Ray Wedell You Tube Channel

Real Talk, not Realtor Talk

I recently created my own YouTube Channel to fill a glaring need in today’s real estate market: the need to provide quality real estate information on relevant topics in a clear, intelligent, and concise manner.

There is an endless supply of Realtor mantras available everywhere (even thrown at you when you don’t want it). Let’s get away from that and get to the back story others can’t or won’t talk about.

YouTube Channel is “RayWedell”, and the series is “The Back Story”.

See the one minute trailer below, and feel free to subscribe:


There has been some discussion recently about the changes in the process for buying and selling homes that might lead people to believe they should “go it alone” and not use a Realtor as Buyer Agent. Quite frankly, a crazy idea.


Here is why:


  1. The seller pays the real estate commission anyway, and if you think you will lower the price of the home by finding the direct Listing agent and “working directly with the listing agent,” don’t kid yourself. The Listing Agent will still take a piece of the Buyers side commission (if not all of it), and his/her loyalty is totally with the seller.
  2. The internet is not entirely accurate. Outdated comps, conflicting forecasts (many of which are so far from reality as to be a joke), and different rating schemes all cloud the issue. A Realtor definitely has the latest information, and if you choose someone who has great knowledge (choose your Realtor wisely), you will benefit greatly from the comfort and accuracy he/she provides.
  3. You are looking into a neighborhood with which you are not totally familiar. A professional who understands the neighborhoods you are looking into can give you information about market developments that you will never be able to find yourself. His or her knowledge of the intangibles and potential future developments also are extremely important.
  4. Negotiating Ability. I must admit that this is an intangible at which there is huge disparity in ability from one Realtor to the next. However, I am assuming you have done your homework on Realtor selection, and will choose somebody who is better than you would be when going up against another real estate agent. Perhaps MUCH better.
  5. Do you really have time for all this? Hiring a professional to help in your search and your analysis is so worth it. Really.

Let’s eliminate much of the uncertainty in your next home search.

Allow me to do what I am well trained to do: help you !



Ray Wedell, CFA

Samson Properties



YouTube: RayWedell (subscribe)

Facebook: www.facebook.com/DCRealtor1




Buying a Home Through Zillow is so Easy, Right???


Nobody needs to tell you how rapidly the world is changing, and nowhere is that change more evident than in today’s residential real estate market. The most prominent driver of the change has been Zillow. The rapid nature of the change, in addition to the uncertainties and glitches one expects when a huge new program is rolled out, will inevitably lead to some confusion on the part of buyers and Realtors in the loop. This brief guide will attempt to clear up these uncertainties.


What is a Zillow Premier Agent?

Zillow is NOT a real estate agency and does NOT directly connect buyers with sellers, nor buyers with listing agents. The Zillow model is based on the premise that Zillow can provide massive amounts of good data to allow you, the buyer, with a great idea of the attractiveness of certain neighborhoods. Zillow correctly realizes that such a broad-based data system (and any others in existence today) have sever limitations when it comes to “local knowledge.” This is where the Premier Agent comes in to play for you.

Zillow makes its money by having real estate agents around the country buying advertising on its site. This takes the form of local expert agents buying exposure to potential buyers through zip codes in which they consider themselves expert. Zillow considers these agents as the experts in the specific communities in which you show interest, and when you click a listing in these agents’ areas of expertise, you are generally given three options of agents to call. These agents are referred to as “Premier Agents” in that community.


Why Should I Use the Premier Agent? Why not try to locate the Listing Agent?

Simply stated, the Premier Agents dedicate an enormous amount of time in their specific communities, and have a history of success you will not get by searching for agents on your own. There is a major myth floating around in some circles that you will be better served by contacting the actual Listing Agent on a property, and nothing could be further from the truth. In many jurisdictions, the Listing Agent cannot also be the Selling Agent, and even in states in which this is permitted (Virginia being one), there are strong warnings in Listing and contractual documents against doing this. The reason is simple: The Listing Agent has a strong code; he/she MUST represent the interests of the Seller in the strongest way. There is no ambivalence about this: The National Association of Realtors and most others warn buyers AGAINST dual agency situations, and in the case where a Listing Agent show you a house that may be of interest to you, it is highly recommended that you get another agent to represent your interest completely.

There would be no better choice than for you to choose to work with a Premier Agent in the designated community.


But will I save money by using the actual listing agent?

In the overwhelming majority of cases, the answer is a resounding “no”. The seller pays all real estate commissions. The only way this might be true is if a Listing Agent proposes to “cut a deal” with you to somehow provide a better deal based on his/her reducing commissions to the seller. This is often a very small amount and does not at all overcome the fact that this agent is clearly obligated to be a strong advocate for the other side of the transaction from your side. Don’t fall for this.


But I thought that when I clicked for more information, I was being connected to the Listing Agent? 

This is a common misunderstanding. Zillow connect you with a Zillow Premier agent; someone who knows the neighborhood well and is a Buyer’s Agent for this home. You are highly unlikely to be connected to the Listing Agent, and as stated above, this is actually a good thing for you. Always get your own representation.


But each time I click on a Zillow property, I seem to be connected to a different agent?

This is probably the source of more confusion and frustration than any. I consider it a major glitch in the Zillow program, and a source of buyer and agent angst that should not exist.

This is the problem, and I will provide a suggested solution. Too many buyers go to see individual properties with different agents they contacted through Zillow by separately clicking on the “more information” button. The agents have no idea what other properties you are looking at, nor how many other agents you have contacted. Compounding this problem is that you may have visited neighborhood open houses, and now are being aggressively pursued by the Listing Agent.

Too many buyers believe they need to categorize each individual house with the particular agent who showed them the house. Nothing could be further from the truth, nor create more anxiety in your search.

I will provide a recent example of how this becomes an extreme source of frustration for both the agent and the prospective buyer:

  • I recently was given a buyer lead from Zillow to see a nice town house in a good neighborhood. There were two other listings in the neighborhood, so I arranged for showings on all three properties. This would greatly benefit the buyer, and is a somewhat time-consuming service prided by the Buyer Agent. After seeing the first home and finishing by 2:20, the buyer begins to hem and haw about seeing the next home. This makes no sense to me, and he finally reveals that, “I set up an appointment with another Zillow Agent to see THAT one at 3:00.” So now the buyer has to kill 40 minutes, the agent he was working with (me) has to cancel our 2:30 appointment and enter into a ludicrous competition with another unknown agent, and both buyer and Zillow Agent are on a lose-lose merry-go-round.

This is a comfort thing: CHOOSE ONE AGENT AND WORK WITH THAT AGENT!!!!!!!

I cannot implore you enough on this. Trying to find the Listing Agent on each property, or agreeing to meet with all sorts of different agents to see different properties is a frustrating game that is almost guaranteed to have a losing outcome. Don’t do it.

The alternative is simple: Work with the agent who seems most knowledgeable to you, and the one who will be personable and easy for you to work with. When Buyer Agents realize that you are not committed to working with them, they will not provide the type of diligent work you need from an experienced professional. The process of searching for homes can take months, and no good agent will commit to doing this while knowing you are also trying to use other competitors. Only a foolish agent, or one who has nothing else to do, would ever agree to do this.

Once again, the solution to the multiple agent, Zillow-directed, problem is as follows: Choose the one agent you are most comfortable with and develop the rapport necessary to make a great decision.


If our paths cross in your search using the Zillow Premier Agent program, I will provide you with diligent effort and detailed expertise in the neighborhoods you choose to consider. That is my pledge, and I look forward to working with you.



Ray Wedell, Realtor

Zillow Premier Agent

Chartered Financial Analyst, CFA










During the past few months, listings in the area have dried up considerably, and the current market is one identified with more willing buyers than desirable properties available for sale. In other words, despite relatively light transaction volume overall, the pressure is coming from the buyer side of the equation, not the seller side.

As the weather warms up, and we approach the traditional D.C. area “spring market”, potential sellers are beginning to inquire about the proper time to sell.

In Chapter 12 of the book “Zillow Talk”, by Spencer Rascoff (CEO, Zillow) and Stan Humphries (Chief Economist, Zillow) the Zillow executives go into great detail analyzing their deep data base to study this question. Although each market is different, and the economic conditions vary from year-to-year, the overall data suggests that to both sell fast and make more money, sellers should, “Put your home on the market after you fill out your NCAA March Madness basketball brackets, but before someone slips on an ivy-green jacket at the Masters Golf Tournament at Augusta National.” 

What they are saying is that according to the data, the best time to list in this March-early April time frame. This is often the time when buyers begin to surface in a serious manner, and not too many listings have hit the market. So rather than wait for the traditional barrage of listings in April and May, get slightly ahead of the curve. To list any sooner risks have the home accumulate days on the market, but getting March exposure is likely to be the most advantageous from a supply/demand perspective.

From my intuitive and empirical observation of conditions in the Reston market today, and the markets in most of the D.C. area as well, the dynamics described above are in place.

I welcome a call from you to discuss this in detail. If you are thinking of listing your home for sale in the near future, I specialize in helping sellers reach logical economic decisions in how and when to list their home for maximum sales price in minimal time on the market.


5-star service and expertise


Ray Wedell, Zillow Premier Agent

Realtor, Samson Properties

Chartered Financial Analyst, CFA






The housing collapse and fall out for those caught in its crossfire is not yet a distant memory; however, millions of previous home buyers may be ready to enter the housing market over the next two years. This segment of the market has prematurely been identified as potential buying sources in the recent past; however, now that pundits have mostly turned away from them, clear factors are in place for a strong increase in buyer demand from previous homeowners recently shut out of the housing market.

What is a “boomerang buyer”? The general definition for a boomerang buyer is someone who was a former homeowner who was forced to go through a short sale, foreclosure, or bankruptcy in the past, and who has since been saving money and improving his/her credit rating to better able to qualify for a mortgage loan again.

What has precluded this group from stepping up and buying in the past few years? There are many factors here, and each case is different. The most often cited reasons are as follows:

  • The mortgage regulations are very strict in not allowing recent homeowners who have lost a home through short sale, foreclosure, or bankruptcy to re-enter the market using most of the available alternative lending platforms.
  • Mortgage qualifications have become much stricter in response to the market collapse of 2008-2010. Political leaders were lax to see the negative impact of overly aggressive mortgage policies leading to millions of “bad loans” being made, and the response to improve lending quality has resulted in much tougher qualifying standards for all Americans.
  • It takes time to rebuild, whether it be to rebuild individual credit scores or rebuild savings necessary for a down payment and closing costs on a home purchase.
  • The general shock and debilitating emotional effects of losing a home also impacts any potential buyers from re-entering the market as owners again. This factor is slowly eroding over time.


Why will sales to these people increasingly look to re-enter in 2017-2018?

  • Most boomerang buyers are market savvy; they understand my basic Ten Reasons to Own a Home, and realize that in the long term, the benefits of owning outweigh the benefits of renting in most cases. They want back in.
  • Rent rise, and most boomerang buyers have seen increases in monthly payments for housing, whereas home buying provides an opportunity for stable payments for the life of the loan.
  • They understand the many tax benefits of owning versus renting.
  • Markets have stabilized, and many are showing early signs of a major rebound.
  • The elapse of time: Credit agencies are reporting that credit scores for large numbers of previous short sale victims are rising rapidly. In fact, 68% of people in this class have higher average credit scores than all others combined. As the length of time since losing one’s home increases, the effect of a negative, or derogatory, credit event on one’s score decreases or may even be eliminated. There are several timeline points to be aware of, and I welcome a call from you to discuss details. However,  for purposes of this essay, keep in mind that seven years is a key time elapse from time of short sale to one’s present circumstances to clear derogatory credit of this nature. And given the importance of a raw credit score to home loan qualification, this is probably the major reason for a buying surge from boomerang buyers in 2017-2018. Given the large numbers of short sales and foreclosures in 2010 through 2012, millions of those who lost their homes and have been renting, will be strong qualifiers for a new loan. Most of them know the mortgage qualifying from previous purchases, and want to be home owners, not renters.
  • Extended period of low interest rates: Most potential boomerang buyers are accustomed to much higher interest rates than what is available today. In fact, today’s long-term fixed mortgage rates are lower than the first year “teaser” period on ARMs that existed when they were homeowners. This is no small factor in terms of actual economic benefit, and psychological/emotional reasons previous homeowners will want to be owners again.
  • Prices increases could get boomerang buyers “off the fence” faster than other other buying groups: Prices have not increased in our area as much as one might expect given extremely low interest rates and higher rents. For the most part, boomerang buyers are well aware that the current market favors buyers over renters in most economic situations. Once they see a market that looks very active and threatens to bring back days of bidding wars and the like, they will likely jump in in much larger numbers.
  • The shear increase in those who will satisfy the needed required time frames since foreclosure/short sale to qualify again will drive up the potential buying pool, regardless of factors stated above. In summary, an elixir for more buyer demand may be brewing. The impact of this increasing buyer group, on the margins as economists are and of reminding us, should not be minimized.


I welcome all questions and discussion on this important topic and anything related to D.C. Area residential housing.


Ray Wedell

Chartered Financial Analyst, CFA

5-star service and expertise

Samson Properties









(rare night pic of Wash Monument)                                                 As we enter 2017, it is that time of the year for something I usually avoid: Annual Forecasts. Everyone seems to make them; how many ever pan out?

washingtonmonument                                 But the enormous change and uncertainty that people feel following the past election, and introduction of a new Administration increases uncertainty, compels me to outline where we are and where we are likely headed in terms of residential real estate in Northern Virginia and Washington, D.C.

First, according to a recent Inman survey, the gauge of professionals’ optimism is as follows, nationwide:

—- 27% of respondents claim to be “optimistic” about the overall housing market.

—- 52% say that Donal Trump will have a positive impact on real estate markets.

—-50% think unit sales will be higher in 2017 than 2016.

—- 75% believe prices will rise in 2017.

My followers know that I am always hesitant at a time of universal optimism or pessimism. The survey results indicate a very mixed bag, as most real estate surveys prior to any year have a slightly upward bias. So the above results are not too different from the norm.

Trends Which We Will Likely See in 2017:

—— I am in the camp that says the long period of incredibly ultra-low interest rates is over. I am somewhat surprised that we have not seen more price appreciation over the past few years given how low interest rates have been. I am also concerned that with today’s long term fixed rates at levels lower than most us us used to consider “teaser” rates on an ARM, new entrants to the market have become too complacent in assuming these rates continue. How buyers react to higher interest rates will be a major factor in real estate sales and prices in 2017. Housing as a form of stability and long term wealth creation will be re-introduced as a driving force for buyers in 2017.

Prediction: With inventory levels at extreme lows entering 2017, the initial move in prices will be up, as buyers scramble to purchase the better alternatives, and do so while interest rates are still extraordinarily low.

—– 2017 will be seen as an unusual year marked with high unpredictability. There will be greater differences in demand from state-to-state, town-to-town, and neighborhood-to-neighborhood than we are used to seeing. I say this for two reasons: 1) The “Trump Effect” will reallocate areas of emphasis for capital that will be a boon to some areas and not to others; 2) The nature of real estate sales, and public awareness of alternatives, is changing on a daily basis. This trend is not going to decelerate in 2017. Such changes will make many of today’s cast-in-stone mantras less relevant and in some cases, obsolete. It is easy to say there will be significant change. Pinpointing what that change will be difficult, and how it will effect the overall industry remains the challenge. What will be viewed as uncertainty will actually be a progression from one way of doing business to another; of viewing alternatives in a different way than in the past.

Prediction: The era of the part-time real estate professional may be coming to an end. Technological changes and the need for knowledge will force those who hope to be successful to be on top of things everyday. This will become a necessity for those hoping to succeed. The pace of change and introduction of new technologies will increase, not slow down. So will demands on individuals and firms.

—– Higher interest rates are likely to free up inventory, which could lead to an explosive spring market. Granted, this is a bold statement and may be based on hope and intuition as much as facts. However, low inventories are the norm now, and many of those homes still for sale are on the market for a reason (poor condition; not showing well; markedly overpriced, etc.). Well-priced homes are selling almost immediately across-the-board. If interest rates begin to rise, sellers are likely to surface who do not want to “miss the boat”, given the traditional relationship between interest rates and housing demand. Buyers (and there are many sitting on their hands at this point) will respond to the improvement in inventory by stepping up before interest rates get beyond their affordability ranges. Fundamentals for an active spring market are very much in place. Potential sellers should take great care in choosing a listing agent. Buyers should use premier sites like Zillow and stay abreast of inventory in their desired markets.

Prediction: Changes in Administrations generally increase activity. Changes which fundamentally shift employment emphasis do so even more. Both factors are in place now, in addition to a long hiatus of low activity in a period of low interest rates. Volumes will increase. The chance that a “sling shot” effect takes hold is not to be ruled out; volumes could boom this spring.

—– The average age of first time home buyers has been increasing. This is no longer a young “millennial” market (aren’t we tired of hearing this yet?) but a very mature group of renters who are beginning to surface as real buyers. They are smart, know what their life style is, and have a keen eye to the future. This group will be significant buyers in 2017.

Prediction: Demand from new buyers, particularly at the middle and lower-middle price ranges, will be strong in 2017.

—– For Reston in particular: The overbuilding in new rental units will set the stage for future condominium conversions, likely in 2018-2020. The process of getting project approval, construction, and sales for major new projects is extraordinarily lengthy. Many of the buildings coming online now were planned during a completely different economic time. Today’s “rental squeeze” is becoming more of a mirage, and the likely introduction of over 2,000 new rental units in Reston alone in the immediate future will likely transform this market in ways people are not considering today. How do these periods of overbuilding/underbuilding always occur? For many reasons, but for the current crop of upcoming units, decisions to make these rental units were made years ago when investment capital was raised for their financing. Rising prices will likely generate requests for condo conversion in many rental buildings, but that effect likely will not take hold until 2018-2020. There will be a glut of “luxury” apartments that will rely on higher overall prices to correct an upcoming imbalance between rental housing and demand to own. Apartment managers will attempt to disguise the burden through aggressive move-in incentives and unpublished individual “deals”, but this is merely a response to an environment in which supply exceeds demand at builders’ desired prices, and one in which developers seem to be all building to the same price point rather than where the demand is likely to be. Keep in mind: This is NOT the prevailing opinion out there today, but my own conclusions based on personal observation.

—– Expect the unexpected. We are faced with a changing environment on almost all fronts, and the pace of change in many areas is simply mind-boggling. Those sticking firmly to a plan set in stone on January 1 to get them through the entire year will suffer, as quicker organizations/people identify changing trends and act accordingly.

Ray Wedell, Zillow Premier Agent

Realtor & Chartered Financial Analyst, CFA

Samson Properties







BACKGROUND – As we roll into 2017, a number of owners of rental properties have inquired about the proper way to market and sell their homes. Having seen so many homes offered for sale in the past few months that are in rental status, I want to pass along some meaningful hints and ideas, should you be looking to sell your rental property in 2017.


Recurring observations:

  • Homes with renters currently residing within can often be problematic in a sale. It is highly unlikely that such homes, even if kept clean and neat, will show in a manner to extract top dollar. Furthermore, most rental homes do not show clean and neat, and some are in horrendous showing condition. If you intend to sell while tenants are in the home, every possible step to assure tidiness, cleanliness, and excellent appearance must be taken. Communication and cooperation from the tenant is crucial here. Call for details and ideas.
  • If showing a vacant , unfurnished home, the highest premium is attached to showing it in “like new condition”. Keep in mind that every carpet stain or paint scratch is magnified when a home is unfurnished. However, a home in pristine condition that is empty does give the potential buyer a great feel for being in “move in” condition. This often proves to be a more effective way to sell a home than one that is cluttered or even “staged” ineffectively.
  • Staging – Depending on the cost to the seller, some staging can be very effective in improving marketability. However, often a seller can use common sense and “stage” their home effectively without hiring a professional stager.


Tax Implications – In all cases in which complex tax matters may come into effect, contact an excellent tax attorney. This is particularly true in situations such as 1031 tax exchanges, which are common in our area.


If you are selling, please feel free to contact me – I specialize in selling homes in your area. I am a Reston Association Board member, a Board member at Rescue Reston, and in general, keep up with local trends. I also have exceptional marketing and sales skill.


As a Zillow Premier Agent in all Reston zip codes, I also touch more local buyers than others, and focus on selling in this area. And the total sales cost to you is 4 ½%, not 6%. We are now in 2017, and common sense have merged with technological change to make it a more realistic and fair means of selling homes. It is literally NOT true that “you get what you pay for” in terms of real estate commissions charged to you. In 2017, you deserve the highest quality service and marketing without paying a previous century’s “standard fee.”


Please contact me for any further information.


Thank you.


Ray Wedell, Zillow Premier Agent

Samson Properties

Chartered Financial Analyst, CFA



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