Washington Business Journal - 1:05 PM EDT Thursday, May 31, 2007
by Jeff Clabaugh
Staff Reporter
The latest report on housing prices comes from the federal government, and it shows that price gains in Maryland, Virginia and D.C. have outpaced the national average.
The Office of Federal Housing Enterprise Oversight says prices in the first quarter were up an average of 4.3 percent from a year earlier, the slowest pace in 10 years.
But Maryland posted average price increases of 6.37 percent from a year ago and 0.46 percent from the previous quarter. The District had an annual gain of 5.91 percent and a quarterly gain of 0.5 percent. Virginia's increases were 5.42 percent and 0.68 percent.
Compared with other states, Maryland had the 18th strongest gain. The District ranked 20th and Virginia 24th.
The OFHEO does not include actual prices in its quarterly report, only percent changes.
"As always, real estate prices are local with seven states showing double-digit annual appreciation rates and seven with rates of less than 2 percent," said OFHEO director James Lockhart. "Seven states, including California and Florida, also showed home price depreciation in the first quarter."
When price appreciation is measured by metropolitan area, Washington records a 3.65 percent rise in the past year.
Two separate reports this month paint different pictures of Washington-area home prices. An S&P/Case-Shiller report released earlier this week said median prices in Washington are down 4.8 percent in the last year. The National Association of Realtors said earlier this month that Washington-area home prices were 1.2 percent above year-ago levels in the first quarter.
Thursday, May 31, 2007
Feeling Nosy about DC? MD? VA?
Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Friday, May 25, 2007
Feeling Nosy about DC? MD? VA?
Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Thursday, May 17, 2007
Feeling Nosy about DC? MD? VA?
Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
District Home Sales Jump in First Quarter
Washington Business JournalTuesday, May 15, 2007
by Jeff Clabaugh Staff Reporter
Home sales in the first quarter were down 6.6 percent from a year ago nationally, but sales of existing homes in the District jumped 9.3 percent, the second biggest increase in the country.
A quarterly report from the National Association of Realtors also says Washington-area home prices rose a modest 1.2 percent from year-ago levels, while nationally, median home prices fell 1.8 percent to a two-year low. Prices fell in almost half the U.S. cities listed in the NAR report.
The median price of an existing home in the Washington area was $427,800 last quarter, compared with $422,800 a year ago.
The biggest gain in year-over-year median prices was in Cumberland, Md., up 17.1 percent, to $100,000.
Sales in the District were outpaced only by a 20 percent gain in Wyoming, but sales were down 5.7 percent from a year ago in Virginia and down 10 percent in Maryland.
While the numbers look better locally than they do nationally, the National Association of Realtors said the report shows a broad stabilization in the housing market.
"It appears the worst of the price correction is behind us," said NAR President Pat Combs. "More stable home prices and declining mortgage interest rates are increasing buying power, which should encourage potential buyers who've been on the sidelines."
The most expensive market in the nation last quarter was San Jose, Calif., with a median home price of $788,000. The cheapest market was Elmira, N.Y., at $75,300.
Thursday, May 10, 2007
Feeling Nosy about DC? MD? VA?
Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Military Moves Swell Populations in 11 States
Eleven states are about to welcome hundreds of thousands of U.S. military personnel and their families as the 2005 Base Realignment and Closure (BRAC) Commission recommendations take effect.
Eleven states are getting additional troops — Alabama, Colorado, Georgia, Kansas, Kentucky, Maryland, Missouri, North Carolina, Oklahoma, Texas, and Virginia. The population boost will create a need for everything from housing, roads, and schools to services like pizza parlors and dry cleaners.
The Fort Meade area of Maryland expects the troop shifts to generate 22,000 federal and private-sector jobs. Fayetteville, N.C., home of Fort Bragg, expects up to 25,000 new residents.
Columbus, Ga., Mayor Jim Wetherington met recently with the City Council to discuss a bond issue for roads and other needs, such as water and sewers, as Fort Benning anticipates possibly doubling its population.
"This is going to be a pretty big deal for us," Wetherington says. "We think we're going to be ready, but we've got a lot of work to do."
Source: USA Today, Larry Copeland (05/08/07)
Eleven states are getting additional troops — Alabama, Colorado, Georgia, Kansas, Kentucky, Maryland, Missouri, North Carolina, Oklahoma, Texas, and Virginia. The population boost will create a need for everything from housing, roads, and schools to services like pizza parlors and dry cleaners.
The Fort Meade area of Maryland expects the troop shifts to generate 22,000 federal and private-sector jobs. Fayetteville, N.C., home of Fort Bragg, expects up to 25,000 new residents.
Columbus, Ga., Mayor Jim Wetherington met recently with the City Council to discuss a bond issue for roads and other needs, such as water and sewers, as Fort Benning anticipates possibly doubling its population.
"This is going to be a pretty big deal for us," Wetherington says. "We think we're going to be ready, but we've got a lot of work to do."
Source: USA Today, Larry Copeland (05/08/07)
Thursday, May 03, 2007
Feeling Nosy about DC? MD? VA?
Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across that week.
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?
If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!
Tuesday, May 01, 2007
Noise a Top Consideration for Condominium Buyers
The price might be right, the layout spacious, and the commute short, but that perfect condo will be less than ideal if the noise from the upstairs neighbors rivals that jackhammer on the street.
For condo buyers, particularly those exchanging suburban quiet for urban hubbub, what they hear or don’t hear can make a difference in quality of life after they move in, says Mike Komula, an acoustician with Dudek, a California environmental consulting firm that helps builders assess the acoustic qualities of new buildings.
To help buyers learn what living there will be like before they sign a contract, Komula offers the following tips:
Make some noise in an adjacent unit. Have a companion turn on a radio, flush toilets, walk along the floors, and turn on bath and sink taps. Plumbing noise can be an issue when pipes are too small or transmit vibrations through the walls, he says. Check the layout of the floors in multistory buildings. See if compatible rooms are stacked. For example, rather than a kitchen or bath you want another bedroom above your bedroom. Look for dual-paned windows. Dual panes absorb more sounds. “Thicker panes and a wider air gap between the panes will increase sound reduction,” he says. Swap hollow interior doors for solid-core doors.
Quiet Construction
Builders are becoming increasingly cognizant of noise, and they know that “managing noise makes their multifamily projects more attractive to buyers,” says Komula. He recommends asking the builder, if possible, about construction details that enhance noise reduction.
Are the shared walls double walls? Two, rather than one 2 x 4 foot stud wall absorbs more noise by creating an air gap and separating the walls.
How many layers of drywall are on each side? Two layers absorb more noise than one.Do walls and ceilings use resilient metal channels that act as shock absorbers? Does the floor have a lightweight layer of concrete on the top? This adds mass, reducing the transmission of airborne and impact noise.
Additionally, Komula suggests buyers ask about the Sound Transmission Class rating for walls between units and levels, floor-ceiling construction, between units. Most states include a rating in their building codes. California’s minimum is 50. An STC rating of 65 indicates a very high quality in terms of noise reduction.
— By Camilla McLaughlin for REALTOR Magazine Online, April 27, 2007
For condo buyers, particularly those exchanging suburban quiet for urban hubbub, what they hear or don’t hear can make a difference in quality of life after they move in, says Mike Komula, an acoustician with Dudek, a California environmental consulting firm that helps builders assess the acoustic qualities of new buildings.
To help buyers learn what living there will be like before they sign a contract, Komula offers the following tips:
Make some noise in an adjacent unit. Have a companion turn on a radio, flush toilets, walk along the floors, and turn on bath and sink taps. Plumbing noise can be an issue when pipes are too small or transmit vibrations through the walls, he says. Check the layout of the floors in multistory buildings. See if compatible rooms are stacked. For example, rather than a kitchen or bath you want another bedroom above your bedroom. Look for dual-paned windows. Dual panes absorb more sounds. “Thicker panes and a wider air gap between the panes will increase sound reduction,” he says. Swap hollow interior doors for solid-core doors.
Quiet Construction
Builders are becoming increasingly cognizant of noise, and they know that “managing noise makes their multifamily projects more attractive to buyers,” says Komula. He recommends asking the builder, if possible, about construction details that enhance noise reduction.
Are the shared walls double walls? Two, rather than one 2 x 4 foot stud wall absorbs more noise by creating an air gap and separating the walls.
How many layers of drywall are on each side? Two layers absorb more noise than one.Do walls and ceilings use resilient metal channels that act as shock absorbers? Does the floor have a lightweight layer of concrete on the top? This adds mass, reducing the transmission of airborne and impact noise.
Additionally, Komula suggests buyers ask about the Sound Transmission Class rating for walls between units and levels, floor-ceiling construction, between units. Most states include a rating in their building codes. California’s minimum is 50. An STC rating of 65 indicates a very high quality in terms of noise reduction.
— By Camilla McLaughlin for REALTOR Magazine Online, April 27, 2007
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