Real Estate Blog

As of January 1, 2018

  1. No Alarm-battery powered or hard wired-may be older than 10 years from the date of manufacture.

  2. Battery-only smoke alarms must be powered with a sealed, long life battery and have a silence/hush button.

  3. 9-volt battery alarms are no longer permitted.

  4. One alarm must be located on each level of the dwelling, including the basement.

  5. One alarm must be located outside each "sleeping area".

  6. Homes built or renovated after January 1, 2013 one alarm must be placed in each "sleeping room".

  7. AC alarms more than 10 years old must be replaced. 

  8. Hard-wired, AC devices must be replaced with hard-wired devices only.

www.mdrealtor.org

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  • 4.2 % drop in contracts from June 2016.

  • 1% drop in closed sales from June of 2016.

  • 5.2% drop in new listings from June of 2016.

  • Average sales price in June was $545,893 which was flat from last June.

  • Half of the homes sold in June were on the market 13 days or less. 34 days was the average days on the market which was 10 days lower from June 2016.

  • Sellers received an average of 98% of original list price. Supply of homes on the market represents a 2.6 month supply, and anything under 3 slightly favors the seller.

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  • Make sure your bank passwords are strong and different from your social media passwords.

  • Don't sign in to your online bank accounts from a public computer. 

  • When shopping online make sure the web page provides a secure connection by encrypting your debit or credit card information.

  • Always keep your antivirus software and anti-spyware, and password-protect your mobile device.

  • Never respond or reply to any email from what appears to be your bank requesting you to update or confirm confidential information.  (A bank would never ask you to send account information over email). 

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I try and alway use positive thinking during my day. Here are a few bullet points of what I try and focus on and work towards:

  • When I wake up each morning I start my day by thinking of a few positive things happening in my life.

  • I try to administer and acknowledge acts of kindness.

  • Seek out positive and inspiring stories and share them with others.

  • Always look for the good in every situation.

  • Try to only say positive statements during the entire day.

  • Share your efforts with others and ask them to join in as well.

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  • The Washington DC Metro, Maryland and Virginia median sales price of $460,000 was up 7% compared to May of 2016. 

  • THIS IS AN ALL-TIME HIGH FOR ANY MONTH ON RECORD FOR THE DMV.

  • DMV area sales volume was up 9.7% from May 2016.

  • New contract activity was up 4.4% from May 2016.

  • New listing activity was up 8.7% from May 2016.

  • Active listings were down 10.9% from May 2016, 13 consecutive months of decline in inventory.

  • Inventory at the lowest level since May 2013.

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  • March 2017 median sales price was up $21,000 or 5.3% from this time last year.

  • March 2017 was the highest March median sales price in the last 10 years.

  • DC/MD/VA area sales were up 26.7% from last year.

  • New contracts in the area reached a 10 year high.

  • New listings were down almost 2%.

  • Active listings were down 11.5% vs last year but were up 15% vs last month.

  • Inventory has seen an 11 month consecutive decline. 

  • Median days on the market for March 2017 was 15 days, 12 days lower than this time last year.

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                        2016          2017

Avg Sold Price                             $494,907                     $517,511        +4.57%

Units Sold                                    658                              701                +6.53%

Avg Days On Market                     80                                66                  -17.50%

Attached Units Sold                     328                              347                 +5.79%

Attached Avg Sold Price              $332,663                     $326,901         -1.73%

Detached Units Sold                    330                              354                 +7.27%

Detached Avg Sold Price             $656,167                     $704,351         +7.34%

Active Listings    

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  • Do you like working with your hands?

An old house takes a lot of work, tinkering, repair and TLC.

  • How much free time do you have?

If you don't have the free time then you probable shouldn't buy an old house.

  • Do you have flexibility in your schedule to deal with the unexpected?

Things will pop up that you weren't excepting that will take up a lot of time.

  • Do you intend to pay other people to do the work?

Old houses require more maintenance than other homes. Its important to understand how much money you're willing to pay others to do work and what work you're willing to do yourself.

  • Are you a homebody?

Be prepared to spend the entire day in a house project.

  • Is

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  • First time home buyers make up 35% of the housing market.

  • Make sure you look for houses in many different neighborhoods.

  • Don't shy away from being a millennial, look at all types of property, condos, town homes, co ops, etc that you think will fit your needs.

  • Have your financing already in place, make sure you are fully approved before looking.

  • Realize that your first home is not your "forever home" its ok to own a home for a short period of time. 

  • Leverage and use technology to help in your home search. 

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Offered For $929,900

Completely gutted and remodeled in 2007, new pipes, new wiring, new drywall throughout the house, heated tile in kitchen and baths, hardwood on entire main level, walkout finished basement on just over 1 quite acre, sold with or without furniture, fenced back yard with patio great for entertaining, massive two car garage, creek stone driveway, Roof/HVAC/H2O Heater < 10yrs old, full house generator

View Virtual Tour Here

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