‘How is the Housing Market Right Now?’ Answers Ahead | realtor.com®

‘How is the Housing Market Right Now?’ Answers Ahead | realtor.com®

The following answer is the straight gist copied from Cathie Ericson's post in Realtor.com.

Cathie Ericson is a journalist who writes about real estate, finance, and health. She lives in Portland, OR.

how-is-housing-market

For an accurate pricing picture, look only at the latest compsBoth buyers and sellers rely on comparables, aka comps, when determining a fair price. But that can get tricky as the market starts to turn, because sellers might be remembering a months-ago heyday and pricing accordingly.“Buyers should only consider the most recent comps, which means the last three months, because that is the most accurate reflection of where the market is,” says agent Jed Lewin of Triplemint in New York City.But don’t forget that it’s still very easy to insult a sellerYes, the house might have been on the market a few more days than it would have been last year and the comps might be sliding, but that doesn’t mean you can expect that anything goes when you’re buying a home in 2019.“I am seeing far more buyers starting to make very aggressive lowball offers in an attempt to test sellers’ appetites, even if they’re totally serious about a given property,” says Lucas Callejas, an agent at Triplemint. But in places where the market is still warm, that can turn sellers off—and turn their attention to the next offer that comes along instead of yours.You may be able to get a better interest rate than you thinkOne of the big stories of 2018 was rising mortgage interest rates—but while they ticked up precipitously by the end of last year, they’ve fallen a bit again, so you could be in a good spot, says Beatrice de Jong, director of residential sales at Open Listings, in Los Angeles.Bottom line: Now is the time to lock in a great rate, since today’s appealing numbers might not last long.“Interest rates are predicted to rise in 2019 and 2020, so buyers would be wise to shop for and lock in their interest rate as soon as possible,” de Jong says.Increasing rates can make a huge difference, she points out, noting that the difference between a 5% interest rate and 5.5% interest rate is $93 a month on a $300,000 mortgage loan, which can easily derail a buyer’s budget.So even if you are trying to improve your credit or save a few more bucks for the down payment, you might be better off just wading in and locking in the rate, says Jason Lerner, vice president and area development manager for George Mason Mortgage, in Lutherville, MD.“You might work for three months to burnish your credit, and then find that the rate has risen so much that it doesn’t make a difference,” he adds.Your credit score might be better than you thoughtTwo recent developments in credit scoring may help would-be buyers: One is the new UltraFICO, which takes into account how you manage your checking, savings, and money market accounts, in addition to your credit cards and consumer loans. And the second is Experian Boost, which adds your utility and cellphone bills into the mix.But even if you have a stellar record in all those areas, there’s no guarantee these will be your golden ticket, cautions Lerner. That’s because it’s still early days for these initiatives: UltraFICO is currently available only in a pilot phase in certain areas, and Experian has yet to launch the booster product, although it is taking sign-ups. But as these products become more widely available throughout the year, home buyers may reap the benefits.“A difference in 10 or 20 points to your credit score can make a difference between approval or denial—and can lower your rate, which can save thousands over the life of a mortgage,” Lerner points out. He also predicts that requirements will loosen a bit in 2019: “You might not think your credit is good enough for a mortgage, but it’s worth talking to a lender to see if there is a program out there that can help.”

Source: 'How's the Housing Market Right Now?' Answers Ahead | realtor.com®

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In our neighborhood and Open this Sunday –  2509 Brentwood Road NE, Washington, DC 20018 – 

In our neighborhood and Open this Sunday –  2509 Brentwood Road NE, Washington, DC 20018 – 

A great bargain at only $979,000! It is in our neighborhood and Opens this Sunday. We can set an appointment for you if you are not available this Sunday

2509 Brentwood Rd NE, Washington, DC 20018 $979,000
2509 Brentwood Rd NE, Washington, DC 20018 $979,000

2509 Brentwood Road NE, Washington, DC 20018

Welcome to 2509 Brentwood Road NE ~ This beautifully renovated spacious light filled Woodridge home boasts over 3,000 square feet of sensible living space across FOUR finished levels w/ all NEW systems, hardwood floors, full French drain, 9ft ceilings, and new (sash) windows. This detached all-brick home was built in 1924 and fully renovated in 2019 has FIVE generously sized bedrooms, FOUR full baths and a powder room. A gracious foyer leads to a gourmet kitchen w/ quartz countertops, stainless steel appliances, hooded gas range, custom cabinets and an open kitchen/dining space w/ French doors that open onto a covered porch on one side and a formal living room w/ a wood burning fireplace on the other. A fabulous mudroom and powder room complete the main level. Enjoy the seasons in DC on THREE big covered porches, perfect for outdoor living! The second level, w/ THREE bedrooms and a hall bath join a generously appointed master suite w/ its own sun-room, walk-in closets and luxury bath. The top level has a private space/bedroom and full bath. The fully finished lower level (walk-out access to the back yard) has a family room, bonus room/office, a full bath and laundry center. This deep lot is over 9,500 square feet that feels like a park in the middle of city, and has mature trees, space for your urban garden, space for a play area, brick paths and a flagstone patio! Under ONE mile to a Capital Bike Share station. Under TWO miles to Metro, shopping, Starbucks, Atlas Brewery, Menomale, Brookland's Finest, Right Proper Brewing, DC Brau and more. Union Market, Trader Joe's, National Arboretum and Hyattsville Arts District are under THREE miles away.

All-Brick Woodridge Home - Ready for Spring - Awesome Lot!

Carpet, Combination Dining/Living, Combination Kitchen/Dining, Crown Moldings, Dining Area, Family Room Off Kitchen, Kitchen - Gourmet, Pantry, Recessed Lighting, Skylight(s), Walk-in Closet(s), Wood Floors, 1 Fireplace(s), Wood, Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer-Front Loading, Energy Efficient Appliances, Exhaust Fan, Oven/Range-Gas, Range Hood, Refrigerator, Stainless Steel Appliances, Washer- Front Loading, Washer/Dryer Stacked, Water Heater, Accessibility Features: None, Carbon Monoxide Detector(s), Motion Detectors, Smoke Detector, Door Features: French, Window Features: Energy Efficient, Screens, Skylights, Vinyl Clad, Basement Laundry, Lower Floor Laundry

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BRAND NEW HOMES by Lennar VA/DC/MD

BRAND NEW HOMES by Lennar VA/DC/MD

Quick Move-in Condominiums and Townhomes Available Now at Westview South!   Westview South features 3- and 4-level townhomes and townhome-style condos in Frederick, MD. Westview South is a walkable, urban community right around the corner from Westview Promenade, which features a host of retail and dining options, as well as a Regal Cinemas Movie Theatre and MOMs Organic Market. Lennar is offering new open floor plans with 2 to 5 bedrooms, gourmet kitchens with granite countertops and stainless steel appliances….

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The Solar Decathlon – A Global Event

The Solar Decathlon – A Global Event

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https___blogs-images.forbes.com_sherikoones_files_2019_03_PrefabWorld_90839_FirstLight_01-copy-1200x800

A global real estate event you should be aware of and a post curated from Forbes. Check it out soon.

Since 2011, events have also been held in Spain, China, and Colombia. Thousands of students from colleges around the world have designed and built houses to compete in the event, which is efficient at collecting and converting sunlight into usable energy. Since 2002, more than 160 collegiate teams have participated in the U.S. Department of Energy Solar Decathlon, organized by the National Renewable Energy Laboratory.

Source: The Solar Decathlon - A Global Event

https___blogs-images.forbes.com_sherikoones_files_2019_03_03256_4D_005-copy-1200x800
https___blogs-images.forbes.com_sherikoones_files_2019_03_03256_4D_005-copy-1200x800

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Sitting on Top of Belmont Bay Waterfront Home For Sale

Sitting on Top of Belmont Bay Waterfront Home For Sale

Come and see this recently updated waterfront home with best-in-class designs, high-end appliances, luxury finishes, new HVAC & roof. With close to 4,000 sf of finished space, this special home offers 4 bedrooms and 3.5 bathrooms, open kitchen, media, workout, steam & great rooms, fabulous master suite with office/den, granite wet bar & balconies, two car garage, fully finished workshop/Man Cave. Multiple balconies, bay windows, landscaped patios, and decks provide expansive water views and extensive entertainment options.

This is an exclusive opportunity to own one of the only 2 waterfront homes in Belmont Bay which have deeded waterfront property and a private, deep water dock. You don't want to miss this!

Source: Open House on Belmont Bay Waterfront Sunday March 17, 2019 2- 4 pm

LOOK AT OTHER WATERFRONT PROPERTIES IN DC, MD, VA.

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Park Place Without The Monopoly Board Park Place Price – Got to play this one!

Park Place Without The Monopoly Board Park Place Price – Got to play this one!

3220 Park Place NW, Washington, DC 20010 balcony with park views
3220 Park Place NW, Washington, DC 20010 balcony with park views
.3220 Park Place NW, Washington, DC 20010
Listed for $799,000
OPEN SATURDAY, MARCH 16TH 1:00-3:00 pm!

Completely renovated in 2016, this stunning four bedroom, three bathroom home has it all, including secure off-street parking for 2 cars! With over 1900  square feet of finished living space, enjoy hardwood floors throughout, beautiful exposed brick, recessed lighting, gorgeous granite counters, 2-zone HVAC system, and a spacious master bedroom suite with sitting area, and separate soaking tub and shower. The fully finished lower level is the perfect getaway for guests, with a private bedroom and bathroom, and a bonus recreation room. The open floor plan and multiple outdoor living spaces are perfect for entertaining. Only a short walk to the Petworth Metro, and a few steps to all of the restaurants on Georgia Avenue. Do not miss this one!

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Buying Your First Building for Your Housing Business

Buying Your First Building for Your Housing Business

Multi-Family Housing Inventory
Multi-Family Housing Inventory

Strategically, making a long-term investment in a building for your housing business is a very deliberating business decision. However, for new or growing housing business you can take advantages of the residential exceptions. For example: a buyer can purchase a multifamily property with 2 up to 4-units and still not be required to down pay 25% because the buyer will use 1 of the apartments as a primary residence.

On average the asking price for a multifamily property in the Washington, DC area is $625,000.00. You may find some less than that. However, you will surely find

1914 8Th Street NW, Washington, DC 20001 4-Units $1.7M
1914 8Th Street NW, Washington, DC 20001 4-Units $1.7M

more above that because the ownership in this area is more businesslike than owning 2 to 4 single-family houses that you rent out individually. I hope you can understand the differences as easy as I will try to explain:

  • 4 separate houses can be managed as 1 residence at 4 different addresses
  • A 4-residence property must be managed as a business open to the public
  • If it is 4-units, you will have 3 customers for your business. And,
  • If it is 2-units you will have only one customer. Which is not as demanding as a 4-unit property.

Here are some of the steps you will need to perform during the conduct of your business from shopping to day-to-day managing the business. Your F.O.C.U.S. Consultation will uncover these and more important considerations.

  1. Do perform a detailed and realistic evaluation of your projected cash flow or income resources. It is called projections because you are looking forward into the future from where you are financially. If you are relying of some sort stabilized compensation, see how much over your own personal living expenses you can afford to pledge to the undertaking. Most buyers who are still employed usually have a debt to income ratio of 41% for their living expenses and that's how they can afford to acquire a 2 to 4-units apartment building if they reside in one of the units.

    1603 A Street SE, Washington, DC 20003 4-units $2.150M
    1603 A Street SE, Washington, DC 20003 4-units $2.150M

    Take account of your projections to determine the area location you are affording. If you have the required down payment for the financing program you are using plus reserves for the closing costs, you are planning to own and operate your housing business for 10 to 30 years. Your ValueAddedRealtor can find the right building available at an affordable price for you. Don't look for Feng Shui unless you are prepared to pay a very Feng Shui price. The value of your newly acquired housing business asset will greatly depend upon how much value you can improve into it so that you can charge more rent and get more stable tenants. Owning the building for your housing business is better than leasing it from the owner and subleasing to tenants. The benefits of owning includes the sum total fixed costs you can budget and prepare for in advance. Using a master-lease for the asset is subject to ever-increasing triple net (NNN) costs in commercial properties while you are fully capable of buying residentially as your home. Another reason for buying a multifamily property is the income from tenants. Since you are already affording the mortgage note on your income alone, f you manage the business we you can draw down that 30-year mortgage in 10 years ultimately having a refinancing position to buy another property to increase your housing business assets. Moreover, real estate appreciates over time so it's not the amount of properties you can buy but the better you appreciate it.

  1. Get the help of your ValueAddedRealtor to locate the appropriate building you should buy for your housing business. Base your location on the density of the neighborhood, building operating cost and improvement needs. If you have experience in letting out real estate leases, your Realtor should guide you through

    5615 1ST Place NW, Washington, DC 20011 4-Units $1.5M
    5615 1ST Place NW, Washington, DC 20011 4-Units $1.5M

    the process and your ValueAddedRealtor can give you management tips so you can get off to a cool and smooth running. Look at the location objectively. If there are limited parking spacing for the area and your selected property has some parking, evaluate the public transportation situation to see if you will increase the rents when you are the owner. That is just an example of turning limes into lemonade. Get the best from your ValueAddedRealtor.

    Most home buyers just pay for a home inspector to look at their new purchase. Very few take advantage or the service. I urge you to attend even if it is just for information purposes because the seller warrants to make no repairs. Please take advantage of the professional inspection of the property. Ask how things are so you will have intimate knowledge of the building and how it operates. There are many rules-of-thumbs in construction these days but most likely the property was not built yesterday. Ask how things work because figuring them out with the inspector is a great way ensuring they are in good shape. The inspector won't be able to break open the walls to see what is behind but learning which of the 4 switches is for the lighting in the living room is very sensible. You will know what you can live with now while you plan substantial repairs and improvements.

  1. If you are still interested at this point, run down a detailed analysis of your financial projections to ensure your housing business plan is sound. Available funds after closing the acquisition should be enough reserves for paying the mortgage note for 6 months. Compute the costs of the mortgage payment, insurance and other expenses of operating the building against your present living expenses that would be included in the new note. Most utilities are the same for single-family house times the number of units in the property. So, you are not surprised after you purchase the property, do budget for a private garbage removal service. That is a gray area of concern like the water and sewer utilities. Most sellers are not declaring the expense in their disclosures. It may be applicable to the new owner as jurisdictions are requiring that more multi-family dwellings get private refuse haulers.

Those 3 steps should get you off and running in the growth direction. Do manage them well and deal with written leases with also subsequent written amendments. It is that simple. Landlords and tenants have created bigger courts than the criminal courts. When you are making progress onto another property, you may want to charter a limited liability company or a corporation to own the

1731 Riggs Place NW, Washington, DC 20009 3-Units $2.4M
1731 Riggs Place NW, Washington, DC 20009 3-Units $2.4M

properties. You can put the first property into the corporation/business entity so you can leverage financing for the subsequent properties. More advantages for that move include paying the overhead expenses for the business to the revenue of said business.

Never underestimate your #ValueAddedRealtor to help you shop for the best possible financing package for your building purchase. After you have established your business with your success with the first property, your business will get several perks. One of the perks is lowering the down-payment threshold for subsequent purchases. Mix the perks and business advantages together so you can propose development projects to your local Department of Housing and Community Development agency for tax credits, lower cost financing and development grants.

Building up housing business is the specialties for Rodwell Smith Complete the required facility inspections, obtain business insurance and close the deal. Move your company into the new building. If there is considerable extra office or floor space in the building you don't need, work with your real estate professional to lease out the remaining space. There are additional responsibilities involved in being a landlord, however the increased revenue from your housing business income can help you retire or expand your wealth more steadily than any other business..

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FINDING THE LENDER THAT’S RIGHT FOR YOU – Embrace Home Loan 100% no PMI

FINDING THE LENDER THAT’S RIGHT FOR YOU – Embrace Home Loan 100% no PMI

But with the right lender, you can help clear some of the biggest hurdles of homeownership – qualifying for a mortgage, meeting contingencies, and closing deadlines. Here are three key things to look for when finding the lender that’s right for you.

http://spacecoastdaily.com/2019/03/watch-embrace-home-loans-stephen-thaggard-looks-ahead-at-2019-forecast-in-brevard-for-home-loans/

LOOK FOR EXPERTISE

Look for a direct lender with a long history of financial stability, and a Loan Officer with extensive experience – two tall orders that Embrace Home Loans can fill.

LOOK FOR IN-HOUSE CAPABILITIES

Embrace’s in-house underwriting can review loans within 24-48 hours, and their Loan Officers offer local processing. That means you can reasonably expect a loan commitment in seven days or less.

And with Embrace’s automated updates, you’ll be informed every step of the way about your loan’s status. They’re also authorized to underwrite many of their Jumbo products, so closing in 30 days or less is still part of the culture.

LOOK FOR ARRAY OF PRODUCTS

There are many federal, state, and local programs available that can put homeownership within reach. Make sure you have access to all of them.

With Embrace’s portfolio of products, you can choose the ideal mortgage product based on your individual financial situation. Embrace also has exclusive programs that make the process easier.

 

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Early Spring Cleaning or Buying Another House? That is the question…

Early Spring Cleaning or Buying Another House? That is the question…

Come in we are open
Come in we are open

When you have gone through several years of cabin fever doldrums, you may feel lackadaisical this time around to start your spring cleaning regimen. Continue reading how this publisher got their spring cleaning started early. And for those of you who dread the thought of working up a sweat, realize that when you hydrate with some berry infused water garnished with fresh mint you will be spring cleaning your body also. Besides, these drinks are natural burst of energy. Enjoy the cleanse and cleaning!

Once I started, I definitely got carried away, which, I admit, is partly due to the fact that I had too much time on my hands. Because of this, I sadly did not get pictures of all the spots in my house that I’ve cleaned out and organized. The photos below are mainly just of my home office, laundry room, and closet.

Office:

My desk drawers were so disorganized and messy. Sometimes it is so easy to just toss things in a drawer and not look back, but over time these drawers became overwhelming with so much junk! So glad I got rid of some things and got them organized. I’m looking to get a new desk soon and this is definitely going to help

https://wp.me/p9zAdm-7h

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Unbelievable Price for the most customizable detached single-family houses today – 13504 Danielle Cir, Brandywine, MD 20613

Unbelievable Price for the most customizable detached single-family houses today – 13504 Danielle Cir, Brandywine, MD 20613

Register and Join in for redevelopment strategies for the most customizable detached single-family houses in your area. Fairfax County, Prince William County, Charles County, St. Mary, Howard, Prince Georges.

13504 Danielle Cir, Brandywine, MD 20613
13504 Danielle Cir, Brandywine, MD 20613

Big and Beautiful. Everything you could ask for. Over 6,000 finished square footage, Morning room in the rear. Sun room on the side. 2 story living room. Butler’s Pantry. Granite counters. Main floor office. Luxury owner’s suite with sitting area. Gorgeous Master bath. Finished basement with rec room, theatre room and full bath and still plenty of storage. All this on 5 acres of peace and tranquility. 3 car side-loading garages as well.

Approved Price as of January 4, 2016!!! Absolutely Fabulous Colonial in the gated community of Oak Creek! This 4-5 bedroom with 4.5 bath home features high ceilings, bright and spacious rooms, home office, magnificent fireplace, delightful deck, a pleasing patio with a 3-car garage and a whole lot more.

Palatial mansion in the desirable Federal Hill Farm community. Pull into the circular driveway and under the portico and you have arrived at a masterpiece in the making. This enormous house is an entertainer’s dream. Boasting 5 bedrooms, 5.5 baths, two 2-car garages.

You wont need to bring a contractor with RodwellBuildingServices and your F.O.C.U.S. Consultation vision to package this "renovation mortgage acquisition and renewal" house into the home of your dreams!!

Register and Join in for redevelopment strategies for the most customizable detached single-family houses in your area. Fairfax County, Prince William County, Charles County, St. Mary, Howard, Prince Georges. More counties to come. We will provide reconstruction estimates with Post Customization Renewed Appraisals (customized ARV).

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