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May 21

America’s 10 Richest Counties

May 21, 2012 By Leave a Comment

There are 3,033 counties in the United States. Which 10 are the richest in terms of median household income? Not surprisingly, those near major economic centers rank high. In a study based on household income estimates from the Census Bureau's American Community Survey, Loudoun County, Virginia captures the number one spot in America's Richest Counties. Loudoun County is a Washington, D.C. suburb and is home to Dulles International Airport, as well as a well-educated workforce. The … [Read more...]

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May 18

Is More Fed-Led Stimulus On Its Way?

May 18, 2012 By Leave a Comment

The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready in the event additional monetary stimulus is needed. The Fed Minutes function much like the minutes from a business meeting; or, condominium association meeting, for example. It's a detailed review of the conversations and debates between FOMC members, and is typically published 3 weeks after a Federal Reserve meeting. The Fed Minutes is a follow-up statement on the … [Read more...]

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May 17

Home Affordability Getting A Springtime Boost From Greece

May 17, 2012 By Leave a Comment

Home affordability is receiving a boost from across the Atlantic Ocean this spring. For the third time in as many years, a weakening Eurozone is pushing May mortgage rates to new lows throughout DC and nationwide. The story centers in Greece and begins in 2010. 2 years ago, it was uncovered that successive Greece governments had purposefully misreported the nation-state's economic statistics in order to meet European Union standards. The fraudulent data had permitted Greek governments … [Read more...]

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May 16

M Squared Real Estate Announces Ultra-Modern, New Condo Residences for Shaw, Washington DC.

May 16, 2012 By Leave a Comment
kitchenfinal

M Squared Real Estate has today announced the upcoming availability of residences within the new 515 Q Street Condominium property. Set within the bustling Shaw neighborhood and developed by Devereux Ventures, these new residences offer luxury living within one of Washington DC’s most sought after areas. Of course, owners will find much more to love than the location. 515 Q Street is a new condominium development, featuring all-new construction and three different residences. Constructed … [Read more...]

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May 10

8-Fold Increase In “Improving Markets” Since September

May 10, 2012 By 1 Comment
Improving Market Index

The economic recovery continues nationwide, but the recovery's an uneven one. Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling. To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, a metric analyzing three separate, independently-collected data series "indicative of improving economic … [Read more...]

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May 09

With LIBOR Low, Don’t Rush To Refinance Your ARM

May 9, 2012 By Leave a Comment
Adjustable Rate Mortgage

Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in District of Columbia are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without paying the closing costs. Currently, conventional adjustable-rate mortgages are adjusting to near 3.00 percent. If your home is financed via an adjustable-rate mortgage, you're likely cognizant of your loan's life-cycle. At first, your … [Read more...]

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May 07

Small Repairs That Can Raise Your Sales Price

May 7, 2012 By 1 Comment

If you're actively preparing to list your home for sale, resist the temptation to make major home improvements. Nationwide, home improvement projects recoup just 58 cents on the dollar, says Remodeling Magazine. Rather, for a better return on your time and money, focus on the minor projects instead. It's the smaller projects in DC that tend to have a bigger, long-term payoff. So, how do you determine which projects are the "smaller ones"? It's obvious when you think like a … [Read more...]

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May 04

Planning For A Memorial Day Closing

May 4, 2012 By Leave a Comment

Planning to close on your home at the end of May? Plan ahead. Memorial Day is coming and the holiday may delay your closing. Memorial Day marks the unofficial start of summer and the 3-day Memorial Day weekend is a popular vacation time in real estate-related industries. Real estate agents tend to take time off because fewer of their clients are actively home shopping on a holiday weekend; mortgage lenders are closed because banks don't operate on a federal holiday; and, title agents are … [Read more...]

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May 02

Home Values Start The Year Strong

May 2, 2012 By Leave a Comment
DC Home Values Start Year Strong

Home prices started the year on an upswing. According to the Federal Home Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.3 percent between January and February 2012. The index is up 0.4% over the past year, offering a counter-story to the Case-Shiller Index's assertion that home values are sinking. Last week, Standard & Poor's Case-Shiller Index said home values had dropped more than 3 percent in the prior 12 months. As a home buyer or seller in … [Read more...]

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May 01

Mortgage Guidelines Resume Tightening Nationwide

May 1, 2012 By 2 Comments
Mortgage Guidelines Tighten

Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom. Last quarter, by a margin of 3-to-2, more banks tightened residential mortgage lending standards for "prime borrowers" than did loosen them. A "prime borrower" is defined as one with a well-documented credit history, high credit scores, and a low debt-to-income ratio. The insight comes from the Federal Reserve's quarterly survey of its member banks. Last quarter, of the 54 … [Read more...]

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