Washington, DC : Market Update 11/24/08 - 11/24/08 08:37 AM
Current Number of Homes Active and Under Contract in the Washington DC area:

Here is the breakdown as of November 24th, 2008
The number of homes for sale in the DC Real Estate Market; remains much like it did last year at this time. 
Montgomery County and Arlington County; continue to have inventory levels almost exactly the same as last year.  
The normal market cycle, sees a peak in the number of homes for sale at the very end of May and the very end of October.  This year is no different as numbers are slightly down from their … (1 comments)

Check your Credit - Every Year !!! - 11/23/08 10:32 AM
Many people ask me how hard it is to get a Mortgage these days.  I simply say: As long as you have good credit; and a small down-payment (3-3.5%); you should no problem obtaining a mortgage.
So what DOES Your Credit Report look like?  Have you checked it lately?  Why not ?!?!  It's FREE !!!
EVEN IF YOU ARE NOT PLANNING ON BUYING A HOME.... You still need to check your credit at least once per year.  Mistakes can happen.  Identity Theft can also happen.
I highly recommend AnnualCreditReport.com   This is the ONLY site sponsored by ALL 3 Credit Reporting Agencies; TransUnion, Equifax, and Experian. … (3 comments)

Holy Gas Prices !!! - 11/21/08 05:01 PM
WOW - was I excited today when I filled at my local gas station in NW Washington DC!  For much of year I never had a full tank of gas.  It seems that my local gas station has a $50 cut-off on credit cards at the pump.  Thus my $50 would give about 3/4 a tank.
Today however, $41 of SUPER filled my tank to the top!  Thank Goodness.
Now this isn't just a post about my gasoline costs.  The real question is how will LOWER gas prices affect the Real Estate market?  When gas prices shot into the $4 range … (7 comments)

Mayor Fenty - Likes More Tourists in DC for Inauguration! - 11/20/08 09:19 PM
As a follow-up to my post about those DC residents; "Renting out" their homes... In DC anyone renting their home is considered a "business" and thus must obtain a Small Business License issued by the DC Government. (Along with registering with the Rent Control Department).
Well today Mayor Adrian Fenty, issued an executive order that anyone wanting to rent out their home from January 13th until January 27th; does not need the required permits. See the FULL STORY.
The Mayor says It's Important to help people find ways to see the swearing in of Obama.  I am sure all the folks in town spending their money on the subway, … (1 comments)

Renting out your DC condo for Inauguration? Be careful... - 11/19/08 09:07 PM
As I mentioned in a previous post; many - many folks are renting out; subleasing if you will; their condos, apartments and homes in the DC area.  So many people are coming to Washington DC for the Presidential Inauguration that every hotel room is full for 50 miles (or more).
If you look on Craig's List; you will see many DC residents renting out their homes for very high prices.  But do they really know what they are doing?
Many apartments have rules about subleases; they don't usually favor them.  Renting out your rented apartment is a form of subleasing.
Also; many of the Condo … (3 comments)

HPAP Funding ALL GONE !!! ??? - 11/19/08 02:46 PM
In Washington DC we have (or had) a wonderful program for 1st Time Home Buyers who have low-moderate income.  We have been told the money is gone and there may be none in 2009!
Many buyers have purchase contracts (including one of my clients who was in final negotiations); and many of these buyers will not be able to close unless their contract was in place by last Friday, November 14th.
It seems lenders and Realtors are just learning of the the HPAP funding issue today.  Not a positive thing for families and individuals looking forward to a move at the … (1 comments)

Real Estate in DC - IS Alive NOT Dead ! - 11/18/08 10:30 AM
We all watch the news; and it always says how bad things are in the Real Estate business.  The market is so bad.  You cannot get a mortgage. Interest rates are high. Real Estate agents are leaving the business in droves.  These are things we often hear; but is there any truth in any of this?  Even my new personal trainer gave me a look last week when I told him I was a Real Estate agent! (I think he was worried I couldn't pay him!).
Here are the facts as I see them: 
As I have always said: Real Estate … (1 comments)

Inauguration Madness.... But its only November.... - 11/12/08 10:18 PM
Living in DC we have many exciting times.  Although often these "exciting times" are short-lived.  The first one or two times you are stuck in traffic during a Presidential Motorcade its "neat".  After that its just plain annoying!
I was #1 in a huge line of traffic when the police closed Connecticut Ave; as Queen Elizabeth drove past.  Yeah I saw her head and crown for exactly 2.5 seconds. But was in traffic for an extra 20 minutes.  Eh... exciting huh?
So now we in the District of Columbia are facing yet another Inauguration Day.  Oh crap.  I used to work downtown and I remember such a … (3 comments)

How to find Foreclosure listings for free??? - 11/12/08 09:40 AM
Finding Foreclosure listings on the Internet is not an easy task.  Even as a Realtor, it is often difficult to sort the Foreclosures from the short sales from the regular sales.
I was so excited this morning when I noticed that a company called RealtyTrac, (a Pay-for service) was advertising their very extensive list of foreclosure properties on Trulia.com.  When I looked at these listings I noticed that the listings of course does not list the 'Full Address'.  Of course RealtyTrac wants you to pay for their service before they will disclose the details of the property.  All the Trulia listing gives is … (2 comments)

How to Write a Successful Blog Post... - 11/12/08 09:11 AM
Yesterday I was asked to host a training at my office on how to wrote a successful blog post.  Well I wasn't sure what to say.  I have been blogging for a few years and I guess writing comes somewhat naturally.... at least now.  I still have writers block and sometimes struggle as to what my readers may want to read about or what they may find interesting.
One of the first things to think about when writing a blog post is that - Not everyone will care about every post you write.  I know my first few posts were not … (3 comments)

Washington, DC : Market Update 11/10/08 - 11/11/08 10:50 AM
Current Number of Homes Active and Under Contract in the Washington DC area:
Here is the breakdown as of November 10th, 2008
Even with worries on the Financial Markets; the number of homes for sale in the DC Real Estate Market; looks much like it did last year at this time. 
Montgomery County and Arlington County; continue to have inventory levels almost exactly the same as last year.  Although those Under Contract are down slightly; fewer homes are coming onto the market which is helping to keep a balance.
Washington DC, continues to see a small spike in the number of … (1 comments)

Now that the election is over; the DC Real Estate Market will pick up - Right??? - 11/09/08 01:36 PM
I have only been asked this question about 15 times in the past few days.  Of course if I could predict things - I would be Vegas right now!
Yes it is true that the election is finally over.  No matter whom you voted for - you must admit - not having Political Ads on TV and Radio 24/7 is a wonderful thing. Now that being said; will a new administration at 1600 Pennsylvania have an effect on the local Real Estate Market?
My unofficial answer is: Maybe.
Yes we will have many folks who worked for the losing side leave the District and we … (6 comments)