Today I am going to talk about 'What's Happening Now,' in my market update and tell you what it means for home sellers this summer!
In June, prices reached record highs for the month. The number of home sales in June was the highest monthly total since August 2005.
Let's just think about that for a minute... the two best sales months in the last 10+ years happened in the summertime! So much for the common misconception... 'Nothing sells in the summer!' This year, one of my sellers sold on the Fourth of July! And last summer, three of my sellers celebrated Labor Day weekend by selling their houses!
Please stop by...OPEN 1-4pm Saturday, July 30th & Sunday, July 31st
3823 Fulton Street NW, Washington, DC 20007
Sparkling 6 bedroom, 4 1/2 bath semi-detached home with contemporary feel. High ceilings, open kitchen to large family room with fireplace. Gorgeous screened porch perfect for summertime relaxation and entertaining. Walkout lower level au pair suite includes a huge rec room, full kitchen, large and private entrance. Parking for two cars. A short walk to parks, the National Cathedral & shops along Wisconsin Avenue.
CLICK to view architectural photos & color floor plan.
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the summer as many real estate professionals are reporting bidding wars with listings actually selling above listing price. What about your house?
If your house hasn’t sold, it is probably because of the price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.
The housing market is hot. If you are not seeing results you want, sit down with your agent and revisit the
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.
Most believed that the Brexit decision would drive mortgage rates down and keep them down for some time. As CoreLogic reported:
“First-time buyers can count on continued low mortgage rates to help with affordability issues. Similarly, re-setting adjustable rate loans will have less of a rate shock, and in some cases may even go down.”
What has actually happened?
Initially, rates did fall. However, Freddie Mac has reported that rates have
Please stop by...OPEN 1-4pm Saturday, July 23rd SUNDAY open house CANCELLED!
1912 37th Street NW
Fabulous 3-4 bedroom with 2 full baths, living room with fireplace, separate dining room, open kitchen to 2 story family room addition with floor to ceiling windows, sliding doors to stone patio & lovely fenced garden. Wood floors throughout, central air conditioning & 3 skylights. Separate 1,050 sq. ft. lot conveys, abundant parking. Great location steps to Georgetown!
Sparkling, updated one bedroom plus loft on top floor with cathedral ceiling, skylights, park views and wood floors in excellent condition! Washer/dryer and central air. Outdoor pool and tot lot. Walk to tennis, dog park, playground, parks, gardens, Giant, CVS, restaurants, post office and more!
Condo fee: $494.87 per month includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.