Live Q&As

Well, that's the usual expectation from redevelopment. The question is when surrounding values might increase--and that's always tough to guess. And it's even tougher now that NOMA's redevelopment has been slowed down by the recession.

The Magic 8 Ball says "unlikely." I haven't seen any serious signs of an extension.

It's hard to believe, but it's not much of a buyer's market now in the Centreville area. I wouldn't buy without an appraisal contingency. That's a serious protection! If it appraises for less than you agree to pay--you're under contract to come up with tens of thousands of  dollars in extra cash--or forfeit your earnest money. Don't be bullied by the sellers.

Mobile homes (manufactured housing) built before 1978 are included in the definition of "target housing". Although these units may have been constructed largely of pre-finished materials, some surfaces, both interior and exterior, may have been painted with lead-based paint. Therefore,  mobile homes cannot be exempted as a class. Houseboats, recreational vehicles, etc. are not considered "target housing."

Well that depends a lot on how much work has to be done to make your basement a legitimate, safe rental. First priority is to be sure there are (or will be) safe exits that comply with the fire code. Get some good, hard estimates of how much money you have to put in to make it a good rental. And then invite some local real estate agents in to give you an opinion about marketability with an English basement. And, of course, research how much it costs to rent such a place in your neighborhood. Read Harvey Jacobs' House Lawyer column in this week's issue carefully. He talks about the licensing rules for landlords. Good luck!

Well, based on a new model-home tour I made about a year ago with a professional stager, I'd say go ahead and beautify the place with high-quality silk flowers and plants. You might leave some good-quality potpourri out as well. 

Welcome home! If you're looking for a rental house or townhouse, you might consider talking with some of the real estate brokerage companies. In this area a lot of landlords are military or foreign service folk who need a pro to handle leasing while they're away.

You're welcome, on behalf of all of us chatters! And congratulations, too.

Most of the good real estate web sites allow you to fly over neighborhoods and see listings--with prices--pop up on a map. Try Homesdatabase.com, Zillow.com, trulia.com, Redfin.com, Sawbuck.com for a start, and see which sites you like. Townhomes under $300k in that area, though, could be a tough search. Good luck.

Honestly, it sounds like you know the answer to this question. Yes, unless you have a stomach made of steel and a big bank account, it would be a bad idea to buy before you sell that condo.

I know! So many people have been complaining of this. We just have to give up on the idea of the Washington area (at least most parts of it) being a buyer's market now. I don't think this is necessarily driven by the tax credit deadline, though that's probably putting some urgency into the market. Rising interest rates are scaring some people into action, too. And by most indicators, the economy does seem to be getting better now. The patient isn't cured, but he's finally able to get out of bed.

Oh, heck, I've used Craiglist to buy and sell all kinds of stuff. And you will find rentals there. But it definitely is not the only place private renters advertise. And--you can find scams anywhere, but SOME free ads on Craigslist have been the scammy type, where someone is trying to rent out something they don't really own. Caveat emptor.

Thanks for a voice of experience. I wouldn't leave my best stuff, but some appropriate pieces would be good. It's the look that counts; not the quality. And hang some stuff in the closets while you're at it. The pros decorate them with hat boxes and a couple of attractive pieces, just so it looks lived-in.

You can get your home checked in one of two ways, or both

• • A risk assessment tells you if there are any sources of serious lead exposure (such as peeling paint and lead dust). It also tells you what actions to take to address these hazards.
  A paint inspection tells you the lead content of every different type of painted surface in your home. It won't tell you whether the paint is a hazard or how you should deal with it.

I recommend getting a combination inspection and risk assessment. Here's a list of DC inspectors.

As of this writing, a contractor must fully comply with the rule as of April 22nd. We anticipate that EPA will issue enforcement guidance in the next week. In addition to submitting an application for certification, the firm should follow all of the work practices in the regulation and make sure that a certified renovator is assigned to the work.

PAINT! A fresh coat of paint makes so much difference. Clean windows and light fixtures. Updating with inexpensive light fixtures if yours are old, dirty or frumpy. And then flooring, especially an inexpensive wall-to-wall (if that's what you have). Or maybe there are pretty floors underneath the old stuff? Chatters, what do you think?

The bank will only do that if you have enough income to cover both home payments comfortably. Most people sell first and then buy, with some juggling of the move-out and move-in dates in the contracts. It's not fun, but temporary housing for a couple of months is not out of the question.

I'm sorry. TSP?

Well, that's interesting. And, btw, I didn't win or lose anything. I'm just relaying my own experience with remodeling. Oh, and I've read that lead can increase blood pressure in adults. You might wanna watch that.

We recognize that any regulatory change is tough for the regulated industry. The fact remains that nearly 40% of lead poisoning cases come from unsafe remodeling, painting and repair jobs. Those costs are simply externalized right now and placed on the families who have to cope with having a lead poisoned child and society in terms sky rocketing special education and juvenile justice system costs.

There are places in the metro area, but not really in Clarendon. Townhouses are relatively rare there, compared to condo apartments.

It's a roll of the dice. And meanwhile, interest rates are creeping up. No need to panic, but the wait-it-out strategy has its risks, too.

Thanks for the advice!

I'd say going from 4 br to 3, and gaining a master bath in the process is a value-adder. Going from 3 br to 2, maybe not. Going from 2 to 1, very likely not. Any agents out there with an opinion?

I agree. I've been shocked at the condition some people leave their homes in when inviting in buyers. Seriously; I'm not buying someone else's dirt. A lowball investor would, though.

Lead paint was banned in 1978, although some jurisdictions began phasing it out in the 1960s.

Well, this kind of strategy was something much easier to pull off back in the loose lending days of the housing boom. Lenders are going to ask what you want the cash-out refi money for, and they won't like hearing "down payment." You also have to have a lot of equity to do a cash-out. (Halfway through a 15 yr mortgage you may be ok.) Then, if you get a renter, they'll only allow some of the rent to count as income. They allow for vacancies and other expenses. Plus--you don't have a rental history, so they'll be skeptical on that. Maybe you want to sell or rent out the old house first, then rent or buy in the new neighborhood. Take things one step at a time.

If the seller can't tell you that the bank has approved that price, then it probably is wishful thinking.

I'd like to know more about the condition of the house before making a recommendation. Is the paint peeling? If so, where is it peeling? Will all of the surfaces be cleaned (e.g. all floors, window sills, porches)? The safest best would be to have a lead inspection. By law, you have a 10 day window for having such an inspection/risk assessment conducted before you are obligated under any contract.

Hello -- chatter with the question about the appraisal contingency? Here's what happens. If you did not have a contingency in your offer, you're looking at either boosting your downpaymnt by $40k or possibly losing your earnest money. I don't think the seller must disclose the appraisal to anyone else, I mean, anyone is entitled to overprice their home. It's up to the buyers to keep from overpaying....by relying on an appraisal!

Thanks for chipping in.

I think most homeowners are just learning about the new  rule. And, speaking as someone who has gone through home renovations, anything that controls dust and dirt will be welcomed by homeowners. And it's much more reassuring to deal with someone who takes the issue seriously, rather than the "don't worry about it" dismissal I've heard from contractors in the past. Rebecca?

The renovate right brochure has some great messages for families. You can reinforce those messages by explaining that:

Lead can be found in most homes built before 1978. If it is properly maintained, there is no reason for alarm. This means that homes should not have peeling paint on the interior or exterior.

Here are some additional facts you can share with them:

38 million homes in the U.S. were built before 1978 and potentially contain lead-based paint. A lead inspection can tell you where lead is located in your home.

Children under age six are at greatest risk because their nervous systems are still developing and lead can interfere with the brain’s development, resulting in lifelong learning and behavior problems.

Most children are poisoned by invisible lead dust that is released when the paint is peeling, damaged or disturbed. The dust settles on floors and other surfaces where it can easily get on children’s hands or toys and into their mouths.

The new EPA rule will ensure the widespread use of lead-safe work practices in homes and child-occupied facilities.

Show them a a copy of their Certified Lead Renovator Training Certificate and the certificate of the Certified Renovator assigned to the job (two certificates in all) and ask for three references for recent similar jobs.

Tell them about the practices that you will follow to contain, control and clean up lead dust.

If they have additional questions, you should call 1-800-424-LEAD.

Interesting question. I've spent a summer in Florida, and I can attest to the propensity for mold and mildew to grow in a short time. Rebecca can address this better, I'm sure, but I would at least make sure I had brand-new filters on the heat and a/c system. Lysol any books laying around. And a good HEPA-filtered vacuum might be nice to have.

My parents are snow birds too. For northern homes left vacant, there are a couple of concerns - one is pests. A vacant house is also a great home for mice and other unwelcome visitors. Prior to vacating, your folks should make sure there are no open holes or cracks in the house and make sure not to leave any food behind. They also need to make sure there are no leaking faucets or dripping pipes. A small puddle of water is a great watering hole for pests. Check out our checklists for maintaining a healthy home.

http://www.nchh.org/Portals/0/Contents/Steps_for_Creating_a_Healthier_Home2009.pdf

http://www.nchh.org/Portals/0/Contents/Maintenance_Checklist2009.pdf

Here are some other tips: 

Arrange lights  turn on periodically with a timer.

Make arrangements for a neighbor or friend to have a key to your house or apartment – or at least know where one is. Give them a number where you can be reached.

Unplug toaster, mixer, computer, TV and other appliances.

Turn down heat (not off! Or your pipes will freeze!), and or turn up air conditioning.

Take out all garbage

Make sure there are no wet clothes in washer or dryer – or wet rags in the sink or bathroom. 

Shut off the water — and make sure the dishwasher is not full of dirty dishes.

Your agent probably doesn't want to get involved in a fight over this. You could sue. Do you want to?

Or parts of DC and Prince George's County.

Thanks for the translation. Acronyms and I don't get along too well. Please post again next time as we're running out of time this week. But, yes, lenders have been picky. And they've been busy lately, too.