NBC washington Blog: Foreclosure Rates Rise in D.C., NoVA

Metro Area Foreclosures Rise:

Foreclosure rates in the District and northern Virginia rose slightly over the last year. Though foreclosure rates in D.C., Arlington and Alexandria fall below the national average, rates in each municipality rose a fraction of a percentage point.

The foreclosure rates in the District of Columbia rose from 1.56 to 1.85 percent between June 2009 and June 2010. Over the same period, foreclosure rates in the broader region -- including D.C., Arlington and Alexandria -- rose just slightly, from 2.15 to 2.16 percent. Click HERE for full Article

Are Energy Star Certifications on Appliances Legitimate?

U.S. agencies try to restore faith in Energy Star appliance testing

By Sonja Ryst
Washington Post Staff Writer
Saturday, July 10, 2010

When you buy something with an Energy Star label on it, are you getting ripped off for trying to be green?
The Environmental Protection Agency and Department of Energy have been fighting to end such worries in recent months. They are taking steps to reassure consumers that the blue and white stamp really means what it says, namely that the product is highly energy-efficient, and they are revamping the way they certify products that bear the label.
This comes after the Government Accountability Office flayed the Energy Star certification process because manufacturers could exploit it. GAO investigators said in March that they set up Web sites, mailboxes and cellphones for four bogus manufacturing companies and then used that contact information on Energy Star commitment forms. The bogus companies received Energy Star partnership status within two weeks. When the GAO investigators filled out forms describing 20 bogus products, 15 qualified for Energy Star labels, including a gas-powered clock radio and a feather duster attached to a space heater.
Click Here for Full Article

Washington Business Journal Reports: Refinances are up?

Wednesday, July 7, 2010, 12:19pm EDT  |  Modified: Wednesday, July 7, 2010, 2:45pm

Mortgage refinancing jumps to highest in a year

 Washington Business Journal - by Jeff Clabaugh

The number of applications to refinance an existing mortgage jumped to the highest level in more than a year last week, even as home sales slow, according to the D.C.-based Mortgage Bankers Association.
The trade group’s weekly report says overall mortgage applications rose 6.7 percent last week. Applications for purchases fell 2 percent from the previous week, while applications for refinancing rose 9.2 percent. Refinance applications reached the highest level since May 15, 2009, the Mortgage Bankers Association said.

Read more: Mortgage refinancing jumps to highest in a year - Washington Business Journal

New York Times Reports: Banks Requiring More Extensive Verification of Income

Verifying Borrowers’ Finances

MORTGAGE brokers and lenders will often caution borrowers against charging up their credit cards or changing jobs before the closing date on a home loan. Now that advice seems especially prudent.
On June 1, Fannie Mae, the government-sponsored company that establishes the underwriting standards for most of the nation’s mortgages, started requiring lenders to recheck a borrower’s finances shortly before closing the loan. If a broker or lender finds significant changes, the loan could be delayed, or in some cases, denied. Click Here for full article

Wall Street Journal Reports: Green, Pre-fab Homes

Prefab Houses Go Green

 SmartMoney Magazine by Alyssa Abkowitz (Author Archive) 

On a remote home-building site outside the small town of Charlestown, R.I., Tom Dieterich is up on a roof, ducking beneath a massive slab of wood and steel that hangs from a crane. The craggy-faced crew foreman from Blu Homes has been riding his workers hard to finish this house, since they’re already so close: The bamboo floors are down, the foam-insulated walls are up, even the energy-efficient kitchen appliances have been installed. Now, with dusk approaching, Dieterich is anxious to fix the final segment of the roof into place. After all, he and his crew—and one of our reporters—are putting up the house in a single day.

Read more: Prefab Houses Go Green - Personal Finance - Real Estate - SmartMoney.com http://www.smartmoney.com/personal-finance/real-estate/prefab-houses-go-green/#ixzz0oxSz3HNW

Should you refinance?

MSNBC  Real Estate offers advice to homeowners considering refinancing
Click here for video report
 If you are considering refinancing your home, here are a list of lenders we use frequently and reccomend to all of our clients, give them a call and ask any questions you may have about refinancing:

Joseph Nalls

CHEVY CHASE BANK

phone: 240 497 8060

fax: 240 497 8099

mobile: 301 529 8611

email: jpnalls@chevychasebank.net

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Deb Levy   (her assistant is Lisa bennett)
Vice President / Mortgage Loan Officer
Bank of America Home Loans
202.416.2898 office
866.574.4817 fax
301.332.7758 mobile
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Michael Murray
First Savings BankMortgage Loan Officer
240-223-1630 Phone
301-346-9660 Cell
703-564-7014 Fax
mmurray@firstsavings.com

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Chad E. Van Zandt
PROSPERITY MORTGAGE CO.
4733 Bethesda Avenue Suite 100 Bethesda, MD 20814
240-497-1716 Direct
301-523-4686 Portable
301-654-4259 Private Fax
Chad.E.VanZandt@WellsFargo.com

Partner: Karen Van Zandt 240-497-1772
Assistant: Brad Katzen 240-497-6154

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Mike Fegan
George Mason Mortgage, LLC
6550 Rock Spring Drive Suite 655
Bethesda, MD 20817
Office - 301.841.1310
Mobile - 301.325.0717
Fax - 703.890.1859
www.gmmllc.com/mfegan

Brand New Listing in Rock Creek Forest! First Open Sunday 5/16

Check out Barbara's New Listing:

2702 Colston Drive, Chevy Chase Maryland, 20815

MC7338390

List Price:  $710,000

 First open  Sunday 5/16- 2pm-5pm

Click Here For HD virtual Tour

Washington Business Journal Reports: DC housing prices up

Tuesday, May 11, 2010, 10:49am EDT

D.C.-area housing prices up 4.7%

Washington Business Journal - by Jeff Clabaugh

The latest read on Washington-area housing prices shows strong year-over-year gains, according to the National Association of Realtors.
Its quarterly report says the median price of a single-family home in the Washington region in the first quarter was $292,600, up 4.7 percent from a year ago.

Read more: D.C.-area housing prices up 4.7% - Washington Business Journal:

Click here for full story

FHA to require tighter regulations for mortgage brokers

Mortgage Insurer Turns to Lenders to Police Brokers 
 The Federal Housing Administration, the government agency that insures a bigger and bigger portion of home loans, plans to rely more heavily on lenders to police mortgage brokers.The changes will put more of the onus on lenders to make sure there is no fraud or faulty underwriting in the loans they fund, and less on the FHA. The lenders could be held liable for losses if a loan insured by the FHA goes bad and there are signs of fraud or mistakes in the underwriting.
Wall Street Journal Reports:  Click Here for full article

How much home can you get for $450,000?

Property Values

What You Get for ...$450,000

New York Times monthly feature on how much home you can afford for $450k in three different locations around the country:  Click here for full story

Bang for your buck! HGTV on maximizing return on renovation investments

Watch episodes online of HGTV's helpful show "Bang For Your Buck"

When considering renovations, a professional opinion is always helpful on what will get the most retrun on your investment!  this HGTV show offers suggestions on all kinds of renovation projects and demonstrates exactly what kind of jobs will get the best bang for your buck!

Forbes Online Reports: How to detect shabby workmanship in home construction

Eight Dream-Home Dupes

New building exploded during the housing boom. So did lazy construction practices.

List: How To Detect And Deal With Problem Homes

In early 2009 homeowners in Florida, Virginia and Louisiana began noticing odd things. Bathroom mirrors and pipes turned black. Computers and televisions stopped functioning, their circuit boards inexplicably fried. A foul smell plagued some houses. They reported health concerns too, from respiratory problems and bloody noses to insomnia....

Click here for full article

Bethesda Home With Zero Carbon Footprint

Washington Post reports:  

A Bethesda home with zero carbon footprint

By Elizabeth Festa

Special to The Washington Post
Saturday, May 1, 2010
Architect Marcie Meditch set out to show how a highly energy-efficient home could be built for a typical market price in a dense, suburban neighborhood like Bethesda... Click here for Full Article:

Brand New listing in Sumner!

Check Out Barbara's New Listing!

5107 Scarsdale Road, Bethesda Maryland 20816

Click HERE for HD virtual Tour

Offered at $869,000

MLS: MC7326131

Selling Frenzy as Tax Credit Ends

Msnbc Reports: Tax Credit Inspires Home Buying Frenzy

The tax credit expires today, april 30, 2010.. This  has inspired everyone shopping for a home to rush to get a ratified contract before this magical date to ensure that the can reap the benefits of the Home-Buyer Tax credit. 

New York Times Reports: Costly Tax Credit Served it's Purpose

 April 30th is the magical date that has home buyers in a frenzy and that for our company has sparked business to record levels for the months of march and april.  The New York times further discusses the costs and implications of this tax credit  from May 1st onward.

Home Tax Credit Called Successful, but Costly,
By DAVID KOCIENIEWSKI
Published: April 26, 2010
Click here for full article

Great website helps you discover all that DC has to offer

One of the many great things about the DC metropolitan Area is the cornucopia of cultures and cultural experiences we have right around us. If you want an inside scoop on some of the most interesting & unique cultural experieces that DC has to offer, be sure to check out

Cultural Tourism DC Online

March 2010 was a great month for existing home sales!

Existing home sales soar in March

Apr 22: Existing home sales jumped 6.8% in March, with home buyers racing to get a tax credit that expires in April, according to a real estate industry report released Thursday.   Click Here to read more

Jumbo Mortgage Market Heating up!

Jumbo mortgages and housing market begin to heat up with spring

By Renae Merle

Washington Post Staff Writer
Saturday, April 24, 2010
Since the collapse of the housing market, home buyers trying to a secure mortgage of more than $729,750 have faced higher interest rates and tough new standards to even qualify for a loan.
Now the market for these "jumbo" loans is starting to thaw. The average interest rate for a 30-year fixed-rate jumbo mortgage stood at about 5.8 percent this week, according to HSH Associates. That is near historic lows and down significantly from the height of the financial crisis, when it was near 8 percent...

Washington Post Reports: Click here for full story 

Getting your Garden Ready for Summer? Consider Hybrid Tomatoes

Wall Street Journal Reports: New Hybrids Promise Same Flavor, Less Fuss; Heirloom Lovers Stew

We have heard a lot about Hybrid cars, and  going green as a way to save the planet and  reduce our carbon footprint.    Hybrid tomatoes however can  offer great taste with less maintenance then their purebred counterparts. Click link above to read more from Wall street journal online