About Washington's Brightwood

Market Report for Petworth, Crestwood, 16^th Street Heights and Brightwood:

Housing values in the 20011 zip code have remained steady for the month of August. There still remains two real estate markets for sellers in Washington, DC; one market for those who are selling and have not made any improvements to their home in 5 or more years and another for sellers/investors who have purchased in the last year and totally renovated the property.

Some sellers especially those who have not improved their home recently are facing a hard realty that they will not get the same values as those sellers who have added the updates to the home. These homes are on par with brand new homes with all the bells and whistles from granite counter tops, stainless appliances, hardwood floors, already wired for WiFi, cable/dish tv and top of line bathrooms.

Here is a breakdown for the 20011 zip code:

Click Here; http://damontheagent.com/blog/

Washington, DC Real Estate Services

Damon The Agent specializes in selling homes in Washington, DC, Maryland, and Virginia. Short Sales, Foreclosures, New Homes, Regular Sales. 240-694-6460

So, one of my client's called yesterday to inform that he was behind in his mortgage and had, that day, received the "Notice of Sale." He was in tears, asking me what he should do.

Evidently, he's lost his job, had health issues necessitating surgery and hasn't paid his mortgage in seven months. He's one of my favorite clients, so I knew he'd had surgery because, being a good Realtor, I've kept in touch. I did not know, though, that he'd been laid off and was not paying his mortgage. We cried together. His situation just seems so bleak.

Now folks, I'm a Realtor -- not a loan officer, home inspector or mortgage modification agent. I honestly didn't know how to counsel him. My only suggestion was that he work with the mortgage company. I've since heard horror stories of properties being foreclosed on while the homeowner is still in negotiation with them.

Are there those out there who can offer help, hope, suggestions?

Buyers and Sellers!!! NOTE: Brightwood continues to have a consistent flow of sales. The chart above shows that in the month of September 2009, the Brightwood Subdivision saw 7 homes LISTED on the market AND 9 homes SOLD. For another consecutive month, Brightwood sales are continuing to show evidence of absorbing (selling) more homes each month than that which is listed on the market. THAT IS OUTSTANDING.

With this good news, perhaps you are wondering well if I sell my home, approximately, how long can I expect for my home to remain on the market before it is sold? To answer this question, stay tuned to my next blog on "Absorption Rate".

Hope you are finding these series of the Brightwood Monthly Market Report helpful.

Uniqca V. Powell, Your Brightwood Neighborhood Realtor, 202/299-4731 OR 202/362-3400, x120.

This month shows us evidence that the Brightwood subdivision is clearly one of Buyer's location of choice in Washington, DC. This month shows 12, YES that is 12 homes that sold in the month of August, which shows that Brightwood is up in Sales by 3 from last month. (Go Brightwood!!!)

In summary, the chart above shows 10 homes that were listed on the market in August 2009, but 12 were absorbed (sold). Yes, just as quickly as homes are listed on the market, homes are being absorbed (sold).

Therefore, if you or someone you know are thinking about moving to Washington, DC, REMEMBER to consider Brightwood as one of your Neighborhoods of choice because THE NUMBERS DO NOT LIE!!! For a brief tour of Brightwood click the link here --> Is the BRIGHTWOOD Subdivision (in Washington, DC) a Wonderful Place to Live? YOU JUDGE FOR YOURSELF . . . Come Take a Visual Tour with Me!

Should you need a physical Tour of Brightwood, remember to call Uniqca V. Powell at 202/299-4731, Your Brightwood Neighborhood Realtor. STATY TUNED for next month's Brightwood Monthly Market Report. We hope you have been enjoying these series of FRESH, UP-TO-DATE information.

Uniqca V. Powell