Tips for Choosing a Realtor
February 20, 2012 by Katie Wethman · Leave a Comment
The Washington Post had a great article in this weekend’s Real Estate section called “Buying a Home? Here are a few tips.” In addition to addressing financial items like checking your credit score and getting a pre-qual letter from a reputable lender (not just any lender…a reputable lender), the author had a section on selecting [...]
Buyer’s Closing Costs
January 31, 2012 by wethmangroupadmin · Leave a Comment
Many buyers are aware that there are fees related to the purchase of a new home—a rough guide is 2.5% to 3% of the transaction value—but what are these fees, and are there ways to minimize them? First, a few clarifications. Both buyers and sellers have closing costs in a transaction. The sellers’ costs are [...]
Buying a Home in 2012?
January 16, 2012 by Katie Wethman · Leave a Comment
Is buying a home one of your 2012 goals? It can be a long process, but it doesn’t have to be complicated if you do a little prep work. Get started by attending a free, no obligation first time home buyer class at Arlington Central Library on February 29 at 7:00 pm. Our first time [...]
Tips for Couples Buying Their First Home Together
December 12, 2011 by Katie Wethman · Leave a Comment
Buying a home means starting a new phase of your life. It’s big, it can be scary, and it’s tough to make decisions. Add a second person into that mix and it can be overwhelming! Here are a few tips to get started if you and a significant other are buying your first home together: [...]
Washington, DC, Delinquencies and Shadow Inventory
December 5, 2011 by Katie Wethman · Leave a Comment
The Mortgage Banker’s Association reported that the seasonally adjusted delinquency rate for mortgage loans on one-to-four-unit residential properties fell to 7.99% in the third quarter of 2011, the lowest level recorded since the fourth quarter of 2008. While any decrease is good news, don’t get too excited just yet– it’s a decrease of just 45 [...]
Why are these condo fees so high?
March 7, 2011 by Katie Wethman · Leave a Comment
I’m often told by buyers “I won’t look at anything with high condo fees.” Often this can be a mistake. We need to look at what condo fees cover, and why some buildings may be higher (or lower) than others. What’s included in condo fees varies—sometimes widely—from building to building. First you need to be [...]
Cheaper to Buy Than Rent in DC Area
February 28, 2011 by Katie Wethman · Leave a Comment
According to Trulia’s first quarter 2011 index, it is officially cheaper to buy than rent in the DC area, along with 72 other large US cities. With rent averaging $2500-3000, and an average purchase price of $400-500k, the price to rent ratio is hovering around 14. According to Inman News: “A price-to-rent ratio of 1 [...]
Proposed Changes All Point to Higher Interest Rates to Come
February 14, 2011 by Katie Wethman · Leave a Comment
The DC area mortgage market is about to get hit with a double whammy. Last week, the Administration proposed lowering the “jumbo” loan limit from $729,750 in our area (one of the highest cost housing markets in the country) to $625,500. Technically, the $729k limit was ‘temporary’ but it had been extended several times and [...]
Do I Need a Buyer’s Agent?
January 10, 2011 by Katie Wethman · Leave a Comment
The Washington Post had a great article about how to figure out who represents you in a real estate transaction. The article appropriately warns of the danger of dual agency: “This arrangement may also be called “dual representation.” Both buyer and seller are represented by the same agent. Both parties must sign a form, prepared [...]
More Tips For Finding a Good Investment Property
January 3, 2011 by Katie Wethman · Leave a Comment
I’ve previously written about how to identify target neighborhoods for buying an investment property. Once you’ve done that, how do you find the actual property? Short Sales & Foreclosures are a great opportunity because you can be patient. (See my post on the challenges of timing a foreclosure transaction here and the frustrations of shorts [...]
