September 19, 2024

The Interest Rate-Condo Price Connection

Low interest rates, while often seen as a driver of real estate transactions, can also discourage homeowners from selling their properties. Many owners secured their homes during a period of historically low mortgage rates. These favorable rates made owning a home more affordable by reducing monthly mortgage payments. If they were to sell, they would likely face much higher interest rates when purchasing a new home, leading to significantly higher monthly payments. This "rate lock-in" effect causes homeowners to think twice about selling,
January 17, 2025

10 Key Insights On Your New 2025 Assessment

In Arlington, real estate assessments are made every year for the full calendar year. There are two components to the assessment: Land and Improvements. Even for a condo, there is a land component. The improvement component is everything that was added to the land, e.g. the house or building. Here are 10 insights to know.