The Eric Stewart Group Blog
Trusted resource for local and national real estate news and trending topics, and everything you need to know about the buying and selling process.
Hear from Realtor® and Director of Operations Robert Garcia on a few real estate market updates, including inventory levels and new standards for refinancing! This is usually a time when Washingtonians take some time off and rest, including within the real estate market. But this year is different. Freddie Mac and Fannie Mae have decided to implement a new policy affecting new borrowers and refinanciers: starting September 1, if you are refinancing a house you will see an increase of 50 basis points. This means that lenders are going to start charging an additional fee. My understanding is that this is going to be a standard fee. I highly encourage you to look for different lenders and different opportunities that will cover these additional fees. We have a very tight inventory for homes not just in the DMV area but in the whole nation. The real estate market has not seen a typical ‘V’ recovery; they’re now saying it looks like a ‘K’ recovery. Be aware that if you’re looking to buy or sell a piece of real estate or become an investor, give us a call so we can help you with these market changes. Call us at 1-800-900-9104!
If you’ve been able to keep track of the days, you know we’re going into the seventh month of the COVID-19 pandemic. While different states are in different phases of reopening, there’s plenty of places gradually opening back up while adhering to CDC guidelines. We’ve found some great parks, museums, restaurants, and other places to visit in the DMV if you feel safe and comfortable returning to these activities. Before planning your visit to any of these places, make sure you know what the current rules and restrictions are still in place for that area. DC is currently in Phase Two, while Maryland and Virginia are in Phase Three. Visit Victura Park at the REACH. This outdoor pop-up wine garden and cafe is the perfect way to spend your Labor Day Weekend! You can enjoy wine, beer, and family-friendly snacks while maintaining a safe social distance. Grab food from Union Market. This DC favorite is open again for pick-up and delivery, as well as some outdoor seating. You can order online for a variety of restaurants, coffee shops, cafes, and grocery stores. Check out their website to see which businesses are back open! Visit the National Zoo. The ever-popular National Zoo is open once again for visitors. They are maintaining the highest standards for safety, including limited capacity, one-way traffic, enhanced cleaning, and social distancing. Make sure you pass by the Cheetah Conservation Station to see the 4.5 month-old cheetah cubs! And if you aren’t quite ready to visit such a popular public space, you can keep up with the zoo’s newborn panda cub on their Giant Panda Cam! Go for a hike at Rock Creek Park. There are over 32 miles of hiking trails open at Rock Creek Park, a beautiful oasis within DC. While there are still some closed areas within the park, all hiking trails, playgrounds, and some exercise facilities are open for your enjoyment! See art and nature come together at the Glenstone Museum. You can enjoy the beautiful blend of art, architecture, and nature at this museum in Potomac. The Glenstone Museum has several guidelines in place–including limited capacity, group sizes of five, and staggered arrival times–so you can experience art and landscape with peace of mind. Stroll through Annmarie Sculpture Garden & Arts Center. This center is excited to welcome back visitors to its Sculpture Path, Murray Arts Building, and Fairy Lolly Creative Play Space. Guests can feel safe while enjoying the art and nature while socially distancing.
Our Market Ready Guide provides strategic advice and useful tips to get top dollar for your house when the time comes to sell.
Realtor® and Associate Broker Eric Stewart recently discussed updates in the real estate market on 105.9FM WMAL. Check out the videos and descriptions below to hear what Eric says about surprise changes to the market! Eric Stewart Discussing the Jump of Home Sales from April to May A rebound in the home sales market is underway with pending home sales jumping 44% from April to May. Realtor Eric Stewart, host of the Eric Stewart Show here on WMAL, says the numbers are good news. “We had a drop in the month of April, so May’s spike was in comparison to April’s drop, and therefore it really was more in line with a typical month of May. We would typically see the kind of sales in the month of May that we saw this May which was a wonderful surprise," Eric says.
With COVID-19 constantly dominating the news, it’s hard to come by good, light-hearted stories. But happy stories are out there! We put together this list of some happy and fun stories around the DMV that we hope brighten your day. It’s important to remember that there’s still life to enjoy amid the coronavirus, and these stories provide that exact reminder. Stevensville Woman Offers Passersby Free Flowers In Stevensville, MD, a woman named Rona Werner has set up a table of flowers at the end of the driveway and offers them to passersby for free. She said, “I thought in this time of the pandemic, there’s so much sadness, it would be nice for people to feel joy.” A small act of kindness goes a long way, and we love the simplicity of this act of generosity! Kids Read to Therapy Dogs The DC nonprofit People Love Animals has had to add over 120 new reading slots to their now virtual program because so many kids are signing up to read to therapy dogs! Unique Way to Encourage Social Distancing Fish Tales, a bayside restaurant in Ocean City, MD, is rolling out bumper tables to ensure social distancing as they open back up for dine-in business. The tables, made by a company in Baltimore, are a fun and creative way to keep people six feet apart! Montgomery County Almost Ready to Open Here’s some great news for Montgomery County residents! The county has seen a decline in COVID-19 cases, deaths, and hospitalizations over the past two weeks and will most likely reopen gradually over the coming weeks.
Every aspect of life has been affected by the Coronavirus pandemic. The way we connect with others, the way we shop for food, the way we work, and more have changed in the face of this novel virus.