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Buying a Home? What’s an Escalation Clause?

By PoP Sponsor (a)

With housing inventory low and the market so competitive, many Buyers are seeing multiple competing offers when they find a home they like. How can you stand out amongst the competition without overpaying? The escalation clause is the tool you can use to keep you in the game. But many don’t understand how they work and what they mean when you make an offer. Every offer includes important terms beyond just price — contingencies, proposed closing dates, deposits and more. Winning on price is important, but you don’t want to overpay either.

Here are some things to keep in mind when preparing an offer with an escalation clause:

  • Your offer has a base price and ONLY escalates if a higher offer is on the table: If there are multiple offers on the table and you decide to submit an escalation clause, you will include an offer price that would only escalate if there is another higher  “bona fide offer”. Meaning that the Seller has to show you the other offer as proof that your base offer has been beaten and that you are being escalated on price.
  • Your escalation clause is capped at the max price you are willing to go up to: So you are willing to beat other legitimate offers up to a certain point, but not above… That top number is referred to as the Cap. You indicate that you are willing to go up to, but no higher than, a certain number. That way you only pay up to your pre-determined cap if you need to in order to win.

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DC Open House List for This Weekend

By PoP Sponsor (a)

This week we have nearly 250 open houses scheduled across the District with an abundance of row home opens this weekend. Make sure your agent has a strategy to keep you safe while searching for your next home. To see the full Open House List, click here.

  • 1647 C Street NE — $885,000 — Hill East
    Open Sat. 12-2 p.m. & Sun. 2-4 p.m. — John Coleman
    “Tucked into the Hill East neighborhood, this home has a lot to love and shines with the love it’s been given. Updated in 2017, this open-concept home delivers a ton of space across three floors, four bedrooms, and three and a half baths. Start with the owner’s suite, which features raised ceilings and an ensuite bath. The main level is an entertainer’s dream, with an open-concept vibe and a perfect gateway to the private outdoor space. The basement has a massive pantry, additional hangout area and a bedroom suite fit for any of your favorite visitors. Oh, yeah — don’t forget about the private off-street parking spot! It’s large and will easily accommodate a car or SUV. The current owners loved frequent strolls to Eastern Market and Congressional Cemetery (the best-kept secret of a dog park in the city). With nearby access to grocery stores like the hip new Safeway, Whole Foods and Trader Joe’s, your options have never looked better.”
  • 1529 14th Street NW #403 — $615,000 — Logan Circle
    Open Sun. 1-3 p.m. — Andres Serafini
    “Fantastic and rarely available 2 BR/2 BA condo in The Matrix — one of Logan Circle’s most popular boutique buildings.”
  • 1612 Levis Street NE — $1,250,000 — Trinidad
    Open Sat. 12-2 p.m. — Traci Johnson
    “Built from the ground up in 2020, this 2-unit property offers (Unit A) 2 BD/2.5 BA, keyless door entry, recessed lighting throughout, rear parking pad with remote controlled steel door entry and an electric car-charging outlet.”
  • 3922 Q Street SE — $475,000 — Fort Dupont Park
    Open Sat. 2-4 p.m. & Sun. 12-2 p.m. — Lou Cardenas
    “This delightful row home in Fort Dupont Park offers 3 bedrooms, 2 full baths, a renovated open kitchen with stainless appliances, granite counters and freshly painted cabinetry.”
  • 1906 4th St NE #P-1 — $540,000 — Eckington
    Open Sat. & Sun. 2-4 p.m. — Michelle Doherty
    “This stunning 2 level, 2 BD/2 BA with 10 ft ceilings in the heart of Eckington has been BEAUTIFULLY remodeled with brand new GE appliances, quartz countertops/waterfall island, brand new floors, marble backsplash, modern LED lighting throughout, updated bathrooms and MORE!”
  • 705 Randolph Street NW — $1,450,000 — Petworth
    Open Sat. 2-4 p.m. — Chris Craddock
    “Welcome home to this beautiful 4 level stucco finished home in Petworth! Plenty of space in this home, with 7 bedrooms, 4 full bathrooms and over 3,000 sq ft of space!”

Petworth’s Kennedy Counseling Collective Has Appointment Openings

By PoP Sponsor (a)
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Kennedy Counseling Collective, a local woman-owned business in Brightwood-Petworth, has welcomed three new members to its team.

Therapists Sharai Bradshaw, Melissa Erickson and Morgan Carrillo each offer individual, relationship and adolescent therapy services. They have various specialties including anxiety, grief and loss, LGBTQ+, and trauma.

You can learn more about them in their online bios.

Sharai, Melissa and Morgan all currently have appointment openings. You can book an appointment online.

Each appointment starts with an initial 15-minute virtual consultation. Appointments are virtual at this time.

A New, More Affordable Model for Property Management

By PoP Sponsor (a)

Owning a rental property can be a great source of income, but paying a traditional property management company the standard ‘one month’s rent’ per year can dig into your profits. Petworth locals Andrea and Jeremy Surette are offering an alternative solution: By the Hour Property Management.

Most rentals don’t need constant attention or repairs. Instead of paying high annual rates, only pay for services when you need them. For a flat rate of $95 per hour, By the Hour Property Management is an affordable option for homeowners who need occasional help managing their income property.

Services range from letting a plumber into an apartment, finding great tenants, helping a homeowner coordinate a cross-country move, overseeing tradesmen making repairs and more. No job is too big or small, so contact By the Hour Property Management today to see how they can help you manage your rental!

Check out their website for more information regarding their services or schedule a call to discuss what they can do for you.

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Real Estate Fresh Finds: March 17

By PoP Sponsor (a)

Real Estate Fresh Finds is a weekly selection of newly-listed properties in the District, brought to you by Real Living At Home.

Featured Property of the Week: 204 Beacon Place NE

“This lovely colonial style home is nestled by crape myrtle trees on either side nurtured by the in-ground irrigation system. You might easily forget that you’re in the city. But with nearly 3,000 square feet of living space to call home, you might not even see much of the neighborhood! This Hampshires home also boasts a private outdoor patio and deck, as well as a generous balcony behind elegant French doors in the spacious, cathedral-ceilinged owner’s suite with custom his and hers closets and a cozy ensuite bathroom! If this all sounds like music to your ears, that might actually be the built-in Bose sound system, but this song is just getting started! Step further into the formal dining room, where you’ll satisfy more than taste with a gorgeous bay window with banquette. Or, shut the world out in the first-floor space that’s perfect for a dedicated library, sitting room or study. You’ll find this flexible theme repeated throughout this lovely four-bedroom home, where you’ll find an additional bedroom with an ensuite bathroom and one that might become a home gym. Or would that be better suited to the third-floor loft space? Now you’re cooking! Rather, you will be — with gas — in the gourmet kitchen with double ovens, granite counters, and an island that flows right into the family room, where even the coldest winters are cozy, thanks to that glowing gas fireplace. In warmer months, entertaining couldn’t be easier as the family room’s French doors open right onto that aforementioned patio.”

Other Notable Fresh Listings:

  • The Most Expensive Home of the Week is a 4 BR/3.5 BA detached Victorian in Georgetown with 3,600+ sq. ft. spread across 3 levels and includes a stone family room, a formal dining room, numerous built-ins, 3 fireplaces (2 in one room!), a luxurious owner’s suite and a private, heated pool — all for $4.25M.
  • This 2 bedroom, 2 bathroom home at the Logan Park Condominium lives like a townhouse. Featuring a private entrance on N street, as well as an entrance into the building lobby to access the mailroom, courtyard and rooftop terrace.
  • Spacious corner lot with 2 main entrances on the edge of Petworth boasts an open layout with multiple fireplaces, dark hardwood floors and a fenced-in backyard along with a lower level rental unit with its own entrance and kitchen.
  • Your REO/Bank-Owned Property of the Week is a 2 BR/2 BA condo right off Georgia Ave. that has been recently renovated both in-unit and the building in general.

See the Difference a Living Wage Makes With Well-Paid Maids

By PoP Sponsor (a)

Dear PoPville readers,

Did you catch one of our employees on CNN? Click here for the video!

With Congress considering raising the minimum wage, Nishad decided to share his story about how earning a living wage at our company has improved his life and his prospects for the future. While we at Well-Paid Maids are disappointed that the minimum wage was not raised in the American Rescue Plan, we are hopeful that stories like Nishad’s can help convince Congress to act in a future bill.

As the D.C. area’s only living-wage home cleaning service, it’s obvious to us that every employee should earn a living wage. That’s why all our employees make at least $17/hour and receive a full benefits package including 22 paid days off, health, dental, and vision insurance, and 100% employer-paid commuting. As you saw in the clip, we’re able to make a big difference in the lives of our staff by paying a living wage plus benefits.

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DC Open House List for This Weekend

By PoP Sponsor (a)

With regularly 65+ degree weather this week, getting outside is a no brainer. There are 275+ open houses scheduled across the District this weekend, so if you’re starting (or continuing) your home search, it’s a great weekend for a stroll about D.C.! Make sure your agent has a strategy to keep you safe while searching for your next home. To see the full Open House List, click here.

  • 1439 G Street NE — $765,000 — H Street Corridor
    Open Sat. 12-2 p.m. — Ashley Brudowsky
    “Just steps from H St, this charming row house is the one you’ve been waiting for! The first floor boasts an open layout, hardwood floors, exposed brick and a large kitchen ideal for entertaining. This home has been loved and updated over the years — roof (2021), exterior paint (2021), tankless water heater (2018), HVAC replacement (2014). Hurry — this one won’t last long!”
  • 5227 New Hampshire Avenue NW — $949,900 — Petworth
    Open Sat. 2-4 p.m. — Kevin Wood
    “You’ll love this gorgeous 4 bedroom, 3.5 bath row house from the minute you walk up the front steps to the pretty front porch (with views over a lovely park)!”
  • 2724 12th Street NE #7 — $570,000 — Brookland
    Open Sun. 2-4 p.m. — Michael Sheridan
    “This stunning townhome style condo is like new! It’s a modern, light-filled home with gorgeous hardwoods throughout the main level and hallway upstairs, custom window fixtures, custom closet organizers, and an open floor plan perfect for entertaining.”
  • 2412 17th Street NW #10 — $569,000 — Adams Morgan
    Open Sat. 1-3 p.m. — James Thomley
    “This spacious and inviting 2 bedroom 1 bath condo in the heart of Adams Morgan is the perfect location for city living with all the conveniences literally only steps away! Light-filled at all times of the day, this home features hardwood floors throughout with oversized windows and a large wide balcony stretching the entire length of this unit.”
  • 1324 E Street SE #309 — $485,000 — Capitol Hill
    Open Sun. 1-3 p.m. — Heather Sand
    “Welcome to Luxury at its finest in Capitol Hill, The Buchanan School: A Ditto Project. Features of this unit include 10′ plus ceilings, custom closets, washer/dryer, gourmet kitchen with soft close drawers and doors, quartz countertops and backsplash, under-cabinet lighting and Bosch appliances.”
  • 1932 9th Street NW #201 — $729,900 — U Street/Shaw
    Open Sun. 1-4 p.m. — Thomas Doyle
    “This sleek and modern condo benefits from high end finishes and an open floor plan. The unit features reclaimed wide-plank oak solid wood flooring and floor to ceiling windows, which let in abundant natural light.”

New Restaurant Must Try: ala!

By PoP Sponsor (a)
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Ala opened their doors Monday, March 1 as a one-of-a-kind Levantine dining experience in the heart of Dupont Circle. Previously known as Ankara, social media has been buzzing with excitement as they began to try the new concept.

Their dinner experience offers a truly unique deal for tasting all that they have to offer. Ziyafet, as they call it, allows guests to try 2 hot dishes and 2 cold dishes per person for $39 each. Rather than being stuck in the traditional norm of a single appetizer and single entree per person, this gives attendees a glimpse into the future of dining.

Picture this: you start your meal off with ala’s house made Caraway Pita dipped into their signature Dried Cacik dip. Made with Çengelköy cucumber pickle, clothed yogurt, roasted garlic and mint powder, this incredible spread has a behind-the-scenes video found on their Instagram! A Söğüș Fennel & Tomato Salad then comes your way, loaded with fresh coriander, tahini yogurt and toasted sesame. As you take in the colors and flavors, your next two dishes are being meticulously prepared — the Pancar Falafel with beet sauce and toasted sesame, and a new spin on Tandir, confit lamb with smoked garlic yogurt and chili quince compote.

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Virginia Tech Online IT Master’s Degree Named Nation’s Best for Veterans

By PoP Sponsor (a)

According to the 2021 U.S. News & World Report’s Best Online Programs rankings, Virginia Tech’s 100% online Master’s in Information Technology is the nation’s fourth best and is ranked No. 1 for veterans.

The VT-MIT program, a joint venture offered through the College of Engineering and the Pamplin College of Business, maintains a top five ranking for the eighth consecutive year. The top placement attests to the program’s enduring commitment to supplying professionals in the field of information technology with the interdisciplinary and emerging skills they need to succeed in a rapidly changing world.

“The VT-MIT program appeals to individuals interested in the intersection of the more technical information technology capabilities and the people skills needed to manage today’s complex workplace,” said Parviz Ghandforoush, the program’s executive director and an associate dean for graduate programs.

The program combines a variety of disciplines within the College of Engineering and the Pamplin College of Business, including computer science, electrical and computer engineering, accounting and information systems, business information technology, and management.

“The VT-MIT program’s top rankings and the appreciative testimonials of our students and graduates underscore the superior quality of our program and its critical relevance for anyone seeking to move ahead professionally,” said Pamplin College of Business Dean Robert Sumichrast. “In today’s innovation-centered workplace, business knowledge and technology expertise have become critical dual strengths for career advancement.”

This year, U.S. News & World Report also ranked the master of information technology program as the No. 1 Best Online Master’s in Information Technology Program for Veterans.

“For veterans looking to enter the corporate job market, the VT-MIT program offers courses and certificates to mitigate the shortage of professionals in such IT fields as cybersecurity, data analytics, big data, health information technology and software development,” Ghandforoush said.

According to U.S. News & World Report methodology, veterans and active-duty service members gain the most from distance education that is affordable, accessible and reputable. The 2021 Best Online Programs for Veterans rankings measure these factors in consideration of financial benefits available specifically to people with military experience.

Learn more about Virginia Tech’s 100% online Master of Information Technology degree and 10 graduate certificate options at vtmit.vt.edu.

Real Estate Fresh Finds: March 10

By PoP Sponsor (a)

Real Estate Fresh Finds is a weekly selection of newly-listed properties in the District, brought to you by Real Living At Home.

Featured Property of the Week: 5227 New Hampshire Avenue NW

“You’ll love this gorgeous 4 bedroom, 3.5 bath row house from the minute you walk up the front steps to the pretty front porch (with views over a lovely park)! The first floor features an open floor plan and large, super-functional kitchen with granite countertops, and gas fireplace. A half-bath on the entry level adds to the functionality of the space. The house has plenty of storage space on every level, and big closets. The large basement has a full kitchen, two nice-size bedrooms, a full bath and living area. Upstairs are two master suites, one of which has dramatic cathedral ceilings and nice views over the park. Washer and dryer on upper bedroom level, as well as in the basement in-law suite. Loads of outdoor space for entertaining, including a back porch and yard. Off-street garage parking.”

Other Notable Fresh Listings:

  • The Most Expensive Home of the Week is a 6 BR/4.5 BA semi-detached Federal style home in Georgetown that boasts 5,400 sq. ft. of luxury finishes and design across 4 levels — all for just under $5.5M.
  • Spacious 1 BR unit in The Mendota, a “Best Address in Kalorama,” with a newly renovated bathroom and kitchen.
  • “Just steps from H St, this [3 BR/3 BA] charming row house is the one you’ve been waiting for” with 2,000+ sq. ft. and has “has been loved and updated over the years,” including a new roof and fresh paint.
  • Your Auction Property of the Week is a renovated 3 BR/3.5 BA Petworth interior row home with 3 fully finished levels and a starting bidding price of $599k.
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