I saw a video of Spencer Rascoff, Cheif Operating Officer of Zillow, as he talked about foreclosure delays that can and may affect inventory of homes Nationwide. Well, some folks think the real estate market has bottomed out and with four months of continued sales growth ,we're are in the clear. New home starts are up..everything seems to be moving in the right direction. And in the lower end price ranges that is a correct assessment. Here is a visual as shown on on Zillow today what is happening in the 22192 zip code area...it's good news... take a look
Now watch the latest business video at FOXBusiness.com of Spencer Rasoff talking about the Shadow Inventory.
The luxury home market in Prince William County Virginia area is experiencing longer days on market, inventory is increasing, many are empty, and worst of all money is still tight for the move-up buyers. Anyone relocating to the area, or who currently owns a home is learning that their arevery strict financing guidelines pertaining to renting. For example, did you know that a homeowner who would like to rent their current home and who can cover the mortgage payment with a good solid tenant, still must qualify for both his existing home and his new home payment? That's right, unless a move-up buyer has 25% equity position in their existing home, they must qualify for both payments! Not many folks in the Prince William County Virginia area have such an equity position. If you do, you are one of the lucky ones. You could potentially have everything you dreamed of in a home, for not much more than you pay currently. The quiet storm looming could be your golden opportunity. Curious, let's talk.
Do you have questions about what your home is worth? contact me by email
or just give me a call 703-851-3085.
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
More and more these days in the Prince William County Virginia area, many homes that are truly gorgeous and renovated are not available to the first time buyer who is preapproved for an FHA Loan.
Everyday, I work with buyers who call all excited when they see a home in their price range that is perfect for them based on the photo's that they are seeing.
Then I have to drop the bombshell when they ask."Peggy, What Does NO FHA LOANS due to FHA Seasoning Mean In The Comments?"
Well, that seller cannot accept an FHA Loan. The only way you can buy that home would be to use Conventional Financing. That means you would need an additional one and half percent down payment to equal the minimum five percent down payment rule on Conventional Loans.
So let's say it was a $225,000 house x Five percent down payment= $11,250.
However FHA only requires a three and half percent down payment which = $7850.
That means you the buyer would need an additional $3400. to go to settlement.
The next question is always. Why?
Simply put. FHA has extended a ruling that allows investors who buy a foreclosed home to be able to FLIP them after the home has seasoned 90 days. This ruling is in effect until May 2010. So what that means is a person can buy a FORECLOSED HOME only, and renovate it and flip it at a higher cost. This program is in place to help revitalize neighborhoods across America and it's working. Most of these flips are stunning as seen in some of the photo's above. Now is it fair than an investor can buy a foreclosed home for cheap and fix it up and make tens of thousands of dollars in a few months? Yes...because they take the risk and they have the ability to qualify and have the vision needed to transform ugly homes into showplaces!
The good news is the these homes are MOVE-IN Ready and will require almost nothing except paint and your personal touch to make them home.
So what do you do as a Buyer to insure you can buy one of these homes:
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
Yes...It's Called Slugging!
If you are not from around here, you may not know what slugging is. Slugging is a unique form of commuting to and from work daily in DC. If you live in the Lake Ridge VA area and you have to commute into The Pentagon, Chrystal City, Rosslyn, L"Enfant Plaza area's you are in luck this service is "FREE!"
How does it work? Well here is a video I found on Youtube.com it's basically a commercial about the comforts of a Malibu car however listen to the comments of people who explain what Slugging Is.
There are actually seven designated organized Slug Lines in the Prince William County, Virginia area. Three is Stafford and one in Fredricksburg Virginia. Just follow this link to find out where Slug Line Form You can also learn more about Slugging and just how convient this form of communting is from Prince William County Virginia.
Try something new next week. Try Slugging to work and you may find you not only save money you Free up some precious time to do all the things you love before and after work!
Do You Need Help With Real Estate?
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
Every once in awhile a home comes on the market that makes pause.
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This home is for the person who loves the older style homes with character and charm. You hate the cookie cutter colonial home most builders have built in the Northern Virginia area. You are the person who is a non-conformist, who looks at this Southern Plantation Style home and gasps the words "Oh My God!" Your heart races and you just have to peak inside to see what's possible. My first question will be what would you do to decorate and transform this property into your dream home?"
Can You Imagine The Possibilities?
This home is located less than ten minutes from Dulles Airport,in the Chantilly, Virginia area. Not far from Marriotts Westfields Conference Center and the Expo Center. It's situated on 7.2 acre picturesque acres of land and the home features nine bedrooms and six bathrooms, and over a thousand square feet of porches overlooking the front lawn.
For more photo's,details or a Private Showing contact our office at 703-590-2252
This home is an Appointment Only Show.
To View Other Luxury Homes Currently Active In Fairfax County VIEW HERE
When it's time to Buy or Sell, give us a call. We would be honored to help.
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
When you're looking for a good Realtor in Prince William County, Virginia you have many choices.
However what makes us unique is we are a Real Estate Team. So when you hire Erick and Company to help you buy or sell, your not just getting one agent, you get two (Erick Blackwelder and Peggy Jamesas well as the assistance of our office manager Patty Blackwelder ( Erick's wife my identical twin sister)who keeps us organized and processes our files and helps you get to the settlement!
Throughout The Decades...Erick and Company
has been helping Prince William County Residents with their real estate needs
Erick and Company -The Family Real Estate Team you can count on
Peggy James Erick Blackwelder Patty Blackwelder
Remember behind every good man is a good woman and Erick has two!
Call us today at 703-590-2252
When it's time to Buy or Sell, give us a call. We would be honored to help.
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
Note: photo's above were designed on Yearbookyourself.com
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Eastern Prince William County Real Estate News Blog. Find Foreclosure and Short Sale Information and Active Homes for sale. We specialize in helping buyers and sellers in the Woodbridge, Lake Ridge,
Welcome
Eastern Prince William County Real Estate....
Eastern Prince William County includes communities up and down the I-95 Cooridor and east and west. I live and work in Lake Ridge Virginia.Lake Ridge Virginia is located 20 miles south of Washington DC. Lake Ridge is considered one of the most sought after affordable bedroom communities for commuters who commute to DC to work daily.
Lake Ridge Virginia is also centerally located between two military bases. Quantico and Ft. Belvior and is within communting distance of the Pentagon. Lake Ridge for decades has been a favorite of military transferee's. Lake Ridge Virginia is one of the nicest bedroom communities around the beltway that offers affordable housing, abundant communter options, employment opportunities, community schools and a great deal of shopping.
I live in Lake Ridge Virginia and there are more than 7000 homes in this community. This is a planned urban development that was designed to address the needs of the residence. Everything..all services are within a few miles from your home. We have Waterfront Homes, Acreage Homes, Luxury Homes, Non-Homeowners Assocaition Homes, Townhomes, Large and Small Single Family Homes, Townhomes and Condo's. We also have five Elementary Schools, two High Schools, and Two Middle Schools that service our community.
Let me just say " it's a great place to live!"
Lake Ridge has five pools, tennis courts and one of the best Active Homeowners Assoications around. The are many other communities that surround Lake Ridge such as Old Bridge Estates, Rollingwood Village, The Glen, Tacketts Mill, Park Center, Westridge,Twin Oaks, River Falls, River Falls on the Occoquan and County Center. These communities offer many home options from apartment complexes, condominiums, townhomes, luxury waterfront townhomes, garage townhomes, starter single family homes to acreage and custom single family homes. There's a home and a community that will fit your budget.
Some of the fun things in around Lake Ridge might surprise you. We have the Occoquan Resivor that runs the length of Lake Ridge many home back to the resivior. Then we have the Minor League team for the Nationals Baseball Team call the Potomac Nationals, and the town of Occoquan for an afternoon stroll on the banks of the Occouqan River and shopping.
River Falls on the Occoquan is one of the newest communities in the area. This community offers high end homes many with golf course views. My partner Erick Blackwelder explains more about River Falls.
So if your looking for a Realtor who knows the area well, then your in luck! I'm a member of a family real estate team. We're known as Erick and Company. That's a huge benefit to you, no matter whether you need to buy or sell. Imagine the benefits of having two Realtors with decades of local real estate experience working to help you attain your goals.
"Relax We'll Treat You Like Family!"
Erick primarily works with Buyers.( that's his passion and unique ability) Check out Erick's Blog. Me on the hand I work as Erick's Listing Specialist. I love handling all the details of helping sellers through the challenges of getting a home market ready and getting it SOLD. Learn how to get your home sold fast and Learn about what goes into Setting Your List Price.
When your ready to get started searching for homes in our area, we make it easy for you, you can set up a FREE E-MAIL SEARCH and automatically receive listings to your e-mail with NO OBLIGATION! You set the search criteria and frequency of delivery. Try it..it's FREE. So, when i
t's time to buy or sell in the Woodbridge/Lake Ridge area, you have many Realtors to choose from. However keep in mind when you choose Erick and Company you're getting a family team who works like a well oiled machine to help you attain your wants, needs and desires.We have always been the leaders in this area in sales and technology. What does that mean to you? It means we know the area well, we have our finger on the pulse of the market and we are strong negotiators on your behalf.Whether you are Buying or Selling we will help guide you every step of the way.
When Results Matter....Call Erick and Company
703-590-2252
If you are relocating to the DC Area-Check this out -
Need Information on commuter options
Need Local School Reports
You've Heard The News. Prince William County Has Been Hit Hard With Foreclosures. We publish and update lists weekly.
Learn up to the minute market information from Erick Blackwelder. Erick writes a weekly Woodbridge Virginia Real Estate Blog
You've Heard The News. Prince William County Has Been Hit Hard With Foreclosures. We publish and update lists weekly.
Learn up to the minute market information from Erick Blackwelder. Erick writes a weekly Woodbridge Virginia Real Estate Blog
Or visit my Lake Ridge Virginia Real Estate News Blog <a href=http://www.lakeridgevarealestatenews.com" target="_blank"><img src="http://activerain-internal.s3.amazonaws.com/outside_blog_button.png"></a>
TESTIMONIALS:
This is an email I just received from a happy seller! These are folks who had been trying to sell For Sale By Owner. Their home failed to sell. Once we started with our marketing plan it went under contract in 17 days! I just gave them good news, the home appraised right before Christmas and we are heading toward Settlment. Here is the sellers response:
Sent: Tue Dec 23 22:01
Subject: Fwd: Re: Good News!
Wonderful news! Yes, it is!! Thanks for all your excellent assistance in helping this happen! Merry Christmas!!!
Gordon and Sharon
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Peggy,
I thought it would have been nice to put you on "My FIRST PLACE or PROPERTY VIRGINS". As I watch these shows, the agents arent as friendly as you. I think that you have a presence that makes it easier to go into unknown territory. Hey based on your picture on the internet, I knew you were the agent for me. :) Again I appreciate all your help and trust me I will recommend anybody looking for a home to you. I will even make sure that they have a preapproval letter. :)
Stephanie Minor
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Peggy,
Thank for all your help with buying my home. I'd be lost without you! You have made the process easy, even though I didn't have a big budget. I can't believe you help me find such a nice townhouse in my price range.
Lisa Swanson
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Erick, Patty and Peggy,
THANK YOU! I must apologize for not getting back to you on previous e-mails. As you mentioned below it has been VERY hectic. Getting moved, adjusting the kids to the new place, etc. It has been fun but a little crazy at the same time.
Karen and I would like to thank you and Erick for all the help you provided us during our housing search. We ended up with a wonderful home and through it all you two were GREAT! I am just beginning a new career with the State Department so I will have an opportunity to speak with numerous people who over their career will be stationed within the Washington, D.C. area. I will make sure to sing your praises and ensure that anyone consdering moving to this area will have heard of the Blackwelder name.
Again, thank you for all that you have done for our family. It is greatly appreciated.
Warmest Regards,
Joe & Karen Benson
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