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REAL ESTATE
Cost of condos in region remains above national median
The median sales price of condominiums and co-operative apartments across the Washington region during the second quarter of 2024 was slightly higher than the national figure, but the year-over-year rate of growth trailed somewhat. The median sales price for condominiums in the Washington area for the April-May-June period was $375,700,...
Just Listed in Alexandria: August 16, 2024
Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates REALTORS®. Jen Walker here with The Jen Walker Team! We have been recently lauded with the #1 Real Estate...
Most and least expensive townhouses sold in Alexandria (July 2024)
Here in Alexandria, real estate is a spectator sport. Let’s take a look at some of the most and least expensive townhouses sold last month (July 2024). 616 S Lee St — Old Town — $1,998,900 (4 beds | 3.5 baths | 3,010 sq. ft.) 211 Wilkes...
Bright MLS Weekly Market Report
New contracts tick up. Throughout the Bright MLS service area, there were 6,049 new purchase contracts this week, a 3.7% increase from the same week a year ago. Mortgage rates hit their lowers level in more than a year, and that drop in mortgage rates may be bringing some buyers off the sidelines.
CBRE Arranges New 7K-SF Office Lease in DC Trophy Property
In a transaction arranged by CBRE, Allsteel, a leading manufacturer of workplace furnishings and architectural products, has committed to a 7,282-square-foot office lease at Hines’ 1050 17th Street, a Trophy boutique office building in Washington, DC. Allsteel will occupy prime office space on the second floor of the building.
Year-to-date home sales off slightly in local region
January-through-July home sales across the Washington region were helped by strong mid-summer activity but remained below the same period in 2023, according to new data. A total of 29,377 properties changed hands during the first seven months of 2024, according to figures reported Aug. 12 by Bright MLS, the region’s multiple-listing service. That’s down 1.4 percent from 29,804 sales during the same period in 2023.
DC Ranks as One of the Top Metros for New Apartment Construction
The U.S. will set a record for new apartment deliveries for the third year in a row, with developers on track to complete more than 518,000 new rental units in 2024, according to a recent report by RentCafe. 2024 is the first year in the history of U.S. apartment construction in which the number of completions will surpass the 500,000-unit threshold, with the D.C. region among top metros with a steady pipeline of new apartments coming to market.
TD Bank mortgage review 2024
The Yahoo view: TD Bank offers a wide range of mortgage products for all types of borrowers and financial goals, and it has better rates and fees than many competitors. However, its 15-state footprint makes it an option for only a small segment of borrowers. TD Bank is a regional...
Median home-sales prices up 6% year-over-year in region
The median sales price for single-family homes across the Washington region rose 6 percent to $666,600, making it one of nearly 90 percent of metro markets across the nation to see year-over-year growth in the second quarter. Figures were reported by the National Association of Realtors (NAR). “The record-high home...
CFPB Takes Action to Stop Contract-for-Deed Investors from Setting Borrowers Up to Fail
CFPB affirms that contracts for deed must comply with longstanding federal mortgage protections. WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today released an advisory opinion and research report on a form of home seller financing that is often referred to as contract for deed. Under contract-for-deed deals, the seller agrees to turn over a home’s deed only after the buyer completes a series of payments. The deals often have little oversight, and investment groups and other sellers can set a series of traps that leave buyers in unlivable homes, on the hook for tax liens and expensive repairs, and at risk of losing their down payments and homes. The advisory opinion affirms that federal home lending rules and laws cover contracts for deed and provide key consumer protections. The report describes how predatory lenders use contracts for deed to target low-income borrowers, particularly in religious communities, and set them up to fail so the sellers can kick them out and repeat the process with a new family.
Real Estate Fresh Finds: August 14, 2024
Real Estate Fresh Finds is a weekly selection of newly listed properties in the District, brought to you by RLAH Real Estate. “Welcome to your new home in the vibrant heart of Mount Pleasant! This stunning 1-bedroom, 1-bathroom corner unit is the perfect blend of comfort and convenience, offering an inviting entryway that leads into a bright and airy living space, thanks to an abundance of windows that bathe the unit in natural light. Ideal for hosting friends, the open layout makes entertaining a breeze. You’ll love the modern conveniences, including an in-unit washer and dryer, which add a touch of luxury to your everyday life. Step outside and enjoy breathtaking views of the Washington Monument and National Cathedral from the building’s amazing rooftop terrace. The perfect spot to unwind or impress guests! This prime location is a walker’s paradise, with easy access to some of the city’s best coffee shops, taco spots, restaurants, parks, and the scenic Rock Creek trails. Commuting is a breeze with the Green/Yellow Metro lines and multiple bus routes just steps away. And don’t forget to take advantage of the lively farmers market that sets up right outside your door every Saturday and Sunday. This is more than just a condo — it’s a lifestyle. Don’t miss the opportunity to make this Mount Pleasant gem your new home!”
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