DC on DC
A Regular Update on the Washington Real Estate Market
 “Worriers vs. Warriors”

 

"The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." (Time, December 1, 1947)

Houses cost too much for the mass market. Today’s average price is around $8,000—out of reach for two-thirds of all buyers." (Science Digest, April, 1948)

"The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs $28,000." (Business Week, September 4, 1969)

"The era of easy profits in real estate may be drawing to a close." (Money, January, 1981)

"The golden-age of risk-free run-ups in home prices is gone." (Money, March 1985)

"Most economists agree… [a home] will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980s." (Money, 1986)

"Financial planners agree that houses will continue to be a poor investment." (Kiplinger’s Personal Financial Magazine, November 1993)

The reports of doom and gloom are out there today, and worriers in the market seem to be gathering like a herd of Bison. There is not one person on my list, reading this, who should be freaking out. Everything moves in cycles. Right now, we are in a buyer’s market---providing opportunities to own and invest like never before. There is great inventory and sellers are motivated. Interest Rates are as good as they were back in the 1950’s and 60’s.

I encourage anyone who is feeling anxious about financing, to call Ryan Daily at 301.580.8235. He is on my team and can break down all kinds of affordable options, whether you are buying for the first time, or you are thinking about that great house down the street that would be a terrific investment.  

As we push through the last month of winter, I’m telling you we are already in the spring market. I am attaching seven gorgeous listings ranging from the most charming historic Federal on Capitol for $619,000 to a grand property that just came on the market today in Foxhall for $11.5M. All offer great value. Check out the virtual tours and I’d be delighted to show these to you in person, or any other property in DC or Maryland, if you’ve got the interest.

I promise, the water is fine.

Take care,
David