I Got My Condo Docs – Now What??
March 14, 2011 by Katie Wethman · Leave a Comment
In Virginia, buyers of condominiums and properties within a homeowner’s association have a three (calendar) day review period to review the “resale package” or “condo docs” following a ratified contract. In the District buyers have three business days. (Typically these are not available in advance because associations charge a fee, and most sellers are reluctant [...]
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 [...]
Proposed Elimination of Fannie, Freddie May Boost Interest Rates; FHA Insurance Premium Set to Increase
February 21, 2011 by Katie Wethman · Leave a Comment
The administration has released a white paper saying it intends to wind down Fannie Mae and Freddie Mac and severely cut back FHA’s role in mortgage funding. Though the plan could take up to seven years to execute, it would mean a dramatically privatized mortgage market and very likely higher rates. The report offers three [...]
Why Are Condos at the Jefferson in Ballston So Cheap?
November 13, 2009 by Katie Wethman · Leave a Comment
Two words: Retirement Community. The Jefferson is a Sunrise Senior Living Community. It consists of two high-rise condominium towers within a block of the Ballston Commons Mall and Ballston metro, and as such they get plenty of hits from buyers looking for affordable options along the Orange Line in North Arlington. So why are these [...]
Update: Housing Bill Credits for First Time Buyers
July 18, 2008 by Katie Wethman · 2 Comments
Congress continues to work on resolving conflicting versions of the housing bill first discussed back in April. Word is that they’re close to a deal. Here’s the latest scuttlebutt as to what is planned (remember, though, that this is NOT YET FINAL): – The credit (yes, that’s a CREDIT, which is much more valuable than [...]
Co-ops: The Surprising Numbers
April 15, 2007 by Katie Wethman · 2 Comments
I’ve posted here before that I am not a big fan of co-ops, and that’s still true. HOWEVER, I do want to share some data that surprised me, and after I have a chance to do a little more digging, I may reverse my position after all. I have a client who is very interested [...]
Condos versus Co-ops
March 7, 2007 by Katie Wethman · 1 Comment
For my first discussion, I want to talk a little bit about co-ops vs. condos. Co-ops are a very ,misunderstood piece of the real estate market. The basic difference is this: Co-ops are corporations in which you buy shares, in exchange for which you are given the right to occupy a unit. Condos are units [...]
