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 this 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!)

Some Good News on Previously Owned Homes Sales

Sales of previously owned homes rose more than expected in April, though the pace of sales remains below year ago levels.

The National Association of Realtors says existing home sales rose 2.9 percent from March to an annual pace of 4.68 million units. The biggest jump in sales last month was the market for condos and coops, up 6.4 percent from March.

"Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish," said NAR chief economist Lawrence Yun. "The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program."

The number of first time buyers declined to 40 percent in April, a sign that NAR says indicates more repeat buyers are getting back into the market. And the number of people actively looking for a home to buy is up 14 percent from a year ago.

Foreclosure sales get some of the credit for the increase in existing sales. But so do other factors working in favor of the housing market.

Mortgage rates remain historically low, with the average rate on a 30 year fixed-rate mortgage below 5 percent for 10 straight weeks, according to Freddie Mac (NYSE: FRE).

The NAR also believes the $8,000 first-time homebuyer tax credit will lift sales this spring.

Even so, there are a lot of homes for sale out there. NAR figures show the number of existing home currently on the market nationwide rose 8.8 percent in April to 3.97 million. That represents a 10.2 month supply, NAR says.

Source: National Association of Realtors

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 this 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!)

Green Building Institute

Are you interested in classes on how to make your building or home more eco-friendly, incorporating things like rain barrels and solar energy? Then you need to check out the Green Building Institute at www.GreenBuildingInstitute.org.

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 this 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!)

Signs of Recovery!

The Washington area's housing market showed signs of recovery in the First Quarter 2009 with home sales up 15%. Learn more about the Mid-Atlantic real estate market with this special video commentary created especially for consumers by MRIS and Delta Associates. Check out this video to learn more.

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 this 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!)

Capitol Hill Restoration Society Annual House and Garden Tour This Weekend!

52nd Annual House and Garden Tour

Saturday, May 9th between 4 and 8 p.m.
Sunday, May 10th between 11 a.m. and 5 p.m.

Tickets are $30 on Tour days.

On Saturday from 4 - 7 and on Sunday from 11 to 4 tickets may be purchased with cash or check in front of Hill's Kitchen on D Street on the south side of the Eastern Market Metro Plaza.

The Capitol Hill Restoration Society (CHRS) will host its 52nd Annual House and Garden Tour on May 9th and 10th, 2009. Highlighting the Barrack’s Row neighborhood, the Tour is planned to include homes and gardens south of Pennsylvania Avenue between 1st and 15th Streets, SE. The event will include a candle light tour of homes from 4pm-8pm on Saturday, May 9th and will continue from 11am-5pm on Mother’s Day, Sunday May 10th. An extra hour has been added to the Saturday night tour in order to allow plenty of time for participants to appreciate The Home of the Commandants’ at Marine Barracks Washington, which will be open to Tour goers on Saturday only. The stately Commandant’s house, completed in 1806, is the oldest continuously occupied public building in Washington, D.C. Its location (at present-day 801 G St., SE) was chosen personally by President Jefferson and Lieutenant Colonel William Ward Burrows, the second Commandant of the United States Marine Corps.

CHRS is the oldest and largest civic organization on Capitol Hill. Founded in 1955, this volunteer driven group is dedicated to preserving the historic residential character of the nation’s Capitol. 52 years ago, CHRS started the house and garden tour tradition to highlight Capitol Hill landmarks and to raise funds to support projects to preserve the neighborhood’s historic character and to enhance its livability through efforts in planning, zoning, traffic management, and public safety.

Learn more about the tour and the organization at www.chrs.org.

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 this 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!)

Composting the Easy Way with Wooden Shipping Pallets!

Now that spring has arrived and people are able to get back in their yards I have been asked about everything from composting to rain barrels to bird feeders. Today I want to talk about a cheap and easy way to create a compost bin out of 5 wooden shipping pallets. If you are interested you can click HERE for a 2 page instruction manual provided by Montgomery County's Department of Environmental Protection. Click Here to learn more about that department.

Not sure where to get wooden shipping pallets? You can buy them for just a few bucks each at Community Forklift. Check out Community Forklift at http://www.CommunityForklift.com.

Rain Garden and Worm Composting Workshop
Sunday, May 17, 2:30 to 5:30 p.m.

Learn what rain gardens are, how they are maintained, and why we need more. Then, find out about composting indoors with worms! The Montgomery County Department of Environmental Protection will discuss how to successfully set up and maintain worm bins for turning your food scraps into black gold for your garden. Advance registration is required. More information HERE.

Please feel free to contact me at Michael@RealAstute.com or 202-369-9821 with any questions!

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 this 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!)

Math Smiles on Move-Up Buyers

Moving up in today's dismal housing market can be a financially shrewd maneuver, real estate agents across the country are telling their clients. MSNBC.com's Mike Stuckey reports on the topic - to view the full article, CLICK HERE.
















As always, if you are thinking of buying or selling or just want to talk about market conditions, please feel free to contact me at Michael@RealAstute.com or 202-369-9821.

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 this 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!)

Thinking of Refinancing, Visit MakingHomeAffordable.gov

Many of our clients have been calling and emailing our team to ask if we have information about President Obama's plan to help homeowners with less than 20% equity refinance their homes. The government has set up a very helpful website to get you started if you have been asking that very question. Visit www.MakingHomeAffordable.gov and follow the easy to use questionnaire to see if you may be able to refinance and take advantage of record low rates, regardless of your home's equity.

As always, if you are thinking of buying or selling or just want to talk about market conditions, please feel free to contact me at Michael@RealAstute.com or 202-369-9821.

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 this 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!)

Today's Economy is Good News for State Projects and Programs

Many construction firms are so eager for work in this economy that the state is finding more bids and lower prices are rolling in for projects.

This is GOOD news for residents, as state and local governments are able to complete more projects than originally anticipated, and FOR LESS!

This means more community improvements, roadways, etc.!

Read the full article by Eric M. Weiss, Washington Post Staff Writer HERE.

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 this 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!)

Save the Date! Free First Time Home Buyer Seminar

Contact Michael@RealAstute.com for more detailed information!

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 this 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!)

Finally Some Good News!

Hey, did you hear? We finally got some good news in the real estate biz! New-home sales rose in February for the first time in seven months! This is of course fueling speculation of “THE BOTTOM” and when we will hit. It is hard to tell, it sure feels like a bottom to those of us in the biz. No doubt, with interest rates so low and prices down so significantly, it is a GREAT time for be a buyer. I found a good piece in the Wall Street Journal where some economists try to determine if we have hit bottom yet:

Wall Street Journal
March 25, 2009, 1:35 PM ET
Economists React: ‘Has Housing Hit Bottom?’

• Has housing hit bottom? It is much too soon to make this call. Recent housing numbers were influenced by weather. December and January were colder than normal in the Northeast and Midwest, and February was warmer than normal in the Northeast, and about normal in the Midwest. Temperature swings will swing the housing numbers, and the seasonal adjustment factors will augment these swings. On top of this, February was the eighth driest February in the 1895—2009 period, according to the National Climatic Data Center, the government agency within NOAA that monitors climate. Drier than normal weather during the winter months can also make the housing numbers spike. One key statistic pointing to “better-times-ahead,” however, bears watching. Last week, the Census Bureau reported that single-family housing permits (which are not influenced by weather as much as other housing numbers) increased 11.2% in February, but today, it revised this increase to 16.1%. Until we get another two positive readings on single-family housing permits, at best we can say that housing has likely hit an inflection point. An inflection means that the market is shrinking, but not in collapse. –Patrick Newport, IHS Global Insight
  
  
• Sales remain incredibly weak, but, as with the existing sales numbers, we are prepared to hazard the view that the post-Lehman meltdown is now over and the market is stabilizing. That’s not the same as a recovery, but it is better than continued declines in sales. –Ian Shepherdson, High Frequency Economics
  
  
• Overall, this report is better than we had anticipated, continuing a pattern of the February housing data exceeding expectations (recall that existing home sales bounced by 5% and housing starts climbed by 22%). To be sure, the improved data last month followed months of horrendous housing data, as activity fell off of a cliff following last fall’s financial upheaval. The pickup in February also came on the heels of an especially weak January performance, suggesting that the January-February swing may have reflected in part a weather effect. Still, the fact that starts, permits, and home sales rebounded in February despite still-challenging economic conditions suggests that, at the very least, the pace of decline in housing demand may be abating. It is clearly far too early to call a bottom in the housing market, especially given the deterioration in the labor market, but the February data have allayed some fears that the housing market would continue to freefall. –Omair Sharif, RBS Greenwich Capital
  
  
• Even with the number of homes available for sale down another 2.9%, a twenty-second consecutive decline to a seven-year low, the months” supply of unsold new homes only moderated to 12.2 months from the record high 12.9 months hit in January. Around 5 to 6 months of supply would be consistent with a balanced market, so inventories are still completely out of hand heading into the crucial spring selling season. There’s little chance that the marginal bounce off the prior record low in single-family housing starts in February (the larger gain in overall starts was almost entirely in the volatile multi-family component) can be extended with inventories so bloated. –Ted Wieseman, Morgan Stanley
  
  
• New home sales in February staged their largest increase in over a year, increasing 4.7% to an annual rate of 337,000. Price concessions may be an important factor bringing buyers to the market last month; both median single-family home prices and average single-family home sales prices were down by record amounts in February. Almost half of homes sold last month were under $200,000; in the same month last year only 33% of homes sold were in this price range. –Michael Feroli, J.P. Morgan Chase
  
  
• The rebound in the number of U.S. new home sales may just be monthly volatility rather than a sign that housing activity has stabilized. New home sales fell by a huge 13.2% in January meaning that the 4.7% rise in February is nothing to get too excited about. Sales are still a frightening 75% below their peak. Admittedly, the figures do suggest that the rebound in February’s existing home sales (figures were released on Monday) was not solely due to a surge in sales of repossessed properties –Paul Dales, Capital Economics
  
  
• Federal Reserve Chairman Ben Bernanke talked about early signs of some “green shoots” appearing in the economy in his recent 60 Minutes interview. This week we are seeing some further positive notes in form of better-than-expected new and existing homes sales and durable goods orders for the month of February. These, and other positive, or even “less bad”, signs are a welcome change of tune following the severe economic downdrafts extending from autumn 2008 into early 2009. However, just as green shoots can get buried by springtime snows, the small upside surprises that we have seen may yet be overwhelmed by ongoing downward momentum in business investment, labor markets, durable goods consumption, and export markets. The U.S. economy remains many months away from stability and is even farther away from sustained growth. –Robert A. Dye, PNC
  
  
• Only a small rise in sales after 6 consecutive monthly declines cumulating to -36%. Sales of previously-owned homes appear to be bottoming (again! After Sep-Nov downdraft), and the Mortgage Bankers Association index of mortgage applications for home purchase has stabilized in recent weeks. Nonetheless, one month’s increase in sales in newly-built homes is not enough to call a trough in this series. –Alan Levenson, T. Rowe Price
  

Compiled by Phil Izzo
Contact Michael@RealAstute.com for more detailed information!