There are some confusing figures released this week concerning the housing market.  The Obama Administration takes office amid much conflicting information and uncertainty.  An economic stimulus is expected, but the markets and forecasts reflect uncertainty over what that stimulus could be, and what it could mean.  Let’s sort out some of that buzz here.

For starters, there’s the recently released Loan Level Price Adjustments from Fannie Mae for condos.  Even with a good credit rating, borrowers who are paying less than 25% down on a condo will see fees from Fannie Mae, that are now reflected in local banks quotes and indexes.  The fees don’t take effect until April 1, but some homes that go under contract today may not close until then. Those fees don’t necessarily mean someone will not buy a property, but they do not help the current pressure on the market either.  They reflect the risk factor that Fannie Mae sees in loans on condos, coops, multi family dwellings, and cash outs.

Then there’s the national survey results from The American Institute of Architects, which measures architectural firms’ billing. Scores above 50 represent an increase in billings, and therefore an increase in work on new construction.  Scores below 50 represent a decline.  Well, December’s score was 36.4, just a little bit higher than November’s 34.7.  There’s a significant time lag between architectural firms invoices and the start of actual construction, so the survey is considered an economic indicator of new construction.

BUT…..The National Association of Homebuilders is expecting better times in 2010.  Their leading analysts have predicted that the slide of housing starts will continue through the second quarter of 2009, and then that will be the bottom of it.  They expect a stimulus package, combined with data that the number of US households is expected to grow, will cause housing starts and sales of existing homes to go up again.

Any forecast right now is dependent on what the new president will do.  But in good times and bad, people have to live someplace – and over time, real estate proves to be a solid piece of a family’s financial portfolio.  The key is for working people to keep your credit clean, your income consistent, and live within reasonable means.

Right now, for the qualified buyer, it is a very good time to buy a Washington DC condo.The buyer has a choice of properties and price ranges.  From the luxury of Washington Condo developments like Chase Point and 22 West to the trendy inside beltway residences such as EOS-21 and Moderno , there is a tremendous variety of DC condos on the market.  It’s my pleasure to assist you in finding the one that is right for you.

EOS twenty-one is an Orion property, and you see their website here.  Moderno is a DC Real Estate property, and their website is available to view here.

Remember when you buy with CondoDomain in Washington DC  you save thousands via our commission refund business model.  On average our clients get back more than $10,000 cash back at closing!  (Learn More )