DC Real Estate and Area Events: District of Columbia: Chevy Chase

Washington, D.C Housing Market Report Statistics from June 1,2008 to June 30,2008

Total of the units that were sold were 550.

259 of the units sold:   1-30 days.

94 of the units sold:     31-60 days.

66 of the units sold:     61-90 days

31 of  the units sold:    91-120 days.

100 of the units sold:   Over 120 days.

49 of the houses sold were two or less bedrooms. 142 of the houses sold were three bedrooms. And 97 of the houses sold were four bedrooms. There were also 262 Condo,Coop and Ground Rent.

Out of the 3524 Active listings,1898 are residential and 1626 are Condo,coop and Ground Rent.

Type of financing used were:

Conventional:    365

FHA:                  58

VA:                     1

Assumption:       41

Cash:                70

Owner Finance:    0

All Other:           15

Unreported:        0

Total                 550

Total Sold Dollar Volume is down 15.04% from a year ago. Average sold price of a house is $571,055 up 5.66% from a year ago. Median sold price is $425,000 up 2.41% from a year ago. Total units sold 550 compared to 684 last year a 19.59% drop. Average days of a house on the market is 74 days compared to 63 days last year a 17.46% drop. Average list price of house sold was $602,328 compared to $557,271 last year which is a 8.09% drop. And Average sale price as a percentage of avg list price:94.81% compared to 96.99% last year. 

Total number of new listings taken for the month were 997. Total number of properties market Contract were 402. Total number of properties market contingent for the month were 175. And total number of new pendings ( CONTRACTS + CONTINGENTS) were 577.

Source: Metropolitan Regional Information Systems,Inc. -MLS Resale Data

Copyright 2008-Information deemed reliable,but is not guaranteed.

To receive your free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reached at (202) 378-0283 (Direct) or (301) 560-6700 x1154 (Office). I can also be reached on my websites www.buyandsellnewhomes.com and www.freelistofhomesforsale.com. Thank you very much. Looking forward to helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan - Real Estate Professional with Exit Premier Realty. "Buy and sell a home in Washington DC"

My brother Olakunle "Jay-K" Folayan is one of my favorite people in the whole wide world. He always willing to help me anyway he can UNLIKE SOME PEOPLE. He is one of the few people that I can honestly say is willing to do anything he can to help me in succeeding. He received his Masters Degree with honors from Devry University about three weeks ago. He graduated with a 3.8 GPA ( Very impressive ).


I am so proud of him and very happy for him. I taught my brother everything that he knows. ( I like to think I did ). He is now in the Navy now. He hated it at first (BOOTCAMP). But after being in the Navy for seven years now,he likes it. He has made friends and met people that he would've never met if he didn't join the Navy. And also just brought his first home last month. His home is not too far from the Naval Base in Lexington Park,Maryland. Lexington Park,Maryland is a nice neighborhood. My brother likes the neighborhood. Now if I can make time to have a house warming for him. This should be done hopefully sometime this month. He has a hectic schedule.

He is one of the sharpest,fun-loving,smartest and energetic guys that I know. I am so thankful to God for all the blessings that he has bestowed upon him. God has brought him from a mightly long way. So here are some pictures that your truly took at my brother's graduation-Watch out Hollywood. Im coming-2010. Congratulations again brother. Much success to you brother. THE BEST IS YET TO COME.

                                                 This is yours truly with my brother and our lovely mother.

                                This is my cousins Big Tim-Long and Foster Realtor and his young brother Little tim with my mom and my brother

                                     My mom's friend Ms.Joseline with my mom,brother and two cousins.

                              My mom's friend Ms.Joseline and my mom

                         Yours truly and my twin brother. Okay! We are not actually twins. But Danny Devito and Arnold Scwartgenerger got away with it in a movie and they aren't even brothers yet alone twin.

                           Mrs.Joseline,my brother and yours truly.                     

                           Does this pic look familiar?

To receive your free list of "Houses for sale in Washington,DC"please give me a call at your earliest convenience. I can be reached at (202) 378-0283 (Direct) or (301) 560-6700 x1154 (Office). I can also be reached online at www.buyandsellnewhomes.com/ Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan -Real Estate Professional with Exit Premier Realty. Buy a home in Washington DC

Yeah! Finally I have a new picture.

Now I am going to use this picture for now. I might end up taking another picture and put it in my profile. My last picture it didn't show me smiling. And I am a happy and fun-loving guy. But from my last picture,you couldn't tell. This picture is not great. But I think it is better than the last one I had here on Active Rain. But any advice on what kind of picture I should take on my profile? Me holding a baby? Me kissing a baby? Me holding a puppy? Me kissing a puppy? Me kissing Sanaa Lathan/Eve Mendes/Alicia Keys and/or Beyonce? Talk about having a fivesome. Is that even possible? ( Sorry readers. Please don't get the wrong idea. )

Or should I include a picture of my family? I am trying to do anything to help drive traffic to my blogs. So if you have any advice on what kind of picture I should put on here,I would really appreciate it.

To receive your free list of "Houses for sale in Washington,DC",please give me a call at your earliest convenience. I can be reached at (202) 378-0283 (Direct) or (301) 560-6700 x1154 (Office). I can also be reached online at www.buyandsellnewhomes.com. Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan-Real Estate Professional with Exit Premier Realty. "Buy a home in Washington DC"

I recently responded to a blog by one of many favorite bloggers here on Active Rain http://activerain.com/naoma So I noticed that I was one of the people that she tagged to write one. So he it goes Naoma. This one is for you and of course the rest of the Active Rain crew.

1. Who is your favorite musical artist? I don't have one anymore. I use to be a big Boyz II Men fan - I still like them. But I listen to more gospel music now.

2. Who is your favorite artist? I don't have one. Heck honestly speaking I don't know much about painting. We are talking about that kind of artist right?

3. Who is your favorite blogger? LOL. This is so unfair. This question should not be asked. But here are some of my favorites;

Elizabeth Ramsey Cooper Golden

Susan Mangigian

Mary Douglas

Gary White

Betina Foreman

Cynthia Tilghman

Gita Bantwal

Ray Nellum

Naoma Doriquzzi

Jennifer Fivelsdal

Barbara Carter

Frank Bailey

Margaret Woda

Patricia Kennedy

Okay! I'm stopping right here. If I don't,I am going to end up making a list of over 500 people. There are too many great bloggers here who I love reading their posts and support me as well.

4. If you could meet anyone ( alive or dead ),who would it be and what is the most interesting thing about them? The late great Rev.Dr.Martin Luther King Jr. And the most interesting thing about him is the"I have a dream" speech.

5. What did you want to be when you grew up? I wanted to be a Doctor. But something bad happened and I changed my mind. ( Long story ).

6. What is the most interesting piece of trivia that you know? None. Zilch. Nada. But I will challenge that Ken Jennings guy to a game of jeopardy anyday for the right price. ( I may end up losing but I want to get something out of the deal ).

7. If you could live in any point in history,what would it be and why? Good question but tough one to answer. I don't know. Maybe 1960's I guess. Visualizing something and actually knowing something are two different things. I can only imagine what my ancestors went through but what I have seen but I don't really know because I wasn't there.

8. What is the most interesting job you have ever held? Interesting? In my book,I am going to say Suck. So here it goes. I held a job for one day. ( New Guiness World Record ). I was supposed to sell like 50 cents and dollar toys to people. So here I am in the hot sun trying to sell toys to people who probably don't need them. Hey! I just wanted to make some money. You probably would've done the same thing too.

Now I am tagging

Elizabeth Ramsey Cooper

Ray Nellum

Frank Bailey

Barbara Carter

Jennifer Fivelsdal

Darleen Mccleen

To receive your free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reached at ( 202 )378-0283 ( Direct ) or ( 301 ) 560-6700 x1154 ( Office ). I can also be reached online at www.buyandsellnewhomes.com. Thank you very much. Looking forward to helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan- Real Estate Professional with Exit Premier Realty. "Buy a home in Washington,DC"

Prince George's County has a newspaper called "Women's Journal". While reading the newspaper,something caught my eye.

It said that Women account for over 85% of all consumer purchases

• 94% of Home Furnishings.
• 93% OTC Pharmaceuticals.
• 93% Food.
• 92% Vacations.
• 91% of New Homes ( I am not surprised at all )
• 89% Bank Accounts
• 81% Auto Purchases
• 81% Riding Lawn Mowers.
• 80% Healthcare.
• 66% PCs.

Women carry 76 million credit cards, 8 million more than men.

In 2001,US women's purchasing power constituted the number 3 market in the world;the collective buying power exceeded the entire economy of Japan ( That's interesting ).

By 2010,women are expected to control $1 trillion,or 60% of the country's wealth,according to research conducted by Business Week and Gallup.

Exit Realty Founder and C.E.O Steve Morris once said that "Real Estate is a women's business. Men just happen to be in it"-Isn't that the truth. And I just discovered a new niche to target my advertising: Women. These are good reasons why we need target women more when we advertise. Women have major buying power.

To receive your free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reached at ( 202 ) 378-0283 ( Direct ) or ( 301 ) 560-6700 x1154 ( Office ). I can also be reached online at www.buyandsellnewhomes.com/ . Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan - Real Estate Professional with Exit Premier Realty. "Buy a home in Washington,DC"

Most of the top producing real estate professionals who have been very successful in this business have a very effective marketing and business plan in place. Unlike some people who either plan and abandon it or dont plan at all,top producing real estate professionals always execute their plan.

 So here are some reasons why some people don't plan

 There is just not enough time to plan.

Some people have never planned before,so why should I start doing it now?

It is too time consuming.

People make out a plan. But they just don't use it.

But I believe that you can be very successful in your plans as long as you continue to plan and focus on the results. How are you going to get good business if you don't devise a plan that will bring your business? How do you approach someone about buying or selling a house if you don't plan/memorize what you are going to say to perfection? How can I sell something to someone if I don't completely know the product that I am trying to sell? How do I expect to rank high in search engines or expect people to find you on the Internet if you don't blog or market yourself online? We all know that 77% of first time homebuyers start their home buying process online. So if you are not online,chances of homebuyers finding you are slim to none.

We all know that things change our plans and we need to be flexible enough to cope with those changes e.g economic conditions,competitor activity or even the fact that what you originally planned isn't working. If your budget won't allow you to send out postcards or newsletters for now,send out mailers through www.lowesrealtorbenefits.com- ITS FREE. If you ran out of business cards or don't have any business cards yet,look up people in your database and send them e-mails to introduce yourself to them as a real estate professional or remind family members,friends and associates that you are still in real estate ( Sometimes people who know you forget what you do for a living or assume you have left the business because sales of homes are down in certain areas  ). Also you can look up people through www.zoominfo.com and send them e-mails introducing yourself and your business. Or go to www.salary.com and look up salaries of certain professions such as Doctors,Nurses,CPA and Vice Presidents of a company and send letters or your listings to them if they are not far from your farming neighborhood or area.They might not be interested in what you are selling,but I am sure they know somebody who might be interested in buying or selling a home. Plan your day everyday. If something is not working,revise it. But never abandon planning.  Someone here on Active Rain told me that "New business everyday will keep you in business. Always ask yourself "What am I doing to make my business bigger and better everyday?" If you fail to plan,you plan to fail.

To receive a free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reached at ( 202 ) 378-0283 ( Direct ) or ( 301 ) 560-6700 x1154 ( Office ). I can also be reached online at www.buyandsellnewhomes.com/ Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan - Real Estate Professional with Exit Premier Realty. "Buy and sell a home in Washington,DC"

          Home equity - falls below 50%

       Just what we needed.  More bad news when most homeowners are struggling to keep up paying on their mortgages. Now this. For the first time on record since 1945,homeowners percentage of equity in their homes has fallen below 50%. After saying just this,I don't even know if I should even say more. But maybe reading this,some homeowners might want to put their homes on the market hoping to at least get something out of the selling their home before it is too late. And with spring approaching soon and more home buyers looking to buy a home,this would be a great time for home owners to put their house on the market who have been hesitant to sell but was not sure whether they should or not. Homeowners will make up on the buying side what they are not going to get on the selling side. 

       In the second quarter of 2008,homeowners percentage of equity slipped to lower than 49.6%. It declined even further to 47.9% - the third straight quarter it was under 50%. This marks the first time that debt have exceeded equity since the Fed starting tracking data in 1945. This of course is terrible news for the hardworking american citizens who have worked so hard to own a piece of the American Dream.

       The total value of equity also fell for the third straight quarter to $9.65 trillion from a downwardly revised $9.93 trillion in the third quarter. Economists expect this figure to drop even further as declining home prices eat into the value of most Americans best investment. What's disturbing about all of this?Moody's Economy.com which is a trusted independent provider of economic analysis,data, and forecasting and credit risk services estimates that 8.8 million homeowners, or about 10.3% of homes,will have zero or negative equity by the end of the month. While around 13.8 million households or 15.9% will be "upside down"if prices fall 20% from the peak. This is not good news at all. We just have to pray that it gets better soon. We'll just have to wait and see how this all plays out.

To receive a free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reache at (202) 378-0283 (Direct) or (301) 560-6700 x1154. I can also be reached online on my websites www.buyandsellnewhomes.com and www.freelistofhomesforsale.com Thank you very much. Looking forward to working with you and helping you make your home purchase a stress free and very happy one. Lanre Folayan - Real Estate Professional - Exit Premier Realty. "Buy and sale a home in Washington,DC"

             Okay! So you are searching for a house for your clients to buy. You are searching on your local MLS until you come across a listing that you think would suit your clients wants,needs and lifestyle. The house looks great. Pictures looks so good you'd think Annie Leibowitz took the pictures of the listing. Virtual tour is courtesy of Point2Agent ( Shameless plug -Then again why am I even mentioning this company if I am not getting paid promoting them? ) Anyway,exterior and interior pictures of the house  looks very nice. So you and your clients go and view this property. On your way to the house,you are silently praying that they like this property because you have been working with themfor two years -two years too long if you ask me. What can I say some people just can't make up their mind when it comes to making a decision on something.

        You finally arrive at the place. Curb appeal alone can attract more bees than a bee hive would.  So you open the door.

And all of a sudden the house smells like a dead skunk 

  ( I couldn't find a dead one. But at least no animal was harmed while writing this post. ) Worse part? You don't know where the smell is coming from. How would you feel if you come back from a hard day of work only to be welcomed by a bad odor? Or you go to a friend,family member or neighbor's house and the house doesn't smell nice. Nobody likes a bad smell. I know I don't. So if you want to sell your house quickly,makes sure it smells good. Good smells attract home buyers to your listings. If you have to open the windows for some fresh air to come in,dump all the trash so no left over pizza or foods that have those awful are not in the trash cans. Plug a air freshner in the wall,spray air freshner or burn one of those scent candles. A house that smells good sells quicker than one that doesn't. Selling your home with a sweet scent makes a whole loooot of cents and sense.

To receive your free list of "Houses for sale in Washington DC",please give me a call at your earliest convenience. I can be reached at 202-378-0283 ( Direct ) or  ( 301 ) 560-6700 x1154 ( Office ). I can also be reached online at www.buyandsellnewhomes.com/ and www.freelistofhomesforsale.com  Thank you very much. Looking forward to helping you make your home sale or purchase a stress free and very happy one. Lanre Folayan - Real Estate Professional with Exit Premier Realty. "Buy and sell a home in Washington,DC"

Every home buyer looking to buy a house aren't just looking for a nice place to call home. They are looking for more than that. When you are out showing houses to your client or when you are holding a open house for one of your clients,try to sell them as much as you can about the neighborhood.

Doing that makes you look like a real estate expert in that particular neighborhoood. Clients will be impressed by your knowledge and they will feel very comfortable and safe that your are representing them as their buyer's agent or listing agent. So here are some of the things that you should really help sell your buyers and sellers on a neighborhood.

SCHOOLS - A family moving to a neighborhood wants to make sure their children are enrolled in a school where the test scores are high and they have a high graduation rate. A good website you can check is www.schoolsmatter.com 

CRIME STATISTICS - Everybody wants to live in a home that is located in a very safe neighborhood. ( But I will refer them to the police website and let them discover that one by themselves )

RESTAURANTS - People like to go out and eat. Whether it is anniversary,birthday,parties or something that people usually do once or twice a week.

SHOPPING - People love to shop ( Who doesn't )

HOME INVENTORY - People want to know if they are moving into a hot neighborhood. Also,they want to know if value of properties in the neighborhood are increasing. People who buy homes usually stay in their house five to seven years before they purchase another one. So even though you are just buying your home,you always want to think of resale value. Nobody wants to buy a home now and five years later down the road,there are no home buyers in the neighborhood. That's why its good and it is a must to always study your real estate market.

LOCATION - Everybody wants to live in a neighborhood that is a good location. To "buy a home in Washington,DC" can be a great investment. Washington,DC has just been named as one of the top cities for foreign investors. You can live with almost any imperfection in a home if you love the neighborhood and your neighborhoods. You can change everything else. But once brought,you cannot change your homes location.

ECONOMY/JOBS-More jobs in a neighborhood can help boost values of homes. It is said that there are 1.5 jobs for every single household.

TRANSPORTATION - People like to live not too far from home and close to the highway depending on how far they have to commute to work.

Knowing as much as you can about a neighborhood can help your clients buy and/or sell their home. It will make you look like the neighborhood expert that you say you are,your clients will be very impressed with your knowledge and professionalism that you displayed since you did a great job representing them,that not only will you get repeated business from it but lots of referrals as well. Don't we all want referrals? I know I do.

Looking for a Real Estate Agent that will help you buy and/or sell your next house? Want a "Free Real Estate Market Report" in your area of choice? Register on my website at DC Real Estate. I can also be reached at my new Active Rain Outside Blog www.GetDCSold.com -We will get it Sold. Your home that is. Twitter http://twitter.com/DCHomesforsale. Please give me a call at 202-378-0283 (Direct) or 301-560-6700 x1154 (Office) at your earliest convenience. Thank you very much. Looking forward to helping you make your home purchase or sale a stress free and very happy one. Have a great day. "Buy home Washington DC" Zip codes 20019,20020,20032,20011

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I just finished reading a post by Mrs.Tamara Inzunza Realtor -Alexandria,VA about your business plan which prompted me to review mine and see what I need to do to make it better. ( I track my business plan/goals every week ). Anyway,I was looking in my fast trac when I ran across this poem. It is by Edgar Guest. I really liked it. Sometimes things are not going our way and we need something to lift our spirits and motivate us. So I thought that I share this poem with you. I hope you all enjoy reading this.

                                                      EQUIPMENT

                                      Figure it out for yourself,my lad

                                     You've all that the greatest men have had,

                                     Two arms,two hands, two legs, two legs.

                                     And a brain to use if you would be wise.

                                     With this equipment they all began,

                                     Do start from the top and say "I can".

                                     Look them over,the wise and the great,

                                     They take their food from a common plate,

                                     And similiar knives and forks they use,

                                     With similar laces they tie their shoes,

                                     The world considers them brave and smart,

                                     But you've all they had when they made their start.

                                     You can truimph and come to skill.

                                     You can be great if you only will.

                                     You're well equipped for what fight you choose,

                                     You have arms and legs and a brain to use,

                                     And the man who has risen great deeds to do,

                                     Began his life with no more than you.

                                    You are the handicap you must face,

                                    You are the one who must choose his place,

                                    You must say where you want to go,

                                    How much you will study, the truth to know,

                                    God has equipped you for life,but He.

                                    Lets you decide what you want to be.

                                    Courage must come from the soul within,

                                    The man must furnish the will to win.

                                    So figure it out for yourself,my lad,

                                    You were born with all that the great have had.

                                    With your equipment they all began.

                                    Get Hold of yourself,and say: "I can."        

                                                   EDGAR GUEST                             

To receive your free list of "Houses for sale in Washington,DC"please give me a call at your earliest convenience. I can be reached at (202) 378-0283 (Direct) or (301) 560-6700 x1154 (Office). I can also be reached online at www.buyandsellnewhomes.com/ Thank you very much. Looking forward to working with you and helping you make your home purchase or sale a stress free and very happy one. Have a great day. Lanre Folayan -Real Estate Professional with Exit Premier Realty. Buy a home in Washington DC