Good News for Older Homes in NOVA and DC

Smaller houses are making a comeback away from the giant McMansions that we have seen cropping up in older established neighborhoods. McMansion space is nice -- and so are the features that come with these luxe, gorgeous homes -- but to someone who loves old houses (me) the large homes take some of the charm from original neighborhoods.

This article also offers some great info on staging and making the most of your space -- furniture placement and color play a big role!

http://www.realtor.org/rmohome_and_design/Articles/2010/1002_home_livingsmaller

Arlington, VA Named One of the Seven Most Intelligent Communities!

Wow - in the world. Arlington was selected for its independent identity, high quality of life and key role that it plays in the Washington, DC economy. Another organization lauding Arlington's efforts and underscoring the fact that Arlington is a wonderful place to live!

Check out the link from The Intelligent Community Forum:
http://www.intelligentcommunity.org/index.php?src=news&refno=433&category=Partner%20News

9.4% - Wow that is good news!

Good news for the housing market - we've definitely seen a huge uptick in the Metro DC market - especially close-in and sought-after neighborhoods. Arlington, Falls Church and many areas in Alexandria and Washington DC are strong!

http://www.washingtonpost.com/wp-dyn/content/article/2009/10/23/AR2009102302152.html?referrer=facebook

"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/

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

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

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

Can You Use Your $8k Tax Credit as a Downpayment? Maybe...

This may in fact happen soon! Very exciting stuff for first-time homebuyers. This was announced by Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development during a recent meeting. Check out the link below for the full story and press release.

http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019