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I guess anyone who’s been involved in an occupation for over 20 years has stories…but I do think that being a real estate agent exposes you to the potential for some really great stories. I’ve decided to occasionally share some of my favorite stories. Although the names have been changed to protect the innocent, you have my word that all of these stories are true. I was probably in about my 6th or 7th year of business when, one evening, I got a phone call from a teacher at one of my son... Read Full Post

The Department of Housing and Urban Development (HUD), today published the new single family loan limits for conforming and FHA loans. These new, increased loan amounts were mandated by the Economic Stimulus Act, but we were awaiting the actual numbers to be released. Congress had given HUD 30 days to publish these new loan limits and they managed to get them out over a week early. The increases are local in nature and are based on the housing costs in various parts of the country. The good n... Read Full Post

Washington DC & Bethesda Luxury Real Estate Sales Report So this leap year gave me one extra day to compare January sales in a specific “micro-market,” but the day ran away from me so I’m giving myself one extra day before we start comparing February data. In an effort to go out with a bang (!), I decided to take a look at the Washington DC area luxury home market. I define the luxury niche as a property with a sales price of over $2M. This market report centers on data from most of... Read Full Post

I was reading the business section of The Washington Post today and it had an article about a Wisconsin couple who is going after Chevy Chase Bank for mortgage fraud. That sounds fine, on the surface, but it turns out that their attorney is also trying to get the courts to approve a class action suit to have all “bad” mortgages rescinded. It appears as though this is something that has not been allowed in the past and, although it only seems fair that lending institutions that made fraudu... Read Full Post

Those of us who are addicted to the immediate gratification provided by a BlackBerry or other such device (okay, I admit it...I’m talking about myself), are especially consumed by the question of how we ever got thru life without such access. I’ve taken my BlackBerry out to read emails on chairlifts in Colorado in the winter and on mountain hikes in the summer. I’m not proud of this behavior...and my husband hates it!! But, the internet and email have totally changed the real estate bus... Read Full Post

Here’s what we know. We know that the real estate market (at least real estate in the Washington DC Metropolitan Area) is cyclical. I have a friend who told me years ago that he believed that our market operated in 7 year cycles…the price of housing would increase for 7 years and then it would level off or decrease for another seven years…before it began a 7 year increase. I never challenged him, but I know that the last increase lasted for more than seven years. I think we’ve learned... Read Full Post

In a post last week, I made a prediction about a home in Bethesda that I had shown…the one where there were seven groups of people in a one hour time span. I went out on a limb and said that, based on the activity that I observed, it would be under contract by the end of the week. I was wrong…it’s still available. So, what does that say (other than the obvious, which is that I’m not a perfect predictor of market activity)? It looks like what’s happening (at least in the Bethesda are... Read Full Post

| Bethesda Real Estate Sales Report (20817 Zip Code) | A series of reports that looks into the Washington DC area real estate market through examining micro-markets. This market report centers on data from the northwest Bethesda area (zip code 20817) in January 2007 and January 2008. This affluent and large enclave of homes in Bethesda includes a diverse variety of more “modest” homes and luxury estates. Some of the more recognized subdivisions in this area include Bannockburn, Burning Tr... Read Full Post

So maybe I just want to prove myself right…but less than a week after Super Bowl (and that was an amazing Super Bowl!!), the real estate market in the Washington DC Metropolitan Area seems to be picking up. Regular readers will already know about my theory about “Super Bowl Sunday to Mother’s Day.” Just a quick recap: I have seen evidence over past years that this time period defines our busiest market. And, here we are…into the very beginning of that market and I have to tell you w... Read Full Post

As part of the Economic Stimulus Package being considered by the administration and by Congress, there is a proposal that would be a great boon to the housing market in the Washington, D.C. area – that is the increase in the conforming loan amount. Depending on what you read, this amount (which is currently capped at $417,000) could temporarily increase to $625,000…or even more. My understanding is that the temporary increase would be different for different parts of the country. Where ho... Read Full Post