November 20, 2019

How Much Cash Do You Need to Buy a House?

In this post, we provide a brief outline of some of the up-front costs associated with buying a home. Here’s a rundown of the outlays. Earnest Money Deposit After making an offer and coming to an agreement with the home seller, a buyer is generally expected to pay 1 to 3 percent of the purchase price immediately. This earnest money deposit is held until the closing when it becomes part of the down payment. If the buyer backs out of the deal unexpectedly, the seller keeps the money. If the deal falls through due to a contingency that was previously […]
December 4, 2019

Red Flags Revealed During a Home Inspection

Home inspections are one of the more important aspects of the home buying process, and a thorough inspection may occasionally reveal problems that are severe enough to seriously concern a future owner. We wanted to run down a few potential inspection findings that should raise serious red flags. The following are a list of possible issues: Structural damage (usually determined by noting cracks in plaster, visibly shifted floors, doors, or windows; visibly shifted brick on the exterior, etc.) may require underpinning to the tune of $25,000-250,000 Water intrusion and grading problems (usually noted with visible water stains, visible presence or […]
December 13, 2019

The Biggest Changes Coming in 2020 Real Estate—and What Buyers and Sellers Need to Do

Ten years ago, many homeowners were desperately hoping to hang on to their homes. Others were doing everything they could just to scare up potential buyers. Meanwhile, said buyers were struggling to get financing from newly skittish lenders. Ah, memories. What a difference a decade makes! It has, in fact, been the most consequential stretch in American real estate history, one that has fundamentally altered the landscape. Cosmopolitan coastal cities are out; affordable midsize cities are in. Baby boomers and Gen Xers are no longer the dominant forces in buying, ceding that turf to millennials. Yet after all this time, […]
December 19, 2019

Tax Relief for DC Homeowners

When you buy a home in the District, you will have to pay property taxes along with your mortgage and homeowner’s insurance. As parts of DC quickly develop and housing values shoot up, property taxes may rise just as quickly, creating a greater monetary outlay than what new homeowners initially planned for. Luckily, DC has a few ways to lower the tax burden. All Owner-Occupants are Eligible for the Homestead Deduction Homeowners in DC can file an application with the Office of Tax and Revenue for a Homestead Deduction. The primary benefit of the deduction is to bring down the […]
May 19, 2021

Urban Areas Still Appeal to Homebuyers

For more than a year, analysts have understood that the pandemic-related telework trend is shaking up the housing industry. Still, they have had to dig deeper to understand the ways those changes are impacting home-location preferences and to predict the potential permanence of such changes. Despite the rollout of vaccines and loosened social-distancing recommendations, remote work is here to stay for many Americans, and that will continue to impact the housing market, experts say.  A U.S.-based survey of 5,000 working adults found that four in ten workers expect to have some form of continued remote work flexibility post-pandemic, says Chris […]
May 24, 2022

What to Know About Rental Payment Reporting Services and Your Credit Score

Military families rent homes more than they buy, thanks to a PCS cycle fixed on two to three-year moves. In recent years, the DOD has recognized the challenges connected to short-term duty stations and batted around ideas to keep families in one place for longer, but in general, the status quo remains, which means military families continue to rent homes.  There are many great things about renting a house, but one of the downsides is that your monthly payments aren’t reported to the big three credit reporting bureaus: TransUnion, Equifax, and Experian. So, your dependable rent payments haven’t positively impact […]