New FHA Condo Approval Rules Take Effect

September 24, 2012 by · Leave a Comment 

The Federal Housing Administration recently published revised guidelines to its condominium project approval process. Under the previous guidelines, many condo associations opted out of the FHA approval process, often due to the legal liability they incurred just by filling out the application. The new rules ease some of that liability, as well as increase the […]

FAQ: Closing Costs in Virginia & DC

September 1, 2010 by · Leave a Comment 

Many buyers are aware that they have fees related to the purchase of a new home—a rough guide is 2.5%-3% of the transaction value–but what are these fees, and are there ways to minimize them? First, a few clarifications. Both buyers and sellers have closing costs in a transaction; the sellers’ are typically much higher […]

Home Buyer Credit Extension for Military Personnel Serving Overseas

April 7, 2010 by · Leave a Comment 

Even though the $8000 first time buyer credit and $6500 repeat buyer credit are about to expire April 30, 2010, members of the military serving outside the U.S. have an entire extra year to buy a principal residence and still qualify! The IRS has stated that eligible taxpayers must buy, or enter into a binding contract […]

$8000 First Time Home Buyer Credit & $6500 Repeat Buyer Credit

January 16, 2010 by · Leave a Comment 

It’s officially passed the House and Senate, and is now awaiting the President’s signature. Along with the extension of the $8000 First Time Buyer credit (now applies to any buyer under contract by April 30, 2010 and settling by June 30, 2010), there is now a new credit category: long-time residents of the same principal […]

What’s the cost of living in the Washington, DC, area?

December 27, 2009 by · Leave a Comment 

In a word: High.  You can use a calculator like this one to compare a salary in your current location to Washington, DC.  As of the date of this post, here’s a sample of how various locations stack up vs Washington, DC… Atlanta, GA – 45.3% higher in DC Dallas, TX – 44.7% higher in […]