Okay, driving through Fairfax County I share my thoughts on the essentials of knowing your FICO Score and the importance of getting a credit report early on in the home buying process. If the FICO Score isn't 700 720 then there may be ways to improve it... since 720+ is the magic number for availability and good pricing. So after you have Continue Reading
Figuring out the McLean Real Estate Market – August 2009
There have been some impressive claims about the real estate market in August, but there is a sharp dividing line between McLean 22101 and 22102. Yes, 22101 saw some good real estate sales numbers. The strength of the McLean home market is its strategic location keeping this area in demand since access to D.C., Tyson's, Arlington plus Dulles and Continue Reading
Figuring out the Vienna Home Market… August 2009
I understand that you are bombarded with August's real estate sales data, but I always like to keep it simple, and the Vienna home market in the 22182 zip code was actually pretty flat versus 2008... which may be good news to some of you. But, if you are a seller with a home priced over $800,000 then you are still searching for a needle in a Continue Reading
Digital signature saves the home sale negotiation!
One of my real estate associates at RE/MAX Presidential recently went on a vacation and I agreed to handle her clients. Yes, we all need vacations (even real estate agents) to recharge our batteries and add a little adventure to our lives. In her case, it was a motorcycle trip in Wyoming and Montana with her husband. One of the cases involved a Continue Reading
The truth about Option-ARM’s and traditional ARM’s
What the heck is an Option-ARM and why do they get headlines? In the Option-ARM mortgage, the borrower can decide how much she will pay each month. For example, the true Principal and Interest payment is $1,500 per month but the borrower decides to pay only $1,300 per month. That extra $200 per month then gets added to the principal due. It Continue Reading
Home buyers need a plan, and be ready to pull the plug…
It has taken a couple of months, but you are now walking up the stairs and into your new home. It’s actually a little bigger than you thought and you can’t wait to paint the kitchen, replace the carpet, get the FiOS set up, and turn in the keys at the old place. Maybe even take a dip in the pool! Nice story, but this is the type of mental image Continue Reading
Figuring out the McLean Home Market… July 2009
With all you read about the July real estate market, I was surprised to read through the MRIS data for the two McLean, Virginia zip codes, 22101 and 22102. The sales numbers remain down although prices have dropped and mortgage rates were close to 5% on 30-year loans. The strength of the McLean home market is its strategic location keeping this Continue Reading
Figuring out the Vienna Home Market… July 2009
You may be bombarded with July's real estate sales data but I want to keep it simple, and the Vienna home market in the 22182 zip code appears to have picked up pace in July over 2008's numbers. If you are a seller with a home priced over $800,000 then you are still searching for a needle in a haystack. I just looked over real estate resale data Continue Reading
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