If you are undertaking a major renovation on your home, you hire a general contractor. Renovations are complicated. Permits must be pulled, reliable sub-contractors hired, and a work schedule organized and executed. A general contractor is the project manager. They are accountable for all aspects of the project. They know local codes and ensure [...]
With the holiday season officially upon us, we are reminded of the importance of home. This is the time of year when we are grateful for what we have, who we share it with and the home we celebrate in. What makes home special is different for everyone. For some, home is where we [...]
The real estate industry is one of the largest sectors of the US economy and a barometer of our country’s economic health. Additionally, the strength of the market can have a direct effect on the personal wealth and liquidity of current homeowners. For those interested in buying or selling a home, understanding the direction of [...]
As the costs of homeownership increase, many would-be home buyers are considering renting instead. We are often asked if this is a smart financial move. The general rule of thumb is that if you plan to live in the same location for five or more years, it is a wise investment to buy rather [...]
As the Fed announced another rate hike and national average housing prices decreased 1.1% between July and August, the biggest decline since 2012, the question on many minds is – are we headed for a major housing correction? The answer, at least for the DC Metro area, is most likely NOT!!! We looked at [...]
With home prices and mortgage rates at all-time highs, it’s time to be creative about financing options. Current standard mortgage rates are hovering at 7%, but lenders are offering products that bring monthly payments down to make homeownership affordable. Last week we discussed mortgage points. This week’s topic is the 2-1 buydown loan program. This [...]
The Reishman Group is excited to announce our partnership with Final Offer, an online real estate platform that empowers top real estate agents to facilitate a more transparent offer and negotiation experience to their clients. The platform went live in the Washington, D.C., Maryland, and Virginia region earlier this week with more than 50 residential [...]
It seems that many buyers in our market are waiting on the sidelines to see if prices in our area will decrease. As expected, the national housing market slowed in September in response to the Fed’s efforts to curb inflation by making money more expensive. According to the US Department of Housing and Urban Development [...]
Mortgage rates have been making headlines this month, and often the rates quoted by the media are not the same. This is because rates are not controlled by the government, and every lender sets its own rates. Rates quoted are most often those reported by Freddie Mac or Fannie Mae. Fannie Mae. These institutions were [...]
OUCH!!! Conventional mortgage rates increased to 6.8% last week after the Fed announced another rate hike, and they are predicted to stay at these levels, or increase as the year progresses. Jerome Powel, Chair of the Fed, warned that the housing market needs a correction, and that his policies are aimed at getting inventory to [...]