Washington’s fall market achieved relative balance with slight inventory growth and stable median pricing.
Government employment stability underpins continued housing demand.
Suburban Maryland and Northern Virginia show stronger resale momentum.
Forecast: Modest 2–3% price firming expected through 2026 as activity steadies.
Self-employed individuals can qualify for a home loan, but they may face additional challenges in proving income stability. To improve approval chances, consider non-conforming loans, make larger down payments, raise credit scores, and lower debts. Lenders require documentation like tax returns and business licenses. It's essential to shop around for lenders familiar with self-employment. Non-qualified loans may offer more flexible criteria. Maintaining separate business and personal expenses can also enhance creditworthiness.
Washington, DC has two active office projects totaling 434,000 square feet.
Half of the larger building’s space has already been preleased.
DC’s office construction remains limited, signaling cautious developer sentiment post-pandemic.
Regional construction activity remains modest but steady.
DC’s market shows cautious optimism with selective tenant demand.
Buying a home for the first time can be daunting, but preparation is essential. Key tips include saving for a down payment, completing a homebuyer education course, assessing financial health, and considering all costs beyond the purchase price. Understanding credit scores, exploring first-time homebuyer programs, and knowing mortgage options are crucial. Getting pre-approved for a mortgage, working with a real estate agent, and thoroughly inspecting homes are also important steps. Lastly, think long-term, seek legal and financial advice, and be patient throughout the process.
First-time homebuyers often make costly mistakes like breaking their budget, skipping mortgage preapproval, and foregoing home inspections. It's crucial to set a comfortable budget including maintenance costs, get preapproved (not just prequalified) for a mortgage, and never skip a home inspection to avoid hidden repair costs. Also, comparison shop lenders for the best rates and terms, and hire your own real estate agent to ensure your interests are fully represented.
Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!
Provide a comprehensive disclosure package before listing: Include seller disclosures, inspections, HOA documents, and a FAQ to inform buyers upfront.Promote open house opportunities: Utilize MLS tools to list open house dates and times, making it easier for buyers to attend.
Saving for a down payment can be challenging for prospective homebuyers, but it is achievable with careful planning. Key strategies include setting a realistic savings goal, creating a dedicated savings account, developing a budget, automating savings, and using windfalls to boost funds. Reducing debt, exploring down payment assistance programs, increasing income, and considering co-buying options can also help. Commitment and patience are essential for building the necessary funds for homeownership, which offers long-term stability and potential equity.
Washington, DC
Active listings in Sep: ↑ 48.7% yearly
Active listings nationally: ↑ 17% yearly
Median list price: ~$600K, unchanged yearly
Median days on market: 2
Price reduced share: 18.1%, ↑ 5 pps
Preparing financially before buying a home is crucial. Upfront costs include the down payment, which can be as low as 3-5% depending on the loan type, plus inspections, appraisal, and closing costs. Savings should cover these and monthly mortgage payments. Review your budget and calculate your debt-to-income ratio to ensure affordability. Maintain a good credit score by avoiding new credit and checking for errors. Proper planning sets you up for successful homeownership.