The real estate industry of the United States of America is getting back to its pedestal starting from it s capital, Washington DC. In October 2007, it was shaken by the housing bubble burst that made the economy suffer a great economic depression and almost slip in the cliff of recession. However, in 2013, the industry showed improvements through the transaction flows from real estate transaction volumes.  It started to keep rising since 2011 as shown in this image.

Capital Flow Chart
The private sector comprises the 35% of the home buyer profile. This means that the land may have been used for commercial developments. On the other hand, among the states in USA, Washington DC seemed to have a flourishing year. The median sales price for Washington DC properties tend to increase and become more lucrative for investors.

Washington DC is rich with history, culture, architecture, and natural sceneries that make life even more wonderful to live. It provides a living you can always dreamed of. Think of getting a night life? DC has all of that. Think of living a suburban experience, DC can provide it. That is the reason why it is the capital of USA. Aside, from its glorious ancestors, you have the treasures that have been passed from one generation to another. You can have Dupont Circle, Adams Morgan, Logan Circle, and other neighborhoods that can make your living experience worth a while.
DC Suburb
It is also the place where embassies, consulates, religious institution, education, tanks, and other research institutes are established. It is a hub of culture and different cuisines. It has a lot to offer making it a community based state where everybody can participate with several programs and organized group activities.

Because of this, real estate agents of a DC property don’t find it hard to sell a house or commercial establishments. 57% of the realtors are female while 43% are male. They can earn an average of $54, 910 per annum (2011 data). Also, because of modernization house selling becomes easy. Internet eliminated hindrances of communication and distance. It makes Washington DC properties become available even with many other states where prospect home buyers live. In fact, 40% of internet searchers find home through search engines, social networking sites, and other traditional means such as flyers, post cards, and brochures.  

Lastly, if you are a home buyer out there, you need to be guided by the following new rules of buying a house for sale in DC.

1.       Credit Score- before home loans are approved even if the loaner has bad credit but because of the housing bubble burst, credit score matters. Only people with at least 300 credit score can apply for home loans.

2.     Down payment- it serves as a security for the seller. Your sincerity of getting a home is also measured through down payments. 20% is an ideal upfront payment.

3.       Income- you can’t get mortgage loan if you have low or no income. You can afford to pay a house if you have a source of income. So, have a stable job first with stable income.

Generally, the Washington DC real estate seemed to follow the trend of the general USA real estate industry. It is an indication that real estate indeed is back.

 


Comments

12/04/2013 4:25am

By reading this article, I see that this is a great real estate market. We need to have the financial option to purchase

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