washington: There are Lots of Decisions for Buyers and Sellers These Days
- 02/08/10 01:27 PM
Buyers have lots of choices as they navigate the home search process these days. Is it wiser to extend yourself to buy as much house as possible right now, while prices are good, rates are low and loans are still accessible to get? Or buy conservatively now, knowing that your move-up might be much more difficult and costly? Some buyers become paralyzed by all the decisions that should be made.
Should you plan to buy with an FHA loan, saving your cash cushion but risking not having your offer accepted by sellers who frown on FHA-financed offers, or buy with a conventional … (1 comments)
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washington: CHANGES COMING TO FHA GUIDELINES
- 01/20/10 01:51 PM
As lending requirements tightened up over the last two years, more and more buyers have turned to loans through the Federal Housing Administration. FHA insured almost 30 percent of all purchase loansand 20 percent of total refinances during the 12 months ending Sept. 30. First-time homebuyers accounted for nearly 80 percent of FHA-backed purchase loans in the second quarter of 2009. Now FHAlending requirements are tightening too.
Beginning early this summer, however, borrowers with credit scores below 580 will be required to make downpayments of at least 10 percent in order to participate in FHA's mortgage insurance program ratherthan the current … (0 comments)
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washington: Weekly Contact with Sellers - I'm All Ears
- 11/16/09 07:13 AM
My New Year's Resolution - (I am either early or very late) - is to institutionalize EVERYTHING - to systemize my workload. Monday is for following up with new buyers from open houses; Tuesday is to contact all the sellers; Wed. is .... You get the point.
I decided to include the following in my report to sellers each week.
1. Who Showed the House and comments
2. What has sold in the neighborhood and new listings or new price changes.
3. What we did this week and how it worked.
4. What we are going to do next week.
5. Mortgage Update.
6. Hits on Realtor.com and … (5 comments)
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washington: OPEN HOUSE SUNDAY - NEW CONDO LISTING @ 2737 DEVONSHIRE Pl., WASH. DC
- 09/16/09 01:33 PM
Open from 2 to 5 Sunday, September 20
Please come to see a new listing at 2737 Devonshire Place, NW, # 503 - a very large 2 bedroom, 2 bath condo with a large entry foyer, gracious two level living room, separate dining room, and table space kitchen, Listed for $625,000, this special home is over 1500 sq feet of glorious architectural detail … (1 comments)
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washington: McLean Gardens is a Great Place to Live
- 08/19/09 03:31 PM
McLean Gardens is a residential neighborhood in Northwest Washington, D.C., bounded by Rodman Street NW to the north, Idaho Avenue to the south, Wisconsin Avenue to the east, and 39th Street NW to the west. At McLean Gardens, children still can meet each other on the playground, gardens can be planted in flower beds, dogs enjoy long walks with their owners on the sloping hills and yet the restaurants and shops and excitement of the city lie less than a block away. The National Cathedral sits just a few blocks away as an exquisite addition to the landscape.
The sense of community … (2 comments)
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washington: Best Pizza in DC
- 08/17/09 02:56 PM
My favorite pizza in DC is 2Amys on Macomb St and Wisconsin Ave., just down the street from McLean Gardens. With its wonderful wood fire to bake the pizzas and open kitchen, this neighborhood treasure has become a popular destination for dinner, particularly on the weekends. It has been voted the best pizza by Washingtonian Magazine readers, and Tom Sietsma of the Washington Post said: "Yep, it's noisy. And some days the place is so filled with half-pints and their handlers, the scene could pass for one big children's party. Just get a glass of vino and relax: You're about to eat some of … (4 comments)
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washington: What is the Secret in Coca Cola's Secret Formula?
- 08/11/09 02:56 PM
I have been reading Think and Grow Rich, by Napolean Hill, an old but still interesting book on the power of positive thinking
. The book is really interesting not just for the very powerful message that it shares, but also for the vignettes about people that you have heard of, but never knew much about in detail. He talks about Edison, Andrew Carnegie, Barnes, Armour, and a lot of other dynamos of the early 20th century.
For instance, do you know who invented Coca Cola? If you are from Georgia, or really any point south, you may well answer Asa Candler. However, … (12 comments)
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washington: A Letter to Buyers about Appraisals
- 07/22/09 01:59 PM
Dear Buyer,
You may have heard about the new changes in the appraisal laws for any Fannie Mae or Freddie Mac mortgages which took effect recently. Beginning May 1, the responsibility for managing home appraisals moved to a middleman, known as appraisal management companies or AMCs.Under new federal regulations, mortgage brokers and loan officers can't directly order appraisals. Instead, they are expected to go through third-party AMCs, which are supposed to prevent them from pressuring appraisers.
One fall out of these new regulations is that there may be fewer indpendent appraisers since the majority of them will now be on staff. This … (0 comments)
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washington: Celebrating the Cairo Condominiums in Dupont Circle
- 07/13/09 03:47 PM
Have you ever wondered why there are not very tall buildings in Washington, DC? Why are all the tall buildings across the river in Rosslyn? The answer goes back to 1899 and the Heights of Buildings Act.
In 1894, the Cairo, an apartment building at 1615 Q Street NW was completed by Thomas Schneider and stood 164 feet tall. With 12 floors, the Cairo's height caused a tremendous uproar among local residents, who asked Congress to limit the height of residential buildings in the District of Columbia to prevent more "skyscrapers" from being built. Congress passed the Heights of Buildings Act and has kept the … (1 comments)
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washington: Did You Know the Chinese Invented Fireworks?
- 07/03/09 04:08 PM
The most common legend isthat fireworks were discovered or invented by accident over 2000 years ago by a Chinese cook working in a field kitchen who happened to mix charcoal, sulphur and saltpeter (all commonly found in the kitchen in those days). The mixture burned and when compressed in an enclosure (a bamboo tube), the mixture exploded. Why the cook compressed a mixture like that into a bamboo tube is beyond me - but that is the story!
A Chinese monk named Li Tian, who lived near the city of Liu Yang in Hunan Province, is credited with the invention of firecrackers about … (4 comments)
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washington: Veterans are NOT Terrorists. I Called My Congressman and Senators
- 04/16/09 01:27 PM
I am furious about Homeland Security Secretary Janet Napolitano. The Department of Homeland Security recently issued a report that warned law enforcement officials that the recession, the election of the first black president and the return of war veterans could lead to a rise in "rightwing extremist activity." The warning, which was contained in a footnote to the report, also singled out "opponents to abortion or immigration" as ripe for recruitment by "rightwing extremists."
That was bad enough, but today, Ms. Napolitano told FOX News that to the extent veterans read the report "as an accusation, an apology is owed." Napolitano promised Thursday to "meet and … (5 comments)
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washington: Watching "On the Beach."
- 04/09/09 01:42 PM
I am checking my emails, reading ActiveRain and watching the movie, "On the Beach." I loved and feared this movie as a kid! Do you know this movie? I remember reading the book that preceded the movie when I was 7 years old and being scared witless of nuclear attack - the combination of the book, duck and tuck in school, and the Cuban missile crisis was too much for a child! While "On the Beach" seems a little sophisticated in retrospect, I should explain that my mother had the idea that I should be allowed to read anything I want … (9 comments)
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washington: No Heat/ No Water - Just Another Day Showing Houses
- 03/21/09 01:28 AM
When I got my associate broker's license in 1989, I joked with my family that I was going to sell $1M houses, pop bonbons, and drive a Jaguar. Of course, the market tanked immediately after I got my license, there were no bonbons (bad for my waistline). I never drove a Jaguar - always drove a Jeep (but hey- they both start with "J"), and I told my family that I was now selling $1M houses for $300k.
Then the market improved, and even rocketed beyond itself. Suddenly I was selling $300k houses for $1M. At least my family and my accountant were happy - … (20 comments)
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washington: An Open Letter to Buyers in the DC Metro Area
- 01/30/09 01:30 PM
Dear Buyers,
Welcome to the DC Metro Area housing market. It is exciting and more than a little nerve wracking. You have read all the newspaper reports, so you know that prices are soft, there is lots of inventory, and interest rates are fabulous. The affordability index is about as good as it has ever been. That may have been what brought you out into the market. You have been promised a deal by the Washington Post, and so a deal you must have, in order to feel confident that you are making the right decision. Then the economic news doesn't help either! Even … (1 comments)
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washington: A Few Brownies Can Earn Lots of Brownie Points
- 01/29/09 08:05 AM
If you have been in business longer than maybe a year, you know the lesson in this blog already, but if you are a newbie to real estate - take heart, and persevere.
On Monday I got a phone call from a new client who was coming from Florida to DC to look at property on behalf of his boss for the boss's son to live in while the son is in college in DC. And oh, by the way, the boss will probably use it while he is in town meeting with politicians on Capitol Hill. And oh, it probably would be good if the … (10 comments)
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washington: I Love the Responses I Get to My Blogs because I Feel Connected to Other ARs
- 01/28/09 01:20 PM
At least until last night. I posted a blog about the Lincoln Memorial and some memories of growing up in DC because I wanted to share a little bit of information about our nation's capital as home to lots of people besides the politicians. I love getting responses from all the Active Rainers out there from Hawaii to Maine, hearing your stories, and feeling connected to the real estate community at large - the ups and downs - we share them together. It is a wonderful sense of connection.
Then I read a response to my upbeat blog which said that … (15 comments)
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Buyers have lots of choices as they navigate the home search process these days. Is it wiser to extend yourself to buy as much house as possible right now, while prices are good, rates are low and loans are still accessible to get? Or buy conservatively now, knowing that your move-up might be much more difficult and costly? Some buyers become paralyzed by all the decisions that should be made.
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