Washington DC metro area Housing Prices Rose in May 2010 - 07/29/10 01:34 PM
The headline that caught my eye was in the July 28, 2010 issue of USA Today which stated:  “Home Prices Rose 1.3% in May”.  To me that statement is misleading because the 1.3% increase for the Composite-20 Index is actually recovery, not new appreciation in home values.  Not surprising, the national index peaked in the second quarter 2006 at 189.93 and bottomed in the second quarter 2009 at 111.11.  The composite and city indexes were normalized in the first quarter of 2000 to a value of 100, and are based on three month moving averages.  The U.S. National Home Price Index … (0 comments)

Virginia is for Lovers....and Business - 07/19/10 01:03 PM
“Virginia is for Lovers” is a marketing theme trademarked by the Virginia Tourism Corporation quite some time ago, but still retains its appeal as Virginia being a great place to visit.  It turns out that Virginia is also a great place for business to flourish. Recently CNBC announced the results of its annual study on the best states for business, and Virginia came in #2 after Texas.  Virginia actually “swapped” places with Texas as in 2009 it was ranked #1 in America for that distinction.  Being in the top 3 is still certainly noteworthy!
The study utilizes 40 metrics in 10 … (0 comments)

Should I Build a Pool? - 07/13/10 03:40 PM
This is a question I am frequently posed by clients.  In the middle of the dog days of summer it seems like such a grand idea.  After experiencing the hottest month of June on record in the metro DC area, staying cool in a pool sounds very appealing.  People imagine their family and friends sipping beverages poolside, the sounds of children playing water games such as Marco-Polo, and adults relaxing on floats.  What’s not to like? 
It has been my experience that about one-half of the buyers are open to considering a home with a pool and about one-half of the … (2 comments)

Freedom Isn't Free and Home Ownership Isn't Either - 07/08/10 09:52 AM
 
Our son Drew has a wooden sign in his room that states boldly:  FREEDOM.  Drew bought the sign because he finds it hugely ironic that he could purchase something that says “freedom” but that it wasn’t “free,” it had a cost in order to acquire it.  This week as we celebrate the 4th of July, let us remember the benefits associated with living in a democracy, that it wasn’t and doesn’t continue to be without cost.  There are many who have given their lives and sacrificed deeply so that we could become a democracy, many who fight for us daily … (0 comments)

First Half 2010 Perspective on a Tale of Two Markets - 07/06/10 02:37 PM
 
The theme of “A Tale of Two Markets” is based on Charles Dickens famous A Tale of Two Cities.  This is the third in the series, now we are looking at how the residential real estate market for McLean and Great Falls performed in the first half of 2010 in comparison to the first half of 2009.  Most people recall the opening line to A Tale of Two Cities:  It was the best of times; it was the worst of times.  The theme line of “A Tale of Two Markets” has a bit of variation in this edition:  It is … (0 comments)

Northern Virginia's "Golden Zip Codes" - 07/01/10 04:42 PM
The Washingtonian magazine published a series in May of 2010 with a chart entitled:  “Golden Zip Codes”.  The chart chronicles the 100 most expensive zip codes in the Washington DC metro area according to the 2009 median sales price.   Further, the chart compares the 2009 median sales price to that of 2008 and 2006, the peak year for most of the market area. 
Great Falls, Virginia appears at the top of the list of Golden Zip Codes and McLean, 22101 is in second place.  After that are 5 zip codes in Chevy Chase, Potomac and Bethesda, followed by Georgetown and Tenleytown/Pallisades, … (0 comments)

 

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