Yes, we have noticed there are an abundance of acronyms strewn about our website. Yes, we are aware it can be confusing. Hopefully the following guide helps. (Some links are members only.)
ADU – Affordable Dwelling Units. Affordable housing is always an important issue in the District. More information
AMI – Area Median Income. The average income for a particular area. This is sometimes brought up with certain legislation, when only those with an income of, say, 120% of the AMI are eligible for a particular benefit or are subject to a particular tax.
DCAR – The District of Columbia Association of REALTORS®. The state-level association representing more than 2,800 members in DC. More information
DHCD – The Department of Housing and Community Development. A DC government organization responsible for homes and neighborhoods.
FHA – Federal Housing Administration. All housing matters to some extent concern the FHA. More information
FHFA – Federal Housing Finance Agency. A national resource for financial information on homes.
GCAAR – The Greater Capital Area Association of REALTORS®. The local-level REALTORS® association representing DC and Montgomery County. More information
HPAP – The Home Purchase Assistance Program. A DC program that can help residents purchase homes. More information
HUD – The U.S. Department of Housing and Urban Development. The current HUD secretary is Dr. Ben Carson.
IZ – Inclusionary Zoning. A DC initiative that requires at least 10% of residential floor area to be reserved for affordable housing.
MAR – Maryland Association of REALTORS®, which is now known as simply Maryland REALTORS® (MR). The state-level REALTORS® association representing Maryland. Many GCAAR members are a part of MR.
MR – (See above.)
NAR – The National Association of REALTORS®. The national-level REALTORS® association representing more than 1.2 million REALTORS® nationwide.
NVAR – The Northern Virginia Association of REALTORS®. The local-level REALTORS® association of the region of Northern Virginia.
R&T Taxes – Recordation and Transfer Taxes. The taxes on buying and selling a home. More information
RPAC – REALTORS® Political Action Committee. The advocacy group that supports REALTOR® interests.
TOPA – The Tenant Opportunity to Purchase Act. A decades-old law that allows tenants right of first refusal when the homeowner wishes to sell, which has had many unintended consequences. More information
VR – Virginia REALTORS®. The state-level REALTORS® association for the commonwealth of Virginia.
WDCAR – The Washington DC Association of REALTORS®. The previous name for DCAR. More information