DROdio Real Estate

Reposted from VARBuzz.com:

This Just In: Senators extend, expand homebuyer’s tax credit NAR’s lobbying efforts succeed yet again. Today US Senators passed a measure extending the first time homebuyer’s tax credit. Additionally, a reduced credit of $6500 is available to move-up buyers who have lived in their current homes for five years or more. The credit applies to those who sign sales agreements by April 30, 2010. The bill must still be voted upon by the full Senate, be reconciled with the House and be signed by the President.

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The following information was sent to us by Laura Triplett of Suntrust Mortgage:
RESPA Reform is Coming
The U.S. Department of Housing and Urban Development (HUD) has published its long-awaited final rule reforming the Real Estate Settlement Procedures Act (RESPA) of 1974. As a result of this ruling, significant changes impacting the way we do business will [...]

Congress recently signed the 2009 Stimulus Plan, but what does it really mean and how does it affect you and the real estate market? After some reading and research, I found out that there are four primary sections of the Stimulus Plan that affect real estate.For first-time home buyers, who purchase a home this year [...]

Here is a transcription of the audio above:
Hi.  This is Daniel Odio with DROdio Real Estate.  I'm just taking some clients around today in Washington D.C. and we're coming up against a very interesting issue that I want to make you aware of especially if it's important to you to be able to get FHA [...]

Want a live virtual tour, right from your computer, with us at the property? We offer this free service to any client with a budget of $500,000 or more. Here is an example of a Skype Virtual Home Tour for a client in Boston:

You just tell us which property or properties you want [...]

We recently helped a client navigate the challenging roads of making an offer on a short sale, and we thought we'd share the results for all to learn from!
Q: Is there any difference between a short sale and a short sale where the bank promises a quick response? Are the risks associated with [...]

Hello, Amber here!  I began working in real estate a few months ago, and found myself needing clarification on much terminology - words I'd heard being used over and over - but could not define or differentiate from another.  Being new to the industry has given me a great chance to provide DROdio Real Estate [...]

You've probably heard it on the news... 30-year loan rates have dropped to their lowest levels in 37 years!
What caused this? It's a result of the Federal Reserve pouring money into the mortgage market to spare the U.S. housing market, buying up $600 billion of mortgage securities and related debt. Additionally, the Fed, aiming to [...]

The real property tax rate for Fairfax county is $0.92 per $100 of assessed value (remember, to calculate your taxes, you would take the assessed value, divide by $100, and multiply by the tax rate).
Fairfax, like many other counties, has additional tax districts, and the indicated levy is simply added to the base rate ($0.92 [...]

As a follow up to a previous article referencing tax rates across counties in the DC metropolitan area, I wanted to elaborate on property taxes in Arlington County.
As previously stated, the tax rate for Arlington County is .838 (base rate) and totals .848 (including sanitation). Remember that these numbers represent the rate per $100 of [...]

The tax rate, according to the finance department of Montgomery County and Washington DC, is a straight-line assessment.  The tax rate varies in Maryland tax-class by tax-class within each County, however the rate within each tax class is a straight line. The tax rate schedule for Montgomery County,MD by tax class is attached. 08-property-tax-rates_021.pdf
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Comparing Property Taxes – DC, Maryland, and Northern VA
An introduction to our Tax Assessment Series
TAXES: the word alone makes us shiver, and somehow manages to confuse us entirely. And so the inspiration for this series of articles was born.  But since we’re a Real Estate company, we’re going to put a spin on it and write [...]

The following information is from Patrick Collins of First Savings Mortgage Corporation:
Who is affected:  Borrowers who own a home now and to rent out their old home to buy a new home
Change:  Borrowers must qualify to carry BOTH mortgage loans (old home and new home) - i.e. - rental income CAN NOT be considered - [...]

The home's appraisal is the value the lender uses to loan against... kind of.  Here's how it works:
If the value of the appraisal is higher than the price you're paying, you're in the clear.  In fact, it's good.  The lender will then take the sales price and loan off that.  So if, for example, you have a [...]

We often have investors who want to jump into investing because of all the media attention on the foreclosure market, and we're happy to help them craft a successful strategy. But - it's not as straightforward as you might think.
Here's what you need to know about investing in this market:  It's NOT easy.
Many investors think [...]

This information is courtesy of the Michael Farrell Team of Countrywide:
New FHA Minimum Cash Investment Requirements on the Horizon
A mortgage letter on the new FHA cash investment requirement (not less than 3.5%, currently 3.0%) is expected in the next 30- 60 days. FHA has indicated that the trigger for this change will be case numbers [...]

Discount points and origination fees can often be confusing to buyers. Here's how they work.
The first thing you should know is that we consider discount points to be "good" points that benefit the buyer, while origination fees are "bad" points that benefit the lender. The difference is that discount points will get you [...]

You have to admit, the current economic landscape makes it difficult for everyone, even the banks although you may not see it that way.  So what do you do if you've come upon hard times and you're no longer able to make your mortgage payment?  Do you sell your home?  But what if you owe [...]

What is a Tax Lien and How Do They Work?A tax lien is a lien placed upon a property due to nonpayment of property and/or personal taxes.   They move with the property and not with the owner.  Therefore, if you purchase a home with an tax lien, that lien now becomes your responsibility.  Keep [...]