Two Upcoming Customer Appreciation Events
Kitchen and Bath Remodeling; Creating More Useful Space
I am pleased invite you to two free home improvement events this month (Saturday mornings) at our Bethesda office. On January 23 from 10:30am - 12:30pm, come learn from the experts about kitchen and bath design, the product selection process, latest trends and much more. Educate yourself on how to devise a plan that works and what steps homeowners need to know before spending a dime on their kitchen or bath remodeling project.
Then, on Saturday January 30, from 10:30 am - 12:30pm, we will present space utilization ideas. Whether it’s reconfiguring existing space or adding new, this seminar will address creative ways to make your home work better for you and your family. The experts will discuss basements, in-law suites, home offices, exercise rooms, play rooms, creative storage ideas and more.
Lunch will be provided. The seminars will be held in our conference center at our offices: 4701 Sangamore Road, Bethesda, MD. RSVP: 301-229-4000 or Hill@HillSlowinski.com.
W.C. & A.N. Miller Realtors: Impressive 2009 Performance
2009 Sales were Faster and for More Money
Once again, statistics show that for 2009, we out-performed our colleagues. W.C. & A.N. Miller Realtors sold our clients’ homes on average faster and for more money than other real estate brokers.
For example, the average time it took to sell homes priced over $1,000,000 was 85 days in Washington and 72 days in Montgomery County. We sold our listings in an average of 64.8 days – a week faster.
The average price paid for $1,000,000+ homes in Washington was 92.67% and, in Montgomery County, was 92.73% of list price. We averaged 94.19% of list price for our clients.
We experienced similar impressive results in 2007 and 2008, and we are pleased to continue to provide excellent service to our clients. These statistics are based on records provided by the Metropolitan Regional Information Systems*, our local multiple listing service.
New RESPA Regulations, HUD-1 Effective January 1, 2010
New Good Faith Estimates, HUD-1 Form Provide Benefits to Borrowers
Changes under the Real Estate Settlement Procedures Act provide some improvements to borrowers, making it easier to compare loan terms and committing lenders to stick with their quoted fees.
The new Good Faith Estimate (GFE) will be uniformly used by all lenders so that borrowers will be able to compare settlement charges and loan terms being provided by different lenders. Lenders will be committed, for the most part, to honor the estimates provided. The new GFE will represent all the costs of the entire transaction. The costs are not specified as to whether those costs are borne by the buyer or the seller. The GFE will not include taxes, insurance, homeowner association or condo fees, as those are separate from the loan. It is expected that with the loan transaction information, buyers will be able to make better informed choices among lenders.
The new HUD -1 settlement statement is designed to provide more transparency and clarify to the settlement process. The HUD-1 will be synchronized with the GFE and will show the figures from the GFE on the final settlement sheet. The new GFE is likely to encourage greater consumer shopping for home loan products.
Selling or Buying Soon?
Review Your Preparations NOW
If you are planning to sell, buy or lease in the coming months, call me now for a complimentary consultation to review your preparations for auction, sale, lease, or purchase.
If you are selling, I’ll give you my free Homeseller's Handbook for planning your strategy. In preparing for a home sale, I will identify items that can enhance the presentation of your home and elevate it above the competition.
If you are planning to buy, I’ll provide my free Homebuyer’s Handbook and I’ll help you evaluate the target market and identify home and neighborhood characteristics you want. We will review what is available and what is likely to come on the market in the near future.
Finally, if you have property to lease, now is the time to list it for occupancy within the next 2-3 months, and I’ll guide you on licensing requirements and the necessary federal and state disclosures.