As far as the Federal Reserve is concerned, 2023 has started on a good note. Inflation has declined, wage growth has slowed and consumer spending is cooling. These are indications that its tightening monetary policy has had the desired effect and we may be able to avoid a recession. The Federal Reserve’s decision to increase [...]
The Washington DC Metro area is starting to show signs of Spring, both in the garden and in real estate! Just like those early tulips and daffodils that are poking through the ground, the housing market may be coming back to life after a deep freeze.Last week the average rate on the 30-year fixed mortgage [...]
News about the real estate market can be confusing. How can the market be declining, yet still be considered ahead? Inventory is increasing, yet new listings are decreasing. If prices are decreasing, why is this a seller’s market? When analyzing the market, we look at past performance. Typically, comparisons are year over year, and month [...]
The Washington DC metro area is a prime rental market. Like the rest of the country, elevated mortgage rates and home prices are turning many would-be home buyers into renters. In addition, DC has a large transient government and student population in need of housing. A volatile stock market has many considering the feasibility of [...]
This year looks to be challenging for both buyers and sellers. While home prices are still elevated, and mortgage rates linger at 6%, buyers are paying a premium for a new home and consequently, their expectations are high. First impressions and price will be the key factors in selling a home. The Washington metro [...]
The Reishman Group had a busy 2022. In our first year as an agency, we closed over $50m in transactions. Our reach extended through Washington DC, Maryland, and Virginia. We sold all types of residences -- condominiums, coops, semi and detached homes, and specialized in working with developers. We even helped a buyer close on [...]
As the Washington DC Metro area and other major cities struggle with housing shortages, commercial real estate is facing record-high vacancy rates. DC has more than 22 million square feet of vacant office space, and as more companies allow employees to work remotely, or have reduced “in-office requirements”, Mayor Bowser is not expecting our downtown [...]
What started out as a hot year in the housing market is ending on a cool front. The slowdown was driven by an increase in mortgage rates, concerns of a recession, and general market uncertainty. On Wednesday December 14 the Fed raised rates again, this time by only half a percentage point, with the [...]
A home inspection is an important part of the home-buying process, but its purpose is often misunderstood. Inspections offer valuable information, but a home does not “pass or fail” an inspection, nor is a seller required to repair any issues. In Washington DC, real estate sales contracts specify that homes are sold “as is”. A [...]
If you are undertaking a major renovation on your home, you hire a general contractor. Renovations are complicated. Permits must be pulled, reliable sub-contractors hired, and a work schedule organized and executed. A general contractor is the project manager. They are accountable for all aspects of the project. They know local codes and ensure [...]