Monday, March 23, 2020 / by John Murdock
The federal government is telling lenders to lower or suspend mortgage payments for up to 12 months for homeowners who have lost income due to the coronavirus outbreak.
Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, they should be eligible to have their mortgage payments reduced or suspended for up to 12 months.
Federal regulators, through the mortgage giants Fannie Mae and Freddie Mac, are ordering lenders to offer homeowners flexibility. The move covers about half of all home loans in the U.S. — those guaranteed by Fannie and Freddie. But regulators expect that the entire mortgage industry will quickly adopt a similar policy.
Under the plan, people who have suffered a loss of income can qualify to make reduced payments or be granted a complete pause in payments.
"That forbearance is up to 12 months, depending on their particular situation," says Mark Calabria, direc ...
Friday, November 24, 2017 / by John Murdock -- CityScape Metro Group
Sure, the District might be part of the Mid-Atlantic region, but it feels more like the North Pole during the holidays thanks to the National Christmas Tree, countless holiday markets, one-of-a-kind seasonal light displays, Christmas-themed bars and lots more. Here are some of the best, can't-miss ways to experience the holidays in Washington, DC.
1Cross visiting the National Christmas Tree off your bucket list
The National Christmas Tree is DC’s claim to fame during the holidays, and for good reason. The gorgeous conifer lives in President’s Park on the White House Ellipse, where it's surrounded by trees decorated with handmade ornaments from 56 U.S. states and territories and is accompanied by nightly musical performances throughout the holiday season. The display is free to visit and open from 10 a.m. – 10 p.m. while the National Christmas Tree is lit each day from 4:30-10 p.m.
2ZooLights t ...
Tuesday, November 14, 2017 / by Brittini Martinez
For the past few years, sellers have had all the power in the local real estate market. Today’s buyers and sellers are accustomed to a market marked by rapidly increasing prices, low inventory, fast offers and bidding wars. But real estate is cyclical and a perpetual seller’s market can’t last forever.
In terms of supply and demand, it’s still very much a seller’s market. But we’re seeing some small signals that the market may be shifting back — just a little — toward buyers.
First, let’s analyze the regional data. Across the Washington area, the number of homes for sale has fallen year over year for 18 months straight. The region had about 2.6 months of supply in September, well below the six months that represents a market balanced between buyers and sellers. Homes are still moving quickly, with the typical property finding a buyer in 27 days, six days faster than last September.
Economics tells us that fewer homes for sal ...
Monday, November 13, 2017 / by Brittini Martinez
When buyers see your townhouse for sale, they might not be aware of everything they're buying into. For starters, townhouse owners typically enjoy the benefit of having more freedom over making changes to their domain than, say, condo owners or apartment renters. Townhome communities can also win out in terms of the common facilities—like a shared pool or gym—that they offer. So it makes sense that townhouses have recently become the latest "it" property.
Therefore, if you're planning on selling your townhouse, you should be privy to the best ways to market it, the timeline you might have to follow, and what needs to happen after you accept an offer.
What is a townhouse?
A townhouse is a single-family dwelling with at least two floors as opposed to condominiums that are typically designed like single-level apartments. Townhouses usually share a wall with another house, but unlike a duplex, each townhouse is ...
Monday, November 13, 2017 / by Brittini Martinez
When you go through the process of buying a house, you might have to change the real estate closing date. It's actually fairly common for the buyer or the seller to request this kind of adjustment, so don't be alarmed if it happens to you. Let's take a closer look at the closing process and why someone would want to reschedule a closing date in the first place.
What is closing on a home?
Closing represents the scheduled day, after a seller accepts a buyer's offer, when the parties meet and sign the final paperwork. The whole process from accepted offer to closing typically takes an average of 50 days. During that time, attorneys draw up contracts, and dozens of other parties—from title agents to mortgage lenders—finish completing the transfer of a property.
Why change a real estate closing date?
But sometimes the buyer or seller wants to speed up or slow down the process, and that requires changing the clo ...