Boring Title

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

This week, we wanted to bring awareness to an awesome charity golf tournament here in Arlington!

Please join us on Monday, October 5 at Army Navy Country Club — Arlington for a COVID-19 friendly day of golf!

Not only will this be a great day on the links at one of the region’s best private golf courses, but you’ll join title sponsors Orange Theory Fitness and Allied Title & Escrow LLC to help raise money for Bridges To Independence. Every player out there and every sponsor we can get helps Bridges to lead their clients out of homelessness and into permanent, stable housing.

During registration, please make sure to purchase your mulligans, hand wedges and more! Feel free to email us with any questions.

To register, click here!

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we interviewed John Downs of The Downs Group at Vellum Mortgage. John talks about the new Fannie & Freddie “adverse market” fee, and how that will affect refinances going forward.

Have questions for John? Shoot him an email at [email protected].

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

D.C. Metro area housing market update (from what we’ve seen).

• 20% increase in sales price from June

July was a record-breaking month for home sales price in the D.C. Metro area. The median sales price has reached a decade high. With rates falling below 3 percent, buyer demand continued to skyrocket. Led by Northern Virginia, Alexandria and Arlington posted decade high median prices. Additionally, homes are selling quickly, keeping inventory tight. According to Redfin, the D.C. area is the fourth most competitive housing market in the U.S.

• 13% increase in opened deals from June

July deals did not solely increase in sales price, but volume as well. We received our most deals ever in July, up 13% from June — an indication of increased seller sentiment. Redfin reports that this is the first time ever on record that July closings gained from June. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. The rebound of the D.C. Metro area housing market has been incredible. Amidst the most unpredictable times in the modern era, it has been a force for economic recovery.

• August projections: slight increase in median sales price, increase in volume

Data from our deals set to close in August reflects a slight increase in purchase price from July. The record-breaking home prices continue to beat July’s decade-high median sales price. The rates are too low to miss out on securing a new home for consumers. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. Not only will price increase, but volume as well. As seller sentiment continues to rise, the already strong buyer demand is rising as well.

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we have two segments:

• An interview with DMV Realtor Josh Ross of Ross Residential
• Brief market update

We interviewed Josh Ross of Ross Residential, who is a real estate agent licensed in D.C., MD and VA. Josh gives a brief background of himself and Ross Residential, talks about the impact of the pandemic on real estate, why he chooses to partner with developers and more! Want to learn more about Ross Residential? Check them out at www.rossrem.com.

July Market Statistics (From What We’ve Seen)

• 25% increase in home purchase price from June
• 14% increase in purchases as a percent of total deals closed
• 11% increase in purchases opened in first half of July compared to first half of June

Thus far in July, we continue to see homes selling quickly and for record high prices, a reflection of the high buyer demand in the D.C. area housing market. Fairfax and Alexandria reported the highest median monthly sales price in a decade in June 2020, largely due to the limited inventory of listings.

However, it appears seller confidence is rising, and the market could begin to normalize. Purchases as a percentage of total deals closed rose in July thus far. We expect this percentage to continue to rise as the market continues to rebound as sellers continue to enter the market.

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we have three great pieces of information for you:

• An interview with one of the largest wholesalers in the area
• June market update (from what we’ve seen).
• D.C. specific market update

We interviewed the CEO of 4 Brothers Buy Houses, Jon Carcone. 4 Brothers Buy Houses is one of the largest wholesalers in the DMV, and they do things very differently from other wholesalers. If you have a property that you are interested in selling a property, or want to partner with 4 Brothers Buy Houses, check them out at www.4BrothersBuyHouses.com.

June 2020 Market Statistics (From what we’ve seen)

• June Refinances Closed were 831% higher YoY
• Q2 Refinances Closed are up 141% from Q1
• June Purchases Closed were our most ever in a month, up 64% from May
• June Deals Closed were 186% higher YoY
• June Deals Opened were our most ever in a month, up 174% YoY

The D.C. area housing market has observed one of the quickest rebounds in the U.S.

The D.C. market is comprised of high-earning, younger individuals. The stable employment industries of D.C. provide job safety for residents during COVID-19. As these people can accumulate savings amid the pandemic, combined with low mortgage rates, it poses great opportunities for home buyers. Moreover, underwriting is tight, so more people are buying houses without risk of overwhelming mortgage payments.

The massive growth in refinancing volume stems from dropping mortgage rates resulting from the fed cutting rates to near zero in March. As the market regains efficiency and participation, we expect to become more purchase dominant.

The recent increase in listings whilst demand remains high allows for an efficient, thriving housing market. With an increase in seller sentiment, do not expect this growth to slow down any time soon. The success of the housing market appears to be propelling economic recovery in the area.

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

There has been a lot of talk recently about Remote Online Notarization, which is the ability to close your real estate transaction completely online. To understand exactly how it works, here is a great commercial from our partner Notarize.

Check it out: 

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we wanted to provide you with an update on the real estate market in the DMV, and how it has rebounded since the start of the pandemic.

Click here to read more.

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we wanted to provide you with an update on how COVID-19 has affected the real estate market in the DC area.

Click here to read more.

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

For this week’s edition of Boring Title, we wanted to open up a discussion with those reading ARLnow.

The past month, we’ve had Mike from our marketing team shoot and post one video per day. While some of these videos have been educational, others have been funny videos with the sole purpose behind them is to provide laughs to clients during these stressful times.

The videos have been well received by our clients and those who know Allied Title & Escrow, but one video in particular went semi-viral (See below).

@alliedmikeDon’t you wish all buyers were this easy!? ##fyp ##foryou ##forypupage ##realestate @drewcarp89♬ Intentions – Justin Bieber

With around 500,000 views and 70,000 likes on TikTok, it made us all wonder… what gives a video the ability to go viral? This specific video was not the funniest, or the most educational, and we didn’t have any expectations for it to go “viral.”

(more…)

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

Are you ready to buy a property or refinance, but don’t want to leave your residence? There is a great option now available that allows you to close on your home without leaving your home.

Borrowers can now appoint the title company as a limited power of attorney, which allows the title company to sign the closing documents on their behalf. All the borrower needs to do is sign a limited power of attorney (which gives the title company authority to sign for the borrower), and then they can close on their home over a Zoom meeting with the title company.

For this week’s edition of Boring Title, CEO of Allied Title & Escrow Latane Meade speaks with Brackton Pratt, Senior Vice President of First Savings Mortgage Corporation. First Savings has rolled out their FSMC SAFECLOSE program which uses the newly regulated LPOA signings.

Check out this 2 minute video on the new program and how you may be able to benefit from this!

Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!