Headlines: Cat cafe coming? DC Open Doors program closes on $72M in financing so far
Here’s a look at what’s happening in real estate in the District of Columbia and beyond.
Open Doors works by giving buyers access to mortgage products that can include incentives like down payment assistance, lower mandatory down payments and lower interest rates than a buyer might normally qualify for. –Urban Turf
The Washington Humane Society will supply the cats to the cafe, according to a spokesperson, meaning all the cats will be available for adoption. –DCist
The company is announcing Thursday that it is moving into the Washington real estate market by acquiring the boutique brokerage Lindsay Reishman Real Estate. Both are small firms. Urban Compass has 108 agents, and Reishman about 40 employees. –Washington Post
The Montgomery County Council will consider legislation pitched by Leggett to create the ombudsman position in his executive office. The hire, to be paid an estimated $198,600 annually, will act as a problem-solving liaison between developers and county and state agencies, bring “systemic concerns to the attention of the county leadership for resolution,” recommend improvements and work to implement them. –Washington Business Journal
That means exchanging your warm-weather sales tools and tactics in favor of an entirely different approach that will convince home sellers and buyers that “Snowvember” and “Icember” really are a good time to buy or sell — even though the swimming pool looks more like a hockey rink. –Inman News
Sales of existing homes priced above $1 million jumped over 16 percent in October from a year ago, according to a Realtors report released Thursday, outshining every other price segment. The next strongest was the $750,000-$1 million range, up over 12 percent. Sales of homes priced under $100,000 fell 6 percent. -CNBC