Two pieces of legislation that can have a significant affect on the property values in our neighborhood are in process this week. Congress has passed an extension of the FHA, Fannie Mae, and Freddie Mac higher loan limits through 2010. The President is expected to sign off on this quickly. This helps there to be affordable mortgage money available for the purchase of homes in the price ranges found in DC. The other very important legislation that has had much debate recently is the extension of the Federal Tax Credit for Home Buyers. The current proposed legislation extends the credit into next Spring. It also expands the people that it serves by increasing income limits and by allowing some current property owners to access the credit. Hopefully, a vote will be scheduled for next week.
And here are open houses for Sunday.