DC Realtors About Washington DC Real Estate By The McConkey Real Estate Team
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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2015 DC Real Estate Sales Annual sales reach the highest level since 2006; Prices gain only 1 percent for second straight year, but remain 24 percent higher than 2009’s bottom levels. OVERVIEW 2015’s median sales price ended up at…
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A new law was passed by the DC Council and signed into law by Mayor Gray to protect DC tenants by requiring landlords to furnish “prospective tenants” with a summary of laws pertaining to the rental of housing in the…
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