DC Real Estate Market Update: June 2020

July 20, 2020Real Estate & Local News

June marked a record high for DC-area home sales, with 6,046 pending sales for the month, up 17.7% from May, marking the highest level for pending sales in a decade. The number of newly listed homes rose 16.2%, and total active listings fell roughly 5.0%. With inventory levels remaining constrained, the median price of homes … Read More

The CARES Act – Resources for Homeowners

July 13, 2020Real Estate & Local News

If you are unable to meet your mortgage obligations due to COVID-19-related circumstances, notify your mortgage lender or servicer as soon as possible to discuss your options. Check your most recent monthly statement for your mortgage lender or servicer’s contact information. Homeowners with reduced income may qualify for mortgage relief under the federal Coronavirus Aid, … Read More

D.C. Real Estate Market Update

July 9, 2020Real Estate & Local News

Housing market activity picked up in the D.C. area in May, with the number of homes that went under contract rising nearly 34% from April, and the number of new listings increasing more than 12%. Compared to May 2019, pending sales and new listings are 7.5% lower, but the acceleration of activity suggests buyer and … Read More

A Message to Our Valued Clients

March 19, 2020Real Estate & Local News

To Our Valued Clients and Friends: In this time of uncertainty, our team is hoping first and foremost that everyone remains safe and healthy.  We are actively monitoring the COVID-19 situation and taking steps to continue serving our clients with the utmost vigilance and care. We would like to let you know that there are many steps … Read More

Developer Breaks Ground on Alexandria Senior-Living Community

March 10, 2020Real Estate & Local News

Silverstone Senior Living has broken ground on a new luxury senior living community at 2620 Main Line Boulevard in Alexandria’s National Landing, near Amazon HQ2. The project is a $100 million development spanning 216,000-square-feet, including 163 apartments for independent and assisted living. Located on 1.4 acres in the Potomac Yard section of National Landing, the … Read More

How DC Property Assessments are Changing

March 8, 2020Real Estate & Local News

DC’s Office of Tax and Revenue has sent new property assessments to homeowners in the city, and the proposed average residential increase is 3.46%, with significant neighborhood to neighborhood variation. The proposed increase for commercial properties is 3.92%. The assessments are slated to rise the most in Wards 7 and 8, east of the Anacostia. … Read More

Average Apartment Rents Across the DC Area

March 1, 2020Real Estate & Local News

Apartment rental rates vary considerably across the DC region based on a breadth of factors including amenities, access to public transportation, and individual neighborhood. Based solely on jurisdiction, Bethesda currently has the DC metro area’s most expensive rents, according to an analysis by apartment search site RentCafe. The average apartment rent in Bethesda is $2,466 … Read More

Report Highlights State of DC-Area New Condo Market

February 25, 2020Real Estate & Local News

Condominium sales and marketing firm McWilliams Ballard has released a new report aggregating DC condo sales and pipeline information from 2019. According to its findings, there was a 12% year-over-year increase in DC-area new condo sales and 20% year-over-year increase in new condo sales in the city proper. In Loudon County, year-over-year sales were up … Read More

New VA Loan Program Goes into Effect

February 23, 2020Real Estate & Local News

In January of this year, a new law governing mortgages backed by the Department of Veterans Affairs went into effect, allowing those using VA loans to borrow any amount of money (as long as they qualify) with no down payment. Zero-down payment loans were previously capped at the same level as conforming loans. Many loans … Read More