The Dulles Area Association of Realtors (DAAR) is sponsoring the 17th annual charity auction and dinner to raise funds for Loudoun County charities at River Creek Country Club in Leesburg.
More than $39,000 was raised and donated to local charities last year. Proceeds benefitted Rebuilding Together-Christmas In April, Good Shepherd Alliance, Loudoun Abused Women's Shelter-Children's Services, Loudoun Cares, Loudoun Families for Children, Volunteers of American Emergency Shelter and Volunteers of America Transitional Housing Shelter.
The silent auction will be held on October 24 from 6 to 11pm. Donations of $100 or more are requested from area businesses for the event. Auction and dinner tickets are $65.
For tickets to the DAAR charity auction and dinner, click here. To be a sponsor and/or donate an item(s), contact Kathleen Mellot, Director of Member Services, at 703.777.2468 or kmellot@dullesarea.com.
The question I've been hearing a lot lately is "How will the Fed bailout affect my ability to get a mortgage?" I came across a short and sweet explanation of the bailout's affect on mortgages over at Bankrate.com and wanted to share it with you here...
"Conforming mortgages. Home loans for $417,000 or less that meet guidelines devised by Fannie Mae and Freddie Mac, the government-controlled housing finance giants. The guidelines require borrowers to have good or excellent credit histories, and to have some equity in their houses -- either by making a down payment (when buying a house) or by having a house that's worth more than the amount borrowed in a refinance.
Mortgages are likely to remain available for qualified borrowers who get conforming loans, as long as they have sufficient equity. To qualify for conforming loans, borrowers might need to have equity of at least 5 percent or sometimes 10 percent or even 20 percent. The amount of necessary equity depends on where the home is, whether it's a condominium and other factors (such as credit history).
People who need to refinance, but owe more than their houses are worth, will not be helped by the powers the Treasury seeks. The Treasury's proposal isn't designed to bail out upside-down homeowners.Jumbo mortgages. Home loans of more than the conforming limit. The jumbo limit varies, depending on location. In some places, it's any mortgage of more than $417,000. In expensive markets such as Los Angeles, it's a loan of more than $729,750. In some places, the limit is in between.
Lenders say jumbo loans, when available, have high rates and fees. This is a result of the credit crunch. If the Treasury's proposal goes through, jumbo loans might become more available and affordable. There's no guarantee of that, though.Mortgages insured by the Federal Housing Administration (FHA). Loans for people who have so-so credit histories or who have down payments of only 3 percent or so. Those loans remain available for purchasers and for refinancers who can jump through multiple qualifying hoops."
Ultimately, you'll want to chat with a loan officer for further guidance. A loan officer will be able to determine which option is best for you, whether or not you'll qualify and what guidelines you'll have to meet based upon your specific financial situation.
Here are the September 2008 statistics for the Leesburg real estate market (20175 and 20176 zip codes):
Leesburg - 20175 - September 2008
Leesburg - 20176 - September 2008
Though buyer demand increased significantly year-over-year in the 20175 zip code of Ashburn, it really spiked in the 20176 zip code. These statistics confirm what my clients and I have been seeing and feeling while searching for and writing offers on properties - there are less properties to choose from and more buyers fighting for the same property.
Related Articles
Sterling Real Estate Market Statistics (20164, 20165, 20166) - September 2008
Ashburn Real Estate Market Statistics (20147, 20148) - September 2008
No "Summer Slump" For Loudoun County Real Estate In 2008
Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007
Loudoun Real Estate Inventory Levels Well Below National Average
Here are the September 2008 statistics for the Sterling real estate market (20164, 20165 and 20166 zip codes):
Sterling - 20164 - September 2008
Sterling - 20165 - September 2008
Sterling - 20166 - September 2008
The 20164 zip code had the largest increase in buyer demand out of the three zip codes in Sterling. In fact, Sterling's 20164 zip code had more sales and the highest increase in buyer demand in September 2008 out of any zip code in Loudoun County.
But the rate at which new listings came on the market in the 20164 zip code remained relatively steady as compared to last year. This is mostly due to the large number of sub-prime loans and distressed properties found in that zip code which are helping fuel new short-sale and foreclosure/bank-owned listings.
Also.. notice that there were more sales in that zip code than there were new listings. That's great for sellers and the real estate market in general, but not-so-great for buyers looking in that zip code.
Related Articles
Ashburn Real Estate Market Statistics (20147, 20148) - September 2008
Leesburg Real Estate Market Statistics (20175, 20176) - September 2008
No "Summer Slump" For Loudoun County Real Estate In 2008
Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007
Loudoun Real Estate Inventory Levels Well Below National Average
Here are the September 2008 statistics for the Ashburn real estate market (20147 and 20148 zip codes):
Ashburn - 20147 - September 2008
Ashburn - 20148 - September 2008
Though buyer demand increased significantly year-over-year in the 20147 zip code of Ashburn, it really jumped in the 20148 zip code. In fact, the 20148 zip code had the same number of sales last month as it did new listings (31).
These stats confirm what's being felt on the "street" - there are less properties to choose from and more buyers fighting for the same property. This is especially true with properties in the lower price brackets and those that are great deals. This bodes well for sellers and the market as a whole though it's not news most buyers want to hear.
Related Articles
Sterling Real Estate Market Statistics (20164, 20165, 20166) - September 2008
Leesburg Real Estate Market Statistics (20175, 20176) - September 2008
No "Summer Slump" For Loudoun County Real Estate In 2008
Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007
Loudoun Real Estate Inventory Levels Well Below National Average
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Real Estate Consultant/Realtor in Northern Virginia. Check out my local real estate blogs - LoudounScene.com and LoudounForeclosures.com. Cell: 703.582.6900
Note: I am no longer posting here on Active Rain and am focused on my local real estate blogs, LoudounScene.com and LoudounForeclosures.com. Please check out those blogs for the latest local real estate news or email or call me to contact me.
Real Estate Consultant and REALTOR® with Market Advantage Real Estate in Sterling, Virginia. Specializing in residential real estate in Loudoun County and North/East Fairfax County.
Lead Buyer Specialist and Realtor with CC Sells Team/Keller Williams Realty in Loudoun County (2003-2008). CC Sells Team ranked top 1 percent nationwide.
Technology Committee and Communications Committee - Dulles Area Association of REALTORS®.
Strategic Planning Commitee - Virginia Association of REALTORS®.
Featured Speaker - Virginia Association of REALTORS® Annual Conference - September 2008.
Social Media/Networking and Blogging consultant.
Author of LoudounScene.com and LoudounForeclosures.com (both local real estate blogs providing information and resources to consumers)
Co-author of VARbuzz.com and agentgenius.com.
Former co-author of LoudounStats.com and realdiablog.com.
Founding Member - Center for Real Estate and Social Technologies (CREST).
Contributing author - "Real Estate in 2008, Book of Top Ideas for the Challenging Market of 2008″ (Best Agent Business), which is on the National Association of REALTORS® suggested reading list.
Media appearances - Loudoun Easterner, Loudoun Times-Mirror, Washington Independent, LoudounExtra.com, Living In LoCo, The Washington Post, WTOP News, Reuters, The Wall Street Journal, Google Finance, The Economist, ABC 7 News, WJLA Channel 8 News and National Public Radio (NPR).
Can also be found on Twitter, Zillow, Trulia, BrightKite, Facebook and others.
Samples of references from clients found below. More available upon request.
Focused on Buyer and Seller Consulting and Representation in Northern Virginia, specifically Eastern Loudoun County and parts of Fairfax County. Clients also include real estate investors seeking investment opportunities, specifically short-sales and foreclosures/REOs, as well as banks/asset managers.
Social Media, Social Networking and Blogging Consultant. Contact for more details.
LoudounScene.com - Tracking the Loudoun County, VA real estate market and more.
LoudounForeclosures.com - Loudoun County foreclosures, REO, short-sales and other great real estate deals.
VARbuzz.com - The official blog of the Virginia Association of Realtors
AgentGenius.com - Talking about what's hot in real estate technology, the nature of the real estate industry, hot topics that impact consumers and more
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"Just a short note to let you know how satisfied Marie and I are were with the services provided by one of your agents, Danilo Bogdanovic in buying and selling a house for us in the area. We had heard from other people that Danilo was an honest and fair real estate agent and we asked him to sell our house in Mclean and find us a town house in the area that would meet our needs. Selling and buying a house at the same time is no easy to task and I am happy to say that I am still with my wife - a phrase I had heard, but never completely understood until now.
At any rate, Danilo always did what we asked him to do and he never crossed the line. He gave us good advice when we asked him and when he didn't know he told us so. He was a perfect gentleman, neither pushy nor impatient. He could have pushed a "close" several times, but he did not. He let us decide. He would meet with us anytime we requested and showed us places time and again when we wanted to check out a place once more.
You have an honest, knowledgeable and competent real estate agent in Danilo and we just wanted to let you know." - Ronnie and Marie Straw
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"Just wanted to let you know that your Blogs are AWESOME! You come across as very knowledgeable and as someone who totally knows and understands the real estate business (not just which tile looks good on the bathroom floor!). I believe that is crucial. When times are good, anyone can sell a house. When times are bad, you need someone who understands the entire environment to advocate for you. Your Blogs convey this absolutely.
Gee, it almost makes me wish you were my real estate agent. Wait a minute, you are!" - Andrea McAleese
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"Danilo,
I would like to take a minute to thank you for your part in the purchase of my new home. Your attention to all the details of the contract negotiations, the inspection process, the follow up with everything that needed to be taken care all led to a successful transaction from start to finish. You made me feel comfortable and confident knowing that I had a realtor who was both professional and competent. This was very important to me being a first time home buyer. We are all settled in and we love our new home. Thank you very much for helping to make it happen.
Happy New Year and Best Wishes!
Best Regards,
Jason Ward"
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