First-Time Homebuyer Tips: VA Man’s Story
- Breaking into the D.C.area housing market can be daunting, but one Virginia resident and a local real estate expert are offering advice to help first-time buyers navigate the...
- Yony Kifle, founder and CEO of Your DMV Team Realty, believes that recent layoffs and elevated interest rates have reduced the number of active buyers.
- "It is now more possible than it has been in the past six to seven years to get closing costs covered, do home inspections and even ask for...
Navigating the D.C.-area housing market as a frist-time buyer? This article unveils valuable strategies. A Virginia man shares his personal experience alongside expert advice from a local realtor, spotlighting the unique opportunities present amidst shifts in the market. Discover crucial tips on planning, negotiations, and leveraging resources like first-time homebuyer classes. Learn how recent economic changes have impacted the market, possibly offering increased negotiating power. The article also emphasizes the importance of professional consultation to make purchasing your home more manageable. For more insights and a deeper dive into the process, visit News Directory 3. Discover what’s next for aspiring homeowners…
DC-Area Realtor Shares Tips for First-Time Home buyers
Updated June 15, 2025
Breaking into the D.C.area housing market can be daunting, but one Virginia resident and a local real estate expert are offering advice to help first-time buyers navigate the process. Despite market uncertainties, current conditions may present unique opportunities.
Yony Kifle, founder and CEO of Your DMV Team Realty, believes that recent layoffs and elevated interest rates have reduced the number of active buyers. This shift gives those entering the market more negotiating power.
“It is now more possible than it has been in the past six to seven years to get closing costs covered, do home inspections and even ask for a reduction in price,” Kifle told WTOP. He added that individuals with stable employment who can manage higher monthly payments may find this an opportune time to buy.
Amanuel Gebre purchased his first home in Alexandria, Virginia, in September 2024. He believes some of the lessons he learned remain relevant.
Gebre, a product designer for cvent, a software company based in Tysons, had been considering homeownership for a couple of years.Following a advice from his cousin, he sought guidance from Kifle.
“I told him,’hey,I’m in the market. What are my options right now?'” Gebre said. “He broke everything down for me and started showing me some homes shortly after.”
Gebre, whose family immigrated from Ethiopia, told Kifle he wanted a home in a walkable neighborhood near a shopping plaza, with access to a Metro station, and close to his family. He found a two-bedroom apartment in Alexandria that met his criteria.
Gebre said Kifle’s assistance made the buying process smooth. The biggest challenge was committing to a 30-year mortgage.
“I told him exactly what I was looking for and he found it… I almost had to do little to no work besides give him my details,” Gebre said. “I had to double check the home and talk things over with my dad and other kind of mentors and family members,make sure I was making the right decision.”
Gebre offers this advice: Don’t deplete your savings when buying a home. he bought his home during a buyer’s market and felt secure knowing he could rent it out if necessary. His brother lives with him, providing an additional safety net.
Kifle emphasizes the importance of early planning. He founded Your DMV Team Realty more than a decade ago and many of his clients are Ethiopian Americans, like Gebre.
“Sitting down with a professional like myself and our team, and even with the lenders and who we can put you in touch with, we’re really kind of taking the guessing work out of things,” Kifle said.”If somebody came to us a year in advance, and we have a conversation and they’re financially in perfect shape and all that, then they know all they have to do is just kind of stay the course.”
Kifle also suggests taking first-time homebuyer classes offered by Your DMV Team Realty. These classes explain the home-buying process and loan application procedures. They also highlight D.C. area programs that offer payment assistance or loans, such as Virginia Housing, D.C. Open Doors, and the Maryland Mortgage Program.
Gebre agrees that free real estate classes can help buyers understand home rates, negotiation tactics, home maintenance, and market conditions.
“Get some background knowledge about what’s inside of a home,” such as heating and plumbing, Gebre said. “All these problems that you would usually call apartment maintenance for, those are going to be under your responsibility.”
Kifle finds satisfaction in helping peopel like Gebre achieve homeownership.
“We are encompassed, like we become best friends for like sometimes months because we’re talking every single day, so like, there’s a relationship that builds,” Kifle said. “In our business, that’s what we always say, once you’re part of Your DMV team family, you’re in it.”
Gebre is still adjusting to being a homeowner and remains mindful of the future.
“I still don’t beleive it, like I didn’t even feel like telling anybody besides my family… it was really scary, honestly,” he said. ”But I think after six months from, looking back at it, I think started making it feel like home, hanging up pictures and stuff, I’d still say, like, on the back of my mind, I am worried about, like, you know what next four years are going to be like.”
What’s next
potential homebuyers should research available resources and connect with real estate professionals to create a personalized plan for entering the market.