Monday, May 6, 2013

Investors Having a Difficult Time

Investors are having a hard time these days getting properties to buy and flip. Prices are rising to a level where it is becoming very difficult to find properties that have enough margin to renovate and re-sell keeping enough profit to make the investors happy. Even in Prince George's and Charles Counties, where there are an abundance of foreclosures and short sales, prices have risen to the point where the market is turning to a "buy and hold" strategy for investment. That is where I am recommending investors to turn their investment plans. Buy, renovate, rent the property then re-sell later after the market conditions continue to improve. These current conditions are mostly due to the lack of inventory. In March of 2008, in Prince George's County, there were approximately 7,000 units for sale. In March 2013, in Prince George's County, there were only 1,700 for sale. The numbers are similar in Fairfax County with 7,100 and 1,800. If you were not sure that now would be a good time to sell, think again. Investors, start looking to buy and hold rather than flip.

Statistics from Urban Turf

Wednesday, May 1, 2013

The Moyaone Reserve

Now here is a rare find in the metro area located just outside of DC and Old Town, Alexandria. If you are looking for a large home with interesting architecture on a large parcel of land, this neighborhood is for you!
The Moyaone Reserve is a wooded community of 180 homes in Accokeek, Maryland. It is contiguous to Piscataway National Park, home of the National Colonial Farm, and to The Hard Bargain Farm, an environmental education center. Immediately across the Potomac River in Virginia is George Washington's Mount Vernon home. The larger part of our conservation-oriented neighborhood is located in Prince George's County, with a smaller area in Charles County. We are roughly ten miles south of the Washington D.C. Beltway/I-95, just west of Indian Head Highway.
Lots are five acres or more in size and are protected by scenic easements deeded to the federal government. The easements, established to protect the viewshed from Mt. Vernon, require that property owners obtain permission from the National Park Service before felling any tree larger than six inches in diameter.
The Moyaone Association is the homeowner group that owns and maintains the community center, pool, and roads, and works in the interests of the membership.
Here is a link to the only active listing in the community...

I can not say enough good things about the extreme values to be found in Prince George's County.

Tuesday, April 30, 2013

Welcome to my real estate blog! I plan to share some insightful stories about the business, current market conditions, current listings and happenings around the Washington Metropolitan area. I might even be inclined to share a few war stories with you. Please let me know if you ever have any specific questions about the market in your neighborhood or about any specific properties of interest to you. This is such a dynamic market and it is always interesting to experience the market as a professional though the highest of highs and the lowest of lows.