Real estate markets in Washington DC are strongly rebounding, with average property prices increasing for the 14th straight month, according to local realtors.
“The summer is looking like it will be a very strong one for us as the housing market here continues its steady recovery,” said Donna Evers of Evers & Co. Real Estate. “Especially when you consider the numbers from last year, which show that 2010’s summer was also very strong for us because of the boost to home sales provided by the First Time Homebuyer’s Tax Credit.”
Homebuyers are being enticed to Washington DC buy historically low mortgage rates, which are continually declining. First Place Bank’s Chad Loube noted that with interest rates going down yet again this week, “Buyer’s are now able to obtain up to $729,750 in a thirty year fixed-rate loan with interest at around 4.5%.”
“The combination of a vast, well priced inventory and extremely low mortgage rates makes 2011 of the best times to buy in the Washington DC area that we have ever seen,” he explained.
Evers has said that she expects homes sales to continue to strengthen throughout July, surpassing those of July 2010 due to something that she terms “homebuyer enthusiasm”, a phenomena that is apparently unique to the Washington DC real estate market.
Evers & Co. enjoys a sterling reputation in the Washington DC area for its expertise in the Washington Metro Area real estate market, and currently employs more than 80 licensed realtors who boast years of combined industry experience. The firm is the largest real estate agency operated by a woman in the DC area, and is allied to the Paris-based real estate firm My Home, as well as a member of several noted real estate organizations such as Who’s Who in Luxury Real Estate, FIABCI and the Unique Homes Affiliate Network.