Cribline News Flash – Mortgage rates down significantly heading into Spring buying season

March 21, 2013 By Leave a Comment

Freddie Mac today released the results of its Primary Mortgage Market Survey® showing fixed mortgage rates reversing course from the previous week and going back down just as the spring homebuying season begins.

30-year fixed-rate mortgage this week were 3.54 percent, down significantly from last week when it averaged 3.63 percent. Last year at this time, the 30-year FRM averaged 4.08 percent. The 15-year FRM this week averaged 2.72 percent with an average 0.7 point, down from last week when it averaged 2.79 percent. A year ago at this time, the 15-year FRM averaged 3.30 percent.

March 21, 13

The breakdown:

For a 30-year fixed rate, every $100,000 borrowed at 3.54 percent means that the monthly principle and interest payment would be about $354.00/mo. 

For every Million dollars borrowed that would be $3,540/mo. 

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $250/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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Cribline News Flash – Mortgage Rates Up Slightly on Evidence of Improving Economy

March 14, 2013 By Leave a Comment

Freddie Mac today released the results of its Primary Mortgage Market Survey(R) that showed the average fixed mortgage rates going up a bit this week on stronger signs of job growth and consumer spending. The 30-year fixed averaged 3.63 percent, its highest reading since the week of August 23, 2012, according to FM. The 30-year fixed hit its average all-time record low of 3.31 percent the week of November 21, 2012.  These rates are still at historic lows and provide a good opportunity for home buyers.

Last week the 30-year rate was 3.52 percent. And, last year at this time, the 30-year rate was 3.92 percent.  The 15-year rate this week was 2.79 percent, up from last week when it averaged 2.76 percent. A year ago at this time, the 15-year rate was 3.16 percent.

March 14, 2013

The breakdown:

For a 30-year fixed rate, every $100,000 borrowed at 3.63 percent means that the monthly principle and interest payment would be about $363.00/mo. 

For every Million dollars borrowed that would be $3,630/mo. That’s about $100 more than last week. That’s $10 more dollars than last week.

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $255/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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Cribline News Flash – Mortgage Rates Hold “Steady”

March 7, 2013 By Leave a Comment

Freddie Mac today released the results of its Primary Mortgage Market Survey®.  It showed that the average fixed mortgage rates largely held steady from last week, remaining near 65-year record lows, and continuing to provide support for the housing recovery, according to Freddie Mac.

30-year fixed-rate mortgage was 3.52 percent, up slightly from last week when it was 3.51 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.

15-year FRM this week was 2.76 percent which was the same as last week. A year ago at this time, the 15-year FRM averaged 3.13 percent.

The breakdown:

For a 30-year fixed rate, every $100,000 borrowed at 3.53 percent means that the monthly principle and interest payment would be about $353.00/mo. 

For every Million dollars borrowed that would be $3,530/mo. That’s about $100 more than last week.

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $250/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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The Cribline: Something for Everyone on 8th Street (Barrack’s Row)

March 3, 2013 By Leave a Comment

Who knew?  I’ve lived in Washington for over 19 years, and all the time on Capitol Hill.  Some of my favorite spots in town are on 8th Street, but recently I was invited to dinner at a new restaurant there called Ambar.

I knew 8th Street, but when I pulled up to find parking, I really had no idea where it was.  I was essentially lost in my own neighborhood.  After stopping into another new restaurant, TASH, I wound up finding my way thanks to the host at the front desk.  And, the dinner discussion was focused on all the new places that have opened up on 8th Street, SE on Barrack’s Row.  And, there are a lot of them.

There’s a spot for kids, a health food market, spot for pet and dog lovers, coffee lovers, those who need fresh bread, cup cakes and other sweets, sports enthusiasts.  A spot for Thai, Italian, Balkan, Mediterranean lovers, bikers, and more… it’s really got a lot and I’m personally grateful to the many business owners who have made this one of the premier streets in DC.

I decided yesterday to walk the 4 or so blocks to assess just what was around.  Here are some pictures that revealed to me that there is something for everyone.

Take a look:

Check out The House Pick of the Week tomorrow.

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Cribline News Flash – Freddie Mac says “Mortgage Rates Break Holding Pattern, Move Lower “

February 28, 2013 By Leave a Comment

Freddie Mac today released the results of its Primary Mortgage Market Survey® showing that the average fixed mortgage rates moved lower after being largely unchanged over the past month. The group said that this will continue to help drive the housing recovery leading up to the spring home buying season.

  • 30-year fixed-rate mortgage were 3.51 percent this week, down from 3.56 percent last week. Last year at this time, the 30-year FRM averaged 3.90 percent.
  • 15-year FRM this week was 2.76 percent, down from last week when it was 2.77 percent. A year ago at this time, the 15-year FRM averaged 3.17 percent.

The breakdown:

For a 30-year fixed rate, every $100,000 borrowed at 3.51 percent means that the monthly principle and interest payment would be about $351.00/mo. That is about $10 more than last week.

For every Million dollars borrowed that would be $3,510/mo. That’s about $100 more than last week.

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $250/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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Cribline Sneak Peek – PN Hoffman’s Latest on 14th Street, “Northern Exchange”

February 22, 2013 By Leave a Comment

Dear Cribline readers:

When you come across 14th Street, NW, it is undeniable that this neighborhood is bustling with activity. It has evolved into one of the most vibrant areas of town with housing that has exploded, and new hip restaurants are opening all the time. Having Whole Foods close by is also a big bonus.

And, just today, I got a hot tip that a new condo development by one of my favorite local builders is coming on the market and there is going to be an open house this Sunday.  I’m talking about Northern Exchange at 1401 R Street, NW.  The model unit #205 will be open between 1 to 4 p.m.

The main features of the unites include:

  • Open loft floor plans with ceiling heights up to 15 feet
  • Original exposed brick walls
  • Contemporary kitchen designs and Bosch stainless steel appliances
  • Modern bathroom finishes featuring Porcelanosa tile

The building features include:

  • Modern lobby
  • Secure bike room
  • Cafe on first floor
  • Roof terrace and residents’ lounge with outdoor grill and views across Washington
There are loft units that range from 655 to 830 square feet and are prices between $419,000 and $499,000.
There are also studios on the Penthouse level that are 470 square feet and start at $399,000.
And, the one bedroom units are priced between $719,900 and $839,900 and are 900 to 930 square feet.

The Washington Business Journal wrote about the former 109 year old building owned by Verizon back in April of 2011.

“…Hoffman, the developer who speckled the 14th Street corridor with high-end residential projects during the go-go days, is returning to the area with his first post-recession condominium project.

His company, PN Hoffman Inc., acquired the historic 33,240-square-foot Verizon Building at 1401 R St. NW for $4.67 million the first week in April, with plans for a $12.5 million condo project. Eric Colbert & Associates PC is designed the project.

The developer will begin work mid-summer, gutting the 109-year-old building to make way for 34 condominiums.

The building, initially constructed for the Chesapeake & Potomac Telephone Co., has served for years as little more than a storage facility for Verizon Wireless….”

Read more here.

When you’re in the neighborhood maybe have lunch or dinner at Pearl Dive, Posto or Cork (some of my favorite spots in town).  And, maybe slip in some furniture shopping at Room and Board, Vastu, or Mitchell Gold.

See you Sunday. I’ll be there!  Happy house hunting!!!

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Cribline News Flash – Mortgage Rates Up a “Smidgen” According to Freddie Mac

February 21, 2013 By Leave a Comment

Freddie Mac today released the results of its Primary Mortgage Market Survey®, that showed the  average fixed mortgage rates have not changed very much over the past month.  This is helping to spur new home construction Freddie Mac said.

The 30-year fixed edged up to 3.56 percent from 3.53 percent after staying the same over the past 3 weeks.  Last year at this time, the 30-year rate was 3.95 percent.

The 15-year FRM this week was 2.77 percent. Last year, the 15-year FRM averaged 3.19 percent.

What this means:

For a 30-year fixed rate, every $100,000 borrowed at 3.57 percent means that the monthly principle and interest payment would be about $357.00/mo. 

For every Million dollars borrowed that would be $3,570/mo. 

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $250/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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Cribline News Flash – Mortgage Rates Unchanged AGAIN (3rd week in a row)

February 14, 2013 By Leave a Comment

Thirty-year fixed mortgage rates remained unchanged from last week’s rate according to Freddie Mac‘s latest Primary Mortgage Market Survey® It said that mortgage rates should continue to aid in the ongoing housing recovery.

The 30-year fixed-rate mortgage wsa 3.53 percent. Last year at this time, the 30-year FRM averaged 3.87 percen

The 15-year FRM was 2.77 percent. That is down from last week when it was 2.81 percent. A year ago at this time, the 15-year rate was 3.16 percent.

The breakdown:

For a 30-year fixed rate, every $100,000 borrowed at 3.53 percent means that the monthly principle and interest payment would be about $353.00/mo. That is about $10 more than last week.

For every Million dollars borrowed that would be $3,530/mo. That’s about $100 more than last week.

After the tax deductions that would cut about 20 to 30 percent off of that making the final net payment approximately $250/mo. net for $100,000 borrowed, and about $2,500/mo. net for every million dollars borrowed.

You’ll have to add in the down payment, taxes and insurance on top of this mortgage.

Check out The Cribline House Pick of the Week to see how owning a home can often cost much less than renting!

If you have questions about real estate, click here to submit.

Happy house hunting!!!

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Cribline News – Washington Rallies for Literacy at Dinner for Adult Literacy

February 13, 2013 By Leave a Comment

People are buzzing today about the Washington Literacy Center‘s Love Letters for Literacy gala dinner, held last night at the National Museum of Women in the Arts.

Last night marked the 20th anniversary of this inspiring event.  This great organization puts on programs that help adults who struggle with reading.  There are more people out there with this problem than you might think.

Former WLC student Gregory Gerald told his story of coming to WLC and  how he is gaining confidence in his abilities to read and write.  Gregory now enjoys reading Politico and contributes to the WLC’s blog. 

Politico’s Jim VandeHei read a passage from Theodore Roosevelt’s well-known “man in the arena” speech.  He recounted how President Roosevelt inspired him to take the risk and start Politico.

Jim featured the event on today’s Politico Playbook.

POLITICO’s FAVORITE READER: The Washington Literacy Center held a fundraiser last night, the 20th annual “Love Letters for Literacy,” featuring Gregory Gerald, who learned to read late in life thanks to this amazing program. Gerald, who just started reading a few years ago, said his first and favorite publication to read is — wait for it — POLITICO, a copy of which he picks up at his local Starbucks. Gerald is a testament to fearlessness, courage and the power of the adult literacy program. YouTube of Gerald telling his story http://bit.ly/X4mvmE Click here to donate. http://washingtonliteracycenter.org

Cribline is all about making one’s dreams a reality here in DC.  I had a wonderful time supporting this great organization and its worthy mission.  This event is always a standout, and im already looking forward to next year!

There are an estimated 90,000 adults in DC who have trouble reading. If you would like to support this worthy cause please click here.

Thanks for reading and thanks for supporting our great city!

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The Cribline Exclusive Interview – Bub and Pop’s Owner Brings Best of Philly to DC

February 10, 2013 By Leave a Comment

Dear Cribline readers;

This week, The Cribline was introduced to what I would consider THE best sandwich shop in town Bub and Pop’s at 1815 M Street, NW. Bringing a bit of Philly to DC… It just opened Monday!!!

If you are looking for an authentic Philly hoagie, well there’s finally a place in town that serves it… and it is probably the best hoagie I’ve ever had. I can’t stop thinking about it.  I got the Italian, but I hear the brisket with fried egg is also to die for.

There is also an array of other sandwiches in addition to salads, matzoh ball soup, clam chowder, pizza, and get this… cheesesteak stromboli. Check out the menu. I will be back to try it all!!! And, they deliver for a $30 minimum.

Having just opened on Monday, I sat down yesterday with the young and very talented chef Jon Taub to learn more about how it all got started.  They haven’t even put up the sign yet, but I will say that before too long, they probably won’t need one, because I predict there will soon be a line out the door.  Sorry Potbelly!

So during the interview I was given fresh housemade kettle chips, while my sandwich was being made, and they were served with the best french onion dip on the planet…  They also brought out several versions of their specialty pickles too. One word: Yum!

I could only eat half of the hoagie yesterday, so I put the other half in my refrigerator at home.  And, let me just confess that I went straight for the second half as soon as I got up this morning.  This could become a problem!  Now, let’s hear more about Traub:

The Cribline: So, who is Bub and Pop’s?

Traub: Those are my grandparents who are from Philly where I also grew up. Grandma Bub, and grandpa Pops!

The Cribline: How did you come up with the idea?

Traub: This is one of the concepts I’ve been thinking about for a long time. I’ve been working in this business since I was 11.  I started washing pots, pealing potatoes, etc…and years later I staged or apprenticed for Morimoto (aka the Iron Chef) when he opened his first restaurant in Philly (Morimoto).I then went to work at the top restaurant in Philly at the time LaCroix before coming to DC to open the doors at Adour for Alain Ducasse at the St. Regis.  A 17 Michelin Stars recipient, he is the Michael Jordan of cooking!

After a few other stops along the way, it was time to go out on my own!  And, this just fell into place. I had saved up, and started looking 2 years ago for a spot.

The Cribline: Tell us more about what went into this concept?

Traub: I found that after moving here, I couldn’t get a good sandwich… I’d have to go home to get a brisket, a good pizza…back to Philly.  And, I stumbled on this place, a former deli.  They had the ventilation system, they had the brick oven, they had the infrastructure for making sandwiches.  And, I said to myself that this fits one of my concepts.

The Cribline: What is your favorite restaurant?

Traub: I have to say, I don’t get out to restaurants often. This profession doesn’t really allow for it. But, I like what Rogue 24 is doing.  I think it’s a neat concept.

The Cribline: Ok, so tell me what I ordered and what I’m eating now?

Traub: You ordered Bub’s Italian Hogie with Genoa salami, prosciutto, capicola, pepperoni, aged provolone, arugula, roma tomatoes, hoagie relish, mayo, Bug’s vinaigrette, and pecorino romano.  And, now, you’re eating the housemade potato chips, with french onion dip from scratch.  This is a special recipe that includes caramelized onions, dry sherry  chives, and scallions.  And the chips we fry every morning! This is my only side dish.

The Cribline: Do you have any concluding thoughts?

Traub: You know, back home we take this for granted… being able to go down the street and get a good sandwich. This place is a great launching point for the other concepts I have, that include a range from sandwich shop to fine dining. And, I’m focused on bringing something new to DC, something that hasn’t been done before.

The Cribine: Well thank you, this really is much more than I expected.  

 

I walked into Bub and Pop’s without much expectation, and I left an hour later with an arm full of goodies.  I met Traub’s parents, and staff, got a lay of the land of his first venture out on his own… one of about 7 concepts he is pursuing. It was clear from this experience that DC has a rising star on the culinary front.  This is a guy to watch, and I believe that your hoagie experience will be a memorable one!

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