MyLife in Metro DC – Meet Kristin

New Job. Check.

New City.  Check.

New Life …Chhh–what?!

Hello.  My name is Kristin and I am dropping everything, leaving it all behind, starting a new chapter in my life, and moving to DC.  (Well, Arlington to be exact, but saying “DC” makes more people go “ohhh,” so we’ll go with that…)

In the months to come I’ll be  documenting my adventures, trials and tribulations, ups and downs, and likes and dislikes of the Nation’s capital as it becomes my new home.   You can read all about it right here in this MyLife Metro DC blog.

My goal is to share my story with you, so that if you move to the area, or if you already live here, you can learn from my experiences, benefit from my insights, explore local communities, share in a few laughs and hopefully find out about some of the hidden gems the city has to offer.

That being said, I welcome you to my life and encourage you to leave comments, stories, tips, and suggestions of your own along the way…what’s the point of a journey (and writing a blog about it) if you don’t invite friends to come along??  …friend and snacks….can’t forget the snacks.

-Kristin

Want to know a little more about me?  If so, click on the video below…

Bristow, VA Market Report – 5/27/10

Bristow still has just a four month supply of homes for sale. Six months worth of housing inventory is considered a balanced market by economists.  This low level of inventory keeps pressure on prices in an upward direction.

Below you’ll find a report of the previous month’s housing market in Bristow, Virginia:

• Homes for sale: 172 (up from 157 last month and 148 in March, way under the 196 of one year ago)
• Homes sold: 40 (very stable over the past 14 months)
• Average sold price: $331,155 (up from $308,271 last month, and almost the same as $329,655 from one year ago)
• Average days on market: 28 (down from 56 in April and down from 71 days one year ago)

Bristow’s prices bottomed out around December 2008, moved up steadily during 2009 and have started to stabilize in the first four months of 2010. At under $350,000 and selling in about a month, houses in Bristow continue to offer good value for buyers which is why the number of transactions have been so stable. Bristow remains an affordable and in-demand place to live. With interest rates remaining in the high 4% to low 5% range, affordability is very high. Thus Bristow has a robust real estate market.

Market data and commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Bristow, and all of the DC Metro: www.averyhess.com

Stafford County, VA Market Report – 5/27/10

Things are changing here in Stafford County!  I have some pretty promising information to share with you!  The real estate statistics in April were great compared to this same time last year!  Once everyone recovered from the blizzard, people had a lot of making up to do in March and April!  Since the deadline for qualifying for the tax credit was April 30th, many people made the most of the opporuntity and it showed in our market activity.

As you can see, inventory is continuing to decline.  Once the inventory starts to shrink, days on market go down, percent of original sales price received at sale increases and the market becomes more competitive.  This is definitely the environment we are in now.  The market slowed down just a tad bit at the beginning of May, but we do feel like we are starting to see a momentum shift back in the right direction!  We hope this trend continues and look forward to a nice, active summer market!

Market data and commentary by Amy Cherry Taylor, Business Manager and Realtor at Avery-Hess, Realtors.

Search for homes in Stafford, and the all of the DC Metro: www.averyhess.com

Silver Spring, MD Market Report – 5/25/10

Driving north on Georgia Avenue you arrive in Silver Spring as you cross the dividing line with the District of Columbia.  Silver Spring is a suburb of Washington, D.C. in Montgomery County with both urban and suburban areas.  Silver Spring is located on the Red Line of the Metro system and the Silver Spring stop is the most used station in Maryland.

Real Estate Prices in Silver Spring are starting to reflect the trade-up market. Trade up is the term when existing homeowners sell and buy a bigger house. As this occurs, it pushes demand “Up the Food Chain” resulting in higher prices. This has been going on for about four months

Here are the market statistics for Silver Spring, Maryland:

• Homes for sale: 1,415 (up from 1,293 last month, but down a bit from 1,551 one year ago)
• Homes Sold: 222 (up from 188 last month, and up from 178 a year ago)
• Average sold price: $340,068 (down from $325,417 last month, and down from $35,551 one year ago)
• Average days on market: 78 (virtually unchanged from last month and down from 105 days one year ago)

The Silver Spring shopping district which centers around Georgia Avenue and Colesville Road has gone from a major shopping area to almost a ghost town and now with the newly revitalized City Place back to a vibrant area with restaurants, shops, theaters, etc.  The world headquarters of Discovery Communications has brought many jobs to the Silver Spring area.  The renovation of City Place has brought new life to downtown Silver Spring with the opening of fine shops, restaurants an outdoor shopping plaza where musical and ethnic festivals are held.

Market data and commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com

Germantown, MD Market Report – 5/21/10

Germantown is located in the northern part of Montgomery County between Route 355 and I-270.  It is an affordable city which was designed around two man-made lakes and contains a wide range of housing

The following conditions reflect the market in Germantown, Maryland during April:

• Homes for sale: 527 (up from 451 last month and up from snowy February’s 410. It was 517 one year ago)
• Homes sold: 107 (up from 88 last month and up from734 one year ago)
• Average sales price: $255,635 (up from $228,124 last month and up from $246,596 one year ago)
• Average days on market: 54 (down from 63 last month and down from 70 days a year ago)

After a couple of years of First-Time Buyers and Investors being the majority of the market, we are now seeing a rapid increase in the number of existing homeowners entering the market and buying a bigger house. This is firming up the prices in the higher price range and thus pulling up the average and median prices too in Germantown

The Germantown campus of Montgomery College is in the heart of Germantown and is surrounded by shopping centers, restaurants, housing communities, parks and recreational facilities.  Although there are no shopping malls in Germantown, it does not lack for stores both large and small.

Market data and commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Germantown, and all of the DC Metro: www.averyhess.com

Centreville, VA Market Report 5/21/10

Centreville is HOT! Steadily rising prices and increasing demand and supply over the past few months means that Good Times are ahead. Plus with great shopping, entertainment and dining options what’s not to like about Centreville?

The following statistics reflect the real estate market in Centreville, Virginia:

• Homes for sale: 435 (up from 401 last month, and up slightly from 424 at same time last year.)
• Homes Sold: 110 (up from 89 in March and February’s snowy 44 units. Up from 83 one year ago.)
• Average sold price: $337,492 (big jump up from $297,079 last month and WAY UP from $298,761 at the same time last year.)
• Average days on market: 21 (down from 34 last month and even more so from 74 days one year ago)

As we have said month after month, prices in Centreville are moving up and have been for the past 17 months. Over the past several months the market is no longer dominated by only First Time Buyers and Investors. We now have existing homeowners trading up to buy a bigger house.

With prices in Centreville rising and inventory also rising, we should see some stability in pricing soon as the supply rises to met the demand.. This is good for all parties!

Market data, commentary and statistics provided by David Hess, Executive Vice President.

Search for homes in Centreville, and all of the DC Metro: www.averyhess.com