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Because You Deserve the BEST

Welcome to the PORTER HOUSE INTERNATIONAL Realty Group, your premier resource for all real estate information and services. We hope you enjoy your visit to this website and explore everything it has to offer, including real estate listings in the District of Columbia, Maryland and Virginia. There is information for Home Buyers and Sellers, informative Videos and more About Us, your professional REALTORS® in the Washington Metropolitan Area.

Looking for a new home? See our Featured Listings above, or use the Dream Home Finder form and we will conduct a personalized search just for you.

If you are planning to Sell Your Home in the next few months, nothing is more important than to have a real estate expert price your home properly. We would love to help you with a FREE Market Analysis of your home. We are happy to compare the recently sold listings in your community to help you determine the best market value of your home.

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A Porter House Clients' Testimony

I can't say enough good things about Porter House International Realty Group, especially with my realtor Jasmyen Porter. I was selling my home in Upper Marlboro in Nov 2018 and received an offer (actually a few offers) in just a week. Jasmyen helped me to get the best price for my house and worked with the buyer and his realtor/lender while dealing with government shutdowns and buyer down payment programs that delayed the closing for over two months! I knew I was in good hands and that she was pushing it along and keeping my interests at heart while I was able to move out and do what needed to be done! I'm super thankful for the team and their support. Would highly recommend them to others! Keisha Pierce
Teaming up with Cheaz & Jasmyen Porter of Porter House Realty was definitely a blessing. They exceeded our expectations and delivered with excellence. We had a contract on our home and needed to find a place to live in a short period of time. We started off with one approach and then changed midstream. The Porters accommodated us and the change midstream seamlessly. Their customer service was on point the entire time. When it came to finding homes to consider, they quickly learned our preferences and tastes and provided us with several options. We could not have researched and seen the properties that met our search criteria without them. Not only did they assist us with finding a home, but during the process, they gave us sound guidance and supported the decisions we made. On top of that, they educated us on the process and all of the players in the process. While we have sold and bought homes before, they provided us insight on some things that we did not know. They made us feel like we were important to them. They were professional and showed us the positive of every situation. We will definitely team up again with them and would recommend them to anyone. Our only regret is that we did not retain them to handle the sale of our current home in addition to helping us find a new home. They were just that good! Completely Satisfied! Damon and Karen McClure
Your brokerage...I really love it! You guys made everything in the home buying process easy to understand. The staff helped me every step of the way. I especially appreciate the way you lead me through this process, being a first-time homebuyer and never having bought a home on my own before. I am really in love with this couple's dynamic too! The Porter's make you feel at home even when just visiting their beautiful office. I highly recommend Porter House International Realty Group. They are AWESOME! Areyon Butler
I started looking to purchase my first home. Having traveled that road in 1996, my interaction with the realtor I had back then left a bad taste in my mouth, and ended in my deciding not to purchase but to stay in the renters’ market. A little gun shy after my initial attempt at home ownership, I moved forward in 2015, by choosing to go with Jasmyen and Cheaz Porter as my Realtor. The comparison in service and customer focus was undeniably night and day. Remax was a machine, only concerned with getting their bottom line met, in contrast, Jasmyen and Cheaz, being very astute in their sector, understood my needs and put them first. They listened, and supported “my” decisions. The first home I selected was a home some realtors did not want to show me, they said “no, it’s a heap”. However, when Jasmyen took me to see the house, which did require a great deal of renovation, she saw my vision and moved to make it happen. The owner of the home was not easy to work with, so I passed on the home. Wouldn’t you know it! Within days Jas and Cheaz had a long list of homes for me to see. They knew my taste, and understood my personality in relation to the type home that would make me feel at home and they remembered that I wanted to eventually use my first home as a rental property. The fourth house their staff member showed me was the one! Perfect, clean, great finishes and enough room for me to put my own stamp on it! Less than 3 months after finding my home, I was moving in! They also helped me find a great Mortgage banker who was able to advise me on the best route to go for financing as a Veteran. From selection, to appraisal, to inspections Title work and banking, the Porters are the power team to work with if you are looking for a starter home, a fixer upper, or your dream home. Great customer focus, awesome listening and directional skills. They never allowed me to become discouraged with anything that seemed to be alarming to me. I felt and feel valued, heard and supported. A year after my purchase, their team and the outside services that support their process have checked in on me and let me know that they are there to help both now and in my future purchases. This is unparalleled service. I am a big customer service person. The Porters are a great product, but their sensitivity to customer needs and wants, their consummate drive to give clients the best home and best experience in home buying is unmatched. Their faith and integrity guides them in all they do. They are the complete package in helping you to find what you want in a home, and understanding the larger implications of homeownership both financially, economically and socially. I love my home, my neighbors, my neighborhood and I love Cheaz and Jasmyen Porter!!! Thank God for such an awesome connection. Dallah Herman
Thank you Porter House International Realty Group for all your help. Thank you for your professionalism. Thank you for being there when I needed somebody most. You are EXACTLY what we need in this world today people that we can trust. The team that you have is Terrific. Ms. Tracey was there every time I called, she had a great spirit on her. She always brightened my day when I spoke to her. She was right on point with all the information that I needed, answered every question, and she always called me right back. That meant a lot to me. God bless Porter House International Realty Group Sincerely! Edward bonds
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Real Estate News!!!

Latest Realty News from NAR

Commercial Real Estate Prices Still Trending Up in 2019 Q1

Amid sustained economic expansion and the lowest unemployment rate since 1953, commercial property prices are still broadly trending upwards although at a modest pace compared to past years, according to NAR’s 2019 Q1 Commercial Real Estate Trends and Outlook Report.

Sales Activity

In the small market (less than $2.5 million deals), commercial property prices rose modestly by one percent from a year ago (seven percent in 2018 Q1). REALTORS® typically transact in the small market, with the average sales at $1.2 million in 2019 Q1.[1]  In the large market ($2.5 million and above deals), Real Capital Analytics reported that commercial sales price rose six percent nationally (nine percent in 2018 Q1). The National Council of Real Estate Investment Fiduciaries (NCREIF) Index and the Green Street Advisors Price Index also show a modest annual increase of two percent in 2019 Q2.

In both the large and small markets, the cap rates were slightly above six percent. Multi-family was the top-performing asset class in both the small and large market, with the lowest cap rates (which means high prices). Industrial properties were the second-best performing asset class in the large market, mainly for flex properties (essentially a combination of warehouse, office, showroom buildings). In the small market, hotels (likely Class B/C) were the next best performing asset.

According to REALTORS® who participate in the small market survey, cap rates in the small market continue to tend downward.  One reason may be that demand is moving towards suburban areas where commercial properties are less expensive. According to Real Capital Analytics, commercial prices in non-metro areas rose at a faster pace in 2019 Q1 than prices in the six major metro areas of New York, Boston, Washington DC, Chicago, Los Angeles, and San Francisco: in March 2019, commercial prices were broadly up by six percent in non-major markets compared to 4.5 percent in the six major metro areas.

Leasing Activity

REALTORS® and commercial affiliate members reported a slight increase in vacancy rates in 2019 Q1 across all property types compared to the prior quarter. With vacancy rates slightly trending up, REALTORS® reported a slight decrease in leasing volume (-0.10%) and a modest increase in leasing rates (2.3%) in 2019 Q1 from the prior quarter.

Among property classes, vacancy rates were lowest in the multi-family market, at seven percent, followed by the industrial market, at eight percent. Retail and hotel properties had on average double-digit vacancy rates.

In 2019 Q1, the average tenant improvement allowances (per square foot) in the small market were $2 for multi-family units, $5 for industrial property, $17 for office, and $21 for retail.

Outlook

Multi-family and industrial will continue to be strong commercial asset classes. The multi-family market is expected to remain bright in metros with low vacancy rates and affordable rents. E-commerce will continue to sustain demand for industrial properties, particularly flex properties. Retail brick and mortar will continue to do well in growing metros and in retail niches that require face-to-face customer service. The office market will be sustained by the growth in technology-driven jobs. The Opportunity Zone tax break on capital gains is expected to bolster commercial and residential real estate sales in 2019-2020.


[1] The small market makes up a smaller fraction of deal volume but accounts for a larger share of buildings: according to Energy Information Administration 2012 Commercial Buildings Energy Consumption Survey, buildings 10,000 square feet or less in size account were 72 percent of all commercial buildings; https://www.eia.gov/consumption/commercial/data/2012/bc/cfm/b23.php

 

REALTORS® Confidence Index Survey: April 2019 Highlights

The REALTORS® Confidence Index (RCI)[1]  survey gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from April 2019. View and download the full report here.

Market Conditions and Expectations

  • The REALTORS® Buyer Traffic Index registered at 63 (74 in April 2018).[3]
  • The REALTORS® Seller Traffic Index registered at 47 (45 in April 2018).
  • The REALTORS® Confidence Index—Six-Month Outlook Current Conditions registered at 67 for detached single-family, 56 for townhome, and 53 for condominium properties. An index above 50 indicates market conditions are expected to improve.
  • Properties were typically on the market for 24 days (26 days in April 2018).
  • Eighty-two percent of respondents reported that home prices remained constant or rose in April 2019 compared to levels one year ago (88 percent in April 2018).

Characteristics of Buyers and Sellers

  • First-time buyers accounted for 32 percent of sales (33 percent in April 2018).
  • Vacation and investment buyers comprised 16 percent of sales (14 percent in April 2018).
  • Sales of distressed properties (foreclosed or sold as a short sale) accounted for 3 percent of sales (4 percent in April 2018).
  • Cash sales made up 20 percent of sales (21 percent in April 2018).
  • Twenty-one percent of sellers offered incentives such as paying for closing costs (10 percent), providing warranty (8 percent), and undertaking remodeling (4 percent).[4]

Issues Affecting Buyers and Sellers

  • From February 2019–April 2019, 76 percent of contracts settled on time (78 percent in February 2018–April 2018).
  • Among sales that closed in April 2019, 74 percent had contract contingencies. The most common contingencies pertained to home inspection (54 percent), obtaining financing (43 percent), and getting an acceptable appraisal (41 percent).
  • REALTORS® report “low inventory” and “construction” as the major issues affecting transactions in April 2019.

About the RCI Survey

  • The RCI Survey gathers information from REALTORS® about local market conditions based on their client interactions and the characteristics of their most recent sales for the month.
  • The April 2019 survey was sent to 50,000 REALTORS® who were selected from NAR’s more than 1.3 million members through simple random sampling and to 10,000 respondents in the previous three surveys who provided their email addresses.
  • There were 4,611 respondents to the online survey which ran from May 1-10, 2019. The survey’s overall margin of error at the 95 percent confidence level is one percent. The margins of error for subgroups and sample proportions of below or above 50 percent are larger.
  • NAR weighs the responses by a factor that aligns the sample distribution of responses to the distribution of NAR membership.

The REALTORS® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent. For questions on this report or to purchase the RCI series, please email: Data@realtors.org


[1] Thanks to Gay Cororaton, Research Economist for their data analysis and comments to the RCI Report.

[2] Respondents report on the most recent characteristics of their most recent sale for the month.

[3] An index greater than 50 means more respondents reported conditions as “strong” compared to one year ago than “weak.” An index of 50 indicates a balance of respondents

who viewed conditions as “strong” or “weak.”

[4] The difference in the sum of percentages to the total percentage of sellers who offered incentives is due to rounding.

  • NAR released a summary of existing-home sales data showing that housing market activity this April, modestly fell 0.4 percent from March 2019. April’s sales of existing homes dropped 4.4 percent from April 2018. April’s existing-home sales reached a 5.19 million seasonally adjusted annual rate.

  • The national median existing-home price for all housing types was $267,300 in April, up 3.6 percent from a year ago. This marks the 86th consecutive month of year-over-year gains.

  • Regionally, all four regions showed growth in prices from a year ago. The Midwest had largest gain of 5.5 percent followed by the South with a gain of 4.4 percent. The West had an increase of 1.3 percent followed by the Northeast with a modest incline of 0.9 from April 2018.
  • April’s inventory figures are up from last month 9.6 percent to 1.83 million homes for sale. Compared with April of 2018, there was a 1.7 percent increase in inventory levels. It will take 4.2 months to move the current level of inventory at the current sales pace. It takes approximately 24 days for a home to go from listing to a contract in the current housing market, up from 26 days a year ago. This would be the fastest pace since 2011 when the days on the market index began.

  • From March 2019, two of the four regions showed declines in sales while the Midwest was flat. The West was the only region to have an incline in sales at 1.8 percent. The South fell 0.4 percent followed by the Northeast with the biggest decline of 4.5 percent.
  • All four regions showed declines in sales from a year ago. The Midwest had the biggest drop in sales of 7.9 percent followed by the West with a decline of 5.9 percent. The Northeast fell 4.5 percent followed by the South with a dip of 1.7 percent. The South led all regions in percentage of national sales, accounting for 43.7 percent of the total, while the Northeast had the smallest share at 12.3 percent.

  • In April, single-family sales were down 1.1 percent and condominiums sales were down 5.6 to last month. Single-family home sales fell 4.0 percent and condominium sales were down 8.1 compared to a year ago. Single-family homes had an increase in price up 3.7 percent at $269,300 and condominiums rose 3.4 percent at $251,000 from April 2018.
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1400 Mercantile Lane Suite 150
Upper Marlboro, MD 20774
(775) BEST4ME: Office
(775) 237-8463
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info@porterhouserealtypros.com
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