Hot housing market with burning thermometer.

Assessing the Prospects of the Summer Housing Market Amidst Challenges

The current state of the housing market is marked by uncertainties as the summer season unfolds. Rising mortgage interest rates have led to decreased affordability, impacting potential homebuyers and contributing to a shortage of available homes. Sellers, while still benefiting from the housing shortage, are experiencing challenges in commanding high prices compared to previous years. This article examines...

Man on phone vs. man considering buying house.

The Pros and Cons of Buying a House Now vs. Waiting

In the realm of real estate, the question of whether to buy a house now or wait for a better opportunity is a common dilemma. Potential homebuyers must carefully weigh various factors before making a decision. In this article, we explore the advantages and disadvantages of buying a house in the current market compared to waiting for a potentially more favorable future. 1. Favorable Interest...

DC Metro area real estate market update.

Market Update, D.C Metro Area – Week ending July 2, 2023

Here are the highlights for the week ending July 2, 2023: Weekly new listings down in advance of the 4th of July holiday. Listing activity is down seasonally and remains well below where it was a year ago. Potential sellers are sitting tight as the number of weekly new listings is down 19.3% compared to the same time a year ago. New listing activity will remain low as elevated mortgage rates are...

Sold red brick building with steps

Air & Space Forces Association Completes Sale of Long-Held Arlington, Virginia Headquarters After Nearly Four Decades

The Air & Space Forces Association (AFA) has successfully sold its longstanding national headquarters in Arlington, Virginia, as it embarks on a journey to secure a more modern office space. Taicoon Property Partners, based in Arlington, has acquired the iconic 1501 Langston Blvd. building that had served as the AFA's home since 1984. The transaction concluded at a price of $16.25 million, amounting...

4th of July firework show graphic.

Your Guide to the 2023 Annual Fireworks Show

Experience the dazzling spectacle of fireworks this Independence Day! Join us for the annual firework show on the National Mall at 9:09 PM (Tuesday), and for an optimal view, secure a spot in the grassy area surrounding the iconic Washington Monument. Alternatively, discover prime viewing locations at Anacostia Park (Tuesday) or Cardozo Education Campus (Tuesday) in the vibrant Columbia Heights...

Bill 17-23: Recrdation Tax Changes.

Montgomery County passes new increased Recordation Tax Rates.

Effective October 1, 2023, Montgomery County transactions will see a new, increased recordation tax. The new schedule is below. The First $500,000 is taxed at the rate of $8.90 per $1000, or fraction thereof From $500,000-$600,000, the tax rate is $13.50 per $1000, or fraction thereof From $600,000.01 to $750,000, the tax rate is $20.40 per $1000, or fraction thereof From $750,000.01 to $1,000,000,...

Washington DC real estate market update.

Market Update, Week Ending June 25, 2023

No price relief for buyers. List prices continue to rise as we head into summer, tracking above last year at this time. The scarcity of supply continues to put heat on competition for buyers, and it is likely this trend will not relent for some time. Listings remain stagnant. Listings are down -3.2% from last week but are down -29.8% from a year ago in Washington, DC. Homeowners are very reluctant to...

Aerial view of downtown Montgomery, Alabama.

Evaluating the Crossroads of Montgomery County’s Housing Policy

In recent times, the housing policy of Montgomery County has found itself at a critical juncture. The county's approach to housing regulation and development has become a subject of deliberation, prompting a closer examination of the potential paths it may take. This article aims to provide a professional analysis of the current state of affairs, shedding light on the challenges faced and the potential...

Real estate market update with house image.

Weekly Real Estate Market: June 18, 2023

Here are the highlights for the week ending June 18, 2023: - List prices see a summer increase. List prices increased slightly over the previous week. While the median list price is up only +0.2% over last week, the consistent strain on inventory continues to drive prices up for buyers. - Competition continues heating up. Competition among buyers is still intense as the median time to contract is...

Mid-Atlantic CCIM chapter committee chairs.

Celebrating Diversity, Equity & Inclusion: A Spotlight on Terring H. Wang in Maryland Realtor Magazine

I've had the incredible privilege of being featured in Maryland Realtor Magazine Vol LVII Jun/Jul 2023 where we talked about Diversity, Equity & Inclusion (DEI) and also lead the MARYLAND committee as the Chair for our esteemed CCIM MID-ATLANTIC chapter. If you're immersed in the commercial business realm, brace yourself for a wave of excitement as we have an array of captivating commercial education...

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