As our lives continue to be disrupted by the Coronavirus, I will be posting weekly updates on the Vienna, Arlington, and Falls Church real estate markets.Today, I'm focusing on Vienna. Given the timeframe, I focused my attention on new listing activity over the past 10 days. Market Statistics in Vienna: March 16-March 25th, 2020 • [...]
From a Statistical Standpoint, is it Really More Lucrative to List a Home for Sale in the Spring? Over the past decade, the Northern Virginia real estate market has followed a predictable trend: January and February are always the slowest months in terms of homes sold. Home sales then pick [...]
Why New Isn't Always Better There are a lot of advantages to buying a new construction home. Everything is clean and unused, the appliances and fixtures are modern. There’s no wear or tear, new homes are (usually) more energy efficient . . . the list goes on and on. Wait, [...]
Low Interest Rates and the NoVA Housing Market According to Freddie Mac, a 30-year fixed-rate mortgage is averaging 3.82% at the moment—a two-year low. Traditionally, when interest rates drop home sales increase, and vice-versa. So are we likely to see an increase in home sales here in Northern Virginia? Probably [...]
Understanding Micro-Markets The true value of any home is a moving target. General market trends, both nationally and locally, play a part. But one of the main reasons that home value estimates from companies like Zillow are seldom on the money is that they cannot account for micro-markets. So What [...]
So the big news from last Thursday's 'A Regional Conversation With Amazon' panel discussion is that the company wants to hire most of their 25,000 new employees at HQ2 locally. Not exactly an earth-shattering announcement, given what we've heard from them so far. And in my opinion, in terms of how Amazon moving in will impact Crystal City, ahem, National Landing (still getting used to that one), it's not the most important question.So what is then, Lou?
Everyone in the real estate world keeps bringing up Amazon's HQ2 move to Arlington. But what does it really mean? Here's some random musings from your local real estate dude: