Yesterday, I was given the Million Dollar Club sales award by Weichert Realtors. I’d like to thank friends for their referrals and my clients for giving me their business. I couldn’t do it without you!
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I’m in the Newspaper!
http://www.washingtontimes.com/news/2009/nov/06/realtor-profile-dawn-pace/.
I did notice a typo though, it should read “instead of getting a baby sitter, he used to take me along with him.”
When Should I Begin Looking At Homes?
There is no one-size-fits-all answer. It depends on the availability of homes that meet your criteria. If there are many properties on the market, you’ll probably find something within a month of actively looking. If you are looking for something specific, it can take months (sometimes years) for that property to come on the market.
A good way to establish a timeframe for looking at homes is to work backwards from your ideal move-in date. If you are renting, when does your lease expire? If you are selling first, when is your settlement date? Do you want a few weeks overlap so you can make improvements and take your time to move? Are you flexible?
2009 Tax Credit – It’s official!
View the attached PDF to see the differences between the 2008 Recovery Act’s tax credit and the recently passed tax credit:
Report: Some Home Prices to Bottom Out in 2009
The following article was published 2/6/2009 in the Wall Street Journal.
By JAMES R. HAGERTY
House prices in much of the U.S. will bottom out in this year’s fourth quarter, Moody’s Economy.com says in a new report.
In some of the hardest hit markets, however, prices won’t reach a bottom until 2010 or 2011, the research firm says in a report written by its chief economist, Mark Zandi.
“Despite the darkening national economic outlook and the weak conditions in the housing market, some positive signs give hope that a bottom in the housing market is coming into view,” the report says.
It cites signs that home sales are stabilizing as people snap up bargains on foreclosures, a decline in the supply of unsold homes in many areas and expectations of moves by the Obama administration “that will help place a floor under the housing downturn.” Those measures could include lowering mortgage rates further, preventing more foreclosures and generating jobs through higher federal spending.
On average, house prices nationwide will hit bottom in this year’s fourth quarter at a level 36% below the peak reached in the first quarter of 2006, the report says. The price measure is based on the Fiserv Case-Shiller index.
But some areas will be hit much harder. For instance, the Naples-Marco Island, Fla., area is expected to bottom out in the fourth quarter of 2010 with prices 70% below the peak. The report projects that peak-to-trough declines for metro areas will be 66% in Miami, Fla., 63% in Riverside-San Bernardino, Calif., 58% in Phoenix, 56% in Las Vegas, 53% in Los Angeles, 38% in Washington and 33% in New York. Within those metro areas, different neighborhoods are likely to show very divergent performances; the most desirable areas near good schools and jobs are faring much better than other places.
The peak-to-trough decline will exceed 10% in nearly 62% of the nation’s 381 metro areas, the report says, and the drop will be above 20% in about 100 metro areas.
The report is based on a forecast that the recession will end late this year, followed by a “lackluster” recovery. “A number of uncertainties in both the housing and economic outlooks remain, and the risks tilt to the downside,” Mr. Zandi says.
Happy Thanksgiving!
I’m back!
It’s been a while, but now I’m finally back to blogging. I went to Europe a few weeks ago (Amsterdam, Germany, and Prague) and have been busy helping clients since my return. I have time again to resume my regular posting and Wednesday LIVE chats. Thanks for checking back!
Rothenburg ob Tauber, Germany with Mr.RealtorDawn
DC Metropolitan Real Estate 
