I'm feeling refreshed from the Thanksgiving holiday and I'm back on the blog. There's been some interesting developments in the last week that make me feel more hopeful. SOME interesting developments. I also had a deal blow up so all is not rosy. Ho hum. That's life in the real estate world.
But onto the good news! Interest rates for mortgages dropped dramatically in the last two weeks. At one point during the week of Thanksgiving, my friends at First Financial were quoting 30 year fixed mortgages at 5.5%. Heck yea! I'm refinancing (to 5.3% from 6.1%...hurah!) and I emailed all my buyers. If the rest of the world wasn't so gloomy, I'd be doing a jig!
Also, DC Gov just published the tax rate for real property for next year and it decreased from $.89 to $.85. Bad news for public services but great news for us.
Oh..I just remembered that pesky deal that blew up. Dang.