Did You Know That D.C. is a Hub for International Investors?

Here at Eng Gracia Properties, we have a systematic way of selling properties. One of the things we like to do is analyze information and data; along those lines, I have information on foreign investment in Washington, D.C. The job market in Washington, D.C. is terrific and it attracts many investors, both foreign and domestic. I happen to work with many investors here in Washington, D.C. that range from business owners to people working in professional capacities that have a little extra money and want to invest.

There are also larger organizations, like investment funds, that are pooling their resources and focusing on Washington, D.C. as one of the top markets in the country. For example, we have a large project downtown near our basketball arena called “CityCenterDC” and had actually stalled during the recession. Since then, the country of Qatar has funded almost $650 million to the project. If you read about Qatar and her priorities, one of the things they are focusing on is real estate in this country; with Washington, D.C. being one of the top areas of focus.

CityCenterDC is a project that will consist of high-end residential on top of high-end retail. Some of these apartments will fetch $1,000 per square foot; some of us are skeptical if there will be demand for them, but some are beginning to sell. There are model units available to be seen and visited if you are interested.

When you learn about Qatar, they are focusing on growth markets and markets that have a strong employment base. As I like to say, even if public opinion and congressional priorities shift and cause the size of government diminish, it would still be the number one employer on the planet. The good news is that Washington, D.C. has other elements producing a more well-rounded economy.

Initially, we saw many industries that sprouted and branched off of the government such as contracting and hospitality. However, we are seeing the emergence of new industries ranging from Biotech to National Security. This is sparking the interest of Qatar along with the influx of young professionals moving to D.C. Even during the downturn, D.C. saw increases in career opportunities.

When looking at a market in which you would like to invest, there are many elements that a person should analyze. Within that information, 50-70% of that information is related to the health of the employment base. If you have any desire to learn more about investing in D.C., don’t hesitate to contact us.

Thanks and have a great day!

Buyers click here to search all area homes for sale.

Bidding Wars

Welcome to our video blog! Thank you for joining us! We are the number one Keller Williams Team in the region; we sell in the DC/Virginia area.  We are a highly efficient team and we hope that you will consider us if you run into a bidding war as a buyer.

Bidding wars can really make you lose your appetite for buying. It can be discouraging and intimidating when you find out what it may take to win. So, when we discuss whether a buyer should participate in a bidding war, often times buyers want to know if they do offer higher, will they be foolish, and what will the market do?

This is a great question. While we don’t have a crystal ball, it is important to know what is going on in our current market. We have a lack of inventory now and I think many buyers want to know will there soon be an increase in inventory, making buying a home less competitive.

Theoretically, that is possible, but in the Washington DC area we are coming on the third year of experiencing drops in inventory. What I can tell you is if the supply and demand does start to balance out, it won’t happen over night.

If you do have any information on these topics, send us links; send us articles. We are looking at whether sellers are under water; we are wondering where these people are. As we approach peak pricing and pass it, we can anticipate more houses coming on the market.

There are also sellers who are perfectly well positioned to sell but don’t know the benefit of doing so right now!

Thank you so much for joining us! Just know, we will follow this issue very carefully!

Rising Market Rates

Hi everyone, thanks for coming back to our real estate video blog!

So, my head has been spinning a little from the recent changes in rates. There have been a lot of articles out about rising interest rates. On June 4th an article came out titled “Will Higher Mortgage Rates Kill the Housing Market? Maybe Not”

What the article says is there is a cyclical loop when it comes to interest rates. It can be hard to know what is actually going on.

Well, to simplify things, as the economy improves it becomes less important to make money cheap.  Interest rates then rise and those rising rates can scare us in the real estate market. However, if rates are rising, it means the economy is improving. While it seems our economy is improving, we do not know if our economy is out of the woods nationally, though.

It’s very interesting as we observe rate movement; things that would appear to put downward pressure on the market (rate movement up) are happening because other things could place upward movement on the market (an improving economy, improving job market and consumer confidence).

What I can tell you as a real estate investor is, if it becomes a little more expensive to buy a property because of rising interest rates, it means the economy is improving. There are many buyers who have the ability to purchase my property if I am a seller.

I’d also like to note that we were at an all-time low in interest rates. Even if rates do increase to 5%, it isn’t the end of the world! I know I probably haven’t answered all your questions about rising interests rates, but I want you to know as we learn more and have more numerical information, we will share it with you!

We are data-driven here and love to research the real estate market! Thank you so much for joining us and I promise to keep you updated on the rising rates. If you have any specific questions please give us a call at 202.290.1313

Thanks for watching! We really do appreciate it!

Finding a Good Buyers’ Agent in the DMV Area

Welcome back to our real estate blog!

We are the top team for Keller Williams in the D.C. and Maryland area. We also sell in Virginia! Today, I wanted to talk about the significance of finding a good buyers’ agent.

These days, D.C. is a highly educated area; people are very serious about engaging a realtor. We often find ourselves competing for the role of buyers’ agent.

When we talk with a possible client, we tell them without a doubt it is important to have an honest agent with integrity and who is competent. But that should just be your baseline. You want a realtor who is also extremely knowledgeable about the market, an agent who is passionate and learns as much as they can because they want to, not because they have to. That’s what sets us apart!

You also want a good negotiator, someone who truly understands how to get you as much as possible. A good buyers’ agent is highly motivated to make a buyer happy.

A good realtor will be an ambassador for you; they will represent you and your interests. And that buyers’ agent will have many extensive and positive relationships with people in your real estate market: consumers, agents, developers, etc.

I have a reputation among other agents that is fair and communicative, but I am still a bulldog on behalf of my clients. I am going to fight for you but do it in a way that doesn’t burn bridges, in a way that is ethical and fair.

We are ranked 11^th nationally with Keller Williams which is the number one brand in the country!

Thank you for watching our video blog and give us a call at 202.290.1313 so we can get started and represent you in today’s market!

Peak Selling Prices and Low Interest Rates Mean a Great Market for Everyone

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In 2007, the U.S. stock market peaked before the economy headed into recession. Today, the stock market is at about the same level. But this time, experts say, it’s different. Most companies have more cash and are more profitable in 2013 than 2007.

I think there are parallels between the stock market and the real estate market. Home prices are right around 2007 levels, but the market is healthier because of low interest rates. Just like the stock market, you are getting a better product for the same price. You can get more home for less money than in 2007 with a big difference in your monthly mortgage payment.

That’s the advantage for sellers. For buyers, the low rates mean you can return to the market at a peak price that’s still a better deal to sellers because of interest rates.

With interest rates right around the 4 percent mark, about one-third of your mortgage goes toward principal. That’s amazing compared to the days when between 5-8 percent of each payment applied toward principal.

Peak pricing for sellers and record-low interest rates for buyers means it’s a great time for both to enter today’s real estate market.