Washington DC Real Estate & Neighborhood Blog

Apr 25

New Home Sales Revised Higher In February; Slip 7% In March

April 25, 2012 By Justin Paulhamus Leave a Comment

Sales of new homes ticked lower in March, unexpectedly. Based on Census Bureau data, the number of new, single-family homes sold in March slipped 7 percent from February -- the largest one-month drop in more than a year. On a seasonally-adjusted, annualized basis, buyers in DC and nationwide purchased 328,000 newly-built homes last month. The decrease in sales from February to March can be attributed, in part, though, to a massive upward revision in February's figures. Last month, the … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Buyer, Census Bureau, February, New Home Sales, New Home Supply, Real estate economics, Seasonal adjustment, U.S. Housing Market

Apr 24

The Fed Starts A 2-Day Meeting Today. Make A Strategy.

April 24, 2012 By Mark Mlakar Leave a Comment

The Federal Open Market Committee begins a 2-day meeting today in the nation's capitol. It's the group's third of 8 scheduled meetings this year. Mortgage rates are expected to change upon the Fed's adjournment. Led by Chairman Ben Bernanke, the FOMC is a 12-person, Federal Reserve sub-committee. The FOMC is the group within the Fed which votes on U.S. monetary policy. "Making monetary policy" can mean a lot of things, and the action for which the FOMC is most well-known is its setting of … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Ben Bernanke, District of Columbia, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve, Federal Reserve System, Fixed rate mortgage, FOMC, Mortgage loan, washington dc

Apr 18

Single-Family Housing Starts Slip 0.2% In March

April 18, 2012 By Joshua Oliver 1 Comment

Tuesday, the government released its March 2012 New Residential Construction report. The report is made up of three sections, each related to a phase of the "new home" market. The report's first part is Building Permits; the second is Housing Starts; the third is Housing Completions. Of the three sections, it's Housing Starts that gets the most attention from the press -- mostly because, of the triad, it's the simplest for a layperson to understand. However, the manner in which Housing … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Building Permits, Census Bureau, Construction permit, Housing Starts, March, Single-family detached home, United States, United States Census Bureau, washington dc

Apr 17

Homebuilder Confidence Slips 3 Points In April

April 17, 2012 By Jessica Wilkie Leave a Comment

For the first time in 3 months, homebuilder confidence has slipped. As measured by the National Association of Homebuilders, the Housing Market Index dropped three notches in April to a reading of 25. The report measures homebuilder confidence in the newly-built, single-family housing market. When the Housing Market Index reads 50 or better, it reflects favorable market conditions. Readings below 50 reflect unfavorable conditions. According to the scale, not since April 2006 have … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: April, Buyer, HMI, Homebuilder Confidence, Housing Market Index, Mortgage loan, NAHB, National Association of Home Builder, Real estate economics, Single-family detached home, washington dc

Apr 13

Mortgage Rates Fall For Third Straight Week

April 13, 2012 By Mark Mlakar Leave a Comment

After a brief surge north of 4 percent last month, mortgage rates have settled down, near their lowest levels of all-time. According to Freddie Mac's weekly Primary Mortgage Market Survey, for applicants willing to pay 0.7 discount points plus a complete set of closing costs, the average 30-year fixed rate mortgage rate fell to 3.88 percent this week. 0.7 discount points adds $700 to your mortgage closing costs for each $100,000 borrowed. Mortgage rates are down this week on "safe … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: dc, Discount Points, District of Columbia, Fixed rate mortgage, Freddie Mac, mortgage, Mortgage loan, North Central Region, Point (mortgage), Spain, Wall Street, washington dc

Apr 12

What $300k Buys You in Logan Circle, Washington DC

April 12, 2012 By Mark Mlakar Leave a Comment

In Washington DC, we have a sellers' market. Inventory is down and prices are up. This week, we're taking a look at Logan Circle. With dozens of restaurants and shops, Logan Circle has become one of DC's most sought-after neighborhoods. So what does Logan Circle have to offer the first-time homebuyer with a budget of $300k? Today, not much. Currently, only five properties are being offered in Logan Circle at this price point. Let's take a look. 1239 Vermont Ave NW #601 - … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Neighborhood News Tagged With: $300k, Broker, condo, dc, dc home sales, District of Columbia, loft, logan circle, Real estate broker, Residential, Sales, washington dc

Apr 10

Homes Get More Affordable On March Jobs Data

April 10, 2012 By Jessica Wilkie Leave a Comment

Homes Get More Affordable - Unemployment Rate

Americans continue to get back to work. Last Friday, in its Non-Farm Payrolls report for the month of March, the Bureau of Labor Statistics announced 120,000 net new jobs created, plus combined revisions in the January and February reports of +4,000 jobs. The March report marks the 18th straight month of job growth nationwide -- the first time that's happened in 5 years. The Unemployment Rate dipped in March, too, falling one-tenth of one percent to 8.2%. This is its lowest … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bond market, Bureau of Labor Statistics, District of Columbia, Employment, Jobs, Mortgage loan, Non-Farm Payrolls, report, Stock market, Unemployment Rate, United States, Wall Street, washington dc

Apr 09

Build Your Own Rain Barrel To Save Money, Environment

April 9, 2012 By Joshua Oliver Leave a Comment

According to the EPA, during summer months, lawn and garden watering account for roughly 40% of a typical home's water use. It's a statistic that reminds us how "green lawns" can be wasteful to both the environment and household budgets -- especially with drought conditions expected and water costs rising in many U.S. municipalities. As a homeowner in DC , to help Mother Nature and your wallet, consider added a rain barrel to your home. A rain barrel is a rain-capturing system that … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Downspout, Drought, EPA, Garden, Green, Mother Nature, Rain, Rainwater tank, Surface runoff, Water

Apr 04

The Urban Open House Kit : A Closer Look

April 4, 2012 By Dominic Morrocco Leave a Comment

M Squared's Urban Open House Kit makes running open houses a breeze. Let's take a look at the contents: 1 - Personal, lightweight helium tank 16 - Red & white balloons w/ logo 1 - One packet of easy-tie balloon string 1 - Pair of scissors to cut said balloon string 10 - Bottled waters, ready to quench thirst 10 - Inside, easy-mount directional arrow signs for hallways, lobbies and common areas 1 - iPad w/ integrated Bluetooth keyboard for sign-in (runs … [Read more...]

Filed Under: M Squared Company News Tagged With: District of Columbia, ipad, m squared, marketing, open house, open house kit, real estate, technology, urban open house kit, washington dc

Apr 04

Fed Minutes Causes Mortgage Rates To Rise Suddenly

April 4, 2012 By Jessica Wilkie 3 Comments

The Federal Reserve has released the minutes from its last FOMC meeting, a 1-day affair held March 13, 2012. Mortgage rates in District of Columbia are rising on the news. For the un-indoctrinated, 3 weeks after it meets, the Federal Open Market Committee, the sub-group within the Federal Reserve that votes on U.S. monetary policy, publishes its meeting minutes. Similar to the minutes from a corporate event, or condominium association meeting, the Fed Minutes recounts the conversations … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Fed, Fed Minutes, Federal Open Market Committee, Federal Reserve, Federal Reserve System, FOMC, Mortgage loan, mortgage rates, Wall Street, washington dc