Real estate round-up: September 30

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Autumn home selling and buying Baltimore Sun Home sales in the Baltimore area generally peak in June and slide pretty much for the rest of the year, so you can see why some would-be sellers pull their homes from the market with the idea of trying again the next year. D.C. Economic Partnership not ready to go Washington Business Journal The nonprofit partnership describes itself as "your first point of contact for development and business opportunities in the District of Columbia." Tour Chancellor's Row development in Brookland Curbed DC Out of the one hundred homes in the first phase of their Chancellor's Row development in Brookland, only eleven remain on the market. Of those eleven, only two are available to move into this year.�

National real estate news stories: In the beginning of land title claims St. Augustine Record If someone makes a title claim, it's up to the landowner to defend his ownership.� Title insurance not only provides and pays for legal representation to defend your ownership rights, it will also pay out the policy amount should that defense fail.� Redfin Web site now publishes data on real estate agent success The New York Times The tool can help sellers find agents who are active and who have had success in their specific neighborhood. Using information from local multiple-listing services, where agents list the home they are representing for sale, the "Scouting Report" tool provides data on roughly one million agents. Conforming loan limit drops Oct. 1 Housing Wire Congress elevated the conforming loan limits in 2008 to allow the Federal Housing Administration, Fannie Mae, and Freddie Mac to insure and guarantee more mortgages when the credit markets froze.

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New rules attempt to clarify DC mortgage foreclosure legislation

The D.C. Department of Insurance, Securities & Banking ("DISB") proposed new rules for governing residential mortgage foreclosures in an attempt to clarify legislation that affects the city's mortgage foreclosure process.

D.C. Council had made fundamental changes to the city's mortgage foreclosure process last year by adding (among other things) a requirement that lenders and borrowers make an attempt to mediate their disputes.

After the parties concluded their attempt to mediate, the lender was then entitled to record a "mediation certificate" and proceed to a foreclosure sale and enforce its rights under the deed of trust.

However, the requirement mandated by the "Saving D.C. Homes from Foreclosure Act of 2010," which the Council passed in an attempt to keep pace with reforms made by Maryland and other states, raised concerns among lenders and title insurers.

The raft of changes to the D.C. mortgage foreclosure law and rules thereunder opened a Pandora's Box of loopholes that increased the risk of clouded title for any property sold at, or even after, a foreclosure sale.

The aim of the new rules is to clarify the legal effect of recording a mediation certificate and make an amendment to the wording in the certificate.

Lenders and their allies have been clamoring for a change to the rules to state that recording a mediation certificate is prima facie evidence - that means presumptive validity - of all the procedural steps taken prior recording.

This change would prevent a borrower who participated in mediation and loss prevention from raising any objection to the conduct of this process after the foreclosure sale.

An aggrieved borrower could still raise objections, file a lawsuit, or take any other action to contest the lender's conduct during the process.

It will still take some initial stumbling through the maze of new rules by both lenders and borrowers to work out the kinks in the new procedure.

Hopefully, the new requirements will give borrowers increased opportunity to modify loans, and if modification isn't realistic, it will give title insurers, lenders and purchasers confidence that their title will be undisturbed.

- Jack Reid

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Real estate round-up: September 29

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: New condo project gets moving in Mount Vernon Triangle DC Urban Turf The new project would be following in the footsteps of CityVista and Yale Lofts, condo developments built over the last decade that represented the changing face of the area. The risk of asking too much for your house Baltimore Sun It can seem counter-intuitive, especially to a seller who is trying to account for the possibility of lower offers from buyers by making the asking price 10 percent higher than he would actually take. But in a market where sale prices are dropping and lots of listings are jostling for attention, pricing too high really hurts sellers.�

National real estate news stories: Vetting the lender The New York Times Ferreting out good information is not that easy. For one thing, different kinds of lenders are held to different rules, licenses and disclosure requirements. Can mortgage servicing be saved from itself? Wall Street Journal Loan servicers have been forced to revamp their operations after revelations surfaced a year ago that they used so-called robo-signers who signed foreclosure documents without personally verifying their contents, possibly breaking state laws. Their efforts to foreclose on members of the military have also raised alarms. And many homeowners were not offered loan modifications despite being eligible for them.

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Real estate round-up: September 28

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Jair Lynch buys a block on H Street Washington City Paper It's just one of a bunch of big moves on H Street lately, with a deal for Murry's in the works, H Street Connection ready to go, and the Autozone site and 1350 Maryland spoken for. DC home prices show slight annual increase: Case Schiller DC Urban Turf The index reported that home prices in the DC area increased on both a monthly (+2.4%) and annual (+0.3%) basis. Where does the dirt go? Washington City Paper As long as construction keeps rolling, the D.C. dirt economy will do well. Why do women pay more for mortgages? National Association of Realtors Authors of a recent study offer another explanation suggesting that women pay higher rates because they are more likely to choose lenders by recommendation while men tend to search for the lowest rate.

National real estate news stories: Who wants to buy a new home? Wall Street Journal New homes are designed for the way Americans live today, maximizing the usability of space and offering amenities that speak to modern needs, such as big closets. Plus, new homes are built to be more energy efficient. How are mortgage rates determined? HSH.com If you are watching mortgage rates so you can lock in a loan at the best time, you will notice that rates tick up and down regularly. Here are a few of the factors that regularly influence mortgage rates. America's top cities: Cheapest real estate in the world? Creditsesame.com Even though many economists predict that prices may continue to fall, thus expressing a view that U.S. real estate is still overpriced, real estate in America's top cities is cheap when compared with the rest of the world.�

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What does a title company do?

In the wake of foreclosure problems stemming from improper documentation and representation, a title insurance policy has never been more valuable than it is right now in this current real estate market. �

Clients often ask: What exactly does a title company do?� And the easiest answer that I give them is, "Take a look at our website and view the videos."�

At Federal Title, we conduct an extensive search of public records to verify the seller's right to transfer ownership.� The purpose of all this research is to discover claims or defects (a.k.a. "clouds") that limit the owner's right in transferring the property.

Lenders require title insurance when the purchaser obtains a mortgage to finance the purchase; this type of insurance is often called a lender's title insurance policy to cover the bank's interest in your property and to safeguard first position as a lien holder on your property. �

At the time of closing an owner's title insurance policy is also issued which protects you as the purchaser at the closing. An owner's policy is your assurance of protection against economic loss if a title defect is ever discovered and a claim filed against your property. �

The insurance premiums are only collected once, and your coverage will remain consistent for as long as you or your heirs retain an interest in your property or until you refinance the property at which point a new policy is issued.

Without the protection of an owner's policy, you may be in jeopardy of losing your investment which stems from a cloud on title that does not appear in the public records such as:

• Forged legal instruments (deeds, mortgages, wills, releases of mortgages)
• Improperly recorded legal documents�
• False impersonation of the true property owner
• Undisclosed heirs
• Issues involving improper marital status�
• Documents executed under false powers of attorney
• Deeds drafted by persons lacking legal capacity
• Undisclosed spouses
• Issues of rightful possession of land; which arise when a foreclosed property owner claims that they did not receive proper notice of the foreclosure.�

In the event that a claim is filed against you as owner of your property, the title insurance will cover your legal expenses, court costs and related fees. If the claim against the property is valid, then the title insurance company will reimburse you for your loss up to the amount of the policy.�

At Federal Title our attorneys are diligent in reviewing all documentation in an effort to assist buyers with the often times unexpected yet frequent legal matters that arise during the purchase and sale of real property.� At Federal Title and Escrow there is always an attorney title agent on each transaction that is prepared to explain, negotiate and if needed, represent your legal interests in every transaction.

http://twlv.net/0ODLsf

What is title insurance?

As we have stated before, it's a great time to buy real estate.� However, due to the banking industry's foreclosure problems due to improper documentation and representation, title Insurance has never been more valuable than it is right now this current real estate market. �

Clients often ask: What exactly does a title company do?� And the easiest answer that I give them is "take a look at our Federal Title and Escrow website and view the videos."�

At Federal Title and Escrow, we conduct an extensive search of the Florida public records to verify the seller's right to transfer ownership of the Florida property.� The purpose of all this research is to discover claims or defects (a.k.a. "clouds") that limit the owner's right in transferring the property.

Lenders require title insurance when the purchaser obtains a mortgage to finance the purchase; this type of insurance is often called a Lender's Title Insurance Policy to cover the bank's interest in your property and to safeguard first position as a lien holder on your property. �

At the time of closing an Owner's Title Insurance Policy is also issued which protects you as the purchaser at the closing. An Owner's Policy is your assurance of protection against economic loss if a title defect is ever discovered and a claim filed against your property. �

The insurance premiums are only collected once, and your coverage will remain consistent for as long as you or your heirs retain an interest in your property or until you refinance the property at which point a new policy is issued.

Without the protection of an Owner's Policy, you may be in jeopardy of losing your investment which stems from a cloud on title that does not appear in the public records such as:

• Forged legal instruments (deeds, mortgages, wills, releases of mortgages)
• Improperly recorded legal documents�
• False impersonation of the true property owner
• Undisclosed heirs
• Issues involving improper marital status�
• Documents executed under false powers of attorney
• Deeds drafted by persons lacking legal capacity
• Undisclosed spouses
• Issues of rightful possession of land; which arise when a foreclosed property owner claims that they did not receive proper notice of the foreclosure.�

In the event that a claim is filed against you as owner of your property, the title insurance will cover your legal expenses, court costs and related fees. If the claim against the property is valid, then the title insurance company will reimburse you for your loss up to the amount of the policy.�

At Federal Title and Escrow our attorneys are diligent in reviewing all documentation in an effort to assist buyers with the often times unexpected yet frequent legal matters that arise during the purchase and sale of real property.� At Federal Title and Escrow there is always an attorney title agent on each transaction that is prepared to explain, negotiate and if needed, represent your legal interests in every transaction.

http://twlv.net/OVAXr6

Real estate round-up: September 27

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Are LeDroit Park and Bloomingdale DC's hottest rehab market? DC Urban Turf Over the past year, homes sold "as-is" which, in real estate parlance, means "what you see is what you get" are scooped up after a short window on the market, renovated from top to bottom (and in some cases enlarged) and back up for sale several months later. Is the new rate worth the refinance? Washington Times If making the higher payments does not affect other financial aspects of your life, it would make sense. If the higher payment would result in taking away from important investments, such as a college fund or a retirement account, you may not want to be in the position of a required 15-year payoff. Michelle Rhee sells at a slight loss Curbed DC The house in 16th Street Heights that Michelle Rhee had listed back in April sold at the end of August for less than she paid for it in 2007. She had paid $855,000 then, and the final sales price was $841,000. The Yards virtual tour DC Metrocentric Developer Forest City gives a sneak peak of the development with this great fly through of how all the projects will looks once complete, including the Yards Park, Foundry Lofts, Lumber Shed, and more.

National real estate news stories: Why rent when you can nest? The New York Times The children of baby boomers have inherited an expectation of early independence that in today's economy is hard to sustain, and many of them are moving back home � if, of course, their parents live in a place that holds the potential for jobs. Rate drop spurs home refinancing Wall Street Journal The 30-year fixed-rate mortgage dipped below 4%, possibly triggering a refinancing boom for many of the same borrowers who already have taken advantage of rock-bottom interest rates.

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Real estate round-up: September 26

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: What happened to the proposed 20-percent down payment rule? Washington Post The 20-percent proposal is still alive, but it's temporarily bogged down in agency reviews of the roughly 12,000 comments filed by interest groups and individuals. It almost certainly would not be ready for adoption until the first quarter of 2012. Historic celebrity homes attract tourists Voice of America Elvis Presley's Graceland and George Washington's Mount Vernon are two of the most popular, but there are also small houses devoted to preserving the memories of the celebrities who once lived there.� In spots, buyers gain edge again Washington Times Sales chances are calculated by dividing a month's sales figures by the inventory on the last day of the month, resulting in a percentage. A figure below 20 percent indicates a buyer's market. Higher figures mean we're in a balanced market or a seller's market.

National real estate news stories: 5 steps to creating a property website with Wordpress Inman News The ability to create a unique property website is not only a fantastic listing tool, but an effective way to compete in search with national syndication sites, including Trulia and Zillow. Quick refi may ding credit Bankrate.com You can comparison shop mortgage lenders in a relatively short (two weeks) time period, and that will only count as one inquiry on your credit score because it's clear you're shopping for a mortgage. Don't drive yourself crazy, consider the commute HSH.com When you buy a home, you buy neighbors, amenities, a lifestyle…and a commute. If you're about to commit to a home purchase, apply the brakes until you understand the implications of the home's location, location, location.

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Real estate round-up: September 23

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Caveats for helping children buy a house Washington Times Some parents are opting to help their adult children get into the real estate market by giving them cash for a down payment, co-signing a home loan or arranging a rent-to-own scenario. Homeowners guide to confusing crime statistics Sun Gazette Numbers are only an indication of the past. It's still important to be proactive instead of reactive. A home security system can help protect your home and family during this period of uncertainty and into the future.

National real estate news stories: Buying a home safer investment than gold Inman News Among current homeowners, 80 percent said they plan to buy another home in the future and 57 percent said owning a home is among the best long-term investments they could make. Mortgage rates at their lowest rate in 60 years ABC News But as anyone who has ever purchased a home knows, there is much more to consider when thinking of the bottom line on a home purchase or refinance. But if you shop around and check old documents, you could shaving hundreds of dollars off closing expenses. Property prices near coast holding up better Miami Herald In Florida, the coastal market had 5,101 existing home sales in the first quarter, the highest total in five years. But a large number of distressed sales dragged average prices down 14 percent. Among non-distressed properties, prices went up 0.4 percent.

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Property tax reassessments in Maryland

One of the most frequent requests at closing is how often does the State of Maryland assess property values for tax purposes.� In Maryland, properties are reassessed every three years.� The State of Maryland provides a detailed explanation of the workings of the tax process on its website.

Also available are reassessment maps for every county in Maryland, which allow you to view when reassessments will take place. �

Below is the current map for Montgomery County, Maryland:

Area 1	Assessment Area 1 will be reassessed for January 1, 2013
Area 2	Assessment Area 2 will be reassessed for January 1, 2014
Area 3	Assessment Area 3 will be reassessed for January 1, 2012

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Real estate round-up: September 22

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Close quickly and get better mortgage rates HSH.com Once your loan is approved, you'll need to schedule your closing. It can often be more difficult to get a slot with a settlement agent at the end of the month, so be as flexible with your time as possible. Refinancing? Inquire about the 'Reissue Rate" ABC News Conventional wisdom is that it takes somewhere in the 5 to 7 year range to recoup the point that you would pay upfront on a loan, which is good for buyers to keep in mind when they are envisioning how long they will live in the property they are purchasing. Existing home sales rise Washington Post The NAR's chief economist Lawrence Yun said in a statement that rising rents, low mortgage rates and increased investor interest in gobbling up foreclosed properties may account for the uptick.

National real estate news stories: So what could go wrong? St. Augustine Record Home ownership should be hassle free, but when it comes to real estate, there's a lot at stake.� Title insurance covers the hidden risk that goes along with home ownership. � Higher mortgage rate fees proposed Bankrate.com A deficit-reduction package released Monday proposed that Fannie Mae and Freddie Mac increase fees by one-tenth of one percent for new, guaranteed mortgages. Rates could be set higher than that in areas where there is more risk of foreclosure. Title fees hard to swallow when refinancing a mortgage Los Angeles Times Home buyers and refinancers should shop around when it comes to title insurance. Rates charged by each company can vary by hundreds of dollars.

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Real estate round-up: September 21

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Time to refinance ... again? Washington Post For starters, figure out what your monthly payment would be at the new rate. Compare it with what you're paying now and decide whether the savings � if any � will offset the cost of refinancing the loan. Points and low interest rates: A primer DC Urban Turf Conventional wisdom is that it takes somewhere in the 5 to 7 year range to recoup the point that you would pay upfront on a loan, which is good for buyers to keep in mind when they are envisioning how long they will live in the property they are purchasing. Charting the market: Prices lift in Northern Virginia Washington Times Median sales prices in Alexandria, Arlington and the District are back up to where they were in 2005 - the year sales started to decline.

National real estate news stories: The Academy Award for best real estate video goes to... Inman News A real estate agent in Los Angeles produced a "movie short" about a Hollywood Hills listing, marketing it as a sizzling Hollywood Hills bachelor's home and reeled in (pardon the pun) a buyer in less than 30 days.� Is it possible to build a house for $1,000? Wall Street Journal The prototype house boasts a modular layout with hollow brick walls with steel bars for reinforcement and wooden box beams. It is designed to withstand a magnitude 8.0 earthquake. The buddy system, or the buyer's broker The New York Times So why should a buyer bother using an agent? In a nutshell: to protect his or her interests in an expensive, often complex purchase.

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Independent agencies reject affiliated business arrangements: Washington Post

Over the weekend, the Washington Post Real Estate Section published an article by nationally syndicated columnist Ken Harney describing a sea change in the title insurance industry where transparency and honest rates are becoming more commonplace.

Toward the bottom of the story was a nice mention of Federal Title and our REAL Credit program as shining, local example of a title company rejecting the old practices of the title insurance industry in favor of a business model that benefits consumers.

Needless to say our office was pretty thrilled.

We believe consumers should know they have the right to choose their title company based on factors such as price, customer service, years in business, responsiveness and reliability.

We encourage homebuyers to shop for title services and offer them a breadth of information on our Web site to help them make the decision that is best for their situation. For years we've published our rates on our Web site and offered homebuyers and their agents a free online closing costs calculator to help them gauge how much money will be needed for settlement.

If Harney's article is any indication of the future of the title insurance industry, then it seems Federal Title's business model is finally becoming the norm instead of the brow-raising exception to the rule.

And the rest of the pack is following suit, as Harney writes: "A handful of agents in states where regulations permit discounts off closing-packages are now offering them. Plus growing numbers of title agencies are gearing up software platforms to provide services to consumers: online rate quotes, transaction updates �notifying customers about the status of their title order. Some are even e-mailing documents in advance of closings for customers' inspection, rather than hitting buyers with last-minute settlement surprises."

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Why condo owners need an HO-6 policy

Last week we posted a pretty lengthy article about insurance for condo owners entitled, "Condo insurance considerations."

The piece delved into the differences between a Master Policy, which is what your condo association carries to protect the building and its common elements, and the Unit-Owner Policy otherwise known as an HO-6 policy. An HO-6 policy picks up where a Master Policy leaves off, protecting the inside of the unit as well as the owner's personal belongings. Items like replacing cabinets, appliances and flooring are also covered by the Unit-Owner Policy.

Earlier this month, our friend Michele Lerner who has written about Federal Title on many occasions, published a piece with the Washington Times entitled, "Insurance a must-have for condo owners." Her piece does an excellent job of expanding on the types of scenarios a condo owner might encounter where the HO-6 policy would come into play. �

"Condo owners need to understand that the master policy for the condo association often covers the buildings to reconstruct them as they were built originally and will not cover improvements, such as updated kitchens or hardwood flooring, that have been added to a home."

http://twlv.net/TsM2TP

Real estate round-up: September 20

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: New refinancing options for lower title fees Washington Post In the Washington area, Federal Title & Escrow provides as much as to $1,100 off total closing costs for home buyers who use its online "Real Credit" software platform for their transactions. Insurance a must-have for condo owners Washington Times Homeowners need to make an estimate themselves of how much it would cost to replace all their clothing and personal items in case of a total loss because of a fire or some other disaster.

National real estate news stories: Top 10 home improvements that pay you back AOL Real Estate It's a buyer's market, and between tighter purse strings and plenty of properties to choose from, shoppers want homes that are move-in ready and free of the need for home improvement projects that will add to their own bottom lines. There's more to refinancing than low rates Bankrate.com Closing costs are critical to the decision, and you typically don't know the exact closing costs until the day before closing. You have to decide if it's worth chasing these lower rates. The newest threat to home prices CNN Money On Oct. 1, higher limits are slated to drop back down again in expensive markets nationwide � ranging anywhere from $483,000 in counties like Monterey, Calif., to $625,500 in cities like New York and Washington. Saving on mortgage taxes The New York Times It's important to inquire about a mortgage assignment at the very beginning of the refinancing process, mortgage experts say, because locating and transferring all the necessary paperwork could be time-consuming.

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Real estate round-up: Septmeber 19

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Washington economy grows 3.6 percent Washington Business Journal Washington also ranks as the third-fastest growing metropolitan economy, behind Boston's 4.8 percent growth in 2010 and New York City's 4.7 percent growth. Local resources offer to help BRAC families Washington Examiner Thousands of BRAC families are moving to the Washington area, with communities near Fort Belvoir, Fort Meade and the Mark Center area of Alexandria expecting the biggest impact. Mortgage Q&A: Deciphering the Adjustable Rate Mortgage Washington Times Because rates are so low right now, ARMs are, indeed, adjusting downward. But the APR on an ARM is meaningless because we know rates won't remain unchanged.

National real estate news stories: Decoding the wide variations in house appraisals The New York Times Owners, the experts said, should provide comparable listings, walk appraisers through the house, and point out improvements and unique features. Mortgage rates drop to another record low Bankrate.com The benchmark 30-year fixed-rate mortgage fell 3 basis points this week to 4.32 percent, the lowest level the fixed rate has reached since Bankrate started the weekly mortgage survey nearly 26 years ago. Buying and selling homes in hard times: Stuck in Miami Wall Street Journal Home prices in Miami have fallen by more than half, according to the S&P/Case-Shiller 20-city composite index, to levels not seen since 2003.

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Real estate round-up: Septmeber 16

Check in every business day for the latest edition of Real Estate Round-up, where we post a list of our favorite real estate news stories from DC and beyond.

Headlines from the DC Metro Area: Agents embrace social media Washington Times Approximately 84 percent of agents use social media in some form, according to November statistics from the National Association of Realtors. Young homeowners zero in on region's urban areas Washington Examiner The shift is a product of changing population trends�� including the rise of the city during the last decade�� and the housing crisis that left many potential homeowners gun-shy. Is green good for home resale value? Washington Post "The case needs to be made [to lenders] that, hey, these [highly efficient] houses will cost less to operate, so they should be worth more."

National real estate news stories: Straightening out a wrong property line Chicago Tribune The title insurance policy is the document issued by the closing agent or title company that guarantees your ownership to the land When real estate agents make referrals The New York Times Called the Real Estate Settlement Procedures Act, or RESPA, the law also requires disclosures of affiliated or shared ownership businesses and a good-faith estimate on closing costs. More home sellers paying full real estate commissions Sun Sentinel Agents also have to help arrange financing and title insurance to keep the sales moving toward the closing table.

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6 real estate headlines: 15-September

A daily dose of headlines for real estate agents, mortgage lenders, homebuyers and home sellers.

Homeowners: Beware of post-Irene scams HSH.com: No matter if your home was affected by Hurricane Irene or any other natural disaster, a call to your insurance company should be the first call you make.	To protect real estate assets be prepared Washington Post: Couples who own real estate before marriage may take advantage of a particular form of title known as "tenancy by the entirety."
Do you have to escrow for taxes? Washington Post: If you are buying a home in the District and putting down 20 percent or more, you have the right to pay your own real estate taxes and insurance.	Six steps that could boost refinancing Wall Street Journal: Demand for new loans or refinancing remains muted, underscoring reasons why policy makers at the White House and Federal Reserve are thinking about new ways to help more homeowners refinance.
Jumbo loans make a come-back in metro market Washington Examiner: Jumbo loans in the $1 million to $3 million range, with interest rates between 4.25 percent and 4.75 percent, are available to buyers with credit scores of at least 740.	What $1.2M buys you in DC DC Urban Turf: The second most-expensive home on the DC market is listed at $12 million. Here's a look of some other million dollar homes.

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