I Am Woman, Hear Me Roar!

Single women are the fastest growing group of home buyers in America. Single women accounted for 22% of all home buyers in 2006, up from 14% in 1995, according to the National Association of Realtors. The number of single men buying homes declined from 11% in 2003 to 9% in 2006. Surprisingly, home sales to married couples declined from 70% in 1995 to 61% in 2006. The numbers herald a significant shift in the home-buying market.

The shift parallels changes in American society that include women's rising status in the work force, delayed marriages, higher divorce rate with fewer remarriages, and greater longevity. According to Elizabeth Weintraub on About.com, the top three reasons single women buy a home are:

• Strong desire to own her own home.
• Need for more space or need for a smaller home.
• Desire to relocate closer to job, school or family.

Women have some distinct preferences in home buying. As a group, they prefer city dwelling to suburban life, condos over single-family homes, smaller spaces, security features, 2 or more bedrooms, and older construction. Women will compromise on cost and size to get other amenities but won't compromise on location or neighborhood quality. Proximity to stores, shopping and fitness centers is particularly important to women.

If you are a single woman shopping for a home, veteran realtor John Day can help you find the home of your dreams. Particularly attuned to the single woman's hectic lifestyle, John understands your need for an efficient home search. You'll find John a good listener, attentive to your needs, a strong ally in the complicated business of finding just the right home in the right neighborhood.

John Day won't waste your valuable time dragging you to homes that don't meet your criteria. With his intimate knowledge of local Maryland and Washington DC neighborhoods, John is more apt than other realtors to find that perfect niche you're searching for. And when you do find your dream home, you'll value John's aggressive negotiating style and expert contract writing skills. John will guide you through the entire home-buying process from pre-qualification to closing and even help you get acclimated in your new community. John Day cares about his clients and will go the extra mile to ensure your complete satisfaction.

Visit John's website and take a look at the newest listings. Read John's Home Buyers' Guide packed with valuable tips. Call John today and start down the path to becoming a home owner. If you're buying or selling a home in Maryland or the Washington DC metro area, John Day is your key to success.

Credit Card Debt Can Hurt First-Time Buyers

For most techno-savvy young people, checkbooks are a thing of the past. Where their parents used checks to make everyday purchases, the younger crowd swipes a debit or credit card. Many use credit cards to take advantage of the purchase points and other premiums offered by their card company. Some simply find it more convenient to have a single record of their monthly purchases. What many first-time buyers don't realize is that carrying a monthly credit balance can hurt them when they apply for a mortgage.

Carrying a credit card balance can hurt your credit history and score, warns Ilyce Glink in her column Real Estate Matters. "Some credit card companies report your balance as if you had maxed out your credit limit." Glink suggests obtaining a copy of your credit history from each of the three credit-reporting bureaus. You can do this once a year for free at AnnualCreditReport.com. You should then pay for a copy of your credit score which will run you $5 to $7 from the same site, depending on the credit score you choose.

"Lenders are used to seeing credit card balances and can adjust for them," assures Glink. Lenders generally allow your mortgage, interest and taxes to account for 28% of your gross monthly income and 36% of your debt. If you carry balances on your credit cards, your lender will deduct the minimum monthly payments from the total amount of debt you can carry. "The result is you'll qualify for a smaller mortgage," says Glink. She recommends paying off credit card balances if possible before applying for a mortgage to improve your credit picture.

Veteran realtor John Day offers lots of tips and information for both first-time and experienced home buyers on his dynamic Homes Buy Day website. His Buyers' Guide is packed with valuable information and practical tips gleaned from his years of experience as a top real estate agent with prestigious Long & Foster Realtors. Click the post title or link to learn more about the ins and outs of buying a home. John also offers a great guide for home sellers on his website.

If you're buying or selling a home in Maryland or the Washington DC area, give John Day a call. You'll find John easy to talk to and extremely knowledgeable about the various communities and neighborhoods in the area. John has the resources and expertise to help you find your dream home in the perfect community for your family. If you're buying or selling a home, John Day is your key to success.

First-Time Buyers Need to Consider "Hidden" Costs

If you're a first-time buyer, it's difficult to figure out how much house you can afford. There are a number of "hidden" costs unknown to the inexperienced that can throw off your initial calculations.

"There's a lot more to a mortgage payment than the loan amount and interest rate," warns Dana Dratch writing on bankrate.com. "Extras such as property taxes, homeowners insurance and private mortgage insurance can add 20% to50% to your monthly payment."

Many of these extra costs vary with the home, location, type of loan and amount of down payment. Your mortgage or real estate professional can give you detailed information on a specific home, but you can use the general guidelines below to make some initial rough estimates.

• Homeowners insurance. "A good rule of thumb is $3 for every $1000 of the loan amount annually," said Jennifer Gavre, a Wachovia mortgage executive. That's about $600 annually on a $200,000 home. Home insurance is typically paid a a year in advance so plan on paying the first year's insurance at closing. The next year's premium will be prorated and added to your monthly loan payments. Homeowners in a hurricane zone can expect to pay 2 to 4 times as much.
  
• Flood insurance. Your lender will probably require you to purchase flood insurance if you live in a flood-prone area (termed a 100-year flood plain). The cost will depend on how close your house is to the flood zone, but you should plan on $150 to $200 per year. Again, you'll pay a year in advance at closing with subsequent years prorated as part of your monthly payment. You should be aware that flood insurance usually covers only the structure of your home. You may have to buy additional insurance to cover the contents.
  
• Property taxes. The taxman always cometh. To estimate your property taxes, figure 1% to 1.5% of your home cost per year, Gavre said. That's $167 to $250 a month on a $200,000 home. Note that your tax bill may not be the same as the seller's. "Some states limit tax hikes while the property is owned by one person, but the tax bill can change -- sometimes drastically -- when the property is sold," explained Mike Fratantoni, a senior economist with the Mortgage Bankers Association.
  
• Mortgage insurance. As this protects the lender if you default on the loan, it's usually required if you put less than 20% down on the mortgage. "It's tricky to calculate because the rate depends on your credit rating, the amount of money you have in reserve, the amount you put down, the type of loan and the price of the house," Dratch explained. On a $200,000 home, estimate $140 to $300 a month.
  
• Association dues. If you buy a condominium, you'll pay a monthly association fee. Association fees may also be levied by some single-family home communities. Budget about $200 to $223 a month.
  
• Maintenance. When you live in a house, things can go wrong. Roofs leak, water heaters wear out, gutters need to be cleaned, the bedroom needs a new coat of paint. It's best to set aside at least $100 a month for those little unexpected surprises. (Complaining to your neighbor is free!)

As you can see, those little extras add up. On our $200,000 house, that's $669 to $941 more each month than you may have originally budgeted. And that doesn't include the prepayment of insurance premiums at closing. Before you start your home search, talk to your real estate and mortgage professionals about how much house you can afford. There's no point in looking at homes that sell for $500,000 when your budget can realistically accommodate homes in the $250,000 price range. The mortgage pre-qualification process can help you more accurately determine what you can afford to spend on housing.

If you're buying a home in Maryland or the Washington DC metro area, talk to veteran realtor John Day. You can rely on John's experience and expertise to guide you through the home buying process from pre-qualification through closing. Using his extensive knowledge of the area, John can help you find the home you want at a price you can afford. Visit John Day's website and read his valuable Buyers' Guide (just click the link or post title). On John's website you'll also find helpful information on local communities and schools. Check out the latest listings, then call John Day and let him find the home of your dreams. If you're buying or selling a house in Maryland or the Washington DC area, John Day is your key to success.

Avoid Common Decorating Mistakes

"To err is human; to forgive, design. The dos and don'ts of interior design are not carved in stone," wrote Lee Stratton of the Columbus Dispatch after interviewing Columbus, Ohio designers.

Most interior designers agree that creating a pleasing environment is largely a matter of personal taste. However, there are a few rules of thumb that can help you avoid common decorating mistakes. Try these tips from Columbus area designers:

• Don't line up the furniture against the wall. "It looks like a doctor's office waiting room," said interior designer Kathy Vincent. Try L- or U-shaped furniture groupings that come away from the wall and into the room.
• Don't clutter a room with scattered photos, plants or knick-knacks. "Less is more," Vincent admonished. Group similar items and pare the number down to your favorites to create dramatic displays.
• Don't use a lot of puny scatter rugs; they make a room look disjointed. One good-sized rug or no rug at all is best.
• Don't overpower a room with a huge TV. "Scale is important," reminded designer Marlene Medick. Most 60-inch TVs are too big for a 12x14-foot room.
• Don't skimp on the window treatments. "Windows can be a huge focal point in a room," said designer Susan Matrka. Window treatments should be scaled to the size of the window, use ample fabric, and be lined to help maintain shape and prevent sun rot.
• Don't put chair rails where you don't have chairs. Chair rails are designed to protect walls from marks when a person stands and scoots his chair back. They're incongruous where chairs are not used, like in hallways or going up a stairway.
• Don't mismatch door edges. The visible edge of an open door should be the same color as the side of the door that shows. Doors are often painted different colors on each side to match the woodwork inside and outside a room. As designer Debbie Cameron explained, "When the door is open and against the wall, you don't want to see the hall color on the face of the door and the bedroom color on the edge."

These simple decorating tips will help your home look its best. And they'll definitely help your home sell if you're putting your house on the market. For more tips on getting your house ready for sale, visit John Day's website and read his valuable Sellers Guide. It's packed with tips and information gleaned from John's years of experience as a top-selling realtor with prestigious Long & Foster Realtors. If you're selling or buying a home in Maryland or the Washington DC metro area, give John a call. John is an expert at creating curb appeal. He knows all the tricks and will stage your house inside and out so it will sell quickly and for the best possible price. If you're selling or buying a home, John Day is your key to success.

Why Internet Marketing Is Vital to Home Sellers

Real estate advertising is shifting hard from newspapers to the internet, according to an article by Timothy Mullaney for Business Week Online. While real estate ads in daily papers increased 19% in 2006, industry consultants say the trend is already starting to move toward the internet. "The internet real estate ad market, now about $2 billion, will pass the now $4.3 billion newspaper ad market by 2010," experts predict.

The advertising shift is lagging actual shopping patterns. Over 70% of home buyers begin their home search on the internet. In fact, print ads, which are paid for by the real estate agent, not the home seller, provide a relatively poor return on the advertising dollar. But old habits die hard and many sellers expect their agents to advertise in every available medium.

So what sells homes? Recent National Association of Realtors data provide an interesting insight into home buyers' behavior. The breakdown below shows on how buyers are most likely to find the home they purchase:

• 36% are directed to their home by an agent.
• 24% find their home online before they consult an agent.
• 15% notice their home while driving past a yard sign.
• 5% find their home in a newspaper ad.

Savvy sellers know that internet exposure is the key to selling their house quickly. Many real estate agents today post listings and open house schedules on their own websites, or at least on a company website. But not all websites are equal. NAR studies have shown that weblistings featuring six photographs of the home sell better than those that show only one or a couple of photos. Buyers want to learn as much as they can about your home before they decide to make time in their busy schedules to visit. A virtual tour coupled with accurate information and an enticing description of the home's features and attributes.

Veteran realtor John Day makes savvy use of the internet to market his client's homes. He has developed the dynamic Homes Buy Day website to reach thousands of potential buyers in the Maryland and Washington DC metro area. John will create an attractive visual tour of your home, showcasing its best features to entice buyers. He employs a full-time webmaster to ensure aggressive web and search marketing. Of course, John also makes aggressive use of print media, direct mail, professional contacts, open houses and all the other traditional selling methods home sellers have come to expect. But it is John's dynamic and aggressive use of the internet -- today's most potent home selling tool -- that sets him apart.

Visit John's website and learn about his dynamic marketing plan for selling your home. Check out John's local listings to see what John is doing for other sellers. Then contact John and let him put his skills, experience, resources and energy to work for you. If you're selling or buying a house in Maryland or the Washington DC area, John Day is your key to success.

Smart Renovating for Resale

Television shows like Flip That House are intriguing, but sometimes misleading. What you don't see is the background research that makes it a certainty the remodeled house will sell, and sell at a high enough price to make a profit on the owner's investment. From watching such shows, homeowners may mistakenly believe that when they decide to remodel their home, the sky's the limit. They think they'll recoup their investment from even the most extravagant remodeling projects. Nothing could be further from the truth.

If you're remodeling your home strictly for your own pleasure and needs and plan to stay in your home, by all means, create the home of your dreams. You're probably not worried about getting your money back when you sell. But if you only expect to live in your home for a few years, you don't want to overprice your home with expensive remodeling projects that are beyond the neighborhood norm.

Before starting a remodeling project, plan carefully and you'll avoid the possible pitfalls.

• Don't over-improve your home. Remodeling projects should be compatible with neighborhood competition if you want to get your money back at resale. Visit a few open houses to see what you're competing against. Concentrate on improvements that most buyers want, like bathroom and kitchen remodels or finishing the basement. Realize that updates the home buyer can't see, like new wiring or plumbing, may be necessary but are unlikely to add to your home's resale price.
  
• Do your homework. Read magazine and newspaper articles and talk to friends and neighbors who have tackled the same project. Page through project books and start collecting pictures of what you want to do. You'll find helpful books at the library, bookstores and home improvement centers. Go down to the home improvement center and talk to the staff. You'll find them knowledgeable and helpful. Many offer project planning and management services and some even have classes for do-it-yourselfers.
  
• Know when to call in the pros. Remodeling projects often require adjustments to your home's electrical, plumbing, heating/cooling or other systems. Such improvements may require permits and will have to meet building codes. Hire licensed professionals in these areas to insure the work is done properly. You may want to hire a general contractor to oversee the project and manage those areas best left to the pros. He'll have the experience to properly estimate the costs and the resources to ensure quality professionals are hired.
  
• Keep a close eye on your wallet. Talk to other homeowners to find out what similar projects cost. For work you plan to hire out, get three written quotes to make sure everyone's in the same ballpark. Remember, you get what you pay for. A quote that seems too good to be true probably is. And don't hire a contractor on a handshake, pay more than 30% up front for material purchases, or pay in cash without a receipt. You won't be able to deduct undocumented expenses from your house basis when you sell. (The IRS frowns on that.) When you determine your a budget, add 10% for contingencies and don't allow yourself to be persuaded into purchasing unnecessary and expensive extras.
  
• Make a plan and stick to it. Once you've decided on a remodelling project and budget, make a work plan and stick to it. Don't let a spouse or neighbor or contractor talk you into something you don't need or out of something you really want. Indecision and last-minute changes eat up time and money and will frustrate your family. Talk to your contractor and come up with a workable strategy for living in your home during construction. For instance, if you're remodeling a bathroom, you'll want to make sure the plumber is scheduled ahead of the tile crew to avoid costly delays. And you'll definitely want to make sure the plumber is scheduled early so you're without water (and toilet and shower facilities) for a minimum number of hours.

If you're contemplating a remodeling project, give veteran realtor John Day a call. If you live in Maryland or the Washington DC metro area, he can give you some practical advice on what buyers in your community are looking for. When you're ready to sell your remodeled home, you'll want to call John again so you get the best price possible on your investment. Visit John Day's website to read his valuable Tips for Sellers. If you're selling or buying a home in Maryland or the Washington DC area, John Day is your key to success.

New Tax Advantage for Home Buyers

2007 brings a special tax advantage for certain home buyers and refiancers. For one year only, Congress has added private mortgage insurance (PMI) to the list of allowable income tax deductions, writes Sue Stock of McClatchy Newspapers.

Lenders generally require home buyers to purchase PMI when they finance more than 80% of a home's value. The usual cost is 0.5% of your loan's value, or $75 a month on a $180,000 loan. That adds up to $900 by the end of the year, a fair chunk of change.

There are a few caveats that may prevent you from cashing in on this new tax break:

• The new deduction is valid only on purchases and refinancings that close in 2007.
• It can only be taken on income taxes to be filed by April 2008.
• To take the deduction, your adjusted gross income for the year cannot exceed $110,000 if you're single, $55,000 if you're married, filing separately.

It's best to check with your tax preparer to see whether you qualify for this new deduction. If you do, it's one more reason to purchase a home in 2007. The PMI deduction is another nice tax break for home buyers. Let's hope Congress extends this deduction to future years.

There are significant advantages to buying a home in 2007.

• Real estate inventories are up.
• The sluggish 2006 market has forced many sellers to lower their prices.
• Interest rates are low.
• Income tax advantages are favorable.

Realtor John Day can help you find your dream home in 2007 so you can capitalize on today's favorable market conditions before they're gone. The market is showing signs of recovery and interest rates won't remain low forever, making early 2007 a prime time to invest in a home. A seasoned professional and top agent with prestigious Long & Foster Realtors, no one knows the Maryland-Washington DC real estate market like John Day. Visit John's website for valuable information for both buyers and sellers. Check out the latest home listings. On John's website you'll also find important information on communities, schools and loans that will assist you in your home-buying quest. If you're buying or selling a home in Maryland or the Washington DC area, John Day is your key to success.

How to Improve the Winter Air Quality in Your House

With the windows closed up tight during the winter, the air inside your house can get not only stale, but dangerous say health and environmental officials.

Pollutants build up over the winter. "The accumulation of dust, mold, spores, volatile organic compounds, tobacco smoke, radon and carbon monoxide can make the air quality inside a house 5 to 100 times worse than the air outdoors, according to the US Environmental Protection Agency," writes Lee Stratton for the Columbus Dispatch.

Ironically, the cause seems to be improvements in the energy efficiency of homes over the past three decades, says John Petersen, director of environmental studies at Oberlin College. "By sealing up your house, you are sealing in those toxins."

Poor air quality affects us all but takes a particular toll on people with asthma, allergies, compromised immune systems and other respiratory ailments. Try these simple measures to combat poor air quality in your home:

• Use carbon monoxide detectors and radon testing kits to monitor levels of these deadly gases.
• Carbon-based air cleaners can remove some of the dust and allergens from the air.
• Maintain an indoor humidity of 35% to 50% to combat viruses and bacteria that thrive in dry environments. Clean humidifiers and change filters annually.
• Mold and mildew multiply in moist environments. Use exhaust fans to eliminate excess moisture from kitchens and bathrooms, making sure they vent to the outdoors.
• Keep your home clean to minimize pet dander and dust mites that may trigger asthma or allergies. Wash bedding weekly in 130-degree water and vacuum with a sweeper equipped with a HEPA (high-efficiency particulate air) filter.
• Change your furnace filter monthly using pleated or dense filters with a MERV (minimum efficiency reporting value) rating of at least 8.
• Minimize the use of hazardous chemicals. Choose paints and water-based wood finishes that have a low content of volatile organic compounds. Choose water- or citric-based cleansers over those containing solvents.
• Use pump-action spray bottles instead of aerosol when possible.
• Include houseplants in your decor. Research shows they can improve air quality. One good-sized houseplant (6 to 8-inch diameter container) per 100 square feet of living space is recommended.
• When the thermometer rises out of the deep freeze, occasionally open the windows for an hour and let in some fresh air.

John Day and his team at Homes Buy Day want you to enjoy living in your home. Check this blog for tips, trends and interesting tidbits geared to help you enjoy life as a homeowner. When you're ready to buy or sell your home, you can rely on the expert advice of veteran realtor John Day. Visit John's website to check out the latest local listings. Read his valuable tips for buyers and sellers. If you have questions about real estate or the Maryland and Washington DC metro areas, contact John Day. If you're buying or selling a home, John Day is your key to success.

Fixed-rate Mortgages Regaining Popularity

Uncomfortable with rising interest costs on their adjustable-rate mortgages, thousands of homeowners have switched to fixed-rate loans in recent months. With interest rates near their lowest in the past 40 years, the dependability of fixed-rate mortgages is attracting homeowners anxious to lock in their loan rate before interest rates start to climb again.

Throughout 2006 the Federal Reserve Board pushed up short-term interest rates, boosting the cost of adjustable-rate mortgages while long-term rates remained flat, explained Eileen Alt Powell writing for the Associated Press.

Attracted by the long-term security and budget predictability of fixed-rate, long-term loans, homeowners are choosing to pay a bit more for a fixed-rate mortgage to avoid the risk of rising interest rates on adjustable mortgages. "We're seeing a lot of people who are saying they'd rather pay half a percent in rate and have the security of a fixed loan, particularly given that the absolute level of rates is down," said Jim Svinth, chief economist at LendingTree.com, an online mortgage marketplace.

In the final week of 2006, adjustable-rate mortgages fell to 20.4% of all mortgage applications, the lowest percentage since mid-2003 and well below the all-time high of 36% in March 2005, according to a survey by the Mortgage Bankers Association in Washington DC. The climate for fixed-rate loans is so favorable that many homeowners are choosing to refinance and lock in fixed interest rates on 25 and 30-year loans. According to the Association, half of all mortgage applications in the last quarter of 2006 were for refinancing, and December applications reached a 14-month high.

Low rates for long-term mortgages make this a particularly good time to invest in a home. Real estate expert John Day can help you find the home of your dreams in Maryland and the Washington DC metro area. Savvy and experienced, John knows the market and the neighborhoods and can help you find the perfect house in the perfect community -- and he'll negotiate the perfect price!

A top agent with prestigious Long & Foster Realtors, John Day will guide you through the confusing and complicated process of buying a home from pre-qualification to closing. Visit John Day's website to view the latest real-time listings in Maryland and the Washington DC metro area. Visit John's Mortgage Information Center for valuable tips, calculators, loan information and lender recommendations. If you're buying or selling a house, John Day is your key to success.

8 Costly Mistakes No Home Seller Should Make

If you are selling a home in today's competitive market, you have to work hard to make sure your home stands out from the competition. In his invaluable report, 8 Costly Mistakes No Home Seller Should Make, veteran realtor John Day tells you what you can do to make certain your home moves to the top of buyers' wish lists. Drawing on his years of experience as a realtor in Maryland and the Washington DC metro area, John says the worst mistakes a seller can make are:

1. Not enhancing your home's curb appeal.
2. Failing to look at your home as if you were a buyer.
3. Inadequate marketing.
4. No knowing how to price your home to sell.
5. Offering explanations about your home during showings.
6. Being inflexible or unwilling to compromise.
7. Attempting to hide problems with your home.
8. Trying to sell your home without a realtor.

You will want to read John Day's full report before you put your home on the market. An expert at staging homes for quick sale at top dollar, John reveals his secrets for getting your home ready to sell and making it desirable to buyers. Drawing on his experiences as a top seller at prestigious Long & Foster Realtors, John shares his powerful marketing tips proven to bring buyers to your door. Providing plenty of useful and practical tips, John coaches you on everything from setting the selling price to open house behavior to negotiating the deal.

If you're selling a home, you need to read John Day's invaluable report, 8 Costly Mistakes No Home Seller Should Make. To order your free copy today, call John's free message line at 888-559-9686, ext. 8604 . Visit John Day's website for more excellent advice for sellers. Just click the post title. If you're selling or buying a home in Maryland or the Washington DC metro area, John Day is your key to success.

Time Is Right to Buy a Home

High inventories + low interest rates = a great time to buy a home!

It doesn't take a math whiz to figure out that right now is the perfect time to buy a home. If you've been waiting for the right time to buy your first home, this is it. If you've been thinking about moving up to a larger or more luxurious home, the time is now. Today's high housing inventories and low mortgage rates have created a perfect climate for home buyers. But don't wait too long, inventories are slowly decreasing, who knows how long today's low interest rates will last, and the start of the spring buying season is just around the corner. That perfect window of opportunity is slowly closing and you don't want to be left out in the cold.

"The latest sales data show a small buy unmistakable uptick in activity and declining unsold inventories," reports Kenneth Harney of the Washington Post in his column, The Nation's Housing (click the post title to read his column). At the end of 2006, the National Association of Realtors reported a slight increase in existing home resales for the second straight month. Concurrently, the Commerce Department reported a small rise in new home sales which caused builders' unsold inventories to drop to their lowest level since last February. "All of this suggests that the 18-month market correction that followed the 4-year housing boom has just about run its course," says Harney.

With prevailing mortgage rates currently less than a point above 40-year lows, the housing market is ripe for eager buyers who have been waiting for just the right moment to buy. About those interest rates, Harney warns, "they won't be around indefinitely, so a fairly priced house combined with a near-historic low-cost mortgage adds up to a potentially great deal."

In today's market, buyers still have the upper hand, but change is in the air. Harney cautions buyers, "Smart shoppers should recognize that the game is changing and the spring buying season is on the horizon. Lobbing lowball offers at already marked-down properties isn't a winning strategy."

Your best strategy is to be well-informed. Harney says buyers and sellers "need to plug themselves into all the key data that shape pricing and deal making -- time on the market, inventory declines and increases, overall pace of sales, average gap between asking prices and closing prices." The best way to plug in is to contact veteran realtor John Day. With plenty of experience in the Maryland and Washington DC metro real estate markets, John is your front-line expert. John knows what's happening in the local market and has a winning strategy designed to get you the best possible deal.

Visit John's website to check out at the latest listings. Make sure you read his Home Buyer's Guide. It's packed with tips and valuable information for first-time and experienced buyers alike. (There's a great guide for sellers too!) Then call John today and tell him what you're looking for. John Day can help you find the home of your dreams and buy it at the best possible price. Whether you're buying or selling, John Day is your key to success.

$how Me the Money!

Zany Zillow.com is at it again! The newest feature on the popular home-price valuation website, Make Me Move is a cross between television's Show Me the Money and MySpace for homes. While it lacks William Shatner's dancing girls and pumped up studio audience, it's fun to check out.

Here's how it works: Zillow.com allows homeowners to "post a price -- no matter how absurd -- that would inspire them to hand over the keys to an unsolicited buyer, even if the house isn't really for sale," explains Mary Umberger writing for the Chicago Tribune. Along with the owner's often outrageous asking price, Zillow.com posts its estimate of the home's value. Many of the "sellers" seem to have taken an "if I won the lottery" approach to setting their asking price. But that's the fun of Make Me Move. It appeals to that little streak of greed and ego in all of us. The big WHAT IF?

One thing that's clear on the website is that these owners are passionate about their homes. One of the first to list on Make Me Move, Chicago condo owner Mark Beekman posted a lengthy description of his 4-year old home complete with a mini photo album. His asking price of $599,000 was $150,000 over Zillow.com's estimated value. "I thought if I was going to hang it out there, I ought to shoot for the hills," Beekman declared.

When I checked out the site I didn't see any buyers in a hurry to plunk their money down. But then does anyone really want to pay a premium of several hundred thousand dollars for a home? Still, it's fun to see what people think their homes might be worth. Bring on the dancing girls!

If you're serious about selling your home, Zillow.com obviously won't get you anywhere, particularly in today's buyer's market. It takes an intimate knowledge of the local real estate market, extensive local resources and contacts, an aggressive personalized marketing plan, and a savvy and experienced realtor to successfully sell your home. It takes someone with the proven track record of veteran realtor John Day. A top seller at prestigious Long & Foster Realtors, John has the experience, knowledge and resources to sell your home quickly for the highest possible price.

If you're selling or buying a home in Maryland or the Washington DC metro area, call John today. Visit John's website and check out the latest real-time listings. Make sure you read his valuable tips for sellers and buyers. John Day has the local market knowledge, real estate experience, proven track record, and commitment to his clients to successfully sell your home. If you're selling or buying a home, John Day is your key to success.

Why You Need a Realtor When You Sell Your House

With the sluggish housing market, homeowners often think they'll save a few bucks by going the "for sale by owner" route. They look at the commission they'll pay a realtor and think, "I can do that myself; how hard can it be?"

Harder than you think. You wouldn't think of operating on yourself to save a surgeon's fee, why risk what is probably your greatest investment? Realtors are skilled professionals with the knowledge, experience, resources and skill to get you the maximum amount of money in the shortest period of time. In a difficult market, you have an even greater need for their skills and expertise. In fact, a recent study conducted by the National Association of Realtors determined that sellers who used a real estate agent sold their homes for 16% more than those who didn't!

What about all these "do it yourself" websites that are springing up? They seem to offer the advantages of a realtor without the fee. Their come-ons can be appealing to unknowledgeable home sellers. But it's like trying to diagnose an illness using WebMD. There are so many variables involved in selling a home that while a real estate website can give you extremely general advice, it cannot tell you what works in your local market. For that you need the knowledge and experience of a local realtor.

Selling a home is a full-time job, one most people are ill-equipped and unprepared to manage, particularly while they are working, caring for a family, packing to move and trying to find a new home in a new location. Selling a house is also a complicated process requiring specialized knowledge of contracts, lending products and state laws. A professional realtor is uniquely trained and licensed by the state. He has the proper skills and knowledge to make sure that the sale of your home goes quickly and smoothly.

• He has the necessary experience with your local real estate market to analyze the market and determine the best asking price.
• He has access to multiple industry listing services so your house will be seen by thousands of potential buyers. And he has the marketing experience to create a listing that will entice potential buyers to come tour your home.
• He has the resources to aggressively market your home and makes full use of print media, direct mail and the internet. Particularly savvy agents will have websites, blogs and internet newsletters that make full use of this powerful tool to bring more potential buyers to your door.
• He knows how to stage a house to sell, knows how to manage a successful open house, and has the real estate connections to make sure your house is on everyone's radar.
• He is a skillful and aggressive negotiator who will be your fierce advocate and get you the best possible price for your home.
• He has the expertise to prepare contracts and disclosures that meet all state requirements and laws. He has the knowledge to manage all aspects of the closing and the experience to solve any problems that arise along the way and so that the closing goes smoothly.
• He has the interest in and dedication to his clients to listen patiently, answer all their questions, and provide expert advice throughout the selling process.

If you're selling your house, a professional realtor will save you time, money and considerable aggravation. Just remember, not all real estate agents are created equal. Few have the experience, knowledge, resources and expertise of veteran realtor John Day. A top seller for prestigious Long & Foster Realtors, John Day has extensive experience in the Maryland and Washington DC real estate markets. John Day meets and exceeds every single one of the criteria listed above! John Day is the realtor his colleagues seek out when they need advice. Think what he can do for you!

Visit John's website today and read his valuable tips for sellers. Take a look at his featured listings to see how he'll use the internet to market your house. Give John a call and find out what he will do to sell your home. List your home with John Day, then sit back while he handles all the details. John will sell your home quickly and for the best possible price. If you're selling a home in Maryland or the Washington DC metro area, John Day is your key to success.

2007 Real Estate Predictions

The news has been full of conflicting messages about the housing market. What does 2007 really have in store? In his January newsletter, veteran realtor John Day takes a look into the crystal ball to see what's likely to happen in the Maryland and Washington DC real estate markets. Click the post title to read John's predictions in their entirety.

There's no shortage of buyers. To put things in perspective, 2001 was touted as a record year with 5.25 million existing home sales. With mortgages still low, "right now we're at a pace to sell 6.28 million home in 2007," John says. Not exactly the doom and gloom in the headlines.

Supply is the problem. Even with strong demand and predictions of high sales volumes, there are just too many homes on the market. Right now nearly 4 million homes are listed for sale, nearly two-thirds of the total expected sales for the entire year. "At the current sales pace," John says, "it would take between 7 and 8 months just to sell the homes currently listed without adding any new listings."

The effect on the market. "With so many choices, buyers are getting picky, looking for deals, expecting incentives, and taking their time to buy the house of their dreams," explains John. The result is that houses are taking longer to sell and competition is forcing prices down.

How did this happen? In the closing days of the dot.com boom, savvy investors wary of the stock market plunked their money into real estate. Previously stagnant markets started to grow, spurring more investing until speculation became rampant, accelerating the speed of appreciation and setting sales records. "Because of the frenzy, home values increased faster than a more realistic market would have allowed," John explains. In 5 years the national median sales price increased by 55%, luring an increasing number of homeowners to put their houses on the market in the hopes of cashing in on record profits.

What should have happened? Real growth in unit sales value since 2001 is actually 19%, John points out. Accounting for inflation and the fact that scarcity adds value, average home values should have increased 32% over the last 5 years, not 55%.

What will happen in 2008? "Since we have already seen some decrease, an informed guess could be that prices fall as much as another 8% nationally, in some areas more, some less," John predicts. But he cautions that local factors will make a huge difference in how fast the market turns around in any particular area of the country.

You'll find lots of information on local Maryland and Washington DC real estate markets in John Day's informative monthly newsletter. (Click the post title or access the newsletter under "Tips" on John's website.) An experienced realtor and top agent with prestigious Long & Foster Realtors, John Day has his finger on the local pulse. He can tell you how the Maryland and Washington DC housing markets are apt to react to local pressures. Visit John's website for valuable tips for both buyers and sellers, school and community information, and to view the latest listings. If you're buying or selling a house in Maryland or the Washington DC metro area, John Day is your key to success.