Spring is Coming Early!

All over the Washington Metro Area the real estate market is heating up earlier than previously expected. Currently we are experiencing high sales and inventory that is dwindling. There are a number of factors driving sales.

A few factors in play...

Transportation system in the DC Metro
Attractive reports on the outlook of the city
New development projects
Foreign investors
Large national investors
Positive outlooks for the Federal Government
Younger population demanding the urban lifestyle
Talk of rising interest rates for the new year

Georgetown Real Estate

If you previously thought about putting your home on the market in the spring time you may want to get it ready early. When buyers are biting they will tend to pay more when the inventory is lower. I expect this surge in demand to carry throughout the year. The undetermined factor is whether the inventory will match the demand and drive us to lower prices. 

As announced last week by major news outlets the Urban Institute predicts a population increase of at least 2,039,594 by 2030. Information like this being released does not slow down the real estate market, it gives it a nice kick in the butt as full steam ahead. 

I'm going to dub last week as "investor week", I heard from every investor I knew, asking me to find them their next project. Its a great time to live and move to DC.

www.PatrickDeLeonibus.com 

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/

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