Home Buying & Real Estate Thread

I’m probably in the minority here but I’m really hoping this current financial crisis FINALLY causes a downturn in DC real estate values. I’m looking to buy a 2nd property but the high cost of properties would’ve forced me to sell my 1st one. I’ve paid off enough of my 1st property so it’s actually a solid rental property (I’m currently renting again) but would like to live in another property that I actually own again. Anyone in a similar situation?
 
I’m probably in the minority here but I’m really hoping this current financial crisis FINALLY causes a downturn in DC real estate values. I’m looking to buy a 2nd property but the high cost of properties would’ve forced me to sell my 1st one. I’ve paid off enough of my 1st property so it’s actually a solid rental property (I’m currently renting again) but would like to live in another property that I actually own again. Anyone in a similar situation?

I bought in Logan Circle - it’s all dependent on where in DC you are looking to purchase. DC will remain recession proof in most places.

I rent the 2 bedroom for 44 and expect it to only go up
 
No, you get an LTV as high as 97% on a conventional loan. For the best rates, 95% LTV is the most go-to option.

Contact me directly if you have any other questions or concerns. I am a Mortgage Loan Originator.

Do you work in cali?
 
Do appraisers typically check the plumbing before buying a new home? I’m having an issue with my kitchen sink and I’m not sure if I should claim it through insurance or not. Been here only 2yrs in june. I’m also going through a refi so insurance is switching to a new loan company.
 
Do appraisers typically check the plumbing before buying a new home? I’m having an issue with my kitchen sink and I’m not sure if I should claim it through insurance or not. Been here only 2yrs in june. I’m also going through a refi so insurance is switching to a new loan company.

For a refi? I just did one a month or so ago, and the dude took probably 15 minutes to walk around. I think mostly just checking the age of items, number of rooms, approximate footage, etc. I could go check my actual appraisal report though if you want
 
For a refi? I just did one a month or so ago, and the dude took probably 15 minutes to walk around. I think mostly just checking the age of items, number of rooms, approximate footage, etc. I could go check my actual appraisal report though if you want
I wasn’t home for the appraisal, but I doubt they check plumbing issues with sinks and the pipes running in the house etc.
 
Got my refis in at 2.875%, 15 year couple weeks ago. Pretty happy with that. I'm still keeping a close eye on refinance rates, I still have a few I could refinance if they get low enough
 
Do appraisers typically check the plumbing before buying a new home? I’m having an issue with my kitchen sink and I’m not sure if I should claim it through insurance or not. Been here only 2yrs in june. I’m also going through a refi so insurance is switching to a new loan company.
Nah they definitely aren't checking that.
 
any thoughts or experiences on houses next to gas stations, oil change spots or used car lots? have been sort of looking for a cheap house for nearly a year now & it looks like prices are lower when the property is next to a gas station or auto related business. unsure if it'd be any worse than living in an industrial area in terms of adverse effects on health, any response is appreciated.
 
Tough area depending on what kind of job you have...How far into MD are you willing to go?

auto correct screwed me :lol:

but I really don’t want to go past Bowie. I’m not interested in that hour commute life.

I think it’s just wild the 80s and 90s townhomes in Largo are going for the low 300s now
 
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