Lots to be Thankful for

We survived Thanksgiving. Didn't go to Miss. after all. I've been fighting a little bit of a cold or allergies or something so I didn't want to go down to Miss. and expose my new grand nephews to whatever so we stayed here. Donna spent the week working on the bathroom, painting, cleaning and other things, basically making it spotless. It looks great.
Getting ready for the weekend. I have an open house this weekend. It's a beautiful old house in Brookland, 812 Buchanan St. NE. It was built in 1948 and it's the childhood home of one of my clients. They've renovated it and it really looks great. If you're looking for an open house to go to on Sunday, it's 1-3 p.m. Come by, I'll have treats.
This is the absolute best time to buy a house if you're thinking about it. While lots of people are out shopping for Christmas gifts, those our shopping for houses can do really well. Check out some open houses, check the website of Long and Foster at longandfoster.com and go shopping.

Working for the Weekend

It's Friday and technically it's the weekend. In real estate, however, there is never really a weekend. I think I've worked every day for the last three weeks. I'm not complaining mind you. It's just different to not really have an official end to the work week.
I'm reading a lot in the news this week about real estate and the housing market. USA Today had an article yesterday that said the housing market is shifting into a buyer's market. I've been saying that for weeks. We discussed this at our sales meeting Tuesday and the general consensus is that the market is actually becoming a more balanced market. We went a long time with sellers being able to get outrageous amounts for their homes and because they had fewer choices, buyers felt they were over the barrel to buy at any cost. No one was happy. Sellers weren't happy because they thought they weren't getting enough for their homes, buyers weren't happy because they felt they paid too much and realtors weren't happy because we were blamed for the market being like it was. This is a business where it's hard to please everyone. Now that the market is more balanced, I'm sure there will be those who won't be happy about it.
Mortgage rates continue to go up a bit too so buyers are holding back even though the market is tilting a bit in their direction. If you're thinking about buying, this is not the time to be holding back. Even with rates going up, waiting could mean allowing mortgage rates to get to a level where you can't afford to buy anything. Our mortgage expert, Michelle at Prosperity Mortgage thinks that Alan Greenspan won't raise short term rates in Dec. so as not to ding the economy too much around the holidays. She thinks he'll wait until Jan. and then turn things over to his replacement. We'll have to see.
Now, if you already have a home and you have an ARM that's nearing its adjustment period, refinance now to a fixed rate. You'll save yourself some money and you'll sleep better at night.
Lots to think about, lots to digest. If you have any questions about anything, please don't hesitate to contact me. Email me at angela.jones@longandfoster.com or call me at 202-494-6797.
Enjoy the rest of your day, enjoy your weekend too if you get one. Whatever you do, enjoy and remember, you can rest when you die.

Getting back to normal

The computer's here and I've loaded almost everything again. I'm getting back to the normal routine finally. It's almost 6:30 a.m. and I've been up since 5. My body clock often wakes me at that crazy hour and I'm not able to stay in bed. I've missed being able to get up in the morning and get on the computer and read the newspapers and check out websites. It's good to be back.

Anyway, lots going on these days with the housing market. I'm really tired of the Washington Post and all the other media in this town telling us there's a housing bubble and it's about to pop. The more you hear it, sooner or later you start to believe it. It becomes a self-fulfilling prophecy. The Washington area housing market isn't going through a bubble. It's November. The market is slowing down, it always does this time of the year. Houses sit longer, they always do this time of the year. Even it they're sitting a couple of days longer than they did this time last year, that does not mean the party's over and the bubble is about to pop. Sellers are still pricing at the levels houses were selling at six months ago, however. Interest rates are up slightly too and Thanksgiving and Christmas are right around the corner. That's what's causing the market to slow some. People are rethinking their plans and some are taking a wait and see approach. If they don't have to move right now they're staying put. The folks who are in need of housing right now are the folks out there looking, they are past the kicking the tires stage.
The president's tax commission proposed reducing the home mortgage deduction. Bad idea! While most people work to own a home, that is the American Dream after all, many see the deduction as an added bonus for achieving that Dream. Housing has been the engine driving the economy for a long time now. If that is to continue, don't muck with the mortgage deduction!
Someone told me they thought my blog was too political. Of course this was someone who voted for President Bush and felt I was bashing him too much. I'm not, I'm simply commenting on what's going on in the news. The reality is that everything is political and it affects everything we do including the housing market. I think it's noteworthy to mention that the president's numbers are still low (37%). Any time you don't agree with something here, please post a comment. That's what's great about this country. We get to disagree with each other. And it doesn't make us un-American to disagree with the president either.
Anyho, Donna and I are getting ready to head to Miss. next week. She says she's very nervous about meeting my family. She's actually already met most of my family with the exception of a niece and nephew and an aunt and uncle. I think she's more nervous about being around my brother Horatio, Jr. He's such a quiet man it makes her think he doesn't like her. He's like that with everyone, including his two daughters. Not much to do in Miss. so we'll have to be inventive. We'll probalby hang out a lot at the casinos. It'll be fun.
Speaking of fun, went to Perry's for Sunday brunch. Had a blast! A few of the entertainers had total wardrobe malfunctions. Use your imagination. Lots of fun was had by all.
Gotta go, enjoy the rest of your day.

The computer has landed!

I am so thrilled to finally have my computer back. I'm going out this morning to get several back up cards so I won't be in the same boat if this one crashes. I'm hoping it won't of course but you never know. I have so missed being able to get up in the morning, fix my morning cup of coffee and sit in my home office writing away on my blog or responding to e-mails or checking out websites. My morning routine was so off and I'm glad to be back in the land of the wired and connected.
How about that governor's race in Virginia? The Democrat won and the Republican's negative ads didn't work. I'm so glad it's over too because I was getting sick of seeing and hearing both of them. What does this all mean for future races? Probably not much. Mark Warner is a popular governor, maybe he'll run for president. His guy was able to use his coattails to secure a win. Bush's coattails are a little worn right now. I'm sure that'll change soon. Was this race an indication of things to come for the Republican party? What do you think?
Attended a planning meeting for my office yesterday. It was very interesting to be with so many successful realtors and hear how they've weathered the ups and downs in the real estate market. Our market is changing but it's still a great time to buy and sell houses. Many of the seasoned realtors were selling when interest rates were 18%! Can you imagine paying 18% today? Rates are lower than they've been in more than 20 years. If you're thinking about jumping in, do it now. It's such a good place to be.
People are moving back to the city too. DC has become the place to be if you're buying a home. The president of the DC Marketing Center spoke to us yesterday about all of the various projects that are underway or planned for the city. It's unbelievable. If you don't own property here yet you need to because there will be buildings popping up all over the city for years to come. Check out their website to find out what's going on. It's at www.wdcep.com.
I'm so excited to be a realtor!
Take care out there, enjoy the rest of your day and remember you can rest when you die.

Do you feel lucky?

I know it's been a while since I've written anything. Sorry about that but I'm still without my computer so I'm not getting to post as often as I'd like. Anyway, lots going on in the news that begs to be discussed.

How do you feel about our president these days? Do you feel he's doing a good job? What about the indictment of Scooter Libby? Is Karl Rove next? I think Karl Rove is actually Bush's brain but I think he should go. And what about the Supreme Court nominee? I think this is the guy they wanted in the first place and Harriet was just lead to the slaughter.

Are you confident about the economy? If you are, things are good, but if you aren't we're in for a bumpy ride. Consumer confidence impacts everything in the economy. If you don't feel lucky about the economy you won't want to buy that new home, new car, new home entertainment center, etc. Everything goes in cycles though so this too shall pass.

Anyway, I'm still waiting for the computer. I'm at the L & F office now so my mind flow is a little off. I have more interesting thoughts when I'm at home, sitting in front of my computer, drinking my morning cup of java and planning my day. Enjoy the rest of your weekend. Let me know if you see any good movies.