Blog
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Washington Weighs New Taxes to Close Budget Gaps
Washington lawmakers consider new taxes to address budget gaps, including a 1% wealth tax over $100M.
Proposed revenue measures include higher corporate taxes, increased property tax limits, and a luxury Real Estate tax. -
Navigating D.C.’s down payment assistance programs
D.C. offers down payment assistance programs like HPAP, EAHP, and DC Opens Doors for first-time homebuyers, requiring specific criteria and qualified lenders. Delays can complicate moving plans and reduce competitiveness, with suggestions for better communication and pre-vetting. In the Caribbean, buying property involves planning, understanding local laws, and considering rental potential.
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Moving to Washington, D.C.: Things to Consider
Washington, D.C. provides a vibrant living experience with historical sites, educational museums, and diverse culture. The cost of living is 39% above the national average, especially in housing. Traffic congestion and flooding in some areas are common. Popular neighborhoods include Georgetown, Adams Morgan, and Capitol Hill. The city has a strong public transit system and housing assistance programs. D.C. boasts a robust job market, particularly in government sectors, but faces challenges like high living costs and tourist crowds.
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How 2025 Trends Fuel Homeownership Potential
Home sales may rise 1.5%, prices climb 3.7%, and mortgage rates stay above 6% despite slight cuts.
A historic 11.7% home inventory jump and 13.8% new construction surge mark supply resurgence in 2025. -
Get Your House Market-Ready
Consult a REALTOR®: A local agent helps price your home correctly and attract potential buyers.
Complete Repairs: Fix any outstanding issues, like leaky faucets or worn-out flooring, for a polished look. -
How to Appeal Your DC Property Tax Assessment
Most DC homeowners have received their property tax assessments, and those who disagree can appeal. To do so, file electronically by April 1 or within 45 days for new owners. Contact your assessor for clarification on the assessment. Gather specific evidence to support your appeal, which can be based on market value, equalization, classification, or property condition. If denied, appeal to the Real Property Tax Appeals Commission within 45 days, and as a last resort, to the DC Superior Court.
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What Signals a Buyer’s Market in 2025-26?
Currently, low inventory and rising prices make it a seller's market, but conditions are changing.
Interest rates may stabilize, encouraging more buyers to enter the market in the near future.