Real estate round-up: October 13

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: Mortgage interest deduction hangs on, but how long? Washington Examiner Opposition from real estate organizations to reducing or eliminating the deduction remains strong in the face of a fragile housing market and a weak economy. White House puts O Street Market on fast track Washington City Paper Of the 14 projects nationwide that "will be expedited through permitting and environmental review processes," the District's own City Market at O Street (former home to a crumbling Giant supermarket) will be one. New EYA condos to be built in Alexandria office building DC Urban Turf Potential buyers of the building initially felt that it could accommodate 100-150 residential units, but that number has been pared down, and the final product will likely be somewhere in the 50-75 condos with large floorplans.

National real estate news stories: 10 tips for high value home appraisals Wall Street Journal Lowball appraisals can kill deals. They can also kill a refinancing application. If it comes in too low, it's not worth refinancing or you might need to put in a whole lot more equity. Mortgage lenders to get more insight into borrower pasts Inman News Mortgage lenders will soon have access to new details about a prospective borrower's past -- such as past rental applications, inquiries to pay-day lenders, and missed child support payments -- that will be factored in to a new credit score.

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Real estate round-up: October 12

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: Appraisal guidelines now available for energy-saving home repairs Washington Post The Appraisal Institute, the country's largest and most influential association in its field, published the long-awaited addendum Sept. 29. It's designed to be attached to any standard appraisal report covering a property with significant green features. Window-filled contemporary in Alexandria Washington Times The home at 2200 Shiver Drive in Randall Estates, designed and built in 1966 by Jerome Lindsey, an architect from Howard University, includes elements of Bauhaus and Frank Lloyd Wright's architectural styles. Best new listings: Mount Pleasant Logan Circle and Dupont Circle DC Urban Turf This week's edition of Best New Listings looks at a Mount Pleasant two-bedroom with no set condo fees, a 3,500 square-foot four-bedroom townhouse in Logan Circle, and a three-bedroom penthouse just south of Dupont Circle.

National real estate news stories: Supreme Court to consider mortgage fees lawsuit Wall Street Journal At issue is how to interpret the Real Estate Settlement Procedures Act, a 1974 law that sought to address abuses in the mortgage industry by prohibiting kickbacks or referral fees in connection with the settlement process. Just get a title search? St. Augustine Record A title search is part of the risk assessment the title insurance company does before issuing the policy. The title company does not want to have to pay out that policy; therefore, it has a vested interest to find any and all complications to the ownership title. Condo buyer frustrated by seller's road blocks Sun Sentinel Casual real estate observers figure the South Florida housing market is flush with homes for sale and that anxious sellers are begging for any offers. But that's not the case these days as the region's housing climate steadily improves.

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Real estate round-up: October 11

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: Condos: Still a good investment? Washington Post If a building isn't FHA-approved, private lenders may require buyers to put 20 percent of the sale price down � a difficult financial hurdle for many first-time buyers. Washington putting foreclosure trouble in rear view mirror Washington Times Foreclosures are not playing a significant role in the District market but they do attract investors and multiple bids. Sometimes new housing is old housing Washington City Paper A 407-unit complex, though, currently sits half empty�a waste of good living space. It's a great sign, then, that W.C. Smith bought the lot for $12.525 million in early September.

National real estate news stories: Triggers for mortgage rejection The New York Times Lenders' underwriting criteria have become more rigorous in recent years; some banks have tightened up beyond federal requirements. Here are the six biggest triggers for rejection, according to industry experts. Should a first-time homebuyer be a land lord? Wall Street Journal Unless you buy a fixer upper at a discount, rehab it and resell it quickly, the only way to make money in real estate is to hold on to a property until it appreciates.

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Real estate round-up: October 10

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 $500,000 buys in DC Area real estate Washington Post To gauge the region's real estate market, we set out to find out what you can buy today for $500,000 � from downtown Washington to farm country in Loudoun County. Builders ratchet up buyer incentives Washington Times Most builders include closing-cost assistance in varying amounts as part of their sales package, acknowledging that most buyers need and want cash to help them become homeowners or to ease a move-up transition. Savvy Realtors use social media to connect with buyers & sellers Washington Examiner Facebook, Twitter, YouTube and other social media have become significant new communications channels that would-be homebuyers need to tap and potential home sellers need to evaluate. How to buy, renovate, rent and occupy a home in under six months DC Urban Turf After living in a Mount Pleasant group house for about a year, economist Adrian Dungan decided that, if done right, he could own and live in a home and also rent it out.�

National real estate news stories: Sorting through lending costs The New York Times Plenty of people have ideas about what you should be told when you're shopping for a mortgage, but for now, that may not be much help. What's the future of the mortgage interest deduction? Wall Street Journal Despite its popularity among real estate agents, builders and homeowners, talk is building on Capitol Hill and in policy circles of scaling back or eliminating the mortgage-interest tax deduction.

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Tips for securing a home loan

This week the 30-year mortgage rate sunk below 4% for the first time ever, yet mortgage applications continue to drop, according to a recent article in the Wall Street Journal.

Despite the attractive rate, lending standards remain tight, making� it difficult for many would-be homebuyers and refinancing borrowers to secure funding. While it is harder now to land a loan than it was five years ago, it's not impossible.

Here are a few tips to help prospective homebuyers and borrowers secure a home loan.

Get your finances in order

Before you can ask for a loan, you should know how much money you have and how much you can afford to borrow. Knowing this up front will also save you the potential heartache of getting attached to a home you can't afford. It'll save you, your lender and your agent a lot of time, too.

You are entitled to a free copy of your credit report from each of the three major credit rating agencies once a year.� Make a habit of getting it. Each report shows if you were more than 30 days late in making a payment on any of your existing loans or bills and lists inquiries made into your credit. If you come across any discrepancies, you'll want to inquire about them before you start shopping for a loan.

You'll also want to gather your most recent pay stubs, bank statements and tax forms. Any reputable lender you work with will need this information to determine if you qualify for a loan.

Limit credit inquiries while you shop for a loan

It may sound crazy, but shopping for a loan actually does ding your credit score by a couple points. So does applying for a new credit card or taking on new debt. Since your credit score helps to determine your interest rate, try to limit your number credit inquiries. Don't open any new lines of credit or make any large purchases until after the deal is closed.

Most experts will tell you to do all your mortgage loan shopping within a two-week span, as that will show up as one inquiry.

Save for a large down payment

The more money you can put into the transaction, the better your chances of securing a home loan. For FHA loans, you'll need at least 3.5%, though FHA loans come with more restrictions.

A 30-year conventional loan typically requires 20% down, but some lenders will make an exception depending on the property type and your financial situation. Note, though, that anytime you put down less than 20%, you'll have to pay for insurance on the loan, which means added monthly expense.

As the housing crisis continues, watch out for special offers from lenders. A recent article in Smart Money describes how many financial institutions, from national banks to local credit unions, are looking for ways to entice consumers to sign up for mortgages. �

If low home prices aren't enough, some banks are waiving lender fees, lowering rates and offering to pay closing costs. You may be able to leverage a large down payment and a lender discount in your favor.

With basic understanding of today's housing market, securing a home loan is not impossible. Be prepared by getting your financial house in order, and you'll be able to take advantage of record-low mortgage rates and home prices.

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Real estate round-up: October 7

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: First glimpse inside units of 1020 Monroe DC Curbed This is a 28-unit building, with one and two bedrooms, at the corner of 11th and Monroe NW. Prices start at $299,900 for one bedrooms and $399,900 for two bedrooms. Huge Adams Morgan loft back on the market DC Urban Turf The larger of two massive units in a former car dealership located in the heart of Adams Morgan, the three-floor industrial space has a number of aspects that one would expect to find in a real loft � 14-foot ceilings, a private deck on the second floor (plus a larger deck on the roof), and a living area big enough to host a party for a few hundred people. Your next place: Townhouse-style condo DC Mud This is not a Prius of condos � more like a Bentley. The epic living room has a 20-foot-plus vaulted ceiling and massive floor-to-ceiling windows, and there are two (!) floating staircases leading to the upper two levels.

National real estate news stories: Redfin pulls agent scouting reports Inman News Holes in the data -- often created when agents work informally in teams, or don't inform the MLS when an out-of-town agent represented a buyer in a deal -- meant that consumers weren't always getting the complete deal history and performance metrics for every real estate agent. Mortgage rates fall below 4% Wall Street Journal Many borrowers can't refinance today because they don't have enough equity or they can't qualify under lending standards that are far tougher than when they initially obtained their mortgages. New discounts for mortgage borrowers Smart Money From large banks to credit unions, a growing number of lenders are waiving fees, lowering rates and finding new ways to cut loan prices for would-be home buyers and refinancers.�

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How to stay optimistic in a down market

Investments are never a sure thing, no matter what type of investments you're talking about. When it comes to the stock market, common belief dictates that the higher the risk, the higher the potential for profit. In a down economy, however, it can be a little daunting to take risks with your money. Even in real estate investing, which is often considered safer than the stock market, investors may be nervous about tying their money up during a down market.

Real estate investors may have a little more security than stock market investors but when the economy is in a slump, no one feels secure taking risks with their hard earned cash. Sometimes it is best to keep investing even when things look grim and other times it is necessary to change with the times. Staying optimistic in hard times can be a challenge.

As previously stated, real estate investors have it a little easier as far as staying optimistic, even in a bad economy. Why? Because people will always need housing. The demand for a house to live in will never go away! Even if the prices fall for a short period, it's highly unlikely that the housing market will "crash" like the stock market.

While it won't "crash," the housing market will fluctuate; property prices rise and fall, based on how the economy is. As a result, property investors should keep a close eye on current market trends. Knowing whether to rent or flip a property is often as simple as knowing the current market.

If jobs are scarce and layoffs are rampant, home sales may drastically slow down. This doesn't mean that investors should stop their investing activities, however. It just means that their strategy needs to change. This is one reason why it's so important to know the market; if homes aren't selling, it's not a good time to try to renovate a large amount of homes and sell them.

In a selling slump, homes should be renovated and rented out, rather than sold. This may not create a large lump sum profit, but it will generate a nice steady residual monthly income. Being optimistic in a down market is easy; just remember that in the housing industry, there is no such thing as a "down market." It's an ever changing market, for sure, but there will always be a need for housing.

About the author
Jennifer Hill and the agents at Realnet of Tampa Bay are experts at finding the best investment property for sale. Don't fall for the trap of buying cheap houses for sale without researching a property thoroughly.

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Real estate round-up: October 6

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: Council Member Cheh introduces Condominium Act of 2011 DC City Council The bill would increase transparency in condominium association board operations, permit condominium associations to deliver notice to members and conduct votes electronically, and require the associations to maintain financial records and provide owners a right of copying and inspection of the association's books and records. What $550,000 buys you in the DC Area DC Urban Turf An early 20th century row home in Shaw, a 2-bedroom condo in Georgetown or a single-family home with a pond in the back yard, here's a quick overview of homes available in this price point in the DC area. Historic Dupont mansion to be sold at auction DC Mud A historic, 128-year-old mansion, home of the Swann House Bed & Breakfast, located north of Dupont Circle at 1808 New Hampshire Ave, NW, and built in 1883, will be sold at auction next Friday.

National real estate news stories: Talking money with Elmo (VIDEO) The New York Times In the wake of the financial crisis, "Sesame Street" is teaching children financial literacy. Ron Lieber talks to Elmo about saving and sharing. Unwanted McMansions? Make them affordable housing Wall Street Journal Such homes can have more bathrooms than bedrooms, allowing for residential space that could be divided into private units, with a common kitchen and living room. Some already have or could be outfitted with second or third kitchens.

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Real estate round-up: October 5

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: Million dollar house is a good deal in Potomac, MD Curbed DC Rarely does a price this high turn out to be a good deal, but in this situation it is. The house has five bedrooms, five baths, a heated outdoor pool, and sits on 1.3 acres of land. The listing description does say 'priced to sell' and in this case they actually mean it. Learn the rules of Fannie Mae before buying from the agency Washington Post Looking to buy a home from Fannie Mae? You'd better hurry. According to its most recent SEC filing, only 135,719 single-family properties were in Fannie Mae's inventory at the end of June. Fannie Mae, which ended up with hundreds of thousands of homes as residents struggled to keep up with their mortgages in recent years, is looking to sell them with incentives for buyers.

National real estate news stories: The right way to shop for a mortgage HSH.com With mortgage rates at all-time lows, U.S. homeowners are refinancing in droves. If you're among them, you already know that it's important to comparison shop; you shouldn't just work with the first lender you meet. But do you know how to comparison shop, whether it's for a conventional loan, FHA mortgage or otherwise? 5 housing trends in fall 2011 Bankrate.com If you want to buy a home and you qualify for a mortgage, this is your time. With mortgage rates at historically low levels, falling home prices and plenty of distressed properties for sale, buyers will be able to find once-in-a-lifetime opportunities this fall. Big banks stand to lose millions if FHA seeks indemnification Housing Wire FBR Capital said such a scenario would be the equivalent of another shoe dropping on the housing economy, but for now it's a headline risk as opposed to an immediate capital concern.

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Real estate round-up: October 4

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: Prices climbing in last areas to improve Washington Times Secure federal jobs and contracting work, along with a big technology sector, have made the entire Washington region a much more prosperous place to work and live than other metropolitan areas. That means people can afford to buy homes, which props up home values. 6 questions on lower loan limits Wall Street Journal Many people in Washington, including the Obama administration and congressional Republicans, support letting the limits fall in order to modestly shrink the government's role in the housing market. In essence, these high-cost communities will serve as a "pilot" for what happens when the government takes a toe out of the mortgage market.

National real estate news stories: 5 real estate time management myths debunked Inman News Would you like to manage your time more effectively? If so, the first step is to dump five common time management myths that can undermine both your business and your personal life. Title insurance protects against errors NH Avenues magazine An owner's policy of title insurance is a contract that protects you, according to the contract terms, against loss or damage due to title defects. Will baby boomers rock the housing market? AOL Real Estate As first-time buyers struggle with higher hurdles at the bank, some experts are pinning their hopes on baby boomers to boost the flagging housing market. Miami Heat's Alonzo Mourning lists his Coral Gables home Wall Street Journal The 13,000-square-foot house overlooks the water and has eight bedrooms and 8� bathrooms. There's also a library, a gym and a four-car garage. Outside there's a kitchen and dining area and an infinity pool.�

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Simplifying homebuyer closing costs in Maryland

How much will I need for closing costs? You hear this question from your homebuyers a lot, right?

Below I have provided a quick reference for calculating closing costs in Maryland. With the exception of lender origination charges or discount points, the factors include all closing costs such as settlement fees, owner's and lender's title insurance, and transfer/recordation taxes (assuming a 50/50 split between buyer and seller).

This will provide a close estimate if you are on the go without online access to exact closing costs using Federal Title's Quick Quote tool.

Montgomery County, MD

To use this chart, multiply your purchase price by the appropriate closing costs factor. (Example: For a $375,000 purchase in Montgomery County by a First-time homebuyer, expressed as $375,000 x 0.0155 = $5,812.50)

Purchase Price � in $1,000s	Closing Costs Factor Repeat Buyer	Closing Costs Factor First-time Homebuyer	Estimated Closing Costs
$100-199	0.0209	0.0184	�
$200-299	0.0191	0.0166	�
$300-399	0.0180	0.0155	�
$400-499	0.0174	0.0149	�
$500-599	0.0172	0.0147	�
$600-699	0.0170	0.0145	�
$700-799	0.0169	0.0144	�
$800-899	0.0168	0.0143	�
$900-999	0.0167	0.0142	�
$1.000-1.099	0.0166	0.0141	�
$1.100-1.199	0.0165	0.0140	�
$1.200-1.299	0.0164	0.0139	�
$1.300-1.399	0.0164	0.0139	�
$1.400-1.499	0.0163	0.0138	�

Prince George's County, MD

To use this chart, multiply your purchase price by the appropriate closing costs factor. (Example: For a $375,000 purchase in Prince George's County by a First-time homebuyer, expressed as $375,000 x 0.0170 = $6,375.00)

Purchase Price � in $1,000s	Closing Costs Factor Repeat Buyer	Closing Costs Factor First-time Homebuyer	Estimated Closing Costs
$100-199	0.0228	0.0203	�
$200-299	0.0207	0.0182	�
$300-399	0.0195	0.0170	�
$400-499	0.0188	0.0163	�
$500-599	0.0183	0.0158	�
$600-699	0.0177	0.0154	�
$700-799	0.0176	0.0151	�
$800-899	0.0173	0.0148	�
$900-999	0.0171	0.0146	�
$1.000-1.099	0.0169	0.0145	�
$1.100-1.199	0.0168	0.0143	�
$1.200-1.299	0.0166	0.0142	�
$1.300-1.399	0.0165	0.0140	�
$1.400-1.499	0.0164	0.0139	�

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Real estate round-up: October 3

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: Parts of area housing market nearing pre-recession levels Washington Examiner The strongest signs of growth are in the region's inner core of the District, Arlington County and Alexandria. In particular, the District's median price in August was nearly 90 percent of its November 2005 high. Grand opening: Old Town Commons DC Urban Turf The 44-unit boutique building will have one-bedroom, one-with-den and two-bedroom units, all of which will include garage parking with lockable storage areas.� Small time real estate developer has big dreams Washington Post For decades, Buzzard Point has been the Washington waterfront's next big thing. From The Post, October 1989: Buzzard Point is "the blighted neighborhood south of the Capitol that is now being touted in the real estate trade as the Tysons Corner of the 21st century." A little architectural knowledge can go a long way for homeowners Washington Post When real estate agents list a property with the multiple listing service, they have complete discretion over how to categorize the architectural style of the house. Sometimes they get it wrong. Official records occasionally get it wrong as well. And often, homeowners themselves aren't even sure.

National real estate news stories: Exploring the 15-year loan The New York Times Fifteen-year mortgage rates certainly look enticing these days, and the idea of owning a home, debt-free, in less time than it takes to raise a child, sounds grand. So what's the catch? South Florida property values show modest decline Miami Herald Recent figures showed a slowdown in the three-year freefall of property values, with modest countywide declines of 2.8 percent in Miami-Dade County and 1.6 percent in Broward County, according to property appraisers.

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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.

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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.

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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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