Home is where the Real E$tate is by Fergus

Introduction If you're thinking about buying or selling a home in the DC metro area, here's a rundown of what is happening in our market. As we head into the official summer of 2025, the answer is layered—but ultimately encouraging for both buyers and sellers, depending on your goals. Here's a full breakdown of what’s happening across the DMV, from inventory and pricing to standout neighborhoods and smart buying opportunities.  📊 Where the Market Stands: Inventory, Pricing & Activity After years of historic tightness, inventory across the DMV is  starting to loosen up —but remains below pre-COVID norms. In DC, there are now about  3,100 homes on the market , which is up about 7% year over year. Bright MLS expects a  7.9% increase in total DMV home sales  by the end of the year, so buyer activity is clearly in motion. Home prices  are holding steady or ticking upward. In May: Median home price in DC : ~$710,000 (up ~3% YOY) Typical time on market : ~38–...

Introduction If you're renting in the DMV—maybe paying around $2,700 a month—you’re not alone. But if you’ve been wondering whether that same monthly cost could be building equity in a home instead of paying someone else’s mortgage, it may be time to explore your options. As a local realtor, I’m not here to give financial advice or tell you what you can afford—but I can help you understand what questions to ask, what programs are out there, and how to connect with the right people who can guide you through the numbers. With that being said I am using a hypothetical amount for illustration purposes. There are some who pay less and some who pay more, of course. 📌 Mortgage Rate Snapshot (June 2025) Washington, D.C. area averages: 30-Year Fixed: ~7.25% 15-Year Fixed: ~6.25% National average (30-Year):  ~6.85% 📉 Rates have dipped slightly, but remain elevated compared to past years. Buyers are exploring smart strategies to make ownership more affordable and conversely there are renter...

Introduction As a proud gay-owned real estate business serving D.C., Maryland, and Virginia, Pride Month is more than just a celebration—it's a reaffirmation of our commitment to equality, community, and the fundamental right to a safe and welcoming home for everyone; gay, straight or otherwise. This year, Washington, D.C., is hosting  WorldPride 2025 , marking the 50th anniversary of Pride celebrations in our nation's capital. The city is alive with vibrant events, from the WorldPride Parade and Festival to concerts featuring recording artists/stars of the big screen like Cynthia Erivo, Jennifer Lopez and Troye Sivan.  Yet, amid the festivities, there's an undercurrent of grave concern and anger. Recent policy shifts under the current administration have rolled back several LGBTQ+ protections, including those related to housing and public accommodations.. and the madness is set to continue. 🏠 The Ongoing Struggle for Fair Housing Despite progress, housing discrimination r...

💡 Introduction  The post-pandemic market created rapid home price growth and intense bidding wars. Some sellers are still anchored to those highs. But the landscape in 2025 looks different: Mortgage rates remain elevated, limiting buyer budgets. Affordability is front of mind, especially for first-time and move-up buyers. Buyer expectations are shifting—and they’re more value-conscious than ever. Still, many sellers want to push pricing to its limit, risking a mismatch with market conditions. For my part, I just lost out on a listing in Georgetown because we didn't see eye to eye on price strategy and the likely sales price. With few buyers looking, I wanted to list it below $1M rather than just above—because even in this market, the more eyeballs you attract (think buyer searches with a cap of $1M), the more likely you are to sell, either at the asking price or above.  Since no one really knows what a home will sell for, it's more important than ever to start with a reasonab...

Introduction   What happens when AI doesn’t replace the human touch—but strengthens it? In this follow-up to my first post on AI and real estate, I’m diving deeper into how today’s smart tools are quietly reshaping the client experience—from more intuitive home searches to data-backed decisions and streamlined closings. As a Realtor® in the DMV (DC, MD, VA), I see every day how technology can empower buyers and sellers without removing the personal guidance that matters most. Here's how AI is making real estate more human, not less. 🧠 Smarter Search, Tailored to You In the past, home searches meant scrolling through endless listings and filtering manually. Today, AI is helping make that process faster and more aligned with your real needs. Search platforms now  learn from your preferences  and suggest listings that match your style and priorities. Photo recognition tools  can identify features you’re drawn to—like bay windows, big kitchens, or historic details—and...

Introduction AI can tell you how many bedrooms… But only a human can tell when the kitchen  “just feels right.” As the real estate industry continues to evolve, one thing is certain: technology—and especially artificial intelligence (AI)—is changing the way we do business. From smart search tools to automated valuation models, AI is helping buyers and sellers make more informed decisions faster than ever before. But here’s the truth that technology can’t change:  real estate is, and always will be, a people business. How AI Is Changing the Game There’s no denying the impact of AI in real estate. Today’s buyers can use AI-powered platforms to browse listings that are curated based on their preferences, budget, and behavior. Sellers benefit from data-driven pricing strategies, predictive analytics, and virtual staging tools that help market properties more effectively. Even back-end processes—like scheduling, paperwork, and client follow-ups—are becoming more efficient thanks to...