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Capital Area Realtor


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

July - August 2011

Inside This Issue Association News....................................... page 3 Ask the 4 GCAAR in the News.................................... page 4 Broker/Manager 4 NAR Director’s 5 GRI 6 Committee 6 7 ABCs of Real 8 International 8 GCAAR 9 GCAAR Housing 9 Leaky Roof Happy 9 Education 10 Reverse 11 YPN Networking 11 Public Policy.............................................. page 12 Market 14 RPAC 16 17 Green 18

USPS: 017-467

Volume 17, Number 4

Brenda Small Named 2011 GCAAR REALTOR® of the Year GCAAR is pleased to name Brenda Small as its REALTOR® of the Year for 2011. Brenda is currently Associate Broker and Manager of Prudential Carruthers REALTORS®, Uptown Branch, in Washington, DC. Brenda is a former GCAAR president and board member and is also the Immediate Past President of the Washington, DC Association of REALTORS® (WDCAR). She has served on a number of national, state, and local boards and committees, including the National Association of REALTORS® Board of Directors Local Representative and Federal Housing Policy Committee; the Maryland Association of REALTORS® Board of Directors, Issues Mobilization, and Nominating Committees; and the WDCAR Board of Directors, Public Policy, Grievance, and Cultural Diversity Committees, and its Education Advisory Group. As a GCAAR member, Brenda has been an active participant on a number of committees, including Chair of the Public Policy Committee (2008, 2006,

2005), the Leadership Development and Advisory Group, and Nominating Committee. Among her many civic activities, Brenda has been a speaker for the Greater Washington Urban League and Home Free USA first-time home buyer seminars for many years, and actively supports Hannah House, Sunshine Kids for children with cancer, and Fannie Mae’s annual Help the Homeless Walkathon. Currently, she is mentoring a single mother of four who is working on her GED diploma. “When you think of Brenda, leadership, professionalism, and commitment to excellence immediately come to mind. She brings 100 percent to everything she does, whether it’s writing a real estate contract, educating first-time home buyers, or mentoring at a women’s shelter. She epitomizes the best of our Association,” says Adrian Hunnings, 2011 GCAAR President. As Brenda aptly says, “service and giving are a personal commitment and a significant aspect of my life’s purpose and work.”

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

Greater Capital Area Association of REALTORS® 8757 Georgia Avenue, Suite 600 Silver Spring, MD 20910

REALTOR® Fest Scores Big! Over 400 attendees enjoyed a day of informative classes, networking, great food, and more at the 2011 REALTOR® Fest on July 11, at the Bethesda North Marriott and Conference Center. Attendees had the opportunity to get up to nine hours of CE credits and they took full advantage of it! The caliber of classes offered sparked rave reviews. As Isabel Curtis-Crouch of Ivan Realty remarked, “I have taken a lot of courses, but I have to say that the Reverse Mortgage Update was one of the best

Attendees packed the trade show, winning a bevy of fabulous door prizes provided by the vendors. Big winners included Vivian Portis, who won the 60” 3-D TV courtesy of MRIS, and Harold Levy, who won an iPad courtesy of Embrace Home Loans. GCAAR’s committees were also in full force providing information and prizes. Special thanks to all of our sponsors, attendees, and GCAAR committee members for making this year’s REALTOR® Fest a rousing success. We look forward to seeing you again in 2012! See REALTOR® Fest pics on page 3.


Serving the Business Needs of OUR Professionals

2011 July-August

Capital Area REALTOR®

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Capital Area Realtor®

Serving the Business Needs of OUR Professionals

2011 July - August

A ssociation N ews 2011 Board of Directors President

Adrian Hunnings

GCAAR is on Twitter!

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

President-Elect Bonnie R. Casper Secretary

Silvia Rodriguez


William H. Highsmith Jr. , JD, GRI

Immediate Past President Shelly Murray

Need a Space to Hold Your Next Event?

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

Chief Executive Officer Michael Moran


Cuvator “Q” Armstrong Edward Downs Greg Ford Mynor Herrera William Hounshell Ellen Katz Fred Kendrick Eleanor “Elley” Kott Michael McGreevy Obiora “Bo” Menkiti Gerard “Gerry” Occhiuzzo Prabhjit Singh

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



Bobette Banks

Advertising Representative Arlene Braithwaite

Capital Area REALTOR® (USPS 017-467) is published four times a year (Q1, Q2, Q3, Q4) by the Greater Capital Area Association of REALTORS®, 8757 Georgia Avenue, Suite 600, Silver Spring, MD 20910. Periodicals postage paid at Silver Spring, MD. Member subscriptions account for $10 of each member’s annual dues. Annual subscriptions are available to non-members for $25. Subscription inquiries may be sent to Capital Area REALTOR® at the above address. Copyright© 2009 by the Greater Capital Area Association of REALTORS®. All rights reserved. POSTMASTER: SEND ADDRESS CHANGES TO CAPITAL AREA REALTOR®, ATTN: GCAAR, 8757 Georgia Avenue, Suite 600, Silver Spring, MD 20910. The Greater Capital Area Association of REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed herein do not necessary reflect the opinions of the officers, directors or staff of the Greater Capital Area Association of REALTORS®. The Greater Capital Area Association of REALTORS® accepts submissions of articles and photographs and remains the property of the Capital Area Association of REALTORS®. The publisher reserves the right of full editorial authority and to decline publication of any article not deemed proper. Deadline for all submissions, including cameraready advertising on disk or film, is the first of the month prior to publication. Reprint with permission only. Reprint permission may be obtained by contacting the Greater Capital Area Association of REALTORS® at 301.590.2000; via fax at 301.590.2248; or via e-mail at 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.

GCAAR Past President Holly Worthington gets ready for class

Neal Feinberg of MRIS with 60” TV winner Vivian Portis

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

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



Serving the Business Needs of OUR Professionals

2011 July-August

Capital Area REALTOR®

GCAAR in the News

Ask the President Adrian Hunnings 2011 GCAAR President

Nationwide Open House Weekend Gazette Newspapers, June 1, 2011

Question: Why do I still get a paper newspaper from GCAAR? Answer: Ah, good question! Many folks would like to only get material by electronic means, e-mail, text, etc… and we do a great deal of that too, from our electronic billing, event notices, and class registrations, to our weekly electronic newsletter, GCAAR’s Newsline. It’s good for the environment and it cuts our costs. But e-mail is not perfect. Number one we don’t have everyone’s e-mail address and even when we do send e-mail material it’s more often than not immediately deleted. We still suffer from “REALTORS® don’t READ!” We find that folks respond to a number of media, and chief among them is that old standby - print. So we communicate over a spectrum, e-mail, letters, text, Facebook, Twitter and newsprint. With that mix, we’ve found that GCAAR gets the maximum exposure to its membership. So enjoy your newspaper, and recycle when you’re finished, except of course this column!

The Greater Capital Area Association of REALTORS® Supports Nationwide Open House Weekend June 4 & 5 Your local REALTORS® will be hosting hundreds of open houses this weekend. Unlike many other parts of the country, the real estate market in Montgomery County is coming back. In Montgomery County in April 2011*: Average Sales Price: $436,537 2.7% above April 2010 average of $425,250 Current Inventory: 3 months

Adrian Hunnings 2011 GCAAR President

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

Find a REALTOR® at

*Statistics provided by RealEstate Business Intelligence.

(301) 590-2000

Less Time in the Car High on Buyer’s List The Washington Times June 16, 2011 “When people talk about ‘location,’ they are really referring to the convenience of access to things like public transportation and a nice grocery store.” - Suzanne Des Marais, GCAAR Member / 2011 WDCAR President Real Estate Bidding Wars are Back in Parts of DC Area The Washington Post June 24, 2011

2011 GCAAR Broker/Manager Forums Save the s! Date

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

September 21

“Are You and Your Marketing in Compliance?”

Speakers: Chuck Kasky, Esq., Maryland Association of REALTORS® Michelle Yam, Compliance Manager, MRIS Time: 12 p.m. Location: GCAAR Rockville Office 9707 Key West Ave, Suite 200, Rockville, MD

October 12

“What Documents Do You Need to Have Signed and Retained to Protect Your Agents and Your Company” Speaker: Tony DeVol, Esq. Time: 12 p.m. Location: GCAAR Rockville Office 9707 Key West Ave, Suite 200, Rockville, MD

November 9

“All You Need To Know about Procuring Cause” Speaker: TBA Time: 12 p.m. Location: GCAAR Silver Spring Office 8757 Georgia Ave, Suite 600, Silver Spring, MD Broker/Manager Forums are free events. Lunch will be served for registered attendees. Register online at

“Most of my scenarios involve perhaps two to four bidders and anywhere from $5,000 to $20,000 extra, depending on the price range of the property, although one seller got more than $70,000 more with only three buyers in competition.” -Valerie Blake, GCAAR Member During the boom, “escalation clauses were all over the was a moving target, and appraisers knew it was a moving target. Now buyers are much more cautious with escalation clauses.” - Bonnie Roberts-Burke, GCAAR Member “It’s difficult for people to go much over the asking price because of the lack of financing... today, the question is: how much over the price can you go before you run into problems with the lender?” - Fred Kendrick, GCAAR Member Finding Affordable Housing News Channel 8 - NewsTalk July 8, 2011 “You’ll find that it’s a very good time for buying... with the combination of low interest rates and the fact that we’ve hit a tipping point in many of our markets...DC leading the charge... housing is much more affordable then it has been in the past.” - Mynor Herrera, GCAAR Member Details on LeDroit Park The Washington Post July 15, 2011 “In the past 12 months, three single-family houses sold, at prices ranging from $420,000 to $750,000, according to Suzanne Des Marais of Urban Pace Real Estate.”

Capital Area Realtor®

Serving the Business Needs of OUR Professionals CLASSIFIED FLAGS

NAR Director’s Report

The Washington Post

Real Estate Guide ABCDE


4 More color!





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




A Smart Investment for the Savvy Buyer.

929 FLORIDA AVENUE, NW – 202-299-9223

Brightwood Brightwood

Adams Morgan




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

Townhome. 4 br, 3½ ba. NEW PRICE! Beautiful Square Front Victorian Townhouse on treelined block in West Dupont Circle. Four renovated flrs of elegant entertaining principal rms, comfortable Living Spaces, updated Gourmet Kit w/ Island, hardwood floors & high ceilings thru out & 5 period fireplaces. Located only 1 block from Starbucks. 2031 O St NW, DC 20036. Wlliam F.X. Moody 202-243-1620

Dupont Circle


Mary Jane Molik 202-000-0000

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

Mobile/Manufactured. 3 br, 2 ba, 3br, 2fb, 1 den, 2 kitchens, lower level has its own kitchen, full bath, den and outside entrance. hardwood floors on main and upper level, carpet and tile lower level. 6415 8th St NW, DC 20012 George Saab SAAB, Realtors 703-288-4877 Brightwood

Adams Morgan

The Open House prospects you want are reading The Washington Post Among those who attended or plan to attend homefor-sale open houses, 82% are Washington Post or users.



CONDO. 2 br, 2 ½ ba, 1,550 sqft. Spectacular open 2 level condo with great views, GARAGE parking and extra storage! Floor to ceiling windows, 2 masters bdrooms, 2 zone audiosystm thruout, 42’ flatpanel, bay window in living room and 2nd master bedrooms, custom plantation shutters, granite kit high-in appliance, wine cooler, marble bathrooms and full size separate washer and dryer. 2200 17th St NW #220, DC 20009 Dwight Mortensen 202-361-4400

Single-Family Home. 4 br, 2 ba. Presented by the REO Division of Brandon Green. Completely rehabilitated property sitting on a quiet street in the NW. Fully renovated from the ground up. New windows and hardwood floors. 710 Roxboro Pl NW, DC 20011. Brandon Green 202-111-2222


Single-Family Home. 4 br, 2 ½ ba. Antique brk 4 bedroom, 3 level, 2.5 attractively renov Bath Cape Cod. Gorgeous true t/s + breakfast bar, granite, SS, sitting room w/ Fr doors to wonderful priv patio & lovely garden! Large LR, handsome extra-wide fireplace, sitting room w/French doors, formal DR, foyer. 4605 47th St NW, DC 20016 Susan Jaquet 301-320-8346

American Univ.


Single-Family Home. 4 br,3 ba. Fresh new listing in the heart of AU Park. Move in cond. 4 finished levels of living space incl 2 full baths up! & 3 br + 4th/study on upper lvl 2. Welcoming wide front porch, level fenced playball yard, garage/storage. 4626 47th St NW, DC 20016 Susan Jaquet 301-320-8346


Columbia Heights




CONDO. 1 br, 1 ba, 510 sqft. Welcome Home! The Concord is a wonderful new condo project with upgraded finishes and great location! This is a very cool Art Deco building with hardwood floors, granite countertops, stainless steel appliances, and designer cabinetry. 5611 5th St NW #24, DC 20011. Jeremy Aldridge 202-111-2222 $435,000

CONDO. Bright open 1 Bedroom + Den, 4th floor with new kitchen, new bath, new heat pump, hardwood, stainless refrigerator with icemkr, ss stove, dishwasher, microwaveRH, full size washer/ dryer. Quiet one way street in Col. Hts. Converted co-op, long time residents. 1447 Chapin St. NW #401. Margaret Virostek 202-000-0000 Weichert, Realtors Columbia Hghts $315,000 CONDO. 2 br, 1 ba, 1,058 sqft. LOCATION... see this opportunity to invest in a beautiful Columbia Hghts area. 1519 Park Rd NW #303, DC 20010. Ken Johnson Columbia Hghts

Single-Family Home. 3 br, 2½ ba.Fabulous Art Deco Tudor w New Pella Windows(cost $35.0) Dramatic flr plan w sunken livingroom/fireplace, spacious diningroom w glass doors open to large deck(Cost $14.0) w custom wrought iron/architectual motif.. 6105 14th St NW, DC 20011. Dianne Bailey 202-000-0000

Cleveland Park Cleveland Park

American Univ.


CONDO. 2 br, 1 ba. Shows like a dream! Redone from top to bottom! Fabulous Top-of-theline Chef's Kitchen! Renovated Bath! Hdwd Flrs, Decorative FP! New Windows! Pets allowed! Front Desk, Close to (Metro Red Line). 4700 Connecticut Ave NW #404, DC 20008. Eric Hernandez 202-000-0000

Columbia Hghts

American University American Univ.

Cleveland Park



Townhome. 4 br, 3½ ba. Wow! this row twnhse w/ basement rental apt is smartly renov. & remod.. House has tenant planning to move out in jan 2010. apt is vacant. house incl off st pkng, deck, wood flrs, ss appliances & maple kit cabinets, gas fireplace, high ceilings & open floor plan. 2719 11th St NW, DC 20001. Helen Dodson 202-000-0000

Dupont Circle

Townhome. 1 ba FANTASTIC PRICE REDUCTION! Penthouse Studio at Northumberland. Charming and bright Penthouse Studio with Murphy bed unit- which conveys. Red and white oak floors with mohagany inlays. 9’+ ceilings. Kitchen with breakfast bar. Old world charm, formal,elegant residence. Conveniently located steps from 16th and U Streets. 2039 New Hampshire Ave NW #707, DC 20009. Jim Bell 202-607-400 Dupont Circle $269,900 CONDO. Great location at 16th and U st!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. 2000 16th St NW #2, DC 20009. Erich Cabe 202-320-6469 Dupont Circle $269,900 Townhome. 1 ba FANTASTIC PRICE REDUCTION! Penthouse Studio at Northumberland. Charming and bright Penthouse Studio with Murphy bed unit- which conveys. Red and white oak floors with mohagany inlays. 9’+ ceilings. Kitchen with breakfast bar. Old world charm, formal,elegant residence. Conveniently located steps from 16th and U Streets. 2039 New Hampshire Ave NW #707, DC 20009. Jim Bell 202-607-400

Dupont Circle

American Univ. $699,000 Single-Family Home. 3 br,1½ ba. Solid red brick colonial on level lot located 1 block from Turtle Park and close to Spring Valley shopping. Bright cheery sun room. 4513 Warren St NW, DC 20016. Margaret Virostek 202-000-0000


CONDO. 1 br, 1 ba. If you’ve been looking for a lrg affordable apt in GREAT shape, w/ good light & privacy that’s an EZ walk to Metro-this is it. Wonderful HWF, beautiful renv’ted Kitchen. 4600 Connecticut Ave NW #113, DC 20008. Mary Lowry Smith 202-000-0000

Cleveland Park $1,395,000

Multi-Family Home. Great investment opportunity! Three 2 BR,2BA units w/2 pkg spaces all metered separately w/reliable rent history. Upper two units have hwd floors; lower rear unit has ceramic tile flooring and is all electric. 1748 Willard St NW, DC 20009. Steward Coleman 202-841-2836




COOP. 1 br, 1½ ba, 1,295 sqft. Spacious and bright one bedroom, 1 & 1/2 bath on high floor with cityscape view. As large as many 2 bedrooms! Note: coop fee INCLUDES property tax and utilities. Great Watergate location with many amenities. 2700 Virginia Ave. #1204, DC 20037. Gigi Winston 202-000-0000 Winston Real Estate $859,000


COOP.1 br, 1 ba, 904 sqft. Spacious Watergate 1 bedroom overlooking in a quiet garden/courtyard setting. Floor to ceiling windows and balcony. Over 900 square feet. Parking and extra storage is included. Coop fee INCLUDES taxes, all utilities, maintenance of HVAC, basic cable. Convenient location -Near metro, Georgetown waterfront, shopping on site and more! Gigi Winston 202-000-0000 Winston Real Estate Foggy Bottom $370,000 COOP. Large, spacious 2 bedroom at the Watergate. Bright and sunny with balcony across entire apartment. Gigi Winston 202-000-0000 Winston Real Estate Foggy Bottom $998,000 COOP. 2 br, 2½ ba, 1,880 sq. ft. Bright direct river view 2 bedroom. Watch river and sunsets from every room. Almost 1900 sq. ft. Judith Lewis 202-000-0000 Foggy Bottom



Single-Family Home. 3 br, 2 ba. Brick colonial with 3BR 2BA upstairs!Fin lower lev: laundry, quarter BA, very high ceil rec rm w/ 2nd FP & outside entrance! 4425 River Rd NE, DC 20016. Susan Jaquet 703-000-0000


All Homes Now on Sale! Priced from the Low $300’s*


Madrigal Lofts, DC’s Most Popular Condominium. Come see why


Logan Circle

811 4th Street, NW.

202.408.0007 nice view from balcony. Features include NEW W&D, garage parking included, this building has 24 hour front desk, Outdoor pool. 2111 Wisconsin Ave., NE, DC 20007. Patrick Kelly 202-000-0000


Apt/Condo/Twnhm. PRICE DROP! OPEN HOUSE SUN 11/29 1-4 Over 1000 sq ft 1br + huge den w/closet/2ba chic pad in famous Whitman incl pkng, balcony, 50k of cstm decor, wired 4 sound, mrble grnte Braz Cherry hdwd, stnlss, glass, never-used kitchen, lndry rm, glss shwr, lux tub. Wendy Wood 202-000-0000

202.640.1023 l

Brookland $699,900 CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting. 4301 Military Rd. NE #606, DC 20009. Wendy Banner 202-000-0000 Brookland $760,900 Townhome. Great location at 16th and u st!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. 5337 42nd St. NE, DC 20015. Michael P. Rose 202-000-0000

Deanwood Deanwood


Brentwood Brentwood


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

Townhome. 3 br, 1½ ba. Sun-filled and renovated 3BR/1.5BA, conveniently located near shops and restaurants of Georgetown, hardwood floors throughout, separate Dining Room, wonderful table-space Kitchen w/ granite counters and stainless steel appliances, opens to rear private patio. 1215 33rd St NE, DC 20007. Nancy Bubes 301-000-0000


Source: 2009 Classified Marketplaces


Single-Family Home. 5 br, 4 ba. Totally renovated turn of the century Victorian townhome in Georgetown! Live across from Dumbarton Oaks and enyoy the gardens;Four exceptional levels as well as a private deck and garden ; 5+ bedrooms, 4 full baths; beautiful kitchen with granite;new appliances,four fireplaces. 3102 R St NE, DC 20007. Susan Berger 202-255-5006

Deanwood $849,000 2 br | 1 ba | Single-Family Home Located on a quiet one-way street in the East Village, this beautiful semi-detached 2 bed, 1 bath Federal boasts exquisite details throughout. 2806 Dumbarton St NE, DC 20007. John Washington 202-000-0000

Fort Totten Fort Totten


CONDO. Spacious, bright condo on upper floor with

$399,000 Townhome. 2 br, 2 ba, 3 Level 2 Unit building in near metro & shopping. Updated homes but you can do your own touch ups. It is Ready to be Move in. It has Hardwood flooring and many other updates.2 BR second floor and one bath room. The basement is separate unit and can use as additional rental income or else. 1517 6th St SW, DC 20001. Payam Bakhaje 202-345-2778 Bellevue

$399,000 Townhome. 2 br, 2 ba, 3 Level 2 Unit building in near metro & shopping. Updated homes but you can do your own touch ups. It is Ready to be Move in. It has Hardwood flooring and many other updates.2 BR second floor and one bath room. The basement is separate unit and can use as additional rental income or else. 1517 6th St SW, DC 20001.

Anacostia Anacostia

Payam Bakhaje 202-345-2778 Bellevue



Single-Family Home. 4 br, 2 ba. Classic Victorian in Popular Brookland Community. Three levels plus walk-up attic with space for rooms. Formal entry with sitting area, huge dining room with pocket doors, living room with fireplace. 2837 12th St SE, DC 20017. Bradley Wisley 301-000-0000 Anacostia



CONDO. 1 br, 2 ba. PRICE DROP! OPEN HOUSE SUN 11/29 1-4 Over 1000 sq ft 1br + huge den w/closet/2ba chic pad in famous Whitman incl pkng, balcony, 50k of cstm decor, wired 4 sound, marble grnte Braz Cherry hardwood, stainless, glass, never-used kitchen, lndry room, glass shower, luxury tub. POOL, EXCSE RM, 24-hr Concrge CLOSE TO EVERYTHING: Metro, grocery, pharmacy. 910 M St SW #429, DC 20001. Martin Hosking 240-605-7590



CONDO. 1 br, 1 ba, 750 sqft. Spacious one bedroom with bird’s eye views. Integrated Kitchen, Living/Dining room. Wood parquet floors throughout, 3 big closets. Front Desk, roof deck and pool, and laundry room on each floor. Desirable urban location where it’s. 1440 N St SW #906, DC 20005. Jo Ricks 202-234-1784 City Houses, LLC

CONDO. 2 br, 2½ ba, 1,744 sqft. New state-of-the-art building - 27 units. Duplex. Every unit has own wash/ dryer, super high-end fins, ss apps, granite, bamboo flrs & cer tile BA. NO CLOSING COST OPTIONS. 450 Church St SW #602, DC 20005. Todd Wood 301-347-4720 RE/MAX Realty Bellevue

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

$318,000 Tanya Slade 301-000-0000

CONDO. 1 br, 1 ba, 750 sqft. Spacious one bedroom with bird’s eye views. Integrated Kitchen, Living/Dining room. Wood parquet floors throughout, 3 big closets. Front Desk, roof deck and pool, and laundry room on each floor. Desirable urban location where it’s easy to walk to Metro and Logan commercial offerings from your front door. 1440 N St SW #906, DC 20005. Jo Ricks 202-234-1784 City Houses, LLC Bellevue $699,900 CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting. 4301 Military Rd. NE #606, DC 20009. Wendy Banner 202-000-0000

Capitol Hill Capitol Hill


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

1-800-000-0000 Brentwood


Unparalled LOCATION. Unsurpassed LUXURY. Unfortunately, not an unlimited supply.


CONDO. 2 br, 2½ ba, 2,106 sqft. Bright & spacious 2 bedroom, 2 1/2 bath at the Plaza. Over 2000 square foot open floor plan- dining/den area w/ balcony access, large open updated chef’s kitchen w/ granite counter-tops. 800 25th St NW #703, DC 20037. Gigi Winston 202-000-0000 Winston Real Estate Foggy Bottom $595,000 COOP. The spacious feel of a house in convenient one level river view Watergate. 700 Hampshire Ave NW #421, DC 20037. Gigi Winston 202-000-0000 Foggy Bottom $355,000 CONDO. The spacious feel of a house in convenient one level river view Watergate. 700 Hampshire Ave NW #421, DC 20037. Kim Kimmy 202-000-0000

CONDO. 2 br, 2 ba, 1,114 sqft. NEW LISTING! *Second bedroom currently used as a den.* Experience the ultimate in comfort, convenience, and service is this charming 2 Bedroom, 2 Bath Residence at the Ritz Carlton condo. 1111 23rd St NE #3G, DC 20037. Patrick Chauvin 202-243-1620

Brookland Brookland


CONDO. 2 br, 2 ba. Gourmet Kitchen with Wood Floors, Granite Counters & Backsplash & Stainless Stl Appl. Marsha Schuman 301-299-9598

The housing industry is under heavy attack by the media and misinformed legislators. Those negative forces are eroding the many housing programs and benefits obtained over the years. REALTORS® are working more hours while facing the frustrations that come with short sales, foreclosures, credit restrictions, new rules, and the lack of lending stability.


Single-Family Home. 3 br, Single-Family Home , 4 br, 21½ ba. Home sweet Home! Cozy, inviting, georgeous ALL BRICK 4 BR single family DETACHED home. Hardwood floors on main level, freshly painted, new kitchen floor. Enjoy backyard family picnics cool breezes on front porch in DC. 910 48th Pl SE, DC 20019 Luis Vivas 202-000-0000

Wendy Banner 301-365-9090 Brentwood

With NEW LOW PRICES and customized incentives, Bethesda’s last new LUXURY CONDOMINIUM. is going fast. Where else can you find 4 live theatres and 2 cinemas – along with 200 restaurants and a dozen art galleries – all within strolling distance? Welcome to Lionsgate, one block from the Metro, in the heart of downtown Bethesda. It’s Park Avenue style living from the$800’sto$1.7million.Forthebestviews,floorplansandincentives,makeyour appointmentnowandjointhe-

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


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



Brand new condos in the center of it all, 1 BR/Den from the $400s

Wendy Wood 202-000-0000 Foggy Bottom



Bellevue Bellevue

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


• Modern Loft Style Design • 10’ Ceilings • FHA Financing Available • Steps To Penn Quarter, Chinatown, Verizon Center Brookland $789,900 CONDO. Great location at 16th and U St!!! 1 bed/ 1 bath with wall-to-wall carpeting in a pet friendly building. Wood floors, classic window. 4301 Military Rd. NE #102, DC 20009. Neil Bacchus 202-320-6469

Single-Family Home. 2 br, 1½ ba. Super charming townhouse on a quiet side street in convenient Foggy Bottom. 5-minute walk to Metro,Georgetown, West End. 2524 I St, DC 20037. Judith Lewis 202-000-0000

Foggy Bottom Foggy Bottom


Single-Family Home. 4 br, 3½ ba, 999 sqft. Premier AUP 4BR, 3BA col. Huge DR! Huge lower lev with fab stone fp, BR, BA, bonus rm, sep entr! Gorgeous large lot! As is. SS/ granite kit just renov. 4615 Van Ness St. NW, DC 20016. Tracy Carol 202-111-2222

Foggy Bottom

Foggy Bottom


N 11 OPE


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

John Plank 703-528-5646 Dupont Circle


Adams Morgan

Brand New Ultra highend loft in the heart of Adams Morgan.

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

N 11 OPE

CONDO. 2 br, 1 ba, 822 sqft. Rarely available, adorable 2 BR! Tons of character, huge windows, completely renovated! Granite and stainless kitchen w/hardwood floors! Beautiful bath w/full size tub! Immaculate and available immediately! Condo fee includes water & heat! 1831 Belmont Rd NW #204, DC 20009 George Saab (703) 288-4877

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


wednesday, december 11, 2009

open houses

Adams Morgan, Adams Morgan

Silvia Rodriguez, GRI,CIPS,TRC, AHWD NAR Director

wednesday, december 11, 2009

real estate open houses


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NAR needs your help! Protect your business by becoming a RPAC investor. Respond to the Calls for Action! Contact your legislators! The Association needs your RPAC investment to protect our real estate business. You’ll be amazed to learn all the resources and benefits that your membership provides. Just visit NAR’s web site, In addition to group or reduced rates for health, dental, car, and home insurance, you’ll find information about financial resources like the REALTORS® Federal Credit Union, professional development, office solutions, technology, and a great virtual library of ebooks, videos, and social networking tools. NAR also offers professional tools to enhance our success. The new Broker Price Opinion (BPO) certification compliments the Short Sales and Foreclosure certifications. The CIPS®, ABR®, GREEN and other designations provide us with the level of education required to address the needs of today’s clients.

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Enjoy all the Association resources and benefits offered to you on the national, state, and local levels. Be an active member. Volunteer to serve on committees. Join NAR’s partners, such as the Women’s Council of REALTORS® (WCR). Make plans now to attend NAR’s Annual REALTORS® Conference & Expo November 11 - 14 to get a comprehensive view of our real estate industry. I want to thank you for giving me the opportunity to serve on the NAR Board of Directors. It is a privilege and a unique professional experience. Mil Gracias!!



Serving the Business Needs of OUR Professionals

2011 July-August

Congratulations GRI Graduates!

Capital Area REALTOR®

GRI graduates and future brokers

On May 12, graduating students from WDCAR’s GRI Program were presented with their pins, certificates, and designation as Graduate, REALTOR® Institute (GRI)! REALTORS® who earn the GRI designation stand out to prospective home buyers and sellers as real estate practitioners who have gained in-depth knowledge on technical subjects, as well as the fundamentals of real estate. Learn more or sign up for the GRI series at

GRI students and graduates

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

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

GCAAR President Adrian Hunnings teaches GRI Agency class

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

International Committee Members

Staff Liaison: Hakeema Jones Stephen Bennetts, Chair Hildegarde Pollard, Vice Chair Cuvator Armstrong, GRI Kacem Benali Jacqueline Bennett Jihee”Nina” Bonan Abdul Chaudhry Eleanor Colon Virginia Fall Andrew Felber Susan Hand Vincent Hurteau Angela Jones Ntumba Makenda Pushpa Mittal Gerry Occhiuzzo Eugenia Park Denise Rallis-Frutos Silvia Rodriguez Luba Vidgop Barg

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

Professional Standards Committee Members Staff Liaison: Yvette Robinson John W. Gill, Jr., Chair Martha Merenda, Vice Chair Kacem Benali Thomas Bennetts Sally Bolger Sara Lou Cardwell Roger Carp

Mark Coakley Lori Connor Hilde Dachtera Eleonore Gerstenfeld Lee Goldstein Jacqueline Grenning James Higgins Harold Huggins Ellen Katz Anne Killeen Jeffrey LaRocque Joy Liberti Victoria (Vicky) Lobos-Kirker Robin Loew Marie McCormack *Barbara Miles Linda Norman Eugenia Park Bonnie Roberts-Burke Marjorie Rosner Maxine Schwartzman Marie Shannon Dianah Shaw Maureen “Mo” Snowden Paolo Verrone Leslie Weightman Jearline Williams *Deceased

Capital Area Realtor®

Serving the Business Needs of OUR Professionals

2011 July - August

T echnology Feeling Threatened? How to Use Your Smartphone as a Weapon Excerpts taken from REALTOR® Magazine, July 2011 By Melissa Dittman Tracey Real estate can be a dangerous profession, as recent incidents in the news attest, but that smartphone you carry everywhere with you can become one of your greatest weapons in protecting you against danger. Real estate pro Michelle Jones, ABR, GRI, with Realty Austin in Austin, Texas, recently worked with a developer to create Real Alert, a safety mobile app for the iPhone and Android for real estate professionals. Real estate safety expert and trainer Tracey Hawkins with Safety and Security Source came up with a list of her top four picks that she feels are must-haves for anyone working in real estate.

Moby Devices: BlackBerry, iPhone, and Android (coming soon) Cost: Free, premium plans available ($9.95 per month/$99.94 per year) Hawkins chooses the Moby app as one of her top picks because of its check-in feature that could be beneficial to real estate professionals at open houses and showings. The app will send messages at predetermined times that ask “Are you OK?” If two questions go unanswered, the app will automatically notify the contacts you select that you failed to respond and provide your GPS location, which it gathers automatically from your smartphone. Some of the app’s other features: • Tracking tool: You can selectively reveal your location to certain contacts. The app can be set to send your GPS location periodically to whomever you choose and keep others up-to-date while you’re on the go. You can also leave notes to your contacts, such as “on my way to a vacant property” or “a bit nervous around this new client.” • Alert tool: With one touch of a button, you’ll be able to alert your contacts or emergency personnel if you need help. The alert will automatically include your GPS location. A stepped-up premium plan is available ($9.95 per month/$99.95 per year) that can be used to send your alerts to not only your contacts but also a 24/7 security monitoring system. The monitoring system can determine the appropriate emergency services needed and dispatch police, ambulance, or fire responders using your exact GPS location from your phone. * On iPhone, find Moby by searching “Moby by Contigo” in the iTunes app store.

Real Alert

For iPhone: For Android: Devices: iPhone and Android Cost: $1.99

This app allows you to quickly alert your emergency contacts or police when you feel threatened as well as discreetly record “creep data,” key details about suspicious people you encounter. The app features: • A quick tap — one-button push — to speed dial and alert your emergency contacts when you need help. • A quick-tap button (double tap in this case to avoid accidental calls) to instantly call 911. • The ability to record “creep data,” which allows you to detail physical descriptions, vehicle information, and other important information for police. You can also record audio details or even take a photo. • Retrieve the location of nearby hospitals by using your GPS location. • A quick-tap button to sound an alarm to ward off potential attackers. (The volume will depend on the sound setting on your phone.) •

The ability to turn your smartphone into a flashlight.

SafeTREC Devices: Most mobile devices Cost: Free limited plan; full-featured plan $9.95 per month With this app, whenever you feel in danger, you can press a panic button on your phone that instantly alerts others that you need help. E-mail and text messages then will be sent to your emergency contacts, along with your precise location using your phone’s GPS technology. The paid version of this app will also send the message to a 24/7 live conference call help center, which will contact emergency responders if necessary.

IcePics Device: iPhone Cost: $2.99 Take a photo of a suspicious person with just one press of a button and have it e-mailed instantly to your emergency contacts, along with your location information — you can even do it without that person ever knowing. IcePics (In Case of Emergency Pictures) is an iPhone app that makes your camera instantly accessible via an icon on the front screen of your phone. You can snap a photo discreetly too: Hold the phone to your ear and pretend you’re making a phone call but tilt the phone toward the person to take the photo — the photo is taken without a click sound and is instantly sent to your emergency contacts, without making any noise. The e-mail to your emergency contacts will include the photo as well as your GPS coordinates and a link to a Google map so your contacts can pinpoint the precise location at which the photo was taken.



2011 July-August

Serving the Business Needs of OUR Professionals

ABCs of Real Estate The real estate industry uses a lot of acronyms that you may or may not be familiar with. Here are some you may come across in your business activities. AIREA - American Institute of Real Estate Appraisers ALTA - American Land Title Association ASHI - American Society of Home Inspectors BD - Book Depreciation BFP - Bona Fide Purchaser BRR - Book Rate of Return CGT - Capital Gains Tax COE - Cost of Equity CUV - Current Use Value DIM - Deferred-Interest Mortgage DRC - Depreciated Replacement Cost FPM - Flexible-Payment Mortgage FPC - Federal Political Coordinator FRM - Fixed-Rate Mortgage FTC - Federal Trade Commission GPM - Graduated Payment Mortgage GSEs - Government-Sponsored Enterprises (Fannie Mae and Freddie Mac) HECM - Home Equity Conversion Mortgage HEL - Home Equity Loan HUD - (Department of) Housing and Urban Development LTV - Loan-To-Value (Ratio) MARS - Mortgage Assistance Relief Services Rule - to protect consumers from mortgage relief scams, affects disclosure requirements for short sales. MBB - Mortgage-Backed Bond MBO - Mortgage-Backed Obligation MBS - Mortgage-Backed Security MGIC - Mortgage Guaranty Insurance Corporation MID - Mortgage Interest Deduction MRA - Master Residential Appraiser MSA - Master Senior Appraiser NHBC - National House Building Council NPV - Net Present Value NRV - Net Realizable Value PCD - Planned Commercial Development PEPS - Political, Economic, Physical, Social (forces that drive value) PHA - Public Housing Administration PID - Planned Industrial Development PITI - Principal, Interest, Taxes, and Insurance PMDT - Purchase Money Deed of Trust PMI - Private Mortgage Insurance QRM - Qualified Residential Mortgage RAM - Reverse Annuity Mortgage REIT - Real Estate Investment Trust REC - Real Estate Commission ROM - Roll-Over Mortgage SAM - Shared-Appreciation Mortgage SEM - Shared-Equity Mortgage TPL - Third Party Liability TIP - Treasury Investment Program TRA - Tax Reform Act VAP - Variable Payment (Mortgage) VAT - Value Added Tax VPM - Variable-Payment Mortgage VRE - Virtual Real Estate VRM - Variable-Rate Mortgage

Capital Area REALTOR®

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

International event attendees

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

Capital Area Realtors

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Serving the Business Needs of OUR Professionals

2011 July - August

2nd Annual GCAAR Cares Silent Auction Rocked at 2011 REALTOR® Fest On Monday, July 11, the GCAAR Cares Community Service Committee hosted the 2nd Annual Silent Auction at REALTOR® Fest. With tables centrally located right outside the doors of the popular REALTOR® Fest trade show, dozens of members and affiliates bid on items ranging from $20 to $500. GCAAR Cares raised nearly $1500! Thanks and congratulations to all our Silent Auction winners! This year’s silent auction fundraiser was dedicated to the GCAAR Cares Tornado Relief Fund. The proceeds will go directly to the REALTOR® Relief Foundation to help victims around the country devastated by the recent tornadoes and floods. Special thanks to the GCAAR Cares Committee who volunteered many hours preparing for and volunteering at the Silent Auction table and for donating over 25 auction items. Way to go GCAAR Cares!

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

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

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

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

Leaky Roof Happy Hour - July 14 Members met at the Tia Querta Restaurant in Bethesda on July 14 for the first annual Leaky Roof Happy Hour sponsored by GCAAR’s REALTOR® Political Action Committee (RPAC). GCAAR President Adrian Hunnings and RPAC Chair/President-Elect Bonnie Casper discussed the issues facing REALTORS® today and explained why support in RPAC is vital to the future of the real estate industry. Back Row: WDCAR CEO Ed Krauze, 2011 GCAAR President Adrian Hunnings Front Row: RPAC Chair/PresidentElect Bonnie Casper, NAR Golden “R” Investor Carole Maclure, 2008 GCAAR President Dennis Melby.

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



Serving the Business Needs of OUR Professionals

2011 July-August

Capital Area REALTOR®

2011 S eptember E ducation S chedule Raising the Level of Professionalism Unless otherwise noted, all classes listed will be held at the GCAAR Conference Center, 8757 Georgia Ave., Suite 600, Silver Spring, MD Please check our website at for more updates and additions. September 7, 2011 GRI 101 CEUs: 6 hours DC (elective) Instructor: Valasie August Time: 9:00 a.m. - 4:00 p.m.

September 16, 2011 Creative Financing CEUs: 3 elective hours DC & MD Instructor: Jim Semeyn Time: 9:30 a.m. - 12:30 p.m.

September 9, 2011 GRI 102 CEUs: 6 hours DC (elective) Instructor: Valasie August Time: 9:00 a.m. - 4:00 p.m.

September 19, 2011 GRI 104 CEUs: 6 hours DC (elective) Instructor: Jim Semeyn Time: 9:00 a.m. - 4:00 p.m.

September 12, 2011 GRI 103 CEUs: 6 hours DC (elective) Instructor: Thom Brockett Time: 9:00 a.m. - 4:00 p.m.

September 22, 2011 Rockville Location: 9707 Key West Ave Ste. 120, Rockville MD 20850 Short Sales CEUs: 3 elective hours DC, MD & VA Instructor: Jill Pogach Michaels, Esq. Time: 9:00 a.m. - 12:00 p.m.

September 14, 2011 Maryland Codes Ethics Predatory Lending & New Members Orientation (NMO) CEUs: 3 hours MD (required) & DC (elective) Instructor: Prabhjit Singh Time: 9:30 a.m. - 12:30 p.m. NMO- 1:30 p.m. -3:00 Maryland Fair Housing Update CEUs: 1.5 hours MD (required) & DC (elective) Instructor: Prabhjit Singh Time: 3:30 p.m. - 5:00 p.m. September 15, 2011 Broker Supervision CEUs: 3 elective hours MD & DC Instructor: Jill Pogach Michaels, Esq. Time: 9:30 a.m. - 12:30 p.m. 203K CEUs: 3 elective hours DC, MD & VA Instructor: Everett Sands Time: 1:30 p.m. - 4:30 p.m. Credit Scoring CEUs: 3 elective hours DC, MD & VA Instructor: Everett Sands Time: 5:00 p.m. - 8:00 p.m.

September 23, 2011 GRI 105 CEUs: 6 hours DC (elective) Instructor: Valasie August Time: 9:00 a.m. - 4:00 p.m. September 26, 2011 Property Conditions Disclosure CEUs: 3 hours MD (required) & DC (elective) Instructor: Al Monshower, Esq. Time: 9:30 a.m. - 12:30 p.m. MREC Agency-Residential CEUs: 3 elective hours DC & MD Instructor: Al Monshower, Esq. Time: 1:30 p.m. - 4:30 p.m. September 28, 2011 Reverse Mortgage CEUs: 1.5 elective hours MD & DC Instructor: Eric Rittmeyer Time: 1:30 p.m. - 3:00 p.m.

Capital Area Realtor®

Serving the Business Needs of OUR Professionals

2011 July - August

Reverse Mortgage for Purchase: Another Option for Your Senior Clients By Eric Rittmeyer In 1989, the federal government began insuring the reverse mortgage or Home Equity Conversion Mortgage (HECM). Over the last 22 years, the reverse mortgage has helped hundreds of thousands of seniors 62 and over, to remain in their homes by giving them access to a portion of their homes’ equity without requiring a monthly repayment. With the current condition of the economic environment, this loan has become a life line for many people experiencing increased living expenses, but stagnant sources of income. While using the reverse mortgage to keep seniors in their homes has been the sole purpose for this loan, that all changed with the introduction on the Reverse Mortgage for Purchase program. In January 2009, the Federal Housing Administration (FHA) began allowing the reverse mortgage for the purchase of a new home. This has opened up a whole new purchasing opportunity for seniors who want to move to a new home. Using the Reverse Mortgage for Purchase, a senior is able to purchase a new home without having to qualify based on income, credit or health. This is proving to be a powerful tool for homeowners looking to relocate, but are unable to do so using a traditional mortgage which requires income verification and intense credit checks.

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

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

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

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

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

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

GCAAR’s YPN Hosts 2nd Annual Networking Cruise The Potomac River provided the perfect backdrop as GCAAR’s Young Professionals Network (YPN) hosted its 2nd Annual Networking Cruise, July 28. YPN Chair Mia Orantes thanked the group and event sponsors - ATG Title, GCAAR, and Met Life for attending and asked “cruisers” to encourage others to join YPN and participate in upcoming events. Guests mingled, munched, traded business cards and referrals, and enjoyed the balmy summer night along the river. REALTOR® Magazine launched the Young Professionals Network (YPN) in 2006. Through national networking events, a lively blog, and an information-packed web site, YPN gives its members the tools they need to advance their careers — and have fun in the process! Upcoming events include a Top Producer Panel in September and a Holiday Party in December. To join GCAAR’s YPN, go to: or scan the QR code.

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YPN Chair Mia Orantes, with Jennifer Singleton of Windswept Realty

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win $250! $ $ $ $ $ $ $ $ STEP 2: Call Debbie Bell at 301.590.8771

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* Actual Gold Star Sticker is used, not just a star graphic. Only 1 winner per issue. Winner must present the issue of CAR with the sticker to claim winnings. If no winner is identified by CAR’s next mailing, the winnings are forfeited.



Serving the Business Needs of OUR Professionals

2011 July-August

Capital Area REALTOR®

P ublic P olicy Maryland Public Policy Update Maryland General Assembly

The legislative session ended on Monday, April 11 at midnight. A Special Session will likely be held in mid-October to address, among other issues, redistricting. For more information, including a detailed summary of pertinent 2011 real estate legislation, visit the Government Affairs news section at

Recording Fees

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

Montgomery County Legislation ZTA 11-01, Commercial/Residential (CR) Zones ZTA 11-01 is an effort to establish new zones in the CR family. The Planning Board intends to recommend applying new zones to areas where mixed-use is desired but CR requirements may be too burdensome, as well as to land near single-family detached homes. Staff is monitoring the legislation. Bill 23-11, Development Districts, Special Taxing Districts Duplication of Funding Bill 23-11 would prohibit any development district from financing any infrastructure improvement that is or may be financed or credited by any other government agency, and similarly prohibit the White Flint Special Taxing District from imposing a tax to pay for any infrastructure improvement that is or may be financed or credited by any other government agency. Staff is monitoring the legislation. Bill 22-11, Special Taxing District Clarksburg Area Bill 22-11 would create a Clarksburg Area Special Taxing District, consisting of the Clarksburg Village and Arora Hills subdivisions. Staff is monitoring the legislation.

District Public Policy Update WDCAR Speaker Series: Deputy Mayor of Economic Planning and Development Victor Hoskins On July 14, Deputy Mayor of Economic Planning and Development Victor Hoskins addressed REALTORS® as part of WDCAR’s Speaker Series. Deputy Mayor Hoskins discussed a number of economic development projects

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

District Budget Update On June 14, the Council took the final vote on the Fiscal Year 2012 budget. The total FY 2012 budget, including federal funds, is $9.6 billion. The general fund budget, which is supported by local taxes and fees, is $6.36 billion. (The FY 2011 general fund budget was $6.24 billion - a 1.9% increase). PASSED Revenue Increases • $22.6 million - Combined Reporting for multi-state corporations, with amendments that will allow for offsetting tax deductions that minimize the impact • $18.2 million - increase parking garage tax from 12% to 18% • $15 million - limit itemized deductions for residents whose AGI (adjusted gross income) is greater than $200,000 • $13.4 million - elimination of exemption for interest on Out-ofState Bonds • $12 million - increase minimum franchise tax from $100 to $250; firms with gross receipts greater than > $1 million will pay a $1,000 franchise tax • $7.2 million - double weighted sales tax for business tax apportionment • $5.3 million - increase off premise alcohol tax from 9%-10% & extend alcohol sales to Midnight • $3 million - streamlined bank attachments/expedited tax lien collection • $3 million - Department of Motor Vehicle fee increases • $2.3 million - expand sales tax to include security guards and guard services • $1.1 million - change cigarette sales tax from retail to wholesale to prevent “leakage” • Maintaining 6% sales tax - “sunset clause” eliminated

Capital Area Realtor®

Serving the Business Needs of OUR Professionals

2011 July - August

• Elimination of calculated rate for Class 2 commercial properties and fixing the tax rate to $1.65 per $100 of assessed value.

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

REJECTED Revenue Increases • $20.4 million - new income tax bracket: $200,000 and above • $2.3 million - expand sales tax to include live theatre • $1.1 million - Circulator Fare increase of $1

NAR’s Key Federal Legislative Issues

Other Notable Actions Changes to Withholding Calculation to raise a one-time total of $65 million to address short term revenue needs. Details are as follows: • $41 million - excluding the standard deduction from withholding calculation • $15 million - raising withholding from 100% to 110% of prior year to avoid tax penalty • $9 million - withholding taxes from pension and retirement lump sums Development Investments • $64 million for the St. Elizabeth’s East Campus • $48.9 million for the McMillan Sand Filtration Plant • $5 million for the Skyland Shopping Center Tax Revision Commission Establishment Act • Creation of an 11-member body that will be charged with submitting a comprehensive study to the Council and Mayor on the District’s current tax system.

District Legislation B19-136, “Uniform Code Revision Act of 2011” In an effort by the Uniform Code’s office to make DC regulations compliant with other Uniform Codes, this Bill would amend Subtitle I of Title 28 of the Uniform Commercial Code, by revising general provisions, amending negotiable instruments, amending bank deposits and collections, repealing bulk sales, revising documents of title and making conforming amendments to other articles. B19-222, “Uniform Commercial Code Article 9 Amendments Act of 2011” To amend Article 9 of the Uniform Commercial Code, relating to secured transactions, to provide greater guidance as to the name of the debtor to be provided on a financing statement when the debtor is an individual, corporation, limited liability company, or limited partnership or when the collateral is held in a statutory or commonlaw trust or in a decedent’s estate, and to provide greater protection for an existing secured party having a security interest in after-acquired property when its debtor relocates to another state or merges with another entity, and for other purposes. Bill 19-257, “Real Estate Broker Licensure Exemption Act of 2011” This bill would exempt from real estate broker licensure: principals; officers and staff members of an entity that perform leasing activities to the extent that such person’s services are limited to leasing, renting or collection of rents involving real property owned in whole or in part by such entity and/or its affiliates. Staff is closely monitoring the legislation.

Ward Redistricting

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

Stay up to date on NAR’s political activity and access all CALLS for ACTION through the NAR’s REALTOR® Action Center at CALL for ACTION: Proposed Qualified Residential Mortgage (QRM) Regulations NAR recently launched its first consumer Call for Action to six million current or future home owners asking them to support our opposition to a proposed federal regulation that would require a 20 percent down payment on a purchase of a home. Consumers (your clients) can visit for background on the regulation, determine how much money they would need for a 20 percent down payment on a loan and send a letter in opposition to the proposed regulation. CALL for ACTION: Conforming Loan Limits The current Government Sponsored Enterprise (GSE) loan limits are set to expire on September 30, 2011. GSE reform legislation has been introduced in the House and the Senate to reduce the loan limit to $417,000 nationwide, which could significantly raise mortgage costs. NAR has launched a Call for Action and is advocating on Capitol Hill that current GSE and FHA loan limits should be extended to prevent an immediate negative impact on the availability of affordable mortgages. Contact your elected officials and urge them to make the current FHA and GSE mortgage loan limits permanent. CALL for ACTION: National Flood Insurance Program In mid-July, the House passed a 5-year reauthorization of the National Flood Insurance Program (NFIP). The Senate, however, has not yet acted on reauthorization legislation before the current short-term extension runs out September 30. Millions of taxpayers rely on the NFIP and NAR urges Congressional leaders to reauthorize the NFIP for at least five years to end the uncertainty of extensions and shutdowns. Continue to encourage fellow REALTORS® to respond to NAR’s Call for Action if they have not yet done so. Mortgage Assistance Relief Services (MARS) Rule For Short Sales On July 15, 2011, the FTC announced that it will forbear from enforcing most provisions of its MARS Rule against real estate professionals who assist consumers in obtaining short sales from their lenders or servicers. The MARS Rule, intended to protect consumers from mortgage relief scams, affects disclosure requirements for short sales. Real estate professionals acting in their licensed capacity will no longer need to comply with most of the Rule’s requirements, including the required disclosures, advance fee ban, and recordkeeping requirements. The FTC will still enforce the Rule’s prohibition against misrepresentations. NAR will continue to work on obtaining a complete resolution of this issue. Mortgage Interest Deduction (MID) Debate Any changes to the MID, now or in the future, could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth. NAR continues to fight the debate on limiting the MID by voicing REALTOR® concerns in various public forums, as well as aggressively reminding Congressional leaders the economic ramifications of such limits. Real estate professionals are urged to reach out to their representatives against any limitations on the MID, as well as all other homeownership tax benefits.



2011 July-August

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Capital Area REALTORÂŽ

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

Fred Flick 2010 levels.

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

Condominiums and Cooperatives The condo/coop market is still challenged in both unit sales and their prices. In June, sales contracts (235) slipped almost 10% compared to June 2010. Furthermore, the June monthly figures for settlements (222) were down 10%, and the rate of decline has been increasing. In the first six months of the year, settlements (1,105) declined 7% and contracts (1,307) dropped 11% compared to the same period a year before. At this point the condo/coop market is continuing to look for a bottom. Nevertheless, the news on prices has been generally good. Year-todate, through the first six months, the average and median prices were $514,334 and $405,398, respectively. The trend is definitely up from the 2010 annual figures of $495,736 and $400,000. Appreciation has finally returned to county housing markets -- 3.75% increase on the average price and 1.35% on the median priced home.

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

Paralleling condo/coop unit contracts, while single-family prices have found their bottom, average condo/coop prices have slid over the past couple of months. In 2010, a condo/coop unit in Montgomery County averaged $247,274, with the median priced unit costing $207,000. Through June, the (year-to-date) average price was $234,289 -- down 5% from 2010. While the year-to-date median ($185,000) has fallen almost 11% from the 2010 figure, the monthly figures have moved up the last quarter. Fortunately, mortgage interest rates are not likely to rise anytime soon. Nevertheless, with the recent drop in average monthly prices, it is not clear when this market will really turn around. Unfortunately, for condos and coops the only good news is the listing inventory. Declining sales rates and lower prices has pushed the active listing inventory down. They started the year at 880 actives in January, trended down through April to 794 and jumped to about 810 actives in May.

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2011 July - August

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

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

Average prices of single-family homes through the first half of the year are up 4% from 2010, while median prices are up 6%. While the lack of inventory and strong demand throughout the city has certainly resulted in healthy increases, prices are still below the peak of the market in 2007. Median prices are 16% below this high point, while average prices are off 15%. This illustrates the dilemma that some sellers have currently. They are in a good seller’s market with rising prices, but they don’t have enough equity in their home to sell without bringing money to the settlement table. The number of available homes fell 12% from May to June to the lowest level of the year, which was also the lowest point in four-anda-half years. This left 2.42 months of inventory on the market, the second lowest level of the last six years (second only to April of last year which was fueled by the expiration of the federal tax credit). Condominiums/Cooperatives Pending sales of condominiums and cooperatives fell 7% from May to June and were even with June of last years. June was still the third highest sales month of the last 12 months, however. The lower end of the market in the $150,000 to $300,000 range saw an increase of 31% over last year, while units between $800,000 and $900,000 were up 75%. Settlements were down 5% from June of last year.

Economic Policy and Interest Rates Mortgage interest rates are still staying in a very affordable range. Although the Federal Reserve has ceased to buy U.S. Treasuries, no large bumps in interest rates are expected anytime soon. Part of the reason is the financial contagion in the Eurozone -- dollar denominated assets are still in demand - and domestic inflation is still at reasonable levels. Assuming the government raises the U.S. debt ceiling, it is not anticipated that there will be any major changes in rates on intermediate term Treasuries. However, market experts are noting that the 30-year Treasury bond yield has not moved down as much as the intermediate (5-10 year) security yields. This could reflect concerns over the budget, spending, and future inflation. We will have to see how this plays out in early August. Freddie Mac’s mid-July survey showed rates on traditional fixed-rate loans in the 4.5% range and rates are down from earlier in the year. In this survey, the 30-year rate came in at 4.51%. One-year adjustable mortgage (ARMs) rates averaged only 2.97%, down from about 3.25% earlier this year. Fifteen-year loans came in at 3.69% and 5/1-yr. ARMs were slightly more affordable at 3.22%. In Montgomery County, shows lenders offering rates ranging from 4.375% to 4.75%, with no points and 10% down. These figures are consistent with the Freddie Mac survey numbers for 30-year fixed financing. The Fed’s recent indications are that they will continue to keep rates low as long as unemployment is high.

DC Market Report By Fred Kendrick

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

Condo/co-op prices have lagged behind 2010 numbers all year, with average prices off by 4% and median prices off by 2%. These losses have wiped out the gains accumulated in 2010, but prices in the DC condo/co-op market have been more stable since their high point in 2005, compared to single-family prices. Even with this year’s losses, average and median prices are down from 2005 only by 4% and 3% respectively. The inventory of available units fell 6% from May to June and is 10.5% below the same point last year. There was 4.27 months of available inventory at the end of June, and despite the sales losses for the month and the decline in price from last year, this is statistically considered a sellers’ market (with 6 months of inventory considered equilibrium in the market). The condo/co-op market is a bit of a paradox, with some units sitting on the market without any activity and others selling quickly with multiple offers, and it often is a challenge for owners and their agent to gage the correct course. Mid-Year Review The year-to-date sales numbers in the District show single-family settlements down 2% from last year and condominium/cooperative settlements down 9%. The 2010 numbers are a bit skewed from the March and April 2010 buying frenzy caused the rush to take advantage of the expiring federal first-time buyer tax credit. In the second half of 2011 we should get a truer picture of how this year compares to 2010. The best indicator of the market is how sales are performing compared to the available inventory, and with just over 3 months of inventory of homes and units, compared to 9.5 months nationwide according to the National Association of REALTORS), the outlook for the remainder of 2011 remains very positive.



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2011 July-August

Capital Area REALTOR®

Thank You 2011 RPAC Investors! Major Investors: Golden “R” - $5000 or more Mary Antoun Bonnie Casper Jane Fairweather Carole Maclure Dale Ross

Crystal “R” - $2500 Jill Pogach Michaels

Sterling Liz“R” - $1000 Brent Jamie Coley Catherine Czuba Chris Darby Gary Ditto Edward Downs Melinda Estridge Marc Fleisher Carlos Garcia John Gill, Jr. Allyson Hackney Harold Huggins Adrian Hunnings Fred Kendrick Timothy Knobloch Ed Krauze Dana Landry Alana Lasover Judith Levin Suzanne Des Marais Brian Maury Marie McCormack Bo Menkiti Barbara Miles Michael Moran Shelly Murray Frank Pietranton Jr. Leigh Reed Randy Rothstein P. Joy Siegel Frank Snodgrass Christopher Suranna Paolo Verrone Meredith Weisel Holly Worthington

Large Investors: Capital Club - ($250 to $999) Andrea Alderdice Wendy Banner David Bediz Elizabeth Blakeslee John Bragale Liz Brent Jan Brito Nathan Carnes Anita Centofanti Kimberly Cestari J. Knight Champion Melissa Chen Judith Colwell Lori Connor Joe Detrick James Downing Page Eisinger Anne Emmett Andrea Evers Dottie Crago Faust

Meg Finn Gregory Ford Gregory Flynn Jeffrey Ganz Carl Gewirz Martin Green Sally Hamidi Derick Hammond Susan Hand Ellen Hatoum Zelda Heller Mynor Herrera Dorothy Heymann Angela Jones Ellen C. Katz Diana Keeling Elley Kott Tamara Kucik Kymber Lovett-Menkiti Donald Maclure Katie Maclure Charles Matthews Kevin McDuffie Dennis Melby Amy R. Musher Sharon Owens Betty Pair Arelis Perez Leyla Phelan Robert Ramoy Amy Ritsko-Warren Bonnie Roberts-Burke Silvia Rodriquez Joseph Rubin Raymond Ruppert Nancy Schwiesow Martin Signore Brenda Small Mo Snowden Glen Sutcliffe Rachel Valentino Patrick Weed Jearline Williams

GCAAR records as of August 10, 2011.

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

RPAC Helps Protect Your Real Estate Interests RPAC strengthens the REALTORS® political advocacy program through grassroots activities, and federal, state and local lobbying efforts. There’s only one way to protect your investment in real estate - and that’s by investing in RPAC!

The House that RPAC Built brochure shows the strong foundation of your REALTOR® Political Action Committee contributions, supporting legislators who value private property rights. Visit to make your investment in RPAC and watch The House that RPAC Built develop!

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2011 July - August

Q uiz

Staging Savvy As a real estate practitioner, you’re faced with potentially risky situations every day. Meeting new clients, showing homes, and even walking to your car at night can be dangerous. It’s essential that 1. It is five days beforeyou the open and your clients’ living how to 6 . react To make a child’s room look most appealing to prospective makehouse, safe decisions and know when confronted with trouble.

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

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

buyers: A. Decorate the room with growth charts, posters, and school projects B. De-clutter shelves and closets, and move TVs and computers elsewhere C. Paint the walls a bright color such as purple, green, or bright yellow D. All of the above 7 . Which of the following factors plays a role in staging a home: A. The smell of the home B. The layout of furniture C. The backyard landscaping D. All of the above 8 . The best colors for walls in a staged home are: A. A hue that matches the dominant furniture in each room B. Dark colors in bathrooms and basements; light colors in bedrooms and living rooms C. Neutral colors, such as taupe and warm off-whites D. Colors that show off your personality 9 . If carpet in the home is worn, stained, or patterned, what should the seller do? A. Take an allowance off the home price; never invest in new carpeting before a move B. Ask prospective buyers to imagine what a different floor covering would look like C. Cover most of the floor with furniture so the carpeting will be less noticeable D. Replace the worn carpet with a neutral color such as beige 10. To make a laundry room look its best: A. Keep counters and sinks empty and replace wire hangers with white plastic hangers B. Hang clothes to dry and open wash machine to show how the space “works” C. Keep the door closed; it’s not an area of the home that you should show off to buyers D. All of the above

2. When is the best time for sellers to start packing for the move? Correct Answer: Before they list the home for sale Most people pack up after they sell the house, but that’s a mistake. Sellers should start packing as early as possible — before they put the home on the market. Packing early clears the rooms and makes it easy for buyers to mentally move in when they view the home. Sellers don’t have to pack everything, but they should pack up all major items that are not regularly used. 3. When staging a room, you should: Correct Answer: All of the above

continued on page 18



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2011 July-August

Capital Area REALTOR®

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

WeatherizeDC works to bring Green jobs and economic opportunities to local businesses and residents from communities of poverty and high unemployment. The Group is achieving its goal of helping make our area a national leader in home energy efficiency by working with the U.S. Department of Energy and residents, as well as supporting state and local retrofit initiatives. Learn more by going to Then see what you can do by viewing the presentation on the Green Committee’s page at The word on the street on the benefits of growing a greener business… “As consumers become more aware of and interested in conservation, energy-efficient appliances and systems will become more important. An agent needs to utilize every edge out there to distinguish his or her property.” –Elizabeth Blakeslee, Associate Broker, Coldwell Banker Residential Brokerage “The more climate change affects our world and as energy and water costs become more expensive, knowledge about environmental concerns will become an invaluable and necessary tool for REALTORS®. ” – The Roberts-Burke Group

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

QUIZ Answers: Staging Savvy continued from page 17 Cleaning a home from ceiling to floor is one of the first things sellers should do when getting ready for a showing or open house. That includes making sure that all lighting fixtures are clean and working properly. Sellers also should remove a piece or two of furniture from rooms that are heavily furnished and moving it to emptier rooms or to storage. Finally, when staging, you should pick a staging point, or a focal point that will attract buyers when they see the room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano. 4. In staging, the “Rule of Three” states that: Correct Answer: When re-accessorizing, use three items of varying heights on tabletops When staging a home, first de-accessorize by removing all things from counters and table tops, including coffee tables and side tables. Then re-accessorize using the rule of three. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low). 5. Affordable items that can be used for staging include: Correct Answer: Baskets of all sizes and styles, which help conquer clutter and add a decorative touch The other answer choices — shampoo bottles, shoes, and cleaning supplies — are considered clutter and should not be in view when buyers are looking at a home. 6 . To make a child’s room look most appealing to prospective buyers: Correct Answer: De-clutter shelves and closets, and move TVs and computers elsewhere When staging a home, your goal is to make it easy for potential buyers to see

themselves living in the space. Growth charts, posters, and school projects are personal items and will distract those who view the home, especially if they don’t have children. Additionally, bright wall colors can make a room appear smaller. 7 . Which of the following factors plays a role in staging a home: Correct Answer: All of the above A properly staged home will have a pleasant smell (or no smell at all), a furniture layout that complements the size and flow of each room, and well-maintained landscaping that makes the home and outdoor space look its best. 8 . The best colors for walls in a staged home are: Correct Answer: Neutral colors, such as taupe and warm off-whites If wall colors are intense or change from room to room, your house will appear to be smaller than it really is. You also risk startling buyers as they walk through the home, drawing attention away from the property. The best wall color is warm, yet so subtle that you may not even notice it. If walls are in bad shape or the paint is an unappealing or distinctive color, repainting is a must. 9 . If carpet in the home is worn, stained, or patterned, what should the seller do? Correct Answer: Replace the worn carpet with a neutral color such as beige Buyers remember nice carpeting, and it’s often a major factor in a decision to buy. Why? Most buyers simply can’t envision a different carpet in a home. Even if you offer an allowance, you may have already lost the buyer. Your best bet is to re-carpet; beige works well with most furnishings and flows well from room to room. 10. To make a laundry room look its best: Correct Answer: Keep counters and sinks empty and replace wire hangers with white plastic hangers Buyers will be impressed if the laundry room is fresh, inviting, and organized. Make sure light bulbs are working, and hide soaps in a cupboard or line them neatly on a shelf. Never hang laundry while showing the house.

Capital Area Realtor®

Serving the Business Needs of OUR Professionals

2011 July - August



2011 July-August

Serving the Business Needs of OUR Professionals

Capital Area REALTOR®

Capital Area REALTOR® July/Aug 2011  
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