According to the MRIS (Multiple Regional Information Systems, Inc), the following real estate transactions have taken place in Georgetown real estate during the week 6/21-27
5 new listings: 3 Single Family (SF) ($1,395,000- $1,995,000) and 2 Condo/Co-op (C/C) ($639,000 - $795,000)
5 properties came under contract: 4 SF ($699,000 - $3,450,000) and 1 C/C ($775,000)
5 properties went to closing during this time frame: 2 SF ($1,699,000 - $2,375,000) and 3 C/C ($339,000 - $1,995,000)
6/24/2010
Georgetown Stats - week of June 14 - 20
According to the MRIS (Multiple regional information Service), the following real estate transactions have taken place in Georgetown real estate during the week 6/14-20.
11 new listings: 4 Single Family (SF) ($1,045,000- $6,995,000) and 7 Condo/Co-op (C/C) ($249,000 - $2,100,00)
5 properties came under contract: 2 SF ($759,000 - $2,195,000) and 3 C/C ($369,000 - $559,000)
5 properties went to closing during this time frame: 4 SF ($785,000 - $1,995,000) and 1 C/C ($799,000)
11 new listings: 4 Single Family (SF) ($1,045,000- $6,995,000) and 7 Condo/Co-op (C/C) ($249,000 - $2,100,00)
5 properties came under contract: 2 SF ($759,000 - $2,195,000) and 3 C/C ($369,000 - $559,000)
5 properties went to closing during this time frame: 4 SF ($785,000 - $1,995,000) and 1 C/C ($799,000)
The Sky Is Falling...or...maybe not.
HOME SALES ARE PLUMMETING!
-No, they're not!
-Yes, they are!!
-No, they're not!!!
-Well the Washington Post says so!
-Actually, the Post headline is referring to NEW HOME sales (See "Behind the Headlines" below).
-Oh. Well, what about resale?
-Compared to May of last year, May’s sales were UP 19.2 percent. Furthermore, new home sales made up only 5% of all home sales in May.
AND...the headlines we read and hear are National statistics, not local ones. We aren't necessarily setting the world on fire at the moment in DC, but we are definitely ahead of most of the rest of the world.
For local real estate news check out Long & Foster's Market Minutes
Behind the headlines
The news agencies and media are reporting:
• Big decreases in home sales
• Housing stats paint a deteriorating housing recovery
• The housing market is "double dipping"
-No, they're not!
-Yes, they are!!
-No, they're not!!!
-Well the Washington Post says so!
-Actually, the Post headline is referring to NEW HOME sales (See "Behind the Headlines" below).
-Oh. Well, what about resale?
-Compared to May of last year, May’s sales were UP 19.2 percent. Furthermore, new home sales made up only 5% of all home sales in May.
AND...the headlines we read and hear are National statistics, not local ones. We aren't necessarily setting the world on fire at the moment in DC, but we are definitely ahead of most of the rest of the world.
For local real estate news check out Long & Foster's Market Minutes
Behind the headlines
The news agencies and media are reporting:
• Big decreases in home sales
• Housing stats paint a deteriorating housing recovery
• The housing market is "double dipping"
The facts are:
• New home sales (only 5 percent of the market) are down, but existing home sales (95 percent of the market) are up.
• Written contracts were down in May, but we projected this with the pull-forward phenomenon caused by the tax credits.
• We expect June numbers to get back on track as the market works through the ripple effects of the tax credit.
If you are interested in more about this, my company, Long & Foster has a number of statistical resources I can either send you or point you in the direction of... Or click this link for immediate info: Long & Foster's Market Minutes
6/14/2010
Power in baldness
“Whatever you can do, or dream you can do, begin it. Baldness has genius, power, and magic in it”
This is a great quote attributed to Goethe, and I ran across it on a real estate web site. If you look at my picture on my blog you will note that I am bald. So you can imagine how excited I was to see that someone as famous as Goethe had memorialized what I have always known to be true.
However, having sung a lot of German songs set to texts by Goethe, it struck me that this didn’t really sound like something he would have written. So I googled it. Not surprisingly I found that this quote doesn’t come from Goethe…not to mention the fact that the quote isn’t about “bald” guys, but rather about “bold” guys.
Either way, I’m on board…a bold, bald guy!
This is a great quote attributed to Goethe, and I ran across it on a real estate web site. If you look at my picture on my blog you will note that I am bald. So you can imagine how excited I was to see that someone as famous as Goethe had memorialized what I have always known to be true.
However, having sung a lot of German songs set to texts by Goethe, it struck me that this didn’t really sound like something he would have written. So I googled it. Not surprisingly I found that this quote doesn’t come from Goethe…not to mention the fact that the quote isn’t about “bald” guys, but rather about “bold” guys.
Either way, I’m on board…a bold, bald guy!
Georgetown Stats - week of June 7 - 13
According to the MRIS (Multiple regional information Service), the following real estate transactions have taken place in Georgetown real estate during the week 6/7-13.
5 new listings: 4 Single Family (SF) ($1,290,000- $1,650,000) and 1 Condo/Co-op (C/C) ($1,579,000)
6 properties came under contract: 4 SF ($1,299,000 - $1,895,000) and 2 C/C ($459,000 - $539,000)
4 properties went to closing during this time frame: 3 SF ($1,095,000 - $2,475,000) and 1 C/C ($559,900)
5 new listings: 4 Single Family (SF) ($1,290,000- $1,650,000) and 1 Condo/Co-op (C/C) ($1,579,000)
6 properties came under contract: 4 SF ($1,299,000 - $1,895,000) and 2 C/C ($459,000 - $539,000)
4 properties went to closing during this time frame: 3 SF ($1,095,000 - $2,475,000) and 1 C/C ($559,900)
The Zen of home buying
I was running through a light rain last week on my way from my office to the Safeway. As I ran with my shoulders hunched, my eyes squinting, and my head down, it occurred to me that whether I hunched my shoulders or not, I was still going to get equally as wet. So I raised my head, lowered my shoulders and opened my eyes. I did keep jogging along…but the process of getting wet was a whole lot more comfortable…and almost enjoyable. I didn’t particularly enjoy being wet at the Safeway, so that of course, became a different Zen exercise.
So it is with the home buying process. There are going to be bumps along the way between ratifying a contract, and actually going to settlement. Sometimes there will be big bumps, but all of them are like raindrops of stress. (Maybe some are even hail stones of stress!). In any case, even if you do get wet from the stress, you might find the process more comfortable if you acknowledge the near certainty of stressful events, and allow yourself to relax through them. Most of the time your Realtor, your loan officer and/or your settlement attorney will help you figure out how to do that. And if the hailstones get too big…call me!
So it is with the home buying process. There are going to be bumps along the way between ratifying a contract, and actually going to settlement. Sometimes there will be big bumps, but all of them are like raindrops of stress. (Maybe some are even hail stones of stress!). In any case, even if you do get wet from the stress, you might find the process more comfortable if you acknowledge the near certainty of stressful events, and allow yourself to relax through them. Most of the time your Realtor, your loan officer and/or your settlement attorney will help you figure out how to do that. And if the hailstones get too big…call me!
6/08/2010
Georgetown Stats - week of May 31 - June 6
According to the MRIS (Multiple regional information Service), the following real estate transactions have taken place in Georgetown real estate during the week 5/31 - 6/6
7 new listings: 5 Single Family (SF) ($699,000- $1,590,000) and 2 Condo/Co-op (C/C) ($625,000 - $925,000)
4 properties came under contract: 3 SF ($750,000 - $950,000) and 1 C/C ($895,000)
6 properties went to closing during this time frame: 3 SF ($629,000 - $1,150,000) and 3 Condo ($514,900 - $3,200,000)
7 new listings: 5 Single Family (SF) ($699,000- $1,590,000) and 2 Condo/Co-op (C/C) ($625,000 - $925,000)
4 properties came under contract: 3 SF ($750,000 - $950,000) and 1 C/C ($895,000)
6 properties went to closing during this time frame: 3 SF ($629,000 - $1,150,000) and 3 Condo ($514,900 - $3,200,000)
6/03/2010
Let's go to the video!
Here is a link to several videos regarding the state of the real estate market in our area. Take a look at...
6/01/2010
Georgetown Stats - week of May 24 - 30
According to the MRIS (Multiple regional information Service), the following real estate transactions have taken place in Georgetown real estate during the week 5/24 -30
7 new listings: 3 Single Family (SF) ($750,000- $2,795,000) and 4 Condo/Co-op (C/C) ($389,000 - $985,000)
3 properties came under contract: 3 SF ($1,250,000 - $2,195,000) and 0 C/C
5 properties went to closing during this time frame: 4 SF ($579,000 - $4,250,000) and 1 Condo ($499,000)
7 new listings: 3 Single Family (SF) ($750,000- $2,795,000) and 4 Condo/Co-op (C/C) ($389,000 - $985,000)
3 properties came under contract: 3 SF ($1,250,000 - $2,195,000) and 0 C/C
5 properties went to closing during this time frame: 4 SF ($579,000 - $4,250,000) and 1 Condo ($499,000)
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