Why Is It Called 7 Dollar Listing?

Michael Sheridan and Melissa Terzis both work as Real Estate Agents in the Washington DC market. They talk about their background and what makes them think they are qualified to have a podcast about real estate.

Melissa worked for a land developer almost 20 years ago in suburban Maryland and then went on to work for a couple different national New Home Builders before getting her real estate license. Michael bought a fixer-upper at 19 years old and the renovation experience planted the seed in his brain about helping people to buy their own homes.

Why is this podcast named 7 Dollar Listing? It’s a partial nod to the Million Dollar Real Estate Shows of TV. While showcasing that kind of Real Estate Agent life makes for good television, it is definitely not the norm. The stories of things that happen to everyday agents working in the trenches can be just as entertaining.

The Summer 2019 State of the Washington, DC Real Estate Market continues to be strong. The announcement of Amazon coming to Arlington, Virginia has resulted in an entirely different sub-market of DC Real Estate. Investors from all over the country flooded their attentions on the newest real estate darling, Crystal City in Arlington.

To be clear, Crystal City was never a real estate darling. It has been known as a place of high rises with dated condos that didn’t sell very quickly. Now these condos are flying off the market in anticipation of the mothership’s arrival. If anything comes up in Alexandria and Arlington on a client’s search, it’s necessary to go out right away or the property will be gone within a day or two.

Michael and Melissa believe that the entire area will see the boost in real estate values as those working for Amazon will not necessarily want to live right next to where they spend their work week. Places like Fairfax, Burke, and McLean will also be great places for Amazon employees to live.

Michael closes by telling a story about an agent who held the lockbox key hostage and pretended to be the listing agent.