For the first time since the pandemic began, we are finally seeing a slight slowdown in the DMV housing market. Don’t get me wrong, it’s still very much a seller’s market, but it’s not quite as frenzied as it has been for the past year and a half. I’m seeing pockets where properties that are priced too high or not in tip-top shape are sitting on the market. This is a good sign for buyers as it means the competition is a little less fierce, and they no longer need to sign over their firstborn to be in the running for a property!
This “slowdown” doesn’t mean buyers have their pick of the litter without a fight, though. Multiple offers are still being put in on most properties, and just recently, I helped a buyer in Maryland beat out the competition. In order to do that, we escalated our offer from the list price of $515K to $540K. Since interest rates are still at a record low (under 3% for a 30-year fixed mortgage), many buyers are willing to spend a little more.
I get excited about all of my listings, but my latest is extra special. Those of you who follow me on Facebook may have seen my post about the redevelopment plans for the areas surrounding RFK where I wrote about my youthful memories of football games, music festivals, and the infamous parking lot experience. Well, my newest listing in Hill East overlooks RFK Stadium.
My client (an architect and designer) did an exceptional job renovating this boutique 2-unit building. It’s the highest quality construction project I’ve been involved with...and I’ve seen and done a lot of renovations! Every time I’m at this property, I’m filled with the joy of all of the great times I’ve had with friends and family in this neighborhood. I’m excited for the new buyers to create their own memories in this special place.
For more photos:
My original goal was to have the house move-in ready by Debbie’s birthday, which is now in the past! But, things are moving along — the floors and trim are in, the cabinets are up, and the backyard has been landscaped! And since I couldn’t surprise Debbie with a finished house, I got her something she’s been wanting for a while that will fit perfectly in our new living room. A baby grand! Thanks to our friend Howard Politzer for helping me test and choose a piano. Debbie is over the moon!
Click on the video below to see Debbie's reaction!
Can I Ask for a Favor?
95% of my clients come to me through referrals from all of you, and I can’t express how grateful I am for that! I’m never too busy to take a call, so please don’t hesitate to continue sending people my way!