE/MAX Realty Services
Sarah Iliff CityWorth Properties Alexander Jaffe First Home Mortgage
Kera Cherrey Greater Capital Area RESA
KeithJames Keller Williams Capital Properties
Ester DiGiovanni Long & Foster Real Estate Patrick Doherty Weichert REALTORS®
ArmanKhastou Metropolitan Fine Properties Rebecca Low Compass
Christopher Ducey Long & Foster Real Estate
Edward Lui Mars Hill Realty Group
Rita Frank Coldwell Banker Residential
Lee Michaels Stearns Lending
Galya Gamliel Long & Foster Real Estate
JeffreyMills Fathom Realty
John Gilbert GPN Title
Danielle Nelson Long & Foster Real Estate
Rita Hardy Metropolitan Properties
Olufemi Padonu TriStar Realty
Ofelya Hartonyan Allison James Estates & Homes
Charles Patton RE/MAX Enterprise
Cecilia Caro Certified Realty Group
Lothlorien Redmond Keller Williams Capital Properties Ramana Sarikonda Berkshire Hathaway Home Services PenFed Realty Gary Schlager Rock Creek Property Group Illia Schwarz Compass Stephanie Smith Select Premium Properties Duawne Starling Keller Williams Realty Centre David Steinberg TriStar Realty Lledon Stokes Keller Williams Capital Properties Terence Thomas Coldwell Banker Residential Sarah Vassiliou W C & A N Miller REALTORS® Adrian Warner Douglas Realty CAPITAL AREA REALTOR ® — Mar/Apr 2017 39
Jordan Chronopoulos MAGICA Realty
Ayesha Khan Keller Williams Realty Centre
Mary Jane Obichere Luxmanor Real Estate
Hillary Cochin First Home Mortgage
Esther Konrad Century 21 New Millennium
Hugo Ortiz Allison James Estates & Homes
Ashley Ademiluyi Keller Williams Capital Properties
David Coy Firm Foundation Realty
Moshe Landman Long & Foster Real Estate
Brian Ortiz Urban Land Company
Jennifer Ambrose RE/MAX Metropolitan Realty
Brendan Donnelly Keller Williams Capital Properties
Erik LaPaglia John C. Formant Real Estate
Rhonda Paige Long & Foster Real Estate
Kwabena Apenteng Coldwell Banker Residential
Jason Douglas-Jones Particular Properties
Karl Lataillade Coldwell Banker Residential
Emily Palmieri W C & A N Miller REALTORS®
Jude Awuba Certified Realty Group
Frank Evans Fairfax Realty
Zachary LaVeck Keller Williams Realty Centre
Brijesh Patel Prestige Realty
Yosef Ayalew Long & Foster Real Estate
Maria Forman Long & Foster Real Estate
Jonathan Liggie Brownwoods REALTORS®
Amy Peterson Long & Foster Real Estate
Rachel Bartolo Compass
Jason Garcia Keller Williams Capital Properties
Meredith Martin-Merritt Long & Foster Real Estate
Graham Pruitt First Savings Mortgage
Broderick Battle Keller Williams Realty Centre
Dinkinesh Getachew Greenline Real Estate
John McAuliffe Keller Williams Capital Properties
Hamid Rajabian Chase Properties
Andye Belcher CityWorth Properties
Melissa McNulty Branches Realty Rosa Mendoza Long & Foster Real Estate
Ingrid Rapavy First Home Mortgage
Zachary Beus Compass
Mary Gleason Long & Foster Real Estate Brian Glou Capital One
Marshall Blackston Exit Deluxe Realty
Ashley Gordon CityWorth Properties
Phillip Metcalf Fairfax Realty
Umran Reed United Real Estate Great Falls
Colby Bone Capital Park Realty
Kevin Green Keller Williams Capital Properties
Elisa Monzon-Caballero RE/MAX 2000 REALTORS®
Victoria Roberts Weichert REALTORS®
Thi Thuy Ni Bose Spicer Real Estate
Amber Harris Keller Williams Capital Properties
Michael Morin Coldwell Banker Residential
Camille Robinson Central Properties
William Brooks Keller Williams Capital Properties
Seid Muhie Fairfax Realty
Carl Rutan Long & Foster Real Estate
Catherine Brown Keller Williams Capital Properties
Laura Hartley Long & Foster Real Estate Saliya Herath Weichert REALTORS®
Alejandro Salas Vasquez Weichert REALTORS®
Janean Buchner Trump International Realty
Shanika Hopson Keller Williams Capital Properties
Marius Muhung Berkshire Hathaway HomeServices PenFed
Samuel Caballero Vasquez Weichert REALTORS®
Iris Houston Keller Williams Capital Properties
Diana Carrasco Carr REALTORS®
Ugonna Ibebuchi Redfin Jacob Jones RE/MAX Fine Living
Michael Willoughby Willoughby Real Estate
Joselin Castro-Lopez Berkshire Hathaway HomeServices PenFed Realty David Cho KO-AM Realty & Investment
40 CAPITAL AREA REALTOR ® — Mar/Apr 2017
Isatu Kargbo Coldwell Banker Residential
Timothy Mull Taylor Properties Matthew Na Keller Williams Capital Properties Lealem Nega Fairfax Realty Chigomezyo Ngwira Exit Flagship Realty Althea Nimmons Sourceone Realty
Katsiaryna Reddy Maharzada REALTORS®
Graciela Serat Coldwell Banker Residential Chirag Shah Hagan Realty Gautam Shah Long & Foster Real Estate Mostafa Shahmohammadi Korte Realty Shi Shu Libra Realty
Aurash Azimi Ghomi Coldwell Banker Residential
Clare Palace Coldwell Banker Residential
Kevin Barrow Taylor Properties
Nelda Harris W C & A N Miller REALTORS® Angela Henderson Keller Williams Capital Properties
Herbert Bonnette TriStar Realty
Eddie Jackson Flagstar Bank
Anne Peronne Long & Foster Real Estate
Travell Bowie Keller Williams Capital Properties
Fisseha Kebede Coldwell Banker Residential
Maria Prokopyeva Fairfax Realty
Min Byun CityWorth Properties
Chandler Kennell Roberts Real Estate
Jianan Qi Signature Home Realty
Robert Calongne Keller Williams Capital Properties
Urian Kim Compass
Maria Sabatini Coldwell Banker Residential
Christopher Cummings Senate Real Estate Services
Jin Kim Keller Williams Capital Properties
Raul Salmeron Hernande Fairfax Realty
Matthew Cummings The Mayhood Company
Boris Kuiper Smartmax Realty
Gabriella Sciacca Keller Williams Capital Properties
Laura Damon Coldwell Banker Residential
Lauren Kuiper Smartmax Realty
Michael Sheridan Real Living at Home
Marcus Dillon Long & Foster Real Estate
Maruf Lasker Independent Realty
Diego Sito Compass
Patrick Dotson Fairfax Realty
Eugene Libman Long & Foster Real Estate
Barrett Starling Keller Williams Realty McLean
Robert Dougherty Keller Williams Capital Properties
Fang Lin Versant Realty
Kenneth Sypal Versant Realty
Marques Dyer Show Business Realty
Jiali Luo Independent Realty
Kimberly Thackston Coldwell Banker Residential
Futsum Estephanos Long & Foster Real Estate
Trung Ly Golden Gate Realty Corp.
John Thompson Carrington Real Estate Services
Courtney Evans Compass
Brenda Mejia Long & Foster Real Estate
Eleanor Todd Redfin
John Fan Libra Realty
Yemesrach Mengistu-Gunn Coldwell Banker Residential
Abe Turay Diplomat Realty 2000+
Bridget Fancher Key Title
Fernando Miranda Long & Foster Real Estate
Linda Wang Hometown Elite Realty
Danielle Fountaine TriStar Realty
Gary Mizrachi Keller Williams Capital Properties
Jessica Wills Evers & Co. Real Estate
Aryan Frizhandi Long & Foster Real Estate
Anita Mutumba Exit Flagship Realty
Jun Yu Union Plus Realty
Nikita Adolphus Keller Williams Capital Properties
Christian Funicelli Keller Williams Capital Properties
Patrick Norfolk Caliber Home Loans
Hongyan Yuan BMI
Ara Arabian Long & Foster Real Estate Noel Awendo Long & Foster Real Estate
Fiory Haile Keller Williams Fairfax Gateway
Matthew O’Connor Caliber Home Loans
Charise Harper Senate Real Estate Services
Richard Owusu-Ansah Coldwell Banker Residential
Bruce Studevent RE/MAX Professionals
David Sullivan Coldwell Banker Residential Kaleigh Sullivan Keller Williams Capital Properties Lailanie Symonette Long & Foster Real Estate Willie Thomas Long & Foster Real Estate Anthony Toy Capital One Dubravka Trakic Keller Williams Capital Properties Marissa Vivar Keller Williams Capital Properties John Wagstaff Coldwell Banker Residential Nicole Waheed Brodie Realty Group Kyle Ward Dahl Douglas Realty Gary Waters Long & Foster Real Estate Terkeisha Williams Equilibrium Realty Cary Williams Keller Williams Capital Properties Phoenix Wright Compass Hang Yang Northcrest Realty Lalitha Yedavalli Long & Foster Real Estate MARCH Lawrence Adams eXp Realty
Christopher Parmelee Keller Williams Capital Properties
*As of March 16, 2017
CAPITAL AREA REALTOR ® — Mar/Apr 2017 41
design trends FOR THE KITCHEN
IDEAS THAT WILL HELP GET YOUR KITCHEN LOOKING ITS BEST
Galley Kitchen To keep this small galley kitchen looking as great as it works, Natalia Pierce, AKBD, chose a neutral, earthy palette and installed a comfortable window seat. The flow of light from the adjacent dining room through the pass-through keeps the kitchen connected to the rest of the home and puts hosts in touch with dinner guests. Photo by Natalia Pierce
Photo courtesy of IKEA
Classic Black and White The look may change as styles evolve, but the appeal of a black-and-white kitchen never dies. It’s all about high contrast — this design from IKEA juxtaposes white lacquer cabinets (from IKEA’s LIDINGÖ line) and Absolute Black granite countertops, but it also benefits from the tension between country and modern. Warm rustic hardwood floors are an effective counterpoint to sleek cabinet materials.
Gray is the New White Photo by Wellborn Cabinets
Wondering what color to paint your cabinets? The kitchen industry’s leading manufacturers say that while white cabinets continue to be tops, gray is the shade they’re betting on to break white’s top spot. This kitchen by Wellborn pairs soft gray cabinets with richly stained wood showcasing yet another kitchen trend — combining cabinet colors is a trendy look that’s holding strong. 42 CAPITAL AREA REALTOR ® — Mar/Apr 2017
TOP K I TC HE N T RE N DS — UPDAT E S T HAT W I LL B R ING YOUR K I TC HE N I N TO T HE 2 1 ST C E N T URY. Source: www.hgtv.com – Search Design Trends
Work with a REALTOR® to help you find more HOME DÉCOR TRE NDS.
Galley or Corridor-Style The galley, or corridor, kitchen has two straight runs on either side. Typically the sink is on one side and the range is on the other. The drawback to this design is traffic flow. A simple, one-wall design can be transformed into a galley shape with the addition of an island opposite the wall of cabinets. Islands help replace needed storage that is lost in an open kitchen design with limited wall cabinets. (From Andreas Charalambous) Image courtesy of Poggenpohl
Timeless Farmhouse Flair
Photo by Kohler
Kohler’s apron-front cast-iron sinks come in a variety of colors, including new neutral tones Dune, a soft sandy shade, and Suede, a dark hue that pairs well with granite countertops. “Apron-front sinks have never gone out of style,” says interior designer Christine Baumann.
Choose Bold Fixtures Bold color isn’t the only way to create excitement. Kitchen designer Vasi Ypsilantis used these oversized light fixtures with black fabric shades from Tech Lighting to add some wow: “They’re about 2 feet in diameter and are slightly larger than you would expect for the space,” she says. CAPITAL AREA REALTOR ® — Mar/Apr 2017 43
BACKPorch TRIVIA FINDS
Which historic DC landmark was the site of The Beatles’ first U.S. concert? 1. Arena Stage 2. Uline Arena 3. Arts & Industries Building 4. Atlas Performing Arts Center 5. The White House
Check Your Knowledge of DC Real Estate
Which of the following neighborhoods has the most expensive median monthly rents? a. Columbia Heights
b. Southwest Waterfront
3 closest to the median listing price for a
Out of the following numbers, which is home on the Washington, DC market? 1. $275,000
5. $1 million
Out of the following numbers, which is closest median monthly rent for a twobedroom apartment in Washington, DC? 1. $990
In what DC neighborhood can you find the homes of Julia Child, Jackie Kennedy, and Nancy Pelosi? 1. Georgetown 2. Forest Hills 3. Cathedral Heights 4. Kalorama 5. Benning Road Source: www.dc.curbed.com
Answers: 1. Uline Arena 2. Chinatown 3. $525,000 4. $3,150 5. Georgetown
44 CAPITAL AREA REALTOR ® — Mar/Apr 2017
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*Datatrac, America’s largest interest rate database, certifies that UNFCU 5/1, 7/1, 10/1 ARMs consistently outperformed the U.S. financial institution market average for the 12-month period 7/18/2014 to 7/18/2015. © 2016 UNFCU and ‘serving the people who serve the world’ are registered marks of United Nations Federal Credit Union. All rights reserved. 03/2016
Samson Properties Opens Bethesda Office 6701 Democracy Blvd. Suite 150, Bethesda, MD 20817
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12 Samson Properties Locations: • Alexandria • Bethesda • Chantilly • Culpeper • Falls Church • Fredericksburg
• Gainesville • Lake Ridge • Lansdowne • Locust Grove • Tysons • Vienna
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• FREE: 30 – 4-page COLOR LISTING BROCHURES, Printing & Delivery • FREE: ALL Samson listings are now “Featured Properties Listings” on “Listingbook” EVERYDAY your listing is on the market (normally $24.95 per week per listing) • FREE: Unlimited “Listingbook Open House Flyers” ($24.95 Value per Open House) • FREE: Copies: color & black & white (listing flyers & small jobs) large color jobs at 10¢ each (promotion, farming, etc.) • FREE: 70 Marketing Dollars Per Million Closed Monthly • FREE: 100 large color postcards mailed to renters for Open Houses • FREE: Electronic Newsletter • FREE: Drop-in desks & printers available for use • FREE: Runners for helping with errands, deliveries • FREE: 1-on-1 business development planning (11:45am) • FREE: Customized Listing Presentation • FREE: Over 200 hours of online video training on sales contracts and technology training - Learn at your own pace
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This issue features highlights from the revamped gcaar.com website.