July Festivals and Events in the DC Area

The Washington, DC area and its surrounding communities in Maryland and Virginia host lots of annual festival and special events.  Here are just a few, for a full list and detailed information, visit dc.about.com.

Hip Hop Theatre Festival
July 7-12, 2008. Enjoy a variety of performances of both new and established hip hop music by national and international artists.

Alexandria Birthday and Independence Day Fireworks
July 12, 2008, Oronoco Bay Park. The annual event includes children’s activities, a concert performed by the Alexandria Symphony Orchestra, birthday cake and a fireworks extravaganza.

White House Summer Garden Tour
July 12, 2008, 10 a.m. – 4 p.m. Visit the White House grounds and explore the beautiful gardens. Free tickets are required.

Screen on the Green
Mondays, July 14-August 11, 2008. See free outdoor movies on a gigantic screen on the National Mall.

Occoquan River Festival
July 27, 2008, 10 a.m.-10 p.m. Occoquan Regional Park and surrounding attractions in Occoquan, Virginia. The first annual event will include a Taste of Occoquan, live music, family fun walk and other events focusing on the 400th anniversary of John Smith’s initial journey on the Occoquan River with a re-enactment of his landing and culminating with a parade of lights along the river.

Loundoun County Fair
July 28 – August 2, 2008. Family fun includes a carnival, rodeo-bull riding, dairy show, goat show, horseback demonstrations, magic acts, pet shows, floral exhibits, obstacle courses, tug-of-war, live musical entertainment and more.

June Festivals and Events in the DC Area

The Washington, DC area and its surrounding communities in Maryland and Virginia host lots of annual festival and special events.  Here are just a few during the month of May, for a full list and detailed information, visit dc.about.com.

Alexandria Waterfront Festival
June 14 & 15, 2008. Oronoco Bay State Park in Old Town Alexandria, Virginia. The event includes historic tall ship tours, live entertainment, arts & crafts exhibits and a children’s sea hunt adventure.

Reston Town Center Taste of the Town
June 14, 2008, noon-10:30 p.m. Enjoy a variety of food from the region’s finest eateries, live music, activities and games. Admission and parking are free. Tastings start at $1.

National Capital Barbeque Battle
June 21 & 22, 2008. If you love barbecue you’ll love the food samples, cooking demonstrations, interactive displays and children’s activities at this sizzling summer festival on Pennsylvania Avenue, NW between 9th & 14th Sts.

Smithsonian Folklife Festival
June 25-29 and July 2-6, 2008. Celebrate cultural traditions from around the world. The Festival includes daily and evening music and dance performances, crafts and cooking demonstrations, storytelling and discussions of cultural issues. This is one of Washington, DC’s most popular summer devents.

DC Caribbean Carnival
June 28-29, 2008. Enjoy the colorful parade and festival with live performances from local and international artists, food, crafts and entertainment.

Montgomery County Heritage Days
June 28-29, 2008, 12-4 p.m. More than 30 historic sites in Montgomery County, Maryland showcase the county’s rich history with free music, dance, food, and children’s activities.

Check Commute Costs Before Buying

When you’re stuck in traffic, you have time to think.  Should I have left home earlier?  How bad will my commute be in five years?  Would life be easier and cheaper if I found a job someplace the roads aren’t as crowded and the homes aren’t so expensive.

These are all things you should consider when buying a new home.  Always do a trial commute during rush hour before you make an offer on a home.  Time the ride and estimate your gas consumption.  If you’re thinking about taking public transportation, price out the weekly expense.

As you size up neighborhoods, take the time to figure out whee you will worship, buy groceries, go to the movies, enroll the kids in dance class or pick p an extra gallon of milk.  Is bus or rail service available, even if only as a backup for days when your car is in the shop?  Will your children be able to ride bicycles to the pool, or does a six-lane highway make that too dangerous?

It’s easy to underestimate your total transportation budget when you househunt on a quiet Sunday afternoon.  And misjudging your travel needs can derail your after-purchase budget.

Source:  Elizabeth Razzi, The Arizona Republic 6-8-08

Rent a Vacation Home and Save

High fuel costs and a shaky economy aren’t causing all travelers to cancel their summer vacations, but they are prompting people to look for ways to stretch their dollars.

One way of getting more for your money: hit the Internet to find a vacation rental instead of a hotel room, gaining space and possibly saving a couple of bucks. 

Renters have a variety of sites to consider when looking for a rental: Zonder.com, VRBO.com, CyberRentals.com and craigslist.org.

Here are three ways travelers can ensure they’re getting the best rental:

• Ask for more photos. While many of these Internet listing sites offer several photos of the property, you may want to ask for more of them 
• Ask specific questions. Ask the owner for recommendations of nearby supermarkets, where to get breakfast, the proximity to area attractions or any other features you’re interested in 
• Do more investigating. Web tools such as Zillow.com can give you an idea of the property’s value, and Google Earth can help confirm the area’s surroundings. 
• Know what is included. Some rentals provide necessities such as linens, others don’t. Know exactly what is provided so you’re not caught off guard when you arrive.

Full Article

Source: Amy Hoak, The Wall Street Journal, 5/25/08

New Financing Guidelines for Anyone with 4 or More Financed Properties

Effective August 1, 2008 Freddie Mac will NO longer allow financing where a borrower owns more than 4 financed properties, the previous number of properties allowed by Freddie/Fannie was 10.  This is a significant change and will impact anyone who has 4 or more financed properties.

If you or someone you know owns more than 4 properties (including primary residence, 2nd home and investment properties) it is important to immediately consider the following:

 1. If you own more than 4 financed properties and any of your loans are on an adjustable rate you have a 30-45 day window to get those loans refinanced to a 30 or 15 year loan.  If you do not do this now you will be stuck with an adjustable rate loan indefinitely.  If the terms on your adjustable rate are not good then you need to refinance now.

2. If you are looking to purchase a property you need to do it now!  If you already own 4 or more properties and are looking to purchase a new one and wait you will find it much more difficult to obtain financing and will most likely encounter higher rates and greater down payment requirements for using a bank that does not follow Freddie Mac and Fannie Maes guidelines.  

These new guidelines will have a huge impact on many of us as we build our investment portfolios.  If you have any questions, need to refinance or buy a property before the deadline, contact me right away at Maria@SolerEnergyProperties.com or 602-366-5073.

Arriving at a Price for your Home

The Washington Post recently had some tips on how to price a home if you’re selling:

• Don’t base the price on what you paid or what your neighbor got a few years ago.
• Do examine the pries of homes for sale in your neighborhood, as well as the prices of comparable homes that have sold in the past three to six months.
• Don’t pick a real estate agent because he or she suggested the highest list price.
• Do pick a real estate agent who offers a thoughtful explanation for the price he or she is suggesting
• Don’t go overboard with remodeling.
• Do make minor improvements so your home is in as good or better shape than the competition.
• Don’t set your price based on emotional attachments.
• Do ask your real estate agent to reasses the price every few weeks to make sure your asking price is in sync with the market.
• Don’t be stubborn.  If weeks go by without any offers, the price most likely does not reflect the value of the home.  It’s time to consider cutting the price.
• Do be patient.  You might have to wait longer for buyers to pull money together know that lenders have toughened their standards.

These are great tips that will put you in the right mindset to get your house sold.  If you’d like to discuss any of these or are just wondering what your house may be worth, contact me by email at Maria@SolerEnergyProperties.com or call me at 602-366-5073.

Home Price Drop Accelerates

Home-price declines are accelerating nationwide, pushing a hoped-for turnaround in the housing market further down the road.

The Standard & Poor’s/Case-Shiller index that measures home prices in 20 major metro areas dropped 12.7% in February from a year earlier — the sharpest decline in the data’s two-decade history.

Areas of the country that saw the greatest run-ups in prices in the first half of the decade are now seeing some of the steepest declines. Home prices in the Las Vegas, Miami and Phoenix markets fell in February by more than 20% from a year earlier.

 Even after sharp drops for more than a year, however, home prices in Los Angeles, Miami and Washington, D.C., remain more than double their levels at the start of the decade.

Full Article

Source: Sudeep Reddy, The Wall Street Journal, 4-30-08

 

Stagnant DC Area Market Has Ups and Downs

The District far outshone its suburban neighbors in housing prices in 2007.

As median sales prices fell in Northern Virginia and grew by only a smidgen in suburban Maryland, the price of single-family houses and townhouses in Washington rose 7 percent.

In 2007, the median price was $480,000, up $30,000 from the year before.

For the full article, click here.

Source:  Barbara Ruben, Special to The Washington Post

May Festivals & Events in DC

The Washington, DC area and its surrounding communities in Maryland and Virginia host lots of annual festival and special events.  Here are just a few during the month of May, for a full list and detailed information, visit dc.about.com.

National Cathedral Flower Mart
May 2-3, 2008, 10 am-5 pm. Enjoy the grounds of the cathedral, floral displays, children’s activities and musical entertainment. Free admission.

Passport DC - Open Houses at Washington, DC Embassies
May 3-17, 2008. A new event, sponsored by Cultural Tourism DC, features a wide range of performances, talks, and exhibits at DC’s foreign embassies.

Cinco de Mayo Festival
May 4, 2008, noon-6 pm. The annual Latino celebration features live music and family entertainment on the National Mall.

Spring Garden Party at Mount Vernon
May 10-11, 2008. Just in time for Mothers Day, enjoy a festive Spring Garden Party at Mount Vernon with free wagon rides through Washington’s fruit garden and nursery.

Food & Wine Festival at National Harbor
May 16-18, 2008. The upscale, waterfront festival is part of National Harbor’s grand opening. Enjoy food and wine pairing, artisanal and organic products, lectures on culinary and wine trends and more.

Taste of Arlington
May 18, 2008, noon-5 pm. Wilson Boulevard, Arlington, VA. Enjoy a lively street festival, complete with local entertainment, children’s activities and, of course, lots of food!

Grand Opening of National Museum of Crime & Punishment
May 23, 2008. The new Washington, DC museum opens its doors! Through interactive exhibits visitors will explore the history of crime, law enforcement, forensic science, crime scene investigation (CSI) and the consequences of committing a crime.

Rockville’s Hometown Holidays
May 24-26, 2008. Rockville, Maryland hosts a three-day street festival in celebration of Memorial Day with live music, children’s entertainment, a parade and more.