John Akhavan Real Estate Agent

John Akhavan

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Amazon's HQ2 Grows With Hotel Deal in Pentagon City

By Bryce Meyers - Costar News - September 23, 2020
E-commerce Giant Pays $148.5 Million for Residence Inn by Marriott Amazon has acquired the Residence Inn by Marriott in Arlington, Virginia, with plans to demolish the hotel and incorporate the site into the second phase of its headquarters campus. The e-commerce giant, through its subsidiary Acorn Development, finalized a $148.5 million deal with Blackstone Group to acquire the 16-story hotel
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Suburban Real Estate Booms As Families Look for More Space

By John Akhavan - September 20, 2020
With changing work and study needs, families looking for more space are turning to the suburbs, reversing a 20 year long trend toward urban walkable living. Six months of tele-working has shown that employees can work effectively from home and whiile in-person meetings are occaisonally necessary, they are not required daily. The prospects of lower overhead costs are prompting companies to end
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Mortgage Refinancing Will Be More Expensive as Fannie Mae and Freddie Mac Raise Fees

By Diana Olick - August 13, 2020
Consumers will have to pay more to refinance their mortgages after Fannie Mae and Freddie Mac announced that they are raising fees for lenders on the loans. The change is designed to shield the two entities from the additional risk brought on by the coronavirus pandemic. In a letter to lenders, Fannie Mae specifically cited “market and economic uncertainty resulting in higher risk and costs.” Th
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Rosslyn Skyline Changing with 3,800 New Residential Unites in the Pipeline

By John Akhavan / Nena Perry-Brown - August 10, 2020
The Over 3,800 Residential Units Slated to Remake Rosslyn Rosslyn residential pipeline has seen a resurgence with the revival of some projects and the introduction of others. Most of the developments involve existing office and hotel sites. Key Bridge Marriott Redevelopment In March, the Arlington County Board approved a redevelopment application for the 5.5-acre site of the Key Bridge Marri
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Mortgage Rates Drop, Hitting a Record Low for the Eighth Time this Year

By FreddieMac - August 06, 2020
The resilience of the housing market continues as mortgage rates hit another all-time low, giving potential buyers more purchasing power and strengthening demand. We expect rates to stay low and continue to propel the purchase market forward. However, the main barrier to rising demand remains the lack of inventory, especially for entry-level homes. Average commitment rates should be reported alo
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The 5 DC Zip Codes Where Home Sellers Are Profiting the Most

By UrbanTurfStaff - July 23, 2020
A new report from ATTOM Data Solutions states that home sellers in the U.S. saw a 36 percent return on investment in the second quarter of the year. In parts of DC, it was much higher. UrbanTurf dug into the data for the city to find the zip codes where home sellers saw the highest profit in the second quarter. 20018, the zip code that runs along the eastern edge of the District and includes
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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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Why I Work By Referral

By John Akhavan - July 11, 2020
Why I Work By Referral When it comes to finding a great service provider, there is nothing like getting a referral from someone you know and trust who has used that provider and received great service. That’s why I choose to work by referral. Trust is a big deal, especially when it comes to the professional you choose to handle the largest purchase you’ll ever make — the purchase (or sale) of a h
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In DC’s Seller’s Market, Home Price Reductions Less Common

By Nena Perry-Brown - July 10, 2020
Not only has homebuyer demand continued to defy COVID-informed expectations, but more evidence is also being revealed on how low supply is affecting home prices. A new report out from Zillow reveals that fewer listings on the market are seeing price cuts in 2020 compared to previous years. In the last week of June, just over 4% of active listings nationwide underwent a price reduction, down from
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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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Mortgage Rates Remain at Record Lows, Purchase Demand Shoots Back Up

By UrbanTurfStaff - June 25, 2020
Mortgage rates remained at all-time record lows for the second week in a row and homebuyers are taking full advantage. On Thursday, Freddie Mac reported 3.13 percent with an average 0.8 point as the average for a 30-year mortgage, the same rate as the record low set last week. “After the Great Recession, it took more than ten years for purchase demand to rebound to pre-recession levels, but i
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DC Home Prices Shatter Record in May As Housing Market Rebounds From COVID-19

By UrbanTurf Staff - June 11, 2020
DC home prices shattered their all-time record in May as the regional housing market continued its roller coaster ride as a result of the effects of COVID-19. The median home price in DC came in at $660,000, a whopping $25,000 higher than the previous record for the city of $635,000 set last December. The median price for the DC area hit $500,000, just below the record high for the region. In Ale
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