Sponsored: Low Prices and Low Rates Signal Time to Buy

• March 4th 2011

by UrbanTurf Sponsor

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If you’re potentially in the market to purchase a home in the DC area, it is important to take into account that the low home prices and historically low rates may soon start to rise.

While inventory is low, several boutique projects from UrbanLand Company are coming on the market soon that will add some well-priced units for hungry buyers. Eckington Hill, for example, is a project that will offer 1,300 square-foot two-bedroom, 2.5-bath units for $300,000, condos that would have listed for $350,000 a few years back. This same developer is working on a four-unit Victorian building next door that will be named The Lexington and offer similarly well-priced units.

Another reason to buy this year is that the proposed changes to Fannie Mae and Freddie Mac could change the home-buying landscape significantly. Those changes could include increases to the price of mortgage insurance, lower limits on FHA loans, and increased down payment minimums of 10 percent of a home’s purchase price. What this means for home buyers is that now is a great time to take advantage of the 3.5 percent down payment offered through FHA financing and various down payment assistance programs that are available today.

UrbanLand Company agents are a great resource for buyers to get the latest information about these programs and new condo developments not on the market yet. Contact one today.

UrbanLand Company specializes in boutique residential projects, offering developers the planning, building, sales and marketing expertise the firm has built up over years of working in the District. Follow them on Facebook by clicking the image to the left.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/sponsored_low_prices_and_low_rates_signal_time_to_buy/3097.