Donahoe Kearney - August 2021

Donahoe Kearney - August 2021

BRIEF

donahoekearney.com

August 2021

10 THINGS TO DO IN THE DMV THIS AUGUST

Last summer, well, didn’t really feel like summer. Sure, it got hot like it usually does, and people did venture outside sometimes, but because of the pandemic, I’m betting most of us felt robbed of our summer. We didn’t get the vacations, the community events, or even the time with family we normally would have. This means we’ll have to live it up twice as much this summer — and luckily, we can! Even though we are in the latter half of the summer, there’s still plenty of sunshine left till fall and plenty of events in the DMV left to enjoy. In case you’re running out of ideas, take a look at our list below to find fun things to do this month in the DMV! TOUR THE MONUMENTS Become a tourist in your hometown and tour the Washington Monument or Arlington National Cemetery. That might seem like a no-brainer, but you’d be surprised how often people brush off visiting the famous sites where they live. For extra fun, you could get a canoe and tour them from the water! PADDLE DOWN THE RIVER Speaking of water, the Potomac and the Anacostia have plenty of waterfront areas to put in on a paddleboard or canoe. It will feel perfectly refreshing on a hot August Day! VISIT THE SMITHSONIAN It’s free and it’s indoors. What more could you ask for on a day when the temperature and humidity are less than ideal? Discover some of the incredible historical knowledge this museum has to offer. Even if you’ve been before, no two visits will be the same! GO FOR A BIKE RIDE Our area (and D.C. in particular) boast some impressive bicycle infrastructure. Why not take advantage of it while it’s warm? Ride to your favorite restaurants, bars, and shops instead of taking a car or public transport. VISIT THE KENILWORTH AQUATIC GARDENS This park is like something out of a Monet painting, with water dotted with lily pads and bamboo shoots. Amidst the greenery,

you can look for herons and turtles or go for a free guided tour from one of the park rangers. DINE AL FRESCO Dining on the patio became a necessity at some restaurants during the pandemic, but it still has a charm to it during the summer, especially on a cool evening after the sun goes down. It’s

the perfect way to end a busy day! SEE AN OUTDOOR MOVIE

True, you might not see new releases like you will in the theaters, but few summer activities are more fun or relaxing than throwing a blanket down on some grass and catching a classic movie you may not have seen before. HIT UP SUMMER RESTAURANT WEEK D.C. has a pretty ritzy food culture, but during Restaurant Week (which runs from Aug. 12–18), you can get three-course meals from over 100 different restaurants at a price anyone can afford. This is something no foodie can miss out on! VISIT THE LIBRARY Who doesn’t love a visit to the library during the summer? You can find some great reads at our own little local library, the Library of Congress. True, you can’t take the books off the premises, but anyone can peruse the world’s largest collection of knowledge on a hot summer day. There have to be some good reads in there somewhere! ATTEND AWESOME CON If you’re a pop-culture junkie and you’re looking for your people, you’ll find them at Awesome Con from Aug. 20–22. This three-day event will give you access to panels with movie and TV stars, a chance to get some awesome merch and collectibles, and enjoy living in another world. We hope you enjoy the rest of your summer! - Frank Kearney

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WHY IS THE REAL ESTATE MARKET SO HOT IN THE DMV?

KATHY HASSETT Everyone is talking about real estate these days in the DMV, so we reached out to two local real estate agents and experts we know and trust: Boyd Campbell, a former client and friend

we’ve known for 20 years, and Kathy Hassett, who has been married to Frank for even longer!

BOYD CAMPBELL

The market is hot right now because there are more buyers than sellers. Because of the lopsided supply and demand, when a house becomes available, it goes under contract very quickly, and the buyers are paying list price or more. But recently, we’ve seen the supply of houses is slowly increasing and the number of buyers is decreasing slightly, so the market is starting to shift a little bit.

A number of things are driving this hot market — interest rates are historically low (I’ve seen them as high as 17% in my career), and that’s been the No. 1 source of fuel for the market. These days, there isn’t much difference between the cost of buying and the cost of renting, which has gone way up as well. Plus, with people working from home due to the pandemic, everyone wanted more space, especially if they continue to work

You can find hidden values in properties that have been on the market for more than 30 days. These properties may need cosmetic work — or more — but it might be worth it to avoid the competitive nature of the current market. To help both my buyer and seller clients in this market, I focus on the market conditions in the specific area where they are looking to buy or sell in. We provide a comparative market analysis (CMA) of close by, similar properties that have been sold recently, are under contract, or are currently for sale. We then discuss what is happening in their specific neighborhood — it is important to focus hyper-local since pricing and trends can vary widely in Northern Virginia. For my seller clients, I help them enhance their property (through staging, updating recommendations, and professional photography) so it looks its very best when it goes on the market. I develop a pricing strategy in line with the current market in their neighborhood and create a multiplatform marketing plan that will provide maximum exposure for the property to reach as many potential buyers as possible, which results in multiple and competing offers. For my buyer clients, I make sure they are ready to make an offer quickly when they see the home they want. They need to be prequalified for a mortgage with a local lender and have previewed homes and neighborhoods so they know what they want and what they are comfortable paying. I also make sure they are familiar with the sales contract and possible contingencies — we review all of this in advance so they can act quickly and confidently when we find the house they want. You can reach Kathy at 703-863-1546 or [email protected].

from home. And remember, what people call affordable is relative — if you’re moving to this area from San Francisco or New York, you’re used to high real estate prices. I've been in the business for 45 years now, so I have seen the area grow like crazy. I tell potential buyers in this market to be prepared to lose out on some of the houses you want — and to try to detach the emotion from the decision, even though it’s hard, because in this market, you can have a strong offer and someone else just has a better one. Some of the hot areas I see with good value are Calvert County, Edgewater, Pasadena, and Glen Burnie. People are really interested in areas like that. I represent a lot of sellers, especially in Prince George’s, Anne Arundel, and Charles counties and the District, and a number of houses I sell are estate sales, so here is my advice for sellers. The No. 1 thing is don’t get greedy if you’re selling your house. You may get a number of offers on the property, but they all have to be vetted. I need to make sure each buyer and each offer can get to the finish line and get to closing. I’m looking for proof that the buyers can make it happen so my sellers don’t have to start over. That’s a lot of my work now, working through competing offers and advising my sellers on their best choice — and it may not be the highest price. There’s a lot that goes into it. You can reach Boyd at 301-980-6233 or [email protected].

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KNOW SOMEONE WITH A LONG-TERM DISABILITY? Do you know someone who’s struggling with a disability, serious injury, or disease that keeps them from working? Many companies and employers in the D.C. area offer long- term disability insurance (but of course, there is a catch — it is a complicated insurance policy and system that favors the insurance companies, and a lot of people just take “no” for an answer and give up if the insurance company denies their claim). We give people a plan to fight that decision! Have them reach out to us for a confidential strategy session . We can guide them through the process so they can stand up to the insurance company!

PEACH COBBLER

INGREDIENTS • Cooking spray •

• •

1 box yellow cake mix

2 15-oz cans sliced peaches in syrup

1 1/2 sticks (3/4 cup) of butter, very thinly sliced

•

1 tsp ground cinnamon

•

Ice cream, for serving

DIRECTIONS 1. Preheat oven to 350 F, then grease a 9-by-13-inch baking pan with cooking spray. 2. Combine peaches along with syrup and cinnamon in prepared baking dish. Stir to combine. 3. Pour cake mix over peaches in an even layer. Layer butter evenly on top. 4. Bake until fruit is bubbly and cake is cooked through, about 50–55 minutes. 5. Serve with ice cream.

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Donahoe Kearney, LLP 708 Pendleton Street First Floor Alexandria, VA 22314 202.393.3320 DonahoeKearney.com

INSIDE THIS ISSUE

1 10 Things to Do in the DMV This August

2 Insights on the Real Estate Market With Boyd and Kathy

3 Know Someone With a Long-Term Disability?

Peach Cobbler

4 Frank’s Column — The Will to Win

THE WILL TO WIN

We’ve all heard about the will to win, usually describing an athlete or team. I just saw a talk by Michael Canic, the author of “Ruthless Consistency,” and he framed it a little differently (he’s a former football coach as well). He said the question is really, “Do you have the will to do what it takes to win?”

Now, most of us don’t play competitive sports any more, but isn’t this something we can apply to all phases of our lives? Do you have the will to do what it takes to be the best spouse, parent, child, friend, leader, worker, boss, etc.? And if doing what it takes to win is really doing everything we can to be the best person we can be, then that’s pretty powerful stuff.

Do you know someone we can help? We make it easy on you to refer your friends, family, and coworkers! Just have them call 202-393-3320 or use this QR code for a confidential, no-risk assessment of their case. - Frank Kearney

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