YOU'VE HEARD IT ALL before: Beauty is only skin-deep. Don't judge a book by its cover. But when real estate is on the line, many home buyers opt to file such grade school lessons under "nice but naive." After all, a building's outer shell signals the difference between a cookie-cutter high-rise and an architectural tour de force with serious curb appeal.
"The perception of buying a condo has changed, and with it has come the whole movement towards luxury buildings," says Joe Himali, a Realtor and the founder of Best Address Real Estate (Washingtonsbestaddress.com). The Georgetown-based firm was inspired by James M. Goode's 1988 book about Washington's "Best Addresses," ($65, Smithsonian), a veritable who's who of residential architecture. Taking a cue from Goode's book, Best Address Real Estate prides itself on helping buyers score homes with architectural cachet.
Himali credits the trend to re-embrace urbanism as responsible for condos' shift toward opulence. As a result, these days, designer condos often hold rank with tony rowhouses.
FOR SOME ASPIRING HOMEOWNERS, phrases like "as is" or "fixer-upper" sound as ominous as "termite infestation" or "nuclear power plant views." Still, there are many nesters itching to rehab a Queen Anne on the Hill or a Federal rowhouse in Old Town, creaky floors, tiny closets and decrepit bathrooms be damned. Ingrid Abramovitch's book, "Restoring a House in the City" ($40, Artisan), stakes a claim that older homes can be livable and lovely. We chatted with her about the book, which chronicles hot properties from D.C. to Brooklyn.
» EXPRESS: What's the siren call of owning an older home?
» ABRAMOVITCH: People recognize that they just don't build houses like these anymore. These places were made by hand, by craftsmen who used exquisite materials, like first-growth wood paneling. They're gorgeous. It's so short-sighted when people remove things like that due to current fashion.
» EXPRESS: How can you update an old house without destroying its soul?
» ABRAMOVITCH: It's a question everyone who undertakes a restoration needs to ask. But I don't think there's a cardinal sin when restoring a house, except thinking that older houses are museum pieces and that they can't be relevant to modern life.
Continue Reading "Real Estate Rehab: Renovating Historic Properties" »
THOSE ASPIRING TO own real estate who didn't think they'd make the deadline for a tax credit now have eight thousand more reasons to buy: On Nov. 6, the government extended the $8,000 tax credit for first-time homebuyers for another six months. Instead of expiring on Nov. 30, buyers now have until April 30, 2010 to sign a contract for a home.
In addition, the Worker, Homeownership and Business Assistance Act of 2009 authorized a tax credit of up to $6,500 for existing homeowners trading in for new digs. Both credits are aimed at getting people who would have bought a place in the next few years to hurry it up a little. The government's hoping that driving up home sales will help shore up the economy.
We checked in with three people you'll be seeing a lot of if you decide to take advantage of these deals — a Realtor, a mortgage expert and an accountant — to find out how you can maximize your financial savings if you decide to buy.
Continue Reading "Savings Splurge: Local Experts on Federal Tax Credits" »
WHEN YOU WERE a kid, practicing your John Hancock on frosted wintry windows was a time-honored tradition (when Mom wasn't looking). These days, though, the thrill has faded — not only are you the one who has to clean the windows, but more significantly, lingering dew signals inefficient windows and costly heating bills.
"As a country, we have to make every home efficient," says Cindy Olson, the vice president of D.C.-based sustainable consulting firm Eco-Coach (Eco-coach.com). This time of year, that means weatherizing your home, and it applies to condo dwellers every bit as much as it does to house owners.
Olson holds certifications in energy auditing, sustainable agriculture, holistic management and more, which equips her to teach sustainable practices for both the business and home fronts.
Continue Reading "Winterizing Your Condo: Outsmarting Colds" »
WHEN CARYLYNN LARSON and her husband, Ben, purchased a house in Clarendon last May, they unwittingly bought into a tricky situation. As owners of a one-bedroom condo in Rosslyn at a time when their neighbors— places were selling for much less than their original asking prices, the Larsons thought they had just two options: Put their condo back on the market, knowing that it would sell for less than it was worth, or rent it out in hopes of earning a little extra to put toward their new mortgage. They picked the latter.
"The decision was really based on the market," says Carylynn Larson, 30, who is the president and acting executive director of the nonprofit Rock Recovery. "We would have preferred to sell the condo, but the market is so bad. I bought that condo at the top of the market, so we would have had to take a hit for it."
Continue Reading "Rental Management: Key Lessons From Landlords" »
ADAM'S MORGAN
Condo: Kalorama
1831 Belmont Road NW #204
» $370,000: You'd hardly realize Adams Morgan debauchery — of the 18th Street strip variety — lies just half a block away from this elegant 1911-built mid-rise on leafy Belmont Road. This 822-square-foot condo — being sold as a short sale — sits on the second floor right next to the fire escape. The place contains two disproportionately sized bedrooms (one is huge, and the other feels more like a den), a small bathroom with a tub/shower and a roomy living room. Windows let in plenty of light, though a new owner would be smart to invest in some nice curtains to cover the unfortunate views of trash bins below and boarded-up windows next door. The old-timey building offers a touch of charm but also a notable lack of central AC. The corner kitchen is petite but shiny-new. (Listed through Saab Realtors.)
Continue Reading "Price Point: Comparing Real Estate Sales In and Around D.C." »
YOU CAN'T CHANGE the world from your kitchen table. OK — you can, but it's much more pleasant to do it in a space that feels like your own, is efficient and looks great.
If you're joining the millions of Americans taking the Great Recession as an opportunity to start something new — to go back to school, to launch a business or to just pick up a small job on the side to bring in extra income, you'll need a space that's dedicated to your work. And, of course, if you have papers strewn everywhere, that'll put a damper on your creative process.
Lauren Halagarda, a certified professional organizer, productivity expert and the owner of the Organization Connection in Alexandria (2OrganizeU.com) says the biggest issue she sees with her home office clients is paper — by far.
Continue Reading "Desk Dilemma: Organizing Your Home Office" »
HOMEOWNERS, NEVER UNDERESTIMATE the value of being in the virtual loop. That's the lesson learned this summer by residents of the Rhapsody, a 162-unit condo building at Vermont and Florida avenues NW.
When a small fire suddenly sparked in one wing of the high-rise, it set off the sprinkler system, which, in turn, caused damage in many units. Unlucky residents in that part of the building might not normally have had much interaction with their neighbors at that point, but the community's Yahoo listserv came to the rescue.
Almost instantly, messages of good tidings flooded the listserv as neighbors offered help — and their homes — to those in need.
"It really helped create a sense of community, and it has sort of drawn us together," says the listserv's moderator Mike Dembski, 54, an information technology professional.
Continue Reading "Neighborly Networking: Web Sites Foster Friendship Among Condo Owners" »
THINK YOUR HOME is less polluted than a city street?
Think again. According to the U.S. Environmental Protection Agency, Americans spend, on average, about 90 percent or more of their time indoors, where levels of pollutants may be two to five times — and occasionally even more than 100 times — higher than outdoor levels.
Grossed out yet? You're not alone. In June, Acting Surgeon General Steven K. Galson issued "The Surgeon General's Call to Action to Promote Healthy Homes," hoping to start a dialogue about how our homes can affect our well-being.
Expect Glenn Fellman to participate in that discussion. As the executive director of the Rockville-based Indoor Air Quality Association and Indoor Environmental Standards Organization, Fellman has 20 years of experience addressing indoor environmental concerns. He knows all about the allergens, pollutants and other things that can make your nose itch, eyes water and head hurt. Luckily, he also knows how to keep them out of your house.
We asked Fellman for tips on how to breathe easier at home, and then we found products to help you enjoy the great indoors even more.
THERE'S NOTHING quite like the jingle of extra pocket change to revive shoppers' capitalist urges. For many first-time home buyers, a tempting trifecta — low interest rates, accessible price points and the $8,000 first-time buyer federal tax credit — is pushing newbies from the sidelines and into the bullring.
"There has certainly been a surge in the under-$500,000 market, especially with condos," says Realtor Andrea Evers of Evers & Co. in Dupont Circle. "We expect a condo frenzy in the next couple of months as people try for that credit."
Whether the tax credit will rescue the flagging housing market remains to be seen, but some agents can't help but feel cheery watching the flood of first-time buyers jockey to outbid each other for prime real estate in the Washington area.
The tax credit expires Dec. 1. Translation? The time to hesitate is over. "Every buyer that is considering [purchasing] a home should make a move very fast," says Martina Burns, Realtor with RE/MAX Allegiance. "There's lots of competition out there."
Continue Reading "Neighborhoods to Watch: Where to Buy Your Condo" »
Addison Road