Amy Bender Webb - Your Charlottesville Agent

Call me a pessimist, (or a Bear), but I am of the school that sees the current housing crisis/sluggish market, as part of a longer trend into some tough economic times, perhaps the worst of my (44 year) lifetime. I know that is not good news, but I think it is realistic...and better to be prepared than caught by surprise!

Moreover, as a Realtor, I believe my job is to understand, accept and work within the context of the economic REALITY my clients ( both buyers and sellers ) are living through. I cannot help them buy and sell property if I am living on Planet High Hopes while they are living in Virginia!

Here is a great article Fortune just posted about the next bubble expected to burst: the consumer credit crunch.

Pretty as I am, they don't pay me to stick my head in the sand and wave my tail feathers around!

Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia

...with Jott.com !

If you haven't heard about Jott yet, you may need to clean your ears out !! but even if you have, take another look!! Jott has just introduced a new wave of features. Yes, you can still get a free account - though of course they are offering "for fee" services too!...but even with the free account, I can "Jott" myself by calling a toll free number on my cell phone and speaking a message to myself which can

1) show up in my email inbox

2) show up in my google reader and homepage

3) be emailed to someone else

4) be posted to my Blogger blog, and so forth and so on.....

I initially got Jott as a safety precaution and convenience - so that I could leave myself verbal messages easily instead of trying to write things down while driving, walking or otherwise engaged......and with added features, it just keeps getting better and better...so check it out!

If you enjoyed this post about Jott.com or are generally interested in real estate and the Charlottesville - Albemarle area, I invite you to subscribe to my blog!

Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia

Here is a great site from the Minnesota Pollution Control Agency on reducing the toxic chemicals in your home and garden. The advice on this website is practical and easily achievable without a major effort or life change!

You don't need to run out and invest in a solar panel system for your home in order to impact the environment positively: Instead, why not start going green by improving the quality of the air and materials you breathe and touch everyday?

Take a simple step like choosing to buy products in spray pump containers instead of aerosol or buying a mercury free thermometer.Even taking off your shoes when you come into your house can have a significant impact on the level of pesticides, lead, cadmium and other chemicals in your home!

The site has a ton of great advice for cleaning with natural products, natural gardening, healthy eating and more. The advice is straightforward and fact filled, without selling you anything or pushing the point!

Hope you find this useful!

If you enjoyed this post about green living or are generally interested in real estate and the Charlottesville - Albemarle area, I invite you to subscribe to my blog!

Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia

Just a quick recognition of our appearance on yet another "Best" list: National Geographic's "Best Adventure Towns" The renowned magazine “selected 50 innovative towns that aren’t just prime relocation spots right now, but smart choices in the future”. Come have a look yourself!

If you enjoyed my post, I invite you to subscribe to my blog!

Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia

If your thinking about buying a home, you have a lot of financial decisions to make. Your Lender and your Buyer’s Agent can assist you in "running" some numbers to figure out
▪ how much you can afford to pay monthly
▪ what size mortgage you are comfortable taking
▪ how much in closing costs you are going to be paying above and beyond the cost of the home.

But one practical question the sometimes gets overlooked is: How much cash will you need to have on hand to buy a home??

Though it is possible to buy a home with little or no cash on hand by pursuing 100% financing and folding the closing costs into your purchase, this is becoming more uncommon in times of tightening credit, and it is helpful to understand how a more typical transaction works:

About the terms Good Faith Deposit, Down Payment and Cash for Closing

When you make an offer on a home, it is customary to give the Realtor an amount of money as a good faith deposit to demonstrate to the Seller you are vested in the process and serious. This deposit can range from as little as 1% to as much as 5% of the offer price or more, particularily in new construction. We can discuss the suggested amount in greater detail as the time draws nearer. Any good faith deposit is usually paid by check when you make the offer.

On a resale home, the deposit is held in escrow by the Real Estate firm and simply goes towards the purchase price and closing costs. On a new construction home, the good faith deposit is generally deposited into the funds of the builder, but it still counts towards your purchase and in most circumstances, you are entitled to have it refunded if the transaction does not close. When we review the contract, we will review the terms of your good faith deposit. But essentially, you need to have this money "in the bank" when you make the offer.

The term down payment refers the total amount of your personal funds you will combine with the funds borrowed from the lender in order to achieve the total purchase price. This is not an additional expense above and beyond the amount you offered on the home, but just a way of saying “how much money am I contributing to the purchase price of the home”. If you are borrowing 80%, then your down payment is 20%. It is quite typical that some or all of this down payment is coming from the sale of your current home.

The term cash for closing refers to the total amount of money you are going to bring to the closing, usually by transferring the funds electronically to your settlement agent . Generally this amount is calculated by taking
the Purchase Price of the home plus
the Closing Costs minus
the Amount of the Loan and minus
the Good Faith Deposit which is being held in escrow already.


A note about Inspection fees

You are responsible for paying for any home inspections and specialized tests (such as radon) which you have conducted as part of the purchase process. This is one inescapable expense - you can only avoid it by not doing inspections - and it is an expense you may incur even if you ultimately decide NOT to buy the home based on what is found during the inspection. The cost of the home inspection varies with the size and nature of the property and can range from $200 to $600 or more. Typically , a radon test costs around $150.

If you enjoyed my post, I invite you to subscribe to my blog!

Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia