December 2014 RSS Feed

The Warrenton Group currently has 9 projects on going in the city and surrounding areas.The first signs of the Warrenton Group's project in Petworth have potentially sprung up at 3619 Georgia Ave with the above posted zoning variance.   The website describes a 6 story building including 83 units with modern amenities for mixed income residents coming to the neighborhood. The project is depicted as having more than 81,000 square feet of residential space and 2,300 square feet of retail space to offer.  

It is a part of the District's Communities Initiative.The NCI is a District government program designed to revitalize severely distressed subsidized housing and redevelop neighborhoods into vibrant mixed-income communities.

The government plan is…

So you have made the decision to enter into the real estate market - you want to buy a home. This opens a flood gate of questions.  One of the first that needs to be addressed is, “How will I pay for this investment?”  Many people lock themselves out of the real estate market because they do not think they can afford to buy, but there are many loan options for buyers.  

The most common loan is a conventional loan.  The conventional loan uses Fannie Mae or Freddie Mac guidelines for conforming loans.  As of right now these guidelines look like the following:  The minimum down payment for a loan up to $417,000 is 5%.  From $417,001 up to $625,000 the minimum down payment is 10% and from $625,001 or more - a jumbo loan - requires a minimum down…