This is good news for Washington, DC's real estate -- and many close in neighborhoods including Arlington! Washington, DC ranks as the 7th most walkable city according to this poll. In 2005, Arlington was ranked #1 by America's Podiatrists -- and how can thousands of foot doctors be wrong?
http://realestate.msn.com/article.aspx?cp-documentid=21243431
Enjoy this gorgeous day and get out and walk your neighborhood!
Showing posts with label Washington DC. Show all posts
Showing posts with label Washington DC. Show all posts
Tuesday, September 15, 2009
Thursday, June 18, 2009
Looking for Something to Do in Our Nation's Capital? Check this out!
New in town or just looking for something new and different to do? Be in the know and find out what is going on in and around 'our town' this weekend -- or any time! This website is an exhaustive research of DC happenings - check it out!
http://www.culturecapital.com/
http://www.culturecapital.com/
Tuesday, June 2, 2009
Washington DC Market Makes Forbes 5 Best List
Lists are lists, but you have to love it when your market comes out on the 'best' list. We sure do.
We have definitely noticed an uptick in the market in 2009 to date -- in fact we have seen many multiple contracts, bidding 'wars', etc that harken back to the 'height of the market'. We wouldn't say we're going to see the huge increases in home values, but the inventory is drying up a bit - and that will make a more stable market for the remainder of 2009 and into 2010.
Read on...http://realestate.msn.com/article.aspx?cp-documentid=18080758
We have definitely noticed an uptick in the market in 2009 to date -- in fact we have seen many multiple contracts, bidding 'wars', etc that harken back to the 'height of the market'. We wouldn't say we're going to see the huge increases in home values, but the inventory is drying up a bit - and that will make a more stable market for the remainder of 2009 and into 2010.
Read on...http://realestate.msn.com/article.aspx?cp-documentid=18080758
Thursday, May 28, 2009
Changes to the Appriasal System - What does it mean?
Well, a lot. It means that appraisers are not fully informed of the properties status and the neighborhood -- and these folks are often being paid less and consumers are paying more. How hard would you work if your pay was cut significantly? It is true that you do get what you pay for.
Appraisals have always been a hot button issue, and we think that changes must be maid to make sure that the appraiser is giving a fair market value analysis. However, the 'new' system is often not providing good information and realiable, knowledgeable folks to appraise properties. Like any profession - there are great appraisers out there, and some not so great ones.
You be the judge - how would you change the appraisal system to guarantee a fair valuation but also providing necessary information on the status of a home? A tough question indeed.
*******************************************************
Washington Report: Appraisal System
by Kenneth R. Harney
Last week saw the official kickoff of Fannie Mae's and Freddie Mac's mandatory new system of appraisals nationwide, and some mortgage and appraisal groups are up in arms over sharply higher costs for consumers.
The so-called "home valuation code of conduct" imposed by Fannie and Freddie puts most appraisal assignments in the hands of management companies, some of whom are owned by major lenders such as Bank of America and Wells Fargo.
The Appraisal Institute, which represents 20,000 appraisers across the country, and the National Association of Realtors, which has thousands of appraiser members, both have been critical of the new code.
The Institute is particularly incensed at the expanded management company role in appraisals because those companies pay appraisers much less than their standard fees, and tack on thirty to fifty percent extra charged to the consumer.
For example, an appraiser who'd normally charge $325 for a valuation ordered though a lender or mortgage broker, now might be required by a management company to do the same work for $175 to $200.
Meanwhile the consumer, who has no idea where the money is going, is charged $400 or more for the appraisal, and must pay for it up front by credit card, rather than at closing.
The $200 to $225 extra goes to the management company. If the deal falls through and the mortgage doesn't close, that's the consumer's problem. The appraisal fee has already been pocketed by the management company.
Now evidence is circulating in Washington that not only are appraisal fees significantly higher under the new Fannie-Freddie code, but are being extended to FHA mortgages, despite the fact that FHA is not covered by the code.
The National Association of Mortgage Brokers has begun documenting the higher fees and other problems with the new code. In one case the association shared with Realty Times last week, a large lender, EverBank, circulated its list of new appraisal fees to be charged consumers through its "automated appraisal system."
Not only does the bank require credit payment for appraisals up front, but it now charges a flat $465 for FHA appraisals and $390 for standard single family conventional appraisals. Flat fees go up to $700 in Hawaii.
Roy de Loach, CEO of the brokers group, cited one member's experience -- where total appraisal fees for a routine FHA cash-out refi ballooned to $1,068 to the consumer.
Home buyers and realty professionals need to be aware of these sharply escalating fees -- and their controversial use on FHA loans that are supposed to be exempt from the Fannie-Freddie code.
Appraisals have always been a hot button issue, and we think that changes must be maid to make sure that the appraiser is giving a fair market value analysis. However, the 'new' system is often not providing good information and realiable, knowledgeable folks to appraise properties. Like any profession - there are great appraisers out there, and some not so great ones.
You be the judge - how would you change the appraisal system to guarantee a fair valuation but also providing necessary information on the status of a home? A tough question indeed.
*******************************************************
Washington Report: Appraisal System
by Kenneth R. Harney
Last week saw the official kickoff of Fannie Mae's and Freddie Mac's mandatory new system of appraisals nationwide, and some mortgage and appraisal groups are up in arms over sharply higher costs for consumers.
The so-called "home valuation code of conduct" imposed by Fannie and Freddie puts most appraisal assignments in the hands of management companies, some of whom are owned by major lenders such as Bank of America and Wells Fargo.
The Appraisal Institute, which represents 20,000 appraisers across the country, and the National Association of Realtors, which has thousands of appraiser members, both have been critical of the new code.
The Institute is particularly incensed at the expanded management company role in appraisals because those companies pay appraisers much less than their standard fees, and tack on thirty to fifty percent extra charged to the consumer.
For example, an appraiser who'd normally charge $325 for a valuation ordered though a lender or mortgage broker, now might be required by a management company to do the same work for $175 to $200.
Meanwhile the consumer, who has no idea where the money is going, is charged $400 or more for the appraisal, and must pay for it up front by credit card, rather than at closing.
The $200 to $225 extra goes to the management company. If the deal falls through and the mortgage doesn't close, that's the consumer's problem. The appraisal fee has already been pocketed by the management company.
Now evidence is circulating in Washington that not only are appraisal fees significantly higher under the new Fannie-Freddie code, but are being extended to FHA mortgages, despite the fact that FHA is not covered by the code.
The National Association of Mortgage Brokers has begun documenting the higher fees and other problems with the new code. In one case the association shared with Realty Times last week, a large lender, EverBank, circulated its list of new appraisal fees to be charged consumers through its "automated appraisal system."
Not only does the bank require credit payment for appraisals up front, but it now charges a flat $465 for FHA appraisals and $390 for standard single family conventional appraisals. Flat fees go up to $700 in Hawaii.
Roy de Loach, CEO of the brokers group, cited one member's experience -- where total appraisal fees for a routine FHA cash-out refi ballooned to $1,068 to the consumer.
Home buyers and realty professionals need to be aware of these sharply escalating fees -- and their controversial use on FHA loans that are supposed to be exempt from the Fannie-Freddie code.
Monday, May 11, 2009
What a way to travel!
"Houseswaps" are gaining in popularity - what a great way to see the world! We';re always looking for a vacation - anyone looking for a 4 BR, 3 1/2 ba home less than 5 miles from DC?
Summertime is just around the corner!
http://realestate.msn.com/article.aspx?cp-documentid=19562262
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