THE BILL DAVIS TEAM
CENTURY 21 New Millenium
4437 Brookfield Corporate DriveCENTURY 21 New Millenium
Suite 110
Chantilly, VA 20151
HOUSE OF THE WEEK| The five-bedroom, seven-bathroom, 9,100-square-foot house has a multisport court with a basketball hoop and stadium seating.
The 30-year fixed-rate average has risen nearly a quarter of a percentage point the past two weeks and now stands at 2.97 percent.
https://www.washingtonpost.com/business/2021/02/25/mortgage-rates-surge-higher-second-week-row/
Two programs in Michigan will be devoted to creating new units and other support services.
TOWN SQUARE | When Bank of America's two grant programs are used together, home buyers receive an average of $14,000 to help with their home purchase.
WHERE WE LIVE | The village was the first of 10 built as part of James Rouse’s famed planned community.
REAL ESTATE MATTERS | The buyer should ask for copies of recent inspection reports to review. The report should be easy to read, and it should describe the reason for each repair recommendation.
https://www.washingtonpost.com/business/2021/02/24/how-find-qualified-home-inspector/
TOWN SQUARE | While the developers maintained the floor plans as designed, they hired a landscape architect to create more outdoor communal areas, such as a kitchen.
BUYING NEW | EYA is building 48 units near a shopping center and a regional park in Cabin John.
ASK THE BUILDER | For Pete’s sake, don’t tear any of that insulation off the walls! The previous owners were wise and made a fantastic investment by putting all that foam on the frigid poured concrete walls.
TOWN SQUARE | You can avoid trouble when selling or buying a condo by finding out how many owners are delinquent with dues.
Is the job straightforward, like repairing or replacing a chimney, redoing a concrete walkway or rebuilding a small stone wall? You can spec out the job with a contractor, who should be able to draw up a simple rendering.
https://www.washingtonpost.com/business/2021/02/22/how-find-rock-solid-mason-your-home/
REAL ESTATE MATTERS | You might need to hire an architect to review the work completed, draw up plans for the work as it was completed, then consult with that architect or a municipal law attorney to determine how to approach the municipality about getting the permits and rectifying your situation.
AFFORDABLE HOME OF THE WEEK | The open kitchen has quartz counters, stainless-steel appliances and a mosaic glass backsplash.
HOUSE OF THE WEEK | The two-bedroom, three-bathrooms condo has a three-level, 1,000-square-foot terrace with a gas firepit and gas grill.
The 30-year fixed-rate average climbed to 2.81 percent, its highest level since mid-November.
New owners’ remodeling project keeps the footprint and maintains a sense of stewardship
TOWN SQUARE | A new report found that 53 percent of Black renters have unpaid housing bills, compared with 38 percent of Hispanic renters, 27 percent of Asian renters and 21 percent of White renters.
WHERE WE LIVE | Neighborhood offers a village feel with plenty of city conveniences.
REAL ESTATE MATTERS | We’re not fans of just letting the bank foreclose on homes. We think foreclosure should be a plan of last resort.
BUYING NEW | Toll Brothers has single-family houses for sale near Turf Valley Resort in Ellicott City, Md.
ASK THE BUILDER | Talk to any municipal sewer worker or septic-tank pumpers, and they’ll tell you that grease and the newer flushable wipes are probably their biggest nightmares.
https://www.washingtonpost.com/business/2021/02/16/what-you-should-never-put-into-your-septic-tank/
TOWN SQUARE | Multiple mortgage options are available that could help buyers overcome a lack of savings or a lower credit score.
https://www.washingtonpost.com/business/2021/02/16/overcoming-financial-hardship-buy-home/
Most operators will charge a pet deposit to protect against potential unit damage, in addition to a monthly pet fee. If the community offers special concierge services, there may be additional fees for use.
REAL ESTATE MATTERS | The price you paid for the home -- but not the mortgage owed -- is a factor in determining "cost basis."
https://www.washingtonpost.com/business/2021/01/20/how-determine-profit-home-sale-tax-purposes/
AFFORDABLE HOME OF THE WEEK | The end-unit condo has an open floor plan with hardwood floors and an electric fireplace in the living area, a pendant light in the dining area and slate flooring in the kitchen, which has white cabinets and stainless-steel appliances.
HOUSE OF THE WEEK | Owner expresses mixed feelings about leaving her “elegant” but “not pretentious” home.
The 30-year fixed-rate average hasn’t moved in three weeks, holding steady at 2.73 percent.
Tight inventory for resale properties steers first-time buyers into alternative market sector
TOWN SQUARE | For borrowers with a specific goal in mind, such as paying off their mortgage before retirement or before paying college tuition, a 10-year loan could be a good option.
WHERE WE LIVE | Close-knit community boasts eclectic architecture and an easy commute to D.C.
REAL ESTATE MATTERS | A partition suit is an option when one sibling wants to sell and the other doesn't. But it can be costly and can ruin the relationship.
TOWN SQUARE | Residents in the new condos will live within walking distance of restaurants, shops, bars and nightlife.
https://www.washingtonpost.com/business/2021/02/10/more-condos-coming-national-harbor/
BUYING NEW | Ardora residential units are part of a mixed-use redevelopment of a bakery building.
ASK THE BUILDER | You’re going to build a simple box using 3/4-inch plywood and 1x2s that the flat-screen TV bracket or French cleats will attach to.
TOWN SQUARE | The apartments have nine-foot-high ceilings, noise-reducing windows, a stacked washer and dryer, USB charging outlets, modular shelving in the closets, tiled walls in the bathroom and subway tile backsplashes in the kitchen.
https://www.washingtonpost.com/business/2021/01/26/new-apartments-rise-dc-capitol-riverfront/
It just takes a bit of thought, time and a very small amount of money to make your kitchen function more efficiently.
https://www.washingtonpost.com/business/2021/02/01/tips-making-tiny-kitchen-work/
REAL ESTATE MATTERS | At the amount you pay now in rent, you have to see if the cost of your loan, any assessments on a condominium, insurance expenses and real estate taxes would be less or greater than what you pay now.
AFFORDABLE HOME OF THE WEEK | The unit has an open floor plan, hardwood floors, recessed lighting, energy-efficient stainless-steel appliances, white cabinets and an island with a breakfast bar.
HOUSE OF THE WEEK | For more than 100 years, the Rest was the home of one extended D.C. family.
The 30-year fixed-rate average, which was unchanged at 2.73 percent this week, remains near record lows and is down nearly three-quarters of a percentage point since a year ago.
An Alexandria family planned on an eight-month job. It lasted two years.
TOWN SQUARE | Adding some safety features to your home can make it easier to live there as you age, but seniors often worry that incorporating those features will be unattractive.
WHERE WE LIVE | Diverse area in west Silver Spring to be a stop on the Purple Line.
REAL ESTATE MATTERS | To preserve that friendship, you may wish to hire an attorney to draft a partnership agreement that spells out the ownership and financial responsibilities of owning that property, including what happens if one partner wants to sell and the other does not.
TOWN SQUARE | That share of buyers making offers sight unseen is the highest since Redfin began tracking the data in 2015.
BUYING NEW | Thirty-seven single-family houses planned at Laurel Hills Crossing.
ASK THE BUILDER | I’ve come to respect Europeans’ skills at making the most of the least when it comes to space in kitchens, bathrooms and other living spaces. If you need inspiration about how to work with small spaces, look on the Internet for images of how they do it across the Atlantic Ocean.
https://www.washingtonpost.com/business/2021/01/19/maximizing-your-island-small-kitchen/
TOWN SQUARE | In D.C., property taxes average 4.6 percent of income, while income taxes are 3.63 percent and sales taxes average 3.4 percent.
https://www.washingtonpost.com/business/2021/02/02/study-dc-is-among-places-with-highest-taxes/
Every home has one (or more). Permanently closed off or perhaps constantly growing (and in rare and especially confusing instances, sometimes both), this is an area of constant disorganization.
AFFORDABLE HOME OF THE WEEK | The main level has hardwood floors, a family room with a wood-burning fireplace, and an eat-in kitchen with stainless-steel appliances and granite counters.
REAL ESTATE MATTERS | You can add a third person to the title of the home, but you might end up with an unexpected result.
HOUSE OF THE WEEK | No part of the Dupont Circle home was untouched.
Proposals run the gamut addressing affordability, supply and wealth inequality.
The 30-year fixed-rate average fell for the second consecutive week, dipping to 2.73 percent.
The transit system is vital economically and even culturally for the Washington region. Here’s why it needs financial help.
TOWN SQUARE | The only inner suburban county where it’s more affordable to buy than rent is Prince George’s County, Md.
WHERE WE LIVE | The area at the edge of Rock Creek Park is known for its diversity and eclectic vibe.
REAL ESTATE MATTERS | If you feel that your homeowners association's reserves are too high, find out if there are any impending projects it plans to fund.
TOWN SQUARE | We asked two experts to provide some insight into how homeowners can raise their home value while making improvements.
BUYING NEW | Gulick Group is building upscale single-family houses at its Park Grove development.
ASK THE BUILDER | Soil composition is a very important thing to consider when it comes to the question of gutters or no gutters, it turns out.
https://www.washingtonpost.com/business/2021/01/26/how-choose-right-gutters-your-structure/
TOWN SQUARE | The Elm is adjacent to a pocket park that opens onto Bethesda and Woodmont avenues, where dozens of restaurants, shops and a movie theater are located. Access to the Capitol Crescent Trail is also nearby.
Clear out all the junk underneath your kitchen and bathroom sinks, turn on the taps and your garbage disposal, and look for leaks from above.
https://www.washingtonpost.com/business/2021/01/25/home-maintenance-tasks-winter-throughout-year/
AFFORDABLE HOME OF THE WEEK | Recent upgrades to the condo include new hardwood floors, new lighting, renovated bathrooms, a new kitchen counter, a new dishwasher and a new refrigerator.
REAL ESTATE MATTERS | Talk to the board first. If it doesn't relent, see if other owners want to weigh in.
HOUSE OF THE WEEK | The riverfront estate has been the longtime home of the American Horticultural Society.
The 30-year fixed-rate average moved slightly lower to 2.77 percent. Traders are watching to see what actions President Biden takes to address the pandemic.
Bias in home valuations has contributed to the racial wealth gap.
TOWN SQUARE | A new report by ATTOM Data Solutions says that homes in Montgomery and Fairfax counties were more affordable in the fourth quarter in 2020 than 12 months prior.
WHERE WE LIVE | Along with parks, the area along the Potomac offers plenty of history.
REAL ESTATE MATTERS | Home buyers beware: It’s going to be hard to find what you want at a price you can afford this year, especially if you’re looking for green space.
TOWN SQUARE | Each apartment will have wood plank-style floors, nine-foot-high ceilings, a washer and dryer, programmable thermostat, stainless-steel appliances, quartz countertops, pendant lights and a tile backsplash in the kitchen.
BUYING NEW | 1625 Eckington at Quincy Lane adds 179 units to up-and-coming NoMa neighborhood.
The pandemic forced many community associations to conduct their business virtually, and some boards are finding it works better than meeting in person.
TOWN SQUARE | Three common scams are lender impersonation scams, foreclosure relief scams and rental scams.
https://www.washingtonpost.com/business/2021/01/19/five-ways-protect-yourself-housing-scams/
REAL ESTATE MATTERS | With an uncertain economy, it's wise to spend less and save more.
https://www.washingtonpost.com/business/2021/01/18/how-get-into-better-financial-shape-2021/
AFFORDABLE HOME OF THE WEEK | The renovated kitchen has stone counters, a breakfast bar, stainless-steel appliances and recessed lighting.
HOUSE OF THE WEEK | The Scherzers got lots of help en route to their modern mansion overlooking the river.
After falling to a historic low, the 30-year fixed-rate average jumped to 2.79 percent this week. Meanwhile, mortgage applications soared to start the year.
Turning to urban turf as one way to address housing affordability.
TOWN SQUARE | Second home demand accelerated faster than demand for primary homes, which increased by 50 percent in October compared with October 2019, according to Redfin.
https://www.washingtonpost.com/business/2020/12/10/second-home-market-surges/
WHERE WE LIVE | The sprawling community in Frederick County is home to farmers and affluent homeowners.
REAL ESTATE MATTERS | The IRS allows you to avoid paying taxes on up to $500,000 in profits from the sale if you are married, or up to $250,000 in profits if you are single.
TOWN SQUARE | Companies experimenting with commission models could mean sellers and buyers saving money during transactions.
BUYING NEW | Commonwealth Place at Westfields is offering 86 of one, 120 of the other.
ASK THE BUILDER | Stop. Think. What happens when that monster storm, wildfire, earthquake or pandemic hits and you can’t get what you need? What are you going to do?
https://www.washingtonpost.com/business/2021/01/12/what-you-need-do-now-prepare-your-home-disaster/
TOWN SQUARE | The database includes nearly 40,000 violations found through DCRA inspections during the past three years.
Many economists anticipate another strong year with low mortgage rates and rising prices.
https://www.washingtonpost.com/business/2021/01/11/2021-housing-market-predictions/
You want to buy from a supplier that can provide good advice, offers a wide variety of products, performs quality installation work, promptly makes things right if things go wrong and charges a good price.
https://www.washingtonpost.com/business/2021/01/11/how-find-good-deal-floor-installer/
TOWN SQUARE | Renovations include a new roof, updated bathrooms, stainless-steel appliances, granite counters and new cabinets in the kitchen.
HOUSE OF THE WEEK | A blended family found what it was looking for in a Northwest Washington neighborhood.
The 30-year fixed-rate average sank to a record low 2.65 percent this week. Since the start of 2020, the 30-year rate has fallen more than a percentage point.
As building restrictions ease, many cities embrace the concept
TOWN SQUARE | The condo market lagged initially because condos typically have less space, and many buyers were wary of purchasing in a high-rise building that made social distancing more difficult.
WHERE WE LIVE | A neighborhood with varied, affordable housing awaits revitalization of its business corridor.
REAL ESTATE MATTERS | When you go to the tax office website and see that the home is listed as a three-bedroom, one-bathroom home with no garage but the home you’ve toured is a four-bedroom, three-bathroom home with a two-car garage, the prior owner likely did not get permits for the additions to the home.
TOWN SQUARE | Every unit will include a private patio or balcony and the fifth-floor units have access to private roof terraces.
BUYING NEW | Pulte Homes has sold most of the 128 planned in the Rockville, Md., community.
ASK THE BUILDER | Turning it off too soon may not allow the condensation inside the pipe to properly evaporate.
