Below is a chart; showing the Average Condo List Price; for several Washington DC Neighborhoods.  Cleveland Park and Adams Morgan; continue to have some of the most expensive condos in the city.  While the Brookland neighborhood in NE DC, has much more inexpensive condos for sale.

* Note: The average studio price in Brookland is based from 1 unit; which is an unapproved Short Sale.

** Chart based on Data from January 22, 2009

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

After posting an article about renting your place for Inauguration; I have received several phone calls if I can help folks find renters for their places.

While there may be someone out there who will do this for some kind of fee; I do not specialize in rentals; especially something so short-term. However; I want to highlight a place which you should consider using to advertise your Inauguration Rental.

The Washington City Paper has a special section for Inauguration Rentals.  See HERE.  Now don't forget the Power of Craigs List either... It's FREE.

Now all you need is a lease agreement.  Oh Look - the DC Government has one on their website.  HERE IT IS.  

Now remember - Use caution when renting out your home.  Take caution before signing on the dotted line.  It IS a contract.

See also the City Paper INAUGURATION GUIDE.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

The $5,000 DC First-time Homebuyer Tax Credit has been Approved for 2008 & 2009.

The Districts 1st time homebuyer tax credit was included in the Emergency Economic Stabilization Act of 2008.  This was the piece of legislation which was so controversial; passed by Congress on the 3rd of October and signed into law by Bush the same day.  The tax credit is retroactive to Dec 31st, 2007 and good through Dec 31st 2009.

Families or individuals buying a home inside of the District of Columbia for the 1st time are eligible.  They may have owned a home elsewhere; as long it is not in DC.

This credit is available nowhere else in the country and is much better that the $7500 credit introduced earlier; as the DC credit does not have to be paid back over time; but is a 1-time credit.

This credit was introduced over 10 years ago and has helped the housing market in the District and helped to increase the population and thus, the tax base for the city.

For more information visit Congresswoman Eleanor Holmes Norton's site HERE.

As always; for Individual Tax Advice - Seek a Professional Tax Attorney or CPA.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

Here is the breakdown as of September 29th, 2008

This week inventory levels are up slightly; which is normal during the Fall "Selling Season". 

Montgomery County and Arlington County; continue to have inventory levels close to last year.

Washington DC, is seeing a spike in the number of Single Family Homes on the market.  Due mostly to slower home sales in NE and SE Washington DC (NW DC is under its 2 yr high in inventory by 7%, while DC as a whole is over its 2 yr high by 2%). 

Here are the number of homes on the market including the number of homes that were taken Off (EXPIRED) the market last week. 

Washington DC

Single Family:     Actives: 2027 (Up 2 from last week)            Expired: 32          Under Contract: 508 (Up 23 from last week)

Condos:              Actives: 1360 (Down 15 from last week)      Expired: 13          Under Contract: 368 (Down 18 from last week)

Arlington County

Single Family:     Actives: 514 (Up 20 from last week)           Expired: 6            Under Contract: 153 (Down 8 from last week)

Condos:              Actives: 557 (Up 24 from last week)          Expired: 4            Under Contract: 113 (Down 5 from last week)

Prince Georges County

Single Family:     Actives: 7318 (Up 26 from last week)        Expired: 95           Under Contract: 988 (Down 40 from last week)

Condos:             Actives:  836 (Up 6 from last week)          Expired: 7             Under Contract: 99 (Down 14 from last week)

Montgomery County

Single Family:     Actives: 4922 (Down 46 from last week)    Expired: 42          Under Contract: 1171 (Down 21 from last week)

Condos:              Actives: 1419 (Down 4 from last week)     Expired: 5           Under Contract: 310 (Down 12 from last week)

It is important to see the number of homes taken "Off" the market.  While many of these homes will return to the marketplace a week or two; seeing a listing "expire" means that the seller and agent thought or expected the home to be sold by now.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

The SW section of Washington DC has long been considered by many an area of undervalued Real Estate. What has been missing?  A GOOD grocery store, a Starbucks, maybe a Potbelly or a bookstore.  That, along with more newer and modern Residential and Office space will help grow this area immensely. 

Now the new Waterfront Project; is moving full steam ahead to bring some of these much needed services and spaces to the very conveniently located SW section of Washington DC.  Financing has been secured for the 1st of two buildings at the Waterfront Project.  See Article.  

With major redevelopment 4 blocks away where the new Washington Nationals Baseball Stadium now resides; this entire section of the city is sure to bring many more suburbanites into the city to live, eat and play.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA

Here is the breakdown as of September 22nd, 2008

This week inventory levels are up slightly; which is normal during the Fall "Selling Season". 

Montgomery County and Arlington County; continue to have inventory levels close to last year.

Washington DC, is seeing a spike in the number of Single Family Homes on the market.  Due mostly to slower home sales in NE and SE Washington DC (NW DC is under its 2 yr high in inventory by 7%, while DC as a whole is over its 2 yr high by 2%). 

GOOD NEWS !! in Prince Georges County; the number of properties for sale have dropped slightly from record highs - better yet - the number of homes under contract has reached a 2 year HIGH.  This could be a true sign that the market has in fact started to level-out.

Here are the number of homes on the market including the number of homes that were taken Off (EXPIRED) the market last week. 

Washington DC

Single Family:     Actives: 2025      Expired: 32          Under Contract: 485

Condos:              Actives: 1335      Expired: 13          Under Contract: 386

Arlington County

Single Family:     Actives: 494       Expired: 6            Under Contract: 153

Condos:              Actives: 533       Expired: 4            Under Contract: 118

Prince Georges County

Single Family:     Actives: 7293    Expired: 95           Under Contract: 1028

Condos:              Actives:  830     Expired: 7             Under Contract: 113

Montgomery County

Single Family:     Actives: 4968    Expired: 42          Under Contract: 1192

Condos:              Actives: 1423    Expired: 5            Under Contract: 322

It is important to see the number of homes taken "Off" the market.  While many of these homes will return to the marketplace a week or two; seeing a listing "expire" means that the seller and agent thought or expected the home to be sold by now.

Call James for all your Real Estate needs and questions; servicing Virginia, Maryland and the GreaterWashington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA