Starting January 2020, the maximum loan limit will be $1,500,000 across the country (no longer State or County specific). *Borrowers with partial VA Eligibility will want to review the amount they can purchase with no money down with a licensed lender*
What does this mean? The Funding Fee amounts for VA Purchase and Refinance transactions will increase for loans closing on or after January 1, 2020. The table below outlines these changes:
This is a great opportunity for our Veterans to purchase with no money down without county to county loan amount caps!
Virginia, Maryland, and Washington DC have considerably high veteran populations, both in terms of percentage and sheer number. That said, condominium boards and HOAs are wise to seek
That’s right--the year 2020 is here! Although we’re not all riding around on hoverboards, these are still very exciting times! In a real estate market as hot as the DMV, there are still plenty of great purchase opportunities. Based on recent trends, new development plans throughout the area, and 40+ years of combined experience selling homes in the DMV, here is our 2020 vision of neighborhoods to keep an eye on over the next 12 months!
Situated in northern Alexandria between Del Ray, Potomac Yard, and Arlandria, Warwick Village should be high up on your list. Originally conceived as rental community of over 600 townhomes, this neighborhood was developed to help house the DC area population boom of the 1940s and eventually sold
Recently completed and now selling quickly, The Shaw is an incomparably classy multi-family dwelling in the beating heart of Washington DC. Comprised of one-bedroom, two-bedroom, and penthouse units that range from 546 ft² to 1,343 ft², The Shaw now stands at 618 T Street NW in the thriving and vibrant neighborhood from which it takes its name.
Home to Howard University and named for Robert Gould Shaw--a forward-thinking Union army general--the Shaw neighborhood of DC has recently become a hotspot for great dining and retail (local, national, and international alike) and has a thriving nightlife that owes much to the influence of music legends who played there, including DC native Duke Ellington, whose shining sculptural likeness greets residents
DC is brimming with ‘great’ condos, but only a few are exciting. The soon-to-be-completed eNvy condominium definitely falls under the latter descriptor. Perhaps what makes it even more exciting is that it is so incredibly understated. The building and its beautiful 127 units do not scream “Come live in me!” but rather say “Hi. I’m elegant in my simplicity and I’m here for you if you need anything at all.”
The first exciting thing to note about eNvy is its brilliant location at 70 N Street SE. Capitol Riverfront (aka Navy Yard, aka Ballpark District) has been steadily upping its game as a neighborhood over the last decade and features (or will feature) such other condos as Veliocity, The Bower, and Avidian. eNvy residents will not only have homes
This is a cool building. No other flashy or more descriptive words are needed. It’s just cool. The Peninsula 88 condominium is located at Buzzards Point and is unique in that it is situated right where the Potomac and Anacostia Rivers meet. This makes for excellent and exciting views—especially from the building’s wisely considered rooftop terrace.
Southwest Waterfront’s elevation as a DC community cannot be oversold. The SW quadrant was already humming and buzzing with life, just waiting to become the next hot thing and then...along comes The Wharf. If there had previously been any doubt, the arrival of The Wharf made it official: Southwest Waterfront is a neighborhood to be reckoned with. The amenities and conveniences that the development
Though the only trolleys rolling down its streets these days are filled with sightseers, Arlington, VA remains the quintessence of the streetcar suburb. Separated from the District of Columbia by a stretch of the Potomac River, it has so much to offer. For those working in DC, Arlington is incredibly convenient to its concentrated areas of government and business. The Blue, Yellow, Orange, and Silver Metro lines, along with five bridges, connect Arlingtonians to The District. In short order however, Arlington residents may have even less reason to commute. The opening of Amazon’s HQ2 in Crystal City will require a workforce of some 25,000.
With all of that in mind, now is absolutely the time to buy a home in Arlington, VA. Situated in the heart of
Park View, much like adjacent neighborhoods Columbia Heights and Petworth, has become increasingly popular within the last five years and the development of new homes to accommodate new residents has been going at a substantial clip. There have been several new builds in the neighborhood including The V and The Warder, as well as a strong showing of conversions like The Helicopter Factory, and renovations such as The Parkview and The McMillan. The 625 Park Road condominium combines both development practices quite deftly.
The main building of the New Commandment Baptist Church was purchased five years ago, with an aim at tearing down and re-building. Along the way, neighbors chimed in and achieved historic designation for the
Of late, the District of Columbia has seen the development of an all-but-countless number of condominiums and it appears this trend will continue. Interestingly, Washington DC’s borders remain within what was once a 100-square-mile diamond. Now as more and more people want to live here, it stands to reason that the demand for multi-family dwellings--such as condos--will increase.
Additionally, the District’s long-standing restrictions on how tall and wide buildings can be built means an increased number of individual developments--that just keep coming. Unsurprisingly for anyone who has kept up with DC’s real estate trends--or any urban market for that matter--the most sought after condos are situated on or near the water.
Arlington VA is a richly diverse streetcar suburb that deserves the attention of anyone looking to buy a home. Not only will it host half of Amazon’s incoming east coast headquarters—which will require some 25,000 employees—but its countless offerings and great proximity to DC make it an incredibly attractive place to live. Filling out the space between the Potomac River and the deadly straight, 45-degree line, which was once the District’s southwest border, are an eclectic mix of exciting and characterful neighborhoods. Potential homebuyers should take special note of Courthouse, Clarendon, Ballston-Virginia Square, Rosslyn, Crystal City, and National Landing.
Courthouse (aka Court House)
Is this neighborhood named after the courthouse that
Let’s say you want to live in the DC Metro Area, but not right in the district, and you want to live somewhere super classy with reasonable cost of living. You’ll want to consider moving to Alexandria VA for sure. As the southernmost destination of the Metro, Alexandria seems to be the perfect distance from the big city—close enough to keep you in the loop and plenty far for escaping the constant hustle.
Two brand new developments have cropped up to support the relaxing lifestyle that those moving to Alexandria are after: Cameron Park and Robinson Landing. Both combine townhomes and condos and feature green and waterfront landscapes respectively. Alexandria VA is a proper city with a small-town vibe, yet it has the scope to support
Compass is a licensed real estate brokerage that abides by Equal Housing Opportunity laws. Information is compiled from sources deemed reliable but is not guaranteed. All measurements and square footages are approximate. This is not intended to solicit property already listed. Compass is licensed as Compass Real Estate in DC and as Compass in Virginia and Maryland. 1313 14th Street NW, Washington, DC 20005 | 202.386.6330