It has been one crazy summer in DC's real estate market. Who would have ever thunk:
1. There would be more than 10 ACTIVE listings in Dupont Circle under 300K. (There is a lot more ACTIVE inventory in DC than there has been in the last five years)
2. There would be more distressed sales, than 'regular' sales in DC. (There are tons more short-sales and foreclosure listings than we have ever seen)
3. Builder's are offering more than the complimentary flat-screen TV (or PRIUS)- and you are now seeing some builders who are willing to negotiate price and concessions.
4. Financing guidelines would be changing every waking second. (100% financing is ALMOST gone, and the underwriting guidelines are getting more stringent every day)
The wonderful thing about this summer was that it was still wonderfully busy. And in my business, busy is good. One of the things that I noticed was that this year brought a different 'breed' of buyer clients. Most of my new clients this year were strong 'numbers' people who were very focused on taking advantage of the market to find a really good deal. A lot of them had been timing the market, they wanted to get into real estate when interest rates are low, and prices are at their low end. Right now is that time!
I can't wait to share my real estate adventures with you.
I love a good bargain, and I love numbers- so I am loving this market!
1 comment:
First and foremost congratulations on your new blog. I'm looking forward to great conversations on this blog. To that end i think next year should see some serious activity, DC area, because the adminstration is changing- Achieng P
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