Recent Trends in the Real Estate Market

Listen as Adam Iobst broker/owner of A-Team Realty, LLC explains the recent real estate trends in the Washington DC Metro area. Recorded and posted on July 13th, 2010.

Listen as Adam Iobst broker/owner of A-Team Realty, LLC explains the recent real estate trends in the Washington DC Metro area. Recorded and posted on May 16th, 2010.

This week we are interviewing Bob Sisson of Inspections by Bob, Inc. Listen as Bob and Adam discuss the issues that are often discovered during home inspections in older homes. This is an informal and informative interview. Enjoy the show. For additional information or questions contact either of us.

Home Buyer Radio (Recorded 3/26/10) - Listen as Adam Iobst of A-Team Realty, LLC and Brad Cohen of Mason Dixon Funding discuss the current trends in the mortgage industry. This is an informal informative interview that home buyers will find useful before home shopping. Enjoy the show.

Home Buyer Radio - The 2009 Home Buyer Tax Credit is expiring April 30th, 2010! Listen as Adam Iobst of A-Team Realty, LLC and Lisa Feinman, CPA discuss the 2009 home buyer tax credit.

Who is eligible?

People that:

1. Earned less than $145,000/yr (single) or $245,000/yr (joint),

2. Purchased a primary residence in between 1/2009 and 4/30/2010, and

3. Didn’t own a primary residence in the past three years, or lived in a previous primary residence for at least five consecutive years during the past eight years.

What are the perks?

1. Up to an $8,000 tax credit if you meet all of the criteria above and earned less than $125,00/ yr (single) or $145.000/yr (joint).

2. A partial tax credit if you meet all of the criteria above and earned between $125,000 and $145,000 (single) or between $145,000 and $245,000 (joint).

3. Up to a $6,500 tax credit if meet all of the criteria above and lived in a previous primary residence for at least five consecutive years during the past eight years.

These are just the basic points of the program. Please contact your tax professional for additional information.

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Absorption Rate

The absorption rate decreased slightly to 16% last month in our area. It is still a strong buyers market in the DC Metro area. We are starting this year with fewer properties for sale, compared to 2008 and 2009. The market trends are positive; inventory is decreasing while buyer demand is increasing. These are all indications that the real estate market in our area is strengthening. I believe that we may experience balanced market conditions in some areas this year!

At A-Team Realty, LLC we use an area’s absorption rate to determine that area’s market type. This is our model:

Days on Market

It currently takes about three months to sell a property in our area. It took less time to sell a property in January 2010 than it did in January 2008 and January 2009!

Number of Sales

The number of sales decreased last month; however, the number of sales is higher this January than it was in January 2008 and January 2009! I expect to see the average number of sales per month to double this summer.

Sales Price

We are very close to the average prices we experienced in January 2009. It appears that the increase we experienced late 2009 was only temporary. The increase may have been caused by the First Time Home Buyer Tax Credit that was scheduled to expire in November 2009. I believe that prices will increase like they did last year until the Fall of 2010.

Download the latest market trends report here

Many of us out there are considering refinancing our home loans right now and are wondering what to do next. I asked this question to an experienced loan officer during this week's Home Buyer Radio Show. Listen has Curt explains the"IN's and OUT's" of refinancing your home loan. Enjoy the show.