Real Estate Expert Answers - DROdio Real Estate, Inc., VA/MD/DC

The foreclosure market is starting to heat up in a big way, and more foreclosures are on the way. Being a smart foreclosure shopper, or at least including foreclosures in your search, is a smart move, but you must approach these homes carefully. Here’s a brief primer on the topic. For more detail...

A Good Faith Estimate, or GFE, as it’s known by it’s Realtor lingo, is an estimate from the lender on what your total payment will be when you buy the house. There are some very important things to know about this GFE: 1) The main thing to know is that it’s negotiable. And we’ll give you tips to ...

A client writes: “Have you ever had a client work with Quicken Loans or E-loan? Do you have any thoughts on using an online lender?” Our Answer: Yes we’ve had clients use all types of lenders. Online lenders tend to have a bad rap, but we’ve found a way to really have them benefit you. Here’s our...

A client of ours asked: “How does rent/lease back work- one couple is building their dream house, but it’s not ready yet? Would we buy the house outright and then they just pay the regular mortgage?” Our answer: Yes, when you do a rent-back, you take possession of the house (i.e., settlement) and...

Once you ratify a contract, we will work with you to make sure the inspections get done and all contingencies are released. The main job you as a buyer have is to get your loan paperwork done (i.e., send in your paystubs, pick your loan program - 30 year fixed vs. ARM, etc.) Below is a copy of an...

Washington, DC has a number of credit, closing assistance, and grant programs for current DC residents, and for first time home buyers in DC. Here’s a summary: HPAP - Closing assistance program, Not a grant: http://www.gwul.org/published/programs_and_divisions/hpap.html DC Tax Abatement Program: ...

The quick answer is that the market has changed, and the pool of capital used to fund loans at yesterday’s rates has dried up. Here’s a more in-depth answer: You’ve probably heard that lenders like American Home Mortgage have shut their doors. But to really understand what happened, you have to u...

I often have people ask me questions about things they don't know the answers to, which I don't mind at all. The only thing I wish people would do, is ask the question on Google first. 95% of the time, Google will have the answer.  In fact, often when people ask me a question, I just go to Googl...

I really despise automated voicemail trees. While I understand their role in funneling callers to the right person to handle the call, we're really in the dark ages as to how we use them.  Companies like "TellMe" (recently purchased by Microsoft) are easing things slightly. I currently use a voic...

There's a great saying amongts techies that translates to life in general: Good, Fast, Cheap... Pick 2. Meaning you can never get all three.  And it makes sense.  You can get something 'good' and 'fast', but it won't be cheap.  Or it can be 'good' and it can be 'cheap', but it won't be fast.  Et...