You've heard the saying "you never get a second chance to make a first impression." This is especially true when it comes to your home. Potential buyers are highly influenced by how a home looks the first time they get a glimpse of it.

Here are a few simple tips that can positively affect your home's "curb appeal" and perhaps even its value.

Spring market has been here and is alive and well. In our office we are receiving multiple contracts on properties and the number of visitors to open houses has significantly increased. Every week at our Tuesday morning meeting we talk about the absorption rate, which is the number of months it would take to deplete the current inventory of homes for sale. We look at zip code 20854 and homes priced from $500,000 to $1,500,000. Tuesday, April 21, the absorption rate was 4.45. This past Tuesday, April 28, the absorption rate was 3.85. The rate for Montgomery County overall was 3.41. Whoever says the market is bad or slow is not keeping up with what is happening in our area. Obviously the big reason for the increased activity is due to the unprecedented low interest rates currently available. First time home buyers are also increasing because of the interest rate and the $8,000 tax credit for these buyers. Unlike the last tax credit this one does not have to be repaid. However, to take advantage of this tax credit you must settle prior to December 1, 2009. If you have kids looking for a home, now is the time!

bhelman@weichert.com

Energy efficiency seems to be the new buzz word. Homebuyers are more interested than ever in purchasing an energy efficient home. Now that the warm weather is upon us, buyers will be looking at a home's cooling costs and energy-saving features. I have listed a few simple improvements to help you lower your monthly utility bills and reduce the impact on the environment.

• Contact your utility company to arrange for an energy audit that will show you where your home is energy inefficient.
• Caulk and use weather stripping to fill air leaks around windows and doors. This will minimize the amount of air conditioning needed to cool your home and likewise in the winter minimize the amount of heat needed.
• When choosing new appliances be sure to choose energy-efficient units which will appeal to a buyer's savings on energy costs.
• When installing new windows, double-glazed windows are recommended because they help to insulate the home from both hot and cold weather.

Whether you are selling your own home or buying a new one, we all want to save money. These simple improvements will help you accomplish that.

Sorry for my delay in writing but I had hand surgery the end of December and my blogging days were interrupted! The Spring market has officially started in the real estate world. Open house traffic was up 36% from January to February!! Houses are selling and multiple contracts are being presented. As a seller get rid of the clutter. Buyers like to imagine their own "stuff" in the house. You may love the blue walls in your bedroom but a potential buyer may not. I'm not saying you have to paint the whole house "cream or off-white" but neutral works best. There are quite an array of neutrals such as taupe, toast, even a little yellow base mixed in. You not only have to win the pricing contest (price it right to sell; make sure you and your agent do your homework) but you also have to win the beauty contest!

In a bold move, the Federal Reserve unanimously voted to set a target range for its federal funds rate so that it will hover between 0.25 percent and zero. The federal funds rate, the interest banks charge each other on overnight loans, had previously stood at 1 percent and is now at a record low.

Interest rate cuts are seen as beneficial to the economy since they typically lead to more lending by making it cheaper to borrow money. In addition, the Federal Reserve said it would "employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability."

I am encouraged by the aggressive and unprecedented action our government is taking to free up money for loans, as well as the Federal Reserve's pledge to do whatever it takes to stimulate the economy.

Questions or comments call or email me at bhelman@weichert.com

FYI -- There is a new law taking effect in Montgomery County on January 1, 2009 which requires the seller to provide to the buyer prior to entering into a contract information on energy consumption of a property and energy efficiency.  The law requires:

1.  The seller to provide 12 months of utility bills (gas, electric, and oil) -- some exceptions apply for vacant and new homes.

    For all you frustrated statisticians, check out these numbers --

In the 1930's more than 1,000 banks closed -- 3 years before the FDIC was created.  Only 14 banks have been taken over in 2008.

Every week I calculate two numbers to see our specific market share. We call it the Absorption Rate. We look at single family homes in zip code 20854 priced from $500,000 to $1.5 million. This week the absorption rate was 4.59. This number means it would take 4.5 months to deplete our existing inventory of homes, with the absence of new listings. Two weeks ago that number was at 6.8. We also check the absorption rate for all of Montgomery County which includes homes at any price. That rate this week was 7.98.

I know some readers like to see numbers and percentages so in light of that here is a little tidbit of information. At an economic conference at James Madison University it was revealed that there will be 44,000 new jobs in the DC area in 2009. Fortunately the DC metropolitan area remains relatively resilient to contractions in the job market. With the upcoming Administration changes there will be quite a bit more movement in the market, both buying and selling.

The buyers were out this weekend!  I sat an Open House this past Saturday and Sunday with 25 and 22, respectively, groups of visitors.  Shocking if you listen to the news!  Serious buyers are out there.  The majority were definitely looking to purchase by the end of the year.  There has been a dramatic shift in interest.  Listings are shrinking which means less inventory which will lead to less negotiating power.  Buyers will miss the market by waiting.

 Questions or comments contact me at bhelman@weichert.com

Doubt and misinformation can create a self-fulfilling prophecy.  Consumers are paralyzed by fear to buy and/or sell a home.  The credit market has NOT dried up!  There is still mortgage money available.  You could very well miss out on one of the best opprotunities to buy.  Homes priced right sell in any market! 

 On another note....this weekend you get an extra hour of sleep....don't forget to FALL back on November 2!!