AveryHess, Realtors® Blog

MyLife in Metro DC: Breaking Bread Without Going Broke

Ah, Restaurant Week. It’s one of my favorite times of the year. I’d rank it right up there with Christmas and the start of Virginia Tech’s football season (which we all know is the MOST important time of year). I’ll be the first to admit that I have a serious, but sometimes unhealthy for my waistline, love of food. I can only hope that one day this love will earn me the title of being a “foodie.”

Centreville, VA Market Report 8/20/10

For close to a year, I have been saying that prices in Centreville were continuing to move up after prices bottomed out in December 2008. The increase in confidence paired with amazingly low interest rates fueled a growing trade up market where existing homeowners with equity started selling their house to buy a bigger one. This has helped pull up the average sales price.Even with only a four and a half month supply of houses, I expect the second half of this year to have fewer transactions than the first half because the First Time Homebuyer Tax Credit distorted the market.

Germantown, MD Market Report – 8/18/10

While prices are stable and time on the market is still reasonable, we are without a doubt still feeling the after effects of the tax credit deadline. In order for buyers to get the tax credit before it expired, some third quarter sales were “pulled” into the second quarter. The “Trade Up” market, where existing homeowners have equity and want to buy a more expensive house, has started and it will also pull prices up as higher priced sales occur.

The Revolution will be Mobilized

I normally don’t get overly excited when I see a new piece of Real Estate technology. In fact, I usually ignore most of the new “cutting edge” technology that comes across my desk; generally what I see is neither “cutting” nor “edgy.” But last week, I sat up and took notice. I learned about a piece of technology that has tremendous viability in the Real Estate space. Vyoo.