What is an Appraisal? - 09/21/07 03:55 PM
An Appraisal is a report completed by a (licensed) expert; determining the value of the property. Typically when you are buying a property with a mortgage; your lender will order an Appraisal.
The duties of the Appraiser is do determine; just how much the (Subject Property) is worth. They do this by … (4 comments)
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Does a Lower Fed Rate Mean Opportunities are on the Rise? - 09/19/07 06:41 AM
For the first time in over 4 years, the Fed has cut its Fed Funds Rate, which directly impacts millions of American borrowers. And while this important decision has many implications, there's still some debate among experts about what this means to the economy as a whole.
A change in the FED Funds Rate DOES … (6 comments)
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How much does that Interest Rate drop save me? - 09/18/07 11:04 PM
I remember last spring when I had a buyer that had waited just over a year to buy his home. He had been pre-approved and ready to go; but then stories of the "BUBBLE" scared him away.
He felt that the market outlook in Northern Virginia looked better; so he was ready to buy. What … (5 comments)
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Limited Service Agents - 09/18/07 09:22 AM
After my discussion about Part-Time Agents : CLICK HERE ; I am almost afraid to discuss any other group of Realtors; but here goes...
There are more and more "Limited Service" Brokers and Realtors entering the marketplace. The business case for this is simple: I, the consumer, am smart, able, have the Internet, and … (9 comments)
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What's Selling - DC - Logan/Mt Vernon Square Neighborhoods - 09/17/07 09:17 AM
Properties that sold 9/10-9/17
ADDRESS: LIST PRICE CLOSE PRICE DAYS ON MARKET
1701 16TH ST NW #604 $165,000 $152,500 273
1816 6TH ST NW $399,000 $$350,000 188
425 M ST NW #F $449,000 $432,000 72
1314 MASSACHUSETTS AVE NW #507 $194,000 $194,000 0*
910 M NW #117 $504,900 $504,900 27
1007 V ST NW $325,000 $335,000 9
1312 MASSACHUSETTS AVE NW #405 $399,500 $375,000 26
1921 9 1/2 ST NW $539,000 $521,000 24
1300 N ST … (0 comments)
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DC Market Update 9/17/07 - 09/17/07 08:54 AM
Current Number of Homes Active and Under Contract: Here is the breakdown as of Sept 17th, 2007
Overall in the Washngton DC area the number of homes For Sale, are following the normal seasonal trends. The number of "Active" properties has increased as home owners try to sell before winter and the … (0 comments)
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Will Interest Rates Drop? Now may be the time to buy! - 09/15/07 10:11 PM
There has been much talk lately that the FED's cut next week will be from 1/2 to as much as 1 percent. While the FED'd rate does not equate to mortgage rates; it does sometime help boost mortgage back securities which may in fact help Interest rates.
This could mean a slight drop in mortgage interest … (3 comments)
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New Home or Old Home? - 09/14/07 11:05 PM
Lately I have had several clients recently who wanted a NEW home or a NEW condo. Not a condo that is newly renovated - NO - they want NEWLY built within the last 10 years.Is newer better? Or is the older home the better home? I have heard many comments about … (2 comments)
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"AS IS" - Seller could be making a HUGE mistake! - 09/13/07 08:51 AM
The Real Estate market for the most part is a Buyer's Market. This varies from area to area (having a couple of buyers recently lose out on a deals with multiple offers in Washington DC ), but in general there are more homes to be sold than buyers to buy.
Home buyers have … (2 comments)
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What's Selling - DC - Logan/Mt Vernon Square Neighborhoods - 09/10/07 07:42 AM
Properties that sold 9/04-9/10
ADDRESS: LIST PRICE CLOSE PRICE DAYS ON MARKET
1115 12TH ST NW #605 $337,500 $320,000 36
449 R ST NW #202 $423,352 $430,000 60
1529 14TH ST NW #302 $464,000 $464,000 32
1512 MARION ST NW #101 $260,000 $260,000 0*
1312 MASSACHUSETTS AVE NW #203 $354,900 $350,000 4*
1015 O ST NW $725,000 $710,000 118
*Units were part of multi-unit, newly-built complexes; DOM may not be … (0 comments)
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DC Market Update 9/10/07 - 09/10/07 07:23 AM
Current Number of Homes Active and Under Contract: Here is the breakdown as of Sept 10th, 2007
Overall in the Washngton DC area the number of homes For Sale, are following the normal seasonal trends. The number of "Active" properties has increased as home owners try to sell before winter and the … (0 comments)
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Please - We don't need a tour - We can find our way - 09/09/07 09:51 AM
Everyone once in awhile - maybe 1 in 7 times - I am showing a property with my buyer and the owner is home. What the owner should do (and what I tell my sellers) is to excuse themselves and go for a walk.
Instead some owners feel they need to give … (6 comments)
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Open House - 09/08/07 03:49 PM
This is FANTASTIC location; in the heart of Dupont. A short 2 block walk to the Red Line Metro and easy access to downtown DC. Sell the car and walk to blocks to everything you could need.
Features include: Murphy bed, floor to ceiling windows, updated kitchen, and a large walk-in … (2 comments)
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What is a JUMBO Loan? - 09/08/07 03:35 PM
Many folks ask me - What is a Jumbo Loan? For many 300,000 seems like a JUMBO loan - but it's not (just a whole lot of money!).
A Jumbo Loan is : A mortgage for an amount that exceeds conventional conforming loan limits. These determine which loans can be bought by Fannie … (1 comments)
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Interest Rates Update... - 09/08/07 03:25 PM
When talking about Interest Rates; BAD News is GOOD News.
HUH? Basically when the economy gets bad news - Interest Rates tend to decline. When the economy get good news - rates generally climb.
This week the August job report came out and showed a 4,000 job loss. The Dow Jones dropped 250 … (1 comments)
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Where are the pictures for that listing? - 09/06/07 09:35 PM
Many buyers say this while looking for homes for sale on my website and there is only 1 (or no) pictures.
They see this "No Photo Available"screen in the MLS Listing... Fancy Isn't it? ---------->
Why agents do not put photos in the MLS is unbelievable. What the public may not know … (6 comments)
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LABOR DAY TURNS 125 YEARS OLD! - 09/04/07 11:41 AM
September 3, 2007 is Labor Day! Did you know that this national tribute to workers in America began with the humble roots of a parade back in 1882? The parade took place on September 5 in New York City and featured 10,000 workers.
By 1893, more than half the states were observing … (0 comments)
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What's Selling - DC - Logan/Mt Vernon Square Neighborhoods - 09/03/07 12:05 PM
Properties that sold 8/28- 9/03
ADDRESS: LIST PRICE CLOSE PRICE DAYS ON MARKET
20 LOGAN CIR NW #LL-2 $387,500 $372,500 130
1300 MASSACHUSETTS AVE NW #306 $359,000 $348,000 79
1541 3RD ST NW $440,000 $470,000 30
1711 13TH ST NW #2 $749,000 $735,000 28
910 M STREET NW #303 $497,400 $484,400 34
1001 L ST NW #407 $399,000 $390,000 6
This area … (0 comments)
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DC Market Update 9/3/07 - 09/03/07 09:57 AM
Current Number of Homes Active and Under Contract:
Here is the breakdown as of Sept 3rd, 2007
Overall in DC area the number of homes For Sale, are following the normal seasonal trends. While the number of "Active" properties has dropped; because so many other homes have either been taken off the market … (0 comments)
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Are lenders trying to scare me? - 09/01/07 11:43 AM
We have all seen the TV Ads, emails and are hit at home with letters from various lenders about how we should refinance now!
The letters are I have received at my own home are becoming increasingly insistent that refinancing NOW is an urgent matter. This past week; I even received an … (2 comments)
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