If you are planning on buying a home in the next few months, I bet you are already spending plenty of time checking out online listings. Listen up: That’s not where all your attention should be. Right now, the most important planning step you can make is to check your FICO credit score and make sure your finances are in the best possible shape.
With a few months to go before you start your house hunt in earnest,
The HomeReady® Mortgage Plus Program is a smart and affordable alternative to an FHA, or conventional loan, because it requires no Private Mortgage Insurance (PMI). Other lenders may offer similar programs, but they usually require mortgage insurance or lender-paid mortgage insurance, » Read more about: A Case for a Conventional Loan Alternative »
Yesterday, a bill that will exempt renters of single-family homes from the Tenant Opportunity to Purchase Act (TOPA) moved forward in the DC Council, setting it up for passage next month. Today, UrbanTurf is clarifying what exactly constitutes a “single-family home” under this bill.
As the bill is written, all “single-family accommodations” would be exempted from the tenant’s right of first refusal. This includes:
For those of you who own your home, it’s likely your largest investment/asset.
That’s why I am so concerned that many of you may not be sufficiently protecting your home. According to data CoreLogic provided cnbc.com, about one in four homeowners has an insurance policy that would cover less than 80% of the value of rebuilding the home.
Being underinsured at all is crazy enough. But what you need to understand is that once your policy drops below 80% of the rebuild value,
The redevelopment of the Wharf, led by PN Hoffman and Madison Marquette on behalf of the city’s Office of the Deputy Mayor of Planning and Economic Development, is one of the largest neighborhood-creation endeavors in DC — and the first phase is nearly complete.
Once the second phase of development concludes in 2021-2022, the 27 acres bound by the Washington Channel on the southwest and Maine Avenue to the northeast, between 6th and 11th Streets SW (map) will be practically unrecognizable to those who are long-time patrons of the country’s oldest continuously-operating fish market, » Read more about: Southwest Waterfront Grand Opening – October 12th! »
If you didn’t spend the weekend working on your taxes, chances are you are feverishly trying to finish them today. With that in mind, here are five tax breaks that homeowners can take advantage of.
1. Mortgage Interest Deduction — The mortgage interest deduction is not only the most popular real estate tax break, but one of the more straightforward. In short, 100 percent of the interest that you pay on your home loan in a given year is tax deductible.
In 2016, home prices rose in a number of DC neighborhoods. As the year comes to a close, UrbanTurf dug into the neighborhoods where median sales prices rose the most between the first eleven months of 2015 and the same period this year. We omitted neighborhoods with very low sales volume.
Here are the top 6:
6. Shepherd Park
Shepherd Park is a DC neighborhood just to the east of 16th Street and north of Brightwood that has become popular with young families over the last fifteen years. » Read more about: The DC Neighborhoods with the Best Home Price Appreciation in 2016 »
If you haven’t heard by now I wanted to let you know loan amounts will be increasing for conventional and government financing effective Jan 1, 2017. As a standard Conventional and Government loan the new loan amounts will be as follows:
As a Jumbo (or High Balance) Conventional and Government loan the new loan amounts will be: