Valor Development, the team behind the redevelopment of the Fox 5 headquarters in Friendship Heights, filed new plans with DC’s Board of Zoning Adjustment that offer a glimpse into the project that will break ground next year. Valor will deliver a 50-foot-tall building, containing 177 residences, at 5151 Wisconsin Avenue NW. 10% of the residential … Read More
The DC metro real estate market maintained its momentum in July, as interest rates ended the month at 2.99% and unemployment held below the national average. July marked a ten-year high for median sales prices in the DC region, with the median sales price rising nearly 13% year-over-year to $530,000. The previous ten-year high for … Read More
The Montgomery County Planning Board unanimously approved a major overhaul of the Westfield Montgomery Mall, located in Bethesda, that will yield 2.9 million square feet of new retail space and 717 residences. The project is led by developer Unibail-Rodamco-Westfield (URW), which owns the mall. Construction will occur in three phases. The initial phase includes construction … Read More
Following months of closures due to the pandemic, many DC museums are beginning to reopen with enhanced safety measures and capacity limitations in place. Please note that masks are required, and many of these sites require visitors to reserve timed-entry passes; it is recommended that you check each venue’s protocols prior to visiting to ensure … Read More
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
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
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
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
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
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