2020 Pantone color of the year: Classic Blue

Pantone’s 2020 Color of the Year is Classic Blue.

Annually named by Pantone Color Institute since 1963, the Color of the Year is highly anticipated by artists and designers across a multitude of industries.

For 2020, the experts at Pantone have selected Classic Blue, traditional and enduring, yet classy and modern. Classic Blue has been a staple of fashion, design, and home decor for decades. According to Pantone, classic blue fosters a sense of “calm, confidence and connection,” and it “highlights our desire for a dependable and stable foundation on which to build as we cross the threshold into a new era.”

McEnearney Associates, “2020 Pantone color of the year: Classic Blue”

The state of the D.C. area real estate market

Dazzling new home in the heart of Chevy Chase designed by GTM. Incredible space exceeding 5,500 SQ FT. High-end kitchen, butler’s pantry and sun-filled family room with fireplace provide amenities and space for comfortable living. All of this plus separate dining room, living room, and gracious foyer make entry-level entertaining perfect. You will be delighted with the luxurious Master Suite as well as 4 other bedrooms and 3.5 baths. Superb finishes throughout and a garage complete this wonderful home. Offered at $2,295,000

David Howell, McEnearney Associates CIO: I want to thank Tom Williams of our Spring Valley office for letting us shoot in this beautiful home at 3304 Cummings Lane in Chevy Chase, Maryland. It’s incredible new construction, and it’s just immaculate. Over 5,300 square feet with five bedrooms and four and a half baths, there are thoughtful details throughout the house. One of my favorites is the crumb vacuum built into the kitchen island baseboard. Click here for the listing details, and I think you’ll be blown away.

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A shift in the market we haven’t seen before

At the start of the year, we predicted that this year’s Washington, DC metro area real estate market would look a lot like 2018: stable contract activity, modest price appreciation, stable mortgage interest rates, and continuing low inventory. With over half of the year in the books, we were mostly right – with one glaring exception: the inventory of available homes.

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The state of the D.C. area real estate market

In this video, we’re continuing our conversation about absorption rates.

But first, I’d like to thank Emily Gordon and Phillip Allen of our DC offices for letting us shoot this video in their incredible new listing at 3039 16th Street, NW in Columbia Heights.  Unique is a word that’s overused – but this 2 level, 2 bedroom condo really is unique.  20-foot ceilings, 18-foot windows, magnificent views, incredible smart home features and a private elevator right to the unit.  Take a look at the info below, click on the link and enjoy!

Evaluating the impact of absorption rates is really a matter of leverage.  The higher the rate, the more bargaining power the seller has. Let’s take a look at the conditions right here in Columbia Heights.  Over the last several months, the absorption rate for condos has been right around 35%. That’s a seller’s market, and the results show that.  Since the first of the year, condos here have sold for an average of 99.5% of original list price in an average of 34 days. Good stuff!

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State of the D.C. area real estate market: Where did all the listings go?

We’re now firmly in the spring market, and there’s one question that has emerged that’s pretty hard to avoid: What happened to listing inventory in the City of Alexandria and in Arlington County?

At the end of March, most of the metro area had roughly the same number of listings on the market as this time last year.  But in Arlington County, inventory is down 40%, and in the City of Alexandria, there were exactly half as many homes on the market.

Half.

Where did the listings go?  Contract activity is a little higher than last year in both of these areas. But it isn’t contract activity that accounts for the big drop in inventory.

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The real estate market post-government shutdown

With the government shutdown in the rearview mirror, we were curious how the market fared in February.  And it probably won’t surprise you that, since all real estate is local, there were some considerable differences.

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The Marie Kondo Craze: Does it spark joy?

Rather than feeling suffocated amongst the heaps of materials we tend to possess these days, why not make things simpler? At the age of 30, Marie Kondo has become a sensation in the eyes of millions of people who look to her when tidying up their homes. Her best-selling book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing also inspired a Netflix series, and she has launched a lifestyle brand, KonMari.  

In each episode, Marie Kondo teaches her method by entering people’s homes to help them achieve that homey and stress-free secure feeling that promotes a positive life change. When holding the item, if it does not spark joy, then thank it for its time and set it free.

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