Tagged : Fannie Mae RSS Feed

Found 9 blog entries tagged as "Fannie Mae".

Home buyers should know that the mortgage market is not exempt from the impact of a possible government shut down, which the U.S. faces perhaps as soon as Tuesday if lawmakers do not agree on spending cuts.

On a positive note, home owner who are pursuing mortgages bought and backed by Fannie Mae and Freddie Mac can feel relieved. Those mortgages would not be affected because those companies rely on fees from loans to keep their operations going, not on government money. Luckily, Fannie Mae and Freddie Mac-backed loans comprise the majority of loans as of late.

However, home buyers pursing loans backed by a government agencies like the Federal Housing Administration should keep a sharp eye on government decisions this week. Any of these loans that…

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2012 OTIS ST NE, WASHINGTON, DC 20018

List Price: $319,000

This is a short sale in the Michigan Park neighborhood of NE DC.  $319K is a reasonable price to pay for a single family over there.  Homes in this area have sold for as much as $500K.  Area has a ton of up side. 

4922 7TH ST NW, WASHINGTON, DC 20011

List Price: $280,000

This is another short sale opportunity in Petworth.  This home has been on and off the market a few times.  Homes just like it are selling for $499K fixed up.  If you keep the costs down this is a good investment.  Will have to wait for the short sale approval. 

324 DOUGLAS ST NE, WASHINGTON, DC 20002

List Price: $280,000

Affordable option close to the Rhode Island Metro station.  Good buy and hold property while…

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4920 7TH ST NW, WASHINGTON, DC 20011

List Price: $499,900

Great looking property.  Totally renovated and ready for you to move in.  Very reasonable price for a brand new home.  This is in the Petworth neighborhood and is just north of Sherman Circle. 

507 K ST NE, WASHINGTON, DC 20002

List Price: $325,000

Nice property to renovate in the H St area of Northeast Washington DC.  Renovated properties like this one are selling for over $600K. 

1133 ABBEY PL NE, WASHINGTON, DC 20002

List Price: $475,000

This property is overpriced.  Should be $25-40K lower at least.  No central AC but this is a good home.  Close to H St and Capitol Hill. 

5107 12TH ST NE, WASHINGTON, DC 20011

List Price: $169,900

This is a Fannie Mae Homepath property. …

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4103 3RD ST NW, WASHINGTON, DC 20011

List Price: $239,900

This is a foreclosed property in the Petworth neighborhood. Listed well below the average price of a row house in this area. Good value. This property will most likely receive multiple offers.  8 blocks from the Petworth metro. Short distance to the shops on Upshur St NW. Fixed up homes are now selling in the $600,000’s in Petworth. 

1300 13TH ST NW #102, WASHINGTON, DC 20005

List Price: $479,000

I have posted this property before on this blog. It still has not sold. Very reasonably priced 2 bedroom unit in the Logan Circle area. This property is listed as a short sale.  Short distance to Whole Foods and all the shops and stores on P St/14th St.  This is one of my favorite condo buildings…

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Hot Properties in Washington DC

3063 Clinton St NE, Washington, DC 20018

List Price: $209,900

Just came back on the market today.  Cheap for a single family home.  Regular sale.  Woodridge area.  Fix and flip for mid $300's.  Not too far from the development occurring in Fort Lincoln. 

 

3949 R St SE, Washington, DC 20020

List Price $108,000

Cheap home in Fort Dupont area of SE DC.  Fannie Mae owned.  Resale is in the mid $200's.  Low price.  Good flip.  Will sell fast.

 

160 Adams St NW, Washington, DC 20001

List Price $465,000

Who is going to be the first buyer to get this seller down to earth?  Estate sale.  Get price down and make some money.  Ledroit Park real estate is doing very well. 


4915 Illinois Ave NW, Washington, DC…

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Hot Washington DC Property Post for June 5, 2012

 

905 Emerson St NW, Washington, DC 20011

List Price: $264,900

Petworth is on fire right now.  Buy this and flip it.  Sell for $500-600K.

 

1420 Crittenden St NW, Washington, DC 20011

List Price: $549,990

This is in 16th Street Heights.  The price is way too high.  I think I have posted this on the blog 3 or 4 times now.  This seller needs a reality check.  A cash offer with quick close in the low $400's is what it will probably take to get this one.  Renovated it would sell in mid $600's.

 

3314 New Hampshire Ave NW, Washington, DC 20010

List Price: $345,000

Wells Fargo really underpriced this property.  It is available for owner occupants only.  It will get multiple offers.  This…

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Every Friday I will blog about the best deals that I think are available on the market.  Buyers need to understand that inventory is very low right now.  To get a good deal you must be patient and be willing to make a lot of offers with the hopes that one will stick.  A lot of the homes on the market right now are overpriced.  You need to be prepared to make a lot of lower then asking price offers and hope that the seller comes to his or her senses. 

Here are the hot properties that I think are worth looking into:

1306 FARRAGUT ST NW, WASHINGTON, DC 20011

Huge house.  Been on the market for 217 days.  Started at $680K.  Homes on this street in 16th Street Heights have huge lots.  

Current Price: $485,000

Offer Price: $425,000

Resale Price:…

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Last evening I met with a homeowner regarding his decision to complete a Prince Georges County Short Sale.   The meeting was initiated by the homeowners lender.  In my experience this setup is rare.  Typically, in these situations it is the borrower(homeowner) who must contact the lender to inform them that they would like to do a short sale.  The fact that the lender has reached out to the borrower to initiate a Prince Georges County short sale shows you the situation that most lenders are faced with.  In the last few years lenders have had to adjust their loss mitigation efforts due to the mistakes they have made when foreclosing on their borrower.  That may all change soon.  Last week 49 state attorneys general came to a settlement with the nation's…

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A lot of investors and homebuyers ask me about buying a Washington DC foreclosure.  In this blog I will talk about the process a bank must go through to foreclose and where to search for them. 

First, you must understand that in Washington DC there are very few foreclosures on the market currently.  It has been over a year since banks have foreclosed on a property in Washington DC.  This is due to the robo signing issue(which was just resolved last week) and the mediation law that the DC council put in place in December 2011.  The mediation law forces banks to meet face to face with the borrower to prevent a Washington DC foreclosure.  In the second half of 2011 only 25 notices of default were issued by banks compared with over 1000 issued in 2010.  A…

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