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Today at 12:30pm
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns.
Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.
Enjoy!
Question: Can you explain how the Earnest Money Deposit is used and what an acceptable amount is?
Answer:
What is the EMD?
I like to define Earnest Money Deposit (EMD) as an amount of money deposited by a Buyer as security for the Seller that the Buyer will perform under the obligation of the real estate contract. Assuming the Buyer completes the purchase transaction, the deposit is deducted against what they owe at closing (down payment + closing costs).
May 18, 2021 at 12:30pm
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns.
Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.
Enjoy!
Question: In your last article you mentioned Bright MLS a few times, can you explain what that is?
Answer: If you’re buying or selling a home, you may hear the term “MLS” or “Bright” used a lot. The simplest way I describe it to people is that the MLS, short for Multiple Listing Service, is the real estate industry’s database(s) of record for property sales. There are hundreds of regional and local MLS’s across the country.
Today at 12:45pm
This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!
Question: How did Q1 compare to other quarters, and what does that mean for Q2?
Answer: The housing boom has been front-and-center in the national news cycle for about six months now, and Q1 blessed many homeowners and builders with amazing results, while inflicting similar levels of frustration on buyers.
Despite the national, regional and local craziness, the Arlington single-family home (SFH) and townhouse (TH) markets actually didn’t look that different in Q1 2021 compared to the last couple of (post-Amazon HQ2) years, so the pandemic-related housing boom hasn’t created nearly the systemic shock here as it has in other local markets like Fairfax County and Loudoun County. Months of Supply (measure of supply and demand) for SFH is down 36% YoY for Q1