DC Realtors About Washington DC Real Estate By The McConkey Real Estate Team
DEJA VU! We first discussed the proposed FHA changes way back in June 2016, but the Federal Housing Administration did not finalize the rule changes until August 2019. The new rules will make a FHA mortgage loan available to many…
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A blitz by homeowners and Realtors fought off a surprise attack by the DC Council on homeowners. On May 13th, Councilman Grosso proposed a new tax in the District on expensive homes. The new tax would have raised the residential…
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The Federal Home Loans Administration (FHA) recently made an important change to its approval process that that has received little notice. Starting mid-March 2019, FHA will now give greater scrutiny to applicants with credit scores less than 620, or with…
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The DC Council unanimously passed a law in November to limit home-sharing, banning investment properties and limiting the rental of primary residences. Home-sharing is the short term rental (usually less than 30 days), of a room, basement or entire house,…
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The percentage of Adjustable Rate Mortgages (ARMs) closed in December reached 9.2 percent in December, the highest on record for Ellie Mae’s Origination Insight Report, which has been revealing data since 2011. This is up from 8.9 percent a month…
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The government shutdown is starting more and more to impact real estate. Not just because our community is so tied to the government workforce, and job insecurity is causing delays in rentals and purchases, but also because so many finance…
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We’ve had a victory. The DC Council, which is not the friendliest for property owners and landlords, passed on December 20th the “First-Time Homebuyer Benefit Amendment Act.” The Act is to help home affordability by helping first-time homebuyers to buy…
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We were treated to GREAT NEWS in May. In a speech to the National Association of Realtors, Housing and Urban Development Secretary Julián Castro said the Federal Housing Administration (FHA) has completed its promised reforms of condominium mortgage rules and…
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Despite vigorous lobbying efforts by many community groups including Realtors through the Greater Capital Area Association Of Realtors (GCAAR), the County Council approved a drastic increase in the Montgomery County real estate taxes, both property taxes and recordation fees. This…
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If you own a rental property in the District you are supposed to obtain a DC business license. Whether it is a single family home, an apartment building, a condominium, or just a basement apartment, you are required to have…
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