You are currently browsing the Ethical Homes archives for the 'News & Commentary' category.
As part of the most recent Omnibus tax bill, Congress quietly approved making buyer-paid PMI tax-deductible.
Read the rest of this entry »
Freddie Mac has confirmed that they will be keeping 2007 single-family-home conforming loan limits at their 2006 values. Read the rest of this entry »
Ethical Homes is proud to announce its new affiliation with Keller Williams Realty. Read the rest of this entry »
A lot of people have been emailing me recently to ask my opinion of the new VantageScore credit scoring system; the short answer is that it isn’t much of an improvement over the current system, and what little benefit it does offer will almost definitely not become widespread because the system provides no incentive to lenders to use it. Read the rest of this entry »
Quantico Marine Base is giving away 58 houses to anyone who will take them. Read the rest of this entry »
Recent data from the US Census Bureau indicates that Americans are moving from metropolitan areas to more rural areas. Read the rest of this entry »
In an effort to become more competitive, FHA has made some significant changes to the rules governing loans that they underwrite.
The latest news on real estate in the metro DC area. Read the rest of this entry »
The latest news on real estate in the metro DC area. Read the rest of this entry »
The volume of real estate news available on the web has been increasing over the last year, as has the number of clients I’ve been helping to buy and sell homes, and the number of consumers contacting me to request information about things other than local real estate news; as a result, I’ve found myself without the time to adequately respond to every article out there that I want to let consumers know about. Read the rest of this entry »
Following up on our last article on how homeowners may want to refinance their ARMs to lock in a fixed rate, Money/CNN has an interesting article giving some specific numbers as examples of how looming rate adjustments might affect a homeowner’s bottom line. Read the rest of this entry »
The short-term indices that determine the rates charged to holders of ARMs have been rising steadily for a while now, and long-term rates have finally started to rise as well; as a result, many homeowners who used ARMs to purchase their homes should at least consider refinancing their loans as fixed-rate mortgages to lock in the still-relatively-low rates before they vanish. Read the rest of this entry »
A recent article in the Washington Post echoes comments that I’ve been making for quite a while on the positive opportunities to be found in Anacostia. Read the rest of this entry »
Every November, Fannie Mae and Freddie Mac adjust the limits on loans that they will purchase on the secondary loan market, which in turn set the limits for the “conforming loans” (with the lowest rates) that lenders offer to home buyers. This year, many lenders are increasing their conforming loan limit in advance of Fannie & Freddie’s adjustment. Read the rest of this entry »
Every September, the National Association of Realtors makes an effort to remind Realtors of their responsibilities under RESPA, so there’s a certain irony in that month also being when a Coldwell Banker affiliate in Atlanta was hit with a quarter-million-dollar settlement for illegally encouraging their agents to steer clients to a particular settlement company. Read the rest of this entry »
Come join us on Friday, Sept. 16th, at the Capitol Hill office of PCR for a wine and cheese reception for local artist Nancy McNamara’s exhibit “Notes From My Garden”. Read the rest of this entry »
A new study from the D. C. Fiscal Policy Institute confirms what anecdotal evidence has been indicating: the recent housing boom in DC has created a serious shortage of affordable housing in the city. Read the rest of this entry »
Many websites have cropped up in the last week to allow people from around the country to offer temporary housing to hurricane evacuees. Now a new website aggregates the data from all of the other sites, making it much easier for those evacuees to find housing. Read the rest of this entry »
I’ve been trying to call you this morning as we discussed yesterday, but I keep getting a message that all circuits are busy. If you happen to check this webpage, please give me a call at 703-244-7112, or use this form to send me your email address or an alternate phone number to use to reach you, so we can get started on finding you housing here in the DC area.
Following in the footsteps of regulators such as the FDIC, which have urged banks and lenders to waive late fees and foreign ATM fees for people affected by Hurricane Katrina, Freddie Mac has taken the unprecedented step of asking that mortgage lenders send back the September mortgage payments of those affected by the hurricane. Read the rest of this entry »
Residents of the Eastern US can now finally check their credit reports for free. Read the rest of this entry »
The Post discusses how, after discovering widespread violations of building codes in at Clarksburg Town Center, Montgomery County has suspended any new construction projects in that have not yet broken ground, to make sure that all pending projects do comply with the codes. Read the rest of this entry »
Since 2002, the DC Main Street program has been working to revitalize older, traditional business districts in DC. Read the rest of this entry »
Re-consider the bus. Read the rest of this entry »
A lot of people have been asking me recently about this article in The Economist, which goes to great lengths to imply (but never say outright) that there is a global housing bubble, and that a worldwide housing crash is imminent.
The short version of my answer: I can’t think of a more intellectually dishonest article that I’ve read in ages. Read the rest of this entry »
Some people will go to great lengths to have a party, even if it means ignoring five years and making a tenuous connection between barns and architecture. Read the rest of this entry »
On Thursday, July 21, the NBM will welcome Executive Director and Co-founder of Architecture For Humanity Cameron Sinclair. Read the rest of this entry »
Sometimes, being in the top school district isn’t necessarily the best choice for a family with children. Read the rest of this entry »
A few people have asked me recently what I think of the recent Supreme Court decision in Kelo v. New London. The short version of my opinion is that I think the Supremes got things mostly right in this case; I’ve recently been involved in a more involved discussion of this topic on another website, so those wanting more details about my views can check there. (Those wanting still more details about my views can feel free to ask, as I can gladly discuss these sorts of topics for hours.)
NAR’s new headquarters building is certified LEED Silver. Read the rest of this entry »
Although the DC metro area doesn’t get as much sun as other parts of the country and electricity prices are on the low side of the national average, folks are still putting up solar panels for a number of reasons. Read the rest of this entry »
Freddie Mac is telling its servicing companies to give returning members of the armed forces a break for 90 days. Read the rest of this entry »
It’s looking more and more certain that the HOPE VI program will be dismantled by the current administration. Read the rest of this entry »
I’m glad to learn that I’m not the only one to see the housing potential in clear plastic tubes
Slowly but surely, the public is figuring out something that should have been obvious to them: in most financial transactions, there are very few people involved in the transaction who share the same interests. Read the rest of this entry »
Local-interest website DCist gives an update on continuing plans for the Southeast Federal Center area along the Anacostia river. Read the rest of this entry »
Support the RPJ Housing Development Corporation’s Affordable Housing & Volunteer Home Repair Programs by joining Monte Carlo 2005. Read the rest of this entry »
The Alexandria City Council recently approved a number of changes to their Moderate Income Homeownership Assistance Program (which for some reason they abbreviate MIHP rather than MIHAP). Read the rest of this entry »
This is one of the better overviews of the current national real estate market that I’ve seen in a while—it’s pretty balanced, and offers some good advice and explains the reasoning behind it.
An article from Kenneth Harney in the Washington Post discusses recent statistics showing that buyers in highly inflated markets are less likely to fall behind on payments than the average buyer. Read the rest of this entry »
A recent item in the WSJ attempts to summarize the main options available to people looking to sell their home, but in the process reveals some fundamental misunderstandings about how home sales work. Read the rest of this entry »
Fannie Mae has announced that it will start buying 40-year loans from banks; Read the rest of this entry »
Yet another article in the Washington Post about assessments, this one discussing the ins and outs of appealing your assessment in VA, MD, and DC.
Rising assessments are all the rage among real estate journalists right now, it seems. Read the rest of this entry »
Yet another study on potential bubbles in real estate markets identifies 27 locales that meet bubble criteria, and as has consistently been the case for the last few years, the DC market isn’t among the ones at risk.
Happy New Year! Daniela Deane of the Post kicks off 2005 with a good survey of the predictions that various economists and industry experts have made about how the housing market will behave in the coming year; for those who don’t want to read all of the quotes (and who haven’t been reading my notes here for the last few months), the short version is: expect between 8% and 12% growth in property values in 2005.
Having spent the last 24 hours making sure that family, friends, and clients
in South Asia were safe after the devastating tsunamis that struck on Sunday, I’m reminded of the fact that the Metro DC area has many areas that are
designated by FEMA as being Special Flood Hazard Areas. SFHAs only mean that there is a 1%
chance of flooding per year in those regions, so there’s no need for panic,
but homeowners in the area might want to plug their home address into the
FEMA Flood
Plain map finder to see what
their home falls under, and contact their insurance agent to make sure that
they have adequate flood
insurance.
(Even if you aren’t in a high-risk zone, it’s usually
worth it to purchase flood insurance; the premiums for low-risk areas are
often as low as $100 per year, and as the National Flood Insurance Guide
notes, 25% of flood insurance claims actually come from non-high-risk areas.
Remember, the point of insurance for homeowners is to protect them against
catastrophic losses; a flood can render your entire home worthless, and
$100/year is a small price to pay to protect yourself against that
possibility.)
Confirming the results of recent studies by both NAR and George Mason University, a report from the Urban Land Institute and PricewaterhouseCoopers concludes that the Metro Washington DC area is one of the top four areas in the US to invest money in real estate; though prices in the local market are high, all signs do point to their continuing to rise for the forseeable future.
Realty Times describes a clever intersection of securities markets with real estate investing that, once the SEC signs on and the various kinks are worked out, will probably revolutionize the risk analysis for whether or not to sell properties whose market values have appreciated greatly (such as most properties in the Metro DC area): “depreciation insurance”. It’ll probably be mid-to-late 2005 before these developments really have an impact on the market; I’ll keep my eye on things and update you as soon as I learn anything more.
Prudential Carruthers Realtors® is part of the PCR Home Services family, which also includes mortgage, settlement, home inspection and other services for home buyers and sellers. In an attempt to encourage people to use more of the PCR Home Services services, Prudential Carruthers Realtors® is offering two incentive programs for home buyers—a closing cost credit of between $1000 and $10,000 for buyers using a PCR agent who also obtain a PCR mortgage, and a free home warranty for buyers who use PCR for both their mortgage and their settlement company. I don’t recommend using affiliated services of companies just for their discounts, but one of the mortgage brokers that I recommend that my clients use is a PCR mortgage broker, and most offices of PCR’s settlement company are also quite good, so for those buyers who might already be considering using either or both of those companies, it might be worth it to explore further. If you’re
interested, ask me for details.
The Wall Street Journal notes that Fannie Mae and Freddie Mac have raised the limits on conforming loans from $333,700 to $359,650; the difference in interest rates for buyers whose new loans will now count as conforming works out to around a $40 per month savings.
The Denver Post has some helpful info on questions to ask when buying new construction.
New DC regulations require that landlords of residential
rental property that take in more than $2000 in annual net revenue
(but not commercial landlords or commercial property owners) obtain a DC
Basic Business License. If you own a residential rental property in DC,
you can use the DC Department of Consumer and Regulatory Affairs’
alt="external logo" title="Link opens in new window">
to determine if you need to obtain a license.
The Washington Post reports that
current boom in housing has given a boost to the local job market; since
local economists view job growth as one of the prime factors (along with low
interest rates) in the growth of the DC area housing market, the
construction-inspired job growth will probably further help elevate the
housing market that created it.
The Wall Street Journal has a nice article summarizing
some of the main factors to be evaluated when decided whether to buy or rent. It’s worth noting, however, that that article addresses markets in general, and so its assessment of the downside risks that make the returns on purchasing potentially less appealing than those for renting/saving don’t apply fully to the DC market; all evidence currently points to the DC market having a shortage that will keep prices high for at least the next decade, making medium-term investment less risky here than it is in the nation as a whole. (The article hints at this when it notes that DC has had the highest sustained appreciation of any metro area over the last 5 years (94%).)
Jennifer Lisle has a pair of recent articles in the Wall
Street Journal that discuss some of the concerns involved in a company-required group relocation, and tips on how to deal with such a move, including advice from consultants from Prudential Relocation.
An article in the WSJ discusses the pros and cons of
renting properties to people using Housing Choice (formerly Section 8)
Vouchers, concluding that such renters are unfairly stigmatized. (I have
always been an advocate of renting to Housing Choice/Section 8 tenants so
long as they are screened just as diligently as other tenants; landlords are
guaranteed to have on-time rent payments, which in most cases is more than
worth the extra paperwork involved.)
The Washington Post has a very good overview of the basics of “staging” a home for sale.
Although the Senate’s version of the tax bill that was recently enacted contained a tax code amendment that would have made mortgage insurance tax deductible, it appears that the final version does not contain that amendment. The same bill also makes it more difficult for investors to take a deduction on the sale of a residence that was acquired as part of a Starker Exchange. (Interestingly, the first article as distributed by the Washington Post Writer’s Group to other papers included discussion of the Starker/1031 changes, but the version that the Post itself printed (linked to above) doesn’t include the 1031 info. The second URL gives a lot more detail to interested investors anyway, though.)
The Washington Times has a useful article on lease-purchase agreements, which I have long been advocating as an effective (if rare) way for buyers with low cash reserves or poor credit to purchase homes. If you are an investor interested in finding a good blend between income generation and asset appreciation, contact us to find out about how a lease-purchase might be the right way to sell your home.
I occasionally get asked by clients what
the political makeup of a particular neighborhood is. The
Human Rights Act of 1977 makes political affiliation a
protected class and thus prevents real estate agents from
answering that type of question, and even when I’m working in Virginia
I usually just point out that if a person is concerned about
their neighbors, it’s usually best to just go around and meet the
neighbors rather than trying to generalize about them. Thanks to the
Washington Post, however, concerned buyers can now see for themselves
which parts of the Metro DC area lean Democratic or Republican.
The Washington Post has a surprisingly pointless article asserting that, anecdotally, the market is slowing down—and then pointing out in passing that the actual statistics show no such slowdown. This is the kind of bad journalism that may hurt consumers, who will alter their selling/buying decisions as a result of relying on (invalid) anecdotal information.
Until you can buy the house of your dreams, the Washington Post has some good advice on how to at least improve the organization of your kitchen.
DC has reinstated its first-time homeowner tax credit for people earning under $90,000 annually ($130,000 for couples filing jointly).
The Post has a pair of articles discussing the growth of new construction of luxury condos in NoVA, and the effect that investors have had on those new condo developments.
Alexandria market analysis group Delta Associates releases a report cited in an article in the Post indicating that rental properties in NoVA and DC are becoming even better values, while those in MD are expected to be less profitable.
The City of Alexandria warns residents not to fall for a recent "delinquent tax" scam sent to Alexandria homeowners.
The Post continues its series on how people are being
pushed further out of the Metro DC area with an article on people who commute in from West Virginia.
The Washington Post kicks off a series of articles about
how people are being forced to live further and further away from the Metro DC area, with a look at how local jurisdictions are simultaneously encouraging businesses to expand while limiting the local housing available to those businesses’ employees.
An interesting article on things to consider when choosing a real estate agent.
I’ve been getting a lot of questions recently from buyers about how shopping around for loans affects their credit score; I’m putting together an article on the topic of choosing a lender that will address this question, but in the interim, you can read Fair Isaacs’ official stance on the topic.
Rising interests rates prompted a spike in home sales
in June preceding a probable cooling of the market, according to
by the National Association of Realtors.
The Washington post agrees with what I’ve
been saying for a while now—namely, that
Anacostia Waterfront is going to be the center of DC’s next major
expansion. People with a moderate tolerance for risk and a
longer-term investment vision should start looking at that area
seriously.
Recognizing that many public service staff (police, teachers, health care workers) cannot afford to live in the areas that they serve, Fannie Mae and Bank of America have announced a plan to provide low-downpayment, flexible-credit mortgage plans for those workers.
The Office of Federal Housing Enterprise Oversight’s quarterly price index for 2004Q1 showed
home prices, which is a good sign that the market’s inevitable
stabilization might be starting. (In the DC Metropolitan Statistical
Area, the quarterly growth rate was +1.67%, which is much lower than
the +5.74% growth for 2003Q4, but not that much lower than the +1.81%
growth for 2003Q1.)
Katherine Salant has an nice introduction to the concept of “building green” in the Washington Post; in a market like the Metro DC one, it’s far less useful than would be a nice overview of retrofitting existing buildings to be green, but it’s still informative. (If you’re interested in green retrofitting, drop me a line; I’ve been gathering recommendations for companies in the area that do that type of work, and would be glad to put you in touch with them.)
Visionary DC real estate developer Douglas Jemal announces that his next major development will be in Buzzard Point in Southwest Washington DC; given Jemal’s history of identifying areas of rapid growth well before they take off, real estate investors may want to look at that area of Anacostia for potential bargains.
The Washington Post briefly discusses HUD’s
announcement of how they will distribute funds for a new federal subsidy
for low-income home buyers.
Washington Post article: despite rising interest rates,
demand for new homes continues to rise.
The Washington Post notes that Loudoun is the fastest-growing county in the nation for the period from 2000-2003
In a disturbing housing trend, renters are being blacklisted for winning cases in Housing Court, according to the New York Times.
———
TITLE: Loudoun is fastest-growing county in the nation
AUTHOR: Sweth Chandramouli
DATE: 04/09/2004 00:01:00
CATEGORY: News
——
BODY:
The Washington Post notes that Loudoun is the fastest-growing county in the nation for the period from 2000-2003
———
TITLE: Demand for new homes continues to rise
AUTHOR: Sweth Chandramouli
DATE: 05/19/2004 00:01:00
CATEGORY: News
——
BODY:
Washington Post article: despite rising interest rates,
demand for new homes continues to rise.
———
TITLE: OFHEO quarterly price index
AUTHOR: Sweth Chandramouli
DATE: 06/21/2004 19:30:21
CATEGORY: News
——
BODY:
The Office of Federal Housing Enterprise Oversight’s quarterly price index for 2004Q1 showed
home prices, which is a good sign that the market’s inevitable
stabilization might be starting. (In the DC Metropolitan Statistical
Area, the quarterly growth rate was +1.67%, which is much lower than
the +5.74% growth for 2003Q4, but not that much lower than the +1.81%
growth for 2003Q1.)
———
TITLE: New HUD subsidies for low-income buyers
AUTHOR: Sweth Chandramouli
DATE: 06/03/2004 19:49:11
CATEGORY: News
——
BODY:
The Washington Post briefly discusses HUD’s
announcement of how they will distribute funds for a new federal subsidy
for low-income home buyers.
———
TITLE: Douglas Jemal targets Buzzard Point
AUTHOR: Sweth Chandramouli
DATE: 06/05/2004 17:54:01
CATEGORY: News
——
BODY:
Visionary DC real estate developer Douglas Jemal announces that his next major development will be in Buzzard Point in Southwest Washington DC; given Jemal’s history of identifying areas of rapid growth well before they take off, real estate investors may want to look at that area of Anacostia for potential bargains.
———
TITLE: Building Green
AUTHOR: Sweth Chandramouli
DATE: 06/05/2004 18:02:57
CATEGORY: News
——
BODY:
Katherine Salant has an nice introduction to the concept of “building green” in the Washington Post; in a market like the Metro DC one, it’s far less useful than would be a nice overview of retrofitting existing buildings to be green, but it’s still informative. (If you’re interested in green retrofitting, drop me a line; I’ve been gathering recommendations for companies in the area that do that type of work, and would be glad to put you in touch with them.)
———
TITLE: More on the Anacostia Waterfront
AUTHOR: Sweth Chandramouli
DATE: 07/12/2004 09:22:32
CATEGORY: News
——
BODY:
The Washington post agrees with what I’ve
been saying for a while now—namely, that
Anacostia Waterfront is going to be the center of DC’s next major
expansion. People with a moderate tolerance for risk and a
longer-term investment vision should start looking at that area
seriously.
———
TITLE: Home sales spike in June
AUTHOR: Sweth Chandramouli
DATE: 07/26/2004 12:36:17
CATEGORY: News
——
BODY:
Rising interests rates prompted a spike in home sales
in June preceding a probable cooling of the market, according to
by the National Association of Realtors.
———
TITLE: How shopping for loans affects your credit
AUTHOR: Sweth Chandramouli
DATE: 07/26/2004 21:02:37
CATEGORY: News
——
BODY:
I’ve been getting a lot of questions recently from buyers
about
how shopping around for loans affects their credit score; I’m putting
together an article on the topic of choosing a lender that will address
this question, but in the interim, you can read
official stance on the topic.
———
TITLE: New mortgage plans for police, teachers, health care workers
AUTHOR: Sweth Chandramouli
DATE: 07/09/2004 14:03:06
CATEGORY: News
——
BODY:
Recognizing that many public service staff (police, teachers, health care workers) cannot afford to live in the areas that they serve, Fannie Mae and Bank of America have announced a plan to provide low-downpayment, flexible-credit mortgage plans for those workers.
———
TITLE: Suburban Metro DC now extends to W. Va.
AUTHOR: Sweth Chandramouli
DATE: 08/09/2004 14:52:42
CATEGORY: News
——
BODY:
The Post continues its series on how people are being
pushed further out of the Metro DC area with an article on people who commute in from West Virginia.
———
TITLE: Things to consider when choosing an agent
AUTHOR: Sweth Chandramouli
DATE: 08/07/2004 15:58:18
CATEGORY: News
——
BODY:
An interesting article on things to consider when choosing a real estate agent.
———
TITLE: More on the expanding scope of Metro DC
AUTHOR: Sweth Chandramouli
DATE: 08/08/2004 14:54:33
CATEGORY: News
——
BODY:
The Washington Post kicks off a series of articles about
how people are being forced to live further and further away from the Metro DC area, with a look at how local jurisdictions are simultaneously encouraging businesses to expand while limiting the local housing available to those businesses’ employees.
———
TITLE: Delinquent Tax scam in Alexandria VA
AUTHOR: Sweth Chandramouli
DATE: 09/13/2004 16:56:56
CATEGORY: News
——
BODY:
The City of Alexandria warns residents not to fall for a recent "delinquent tax" scam sent to Alexandria homeowners.
———
TITLE: Effect of recent tax changes on homeowners and investors
AUTHOR: Sweth Chandramouli
DATE: 10/29/2004 22:09:43
CATEGORY: News
——
BODY:
Although the Senate’s version of the tax bill that was recently enacted contained a tax code amendment that would have made mortgage insurance tax deductible, it appears that the final version does not contain that amendment. The same bill also makes it more difficult for investors to take a deduction on the sale of a residence that was acquired as part of a Starker Exchange. (Interestingly, the first article as distributed by the Washington Post Writer’s Group to other papers included discussion of the Starker/1031 changes, but the version that the Post itself printed (linked to above) doesn’t include the 1031 info. The second URL gives a lot more detail to interested investors anyway, though.)
———
TITLE: Staging homes
AUTHOR: Sweth Chandramouli
DATE: 10/29/2004 22:19:36
CATEGORY: News
——
BODY:
The Washington Post has a very good overview of the basics of “staging” a home for sale.
———
TITLE: DC First-time homeowner credit reinstated
AUTHOR: Sweth Chandramouli
DATE: 10/10/2004 11:34:29
CATEGORY: News
——
BODY:
DC has reinstated its first-time homeowner tax credit for people earning under $90,000 annually ($130,000 for couples filing jointly).
———
TITLE: Political makeup of local neighborhoods
AUTHOR: Sweth Chandramouli
DATE: 10/17/2004 20:27:37
CATEGORY: News
——
BODY:
I occasionally get asked by clients what
the political makeup of a particular neighborhood is. The
Human Rights Act of 1977 makes political affiliation a
protected class and thus prevents real estate agents from
answering that type of question, and even when I’m working in Virginia
I usually just point out that if a person is concerned about
their neighbors, it’s usually best to just go around and meet the
neighbors rather than trying to generalize about them. Thanks to the
Washington Post, however, concerned buyers can now see for themselves
which parts of the Metro DC area lean Democratic or Republican.
———
TITLE: Organizing your kitchen
AUTHOR: Sweth Chandramouli
DATE: 10/14/2004 16:17:21
CATEGORY: News
——
BODY:
Until you can buy the house of your dreams, the Washington Post has some good advice on how to at least improve the organization of your kitchen.
———
TITLE: Bad RE Journalism.
AUTHOR: Sweth Chandramouli
DATE: 10/15/2004 20:27:30
CATEGORY: News
——
BODY:
The Washington Post has a surprisingly pointless article asserting that, anecdotally, the market is slowing down—and then pointing out in passing that the actual statistics show no such slowdown. This is the kind of bad journalism that may hurt consumers, who will alter their selling/buying decisions as a result of relying on (invalid) anecdotal information.
———
TITLE: Analysis of local rental markets
AUTHOR: Sweth Chandramouli
DATE: 10/03/2004 11:14:35
CATEGORY: News
——
BODY:
Alexandria market analysis group Delta Associates releases a report cited in an article in the Post indicating that rental properties in NoVA and DC are becoming even better values, while those in MD are expected to be less profitable.
———
TITLE: Changing condo market in NoVA
AUTHOR: Sweth Chandramouli
DATE: 10/03/2004 11:18:52
CATEGORY: News
——
BODY:
The Post has a pair of articles discussing the growth of new construction of luxury condos in NoVA, and the effect that investors have had on those new condo developments.
———
TITLE: Lease-purchase agreements
AUTHOR: Sweth Chandramouli
DATE: 10/29/2004 11:01:29
CATEGORY: News
——
BODY:
The Washington Times has a useful article on lease-purchase agreements, which I have long been advocating as an effective (if rare) way for buyers with low cash reserves or poor credit to purchase homes. If you are an investor interested in finding a good blend between income generation and asset appreciation, contact us to find out about how a lease-purchase might be the right way to sell your home.
———
TITLE: New requirements for residential landlords in DC
AUTHOR: Sweth Chandramouli
DATE: 11/26/2004 09:49:23
CATEGORY: News
——
BODY:
New DC regulations require that landlords of residential
rental property that take in more than $2000 in annual net revenue
(but not commercial landlords or commercial property owners) obtain a DC
Basic Business License. If you own a residential rental property in DC,
you can use the DC Department of Consumer and Regulatory Affairs’
alt="external logo" title="Link opens in new window">
to determine if you need to obtain a license.
———
TITLE: Article on Housing Choice Vouchers
AUTHOR: Sweth Chandramouli
DATE: 11/01/2004 10:43:25
CATEGORY: News
——
BODY:
An article in the WSJ discusses the pros and cons of
renting properties to people using Housing Choice (formerly Section 8)
Vouchers, concluding that such renters are unfairly stigmatized. (I have
always been an advocate of renting to Housing Choice/Section 8 tenants so
long as they are screened just as diligently as other tenants; landlords are
guaranteed to have on-time rent payments, which in most cases is more than
worth the extra paperwork involved.)
———
TITLE: Article on whether to buy or rent
AUTHOR: Sweth Chandramouli
DATE: 11/15/2004 20:43:08
CATEGORY: News
——
BODY:
The Wall Street Journal has a nice article summarizing
some of the main factors to be evaluated when decided whether to buy or rent. It’s worth noting, however, that that article addresses markets in general, and so its assessment of the downside risks that make the returns on purchasing potentially less appealing than those for renting/saving don’t apply fully to the DC market; all evidence currently points to the DC market having a shortage that will keep prices high for at least the next decade, making medium-term investment less risky here than it is in the nation as a whole. (The article hints at this when it notes that DC has had the highest sustained appreciation of any metro area over the last 5 years (94%).)
———
TITLE: Housing Boom = Job Growth = Housing Boom
AUTHOR: Sweth Chandramouli
DATE: 11/15/2004 20:59:02
CATEGORY: News
——
BODY:
The Washington Post reports that
current boom in housing has given a boost to the local job market; since
local economists view job growth as one of the prime factors (along with low
interest rates) in the growth of the DC area housing market, the
construction-inspired job growth will probably further help elevate the
housing market that created it.
———
TITLE: Article on Relocating
AUTHOR: Sweth Chandramouli
DATE: 11/03/2004 10:04:15
CATEGORY: News
——
BODY:
Jennifer Lisle has a pair of recent articles in the Wall
Street Journal that discuss some of the concerns involved in a company-required group relocation, and tips on how to deal with such a move, including advice from consultants from Prudential Relocation.
———
TITLE: New offer from Prudential Carruthers Realtors
AUTHOR: Sweth Chandramouli
DATE: 12/18/2004 23:29:04
CATEGORY: News
——
BODY:
Prudential Carruthers Realtors is part of the
PCR Home Services family, which also includes mortgage, settlement,
home inspection and other services for home buyers and sellers.
In an attempt to encourage people to use more of the PCR Home
Services services, Prudential Carruthers Realtors is offering
href="http://prudentialcarruthers.com/homebuyer_rewards.shtml">two
incentive programs for home buyers
title="Link opens in new window">—a closing cost credit of
between $1000 and $10,000 for buyers using a PCR agent who also obtain
a PCR mortgage, and a free home warranty for buyers who use PCR for both
their mortgage and their settlement company. I don’t recommend using
affiliated services of companies just for their discounts, but one of
the mortgage brokers that I recommend that my clients use is a PCR mortgage
broker, and most offices of PCR’s settlement company are also quite good,
so for those buyers who might already be considering using
