From my personal experience, all I can say is that from April until December this market has seemed to me like the Wild West! Because of the First Time Home Buyer’s $8,000 tax credit, combined with historically low interest rates and home prices way down, there have been many more new people becoming first time home buyers. However, dealing with the different situations of buying bank owned homes or short sales, changing rules for appraisers for Conventional loans(HVCC), have brought quite a few interesting and at times, very stressful (but exciting!) situations Continue reading »

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RISMEDIA, December 21, 2009—It’s easy pickings out there for many potential homebuyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many homebuyers qualify.

But bargain buyers beware, warns Vince Mastronardi, whose property preservation business has been busy preparing foreclosed homes for sale. Continue reading »

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One very important piece of equipment for home owners are Step ladders. Various tasks at home require one to use step stools and step ladders. If you need to dust the top of the fridge, or reach up to a normal height, then a step stool will do. For various tasks at home that involve heights, a folding step ladder is often better. The platform ladder uses a high platform where you can, for example, set down tools or paint cans. Combination ladders are more versatile – it can be used as a step ladder, an extension ladder, and a stairway ladder.

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Everyone who visits this property is so surprised to see this type of property on minutes from Dulles airport. Usually one has to go to Front Royal to find such a farm like location.

Here are over 7 acres of secluded heaven, with private pond, forest, Cub Run Stream-endless possibilities-no HOA convenant restrictions. This property now has a new price and new virtual tour. This is not the “upgraded granite counter tops McMansion” but a lot of house and land waiting for a large family that loves country living. Currently the owner has peacocks and emus but has owned horses in the past.

Plantation Style Living

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In the Northern Virginia-Washington, DC Metro area, the $8,000 tax credit has been a tremendous incentive that has generated substantial market activity. I’ve recently helped two very young couples, in their early twenties, purchase their first house at a great price. It makes me happy to know that, because they now have a very low mortgage, they will be able to easily move up to a larger house in 5-10 years.

Another couple I worked with had sold their house in another state and relocated to Northern Virginia. Prices at that time were through the roof. As a result, they decided to rent until prices came down. They ended up waiting for over 3 years. When prices finally came down, they were now able to qualify as first time home buyers. As a result of this great timing, they purchased a beautiful house!

The combination of low interest rates, low prices and the tax credit has generated a buying frenzy in this area. Some listings are receiving bids $30,000 over list price after only 2 days on the market! This can only be a boost to the economy–so why discontinue the tax credit? After all, the tax “credit” is the buyer’s hard-earned money. Continue reading »

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They say in life, presentation is everything. You get one chance to make a good impression. This could not be more true than when you are selling a house. If you’re thinking of selling your home, it is good if you consult with a professional home stager. Staging a home properly takes a skill that isn’t necessarily the domain of the real estate agent. Just as you wouldn’t expect your agent to also be the mortgage lender, neither should you expect your agent to have time to go through your house and rearrange rooms so they really “pop” and sizzle when prospective buyers are shown the house. Let your agent be busy finding buyers; for home staging, it is good to consult a staging professional. Continue reading »

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After my blog of “We can all breathe a sigh of relief that FHA won’t be adopting HVCC” I found out today that FHA has decided to adopt HVCC as of January 2010! As a Realtor in Northern Virginia with Exit 1st Choice Realty, we are all struggling to get the housing market into recovery mode. The biggest burden in this market is for sellers owning non distressed properties, who would like to sell their properties for various reasons-usually due to changes in their lives. The sellers have a minimum financial goal that needs to be met. If it’s unreachable in this market, they will usually wait to sell.   When we have a larger proportion of non distressed properties on the market, we will know that we have turned the corner to recovery.

This news that FHA will be adopting HVCC may not be good news for the market. Here is an article by Mary Thompson, an appraiser from Georgia: http://activerain.com/blogsview/1246425/huge-fha-news-fha-is-adopting-hvcc-as-of-january-1st-get-ready-for-change

Read my previous blog on the HVCC to see how this code can affect a “regular” sale. http://househunterforyou.com/metrorealty/?p=118

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Don’t tell me your age; you’d probably lie anyway-but the Hershey Lady will know!

YOUR AGE BY CHOCOLATE MATH

This is pretty neat.

DON’T CHEAT BY SCROLLING DOWN FIRST!
It takes less than a minute ..
Work this out as you read .
Be sure you don’t read the bottom until you’ve worked it out!
This is not one of those waste of time things, it’s fun. Continue reading »

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Time is ticking away…. only a few days left until the November 30th deadline. After that the $8,000 tax credit for first time homebuyers will expire. It’s been so inspiring seeing very young couples purchase their first home for a great price, with a low mortgage payment. In many cases, their new mortgage payment is less than what they were paying for rent. In 10 years, they will look back on their decision to buy today, when prices and interest rates were low, as one of the wisest financial decision they ever made. It is a decision that is giving them dignity and financial stability.

Sometimes, people who have never purchased a home are a little intimidated by the thought. . .or they think that it just isn’t meant for them. Nothing could be further from the truth. Don’t let this opportunity slip by. . after all – it isn’t everyday that $8000 dollars walks up and tries to get into your pocket!

Anyway. . give it some serious thought and give me a call, (Carol McCarthy 703 338 1129 – caroling1@verizon.net) I can show you how it’s possible. As is always the case, I will only do what is in your best interest. . .because it is never about me. . .as I like to say: IT’S ABOUT YOU! I hope you had a great summer and I look forward to your call or let’s just get together for some coffee! I’d like that.

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