John Akhavan Real Estate Agent

John Akhavan

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A Cool Down Coming? Mortgage Demand Drops For Second Week

By UrbanTrufStaff - June 02, 2021
There are a couple signs emerging that homebuyers are finally getting fed up with the high prices and low supply plaguing the market. Mortgage applications dropped 4% last week from the previous week, according to the Mortgage Bankers Association (MBA). Applic ations fell for the second week in a row and dropped to the lowest level since early 2020. "Tight housing inventory, obstacles to a fas
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Mortgage Interest Rates Move Higher - Mar 24

By CNET Staff - March 24, 2021
Today a handful of major mortgage rates inched upward. If you're shopping for a home loan, here's how your finances could be affected. A variety of significant mortgage rates inched up today. The average interest rates for both 15-year fixed and 30-year fixed mortgages both grew. The average rate of the most common type of variable-rate mortgage, the 5/1 adjustable-rate mortgage, also increased.
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Private Rooftop Pool for this $12M Condo with Kennedy Center Views

By UrbanTurf Staff - March 18, 2021
Two months after the priciest condo ever to be listed in DC hit the market, another Georgetown condominium is nipping at its heels. The penthouse duplex at the Residences at Harbourside (map) hit the market this week with a $12 million price tag, making it the second most expensive condo to be listed in the city. The condo is listed with Terri Robinson of Long & Foster. The focal point o
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Former AOL Executive Finds Buyer For $7.5 Million Georgetown Home

By UrbanTurfStaff - February 22, 2021
AOL is in the DC real estate headlines again. Former AOL and IBM executive Michael M. Connors has found a buyer for his nearly 7,000 square-foot, $7.5 million Georgetown residence at 3147 P Street NW (map). The home is listed with Jamie Peva of Washington Fine Properties. The five-bedroom house has a grand interior with decorative pillars, ornate fireplaces, archtop built-ins, skyligh
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$2 Million and Up: Luxury Home Sales in DC Rise 24% in 2020

By UrbanTurfStaff - January 15, 2021
2020 was one of the best years on record for luxury home sales in the District. An analysis by UrbanTurf, with data provided by Bright MLS, found that 278 homes in DC sold for above $2 million last year, a 24% increase compared to 2019. The number of luxury home sales amounted to about 3 percent of total sales in the city last year, a percentage that is in line with previous years. As for wh
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$18 Million: DC’s Priciest Condo Ever Hits the Market in Georgetown

By UrbanTurfStaff - January 12, 2021
DC has been known as a city where the highest price tags for residential real estate belong to single-family homes. That just changed. A penthouse at the Ritz-Carlton in Georgetown hit the market on Tuesday for $18 million, which is the most expensive asking price on record for a condo in Washington, DC. The condo is listed with Mark Lowham and Matt McCormick of TTR Sotheby's International Realt
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DC’s Median House Price Rises Above $1 Million For First Time in October

By UrbanTurf Staff - November 11, 2020
DC home prices set two records in October The median home price came in at $675,000, a year-over-year increase of almost 17% and $15,000 higher than the previous record home price for the city, according to a new report out today from Bright MLS. However, prices for single-family homes in the city went through the roof. The median price for a single-family home crossed the $1 million t
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Virtual Tours of 25 DC Area Developments

By UrbanTurf Staff - October 30, 2020
Below UrbanTurf has compiled virtual tours from large new developments around the DC region, as well as links to information about those projects, allowing readers to check out these new residences from the comfort of their home. DC Watkins Alley Watkins Alley is a new Capitol Hill development at 1309-1323 E Street SE (map) consisting of 44 condominiums and townhouses. The residences are s
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Did DC Have a Condo Boom in September?

By UrbanTurfStaff - October 16, 2020
Earlier this week, UrbanTurf reported on new housing data for the DC region that revealed a robust market in September that was largely the result of the strength of the condo and co-op sector. With the help of Bright MLS, UrbanTurf dug into the data to provide a little more context to the boom. A look at condo and co-op sales around the city reveals two things. First, there was indeed a huge ye
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How Will Recession Affect My Home Purchase?

By John Akhavan - July 13, 2020
It’s well known that the housing market is heavily influenced by the economy — especially local economies. When the economy is strong, people have more money for large purchases and investments in real estate. When things are tighter, though, a lot of prospective homeowners may start to ask whether they’re really ready to take on such a potentially large debt. If you’ve been thinking of buying a
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A Condo Fee Tutorial

By UrbanTurfStaff - June 25, 2020
When searching for a condo or co-op, one of the first things buyers look at are the monthly fees. High fees can be a turn-off, but they can also be an indication that a building is in good financial health. In addition to amenities, condo fees typically cover payments for a reserve fund (a fund for major building repairs or improvements), a master insurance policy, maintenance, trash removal and
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Spring Cleaning Has Never Been So Important

By US Inspect - April 23, 2020
With COVID-19 health concerns, cleaning and disinfecting is even more important. The CDC provides guidelines for everyday cleaning, along with extra steps to take when someone in your home is sick. - Clean surfaces with soap and water first to remove dirt, then disinfect - Diluted bleach solutions can be used, but make sure it has not expired - Leave solution on surfaces for at least 1 minute - A
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