Matthew's Musings on Real Estate and the World

6514 Nevitt Way Alexandria is under contract

2010-03-26T12:27:00.000-04:00

Under contract and awaiting short sale approval!

New listing at 1724 5th Street NW

2010-03-26T12:26:00.000-04:00

MORE THAN A “HANDYMAN’S” SPECIAL. Built in 1900 and in the family for 2 generations, this siding on wood shingle home is one of the last remaining semi-detached rowhouses ready for straight-forward restoration in the neighborhood (not in an historic district!). Located 2 blocks from Shaw metro, 4 blocks to Howard University, 6 blocks to the Convention Center, and ½+mile to U Street landmarks like Ben’s Chili Bowl and the Lincoln Theater. This 2-level, 3 bedroom/1 bath house sits behind an approximate 20’ X 18’ front patio area. At the back of this 1,770/.04 acre lot (per tax record) is a 2-story barebones brick carriage house that has excellent small in-law suite or home office potential. Well suited to an investor full rehab or homeowner’s FHA 203k project, attractively priced at $290,000 (Proposed 2011 DC tax assessment is $293,860 just for the land, and $398,560 in total).

Always check your home insurance when vacating your home!

2010-01-25T11:54:00.000-05:00

In the event that you will be vacating your home for a month or more before selling it, be sure to check what the terms of your home/condo insurance policy is. Frequently, insurers will terminate your policy if it goes unoccupied for a month or more. Make sure your protected!

Please note I am not endorsing compuquotes, I just think the overview they've written on the subject is a good one.

Cheers,

Matt

2 Really Nice Client Testimonials

2010-01-11T11:11:00.000-05:00

Vinnie Panizo (November 2009 purchase)

Matthew was the 2nd agent I worked with when buying a new apartment in DC. Both he and the first came highly recommended but after a few weeks of working with the first agent I felt frustrated and unheard so, I decided to test the waters with Matthew. What I got was the über agent: responsive, thorough, tactful, persistent, a genuine advocate, committed to me getting the home that I wanted, he always found an answer to my questions, and he offered excellent advice and gave me the space to make my own decisions. Matthew handled the frustrating and drawn out elements of my home purchase beautifully and made sure that I got everything that I was entitled to in the final negotiations. I’ve heard a lot of stories about people’s experiences with their real estate agents some good some not so good. Matthew got high praise before he worked for me and now that I’ve worked with him I can genuinely offer that same high praise to anyone else looking for an agent.

Len Hirsch & Kristian Fauchald (July 2009 purchase)

“Matthew dealt with the purchase of a condo and subsequent contingent sale of my house with great professionalism, thought and success. He listens well, understands the market well, and puts together the whole package very effectively. I absolutely recommend him to anyone.”

Settlement/Title Companies and Title Insurance

2009-11-27T10:28:00.000-05:00

I get asked frequently what is the difference between the settlement/title company and title insurance, and why does one have to buy title insurance. If you look around on the internet, you'll find it's not well explained. I am including here 2 web pieces that I think explain pretty well what this is all about.

The settlement company is also known as a title company, and they are a neutral party to the transaction responsible for ensuring that all the contractual requirements and documentation for the buyer and seller is brought together so that they can "settle" the property on closing day. While the closing cost fee is often very modest ($300-$500), the other costs of settlement, including what can be pretty expensive title insurance is where their real money is made. More or less, they really earn their fees because it can be a time consuming process to ensuring that the property is free of liens or other encumbrances that could come back to "bite" the new owners.

Settlement companies also serve as agents to particular title insurance companies, which back the findings with a guarantee to pay back to the lender any losses if the property ends up not actually being free of encumbrances. Encumbrances are wide ranging, from unexpected government easements that may diminish the value of the property to former owner or spouses who never actually consented the properties sale. The title insurance and the settlement company are guaranteeing this not just for the most recent ownership situation, but for all time before...which can decades to hundreds of years.

There are 2 types of title insurance, and I always advise that you buy both of them. The first is insurance that you pay for on behalf of your mortgage company, should they experience any loss from future title issues. That's fine for them, but what about for you? To protect you too, you should buy an owner's title supplement as well at the same time. That way, the bank is not only protected for its losses, but you are protected for any losses you might experience.

Title insurance isn't cheap, but it is important. Here are a couple of links that you may find helpful reading:

Title insurance in the U.S.

Settlement companies and title insurance

How do you get those darn No Parking signs for Moving day in DC?

2009-11-27T09:26:00.000-05:00

For anyone who has ever moved to or in Washington DC, you are probably familiar with how confusing it is to get the No Parkings signs you may need to put in front of your new home for the moving truck.

I'd like to say it's easy - and oftentimes it is - but it can also be an ordeal...and that's just the way it is in DC.

Even if you hear you need to go to the DDOT for this, DON'T. You need to get No Parking signs from the police station closest to your new home. You should pick them up about a week in advance, because you have to put them up at least 72 hours before moving day.

How do you find out where your closest local police precinct is? Here's a handy website:

Your local police precinct by address

If you'd like to read someone's personal story of the rigmarole see:

Moving Signs Rigmarole

Lastly, a bonus "blogette", here's how to find out where your nearest electoral polling place is:

How to find Your nearest DC polling place

Fortunately, registering to vote is easy in DC...you can do it simultaneously with getting/renewing your Driver's License.

Welcome to DC!

Ever wonder what day your garbage will be picked up?

2009-11-27T09:09:00.000-05:00

Do you ever wonder what day your garbage will be picked up?

I have had a number of Washington DC clients who understandably wanted to know when their garbage would be picked up at their new home.

It's easy, just enter your address at this website: DC Collection Days

Matthew Roberts Realtor - A little about me

2009-11-26T09:23:00.000-05:00

Greetings All,

I've decided to start a blog in which I can answer people's frequent questions about home buying, owning, and selling in the Washington DC, Maryland, and Northern Virginian areas. From typical questions from clients - like, when do they come to pick up my garbage? - to getting parking/moving signs, I will try to get you accurate and timely answers that will help make your home purchase, move, ownership etc. as easy as possible. I will also share my perspectives on the local market, and I will incorporate those of others through citing articles and such.

For my very first blog, what's probably most in order is to give you a brief biography:

Licensed in Washington DC, Virginia & Maryland, I specialize in contemporary condos and lofts, townhouses, and luxury homes. I'm part of Long & Foster - Woodley Park. Long & Foster is the largest real estate company in the mid-Atlantic region. With over 40 years in the business, we have become the largest and most respected privately-held real estate firm in the country! We've built a reputation that defines excellence in home buying and selling.

The role of a real estate agent is to guide you through the buying or selling process, taking the time to make sure you understand every step of the transaction. I am absolutely committed to fulfilling your needs with the highest level of professionalism, expertise, and service. My commitment to your satisfaction is the foundation on which our solid business relationship is built.

I bring a unique and valuable set of skills to the competitive real estate business, honed over the course of a very successful career in international development. For example, I designed and managed SMARTWork , a Program with 30 talented staff in 6 countries across four continents. While incredibly rewarding work, it was time for me to bring it home—literally. I came to real estate wanting to assist people one-on-one to achieve the concrete and measurable goals of home ownership.

What I have found is that what I applied across the globe -- project management, thorough research, detailed analysis, coaching and training others, and artful negotiation -- are incredibly effective in realty.

Here are just a few real achievements for my clients (names changed):

Finding John and Winston the exact kind of condo they wanted and negotiating a $60,000+ price reduction and ratified contract in just 3 days.

Negotiating nearly $50,000 off the price of a townhouse for Sharon, who had little cash to bring to the table but a stable job with a decent salary.

Helping Jason shave nearly $20,000 off the list price for a new construction condominium being sold by the developer’s sales office. Hint: even with new construction projects, it pays to have your own agent!

Getting Tom’s one-bedroom “understated” investment condominium sold in a reasonable amount of time, and at a decent profit, during last year’s buyer-friendly soft market.

Securing Don and Pat’s perfect home and getting them into it at over $50,000 less than asking, in spite of the owner being a reluctant seller who said he wouldn’t budge.

Of course, the best testaments to the quality of my service are the referrals and words of appreciation from satisfied clients. It is often said that if you follow your heart, the money will follow. I have found that to be very much the case in real estate...

Your success really is my satisfaction.

matthew.roberts@longandfoster.com

My First Blog

2009-11-06T19:19:00.002-05:00

This is just a test to be sure my blog is blogging!