A Feature in UrbanTurf & Coronavirus Market Insights

We love when our listings get noticed by local real estate blogs like UrbanTurf. Check out their recent article about how the current DC market is benefiting sellers due to the lowest supply of inventory for April in 10 years.

We’re putting new listings on the market during this time and would love to help you if you’re thinking of selling!

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Our listing at 142 Kentucky Ave SE sold for $51,000 above list price in less than a week!

Real Estate in the Time of Coronavirus

Our dear friend and colleague, David Bediz, recently authored an article in The Blade on the current state of the market in the time of Coronavirus. Kara was quoted about her recent listing on Capitol Hill that just sold for $51,000 above list price. Check it out here.

“Some properties, like the recent listing at 142 Kentucky Ave., S.E. in Capitol Hill, listed by my colleague Kara Johnson, received three offers and sold in just 4 days.

Kara, a long-time agent at Keller Williams Capital Properties, attributes her success to the character of the property, its price and the desirability of the location. “It just fits for so many buyers out there. It was a great price and it was move-in ready,” she said.”

For more insight on the current market, contact us!

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Kara Top Agent in KW MD/DC Region for March

Kara was the top-producing individual agent for the month of March in the Keller Williams Maryland/DC Region. We are humbled by this honor and the privilege to continue to serve our clients during the global health crisis. Please let us know how we can be of assistance in any way during this time. We are here for you.

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Market Prep Matters: A Return on Your Investment

Whether you’re moving across the country for a new job or want to upgrade to a larger space, Kara and Wayne are here to support throughout the process of preparing your home for sale. We will ensure it makes the best possible impression on the market. Most homes need a bit of design help and staging, and some need more attention. After an initial tour of your property, Kara and Wayne will prepare a customized plan and budget to get your home ready for the market.

We know your home is also an investment and you want to benefit from the best return the market will support. So, is the market preparation work worth it? Yes! A few strategic upgrades can add value to your property and make it show well to buyers. Design updates and staging will appeal to that feeling buyers get when they tour a home. It will make them want to say “this is the one!”. Keep in mind, buyers buy with their heart and not always with their head. This added value can lead to a higher property value and higher list price and ultimately yield a higher sales price. Take a look at a couple of our recent examples.

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Wayne’s recent one-bedroom Coop listing in Kalorama only had an arched opening between the living room and the adjacent bedroom. With no door to the bedroom, the appraiser was inclined to appraise it as a studio. After discussing this with the sellers, they quickly saw the value of adding French doors to the opening. For a small added cost, they also added an arched transom to maintain the architectural integrity of the original 1917 apartment. The cost of the materials and labor was $4,600 and added $10,000 to the appraised value. This structural update combined with a fresh coat of paint and chic staging yielded a full-price offer!

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Kara’s spacious two-bedroom boutique condo listing on Capitol Hill felt a bit dated and drab having been last renovated in 2003. At Kara’s suggestion, the seller chose to make some minor kitchen and bathroom updates, add a fresh coat of paint and invest in professional staging.  This investment of about $6,000 meant that we could list the condo for $10,000 more than we would have without the cosmetic updates. These strategic updates highlighted the large kitchen and allowed this sunny corner unit to shine, ultimately resulting in multiple offers and a sales price of $18,500 above list price.

You’re In Good Hands When You List With Kara and Wayne

This September, Kara and Wayne kept busy preparing listings for the market and, of course, representing buyers! 

Our approach is full-service and hands-on. We customize our services according to your needs. We will coordinate everything from replacing lightbulbs and re-caulking to kitchen and bath updates. Since we also work with buyers, we are experts in what today’s buyers are looking for.

When you work with us you get agents who have:

  • More than 15 years of experience
  • Sold over 190 homes
  • An Average List Price-to-Sold Price Ratio: 102.74%
  • Median Days on Market: 6
  • Exceptional customer service throughout the entire process

What does that mean for you? 

We use our years of experience, hyper-local market knowledge and expertise to get you top dollar in the shortest amount of time possible. 

A little about our process, we will:

  • Guide you throughout every stage of the sale of your home
  • Tour your home with a buyer’s eye and develop a personalized plan and coordinate any and all repairs and updates needed to make your property shine
  • Oversee the professional staging so your home will make the best first impression
  • Advise you on pricing strategically for the current market
  • Market your home through the Multiple Listing Service (MLS), social media, email blasts, the expansive Keller Williams International network, and hundreds of consumer sites 
  • Negotiate fiercely on your behalf to get you the best value for your investment 

Check out some of our Before and After photos from recent listings:

3-Year Low in Interest Rates Lead to Savings for Home Buyers

Add a heading-4.jpgLast week mortgage rates remained at a 3-year low of 3.6 percent. One year ago in August 2018, the mortgage interest rate was 4.53 percent. What does that difference mean for your wallet? Our friends at UrbanTurf calculated the impact of this lower interest rate on monthly payments for a home with an $800,000 purchase price and a 20% down payment. The lower interest rate led to a savings of $345 a month, $4,140 per year, or $124,010 over the life of the loan! If these low rates have you considering a purchase, here are a few steps to get started:

  1. Schedule a meeting with Kara and Wayne. At the consultation Kara and Wayne will walk you through the buying process and assess your needs and wants.
  2. Know your budget and get pre-approved Kara and Wayne can provide names of local reputable lenders who can meet the financing timelines needed in the competitive DC market.
  3. Refine your wish list. Once you’ve identified and discussed your desired locations and criteria with Kara and Wayne, start to narrow down what is a “Must Have” vs. “Would be Nice”.
  4. Don’t do this alone. Why do you need an agent? With Kara and Wayne, you get real estate professionals on your side with extensive knowledge of the DC market, dedicated allies in negotiations, and even access to listings before they come on the market. Kara and Wayne can help you create the most competitive offer possible and win your dream home.

If you would like more information or to start a conversation, reach out to Kara and Wayne, today!

Helpful Links for First-Time Home Buyers

DC Home Prices Break June Records

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Prepared by the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

The median price for District home sales reached a new June record of $620,000 last month, according to the Greater Capital Area Association of Realtors (GCAAR).

  • The median home price in June was up 2.75% from the June 2018 median sales price of $603,000.
  • This is up 57% percent from the June 2010 sales price of $385,000.
  • The total number of June home sales, 857, was down relative to June 2018 – 890, representing a 3.7 percent decline.
  • Finally, half the homes sold in June were on the market 16 days or less prior to contract,  which is much less than the 26 days on market in June 2018.  

The recent GCAAR release provided the following analysis, “Supply remains scarce relative to demand, continuing to drive a strong seller’s market.”

Kara and Wayne are ready to represent you!

 

Great Spots to Check Out the 4th of July Fireworks

It’s the 4th of July, which means it’s time to celebrate America’s Independence with family, friends, food, fun and of course, fireworks. This year the fireworks display will be nearly twice as long as previous years! Don’t feel like making the trek down to the Mall or braving the crowds to catch a glimpse of the fireworks? Great news, both Curbed DC and Thrillist have given us some suggestions on unexpected places across the city to check out the show. Here are a few of our favorites!

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Kara named Top Agent in Washingtonian magazine!

We are excited to announce that Kara was recognized for the 5th year in a row as a Top Agent by Washingtonian magazine! Each year, the magazine recognizes agents and teams who produced among the highest sales volumes in the DC area. With over 23,000 licensed agents* in the DC Metro area, we consider this quite an honor. Kara is among the 39 Keller Williams Capital Properties (KWCP) individual agents and teams to make the 2019 list. KWCP has more than 1000 agents across 7 offices in DC, Maryland, and Virginia. We are so proud to be part of this amazing, hardworking KWCP team! We feel unbelievably grateful to our friends and clients for their continued support. 

*The Greater Capital Area Association of REALTORS® represents more than 11,000 members from Washington DC and Montgomery County, Maryland and the Northern Virginia Association of REALTORS® has more than 12,000 members.