Owning a home comes with many expenses, including annual property taxes. Although it’s an anticipated cost, steep increases in annual taxes can come as a shock, especially as property values have shot up in the last few years. Fortunately, there’s a process for appealing your property tax assessment that could potentially lower the amount you owe. Below is an overview of the process from the experts at Coakley Realty. Property Tax Appeal – What is It? Your home’s property taxes are based on its valuation, which is reassessed by the assessor’s office every year in Virginia and Washington, DC, a ..read more

Are you thinking about selling or buying a home in the DC area? If so, you’ve probably been reading a lot of conflicting advice on whether now is a good time to do so. As with most things real estate-related, experts have conflicting opinions, meaning there’s no one right answer for everyone. However, most seem to agree that due to consistent demand and low supply, the DC metro area will remain one of the nation’s strongest housing markets, mainly because this past year’s higher mortgage rates have affected the region to a lesser degree than others in the country. What does this mean to intere ..read more

Real estate transactions can be complex, with a language all their own. Whether you’re buying your dream home or selling a property, understanding the terminology and abbreviations used in the real estate world is essential. In part two of our series on terminology, we delve deeper into the lexicon of real estate professionals to empower buyers and sellers with the knowledge they need to make informed decisions every step of the way. Let’s dive in! More Important Real Estate Terms Everyone Should Know In the vast realm of real estate, there’s no shortage of terms and abbreviations to fam ..read more

While many rental property owners manage entire apartment complexes, you may just be interested in buying a single apartment or condo unit to rent out. This can provide some extra monthly income and serve as a stepping stone on your way to larger real estate investments in the future. Getting started can feel overwhelming, but with our advice, you can successfully rent out a single unit at an apartment or condo in Maryland, Virginia, or Washington, DC. For more useful tips and trends related to real estate investing, please contact Coakley Realty online or call us at 301-340-8700 today. In the ..read more

The Basics Section 1031 of the Internal Revenue Code of 1986, as amended, permits a Taxpayer to relinquish (transfer) property held for “productive use in a trade or business” or for “investment” in exchange for a “like-kind” replacement property which is intended to be held for “productive use in a trade or business” or for “investment.” Real estate may be exchanged for like-kind real estate, and personal property may be exchanged for like-kind personal property. Real estate may not be exchanged for personal property. Some definition of terms: Relinquished Property: the property(ies) you wan ..read more

When you own a home, you know there are just some forces of nature that can’t be tamed—severe winter weather can wreak havoc on an unprepared property, which is why it’s so important to winterize your home and get it ready for the cold. So what can you do before Mother Nature comes knocking? The experienced real estate agents at Coakley Realty have some tips on how to winterize your home! Winterize Your House Tip #1: Beware Frozen Pipes It’s simple science that when water freezes, it expands—and when it expands inside your pipes, that can mean big trouble for your home. That’s why it’s so impo ..read more

As a homeowner, you understand the desire for that perfect home. Of course, finding the one that fits our wants, needs, and dreams just right can be a bit of a hassle. There are literally hundreds of thousands of homes to choose from! But have you ever considered the possibility of living in a historic home? If not, you might just be missing out on a unique opportunity! At Coakley Realty, our team is fully dedicated to bringing you the absolute best solutions for meeting your needs. To accomplish such services, we offer superior options and services, tailor-made to ensure you’re getting the mo ..read more

Have you been wondering how much your home is worth? Maybe you’re planning on selling your home, or perhaps you’re hoping to make an offer on a new home. In fact, a property appraisal is typically mandatory if you’re in the process of getting a mortgage loan. Either way, getting a real estate property appraisal is a great way to figure out the value of a home! So how will you know when to get a real estate appraisal? If you would like to get a professional property appraisal for your home in Maryland, Virginia, or Washington, DC, the experts at Coakley Realty can help! Call us today at 301-340 ..read more

If you’re planning on renting your home or investment property, one of the most important things you’ll do is find a reliable tenant. That’s why it’s so important to find qualified, responsible people to rent your property, but how do you know what to look for in a tenant? When you hire Coakley Realty as your property manager in Maryland, Northern Virginia or Washington, DC, we can help you find the best tenants for your home or investment property because we have high standards for qualification. If you’re wondering what to look for in a tenant, here’s a few of the things we always keep in mi ..read more

Your children have all grown up and moved out. You are beginning to wonder why you need the suburban four-to-five bedroom home with the large lot. You have two options: Option One is to “re-feather” that empty nest, renovating to make it possible for you to “age in place.” Option Two is to “downsize” by selling your home and moving to a smaller condominium or townhouse in a closer-in, walkable community. Option One: Aging in Place An excellent source of aging-in-place guidance is the D.C.-based National Aging in Place Council (NAIPC). This organization has published Act III: Your Plan for Agin ..read more