DC CLOUT "DC Area Real Estate Buzz"

Washington DC and Suburban Maryland - Real Estate Statistics

From the WP article: Prophets See Light Ahead, but Employment Figures May Drive Market

"First-time buyers have a shot at neighborhoods they have not been able to afford for many, many years,".....

"You can still afford to buy two condos in Prince George's County for the price of one in the District of Columbia," 

"the median price for a home (including both single-family and condos) in Prince George's during October was $260,000, a 14 percent drop over the year...."

"In Montgomery County, prices fell almost 11 percent over the year to a median of $370,000."

"In the District, prices rose a scant 0.4 percent to $394,450"

read entire article washingtonpost.com

What's Your House Worth? Values Up in DC, Down Area Wide

OPEN SUNDAY 12/20 1PM - 4PM Fabulous Logan Circle 2 bedroom 2.5 bath Loft Condo - Close to Everything

$774,900   More than 1500 Sq Ft  2 Bedroom (each with their own private bath)  2.5  baths, Loft den  in the heart of Logan Circle, near everything.  This property is priced to move nearly $225k price reduction. Open House Sunday 12/20 1pm - 4pm

Click Here for All Active Condos Listings in Logan Circle

Open House This Sunday, Dec 20, 2008  at 1213 N St #A NW, Washington, DC 20005    1PM - 4PM  See MAP!!!!   Can't wait call email or  text   Al  at    dcrealtor@live.com   301/452-2278  Fabulous 2-level, loft-style condo with more than 1500 SF, 2 en-suite Bedrooms, 2.5 Baths, loft, patio, gourmet kitchen with all the name brands, 2 level ceilings and some of the most dramatic architecture around.  Features: electronic alarm, secure entry, gourmet kitchen, wood flooring, granite counters, cathedral ceiling and more

The Walk Score for 1213 N St  NW is 92 on a 100 point scale.  Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc.

Take a look...                                 Click Here for All Active Condos Listings in Logan Circle  Visit DC's Condo Guy website

Now is the time to buy

Stop second-guessing the bottom of the market.

From The New York Time this week "that moment is centainly closer" and you don't want to "look in the rearview mirror and realize that we missed a golden age for first-time buyers."

These opportunities available today are unlike anything buyes have seen before.

*Home prices have dropped drastically from peak levels in or area.

*30 year fixed mortgages are about 5.5%

*Prices always soften in the winter..

*$7,500 income tax credit

And first time buyes have a distinct advantage with no home to sell.

Click here to read entire NYT article

It's time to start have a serious conversations about this stuff. Not a sales pitch to "buy now" but a discussion about how to make a smart investment.

Al Matlock DC/MD realtor   dcmdrealtor@live.com    301/452-2278

Create an Action Plan for an Easy Move

The key to an easy move is careful planning. There are many action items that need to be taken prior to the move all the way up to the actual day the first box is loaded on the moving truck. Take time to write down and organize the decisions and activities that will need to be accomplished prior to the move such as securing a mover and changing your address. Ideally, you should try to break up the tasks over a two-month period. By doing so, you won’t overload your schedule, plus it can save you time and money.  To get you started, consider using the checklist below as a guide.

Eight Weeks Prior

• Get estimates from at least three professional movers. If you are going to do it yourself, get estimates on rental trucks.
• Decide which furniture and household goods you’ll be taking, which needs to be disposed and which needs to be replaced.
• If you will be moving to a new city, contact the Chamber of Commerce of that town for a new residence packet. Your sales professional may also have information.

Six Weeks Prior

• Inventory your possessions besides furniture – kitchenware, decorative items, electronics, apparel and so on.
• www.MoversGuide.com for a minimal cost of $1. Make sure you notify organizations, credit cards companies, and publications to which you subscribe of your new address, too. Complete a change of address form with the post office. This can be easily done online at
• Obtain copies of all medical, dental, legal, accounting and veterinarian records.
• If children are changing schools, arrange for transfer of educational records.
• Itemize moving-related costs with the mover including packing, loading, special charges and insurance.

Four Weeks Prior

• Make arrangements for packing your belongings. If you will be using professionals, schedule with the company for packing to take place a day or two before the move. If you will handle packing on your own, purchase adequate boxes, packing materials and tape.
• Arrange for short-term or long-term storage if needed.
• Make travel arrangements for pets including necessary medical records, immunizations, medication and so on.

Three Weeks Prior

• Begin packing items you won’t need immediately or that will go into storage.
• Contact utilities on both ends of the move to order termination or turn-on for occupancy date.
• Confirm travel arrangements for family and pets.

Two Weeks Prior

• Terminate newspaper and other delivery services.
• If necessary, arrange and confirm new bank accounts and local services in your new neighborhood.

One Week Prior

• Gather important papers, records, and valuables for protected shipment to new home or safe deposit box.
• Obtain any prescription medications needed for the next few weeks.

Day Before or Actual Moving Day

• Defrost refrigerator/freezer and give away all perishable food.
• Keep a box marked “Last Box Packed/First Box Unpacked” for tools, flashlights, first aid kit and so on. On moving day, this should be the last box placed on the truck.
• Pack items to carry with you such as valuables, financial records, personal papers and so on. 
• Give the movers a telephone number and address to reach you.

Al Matlock  DC/MD Real Estate Professional

Washington DC Condo Sales for November 2008 by price

November  2008

Price Range Units Sold   Under $100,000 3   $100,000 - $199,999 14   $200,000 - $299,999 29   $300,000 - $399,999 33   $400,000 - $499,999 25   $500,000 - $599,999 19   $600,000 - $699,999 8   $700,000 - $799,999 0   $800,000 - $899,999 1   $900,000 - $999,999 3   $1,000,000 - $2,499,999 1   $2,500,000 - $4,999,999 0   Totals 136 CourtesyDC Condo Guy

November 2008 Home Sales Statistics for Washington DC

Washington DC  Home Sales Statistics are in for November 2008. Here's a brief snippet- more details coming.....  The 1st numbers are for 2008/2nd number for 2007/3rd change percentage 

Average. sold price $510,641 - $533,616  (-4.31%)
Total Units Sold - 313 - 457  (- 31.51%)
Of that 313,  136  were condos/coop
Average sold price Condos - NA

Avg. Days on Market  75 - 68   (10.29%)

For Washington DC Home Sales Statistics by zip code click here  Also compare stats for 2007, 2006, 2005

source Mris

November 2008 Home Sales Statistic for Prince Georges County

The Prince Georges  County Home Sale statistics are in for November 2008. Here's a brief snippet- more details coming.....  The 1st numbers are for 2008/2nd number for 2007/3rd change percentage

Average. sold price $264,885  - $314,577  (-15.80%)
Total Units Sold - 333 - 418   (-20.33%)
Of that 333, 46 were condos
Average sold price Condos - NA - NA (0.00%)
Avg. Days on Market - 141 - 103   (36.89%)

source mris

courtesy Al Matlock real estate professional Washington DC and Maryland - Realtor

November 2008 Home Sales Statistic for Montgomery County

Montgomery County Home Sale statistics are in for November 2008. Here's a brief snippet- more details coming.....  The 1st numbers are for 2008/2nd number for 2007/3rd change percentage

Average. sold price $425,742 - $518,474    (-17.89%)
Total Units Sold - 528 - 587  (-10.05%)
Of that 528, 113 were condos
Average sold price Condos - NA

Avg. Days on Market - 106- 99  (7.07%)

Compare 2007/2006/2005  Real Estate Statistics for Montgomery County Maryland and Washington DC click here

source mris

courtesy Al Matlock real estate professional Washington DC and Maryland - Realtor

HPAP Update

Stay Informed:  Things are changing rapidly. To receive HPAP updates  click here.

From The Wire

The rountable, to be held at 11 a.m. by the Committee on Housing and Urban Affairs, which Barry chairs, will feature up to 30 witnesses. Some will testify about the benefits of the program, known as HPAP, and others are expected to testify about the city’s need to suspend it. HPAP provides up to $70,000 in individual loans that help low- and moderate-income applicants purchase homes they can’t otherwise afford.

Barry’s constituents benefit greatly from HPAP, and he’s convinced that his council colleagues didn’t comprehend the impact of their action. At the roundtable, participants are expected to say that without HPAP, some 400 people in the application process cannot get help to buy homes. As a result, developers who got government tax breaks to add affordable housing units to townhouses and condominiums will not be able to sell them, perhaps through next year. This would happen amid a housing crisis and a recession where banks are very reluctant to extend credit.

In blogs and letter-writing campaigns, applicants have challenged the freeze.

I regret not being able to inform you of this very important meeting, but I only learned of it minutes before it began…  It appears we now have an advocate, Council Member Marion Barry.

In the mean time continue your  calls, letters and emails. 

It was a lively discussion. Pledges were made. I expect changes very soon. As soon as new information becomes available it will be published here. 

Al Matlock  DC/MD Real Estate Agent