![Last week, the U.S. Department of Housing and Urban Development (HUD) announced long-awaited updates to the FHA 203(k) program. These changes will take effect on November 4, 2024, and are aimed at improving loan conditions for home purchases or refinancing.
Swipe and check out the key changes to the FHA 203(k) program! ✨🏡
#homebuying #realestate #mortgage #housingmarket #fha #homebuyers #homeloans #propertyinvestment #housingupdates #renovationloan #realestatenews #mortgageupdates #homeownership #firsttimehomebuyer #housingloan #homeinvestment #realestatetips #propertymarket #mortgagenews](https://scontent.cdninstagram.com/v/t51.29350-15/451739715_7793251414097967_266366834032630325_n.jpg?_nc_cat=101&ccb=1-7&_nc_sid=18de74&_nc_ohc=f5i2GF56WzAQ7kNvgGDRv1R&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYCJBW_CsqyTyMtM6cAF1qGIggl1CVhdnrOi9BBrGoLZ-g&oe=66AA35C6)
![Washington DC Housing: Opportunity Knocks for Prepared Buyers
The local housing scene is shifting. 📈 Sky-high prices and interest rates are cooling demand, while more homes are hitting the market. Sellers are even sweetening deals with closing cost help and repair credits.
It’s not a full-on buyer’s market YET (inventory is still tight in most areas), but those ready to navigate high rates and prices have more negotiating power.
Key takeaways:
* More listings, less competition
* Sellers offering concessions
* Still a seller’s market overall
* Prepared buyers can leverage the shift
Thinking of buying? Now might be your time to shine! ✨
#realestatemarket #WashingtonRealEstate #homebuying #negotiationtips #buyersopportunity](https://scontent.cdninstagram.com/v/t51.29350-15/450296984_797907895762971_3603730310945597718_n.jpg?_nc_cat=109&ccb=1-7&_nc_sid=18de74&_nc_ohc=rd6qDvflzaQQ7kNvgGhhH9B&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYAqiD_d737rv6wGew8HFdOUZ58IzBgav_vMA18T1UYTSA&oe=66AA52C3)
![🏠✨ Exciting news for homeowners! According to Freddie Mac’s latest report, long-term mortgage rates have dropped for the fourth consecutive week. The average rate for a 30-year mortgage now stands at 6.86%, one basis point lower than last week. This could be a positive development for those considering selling their home, as lower rates often attract more potential buyers. 📉🏡
🤝 If you home has been on the market for a bit or your listing is expiring soon, it might be a good time to reassess and adjust your strategy. Feel free to reach out and explore potential solutions tailored to your needs. Together, we can navigate the current market conditions and work towards achieving your real estate goals. 💬
irina.norrell@compass.com
M: 202-495-8373
O: 301-298-1001
#realestate #mortgagerates #homeforsale #housingmarket #realestatetips #listingexpired #propertymarket #realtorlife #mortgagebroker #sellinghomes #homeownership #propertyadvice #realestateagent #marketanalysis #housingstrategy #homesellingtips #freddiemac #homelistings #housingtrends #realestateadvice #irinanorrell #realestatecompass #compass #washingtondc #compassdc](https://scontent.cdninstagram.com/v/t51.29350-15/449690499_984522856482774_6614655206760721740_n.jpg?_nc_cat=108&ccb=1-7&_nc_sid=18de74&_nc_ohc=PAvfiAqP0YYQ7kNvgHsU7ZN&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYApt_Ig37ZgF2bgaNcAAZXW7UmUnqC0NLoVLT4YO_rCYQ&oe=66AA4258)
![Perfect day for a private tour and lunch at the nation’s Capitol Building! No latter how many times you go there, it’s awe inspiring every time! So much history and beauty! #thecapitol #capitol #downtowndc #tour](https://scontent.cdninstagram.com/v/t51.29350-15/447769914_316610578154692_3022292832878585865_n.jpg?_nc_cat=101&ccb=1-7&_nc_sid=18de74&_nc_ohc=MI6t4X-RRmwQ7kNvgHCdM_4&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYC-hdajk2X8bG-LY0tmfyQrJjKVQ33gP8ZkokqtfWVCvQ&oe=66AA3F53)
![Happy Mother’s Day! #mothersday #mother #motherhood #rest](https://scontent.cdninstagram.com/v/t39.30808-6/441584589_18038306191857064_9071596474392538324_n.jpg?_nc_cat=103&ccb=1-7&_nc_sid=18de74&_nc_ohc=9E7Y-JMHiM4Q7kNvgH_K6Oy&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYC4TiQgCe993MvV9Oxmh056DdxvjsxNNIRPH6ppiivqaQ&oe=66AA3E06)
![irina.norrell.realtor](https://scontent.cdninstagram.com/v/t51.29350-15/451739715_7793251414097967_266366834032630325_n.jpg?_nc_cat=101&ccb=1-7&_nc_sid=18de74&_nc_ohc=f5i2GF56WzAQ7kNvgGDRv1R&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYCJBW_CsqyTyMtM6cAF1qGIggl1CVhdnrOi9BBrGoLZ-g&oe=66AA35C6)
irina.norrell.realtor
Last week, the U.S. Department of Housing and Urban Development (HUD) announced long-awaited updates to the FHA 203(k) program. These changes will take effect on November 4, 2024, and are aimed at improving loan conditions for home purchases or refinancing.
Swipe and check out the key changes to the FHA 203(k) program! ✨🏡
#homebuying #realestate #mortgage #housingmarket #fha #homebuyers #homeloans #propertyinvestment #housingupdates #renovationloan #realestatenews #mortgageupdates #homeownership #firsttimehomebuyer #housingloan #homeinvestment #realestatetips #propertymarket #mortgagenews
![irina.norrell.realtor](https://scontent.cdninstagram.com/v/t51.29350-15/450296984_797907895762971_3603730310945597718_n.jpg?_nc_cat=109&ccb=1-7&_nc_sid=18de74&_nc_ohc=rd6qDvflzaQQ7kNvgGhhH9B&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYAqiD_d737rv6wGew8HFdOUZ58IzBgav_vMA18T1UYTSA&oe=66AA52C3)
irina.norrell.realtor
Washington DC Housing: Opportunity Knocks for Prepared Buyers
The local housing scene is shifting. 📈 Sky-high prices and interest rates are cooling demand, while more homes are hitting the market. Sellers are even sweetening deals with closing cost help and repair credits.
It’s not a full-on buyer’s market YET (inventory is still tight in most areas), but those ready to navigate high rates and prices have more negotiating power.
Key takeaways:
* More listings, less competition
* Sellers offering concessions
* Still a seller’s market overall
* Prepared buyers can leverage the shift
Thinking of buying? Now might be your time to shine! ✨
#realestatemarket #WashingtonRealEstate #homebuying #negotiationtips #buyersopportunity
![irina.norrell.realtor](https://scontent.cdninstagram.com/v/t51.29350-15/449690499_984522856482774_6614655206760721740_n.jpg?_nc_cat=108&ccb=1-7&_nc_sid=18de74&_nc_ohc=PAvfiAqP0YYQ7kNvgHsU7ZN&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYApt_Ig37ZgF2bgaNcAAZXW7UmUnqC0NLoVLT4YO_rCYQ&oe=66AA4258)
irina.norrell.realtor
🏠✨ Exciting news for homeowners! According to Freddie Mac’s latest report, long-term mortgage rates have dropped for the fourth consecutive week. The average rate for a 30-year mortgage now stands at 6.86%, one basis point lower than last week. This could be a positive development for those considering selling their home, as lower rates often attract more potential buyers. 📉🏡
🤝 If you home has been on the market for a bit or your listing is expiring soon, it might be a good time to reassess and adjust your strategy. Feel free to reach out and explore potential solutions tailored to your needs. Together, we can navigate the current market conditions and work towards achieving your real estate goals. 💬
irina.norrell @compass.com
M: 202-495-8373
O: 301-298-1001
#realestate #mortgagerates #homeforsale #housingmarket #realestatetips #listingexpired #propertymarket #realtorlife #mortgagebroker #sellinghomes #homeownership #propertyadvice #realestateagent #marketanalysis #housingstrategy #homesellingtips #freddiemac #homelistings #housingtrends #realestateadvice #irinanorrell #realestatecompass #compass #washingtondc #compassdc
irina.norrell.realtor
Perfect day for a private tour and lunch at the nation’s Capitol Building! No latter how many times you go there, it’s awe inspiring every time! So much history and beauty! #thecapitol #capitol #downtowndc #tour
irina.norrell.realtor
Had so much fun! 🙌❤️
runningstart
Love this!!!!
![irina.norrell.realtor](https://scontent.cdninstagram.com/v/t39.30808-6/441584589_18038306191857064_9071596474392538324_n.jpg?_nc_cat=103&ccb=1-7&_nc_sid=18de74&_nc_ohc=9E7Y-JMHiM4Q7kNvgH_K6Oy&_nc_ht=scontent.cdninstagram.com&edm=AM6HXa8EAAAA&oh=00_AYC4TiQgCe993MvV9Oxmh056DdxvjsxNNIRPH6ppiivqaQ&oe=66AA3E06)