Blog
DOGE Effect on the DC Housing Market
The Optimistic Realist For the past few years, we’ve all experienced the impact of high mortgage rates on our local housing market. Each year, analysts came out with an optimistic view—rates would improve, and transaction volume would follow. Only, it didn’t happen. To the surprise of many, rates remained elevated, but that didn’t stop housing…
Read MoreUnderstanding The Mortgage Interest Tax Deduction
The One (and Only) Benefit of High Mortgage Rates! As mortgage rates remain high, many homeowners feel the pinch of larger monthly payments. But there’s a silver lining that too few fully appreciate: the potential tax savings from the mortgage interest deduction. When purchasing a home, one usually starts with preparing a budget to determine…
Read MoreMaster Your Housing Budget
Plan Smart, Live Comfortably: Setting Your Home-Buying Budget Buying a home is an exciting journey filled with dreams and aspirations. It’s a personal milestone that often comes with a mix of emotions, from exhilaration to anxiety. In the thrill of hunting for that perfect place, it’s easy to let your heart lead the way.…
Read MoreIs “Date The Rate” Dead or Just Delayed?
This time last year, Realtors and Lenders went on a social media tour singing the latest hit song, “Marry the House, Date the Rate,” while pitching seller closing incentives and 2-1 Buydowns. Inventory spiked, prices dropped, and seller credits were becoming a thing. Mortgage rates began taking a toll on homebuyer affordability, and many believed…
Read MoreFirst-Time Home Buyer Programs in D.C.
As home prices rise, it becomes increasingly more difficult for First Time Home Buyers to purchase a new home. Higher prices lead to more money needed for a down payment! According to market statistics from GCAAR, the median home price in June 2024 was $710,525 in DC. At that price, a buyer would need approximately…
Read MoreA Rational Look at Rate Cuts and Home Prices
By now, you have probably seen headlines like this, “The Federal Reserve will cut interest rates six times in 2024” Then, as you scroll through Instagram or TikTok, you are flooded with real estate marketing posts saying, “BUY NOW before prices surge as low rates unleash a wave of buyers.” Should you believe the hype? …
Read MoreD.C. Transfer Tax Reduction Program for First-Time Home Buyers
It’s no secret the high cost of real estate in Washington, D.C. makes it very difficult for most First-Time Home Buyers to purchase a home. When buying a home, you not only need to figure out a way to make a down payment, but you also must pay closing costs. For most properties in DC,…
Read MoreIs it Time to Refinance? Read this First.
• Always make sure your refinance lines up with your long-term goals • Never pay for closing costs When was the last time you checked on your investments? If you’re like me, you herd your money like Blue Heeler cattle dog, and change course the moment something doesn’t perform to your expectations. So why is…
Read MoreTo Debt or Not to Debt: Which Makes Sense for You?
Which is better for you: Being completely debt-free, or having some debt and owning a home? Most people would probably prefer to be debt-free. But that’s a very difficult hurdle to overcome. Some will spend years clearing student loan debt, credit cards, or car loans. That’s an enormous financial burden — but not necessarily for…
Read MoreConfused About Rates? You’re Not Alone.
When my daughters ask me what I do all day, my answer is simple: I talk about rates. “But Daddy,” they ask, “isn’t that boring?” The answer is absolutely not. Rates are never, ever boring, especially when you’re looking for a loan. But a loan rate is probably the most confusing topic to talk about, particularly when…
Read More