Archive for May, 2009
April Market Watch for Northern Virginia Real Estate
May 4th, 2009 Categories: Real Estate News
The April market watch for Northern Virginia shows prices returning to the plateau levels of 2004 so let’s get a better perspective on what this really means.
Consider ascending a mountain either by foot or by car. The climb can be exhilarating with incredible views from the peak. But, at some point, it’s time to come back down from the peak to a lower plateau. In other words, back to a more ‘normal’ view of the world.
Such has been the residential real estate market for the last five years. In Northern Virginia, we reached the top of the peak at the beginning of 2006. And now, after a steady downward hike, we are back to a ‘normal’ view of home prices.
The latest Case-Shiller Home Price Index for Northern Virginia shows that home prices have dropped 31% since the 2006 peak. As distressing as that statistic may be, the same report shows that home prices have returned to March 2004 levels- a time when real estate was very much on a solid plateau.
It is important to remember that the sharp 41% increase in prices between March 2004 and September 2005 was due to a very low inventory of homes for sale. With more inventory, prices drop, much like descending the mountain. So again, a drop to 2004 price levels is more like getting back to normal.
Another aspect of housing that is getting back to normal is the mortgage lending qualification process. Concerns about lower qualification ratios and higher down payments that were ignored are being watched closely.
We now understand that returning to previous reasonable standards is prudent. With a return to these standards, historically low interest rates are making today’s mortgages even better than usual.
To check housing inventory in your area, please click on the cities below:
A recent Gallup poll found that 71% of Americans think now is a good time to buy a house. If now is the right time for you or anyone you know, please call me at 703.927.4554 and let’s get started on finding your house.
I’m at your service,
Michael
| Currently No Comments »
Businesses on Del Ray’s Mt. Vernon Avenue Offer A Variety of Specials for Spring
May 1st, 2009 Categories: Del Ray
Check out this variety of spring specials from some of the great businesses on Del Ray’s Mt. Vernon Avenue:
ACKC COCOA BAR (2003A Mt. Vernon Ave.) will have an old fashioned Ice Cream Social on Sunday, May 3 from 2 p.m. – 4 p.m. to celebrate the arrival of a new soft serve ice cream. Stop by for free samples of the yummy chocolate or vanilla.
ARTFULLY PAPER (2007 Mt. Vernon Ave.) will have special balloons for Mother’s Day as well as a great variety of cards and gifts.. Stop by this weekend and ask about the selections and place your order.
BUNGALOW HOMEWARES GALLERY (1901A Mt. Vernon) now has Adirondack chairs made of recycled milk jugs, so they won’t rot, warp, crack, or peel. Easy to assemble and available in three sizes and seven colors, the collection includes side tables and matching ottomans. Kid-size choices are also available.
CONTESSA’S GARDEN & GIFTS (1906 Mt. Vernon) offers free “Potting 101″ classes and is the exclusive venue for the fully lined handmade totes of Amy Butler Saks.
DEL RAY ARTISANS (2704 Mt. Vernon Ave.) hosts their 12th Annual Student Art show. The show opened yesterday, May 1, and runs through Sunday, May 17th, 2009. For show details and gallery hours click here. Wheelchair accessible.
FIREFLIES (1501 Mt. Vernon ) features food and music:
- May 2 – Brunch from 9 a.m. – 3 p.m.; Mary the Flounder at 9 p.m.; Loose Lips at 10 p.m.
- May 3 – Bluegrass Brunch from 9 a.m. 0 3 p.m.; Big Hillbilly Bluegrass 11 a.m. – 2 p.m.
- May 4 – $5 burgers from 4 p.m. – close
- May 5 – Jeff Stapleton at 8 p.m.
- May 6- Bluegrass Open Mike with Rockledge at 7 p.m.
LA STRADA (1905 Mt. Vernon) is serving dinner every day from 5-10pm, and until 11pm on Friday & Saturday with Sunday brunch from 11 a.m. – 4 p.m. Reservations are recommended for Mother’s Day. Continuing their commitment to the freshest ingredients possible, La Strada has planted 20 varieties of heirloom tomatoes - the perfect accompaniment to their homemade mozzarella.
TAQUERIA POBLANO (2400 Mt. Vernon Ave) will be open all day on Tuesday, May 5th for Cinco de Mayo!! $5 Margaritas and $3 XX Drafts from 11 a.m. – 10 p.m. with new specials, Shrimp Tamales and Rellenos con Carne.
Check out all these great places and be sure and join us for the First Thursday of 2009 – May 7.
Thanks for stopping by,
Michael
| Currently 3 Comments »
Del Ray Farmer’s Market is Open for 2009 Season
May 1st, 2009 Categories: Del Ray
Ok, so the Del Ray Farmer’s Market has really been open since the first of April but it wasn’t until this past glorious, sunny Saturday that we could take it in. And what a Saturday it was – Del Ray was full of yard sales, including the MV BIG FLEA, the Caboose and St. Elmo’s were packed, City Council candidates were working the crowds and the Farmers Market was brimming with the best in locally produced products.
Located in the parking lot at the corner of Mt. Vernon and East Oxford, the Del Ray market has organic meats, fresh pastas, locally produced fruits and vegetables, home made cakes, cookies and breads, artisanal cheeses, honey, and yogurt, cultivated mushrooms and heirloom tomato plants.
The fruits and vegetables in particular are just out of the field (or off the tree) and if its not in season, its not for sale! Personally we can’t wait for the few brief weeks when fresh English peas make their appearance. The market is open from 8:00 a.m. to 12 noon -dogs welcome, but on the perimeter.
Really folks, is there any better place to be on a Saturday morning than Del Ray? Want to know more about living in this incredible neighborhood? Give me a call at 703.927.4554.
Michael
For scenes from last year’s opening day, click here.
| Currently 1 Comment »
; ?>/images/MatoChiclet.gif)
