From the desk of Todd Hetherington and Mary Lynn Stone

Posted on May 1, 2012 by admin

“What an unbelievable 2012 Cartus Conference for Century 21 New Millennium.  For the second year in a row, our company was honored as one of the top performing companies in the entire network.  It is hard to effectively explain how positively our company is viewed within the network.  Brokers from around the country made a point of coming up to us to tell us that Century 21 New Millennium is the company of choice for when they place their referrals.   The awards achieved are a tribute to the agents, staff, and leadership that all work tirelessly to provide quality service and give back to the network.”

Century 21 New Millennium Recognition Achieved:

  • Cartus 5 Star Circle of Excellence Northern Virginia and Washington DC
  • Cartus 5 Star Circle of Excellence Southern Maryland
  • Cartus 5 Star Circle of Excellence Stafford, Fredericksburg & Culpeper Virginia

Awarded to companies that metrically met the highest of standards for helping their customers buy and sell homes in markets all around the country and in many parts of the globe.

  • Platinum Broker Northern Virginia and Washington DC
  • Platinum Broker Southern Maryland
  • Platinum Broker Stafford, Fredericksburg & Culpeper Virginia

Platinum recognition is the highest achievement level for overall performance available to Cartus Principal Broker members.  Less than 1.5% of Realogy offices have Principal Broker membership. Less than 10% of those members earned Platinum Status.  Century 21 New Millennium earned it 3 times in every Cartus geographic area that we have offices.

  • Top Company: Cartus Sales Lead Award

Awarded to Century 21 New Millennium having the expertise to explain the opportunity and connect local and national corporations to real estate benefits and relocation services.

  • Cartus Top Company for Inventory Management

Awarded to Century 21 New Millennium for achieving the highest overall marks in BMA variance, days on market, and total direct expense management on Cartus Inventory properties.

  • Affinity Summit Award

Awarded to Century 21 New Millennium for having the highest overall marks in the conversion and service of all affinity-based leads received.  Affinity clients include USAA, NFCU, Chase, and many other membership based programs.

  • Cartus Masters Cup Nomination

Awarded to four companies that were finalist for the top honor in the network.  These companies demonstrated exceptional quality standards, surpassed quantity goal standards, delivered outstanding service, and exceeded metrics across multiple platforms.  With over 400 Principal Brokers in the network, the nomination marks Century 21 New Millennium’s 2011 performance as the top 1% of the top 1.5% percent that have Principal membership.  Even more remarkable was the fact that Century 21 New Millennium earned this honor for the second year in a row.

Scott Becker, Director of Business Development added:  “This year’s theme for Cartus is “Rise to the Challenge”.  We fully expect that Century 21 New Millennium will once again lead the charge.”

For more information on CENTURY 21 New Millennium’s Relocation services, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

 

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

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Small Spring Updates to Protect Your Investment

Posted on April 30, 2012 by admin

When homeowners think about protecting their home’s assets, they may immediately think about large maintenance issues, like a new roof. But checking on—and updating, if necessary—small details can have a huge impact on the health over your home over time, saving you big dollars by warding off monumental repairs, says Mary Lynn Stone, President of Century 21 New Millennium. Below, Stone outlines a handful of things you should keep up-to-date to lower bills and avoid costly repairs later on, regardless of whether you plan to stay or sell.

Check the ventilation
“Spring can be wet, and a build-up of moisture can peel paint, cause mold and mildew and ruin flooring, carpets and fixtures,” says Stone. At the start of the season, check out kitchen or bath ventilation fans, and consider installing dehumidifiers anywhere prone to excess moisture. “Check out basements and any overlooked crawl spaces, too, to make sure they aren’t prone to leaks,” suggests Stone. Homes can change over time, so just because you have never had a ventilation problem before doesn’t mean you never will.

Give your AC some TLC
Spring is the perfect time to get service your air conditioner, which will get it into its best shape for summer, and help extend the overall live of your system. Stone recommends replacing your air filters at the start of the season, and every 90 days of use.

Insulate, insulate, insulate
“A well-insulated home is going to have lower energy bills,” says Stone. By checking gaps and cracks around your home, and filling in any seals with a sealant, you can monumentally reduce your energy bills. “According to the U.S Department of Energy, as much as 40 percent of your home’s energy loss can be blamed on shoddy insulation,” notes Stone.

Be sure to check all outdoor faucets and turn on your house to check for cracked pipes after the cold winter months.

Water works
Spring often brings rain, and excess water means excess strain on your plumbing. If you have a sump pump, check that it is in working order by pouring a few buckets of water into the sump pit and monitoring the response. Check all indoor and outdoor faucets. Turn on your hose—if there is a sudden leak inside your home, you may have had a frozen pipe that cracked over the winter and needs to be replaced. “Also, you should consider replacing your water heater if it’s more than 15 years old,” recommends Stone, who notes that newer water heaters are more energy efficient.

For more information on Spring updates, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

CENTURY 21 New Millennium. Smarter. Bolder. Faster. CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

Posted in Century 21 New Millennium, Consumer Bulletins, Home Ownership, Home Sense, Investment, Real Estate | Tagged , , , | Leave a comment

Weekend Warriors: Up Your Curb Appeal with These Two-Day Projects

Posted on April 30, 2012 by admin

With Spring weather making a fast appearance across the country, now is the perfect time for weekend projects to spruce up your yard, or add to curb appeal for the busiest buying season. Completing a two-day project in just that—two days—can be easy as long as you create a plan and follow it. Below are a few weekend projects that Todd Hetherington, CEO of Century 21 New Millennium suggests taking on to freshen your outdoor space. Get professional help, or challenge yourself—and your family—and take them on DIY-style. Just make sure to do proper research beforehand to stay safe and avoid an outdoor “oops!”

Build a Fence
Whether your yard is big or small, a fence is a great asset. “People love fences if they have kids, pets, or even if they just want a bit of privacy,” says Hetherington. You can bring in a professional to tackle this project, or if you’re a semi-seasoned Do-It-Yourselfer, try taking it on yourself. Do some quality research on the materials you will need, including posts, deck boards for railings, premixed cement, gravel, some stakes and galvanized screws. Even if you’re doing it yourself, feel free to chat with professionals at the store while getting your supplies, to glean any master tricks or tips. “The most important part of putting in your own fence is measuring first and putting the posts in the right place. No one wants a crooked fence,” says Hetherington.

A pergola is a great looking addition to your yard, and not-too-big of a project for the Weekend Warrior.

Build a Pergola
Pergolas are this season’s hottest garden accessory. Similar to a pagoda, these pleasing architectural structures make great additions to gardens and patios. “While the platform, frame and rooftop can be done in one weekend, any additional landscaping will take longer,” notes Hetherington. An 8-ft. pergola is a great size, and isn’t too daunting of a project. “I like cedar for a clean, natural look,” says Hetherington. “And don’t worry about staining your structure. Leave it unfinished and let it gradually weather, if you like that look.” Adding a vine like wisteria can also lend a wonderful design element.

Build a Gate
A gate adds a nice touch to any fence, deck or patio. From building the frame to cutting the lumber, this project can easily be done in a weekend. “Whether you want a large privacy gate or a small garden gate, these entryways are a great way to update your landscape,” says Hetherington. “They are also a terrific way to close an already fenced-in yard so that your property is private, and pet-friendly.” After you gather your materials, you can assemble your gate on a template before installing it upright. “And don’t forget to add enough clearance below,” reminds, Hetherington, who suggests leaving at least 3 inches below.

For more information on updating your outdoor space, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

CENTURY 21 New Millennium. Smarter. Bolder. Faster. CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate. 

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CENTURY 21 New Millennium Named Finalist for the Cartus Broker Network Masters Cup

Posted on April 26, 2012 by admin

CENTURY 21 New Millennium has been named as one of four finalists for the Cartus Broker Network Masters Cup at the Cartus Broker Network International Conference being held at the Ritz-Carlton Orlando, Grande Lakes in Florida.  The Masters Cup is the Network’s highest honor and will be presented during the conference’s awards ceremony on April 27. There are more than 835 brokers in the Network.

The four brokers have been selected as finalists based on their 2011 record of delivering excellent performance in the areas of home marketing, inventory management, customer service, the conversion of Cartus referrals, broker-to-broker referral performance, and the effective marketing of Cartus.

“I want to congratulate CENTURY 21 New Millennium on its tremendous year. In being named a finalist, CENTURY 21 New Millennium has reached an elite level of a Network made up of companies committed to delivering excellent results,” said Gerry Pearce, Cartus executive vice president, Broker Services and Affinity Services. “I commend the leadership that CENTURY 21 New Millennium has shown in achieving the highest levels of performance during a time of economic uncertainty.”

“We are honored to be a finalist for the Masters Cup,” said Todd Hetherington, CEO, CENTURY 21 New Millennium. “Our team worked hard to get to this point and this recognition means a great deal to us. We are pleased to keep such good company,” added Mary Lynn Stone, President, CENTURY 21 New Millennium.

In addition to the awards ceremony, the conference includes interactive workshops, roundtable and panel discussions, and executive presentations. Cartus Broker Network attendees are able to network with other industry professionals and exchange information and ideas related to team-building, revenue generation, retention, new business strategies, and increasing customer service—all essential elements for continued success.

About Cartus and the Cartus Broker Network

Cartus Broker Network is the nation’s leading network of more than 835 market-leading real estate firms representing more than 3,000 offices and more than 97,000 agents. Cartus provides trusted guidance to organizations of all types and sizes that require global relocation solutions. Serving over 70% of the Fortune 50 and providing service to more than 160 countries, we apply our more than half century of experience to help our clients with their mobility, outsourcing, consulting, and language and intercultural training needs. Cartus is part of Realogy Corporation—a global provider of real estate and relocation services. To find out how our greater experience, reach, and hands-on guidance can help your company, visit www.cartus.com and www.pitchengine.com/cartus; read our blog at www.cartusblog.com; or click www.realogy.com for more information.

About Century 21 New Millennium

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington, D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park and Lusby and Waldorf.  Its core services include: mortgage financing, investing, settlement, property management, property insurance, global relocation assistance, and commercial real estate.

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CENTURY 21 New Millennium Hosts Open House Weekend and Features More than 125 Homes Across Maryland, D.C. and Northern Virginia

Posted on April 25, 2012 by admin

CENTURY 21 New Millennium agents celebrated spring in the D.C. Metro area with its Open House Weekend April 21st and 22nd.  More than 125 homes in Maryland, D.C. and Northern Virginia were featured over the weekend.

 “CENTURY 21 New Millennium sales professionals staged open house events last weekend and welcomed the opportunity to help consumers understand the advantages of current pricing, interest rates and incentives,” said Todd Hetherington, CEO of CENTURY 21 New Millennium. “There is a pent-up demand for housing and low interest rates are encouraging to home buyers.”

CENTURY 21 New Millennium is the top ranked CENTURY 21 firm in the Mid-Atlantic region and ranks in the top three CENTURY 21® firms nationwide.  It is also consistently included in REALTOR® Magazine’s Top 100 Companies List.  This year the company has added locations in Columbia and Waldorf, Maryland and has broken ground in Washington, D.C. with its new office on Capitol Hill.  These recent changes have allowed New Millennium to grow to sixteen office locations and over 700 real estate professionals serving clients in Northern Virginia, Maryland.

“Our company’s commitment to meeting our customers’ needs through a full service real estate experience has allowed us to continue to expand, despite the recent economic downturn,” said Mary Lynn Stone, President of CENTURY 21 New Millennium.

In addition to real estate sales, the company’s core services include: mortgage financing, investing, settlement services, property and association management, property insurance, global relocation assistance, and commercial real estate.

About Century 21 New Millennium

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington, D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park and Lusby and Waldorf.  Its core services include: mortgage financing, investing, settlement, property management, property insurance, global relocation assistance, and commercial real estate.

Posted in Century 21 New Millennium, Housing Market, Press Release, Real Estate | Tagged , , , | Leave a comment

Home Staging Secrets: The Kitchen

Posted on April 13, 2012 by admin

The kitchen is one of the hottest selling points for any listing, as it is the center for a lot of activity within a home. While you may renovate your kitchen before selling—or at least replace outdated appliances and add some fresh paint—staging is another crucial part of making your kitchen buyer-ready. Below, Mary Lynn Stone, President of Century 21 New Millennium shares some important tips for staging your kitchen.

Make it sparkle. “Cleaning your kitchen top to bottom is the first step in home staging,” says Stone. Polish all fixtures, clean out the inside of the stove, dust that ceiling fan, wash windows, scrub your baseboards, clean cabinets and polish or replace knobs and handles.

A clean, clutter-free kitchen makes the right impression with perspective buyers.

De-clutter. Remove all appliances from the counter; take magnets and photos off the fridge and most of the photos off the wall. Don’t remove everything, or it will look cold and unlived in. Instead, allow an opportunity for the buyer to imagine their own lives enfolding in the room.

Make use of space and color. Replace your large kitchen table with a smaller one to make the space seem roomier. Replace heavy drapes with lighter ones to brighten the room. Make sure your color scheme is subtle and complimentary, not extreme or jarring. “The less things shoved into your space, the larger it will look. Put something simple, like a cookbook or bowl of fruit on the counter or kitchen table,” suggests Stone.

Sweat the small stuff. Go above and beyond to make your kitchen look like a place where your potential buyers will want to spend time. Try not to cook anything with a strong odor in your kitchen during the time your house is on the market, like fish, bacon or curry. Of course, baking some fresh bread has always been a go-to home selling secret. “Also, be sure never to leave any dirty dishes in the sink or the dishwasher. Sellers like to open things, and your dishwasher is not excluded from this. Don’t turn them off with last night’s dinner dishes,” recommends Stone.

For more information on home staging, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

 

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

Posted in Century 21 New Millennium, Consumer Bulletins, Seller | Tagged , , , | 1 Comment

Finding the Right Price for Your Home

Posted on April 13, 2012 by admin

Selling your home can be an exciting time. It’s a time for change, and for some, a time for starting over. It can also be a stressful time, especially when it comes to finding a buyer. Todd Hetherington, CEO of Century 21 New Millennium notes that the best way to assure you find the right buyer is by first finding the right price. Many sellers make the mistake of thinking the value of their home should without a doubt be the same or more than what they purchased it for. Unfortunately, it doesn’t work that way.

“The truth is that there is an art to pricing a home, and to do it right you need to know the market, or find someone who does,” says Hetherington. “Together, you need to compare similar properties in similar locations, make adjustments based on any differences among them, and of course track the market. If you do all of this right, you will have an educated opinion of the home’s current value.”

There are many factors that go into finding the appropriate price for your property.

Hetherington explains that one mistake buyers make is pricing too high, when in reality they would be better off pricing too low. If they price low—that is, under the competition of comparable homes—then they will hopefully receive multiple offers, which will allow them to drive up the price to market value. They don’t have to accept the first offer; they can wait until they find an acceptable price that the buyer is willing to pay. However, by pricing too high, they may not receive any offers and the listing will grow stale. “Buyers often look for fresh listings, and when the home has been on the market too long, this can delay its sale because buyers assume there must be something wrong with it,” says Hetherington.
Hetherington recommends carefully selecting a real estate agent who is in touch with your local market and knows how to price a home. “Don’t be offended if you think your home is worth more than what the market can offer at this time,” says Hetherington. “Most homeowners would rather sell a home for less than have their listing expire.” And don’t forget that if your home has been on the market with no luck and your listing has gone stale, you can seek out agents who specialize in finding the right price for expired listings.

For more information on pricing your property, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

 

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

Posted in Century 21 New Millennium, Consumer Bulletins, Home Ownership, Housing Market, Real Estate, Seller | Tagged , , | Leave a comment

Selling in Spring: 4 Top Tips

Posted on March 28, 2012 by admin

Spring is the busiest season for real estate; the grass is green, the sun is shining, the air is fresh, and buyers everywhere are looking forward to a summer move. This is a prime time to sell your home if it has been sitting on the market all winter. Unfortunately, most hopeful home sellers have the same idea. Mary Lynn Stone, President of Century 21 New Millennium offers the following four tips to make sure your property is at its best this season.

Relist. “If your home has been sitting on the market for a few months already, try taking it off for a few weeks and then relisting.” This will make the property look fresh and attract buyers who are searching for new listings.

Manicure. Your lawn, that is. “Trim your bushes, rake any old leaves or debris, plant fresh flowers, repair fences, paint your garage—anything that will make your property look clean and bright,” Stone suggests.

Use Shades of Spring. If the inside of your home is staged, try updating throw pillows, drapes and towels in subtle spring colors, like yellow, pale blue and lavender.

Clean those windows - especially if you haven't done so after the long, winter months. Don't forget the windowsills!

Wash Your Windows. “This may seem like a no-brainer, but you would be surprised at how many homeowners fail to do this,” says Stone. “Or maybe they washed their windows when they first listed back in December, and don’t realize they need to do it again.” With the sun shining through, streaky, dusty windows will be noticeable. Hire a professional or do it yourself. While you’re at it, clean the windowsills, too—both inside, and out. “When cold winter air hits the heat of your home, your windows sweat, which can cause mildew,” explains Stone.

“On top of these things, you should also make sure to invest in heavy spring-cleaning. Wash any carpets, throw open your windows, scour and polish the floors and get those surfaces gleaming. With competition high, you want to make sure your home is in the best possible condition for selling this spring,” recommends Stone.

For more information on spring selling, please contact Century 21 New Millennium at move@c21nm.com, 800-382-1101, or Century 21 New Millennium.

CENTURY 21 New Millennium. Smarter. Bolder. Faster.

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

Posted in Century 21 New Millennium, Consumer Bulletins, Housing Market, Seller, Tips | Leave a comment

CENTURY 21 New Millennium 2012 Spring Newsletter

Posted on March 22, 2012 by admin




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C 21 New Millennium Spring 2012 Newsletter
SPRING 2012

Listings

http://c21nm.com

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   MARKET TRENDS
POLICY CONTINUES TO DRIVE HOUSING PERFORMANCE

IN THIS ISSUE
ASSESSING RISK; REWARDING ACTION
Strategic Shift
The Dollars and Cents of Real Estate Investing
So What Does an Investor Sale Look Like? Subject Property
Cost of Acquisition
Rental Income, Debt Service, Operating Expense

Cash Flow
Principal Reduction and Equity Build
Summary

It is clear that "policy" will remain a driving influence over the housing sector. More traditional measurements of supply and demand remain useful indicators when forecasting the direction and velocity of values. However, it is public policy that determines how many homes are for sale and how many ready, willing and able buyers exist.
Some Examples:
Our last issue discussed the potential for bulk sales of Bank Owned Property to private investor groups; with strings attached. This strategy limits the amount of inventory available at a given time by requiring the investor groups to hold this inventory as rentals until such time as the market may absorb the inventory without deflating values. FHFA has since announced the program with the first investor bulk sale to occur in the near term.
Read More…

STRATEGIC SHIFT
When values fall below the long term trend line, we always see the return of the real estate investor. From 2007 through the early portion of 2011, the
common strategy was "The Flip." This model is featured prominently on Cable shows like "Flipping Out", "Flip This House", "Flip That House" and "Flip Men."
There are even plans at Bravo Network to air a Houston based show hosted by a former Survivor star. While it may look simple on TV, this is no business for the first time investor.
A distressed property, typically a foreclosure, is acquired on the Courthouse steps. The acquirer has very limited information about the home; usually what they are able to learn from viewing the exterior of the home and peeking in the windows. While they are likely able to buy the property at a discount, there could be tens of thousands of dollars in needed repair before they can resell.
Read More…
Xhart-Payment

ASSESSING RISK; REWARDING ACTION

There remains some undercurrent of skepticism relating to trending of property values. The programs discussed above are targeted to increase the number of ready, willing, and able buyers while limiting the amount of inventory available at any given time.
Read More…

The Capital region is unique - chart

Chart


THE DOLLARS AND CENTS OF REAL ESTATE INVESTING

The property records above reflect the terms of the sale of a foreclosed property to an investor and the subsequent rental of the property by the
investor. This transaction settled on November 18th, 2011 and the new tenant moved in during January, 2012. Immediately following foreclosure, the bank
brought this property back to market ready condition with a fresh coat of paint, new carpet and appliances. When the investor took possession, the home was in "move in" condition. The prior owner, Bank of New York, acquired the property from the trustee on the courthouse steps for the defaulted loan amount, $242,159.
The property was listed for $164,900 on October 6th and went under contract fourteen days later on October 24th. Twenty five days later, on November 18th, the investor settled on the property at a purchase price of $141,000; about eighty five percent of list price. The property was listed for rent that day offering a move in date of December 1st. Shortly thereafter, the home was rented for $1,650 per month. The entire process from foreclosure date to move in date took less than ninety days. Townhomes like this are particularly well suited for ownership by investors. There are hundreds of similar communities throughout the region.
Developers locate these subdivisions within close proximity to public transportation, shopping, restaurants and entertainment. Typically, the communities offer amenities to include swimming pools, fitness centers, community clubhouse and security to appeal to young professionals and families. Exterior maintenance, to include lawn care, are usually covered within the monthly Association fee; in this case, $240 per month.
Read More…

SUMMARY
If you are considering a real estate transaction, thorough analysis and competent representation are essential. We are in a transitioning market. There is potential for profit, as there is risk of loss. If we understand the underlying facts, we can continue to make good business decisions logically and without emotion. I am a real estate professional and accept responsibility for keeping my friends, neighbors, and business community informed as to all aspects of things affecting the real estate portion of their holdings.
If your home is currently listed for sale, this is not a solicitation. If you have a real estate question, I will be happy to answer it, or find the answer. If you have a real estate need, I will appreciate an opportunity to compete for your business. Our team is very good at what we do…our results demonstrate that. Don’t settle for less.
Read More…

SO WHAT DOES AN INVESTOR SALE LOOK LIKE? SUBJECT PROPERTY

ML#: PW7729720
Status: RENTED
Adv Sub: Jackson Ridge Condo
Ownership: Condo, Rent
Date Avail: 01-Dec-2011
Type: Townhouse
Style: Colonial
BR/FB/HB: 3/2/1
Lot AC/SF: /
SQFT-Tot Fin: 1,642
Lvls/Fpl: 3/1
Vacation Y/N: No
Construction: Brick
Basement: No,
Parking: Garage, Other
# Gar/Cpt/Assgn: 1//
Heat/Cool: Natural Gas/Forced
Air/Electric/Central A/C
Water/Swr: Public/Public Sewer
List Date: 18-Nov-2011
Update Date: 20-Jan-2012
LP: $1,650
DOMM/DOMP: 40/40
Total Taxes
Ground Rent:
Area:
ADC Map Coord: 0000
Yr Blt: 1995
HOA/CC Fee: /0.0
Tax Living Area: 1,642

Read More…

 ML#: PW7703491
Status: SOLD
Adv Sub: Jackson Ridge Condo
Ownership: Condo, Sale
Contract Date: 24-Oct-2011
Close Price: $141,000
Date Avail:
Type: Townhouse
Style: Contemporary
BR/FB/HB: 3/2/1
Lot AC/SF: /
SQFT-Tot Fin: 1,642
Lvls/Fpl: 3/1
Construction: Brick and Siding
Basement: No,
Parking: Garage
# Gar/Cpt/Assgn: 1//
Heat/Cool: Natural Gas/Forced Air/
Electric/Central A/C
Water/Swr: Public/Public Sewer
List Date: 06-Oct-2011
Update Date: 25-Nov-2011
LP: $164,900
DOMM/DOMP: 18/18
Total Taxes: $1,619
Close Date: 18-Nov-2011
Seller Subsidy: $
Ground Rent:
Area:
ADC Map Coord: 8F3
Yr Blt: 1995
HOA/CC Fee: /240.0
Tax Living Area: 1,642
Vacation Y/N: No
property property

COST OF ACQUISITION
We will make the assumption this investor purchased this property on the day their first child was born with the
intent to fund their child’s college education by selling the property when the child turns eighteen. Read More…

Purchase Price: $141,000
Down Payment: $28,000
Closing Costs: $4,230
Mortgage Amount: $112,800
Mortgage Rate: 4.75%
Appreciation Rate: 5%

 

RENTAL INCOME, DEBT SERVICE, OPERATING EXPENSE
The current rental rate of $1,650 per month will generate $19,800 annually in income. After factoring in a five percent vacancy rate, our investor plans for $18,810 in rental income in 2012.
Read More…

Annual Gross Income: $19,000
Vacancy Rate: 5%
Effective Gross Income: $18,810
Operating Expenses: $4,459
Net Operating Income: $14.351
Cap Rate: 10.17%
Annual Rent Increase: 5%
Annual Expense Increase: 5%
Mortgage Term: 30
Annual Mortgage Payment: $7,056
Cash Flow: $7,295
Cash On Cash Return: 22%

CASH FLOW
The investor made a down payment of $30,430 (including closing costs) and obtained a mortgage for the balance of the purchase price. The rental income covers all expenses and pays the investor an additional $7,296 per year. Read More…

Chart-cash flow

PRINCIPAL REDUCTION AND EQUITY BUILD
Each month, a portion of the mortgage payment goes toward principal reduction. By 2021, the loan has been paid down by $21,475 so there is remaining principal balance of approximately $91,054. Read More…

Chart-cash flow
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Locks, Lighting and Alarms; Protecting Your Home

Posted on March 9, 2012 by admin

Your home is your most valued investment. It’s meant to keep you—and your family—comfortable and safe, and it protects you from the elements. But what is protecting your home? When it comes down to it, the security of a home lies on the shoulders of the homeowner. While 911 is the standard go-to response in home emergencies, you can’t count on the police for round-the-clock protection.

“While the local police may be the first to reach the scene of the crime, and perhaps they will be able to catch the perpetrator, they can’t keep the crime from happening,” says Todd Hetherington, CEO of Century 21 New Millennium. So what can you do? You can protect yourself. Luckily, technology has made that task a bit less daunting.

Do your doors and windows lock correctly? This is your first place to start when considering your home's security.


Locks
Burglars enter through an unlocked door or window in approximately 30 percent of robberies. Before you even start thinking about an alarm system, make sure your doors lock efficiently. All exterior doors should have keyed passage locks as well as deadbolts. “All windows, garage doors, Bilco doors and sliding doors should have sturdy locks as well,” Hetherington recommends.

Lighting
Lighting is the next item on the list. Burglars attack under the cover of darkness where they can hide. They won’t want to break into a well-lit home where any neighbor or passerby might spot them. Motion-detecting spotlights are particularly effective because they surprise the thief and scare them off.

Home Alarm Services

Alarm services are essential. “Many homeowners shy away from them because they think they’re expensive or unnecessary. But anyone who has had their home broken into knows that any precaution taken is well worth it in the end,” says Hetherington.

Not only do these systems scare off the bad guys and tip off the authorities, but they can also deter break-ins before the burglar has even entered the home. Alarm companies will provide you with a sign to post outside your home, so that all prospective burglars know you’re protected.

Here is a run down of a handful of the best security systems out there, according to Hetherington.

Brinks Home Security – This company is rated a Consumers Digest best buy. They have low basic prices, although their premium cost is a bit on the pricier end. One of their touted features is a simple one-button turn-on, instead of requiring a sequence of button presses.

ADT Security Services – ADT offers a key chain that lets the homeowner arm and disarm the system from anywhere in the home. “This is helpful if your child or spouse accidently sets off the alarm coming in; you don’t have to scramble to the panel with an obnoxious noise blaring in your ear,” says Hetherington. Their prices are extremely affordable.

GE Security – GE is another home security standard. They offer basic home security systems, as well as protection products for multi-unit dwellings and offices.

Guardian Protection Services – Guardian’s main advantage is that they integrate burglary protection, fire protection, and personal emergency protection, as opposed to offering them separately like most of the other companies. Their prices vary regionally.

“Once you have chosen and installed a home security system, don’t forget to use it,” Hetherington reminds us. Consumer Reports found that 43 percent of people with home security systems fail to consistently use their systems when they leave home. “Turn it on whether you’re heading out to do errands for a few hours, or going on vacation for a few weeks,” Hetherington says. “Keeping your home safe should be a top priority, and knowing it’s protected will help you relax when you’re out, regardless of where you’re going or how long you’ll be away.”

For more information on home security systems, please contact Century 21 New Millennium at move@c21nm.com 800-382-1101 or Century 21 New Millennium.

 

CENTURY 21 New Millennium.  Smarter.  Bolder.  Faster.

 

CENTURY 21 New Millennium, www.c21nm.com, is a full service real estate brokerage company specializing in residential and luxury properties. In addition to its newest Washington D.C. location, the Virginia locations are in Alexandria, Centreville, Culpeper, Fredericksburg, Gainesville, McLean, Stafford, and Woodbridge. The Maryland offices are located in Annapolis, Columbia, Dunkirk, La Plata, Lexington Park, Lusby and Waldorf. Its core services include: mortgage financing, investing, settlement services, property management, property insurance, global relocation assistance, and commercial real estate.

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