Fairfax County First Time Home Buyers Real Estate Blog

Short Sale Approval Letters and What is a Short Sale?

2010-06-18T13:15:00.000-04:00

SHORT SALE APPROVED !

We just got ANOTHER Short sale approved and its closing next week!! Chase was the bank and it only took 3 months. This was an investment property for the seller, that he had to let go because it was loosing to much money. He was forgiven the debt and a copy of the letter is below.

We have helped many clients succesfully obtain short sale approval letters from their bank and not have to pay back the difference in what they owe. See the letters below.

Short Sale - Selling your home for less than what you owe. Be very careful when choosing a real estate agent to help you in your short sale. The whole purpose of the short sale is to get the bank to forgive your debt. (the amount you would owe after selling your property for less than what you owe) We have a law firm that negotiates our short sales and their whole goal is to make sure yo do not repay that debt. Check out some of the short sale letters below, where the law firm has negotiated on behalf of the sellers and they did not have to repay their debt.

If you or someone you know can't afford their payments or they do not want to live in there home anymore because its worth so much less than what they paid for. Contact us today. We can help guide you through this. Free consultation to see if you qualify and what a short sale is all about.

Short Sale Closing the end of June (Chase)

Short Sale Closing the end of June (Citi)

Short Sale Condo closed at the end of May (Bank of America)

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Short Sale Townhome closed at the end of March (EMC Mortgage)

Short Sale Single Family Home closed the end of April (PHH Mortgage)

Short Sale Condo closed the begining of March (Metlife Home Loans)

Thanks for reading our NOVA Real Estate Blog!

Posted by: Nate Johnson - NOVA Real Estate Agent

The Johnson Team is apart of Keller Williams Realty,

specializing in Northern Virginia Real Estate.

703-725-2929

Is Anyone Buying Homes Right Now

2009-04-29T10:12:00.003-04:00

FairfaxFirstTimeHomeBuyers.com

4/29/09

We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Overall : Inventory is starting to shrink, Less Bank Owned Properties are on the market, Multiple offers are every where, Sales continue to grow.

Check back at the end of the month to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

149 Active Listings (-24 from 1 month ago)

In the last 30 days 274 homes are under contract or have sold ! (+64 from 1 month ago)

Centreville

115 active listings (-72 from 1 month ago)

In the last 30 days 367 homes are under contract or have sold ! (+80 from 1 month ago)

Reston

113 active listings (-29 from 1 month ago)

In the last 30 days 194 homes are under contract or have sold ! (+40 from 1 month ago)

Herndon

67 active listings (-58 from 1 month ago)

In the last 30 days 288 homes are under contract or have sold ! (+53 from 1 month ago)

Falls Church

191 active listings (-40 from 1 month ago)

In the last 30 days 269 homes are under contract or have sold! (+25 from 1 month ago)

Arlington

273 active listings (-14 from 1 month ago)

In the last 30 days 224 homes are under contract or have sold ! (+24 from 1 month ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold !

Mclean/Vienna/Oakton

87 active listings (-30 from 1 month ago)

In the last 30 days 94 homes are under contract or have sold ! (+17 from 1 month ago)

Observations

Plain and simple. NOVA homes are selling quickly. Our inventory continues to shrink and our sales in most places are still climbing. This can't continue.

Now is one of the best times ever to buy. Because of affordability, low interest rates, and now a $8,000 incentive from the government.

If you are thinking about buying within the next 3 months. Contact us

Spring time is just around the corner and there will be sure to have a lot more listings on the market but there will also be a lot more buyers.

Everyones situation is different, but if you want to see if now is the best time for you to buy. Please email us

But as for the numbers ....

These numbers tell us that people are buying real estate RIGHT NOW why ???? because its one of the best times to buy real estate. Northern Virginia is its own market and can not be compared to the rest of the US. Investors and first time home buyers know that right now is the best time to buy.

Real Estate should be considered for long term gain (3-5, 5-10 years) Not instant gratification which happend in 2003/2004 When you consider that you will probably be in this house for 5+ years, then now is absolutely the best time to buy, IF you are still living within your means.

Is Anyone Buying Homes Right Now

2009-03-23T10:44:00.002-04:00

FairfaxFirstTimeHomeBuyers.com

3/23/09

We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Overall : Inventory is starting to shrink, Less Bank Owned Properties are on the market, Multiple offers are every where, Sales continue to grow.

Check back at the end of the month to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

173 Active Listings (-1 from 1 month ago)

In the last 30 days 210 homes are under contract or have sold ! (+38 from 1 month ago)

Centreville

187 active listings (-43 from 1 month ago)

In the last 30 days 287 homes are under contract or have sold ! (+51 from 1 month ago)

Reston

142 active listings (no change from 1 month ago)

In the last 30 days 154 homes are under contract or have sold ! (+22 from 1 month ago)

Herndon

125 active listings (-5 from 1 month ago)

In the last 30 days 235 homes are under contract or have sold ! (+23 from 1 month ago)

Falls Church

231 active listings (-25 from 1 month ago)

In the last 30 days 244 homes are under contract or have sold! (+31 from 1 month ago)

Arlington

287 active listings (+6 from 1 month ago)

In the last 30 days 200 homes are under contract or have sold ! (+50 from 1 month ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold !

Mclean/Vienna/Oakton

117 active listings (+16 from 1 month ago)

In the last 30 days 77 homes are under contract or have sold ! (+19 from 1 month ago)

Observations

First Time Home Buyers!

2009-03-16T09:23:00.001-04:00

Hey, first-time homebuyer: How does $8,000 from your Uncle Sam sound?

Want an extra $8,000? If you’re a first-time homebuyer then we have a nice surprise for you.

Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers — an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions.

The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It’s not a deduction, it’s an actual credit. Unlike the $7,500 first-time homebuyer tax credit introduced last summer; this does not need to be repaid.

First timers who qualify can make no more than $75,000 in adjusted gross income if they’re single or $150,000 if filing jointly. The maximum tax credit is $8,000 or 10 percent of the sales price of the home, whichever is less. Three years residence in the property are required. As always, check with your accountant for details and be sure to submit IRS form 5405 when you file your taxes.

Brinks Home Security System

2009-03-06T12:18:00.001-05:00

Brinks Home Security System

We just partnered with Brinks Home Security. This means that if you want a security system we can help you get it for free ! All you have to do is pay the 30-40$ monthly fee.

Contact me asap if you are interested. I will have our Brinks representative contact you.

If you go to Brinks website you will end up paying over 500$ in installation fees. If you go through us, its free!

This is just another way we are helping our clients.

Is Anyone Buying Homes Right Now

2009-02-23T09:13:00.003-05:00

FairfaxFirstTimeHomeBuyers.com

2/23/09

We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Alexandria and Centreville and Fairfax continue to be our most active cities in NOVA!
We just started tracking Falls Church so that should be up there next month also.

Check back at the end of the month to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

174 Active Listings (-32 from 1 month ago)

In the last 30 days 172 homes are under contract or have sold ! (+43 from 1 month ago)

Centreville

216 active listings (-29 from 1 month ago)

In the last 30 days 238 homes are under contract or have sold ! (+44 from 1 month ago)

Reston

142 active listings (+19 from 1 month ago)

In the last 30 days 132 homes are under contract or have sold ! (+7 from 1 month ago)

Herndon

130 active listings (-46 from 1 month ago)

In the last 30 days 212 homes are under contract or have sold ! (-7 from 1 month ago)

Falls Church

256 active listings

In the last 30 days 213 homes are under contract or have sold!

Arlington

281 active listings (-9 from 1 month ago)

In the last 30 days 150 homes are under contract or have sold ! (+4 from 1 month ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold !

Mclean/Vienna/Oakton

101 active listings (-30 from 1 month ago)

In the last 30 days 58 homes are under contract or have sold ! (+4 from 1 month ago)

Observations

Free TGIF Meal !

2009-02-09T09:30:00.001-05:00

Thats right. Click on the link below for a free buy one entre get one entre FREE from TGIF

I have already used this coupon twice !

Enjoy this gift from us

Click on the link below for a free buy one entre get one free entre from TGIF :)

http://www.angelfire.com/art2/saracarol/backup/TGIFridaycoupon.pdf

Is Anyone Buying Homes Right Now

2009-01-13T11:51:00.000-05:00

FairfaxFirstTimeHomeBuyers.com

1/13/09

We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Alexandria and Centreville, VA are still our most active cities in NOVA!
Fairfax had a lot of movement also for the new year.

Check back every other Tuesday to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

206 Active Listings (-78 from two weeks ago)

In the last 30 days 129 homes are under contract or have sold ! (+35 from two weeks ago)

Centreville

245 active listings (-9 from two weeks ago)

In the last 30 days 194 homes are under contract or have sold ! (+6 from two weeks ago)

Reston

123 237 active listings (-20 from last week)

In the last 30 days 125 homes are under contract or have sold ! (-4 from last week)

Herndon

176 active listings (-23 from two weeks ago)

In the last 30 days 219 homes are under contract or have sold ! (+1 from two weeks ago)

Arlington

290 active listings (-11 from two weeks ago)

In the last 30 days 146 homes are under contract or have sold ! (-2 from two weeks ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days 497 homes are under contract or have sold !

This could be because of Fort Belvoir people coming in and homes are priced reasonably here and lot of older homes.

Mclean/Vienna/Oakton

131 active listings (-7 from two weeks ago)

In the last 30 days 54 homes are under contract or have sold ! (no change from two weeks ago)

Observations

Owners do not be discouraged if you are thinking about selling. If you have some equity built up and can sustain a little hit and are thinking of getting a single family home or moving closer to the city consider this.

*Numbers are not actual *

If you were trying to sell your TH and you really would like to get 400k for it but you have to take a 20% cut because of the market. Well you can now sell it for 320k YIKES thats true but look at this. Your next purchase a couple years ago would of cost you 600k but now because of the market they are taking a 20% cut. So this means you are getting your next home for 480k. That is a 40k gap you saved !! 120 k vs 80k Not to mention interest rates are so much lower right now than a couple years ago. Now if the market was like it was 3 years ago you would be losing that 40k but in this market you are gaining. You can not sell high and buy low. It just is not possible.

If you are thinking about buying within the next 3 months. Contact us

Spring time is just around the corner and there will be sure to have a lot more listings on the market but there will also be a lot more buyers.

Is Anyone Buying Homes Right Now

2008-12-30T10:17:00.002-05:00

FairfaxFirstTimeHomeBuyers.com

12/30/08

We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Alexandria and Centreville, VA are still our most active cities in NOVA! There was less movement these past 2 weeks because of the holidays so look for our next report to be a bunch of positives.

Check back every other Tuesday to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data. Which means the numbers will be lower then if we used any price.

Fairfax

284 Active Listings (+1 from two weeks ago)

In the last 30 days 164 homes are under contract or have sold ! (-17 from two weeks ago)

Centreville

254 active listings (-3 from two weeks ago)

In the last 30 days 188 homes are under contract or have sold ! (-16 from two weeks ago)

Reston

143 active listings (-4 from last week)

In the last 30 days 121 homes are under contract or have sold ! (-8 from last week)

Herndon

199 active listings (-19 from two weeks ago)

In the last 30 days 218 homes are under contract or have sold ! (-16 from two weeks ago)

Arlington

301 active listings (-13 from two weeks ago)

In the last 30 days 148 homes are under contract or have sold ! (-13 from two weeks ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold ! (Still)

This could be because of Fort Belvoir people coming in and homes are priced reasonably here and lot of older homes.

Mclean/Vienna/Oakton

138 active listings (+4 from two weeks ago)

In the last 30 days 54 homes are under contract or have sold ! (-2 from two weeks ago)

Observations

Interest rates have dropped again and now is one of the best times ever to buy. There are still a lot of great deals out there but the best ones are going fast. Average days on the market is still pretty high because of homes that are in poor condition and overpriced. We would be honored to help you buy a home. Contact us now if you are thinking about buying in the next 2-3 months.

Remember to stay within your means when buying your next home. You only have to put 3.5% down on a home. Ask us about these programs

Fairfax and Centreville were our biggest movers this past 2 weeks. With all this inventory and less buyers during the Holidays, there are many great buys still out there.

Spring time is just around the corner and there will be sure to have a lot more listings on the market but there will also be a lot more buyers. Around the holidays there are usually fewer buyers and few listings but because of the bank owned properties there are a lot of listings ! but still few buyers.

Interest Rates Drop !!

2008-12-22T09:15:00.008-05:00

Now is the best time to buy ! If you have 3-4% to put down. Roughly $10,000

If you wait to make the decision to buy and the interest rates go back up like they will. You could be paying roughly $200 more a month and thats almost $75,000 more over the life of the loan. Not to mention your loan amount that you would be pre approved at would be less, than what you would be pre approved for now.

Ask us how we can help you get a great deal in this market

December 18th, 2008

Supported by the Federal Reserve’s recent decision to cut its overnight federal funds rate to a range of zero to 0.25 percent, the 30-year fixed rate mortgage hit a 37-year low last week reaching 5.17 percent. That’s the lowest the 30-year mortgage rates have been since Freddie Mac began its weekly mortgage rate survey in 1971, noted Frank Northaft, Freddie Mac chief economist.

Fire Safety Tips

2008-12-17T11:00:00.001-05:00

Fire Safety Tips

With all the time we spend indoors during winter using more appliances, lights and heaters, experts say our risk of house fires jumps by more than 37%. By following these easy safety tips from the experts, you can keep your family safe this winter.

Unplug it.
Keep all non-essential appliances – like toasters and blenders – unplugged when not in use. They still draw energy when they’re plugged in, which can overload your wiring.

Clean the dryer hose.
Lint can accumulate in the hose behind the dryer, creating a fire hazard. Remove the hose every two years, clean it out, then run the dryer empty for about 20 minutes to blow out any remaining lint.

Follow the 3-foot rule.
Keep space heaters at least three feet away from flammable materials such as bedding, clothing, draperies, furniture and rugs.

Check power cords.
Especially check the cords of items like space heaters, which can go for months without use. Look for fraying before use, then check the cord 15 minutes after plugging it in. If it feels warm, unplug it.

TIP: Routinely check cords hidden under rugs. They can get damaged from walking or rolling your chair over them.

Use heavy-duty extension cords
For high wattage items, such as portable heaters.

TIP: Use surge protectors to handle multiple plugs – and protect your electronics from damaging power surges.

Biggest house fire spot.
It’s not the kitchen. It’s the family room where we spend most of our time and are most likely to use electronic devices, fireplaces and candles.

A fireplace screen can make time by the fire as safe as it is special.

Is Anyone Buying Homes Right Now

2008-12-16T11:55:00.002-05:00

FairfaxFirstTimeHomeBuyers.com

12/16/08

Alexandria and Centreville, VA are still our most active cities in NOVA!

Check back every other Tuesday to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data.

Fairfax

283 Active Listings (-6 from two weeks ago)

In the last 30 days 181 homes are under contract or have sold ! (-13 from two weeks ago)

Centreville

257 active listings (-48 from two weeks ago)

In the last 30 days 204 homes are under contract or have sold ! (-13 from two weeks ago)

Reston

147 active listings (-33 from last week)

In the last 30 days 129 homes are under contract or have sold ! (+3 from last week)

Herndon

218 active listings (-6 from last week)

In the last 30 days 234 homes are under contract or have sold ! (-18 from two weeks ago)

Arlington

314 active listings (-17 from two weeks ago)

In the last 30 days 161 homes are under contract or have sold ! (+3 from two weeks ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold ! (Still)

This could be because of Fort Belvoir people coming in and homes are priced reasonably here.

Mclean/Vienna/Oakton

134 active listings (same from two weeks ago)

In the last 30 days 56 homes are under contract or have sold ! (-9 from two weeks ago)

Observations

Interest rates have dropped again and now is one of the best times ever to buy.

Remember to stay within your means when buying your next home. You only have to put 3.5% down on a home. Ask us about these programs

Fairfax and Centreville were our biggest movers this past 2 weeks. With all this inventory and less buyers during the Holidays, there are many great buys still out there.

Is Anyone Buying Homes Right Now

2008-11-25T23:48:00.000-05:00

11/25/08

Check back every other Tuesday to see how much the Fairfax County Market has fluctuated.

If you want a detailed report on your neighborhood, please emails us !

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data.

Fairfax

289 Active Listings (+48 from two weeks ago)

In the last 30 days 194 homes are under contract or have sold ! (+57 from two weeks ago)

Centreville *Fairfax Countys best place to live, to get the most home for your money*

315 active listings (+48 from two weeks ago)

In the last 30 days 217 homes are under contract or have sold ! (+10 from two weeks ago)

Reston

180 active listings (-34 from last week)

In the last 30 days 126 homes are under contract or have sold ! (-5 from last week)

Herndon

224 active listings (-6 from last week)

In the last 30 days 252 homes are under contract or have sold ! (+17 from two weeks ago)

Arlington

331 active listings (-1 from two weeks ago)

In the last 30 days 158 homes are under contract or have sold ! (+1 from two weeks ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold ! (Still)

This could be because of Fort Belvoir people coming in and homes are priced reasonably here.

Mclean/Vienna/Oakton

134 active listings (+5 from two weeks ago)

In the last 30 days 65 homes are under contract or have sold ! (+1 from two weeks ago)

Observations

People are still buying ! There are great deals to be had. Affordability is at its best in years ! What does that mean. You get more house for a lower payment than you would have a couple years go. Interest rates just dropped and if they go back to where they were earlier in the week the difference you will pay a month is around 200$ a month !!

Remember stay within your means when buying your next home. You only have to put 3.5% down on a home. Ask us about these programs

Fairfax and Centreville were our biggest movers this past 2 weeks. With all this inventory and less buyers during the Holidays, there are many great buys still out there.

Interest Rates Drop !!

2008-11-25T15:57:00.001-05:00

I just wanted to shoot a note. Interest rates just took a huge dip today ! I am going to get more info from my Lender hopefully before Thanksgiving.

This means if you have been on the fence to buy , you need to get in the game today ! If interest rates go back up to where they were the other day , you overall payment goes way up and how much home you can afford goes way down!

A 300k loan last week will be over 10k more a year than a 300k loan today !

Is Buying A Home To Live In A Good Idea?

2008-11-24T08:50:00.002-05:00

Is buying a home to live in a good idea?

Anecdotal evidence suggests that in some markets investors are buying foreclosure properties at bargain prices. These properties are located in areas that appear to have good growth potential, and they generate enough rental income to at least offset the holding and maintenance costs. The deal needs to make sense financially regardless of whether there is a big run up in appreciation. The plan is to hold the property for the long term.

There was a time not long ago when investors bought condos and houses even if they didn't produce enough cash flow to cover the carrying costs. Prices were rising so quickly, they could afford a little negative cash flow. The holding period was short and the appreciation payoff was big. According to Standard & Poor's/Case-Shiller 20-city home-price index, prices increased almost 75 percent between February 2000 and February 2008.

In most housing markets, it's not possible to count on appreciation now. The market could be bottoming out in some places, according to some economists. Or prices could move lower before leveling off. It could be years before significant appreciation is again part of the housing picture. With this in mind, is buying a home to live in still a good investment?

Just as the lenders are moving back to basics in terms of qualifying borrowers for mortgages, home buyers should examine the fundamentals of home ownership to determine if they are good candidates.

HOUSE HUNTING TIP: The equity in your personal residence shouldn't be used to pay for vacations, education, new cars and credit-card debt. Many homeowners who participated in serial refinancing when rates were low and money was easy found they had no equity left when the credit crunch hit in August 2007. A good portion of these repeat refinancers now owe more than the current value of their home.

Along the same lines, it's risky to look at your home as a retirement account. It's not a good idea to rob your pension plans in order to purchase a home. This money should be kept for retirement. Some financial advisors suggest that you don't consider the equity in your home as part of your financial portfolio. After all, you will always need to live somewhere. Most people will always need to budget part of their net worth for housing.Buying a residence hoping for appreciation to increase your net worth is dicey. You may earn appreciation. Nationally, home prices have tended to rise over the long term. But, this doesn't mean that your home will appreciate during the time period you own it.

However, there are plenty of good reasons to buy your own home, if you can afford it. The government subsidizes the cost of home ownership by permitting taxpayers who itemize deductions to write off some or all of the mortgage interest and property taxes they pay. Restrictions do apply. So, check with your tax advisor before making a purchase.

Owning your own home gives you a sense of security. You can choose the community in which you live. You're not at the mercy of a landlord who might issue an eviction notice. If you buy with a fixed-rate mortgage, you know how much you'll be paying over time. Rents, in most places, are subject to increases. It doesn't make sense to spend money fixing up someone else's house so that it feels like yours. And, most landlords will have a say in what you can and can't do -- even down to paint colors.

THE CLOSING: But, if you own it, you can redecorate to your taste

By Dian Hymer

Home Buyers Pay Attention To Credit Scores !

2008-11-21T16:37:00.001-05:00

Why next year's home buyers should pay attention to credit scores today

CHICAGO (MarketWatch) -- If you're planning on waiting out this housing downturn, intending to buy a home when the coast is clear, you better start checking your credit reports now. There may be some surprises waiting for you.

Credit-card companies are reducing credit limits on some borrowers. And for some people, that may cause a drag on their credit score.

Here's why: A major factor in calculating a person's credit score is credit utilization, said Barry Paperno, consumer operations manager for Fair Isaac's myFICO division. When your total available credit shrinks, the percentage of credit that is being used goes up -- and that has the potential to do some damage to your credit score.

"That will become a problem for some consumers, and it's something that they need to be paying close attention to," said Steve Ely, president of Equifax Personal Information Solutions. Equifax is a credit reporting agency.

A good credit score is necessary to get the best loan rates, and for more than a year now lenders have been requiring higher scores as mortgage underwriting standards tightened.

Credit-card companies also are interested in controlling their risk, and that's why they're reeling in credit limits, said Andrea Ayers, president of customer management for Convergys, a customer-service firm that works for credit-card companies.

If your credit limit is cut, it might be difficult today to change the lender's mind.

"In past times, I might have said to call your creditor. But if they've taken that action to lower your limit, chances are not good that they will raise it," Paperno said.

In addition to cutting limits, credit-card companies have been making changes to interest rates and fees. They're also reaching out earlier to borrowers when they have a missed payment, using a "soft touch" to help them create payment plans shortly after the due date has passed instead of waiting a month, Ayers said.

A snowball effect?

Granted, not everyone is seeing their credit disappear. To determine where to make changes, companies look at customers' credit scores and their track record for paying bills on time, Paperno said. They also, however, base decisions on their experiences with people who have similar credit scores, he added.

If, say, a company's data shows that people with FICO scores of 710 or less have shown a higher pattern of risk lately, someone with a 700 score could very well be affected, he said.

Unfortunately, that creates the possibly of a consumer experiencing a "snowball effect," which could push his or her score down even farther, he said.

"Let's say lender 1 reduces your limit because it's tightening up on credit exposure. Your score drops," he said. With that lower score, "lender 2 is going to lower your credit limit," pushing your score down even more, he said.

This scenario hasn't played out very much yet because there is some lag time involved, Paperno said. It takes time for a reduction in credit to be reflected in a credit score, and it would take additional time for a second lender to react as well.

Those with credit accounts that haven't been used in a while might also be affected in this environment, said Cate Williams, vice president of financial literacy for Money Management International, which operates credit-counseling agencies.

"They granted you a product and they want you to use that product. And if you're not using a credit card, I could see the credit cards saying 'If you're not interested, we're not interested in keeping this on our books,'" she said.
Recently, lenders have been freezing home equity lines of credit as well, although a reduction in these lines shouldn't hurt a person's credit score much, if at all, Paperno said.

Don't panic, prepare

If you plan on buying a new home in the next year, there are some things you can do to keep your credit looking as good as possible.

-Check your credit report. Find out if there have been changes to your account limits, and make sure there aren't any errors. Look for any negatives on your report -- many negative items should be removed after seven or ten years.

-Don't get close to card limits. About 30% of your FICO is based on the ratio of the amount that is owed on active cards to your available credit. But utilization on individual cards is important too; getting close to the limit on one card will also reflect negatively on your score. Pay down balances as much as possible.

-Keep accounts active. Accounts get closed when there hasn't been activity on them for a while. Make small purchases on cards a couple of times a year -- then pay them off right away -- to keep accounts active and your available credit up.

-Pay bills on time. This should an easy one, but could prove challenging for people who could lose their jobs in the months ahead. Be proactive, and contact the credit-card company as soon as possible if you're having problems paying your bill. Payment history counts for about 35% of your credit score.

-Don't apply for new cards. Store cards are tempting when they offer discounts at the register, but don't bite. Applying for that card will have a negative effect on your score in the short term.

TGIF Fridays Free Meal !

2008-11-17T11:43:00.002-05:00

Ok we received this free buy one entre get one entre free coupon from TGIF Friday's and we had to share this with our clients and friends.

Click on this link here and you will be directed to the pdf file. All you have to do is print it and use it before the end of the month !

Any questions, just email me

I already used it this past weekend so it works ! ENJOY

Now Is The Time To Buy A House

2008-11-14T12:12:00.004-05:00

Read this Article from Washington Business Journal dated November 7, 2009. By Craig Stent

Friday, November 7, 2008
Now is the time to buy a house
by Craig Strent

Baron Rothschild famously said, “You buy when there is blood on the streets.” We all know there’s blood on the street right now. The stock market is on a daily roller coaster ride, unemployment is rising and we’re facing a potentially lengthy downturn in the economy.

The housing market’s blowup has been roundly blamed for leading us down this road, but it will also be the engine that drives us out of this mess. To understand where we are now, we have to understand where we have been.

Homeownership rates have skyrocketed in recent years, but it has not always been that way. While the Community Reinvestment Act enacted under President Carter in the late 1970s started us down this path toward higher homeownership numbers, the great push for homeownership really took off in the 1990s and has reached record levels in the current decade. Government support of Fannie Mae and Freddie Mac essentially amounted to a form of subsidized homeownership, which encouraged banks to make loans that they should not have.

Early in his term, President Bush championed what he called an ownership society” and challenged lenders to help increase homeownership. Wall Street responded with numerous new loan products structured as complicated financial instruments, slicing and dicing them into different categories in an attempt to measure risk and then offloading them as collateralized securities across the globe. Qualifying for a mortgage became an afterthought.

Risk-based pricing — a system where rates were adjusted depending on the buyer’s qualifications — took over, and all applicants could qualify as long as they were willing to pay. Indeed, with financing so easy to come by,
buyers flooded the market, the basic laws of supply and demand kicked in and housing prices soared.

We all know what happened next, which brings us to where we are now, in the midst a market gripped by fear.

Why should you not be afraid if you live in the Washington area? The federal government is about to pump hundreds of billions of dollars into the national economy, and many local companies will benefit. Federal spending under the new bailout plan is sure to play a large part in our local housing market’s recovery. Much of the new spending will be funneled toward the Beltway contractors that support the government. Law firms, commercial real estate brokers and service providers that support them will also benefit.

Add to this numerous other positive factors. Thousands of renters have been sitting on the fence for a while,hoarding cash and waiting for the right time to buy. Long-term interest rates are not far from their historical lows.
Housing inventory levels are still high, and sellers are more reasonable than they have been in years.

Prince William County, which has been racked with the region’s worst foreclosure rate and has endured the steepest drop in local home values in the past few years, is now drawing in buyers at a dramatically increased pace compared with this time last year. High inventory and low sales prices in the county are spurring the revival.

The biggest myth out there is that home financing has dried up and that you need a lot of money down to buy nowadays. Not true. With the federal bailout and takeover of Fannie and Freddie, we’ve got a pending influx of cash from the federal government, low interest rates, plenty of homes to choose from and sellers willing to help.

That sounds a lot better than competing with 10 other buyers and the seller extracting a pound of flesh in the process. Remember, you make your money in real estate when you buy, not when you sell. Now is a good time to buy.

Is Anyone Buying Homes Right Now

2008-11-11T13:28:00.000-05:00

11/11/08

My biweekly report is here ! Check back every other Tuesday to see how much the Fairfax County Market has fluctuated.

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data.

Fairfax

241 Active Listings (-10 from two weeks ago)

In the last 30 days 137 homes are under contract or have sold ! (-12 from two weeks ago)

Centreville *Fairfax County best place to live, to get the most home for your money*

267 active listings (+9 from two weeks ago)

In the last 30 days 207 homes are under contract or have sold ! (-30 from two weeks ago)

Reston

214 active listings (same as last week)

In the last 30 days 131 homes are under contract or have sold ! (-8 from last week)

Herndon

230 active listings (-8 from last week)

In the last 30 days 235 homes are under contract or have sold ! (-31 from two weeks ago)

Arlington

332 active listings (+14 from two weeks ago)

In the last 30 days 157 homes are under contract or have sold ! (-10 from two weeks ago)

Alexandria

Over 500 active listings (Still)

In the last 30 days over 500 homes are under contract or have sold ! (Still)

This could be because of Fort Belvoir people coming in and homes are at a great price here.

Mclean/Vienna/Oakton

129 active listings (+25 from two weeks ago)

In the last 30 days 64 homes are under contract or have sold ! (-7 from two weeks ago)

Observations

Yes the numbers are coming down slightly but over all they are still high. Especially when you have over 100 under contract or sold in the last 30 days. I am sure a lot of people are waiting to see what the economy and what the new president will do, but things are just kind of leveled out right now in Fairfax County .

What I Did This Past Week

2008-11-09T15:24:00.004-05:00

If all you care to read is about Northern Virginia Real Estate then you probably should just scroll down :) I will refrain from work related activities as much as I can in these blogs :) I try to stay active in the Fairfax Area and from time to time I am sure there might be a good recommendation in this blog for places to go or see.

I help coach a 14u baseball team and our season just came to an end. They are a travel team and the best 14u kids in northern virginia, we lost 3 games all fall! My mens softball team fall season also came to a close and we got 2nd place in division 7. We messed up the last game of the season or else we could have won 1st. Needless to say I am going to have lot more time on my hands !

And that brings us to Halloween. Every year around Halloween time I try to have a HUGE halloween party for all my friends and their friends. My fasciantion with Halloween all started back in college, when our school had a massive haunted halloween house that they transformed each year and had 1000's going through each weekend. I worked as a zombie or some other dead scary person for 4 years and then my 5th year I had my own room !!! We had a scary childs bedroom and the theme was jack in the box with scary clowns everywhere, it was awesome !!

But anyway, we had our halloween party on Nov 1st and it was a hit again ! at one point we had close to 150 people in our townhome ! lol To our surprise the neighbors next store, never called the cops (every party we have had, she has called the cops) So it was a hit and to this day, I am still cleaning up the house !

This past week was very unique and fun. I totally recommend doing this by the way. We went for a stroll through old town Alexandria. There are many walking tours and self guided tours and its just so much fun to see the character there. If you get a chance you need to walk by Lord Fairfax's house and just imagine living there! It is directly across the street from George Washingtons Alexandria townhome.

So on that theme of going back in time and finding out more about our US history, the next day we went to Mt. Vernon. I had not been here since highschool and last time I was here was 2 years ago for a wedding, but at that time we just stayed in the restaurant (excellent by the way)

So we decided to do the National Treasure tour, based on the movie, it was an extra 5$ and you go to a couple places that ordinary guest dont get to see, like the basement of George Washingtons home ! I will not ruin the tour for you, but if you have a day to spend at Mt. Vernon its a lot of fun ! I heard during Christmas time they open up the top level of the home and that this is the only time of the year you get to go up there. Might be worth checking it out.

This upcoming weekend two of my friends are having a huge bday blow out that already has over 100 people attending ! I am sure there might be some excellent stories coming out of this.

Closing A Real Estate Deal In A Bad Housing Market

2008-11-09T14:23:00.000-05:00

Written by Glen Curtis (Denver Post)

When the housing market slumps, it's often best to take your home off the market and wait it out - but not everyone has that luxury. Many people are forced to go through with a sale because of a job transfer or a personal liquidity crisis. But even if you're selling in a very bad market, there are things you can do to make the best of a raw deal. Read on for the top tips on how to close a real estate deal in a down market.

Tip No.1: Sweeten the Deal

In declining markets it is extremely important to be cognizant of comparable properties in the surrounding area and to price your home at a level where it will entice potential buyers to view it and ultimately bid on it. In other words, the seller must reject the temptation to hold out for top dollar or to price the home at the upper end of what the market will bear.
There are three easy steps you can take that will give you sense of what similar homes are selling for: * Attend open houses * Peruse the newspaper for local listings * Ask a real estate agent to print up comparable listings on the multiple listing service (MLS)

Tip No. 2: Keep It Simple

You should also eliminate or reduce the number of "contingencies" that you may have otherwise insisted be in the contract. In other words, be flexible and don't make the sale contingent upon your finding a new home or some other arbitrary factor. Make your conditions as simple and straightforward for the buyer as possible, and you'll find they are more apt to sign on the dotted line.

Tip No.3: Throw Some Bones

Let's face it - there is a lot of competition out there when it comes to selling a home. In fact, at any one time, there are literally millions of homes for sale throughout the country! In order to make your home stand out from the crowd, you may have to take some extraordinary measures. These extras don't have to cost you a lot of money - you just need to give an interested buyer that extra push toward choosing your house over another.For example:

* Compensate the buyer for any points he or she might have to pay in order to obtain a mortgage. You can do this by reducing the price. (Read more in Mortgage Points – What's The Point?) * Offer to pay for any attorney's fees the buyer might incur with the sale. (See The Benefits Of Using A Real Estate Attorney for the advantages of consulting these professionals.) * Be more flexible with regard to the buyer's requests. More specifically, if the buyer requests that a window be replaced or a room be painted, consider satisfying that request.

Remember, in a down market it's the little things that will help close the deal. Also remember that if you are not accommodating in this type of market, a buyer will simply move on.

Tip No.4: Hire a Professional

Real estate agents often charge commissions that can range up to 6% of the sale price of the home. That's expensive! And it is a major reason why so many individuals decide to place a "For Sale By Owner" (FSBO) sign on their front lawn and try to go it alone.

The problem with FSBOs is that they often fail to draw traffic. In fact, very few people ever see the sign on the seller's front lawn or the tiny postage-stamp-sized advertisement they've placed in the local paper. Real estate agents, on the other hand, motivated by a commission, will aggressively contact potential buyers and direct them to your home. Plus, they offer multiple listing services, which makes your listing accessible to anyone who's looking to buy.

There are no guarantees that a real estate agent will ultimately be successful at selling a home, but hiring a good real estate agent tends to increase the likelihood that a qualified buyer will come out to see your house, making an offer more likely.

Tip No. 5: Get Out of Town

Before an individual buys a car, he or she typically wants to sit in the vehicle and test drive it to see if it "fits". The same is true for a home. In fact, would-be buyers want to walk through a home and take their time exploring every nook and cranny to make sure that they are making a wise choice. Enter the open house.

Open houses are designated points in time when potential buyers can walk through a home and ask questions. They can be a very valuable tool when it comes to marketing a home - especially when they are held by a real estate agent. Folks shopping for a home don't feel comfortable opening up closets and drawers and talking with their spouses about what they like and don't like in front of the homeowner - they want adequate time and freedom while doing their due diligence.

The seller should also be prepared to place a lock box on their front door so that the home will be accessible to both real estate agents and potential buyers at all times. The advantage of having a lock box is to make sure that would-be buyers will have the ability to walk through the house when you are at work or out running errands. Nobody wants a seller lurking nearby while they peruse the home - it's uncomfortable.

Tip No.6: Raise the Bar

In a buyer's market, the onus is on the seller to make the home as attractive as possible and to make it stand out from the pack. That is why many sellers retain home stagers to help them sell their home. A home stager is a consultant that will recommend cosmetic changes so that the home is more attractive to would-be buyers. Typical recommendations include removing clutter from a room, rearranging furniture, painting or adding more appealing décor. Your home should also be spotlessly clean.
Stagers' fees vary, but usually range from a couple of hundred dollars to just over $1,000, depending on the range of services being offered. If you think you have a keen eye for detail, you could also take this task on yourself.

Tip No. 7: Don't Be Cheap

In order to make sure that real estate agents pay attention to your property and are eager to show the home to prospective buyers, sellers must provide incentive. That is, they must be willing to pony up the full 6% commission to the broker that sells their home. You can negotiate, of course, but remember that the idea is to give the broker/agent an adequate incentive to market your home ahead of others that he or she maintains in inventory.
If you want to negotiate your agent's commission, consider establishing "breakpoints" in the listing agreement. In other words, establish terms so that the agent of record will receive 6% if, for example, the home sells within the first 60 days. If the home sells within 60-90 days, a 5% commission might be agreed upon, and so forth. Again, the idea is to persuade the agent and the listing firm to give your property as much attention as possible.

Bottom Line

Sellers looking to unload their homes in a down market must be flexible with regard to both price and contingencies. They should also be prepared to enlist the help of an agent or broker to help them better market the home. For those who follow the above tips, it is possible to sell your house successfully, even in a faltering real estate market.

Service Providers

2008-11-09T12:10:00.000-05:00

We hope this list of service providers is beneficial to you. If you have any questions or if we are missing a service provider for your needs.
Please contact us asap !

We have used many of these service providers throughout the years and they have done a great job for us.

We are still compiling the list and will update it shortly.

Moving Out of State

We do business and have contact with realtors all over the US. Ask us first if we know someone in the area you are moving to. Do not blindly choose a realtor. Get someone you know will do a good job !

Basic Lawn Care & Landscaping

Matt Pophin - 540-421-2243

Roofer - Perez General Contractors
Ray Perez - 703-587-5008 , Cell: 703-677-5574

Well - Northern Virginia Drilling

Vincent Eberelein - 703-361-6859

TV

Direct TV - 1-800-494-4388

Verizon Fios - 1-888-591-6075

Internet

Verizon DSL- 703-954-6222

Phone

Verizon - 703-954-6222

Vonage - 1-800-701-9039

Power

Dominion - 1-888-667-3000

Novec - 703- 335-0500

Gas

Washington Gas - 703- 750-1000

Water

Fairfax Water - 703- 698-5800

Prince William County Water - 703- 335-7900

Arlington Water - 703-228-6570

Movers - Around Town Movers

Jason Young - 703-200-1963

HVAC - B&B Air Conditioning and Heating

703-560-9444 Fairfax
703-860-2477 Reston
703-644-1000 Springfield
703-524-6700 Arlington

Windows and Siding

Dennis Lee - 703-929-6792

Plumber

Electrical

Deck Repair

Painting

Carpet

Bathroom and Kitchen Remodeling

Fairfax County Crime Statistics

2008-10-24T11:00:00.004-04:00

Below is the link to a very good website that details crime statistics in Fairfax County.

You have to scroll down to the bottom of the page. Click on the disclaimer that you accept and you will be directed to the easy to use page.

Fairfax County Crime Website

Is Anyone Buying Homes Right Now

2008-10-23T10:06:00.004-04:00

10/19/08-10/25/08

Ok I am going to start a weekly report on how well homes are selling right now. Check back each Tuesday to see how much its fluctuated.

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data.

Fairfax

251 Active Listings (-2 from last week)

In the last 30 days 149 homes are under contract or have sold ! (+6 from last week)

Centreville

258 active listings (+4 from last week)

In the last 30 days 237 homes are under contract or have sold ! (-18 from last week)

Reston

214 active listings (same as last week)

In the last 30 days 131 homes are under contract or have sold ! (-8 from last week)

Herndon

238 active listings (+13 from last week)

In the last 30 days 266 homes are under contract or have sold ! (-8 from last week)

Arlington

318 active listings (-1)

In the last 30 days 167 homes are under contract or have sold ! (-16)

Alexandria

Over 500 active listings

In the last 30 days over 500 homes are under contract or have sold !

Mclean/Vienna/Oakton

104 active listings

In the last 30 days 71 homes are under contract or have sold !

Observations

So yes these numbers tell us that people are buying real estate RIGHT NOW why ???? because its one of the best times to buy real estate. Northern Virginia is its own market and can not be compared to the rest of the US. Investors and first time home buyers know that right now is the best time to buy.

Everyones situation is different, but if you want to see if now is the best time for you to buy. Please email us

Real Estate should be considered for long term gain (3-5, 5-10 years) Not instant gratification which happend in 2003/2004 When you consider that you will probably be in this house for 5+ years, then now is absolutely the best time to buy, IF you are still living within your means.

Consider this quote from Donald Trump

"Well, it's both a very tough time and a great opportunity. There are great opportunities right now for people when you say average family. It's an unbelievable time to buy a house and especially if a bank happens to own it because they've put the money in so it's not a question of getting financing. The money is already there. Go out and make a deal. The banks want to unload their stock. Go out, see what they have, get yourself a great house, they will give you financing." --Donald Trump on "Larry King Live", (transcript), CNN.com, Sept. 18, 2008

Is Anyone Buying Homes Right Now

2008-10-16T13:49:00.003-04:00

YES let me repeat YES

Forget what the media says... lets look at the FACTS.... you can then make up your own mind

Since most of the readers on this blog are first time home buyers, I will keep the price under 400,000 for our data.

Fairfax

253 active listings

In the last 30 days 143 homes are under contract or have sold !

Centreville
* If you really want to look at all these listings or have it interpreted please email me. For now , just trust me, not what the media is saying.

254 active listings

In the last 30 days 255 homes are under contract or have sold !

Reston

214 active listings

In the last 30 days 139 homes are under contract or have sold !

Herndon

225 active listings

In the last 30 days 274 homes are under contract or have sold !

Arlington

319 active listings

In the last 30 days 183 homes are under contract or have sold !

So yes these numbers tell us that people are buying real estate RIGHT NOW why ???? because its one of the best times to buy real estate. Northern Virginia is its own market and can not be compared to the rest of the US. Investors and first time home buyers know that right now is the best time to buy.

Everyones situation is different, but if you want to see if now is the best time for you to buy. Please email us

Real Estate should be considered for long term gain (3-5, 5-10 years) Not instant gratification which happend in 2003/2004 When you consider that you will probably be in this house for 5+ years, then now is absolutely the best time to buy, IF you are still living within your means.

Consider this quote from Warren Buffet, perhaps the world’s most famous investor: “Most people get interested in real estate when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well. The dumbest reason in the world to buy real estate is because it’s going up.”

Centreville Update

2008-10-10T10:47:00.002-04:00

Again I must reiterate. Centreville is the best place to buy if

You want more house for your money
You work outside the beltway

Single Family Homes

Lets look at the single family homes in Centreville under 400k These will be rare but there are some good ones here and there.

There are 20 active single family homes

And as you can see by this next stat. They are not lasting long on the market in Centreville.

21 single family homes are under contract or have sold in the last 30 days

Townhomes

Now lets look at Townhomes under 400k. There will be a lot of these !

There are currently 187 active townhomes. To many to list right here !

And our numbers now tell us that people are buying in Centreville and buying quickly !! because ....

There are currently 208 ! townhomes under contract or have sold in the last 30 days

Condos

There are not a great number of condos in Centreville but lets see how well these are doing.

There are currently 27 active condos for sale

13 condos are under contract or have sold in the last 30 days

Most people in Centreville are just going to buy a townhome because for that price they would be getting a condo ! closer in towards the beltway.

So if you have any questions about centreville and how we can help you realize your real estate goals. Please contact us

Condo Real Estate Market in Fairfax County and Arlington

2008-10-06T10:24:00.003-04:00

Ok we have had a lot of interest lately in Condos. So I am going to go over the numbers for our area.

For this blog I want to look at the condo numbers for those that will use the metro regularly. So these numbers reflect Fairfax County and Arlington that are within 1 mile to the metro.

Lets start our price under 350k which is a good starting point for a first time home buyer.

Active Condos 98

Sold or under contract in the last 30 days - 56

These numbers tell us that Condos are selling pretty well in this price range. It is a buyers market because based on these numbers if you were to sell your condo it would take roughly 45 days to sell if no new condos came on the market. If you are priced right it will sell much more quickly.

So with gas prices increasing, interest in Condo developments will become more prevalant. They are typically less hastle and closer to shopping, work, etc.

If you would like to see any of these condos please email me

Real Estate Home Inspection

2008-10-02T11:15:00.002-04:00

VA Home Buyers, Sellers & Realtors®: Prepare for the Home Inspection!

A couple years ago, the real estate market was so crazy that many buyers were waiving their right to a home inspection just so the seller would accept their offer. But those days are over and in the current buyer's market, the inspection period is once again being used as a time to negotiate price. Although each contract is different, most Virginia home buyers have a 10-day inspection period. During this inspection period, buyers can generally cancel the contract based on their inspections and receive a refund of their earnest money.

As a result, the inspection period is a very nerve-racking time for many real estate agents and sellers. While most experienced Realtors® want their buyers to have a thorough home inspection, some real estate agents are scared to death that an experienced home inspector like myself will 'blow the deal' and cost them a commission.

But in my experience, most buyers don't want to cancel their contract when the inspection reveals problems. Some buyers do, but usually the buyers will ask for major problems to be repaired, or for monetary compensation in lieu of repairs. Sometimes, sellers will be offended or will refuse to negotiate based on the inspection and it does blow the deal. But usually, the buyers and sellers come to a reasonable compromise and the deal closes.

I'm often asked by sellers and real estate agents if there's anything they can do to 'prepare' for the inspection. Here are some things that can be done to make the home inspector's job easier:

SELLERS & SELLER'S AGENTS:

1. Make sure ALL utilities are on prior to the inspection. Most sellers keep the utilities on while their home is for sale, at least the electricity anyway. But sometimes the gas or other utilities will be off if the home was vacant for an extended period of time. Foreclosures and bank owned properties usually do not have the utilities on. If the gas is turned off, the inspector cannot operate gas appliances such as the heater, water heater, stove, etc. There are still many items that can be inspected, but you will not get the best inspection possible if any of the utilities are off. If the water is off, I will not be able to properly evaluate the plumbing or anything else which uses water. If the electricity is off, I cannot inspect anything that requires power.

My home inspection company always asks the client or Realtor® who makes the inspection appointment to verify that all utilities are on, but sometimes the gas or water company doesn't have it on when they say they will. If I'm unable to inspect something due to the utilities being off and I need to come back to the property, I have to charge the client a re-inspection fee (currently $100, and likely to increase soon due to gas prices). Even when it's not the buyer's fault, the buyer is the one who usually ends up paying it. A good buyer's agent will insist that the sellers reimburse the buyer for this re-inspection fee since it's usually the seller's responsibility to have the utilities on for the inspection (I believe the standard AAR contract requires this). But this is a cost that can be avoided altogether with some prior planning.

2. Unlock gates and remove locks from electrical boxes, sprinkler timers, pool equipment or fences, etc. Basically, unlock everything that's locked so the inspector can access it.

3. Secure your pets if necessary. I love animals and I frequently have animal friends accompany me through the house as I do my inspection. One time, I even had about a half-dozen weiner dogs follow me through a two-story house I was inspecting (have you ever seen a weiner dog try to run up stairs!) I realize I'm in their territory and I try to introduce myself to the pets in a non-threatening way. I don't mind being followed and I even enjoy interacting with the animals. But if you have a large or aggressive pet that needs supervision or restraint, please do so! In the thousands of home inspections I've performed, I've never been attacked by a pet - but I've had a few big dogs I wasn't sure about that were definitely a distraction. Also, if you have a pet that likes to sneak outside when the door is opened, please make me aware so I can watch out for him/her!

4. Move ALL items that may limit the home inspector's access. And please don't stuff everything in the garage or in closets, because I have to inspect in those areas too! Home Inspectors are not going to move personal items to inspect behind or underneath them. If access or visibility is obstructed, that area will not be inspected. This isn't because we're being lazy, but moving things really isn't a home inspector's job. In fact, the state standards specifically say home inspectors are not required to move personal items, furniture, equipment, etc. And it's really best for the homeowner that we don't move their stuff. Most homeowners wouldn't want us to, and we don't want to take a chance of breaking something (which sometimes happens when you start moving stuff).

5. Replace bad light bulbs. This makes my job easier and I won't call a light fixture bad when it's really just the bulb. I have a tool I can screw into the light bulb socket to test the light if it won't come on, but it will only fit regular light bulb sockets.

6. Don't try to hide stuff with last minute paint or repairs! This never works and will likely call more attention to the area. For example, painting the ceiling to cover a water stain doesn't keep me from knowing about a roof leak. I'll still see the evidence on the roof and in the attic. Likewise, fresh caulking in the shower may cause me to look more closely at that area.

BUYERS & BUYER'S AGENTS:

1. Buyers should be present at the inspection. The scariest way for a buyer to learn the results of their home inspection is by reading the report. If a buyer is at the inspection, they can ask questions about the problems that are found and the repairs that are necessary. They can ask questions like "is that common for a house this age?". As a home inspector, it's my job to make sure my clients learn as much information as possible from my inspection. I report on everything I see, but I'm not doing my clients any favors if I scare them unnecessarily. Sometimes, a big list of defects in the home inspection report can scare an unprepared buyer out of one deal, only to find the next house they put under contract has most of the same problems (because the problems are common for the age/type of house). So I make sure my clients understand as much as possible about the problems I find, and those problems are put in perspective. A client who comes to my inspection leaves with an understanding of what problems I found, and a good idea which ones are major expenses. When clients are not at the inspection, I often get frantic phone calls from buyers who are worried about something that's really no big deal. But when they read the report without the ability to be there, see it and ask questions, it's much more scary.

Many buyers are out-of-state and cannot attend the inspection. But if at all possible, the buyers should attend the inspection. A normal inspection takes several hours, and I know it's boring to sit around that long while the inspector inspects! So ideally, the client and agent should show up during the last half hour of the inspection (ask what time that will be when you make your appointment). That way, the inspector can give the client and agent a summary of what was found and address their questions.

2. Verify that all utilities are on.

3. Understand what a home inspection is, and what it is not. A pre-purchase home inspection is an opportunity for the buyers to learn more about the home's condition before they own it. Most buyers schedule their home inspection while they can still back out of the deal or negotiate repairs/money.

While sellers may agree to make some repairs, buyers need to understand that a home inspection report is not intended to be a repair list for the seller (except perhaps on new homes/warranty inspections). Even on brand new homes, I will usually find dozens of problems. So a home inspection report with only fifteen deficiencies is a pretty clean house. But when a first time buyer who's never had a home inspection and thinks they're buying the perfect house gets a report with fifteen deficiencies, they can be scared to death. Or they may expect the seller to repair every single item, which almost never happens in a re-sale situation. Unreasonable expectations from one party can blow a deal.

In short, buyers and sellers need to be prepared, and know in advance what to expect from the home inspection. From my experience, fear of the unknown is the primary reason most deals fall out of escrow after the inspection. But even when the home has problems, a home inspection should remove both the fear and the unknown, giving the buyers confidence in their purchase rather than scaring them away. Now don't get me wrong, if the house has several expensive, unexpected problems, there's no amount of preparation that can overcome that. But knowledge is power, and the home inspection goes much smoother when all parties are prepared and know what to expect.

Written By: Scott Hubbard
Certified Home Inspector, ASHI® Member

Herndon Real Estate Report

2008-10-01T11:49:00.001-04:00

10/1/08

Despite what the media says Northern Virginia can not be compared to the rest of the US. Yes our house prices have fallen but they are also not falling as much and hold alot better because of our proximity to DC and the amount of people that are drawn to our area each year.

If you have never bought a home before... now is your chance ! A couple years ago you were probably sitting on the sideline thinking there is no way I could buy a place right now, .... but I want to. Now is one of the best times in our area to buy. So don't delay.

Ok lets take a more in depth look into the Herndon Housing situation.

Condos active - 42 Total

Most of these are in the 200-350 range.

Sold or under contract Condos in the last 30 days - 30 Total

Now we have talked about in recent blogs the absorption rate to define how long if you list your home on the market will it take to sell. Well if you price your condo right in Herndon it should sell in a little over a month.

Now for buyers, if you have made the decision that you want to live in Herndon, then after you look at around 10-15 condos you should be able to narrow down to 2-3 that you like. And soon after that you should be able to spot the one that you must have. You don't have a lot of time and should then submit an offer, after you have found the one you want. The under 400k price range is staying very active in Fairfax County and as you can see from the numbers especially in Herndon. If you delay ... you might miss out on the condo you loved.

Now lets look at Townhomes in Herndon. Lets move the price up slightly to adjust.

350k - 450k

There are 16 active townhomes in this price range

and there are 11 that have gone under contract or sold in the last 30 days

If you would like to see the data for townhomes under 350k, please
email me.

If you are interested in Centreville Real Estate Reports please visit my other blog

http://centrevillevarealestate.blogspot.com/

or my main blog for more Fairfax County reports

http://fairfaxfirsttimehomebuyers.blogspot.com/

Fair Lakes Real Estate Report

2008-09-30T13:39:00.003-04:00

Ok we are going to look at what is available in Fair Lakes. Which is located in Fairfax, VA

Alot of the information you may want to know can be found at the their website.

http://www.fairlakes.com/

But this is an excellent place to live. It is a little city within a city. It is situated in between all the major highways (I-66, rt-50, FFX parkway) and is easy access to where you need to go. There are lot of great neighborhoods or condo developments available.

Lets look at what is available under 400k

There are 58 active listings in the Fair Lakes area

There are 14 sold or under contract listings in the Fair Lakes area

Now about 95% of these are condos. Because townhomes in the Fair Lakes area are around 400k-550k There are some great opportunities to get a townhome right around 400k but they are rare and you have to act quick.
Fairlakes is a lot newer than most of fairfax so that contributes to the higher price of the townhomes.

But there are some great condos and some new construction condos available at some really great prices. Email me if you have any questions

Take a look at my Centreville Blog Here

Easy Ways To Green Your Home

2008-09-26T16:45:00.003-04:00

Watch this Video and see why its important to Green your home

http://www.sfrealtors.com/video/mris/short

Fall is a great time work on projects around the home that reduce your environmental impact. Even if you are not making big changes, such as replacing old leaky windows or installing ceiling fans, there are still small things that can be done around the house to minimize energy consumption and reduce your carbon footprint. Read on to learn more about how to make simple, sustainable adjustments to your home.

Plug household appliances such as computers, printers, televisions and microwaves into a power strip that can be turned off at night. Even when these items are not in use their "standby" consumption can be equivalent to that of a 75 or 100 watt light bulb running continuously.
Use the dishwasher. Newer dishwashers typically use only 4 or 5 gallons of water, while washing a sink full of dishes by hand can require up to 15 gallons of water. Not only will you avoid wasting water, you'll also save the energy your water heater would have used on those additional gallons. Air dry your dishes also !
Adjust your thermostat. A difference of just two degrees you could reduce your household's carbon dioxide emission by 2,000 pounds, in addition to providing significant savings on your utilities bill. In the fall, keep your thermostat at 76 ° F or higher.
Keeping household appliances clean and up to date can significantly curb your household's energy consumption. Schedule your heating and cooling system for a checkup every 2 years. Be sure to clean the filter or coils monthly on your air conditioner and refrigerator to ensure they are working efficiently.
Prevent leaks. Insulating your water heater and weather-stripping or caulking around windows and doors in your house could save up to 420 lbs of carbon dioxide emissions a month.
Switch to Compact Fluorescent Light (CFL) bulbs. CFLs use significantly less energy and can last up to ten times longer then standard incandescent bulbs. Replace five of the most-used lights in the house with CFLs and enjoy reductions in heat production, energy use, and electricity bills!

Faircrest Centreville VA Real Estate Report

2008-09-25T11:21:00.001-04:00

For more information on the Faircrest Community in Centreville VA visit our other blog

HERE

Arlington Housing Report

2008-09-24T10:43:00.003-04:00

Ok we have had a good number of people ask about the condo situation for first time home buyers in Arlington. So I am going to give an overview of that area.

Lets look at and analze the numbers.

I did a search for under 400k for only condos in Arlington. There are 243 active condos for sale. To many to list in this blog. If you would like to see them, just email me.

There are 123 that are currently under contract or sold in the last 30 days.

What our numbers are telling us so far is these condos are averaging sitting on the market for 2 months. Why ? because its a buyers market and buyers are being picky. Foreclosure are up and prevelant in Arlington and owners are relectant to drop the price of their condo in the first month, then they realize they need to.

There are some major advantages of owning condos now and especially in Arlington. Less driving which saves on gas. In the future, there could be a steady dose of people wanting to buy condos because of this very reason. Also the way Arlington is situated, you have just about everything at a walks distance or 1 or 2 metro stops away.

The newer the condo development, the better chance your condo will holds its value. Not to say the old ones wont, but buyers right now want luxery. What extras am I going to get with this purchase. You can always fix up an older condo also. But you need to evaluate the exterior also, which you can not control.

Lets look at some of the bottom level pricing of condos in Arlington. Defintily worth looking at buying with this low of a mortgage payment. Click on each to see whats available.

Condos under 150k- 12

Condos under 250k - 63

Now there were 9 under contract or sold in the price range under 150k so that means these are going fast. Under 150k to live in Arlington is a steal !

I even saw a few 3 bedroom units in this 250k price range. The rental rates in Arlington are strong. So get a roomate and your mortgage payment just dropped considerably.

Let me know if you have any questions or would like more information.

Email me

Centreville Housing Report

2008-09-23T10:52:00.003-04:00

Just a quick update since my last report for Centreville.

9/23/08

In the last 7 days since my last report 10 homes have closed and sold.
This is townhomes/condos/single family homes under 350k

With the dramatic decrease in interest rates by the feds, it looks like more first time home buyers are going to get into this great market in Centreville.

Faircrest

Lets look at Faircrest community in this report. Most of Faircrest was built around 2004. Very nice town homes development but depending on where your home is situated, there is not that much extra parking for guests.

Faircrest is the newest community in Centreville. It is also a bit more pricey. We had to move our starting point to $450k and we only found around 9 homes for sale.

Prices have come down here but... for the most part because it is a newer community, it is holding its value.

Active Homes For Sale

Remember these blogs are geared toward first time home buyers. If you can afford more than our starting point searches. Please email me and I will be glad to get you the information on the homes priced a little bit higher.

Herndon Real Estate Report

2008-09-17T11:41:00.004-04:00

As of today 9 / 17 / 2008

Herndon is situated in a great location and close to many major highways and the Dulles Airport. There are some great opportunities to own real estate here. Some parts of Herndon are being built up and are fairly new and have a city feel to it. Others are a little bit older and have a country feel to it.

Lets look at the numbers

All searches were for homes under 350k This would put an average persons mortgage for 350k at around $2,800

Click on each link to see the homes

Active homes for sale - 116

Active condos for sale - 17

All homes under contract or sold in the last 31 days - 183

All homes SOLD in the last 7 days - 13

As you can see, just like Centreville this is definitly a buyers market and things are moving quickly. The main reason being because of the large number of bank owned properties.

We would love to discuss the pros and cons of bank owned vs regular sale. Email me if you have any questions at all.

Search For Homes In Other Areas Here

Centreville Housing Report

2008-09-15T10:13:00.000-04:00

In this report I will be highlighting Sully Station which is one of the prominent communities in Centreville.

First lets look at the current state of Centreville.

Centreville, VA is an excellent place to buy right now. In all of Fairfax County this is the one area you will get the most house for the least amount of money.

As of today 9/15/2008

I am going to focus on First Time Home Buyers numbers here first, because those are the people that should be getting into the market right now and Centreville is an excellent choice.

I am focusing my search on townhomes/single family and condos priced under 375k With no money down your mortgage would be around 3,000 a month.

I am working with a client right now or a townhome for under 225k and his mortgage will be around 1400 a month. He could turnaround and rent that townhome out for 1500-1800 a month ! If you are renting in Centreville, there is a good chance you should be buying instead.

Active townhome/single family homes for Centreville - 207 Homes for sale.

Active condos for Centreville - 26 condos for sale.

Now lets look at the sold and under contract homes for Centreville. This will give us an idea of how well Centreville is selling, priced, and how long homes are staying on the market.

In the last 30 days there are 198 townhomes/single family homes that are under contract or sold !

Likewise there are 20 condos that sold.

These numbers would in a normal market show that Centreville is a sellers market .... but the reason things are moving so quickly here is because there are so many bank owned properties that are being priced very competitively. There is so much inventory that has to go and becaues of my statement below, it is a Buyers Market.

We are seeing multiple contracts on properties in Centreville. Homes are being priced low and first time home buyers and investors are biting at the opportunity to buy low in Centreville.

Feel free to respond with your comments and questions. I would love to answer any of them.

Sully Station

http://www.sullystation.org/

Community with more than 1000 homes that sits right in the middle of the Dulles Corridor with easy access to Rte. 28,50,66 and 29

Under $350,000

There are 19 Sold or under Contract in Sully Station in the last 30 days.

There are currently 8 active homes for sale in Sully Station. Look at them HERE

Sully Station also feeds into one of the top highschools in Fairfax County. Westfields High.

http://www.fcps.edu/WestfieldHS/

Why Choose Us

2008-09-10T15:04:00.000-04:00

We are in Real Estate to help families reach their Real Estate goals. We are going to go above and beyond what a normal real estate agent would do because 1) We really do care 2) We want you to be so proud of the work we did, that you refer your friends to us. You will not refer your friends and family members to a restaurant that had terrible service and terrible food. We hope that throughout the whole buying and selling process you will think so highly of us, that you would have no problem refering your closest friends to us.

Buying a home is one of the most important financial decisions you will make and below are just a few of things we do to help make the process of buying a home go smoothly. There is so much more behind the scenes we perform, but below is a small list of the services we provide.

Needs Analysis
- Analyze the buyer's wants and needs.
- Help buyer get clear picture of her ideal home

Prequalification or Pre-approval
- Guide buyer to a loan officer
- Obtain prequalification or pre approval
- Help choose best mortgage financing

Neighborhood Information
- Creat broad neighborhood search
- Provide list of target neighborhoods and related information for each

Home Search
- Organize and schedule a home search process
- Ongoing updates, drive - bys, and showings of available homes

Make an Offer
- Compare homes and make decision
- Advise on terms and issues of offer
- Fill out purchase offer contract

Negotiating to Buy
- Present the offer
- Negotiate on the buyer's behalf

Vendor Coordination
- Advise and supervise vendor selections
- Cooridinate vendor services

Preclose Preparation
- Coordinate and supervise document preparation
- Provide preclosing consulting

Closing
- Preview closing documents
- Resolve last-minute issues
- Complete transaction

Post Closing
- Coordinate move in
- Assist with post closing issues

Mortgage rates plummet, but borrowers beware

2008-09-10T14:46:00.000-04:00

Mortgage rates plummet, but borrowers beware
The takeover of Fannie and Freddie may make mortgage borrowing cheaper - but it won't make getting a loan any easier.
By Les Christie, CNNMoney.com staff writer
Last Updated: September 10, 2008: 1:45 PM EDT

NEW YORK (CNNMoney.com) -- Mortgage rates have plummeted, but that hasn't made getting a home loan any easier for most borrowers.
In the wake of the government's takeover of Fannie Mae and Freddie Mac last weekend, the 30-year fixed rate has dropped from 6.26% last Friday to 5.79%. But only buyers with a credit score of 740 of above - and a 20% down payment - can qualify for such a low rate. During the boom, borrowers only needed scores of 640 to land the lowest rates available. Even a 580 score would get them very close to the best rate.
During the credit crisis, Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500) have become virtually the only source of funding for banks and other home lenders looking to make home loans. Their ability to lend is crucial to the housing market. To that end, the Treasury will buy mortgage-backed securities from the two firms, and lend them money if necessary, all in an effort to make credit more available to home buyers.
But that doesn't mean that lenders won't continue to subject borrowers to strict criteria, according to Keith Gumbinger of HSH Associates, a tracker of mortgage loan information. The aim is to make mortgages more available, but only to the most qualified borrowers.
"All the emphasis on credit scores is not going to go away," he said.
High score, low rate
As the housing market has imploded, lenders have battened down the hatches on mortgage underwriting, consistently raising the credit scores necessary to qualify for the most favorable terms, and adding to borrowing costs to compensate for any extra risk factors they find. That's not going to change.
"Credit score affects your rate more than they ever have before," said Steve Habetz, a mortgage broker with Threshold Mortgage in Connecticut who has more than 20 years experience in the business.
An individual's credit history is scored between 300 to 850, with 300 very low and 850 perfect. The median score, in which half of the borrowers have a lower score and half have a higher one, is about 720. Only those with very high credit scores are getting the best mortgage deals.
And Fannie and Freddie have raised fees for borrowers with lower credit scores as the housing crisis worsened - they've increased twice this year alone. The lower the score, the larger the fee.
For example, Fannie charges a 1% up-front fee (raised from 0.75% this summer) for borrowers with a credit scores of 680, even when they're paying 20% down on their homes.
Even people with the very favorable scores, between 720 and 740, pay a small fee equal to an up-front charge of a quarter point. That's a big change from the past. Habetz had a client recently with a 735 credit score putting down 20% -a very solid applicant -and the client still didn't qualify for the best rate.
"You tell people with 730 credit scores paying 20% down that you have to charge them a quarter point extra and they look at you like you're crazy," he said. That comes to an extra $30 a month on a $200,000 loan.
Borrowers with scores below 600 may have to pay a fee of a full percentage point or more, adding $120 to the monthly costs of the average loan.
Nervous investors
Investors in mortgage-based securities are simply demanding that they be compensated for any extra risk that a borrower represents, according to Jon Kaempfer, a loan officer with Vitek Mortgage Group in Sacramento, Calif.
Kaempfer had a client with a 635 credit score recently who wanted to do a cash-out refinancing, a deal in which an existing homeowner takes out a loan for more than the mortgage is worth. The homeowner gets a bundle of cash, which this client wanted to use to pay for some home improvements.
The lender wanted to charge 1.5% of the mortgage principal up front simply because it was a cash-out deal, plus 2.5% more because of the home owner's modest credit score. Those fees, folded back into the mortgage, added about a percentage point to the client's interest rate.
"You have to be golden, have at least a 680 score or a 720 if you're making a smaller down payment, to qualify for the best rates," said Kaempfer.
Gumbinger expects lending standards to remain tight for the foreseeable future, as long as home prices continue to fall. The risk of foreclosure is of course much higher in a falling market, and lenders need to shield themselves.
If and when prices do improve, says Gumbinger, borrowers with less than perfect credit scores may get some breathing room

Centreville FYI

2008-09-09T12:43:00.003-04:00

So I am helping a first time home buyer in Centreville and I am shocked at what I am finding right now.

After getting a good faith estimate (a breakdown of what your costs will be)from our lender. You can buy some decent smaller townhomes in Centreville for less a month than you would be paying to rent in the same area !! Not to mention the tax savings and the fact that home prices are way down and can only go up !

If you have any questions please call or email

Herndon Report

2008-09-08T12:03:00.004-04:00

As of 9/11/08 for Herndon for Home prices under 350k

Active Homes For Sale
Sold and Under Contract Homes in the last 30 days

Herndon - 9/8/08

Another area of Fairfax County that is a great place for First Time Home Buyers is Herndon.

Located right near the Toll Road / Rte. 28 and Dulles Airport

There are a lot of areas of Herndon being built up and there are some older sections also.

I did a search of active single family and town homes on the market under 300k and there are 110 for sale.

There are 40 condos for sale under 300k

Compare to Fairfax - 28 Townhomes and 108 condos curretly for sale.
Arlington - 0 Townhomes and 119 condos currently for sale.

Rates just dropped significantly today because of what the Government is doing with Fannie and Freddie.

More highlights on Herndon to come soon......

Tax Credit for First Time Home Buyers

2008-09-08T12:01:00.004-04:00

Here is a link that explains the tax credit.

In a nut shell. This $7,500 tax credit is only a 10 year loan with no interest. It has to be repaid eventually. But you can claim it on your 2008 or 2009 taxes and get the government to pay you this amount or have it subtracted from what you owe.

http://www.federalhousingtaxcredit.com/

Families Helped in 2008

2008-09-08T11:41:00.002-04:00

Below are our number of Families we have helped for 2008. As you can see we are staying very busy. Although we focus on First Time Home Buyers, we also have many past clients and new clients that list their home with us. And YES even in this market, we get them sold !

Families Helped in 2008

6266 Woodruff Spring Way #28, 249,900, 12/31/2008
5066 Burnside Farm Place, 499,999, 12/19/2008
14660 Kogan Drive, $417,000, 12/19/2008
528 Page St, 286,000, 12/08/2008
44296 Pawnee Ter., $340,000, 10/31/2008
6062 MUNSON HILL, $370,000, 10/31/2008
8362 Gaither St, $375,000, 10/15/2008
3118 BURGUNDY, $300,000, 9/30/2008
7753 DONNYBROOK #103, $150,000, 9/30/2008
42840 Golf View Drive, $300,000, 9/29/2008
8505 Towne Manor Ct, $280,000, 9/26/2008
306 Moseby Ct #4, $132,000, 9/26/2008
10796 Avondale Dr, $388,000, 9/24/2008
9407 Fairleigh Ct, $230,000, 9/12/2008
1921 Alberti Drive, $225,000, 9/11/2008 (MD)
7610 Albemarle Way, $160,000, 8/15/2008
12712 SOCIETY, $410,000, 7/31/2008
7724 HICKORY GLEN, $370,000, 7/30/2008
43193 OWEN PARK WAY, $279,900, 6/29/2008
5409 Middlebourne Ln, $320,000, 4/16/2008
14709 BEAUMEADOW, $369,900, 3/31/2008
4490 MARKET COMMONS DRIVE #212, $255,000, 3/28/2008
2572 Little Kreeps Ct, $587,000, 3/14/2008
13324 PREUIT, $189,900, 3/12/2008
3119 Chepstow Lane, $360,000, 3/11/2008
3743 SUDLEY FORD, $299,900, 2/29/2008
6303 ALBERTA, $449,900, 1/31/2008

Centreville Report

2008-09-02T12:14:00.005-04:00

Centreville is an excellent place to buy right now. In all of fairfax county this is the one area you will get the most house for the least amount of money.

I searched homes that are active and sold in the last 2 months in Centreville under the price of 385k. Your mortgage payment for a 385k home would be around 3,000 a month. Remember: The lower the sales price the lower mortgage.

There are currently 191 townhomes or single family homes for sale. There are 107 sales in the past 2 months for townhomes and single family.

There are currerntly only 28 condos for sale in Centreville. There are 9 sales in the past 2 months for condos.

All these numbers mean that Centreville real estate is moving and first time home buyers and investors are getting into the market here. Email me if you have any questions.

Top Communities in Centreville

Virginia Run

1,405 homes on 1,200 acres. It boast an extensive trail network, wooded parkland and two recreation centers. Residents also have access to enormous swimming pools, tennis courts, basketball courts, soccer and softball fields, and several tot lots.

Faircrest

Off Rte 29 in Centreville, Faircrest is one of the area's newest communties with a mix of single-family and townhomes.

Sully Station

http://www.sullystation.org/
Community with more than 1000 homes that sits right in the middle of the Dulles Corridor with easy access to Rte. 28,50,66 and 29

Newgate

http://www.newgatecommunity.org/
Centreville community with more than 800 homes (detached and townhouse) includes community swimming pool, basketball and tennis courts along with tot lots. Newgate is also adjactent to a Fairfax County Park with nature trails and a wooded stream.

Interesting Centreville Facts

2006 median income = 83,100
Rest of the state = 54,200

Population = 65% White, 9% Black, 9% Hispanic

Unemployment rate = 2.4%

Centreville covers 9.73 square miles with a population density of 5,001 people per square mile.

Update

2008-09-02T12:07:00.002-04:00

Periodically I will be highlighting communties within fairfax county that are perfect areas for First Time Home buyers.

Just check out the tabs on the right under what city you are looking for.

Our first one we will be highlighting is Centreville.

Next week look for information about Fairfax.

What Our Clients Are Saying

2008-09-01T12:22:00.001-04:00

What Our Clients Are Saying

She was fantastic at the beginning and the end of a beautiful transaction. We were moving from out of town and this was a foreign market to us and we gave specific recommendations in what we were looking for and she found our home quickly and efficiently. She was thorough with her explanations and organized during closing. I would and I have recommended her to others! ~ Marcus C.

We truly felt the team was working for us. They were very attentive and knowledgeable. ~ The Muncy's

The transaction that we had with Debbie was absolutely wonderful! She gave us a very good CMA and it went for exactly that price. She researched the sale price of our home very well. She was aggressive in marketing the home through the MLS, open houses and online. I would definitely recommend her to others. ~ Harry M.

Honestly, I can't think of anything you could improve upon. ~ Dan K.
It went very well. She is very honest. She is a fine Christian woman and that was very important to us. She sold the house and it went very smoothly. I would highly recommend her and I have. ~ Alvin B.
We felt that you helped us find a home that was right for us and didn't feel pressured in any way. ~ Melanie and Jason S.

Thanks for everything. We are very impressed with your professional, patience, hard work and thoroughness. We are so lucky to have your as our Realtor. God bless you! ~S. Qui

We feel Reynolds Team Realty had genuine concern and interest in our needs, showing patience during trying times and following through to completion of the sale. ~ Ken and Helen P.

Your team had awesome communication, great newsletters w/helpful advice/tips, neighborhood updates, early advertising, great marketing strategies, nice website....AMAZING CUSTOMER SERVICE. We would recommend your services to anyone we know who may need them. ~Robert and Amy T.

They sincerely cared about finding me the perfect home. We chose Debbie because of her experience and integrity. The entire process went smoothly. ~Susan K.

Absorption Rate

2008-09-01T11:21:00.000-04:00

Absorption rate is a simple index to help gauge real estate activity in a given market. There are several approaches to determine this number. The one that I use is derived by taking the total number of homes in the market at a given time and dividing it by the number of homes that went under contract in the past month.

For example, if there are 100 homes on the market and 25 homes went under contract in the past month then the absorption rate will be 4 or 4 months. Theoretically, it'll take 4 months to sell all existing homes if no new inventory would come on the market. I know this is not realistic but it's a simple tool to help people understand the relative health of a given market. Absorption rate will be lower in a seller's market compared to a buyer's market. Although there are varying opinions, it's considered a buyer's market if there is at least 5 to 6 month supply of inventory. As of today (9/11/08), the absorption rate is 1.35 in Centreville. It doesn't mean it's a seller's market. Remember, I get this number by looking up information in MLS. Some homes are not listed in MLS including some of the builder's inventory. But we have seen multiple contracts on homes in Centreville. There are a lot of bank owned properties and they are being priced so low so many first time home buyers and investors are jumping to get them. I'll be using absorption rates on my weekly blogs so get used to this term.

Gift For First Time Home Buyers

2008-08-26T13:01:00.002-04:00

If you like to read we have a gift for you.

Its a very easy to read (not very long) book that explains the whole buying process for first time home buyers. It is called - YOUR FIRST HOME: The Proven Path To Home Ownership

We give this to all of our first time home buyers. It really helps them understand the buying process, ease their fears, and set up a plan.

Email me at NateJohnson@kw.com and we will send you this book free !

First Blog

2008-08-20T16:00:00.003-04:00

Hey everyone. This is my first blog on this website. !!! We are so excited about what is going on in the market right now for First Time Home Buyers. And we are not making this up to solicit business. I just had another closing for a First Time Home Buyer last Friday in Manassas. The Manassas property that my client purchased only has a mortgage of 1,300 a month !!! and he only put 2,500 down.

There is only about one month left where we can get first time home buyers into a property with no money down. Ask me for more details

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Who Is Nate Johnson

2008-08-19T14:25:00.003-04:00

Nate has lived in Northern Virginia for over 25 years !

For the last 4 years he has been a Realtor® serving as a First Time Home Buyer Consultant with Reynolds Team Realty. He graduated from Liberty University in 2003 with a degree in Sport Management and Business.

"I really enjoy working with both Buyers and Sellers. Real Estate with Integrity is my motto. From start to finish I am with you through the entire process. Treating you with respect, being totally honest and working closely with you to reach your Real Estate goals and needs."

He serves as a buyers agent on Reynolds Team Realty. Reynolds Team Realty consists of 3 agents , 1 assistant and a transaction cooridinator. Reynolds Team Realty can serve all you real esate needs.

Nate is also active in sports and has been coaching baseball the last 4 years. He currently is an assistant coach with the top 14u baseball program in Northern Virginia. In the past he was the head varsity baseball coach at a private school in Manassas.

http://northernvirginiafirsttimehomebuyer.yourkwagent.com/