DC DETACHED HOME SALES SURGE

While Other Home Types Fell In Value, DC’s Detached Home Values Soared The Median sold price for Detached DC properties in May rocketed to $1,327,659, a whopping 30.8% increase from April and +2.8% from May 2023. Washington DC condos fell 2.9% in value this May...

NVAR RELEASES NEW FORMS

NVAR First To Release New FormsPrimary changes relfect requirements related to NAR settlements Bye Bye, Cooperative Commission The Northern Virginia Assoc. of Realtors is the first to release a set of its revised forms in advance of the August 17th deadline for...

A MILLION DOLLAR HOME ISN’T ‘LUXURY’ IN DC

DC Among Metro Areas With $1M+ Value Averages The DCMA average home values top $1M and the baseline for luxury is $2M. Zillow Group’s research team published the results of their affordability study in April, showing, among other notable findings, that...

NEW APPRAISAL REVIEW PROCESS

HUD, GSEs to Offer New Appraisal Review OptionFinally, an easier way to contest bad appraisals Home appraisals now warrant an official second look if they are inaccurate or bias is suspected in the process. Starting this August, HUD (U.S. Dept. of Housing & Urban...

NAR RULE CHANGES NOW OCCUR IN AUGUST

Deadline Reset For NAR Settlement Practice Changes The National Association of Realtors released updates to its proposed settlement agreement related to class-action lawsuits, which received initial approval from the court on April 23rd. The updates include details...

NON-EXCLUSIVE TOURING AGREEMENTS. WHY?

Zillow's Play To Combat NAR Rules ImpactNon-Exclusive Touring Agreements Zillow debuted a ‘non-exclusive touring agreement’ for home buyers and agents this week They’re billing it as a consumer-driven response to NAR settlement agreement rule...

INFLATION RISING, RATE CUTS NOW FANTASY?

Mortgage Interest Rates Just Jumped Over 7.5%Inflation News Is Bad News For Home Buyers What just happened? Mortgage interest rates rose above 7.5% Thursday on the release of the PCE price index component of Q1 GDP.  As Matt Graham of Mortgage News Daily reports;...

COMMISSION CONCESSIONS WON’T COUNT AGAINST CAPS, SAY GSEs

Freddie Mac & Fannie Mae Commission Cap AnnouncementThe  mortgage giants say commission concessions for buyer agents won’t count towards IPCs (allowable interested party contributions, or concession caps as they’re commonly known),. Freddie and Fannie are...
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