2/6 EMAIL

The Week In Review

Welcome to my weekly newsletter featuring a personal real estate story along with updates from the ever-evolving world of real estate. Enjoy!

 Story of the Week

2/6/24

With all eyes on the Chiefs and 49ers this Sunday in Las Vegas, the Super Bowl marks another equally significant event. The official start of the spring real estate market!

In our experience, the day after the big game is a magical time for home listings.

If you've tuned into my market updates in the past, you know I've argued that there are some strategic advantages to selling or buying in the winter months. But winter is undeniably the slowest market in DC - buyers are awaiting more inventory and sellers dislike the thought of listing their home with bare trees, a covered pool and grey skies.

But in our experience, the day after the big game, buyers and sellers seem to come out of hibernation and the spring season begins in earnest.

While April to June is often thought of as the hottest period for real estate transactions, serious buyers tend to get a jump on the market. There is less competition in February and March before the market really heats up. And for buyers, lenders are more eager and available for their business. Banks are less burdened with applications and inquiries.

So regardless of which team takes home the Championship ring, the day AFTER the Super Bowl is one of our favorites.

See the best Super Bowl take out around DC here!

Listing of the Week

Spotlight on Malibu, CA

Malibu Beach

27930 Pacific Coast Highway

12 BD   14 BA   12610 SF   $75,000,000

Real Estate In The News

VAIL.....northeast?  Yup, Vail Resorts has bought up numerous ski resorts in the Northeast (15!) and elsewhere. Vail's EPIC PASS Costing around $700-1,000 allows skiers to ski in multiple resorts in Colorado, Rockies, West, Canada, Australia, Europe and the Northeast, now with over 2 million subscribers. Traditionally, real estate prices at ski resorts have soared over time. (Bloomberg)

A group of lawsuits accuse large landlords of price-fixing the market rate of rent in the US. A complaint filed by Washington D.C.’s Attorney General alleges 14 landlords in the district are sharing competitively sensitive data through RealPage, a real estate software provider that recommends prices for roughly 4.5 million housing units in the US. RealPage says its landlord customers are under no obligation to take their price suggestions. Do homeowners feel the same way about Zestimates? Just when we were being told that tech can replace agents to reduce consumer costs ...... hmmm .....? Is there an entity similar to a REALPAGE tech for-(big)-profit entity possibly driving the attack on real estate agent fees? Maybe consumers can see here what happens to 'cost-savings' when tech takes over? (CNBC)

Assumable mortgages are rare compared with the trillions of dollars in new mortgages issued each year, though they have been growing in popularity. The FHA and VA together handled about 6,400 assumptions in 2023, more than double the amount in 2022. (WSJ)

Around Town DC

Learn To Design Flowers 

Green Hydrangea Flowers is pleased to introduce FLOWER LAB, a workshop experience for those who have always wanted to learn to design flowers. We are a live, in-person floral design workshop experience specifically aimed at ending your zoom fatigue. Let’s reconnect with our friends and our favorite experiences and make something beautiful together.

Choose between FLOWER LAB in studio or a bespoke event at the venue of your choice!

Lee Arrowood
+$173M Sold In 2023
#3 Team Lead 2022

Managing Partner
M: 202.251.3175
O: 301.298.1001
lee@fleisherarrowood.com

Office: 301-298-1001

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. 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.