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 [...]
Congress Considers Bill to Speed Short Sale Requests
September 23, 2010 by Katie Wethman · 1 Comment
HUGE news in the world of short sales…the House is considering a bill that would force lenders to approve or deny a short sale request within 45 days. As anyone who has dealt with a short sale knows, lenders commonly take 6 to 8 months to respond to a short sale request, frustrating buyers who [...]
This Month in Real Estate: Foreclosures Down as Short Sales Become Viable Options
June 18, 2010 by Katie Wethman · Leave a Comment
April stats for foreclosures are out, and they show a 2% decrease form April of 2009, possibly due to more sellers being aware of short sales as a viable option, and more buyers recognizing that short sales may pose a good buying opportunity. Short sales are still long, frustrating processes for all parties involved, but [...]
Short Sale Statistics for Northern Virginia
August 18, 2009 by Katie Wethman · 2 Comments
I got to wondering today whether more short sales are closing and thought I would share some interesting data I found. All data is per MRIS as of today. Number of active listings designated “potential” short sales in NoVA* = 607 (# in Arlington = 57) Number of short sales that have closed in NoVA [...]
State of the DC Area Real Estate Market: June 2009
June 13, 2009 by Katie Wethman · Leave a Comment
The Spring market is hopping, but some recent changes are making it difficult to predict what’s around the corner. Here’s what’s going on in the local real estate world: Interest Rates Jump: Mortgage rates took a significant jump in the past few weeks. The short story is that optimism about the economy combined with fears [...]
Foreclosure Risks
February 1, 2009 by Katie Wethman · Leave a Comment
Now that Spring is right around the corner, buyer activity is picking up. There are still plenty of foreclosures on the market, and though there are lots of incentives to buy right now (low interest rates, first time home buyer credits through July 1, and low prices), the risks with buying a foreclosure — as [...]
Buyers May Not WANT Condo Docs for Short Sales & Foreclosures
December 1, 2008 by Katie Wethman · 4 Comments
I was quoted in the Washington Post yesterday for my recommended strategy of NOT asking for condo docs on a foreclosure or short sale. In the original article here, the author discusses the fact that: Virginia law requires sellers or their real estate agents to get a presale financial disclosure packet from the association and [...]
Finding an Investment Property in Northern Virginia
November 26, 2008 by Katie Wethman · Leave a Comment
As prices plummet, some solid investment opportunities are starting to emerge…but how do you identify good investment properties? Step 1: Identify some target neighborhoods. – The first thing to do is to consider long term (e.g., 10 years) appreciation potential. Think about area employment (and more importantly where those employers are—commuting time is a big [...]
Guest Post: Rehabbing Properties Using the FHA 203K Program
November 3, 2008 by Katie Wethman · 1 Comment
Thanks, Cindy Fox of SunTrust, for information on this program which can really help buyers who have found their diamond in the rough! You can find Cindy’s contact information at the bottom of this post. Looking for a bargain in the real estate market? Have you seen the perfect place for you and maybe your [...]
Buying an Investment Property in Northern Virginia
October 17, 2008 by Katie Wethman · Leave a Comment
The Washington Posts’ Express paper had a special Home Buyer’s Guide this past Wednesday, and I was honored to be asked for my thoughts on buying investment properties. During my conversation with the author, I noted that prices inside the Beltway–areas that are optimal for finding renters–have not dropped to the extent people may think, [...]
