FHA to Move to Risk-Based Pricing - 05/22/08 09:18 AM
FHA announced today that it will begin using a risk-based pricing model.  Meaning, applicants with lower FICO scores and down payments will pay a higher interst rate and insurance premium.  However, applicants with higher FICO scores and down payments will pay a lower interest rate and insurance premium than they are currently paying.  Click on the link below for a good article from Realty Times on the subject:
http://realtytimes.com/rtpages/20080519_washingtonreport.htm
 
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Now That the Housing Crisis is Over... - 05/12/08 01:58 PM
I thought you folks out there might enjoy a little post-housing crisis market report.  Here is a break down on post-crisis sales in Northwest D.C. for the month of May thus-far:
49 single family homes have closed since May 1, 2008 in NW D.C.
The average list price was $1,053,714 and the median list price was $869,500
The average sales price was $1,012,558 and the median sales price was $853,500
The average list price to sales price ratio is 96% and median was 98%
Average seller subsidy was $1,359
The average days on market was 37
HAPPY HOUSE-HUNTING!!
 

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The Housing Crisis Is Over - 05/12/08 01:42 PM
According to Wall Street Journal writer, Cyril Moulle-Berteaux, April of 2008 was most likely the bottom of the market.  Click here to read this great article:
http://online.wsj.com/article/SB121003604494869449.html
Now, for all those of you out there who are on the fence waiting for the market to bottom out before you buy, this is it.  Interest rates are amazing.  Get in now while prices are at their lowest!  We are in for a rebound over the next couple of years starting now.
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Shari Walker (LICENSED IN DC, MD, & VA)

Washington, DC

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Keller Williams

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