Starting Dec. 15, about 20,000 real estate professionals in this area will start getting a free, semi-monthly publication called Real Estate Washington, created by William A. Regardie, who puts out the New Homes Guide and Housing Data Reports. Executive editor Regardie said the first 104-page issue will have feature an article on the Holland & Lyons real estate and development firm and also 17 columns by real estate professionals. Randy Bartow, publisher of New Homes Guide, will also be publisher of the new pubication. The editor is Randy Rieland, formerly of the Baltimore Sun. "Every phase of real estate will be covered," said Regardie, a former staffer of the Suburban Maryland Home Builders Association and former marketing man for Levitt & Sons here.

A 192-acre tract at the beltway and Rte. 50 in Fairfax County was sold recently for $4.8 million by J. W. Chiles Jr., trustee, to Fox Chase Joint Venture, headed by developers William Plank and Reid Wills. The site, zoned for housing, is near Mobil Oil's development tract near Gallows Road.

Some Washingtonians who attended the recent realtor convention in Honolulu were bivouacked at the sprawling Hilton Hawaiian Village, a complex of 1,600 hotel rooms in four high-rise buildings on the ocean. Some of them heard entertainer Art Linkletter tell a convention luncheon that he was skeptical of the site's potential 23 years ago. That's when the original developer, Henry Kaiser, told Linkletter of plans for a hotel complex that would accomodate some of the millions of tourists who would be coming to Honolulu. "I thought he had lost his marbles, because there were only 30 or 40 thatched huts on the site then. But everything the late Mr. Kaiser said about expanded air service and tourism happened.... And I didn't buy one square inch of land," Linkletter lamented.

Oliver A. Cowan Jr., a supersuccessful broker with Snider Bros., recently sold the 45-unit, 50-year-old apartment building he owned at 1316 New Hampshire Ave. NW to Hampshire House Associates Joint Venture for $1.4 million. The site is just south of Dupont Circle. Cowan allowed as how the contract included a certificate for conversion to condominium ownership. So what else is new?

Robert A. Beer, the area's resident mortgage broker for the Ivor B. Clark Co. Inc., is telling clients that life insurance companies will have more than 33 percent more money available for mortgage commitments in 1979.