Okay, Okay – I saw a buncha my Realtor comrades grab a recent report from the BH&J Index – headlined: US Housing Market Moving into “Buy Territory.”

Well, the problem I have with that type of statement is that it treats the whole NATIONAL real estate market like it’s a stock. You know – like Ford, Apple or JC Penney. Well – it’s not. I’ve always said and will continue to stick to this gun – DON’T MAKE A LOCAL REAL ESTATE DECISION BASED ON NATIONAL INFORMATION. Oh, I’m sorry – did my CAP key get caught there?

Seriously, while this “national” index may be pointing to a “buyers” market “across the country,” don’t start writing contracts below asking price in the D.C. market. We currently are under a 1.6 months supply of homes – very hot! You will be a bidder, not a buyer. And don’t underwrite contracts in these other 5 Hot Markets, according to the National Association of Realtors. Until next time!