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Our top picks for real estate news for the week of March 20th

Our top picks for real estate news for the week of March 20th

Happy first day of Spring! The warmth and flowers will come, we promise. The National Cherry Blossom Festival has kicked off and runs until April 12th – plan your day with the blossoms as soon as possible! We all know how the crowds will flood in. Two news items go hand-in-hand this week. First, 89% of US homes ended 2014 with equity, and second, the US foreclosure level is the lowest since July 2006.  The reason for this great news is that home prices have risen 5.8% since February 2012, and if home prices rise another 5% then more than a million homes still underwater will be back in positive equity. Fantastic news all around for the spring season! Adding to home affordability, Freddie Mac has lowered their down payment requirement on home purchases. Starting next week buyers can put 3% down on a purchase, plus there is now no limit on the amount of gift funds that can be provided to a purchaser. The lower down payment is a great encouragement to first-time homebuyers but can also be accessed by move-up buyers too—this is an amazing extension of buying power. Confused about the mortgage preapproval process? Read up on it with Urban Turf below. Less money down means more money for making your new house truly “yours” – check out the article on new and improved flooring options below to whet your improvements whistle. Finally, don’t miss the Washington 50 Bucket List?   Share your score on our Facebook page and prove how big a Washingtonian you are: https://www.facebook.com/pages/The-Linda-Low-Team/   NEWS 1. The National Cherry Blossom Festival http://www.nationalcherryblossomfestival.org/...

Our Top Real Estate News Picks – week of March 9th, 2015

Hello Clients & Friends – Could it be that Spring is finally springing?  With an extra hour of daylight at the end of the day, it’s starting to feel that way, mud notwithstanding.  As we edge out of winter, the spring real estate market is starting to really rev up.  Here is a list of our favorite articles of the week with national and local real estate news, plus some of the local activities in and around DC for the weekend. Enjoy the weekend, and a preemptive Happy St. Patrick’s Day to you! NEWS BELOW: 2015 Home Improvements – Cost vs Value report February DC Metro market activity Bidding wars are still hanging around Spring real estate markets heating up Insurance 101 for first-time homebuyers Home builders say spring smells rosy Millenials on the Homeownership Path Weekend Events 2015 Cost vs Value Report This site compares average cost for 36 popular remodeling projects with the value those projects retain at resale in 102 U.S. markets. Check out this year’s trends and how they compare to prior years. http://www.remodeling.hw.net/cost-vs-value/2015/   DC Metro contract activity increases for fourth consecutive month The Washington DC Metro housing market enjoyed a strong February, with year-over-year (Y-O-Y) increases in sales, prices, new contracts, inventories and median days-on-market compared to February 2014. Closed sales increased by almost 1% from February 2014, while prices rose by 4%, new contracts rose by 7.7%, with all categories experiencing a rise, inventories rose 16.6%, and median days-on-market (DOM) rose by 50%. The median price for single-family detached and townhomes each rose $10,000 to $470,000 and $385,000 respectively, while condos increased by $3,000...