Home values in the greater Washington area, which the census defines as extending practically from the Chesapeake Bay to the Shenandoah mountains, are in for quite the price bounce, according to a forecast by financial services company Fiserv for CBS Marketwatch. It's the kind of bounce, though, that starts with a steep decline.
The National Flood Insurance Program is in suspended animation, starting March 1, thanks to congressional wrangling over legislation that would reauthorize it. The Post's Federal Eye blogger, Ed O'Keefe, explains the legislative drama, which is expected to be resolved within a few days. For home buyers and owners, it means the only source of flood insurance is temporarily unavailable. I asked Tim Wilson, president of affiliated businesses for Long & Foster, which includes a title company and two mortgage companies, if the holdup would delay real estate closings. "If FEMA shuts down for a few days, I think it would have very little impact," he said.