By Rand Paul
Obama acts as though we no longer have a Constitution
Independent voices from the TWT Communities
::For a general discussion of Realtors' MLS systems and their function, see Multiple Listing ServiceThe Metropolitan Regional Information Systems, Inc. (known as MRIS) is the largest Multiple Listing Service in the United States. As of mid-July 2009, it serves 51,171 real estate professionals in Baltimore-Washington Metropolitan Area including Maryland, Washington DC, Northern Virginia, and parts of West Virginia and Pennsylvania. - Source: Wikipedia
Perhaps the highest compliment that can be paid to the Washington area in 2012 is that it was "balanced." The market was no longer cold, nor was it irrationally hot.
The term "short" in "short sale" refers to the sale price of the property falling short of what is owed on its loan. But if it were to mean the amount of time it takes to complete such a sale, real estate experts agreed it more accurately would be called a "long sale."
When Heidi Krieger, who recently purchased a one-bedroom co-op in Cleveland Park, first started looking at co-ops and condos, her first concern was to find a home she loved. Her second priority was to make sure the monthly fees were affordable.
Early each year, the Metropolitan Regional Information Systems releases data covering the entire previous year. The people there are the folks who manage the real estate database for our region's Realtors, and they track all kinds of interesting things. I thought I'd share a variety of statistics with you for 10 Washington-area jurisdictions.
Did you know there are two ways of counting home sales? You can count how many contracts were ratified in a given month, and that will tell you how active the market was during that month. Or you can count settlements.
Home sales in the Washington metro area were up 14 percent in 2011. They were also down by 8 percent.
If you are trying to sell a home, you already may have noticed you are not alone. A lot of other folks in your ZIP code are selling, too. They are your competition for potential buyers - the reason you need to make your property look good and price it right.
Somewhat surprisingly, 2011 turned out to be a good year for the Washington-area real estate market. Buyers were more active than they have been in five years, and the backlog of unsold homes fell to its lowest point in seven years.
Sellers in September found that fall is not the best time to sell a home. It wasn't terrible, and it was the most active September since 2005, but it was quite different from the busy spring market.
When Leslie Hutchison, a Realtor with Fall Properties in Falls Church, listed a single-family home in Falls Church that included a parklike lot on a cul-de-sac, the land assessment was $80,000 higher than for three comparable homes because of the property's oversized lot.
Are you thinking of selling a home right now? Is it an "average" home, or something more special? A town home in Arlington, perhaps?
May was a good month to be selling a home in the Washington area. Not quite as good as March, but a good month nonetheless.
The District and its nearby suburbs are well-known for having survived the recent housing meltdown with more stability than other parts of the country. At the same time, homes in this region are among the most expensive in the nation.
The federal homebuyer tax credit that expired on April 30 seemingly had its intended effect, creating a spike in pending sales contracts in the Washington area.
June marked not only the midpoint of the year, but a high point for area real estate. If you are trying to sell your home, please don't take "high point" to mean good news. It's not.