11/17 Newsletter

National Real Estate News

What's the best day to catch a  home price reduction? 

What price cut is good? When's the ideal time a year to buy discounted real estate?

Look out for price cuts on Thursdays, and don’t expect many over the weekend.
Typical price cuts are around 3% of the list price, which is nearly $11,000 on the typical home.
Sellers typically cut prices two - three weeks after listing their home.

Check out this article for more. 

Courtesy of Zillow

Local Real Estate News

Mortgage Rates See Biggest Drop in 40 Years, Fall to 6.61%

Long-term mortgage rates dropped significantly this week as the result of reports that inflation is easing.

Freddie Mac reported 6.61% on a 30-year mortgage this morning, down nearly 50 basis points from last week. It is the largest weekly drop since 1981. 

DC Urban Turf

My Week's Highlight

Due to the Thanksgiving holiday, there will be no newsletter next week, so allow me to extend my warmest regards and be the first (or tenth ;-)) to wish you a Happy Holiday.

For me and my loved ones, this year has been filled with challenges, but also with new opportunities, which I am very thankful for. My family and friends have been my rock through thick and thin, and I knew I could always count on them to share in my joy when I achieve a goal or overcome a challenge. And for that I am eternally grateful.

My appreciation also extends to my clients, who have put their faith in me to help them through this rollercoaster that is buying and selling real estate . To you and your loved ones, I extend the same best wishes that I give to my own: may you always find solace in the arms of friends and family who will stand by you in times of trouble and rejoice with you in times of success.

Featured Listings

Chevy Chase

8918 Clifford Avenue

5 BD   5 BA   5095 SF   $1,615,000

Bethesda

9411 Elsmere Court

5 BD   3 BA   2001 SF   $899,000

West End

1111 24th Street Northwest, Unit PH106

3 BD   3 BA   2477 SF   $3,595,000

Thanks for reading and subscribing! If you think somebody might be interested in receiving it, please forward it to them. 

Reach Out

Irina Norrell

Real Estate Advisor
M: 202.495.8373
O: 301.298.1001
irina.norrell@compass.com

Office: 301-298-1001

Compass Real Estate is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

This email was sent to %recipient.email%
Unsubscribe from Irina Norrell