Headlines: Consumers don't shop for mortgage, title services enough

Here's a look at what's happening in real estate in the District of Columbia and beyond. 

Why DC's housing inventory shortage will continue 'for the foreseeable future'

A recent uptick in the number of homes on the market hasn’t been enough to balance an inventory shortage in the DC metro, and low inventory will likely continue to be a theme through the year. -Urban Turf

How to negotiate closing costs on a newly constructed home

Today, many builders offer incentives to the buyer in the form of either upgrades to the house or credits given at settlement that help reduce the closing costs. -Washington Post

How much for a Georgetown condo under 440 square feet?

This zero-bedroom condo thinks a lot of itself, and it should with how well it's able to transform a potentially cramped abode into a well-lit, well-furnished space. -Curbed DC

JBG acquires majority of Akridge's Half Street project by Nationals Park

DC developer Akridge has sold the majority of its Half Street parcel across from Nationals Park to The JBG Cos., which is expected to redevelop the site with two new residential buildings and a large amount of what one executive called "dramatic" retail. -Washington Business Journal

Study shows consumers spend too little time mortgage shopping

According to a recent report by the Consumer Financial Protection Bureau (CFPB) in conjunction with the Federal Housing Finance Agency, a significant number of consumers may not be shopping enough to ensure they are receiving the mortgage that best fits their circumstances. -Washington Post

Equity One unveils Westbard development plans

The condo building proposed for the Manor Care site would have 75-foot heights facing River Road, but rise 50 feet in the back to better fit in with the single-family homes in the neighborhood. The company is planning about 250 units for the two buildings. -Bethesda Magazine

Headlines: Title problems can snag your closing; pre-printed real estate contracts can get you fined

Here's a look at what's happening in real estate in and around the District of Columbia.

Title problems can snag your closing

The unexpected unreleased mortgage lien rears its ugly head all too often, according to those of us charged with shepherding consumers through the last stages of home buying. -Washington Post

Pre-printed real estate contracts could get you fined

It’s a seemingly innocuous practice, some say a convenience, but many real estate agents are steering their brokerages toward enormous fines and unwanted attention from state and federal regulators — and they don’t even realize it. -Inman News

Dying to see the luxury condos on 14th Street built on the site of a funeral home?

In addition to having been developed on the site of a former funeral home, Lionshead has the distinction of being the first new building to pass the District's Green Area Ratio inspection. -Washington Business Journal

Best architectural addition of the year for 2014

The home is essentially a series of glass cubes set onto a hilltop in Rappahannock County, Virginia with views of the Blue Ridge Mountains. -Urban Scrawl

A different kind of pop-up

The homes are meant for one occupant, and have a kitchen, bathroom, living room, a separate bedroom and a front door with an outside patio. The one thing that the homes need: a vacant plot of land to sit on. -Urban Turf

The cost of living everywhere in the world in one index

This is an infographic on the cost of living all around the world. When you look at the data, presented in this way, the results are a bit staggering. -Business Insider

Close It!™ House of the Week: Sunny 1 Bedroom in Adams Morgan

This week we venture over to Adams Morgan, recently named one of the country's Top 10 neighborhoods, to check out a beautifully renovated 1-bedroom condo with fireplace. It's listed at $379,000.

The unit is located in an historic, full service building and features 10-foot ceilings as well as a renovated kitchen with stainless steel appliances and vintage hardwood floors. It's just steps away to the bustling 18th street corridor where plenty of restaurants and quirky shops await. 

Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $89,213.17. Monthly payments with carrying charges would then be around $2,209.01 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.

Close It!™ House of the Week: Beautiful blend of row home, condo living

This week we're going across town to check out a top-unit condo unit situated west of RFK Stadium and just a block or so from Lincoln Park in Capitol Hill East. It's listed at $475,000.

It's a 2 bedroom / 2 bathroom condo with private deck and two off-street parking spots. Plenty of sunlight streams in from three exposures. All together, it's about 1,100 square feet and just steps from Eastern Market, H Street, Barrack's Row and Capitol Hill. 

Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $109,485.10. Monthly payments with carrying charges would then be around $2,253.33 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.

Headlines: The case of the incredibly shrinking first-time homebuyer demographic

Here's a look at what's happening in real estate in the District of Columbia and beyond.

First-time homebuyers hit lowest level in nearly 30 years

The U.S. economy is improving, employment is growing and home prices are recovering, but first-time homebuyers are not returning to their normal, historical levels of homeownership.  CNBC

Where have all the first-time homebuyers gone?

"Rising rents and repaying student loan debt makes saving for a down payment more difficult, especially for young adults who've experienced limited job prospects and flat wage growth since entering the work force," says NAR's chief economist.  Washington Business Journal

1,700 residential units coming to Bethesda

Of the residential units in the pipeline in Bethesda, roughly 400 of then are condos. Additional apartments and retail space are also on the horizon.  Urban Turf

Congruency in design can sustain home's value

Consistency doesn't mean that every room should have the same finishes or materials.  Rather, it means that there should be a general congruency throughout the home.  Washington Post

How I stopped being a victim after I was attacked

If I were to give any advice to anyone in our community of REALTORS®, it would be to listen to your gut more. We’re all so eager to get the next deal; we’re not listening. Even as our gut is screaming, we think it won’t be us. — Realtor Magazine

Survey confirms yard signs, open houses taking back seat to mobile

After rising from 8 percent to 40 percent from 2001 through 2011, the percentage of buyers who found their homes on the Internet has remained steady at 43 percent for two years in a row. — Inman News

  • Ways to save at closing

    Title charges are the largest chunk of closing costs and can vary by hundreds of dollars.

    Learn more

  • What are closing costs?

    The real estate closing process involves loan steps, legal steps and title steps.

    Learn more

  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

    Learn more

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