WASHINGTON, DC—With a historically low inventory of homes for sale, and an ever-growing number of prospective buyers, Washington DC-area residential real estate is the midst of one of the most competitive markets ever.
“The competition among home buyers is probably the highest I’ve seen in four decades in the industry,” says Scott Avery, president of Tysons Corner, Virginia-based AveryHess, Realtors. “These days, it’s not uncommon for a good listing to get 5, 10, or more offers.”
According to the Northern Virginia Association of Realtors, low mortgage interest rates, fewer new home developments being built, and the trend of owners opting to stay in their homes longer or pass
WASHINGTON, DC – For anyone planning to sell a home, there’s no one better to turn to than a real estate professional. Every year, Realtors® spend hundreds of hours taking their clients to hundreds of homes. Agents are able to see and hear, first-hand, what clients don’t like, as well as what features, amenities, and extras get buyers’ pulses racing.
“You can take a client through a dozen properties with similar floor plans, features, and prices, and after a while it all runs together,” says Katja Hom of AveryHess Realtors. “But more often than not, it’s that one home where the seller has followed a few smart design tips to make their property stand out.”
Earlier this year I had the opportunity to speak at an event called “Real Estate Industry Forecasts and Innovative Trends for 2018.” I was joined by two distinguished panelists, Ryan Conrad, CEO of the Northern Virginia Association of Realtors® (NVAR); and Roderick Maribojoc, Director of the Center for Real Estate Entrepreneurship, George Mason University.
We took on a number of hot topics that will be shaping the marketplace this year and beyond – ranging from growth projections across the region and new legislation that will ease zoning and allow for smaller housing footprints and … to new technologies such as 3D printing that will change how homes are built and driverless cars
Call it what you wish, after seeing years of my generation dominate the housing market this Boomer is pleased to see the next generation of first time buyers hit the market with a vengeance. And it’s especially true in our very own D.C. metro area market. “Millennials,” (and I will call them that only once as I believe they shudder at this label,) represent our future and the very best of America. This group of young people and everyone seems young to me nowadays, have now surpassed Baby Boomers as the largest U. S. population group. More than 80 million strong they are the first generation of “digital natives,” tethered to their smartphones, connected to news and information via social
I’d like to share my thoughts on the Redfin IPO and then weigh in on potential pros and cons of what I have labeled as the “Agent/Brokerage Consumer Centric” model and the “Marketing Company Centric” model. The central issue to me has always been about consumer choice and the level of service and brokerage knowledge they receive. Do the behemoth Marketing Companies, whose goal is generating consumer capture, marginalize the value great real estate professionals bring? And will they be able to accomplish this in a low cost environment?
Redfin and Goldman Sachs, the underwriter who helped take them public last week, were focused on positioning Redfin as a tech company rather than a
Over the years I have been asked many times, “what makes a successful Realtor®,” and, “what are the traits needed to become an award-winning agent.” Before dialoging on traits or attributes however, I feel it’s important to really focus on what you want in life and truly ask yourself, “Do I have the passion, desire and motivation to pursue this business as a career?” If you don’t like interacting with people, are afraid to “put yourself out there,” struggle to find motivation, can’t take rejection or wallow in failure, you run the risk of having your world filled with negativity. These thoughts will then become your reality and inevitably, as the English writer James Allen
It has truly been an honor to receive the award for Best Visual Design for our website from Leading Real Estate Companies of the World®, which was selected out of 550 real estate companies worldwide. This has been a work in progress for many years as we strive to be the go-to real estate source for the Washington, DC area consumer.
AveryHess, Realtors® has gone through four iterations of our website since it was created in 1997. The ultimate goal has always been to provide consumers with not just a portal to view homes for sale, but to showcase how AveryHess could bring in added value as the local real estate expert.
Early real estate sites tended to be static repositories of information,
Are we starting to see light at the end of the tunnel in the housing market? In a report issued this morning the Commerce Department reported housing construction starts jumped 22% in February to a seasonally adjusted annual rate of 583,000. While far from last February's rate of 1.1 million, this jump is the largest in 19 years and begins to offer hope that we're either in the bottom of the housing market or darn close to it. Another pleasing sign was the 3% rise in the issuance of building permits in February. This is another good indicator of continued growth in construction starts. Residential real estate has repriced itself as an asset class, interest rates remain low
Based upon the plethora of news articles about the general economy and the dire straights of the housing market that inundate the potential home buyer on a daily basis, it's surprising all of us don't head for the hills and hunker down for the long haul.
The reality is that people are making decisions and buying homes every day, and the pace is beginning to pick up. Trying to outguess the market, either at the top or the bottom, is always a difficult task.
Generally speaking, I have always believed if you wait until someone tells you the market is at the bottom, or top for that matter, you will have waited too long. Markets always move faster than the collection and analysis of data
If you are following the news that is beginning to leak out about President Obama's budget proposal you may be aware of a small section of the budget plan that may affect all homeowners, or potential homeowners. As the plan is currently drafted the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This begins to chip away at the most substantial deduction most taxpayers have, and could conceivably lead to further erosion of home values. Expressing your opinion directly to representatives in Congress might be a worthwhile few minutes of your time.
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