I have just received a new designation, the SFR (Short Sales and Foreclosure Resource) Designation. I have completed live classes and online training to bring my clients the highest level of service with short sales and foreclosures. The National Association of REALTORS offers the SFR certification to REALTORS who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. REALTORS who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.In this market, I felt it was very important to be as knowledgeable as possible to help not only sellers in troubled times, but buyers as well. There are many aspects of a transaction that change depending upon the situation of the seller.

Regards,

Kirill Gorbounov

Saw a great blog on http://bengelblog.com/ and wanted to give kudos to it: 

No U.S. cities have been untouched by the economic downturn, but some job markets have been better able to weather the storm. U.S. News & World Report examined a variety of data to identify cities where it’s easier to find a job than in many other places. The underlying strengths of the top cities vary considerably. Some of the stronger cities are state capitals and have lots of government jobs. Others have abundant natural resources, stable housing markets, growing health care sectors, or are in close proximity to military bases.

But overall, what separates these communities from those that have been hit harder is a steady economy that protected them from steep unemployment.

Here, in alphabetical order, are the 10 cities that offer the most opportunities for job seekers:
1. Anchorage
2. Arlington, Va.
3. Columbus, Ohio
4. Honolulu
5. Houston
6. Oklahoma City
7. Salt Lake City
8. Shreveport, La.
9. Tallahassee, Fla.
10. Wichita, Kan.

Source: U.S. News & World Report

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

Tags: www.YourSkylineConnection.com; Kirill Gorbounov; Elena Gorbounova; kirill; kiril; gorbunov; Elena; gorbounov; RE/MAX; remax; allegiance; skyline connection; your skyline connection; Skyline; Skyline Square; Skyline House; Skyline Plaza; REALTOR; real estate northern Virginia; real estate; realestate; Skyline real estate; DC; Region; nova; northern; Virginia; sell; buy; sale; purchase; advice; realtor; advise; home; house; apartment; residence; own; purchase; rent; renting; landlord; tenant; fsbo; residence; condo; condominium; apartment; Skyline condos; Skyline mls listings; Skyline homes; Skyline homes for sale; Skyline real estate listings; skyline realtor; Skyline real estate agent; homes for sale in skyline; real estate agent; Alexandria; Annandale; Arlington; falls church; Fairfax; mclean; Springfield; city; county

2.  Long and Foster's sales volume per associate was $1,847,200.

     RE/MAX Allegiance associates average sales volume was $3,948,900.

These ARE the REAL number that can be seen in the REALTOR magazine. So, are we all equal? Are we all the same? Do extra classes, degrees, designations make a difference?

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

... At least some of our neighbors. CNBC ranked the states with the most millionaires by comparing to all households in the state and all three of our jurisdictions were in the top 10.

definition of a millionaire for the purposes of the study:  households with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). This year’s list shows that 5,139,385 American households — 4.46 percent of the total — were defined as millionaires.

From the Washington Business Journal:

The number of homes sold in Northern Virginia was up 10.55 percent in July over the same month last year, with units spending less time on the market.

A total of 2,053 homes worth $946.04 million were sold in Northern Virginia, according to Rockville-based market research firm Metropolitan Regional Information Systems Inc.

Homes spent an average of 62 days on the market — far less than the 91-day average in July 2008. Median prices rose slightly to $410,000 from $399,00 in 2008.

District homes spent 88 days on the market, far longer than Northern Virginia units. Though 28 percent more homes were sold in D.C. in July, compare to the sane month last year. The median price of $386,000 for the 648 units was an 8.57 percent dip from 2008.

In Maryland, Prince George’s County saw a sharp rise in the number of units sold – 720 homes compared to 409 units a year earlier, but despite the spike in sales, homes spent an average of 138 days on the market compared to 127 days a year ago. Median home prices were down 24 percent from $283,000 in July 2008.

Montgomery County home sales were up 30 percent from 2008 with 1,130 units sold in July. Though median sales prices were down to $375,000 from $408,000 a year ago, there was little change in the average days on the market. The average time was 93 days.

1. The government is looking to help first-time home-buyers with the $8K tax credit.

2. Interest rates are at record lows. 

3.  You still have to live somewhere - about 800,000 brand new households are formed each year in US meaning that the housing market will tighten.

4. You are leveraging your investment. If one puts $10,000 in stock and earns 10% then the gain is $1,000, but if one purchases a home for $100,000 and it increases by 10% then the gain is $10,000.

5. Fixed mortgage is the same month after month while everything else always gets to be more expensive.

6. There is something reassuring in the idea that your home is your own because you can paint it, hang a swing in the front yard for the kids and let the dog run in the back yard. 
   
   source: NAR

I found an absolutely Great Blog post by Cynthia Williams with Keller Williams - Baxter Village and I want all the Buyers to read it: 

"As I look back on my past years in real estate, I shake my head at some of the experiences I have had with buyers who really did not know how to work with a real estate professional.  Of course, we as Realtors see ourselves as important to the consumer as a doctor or lawyer or anyone else a person might need to make an appointment with to do business, but we often let ourselves be dictated by the consumer as to how the real estate experience will go and believe me this always leads to problems.  What am I talking about you might wonder?  Well, it is when the phone rings and a voice on the other end says “I would like to see the house on ABC Street at 4:00 pm today.”  As I try to explain to the voice on the phone that they need to come into the office first - Realtors call this CITO, I am often blocked with the response “No, I just want to see the house.”  In the early days of my career, I just wanted to get work, but after years of experience, I don’t POP Up and run out of the door anymore.  Why?  Well, let me explain the reasons why this type of real estate doesn’t work for the consumer or the Realtor.  First, as a professional, we are required to discuss what is called agency with everyone we meet upon first substantive contact.  That means when we meet them before we talk about anything real estate related we need to explain to them what it means to work with a Realtor and let them know they have a choice to be self-represented as a customer or agent represented as a client.  I have always meet this obligation even if it was going over agency while laying the paperwork on the hood of my car, but believe me, it is much easier sitting face to face in a conference room.  Why does this matter?  Well, several reasons come to mind which include professionalism.  As a consumer, don’t you want to work with a Realtor who is professional and who is doing everything they can to inform you and educate you in the buying process.  We tend to make better decisions when we can concentrate on what someone is saying.  Buying a home is the largest financial purchase you will make.  Don’t you want to do it the right way.  We don’t ask a doctor to come and do surgey in the driveway of his office.  Why should we expect a professional Realtor to move away from their method of practice?  One other reason is buyer pre-qualification with a lender.  Have you talked to a lender?  Do you know if you are ready to buy?  Do you know what your buying power is so we can work within your price range while looking for a home?  What type of loan will you be getting?  This helps with knowing how to make an offer on a home.  Nothing is more heart breaking to a buyer than to find a home and find out it is not in their price range or that they are not ready to buy yet.  I have found in my experience that a potential buyer who will come into the office and sit down and discuss their real estate needs are more serious about actually buying a home than the ones I ran out the door to go show a property to because they have taken the time to do their homework and to find out what they can afford.  Safety is also a big concern with Realtors and it should be with you also.  We all learn from crazy things we do, and I can tell you that I had a scarey experience about two years ago when I ran out the door to show one of my listings to a voice who called me over the phone.  After I got to the vacate house, I began thinking what was I doing going to a vacate house without getting the buyer to come into the office.  As I was just about to leave, a car drove up behind me and a man got out.  I was so scared I almost fainted.  I looked up to empower myself to show him I was not afraid; althrough, my knees were knocking and saw a man I recognized.  As we stared into each other’s eyes I realized it was my cousin whom I had not seem in 30 years.  Believe me, I was thanking God for this lesson and reunion at the same time.  I don’t do the POP Up thing anymore because it is just not safe.  No one wants to be put in danger.  The next time you want to take a look at a house remember that Realtors are professionals who deserve appointments with them as much as anyone else.  And lastly, for the buyers who say I will not commit to any Realtor except the one who finds me the house I want to buy.  Well, I could write a whole blog on this topic but to keep it short, I will say this.  The first time I meet with a potential buyer I encourage them to be a customer.  I don’t want them to feel commited to me unless they are ready to be commited to me.  After a day of looking at property, we all should know by the end of the day if we get along and have enjoyed working together or not.  I have been lucky in the aspect that I have always had the pleasure of upgrading the customers I have worked with to clients, but starting out as a customer gives the buyer and myself time to make sure we work well together.  As a client, I work for you and am commited to you and your best interest.  As a customer, I am not commited to you and you are not commited to me.  In my experience, customers want to be customers but they want the services of a client.  This can not happen and buying customers get upset when you have to keep reminding them that the law dictates how we handle customers and clients.  Signing a buyer’s agency is a good thing.  It means the Realtor is working for you.  Why would you not want someone to work for your best interest.  No Realtor is going to do the work for a customer in hopes of upgrading their relationship if they know the buyer is working with more than one Realtor.  It just doesn’t make sense.  What I have found from this is buyer customers become frustrated because they end up not making any headway in their new home search because a Realtors first priority is to thier clients.  So the next time you think about working with a Realtor, I hope you will remember that having a Realtor on your side is the best thing in the world when it comes to buying a home.  I have had the pleasure of becoming wonderful friends with all of my past and present clients.  God has sent some great people my way.  Understanding how to work with a Realtor can really be a huge benefit to you.  If you need more information on this topic, please contact me or any member of the real estate profession in your state or the National Assocation of Realtors."

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

May Update: Northern Virginia Real Estate

Compared to last year, same month, the average days on the market declined by 14% from 88 days to 76 days. Pending home sales went up by 22% from 2166 to 2637. Total Active listings are down 25% from 10757 to 8050 and the months supply inventory is down to 4.46 months from 6.24 - remember normal market is 6 months inventory according to NAR and as an example at one point there was 11 months of inventory in certain areas!!! The average sales price declined by 10% from 478672to 433257 (compared to same month of last year). The year to date sales are 11% higher than last year.

This data includes: Fairfax and Arlington, and the cities of Alexandria, Falls Church, Fairfax, and the towns of Vienna, Herndon and Clifton

Source: Northern Virginia Association of REALTORs.

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.

Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

Geographical Breakdown

* Northeast: The Pending Home Sales Index shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago.
* Midwest: The index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008.
* South: The index slipped 0.2 percent to 93.0 in April but is 3.5 percent higher than a year ago.
* West: The index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008.

NAR President Charles McMillan said there are numerous buyer assistance programs around the country. “Some states are offering bridge loans that allow first-time buyers to use the tax credit for downpayment and closing costs, but there are many other local government and nonprofit programs available to buyers, depending on location,” he said.

“Just last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans, to buy down the interest rate or make a larger down payment. Buyers who are wondering about their options should contact a REALTOR, who can advise consumers on the housing assistance programs and resources available in a given area.”

Affordable Housing
NAR’s Housing Affordability Index is in record territory. The affordability index rose to 174.8 in April from an upwardly revised 171.9 in March, which makes it the second-highest monthly reading on record after peaking at 176.9 in January of this year. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

A median-income family, earning $60,900, could afford a home costing $296,800 in April with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of that amount. The affordable price was well above the median existing single-family home price in April, which was $169,800.

Pending Vs. Existing Sales
Yun cautions that the reporting sample for pending home sales is smaller than that of existing-home sales, so it is subject to greater variability. “In addition, the relationship between contracts on pending home sales and closings on existing-home sales is taking longer than in the past for several reasons,” he said. “Mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment.”

The total number of existing-home sales is expected to improve but with dramatic local market variation in the timing of recovery. “The market has already bottomed in some areas, but this is an unusual housing cycle with some areas improving rapidly while others languish or decline,” Yun said.

Existing-home sales for May will be released June 23. The next Pending Home Sales Index will be on July 1.

Primary Source: Posted: http://bengelblog.com/; June 2, 2009 by Charlie Bengel, Jr.
2ary Source: NAR (06/02/09)

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

Don't shop for the lowest rate quotes. You need good advice from experienced, educated professionals.

 WASHINGTON (May 29, 2009) – Consumers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home. FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the FHA required 3.5 percent, cover closing costs, or buy down their interest rate. “A true housing recovery depends on buyers returning to the market and reducing inventory,” said National Association of Realtors® President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Since many of the homes available are lower priced starter homes, the ability for individuals to use the tax credit at closing should have a meaningful impact on home sales and values and will allow thousands of families to achieve the dream of homeownership.” Shaun Donovan, secretary of the Department of Housing and Urban Development, announced the change today. In an address to several thousand Realtors® gathered two weeks ago at NAR’s Real Estate Summit: Advancing the U.S. Economy, Donovan announced HUD’s plan to offer the tax credit as downpayment assistance. Donovan detailed the modifications to that original proposal and announcement. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans allowing eligible home buyers to access the funds immediately at the closing table. NAR has supported monetization of the tax credit, which was part of an Obama administration housing stimulus plan enacted earlier in the year. NAR petitioned HUD to allow home buyers to use the $8,000 tax credit to help them cover downpayment or closing costs to bring new home buyers to the market and stimulate home sales. “We think this is a good program; our members have been getting many inquiries from potential buyers about it,” McMillan said. “NAR is pleased that this enhancement has been made to the administration’s housing recovery program. As we have heard before, there can be no economic recovery without a housing recovery. With an abundance of inventory, reduced home prices, historically low interest rates and now the availability of the tax credit at closing, we expect to see the housing market further stabilize and improve.”

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

A rescue plan set by the Obama Administration is in motion to help Americans keep their homes. There are options and one needs to explore them. Click on "Late on Mortgage" to see access federal and state resources!!! If you can no longer make home payments, knowing how to negotiate a short sale, and when it’s right to start considering one, may keep you from falling into foreclosure.

Ki Gray’s blog explains the details of short sales:

“A short sale is when a lender agrees to take less than the principle due on your home to release you from the debt obligation. In today’s Real Estate market, many cities are experiencing financial hardship. Financial hardship leads to bankruptcy and foreclosure. Bankruptcy and foreclosure often lead to short sales. Of course, there is no need for a short sale if you can afford to leave your home on the market. You want to get the most money possible in the sale of your house. Probably the only circumstance under which you should consider a short sale is when you are desperate to sell your home. It may be that you are financially able to weather the loss, but, more likely, a short sale is due to financial hardship.”

Effects are difficult to determine as government and lending institutions may change in the future. The Homeowner Affordability and Stability Plan (HASP) from the Obama Administration is expected to aid 7 to 9 million. Be proactive and speak to your lender.

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

WASHINGTON – When the nation’s in pain, Washington often gains. Whether it’s a buildup of Civil War troops, Depression-era bureaucrats or defense contractors after Sept. 11, the region has prospered in times of crisis. Today, the financial meltdown is delivering a jolt of its own. Lawyers, lobbyists and public relations experts — many of whom live and work in Virginia and Maryland suburbs — are benefiting as companies from Wall Street to Motor City seek a piece of Washington’s $700 billion financial bailout, and try to influence any regulatory strings attached. Business is also percolating as President-elect Barack Obama prepares an economic stimulus package comprised of infrastructure spending and tax breaks that could exceed $800 billion. “There will be a mad rush to have influence on where that money should go,” said David Rubenstein, co-founder and managing director of The Carlyle Group, the Washington-based private-equity firm whose partners include former high-ranking U.S. and foreign government officials. Far from struggling, the Washington region could be on the verge of “boom times,” Rubenstein said. At the very least, the expanding federal government — which has added more than 7,500 jobs in the Washington region over the past decade — is helping to insulate the area’s economy and its 4.5 million residents from the worst effects of the recession. Annual military and homeland security spending has risen sharply since Sept. 11, leading to years of prosperity for the region’s consultants and contractors, including well-known defense companies such as Lockheed Martin Corp., of Bethesda, Md., and General Dynamics Corp., of Falls Church, Va. Now, as Uncle Sam mounts a multitrillion-dollar effort to rescue the country from its worst financial crisis since the Great Depression, some companies based outside the region are beefing up their Washington offices. Local business leaders say the influx of influence-peddlers, combined with leadership changes in the White House and Congress, could provide a small lift to the region’s commercial and residential real estate markets, which are hurting like everywhere else. To be sure, the region is not immune to the recession. Retailers are struggling, tourism is flat, unemployment is on the rise (particularly within D.C.) and municipal budgets are strained. Washington is facing a $127 million budget gap, while neighboring Virginia and Maryland face even steeper shortfalls. Some well-known companies based in the region, including Sunrise Senior Living, XM Satellite Radio, the Carlyle Group and the Washington Post Co. have been forced to lay off staff or ask workers to take early retirement. However, the mood among many business leaders — especially those connected to federal lobbying and contracting — is upbeat compared with the rest of the country. The Washington offices of companies seeking bailout money will be transformed into “mini headquarters,” said Stanley Collender, managing director at Qorvis Communications, a consulting firm. “There’s a sense of unprecedented realignment” thanks to the turnover in the White House and Congress, said Beth Solomon, a recruiter who works for lawyers and lobbyists. Washington and its suburbs gained 31,000 jobs over the 12-month period that ended in November, according to the Bureau of Labor Statistics. Losses in construction and retail jobs are being offset by gains in federal government positions as well as health and business services, according to senior fellow John McClain of George Mason University’s Center for Regional Analysis. Those gains come as most major metropolitan areas shed thousands of jobs. McClain predicts positive job growth for the Washington area in 2009, too — though he expects it will weaken to about 20,000 new jobs. The region’s unemployment rate of 4.4 percent in November, while edging upward, is the lowest among metropolitan areas with a population of at least 1 million, tied with Oklahoma City, according to the most recent Labor Department data. Nationally, the unemployment rate was 7.2 percent in December. With government workers and contractors accounting for roughly one-third of the job force, Washington tends to prosper in times of crisis. During the Civil War, the modest city grew as the government swelled to administer the war and soldiers arrived to protect the capital. The federal work force expanded again during the Great Depression under President Franklin Roosevelt’s New Deal, and the Pentagon was constructed during World War II. The Department of Homeland Security was created after Sept. 11, leading to another burst of hiring, and the wars in Iraq and Afghanistan expanded the Pentagon’s budget to $612 billion in 2009, compared with $310 billion in 2001, before the attacks. Booz Allen Hamilton Inc., a large consulting firm based in McLean, Va., expects to end the fiscal year more than 15 percent ahead of last year’s revenue, in part because of growing demand for financial services experts as regulators and Congress pursue banking reforms, spokeswoman Jennifer Rogers said. Jon Wohlfert, with the corporate housing company BridgeStreet Worldwide, said he has seen a recent upswing in bookings from consulting companies such as Ernst & Young and Deloitte that are looking to bring workers to the area. While preliminary data from the city’s tourism bureau indicates the number of visitors to the nation’s capital was essentially flat in 2008, the city is anticipating a population burst of at least 1 million for Inauguration Day, Jan. 20. “This is our Olympics,” said Jim Dinegar, president and chief executive of the Greater Washington Board of Trade. Yet even these advantages only go so far in a downturn this severe. Foreclosures and declining home values have plagued portions of Washington’s suburbs. And while the real estate market in Washington and its close-in suburbs has been more resilient because of limited building space and the lure of easier commutes, demand has cooled. Even so, the city’s office vacancy rate is only about 7 percent, a strong number in good economic times, according to Neil Albert, D.C.’s deputy mayor for planning and economic development. Albert, like others in the business community, said being so closely linked to the federal government is a good place to be these days. “They’re not going to pick up and move overnight,” he said.

source: msnbc.com

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782

Metropolitan DC Region ranks 2nd after San Jose, lagging $593, among all U.S. metropolitan regions in median household income according to  U.S. Census data. We are 64% above the national average of $50,740.

In addition to spotlighting our region’s economic strength, this latest data provides a strong indicator of the region’s attractiveness to a highly-educated workforce. Greater Washington continues to attract and retain the best and brightest,” said Matt Erskine, executive director of the Greater Washington Initiative.

Median Household Income –   Regionally:

~Kirill Gorbounov, REALTOR®, CDPE, GREEN, e-PRO.
cell: (571) 276-0986; mailto: YSC@YourSkylineConnection.com
~Elena Gorbounova, REALTOR®, Associate Broker, ABR, ASP, GRI, LL.M.
cell: (703) 625-7888; mailto: ElenaDeibes@aol.com
www.YourSkylineConnection.com - BLOG/TRENDS/STATS/Reaearch on Metro DC Region and Northern Virginia (Knowledge is Power)
RE/MAX Allegiance; 6226 Old Dominion Dr., Mclean, VA 22101
Office: 703-237-9500; E-Fax: 1866-821-0782