The current market shifts and media buzz have most buyers speculating on whether or not it is a good time to buy. A recent article printed in the DC North illustrates the economics of investing in a home through the following example: DC home prices have increased 6% per year on average over the past 25 years. While you should expect slower price growth for the next few years, even if home prices increase at only 4% a year for the next 10 years, a purchase today for $250,000 with a $7,500 investment (3% of the price) would produce a $120,000 increase in price and $192,000 in total equity when you include the monthly principal pay down on the loan. How else can you turn $7,500 plus principal and interest payments into $192,000 over 10 years?  This example shows that despite market fluctuations, longer term real estate investments remain incredibly strong.  With rents on the rise and interest rates at historic lows, we’re confident that now is a great time to buy in our DC market.CONTACT US FOR A BUYER CONSULTATION!

Bank of America is running a special on Jumbo rates through the end of November.  Current rates as of today are as follows: 

Jumbo 30 Year fixed rates are at 6.375% with 0 points. 

Conventional 30 Year fixed rates are at 6.00% with 0 points. 

Second mortgage rates have gotten better too!   

10% second is at 7.125% with 0 points (80-10-10)15% second is 8.125% with 0 points. (80-15-5) 

For more information you may contact:

Greg Kingsbury301.254.1486
gregory.b.kingsbury@bankofamerica.com