Manassas Virginia Real Estate News & Listings Presented By Coldwell Banker Residential Brokerage

End Unit Ready to Rent. Updated with Garage

Mon, 20 Feb 2012 21:34:39 GMT

AVAILABLE NOW! LARGE 3 LEVEL END UNIT TOWNHOME IN MANASSAS PARK, JUST MINUTES FROM VRE AND MAJOR ROADWAYS, HOME INC, 3BRs, 2.5 BATHS, SPACIOUS KITCHEN W/ACCESS TO REAR DECK, FORMAL DINING/LIVING AREAS, FINISHED ENTRY LEVEL W/1 CAR GARAGE, OWNER WILL CONSIDER PETS ON A CASE BY CASE BASIS, MOVE IN NEXT WEEK

132 Kent Drive, MANASSAS PARK 20111

Sun, 12 Feb 2012 22:31:22 GMT

ESTATE SALE, CONVEYS AS-IS, ANY INSP WILL BE FOR INFORMATION PURPOSES ONLY. GREAT RENOVATION OPPORTUNITY, CONTRACTS WILL BE REVIEWED AS RECEIVED, MAKE SURE YOUR CLIENT SENDS THEIR BEST OFFER. HOME IS 3BR, 1 FULL BATH, SITUATED ON A NICE CORNER LOT, LOADS OF OPPORTUNITY HERE.

5 acre treed lot and updated rambler

Sun, 12 Feb 2012 22:22:36 GMT

All new kitchen appliances, 2 updated baths and a private 5 acres, makes this home perfect for you. Fresh clean home in move in condition with new carpet and tile floors. A full walkout basement offers many opportunities to expand or use as a workshop. Enjoy the serenity or entertain on the large rear deck backing to trees. Plenty of parking in the large 2 car carport or expansive driveway.

National Mortgage Settlement

Thu, 09 Feb 2012 00:00:00 GMT

Details of the National Mortgage Settlement are announced. The settlement will affect thousands of borrowers that were foreclosed on from January 1 2008 to December 31, 2011. The settlement excludes anyone foreclosed on in the state of Oklahoma, the only state to opt out of the settlement. Loans owned by Freddie Mac or Fannie Mae are not impacted by the settlement. See other FAQ Here.

See if your loan is Fannie Mae or Freddie Mac

The settlement involves the nations's five largest mortgage servicers

GMAC / Ally
Bank of America
Citi
JPMorgan Chase
Wells Fargo

View the full details of the National Mortgage Settlement at the official website

http ://www.nationalmortgagesettlement.com/

What an Agent Cannot Tell You... you maybe surprised.

Tue, 07 Feb 2012 00:00:00 GMT

You maybe surprised to know a real estate agent cannot tell you about: Schools, Crime, Religious, Ethnic or Income demographics of a neighborhood. See the video below to understand more.

From AOL Real Estate--A good real estate agent is very familiar with the neighborhoods where he or she shows properties. But because of legislation called the Fair Housing Act, the agent can't legally share all of that information with you.

Why the restrictions? The government wants to make sure that home purchase decisions are based on a property's fair market value and not factors such as race, religion or ethnicity. In other words, the law is meant to stop agents from steering clients toward or away from certain neighborhoods.

What can't a real estate agent discuss with a buyer? We asked Scott Klein, an agent based in New York City, to give us a rundown on the topics that are off-limits.

The Do-Not-Ask List

Household income: Wondering if a neighborhood is considered upscale? Don't bother asking your agent. Klein says he can't discuss economic class with prospective buyers.

But it's relatively easy to find demographic information online, including average household income for a particular area. At Neighborhood Scout, for example, you can get a description of a neighborhood's "look, feel and character" that includes information about residents' age, income level, ethnicity and other factors.

Schools: As with income level, sharing information about schools "might be perceived as steering someone into a certain neighborhood," says Klein. "However, as a Realtor I can direct people to sources of information about education in that area."

Here, too, the web offers prospective home buyers a wealth of information. Buyers can find useful school statistics, including enrollment, class size, and reading and math scores, at sites like School Matters and Great Schools.

Religion: The religious makeup of a neighborhood is another topic that's off-limits for real estate agents to discuss. If a buyer wants to find out about active religious communities in a particular neighborhood, Klein directs them to local houses of worship for information.

Crime statistics: Surely an agent can answer questions about local crime statistics, right? That's pretty public information. But it turns out that even this data is considered a sensitive topic under the Fair Housing Act.

Once again, buyers have to do their own research to find out if a certain neighborhood is considered safe. Homebuyers can find crime statistics online, including where sex offenders live, by logging onto Family Watchdog.

Klein also recommends that his clients pay a visit to the local police precinct and walk around the neighborhood to get a feel for it at during different times of the day.

Environmental concerns: A buyer would want to know if, say, a home is located near a Superfund site. In general, a real estate agent isn't going to be much help when it comes to neighborhood environmental issues. Buyers will need to figure this out on their own. One way is to visit the EPA's web site, which includes a database of environmental information, searchable by Zip code.

The one exception to this rule is if there is an environmental problem with a specific home. "If it pertains to that particular property, and it's something I have knowledge of, I am required to disclose that," Klein says.

So why use an agent if you have to do so much information-gathering yourself? An agent can show you homes, guide you through the buying process from start to finish and help you negotiate the best deals with sellers.

Model showing condition, with home theater, gym, pool table.

Thu, 19 Jan 2012 15:41:59 GMT

This is it! The home you've been searching for. It's ready for you in perfect showing condition. Featuring a modern open floor plan, granite counter tops, hardwood floors, three finished levels and a spacious master suite. Extra features include a home theater, whole home sound system with intercom, home gym and pool table. Ready to relax or entertain? You'll be ready in the beautiful home.

Orland Stone is Under Contract but there are others available in Braemar. Use this custom "live search"map of Braemar to view them.

Updated Rambler on .46 acre corner lot

Mon, 02 Jan 2012 21:15:07 GMT

Updated rambler on .46 acre corner lot. Home features spacious kitchen with new tile floor, all new windows, new carpet and fresh paint. Home has been equipped with wheelchair ramp for easy access. Single family home at a townhouse price. Get the space you need with no HOA.

Top 10 Most Searched Real Estate Markets

Mon, 19 Dec 2011 11:53:00 GMT

10 Most-Searched Real Estate Markets Online

DAILY REAL ESTATE NEWS | MONDAY, DECEMBER 19, 2011

Chicago continued to hold onto the No. 1 spot for most searched for real estate market at Realtor.com in November. What other markets did potential home buyers have their eyes on last month? Realtor.com releases its top search ranking from November based on 146 metro areas.

The following are the 10 top-searched metro areas from November at Realtor.com.

1. Chicago

Median list price: $192,900

2. Detroit, Mich.

Median list price: $84,900

3. Los Angeles-Long Beach, Calif.

Median list price: $329,000

4. Phoenix-Mesa, Ariz.

Median list price: $164,700

5. Atlanta

Median list price: $156,900

6. Philadelphia, Pa.-N.J.

Median list price: $229,900

7. Tampa-St. Petersburg-Clearwater, Fla.

Median list price: $144,200

8. Las Vegas

Median list price: $122,000

9. Dallas

Median list price: $194,900

10. Riverside-San Bernardino, Calif.

Median list price: $199,000

Information for Realtor.com

The winter market is starting off HOT

Thu, 08 Dec 2011 00:00:00 GMT

So far, the winter market is strong

The winter market is starting off strong. We just listed a wonderful home at 4007 Gypsum Hill Rd in Haymarket Va. The owners priced the home appropriately and received an offer in one day! Now they dont' have to worry about showing their home over the holidays.

Use this link to view current sales data for Prince William County.

What is a Short Sale?

Tue, 29 Nov 2011 00:00:00 GMT

What is a Short Sale? See the 3 basic elements needed for a short sale in this quick video.

Short Sale Seller

In my experience helping buyers and sellers with short sales, I have found patience and persistence are keys to success. The seller must work closely with their agent to provide the sellers bank with all the necessary documents requested. The seller should be prepared for their bank to request updated financials and hardship proof throughout the process. It's important for the seller to show their willingness to cooperate and provide any document their bank requests.

Short Sale Buyer

A short sale buyer must be patient, willing to wait many weeks/months to hear if the sellers bank will consider a short sale. During that time, the sellers bank will review the contract price and sellers financials. The sellers bank may reject, counter or accept the contact between seller and buyer. A buyer should have a long term and flexible time frame for settlement. Buying a short sale takes patience, however, the buyer may be reward with a great purchase price.

I've only discussed the basics of short sales here. Please contact me to discuss more details about short sales. Together, we can decide if you are a good candidate to sell or buy a short sale. 703-501-3626

Short Sales I've Sold This Year

Renters Spend 5% More Than Home Owners

Mon, 14 Nov 2011 00:00:00 GMT

Renters Spending 5% More Than Home Owners

DAILY REAL ESTATE NEWS | WEDNESDAY, OCTOBER 26, 2011

Rising rents are forcing renters to outspend home owners on housing costs, according to a new study.

Since 2005, home owners’ housing expenses have climbed from 31.9 percent of their household budget to 33.2 percent. On the other hand, in that same time period, renters’ expenses have jumped from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends.

In the last 26 years, home owners have increased the amount they spend on household expenses by 12 percent while renters have increased it by 22 percent, according to the study.

Earlier this month, Capital Economics economists noted that for the first time in 30 years the median monthly mortgage payment is about the same -- or less -- than the median rental payment.

Yet, with the bleak job market, home ownership rates continue to fall in many parts of the country, particularly among younger generations. CoreLogic found in its report that the home ownership rate for the 25-to-34 age group dropped from 51.6 percent in 1980 to 42 percent in 2010. For the 35-to-44 age group, home ownership rates fell from 71.2 percent to 62.3 percent over that period.

Source: “Renters Outspend Owners on Housing,” RISMedia (Oct. 25, 2011) and Capital Economics

Finally, help for the good borrowers!

Wed, 26 Oct 2011 00:00:00 GMT

Finally, help for homeowners that pay their mortgage on time but owe more than their home is worth. The new HARP changes should help more good borrowers (people current on their mortgage) refinance. By eliminating the need for appraisals, more homes will qualify to take advantage of the historically low rates.

Washington, DC – The Federal Housing Finance Agency, with Fannie Mae and Freddie Mac

(the Enterprises), today announced a series of changes to the Home Affordable Refinance

Program (HARP) in an effort to attract more eligible borrowers who can benefit from

refinancing their home mortgage. The program enhancements were developed at FHFA’s

direction with input from lenders, mortgage insurers and other industry participants.

Excerpt from government 10/24/11 release---"Washington, DC – The Federal Housing Finance Agency, with Fannie Mae and Freddie Mac(the Enterprises), today announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their home mortgage. The program enhancements were developed at FHFA’s direction with input from lenders, mortgage insurers and other industry participants." Download the full news release here.

Look for the updated lender guidelines to be released on November 15th 2011

Foreclosures Down 34% in 3rd Quarter 11'

Tue, 18 Oct 2011 00:00:00 GMT

U.S. Foreclosures Down 34%

According to RealtyTrac, foreclosure filings (default notices, auctions, repossessions) were down 34% from Q3 2011 from Q3 2010. It marks the 12th straight month with decreasing year over year foreclosures. See the full artical here

photo from RealtyTrac

Keep the Mortgage Interest Deduction

Wed, 10 Aug 2011 00:00:00 GMT

7 Mortgage Interest Deduction Myths

Think losing the mortgage interest deduction would be no big deal? We bust seven myths to show why the cost is bigger than you think.

Myth 1:Mostly rich benefit

Myth 2: I'm not affected because I don't own a home

Myth 3 :The 12% mortgage credit would be a wash for most

Myth 4: Not that many people take the credit

Myth 5: Getting rid of the deduction won't affect my house

Myth 6: The same number of people will still buy a home.

Myth 7: A 15% drop in value isn't that much

Read

Visit houselogic.com for more articles like this.

Do-It-Yourself Home Security Checklist

Wed, 03 Aug 2011 00:00:00 GMT

Do-It-Yourself Home Security Check:

Conduct a do-it-yourself home security check by walking around your house to assess what needs to be done to reduce the risk of a break-in. Read

Visit houselogic.com for more articles like this.

9316 LINDSEY LN, MANASSAS PARK 20111

Fri, 01 Jul 2011 17:11:04 GMT

BACK ON THE MARKET!!! GREAT OPPORTUNITY TO BUY THIS 3 LEVEL 3 BED AND 3.5 BATH TOWNHOME. DONT WAIT TO SEE THIS ONE, WE ARE RECEIVING A TON OF CALLS. WONT LAST LONG. SHORT SALE, AS-IS PURCHASE---- Read the improtant buyer disclosure PDF here.

What is a Short Sale? See my blog update with video here.

Web Traffic Reports

Wed, 22 Jun 2011 00:00:00 GMT

Web traffic reports are a great tool to understand how a listing is competing in the market. The reports tell us how many people

are: viewing the listing, clicking through to view more details and emailing to request more information. Understanding buyer interest helps gauge the homes position in the market.

We track live MLS sales activity around our listings. This information, combined with web traffic reports, gives us a "real time" view of the market.

QR Codes, how do they work in real estate?

Tue, 07 Jun 2011 00:00:00 GMT

QR = Quick Response

QR codes are bar codes made for mobile devices (smart phone or tablet computer). They give the user an easy way to access more information about a product or service. Short for Quick Response, these codes are gaining popularity for both consumers and advertisers.

We create QR codes for our listing to give buyers easy access to the information they want. Each listing receives a unique QR that is placed on brochures and the brochure box. Even if the brochure box is empty, the QR code on the box gives the buyer access to the information they seek. Use of these codes has increased buyer traffic to our listings. See the quick video below for a 50 second demo.

We use QR Codes to direct buyers to:

Each Listings Unique MyVaHome Web Page
Online Photo Album
The YouTube Movie Tour
Price and Description
Jim's Contact Information

List your home with us and you will receive a unique QR code for your home.

Lender Credit Inquiries Effect Your Credit Score

Wed, 01 Jun 2011 00:00:00 GMT

A common question we receive when a buyer is looking for a mortgage: "Will my credit score go down when they pull my credit report?" and "If I speak to more than one lender, will my credit score go down?"

It is true that credit inquires lower credit scores, however, not enough to stop you from shopping lenders. According to Debbie Gorman, Senior Loan Officer for Coldwell Banker Home Loans, you can have up to 5 credit inquires within 30days without hurting your credit score. The first time your credit is pulled by a lender your score drops between 5-10 points. Each subsequent credit report pulled (up to 4 more) will not lower your score.

We always recommend you get pre-approved for a mortgage before looking for a home. After ratifying a contract on a home, it maybe wise for you to shop the lender terms and rates. You have the right to change lenders, even after you sign the purchase contract.

Is it time for you to refinance? If you can lower your current rate 1% or more, it maybe worth checking into. Contact my preferred lenders and they will tell you if its worth the savings.

We have 3 lenders we recommend. Please contact them anytime with mortgage questions. It only takes about 10 minutes to be pre qualified for a home loan. Be sure to tell them you received the referral from Jim Downs. They know I expect you to receive the best possible interest rate.

Coldwell Banker Home Loans

Debbie Gorman 703-725-2464

Debbie.Gorman@mortgagefamily.com

Pre-Qualify for a mortgage with Debbie now

SunTrust Mortgage

Curtis Scott 571-332-6575

Curtis.Scott@SunTrust.com

Get pre-qualified now with Curtis

Monarch Mortgage

Meg Fulwiler 703-819-6160

mfulwiler@monarchmtg.com

Apply for a Mortgage now with Meg

Staged To Sell, It's Showtime!

Mon, 23 May 2011 00:00:00 GMT

Staged to Sell

When your home goes on the market, it's time to shine. Home staging is an important part of showcasing your home to the buyer market. Whether you do it yourself or hire a professional, it's important to give buyers a warm welcoming experience.

Staging is not simply de-cluttering the house or painting over outdated colors. Staging involves properly scaled size furniture placement, natural colors, current design trends, de-personalizing and proper lighting. The goal is to give each room flow and purpose while helping the buyer imagine themselves living there.

Vacant homes greatly benefit from staging. The addition of furniture and props, helps create a spacious warm feeling. Photos of empty rooms not only look cold but small. Buyers viewing pictures online have a hard time judging the size and scale of a room without the benefit of furniture. Empty bedrooms often look small and buyers dismiss them as inadequate.

Checkout the quick video below to see before and after photos of a professionally staged home.

See more photos of before and after home staging.