Headlines from the DC Metro Area:

SW Wharf developers move on to design phase
DC Mud

With Zoning Commission approval of the First Stage zoning application secured last week joint developers of the $2-billion Wharf in Southwest now turn to the completion of the Second Stage PUD, for submittable early next year.

Build a homeowner's insurance policy to fit unique needs
Washington Examiner

The most important exclusions for the Washington metro area are earthquakes, floods, sinkholes and water backup from sewers or drains.

DC has the smallest median home size in the country
Curbed DC

A new analysis of listing data by Realtor.com shows that DC's median house size is the smallest in the country at 1,000 square feet.

National real estate news stories:

Buy a home without cash from parents
Bankrate.com

How a financial pro lost his house
The New York Times

There are many stories these days of people who lost their financial bearings during the housing boom and the crisis that followed, but my story is a bit different from most. I’m a financial adviser.

Home ownership rates increase: Blip or trend?
Wall Street Journal

The nation’s home ownership rate ticked up in the third quarter compared with the second quarter, suggesting that the three-year decline in home ownership may be starting to bottom out.

Headlines from the DC Metro Area:

Alexandrians in support of waterfront plan speak up
Washington Post

A key contributor to the early mistakes by the IRS was that the original version of the credit rules required essentially no documentation of home purchases.

Resale of the Week: Roomy Takoma Park foursquare
Washington Times

Prominently situated on a large corner lot at 7701 Takoma Ave., the house is listed for $895,000. Its stucco-and-red-brick exterior is enhanced by a large balcony above the front porch.

Late mortgage payments rise in 3rd quarter
Washington Post

While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners in the U.S. were having a harder time making their mortgage payments.

Monroe Street Market to break ground
Curbed DC

One of Brookland's newest revitalization projects is a five block multi-phase project that will deliver approximately 720 units, 45 townhomes and 80,000 square feet of street-level retail space.

Experts predict favorable winds for home sellers in 2012
Washington Examiner

With only three to four months of inventory available, and buyers poring through listings, 2012 should be a good year to sell a house and get good value on the next one.

Headlines from the DC Metro Area:

Flaws found in homebuyer tax credits
Washington Post

A key contributor to the early mistakes by the IRS was that the original version of the credit rules required essentially no documentation of home purchases.

Charting the market: Demand, supply more in balance
Washington Times

This year, we generally have seen another modest drop in supply. Even better than that, sales have risen in nearly every jurisdiction. And when we see sales rising faster than inventory, we know the market is improving.

Making a home in less than 360 square feet
DC Urban Turf

it appears that as the world’s population continues to grow, urban dwellers will have less and less space to deal with. Three UrbanTurf readers are making good use of their small spaces and shared some tips as to the ways that they’ve made it work.

National real estate news stories:

Triggers of lender scrutiny
The New York Times

Savvy ways social media can help you find a home
HSH.com

You're hoping to find a dream home but don't know where to start. How do you find a good agent? Where are the safest neighborhoods with the best activities for your children? Today's homebuyers have a new ally when digging for answers to such questions: social media.

Headlines from the DC Metro Area:

What $1 million buys you in DC
DC Urban Turf

In What X Buys You this week, UrbanTurf takes a look at properties on the market in the $995,000 to $1.1 million range to give readers an idea of what type of homes are available in this price point in the DC area.

DC feels pinch from lower jumbo loan limits
Washington Post

To many DC area residents, private parking spaces are worth their weight in gold. But exactly what is the value of being free from persistent meter maids, aggressive parallel parkers, and measly street parking options?

The ins and outs of contingency clauses
Washington Examiner

Signing a home sales contract is not the end-game in real estate, it is just the beginning of a settlement process that comes with built-in ways for a buyer to get out of the deal and financial hazards for sellers if they do.

National real estate news stories:

3 reasons every homebuyer needs title insurance
HSH.com

Home ownership rose in the 3rd quarter
Wall Street Journal

The nation's home-ownership rate ticked up in the third quarter, suggesting a three-year decline in home ownership may be starting to bottom out. The rental vacancy rate also rose, in a sign that rising rents could be reducing demand.

7 tips to avoid a moving company scam
Bankrate.com

The Federal Motor Carrier Safety Administration, which monitors moving companies, reported 7,325 closed enforcement cases in fiscal year 2010. Here are seven red flags to avoid so you don't become a scam statistic.

Headlines from the DC Metro Area:

Loan conditions hinge on down payment
Washington Times

Potential homebuyers eager to take advantage of today’s low mortgage rates and relatively more affordable home prices sometimes are stymied by the prospect of accumulating a substantial down payment.

Reverse mortgages can be a good option for seniors
Washington Times

A reverse mortgage allows you to get money from a lender, but you do not have to pay it back (or make any monthly payments) until you sell or die.

How much is a parking space worth?
DC Urban Turf

To many DC area residents, private parking spaces are worth their weight in gold. But exactly what is the value of being free from persistent meter maids, aggressive parallel parkers, and measly street parking options?

National real estate news stories:

5 golden rules of your interest rate lock
HSH.com

It is here where the loan office proves his or her value by helping you make the right decision. After all, this is the largest purchase most of you will ever make. The slightest change in interest rates translates into thousands of dollars over the life of the loan.

Proving income to land a mortgage
Bankrate.com

One reason some home sales fall apart is the buyer can't qualify for a mortgage loan. And one challenge for buyers and homeowners who want to refinance is they must prove to the lender they have enough income to afford the payments.

Headlines from the DC Metro Area:

4 million homeowners eligible for foreclosure review
Washington Post

On Tuesday, servicers began mailing letters to the estimated 4 million borrowers whose loans were in the process of foreclosure between Jan. 1, 2009, and Dec. 31, 2010, detailing how to request a review of an individual case.

Resale of the Week: 6-bedroom Craftsman house in Arlington
Washington Times

Arlington’s Lee Heights neighborhood offers some of the best aspects of suburban living, including quiet streets with cul-de-sacs to slow traffic and enable children to play safely.

Walter Street: The friendliest block on the Hill
DC Urban Turf

Physically, the street lends itself to interaction. The modestly sized row houses squeeze next to each other and the front porches line up. 

Sneak peak at the Foundry Lofts
JD Land

A first look inside the Foundry Lofts at the Yards, a 1918 industrial building on its way to becoming a 170-unit apartment building. First move-ins are expected at the end of November.

National real estate news stories:

What will the House decide on federal mortgage caps?
Wall Street Journal

Back in February, the Obama administration called for a decline in the maximum size of government-backed home loans as a way to start drawing back federal support for the nation’s mortgage market. They dropped on schedule on Oct. 1 but now a movement is afoot to revive the higher limits to support the ailing housing market.

Headlines from the DC Metro Area:

Creative refinancing doubly good
Washington Times

With interest rates remaining so low and the housing market still anemic, refinance customers abound. Most homeowners refinance to lower their interest rate, but there are many other objectives that can be accomplished through refinancing, depending upon the homeowner’s particular situation.

Lenders could take home's energy costs into consideration
Washington Post

A bill introduced Oct. 20 would force the big three mortgage agencies to take account of energy costs in every loan they insure, guarantee or buy. It would also require them to instruct appraisers to adjust their property valuations upward when accurate data on energy efficiency savings are available.

National real estate news stories:

Making sense of home price data
Smart Money

Because real estate is so local and home prices can change every few miles, homeowners and potential buyers should focus on trends in their specific neighborhoods. That means consulting a realtor who can pull up prices of similar homes that sold over the past few months.

Handling high closing costs
The New York Times

Those who are cash-poor can ask relatives for help. But some lenders advertise another option: If borrowers agree to accept a mortgage interest rate from a quarter to a full percentage point higher than they would ordinarily qualify for, they can receive credit toward their closing costs.

Headlines from the DC Metro Area:

One million new jobs means DC needs more housing
DC Urban Turf

A report, which can be found here, estimates that the region as a whole will need to build as many as 731,000 new units to house the workers — 211,000 units in suburban Maryland, 392,000 in Northern Virginia and 122,000 in the District.

A map of architecturally impressive DC homes
Curbed DC

Your guide to fifteen of the best looking houses we could find in a handy map so you can drive/walk/bike around to see them yourself.

Keep your feelings out of contracts
Washington Post

When a contract comes up, many homeowners have a hard time saying that they want to have a lawyer look at it first.

National real estate news stories:

Loan limit battle looms for house Republicans
Wall Street Journal

The issue puts House Republicans in a tough spot: Lawmakers campaigned last year to end federal bailouts, including the rescue of Fannie Mae and Freddie Mac. But many lawmakers, particularly Republicans in California and New York, face pressure from real estate agents and mortgage lenders in their districts, who have been hit hard by the real estate downturn.

Pending home sales index rises from one year ago
Inman News

Third-quarter data showed a 2.5 percent rise in GDP, compared with 1.3 percent in the second quarter. NAR expects U.S. GDP growth of 1.8 percent for the full year in 2011, with 2.3 percent GDP growth in 2012.

Headlines from the DC Metro Area:

How to buy a short sale property
Washington Post

From the short sale home buyer’s perspective, this third-party (lender) approval process is the major difference between a short sale and a regular sale. The short-sale home-buying process begins in the same manner as any other purchase: locating a home, determining a proposed offer price and preparing a written purchase offer.

Winterizing helps wallet, even sales appeal
Washington Times

According to the U.S. Energy Information Administration, most homeowners nationwide can expect a rise in costs associated with home heating this winter

New park in Southwest is in the works
The Dirt

A 4.2-acre park is slowly taking shape where a huge parking lot now exists on the southwest waterfront in Washington, D.C. The new redevelopment along the waterfront will use a denser development strategy for the buildings and wharfs, with some 50 percent open space,

National real estate news stories:

Freddie Mac CEO to step down
Wall Street Journal

The chief executive of Freddie Mac said he would step down next year, becoming the second CEO to resign from the mortgage-finance giant since it was taken over by the U.S. government in 2008.

Economic growth in U.S., though modest, speeds up
The New York Times

Economic growth in the United States picked up in the third quarter, the Commerce Department said Thursday, in an encouraging sign that the recovery, while still painfully slow, has not stalled.

Headlines from the DC Metro Area:

10 things to know about buying, selling your home
Washington Post

After staying put during the economic recession, you might be tempted by stabilizing real estate prices and low mortgage interest rates to sell your house and buy your next place. What you may not realize is how long and complicated the process of buying and selling a home has become.

Queen Anne-style home in Rockville gets national attention
Curbed DC

This 1900s-era 4 bed/2bath has been in the same family for the past forty years. It started out on the market at $500,000 (too high!, says Goldilocks), but has come down to $399,999 (just right!).

Home prices up in half of major U.S. cities
Washington Times

The biggest price increases were in Washington, Chicago and Detroit. The greatest declines were in Atlanta and Los Angeles. The August data provides a “modest glimmer of hope” that some areas may have bottomed out and could be turning around.

National real estate news stories:

Home prices tread water
Wall Street Journal

Here are four questions that borrowers should consider carefully before proceeding with a refinancing, according to experts.

Be neighbors with Vice President Joe Biden for $6.9M
Inman News

his Hacienda-style house might look like something out of the Spanish countryside, but it actually sits next to the vice president's mansion on the grounds of the Naval Observatory in Washington, D.C.

Headlines from the DC Metro Area:

Home Affordable Refinance Program: What you need to know
Washington Post

The HARP program, which was rolled out in 2009, is designed to help. Those who are “underwater” on their homes and owe more than the homes are worth.

Policy fixes may boost refinancing
Washington Times

If the Federal Housing Finance Agency is moderately successful in making these changes, the current refinance wave could turn into a tsunami.

Dominique Strauss-Kahn's DC home hits the market
DC Urban Turf

The three-bedroom home at 2613 Dumbarton Street NW in Georgetown was listed on Monday for the tidy sum of $5.2 million. Washingtonian reported back in early September that the home was poised to hit the market soon. 

National real estate news stories:

Knowing when to refinance
The New York Times

Here are four questions that borrowers should consider carefully before proceeding with a refinancing, according to experts.

Restringing the housing HARP
Wall Street Journal

The latest iteration came Monday, when the Federal Housing Finance Agency unveiled changes to a program meant to make it easier for underwater homeowners who are current on payments to refinance into a lower-rate mortgage.

Is gentrification always bad for revitalizing neighborhoods?
The Atlantic

The truth is that what some badly disinvested cities, districts, and neighborhoods desperately need is some form and degree of 'gentrification.' The challenge is to have enough without having too much.

Headlines from the DC Metro Area:

One real estate company offers a "bike-mounted tour"
Washington City Paper

Bikeability is a huge selling point these days, so it's not surprising to see realtors getting on board (following the architects, who are starting to include Bikeshare in their renderings).

FHA rules for condos make buying, selling difficult
Washington Post

FHA-insured mortgages have become a mainstay of condominium unit financing in the past several years, and now account for 40 percent of all purchase loans for condos in some metropolitan markets.

How value capture financing will revitalize White Flint
DC Streets Blog

Not only are the White Flint developers looking to include more mixed-use development in the community, they want to build new local streets to fill in a viable street grid and redesign the eight-lane Rockville Pike into a “21st century boulevard” with wide sidewalks, bike lanes, six rows of trees, and dedicated transit lanes.

How to find the best refi rate? Shop around
Washington Post

Consider speaking with someone in each of these categories: a big national bank; a credit union; a qualified and highly recommended mortgage broker (check with your local real estate agents; they usually have a list); an online lender; and a small regional lender.

National real estate news stories:

How to derail a mortgage refinance
Bankrate.com

A mortgage refinance is trickier than it was a few years ago. Here are five ways to mess up.

12 questions on Obama's refi plan
Wall Street Journal

The Obama administration is revamping a program that’s designed to let more homeowners refinance their mortgages even if they don’t have any equity.