Blake Settle, Licensed Realtor

Blake Settle, Licensed Realtor Your Local DMV Real Estate Expert.

Need help deciding on a new headshot - 1️⃣, 2️⃣, 3️⃣ or 4️⃣?Which photo looks the least mid-life crisis? Drop a comment ...
02/02/2024

Need help deciding on a new headshot - 1️⃣, 2️⃣, 3️⃣ or 4️⃣?

Which photo looks the least mid-life crisis? Drop a comment below because I don't find myself photogenic at all and apparently I'm aging like milk and not fine wine like they promised me 🤣😭

Fresh haircut = 72 hours of invicibility. Triple digit vehicle speed activated ...
01/16/2024

Fresh haircut = 72 hours of invicibility. Triple digit vehicle speed activated

December 2023 - NVAR Region & Washington, D.C. So, what can we gather from these statistics? We all know that housing in...
01/16/2024

December 2023 - NVAR Region & Washington, D.C.

So, what can we gather from these statistics? 

We all know that housing inventory is still down by ~23-25% and that fewer homes are selling year-over-year by 5-16%, respectively, in Washington, D.C. and Northern Virginia. Northern Virginia continues to be a resilient, high-demand market, boasting a 12.5% increase in median home prices since last December. Median home prices in the District have more-or-less flatlined most of this year, stabilizing around a 1-3% fluctuation month-over-month. 

In Washington, D.C., monthly contract activity resulted in a Contract Ratio ( # of pendings per active listing) of 0.57, up from 0.53 in November 2023 and 0.50 in December 2022. 

In the NVAR region, the contract ratio was 0.87! A higher contract ratio signifies a relative increase in contract activity compared to supply, which may indicate that we are moving towards a market that favors sellers. A lower contract ratio signifies the opposite - a decrease in contract activity compared to supply, which indicates a buyer's market. 

Markets can't be predicted with absolute accuracy, but patterns can be detected. Home values to continue to increase in Northern VA, despite high interest rates and low inventory. An increase in supply and lower interest rates will inevitably attract more buyers, increase overall buyer demand (your competition) and will support increasing home values. A high interest rate can be refinanced, overpaying for a home can not. 

Are you taking the necessary steps to ensure you secure a beautiful home at a fair price? The buyer advantage is slowing diminishing. Don't wait until everyone is in the market for a new home to get started with your search. Nobody likes to lose a bidding war :-(

*national predictions listed above ⬆️ My *SUBJECTIVE* predictions for the DMV metropolitan region: Despite a ~22% decrea...
01/11/2024

*national predictions listed above ⬆️

My *SUBJECTIVE* predictions for the DMV metropolitan region:

Despite a ~22% decrease in activity in 2023 compared to the previous year (per Bright MLS), there is still a strong demand for home ownership in Northern Virginia and NW DC proper, with 40-50% being first-time homebuyers. Alexandria and Arlington will continue to be high-demand markets due to their centrally located, psuedo-urban, highly walkable atmospheres and easy access to the public transportation while suburban areas such as Manassas, Reston, Ashburn, Culpeper, etc. may also thrive in 2024 due to their overall affordability and lower barrier of entry for new buyers.

Many current homebuyers are hesitant to list their homes if they are still "locked in" at ultra low 3-4% pandemic interest rates (understandably so), but I believe we will still see a 8-9% increase in home sales in Q2/Q3 once rates drop back down to around 6%. The DMV is typically resilient in tough markets, so I would expect closer to a 2-3% increase in median home values. Expect slightly lower numbers, comparatively, for Washington, D.C. Either way, as a buyer, securing a favorable price through skill agent negotiation and then refinancing later when rates drop and home prices increase will be an optimal strategy.

Rent increases will also continue to rise, although we may see a shift towards developers focusing on building more family-friendly units such as 2-3BR homes, while continuing to increase monthly rents while decreasing square footage on one-bedrooms and studios.

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#2024

Hi Guys,I'm happy to announce that I'll be transferring my license from eXp to Pearson-Smith Realty and joining a new te...
01/09/2024

Hi Guys,

I'm happy to announce that I'll be transferring my license from eXp to Pearson-Smith Realty and joining a new team called Properties and Estates, at Pearson Smith Realty. Please save my new work line and email address :-) Excited to hit the ground running.

❗️BACK ON MARKET WITH A 20K PRICE IMPROVEMENT❗️📍3032 Clinton St NE, Washington, D.C. 20018Stunning, renovated 4-Bedroom/...
01/06/2024

❗️BACK ON MARKET WITH A 20K PRICE IMPROVEMENT❗️

📍3032 Clinton St NE, Washington, D.C. 20018

Stunning, renovated 4-Bedroom/3-Bathroom SFH (1,862 ft²) in the Woodridge subdivision of the NE quadrant. An absolute hidden gem in a highly sought-after community

$749,999 ➡️ $729,000

✅️ Chef-inspired open-concept kitchen w/ island
✅️ Large 6,450 ft² lot with fenced in backyard
✅️ Single-car garage + private driveway (3+ parking spaces)
✅️ Front porch, side deck, back patio
✅️ Two sets of washer/dryer
✅️ Finished walk-out basement + rec room
✅️ Less than two miles away from Brentwood and Brookland metro stops

📞 Contact me to schedule a showing (202) 509-9163




Happy New Years DMV! Cheers to a fresh start as we head into 2024. This week we have a two-stack of featured local listi...
01/02/2024

Happy New Years DMV! Cheers to a fresh start as we head into 2024.

This week we have a two-stack of featured local listings:

(1) First is a gorgeous, fully renovated one-bedroom condo in Glover Park, Washington, D.C. (NW quadrant).

📍4100 W Street NW #415, Washington, D.C. 20007

✅ Open-concept floor plan on 4th level (740 square feet)
✅ Condo fee includes ALL utilities and window maintenance
✅ One assigned parking space and extra storage available
✅ Rooftop deck area (and roof replaced in 2023)
✅UNBEATABLE location in a high-demand subdivision.
✅ Easy access to the metro, walking trails, Whole Foods, CVS, Trader Joe's and much more

💲Listed at $319,900 - contact me to schedule a tour! 🏠
📞 (202) 509-9163

(2) Next, we have an immaculate row home in the Eckington neighborhood of Washington, D.C. (NE quadrant)

📍209 R Street NE, Washington, DC 20002

✅Modern, urban-style 3BR/1.5BA row home (1,480 square feet)
✅Fully renovated in 2023 - exposed brick, luxury vinyl plank flooring, designer stone countertops, and stainless steel kitchen appliances
✅Spacious backyard with private deck
✅Situated on a quiet, one-way street just minutes from Union Market, Treehouse, O-Ku, Bistro Cacao, Carving Room, and much more!
✅Competitively priced! A commuter's paradise - transit score of 76, walk score of 81 and biking score of 96!

💲Listed at $675,000 - contact me for additional listing details! 🏡
📞(202) 509-9163

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Address

7902 Tysons One Place
Tysons Corner, VA
22102

Telephone

+15715260873

Website

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