Fortune Marban Real Estate Services

Washington Business Journal – by Jeff Clabaugh

Date: Wednesday, October 27, 2010, 11:28am EDT

Sales of new homes rose for the second straight month in September, but remain well below year ago levels.

The Commerce Department Wednesday reported sales of new, single-family homes sold at an annual rate of 307,000 in September, up 6.6 percent from August, but down 21.5 percent from September 2009. There were 204,000 new houses for sale at the end of September, the fewest since July of 1968, according to Bloomberg data.

Inventory of new homes for sale represents an 8 month supply at the current sales rate, down from 8.6 percent in August.

In the South region, which includes Washington, but stretches from Delaware to Florida, new home sales were up 3.2 percent in September, and down 16.2 percent from a year ago. Sales rose in three of the Census Bureau™s four regions, led by a 61 percent jump in the Midwest.

Sales in the West fell 9.9 percent in September.

 

 

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Read more: New home sales rise 6.6% in September | Washington Business Journal

 

Washington Business Journal – by Jeff Clabaugh

Date: Wednesday, October 27, 2010, 2:20pm EDT

 

Related:

Residential Real Estate

The days of homeowners treating their homes as a piggy bank appear to be gone for now, with the number of owners refinancing to a larger mortgage falling to the lowest level on record last quarter.

Just the opposite is happening now.

Freddie Mac says 33 percent of all homeowners who refinanced a mortgage last quarter, refinanced it for less than the original mortgage, paying down at least a portion of the original loan, up from 23 percent in the second quarter. The œcash-in share of refinancing activity was the highest since Freddie Mac began keeping track in 1985.

Conversely, the number of owners œcashing-out as part of their transaction fell to 18 percent, the lowest cash-out share since at least 1985.

While it may seem prudent in a tight economy to whittle down debt, prudence wasn™t the main reason for the drop in cash-outs. Tighter lending standards, and reduced home values were the main causes, according to Freddie Mac.

Record low mortgage interest rates have been the motivator for homeowners seeking to refinance, and those low rates are saving them significantly.

Freddie Mac (OTC BB: FMCC) says the average reduction in mortgage interest rates by those refinancing last quarter was 1 percentage point, shaving at least 18 percent off monthly payments.

Read more: For homeowners, ‘cash-out’ is out | Washington Business Journal

Washington Business Journal – by Jeff Clabaugh

Friday, October 22, 2010

Forbes Magazine‘s 2010 list of America’s 100 Best Small Companies includes six companies in the Washington and Baltimore region, with one area firm at the top of the list.

Owings Mills-based Medifast Inc. ranked No. 1 on this year’s list, with strong sales and earnings growth.

The Forbes list includes only publicly traded companies with annual revenue between $5 million and $1 billion. The companies on the list all have a stock price of at least $5 per share, and Forbes excluded financial institutions, real estate investment trusts, utilities and limited partnerships.

To further cull the rankings, it eliminated companies that are thinly traded and those with fuzzy accounting or major legal troubles, it says.

Forbes also factored in the stock performance of each company compared with its peers and based rankings on earnings growth, sales growth and return on equity in the last 12 months and past five years.

Medifast, which sells prepackaged meal plans through a network of sales people, got to the top of the list with $218 million in annual sales, up 41 percent a year over the past five years and earnings per share that have increased 35 percent a year during the same period.

In the last year, Medifast’s sales have increased 69 percent, and earnings have increased 120 percent, Forbes says.

The six Washington- and Baltimore-area companies on Forbes’ America’s 100 Best Small Companies, their sales, five-year average annual sales growth and earnings per share are:

1. Medifast | $218 million | 41 percent | 35 percent

14. Strayer Education Inc. | $579 million | 22 percent | 22 percent

27. VSE Corp. | $960 million | 42 percent | 45 percent

28. Under Armour | $926 million | 34 percent | 21 percent

48. Joseph A. Bank | $807 million | 15 percent | 21 percent

76. ICF International Inc. | $715 million | 44 percent | 54 percent

 

 

 

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Read more: Six Washington companies make Best Small Companies list | Washington Business Journal

By V. Dion Haynes

Capital Business Staff Writer
Monday, October 18, 2010; 2:35 AM

While the commercial office market is in a slump across most of the country, owners of District buildings are finding this year they can command higher rents from tenants.

Asking rents at two dozen buildings rose sharply from the third quarter of last year to this year, according to CoStar Group, a real estate data firm.

Several, including America Square in Northwest Washington, the Victor Building on 9th Street NW and the CNN Building near Union Station, experienced double-digit increases, CoStar said.

The rise has been so dramatic that for the first time in five years, the average asking rent in D.C. is higher than in New York City, according to CoStar and a new report of third-quarter activity by commercial real estate firm Cassidy Turley.

Metropolitan Washington is benefiting from the expanding federal government, whose demand for more space in commercial buildings is helping to boost prices.

The government’s appetite for space in the private market is illustrated by a recent transaction involving the Securities and Exchange Commission, which recently agreed to lease about 1 million square feet in the newly renovated Constitution Center in Southwest. Other agencies that recently acquired commercial space include the Department of Defense Medical Command, 655,000 square feet in Fairfax County; and the Department of Veterans Affairs, 284,974 square feet in downtown Washington.

To be sure, office buildings in midtown Manhattan are still commanding top dollar, many surpassing $100 a square foot. Still, average asking rents in the District in the third quarter soared nearly 4 percent to $48.96 a square foot, according to Cassidy Turley, compared with $48.53 in New York City.

“During the recent real estate boom, rents in New York were an average of $15-20 higher [a square foot] than in D.C.,” said Kevin Thorpe, Cassidy Turley’s chief economist.

“The federal government has created a smooth but slow rise in rents [in D.C.], as opposed to New York’s roller coaster,” Thorpe added. Rents in New York “surged during the boom, but the ride down was much steeper during the recession.”

Average asking rent is what landlords charge tenants, not counting givebacks such as the cost of renovating the space.

Unlike other parts of the country, the Washington office market is also fueled by a growing job market. The region has the lowest unemployment rate, 6.2 percent in August, among major metropolitan areas in the country.

Metropolitan Washington has added a net of 20,000 public and private sector jobs during the past year, according to the government. Growing payrolls often prompt employers to look for more space.

Still, some experts say several looming factors could put the brakes on the sector’s recovery in the region.

The Obama administration’s plan to shift some Defense Department work in-house could force some contracting firms currently doing the work to downsize. An impending change in accounting rules to require companies to show leases as debt on their balance sheet could prompt them to rent smaller spaces for shorter terms.

Moreover, the government is starting to scale back hiring.

“New hiring has gone down and will continue to go down with the [government's] focus on reducing spending,” said Tim McManus, vice president for education and outreach at the Partnership for Public Service, which helps the government find workers.

Across the country, larger markets, including the District, New York, San Francisco and Boston, fared better than secondary markets, according to Cassidy Turley. Only 21 of the 80 markets the firm follows showed increases from the second to the third quarter.

The national average for asking rents in the third quarter was $21.25 a square foot, less than half of D.C.’s. While the average asking rent rose 4 percent in D.C., it dropped 1.8 percent nationally.

http://www.washingtonpost.com/wp-dyn/content/article/2010/10/17/AR2010101702501.html

In its semi-annual report on the DC area condominium market, real estate sales and marketing firm McWilliams|Ballard predicts that in 2011, the area will see the most new condo construction since the boom. The company expects that in the most desirable markets, namely central DC and the Rosslyn-Ballston Corridor, the first groundbreakings could occur by early 2011.
Given how little new construction has occurred since 2006-2007, saying that 2011 will beat the last few years isn™t saying much. But it is a sign that the market is turning the corner, and that buyers who want a new condo will finally have a larger selection from which to choose. McWilliams|Ballard expects that the first such projects will be relatively modest in size, so don™t expect another Union Row or CityVista anytime soon.

Rendering of the yet-to-be-named JBG/Grosvenor project

œNew condominiums in the next 12-18 months will be smaller-scale projects with developers who can execute to a higher standard, reads the report. œLarge condo projects, those over 150 units, are still some time off as preconstruction sales are not possible and condominium financing is not yet freely available.

The major DC project that is scheduled to break ground soon is the JBG/Grosvenor 125-unit residential development planned for 14th and S Streets NW, which will likely deliver in Spring or Summer 2012. Also, the second phase of the Woodley-Wardman in Woodley Park, which consists of a new seven-story tower, will begin construction in 2011.

In northern Virgina, the 144-unit Isabella at Monticello Mews in Alexandria is scheduled to break ground soon, and deliver in fall 2011. Also, Lyon Pointe, a new 8-unit project in Arlington, will deliver in late 2011.

In addition to new condo construction, 2011 will see a continued rise in condo conversions (in which existing buildings are redeveloped as condominiums), a trend that has gained momentum this year. UrbanTurf has heard of a number of conversion projects, ranging in size from three to 30 units, that are on tap for DC in the coming year. Stay tuned for more info on these projects in the coming weeks.

http://dc.urbanturf.com/articles/blog/2011_to_see_most_new_condo_construction_since_the_boom/2573

October 14, 2010
Will Smith

Thursday, October 14, 2010

Washington Business Journal – by Jeff Clabaugh

The average rate on a 30-year fixed-rate mortgage is now the lowest it has been in six decades.

Freddie Mac™s weekly rate report says a 30-year fix fell to an average of 4.19 percent in the week ending Oct. 14, down from 4.27 percent last week, the lowest since at least 1951 based on FHA data going back to 1948.

It is the 23rd consecutive week the average rate on a 30-year mortgage has remained below 5 percent.

A 15-year fixed-rate mortgage fell to 3.62 percent this week, also a record low.

œSeptember™s employment report held no big surprises to financial markets, allowing long-term bond yields and fix mortgage rates to continue to ease, said Freddie Mac (OTC BB: FMCC) chief economist Frank Nothaft.

Low rates have spurred another refinancing wave. Conventional mortgage applications jumped 24 percent last week to the strongest pace since April 2009, according to the Mortgage Bankers Association.

http://washington.bizjournals.com/washington/stories/2010/10/11/daily32.html?surround=etf&ana=e_article

Read more: 30-year mortgages fall to 4.19% – Washington Business Journal

As one of the older neighborhoods in DC, LeDroit Park is a place that has maintained many of its historic qualities while comfortably evolving into an area that people love to live in.

Since its founding in 1873, LeDroit Park has faced good years and bad. In its early years, it served as one of DC™s first suburbs (as it lay just outside the original boundaries of DC), a popular option for those who worked downtown. By the 1920s, the neighborhood had become home to a number of famous African-American scientists, poets, and musicians. However, the 1970s, 80s and 90s were years during which the area™s characteristic Victorian homes became dilapidated, and some blocks turned into drug markets.

These days, however, LeDroit Park is on the upswing again; houses have been restored, the brick sidewalks that line most streets are clean and even the long-suffering 100 year-old Howard Theater, located just across Florida Avenue, is finally scheduled to be restored to its former glory.

Despite the turnaround, residents feel that the small, easily-missed enclave is still relatively affordable”relative, that is, to the high quality of much of the area™s housing stock.

Historic Gate Leads to Historic Homes

Bounded by Florida and Rhode Island Avenues to the south, 2nd Street to the east, Howard University to the north, and Bohrer Street and Howard University Hospital to the west, LeDroit Park is distinct from the nearby neighborhoods of Shaw and Bloomingdale (though it runs right into the latter to the east). The neighborhood™s original developers intentionally set LeDroit Park off the street grid from the rest of the city so as to discourage people from passing through. However, its iconic gate, which reads œLeDroit Park 1873 is hard to miss.

LeDroit Park is known for the James McGill-designed Victorian homes that the local developer built in the 1870s. Fifty of the original 64 McGill properties are still standing in the neighborhood, and the area also has a number of brick and frame rowhouses that were built toward the end of the 19th century. The three-block stretch of T Street between 6th and 3rd showcases some of the neighborhood™s choicest real estate. Now the area also has boxy apartment buildings, brand new row homes, and low public housing complexes. But the Victorian architecture dominates: the multi-roofed detached homes are unlike anything else in the city.

Some of the neighborhood homes have been fully restored and are now painted charming colors and surrounded by small gardens. A few of them have been divided into condos, and more of those are on the way. Other properties are still pretty rundown, and that™s probably why LeDroit is still vaguely affordable.

Restored Victorian in LeDroit Park

Residents Old and New Co-Exist

The wide mix of people living in LeDroit Park reflects the neighborhood™s in-between state. There are longtime residents, œpioneers who invested when the area™s potential wasn™t quite so obvious, and renters who are finding that living alone or with four friends can be fairly inexpensive.

Clifford Dowe has lived in his LeDroit Park house for nine years, but the home has been in his family since the 1950s. Standing near the corner of 6th and T Streets, he pointed out the many houses now occupied by new residents as well as the ones that were bought for a song and restored by visionaries.

œIt™s a nice neighborhood, but in my opinion, it™s always been nice, Dowe said. œThere was a rough period, but it™s a whole new neighborhood now.

Howard Theater Undergoing Renovation

Sluggish Prices Can Be Good

Gerard DiRuggiero, a broker and managing member of UrbanLand Company, thinks that home prices in LeDroit Park are downright œsluggish for what the neighborhood offers. Three-bedroom row houses are currently selling for between $275,000 and $575,000, depending on their location and condition; four-bedrooms run for between $330,000 and $680,000. One-bedroom condos, meanwhile, are currently selling for between $260,000 and $315,000; two-bedrooms go as high as $480,000.

According to DiRuggiero, the community still has real potential as an investment.

œNow that the Howard™s Theater™s [renovation] has kicked off, all of these homes will be validated.

A (Very) Small Commercial Stretch

LeDroit Park is a neighborhood that will likely never have the amenities of Logan Circle. Currently, businesses in the neighborhood are numbered at two. There™s the LeDroit Park Market, a convenience store, and Cookie™s Corner where Cobra malt liquor and Sierra Nevada sit side-by-side in the cooler and sandwiches are made to order.

LeDroit Park Market at the corner of 4th and T Street

Still, LeDroit isn™t far removed from the city™s hustle and bustle.

œHanging out usually requires leaving our small neighborhood, but you don™t have to walk very far, said Eric Fidler, a computer programmer who lives in the neighborhood and runs the Left for Ledroit blog. He pointed to Big Bear Café in nearby Bloomingdale, and a Trinidadian restaurant and bar that are about to open just across Florida Avenue. For a larger selection of restaurants and bars, Fidler heads up to U Street.

œWhat™s nice is that the neighborhood is close enough to walk to U Street, but far enough away that we don™t have to live with the noise and traffic.

Jungle Gyms Coming Soon

Relative to neighboring communities, LeDroit Park is a peaceful area. Still, many of the streets are chockablock with houses and it™s hard to forget that it is in the middle of the city. As such, it™s not necessarily the most kid-friendly place.

Nevertheless, you will see strollers on the sidewalks, and parks scattered around. In particular, the Gage-Eckington Park, to the north of the neighborhood, should become more amenable to families in the near future, with a large community garden already in place and the planned addition of a dog park and playground equipment.

LeDroit Park Mansion Being Converted to Condos

Crime Still Exists

Even recently, LeDroit Park™s reputation as a good place to live has been hindered by the inevitable caveat: œexcept for some crime. But these days, residents point out that things are much better than they were several years ago.

œI haven™t lived here long enough to compare safety, but older residents say it has vastly improved over the past two decades, Fidler, who moved to LeDroit roughly 18 months ago, said. œI™m told my street used to be an open-air drug market in the 1990s, but now I see no such thing, and feel safe walking around at night. Emily Freed, a renter who™s been in LeDroit for the past year, echoed this sentiment.

Nonetheless, it™s definitely not crime-free. The LeDroit Market was held up a couple months ago and other residents that say they™re careful when they go out.

The Heart of the City

If you live in LeDroit Park, it is just a short bike ride to downtown, 14th Street, and Columbia Heights, and the neighborhood is near a number of bus lines including the 90, 92, 93, 96, and X3. The closest Metro station is Shaw-Howard University on the Yellow and Green Lines, a short walk from the area.

The ease of finding street parking in LeDroit Park depends on the time of day. At night, when everyone is coming back from work, it can be a hassle. During the day, however, there are usually a good number of spots.

The Bottom Line

When we first profiled LeDroit Park back in 2008, a local real estate agent described the area as œa sleeping bear which has been steadily waking from its slumber. It seems like that bear is still stirring.

It doesn™t have the space of neighborhoods located farther west, east, or north, and being in the middle of the city means residents can never ignore the prospect of crime. But LeDroit Park is a still point in an otherwise crowded area, offering great architecture and a relatively affordable opportunity to live in a community that still feels, in many ways, like a quiet enclave.

Amanda Abrams is a Washington, DC-based journalist who has written feature stories for The Washington Post, Christian Science Monitor, and Washington City Paper.

http://dc.urbanturf.com/articles/blog/ledroit_park_a_quiet_enclave_in_the_middle_of_the_city/2567

• October 13, 2010
• Amanda Abrams

 

Friday, October 8, 2010    |    Modified: Tuesday, October 12, 2010, 3:30am EDT

Washington Business Journal

Even in one of the most dismal economies since the Great Depression, plenty of growth is happening in the Washington region.

This year™s list of fastest growing companies welcomes dozens of new names and faces, including the business in the No. 1 spot. Newcomer Agilex Technologies Inc. of Chantilly topped the list with 372.32 percent growth. That™s about 12 percent faster than last year™s top-spot holder, DuPont Fabros Technology Inc.

Not bad for a young company that only got its start in 2007.

Agilex™s first time on the fastest growing companies list likely won™t be its last because of the technology company™s role as Apple Inc.™s authorized systems integrator for the federal sector.

Agilex is in good company in its newcomer role. A full 37 businesses are new to this year™s list. However, it™s a bit of a half-full, half-empty situation: Some mainstays have dropped off. But the list also shows that a bunch of new players have moved up quickly, despite the economic odds.

How we did the math

Growth is a funny thing. Unlike scribbling a Sharpie across a height chart and or stepping onto the scale each morning, measuring a company™s growth can get complicated. Tinkering just slightly with the criteria can change the results.

Other lists, such as the Inc. 5000, rank companies based on straight percentage of sales growth over four years. That sometimes generates stratospheric percentages in the tens of thousands.

So how did we do our math? Instead of using straight percentages, we rank our list based on average annual growth. We calculate the growth between the first two years and average that percentage with the growth from the past two years.

Not quite as dramatic, true, but we think it™s a more useful way of tracking your company™s growth compared with others in the region.

1. Agilex Technologies Inc. | 372.3%

2007 $2.7 million

2008 $20.5 million

2009 $38 million

Clients: Federal and local governments and companies such as Verizon Communications Inc. and Whirlpool Corp.

What it does and where it™s going: Employee-owned Agilex Technologies Inc. provides mission and technology consulting, software development and system integration services. The company is Apple Inc.™s first partner in building iPhone and iPad applications for the federal government. It projects sales of $100 million in fiscal 2011.

Read more on No. 1 Agilex.

2. Human Genome Sciences Inc. | 242.6%

2007 $41.85 million

2008 $48.42 million

2009 $275.75 million

Clients: Federal government

What it does and where it™s going: Biopharmaceutical maker Human Genome Sciences Inc. is investing in the materials and infrastructure needed for its new lupus drug™s possible launch if it is approved by the Food and Drug Administration.

3. NetWitness Corp. | 175%

2007 $2.72 million

2008 $9.02 million

2009 $19.7 million

Clients: The financial services, pharmaceutical, retail and education sectors; government agencies

What it does and where it™s going: Network security company NetWitness Corp. has been profitable for eight consecutive quarters. The Herndon-based business focuses on real-time network forensics and network security monitoring. It was No. 21 on this year™s Inc. 500 list of privately held companies.

4. Invertix Corp. | 171%

2007 $4.77 million

2008 $14.43 million

2009 $34.59 million

Clients: Federal intelligence, security and research agencies, such as the departments of Defense and Homeland Security and the National Science Foundation

What it does and where it™s going: Invertix Corp. is a service-disabled, veteran-owned small business that provides government communication, network analysis, technology insertions and office operations. Growth areas for its hardware and software include cloud computing and information security.

5. Nova Datacom LLC | 148.1%

2007 $4.74 million

2008 $13.96 million

2009 $28.15 million

Clients: Federal government, technology companies

What it does and where it™s going: Nova Datacom LLC is a minority, woman-owned company that provides cybersecurity, continuity planning, investment recovery and acquisition management services. It has established premier partnerships with large companies such as Dell Inc. and Cisco Systems Inc.

6. MicroTech | 147.2%

2007 $12.36 million

2008 $39.01 million

2009 $69.69 million

Clients: Government organizations such as the Social Security Administration, General Services Administration, Army, Navy and Air Force

What it does and where it™s going: Technology and systems integrator MicroTech makes sure networks and the people who use them can talk with each other whether they™re communicating with through e-mail, Voice over Internet Protocol or secure network systems.

7. Argan Inc. | 103.6%

2007 $68.87 million

2008 $206.78 million

2009 $220.93 million

Clients: Federal government (military installations), commercial and residential establishments

What it does and where it™s going: Argan Inc. is a publicly traded holding company that helps bolster businesses that supply products and services to growth industries. Its portfolio includes Gemma Power Systems LLC, Southern Maryland Cable Inc. and Vitarich Laboratories.

8. DuPont Fabros Technology Inc. | 99.4%

2007 $61.27 million

2008 $173.66 million

2009 $200.28 million

Clients: National and international technology companies (Microsoft Corp, Yahoo Inc. and ServerCentral)

What it does and where it™s going: A successful equity offering and new line of credit has enabled DuPont Fabros Technology Inc., a real estate investment trust and data center provider, to grow through ground-up development. Four data centers in the pipeline will increase its operating portfolio by 57 percent, as well as add two more locations.

9. CIS Secure Computing Inc. | 86.2%

2007 $6.01 million

2008 $12.08 million

2009 $20.7 million

Clients: Federal government

What it does and where it™s going: CIS Secure Computing Inc. provides secure telecommunications equipment and services, including equipment certified by the National Security Agency. The company also manufactures computers, printed circuit boards and electronics components. In addition, it provides Voice over Internet Protocol and video teleconference services. CIS is focused on further penetrating its existing markets.

10. MetroStar Systems | 85.6%

2007 $3.42 million

2008 $7.63 million

2009 $11.3 million

Clients: The World Bank Group, companies such as The Meltzer Group and government agencies including the departments of Defense, State and Transportation

What it does and where it™s going: MetroStar Systems provides information technology services in areas such as infrastructure, systems, collaboration, communication and staff training. The decade-old company recently named new leaders in its civilian, defense and new media divisions.

11. Herren Associates | 84.2%

2007 $4.24 million

2008 $4.81 million

2009 $12.26 million

Clients: Federal agencies (the departments of Defense and Homeland Security)

What it does and where it™s going: Herren Associates, an engineering and management consulting company, is on track to achieve $165 million revenue within the next five years. The company™s recent contract wins include a $33.6 million order from the Navy and a $4.5 million order from the Army.

12. American Security Programs Inc. | 77.8%

2007 $19.81 million

2008 $47.64 million

2009 $54.87 million

Clients: Government agencies and contractors, corporate offices and residential communities, hospitality companies and education centers, industrial sites, law firms.

What it does and where it™s going: American Security Programs Inc. provides security through protective teams, investigations and training for government and private sector clients. Currently, government work accounts for about 80 percent of the company™s customer base.

13. Suntiva | 73.5%

2007 $3.57 million

2008 $6.24 million

2009 $10.75 million

Clients: Government agencies (the departments of Agriculture, Defense and Health and Human Services) and private sector organizations (Booz Allen Hamilton Inc., Fannie Mae and VeriSign Inc.)

What it does and where it™s going: Suntiva provides management consulting on acquisition strategy, organizational performance and information technology governance.

14. Data Tactics Corp. | 60.4%

2007 $6.25 million

2008 $9.67 million

2009 $16.07 million

Clients: Government defense organizations (National Security Agency, Defense Intelligence Agency and the Army)

What it does and where it™s going: Data Tactics Corp. is a data management company that takes information, blends it together and disseminates it throughout the world. In the coming year, the boutique-like business will focus on shoring up its infrastructure to better mirror Data Tactics™ increased levels of growth.

15. Carahsoft Technology Corp. | 60.2%

2007 $228.9 million

2008 $347.5 million

2009 $585.91 million

Clients: Local, state and federal governments

What it does and where it™s going: Carahsoft Technology Corp. sells information technology products such as Symantec, VMware, Adobe and open-source software to government agencies. It targets smaller customers, allowing software vendors to focus on larger-scale projects. Carahsoft is seeing an increased demand for its services from the government and is projecting a strong 2010.

16. Segue Technologies Inc. | 51.9%

2007 $5 million

2008 $8 million

2009 $11.5 million

Clients: Government (Air Force), commercial (Five Guys Burgers and Fries) and nonprofit organizations (United Negro College Fund)

What it does and where it™s going: Information technology service provider Segue Technologies Inc. has continued on a strong growth curve, landing on the Inc. 5000 list for the third year in a row. The company provides everything IT from application development to network engineering.

17. Primatics Financial LLC | 50.8%

2007 $10.2 million

2008 $13.49 million

2009 $22.85 million

Clients: Banking and financial institutions, government sponsored enterprises and portfolio managers

What it does and where it™s going: Primatics Financial LLC focuses on two areas. Its consulting division helps financial companies install technology and improve business processes. Its systems side offers software products for loan and security portfolio management. The company estimates it will grow 20 to 25 percent next year.

18. K12 Inc. | 50.2%

2007 $140.56 million

2008 $226.24 million

2009 $315.57 million

Clients: Families that choose home schooling, military families, expatriate families, athletes and performers

What it does and where it™s going: K12 Inc. provides online school programs and proprietary curricula for students from kindergarten to high school. The company, which currently works with 26 state education systems, is also focusing on international markets. K12 hopes to achieve $1 billion in revenue in five years.

19. Parature Inc. | 44.7%

2007 $5.7 million

2008 $9.1 million

2009 $11.8 million

Clients: Universities, media and other businesses

What it does and where it™s going: Parature Inc. provides Web-based customer service and help-desk software that supports more than 16 million users. It has placed an emphasis on helping companies learn how their customer service can interact with Face ­book. Parature debuted its first customer service Facebook fan page application in August.

20. Abbtech Staffing Services Inc. | 44%

2007 $16.47 million

2008 $30.66 million

2009 $31.25 million

Clients: Federal agencies (departments of Agriculture, Commerce and Defense) and private companies (Dell Inc., Northrop Grumman Corp., Booz Allen Hamilton Inc.)

What it does and where it™s going: Woman-owned Abbtech Staffing Services Inc. provides placement services for technology, telecommunications, engineering and administrative personnel. The company opened a new Virginia office in the Virginia Beach area in June.

21. Onyx of Alexandria Inc. (The Onyx Group) | 43.9%

2007 $5.66 million

2008 $8.4 million

2009 $11.7 million

Clients: Government agencies (Transportation Security Administration, the military) and the private sector

What it does and where it™s going: Employee-owned Onyx of Alexandria Inc. provides planning, architecture and information technology services. Founded in 1982, the company had to wait a year to get its first contract. Onyx plans to reach $17 million to $20 million revenue within five years.

22. Clovis LLC | 39.5%

2007 $13.58 million

2008 $19.92 million

2009 $26.36 million

Clients: Federal agencies, financial services organizations and airlines.

What it does and where it™s going: Clovis LLC provides staff and recruiting services to the government and private sector with a focus on accounting and finance, information technology and work force management. Clovis credits large contracts for an increase in staffing and says the company™s ability to adapt and innovate has enabled it to grow despite difficult economic times.

23. Stanley Inc. (CGI Group Inc. acquired Stanley Inc. in August 2010) | 38.3%

2007 $409.41 million

2008 $604.34 million

2009 $779.68 million

Clients: Federal civilian, defense and intelligence agencies

What it does and where it™s going: Stanley Inc. provides engineering, biometrics, management, communications, intelligence operations, logistics and training services to federal agencies. The company says the combination with CGI Group Inc. will solidify its position in the $80 billion federal government market, opening up opportunities in the defense and intelligence areas.

24. Guident Technologies Inc. | 37.8%

2007 $22.75 million

2008 $34.68 million

2009 $42.69 million

Clients: Government agencies (the departments of Agriculture and Defense) and private sector customers including AOL Inc., Comcast Corp., Wells Fargo & Co., Apotex Inc. and Revolution Health LLC

What it does and where it™s going: Guident Technologies Inc. provides consulting services in business intelligence, management and systems engineering. The company, which works with 20 federal agencies, projects 25 percent growth for the next three years.

25. Rosetta Stone Inc. | 36.5%

2007 $137.32 million

2008 $209.38 million

2009 $252.27 million

Clients: Government agencies, the military, businesses, schools and the general public

What it does and where it™s going: In case you haven™t seen the ubiquitous ads, Rosetta Stone Inc. sells language learning software. The company™s system combines technology with a person™s natural ability to learn a language. Rosetta Stone recently introduced its Version 4 TOTALe service, which will add online activities that enable leaners to interact with native speakers.

26. Applied Information Sciences Inc. | 36.2%

2007 $19 million

2008 $28 million

2009 $35 million

Clients: Federal, state and local governments and the private sector (Marriott International Inc., Dell Inc. and Geico)

What it does and where it™s going: Applied Information Sciences Inc. provides software and systems engineering services to government and businesses. With an average employee tenure of eight years, it views employee longevity as one of its strengths in building the company during the past quarter-century.

27. CodeRyte Inc. | 36.1%

2007 $5.89 million

2008 $8.51 million

2009 $10.86 million

Clients: Academic (Cornell University™s Weill Medical College), nonprofit (Mayo Clinic), and commercial (Radiological Associates of Sacramento) medical centers; physician groups (Doctors Imaging Group) and billing companies (Physicians Business Network)

What it does and where it™s going: CodeRyte Inc. provides computer-assisted coding and data extraction services for the health care industry. The challenges ahead include managing the stream of regulatory changes.

28. Service Force USA LLC | 36.1%

2007 $19 million

2008 $24 million

2009 $35 million

Clients: Businesses operating dispersed facilities (chains and multinational companies) in the retail, manufacturing, commercial and real estate industries.

What it does and where it™s going: Service Force USA LLC provides facilities management services, such as janitorial, plumbing and grounds maintenance, for companies with operations scattered over a wide area.

29. immixGroup Inc. | 35.3%

2007 $221.47 million

2008 $280.32 million

2009 $403.72 million

Clients: Federal, state and local governments, commercial hardware and software manufacturers and their partners.

What it does and where it™s going: ImmixGroup Inc. helps technology companies sell their products to the government and manage government contracts. It also provides information technology services, as well as market intelligence briefings and recruiting. The company adds about 20 workers a year.

30. United Therapeutics Corp. | 32.4%

2007 $210.94 million

2008 $281.5 million

2009 $369.85 million

Clients: Doctors

What it does and where it™s going: United Therapeutics Corp. develops and commercializes medical products, including the pulmonary arterial hypertension drug Remodulin. In the second quarter, the company experienced a rise in demand for its therapies, which generated revenue of $137.5 million, up from $84 million in the same quarter in 2009.

31. Binary Group | 30.1%

2007 $19.71 million

2008 $29.26 million

2009 $32.7 million

Clients: Federal government (Department of Defense, particularly Department of the Army), commercial clients in the transportation and logistics industries as well as Fannie Mae and Sprint Nextel Corp.

What it does and where it™s going: Binary Group, an information technology services company, develops enterprise architecture, governance models and engineering for the defense and national security sectors.

32. Accelovance Inc. | 30.1%

2007 $6.04 million

2008 $7.42 million

2009 $10.19 million

Clients: Sponsors of clinical trials, which include food and drug companies

What it does and where it™s going: Accelovance Inc. generates its revenue through patient centers, call centers and contract research organization. The company provides research space and does recruitment and management of study participants. Accelovance is expanding its contract research organization business into Brazil, India and Russia.

33. ASG Security | 29.9%

2007 $54 million

2008 $77.68 million

2009 $90.02 million

Clients: Homeowners, business owners and government agencies in the mid-Atlantic and Texas regions

What it does and where it™s going: ASG Security provides electronic security services including alarms, theft alerts, surveillance and access control. The company monitors its service levels to determine when and where resources and programs need to be implemented or strengthened to maintain controlled and sustainable growth.

34. Sentel Corp. | 29%

2007 $44.3 million

2008 $56.95 million

2009 $73.71 million

Clients: Federal government agencies and the military

What it does and where it™s going: Sentel Corp. is an engineering services company that develops and implements technology for defense, communications and security organizations. Sentel has consistently expanded its high-end technical capabilities in the company™s core areas of spectrum and electromagnetic engineering, test engineering and technology integration.

35. Intelligent Decisions Inc. | 28.7%

2007 $187.36 million

2008 $221.1 million

2009 $308.34 million

Clients: Federal agencies such as the intelligence community and the departments of Defense and Commerce, also the private sector

What it does and where it™s going: Intelligent Decisions Inc. provides civilian, defense and intelligence technology services, including infrastructure protection, emergency communication, hardware, software, data management, systems engineering and online security. The company credits years of strategic planning for its rapid growth.

36. Ace Info Solutions Inc. | 28.4%

2007 $14.02 million

2008 $17.33 million

2009 $23.09 million

Clients: Federal agencies (departments of Agriculture, Commerce and Justice) and the private sector (Exostar LLP, Employment Enterprises Inc., Checks and Balances Inc.)

What it does and where it™s going: Ace Solutions Inc. is an information technology consulting, network security and software development company. It is planning to pursue contracts with the Department of Defense and the Air Force.

37. iCore Networks Inc. | 28.3%

2007 $11.37 million

2008 $17.03 million

2009 $18.19 million

Clients: Small and medium-size businesses (Forrester Construction Co., Hitt Contracting Inc. and Capitol Solutions)

What it does and where it™s going: iCore Networks Inc. provides telecommunication services, including Voice over Private Internet, using its own circuits. The company opened a new network operations center in June with advanced capabilities to better protect against the threat of cyberattacks and telecommunication outages.

38. Chindex International Inc. | 27.3%

2007 $105.92 million

2008 $130.06 million

2009 $171.44 million

Clients: Chinese hospitals, patients in China

What it does and where it™s going: Operating in China, Chindex International Inc. has a Western-style private hospital network, named United Family Healthcare, and a medical products division, which provides marketing, distribution and services involving medical capital equipment and instrumentation.

39. Strayer Education Inc. | 26.9%

2007 $318.01 million

2008 $396.28 million

2009 $511.96 million

Clients: Students, including working adults

What it does and where it™s going: Strayer Education Inc. is the holding company behind Strayer University, which offers undergradaute and graduate degrees with courses held in classrooms and online. It opened 11 campuses in 2009, taking the company™s total number to 71. Strayer™s expansion, for the most part, has been an incremental move outward from the Washington area where it began.

40. Honest Tea Inc. | 26.5%

2007 $20.62 million

2008 $31.23 million

2009 $31.71 million

Clients: Consumers

What it does and where it™s going: Created 12 years ago, Honest Tea Inc. produces tea drinks, tea bags and citrus beverages. Its drinks have gained national attention, and Honest Tea is the official tea of the Washington Nationals. While the company has traditionally focused on the East and West coasts, it is moving more into the Midwest because of its connection with Coca-Cola Co., which bought a 40 percent stake in 2008.

41. Catalyst Health Solutions Inc. | 25.4%

2007 $1.86 billion

2008 $2.54 billion

2009 $2.89 billion

Clients: Self-insured employers including state and local governments, managed care organizations, unions, hospices, third-party administrators and individuals

What it does and where it™s going: Catalyst Health Solutions Inc. manages prescription drug benefits. In September, it acquired the FutureScripts pharmacy benefits management network of Philadelphia-based health insurance company Independence Blue Cross for $225 million.

42. SCI Consulting Services Inc. | 25%

2007 $24.31 million

2008 $34.19 million

2009 $37.39 million

Clients: Federal agencies (the departments of Energy, Education and Homeland Security)

What it does and where it™s going: SCI Consulting Services Inc. is a woman-owned information technology services provider for the federal government. Its CEO, Lynette Spano, was recently named a Washington-area finalist in Ernst & Young LLP™s Entrepreneur of the Year competition.

43. NCI Inc. | 24.2%

2007 $304.42 million

2008 $390.6 million

2009 $468.91 million

Clients: The Senate, the intelligence community and federal agencies such as the departments of Defense, Commerce and Energy

What it does and where it™s going: NCI Inc. offers information technology, engineering, logistics and professional services. The IT services include network engineering, cybersecurity and systems management. In its 2005 initial public offering, the company had expected to reach $500 million revenue by 2010. NCI says that goal is within sight.

44. Fulcrum IT Services Co. | 24.1%

2007 $12.62 million

2008 $14.51 million

2009 $19.34 million

Clients: The intelligence community and federal agencies such as the Department of Defense, NASA and the National Institutes of Health

What it does and where it™s going: Fulcrum IT Services Co. designs and installs information technology systems, develops applications and manages networks for businesses and local, state and federal governments.

45. Customer Value Partners | 24%

2007 $13.85 million

2008 $16.08 million

2009 $21.21 million

Clients: The financial services, health insurance, media and telecommunications sectors and the federal government

What it does and where it™s going: Customer Value Partners helps organizations manage their relationships with clients through customer acquisition, service, retention and growth. Government work is 70 percent of the total business. Customer Value Partners says its main challenge is competition from large companies.

46. DynCorp International Inc. | 23.9%

2007 $2.08 billion

2008 $2.14 billion

2009 $3.1 billion

Clients: Government, with a focus on defense, security, diplomacy and international development

What it does and where it™s going: DynCorp International Inc. provides support services for the federal government. The company had a change in CEO this August when Steven Gaffney replaced William Ballhaus, who now serves on the board of directors. In July, DynCorp became a wholly owned subsidiary of Delta Tucker Holdings Inc.

47. Singleton Electric Co. Inc. | 23.5%

2007 $52.97 million

2008 $71.38 million

2009 $80.16 million

Clients: Federal, state and local agencies

What it does and where it™s going: Singleton Electric Co. Inc., an electrical contractor that specializes in large industrial government work, helped restore power to sections of the Pentagon after the Sept. 11 terrorist attack. Its projects have included government buildings, historical renovations, sewage treatment systems and hospitals. The company has won a large number of contracts in recent years, which produced its rapid growth.

48. Audio Video Systems Inc. | 22.9%

2007 $25 million

2008 $35 million

2009 $37 million

Clients: Federal, state and local government agencies, higher education institutions and businesses including The Carlyle Group and Gannett Co. Inc.

What it does and where it™s going: Audio Video Systems Inc. is a design, engineering and systems integration company that specializes in audio, video and control facilities for command and control centers, video teleconferencing facilities, classrooms, conference rooms and auditoriums. In November 2009, the company reorganized its corporate structure and leadership to prepare for future growth and better service. Audio Video Systems realigned its departments into three units: operations, sales and marketing, and support. The company is projecting that its revenue will double in the next three years.

49. Avineon Inc. | 21.9%

2007 $31.12 million

2008 $41.08 million

2009 $45.91 million

Clients: Federal, state and local government agencies and private sector clients including large utilities and offshore companies

What it does and where it™s going: Avineon Inc. provides information technology, engineering, geospatial and program management services. The company has offices in Florida, Canada, Europe and India. Avineon recently introduced its Readiness Index, which allows companies to test their emergency preparedness. Constant threats to systems and infrastructure are escalating the need for emergency preparedness and business continuity, the company says.

50. TNS Inc. | 21.9%

2007 $325.56 million

2008 $343.99 million

2009 $474.82 million

Clients: Retail, financial and telecommunications businesses including Co-Op Financial Services, American Roaming Network Inc. and Interxion

What it does and where it™s going: TNS Inc. is a provider of data communications and interoperability services. It offers transaction and payment processing services, including assistance with ATM transactions. It also provides signaling, roaming and network services to fixed, mobile, broadband and Voice over Internet Protocol operators around the world. The company recently acquired Cequint Inc., which offers enhanced caller ID services by working directly with wireless operators and handset manufacturers. TNS says the move has given it strong product pipelines and development capabilities.

http://washington.bizjournals.com/washington/stories/2010/10/11/tidbits1.html?b=1286769600^4052541&page=1

Read more: Washington’s Fastest Growing Companies – Washington Business Journal

Washington Business Journal – by Jeff Clabaugh

Friday, October 8, 2010

For sellers, the transaction isn™t only about how much they get for their homes, but also how long it takes to sell them. And things are improving on that front in the Washington market, too.

Metropolitan Regional Information Systems Inc. reports homes in the Washington region spent an average of 8 days fewer on the market in September compared to a year ago. Nearly 40 percent of homes that sold last month sold in less than 30 days.

Prices also continue to climb.

œThe Washington metropolitan region™s housing market continues to show signs of recovery, especially in the District and adjacent counties, said Jonathan Hill, president of RealEstate Business Intelligence LLC, an MRIS subsidiary. œThe encouraging news is while some counties have a decrease in the number of homes sold year to date, on average, the sales price of homes has increased.

Among strongest markets this year, the District, where sales are up 13 percent from 2009. Year to date sales in Montgomery County are up 7.5 percent so far this year, and sales are up almost 36 percent in Prince George™s County, one of the hardest-hit counties in the housing slowdown.

Read more: D.C.-area houses are selling faster – Washington Business Journal

http://www.bizjournals.com/washington/stories/2010/10/04/daily66.html

Ruby Washington/The New York Times

By Christine Haughney
October 4, 2010

The old model apartment at 650 Avenue of the Americas was decorated in red and white leather and featured a swinging chair.

It wasn™t just the swinging chair, strung from the ceiling, that was distracting. When apartment hunters stepped into the third-floor studio for sale at 650 Avenue of the Americas, they found a white leather circular bed with red pillows and a hanging L.E.D. lamp with colors shifting from green to blue. Some said it reminded them of the film œ2001: A Space Odyssey.

 

 

Ruby Washington/The New York Times

John Gomes, of CORE Marketing Group, in a different apartment in the same building.

œThey would laugh, said one of the listing brokers for the building, John Gomes. This was the model apartment for a condominium conversion project, and it was not selling itself, much less helping to sell other apartments in the same building as it was intended to do. Mr. Gomes, of CORE Marketing Group, who took over listings in this Flatiron district building in April, stopped showing the model after roughly six viewings. œI quickly realized that it hurt more than it helped.

Mr. Gomes knew it would take more than replacing towels to make buyers feel comfortable in a space where even Lady Gaga might crave beige walls and cream couches. With help from a decorator, he had the white wood floors stained a darker shade and installed furniture more commonly found in Manhattan apartments, like a rectangular bed. He strategically placed on the kitchen counter martini glasses, a bowl of lemons and a shaker primed for after-work cocktails and left around reading material like the Sotheby™s catalog.

œThis is the way I would live, and a lot of people can identify with this, said Mr. Gomes as he walked through the new model unit.

His efforts have paid off. Mr. Gomes said that he had sold 20 apartments in the 67-unit building and had three contracts signed last week for apartments similar to the $925,000 model.

He says that the changes mean œpeople can see it now.

During the real estate boom, eager buyers bought apartments requiring enormous imagination to picture as homes: They bought unbuilt apartments or empty spaces with blank walls. When brokers put any furniture in model apartments, it was often abstract pieces like swinging chairs or orange couches.

Today, buyers are much less likely to take risks on apartments where they cannot figure out how to fit in their sofa bed or sideboard. So brokers have been redecorating old model units or filling unfurnished apartments.

œThe difference between three years ago and now is that you could have actually shown an empty apartment without much staging, said Shaun Osher, chief executive of CORE. His firm now stages apartments that œleave as little up to the imagination as possible.

For some high-end listings, Mr. Osher orders brokers to fill cabinets with fine china, not just œdishes in there from Kmart. He has even had brokers fill closets of for-sale apartments with clothing like œLouis Vuitton, Prada, Chanel, Paul Smith.

œIf you™re going to hang anything in the closet, it should be a name brand that the buyer can relate to, Mr. Osher said. The clothing and accessories do not go to waste: they get moved to the next condo project.

Since 2007, brokers had been trying to sell a seventh-floor two-bedroom apartment at One Brooklyn Bridge Park. Rachel Poggi, the building™s director of sales, had it professionally decorated and reintroduced after Labor Day for $1.275 million. When she opened the door to the apartment, it smelled and looked like an inhabited home. The coat rack at the front entrance had a woman™s polka-dotted raincoat. A bedroom was fashioned into a girl™s room, painted pink, featuring a bed with a hastily tossed baby doll and a dresser lined with glittery sunglasses and a pink purse. Another model unit had a room made up for a boy. Ms. Poggi said that since she had the apartment staged, two buyers, including a couple wanting to start a family, made offers.

œIt™s been pretty consistent that when we furnish an apartment that we get multiple offers within days, Ms. Poggi said.

When the developers of 189 Schermerhorn put their apartments up for sale in 2009, they filled units with bright orange chairs and made it what Aaron Lemma, a Corcoran broker selling units there, called œdormlike.

Late last year, the project was taken over by one of its investors, Jamestown Properties, and the developer handed back deposits on the sold units and started from scratch. When the apartments came back up for sale in May, the apartments were fully decorated in subdued designs. One 16th-floor two-bedroom apartment was decorated in pale shades of blues and browns and was decorated with clean-lined furniture like the Goodwin sofa from West Elm and a table set with flatware from Crate and Barrel. Another one-bedroom unit featured dark-wood built-in cabinets that buyers could buy at a discount for their unit to get a better sense of how they would create more storage space. Mr. Lemma said that 137 out of 246 units have gone to contract.

Some buyers are following the building™s decorating style. Liz Day is closing on Thursday on a one-bedroom apartment. She liked how the model apartment was staged so much that she thought about buying its couch, but she needed a sofa bed. She plans to paint her bedroom the same mocha color of the model. She credited the decorations with helping her to think œabout paint colors early and where art would hang.

œWhen they decorate them in a style that sort of feels like your style, you™re much more likely to make it feel like home, she said.

http://www.nytimes.com/2010/10/05/nyregion/05appraisal.html