Real Estate Agent Broker or Realtor – you may work with one of these professionals when buying or selling a home. Though all of these real estate pros are licensed to help you buy, sell, or rent a home, they are distinct from one another, especially when it comes to their qualifications and which rung of the professional ladder they occupy. What is the difference between these agents? Which should you choose to protect your interests?
Here are seven questions to understand ARMS which you should ask your lender. If you’re shopping for a mortgage, you need to decide whether to choose one with a fixed or adjustable interest rate. Last year ajustable rate mortgages only accounted for 4% of mortgages in the US, but now they are as much as 10% of mortgages – a real reflection of the higher interest rates. Clearly, lots of buyers think the ARM Is a good option for home purchases in this market.
An association can block owners from renting – Sometimes. Some homeowners’ associatons and co-op and condo boards have the authority to restrict owners from renting their property. Depending on the rules and regulations, when the homeowners’ association, coop and condo boards forbid owners from renting their units, owners may have no choice but to sell, even in a difficult market.
What is a $500000 starter home in the DC metro area? According to a front page article in the New York Times on September 25, 2022, a starter home in Denver Co in the 1990s was a two level house with three bedrooms and 1400 square feet or less. In the 1990s that starter home sold for $90,000 to $125,000. Now that home will cost approximately $500,000.
That made me wonder….. What do you get in the DC metro area for $500,000? Of course, in the DC metro area, there are lots of choices. Do you look in DC (trendy or trending)? Do you look in Montgomery County? How far out do you go into the suburbs? Do you look in Prince Georges County or perhaps you go to Northern Virginia?
For purposes of this search, I used the criteria that defined a starter home in Denver in the 1990s – a two level home with three bedrooms and less than 1400 square feet for no more than $500,000. Then I looked at the criteria without price restrictions to see what kind of house you can get with the same criteria but in a central location.
Which properties are September’s most expensive DC Metro Homes? Face it – everyone is curious about the most expensive homes in the DC area. Even if your budget is considerably less than $30 million, or even $5 million, it is still fun to look at the luxury homes for sale. The DC metro area has thousands of homes in Maryland, Virginia and of course, Washington, DC, but only one is the most expensive in each jurisdiction. September’s collection of the most expensive homes in the DC metro area include a stunning white contemporary overooking Battery Kemble Park, a romantic Italian palazzo in Darnestown MD, and a French provincial home to be built on ten acres that belonged to George Washington.
Here is a peak at September 2022’s most expensive homes in each area.
After a long two years, people wonder has the market shifted in favor of buyers? – at least in the DC area. All during COVID, finding a home has been challenging as bidding wars pushed offerss well over the asking price. It’s been hard for buyers but every market eventually rights itself and then swings in the other direction. Now, it appears that in certain areas, the market pendulum might slowly but surely be swinging back in a buyer’s market direction. It is not a buyer’s market yet, but the momentum has shifted.
In order to discern a shift, however small, from a seller’s to a buyer’s market in your area, let’s first take a look at what defines those buying/selling environments.
This is the time to buy your new home! If you are thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and lots more. It’s hard to decide to jump into the market, but this is the time to buy your new home. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale. Just remember, the best time to buy a home is when you want one or when you need one!