ISAACS | COMPASS
BLOG in the district
NEWS | EVENTS | UPDATES
Keeping you abreast of DC real estate topics and current events.
Office
NW DC
20005
CONTACT
WhatsApp Chat
FHA AND ACCESSORY DWELLING INCOME
The U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) rolled out a new policy in late October expanding accessing to FHA mortgage financing for homes that include Accessory Dwelling Units (ADU). Lenders may now consider...
NOVEMBER MARKET UPDATE
Latest Data | 2023 in the District of Columbia: Oct. 2023 Sold Dollar Volume was $402,129,235, a decline of -13.09% from Oct. 2022’s $462,697,001; Oct. 2023 Median Sold Price was $678,500, up 4.38% from October 2022; Avg Days on Market (DOM) in October was 30 Days, up...
FED SKIPS IN NOVEMBER | FUNDS RATE UNCHANGED
Fed Chair Jerome Powell announced at 2PM today that rates would not increase this month. Per the FOMC statement: "Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but...
GENERATIONAL HOMEBUYING TRENDS IN 2023
Breaking down the home buying market by generation Baby Boomers now represent 39% of American home buyers, according to an NAR study, an increase from 29% in 2022, overtaking Millennials. Home equity, long credit histories, nest eggs and experience in the housing...
DC FIRST TIME HOMEBUYER TIPS | WHAT TO BUY
Is finding a home you love in a neighborhood you love, with a short commute and good investment value impossible? Nah. What may seem like a daunting task can be achievable by following a few guidelines and breaking the process down into simple steps: Hire a real...
ANOTHER FED RATE HIKE, DOOR OPEN TO ONE MORE
Following today’s FOMC meeting, Fed Chair Jerome Powell announced another key interest rate increase in spite of the recent pullback in inflation. The Federal Reserve raised the benchmark rate by .25% and hinted that yet another hike may occur in 2023. The federal...
PAUSE, PIVOT or PEAK? JUNE FED UPDATE
A "Skip" was the next step in the Fed's fight against inflation at June's FOMC meeting. Federal Reserve officials held the benchmark rate steady for the first time since March 2022, but policymakers forecast the rate to rise to 5.6% this year, up from their March...
HOMEOWNERS CAN TAKE A PAUSE ON PAYMENTS
Starting July 1st, homeowners struggling to pay mortgages can take advantage of an expansion of the Freddie Mac and Fannie Mae deferment policy. Payment deferral allows eligible borrowers to resolve a financial hardship keeping the same monthly mortgage payment by...
DC REAL ESTATE MARKET NOT TAKING A DIVE
DOWN, BUT NOT OUT Last week, mortgage interest rates rose to near 7% again, putting the kibosh on home purchases for many buyers. But prices and listings are still inching up overall. Some sellers-–knowing prices are softening, increasing less than usual and even...