tag:blogger.com,1999:blog-68420504452776892232024-03-05T04:33:16.988-08:00DC Metro Real EstateRealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-6842050445277689223.post-54075083802837202172008-05-14T08:12:00.000-07:002008-05-14T08:15:41.110-07:00Community Garage SaleCome join the happy neighbors of Parkside at Fairfax Center as they present their annual community yard sale! The community is across from the Fairfax Wegman's at the intersection of Monument Drive and Government Center Parkway (the Wegman's side of the Parkway!).<br /><br />There will be plenty of treasures to behold and BUY! Email me for more information or we'll see you Saturday!<br /><br />DATE: Saturday, May 17<br />TIME: 7 AM - 2 PM<br /><br />(for an address to enter in your GPS or Google Maps, etc... use 11645 Park Green Drive, Fairfax, VA 22030)RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-46131698657063180782008-05-13T18:06:00.001-07:002008-05-13T18:08:35.983-07:00I was wondering around this afternoon to take some new pictures for my website and am just amazed at all DC has to offer...most excitingly, I never experienced Meridian Hill Park in springtime, ...what a beautiful, tranquil and unique part of the city... I really need to stop and "smell the roses" more often!<br /><br /><img id="BLOGGER_PHOTO_ID_5200033877375088882" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_l9L7LFmH-1pvT3syRswCuuJcazAtAF_4qroFwdVV9E0e3V-ipOSR6T1gjDzRA9KqdEdObF081Dh29RQTQbJtexLM9tKujDQD9xs7nCGG_Hw2s-Sd1zCwl5bRT3f6R9dey2I5GSf88G4/s200/Meridian+Hill3.jpg" border="0" /> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhs30Zq06dNvzi8Pywvh5DaVBJ7Jcw9GjG1w_Otl7Z4CpgvZ5ejGYkigODPgvgQ6OK7Ce-C37cTco670BYAs_o6luMjiX3wnwtFcLmrN0t1Xbr60OVFiiRPIV45sFQkH5N2Ts2D9IryNLc/s1600-h/Meridian+Hill2.jpg"><img id="BLOGGER_PHOTO_ID_5200033800065677538" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhs30Zq06dNvzi8Pywvh5DaVBJ7Jcw9GjG1w_Otl7Z4CpgvZ5ejGYkigODPgvgQ6OK7Ce-C37cTco670BYAs_o6luMjiX3wnwtFcLmrN0t1Xbr60OVFiiRPIV45sFQkH5N2Ts2D9IryNLc/s200/Meridian+Hill2.jpg" border="0" /></a> <div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4OqQs11JvuGcpsx-h5C-T57d4biKtueEzb-PPy_GPqgc6C9RhfyUR0-ZeJ3SaxKyL56ZkuEL3j_aC7zPLKmf7sc2fr07Ww-F4AzSln-y_CKnfMCaSVP2fFiRClt2D2KpfpPpWmNUsSGc/s1600-h/Meridian+Hill1.jpg"><img id="BLOGGER_PHOTO_ID_5200033735641168082" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4OqQs11JvuGcpsx-h5C-T57d4biKtueEzb-PPy_GPqgc6C9RhfyUR0-ZeJ3SaxKyL56ZkuEL3j_aC7zPLKmf7sc2fr07Ww-F4AzSln-y_CKnfMCaSVP2fFiRClt2D2KpfpPpWmNUsSGc/s200/Meridian+Hill1.jpg" border="0" /></a><br /><br /><div> </div></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-75877852885900359832008-05-12T11:25:00.000-07:002008-05-12T11:35:25.033-07:00Dupont Rental<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9Q9P1b0ECV2Uz-MwpiYcxU-ckapdeLVESKxFYPvlUN9XAQWP9Qfw3_9YxOBVlauPZEhNSKjIjrxIhN-wvJQJ6HADVB_ywiFiGMosvAA_5GIFnz8Rd_zj3DMLFGN-um9pxEjU_eunitU4/s1600-h/FRONT.JPG"><img id="BLOGGER_PHOTO_ID_5199560610633775298" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9Q9P1b0ECV2Uz-MwpiYcxU-ckapdeLVESKxFYPvlUN9XAQWP9Qfw3_9YxOBVlauPZEhNSKjIjrxIhN-wvJQJ6HADVB_ywiFiGMosvAA_5GIFnz8Rd_zj3DMLFGN-um9pxEjU_eunitU4/s200/FRONT.JPG" border="0" /></a><br /><div>Great Rental in Dupont! 2 bedroom / 1.5 bathroom, top floor in historic house</div><div> </div><div>NEW PRICE at $3000/month</div><div> </div><div>Contact me for more information (<a href="mailto:denny@dennyhorner.com">denny@dennyhorner.com</a>).</div><br /><div></div><br /><div></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-50866745974680323512008-05-11T17:18:00.000-07:002008-05-11T17:30:35.355-07:00Days on Market - A Buyer's Friend?I tell my sellers...we need to price it right from the get-go because time is our enemy. Nothing is absolute, but most of the time that is the case...the longer a property has been on the market ("Days On Market" or "DOM") the more buyers believe they have the upper hand in negotiations. If a property is presented properly and still hasn't sold, then the only issue left is price. This is where the buyers' advantage comes to light. <br /><br />In the DC market, we're about in the middle of the buyer/seller market breaking point (6 months inventory of homes). In most cases, the buyer is still perceived to have the advantage (and they more often do), however sellers are not giving away the farm...nor should they. Prices in DC haven't dropped liked the rest of the nation...we are still seeing houses go under contract in under a week, we're still seeing multiple offers and on the other end, we're still seeing properties, nice and well priced properties (<a href="http://www.2363champlain.com/">2363 Champlain St. #B</a>), that have not yet sold.<br /><br />My point is this...you have to be aware of the difference between what is hot and what is so-so in this market. If you've been looking for a while and see something that gives you the "wow" factor...put in an offer and don't wait around. A high or low DOM, a property can go (even with multiple offers) in the blink of an eye!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-50030749249444743892008-05-09T21:00:00.000-07:002008-05-11T18:39:02.364-07:00Foreclosure and Short Sale MythsI get this one all the time, "I want to buy a house in foreclosure so I can get it for a steal!" Well, reality steps in and I have to explain how the process works...so...I figured I would dispel some of the myths that are out there about foreclosures and short sales...<br /><br /><br />Myth: Banks are anxious to sell their inventories, so they'll take a low ball offer.<br /><br />Truth: I have to keep this in context...not all situations are the same, however, in most of the short sales and foreclosures I have encountered the banks are not overly anxious to move their property and will reject offers that do not meet their objectives (low ballers). In some cases, if a property is in foreclosure and the price is dropped $100k, we see multiple offers come in and bring the price back up closer to where the bank wants it...or to where a 'reasonable" offer would have come in at.<br /><br /><br />Myth: Banks are anxious to make a sale and will move quickly.<br /><br />Truth: Really? I want to work with your bank!!! They DO want to sell the property, but they have protocol and regulations and new legislation to consider and the process can take up to six weeks just to get a yes, no or even a counter offer! In some situations, if the bank is able to prepare before an offer is presented, the process is much quicker, but the averages fall into the 2-4 week range to get a yes or no.<br /><br /><br /><br />Myth: Foreclosures are cheap and a good deal if you can get it.<br /><br />Truth: Most foreclosures and short sales come in at or <em>just</em> under market value. You cannot expect to get a $500k property for $100k...it just ain't gonna happen. There are some exceptions, of course, where whole neighborhoods seem to be in foreclosure (mostly in the further out suburbs) and prices drop dramatically for all sellers in that neighborhood, but most of the properties need LOTS of TLC...which can be great for investors, developers and builders...but they can be large undertakings for the average buyer.<br /><br />Myth: Short sales are a pre-foreclosure step and I should wait for it to go into foreclosure to get a better deal.<br /><br />Truth: Short sales are not all "pre-foreclosure" situations...some are just cases where the owners owe more than the current value (and have to also factor in the costs to sell) and need to sell the house for different reasons than avoiding foreclosure, but don't have the funds to pay the difference (either their payments are draining their monthly income, they are divorcing, they have to relocate, etc.).<br /><br />Okay, that's all for now...I'm getting a sleepy from a long weekend!<br /><br />Cheers - DRealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-89591730971167786532008-05-09T20:16:00.000-07:002008-05-09T20:20:20.457-07:00The Evers & Co. Real Estate Report for April 2008<div>April sales in the close-in Washington Metro area showed continuing improvement in the market. First of all, there is less than a 6 months' supply in inventory, with a market that went all the way from a 9 months' supply in December to 5.7 months' supply in April! The average price has been fairly flat during the past few years, with modest gains each year of around 1 to 2%, so April's gain of .57% over April 2007, is no surprise. However, the aspect of the market that has been in the sharpest decline, the volume of sales, has shown a dramatic improvement in April. Volume of sales declined 20% in 2006 and another 10% in 2007. This year started out even worse, with dollar volume of sales in January 42.7% lower than January 2007; February was 35% lower than the previous year; March was nearly 40% lower; but in April, volume of sales was just 18.45% lower than April 2007. </div><div><br /><br /></div><img id="BLOGGER_PHOTO_ID_5198583570117340738" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4fhEUzT3OZuz7m3MvQAyk_KHc4PUfHTx14W726rAmkAf-XZSvKcpSyMh9Tofsba1fegaw4esDxcay56hLCJEf8ZkItUvTkFgzdmPQqUZLD-3YNED5mvhYaabLuojcE9nL-NnUmlGOXI8/s200/CIMG1714.JPG" border="0" /><br /><br />If these trends continue, we could be looking at the bottom of the close-in market as having occurred in the first quarter of 2008. The second quarter of the year is traditionally the "prime time" spring market, and the strength of May and June sales will be a strong indication of whether or not we are looking back at the end of the recent real estate slow- down.<br /><br /><span style="font-size:78%;">* Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, DC; Montgomery County, Maryland; and Fairfax County, Arlington, Alexandria and Falls Church in Virginia.</span>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-88503586139469363412008-04-25T17:21:00.001-07:002008-04-25T17:28:30.046-07:00Harris Teeter Opens in DC!!!<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyRllUk26fb4kYp6wZln32bLF2GwzDSWoNxbq5g2g5P73fVV0121vEJQ9WBsEa4ai_W5GzvWtPPg4Q6zVRIvGId3YlJS5uPVlTmTuxO24-5NT1_pBuctIOZPgF-IX4ywF1RIqaVSkLyGo/s1600-h/CIMG1777.JPG"><img id="BLOGGER_PHOTO_ID_5193344206402192786" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyRllUk26fb4kYp6wZln32bLF2GwzDSWoNxbq5g2g5P73fVV0121vEJQ9WBsEa4ai_W5GzvWtPPg4Q6zVRIvGId3YlJS5uPVlTmTuxO24-5NT1_pBuctIOZPgF-IX4ywF1RIqaVSkLyGo/s200/CIMG1777.JPG" border="0" /></a><br /><div>The new Harris Teeter grocery store on the corner of 17th and Kalorama Streets FINALLY opened it doors this week to much relief of neighbors. This is the chains first store in DC.</div><br /><div></div><br /><div>Check out my listing at <a href="http://www.2363champlain.com/">http://www.2363champlain.com/</a> that is right around the corner from the new store (okay, two and a half blocks, but come on, that rocks!). There is a lot of nice opportunities to buy in the neighborhood where you are seriously in the middle of it all...the night-life, the culture, and the convenience! </div><br /><div></div><br /><div></div><br /><div></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-89212915342413744682008-04-16T17:25:00.000-07:002008-04-25T17:29:34.508-07:00Adventures in Real Estate Pt3This one is short and sweet...<br /><br />Never go on a walking house tour with clients in cowboy boots...you'll regret it :)<br /><br />Cheers!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-10863811788325364752008-04-16T17:24:00.000-07:002008-04-16T17:25:10.393-07:00The Evers & Co Real Estate Report for March 2008The average month's supply of housing inventory in the close-in Metro area continued to decline in March, from a 7.6 month's supply in January, to a 6.9 month's supply in February, to a 6.6 month's supply in March. This indicates that inventory is not piling up; in fact, fall-out from the mortgage crisis in the form of forclosures is rare in most of these neighborhoods. However, the volume of sales is significantly lower from the previous year at this time, with sales volume this March 40% below what it was in March of 2007. Since our Metro area is about as prosperous as it was last year and interest rates are the same, this would seem to be more a sign of weak consumer confidence than actual economic decline.<br /><br />Homes in Northwest Washington, close-in Montgomery County, Arlington and Alexandria continue to sell quickly if they show well and are fairly priced (that is, priced according to the most recent "sold" comparables). Since the spring market is just now beginning to pick up momentum, its over-all strength will be more easily determined in April, May and June, which are the hottest sales months of each year.<br /><br /><span style="font-size:78%;">*Statistics are taken from the Metropolitan Regional Information Syatem for three areas: Washington, DC, Montgomery Country, Maryland and the close-in suburbs of Northern Virginia.</span>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-65315642834454120282008-04-03T13:07:00.001-07:002008-04-03T13:11:08.619-07:00Making HeadlinesI have to say I am proud to be a part of Evers & Co. Real Estate. We were featured as the lead story in the Washington Post's Mega Real Estate Section this past weekend, which highlighted our very successful pricing strategy (or at least part of it ;0)). <a href="http://www.washingtonpost.com/wp-dyn/content/article/2008/03/28/AR2008032801324.html">Click here</a> to read more!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-73961595272644055622008-03-27T19:47:00.001-07:002008-03-27T19:54:48.046-07:00Open House<div><br /><div><div>Hey all! I'll be holding <a href="http://www.2363champlain.com/">2363 Champlain St NW</a> open this Sunday, March 30, from 1-4 PM. Stop by and check out this great new listing. For more information, click the address above.</div><div></div><div></div><div></div><div></div><br /><div>Hope you see you there!</div><br /><br /><br /><br /><div></div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRY20qF7QYJ_1WRr5RQbWocG1j82qTSiqs-Hv2DEYFYCMdOXPme9nnxDiWKZ1zebdI33of3Mnvan8-uv1Ow6QCu7SkUZvF8yLWtqg59t08eJ6YxuaJM86zQlTvMazPmUS7l-CWf9V2YZk/s1600-h/web+0+din-kit+GR7E7680.jpg"><img id="BLOGGER_PHOTO_ID_5182619425770149106" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRY20qF7QYJ_1WRr5RQbWocG1j82qTSiqs-Hv2DEYFYCMdOXPme9nnxDiWKZ1zebdI33of3Mnvan8-uv1Ow6QCu7SkUZvF8yLWtqg59t08eJ6YxuaJM86zQlTvMazPmUS7l-CWf9V2YZk/s200/web+0+din-kit+GR7E7680.jpg" border="0" /></a> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAxBOqk56F_wTnj5RzC5YyDggz5B9Xm-Y2iyFhIMhy7S0xErVnd8mlhj3_1vtksA4hsg46dczwLC4qIUdqkAjl9ou14lJUmL1lQNB1mZij0GuGx7EgWlQInR31L8qKjRp8MEnyQ-mAoMs/s1600-h/web+00+front+GR7E7720.jpg"><img id="BLOGGER_PHOTO_ID_5182620155914589442" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 188px; CURSOR: hand; HEIGHT: 132px" height="127" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAxBOqk56F_wTnj5RzC5YyDggz5B9Xm-Y2iyFhIMhy7S0xErVnd8mlhj3_1vtksA4hsg46dczwLC4qIUdqkAjl9ou14lJUmL1lQNB1mZij0GuGx7EgWlQInR31L8qKjRp8MEnyQ-mAoMs/s200/web+00+front+GR7E7720.jpg" width="177" border="0" /></a> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqCqblKiZV0xHwscJi30rBj_9J6KoGnCfPAL9OdFk-qh16Wn-HgsDcBrZbwOUZLgZc0Y7qCFCppfpBbB_0B7OhEycoPmYtlmCGeM8f9tfdGNFzQnA0J16XwZ4irVt0Pv2YAY2j1a_oJ98/s1600-h/web+0+mster+GR7E7686.jpg"><img id="BLOGGER_PHOTO_ID_5182620349188117778" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 197px; CURSOR: hand; HEIGHT: 132px" height="129" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqCqblKiZV0xHwscJi30rBj_9J6KoGnCfPAL9OdFk-qh16Wn-HgsDcBrZbwOUZLgZc0Y7qCFCppfpBbB_0B7OhEycoPmYtlmCGeM8f9tfdGNFzQnA0J16XwZ4irVt0Pv2YAY2j1a_oJ98/s200/web+0+mster+GR7E7686.jpg" width="194" border="0" /></a><br /><br /><br /><br /><div></div><br /><br /><br /><br /><div></div><br /><br /><br /><br /><div></div></div></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-18986411753848350342008-03-14T19:17:00.000-07:002008-03-14T19:19:05.400-07:00Help the victims of the Mount Pleasant FireVictims of the fire at 3145 Mount Pleasant Street have been relocated to the Best Western Hotel on South Capital and I Streets SW through Saturday night. City officials and community workers are helping to find semi-permanent housing for the displaced tenants until the building is refurbished and they can move back in. We've been in close contact with Yasmin Romero at the tenant association and other workers orchestrating relief efforts. Below are the latest needs - Yasmin and the other tenants are incredibly grateful for the outpouring of support from the community:Main Needs for Volunteers and Donations:<br /><br />1. Translation at the Hotel<br /><br />We need translation for tenants who are now housed at Best Western Hotel at I and South Capitol Streets SW. The Hotel is right next to the DC Inspection Station. You will be helping translate for people working with DC officials to determine medium and long term needs. Please call Jackie Reyes at 202-340-8255 or write her at Jackie Reyes <jackie.reyes@dc.gov>; it would be greatly helpful if you can provide these services TODAY… OR you can also register and indicate your availability to provide these services through the Hear Mount Pleasant website www.hearmountpleasant.org. Please provide your contact information and your availability and someone from the Mayor's Office will call you and schedule you.<br /><br />2. Dinner and Gifts for Children... PLUS Cell Phone Chargers – needed at the Hotel<br /><br />The hotel is very isolated and the tenants would like some food from home. Tonight and tomorrow, Mount Pleasant's neighborhood restaurants are providing dinner for the tenants at the hotel. Don Juan's is making and delivering food for tonight and another, probably Haydee's as well.A few children between the ages of 1-12 need school supplies, toys and backpacks. Please bring toys and school supplies for the children to Don Juan's at 1660 Lamont St so Mr. Ferrufino can deliver the items for the children along with the dinner he is bringing the tenants.Yasmin also says the tenants really need phone chargers. I don't have more specific information than that but if you have a phone charger to donate – please also bring that to Don Juan's at 1660 Lamont so he can deliver them with dinner tonight or take them directly to the hotel.<br /><br />3. Donate clothes, shoes, food – and Volunteer to help sort donations<br /><br />Neighbors Consejo 3118 16th St NW needs volunteers to help sort clothes. They will be open until 10PM tonight and all day tomorrow (Saturday).People can also take donations of food and clothing to Martha's Table - 2114 14th St NW.<br /><br />4. Cash and check donations<br /><br />Make checks payable to Columbia Heights Shaw Family Support Collaborative (CHFSC). CHFSC is a non-profit agency working with city officials to coordinate relief efforts. They are set up to make checks directly to clients so you know that your money will go directly to the displaced tenants.You can deliver your monetary donations to Pfieffer's Hardware 3219 Mount Pleasant Street, or directly to CHFSC at 1816 12th Street NW.RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-2737719039540512772008-03-11T17:56:00.000-07:002008-03-11T17:58:23.273-07:00The Evers & Co. Real Estate Report for February<div>Buyers and sellers will continue to experience two different real estate markets, depending on where they live. The close-in markets ref<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSN0wKNG_V37WY_9E5faEGYf2wSDa7b2xUc4Cma_lnaPZ3IZuuGt4oV2UntxawiAV6iOig4S3hCAm6gSF0gCOtP8-XmnXfh0VJQGumMCZKtOuTMQaN9mjO6CWXmiRif90qlYD4w7bGu1Q/s1600-h/web+1607+front.jpg"><img id="BLOGGER_PHOTO_ID_5176653013430942226" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSN0wKNG_V37WY_9E5faEGYf2wSDa7b2xUc4Cma_lnaPZ3IZuuGt4oV2UntxawiAV6iOig4S3hCAm6gSF0gCOtP8-XmnXfh0VJQGumMCZKtOuTMQaN9mjO6CWXmiRif90qlYD4w7bGu1Q/s200/web+1607+front.jpg" border="0" /></a>erenced in our study are selling well and that should continue through the spring market. In fact, February was the third month in a row showing declining inventory, with the average months' supply going from 9.2 months in December to 6.9 months in February. In addition, prices have not declined in this area, with the average price showing a small increase in 2006 of 1.5%, and a 1.75% increase in 2007. However, the farther suburbs are continuing to be weak because of high inventory, caused by short sales and foreclosures, which in turn, are putting downward pressure on prices. These areas will probably take the rest of the year, and maybe longer, to recover, while the close-in market should pick up steam as we move into the spring market.<br /><br /><span style="font-size:78%;"></span></div><div><span style="font-size:78%;"></span> </div><div><span style="font-size:78%;">*Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C., Montgomery County, Maryland, and the close-in suburbs of Northern Virginia.</span></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-33058611392776026452008-03-07T10:25:00.000-08:002008-03-07T12:15:39.275-08:00To buy or not to buy......that is the question (of which I get asked ALL the time!). So, here are 5 reasons to buy and 5 reasons to not buy:<br /><br /><strong><span style="font-size:130%;">5 REASONS TO BUY:</span></strong><br /><br />1. Prices in the DC area are relatively stable compared to the national market as a whole. Some areas are hotter than others (we still have competing bids on certain properties - I do bear witness!). Don't wait for the "bottom" to hit...we may be there already and it is best to get in before the market starts turning up.<br /><br />2. You plan to own the home for at least 5 years. There is no denying there is a slump right now, but if you know you're going to be in a property for more than a 1-2 year stint, you will certainly ride out any down turn and come out on top when you are ready to sell.<br /><br />3. Your rent is close to what you'd pay in a mortgage payment. If you are ready to buy, this scenario will give you the one benefit rent doesn't...tax deductions!<br /><br />4. You know what you want and it is available. You know what neighborhood you want, what type of house and a price range you're comfortable with and we wave our wand and it's on the market...BUY IT! If you like it, others will too and there will always be a demand for it.<br /><br />5. You've built equity in your home or have a low mortgage balance that isn't giving you the tax benefit you would like...2 scenarios...if you can downsize and make a profit, do it...or if you want to use the equity to "buy up" then do it. Don't let the equity slip away or risk paying higher prices for what you really want to purchase.<br /><br /><span style="font-size:130%;"><strong>5 REASONS NOT TO BUY:</strong><br /></span><br />1. You are in a home that you've owned less than two years. You probably are lacking in equity if you financed and can get hit with capital gains taxes.<br /><br />2. You job isn't secure or you're considering a career change that may temporarily impact your cash flow. I think that is pretty self-<span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">explanatory</span>!<br /><br />3. You only plan to be in your new home for a few years. While it is not necessary to buy at "the bottom," it is best stay in your new home long enough to ride out any decline value.<br /><br />4. You do not have good credit or no money for a <span class="blsp-spelling-corrected" id="SPELLING_ERROR_1">down payment</span>. First, bad credit = HIGH rates (and in some cases, no mortgage qualification); second, many loan products now require a larger down payment where if you don't have the cash, you can't buy.<br /><br />5. You have a house to sell in a hard-hit area and won't get any equity out. It may be worth waiting it out if you can't rent your current home to cover the mortgage payments, don't have the means to hold both mortgages until your home sells, or you are in a negative equity situation and do not have the means to pay off your loss.<br /><br />Well, that's is the short and long of it. If you want to buy or are thinking about it, review these reasons above and see where you come out. It's not all or nothing, just set your expectations in line with the market and go from there!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-66609652227370760162008-03-07T08:19:00.000-08:002008-03-07T08:29:43.822-08:00FHA Loan Limits IncreaseIt's better, much better, than expected! The FHA has officially raised their loan limits to $729,350 for Metro DC. This allows buyers to buy more house for less down, without having to use "creative" financing options. There is a possibility that the down payment amounts may be reduced from the current required 3%, but this has not been announced at this point. I have to say I am impressed by the government and agency response to the credit crisis. This is great news for everyone!<br /><br /><a href="http://portal.hud.gov/portal/page?_pageid=33,717234&_dad=portal&_schema=PORTAL">CLICK HERE </a>for additional and updated information.RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-51832790262311834572008-02-26T13:00:00.000-08:002008-02-26T13:04:27.243-08:00Some help is actually coming!It is official, the confirming loan amount in DC is increasing from $417,000 to $562,200! This means that you can now get better rates on loans as large as $562,200, making many DC homes more affordable to more people. This change will be implemented in the next 30 days.RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-73655957093328330092008-02-12T17:01:00.000-08:002008-02-12T17:04:39.756-08:00The Evers & Co. Real Estate Report for January 2008January showed an encouraging decline in inventory in the close-in Metro area, from the high 9 month supply in December to a 7.6 month supply. The volume of sales is still much lower than a year ago, but surprisingly, the average sales price in Washington, D.C. went up for the fourth month in a row with a hefty 11.5% increase over January of last year. This underlines the fact that the District has been the most successful market in the Metro area for the last several months, with well-priced single family homes in NW Washington picking up momentum in recent weeks, sometimes getting two or three purchase offers as soon as they hit the market.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQKkIZEm5gOfSko0Yb0Lrs1zz9atXDOGq1jNaYbksWy7OrvYVlLYR-FxmUVtcGRP89kdqHBdOmgrXaj4xPxH8HcXcLD_AK2ccPbUmsF5Qp_Go1gO63EyY_wvSWZh1mSMOdFxQwsUfjRrg/s1600-h/Logan+House1.jpg"><img id="BLOGGER_PHOTO_ID_5166263945107338754" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" height="164" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQKkIZEm5gOfSko0Yb0Lrs1zz9atXDOGq1jNaYbksWy7OrvYVlLYR-FxmUVtcGRP89kdqHBdOmgrXaj4xPxH8HcXcLD_AK2ccPbUmsF5Qp_Go1gO63EyY_wvSWZh1mSMOdFxQwsUfjRrg/s320/Logan+House1.jpg" width="134" border="0" /></a>The good news for buyers and sellers is that the spring housing market will benefit from two processes in motion. One is the Federal Reserve Bank's aggressive lowering of the Fed rate, which immediately affected short term loans and should have the ultimate effect of lowering the cost of many mortgage products. The second change is the Federal government's approval of the economic stimulus package which includes an increase in the conforming loan limit from $417,000 to around $600,000. This will make bigger loans cheaper, and should give the spring housing market a genuine boost, both here in the Metro area and across the country.<br /><br /><span style="font-size:78%;">* Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery County, Maryland; Fairfax County, Arlington and Alexandria in Virginia.</span>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-8740020141348651942008-02-11T14:36:00.000-08:002008-02-11T14:40:38.185-08:00Great ResourceHey All! Here is a great new resource through the Washington Post to look up information on neighborhoods, shopping, restaurants, crime, etc. by zip code using Google Maps! Very good tool.<br /><br /><a href="http://www.washingtonpost.com/wp-srv/local-explorer/">http://www.washingtonpost.com/wp-srv/local-explorer/</a><br /><br />Enjoy!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-49837773747772545952008-02-08T17:50:00.000-08:002008-02-08T17:53:29.020-08:00Good Mortgage News!Congress approved the economic stimulous package today, which is expected to be signed by the President as soon as next week. The stimulous package includes raising the level of conforming loans to somewhere around $600,000 or more, from the current level of $417,000. This will result in better rates on loans that are now considered jumbo loans (higher levels, higher rates). I don't yet know when this will take effect, but will keep you posted as I know more.RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-49794389969777876962008-02-05T17:17:00.000-08:002008-02-05T19:59:41.535-08:00Metro DC vs. The NationAs we frequently hear in the media, the overall real estate market is hurting. However, the market in Metro DC is not as drastically affected as other areas in the nation.<br /><br />Metro DC continues to have hot spots in addition to areas that are cooling down. Competitive bidding still exists in the first weeks that a property is on the market, but we also have properties that have been on the market for months (and in rare cases over a year+).<br /><br />Are you looking to buy in AU Park, Dupont, or Capitol Hill? You’d better move fast: the housing inventory has thinned. Properties that show well and are priced appropriately do not stay on the market long.<br /><br />Are you thinking about pouring your blood, sweat, and tears into a fixer-upper in a transitional neighborhood? You should take your time and find a bargain heading toward foreclosure.<br /><br />Overall for the Metro DC area, prices are up 2.5% percent over 2006 (prices have not declined in the last eight years). Even though a 2.5% increase does not match the exponential 22% price increases that we witnessed from 2004 to 2005, it’s certainly not a sign of a tanking market. Overall sales volume is down approximately 22% in 2007 from 2006, but is still 40% over the 2005 sales volume.<br /><br />As you can see, sales volume and pricing are not to be confused. Prices are holding in many zip codes in DC. But let’s look a little closer at the sales:<br /><br />You will find that the market conditions for real estate worsen the further that you travel beyond the Beltway. Prince William, Loudoun, Prince George’s counties and parts of Fairfax County are hurting, just to name a few areas seeing drastic declines in the housing market. In Prince William County, for every listing sold in December 2007, there were roughly 16 other listings. In Stafford County, there were 22 listings for every 1 sold. In DC, however, for every listing sold in December 2007, there were only 5 other listings. Quite a large difference, eh?<br /><br />And as for foreclosure rates: in DC, for every 10,000 owner-occupied units, 24 are in foreclosure. In Prince William County, for every 10,000 owner-occupied units, 288 are in foreclosure.<br /><br />The moral of the story…the numbers don’t lie, but they do need to be kept in perspective.<br /><br />So let me answer some questions you may have:<br /><br />1. Should I buy a house in this turbulent market?<br /><br />A. It depends on what you want to buy and for how long you plan to occupy it. If you are looking to flip a property for profit, this may not be the best time. Are you looking to invest in a property and hold on to it for over 5 years (either to occupy it or rent it out)? Then, yes, buy now! <strong>Rates are low, prices are low.</strong> Are you looking to make a home and enjoy the benefits of homeownership? Then, yes, buy now! <strong>Rates are low, prices are low.<br /></strong><br />2. Should I sell my house in this market?<br /><br />A. If you are reasonable about pricing and will work with an agent to stage and present it well, then yes. If you’re looking to realize the profit that you could have had last year or two years ago, it’s not going to happen. If you bought a house last year and want to break even or make profit, you may want to consider rental options for your property.<br /><br />3. What are short sales vs. foreclosures?<br /><br />A. That’s a whole other blog post, but contact me if you want more detail (or keep an eye on here as I’m sure I will write about it soon enough).<br /><br /><span style="font-size:78%;">All statistical data was provided by GMU’s Center for Regional Analysis (</span><a href="http://www.cra-gmu.org/"><span style="font-size:78%;">www.cra-gmu.org</span></a><span style="font-size:78%;">). They have pretty charts that help make more sense of all this data!!!</span>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-18317977996613739342008-02-05T17:02:00.000-08:002008-02-05T17:17:40.176-08:00Adventures in Real Estate Pt2Security alarms. Hate them, but I know from experience they work! This past Sunday I was taking a couple out to show homes in Ledroit Park (thankfully they are friends!) and the last house on the list to see did not require any arrangements..."show anytime" no contact to call, etc. ...needless to say we show up at the front door, unlock it and we see a note "Call owner for alarm code" ... so I could have taken this step prior if the owner (a For Sale By Owner property) would have instructed it, but okay, I call...no answer...ugh! I have clients at the front door, why oh why can't all agents/sellers be prudent with instructions?! <br /><br />Well, as I often find alarms in vacant homes disabled and my clients WERE at the front door with me, I chanced it…after giving the owner one more try. All I can say is lesson learned... the alarm was not disabled and during the period of "beep, beep, beep..." and I am thinking the police are being called out as I stand in front of it, I call the owner in last attempt to reach them...just then (and no answer from the seller), a deafening (seriously) and horrific screeching came from the alarm...I momentarily went into a scene from the movie "The Ring" and was freaked out of my pants! <br /><br />Try as we may, we just couldn't stay in the house with the alarm sound. As the door shut and locked behind us, the alarm seemed to have stopped...and thankfully no cops showed up (at least before we had a chance to high-tail it out of there...just kidding!). <br /><br />Moral of the story to sellers: if you're selling on your own (or with a listing agent if you're doing it right) and have alarms, WARN showing agents to call BEFORE showing!!!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-19043041189308933262008-02-01T19:04:00.000-08:002008-02-01T19:08:03.423-08:00Top 5 Up-And-Coming GLBT Neighborhoods in DCThe “gayscape” of DC is growing. As more of the GLBT community becomes interested in an urban living experience that is convenient to the gay clubs, restaurants and shopping downtown DC has to offer, the traditional gayborhood centered on Dupont Circle has branched out. Gay business owners are expanding and diversifying the locations where they are setting up shop. Gay couples and individuals are following in their footsteps to get better deals in the housing market. Here’s the top 5 up-and coming neighborhoods that are welcoming the vitality, friendliness and style of their newest gay neighbors:<br /><br />1. <strong>Logan/Shaw</strong> - With great bars, shops and restaurants, many gay-owned and operated, Logan Circle is making a bid as the new gay Mecca of DC. A wide array of boutique shopping, Whole Foods grocery, and beautiful, modern condos mixed in with grand Victorian homes.<br /><br />2. <strong>U Street Corridor</strong> - Newer condominium developments and great row home conversions provide superior living options for the U Street community. The tail end of the U Street Corridor boasts the new gay, neighborhood sports bar, Nellie’s, and a new dance club, Town. Both bring vitality and buyer interest to the area.<br /><br />3. <strong>Mt. Vernon Triangle/Convention Center</strong> - The developing high-rise condos surrounding the new convention Center are geared toward a total urban submersion. While still accessible to the nightlife in Shaw, the U Street Corridor and downtown, the sleekness of modern living and desired conveniences (grocery, coffee, gym, etc.) make this area a great option for true city dwellers.<br /><br />4. <strong>Penn Quarter/Chinatown</strong> - Concertgoers can walk to the Verizon center, shop boutiques and larger retailers, and eat at top rated restaurants, all within steps of their home. Conveniently located near the hub of the metro system, Penn Quarter has quickly become an established, diverse, and sought-after city center.<br /><br />5. <strong>16th Street Heights</strong> - For those seeking a more residential area with great homes (some with great potential), 16th Street Heights provides a diverse neighborhood option. While not within walking distances of the gay highlights of the above neighborhoods, the Heights are just a short drive or cab ride away, but still provide a quieter get-a-way to call home.<br /><br /><span style="font-size:78%;">***As seen in the up coming FUNMAPS: DC/Baltimore/Rehoboth Edition, by Denny Horner***</span>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-42730009917612612832008-01-27T20:34:00.000-08:002008-01-27T17:34:59.194-08:00New Listing in Mt. Vernon Triangle<div align="center"><a href="http://www.sonata803.com/">http://www.sonata803.com/</a></div><div align="center"></div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFDV3mm8M0pnZFWesKYPJvvol5KCOpYf0UKEx8QJSxF-Exr_iDhsow1jqSFwzS7227936fZRHw9EBKHMdeeI2TgFcEJPtYNinzKZkAEYo9YuIJTvancPhYROTPRu5eTp8dI4mA8UmjZVQ/s1600-h/GR7E4367.JPG"><img id="BLOGGER_PHOTO_ID_5160334353359599970" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFDV3mm8M0pnZFWesKYPJvvol5KCOpYf0UKEx8QJSxF-Exr_iDhsow1jqSFwzS7227936fZRHw9EBKHMdeeI2TgFcEJPtYNinzKZkAEYo9YuIJTvancPhYROTPRu5eTp8dI4mA8UmjZVQ/s320/GR7E4367.JPG" border="0" /></a>Welcome to this exceptional loft suite in DC’s newest boutique building, The Sonata. Ideally located within blocks of the Nation’s epicenter, multiple metro stations, Union Station, the Convention Center, and Penn Quarter, The Sonata was one of the first buildings to emerge in the exciting Mount Vernon Triangle. This spectacular two bedroom, two bathroom loft offers a harmonious blend of contemporary living with classic architectural design. The unique layout leads to a dramatic rounded living space drenched in sunlight from floor to ceilings windows overlooking the Capital Dome. Cook up a masterpiece in the stylish open kitchen appointed with granite countertops and stainless steel appliances. The generous master bedroom suite includes oversized, walk-in closet space and a luxurious spa-like bath. Enjoy the breathtaking rooftop deck with views of everything DC, a perfect place to entertain guests and watch the Fourth of July Fireworks! </p><p>Offered at: $699,000<br /><br /><span style="font-size:78%;">Photos By Piers Lamb</span><br /></p>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-28467631346986893442008-01-23T10:15:00.000-08:002008-01-27T17:29:32.134-08:00Mortgage Rates Over the Last 16 YearsThis is a good chart showing mortgage prices over the last 16 years. As you can see, the rates are near all-time lows and it is a great time to buy real estate in Metro DC!<br /><br /><img id="BLOGGER_PHOTO_ID_5158737819526396242" style="DISPLAY: block; MARGIN: 0px auto 10px; CURSOR: hand; TEXT-ALIGN: center" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiY15PZ_Akia1e2EAxqKBbnv3pGVP8USwc8t8b6WXuiifN6M7Gqlreyma_-XqG6UIRCTrBFDs3v7pxzoVsKIMEQ9kqwzAxd9tOFd_R-eXL6aG-rOzOVPP44c1ZkJLS75NLgiEvUqRw56-8/s400/untitled.bmp" border="0" /><br /><br /><div></div>RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0tag:blogger.com,1999:blog-6842050445277689223.post-70086807020387255542008-01-17T12:41:00.000-08:002008-01-17T12:48:06.207-08:00Adventures in Real Estate Pt1Being a Real Estate Agent has it's advantages...one being that you can get yourself (and your clients) in interesting situations. Last night I was showing a listing to a client couple of mine in Capitol Hill. Lovely home, cute doggy "guarding" the house and a backyard/parking pad with garage door opener that was completely fenced in. Lesson to remember when going out into these fully fenced, no access out spaces is to make sure the door you entered through doesn't shut behind you and lock! Well, needless to say, all three of us are on the patio area, checking out the storage and parking space and go to enter back into the house...problem is, the door is locked!<br /><br />Well, short of the story is that after about 20 minutes of devising a plan to escape, my ever brave (and thankfully atheletic) client managed to jump the fence and get around to the front door which was fortuntely unlocked and we escaped safely. Oh, the fun we can have in real estate!!!RealtorDennyhttp://www.blogger.com/profile/06384194786194124901noreply@blogger.com0