Market Movement and Positive Outlook

In this market place you will find the serious sellers, and buyers that want to pay a fair price.

As I just mentioned the other day we appeared to be in a buyers market but now as the statistics are being analyzed that shift is moving towards a more even market.

I'm going to take a moment and further explain and try to shed some light on the current uncertainty that we are experiencing.  The market is best explained as moving to an even market but with continued buyer uncertainty that shift is slow. It changes from day to day and sale to sale.  There can be micro markets being driven by specific situations like development and investment potential, and larger markets that consist of micro markets. All factor into the conditions of  "the market". It is important to understand the types of sales and volume of sales to realize the right time to buy or sell. Basic Econ 101!


Whats going on with the most stable market in the country?

"DC Market" and factors determining
News Flash you live in the nations capital! Did you think I wasn't going to say politics is a factor? Truth is elections are today and possible shift in power among the Senate. That being said we are also a short time away from a presidential election with a lot of emotions building. These do determine and push home sales in the country, more importantly the district.  Luckily, we are in one of the most stable markets in the country having the federal government in our city.

October Stats: 1001 Properties were listed on the market in DC for the month of October. 724 sales in October. Currently with a total of 1,436 active listings in DC. All stats are provided by MRIS and not guaranteed to be accurate.

"Alexandria City Market" and factors determining
Just a stones throw across the river from DC we are experiencing sales moving slightly higher and soon creating an even market. Inventory is creeping up as well as sales, making this a good time to buy. Buyers still know the inventory and are becoming very educated with the slower pace of sales. Sales are generally not moving over list price.

October Stats: 264 Properties were listed on the market in Alexandria City for the month of October.  183 sales in October. Currently with a total of 554 active listings in Alexandria City. All stats are provided by MRIS and not guaranteed to be accurate.

Positive outlook:
Be prepared for a possible uptick in national sales leading into the new year following the November elections and other positive world news for example slowing of new cases of Ebola and Financial Market positive gains. Yes Ebola in the US helps add to the uncertainty and uncertainty moves the real estate market.

Market Outlook: Heading to an even market.

Counter tops explained

Getting lost in all the choices for counter material? I will break down the Top 5 trendiest, most durable, and the easiest on your pocket. If you want to skip the descriptions here is my preference:

Top 5 Most Trendy
1. Marble
2. Quartz
3. Granite / Travertine
4. Concrete
5. Wood / Stainless

Top 5 Most Durable
1. Quartz
2. Granite
3. Travertine
4. Concrete
5. Soapstone

Top 5 Pocket Savers ($$$ to $)
1. Laminate
2. Tile
3. Recycled
4. Wood
5. Concrete

Notable Mention Material to Look for in upcoming applications: Vetrazzo

My Favorites

Quartz

Quartz - houzz.com

One of the more expensive materials, this option can really make your kitchen standout if you are going for the ultra high end look. Quartz is also the most durable, no need to seal it. Cut on it and place anything hot directly on the surface. Unlike many of the other materials quartz is engineered and not pulled out of the ground. 

Marble
Currently the trend in choices for material. Marble will scratch and chip easily. That being said it is more affordable than granite but I do not suggest cutting on the surface if you want it to last. With this type of material the waterfall counter top design for the high end applications is a must!

Marble - nwgranite.com

Vetrazzo

Vetrazzo - greenbuildingsupply.com

If you can afford the look it is a must have. Vetrazzo is the new green in counter tops. The material is just as strong as granite and only needs to be sealed once every 2 years. It is made from various types of recycled glass and bound by Portland cement. Vetrazzo has no harsh chemicals creating the true green counter top.

Service and the Community

The UN and Rotary

New York's Times Square

I recently attended UN Day with Rotary at the United Nations. Here most of the major leaders in Rotary joined together for common causes to learn and teach each other how to better Rotary and change to world. I arrived in New York City on the evening of Friday October 31st to attend dinner with the current Rotary International President in Chinatown. There were just under 200 in attendance, and I am certain by now the RI president knows me by name. Either way it was a great evening shared with so many like minded individuals. The following morning I arrived at the UN for our Rotary Day. With hundreds in attendance, I listened to numerous speakers talk about the continued efforts of Rotary with the fight against Polio and other diseases. Of the speakers some talked about youth in Rotary others talked about water, human trafficking and peace. At different points between sessions Rotarian's were given the opportunity to voice their concerns and ask questions. There were a number of UN representatives present that listened, commented and moderated the sessions.

I think it was clear the message for the weekend shows the extreme dedication of every Rotarian to make the world a better place. I am honored to be a part of such an amazing organization and look forward to attending next year to gain more ideas and continue the drive to make this a perfect world.

UN Conference Room

A Buyers Market

Washington DC, Alexandria and Annapolis Housing Market Conditions

   With more listings going on the market than sales being performed.  It makes sense that now is the time to buy your next home.  Take advantage of these low interest rates and have your pick out of all the homes available.

   If you are looking to sell use caution and do your homework to determine the market value of your home.  It is especially crucial in this type of market to not overprice your home.  Overpricing will turn the few potential buyers away from your home and sell your neighbors home.

www.PatrickDeLeonibus.com

DC Living allows for Backyard Destinations

Younger population moving in, and backyard destinations become ever so popular.

If you have lived in the DC area for a number of years you already understand the benefits of living here.  If you are new to the area WELCOME, you are bound to love it here.  After the dust settles from the nations politics DC is still home to about 632,000 Americans (2012).  Looking back at 1940 we had nearly 900,000 residents and now the population is trending back upwards with the desire to move back into the city and immediate surrounding neighborhoods.   So you ask yourself what is the drive for the population to move inward?  We are looking at the younger demographics... age 25 - 34 is now the largest age bracket in the District.  The younger population just graduating college or only about 7-10 years out want to be within walking distance or metro distance to work.  It is not because they are lazy it is merely because they realize if they want to be out in the suburbs they can travel to get there.  There are also other economic factors involved, which I wont get into but this is the general reason motivating their decision.  Traveling is not an issue nowadays with all the different types of car share programs and rental services provided.  All you have to do is get up and go...

Cabin in Somerset PA

I was recently in Pennsylvania enjoying a weekend by the creek which compelled me to write this article.  With further research I have realized we have plenty of travel destinations within three hours of living from the DC Metro.  Now we can enjoy these destinations when we want on our time.  Families are using these destinations to build or rent vacation homes, ranches,  or retreats but keeping their primary residence in the city.



Backyard Destinations

Golfing trip in PA

There are countless backyard destinations to enjoy within 2-3 hours of DC  a few of them are:

Deep Creek Lake
Deep Creek Lake which sits just 3 hours outside of DC in Western Maryland and 30 minutes off of Interstate 60.  Deep Creek is home to the Wisp Ski Resort, but if skiing is not for you make sure you check it out during the warmer months for the other land and water sports.  Deep Creek welcomes golfers of all skill levels with at least four golf courses in the vicinity.  You can always find cabins for rent or sale at deep creek lake.

Somerset PA Fire and Ice Festival
http://www.festivalsinpa.com

Somerset and Rockwood PA
Get back to nature in Somerset and Rockwood PA.  You are probably thinking, Where is Somerset?  Well Somerset and Rockwood are also very similar to Deep Creek, just 3 hours outside of DC but located in PA.  Somerset is another Skiing destination (Seven Springs Mountain Resort).  During the warm months Somerset and Rockwood will allow you to reach the outdoorsman in you. Fishing, Hunting, Rafting, and Camping are all at your disposal.

Maryland's Eastern Shore
The Eastern shore has a variety of quaint places to visit for either day trips or over night stay.  Some options include St. Michaels, Crisfield and Smith Island.  A number of Marylanders enjoy second homes in these destinations.               www.PatrickDeLeonibus.com

Crabbing Boats, Maryland's Eastern Shore
http://www.thehulltruth.com/

Alexandria Farmers Market

Alexandria Farmers Market
www.northernvirginiamag.com

If you have not been to the Alexandria Farmers Market you are truly missing out.  I recently visited the Alexandria farmers market with my family a couple of Saturday's ago.  The weather appeared as if it was going to be nasty but as we walked down the street it cleared up and the sun came out.  The variety of people and items at the market really can make anyone feel at home.

Out of all the farmers markets I have been to, the Alexandria Farmers market makes you fall in love with the charm of Old Town.

For those of you who do not live in Old Town or have never visited...

Imagine this... in the center of Old Town Alexandria the Market Square Plaza that sits in front of City Hall packed with the hustle of Old Town on Saturday Morning.  There are Artists, Farm Vendors, Music and Laughter. The setting takes you back and really demands your life to slow down and take in the atmosphere.  This alone would make anyone consider living here.   The Farmers Market has been around for 260 years and currently holds the status of the oldest continuous farmers market in the country.  This market is open every Saturday year round. See you there! www.PatrickDeLeonibus.com

Alexandria Farmers Market www.jay.typepad.com

Patrick has been Ranked in the Top 100

Patrick DeLeonibus Speaking
at DC Rotary

I was recently pleased to hear that I was ranked in the Top 100 of Coldwell Banker Agents for the Greater Washington D.C. Metro Area.  I would like to thank all of you for helping me achieve this and I look forward to helping you achieve your real estate goals with the same elite level of service.  As we leave the summer months and head into the fall, it is a great time to consider your position in the real estate market.  Your business is always appreciated!

www.PatrickDeLeonibus.com

The Return of Wallpaper

     Whether you like it or not wallpaper is on the return. Yes, wallpaper is back in style... I remember as a child the horrific pale blue stripes and grapes that bordered the kitchen. I guess you can say now my parents just have good taste. This style of wallpaper may not be back, but wallpaper used on accent walls certainly is. We are noticing many designer patterns of wallpaper being used in model homes or being suggested by stagers.

Disclaimer: I am not suggesting to just go home and slap up some wallpaper thinking it will attract buyers... Please consult with a professional about this before you try it. Less is always better!

A little wallpaper can add a big pop to a room. If you cannot achieve the pop with wallpaper stick to neutral colors. Especially if you are looking to sell your home. By doing so you will attract a bigger pool of buyers. 

     It will be interesting to see how long this trend lasts and how many people overdo it. www.PatrickDeLeonibus.com

Demand of New Construction

     As we have seen in the recent months buyers in the market are demanding new construction in the DC Metro. There have been three notable developments reflecting this demand. 1055 High in Georgetown, The Oronoco in Old Town, and Potomac Yard in Alexandria. I mention these developments because of their attraction to today's buyers.

www.1055high.com

   
     Of the highest in starting price point, 1055 High demands attention. It is uniquely situated in the Georgetown neighborhood only housing seven units. These 7 units define style and ultra high end, ranging from $3.6 - 5.55MM. The development features an outdoor pool and views of the C&O canal. All seven units went under contract in June within 24 days from listing and all were cash buyers.

   

www.eya.com

     The Oronoco might be one of the most eye catching designs for new construction in Old Town. The idea was to convert the old Sheet Metal Workers Pension Fund office to 60 large one level condo units. While keeping the core of the building they were able to achieve just this and more. The terraced U shape building allowed EYA to build huge outdoor patios overlooking the pool. The complex has any amenity you could possibly want, from a children's playroom to a gym, yoga studio, and dog washing station. Now the design is being considered one of EYA's best builds in Old Town thus far. There are only 8 units remaining ranging from $1.6 - 4.5MM. I have to say since I have seen the view first hand, the $4.5 Million is worth every penny.

www.pulte.com

     Potomac Yard is one of the newer major developments in Alexandria. Prices currently starting in the $800's for townhomes and selling fast! While touring the new Pulte homes last week I was able to get the inside scoop on the hype of Potomac Yard. The 1st phase is almost completely sold out and there are now new plans for further development across Route 1 parallel to Potomac Yards. Residents are buying up these new homes based on the idea of a future metro stop at Potomac Greens expected in 2017. There are very few amenities available to the residents of Potomac Yard.

705 Miller Lane Potomac Greens Listed
at $1,085,000. 

     With the Potomac Greens townhome community an EYA development just on the other side of the metro I question the attraction to Potomac Yard instead. If I had to guess it would be the new construction alone that attracts buyers. Potomac Greens is one of the best kept secrets of Old Town, centrally located between Route 1 and the GW Parkway. You will find amenities like a walking trail, fitness center, pool, playground and club house. There are a number of resales in Potomac Greens that are like new and model home worthy. Just being a few years old the neighborhood appears to be under valued and a best buy for Old Town.

705 Miller Lane Potomac Greens Listed
 by Nancy Perkins Coldwell Banker.

The Beginning of Great Service

     As we are already a week into August, I reflect back on the last two months and the start of great things to come. As many of you may know I have recently Joined the Rotary Club of Federal City (Washington, D.C.) and became a Charter Member this past February. This has been a very rewarding experience the last few months. Our club just completed the New Officer Installation Ceremony on July 20th where I will hold the Secretary position for another term. I was honored and surprised to receive the award for Rotarian of the Year at that same event. We have done many things since our start to help better our community and soon the world.
     Our club has had a great start in Rotary and I look forward to the difference we can make and the lives we can change.

Patrick DeLeonibus and Rotary
 District Governor Bill Fine

     This past week in August we hosted the RYLA North America Conference here in Washington, D.C. We had over 300 Delegates and 51 different Countries represented. I was given the task of Director of Hospitality. We worked with the youth of Rotary and helped inspire leadership in everyone. There were a number of great speakers and Ambassadors who helped make this event special.

     Rotary International President Gary Huang of Taipei, Taiwan flew in to join us for our opening ceremonies on August 3rd. He spoke about the new theme of Rotary ("Light up Rotary") and our continued goal of complete eradication of Polio. Rotary Federal City