Real Estate Blog

*** CONTEST HAS ENDED!  CONGRATS TO OUR WINNER, STEVE K. of BROOKLAND***

Activist Angela Davis, revolutionary and activist Bill Ayers and “The Color Purple” author Alice Walker will help Busboys and Poets celebrate its 10th anniversary at a party in October.

The event will take place on Oct. 2 at the Brookland location (625 Monroe St .NE).  The VIP ticket, gives party goer’s entry to a pre-party reception with Walker, Davis and Jeff Zinn, the son of historian and activist Howard Zinn. The VIP reception is scheduled to begin at 6:30 p.m., with the main party following at 8.

The festivities will include champagne, hors d’oeuvres and music by local DJs Ayes Cold and Nativesun.  A spokesperson for Busboys and Poets said that more special guests

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For more details on the below listings, click here.  

 

14TH STREET CORRIDOR

1412 CHAPIN ST NW #1  2 /Bed   2/Bath  Condo  In the listing agent's words: Chapin Row offers 30 exceptional condo homes in the heart of the booming 14th and U St district! These stunning residences feature marble counters, wide plank hardwood floors, high ceilings and in unit washer/dryer all within a smart, open floor plan and many w/ private outdoor space. Unbeatable location w/ 94 walk score with easy access to 2 metros. Parking & storage available.

List Price   $499,900.00     Fee $160.85

 



16TH STREET HEIGHTS

1346 LONGFELLOW ST NW  4 /Bed   1/Bath  House  In the listing agent's words: *****INVESTOR ALERT***** A 4  Bedroom 1.5 Bath Home in

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The bad weather in February coupled with low inventory had a negative impact on the close-in Metro area marketplace, which showed a 3.3% decline in dollar volume of sales from last February, and a 17% increase in “days on the market”. While the District had a hearty 5% increase in average price and Northern Virginia had a 3.8% increase, Montgomery County showed a minus 5.4%  in average price. 

 Although there are plenty of buyers in the marketplace, the low inventory has created a tough market for buyers who don’t have enough extra money, experience or confidence to drop contingencies and be able to compete with all-cash, contingency-free competitors. As we move into spring, inventory will get better, but so will the number of buyers.  In addition, the

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THE PRICE IS WRONG...

Written by Jaymi Naciri on Wednesday, 11 March 2015 1:05 pm

Selling a house today is like being on a reality show. And that show is called "Everyone's An Expert." Especially when it comes to the sales price. If you're a REALTOR, don't bother showing neighborhood comparables. The seller clearly knows what the price should be - based on what they owe, what they need to move up to their dream house, or what they simply think it's worth. Never mind that their "must get" price is way out of the line for their house, their neighborhood, and the real estate market as a whole.

Perhaps there is a new idea for a realty show there, with a well-known name and a few special guest stars.

Ladies and Gentlemen, welcome to "The Price is

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In 2014, sales in Northern Virginia and Montgomery County trailed behind 2013 sales with a 5% decrease in dollar volume of sales, and a less than 1% increase in average price compared to a 7% increase in average price in 2013. The District of Columbia, which had a 5% gain in sales volume and a 5.5% gain in average price was the only jurisdiction to show significant gains, which kept the performance numbers  for the close-in Metro area from dipping below the 2013 levels. 

January numbers this year were much better than January 2014, with the close-in Metro area experiencing a 9% gain in dollar volume of sales and a 4% gain in average price. So, despite the cool 2014 market in Northern Virginia and Montgomery County, the overall January 2014 numbers bode

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The biggest news for October was the discrepancy between the sales performance of the District versus Montgomery County and the close-in Northern Virginia suburbs. While Montgomery County had a 1.7 % decrease in sales compared to last October and Northern Virginia experienced a 6.3% decrease, DC showed a whopping 25.5% increase! In addition, the median price was flat for both Montgomery County and Northern Virginia, and the District had a 5.1% increase over last October.

These are significant differences in performance, and it indicates what the real estate agents already know - that the market in the close-in areas is much stronger than in the outlying areas, and DC is once more the star of the show. The District is now considered a top city for

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The market in the close-in Metro area was slightly negative from last year at this time, with-1% in dollar volume of sales and -1% in average price. This means that buyers may actually be able to purchase at the price they were planning and it means that sellers have to be very careful not to overprice their properties.

The hottest areas are the neighborhoods where young people are buying, while the move-up areas in the suburbs have slowed down. Downtown DC and parts of Arlington are going strong, and it seems that all the hype about Washington becoming a “mecca for millennials” is really true. Washington, D.C. is now leading  Seattle, Portland and Houston in many polls, due to the increase in social attractions for millennials, such as restaurants,

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In August 2014, the Northern Virginia suburbs fared the best price-wise with a 5.2% increase in price, with the rest of the numbers for August level with last year or slightly below. Since we have been seeing flat numbers for a few months running, it is useful to take a look at the whole year-to-date and see what has transpired. 

In the close-in Metro area, Washington, D.C. is the star so far this year, with a 6.3% rise in average price over the first eight months of last year. In addition, while Montgomery County, Fairfax County, Arlington and Alexandria had only 90-95% dollar volume of sales in 2014 compared to 2013, the District of Columbia did 10% better in 2014 over 2013! This may well be due to the city’s growing popularity as a place to live,

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The statistics for June look a lot like May 2014, with numbers down in close-in Northern Virginia and in Montgomery County, but with the District of Columbia once again gaining in both dollar volume of sales and price.  The dollar volume of sales was up 13% over last June, and the average price was up 6% in DC.  One of the reasons is that the District offers “walkability”, and since gridlock has become a major issue for our Metro area, getting around easily and being able to walk to Metro, stores, work and entertainment is very desirable for people buying homes in our area.  In addition, the Metro area is a good job market, and the young people filling these jobs are particularly interested in an urban lifestyle.

Because of the resilience, success and

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