Tag Archives: residential real estate

Cheers to Careers! Real Estate Industry Panel Discussion

The award-winning MG Residential Sales Team is currently hiring for passionate real estate professionals licensed in DC, MD, and VA, who seek career growth and can see themselves embracing our mission of Transforming Lives, Careers, and Communities through Real Estate.

Join us on Wednesday, May 15th from 5:30-7:00 PM for a happy hour and panel discussion with four of our Neighborhood Experts and learn how a full-service team culture may benefit you and your business. Registration is requested: http://bit.ly/2ZMt3ey

6 Home Renovations That Return on Resale

Renovations can make us happier in the places we call home, but some of the most dramatic updates can add real value when it’s time to sell.

Since kitchen, deck and other upgrades can represent a significant cost, it’s helpful to know what kind of return you might expect before you decide to write a check.

Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value. Here are the six home remodeling projects that deliver the highest returns.

  1. Garage Door Replacement
    Average cost: $3,611
    Average resale value: $3,520
    Cost recouped: 97.5 percent

A good-looking garage door tops the list when it comes to getting cash back on your investment when you decide to sell your house, according to the 2019 Cost vs. Value report. The estimate is based on the cost of removing and disposing of an existing 16-by-7-foot garage door (2-car garage) and replacing it with a new four-section garage door with heavy-duty galvanized steel tracks, assuming the motorized garage door opener is compatible. This curb-appeal enhancer will get you back almost every dollar you spent on it when you sell your house.

2. Manufactured Stone Veneer
Average cost: $8,907
Average resale value: $8,449
Cost recouped: 94.9 percent

Replacing vinyl siding with stone veneer on part of your home, such as an entryway, is a big curb-appeal upgrade for your home. Existing vinyl siding is replaced with adhered manufactured stone veneer. This average cost estimate is based on installing 36 linear feet (LF) of sills, 40 LF of corners and one address block, with materials including two layers of a water-resistant barrier, corrosion-resistant lath and fasteners and more. This cosmetic improvement and accent design element is likely to catch the eye of a potential buyer and can allow you to recoup nearly 95% of your costs.

3. Minor Kitchen Remodel
Average cost: $22,507
Average resale value: $18,123
Cost recouped: 80.5 percent

Creating a modern-looking and functional kitchen can add more than just value to your home; it can boost your enjoyment of everyday activities like cooking, entertaining friends and sharing meals with your family. However, potential buyers see the intrinsic value of this kind of upgrade. On average, you’ll recoup a little more than 80% of the cost of a minor kitchen remodel. In a remodeling project of this kind, you might replace appliances with new, more energy-efficient models, reface cabinets with new shaker-style wood panels, install new countertops, replace hardware, install a new sink and faucet, add new flooring and repaint.

4. Deck Addition (Wood)
Average cost: $13,333
Average resale value: $10,083
Cost recouped: 75.6 percent

If you’re lucky enough to own a house with a big yard, having a wooden deck can be an extra enhancement to enjoy the outdoors around your home. The average cost of adding a wooden deck from scratch (estimated based on a 16-by-20-foot deck, including a railing system with pressure-treated wood posts, railings and balusters) is approximately $13,333. But the good news is that this feature, which also includes a built-in bench and planter, can hold more than 75% of its value come sale time.

5. Siding Replacement
Average cost: $16,036
Average resale value: $12,119
Cost recouped: 75.6 percent

Old, dilapidated siding can make even the nicest house look worn-out. For the average home, replacing 1,250 square feet of old siding will cost you just over $16,000 and you’ll get back roughly three-quarters of that investment upon resale. This upgrade includes the factory trim at the openings and corners.

6. Entry Door Replacement (Steel)
Average cost: $1,826
Average resale value: $1,368
Cost recouped: 74.9 percent

You will recoup nearly 75% of your cost by replacing your main entry door with a 20-gauge steel door, complete with clear dual-pane half-glass panel, jambs and an aluminum threshold with composite stop. These doors come factory finished with the same color on the front and back sides.

©2019 Bankrate.com
Distributed by Tribune Content Agency, LLC

Bo Menkiti Recognized as a RisMedia Real Estate Newsmaker

RISMedia has announced it has chosen Bo Menkiti as a member of the Class of 2019 Real Estate Newsmakers, which will be revealed in the December 2018 issue of RISMedia’s Real Estate magazine, and featured online at RISMedia.com.

RISMedia’s Real Estate Newsmakers is an exclusive group of industry luminaries who have contributed in newsworthy ways to real estate.  The 2019 Class was chosen by RISMedia editors for headline-making initiatives and successes, including, but not limited to:

  • Advancing the industry
  • Impacting change
  • Technology achievements
  • Diversity and inclusion
  • Business accomplishments and growth
  • Humanitarian efforts
  • Industry activism and support
  • Thought leadership and influence
  • Excellence in customer service
  • Creativity and innovation

“RISMedia’s Real Estate Newsmaker Awards honor the industry’s real newsmakers—the people who are positively affecting our industry and the millions of consumers we serve,” says John Featherston, CEO and president of RISMedia. “Our industry promotes and provides consumers with a pathway to responsible homeownership. Over the past three-plus decades, RISMedia has covered, chronicled and celebrated the professionals making news in real estate, and we are honored to continue to formalize these honors with the 2019 annual RISMedia Real Estate Newsmaker Awards.”

For More Information, visit RisMedia.com.

5 Stunning Kitchens That Prove Going Bold Is Worth the Risk

Source: Jennifer Barger – Washingtonian.com

Below are five stunning kitchen trends that prove going bold is worth the risk.

  1. Dark and Handsome
    Brass hardware, patterned tile floors, and dark navy cabinets
  2. Blue Wave
    One part calm and Two parts creative
  3. Traffic Stopper
    An eye-catching burst of color
  4. The Great Indoors
    Earthy yet sophisticated
  5. Crayola Kitchen
    Black concrete countertops with edgy modern cabinets

Our favorite is the Blue Wave – teal, white and beachy wood combine in a peaceful space. Learn more about the Five Trends on Washingtonian.com.

Check out our Blue Wave kitchens at 700 16th Street NE in Kingman Park at MGLivingDC.com.

The Menkiti Group Named One of the Nation’s Fastest-Growing Inner City Businesses

Washington, DC, October 3, 2018- The Initiative for a Competitive Inner City (ICIC) announced that The Menkiti Group has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2.  The full list is available on Fortune’s website. The Menkiti Group, led by CEO Bo Menkiti was ranked #93 based on its growth rate from 2013 to 2017 of 68.26% and 2017 revenue of $17,515,873.

2018 marked the 5th appearance on the prestigious list for The Menkiti Group, placing the company into the ICIC fastest-growing companies Hall of Fame. Keller Williams Capital Properties was also ranked for a record 5th appearance, this year at #92, which places the company into the Hall of Fame as well.

Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods.  The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.

2018 Inner City 100 by the numbers:

  • Average growth rate of 436 percent between 2013 and 2017
  • Represent 46 cities in 23 states
  • Employed 10,085 individuals in 2017
  • Created 5,516 new jobs in the last five years
  • On average, 36 percent of employees live in same neighborhood as the company.
  • Average company age is 15 years
  • Average 2016 revenue is $14.8 million
  • 31 percent are women-led
  • 38 percent are minority-led
  • Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.

KW Capital Properties on Inc. 5000 List for the 8th Time

Washington, DC-based brokerage included in top 1% of Inc. 5000 Fastest Growing Companies with notable growth.

Today Keller Williams Capital Properties, an affiliate company of The Menkiti Group, was recognized on the 2017 Inc. 5000 list, an exclusive ranking of the nation’s fastest-growing private companies in America. 2017 marks the eighth year that the brokerage has appeared on the list for the remarkably consistent high growth displayed by the company.

Keller Williams Capital Properties (KWCP) is an Inc. 5000 Honoree, with a minimum of five appearances on the Inc. 5000 list, and is in rare company with eight consecutive appearances, placing the brokerage in the top 1% of all companies that have been included in the annual ranking since it was first published 36 years ago.

Since the brokerage was founded in 2006, KWCP has grown to seven offices throughout DC, Maryland, and Virginia, with nearly 1,000 agents. In 2016, KWCP recorded just over $2.1 billion in sales, with 4,414 transactions, marking significant increases in both areas over 2015. These figures all represent the brokerage’s standing as one of the fastest-growing Keller Williams Realty International franchises.

This latest ranking and recognition honor are preceded by recent inclusions in the Washington Business Journal’s Top Residential Real Estate Companies, and the Washingtonian’s list of Top Producing Agents and firms in the greater Washington, DC metro area.

To learn more about Keller Williams Capital Properties or to discuss business and career opportunities in leadership or agent entrepreneur roles, please contact Brandon Green at 202-350-9777.