THE WEEK IN REVIEW

Welcome to my weekly newsletter featuring a personal note on the ever-evolving world of real estate along with a few news-worthy updates. Enjoy!

renovation mistakes

Are there mistakes in renovating? That depends on the objective. Are you renovating for your own enjoyment or to maximize market value? The biggest mistake is to confuse the two. It's important to remember that your tastes and objectives may be one thing, and how the market values those renovations another.

Here are some thoughts on successful renovating (credit: Financial Times), including projects you may consider doing yourself!

1. Stick to your strengths. Ask yourself what you’re good at and what you enjoy. Plastering is meditative, tiling requires precision, landscaping gets you outdoors.

2. Painting is a great place to start. And delivers the most impact, cheapest, by far.

3. Leave the most dangerous stuff to the professionals, and treat them like family.

4. Be mindful of over-capitalisation, even if you’re not worried about making a profit. Just because you want a $30,000 oven doesn't mean a Buyer prospect will value it the same way. Mid-range finishes planned well can deliver huge impact.

5. Keep a record of everything you spend!

6. Keep a close eye on the local property market, even if you have no intention of selling in the short-term. Stay connected to an informed agent who knows.

7. A good floorplan is critical: Agonising over the layout before you even lift a hammer will set you on the right path.

8. Look for humor in everything you do. Don’t let the stress of dust, bills, delays and your substandard workmanship eat away at you.

9.  Create a place where you’ll be happy living. In case you cannot/don't want to flip/sell.

10. Accept failure quickly because not every project will go as planned. 

real estate & the news

• Some 4.18 million Americans in 2025 are projected to reach age 65, more than any previous year. (CNBC)

• The dollar has devalued around 10% so far this year next to the Euro. As the dollar weakens might foreign investors seek more buying opportunities in the US? (CNBC)

• Swiss banks are seeing a surge of interest and business from high-net-worth Americans opening investment accounts recently. Switzerland’s neutral politics, stable economy, strong currency and reliable legal system are all a draw for clients. While opening a Swiss bank account decades ago may have carried a trace of elicit tax evasion, today it’s highly regulated and more widespread, complete with tax forms and reporting. (CNBC)

• BT or AT?  Before Tariffs or After tariffs........that will be the big question answered later this year....The advanced estimate of retail sales showed an increase of 1.4% on the month, better than the 1.2% Dow Jones estimate and higher than the 0.2% increase in February. Excluding autos, the numbers also were stronger than expected, with sales up 0.5% compared with the 0.3% forecast.....BT. (CNBC)

around dc

BASQUAIT X BANKSY

HIRSHORN MUSEUM AND SCULPTURE GARDEN

Basquiat × Banksy is an exhibition of two major paintings, one by Jean-Michel Basquiat (b. Brooklyn, New York, 1960–1988), the other by Banksy (anonymous; b. near Bristol, England). Placed in dialogue, Basquiat’s Boy and Dog in a Johnnypump (1982) and Banksy’s response, Banksquiat. Boy and Dog in Stop and Search (2018) reveal throughlines between street art, contemporary art, and the popular imagination. Tickets available here.

Lee Arrowood

Principal, Arrowood Advisory at Compass

M: 202.251.3175

O: 202.448.9002

lee.arrowood@compass.com

+$173M Sold In 2023

#3 Team Lead 2022