Tag Archive for: DC Real Estate

Washington, DC. Market Report – 7/13/13

13 Jul
July 13, 2013 HHH (hot, humid, hazy) is how Washington is described during the summer, but don’t let the weather keep you from enjoying all that Washington has to offer. There are museums and art galleries along the Mall that are free.  The Newseum is absolutely fabulous and one can spend days there checking out all the exhibits. Take a refreshing walk in Rock Creek Park where even on the hottest days you can relax in the shade of the large old trees and picnic with family and friends.  A cool sail along the Potomac aboard the Odyssey is a wonderful way to spend an evening with dinner and dancing. Any weather is fine for a show at one of the many theaters in Washington, where both Broadway shows and Read more [...]

Avery-Hess, Realtors Unveils New Website

24 Aug
August 24, 2009 Avery-Hess, Realtors, an independent real estate brokerage based the Washington, DC Metro area has launched a next-generation real estate website featuring an enhanced version of their trademarked MyLife Home SearchTM platform offering users the ability to search for homes based on lifestyle, proximity to community amenities, and commute time. The new site is located at www.averyhess.com “Plenty of real estate sites offer home search, each containing essentially the same inventory, tools and content – we decided to go well beyond all of them,” explained Scott Avery, founding partner of Avery-Hess, Realtors. “That’s why we re-engineered our MyLife Home SearchTM to include alternative Read more [...]

Selling Your Home – What to Consider

11 Aug
August 11, 2009 It is important to remember that there is no "one-size-fits-all" approach to selling your home. There are many factors to consider when selecting an agent to list your home, and outlined below is a quick 4-step summary of important things to consider. MARKET CONDITIONS: Everyone would LOVE to sell their property and realize a 250% return on their investment. But the reality is that if you really do need to sell your home, you have to price it correctly in order for it to sell. The main consideration for an effective pricing strategy is the current market conditions. Your agent should be able to provide you with in-depth analysis on the current local market conditions. You may also want to Read more [...]

Take a Ride on the Northern Virginia Real Estate Market

15 May
May 15, 2009 Hop on folks and take a ride. Over the past nine months, the average contract price of all sold single family houses and condos priced under one million dollars in Northern Virginia (Fairfax, Loudoun and Prince William Counties) has made a complete round trip. So for all those brave souls who dipped their toes into the water and bought a house recently, you may have already started to build some equity courtesy of Mr. Market. In August 2008 the average of all Solds was $319,656. Eight months later, after falling to a low of $270,341 in December 2008, the average is back up to $319,074 and rising fast. Why? Supply and Demand. On May 1, 2009 there were 5,532 properties for sale in the three counties Read more [...]

Waiting for Rock Bottom – When to Buy A Home

23 Apr
April 23, 2009 Everybody looks at their purchase of real estate as an investment. There are shows dedicated to telling you how great the tax advantages are of owning property and writing off mortgages as opposed to paying rent. Naturally, when an investments value falls, so does interest in that asset. I assert that waiting to see the bottom means you lose out on the best part- owning a home! Buyers need to appreciate many of the non-monetary values of owning as oppsed to renting: planting your own garden, painting the house colors YOU like, learning how to fix clogged toilets and pipes yourself to save money and learn a new skill, or even add your own personal improvements around the home. It requires moving Read more [...]

April 2009 Bank Owned Buyers Guide Now Available!

15 Apr
April 15, 2009 The Avery-Hess April 2009 Bank-Owned Buyers Guide is now available. This guide features a selection of Bank-Owned properties, tips for purchasing them and information about financing as it pertains to these homes. You can obtain your copy of this guide through an Avery-Hess Sales Associate or by contacting CustomerCare@averyhess.com. Don't forget to search for all the Active Homes on-line at: www.averyhess.com Read more [...]

Interest-ing Information about Interest Rates

23 Mar
March 23, 2009 We have seen mortgage rates that were already at near historic lows edge down even further in recent weeks. Depending on personal situations, prospective home buyers are looking at interest rates for 30-year fixed mortgages in the 4% - 5.5% range. Our mortgage partner, Choice Mortgage (an affiliate of Wells Fargo Home Mortgage), has today's rate displayed online at 4.625% with 1 point. WOW. WOW. WOW. Even if rates go up a anywhere from half a point to a point and a half, these are still unbelievable deals! But really, what does a drop or increase in interest rates mean? How does this affect you? How does this affect your payment on your mortgage should you choose to buy a home this year? Depicted Read more [...]

There is a Tunnel and it has Light!

17 Mar
March 17, 2009 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 Read more [...]

The new REO Speed Wagon:Why are foreclosures growing in popularity?

09 Mar
March 9, 2009 My first involvement in a real estate transaction was on a foreclosure property in Silver Spring. The property was in total decay, and needed everything improved and replaced- except for the bathrooms. What made it so attractive was the price. That was one of the few that would have been available over a decade ago. Now, everywhere you look there are foreclosure properties and everyone wants to see them- warts and all! Let's explore some of the benefits and problems involved in REO transactions: Price: The oldest trick in the real estate brokering game. Drop the price low enough, and people start to pay attention. This was the original motivator for looking at foreclosure property- getting a Read more [...]

Lions and Lambs

07 Mar
March 7, 2009 You've heard the expression "March comes in like a lion and out like a lamb". Well, March certainly came in like a lion blanketing the northeast with a major snowstorm. So, if the expression holds true it will go out like a lamb bringing us warm springtime weather. In the real estate world there's another expression that the spring market really begins in late January or early February. But it's not too late if you are thinking of putting your house on the market. Housing inventory is finally beginning to decrease for the first time in several years. When the glut of foreclosures and short sales inundated the market, private sellers could seldom compete with the low prices being accepted by Read more [...]