Headlines: A look at DC’s tiny houses and million dollar ‘hoods

Here’s a quick look at what’s happening in real estate…

Refinances drive meager mortgage volume again

Applications to refinance jumped 4 percent from the previous week but are still off 39 percent from the same week a year ago. — CNBC

6 DC neighborhoods where homes cost $1M and up

The most expensive neighborhood so far in 2014 is Massachusetts Avenue Heights, to the west of the Naval Observatory, where the median sales price this year is $1.847 million. Unsurprisingly, it is also the DC neighborhood where homes take the longest to sell (61 days on average). — DC Urban Turf

Millennials should be buying a home right now

Assuming that home values stayed constant and that a home buyer would put 20 percent down and take out a 30-year fixed-rate mortgage, Zillow found that a D.C. area buyer who waits one year to purchase a home would probably pay an additional $186 per month. — Washington Post

DC’s ‘Tiny Houses’ highlighted in ReasonTV video

Take the politics as you will; the video is worth watching for its explanation of the tiny-house dilemma and its provocative arguments in the ongoing debate over how cities like the District should manage their growth. — Washington City Paper

What you need to know about Dupont Circle’s secret tunnels

Even those who do know about the underground tunnels beneath Dupont Circle may not know about its storied and occasionally sordid history, nor about the plans to turn it into to a destination the likes of which D.C., and honestly the United States, has not seen. — Curbed DC

Why 83% of real estate agents become obsolete after handing over the keys

One major reason homeowners do not rehire their real estate agent is that they simply cannot remember their agent’s name. A dismal 17 percent of homeowners actually use their agent again. — Inman News