DC Real Estate News: July 2009

As my last post said - the Real Estate market is going strong in Washington DC.  Now I don't want people who read this think it's all roses here - or that anything will sell - that is simply NOT true.

But what the data shows is that the market in DC - is going pretty darn good.

The facts (June 2009 vs June 2008):

In Washington DC as a whole:

- The total homes sold was up 11.27%

- Median Sold Price was down only a small bit  -1.67%

Now some areas are of DC are seeing much larger gains.

Georgetown area (zip code 20007):

- The total homes sold was up 15.56%

- Median Sold Price was UP 5.92%

and other areas are selling - just at lower prices.

NE DC- Trinidad/Brentwood (20002):

- The total homes sold UP 72.73%

- Median Price way down -18.73%

The other important fact: The Inventory of homes on the market has fallen to a 5.7 month inventory.  What the summer will bring is yet to be seen; but as long as sellers keep their prices in line - the buyers are willing to buy.

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

I have mentioned this before - and it is still happening.  Now don't get me wrong - not every home has multiple offers; nor do I ever want to see that again!

Just yesterday my team had an offer which we lost in multiple offers.  Ours was a full-price, all cash offer.  The other two - fought to OVER list price.  

Now this was a lovely single family home in NW DC; not a perfect home; but a well-priced - in good condition home that was in a popular neighborhood and close to Metro.  Lot's of positives with this home.  Sadly; it won't be out clients who get to live there.

It just goes to show - in the right neighborhoods, at the right price, in good condition - homes sell and sell FAST (this was on less than a week).

Happy Home Buying !!

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

One of my "annoyances" is that many Real Estate agents use the cheap combination lockboxes, instead of the more expensive (and much more secure) electronic lockboxes.  My feeling is the electronic lockboxes keep track of who entered when and that only folks who SHOULD have access CAN have access.

The other silly thing is that some agents all use the same combo codes.  Not very "secure" if you ask me!

So last night; I was out very late showing properties to a client.  SHe wanted to take a 2nd look at a place - since we were right in the neighborhood.  We pulled up and DANG - a combo box.  I called the Showing Service; whom had the combination to the vacant home - they were closed for the night.  Damn.

Well; it WAS a silly Combo box.  ON a hunch I tried one of the very common 3 letter combinations.  BINGO.  The lock pops open and I was able to show the client the condo (and I think she is going to buy it!).

OK; so this may have good for me and my buyer - but having a combo box that everyone in the city knows the combo - not so good.

When will they ever learn?

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

In Washington DC; we do love tourists.  Many of us will will even point that lost tourist (you know the one with the huge map trying to find Chinatown) - in the right direction.  However - we do have our pet peeves....

Now I am also not really sure "when" 'Tourist Season' is in DC?  Between Inauguration, The Cherry Blossom Festival, High School student trips and sumer vacation - who knows?  But in honor of the last vacations of summer... here is my:

TOP TEN THINGS TOURISTS DO IN DC - THAT DRIVE US CRAZY !

10.  We use US Dollars only; please put away your Euros, Yen and British pounds.  Just because it's worth more does not mean Starbucks will accept them.

9.  It's JUST a Motorcade.  No need to stop in the middle of the sidewalk to stare.  They pass by all the time.

8.  Don't whine to me that your car got towed.  You need to read the 14 different parking signs up on that post!  I know they don't make sense - welcome to DC.

7.  Just because your license plate is from that state between here and California, does not mean you get to stop in the middle of the street.

6.  Do us all a favor - DO NOT attempt to drive around Dupont Circle.  It is for professionals only.  Why else would we put 3 sets of traffic lights there?

5. It's JUST a subway. Lot's of cities have them.  Ours is just cleaner, more expensive and broken down more.

4. If you can't parallel park - this is not the place to practice.

3. Not even tourists are allowed to talk on their cell phones while driving.  Get off and drive!

2. If you don't know how to use the subway - don't ride at Rush Hour!   STAND TO THE RIGHT!

and the #1 thing that Tourists do to drive us crazy in DC....

1. Yes, People actually do live and work here - the sidewalks are not 3 strollers Wide.....  Please let us get to where we need to go !

(This is all to be taken with a small human trait known as Humor.  If you are offended; you probably need to switch to decaf).

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

I was away last week on vacation; but like any Real Estate Agent and work-a-holic; I checked email at least 2 times a day.

Early last week I received a random email asking me a question about home buying.  Not knowing how the person found me or why; I still sat down and sent a very detailed answer and asked them to contact me with more questions and set up a face to face meeting.

I heard nothing in return.  OK – well as is life sometimes.

Two days later; a different person emailed me and asked a different question.  Something seemed weird – 2 random people emailing me out of the blue?  Well I still took time out of my vacation to answer the person and again asked them what other questions I may help them with.

Nothing back.

Since then – I have received 2 more of these “random” emails.  All from different people using different emails at .gmail and none of them are soliciting anything or trying to sell me something or anything that a true spammer would want to do.

I am confused?  What's the deal ???

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

SPAM ... no not that mystery meat in a can - I am talking the SPAM of the current times.  The stuff that fills our email daily and now - I am seeing all over my blog comments.

In the past week I have had all these SPAM comments pop up on old blog posts.  Of course I "report them" and the hit the "delete" button.  The comments are up for about 10 minutes on average.  I wish Active Rain would have a better way of finding these folks and blocking them from our blogs.

I just don't get the spamming thing?  The Spammers MUST make money at this - or else why spend your time doing it?  It's is such a frustrating thing - but one of the things we deal with in the age of the Internet I guess.

In the meantime - my "delete" button is poised at the ready !