Washington D.C. Real Estate Market Update 2013

Hello, my name is John Williams and welcome to my video blog! I will be sending you educational videos and inform you about what is happening in the Washington D.C., Maryland and Virginia real estate market. This is an exciting year in real estate; we’ve had low inventory, multiple offers on property and prices have increased on properties in the area. Although we had some misfortune where the government was forced to shut down and caused interest rates to rise, this actually improved the market by stabilizing it.

Another reason that made 2013 an exciting year is that we’ve seen a 10-15% appreciation and 2014 will be just as exciting. We will have more stabilization in the market, interest rates will rise 1% and were expecting a 5% appreciate in homes. If you’re looking to buy or sell, it’s time to engage in the market place. If you’re a potential buyer, this is a great time to enter the market. Interest rates are still low, homes are still affordable and if you purchase now, you won’t be in competition with other buyers. As for sellers, there are motivated buyers on the market looking at your house that don’t want to be in competition, aren’t looking for a low deal and buyers who want to take advantage of interest rates and can make full price offers.

If you have any real estate needs, feel free to reach out to me by phone or email. Thanks and have a great day!