Podcast - 11/10/23
🎙️ Join us for an exciting podcast episode! 🏘️ We kick things off with our annual "Stuff a Truck" event 🚚 where we collect food for those in need right here in Frederick County. It's all about giving back to our wonderful community! ❤️
Then, Jay and Tom dive into the latest real estate updates 📈 and explore why now is a great time to buy a home in this market. 🏡 You won't want to miss their valuable insights!
And of course, don't forget our amazing "House of the Week" 🏠 featuring 2606B Egret Way in the Market Square community in Frederick. This condo offers over 2700 sq ft of living space, a gourmet kitchen 🍳, a spacious master suite, and community amenities like a pool! 🏊♂️
Tune in for a dose of community spirit, real estate wisdom, and your dream home! 🤩 #CommunityLove #RealEstateInsights #HouseOfTheWeek #FrederickMD
Jay Day and the Day Home Team of Real Estate Teams, weekly real estate podcast. Jay, it's that time of the year where you guys, the day home team, give back to the public. Here we are coming up on Thanksgiving and once again, we're going to be doing stuff-a-truck at all the Weis markets, non impressionable food items from Frederick County Food Bank.
Yes, super excited about it. We've been part of this for many, many years now, and you're listening to this podcast, hopefully you're listening to it the day it's running on the 10th and we have three coming up before the next podcast. We've got some on what Saturday, Sunday,
I think I see Spring Ridge on Saturday, Prospect Boulevard. I know I'm going to be in Thurmont, Sunday morning. The Weis market in Thurmont, Sunday morning. Then we work our way all the way up to when we take all that food to the food bank. And this is for kids in the area to have, well, to have Thanksgiving and Christmas.
Oh yeah. It's one of the best charity things that we end up doing, going to the food bank, seeing how much we end up getting over to them and actually working with them to see what they're trying to do.
So if you're listening to this, you can go to wfre.com, you'll see where all the dates and times are. You can also, if you follow us, Jay Day and the Day Home Team on Facebook, we post events about it. If you come out, you can make food donations. You can shop and buy the stuff right there. Or we take monetary donations too. And what happens with that is we'll just end up going into that store at that location, purchase things with the money that you have supplied. And when you come out to see us, we have giveaways and goodies that we give you. We appreciate all that you do. It's also not unusual that we have, I always love the Thomas Johnson Drive one too, because a lot of those professional centers, the doctor's offices, they end up collecting in advance and bringing us stuff out.
And unfortunately as we get older, you and I have definitely seen some doctors and have some people over there.
We know. Yeah. We're familiar with all those buildings over there on Thomas Johnson Drive.
Yeah. And they come in pretty strong. Typically though,
And my hometown of Thurmont, they always step up as well. I mean, it's a great time of year because it's just people helping out other people. So you can't help but feel good.
Exactly. Exactly. So like I said, check it out. We'd love to have you stop by and like I said, we'll take care of you, give you a couple little things for your time and for making the donations.
Also, all these Weis markets, if we're not there, they're taking your donations while we're not there. You can donate all week. Some of 'em got a little $10 bag set aside. We'll get those donations. We don't have to be there for you to help out.
And it's always interesting because people are like, oh, I missed it. And I'm like, no, no, no, you can go there. Because typically what we do, the team at WFRE and those who sponsor this event, it will say, okay, I'll hit these three stores and grab anything on my way. We sort of break out, I always end up going back to Spring Ridge because that one's super close to me and we're like, we'll figure out, I'll go to Mount Airy. I'm like, if there's anything there, nothing gets left behind.
Yes. Yeah, don't worry about that.
Yeah, we make sure we take care of that because again, this is taking care of our local people here, right in Frederick County.
So let's talk about the last podcast. We talked about what's going on with stats. We've talked about interest rates going up. We've talked about low inventory numbers. So the question really is, and we get this a lot from people, is why should I own a home? What makes sense about that? Especially right now, because people are like, their mortgage rates are high, the prices are high. So one of the key pieces that we explain to people is that home values appreciate over time. So now over the last three years, it's been sort of crazy with the rate it's been hitting at, but this last year we've been appreciating at more of a normal pace. And again, we talk about getting back into normal, but history overall does show in the long run that home values rise. When you look at the data from the Federal Reserve over the last 60 years, basically it has, home prices have risen consistently with one exception. That one exception was the housing crash of 2018. I mean 2008, sorry about that. But overall, home values have been consistently on the rise outside of that one blip on the radar. So increasing home values, what does that mean? As you're paying your mortgage down, you are increasing your net worth, you are building equity, which is all a good thing. The next thing is when you're looking at buying a home as opposed to renting, you are locking in your monthly housing cost. You have control over what your payment is. Where the best example I like to give right now, especially here in Frederick, is the city of Frederick came up with some rules. I dunno, maybe it's been a year, I don't do rental, so I don't know all the dates, but I know that there was homes in Frederick City and they made some requirements that all the homes have certain upgrades and improvements done to them. And when they did that, that got everything put on the individual owners to do these renovations. The individual owner does the renovations. Do you think that that individual owner, it's not going to trickle down to the renter? No, of course it does. So if they had to spend $50,000 in renovations, they can not charge that tenant the same amount of money because they have to recoup that money that they were forced to spend. So again, if you want to have control over what your monthly payment is, that is one way to do it. And just like we talked about house values going up over the course of since the sixties, we have the same thing on the rental side. It's spent a steady increase over the last six decades of what you're paying. Christina was telling me, we have a client right now that was just renting a three bedroom apartment, not a house, not a townhouse, not a condo, in an apartment building here in Frederick County, three bedrooms, two baths, and their rent was over $3,500 a month.
Wow. Man, that's incredible. I understand.
Yeah, that's crazy.
That seems crazy. It's sort of out of my purview. I can't even wrap my head around that.
So I mean, as they say, homeownership is a way to build wealth. It always has been. It typically always will be. And again, you get a little bit of control over your future. And the same thing. You want to paint a room, you want to do something to the house. And sometimes landlords do allow that, but you have to ask permission. When you own your home, you can change the paint colors. You don't need to get approval. You can change this. You can do all types of things because it's yours. You don't have, I mean technically it's the banks because they have the mortgage, but you don't need to call your bank and say, hey, Mr. Mortgage Company or Mrs. Mortgage Company, is it okay if I paint this or this deck is getting sort of old, I'd like to have a maintenance free or a low maintenance composite deck instead of the wood. Your landlord controls everything when you're a renter. Everything. So those are just some of the advantages if you want to get into some more of the details, we do offer free consultations. We sit down, we go over everything with our potential buyers. We explain the pros and the cons. And honestly, Tom, there are times where there's some people that we say it may not make sense to do this. And in those situations, for example, if you own, or it may make more sense for them to own a condo, because in a condo, you don't have to worry about your windows, you don't have to worry about the roof. All that's covered by the condo..
You don't have worry about the yard. You don't have to worry about plowing and mowing. Yeah, its snow and mowing.
Yeah. Now, if you're someone that lives paycheck to paycheck and you couldn't handle a roof leak or something like that, then a condo ownership may make sense. And if condo ownership doesn't make sense, then it may make sense to stay asa renter. But everybody's situation is individual. And that's why we like to talk to people on an individual level of let's talk about what your plans are, why you think this makes sense. And we'll give you the good, the bad, the ugly, and then you can make an informed decision about what makes the most sense for you.
Well said. That's why you call the pros.
Alright, you ready for the house of the week?
Give it to us.
Well, first I've got to say I'm a little biased because this location, market Square is a great spot as far as proximity to things. 2606 Egret Way in Frederick. This is listed for 390 and just what we were talking about. So this is a townhouse, that's a condo ownership. So meaning if you buy this and something goes wrong with the roof, you don't have to pay to repair the roof that's covered in your condo fees. You don't have to worry about the grass, you don't have to worry about the windows. So the other neat thing about this, when people think of condos, they think maybe they're not too big. This one has two floors and it's 2,719 finished square feet. It is massive. So if you need space, this is definitely much larger. I mean, this is larger than some regular three story town homes. It has a one car attached garage and then a parking pad that can fit two more cars. So you could fit three cars, three bedrooms, two full baths, one half bath, open floor plan, gourmet kitchen, massive master suite. There's a kitchen island with a breakfast bar. There's a community pool. And one of the neat things, if you know where onelife fitness is out off of 26th, this is the neighborhood that's right there. So you've got onelife fitness, you've got tons of dining, lots of different shopping. You can walk to Wegmans, you can go over to Coalfire, you can go all types of places that are over there, Madrones.
That's a great location if you're living right there. That's really central man.
And I asked the current owner what made him buy there, and his answer was he had two answers. One, because he was looking at regular town homes versus condo, and he said, this condo was bigger than all the town homes. The town homes were 1900 square feet. He is like, this was a no-brainer. He said, I ended up picking this location because I could walk to everything. He goes, I walked to the gym, I walked to the pool, I walked to Buffalo Wild Wings to watch football games, and if I have some drinks, it's not a big deal for me to walk home.
I mean, he laid out all of that and he goes, and honestly, he goes, I'll even, if I don't have a huge grocery run, I'll walk over to Wegman's to get my groceries and walk back home. So location wise, it's great. If you want see photos, go to wfre.com. Look up Tom and Jay's Real Estate podcast. If you like what you see, click schedule showing and we will get you a private tour into that home.
Weekly Real Estate podcast. Thanks for listening and tell your friends all about it and come see us at Stuff-a-Truck.