"State of the County" - Arlington, VA

So glad we attended Arlington's State of the County presentation this morning! Lots of great information on how well Arlington - and surrounding jurisdictions are weathering the recession. We certainly are glad we live and work in this area!

Some tidbits from today's presentation:

• Arlington's unemployment continues to be incredibly low (hovering around 4%)
• Residential real estate is strong and has plateaued but not seen large value decreases as some areas of the outer suburbs have
• Received a AAA bond rating -- and is 1 of only 20 counties in the nation to do so

Arlington will continue to invest in affordable housing, green initiatives and human services -- while maintaining a committment to transit issues (a must in this congested area!).

Arlington, and neighboring jurisdictions, seem to be weathering the recession much better than most of the country. Everyone is hoping for brighter days ahead -- but it is nice to know that when the skies are grey that we weather the bumps well.

The Eternal Question - "Have We Hit Bottom?"

The close-in DC market has seen many of these 'up ticks'. Have we turned the corner? I don't have a crystal ball but there are a lot of buyers and the inventory is down - especially inventory that is not distressed. See attached link and story from RisMedia.

The only way to judge the 'bottom' is when the markets are headed up again - real estate is a long-term investment and guaging the market for the 'bottom' or the top is impossible. Economists, real estate professionals, appraisers - anyone 'watching' the real estate market can share trends and good information but long-term trends are the most accurate when looked at historically.

Now is a great time to buy - especially for first-time homebuyers with the $8k tax credit - now that is some incentive!

http://rismedia.com/2009-06-23/have-we-reached-bottom-10-factors-to-consider/

Looking for Something to Do in Our Nation's Capital? Check this out!

New in town or just looking for something new and different to do? Be in the know and find out what is going on in and around 'our town' this weekend -- or any time! This website is an exhaustive research of DC happenings - check it out!

http://www.culturecapital.com/

Article on Regions Economic Forecast - The Washington Post

Another article on our local economy and market. There are opportunities for home buyers -- especially first-time buyers! -- in this economy. This article illustrates that there is always a silver lining or the glass is half full (we hare half-full kind of folks) in any market. We believe much of the housing drag in this market is from outlying areas (this article specifically mentions Prince William and Prince Georges Counties - and the statistics back this info up). All real estate is local and even neighborhood by neighborhood.

Bottom line, our local economy has a strong base and the jobs will carry us through this recession.
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/16/AR2009061603311.html

Cities with Tech Bases to Recover from Recession More Quickly

Interesting article (source Forbes) - makes sense in our techie world. The Metro DC area has a pretty solid tech base -- largely in Northern Virginia -- so we were heartened that our area made the 'top 10'.

http://bengelblog.com/2009/06/16/cities-quickest-to-recover/

We Represent You & Your Interests - Always.

This is a great article from this weekend's Washington Post 'Real Estate' section. It is a great article. Our market in DC receives a lot of press, and while we primarily work close-in neighborhoods, which have always been desirable, we recognize that there are a lot of distress sales in our 'metro' area. Boy, is that a large expanse -- millions and millions of people and homes.

By and large the close-desirable neighborhoods are stable -- but as the old adage goes "location, location, location". Real estate is a neighborhood business -- one neighborhood could be incredibly desirable and you head over a few blocks and this factor changes. These forces are at play for pricing homes and the amout of traffic you see when a home goes on the market

Now is a good time to be a first-time homebuyer. Rates are great and the $8,000 tax credit sure is a nice perk. Looking to sell, well, that it really depends the situation whether we would tell you to wait or to when to jump in.

We represent you and your best interests. If we don't think it is in your best interest to sell or buy, we'll tell you why and give you advice and options.

Timing and location are everything.

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR2009061201729.html

Arlington's Own Lyon Park Featured in the Post's 'Where We Live' Column

Great press for one of Arlington's prettiest neighborhoods. Arlington has so much to offer residents and Lyon Park is a great example of Arlington's walkability and Metro-accessible neighborhoods.
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR2009061201739.html

Fun Friday - What a spoof on Arlington!

This is so much fun - we just had to post it. TGIF!

http://www.youtube.com/watch?v=4T1RMuoQnKo

Pending Home Sales - Up, Way Up!

The local market has picked up considerably. The attached link offers supporting stats. We're seeing many homes selling quickly (in a week) with multiple offers -- this is definitely driven by neighborhoods and price points. Desirable neighborhoods - Arlington, VA; Del Ray in Alexandria and Dupont/Logan Circles - are attractive when the market is up or down - people often make lifestyle choices to live 'close in' to the city and be in walkable neighborhoods.

As we've said before - it is a very good time to be a first-time home buyer!

http://bengelblog.com/2009/06/02/pending-home-sales-increase/

Washington DC Market Makes Forbes 5 Best List

Lists are lists, but you have to love it when your market comes out on the 'best' list. We sure do.

We have definitely noticed an uptick in the market in 2009 to date -- in fact we have seen many multiple contracts, bidding 'wars', etc that harken back to the 'height of the market'. We wouldn't say we're going to see the huge increases in home values, but the inventory is drying up a bit - and that will make a more stable market for the remainder of 2009 and into 2010.

Read on...http://realestate.msn.com/article.aspx?cp-documentid=18080758