R E A LTOR
Official publication for the Greater Capital Area Assocation of REALTORS®
CONGRATULATIONS TO OUR 2016 DISTINGUISHED AWARD WINNERS! - page 6
CAPITAL AREA REALTOR® • May/Jun 2014
we get it Real estate agents are constantly on call and on the go. ® Coldwell Banker understands. We provide unmatched internet exposure designed to reach more buyers and drive more leads directly to you, plus a company-paid tool that lets you manage and market to them all in one place – wherever you may be. 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. ©2016 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. 12857MA-9/16
CAPITAL AREA REALTOR® • May/Jun 2014
R E ALTOR
This Year’s Star Players – p. 6
GCAAR Happenings – p. 12
Flood Risk – p. 20
Home Maintenance – p. 34
in every issue
Ask the President
Don’t Let This Happen to You
GCAAR Award Winners
Education Schedule and Events Calendar
NAR Director’s Report
Meet Your GCAAR Committee
Keeping Homebuyers Informed of Flood Risk
New Emeritus Members
Welcome New Members!
GCAAR in the News
The Back Porch
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 email@example.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 ©2016 by the Greater Capital Area Association of REALTORS®. All rights reserved.
15201 Diamondback Drive, Suite 100 • Rockville, MD 20850 Phone: 301.590.2000 • Fax: 301.590.2248 • gcaar.com Facebook.com/GCAAR2 Twitter@GCAARNow LinkedIn.com/company/958686 CAPITAL AREA REALTOR® • May/Jun 2014 Instagram.com/GCAAR
board of directors
ask the president Q: Will the GCAAR Education SuperPass be available
again this January? I’d like to get it again!
President-Elect Jamie Coley
President Peg Mancuso
A: I love to hear how our members are taking advantage of GCAAR’s education classes. We are always looking for ways to expand our benefits and increase the number of members who use them. To that end, this fall we repriced all of our non-designation CE classes to $10 each for early bird registration. So instead of paying $129 for a SuperPass and not being sure if you would take enough classes for it to be of value, you can just sign-up for the classes you need and pay as you go. Unless you’re planning to take 13 or more classes next year, our new pricing structure will be much more economical than the old system. Q: I’ve heard that the YPN puts on some terrific events
each year. How do I join the YPN? Secretary Tom Daley
Treasurer Tim Knobloch
A: GCAAR’s Young Professional Network (YPN) has exploded over the past few years, and I agree, they put together some wonderful events! GCAAR’s YPN is open to everyone – those new in the business, veteran members, and everyone in between. There is no need to “join” YPN – events are open to all GCAAR members and are announced in the email digest Newsline, on the GCAAR master calendar, and via email. If you want advance notice of YPN activities, email firstname.lastname@example.org and ask to be added to the YPNsiders list. Q: Why should I continue to invest in RPAC in 2017 when
Immediate Past President Suzanne Des Marais
Chief Executive Officer Mike Moran
Koki Adasi Thom Brockett Roger Carp Brandon Green Jacque Grenning Susann Haskins
Bill Hounshell Danai Mattison Sky Hildy Pollard Jason Sherman Frank Snodgrass Pat Weed
R E A LTOR
Managing Editor Bobette Banks
Design & Layout Carla Conway, Uncommon Design
Advertising Representative Robert Silverstein 2 CAPITAL AREA REALTOR ® — Winter 2016
there are no big elections next year?
A: Great question! As we wind down from one of the most dramatic election seasons in American history, logic would dictate that we’ve all earned a much-needed break from politics. But as you know from your own business, it’s never time to truly turn off the engines that keep you moving forward and take a rest. RPAC is the REALTORS® Political Action Committee – it’s the fundraising arm that helps your associations support the candidates and issues important to real estate. Campaign laws do not require funds raised in a calendar year to be spent or allocated in that year. RPAC funds are cumulative. What is collected but not spent in 2017 will be used in 2018 or beyond. There are some big election races coming up in 2018, especially now that the Montgomery County Council members will face term limits. It’s important that each of us invests what we can in RPAC, in 2017 and 2018 and beyond, to ensure that we can fully support the candidates and issues that affect our industry when needed.
L-R: 2016 GCA WCR President Jackie Bennett with 2016 DCAR President Angela Jones.
L-R: 2016 GCA WCR President Jackie Bennett with Bo Menkiti.
L-R: 2016 GCA WCR President Jackie Bennett with sponsor Pat Miller from PNC Mortgage.
Women’s Council of REALTORS® Closes Out the Year The Greater Capital Area Chapter of the Women’s Council of REALTORS® (GCA WCR) closed out its year with the installation of officers on November 10. Maryland Women’s Council of REALTORS®’ President Gwen Henderson installed the officers. Outgoing President Jackie Bennett was awarded for two terms of outstanding service to the organization.
In addition, Bo Menkiti, CEO and Founding Partner of Keller Williams Capital Properties, shared his philosophy on success and building wealth. Angela Jones, 2016 President of the District of Columbia Association of REALTORS® offered words of inspiration, while Jeff Hornberger, Executive Director of the Women’s Council of REALTORS®, gave the WCR outlook for 2017.
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2017 Greater Capital Area WCR Officers:
L-R: President-Elect, Holly Buchanan; President, Elois Wiggins; Dina Paxenos, Secretary; Hildy Pollard, Treasurer; Linda Kibunja, Vice President of Membership.
Congratulations to the 2017 Officers: Elois Wiggins, President Holly Buchanan, President-Elect Dina Paxenos, Secretary Hildy Pollard, Treasurer Linda Kibunja, Vice President of Membership
CAPITAL AREA REALTOR ® — Winter 2016 3
Don’t Let This Happen to You! Joy Liberti, 2015 Chair, Professional Standards Committee
Responsibility for Sales Associate’s Error It is clear to REALTORS® that we owe the fiduciary responsibilities of confidentiality, obedience, loyalty, accounting, care, and disclosure to our clients, however, what responsibilities do we have to our Brokers? At all times, we have the responsibility to protect our Brokers by always following the Code of Ethics, License Laws, our fiduciary responsibilities to our clients, along with other standards of practice. In other words, we need to be fully informed of our duties and responsibilities and always act in a way that protects our Brokers, as well as our clients. Failing to do so can result in a complaint against the Broker. Article 2, reads in part that “REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction.” Case #2-2: Responsibility for Sales Associate’s Error (Revised Case #9-5, May, 1988.) Transferred to Article 2 November 1994 REALTOR® A, a REALTOR® principal, was asked to list a neglected house that obviously needed a wide range of repairs. He strongly advised the owner that it would be to his advantage to put the house in good repair before offering it for sale, but the owner wanted it sold at once on an “as is” basis. REALTOR® A wrote a novel advertisement offering a “clunker” in poor condition as a challenge to an ambitious do-it-yourself hobbyist. A few days later, Sales Associate B, who was not a Board member, from REALTOR® A’s office showed the house to a retired couple who liked the location and general features, and who had been attracted by the ad because the husband 4 CAPITAL AREA REALTOR ® — Winter 2016
was looking forward to applying his “fix-up” hobby to improving a home. The sale was made. Shortly thereafter, REALTOR®A was charged by the buyer with having misrepresented the condition of the property. REALTOR® A accompanied Sales Associate B to the hearing, armed with a copy of his candid advertisement. The hearing established that the buyer fully understood that the house was represented to be generally in poor condition, but that while inspecting the house with a view to needed repairs, Sales Associate B had commented that since the house was of concrete block and stucco construction, there would be no termite worries since termites could not enter that type of construction. Sales Associate B confirmed this and his belief that the statement was correct. However, after the sale was made, the buyer ripped out a sill to replace it and found it swarming with termites, with termite damage to floors in evidence.
Michele Lerner Further questioningby established that there had been no evidence of termite infestation prior to the sale, and that the Sales Associate had volunteered an assurance that he thought was well grounded. REALTOR® A, prior to the conclusion of the hearing, offered to pay the cost of exterminating the building and the cost of lumber to repair termite damage in view of Sales Associate B’s failure to recommend a termite inspection, which was the usual and customary practice in this area. The complainant stated that this would satisfy him completely. It was the Hearing Panel’s view that while REALTOR® A’s actions were commendable, and would be taken into account by the Hearing Panel, REALTOR® A was still responsible for the errors and misstatements of the sales associates affiliated with him. The Hearing Panel concluded that REALTOR® A was in violation of Article 2.
Did You Know?
How long have you been an Affiliate with GCAAR? I have been an Affiliate for just about a month now.
What are some of the events you support?
We have supported various events such as YPN and WCR in the past but as new members we are looking to get involved in other events.
The best technique for pricing a home
when listing for sale is setting the asking price just below a round number, according to research published by the Journal of Housing Research, an official publication of the American Real Estate Society (ARES).
The reason I support GCAAR is because REALTORS® are the main referral source for our company. I believe the best way to get a referral is to build relationships with the agents and GCAAR is a great avenue to get that started. On top of that, the other Affiliates can be a great resource for our company.
ALSO, ROUN DE D PRI C E D HO M E S USUALLY HAVE A SHO RT E R T I M E ON T HE M ARK E T AN D A LOW ER DI SCO UN T RE LAT I VE TO LI ST ING PRI C E , RE SE ARC HE RS FO UN D.
What would you say to people considering becoming an Affiliate?
DAILY REAL ESTATE NEWS | AUGUST 11, 2016
If it is essential for your company to be in front of real estate agents, there is no better place.
Photo by David Sacks/Digital Vision/Thinkstock
Why do you continue to support GCAAR as an Affiliate?
Business Development Representative
Why do you think being a member of GCAAR is important? Just coming to a couple events a year as a non-member was beneficial to getting to know some people but it really wasn’t enough. I truly believe the best way to get involved in any organization is by going in wholeheartedly.
Our study suggests that by using the just below pricing strategy sellers can price their home slightly higher without driving away potential buyers, as a result, they end up selling their house for more. – Eli Beracha, one of the study’s authors CAPITAL AREA REALTOR ® — Winter 2016 5
2016 GCAAR REALTOR® OF THE YEAR PEG MANCUSO GCAAR is pleased to name Peg Mancuso as its REALTOR® of the Year for 2016. Peg is with W.C & A.N. Miller (A Long & Foster Company) in Potomac having started Daly, Mancuso and Associates almost 16 years ago.
Distinguished Award Winners
6 CAPITAL AREA REALTOR ® — Winter 2016
Peg is a 31-year veteran of the real estate industry. Licensed in DC, Maryland, and Virginia, Peg has been a top producer with several major real estate companies, including Long & Foster, Weichert, and W.C. & A.N. Miller REALTORS® over her distinguished career. Currently the President of GCAAR, Peg serves on GCAAR’s Board of Directors as well as the boards for the National Association of REALTORS® (NAR) and Maryland Association of REALTORS® (MAR). Additionally, she serves on MAR’s Budget Task Force, Legislative Committee, is a former Chair and active member of GCAAR’s Public Policy Committee, and a former member of the Education, Budget, and Community Service Committees. Peg is a lifelong Washingtonian. Educated at the University of Maryland, Peg has called Potomac her home for the past 30 years. When not working, Peg is an avid traveler and skier. She volunteers in local community activities including Rebuilding Together® as well as being a major supporter of several charities and foundations, including the National Center for Missing and Exploited Children, Habitat for Humanity, The Boy Scouts of America, the ASPCA, and the Leukemia & Lymphoma Society.
Winning is not everything, but the effort to win is.” By Michelle Yam, Manager
— Zig Ziglar
MRIS COMPLIANCE DEPARTMENT
EACH YEAR GCAAR RECOGNIZES MEMBERS WHO HAVE MADE SIGNIFICANT ACCOMPLISHMENTS IN THEIR RESPECTIVE AREAS. WE ARE PLEASED TO NAME OUR 2016 AWARDEES FOR REALTOR®, ROOKIE, AND AFFILIATE OF THE YEAR.
® CAPITAL AREA REALTOR • May/Jun 2014 gcaar.com • May/June CAPITAL AREA REALTOR ®2016 — Winter 2016 7
2016 ROOKIE OF THE YEAR ANGELA HOYOS GCAAR is pleased to announce Angela Hoyos as its 2016 Rookie of the Year. Angela is a REALTOR® with Real Living At Home and one of the principals of The Washingtonian Group. She obtained her real estate license in 2013 and closed 26 transactions in her first 12 months. In 2015, her sales volume increased to over $10 million. Angela prides herself on being a strong supporter of the real estate community. She is a member of the GCAAR YPN Events Subcommittee. She is also a member of the National Association of Hispanic Real Estate Professionals (NAHREP) and a NAHREP Maryland Chapter Committee member. Angela is most importantly a devoted wife and mother. She and her husband David have three young children; Sofia, Valentina, and a new baby named Oliver. The family is rounded out with their two dogs, Paco and Lola. Together they enjoy bike rides, kids sporting events, and family trips.
2016 AFFILIATE OF THE YEAR SARA DEMB GOLDSTEIN GCAAR is pleased to announce Sara Demb Goldstein as its 2016 Affiliate of the Year. Sara has been in the title business for more than three decades and has been working with Capitol Title since 1988. She is currently the company’s Director of Marketing/Client Services and is a Licensed Settlement Officer in Maryland, DC, and Northern Virginia. She has conducted tens of thousands of residential and commercial closings in the Baltimore/Washington Metropolitan area and is most well-known for her “hand-holding” approach with homebuyers. An Affiliate member of the Greater Capital Area Association of REALTORS® for more than 25 years, Sara has served on both the Education and Events committees. She has chaired and served on the Events Committee numerous times and particularly enjoys planning GCAAR’s annual REALTOR® Fest. Sara also is a member of the Maryland Land Title Association. In college, Sara was a student-athlete and received her undergraduate degree from the University of Michigan. She holds a graduate degree from Boston University in Education/Sports Psychology. When she’s not at the settlement table, you might find Sara at University of Maryland gymnastics competitions and basketball games, hanging with her three grown children, or travelling all over the world with her husband, Stan. AREA REALTOR • May/Jun 88 CAPITAL CAPITAL AREA REALTOR — 2014 Winter 2016 ®
Peg with the 2016 GCAAR Board of Directors First Row L-R: CEO Mike Moran, Susann Haskins, 2016 President Peg Mancuso, 2016 President-Elect Jamie Coley. Middle Row L-R: Pat Weed, Thom Brockett, Brandon Green, Jackie Grenning, Hildy Pollard, COO Bill Highsmith. Back Row L-R: Bill Hounshell, Jason Sherman, Roger Carp, Koki Adasi, Frank Snodgrass, 2016 Secretary Tom Daley.
T HA N K YOU GCAAR thanks Peg Mancuso for her leadership and vision as 2016 GCAAR President!
We appreciate your s erv i c e
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 9
GCAAR Cares Gives Back
GCAAR Cares Committee enjoys lunch at the Greene Turtle Sports Bar & Grille. L-R: Jennifer Summers, GCAAR Programs Associate; Samantha Damato, Jina Myers, GCAAR Programs Associate; Marlene Trimble, Robert Whaley, Anjolene Smack-Whaley, Marie Enderle, Dina Paxenos,Vice-Chair; JD Teitelman, Chuck Clapper, Bill Highsmith, COO.
Flower Branch Fire Assistance and Blood Drive On August 10, a natural gas leak at the Flower Branch Apartments in Silver Spring resulted in an explosion, the tragic death of seven residents, and the displacement of over 80 households. GCAAR members stepped up with a multi-pronged approach to provide relief to the residents with a fundraiser at the Greene Turtle Sports Bar & Grille in Olney on October 27. In addition, we assisted Interfaith Works, one of our 501 (c) (3) nonprofit partners, by donating gift cards, winter clothing, and bedding, and worked with A Wider Circle to help members drop off donated furniture. We appreciate our members’ ongoing efforts in assisting these residents.
Those who contributed to the GCAAR Cares Blood Drive on Nov. 7
® CAPITAL AREA AREA REALTOR 2014 2016 10 CAPITAL REALTOR•®May/Jun — Winter
Blood collected will help those in need across the metro DC area.
Capital Area REALTOR® – Reader Survey
We want to hear from you! Over the past year we’ve added quite a few new columns to your magazine and updated some of the standards. Let us know what you like, what you aren’t as crazy about, and what you’d like to see more of. Include your name and email address with your response and you’ll be entered into a drawing for a $100 gift card! Which of the follow features do you read? I always read it
I sometimes read it
I glance at it
I never read it
Ask the President
NAR Director’s Report
GCAAR in the News
The Back Porch
Don’t Let this Happen to You
Meet Your GCAAR Committee
Public Policy Briefs
What type of information would you like to see more of?
What are your favorite magazine features?
m Using technology for success
m Top 10 Lists
m Value GCAAR provides its members m Housing statistics/economic outlook m Other (please specify):
m Infographics Optional m Photos m Quizzes Name m Short-format articles Email (½ page or less) m Long-format articles (1 page or more) m Q&A columns
Chance to win $100 Gift Card
m Other (please specfy):
m Ideas on how to grow my business
Do you have any other ideas or feedback on Capital Area REALTOR®?
MAIL or EMAIL your results to: GCAAR, 15201 Diamondback Drive Suite 100, Rockville, MD 20850, or to email@example.com.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 11
GCAAR happenings GCAAR YPN Enjoys an Active End of Year YPN Happy Hour - October 20
Trapezaria in Rockville was the scene of GCAAR’s Young Professional Network’s (YPN) Fall happy hour event. Guests enjoyed the hip ambiance and great food as they networked with friends and colleagues.
L-R: Marci Maged, Bari Solomon Siegel, and Fernanda Sotomayor, Pinnacle Title & Escrow.
October 20 L-R: Chris Saabye, Stewart Title; Monique Malabet, Keller Williams Capital Properties; Muju Hussain, Coldwell Banker; Chris Kearney, MVB Mortgage, YPN Sponsor; Marysol Bonilla, Keller Williams Capital Properties.
L-R: Real Living At Home team: Jessica Evans, Pat Reisin, and Erica Collins.
October 20 L-R: Dushanti Peiris, Sandy Spring Bank; Jeremy Lichtenstein, RE/ MAX Realty Services and Kids In Need Distributors (KIND); Rob Mercer, First Savings Mortgage; John Coester, CLA Title & Escrow.
Dirty Little Secrets III - October 27 GCAAR YPN held its ever popular “Dirty Little Secrets III on October 27 at DC’s Blind Whino creative arts space. Over 100 attendees got to hear the things top producers NEVER want to tell you about how they are building their business. The panel included: Nurit Coombe from The RE/MAX Collection; 2016 GCAAR President-elect Jamie Coley, Long & Foster; Marjorie Dick Stuart, W.C. & A.N. Miller; Marc Fleisher, TTR Sotheby’s; and Jennifer Smira, Compass.
YPN member Justin Levitch from Real Living At Home emcees the event.
L-R: Marc Cowan, Chad Dudley, Brian Lumpkin, and Mike Nangle, RE/MAX Realty Services.
12 CAPITAL AREA REALTOR ® — Winter 2016
GCAAR happenings Pathways to Housing GCAAR YPN collected donations for more than 15 welcome home baskets to be provided to individuals transitioning into permanent housing at a part of its 2016 Community Service event benefiting Pathways to Housing DC. Many thanks to all who supported and to Monarch Title, Inc. for sponsoring the event.
L-R: Kat Matus, Pathways to Housing DC; David Toaff, First Home Mortgage; Rob Rothstein, Paragon Title-YPN Chair; Chris Kearney, MVB Mortgage; Harrison Beacher, KW Capital Properties-YPN Vice-Chair; Jessica Evans, Real Living At Home; Jake Ryon, First Home Mortgage; Trang Bui, Real Living At Home; Jeremy Rosenthal, Long & Foster.
Some of the artwork donated to Pathways to Housing DC for their consumers to take to their new homes.
Halloween “Boo-Ling” Brings Fun GGCAAR partnered with Miriam’s Kitchen on October 26, hosting a Halloween “Boo-Ling” Party at Bowlmor Bethesda to provide living essentials to help veterans and homeless in the DC area. Members brought donations along with their bowling skills and enjoyed a fun night out with fellow REALTORS®. Prizes were awarded for best individual and team costumes. Many thanks to our sponsors: Capitol Title, First National Bank, JK Moving Services, Kriss Law| Atlantic Closing & Escrow, SUPER, Embrace Home Loans, Greenway Funding Group, and Title Town Settlements.
L-R: 2016 GCAAR President Peg Mancuso; Sara Demb Goldstein, Capitol Title; 2016 DCAR President Angela Jones.
Karen Szala, RE/MAX Allegiance.
The Winning Team Costume - RE/MAX Elite Services L-R: Brenda Trammelle, Etay Simhony, Bruce Atkins, Nurit Coombe, Doryss Amar, and Jenny Atkins.
CAPITAL AREA REALTOR ® — Winter 2016 13
GCAAR Happenings NAR Chief Economist Lawrence Yun Speaks at Broker/Manager Forum GCAAR’s final Broker/Manager Forum of the year focused on the Regional Economic Outlook and Area Housing Market Trends. The speaker was NAR’s Chief Economist, Dr. Lawrence Yun. Dr. Yun discussed the current conditions in the economy and his forecast for the region, as well as changes to housing finance and the market and expectations for the coming year.
Winning Individual Costume Kerry Roth, RE/MAX Realty Services (center) with GCAAR President Peg Mancuso (left) and 2016 Affiliate of the Year Sara Demb Goldstein.
Mark Your Calendars! February 28
January 4, 2017 Mortgage Basics CEU: 3 hours MD, DC and VA (elective) Instructor: Jamica Browne Time: 9:30 a.m. – 12:30 p.m. January 4, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Carole Maclure Time: 1:30 – 4:30 p.m. January 7, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 10:00 a.m. – 1:00 p.m. January 9, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: Ned Rich Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor NOTE: All classes are held at GCAAR’s Rockville office unless otherwise noted
14 CAPITAL AREA REALTOR ® — Winter 2016
Deadline for DC Broker License Renewal
May 10 Night with the Nats
2017 EDUCATION SCHEDULE
January 9, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD (elective) Instructor: James Semeyn Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor January 12, 2017 New Member Orientation CEU: No CE Instructor: Dana Hollish Hill Time: 10:30 a.m. – 4:00 p.m. January 12, 2017 Maryland Code of Ethics and Predatory Lending CEU: 3 hours MD (required) and DC (elective) Instructor: Dana Hollish Hill Time: 1:00 – 4:00 p.m. January 20, 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. January 20, 2017 Maryland Fair Housing CEU: 1.5 hours MD (required) and DC (elective) Instructor: Al Monshower Time: 1:30 – 3:00 p.m.
January 23, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor
January 26, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 1:30 – 4:30 p.m. * NAR Building/2nd Floor
January 23, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Andrew Di Paola Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor
January 26, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Jacqueline Talpa Time: 5:00 – 8:00 p.m. * NAR Building/2nd Floor
January 25, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD (elective) Instructor: Tom Biegler Time: 9:30 a.m. – 12:30 p.m.
January 28, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD (elective) Instructor: Jamica Browne Time: 10:00 a.m. – 1:00 p.m.
January 25, 2017 DC Legislative Update CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 1:30 – 4:30 p.m.
January 30, 2017 MREC Agency - Residential CEU: 3 hours MD (required) and DC (elective) Instructor: David Politzer Time: 10:00 a.m. – 1:00 p.m. * NAR Building/3rd Floor
January 25, 2017 DC Fair Housing CEU: 3 hours DC (required) Instructor: Mary Chieppa Time: 5:00 – 8:00 p.m. January 26, 2017 Financing Issues/Update CEU: 3 hours DC (required) and MD (elective) Instructor: James Semeyn Time: 9:30 a.m. – 12:30 p.m. * NAR Building/2nd Floor
January 30, 2017 2011-2015 Maryland Legislative Update CEU: 3 hours MD (required) and DC (elective) Instructor: David Politzer Time: 2:00 – 5:00 p.m. * NAR Building/3rd Floor
NAR Director’s Report Peg Mancuso 2016 GCAAR President, NAR Director
The NAR Board of Directors met November 7 for its final meeting of the year during the annual convention in Orlando. On the agenda were several new initiatives and important governance changes to position the association for the future. Here are the highlights: Commitment to Excellence Framework Passed The Board approved the framework of the Commitment to Excellence (C2EX) program, an initiative to develop and enhance qualities that reflect the commitment of a REALTOR® to ethics, advocacy, technology, data privacy, and customer service. As part of the voluntary program, which is contingent on the approval of funding, NAR will develop a self-assessment designed to measure a REALTOR®’s proficiency in the C2EX competencies and position him or her for improvement. The program will be made available to members through a website and a mobile app known as C2EX Central. NAR will cover the full cost of the Commitment to Excellence program and administer it. Fair Housing – The Board voted to “support and/or initiate” legislative and regulatory efforts that would bar discriminating against people seeking to procure housing based on their sexual orientation or gender identity. The Federal Fair Housing Act protects equal housing opportunity on the basis of race, color, religion, sex, handicap, familial status and national origin, but not on the basis of sexual orientation and gender identity. NAR CEO Search – NAR CEO Dale Stinton will retire at the end of 2017. Chris Polychron, NAR’s 2015 president, will chair the search committee, and Cathy Whatley, NAR’s 2003 president, will serve as co-chair. The full search committee will be named in a matter of weeks. Board Structure Changes – The Delegate Body approved minor changes to the composition of NAR’s Board of Directors, and defeated proposed changes to the allocation formula for state and local association representatives to the board. Appraisals – The Board voted to urge FHA to void its requirement that an appraisal stays with the property for 120 days, which can negatively affect property values in markets where prices are rising. RPAC – The Board voted to encourage states and territories to submit their annual RPAC fundraising goals for the following year and has simplified the RPAC award system.
Legal Assistance: – The Board approved spending roughly $221,000 to support legal activities undertaken by NAR, a local association, and a state association. Advocacy Grants – The Board approved grants to several state and local associations to support advocacy activities.
Recognitions Distinguished Service Awards Pat G. Kaplan, of Portland, Oregon Barbara B. Lach, of Columbus, Ohio William R. Magel Award of Excellence for Association Executives Andrea Bushnell CEO, North Carolina Association of REALTORS® AE Leaders of Tomorrow Young Professionals Awards Maranda DeSanto, Duluth Area Association, MN Ruth Hackney, Missoula County Association, MT
Technology December – NAR has moved its main website, REALTOR.org, to a new web address, nar.realtor. Realtors Property Resource® Directors were updated about RPR®’s Advanced MultiList Platform™ (AMP™) and Project Upstream initiatives. Both initiatives are on time and under budget.
Cultural Investment – The Board approved spending $1.2 million to maintain NAR’s sponsorship of the “Within These Walls” exhibit at the Smithsonian Institution’s National Museum of American History in DC. Patent-infringement Insurance – The Board approved a recommendation by the Legal Action Committee to purchase liability insurance for NAR itself, REALTOR®-owned MLSs, and state and local associations to protect against patent-infringement claims by “patent trolls,” which profit by seeking fees for use of overly broad patents that they own.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 15
By Michelle Yam, MRIS Compliance Department Manager
New Year, New Construction As demand for housing grows, builders will continue to construct new homes to meet that demand. Many builders list their new construction homes with brokers and offer compensation to cooperating brokers. Here are some tips on how to enter new construction listings in Keystone and how to search for these new homes in Matrix. What to Do When Entering New Homes in Keystone
When entering a new construction home in Keystone, you should select “Yes” to New Construction Y/N field under the General Section of Keystone. You may also add additional showing instructions from the Showing picklist. Some of the items available include: Onsite Sales, Offsite sales, Plan Avail/no model and See models.
Tax ID Numbers
Sometimes MRIS Public Records may not have the Tax ID numbers for new construction because the county has yet to assign the new Tax ID number or MRIS has yet to receive the updated tax information from the taxing jurisdiction. To enter a listing without a Tax ID number, you can enter the state and county information, then click the continue button. The following warning will appear: You have not attached a Tax Record, are you sure you want to proceed? Select Yes to the warning. If the Tax ID number does not appear in the MRIS Public Records, you will not be assessed a fine.
Multiple Models Available
Since many new home communities offer more than one model and that model can be built on a variety of lots, you will need to list only the models. Once the homes are sold, you may enter them as a Comparable. If the builder is offering a couple of different models, but is building only one spec model and is using the spec model as the sales office, use the address for sales office address as the address for the other unbuilt model homes. Enter each model under its own MLS number and enter the base price as the sales price. As these homes are new construction, there may not be photos available. You may upload images of the model home or artist renderings including different elevations and floor plans and photos of the actual models.
Contract Information: Compensation and Special Conditions
When you enter compensation into Keystone, you can enter it as dollar amount or a percentage in the compensation fields in the same way that compensation is entered in resale property. You may also indicate the
® CAPITAL AREA AREA REALTOR 2014 2016 16 CAPITAL REALTOR•®May/Jun — Winter
basis for the commission. This information will display in Matrix. The following options are available under the Contract Information picklist in Keystone to indicate the basis for the commission: • Comp-Base Price • Comp-Base Price • Comp-Lst Home • Comp-Vary w/ Proj • Comp on all Homes • Comp-Settled Price MRIS allows you as the listing agent to enter special contract conditions in Keystone. This information will display in Matrix. The Contract Information picklist has the following items, and you may select as many as apply. • Bld-Contract Req • Bld-Write Contract • Registration Req • Bld-Hold Earn • Spec Home Avail and Inv Home Avail • Builder Warranty
Tips for Searching for New Construction Properties in Matrix
Searching for new construction in Matrix is handled the same way you would search for a resale listing with a couple of added features. To search for new construction, select “Yes” to the New Construction Yes/No Field. Enter all the other criteria such as bedrooms, bathrooms, city, price, etc. Be sure to check the Contract Information section for specific information on the contract and on compensation as well as the showing instructions for information on showing the property.
Visit MRIS.com/compliance for compliance tips, videos and more.
Thanks for helping to keep the MLS data accurate!
Compliance Corner If your Broker does Sales Awards, here’s a tip for you: “Comp” and Sales Awards: You may enter a “Comp” in MRIS if you were the selling agent on a property that was not previously listed in MRIS and the property has settled. New home sales or FSBO’s are examples of properties that may be entered as Comparables.
FOLLOW THESE STEPS
To enter a “Comp”: 1. Access Keystone 2. Click Add Listing 3. Enter the comparable listing in in the same manner you would add a listing with two exceptions. • Enter “Yes” in the For Comp Purposes Only Y/N field.
You may only enter a “Comp” if you participated in the transaction.
• Under the Status field, the only choice is SOLD. Select SOLD. Only one selling agent may be entered into the system per listing. Contact your local association to find out how to submit shared sales for sales awards. Comparable sales may only be entered up to one year after the settlement of the property.
firstname.lastname@example.org | MRIS.com | MRISblog.com | Facebook.com/MRISonFB
Meet Your GCAAR Committee
Communications Communications Committee The Communications Committee reviews and recommends communication delivery methods and content and also contributes content for print and online communications. Chair: Wanda Farrar Vice Chair: Tina Del Casale Staff liaison: Bobette Banks Members Avi Adler Chris Kearney
GCAAR Communications Committee Caption: L-R: Bobette Banks, Staff Liaison; Wanda Farrar, Chair; Avi Adler. Not pictured: Tina Del Casale, Chris Kearney.
We are grateful for your commitment to serve. CAPITAL 19 CAPITALAREA AREAREALTOR REALTOR® ®——Nov/Dec Winter 2016 17
public policy Montgomery County Montgomery County Addresses Foreclosure and Unmaintained Vacant Property Concerns
Septic Regulations Rolled Back in Maryland
Over the past year, GCAAR has been working with the Montgomery County Council and housing stakeholders on two critical issues: foreclosures and unmaintained vacant properties. Both issues can contribute to housing market stagnation and pull down housing values and marketability for neighboring homeowners. Keeping our housing market solvent and moving is essential to the overall financial health of the County.
Revised septic regulations in Maryland took effect November 24, which no longer require most new construction outside of Maryland’s Critical Areas to install an enhanced nutrient removal septic system, often referred to as Best Available Technology (BAT) systems.
GCAAR recently testified on behalf of REALTORS® in support of two bills currently before the Council – the Foreclosed Property Registration Penalty and the Vacant Property Registration. We believe both bills are practical, reasonable, and maintain fair protections for property owners. GCAAR commends the author of the legislation Tom Hucker, D-District 5, and the Council’s effort to protect County homeowners. Both bills are expected to move forward in early 2017. Foreclosed Property Registration Penalty Bill The County’s current foreclosure regis-
try requires the owners of a foreclosed property to identify who is holding the property’s deed. Many do not register. This new bill incentivizes owners to identify themselves by increasing penalties over time for not registering. The bill hopes to help condo and homeowner associations collect delinquent payments and maintain these units until the next owner takes over. The goal of the proposed legislation is to move all foreclosed properties into more productive use sooner, allowing more people in the county the opportunity to become homeowners. Unmaintained Vacant Property Bill This bill requires unmaintained vacant properties to be registered. Registering blighted properties will help separate these units from properties that are maintained but unoccupied. Many owners in our area live elsewhere at different points of the year. These properties, while vacant, are well maintained and definitely not blighted. Blighted properties, on the other hand, bring to a variety of safety and health concerns, as well increased risk of crime. It is the GOAL of the proposed legislation to move foreclosed
properties into more productive
use sooner, allowing more people in the county the opportunity to become homeowners.
® CAPITAL AREA AREA REALTOR 2014 2016 18 CAPITAL REALTOR•®May/Jun — Winter
BAT systems will still be required for properties located in the Critical Area (within 1,000 feet of tidally influenced water). The regulation also requires BAT systems for new construction or replacement systems outside the Critical Area but within the Coastal or Bay Watershed “where the design flow is 5,000 gallons per day or greater.” These systems are typically larger commercial or community systems. This change does not stop local governments from requiring BAT systems for areas outside of the Critical Area. The Maryland Association of REALTORS® (MAR) supported the rollback, as BAT systems add significant expense to new housing costs and negatively impact the availability of affordable housing without significant environmental benefits outside the Critical Area. The BAT system was required for a broader range of new construction beginning in 2012, a measure opposed by MAR.
public policy District of Columbia DC REALTORS® Fight for TOPA Modernization The District’s Tenant Opportunity to Purchase Act (TOPA) has been a part of DC law for over 30 years. REALTORS® support TOPA’s intent to provide fair legal protections for tenants. Over the past few years we’ve had major concerns with the law’s unintended negative consequences for homeowners of single properties.
3. There are no official compliance certificates affirming
DCAR would like to work with the DC Council to MODERNIZE, CLARIFY and MAKE TOPA MORE TRANSPARENT! DCAR is currently in the process of drafting legislation to address member concerns, including:
date the Internet) and should be updated.
1. Exempting single-family homes, including those with
We have made strides in helping the DC Council understand our position, but we encourage you to voice your concerns as well! The issue is far from resolved, but it is at the top of our 2017 agenda.
an accessory unit, from TOPA. 2. Lack of clarity with the term ‘tenant.’ Confusion with
the term occurs when a property owner occupies one or more unit and rents out another. Who in the occupancy of a property is a ‘tenant’ and entitled to TOPA rights?
that a seller has properly complied with TOPA, making it difficult to get title insurance. Without official certification for compliance, sellers and their real estate agents may be subjected to unnecessary and costly litigation. 4. Timelines for compliance are antiquated (they pre5. With no guidelines currently in place, tenants may
auction their rights. This process ties up sales and can complicate or even kill deals between well-meaning homebuyers and sellers.
Have a problematic TOPA situation you want to share with us? Email email@example.com.
on the Hill Federal Conforming Loan Limits Increase in 2017 The federal government is increasing the limit for conforming mortgages from $417,000 to $424,100 in most regions of the United States starting January 1, 2017 - the first such increase since 2006. The 1.7% bump in limits follows the FHFA’s announcement that the average U.S. home price has returned to its pre-decline peak, which it hit in the third quarter of 2007. Conforming loan limits are higher in parts of the country where home prices are especially high, but cannot be more than 150 percent of the baseline limit. Limits in Montgomery County and DC will be capped at $636,150, the highest possible limit in the contiguous U.S. “Today’s conforming loan limit increase is a much-needed recognition of rising home prices in high-cost markets, and a help to first-time and lower-income borrowers looking to utilize an FHA mortgage. Credit remains tight, but this decision will help more qualified buyers address the hurdles and high costs standing between them and the dream of homeownership.”
— William E. Brown, NAR President LEARN MORE AT: realtor.org
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 19
September of 2017, as well as mitigation efforts that protect homeowners before a flood strikes. Earlier this year, NAR also supported House-passed legislation that would allow homeowners to move seamlessly between the NFIP and private insurance markets without the risk of an arbitrary rate increase.
As Flood Risk Threatens Properties, REALTORS® Can Play Key Role Keeping Buyers and Sellers Informed Floods are widespread throughout the nation, with Hurricane Matthew and this summer’s flooding in Louisiana serving as the latest examples. Homebuyers need to be aware of the threat that flooding poses to their investment, as well as to their safety, and REALTORS® can play an important role in helping clients address that risk before disaster strikes. Melanie M. Graham of H2O Partners told an audience at the 2016 REALTORS® Conference & Expo in Orlando, Florida, that “every building you will be working with has a need to be protected.” Graham reminded REALTORS® in attendance that all property owners have the option to purchase flood insurance, not simply those in high-risk areas. In many cases, she added, that coverage is relatively affordable. Floods in lower risk zones are fairly common, according to Graham. She said 20 percent of National Flood Insurance Program claims occur in low- to moderate-risk zones, receiving one third of overall flood disaster assistance. Graham
also reminded the audience that a disaster declaration alone may not result in a payout for property owners, calling the idea a myth. Instead, she said having a flood insurance policy in hand is critical to protecting property owners when disaster strikes. Maria Wells, chair of the National Association of REALTORS®’ Insurance Committee, moderated the event. She reminded the audience of a REALTOR’s® role in educating clients about flood risk to their property. Wells suggested that REALTORS® find a good insurance agent they can trust and get to know their state floodplain manager so they have a place to ask questions. “When we’re working with our buyers, it’s important to inform them of the devastation that can occur if they aren’t covered,” said Wells. She said of buyers in low- and moderate-risk areas who decide against purchasing flood insurance, “that’s a really big mistake with what we know now.” NAR supports a range of policy solutions to ensure access to affordable flood insurance. Among them, NAR supports an extension of the NFIP before it expires in
Homebuyers need to be aware of the threat that flooding poses to their investment, as well as to their safety.
® CAPITAL AREA AREA REALTOR 2014 2016 20 CAPITAL REALTOR•®May/Jun — Winter
2016 NAR President Tom Salomone said following the event that it’s important for REALTORS® to keep flood insurance policy in the spotlight so homeowners can protect their families and their property. “Floodwaters continue to threaten homes around the country, but the clock is ticking to reauthorize the NFIP,” said Salomone. “As NAR works with leaders in Washington to reauthorize the program, REALTORS® in the field are doing their part to educate themselves and their clients on how they can best protect their homes, their investments, and their families.” Earlier this year the REALTORS® Relief Foundation committed up to $350,000 to help flood victims in South Louisiana. This and other news releases are posted in the “News, Blogs and Videos” tab on the website. Information about NAR is available at nar.realtor. Source: National Association of REALTORS®
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CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Sept/Oct 2016 23
COACHES’ CORNER We’ve asked two of the top real estate coaches the following question. Take a look at what they have to say.
How important is preparing a personal business plan each year for a REALTOR®’s success? What should I include in my personal business plan and when is the best time to start making a business plan for the upcoming year?
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.”
Business planning is the very cornerstone and foundation upon which ANY business is built. If there is no road map to a destination, how will you get there? I’m often caught off guard when I ask an agent, “What is your goal for this year?” and they do not have an answer, almost as if they’d never been asked that question before or even given it any thought. In a business where our success is constantly measured by our units, GCI, and sales volume, a goal to get there is vital. What we know about real estate is that there are only about 1,345,267 different ways to make it happen, in other words, lead generation comes in MANY different forms. When coaching my clients, I teach them the “Gut Check” method. When I say, “Door Knocking,” what does your gut tell you about that? Often times, even if they’ve never knocked on a door in their life, they have an idea it’s something they would enjoy doing. Here’s what I know-if you enjoy it, you’re more likely to do it. Now, back to the different ways of doing this business, there are many. I encourage agents to pick three lead generation strategies. THREE. No more, no less. Of those three, two must be aggressive approaches. What do I mean by aggressive? It means it actually requires YOU to take physical action. Examples: Calling For Sale by Owner, Calling Expired or Withdrawn Listings, Door Knocking, Cold Calling, Just Listed/Just Sold Calls. Examples of the Opposite: Putting an ad up on Facebook, advertising in a newspaper, taking out a billboard, buying a zip code.
® CAPITAL AREAREALTOR REALTOR Sept/Oct 2016 CAPITAL AREA AREA •®May/Jun 2014 2016 22 CAPITAL REALTOR —• Winter ®
If there is no road map to a destination, how will you get there? I think it’s clear to see an aggressive approach gets you “right now” action, yet requires you to build your willpower and skill set. The more passive approach, or a marketing-heavy approach, requires some funds and a marketing budget to make an impact. I also encourage REALTORS® to make sure they are purposeful about education and the food they feed their brain. What classes will you attend? What books will you read? Mental growth is directly related to how well your business will grow. Because real estate is a 90-day cycle, I start my business planning 10/1. What we create in the final quarter, we typically get paid on the first quarter. Weekly check-ins on your progress is vital in having a successful, functioning business plan. Set an appointment with yourself once a week to see if you’re on track. Weekly meetings to work ON your business will keep you IN the business!
Got a question for our coaches? Send it to: communications@gcaar. com and it may be featured in an issue of Capital Area REALTOR®
The Importance of a Personal Business 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.
Writing a business plan is not fun. Writing a business plan takes time. It forces you to look at your business life and your personal life. It forces you to face the truth to see what activities are working and what needs to be eliminated. It’s not fun because it forces you to take a good hard look at your spending habits and your business practices. For these reasons, most REALTORS® don’t have a written business plan. I was among that number for many years. It wasn’t until I actually sat down and wrote out my plan that I understood how invaluable having a written plan was. You need to remember that as a real estate agent you are running your own business. What business do you know of that can run smoothly and make a profit without a formal plan? Part of having a business plan is knowing your numbers. REALTORS® don’t like knowing their numbers, but they need to know them. We need to know if where we are spending our money is providing a good
We need to know if where we are spending our money is providing a good return. We need to know how many people we have to talk to in order to convert one into a qualified client. return. We need to know how many people we have to talk to in order to convert one into a qualified client. When you write your business plan you should look at your personal and business life because the two go hand-in-hand. When either one of these is off balance, your whole life is thrown off balance. You’ll need to review your personal expenses, as well as your business expenses to determine how much your life is costing you. That alone can be a rude awakening. Once you know how much you spend, you can decide how much you want or need to earn. You want to make sure you determine how much profit you want to make. Very few people run a business to break even. Consider your business plan to be your road map to success. When done properly it will eliminate stress, confusion, and doubt because you will know what you need to do each day to achieve the goals you set.
You need to remember that as a real estate agent you are running your own business.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 23
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CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 25
housing statistics by Fred Flick, PhD, Consultant/Housing Economist
MONTGOMERY COUNTY & DC Montgomery County Sales Market
The October combined (single-family and condo/coop) sales market really ratcheted-up compared to a year ago. The total sold dollar volume was over $491.6 million – a jump of 13.4% from last October. Similarly for unit sales, there were 1,002 closed sales, and these jumped 7.2% from a year before. The average sold price this October was $490,665 – up 5.8% from a year before; and, the median sold price was $403,488 rising 3.7%. Moreover, the rate of turnover increased relative to a year ago. Average days on the market totaled 55, down a significant 14% from a year ago; and, the typical or median number of 28 days dropped over 26% from a year ago.
Single-Family Listings and Inventory -10/16 Single-Family Listings and Inventory10/15 10/15 -10/16 3000 2500 2000 1500 1000 500 0
Single-Family Homes TSo far, the single-family sales market in
Montgomery County has held up pretty well, showing only modest slippage from the mid-summer peaks. Through October, year-todate single-family settlements (8,360) were 6.2% over those for the same period in 2015; and, year-to-date contracts (8,787) were up 3.5%. However, October contracts showed some slippage from this time last year. New contracts came in at 824 homes, down 2.3% from last year. On the other hand, October settlements (763) were up 9.5% compared to a year before.
Single-Family Contracts and and Settlements 10/15 - 10/16 Single-Family Contracts Settlements 10/15 - 10/16
Montgomery County Single-Family Prices: - 7/2016 Montgomery County Single-Family Prices: 2007 -2007 7/2016
$600,000 $550,000 $500,000
F M Contracts
A M J Settlements
There was a dramatic decline in October inventory from a year ago. At the end of the month there were 2,128 active property listings, and these were down almost 20% from October 2015. Furthermore, for the month there were only 984 new listings and they were down over 13%. At the October contracts pace, there was only a 2.6-months’supply of actives. This still beats out the supply in earlier months, where the figures were usually below 2 months.
® CAPITAL AREA AREA REALTOR 2014 2016 26 CAPITAL REALTOR•®May/Jun — Winter
Nevertheless, the year-to-date price picture has been solid, still rising above that of 2015. In 2015, the average sales price was $569,364 and the median was $450,995. Through this October, the single-family average and median prices were $574,781 and $463,000, down about $4,000 from the mid-summer. This average price was up by less than 1%, but the median rose by 2.7% from 2015, so the appreciation rate is slowing. At this point, the average is below the record annual peak for 2014 ($576,205), but the median is above that figure ($460,000). With short-term interest rates slated to rise and 10-year bonds moving up recently, that could have an effect on future appreciation.
housing statistics Condominiums and Cooperatives
The County condominium and cooperative unit sales market continues to perform better than the single-family market; and, its price performance is better as well. Through October, year-to-date settlements (2,560) were up 7.5% from the same period in 2015; and, year-to-date contracts (2,688) rose almost 6% from a year before. However, October monthly performance was mixed. Settlements (238) declined nearly 2% from a year before; but, monthly contracts (274) increased by almost 4%. Condo/Coop Contracts and Settlements 10/15 - 10/16 Condo/Coop Contracts and Settlements 10/15 - 10/16
$335,000 $315,000 $295,000 $275,000 $255,000 $235,000 $215,000 $195,000 $175,000
400 350 300 250 200 150 100 50 0
Washington, DC Sales Market
Condo/coop inventory performance has been better relative to the single-family market. October total actives (670) were down over 8% from the level of a year ago; and, monthly new listings (293) dropped by 17% from October 2015. This was worse than the mid-summer performance. Based on the October contracts rate, there was a 2.4-months’ supply of listings. For most of 2016, inventory has had trouble breaking the 2.5-month barrier. This most recent figure is consistent with the rates for spring and summer. Condo/Coop Listings and Inventory 10/15 - 10/16 Condo/Coop Listings and Inventory 10/15 - 10/16
800 700 600 500 400 300 200 100 0
Montgomery County Condo/Coop - 10/2016 Montgomery County Condo/Coop Prices:Prices: 2007 -2007 10/2016
Looking at the big picture, the District of Columbia’s October market (single-family and condo/coops) slipped a bit from a year ago. The total dollar volume of over $409 million was down 3.4% from October 2015. Accordingly, total closed sales came in at 630 units and they were down 2.2%. Furthermore, the October average sold price of $649,279 slipped 1.3%; but, the monthly median sold price of $543,000 rose 5.6% from a year before. As in the summer, properties turned over more slowly. The average 36 days on the market were up 5.9% from last October. The median figure of only 12 days was also up by 9.1%.
Single-Family Homes The Washington, DC single-family
market through October has been solid in both sales and prices. Year-to-date settlements (3,639) increased by 4.3% and contracts (3,935) rose 2.6% from a year before. However, on a monthly basis, the October results were mixed. October new settlements (315) dropped by 10.3%. But, new monthly contracts (474) grew just under 1%.a year before. Single-Family Contracts and Settlements 10/15 - 10/16 Single-Family and Settlements 7/15 - 7/16 Single-FamilyContracts Contracts and Settlements 10/15 - 10/16 600 600 500 500
Price performance in the condo-coop market has continued to stay positive. Through October, the average price of $283,458 increased by 2.9% from that of 2015. Also, the median of $228,000 rose by almost 2.8%. This is a lower rate than in the summer months. By mid-summer, the higher priced units seemed to be appreciating at a slightly faster rate, but both have leveled off in the 2.7% to 2.9% range. In 2015, the yearly average price ($275,456) was up 3.4%; while the median ($221,900) slipped by about 0.5% from 2014.
400 400 300 300 200 200 100 100 00
JO AN S D O J N F D M J A F M M J A J M A J SJ O Contracts Settlements Contracts Settlements
October single-family inventory is higher than it has been all year. However, it has slipped from where it was a year ago. Through October, active listings totaled 724 homes, and they were down 4.4%
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 27
housing statistics Condo/Coop Contracts and Settlements - 10/16 Condo/Coop Contracts and Settlements 10/15 10/15 - 10/16
MONTGOMERY COUNTY & DC
from last October. The monthly figures showed 517 new listings, and these have dropped almost 15%. Given the October contracts pace, there was only about a 1.5-months’ supply, slightly below the pace earlier this year and for 2015. There has been a consistent upward trend in inventory. By the end of 2015, the active listing inventory totaled about 550 properties, 6% above December 2014. Single-Family Listings and Inventory 7/15 -7/16
Single-Family Listings and Inventory 10/15 - 10/16
800 800 700 700 600 600 500 500 400 400 300 300 200 200 100 100 0 0
300 200 100 0
J F M Contracts
A M J J Settlements
Condo/Coop Listings and Inventory 7/15 - 7/16
Condo/Coop Listings and Inventory 10/15 - 10/16
1000 1000 750 750 J O
D M Listings Listings
The tight inventory has served sellers well. Earlier in the year, single-family prices appeared to have peaked in 2015. However, 2016 year-to-date prices are still climbing. Through October, the single-family average and median prices were $799,108 and $675,000, respectively. These were up 1.7% and 2% from all of 2015 (In 2015, the average price was $785,682 and the median was $661,750). While the rate of appreciation has slowed from 2014 to 2015, these rates are still solid given our low inflation environment. District of Columbia Single-Family Prices: 2007 - 10/2016 District of Columbia Single-Family Prices: 2007 - 10/2016 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 Oct-16 Average Median
Condominiums and Cooperatives
Year-to-date, the District of Columbia condominium and cooperative market has shown continuing positive unit sales and increasing prices. Through October, 3,511 settlements rose almost
® CAPITAL AREA AREA REALTOR 2014 2016 28 CAPITAL REALTOR•®May/Jun — Winter
500 500 250 250 0 0 J A S O N D
6% above the pace for the same period in 2015. Similarly, year-todate contracts (3,675) were nearly 3% above a year before. On the other hand, the monthly figures were mixed. October monthly settlements (315) rose 6.8%; however, monthly contracts (348) declined just over 3% from October 2015. On the supply side, inventory was below May’s level, but it was the second highest this year. Through October, the 747 total actives were 2.4% below those of a year before. And, for the month of October there were only 464 new listings – down a double-digit 12%. However, supply is up relative to the October contracts pace. At the end of October there was about a 2.2-months’ supply of properties. This is up just a bit from the summer, but the inventory drought continues. Accordingly, prices are still on a slightly upward trajectory. The listings supply has been relatively tight, contributing to the rise in property prices. Through October, the average priced condominium and coop unit sold for $498,116 and that is up almost 1.5% from the 2015 levels. The news is even better for the mid-priced units. Median prices ($449,000) through October rose 3.2% from the 2015 figure. This figure was higher than in the middle of the summer. If the recent trend continues, 2016 condo/coop prices will surpass the previous peaks of 2015.
National Resale Market Through September, total existing
District of Columbia Condo/Coop Prices: 2007 - 10/2016
District of Columbia Condo/Coop Prices: 2007 - 7/2016 home sales (single-family and condominiums and cooperatives) $525,000 came in at 5.47 million units at a seasonally adjusted and annu- $525,000 $500,000 alized rate (SAAR). These figures were up 3.2% from the August $500,000 $475,000 rate, but only 0.6% from the September 2015 rate. This September,$475,000 $450,000 the median price came in at $234,200 and the mean was $276,200.$450,000 Compared to a year earlier, the median increased 5.6% and the $425,000 $425,000 average rose 4.2%. These most recent figures continue the positive $400,000 $400,000 trend in national housing prices that started after the economic $375,000 $375,000 recovery.
$350,000 $350,000 $325,000 As observed throughout the year, the national market is still $325,000 dealing with inventory shortages. At the end of September there $300,000 $300,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 Oct-16 was a 4.5-months’ supply of all homes. The national resale invento2007 2008 2009 2010 2011 2012 2013 2014 2015 Jul-16 Average Median Average Median ry was 2.04 million properties. However, a year before it was 2.19
million, so we are still down about 6.8% from a year ago. It is still not definite what is causing the slower turnover, whether it is the low equity – high debt problem of younger households, or aging of the population with fewer moves necessitated by job changes.
Economic Growth and Jobs The initial third quarter real GDP
growth number was a breath of fresh air after two humdrum quarters. The Bureau of Economic Analysis’ advance estimate for the third quarter real GDP (economic growth rate minus the inflation rate) showed that it increased at a more robust 2.9% rate. The second quarter rate was only 1.4%. For all of 2015, real GDP increased 2.4%, so we still look weak so far this year. Nevertheless, this more comforting rate will help to give the Fed some permission to raise the Fed Funds rate in December. Most economists still worry about the possibility of a recession in the next couple of years, but with growth rates as low as these have been, we may be in a cycle where the economy has more juice left. Also, there are slowing growth rates in China and many Chinese are moving funds out of the country, an ominous sign. Our product and service sales to China are only about 5% of our GDP, but a large financial meltdown in China would impact the world. European growth is still slow and it doesn’t seem like the negative interest rates policy is working very well. Recently the demand for U.S. bonds seems to be slipping, although the stock market has been moving up following the election. A good sign is that the labor market seems to be holding firm, if not improving. In October, total nonfarm payroll employment rose by 161,000 jobs. The overall unemployment rate from the household survey was unchanged from 4.9%. Employment continues to rise in health care, professional and business services, and financial activities. Furthermore, output productivity in the nonfarm business sector rose at a 3.1% rate in the third quarter and hours worked increased as well. Recent studies showing that household incomes for the middle-class are rising have provided more positive news. Tightness in the labor market is translating into higher wages and salaries.
Monetary Policy, Interest Rates and Inflation Since the Fed has been dancing around raising rates for almost a year,
it is likely that they will raise the Fed Funds target rate at the December meeting. While there are still substantial numbers of underemployed workers, and growth is projected to be slow, recent upward moves in longer-term rates suggest they can move the Fed Funds rate up without a lot of complaints. Furthermore, the Fed has been hinting at a rise this year and December is their last dance. Although inflation is not high, many board members will want to get an early jump on restraining it. For the longer run, President-Elect Trump has suggested both future tax cuts and more infrastructure spending. We’ve seen this movie before. Such an expansionary fiscal policy is likely to generate deficits, debt, and inflation down the line, and the Fed should be fearful.
For September, overall consumer price inflation (CPI) rose at a 1.5% rate compared to a year before. Again, the figures were primarily due to declines in energy costs, used car and truck prices, and apparel and food costs. When food and energy prices were subtracted out, the residual “core” consumer inflation came in at 2.2%, which has been a consistent measure over the past nine months. However, looking at the Fed’s preferred inflation measure, the personal consumption expenditures index (PCEI) registered a “core” increase of 1.7% with the overall at only 1.2% in September. While these are below 2%, it is likely that recent upward moves in market interest rates and internal policy preferences of members of the Fed board will cause it to raise the Fed Funds rate by 25 basis points. Earlier this year, international financial policies have helped keep mortgage rates low; however, recently bond demand has slackened and longer-term securities rates have risen. With expectations that interest rates and inflation will rise and that there will be a shift in U.S. priorities de-emphasizing globalization policies, demand has started shifting out of bonds. Some analysts attributed this to the election of Donald Trump. However, it may be a short-term phenomenon as President-Elect Trump’s policy preferences are still a bit opaque. Into the second week of November, the Freddie Mac survey rates were: 30-year fixed conforming mortgages at 3.57%; the 15-year fixed averaged 2.88%; and, the 5/1-year ARM was at 2.88%. However, at this writing in mid-November, current mortgage . . . continued on page 31
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 29
By Chris Darby, Tom Muldoon, and John Nalls of Counselors Title, LLC, and Pardo & Drazin, LLC, General Counsel QUESTION: The deed for the property I am selling is vested in a husband and wife with a life estate to occupy the property with a remainder to their children as Joint Tenants. One life tenant and one joint tenant have died. Who owns the property? ANSWER: For the purposes of the sale of the property both the life tenant, who has the right to occupy the property during their lifetime, and the remaining joint tenant will need to execute the deed to relinquish any right, title, and interest in the property. If the property were not being sold, the surviving life tenant would have the right to occupy the property for the remainder of their life. Upon the surviving life tenant’s death, the property would be owned solely by the surviving joint tenant due to the concept of the Right of Survivorship, which provides that if any one of the joint tenants dies, the remainder of the property is transferred to the surviving joint tenants, or joint tenant in this case.
® CAPITAL AREA AREA REALTOR 2014 2016 30 CAPITAL REALTOR•®May/Jun — Winter
QUESTION: I represent a District of Columbia co-op owner who was allowed to rent her unit for one more year, which she did. Does TOPA apply to her sale of the co-op interest? ANSWER: Yes. Under Section 42-3401.03(11) of the Rental Housing Conversion and Sale Act of 1980 (commonly referred to as “TOPA”), a “Housing accommodation” or “accommodation” means a structure in the District of Columbia containing one or more rental units and the appurtenant land. The term does not include a hotel, motel, or other structure used primarily for transient occupancy and in which at least 60 percent of the rooms devoted to living quarters for tenants or guests are used for transient occupancy if the owner or other person or entity entitled to receive rents is subject to the sales tax imposed by § 47-2001(n)(1)(C) and the occupant of the rental unit has been in occupancy for less than 15 days. A rented unit in a cooperative would not be exempt and TOPA would apply.
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
QUESTION: I have a situation where the Buyer has voided the Contract pursuant to the Home Inspection Contingency, but the Seller refuses to sign a release. What can I do? ANSWER: Assuming the Buyer provided Notice under the unilateral right contained in our Home Inspection Contingency, the Contract is void. The Contract is very clear on this point (or in any other instance where the Contract has become void). The Seller has agreed to execute a release and should do so immediately; failure to do so could result in damages and Seller responsibility for Buyer attorney fees and court costs. See GCAAR Contract of Sale pertinent provisions below: 33. VOID CONTRACT: If this Contract becomes void and of no further
force and effect, without Default by either party, both parties will immediately execute a Release directing that the Deposit be refund- ed in full to Buyer according to the terms of the DEPOSIT paragraph.
Phone: (202) 686-0100
referred to in the Condo Docs Paragraph to cancel this Contract by giving Notice thereof to Seller. In the event that such condominium documents and statements are delivered Buyer on or prior to the ratification of this Contract by Buyer, such three (3) business day period shall commence upon ratification of this Contract. If the condominium documents and statements are not delivered to Buyer within the 10 business day time period referred to in the Condo Docs Paragraph, Buyer shall have the option to cancel this Contract by giving Notice thereof to Seller prior to receipt by Buyer of such condominium documents and statements. Pursuant to the provisions of this paragraph, in no event may the Buyer have the right to cancel this Contract after Settlement.” QUESTION: May I pay a referral fee in Maryland to an unlicensed individual for referring a client to me?
ANSWER: No. Under § 17-604 of the Business and Occupations Article of the Annotated Code of Maryland: “Paying compensa23. LEGAL EXPENSES: A. In any action or proceeding between Buyer and tion (a) In general. -- Except as provided in subsection (b) of this Seller based, in whole or in part, upon the performance or non-per section, a real estate broker, an associate real estate broker, or a formance of the terms and conditions of this Contract, including but real estate salesperson may not pay compensation, in any form, not limited to, breach of contract, negligence, misrepresentation or for the provision of real estate brokerage services to any person fraud, the prevailing party in such action or proceeding shall be who is not licensed under this title.” A referral fee would constitute entitled to receive reasonable Legal Expenses from the other party as providing compensation for real estate brokerage services and determined by the Court or arbitrator. thus is prohibited to unless the person is licensed or meets one of the recognized exceptions. QUESTION: I cannot find the number of days a buyer has to review the condominium resale documents in the Washington, DC Jurisdictional Addendum? Disclaimer: The answers provided here are the opinions of the authors, are ANSWER: The Condominium Seller Disclosure/Resale Addendum for the District of Columbia (GCAAR #921) sets out a buyer’s “Right to Cancel” in Part II, Paragraph 5. The Paragraph states “Buyer shall have the right for a period of three (3) business days following Buyer’s receipt of the condominium documents and statements
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.
. . . continued from page 29
quotes have the best financing rates at 3.77% for 30-year, 15-year at 3.03%, and 5/1 ARMs at 3.12%. These are up around 20 basis points from the surveys a weak ago. Some buyers will need to make some hard choices this week. With the Fed likely to push up more on the short-end of the yield curve, if bond prices continue to weaken, we could see 4% long-term financing in the very near future.
The Bottom Line Year-to-date, Montgomery County and the
District of Columbia year-to-date unit sales and prices have been up solidly for both single-family and condo/coop properties. However, the rate of price increase is flattening out, especially for single-family properties. Nevertheless, there will likely be new price records for Washington, DC properties and Montgomery County condo/coops.
The election of Donald Trump may cause some shifts in preferred assets, away from international stocks and companies that have profited heavily from the global trade. Financial troubles in China, and a financial drain of almost $1 billion a year leaving the country, suggest future problems. The U.S. will benefit from some of these moves and they will positively impact investment in the U.S. The most recent GDP growth estimates are still around the 2% mark, with a few brave forecasters thinking of a rise to 2.2% or 2.3% once Trump’s program gets going. Nevertheless, the possibility of a global recession, in the next year or so, continues to torment the minds of policy makers. And, it is difficult to determine how Trump’s policies will affect growth in Mexico, Canada, and Europe.
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 31
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GCAAR in the news Here’s What Your Real Estate Agent May Not Tell You About Ethics The Washington Post December 12, 2016 – GCAAR Instructor Dana Hollish Hill quoted
August Home Sales in Montgomery County Reach Highest Level in 10 Years BethesdaMagazine.com September 14, 2016 – GCAAR stats highlighted
Does a Trump Sign in a Liberal Neighborhood Make It Harder to Sell a House? One Homeowner’s Quest The Washington Post October 25, 2016 – GCAAR President Peg Mancuso quoted Government-loving Montgomery County Seems Poised to Adopt Term Limits The Washington Post October 23, 2016 – GCAAR VP of Public Policy Ed Krauze quoted
GCAAR Welcomes New Emeritus Members! The National Association of REALTORS® Emeritus status is given to those REALTORS® who have 40 years of membership in the national organization. GCAAR is proud to congratulate the following members who have reached Emeritus status: Patrick Casey
CELEBRATING 40 YEARS
James Galey Ricki Gerger George Gnall Gay Horney Wilson Kidwell R. Sterling Mehring Lois Robins Jeffrey Vinson
CAPITAL AREA REALTOR® • May/Jun 2014 CAPITAL AREA REALTOR ® — Winter 2016 33
CAUSES AND CURES For Common Home Maintenance Problems
REALTOR Toolbox ®
Decode the sensory clues to your home maintenance problems
YOUR HOUSE SOMETIMES ACTS AS IF IT’S ALIVE —
making strange sounds, emitting odd odors, and giving visual cues that say something might be amiss. Here’s how to interpret what your house is trying to tell you, and how to recognize the early warnings of common home maintenance problems that are easily solved if caught early:
34 CAPITAL AREA REALTOR ® — Winter 2016
5 A TOI LE T TAN K T HAT RE FI LLS O N I T S O W N Cause: Worn interior parts may be causing
1 PE E LI N G E X T ERIOR PAINT
3 RUST LI N G I N A WALL
Cause: Moisture is probably getting under-
Cause: Sure, termites usually signal their
neath the paint, perhaps from a leaking gutter overhead or from a steamy bathroom on the other side of the wall.
presence by building pencil-thick mud tubes up from the ground or by swarming from pinholes in floors or walls. But did you know it’s also possible to detect them by sound? Tap on a wall and then press an ear against it. If you hear a rustling sound, it could be termites. A sound like crinkling cellophane could mean carpenter ants.
Cure: If you catch the problem right away, you might just need to address the moisture issue and then scrape off the loose paint, prime bare spots, and repaint that wall, for a total of a few hundred to a couple thousand dollars. Delay too long and the siding might rot. Patching and repainting the whole house could cost $10,000.
Cure: Call a pest-control professional. Cost is $65 to $100 for an inspection.
water to trickle through the toilet constantly, causing the water level in the tank to lower and eventually triggering the refill mechanism. A leaky toilet potentially wastes 1,500 gallons a month.
Cure: Untangle or loosen the chain — it may be too tight and preventing the flapper from seating fully, letting water leak out the flush valve. Or, try bending the tube connected to the float ball. If those don’t work, replace the valve and flapper inside the toilet tank (under $25 if you do it yourself, and a little more if you upgrade to a water-saving dualflush valve).
To prevent a chronically steamy bathroom, install a new ventilation fan with a humidity-sensing switch that automatically exhausts moisture-laden air. Cost is about $250.
4 LOU D K NOCK I N G 2 F LI CKE RI N G L I G HT S Cause: If only a single bulb flickers, it might be loose in its socket or in need of replacement. If lights always dim when the refrigerator or other appliance turns on, the circuit might be overloaded. If groups of lights flicker, connections at the electrical panel or elsewhere might be loose, causing power to arc — or jump — over the gaps. Arcing is a serious problem; it starts fires.
Cure: Anyone can tighten a bulb. Handy homeowners can shut off circuits and tighten loose connections within switch boxes. If you’re not comfortable doing that, or if you suspect an overloaded circuit or loose connection at the panel box, call in a licensed electrician. You’ll pay $150 to $250 for a new circuit, and $500 to $700 for a new electrical panel — way less than what you’d spend to recover from a fire.
Cause: If the knocking occurs when you turn off water, you have “water hammer,” caused when fast-moving water comes to a sudden stop and there is no air chamber (a short, specially designed piece of pipe) to cushion the shock wave. If knocking occurs when your furnace switches on or off, metal ducts are expanding or contracting as temperature changes.
Cure: If water pipes are the issue and there is an air chamber near the faucet, it may be filled with water and needs to be drained. You might be able to do this yourself. If you’re not confident tackling that or if there is no chamber, call a plumber ($65 an hour) to add one. Those snapping ducts? Just get used to them. There’s usually no cause for concern.
6 C RE AK S AN D GROA NS Cause: All houses creak and groan a little as parts expand and contract with temperature fluctuations and with changes in levels of humidity.
Cure: But don’t ignore really loud groans when there’s been an unusual amount of snow or rain, especially if your house has a flat roof. There may be an excessive or even dangerous amount of weight on your roof. If you suspect that may be the case, be prudent: Get everyone out of the house and call in a professional to check the roof.
Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the National Association of REALTORS®
What is your house really telling you? CAPITAL AREA REALTOR ® — Winter 2016 35
Beta Solutions F&BC Kevin Matthews 301-787-0782
Curtin Law Roberson Dunigan Thomas Dunigan 202-530-3300
Home Staging Vivian Gilbert
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
Shulman Rogers Gandal Pordy Matthew Alegi 301-230-5200 Amy Klein 301-230-5200 Marc Lipman 301-230-5200 Law Offices of Jill Pogach Michaels Owen Jarvis 240-425-0008 Jill Michaels 240-425-0008 Ben Silver 240-425-0008
Jackson & Campbell PC Roy Kaufmann 202-457-6710
The Sacks Law Firm PLLC Michael Sacks 301-948-2300
Jacobs & Associates Harvey Jacobs 301-300-6252
Vaughn W. Royal Attorney at Law Vaughn Royal 202-895-1530
Agent Services Agent Photos John Brueske
Weichert Referral Atusa Salvidio 973-605-1600
Anne M. Powell Appraisals Anne Powell 410-721-7505 Appraisals Xpress Inc. Jeffery Chen 301-385-9669 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 301-428-0113 J. Hansen Appraisal Assocs. LLC John Hansen 301-464-2878 James Blaine Miller Jr. James Miller Jr. 301-933-9881 Kevin Gowen Kevin Gowen
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 Atty at Law Andrew FitzGerald 301-933-6550 Bregman Berbert Schwartz Gilday LLC Wendy Pullano 301-656-2707 Britton PLLC Lisa Britton
36 CAPITAL AREA REALTOR ® — Winter 2016
Bromberg Rosenthal Jonathan Bromberg 301-251-6200
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
Law Office of Mark A. Bayer Mark Bayer 202-466-4747 Law Office of Arthur Konopka Arthur Konopka 202-686-0600 Law Office of Robert McCarthy Robert McCarthy 301-654-3730 Law Offices of David P Modell David P Modell 301-634-9820 Law Offices of Michael Frissel/Wolf Title Michael Frissell 301-951-0940 Law Offices of Quinn O’Connell Jr. Quinn O’Connell Jr. 202-537-1820 Lynn Candle Boynton Esq. Lynn Boynton 240-499-7465 Miles & Stockbridge PC Casey Cirner 301-762-1600 Moses & Aiken Robert Moses
Paley Rothman Katherine Palumbo 301-951-9362 Richard W. Lawlor PA Richard Lawlor 301-340-2400 Samuelson Law Offices LLC Kenneth Samuelson 202-494-0848
Shaner & Helf LLC Thomas Helf 301-913-9306
Home Inspection Companies
United One Resources Michael McNamara 443-864-1150 Old Republic Home Protection Terry Crawford 925-866-1500
Holman & Associates Keith Holman 202-246-6834 Linda Holman 202-246-6834 Thomas Holman 202-246-6834 JCAMS Jimmy Cullum
MD Dept of Housing & Community Development William Ariano Jr. 410-514-7014
Capital Area REALTORS® FCU
Orchard Development Corporation Robert DeSantis 410-964-2334
Rent the District Hanna McClain
Tony Launi Olympia Overton
Floormax Rafie Ansari Darren Holder Masoud Molayem
301-206-2200 301-206-2200 301-206-2200
Home Inspection Companies
1st American Home Inspections LLC Henry Toman 443-388-2410 Alban Home Inspection Svcs. Inc. Virginia Sulcer 301-662-6565 Anderson Inspection Consultants Inc. Gary Anderson 301-855-3337 Building Inspector of America Vimal Kapoor 301-916-0300 Green Home Solutions of MD Jennifer Sherwood 301-591-2470 Home Land Septic Consulting Eric Garrett 443-995-5385 Tim Shotzberger 443-995-5385 Mid-Atlantic Inspection Srvcs. Alan Beal 202-607-4153 Pearl Certification 888-557-5543 Pillar to Post Montgomery County Rocky Banks 301-455-5994 ProTec Inspection Services Heather Dice 301-972-8531 Michelle Hopkin 301-972-8531 Robert Hopkin 301-972-8531
Combined Insurance Company Anthony Forde 765-983-6172 Duffy Insurance Group Joe Duffy 301-384-5000 Mike Duffy 301-384-5000 Pearl Insurance Deborah Bindeman 800-455-1154
Miscellaneous Moneycorp Spencer Holmes
Academy Mortgage Corporation Raymond Shelton 571-225-5066 Annie Mac Home Mortgage John White, Jr. 866-312-6682 Apex Home Loan Erin Finke 301-610-9600 Larry Finkelberg 301-610-9600 Michael Parsons 301-610-9600 Brian Willingham 301-610-9600 BB & T Mortgage Mike Kidwell 301-590-2369 Kari Sansom 301-493-8361 Daniel Shea 301-493-8917 Patricia Widerman 301-590-2382 Caliber Home Loans Jamica Browne 301-660-3292 Charles Clapper 301-660-3292
GCAAR now brings you a complete listing of our Affiliates in every issue.
AFFILIATES Mortgage Companies
Caliber Home Loans Robert Kirchner 301-660-3292 Jason Turner 301-660-3292 Corridor Mortgage Group Inc. Sara Lenes 301-443-5749 Natalie Winter 301-443-5749 EagleBank Corp. Thomas Biegler 202-292-1581 Deborah Levy 202-292-1581
Embrace Home Loans Adriana Clapper 301-921-0070 Tina Del Casale 301-921-0070 William Rozek 301-921-0070 Fidelis Mortgage Eric Rittmeyer 410-668-6501 Fidelity Direct Mortgage Syed Ahmad 301-869-6000 William Benner 301-869-6000 First Home Mortgage Brooke Lowry 202-448-0880 Dominic Turano 202-448-0880 Nicolas Matsangakis 301-657-1003 David Toaff 301-657-1003 Ryan Angier 301-656-4388 Zachary Bodine 301-656-4388 Scott Story 301-656-4388 Kevin Walsh 301-656-4388 Timothy Whittier 301-656-4388 Christopher Jordan 301-562-9540 Travis Vollmerhausen 301-562-9540 Jacob Ryon 301-220-0999 First Savings Mortgage Deborah Benkert 240-223-1558 J. D. Teitelman 703-564-1746 First Washington Mortgage Chanin Wisler 301-526-0020 FitzGerald Financial Group and Monarch Group Evelyn Miller 240-403-1868 L. William Woods Jr. 240-403-1868 Home Savings & Trust Mortgage Derek Harman 703-766-4634 Homesnap Stephanie Rall
Intercoastal Mortgage Co Alexander Norcini 571-298-8166 McLean Mortgage Corp. Alex Peters 240-800-4502 Movement Mortgage Maria Clark 410-740-5250 Michelle Mathews 410-740-5250 Kimberly Smrek 410-740-5250
Mortgage Companies MVB Mortgage Chris Kearney Billy Kinberg Robert Ross
202-751-2146 202-751-2146 202-751-2146
Prospect Mortgage Cedric Johnson 540-882-4176
Real Estate Investment
TL Caldwell Homes LLC Terry Caldwell 202-286-4389
Exchange Solutions Group LLC William Gessner 703-787-3893
Tax-Masters Inc. Prosperity Home Mortgage LLC Linda de Marlor 301-230-0200 Romy Espino 301-838-3172 Brian Haug 301-838-3172 Tom O’Keefe 301-838-3172 Title Insurance/Settlement Sandy Spring Bank Jeffrey Nelson 301-617-4233 Guy Silas 301-617-4233 Kenneth Storck 301-617-4233 SunTrust Mortgage Jordan Giles 301-961-0903 C. J. Kemp 301-961-0901 Russell Rothstein 301-961-0903 Kelly Wadsworth 410-897-6406 Tidewater Mortgage Services Jesica Sandler 571-297-3981 Max Sandler 571-297-3981 Wells Fargo Home Mortgage Pat Bowman 301-956-1573 Patricia Gillis 301-956-1573 Paul Nowacek 301-956-1573 Thomas Schultz 703-760-6220 Wells Fargo Private Mortgage James Semeyn 410-573-6411
Interstate Moving & Storage Pauline Dent 703-226-3220 Perry Moving & Storage Alvin Lewis 410-799-0022 123 Junk Kevin Wheeler
Pest Control Companies
Capitol Termite & Pest Control Nelson Borda 301-657-4480 Julio Gonzalez 301-657-4480 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
Realty Exchange Corporation William Horan 703-754-9411
Atlantic Closing & Escrow Isadora Connor 202-730-2635 Tommy Craddock 202-730-2635 Sam Houston 202-730-2635 Avenue Settlement Corporation Stephen Ballard 202-296-4500 Avenue Title Group David Helfrich 202-296-4500 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 CLA Title & Escrow John Coester 888-929-6000 Matt Landsberg 888-929-6000 Joel Steinberg 888-929-6000
Fenton Title Co. Louis Pettey
Title Insurance/Settlement Companies First Class Title Inc. Daniel Kotz 301-770-4107 Flynn Title Gregory Flynn
GPN Title Inc. Jessica Chipoco George Glekas
Hutton Patt Title John Hutton
Lakeforest Title & Escrow Co. Marc Malakoff 301-590-0500 Logan Title Patrick Tangney
M Title Maria Deligiorgis
Main Street Settlements Inc. John Ferguson 301-570-3600 MBH Settlement Group LLC Jill Messier 703-277-6800 Michaels Title & Escrow LLC Jill Pogach Michaels 240-425-0008
Mid-Atlantic Settlement Services Deirdre Brown 410-252-1208 William Burkart 410-252-1208 Classic Settlements Peter Parente 410-252-1208 Joe Detrick 301-921-2667 Joseph Russo 410-252-1208 Jonathan Levy 301-921-2667 Monarch Title Inc. Mary Papagjika 301-921-2667 Katherine Brewer 202-546-3100 Closeline Settlements LLC Moses & Aiken /Home Team Title Elliot Liss 301-622-6000 Robert Moses 301-468-0080 Confidence Title & Escrow New World Title & Escrow Vittorio Muzzatti 301-740-1880 Andrew DiPaola 703-691-4330 Counselors Title LLC Morgan Swersey 703-691-4330 Christopher Darby 202-686-0100 Marie Enderle 202-686-0100 North American Title Company James Griffin 202-686-0100 Janelle Gaughan 202-237-8222 Thomas Muldoon 202-686-0100 Palisades Title Company Timothy Mullin 202-686-0100 Steven Buckman 202-351-6100 John Nalls 202-686-0100 Noreen Hathaway 301-670-0100 Paragon Title & Escrow Co. Robert Kuczarski 301-670-0100 Philip Raskin 301-986-1114 Colleen Smyth Cogan 301-670-0100 Randy Rothstein 301-986-1114 Rob Rothstein 301-986-1114 District Title A Corp. Brendon Sheperd 202-518-9300 Marc Sushner 202-518-9300 Steven Sushner 202-518-9300 Clarke Title Henry Clarke
Federal Title & Escrow Co. Todd Ewing 202-362-1500
continued on page 38
CAPITAL AREA REALTOR ® — Winter 2016 37
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Title Insurance/Settlement Companies Pinnacle Settlement Services Scott Goldschein 866-441-4666 Pinnacle Title & Escrow Inc. David Maged 301-424-5400 Marci Maged 301-332-6303 Marie Daugherty 301-424-5400 Bari Solomon Siegel 301-424-5400 Pride Settlement & Escrow LLC Jay Brody 888-729-0145 Pride Settlement & Escrow LLC D. Leigh Hewartson 888-729-0145 Lee Anne Rodriguez 888-729-0145 RGS Title LLC Suzanne Feinstein Thomas Rodden Helen Dankos
301-230-0700 301-680-0200 301-230-0700
RGS Title/Tradition Title Anthony DeVol 301-654-9800 Sage Title Group LLC Bobby Lee Joseph Hansen
Settlement Ink P. Joy Siegel 301-907-8808 Settlement Professionals Carol Calomiris 202-363-1870 Settlement Corp. David Deckelbaum
Standard Title Group Kevin Anderson 202-888-0132 Stewart Title Group Dale Baker R. Bradley Runyan Christopher Saabye
202-349-0220 202-349-0220 202-349-0220
Title Town Settlements Todd Greenbaum 301-580-2850 Village Settlements Inc. David Hahn 301-486-0799 Carey Brennan 301-590-9300 Leslie Childs 301-590-9300 Michael Hollman 301-590-9300 As of December 8, 2016
If you are interested in becoming a GCAAR Affiliate or have a correction to this list, please contact us at: email@example.com
38 CAPITAL AREA REALTOR ® — Winter 2016
Member Services Manager, Jackie Morgan.
Did You Know? Our Member Services Department is open on most Saturdays from 10 a.m. – 3 p.m. (with the exception of holiday weekends) for your convenience. Stop by and take care of any member-related services you may need to keep your real estate business running smoothly.
New features from SentriLock SENTRISMART™ AGENT SAFETY FEATURE NOW AVAILABLE The new SentriSmart™Agent Safety feature checks on your safety throughout a showing and also provides a “Send Alert” capability that you can use to initiate a message if you need it. Agent Safety is an opt-in service and you can turn it on in a few easy steps from your Settings Menu in SentriSmart™. MESSAGE CENTER SentriLock has created a place to find all of your communications in one location at your fingertips. Here are some things you can find:
• Showing Notifications
• Low Battery Notifications
• Agent Fee Bill Notices
• Event Surveys
• Showing Feedback Survey
• One Day Codes
• Tsa Invites
FORGOT YOUR PASSWORD? THERE’S HELP SentriLock has made it easier for you to change your PIN and/or password right in the SentriSmart App. You can create a new one in a few easy steps:
In the Settings Menu select Change PIN or Change Password and complete the verification process. It’s that easy. You no longer need to contact your association or someone else; we’ve put it all at your fingertips. FOR QUESTIONS ABOUT SENTRILOCK SERVICE – Call SentriLock Support at (877) 736.8745 or send an e-mail to Support@SentriLock.com.
Stay connected at gcaar.com
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.
SEPTEMBER Syed Ahmad Fidelity Direct Mortgage NeAnna Ammerman-McLean Long & Foster Real Estate Marlene Amos TriStar Realty Armando Mayorga Arguello Long & Foster Real Estate Peyman Azizi Coldwell Banker Residential Kunjal Bandukwalla Long & Foster Real Estate Freda Barksdale Carrington Real Estate Services Alexander Barrett 38 Spatial Patrick Beasley Keller Williams Capital Properties Ingrid Benatti Long & Foster Real Estate William Benner Fidelity Direct Mortgage Elizabeth Millen Birch Evers & Co. Real Estate Michael Breton Weichert REALTORS® Deirdre Brown Mid-Atlantic Settlement Services Phyllis Brown Exit Realty Associates Renzy Bryant Keller Williams Realty Centre Christine Canaday Coldwell Banker Residential Jen-Jen Chen Coldwell Banker Residential Navid Corporan A-K Real Estate
Troy Criss Long & Foster Real Estate
Duraine Kouassi Long & Foster Real Estate
James Sotipalalit TriStar Realty
Paul Czuba Compass
Arlyn Leiva TriStar Realty
Maral Sukbaatar Coldwell Banker Residential
Julie Davis Redfin Corporation
Charles Lowe III Frontier Realty Group
Guillaume Tarralle Long & Foster Real Estate
Kelly Downing Coldwell Banker Residential
Renee Lynch RE/MAX Realty Centre
Cira Tellechea-Augerson RE/MAX Realty Centre
James Farrell Home Towne Real Estate
Mihir Mehta Union Plus Realty
Kevin Turner Home Towne Real Estate
Sally Ford Coldwell Banker Residential
Jose Chacon Molina Weichert REALTORS®
Grethel Valverde Platinum Realty
Brian Foster W C & A N Miller REALTORS®
LaVeeta Moten Keller Williams Realty
Alexandra Vasquez Craton Realty
Kenneth Goodin Long & Foster Real Estate
Tarek Mousa Senate Real Estate Services
Abebi Wolfe Gerlach Real Estate
Jorge Guzman Taylor Properties
Dennis Owen TTR Sotheby’s International Realty
Lei Zhu Union Plus Realty
Toni Halpert Weichert REALTORS®
Joann Pappalardo Coldwell Banker Residential
Theo Harding Keller Williams Capital Properties
Andre Perez District One Properties
Sara Hatfield Long & Foster Real Estate
Robert Quinn RE/MAX Realty Centre
Amir Head TriStar Realty
Mariah Rizzitello Long & Foster Real Estate
Nancy Hedayat Long & Foster Real Estate
Dennis Romero TriStar Realty
Jason Hernandez TriStar Realty
Jeremy Rubio Fairfax Realty
Claudia Homsi RE/MAX Distinctive Real Estate
Heather Sand Keller Williams Capital Properties
Jahangir Kabir Better Homes & Garden Real Estate Premiere
Bardia Sassanpour Spring Hill Real Estate
Karen Kelsey Keller Williams Capital Properties Max Koteen Long & Foster Real Estate
Brandon Scott Long & Foster Real Estate Rachael Sondak Keller Williams Capital Properties
Hassan Abuhashish Hometown Properties Edward Amatucci Weichert REALTORS® New Colony Jason Andrean Momentum Management Rafie Ansari Floormax Crystal Armstead RE/MAX Town Center Chiara Atoyebi Keller Williams Capital Properties Nicholas Bogardus RE/MAX Realty Centre Kristen Bracmort Long & Foster Real Estate April Brasher Sourceone Realty
CAPITAL AREA REALTOR ® — Winter 2016 39
NEW MEMBERS Randall Brown Urban Land Co
Kevin Fawley Keller Williams Capital Properties
Kelsen Job Keller Williams Capital Properties
Blair Nixon Keller Williams Realty Centre
Yenni Felix Fairfax Realty
Kate Kabe Long & Foster Real Estate
Alexander Norcini Intercoastal Mortgage Co
Jennifer Felix McWilliams/Ballard
Jeffrey Keller Real Living At Home
John Oneil Douglas Realty
Therese Fergo Long & Foster Real Estate
Karen Kelly Compass
Deneira Owens Keller Williams Capital Properties
Shelby Figaroore Jr. Keller Williams Capital Properties
Billy Kinberg MVB Mortgage
Debra Owens Camara & Company TREG
Allison Fitzpatrick Century 21 New Millennium
Monique King Exit Realty Enterprises
Sandip Pannu Weichert REALTORS®
Sabrina Butler Smart Realty
Lauri Fontaine Long & Foster Real Estate
Susan Kirn Donna Kerr Group
Walter Penn Sr. Home Buyers Marketing II
Dalila Campos Long & Foster Real Estate
John Frensilli Weichert REALTORS®
Ritchie Kwan Evergreen Properties
Darlene Petway Keller Williams Capital Properties
Patricia Carrer Keller Williams Capital Properties
Gregory Gaddis Long & Foster Real Estate
Saphronia Lang-Bradford Keller Williams Capital Properties
Clarence Pineda Coldwell Banker Residential
Lakisa Carter Independent Realty
Yury Garamyan Smart Realty
Ashley Lee Keller Williams Capital Properties
Talia Plotkin Coldwell Banker Residential
Talia Caviness Long & Foster Real Estate
Sandra Garlitz Coldwell Banker Residential
Randy LiVorsi Slate Properties
Laura Pope Keller Williams Capital Properties
Rong Cheng Taylor Properties
Wyatt Genser Keller Williams Realty Centre
Amber Madison RE/MAX Realty Centre
Christine Walter Colburn Weichert REALTORS®
Gale Greenwald Independent Realty
David Maged Pinnacle Title & Escrow
Carol Ramirez Berkshire Hathaway Home Services/PenFed Realty
Kathryn Colen Long & Foster Real Estate
Paula Hansborough Samson Properties
Alexandria McKenzie Redfin Corporation
Pinky Collie Keller Williams Capital Properties
Shane Hedges Long & Foster Real Estate
Mahsa Mirbod Weichert REALTORS®
Mariangela Compagnone Real Living At Home
Michael Hernon RE/MAX Enterprise
Masoud Molayem Floormax
Marcela Correa Real Living At Home
Darren Holder Floormax
Cherrie Montford Century 21 Trademark Realty
Jacqueline Dempster Long & Foster Real Estate
Spencer Holmes Moneycorp
Latoya Morris BSharper Real Estate
Red Drummond-Jackson Fairfax Realty
Walter Hunt III Keller Williams Realty Centre
Jackson Mosley Redfin Corporation
Alexandro Espinoza Redfin Corporation
Ntiense Inokon Keller Williams Realty Centre
Justin Moultrie Keller Williams Realty Centre
Ashley Evans A-K Real Estate
Ahmad Iravani Taylor Properties
Gerardo Muskus Coldwell Banker Residential
Karen Fairbanks Keller Williams Realty Centre
Ehsan Javadi Long & Foster Real Estate
Lionel Momeni Ngaleu Long & Foster Real Estate
Marvellicia Brown Keller Williams Capital Properties Alison Brown Urban Land Co. Edgardo Bunuan Keller Williams Capital Properties Gabrielle DeShong Burrow Keller Williams Realty Chantilly Ventures
40 CAPITAL AREA REALTOR ® — Winter 2016
Julio Rodriguez Allison James Estates & Homes Lawrence Rondon Stages Realty Elizabeth Russo City Chic Real Estate Jessica Sandler Tidewater Mortgage Services Max Sandler Tidewater Mortgage Services Isabella Schnider RE/MAX Realty Services Szuwen Shaposnyk Smartmax Realty Julia Shenk Keller Williams Capital Properties Bari Solomon Siegel Pinnacle Title & Escrow Michelle Simmons Redmond Realty & Consulting
NEW MEMBERS Jenice Simmons Taylor Properties
Julia Yale Long & Foster Real Estate
Christopher Harrell Jobin Real Estate Co.
Jeremy Rollings Berkshire Hathaway HomeServices
Ashish Sinha Realtyka
Muhammad Yaseen S 4 Realty
Brendan Hoover Keller Williams Capital Properties
Laurie Rosen Evers & Co. Real Estate
Mary Sophia Smith RE/MAX Leading Edge
Kevin Joseph Taylor Properties
James Roth Thomas D. Walsh
Kathryn Julian City Chic Real Estate
Araya Senshaw TriStar Realty
Olga Karsch Redfin Corporation
Erika Shepherd Long & Foster Real Estate
Toya Lay Redfin Corporation
May Shlash Coldwell Banker Residential
Kristina Leary RE/MAX Realty Centre
Jill Siegel TTR Sotheby’s International Realty
Justin Ledger W C & A N Miller REALTORS®
Molly Silvia Wydler Brothers
Susan Logue Coldwell Banker Residential
Navneet Singh Naaam Real Estate
Julie Lubin City Chic Real Estate
Shawn Stevens Century 21 New Millennium
Aliya Mack Long & Foster Real Estate
Shekinah Stevens Hana Associates
Carolina Medrano Fairfax Realty
John Strock Keller Williams Capital Properties
Sharon Miller W C & A N Miller REALTORS®
Justin Stuart W C & A N Miller REALTORS®
Mary Lynn Mullen Century 21 Redwood Realty
Nihal Subasi Long & Foster Real Estate
Benedict Mwaura Douglas Realty
Daniel Tucker Keller Williams Capital Properties
Enrique Nunez Keller Williams Capital Properties
Anthonia Ukaoma Exit Flagship Realty
Margaret Pastore Pearson Smith Realty
Steven Utley Keller Williams Preferred Properties
Brittany Payne Long & Foster Real Estate
Ashley Veith W C & A N Miller REALTORS®
Hannah Powell Central Properties
Shuchun Wang Long & Foster Real Estate
Wesley Reese Express Broker Realty
James Waskiewicz Weichert REALTORS®
Colleen Roberts Keller Williams Capital Properties
Joan Young Murrell REALTORS®
Tirmira Robinson Capital Metro Properties
As of November 23, 2016
Francesca Smoot TTR Sotheby’s International Realty Jennifer Snowden Long & Foster Real Estate Messan Sogbo TriStar Realty John Sommer McEnearney Associates Kelly Standen Long & Foster Real Estate Nathaniel P. Sweet Keller Williams Realty Centre Kokeb Tarekegn Taylor Properties Dianne Thorington Keller Williams Capital Properties Gloria Townsend W C & A N Miller REALTORS® Kenan Tukes Greenline Real Estate Marisol Vasquez Weichert REALTORS® Mary Angela Vasquez M. D. Hudson Real Estate Daniel Walcott Keller Williams Capital Properties Brian Weiss Compass Kevin Wheeler 123 Junk Kofi White Capital Park Realty Jamika Whitehead Long & Foster Real Estate Steven Wilson Keller Williams Realty Karisue Wyson McEnearney Associates Dereje Yadeta Taylor Properties
Philippe Beach-Evers Independent Realty Christine Berzak PN Hoffman Realty Richard Brown Rick Brown & Associates Jonathan Bobanie Browne Coldwell Banker Residential Lomy Chawla RE/MAX Platinum Realty Michael Donovan Chua Weichert REALTORS® Bonni D’Anna W C & A N Miller REALTORS® Muller Dessie Long & Foster Real Estate Tatjana Dimitrovska Weichert REALTORS® Frank Do Long & Foster Real Estate Kimberly Dorsey Long & Foster Real Estate Noree’najazzmine Dowtin Long & Foster Real Estate Kharye Dunlap Greenline Real Estate Charles Fant Jr. Century 21 New Millennium Christian Givens Naaam Real Estate Emmanuel Gonzalez Coldwell Banker Residential Michael Gunderman Long & Foster Real Estate Roya Hakimzadeh Long & Foster Real Estate Tiffany Hamilton Legacy Realty Melvin Hardy Coldwell Banker Residential
CAPITAL AREA REALTOR ® — Winter 2016 41
design trends WHAT’S COMING DOWN THE INTERIOR DESIGN PIPELINE THIS YEAR
BY ERICA REITMAN
Geometric Tiles Tiles seem to be getting bolder and bolder, and graphic geometric tiles are very much on the trend radar this year. We’re seeing these statement tiles used for kitchen backsplashes, in guest bathrooms and even in outdoor spaces in the form of cement tiles. They’re a great choice when you’re really looking for that wow factor. Photo by Alyssa Kirsten Photo by District Design
Hidden Wires The obsession with home design hacks lives on, and Pinterest predicts that 2016 will be all about hiding those wires. Concealing wires and cords is especially challenging with wall-mounted TVs and in home offices, which often serve as the hub for printers, computers, scanners and the like. But the trend is moving toward spaces in which you can’t see a single wire anywhere, and luckily there are lots of tips and tricks you can follow, many of which don’t require you making a hole in your walls.
Shades of Gray “Gunmetal is the new copper…” so embrace the grays. And not just lighter grays. Darker grays, like charcoal gray, are also very trendy and are showing up in a big way in home design. As gray grows in popularity, we see it showing up more as a paint color in living rooms, bedrooms and powder rooms. It’s a great option if you’ve been drawn to black but don’t quite want to make the leap. 42 CAPITAL AREA REALTOR ® — Winter 2016
N E W T RE N DS — YOU’ LL WAN T TO T RY I N E VE RY ROOM O F YOU R H O M E Source: hgtv.com – Search Design Trends
Work with a REALTOR® to help you find more HOME DÉCOR TRE NDS.
Neutral Color Palettes While tile and throw pillows are all moving toward the bold and graphic, calm neutral color palettes are also trending. There seems to be a movement back toward these understated, simple color schemes that manage to feel very classic and modern. Does this mean beige is back? According to Pinterest, we kinda think it is (and also white, gray, cream and brown).
Photo by Rustic White Photography
Photo by Cory Holland
Again, people are still loving space-saving hacks, especially in closets and kitchens. With an increase in small space living (and tiny house love!), it’s more important than ever to make use of every square inch in your home. If you want to get in on this trend, you might want to take a walk around your space and see if there are any upgrades you could focus on in the new year (i.e. pull-out drawers in cabinets, built-ins in closets, etc).
Capital Area REALTOR® Statement of Ownership (Required by USPS)
CAPITAL AREA REALTOR ® — Winter 2016 43
New York City’s Carnegie Hall Tower, designed by Cesar Pelli, is one of the slimmest buildings ever designed at only 50 feet wide and 60 stories high.
TRIVIA FINDS FACTS
Detroit’s five-story Gem Theater, built in 1927, was moved 1,850 feet (five blocks) to make way for
two new sports stadiums.
According to Feng Shui, the art of home placement, wood, fire, earth, metal, and water must be balanced to create a happy, prosperous home.
DID YOU KNOW? The Bellagio Hotel in Las Vegas, Nevada has more fountains than any other hotel in the world with more than 1,000 fountains embellishing an 11+ acre artificial lake.
El Pueblo de Nuestra Senora la Reina de los Angeles de la Porciuncula is the full name for Los Angeles, known as “L.A.”
44 CAPITAL AREA REALTOR ® — Winter 2016
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The Winter issue features the 2016 Distinguished Award Winners.