Fall Brings ConfusionDC Metro home buyers may be expecting interest rate reductions and new broker compensation mandates, but those aren't the only changes they'll encounter this fall.New rules for touring homes are also in effect, visiting open houses may feel different, and the options for ministerial acts agents may provide to unrepresented buyers could become increasingly limited.Here's what you need to know if you're planning to purchase a DC or NVA home this fall or winter.Buyer Agency Agreements & TouringAs most prospective homebuyers are now likely aware, August 17th ushered in changes to real estate practices as a result of NAR (National Assoc. of Realtors) class action settlements, MLS participants now require a signed agreement before an agent can show homes.Is that totally n... 08/25/2024

Back at it again with another market update in the DC Metro area this week! Guess what - prices are rising, and together with that, new contracts are being signed compared last year.With a 3.2% jump from last week, the median list price soared to $415,000 in the Bright MLS service area, a 7.8% increase from the same week last year. Historically, list prices have jumped at the beginning of fall, but this year the bump in prices happened earlier.New contracts are hovering just above last year's level.There were 5,812 new contracts in the Mid-Atlantic for the week ending August 18, which is 4.3% higher than the same week last year. Southern Maryland is the only region to not have a small uptick in new contracts over last year for this week.If you have any questions about buying or selling ... 08/20/2024

I’m excited to share that I’ve been named one of Washington, DC’s Top 100 Elite Producers Platinum for 2024! This is a huge honor and shows my commitment to helping people with their real estate needs.This recognition wouldn’t be possible without the trust and support of my clients and community. You’ve helped make this achievement a reality, and I’m incredibly grateful.Real estate is more than just buying or selling homes—it’s about finding the perfect place to make memories. If you’re thinking about moving or just curious about your options, let’s connect and explore how we can make your dream home come true. 08/13/2024

BUYER AGENCY | WASHINGTON DCHere's the 'plain and simple' of buyer agency in DC real estate under the new system resulting from the NAR class action lawsuit settlement. It's clunky, but not game-changing. The market is still the market, influenced by inventory, mortgage interest rates, general economic conditions, and election years.Read about it here 07/29/2024

Don't believe the wild claims about "the end of 6% commission" in real estate.Unreliable Internet sources misled the public when they claimed that the cost of representation for real estate transactions was mandated to drop due to the NAR class-action lawsuit settlement. In fact, the settlement does not relate at all to the cost of representation, just the method used in communicating cooperation and deciding who's paying buyer broker compensation.Learn morehashtag#brokercompensation hashtag#narsettlement hashtag#dcrealestate hashtag#dcrealestatecosts hashtag#payingyourdcagent hashtag#cooperativeompensation hashtag#buyerbrokercommission 07/29/2024

Wondering what's trending in the housing market right now? Grays are OUT, and a neutral palette with a pop of color is IN! With summer in full swing, homebuyers are loving that fresh, indoor-outdoor vibe. Natural light and a welcoming atmosphere are key to creating a space that feels inviting and vibrant.A neutral color scheme provides a versatile canvas, allowing homeowners to add personality with bold accent pieces. Think soft beiges, warm whites, and taupes as your base, complemented by pops of color like vibrant blues, rich greens, or even sunny yellows. This approach not only enhances the natural light but also creates a seamless transition between indoor and outdoor spaces.Whether you’re preparing your home for sale or just looking to refresh your living space, embracing this tren... 07/15/2024

Washington DC home inventory went up. Home prices went up. Volume went down.CPI went down. PPI went up. Mortgage rates went down.Confusing?Mortgage News Daily published an article yesterday explaining some of this seemingly contradictory data:"Did you know: the normalization of house price appreciation in today’s market is the result of ‘higher-for-longer’ mortgage rates reducing affordability and slowing demand, but it’s also driven by the increase in the number of homes for sale? It’s true! In case you missed it, First American Data & Analytics recently released its May Home Price Index (HPI) report where you can receive the most current insights into home price changes at the national, state, and metropolitan CBSA levels. In this report, First American Chief Economist Mark Fleming sa... 07/13/2024

The real estate landscape in the Washington DC Metro Area has been notably dynamic, especially in 2024. Combining historical allure with modern developments, the DC area presents distinct challenges and opportunities for home sellers. Among these, choosing to sell your home as a For Sale By Owner (FSBO) can be appealing, mainly due to the potential savings on commission fees. However, navigating the FSBO landscape requires a deep understanding of the market, strategic pricing, and effective marketing.Are you wondering, "How can I sell my house in DC?" This detailed guide will outline the crucial steps and effective strategies for enhancing your likelihood of a successful home sale in the DC Metro Area. Whether you're a seasoned homeowner or a first-time seller, these insights will equip... 06/20/2024

Our weekly market report is finally here! What's in store for this week? Let's all check out the real estate market situation in the DC Metro area below.ListingsNew listings are up compared to a year ago. Historically, this week usually sees a dip in new listings, but listing activity was up compared to the same week in 2023.Days on MarketHomes are staying on the market longer. The median time to contract is slower by one day this week with the exception of the Maryland/West Virginia Panhandle, the median time to contract increased compared to a week ago in all regions.List PriceThe overall median list price is up 1.2% from the previous week and a 6.2% jump compared to last year. However, list prices fell in certain regions. Despite the overall increase a few metro areas such as Washing... 06/04/2024

Ever had an appraisal come in really low, or return puzzling results? If so, you know how difficult it is to raise a challenge and win a correction. Or it used to be. Just in time for commission changes and potential rate cuts late this summer, HUD, FHA and GSEs Fannie Mae and Freddie Mac have announced a new appraisal review policy.HUD (U.S. Dept. of Housing & Urban Development), FHA (Federal Housing Administration), and GSEs (government-sponsored enterprises) Fannie Mae & Freddie Mac will allow borrowers the opportunity to request a re-assessment of the appraised value of their property if they assert an error was made or bias entered into the process.The 'Reconsideration of Value' policy equires lenders to disclose to borrowers that they may request a reconsideration of value, and to... 06/01/2024

Thinking about renovating your home? Some people are quick to do upgrades such as adding a pool, or getting one of those gazebos but not having enough space, or things like indoor neon signs. If you're kind of lost as to what needs upgrading to increase your property's value, here are some of the best ones to check out:1. Upgrade KitchenAlmost every buyer heads to the kitchen as the first thing they want to see when buying a home. If you want to stand out, install high-end appliances, use premium materials like quartz or marble countertops, and add custom cabinetry for a sleek, functional space.2. Modernize InteriorsOpen up the floor plan, upgrade to hardwood floors, and incorporate smart lighting and home automation for a contemporary feel.3. Get a Bathroom UpgradeCreate a spa-like ret... 05/28/2024

Let's talk about the market this week in the Northern Virginia and the DC Metro area!Price adjustments, rising inventory, lack of power pool, open house, quieting down - these are the signs that we are seeing a little bit of a shift or slowdown in the DMV housing market, especially in Northern Virginia.In areas like Fairfax, Loudoun, and Prince William, the changes have been most noticeable over the past couple of weeks since Mother's Day. However, is the market going to shift significantly? Not really.For price points such as first-time home buyers under $650,000 and single-family homes between $900,000 to $1.2 million, we are not seeing a slowdown. Multiple offers are still common in these ranges. However, interest rates are improving.If you are a home seller, this is still your oppor... 05/21/2024

  On Tuesday I attended the NAR mid -year legislate meetings, trade show and then joined the Maryland FPC - (Federal Political Coordinator)  team for the 2024 Hill visits.  My morning started by jumping into rush hour traffic to the Shady Grove Metro station. I arrived at the convention center and wandered around the trade show before meeting the other FPC's to take a bus to Capital Hill.  Our group from Maryland was divided up based on the representatives from our specific districts. Our group visited Congressman David Trone of the 6th district in Maryland. After going through security in the Rayburn Building we made our way to Congressman Trone's office where we were able to discuss the NAR priorities with his Staff. We each took turns sharing experiences and explaining why each of ou... 05/08/2024

Mother's Day is such an important day to me, not only because I myself as a mother but to celebrate all women out there who strive to be a better loving figure in and out of their homes, becoming the best moms they strive to be. So to all amazing moms out there, this one's for you!I'm thrilled to announce a special giveaway! One lucky mom will win a $150 Visa gift card to treat herself to a spa day! Because let's face it, moms deserve ALL the pampering in the world!To enter the event, like or comment on this post,and tag a fellow supermom who deserves a spa day too! Each tag counts as one entry.Giveaway is drawn on Friday, May 10th, so make sure to get your entries counted. Happy Mother's Day! 05/08/2024

Cleveland Park really has it all. There is a Metro Station, the National Zoo, and lots of interesting neighbors. It's got some wonderful old houses, a few dating back to the 1700's.  Most were built to allow the citizens of Washington to get away from the hot, humid capitol with its heat, humidity and especially aggressive mosquitos. Some are Victorians and others Queen Ann. There are many architectural details. like turrets, gables, and gingerbread. There is nothing cookie-cutter about this neighborhood.    Houses: There are only two for sale right now - the good ones fly off the shelf in about a nano-second: View Listings  One is listed for $2875,000. It's situated on a heavily wooded lot surrounded by parkland, and it's new construction by Washington standards, built in 1989.  The ot... 05/05/2024

Zillow Introduces Non-Exclusive Touring Agreement Hoping Agents Will Work Free To Support ThemThis week, Zillow published a 'non-exclusive touring agreement' for home buyers and agents, with the suggestion that the real estate industry adopt it as a model for such agreements nationwide. It guarantees that agents will not be paid for consultation with buyers regarding specific properties, and assisting buyers in locating and touring properties. The agreement also states: "In connection with providing the Touring Services, Broker shall adhere to any and all non-waivable duties required under applicable state law for real estate brokers working with a consumer in a non-agency capacity."The term of the agreement is 7 days. Buyers are free to sign as many of these agreements as they like, co... 05/03/2024

Let's jump right into the latest scoop on the DMV housing scene. Things are buzzing across the board, with condos taking a breather. The snag? Interest rates are giving buyers a run for their money, but the luxury market ($1.2m to $1.5m) is still sizzling, from cash deals to hefty down payments.Who's in the mix? Many buyers are cashing in on equity or upgrading to dream homes. Surprisingly, 39% of homeowners nationwide are mortgage-free, eyeing luxury digs.Hold tight - Fannie Mae predicts a steady 6% interest rate ahead. Waiting for a dip? Don't hold your breath, at least for 2024. Meanwhile, median home prices are soaring, and days on the market are ticking away.But here's the kicker - inventory is on the rise. Options aplenty for buyers, though properties fly off the shelves, often by... 04/24/2024

Here is the DC area, many buyers steer away from cooperative buildings. Usually it has something to do with the ground rules for living in the complex. Oh, and there is also a usually pleasant meeting with to members of the coop Board who must approve your purchase. Still, some of the most desirable units in the area are located in coops, and most are worth the potential hazards inherent in the process for buying. Some of my favorites include Tilden Gardens, The Westchester, The Broadmoor and the iconic Watergate - and there are many more. Right now, there are 100 coops for sale in Northwest Washington, with prices ranging from an affordable $135,000 for a 525 square foot 1-bedroom near Logan Circle, to a high of $3,795,000 for a 4,640 square foot duplex penthouse in the Watergate.  Her... 04/24/2024

Breaking Down Changes In Real Estate Commission Practices | Washington DCNAR (The National Association of Realtors) agreed recently to a $418M settlement and mandating of changes to key policies as part of its resolution of multiple class-action lawsuits. The jury in the Missouri Sitzer-Barnett case ordered the defendants to pay almost $1.8B in damages — potentially $5B+ if the court awarded the plaintiffs treble damages. NAR's settlement agreement likely saved the organization from bankruptcy, but where does it leave home buyers, agents and home sellers?The policy changes agreed to by NAR include the prohibition of publishing offers of broker compensation on any MLS (Multiple Listing Services) databases affiliated with the NAR. That leaves the country divided between affiliated service... 04/19/2024

Attention: another market shift happening in the DC Metro area! This has been recently happening, especially in areas like Northern Virginia, including Arlington, McLean, and Vienna.Previously bustling with activity, we're now observing a significant slowdown. Homes that used to attract multiple offers within days are now lingering on the market. This is good news and all if you're a buyer sick with multiple offers, but the interest rate isn't exactly going to help you.Interest rates are currently hovering around the low sevens, and some lenders are even offering rates below seven with a point. Due to these rates, the overall market is experiencing a slowdown.Sellers' agents are reaching out for feedback, wondering why potential buyers aren't biting. If you're in the market for a long-t... 04/17/2024