Stafford County, VA Market Report – 2/28/11

Stafford County is off to a very interesting start this year!  Our market started to pick up in November 2010 and has been getting stronger with each month that passes!  Houses that are priced well, are in good condition and in good locations are really seeing a lot of showings and are going under contract much quicker than they were this time last year.

With that being said, the following statistics are a bit interesting. They really don’t reflect what we are “feeling” and “seeing”. However, next month’s statistics should show what we are now buzzing about!

January 2011 numbers compared to January 2010 numbers are surprisingly down!  Sold dollar volume, average sold price, median sold price, units sold, average list price for solds, average sold price to list price ratio, and average sold prices for both detached and attached homes are all down.  Days on market actually increased slightly by 1.41% which is crazy!

With that being said, active listings are slightly up (we still have a shortage of inventory though!), new under contracts are up by 30.30%, new contingents are up 119.51%!!! and new pendings are up 64.49%!  These are some pretty big numbers and show that a very strong spring market is upon us!

If this activity keeps up, 2011 should be a very good year in real estate!

Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.

Search for Home in Spotsylvania County: www.averyhess.com

Kramerbooks and Afterwords in Dupont Circle

With the recent announcement that Borders is closing a third of its stores, including a very large one in Northwest D.C., it’s easy to bemoan the decline of the printed word and books in general.

But not far from the soon-to-be shuttered Borders on 18^th and L Street is a bookstore that keeps the written spirit alive and well.

Kramerbooks and Afterwords, right off Dupont Circle, is the perfect place to find your favorite novel and then settle in and read it.

The space, which opened in 1976, and has been independently owned ever since, stands in stark contrast to the Borders and Barnes & Nobles of the world. The store straddles two streets, with one entrance on Connecticut Avenue, just a few steps north of the circle and another on the opposite side of the building, on 19^th Street.

Head inside the Connecticut Avenue entrance to visit the bookstore. While it’s not a large store, it is nonetheless jam packed with books. The bookstore itself is divided into two rooms. The first room has drab, thin, grey carpet and the second a faded pine floor. The contrasting floors imply one thing. We aren’t here for looks, we’re here for books.

The same goes for the signage above the literature. Some sections, like mystery novels, are demarcated by bright pink neon signs. But for other sections, like American Classics, there’s just a sign printed on computer paper, taped to the wall, high above the shelves. And those shelves are high, taller than most people, making up for the lack of floor space.

There’s no lack of selection, though. Customers would be hard pressed to find a novel in a mega-bookstore that isn’t inside Kramerbooks. Yet that’s only a small part of the store’s allure and charm.

Just beyond the bookstore, toward 19^th Street, is a full-service coffee shop and bar. Behind the counter, bartenders can pull top-notch espresso drinks or serve you a draft beer from the wide-ranging selection of quality microbrews. The bar always has 18 beers on tap, and the selection constantly rotates.

There are also liquor drinks available, as well as a very long, impressive and reasonably priced wine list. The bar space is narrow and only contains about 20 seats, but the message is clear: loiter or linger as long as you’d like. No one eyes you to leave after your drink is finished. So sit back and finish the entire book you bought, if it pleases you.

Beyond the bar is Afterwords, the bookstore’s café. The space is unique, all the walls and ceilings are glass, giving it the feel of a giant terrarium. The café serves large appetizers that they call “Sharezies.” Among the standouts are the “Thai Water Buffalo Wings” which come doused in a chili-garlic sauce and the Pizza Oaxacito, a Mexican take on the Italian staple.

While you enjoy your food, there’s also free entertainment. Dupont Circle is one of the busiest areas in the city, and the glass enclosure allows customers to sit back and enjoy the hustle and bustle of city life.

Four nights a week, Kramerbooks shows its groovy side. From Wednesday to Saturday, there’s live music, with acts ranging from jazz to folk rock. As the week progresses, the shows start later. They begin at eight on Wednesday, nine on Thursday and ten on Friday and Saturday. But the late start times on the weekend don’t cut the show short, because from Friday night until Sunday evening, Kramer’s doesn’t close.  And it may be one of the only bookstores in the area that never closes, meaning you can enjoy Kramer’s whenever you’d like.

- David

Warren County/Front Royal Market Report – 2/23/11

While it’s still early in the year to determine if the market is really trending upward, a look at the hard numbers reveals that the Front Royal area real estate market still has opportunities for buyers to find good deals. Prices are still very low, interest rates are still comparatively low, and working with a knowledgeable agent and mortgage lender will help buyers find the right property. December figures were generally lower than the previous December, and January did not show any improvement.

Real estate is a long term investment. The concept of purchasing a home for the sense of security, shelter, peace of mind, and a place for the family is becoming more of a reality than the idea of making a quick buck on an investment. With that mindset, a return to normalcy in the market will be inevitable and the enjoyment of watching your investment grow in value will be just the icing on the home ownership cake.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.

Search for Homes in Warren County, and all the DC Metro: www.averyhess.com

Take a Hike in Western Maryland

The thermometer is expected to soar this weekend, a sure sign that spring is on its way. Temperatures are expected to be in the mid-50s on Saturday and Sunday, which makes this the perfect weekend to get an early start on some of Washington D.C.’s finer outdoor activities.

It’s not hard to find good walking trails in and around the DC area, but if you’d like something a little more arduous, you need to only take a short drive north. There’s a fantastic mountain to wander up and down and it’s just a brief drive beyond the city limits.

Forty miles northwest of D.C., Sugarloaf Mountain resides in the tiny town of Barnesville, MD, which is about seven miles south of Frederick.

The mountain has an elevation of almost 1,300 feet, and while that’s not that high, it’s easily one of the tallest peaks within an hour’s drive of Washington.

It’s free to hike the mountain’s five main trails, which traverse the entirety of the park. When beginning a hike, start by heading to the summit first. It’s actually the shortest and quickest trip.  To get to it, after leaving your car in the parking lot, take the eastern fork of the White Trail.

There, while hiking slowly upward, you’ll catch nature at its finest. Rocks are covered in shiny green moss. The trails littered with crunchy leaves, still abundant from autumn. Fallen trees are everywhere and they make for great balance beams to wander on. Then there’s the wildlife. On any day at Sugarloaf, expect to see squirrels, rabbits, foxes and deer. But there are snakes too, so keep your eyes open.

After about a mile on the White Trail, you’ll reach a fork. From there, take the Orange Trail (also known as the Sunrise Trail). You’ll be able to tell if you are on the right path by the trees. Every so often, a tree is marked with a swath of paint the color of the trail you are on.

The Orange Trail is a steep climb, rising 400 feet in a quarter-of-a-mile, taking you right to the summit. There, you’ll get sweeping views of the scenery below, farmland and trees as far as the eye can see.

The hike to the summit is only about a mile one way, but the trip can easily be extended. From the summit, hikers can take either the Red or Green Trail, which head to different parts of the mountain.

If you choose the Red Trail, you’ll take a short descent and merge with the Blue Trail. This path will take you to the mountain’s second peak, which comes in a bit lower, at 1,000 feet.

Don’t stop there though, because the trail continues on to White Rocks, which is absolutely worth the extra time.  It’s a massive rock outcropping that climbers love to scale. But you don’t need to be a expert rock climber to enjoy the area. It’s easily navigable on foot and worth a trek just for the views.

After hiking around White Rocks, continue on the Blue Trail, which lazily winds back down to the mountain to the parking lot, where your trek is finished. This route in total is about five miles, and if you hike at a brisk pace, it can be completed in a couple of hours.

Then it’s just a quick commute back to Washington, which makes Sugarloaf Mountain a very easy and enjoyable escape to do, but an escape nonetheless.

- David

Sterling, VA Market Report 2/16/11

Last month I posed the question, “Are prices going down in Sterling?” I also said, “One month does not make a trend.” So this month we find out what happened.

See the details for Sterling below:

• Homes for sale: 169 for sale in January (Way down from the 234 for sale at the end of December and down from 205 in January last year.)
• Homes sold: 71 sold in January. (Down from 76 in December and 76 in January last year when there was tax credit in place.)
• Median sold price: $291,833 (up from $281,917 in December and $276,500 one year ago.)
• Average days on market: 52 (way up from 39 days one year ago)

Last year at this time we still had a homebuyer tax credit in place, and the comparisons are still hard to match.

Are prices falling? With stable employment and low interest rates, I cannot imagine why prices would not be stable. Sterling is still way above the December lows of two years ago. Sterling has a great housing stock of all sizes, prices and ages. At the present rate of sales and inventory, Sterling has less than a three months supply of homes, and six is considered a balanced market. So prices should be jumping like crazy.

Commentary and analysis provided by David Hess, Executive Vice President.
Search for homes in Sterling, VA and the entire DC Metro:www.averyhess.com

Montgomery County, MD 2/14/11

Montgomery County is Maryland’s most populous jurisdiction and its most affluent. The County is located adjacent to the nation’s capital, Washington, D.C., and includes 497 square miles of land area. The topography is rolling with small hills. Elevations range from 52 feet above sea level near the District Line to 850 feet in the northern portion of the County near Damascus.

The first segment of the long debated/long awaited Inter County Connector between 370 and Georgia Avenue in Olney will be opening on February 22.   The Olney area itself is undergoing big changes with new restaurants like Green Turtle, Five Guys, Chipolte and Panera either open or opening soon and the upscale grocery store Harris Teeter is set to open in the spring. This is one of THE places to live in the county!

The real estate market in the county is showing improvement over 2010, sales are up as are listings and the average sale price.  We are still seeing a fair amount of new construction throughout the county and the prices for these new homes are well within the reach of current buyers.

Looking at Montgomery County last month (January 2011) I see many positives.   If we compare January 2011 with January 2010 improvements can be seen.  With an Average Sold Price of $440,671, which is up +9.06% over this time last year and the number of homes Under Contract/Pending Sales up 14.05% to 1070, I see recovery ahead.

This is certainly relevant information. But if you’re trying to decide whether to buy a house, its value can seem limited.

Home prices have fallen a ton in the past few years. Does that mean real estate is a bargain now? I think it is.  Especially, if you are renting and living in Montgomery County rents just keep rising – while the cost of purchasing has gone down.  We are at the bottom folks.  The time to buy is NOW!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

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