Vicky Chrisner

Do you work, live or own property in Loudoun? Do you like to be informed? I do, and I am going to tell you how to do it.

As a resident, it's important to be to know about serious crimes that are going on around my home. Things like business robberies, hostage situations, murders, serious assaults... even though I'd like to think that things like these wouldn't happen in my community, no one is exempt, and I want to know if they do.

I want to know about REAL Amber Alerts in a timely manner, and when there is a fugitive on the run. It reminds me to keep my eyes open looking for threats and trying to support my community by looking for these people.

I also want to know if my local government offices will be closing, because I often use their services, personally and professionally.

I want to know about weather related emergencies, like tornadoes, flash floods, or other sudden occurrences.

As a REALTOR, it's important to me to know of road closings (in Loudoun, in Fairfax or major arteries throughout the region) due to accidents, floods, construction or other things.

As a mom, especially as a working mom, I need to know when school is being closed or let out early, if there is a lockdown order issued, or other time sensitive school related situations. I also need to know when the federal government is closed, because weather related closings of the government mean no daycare for my son and no afterschool care for my daughter.

Loudoun Alert keeps me "in the know" on all these things. I receive text messages and emails moments after they are sent through the system. And, better yet, the messages come with no hype - just the facts. Often, even if I am out of town, I know what is going on faster than people who are blocks away from, or in the middle of, an incident. By the time they hear through the regular media or the grape vine, the story's been sensationalized and is greatly distorted.

Although I feared that being notified of all major incidents would frighten me, in reality it has helped me be informed and make sound decisions; and I also realize how lucky we are here in Loudoun with so few truly serious crimes. I really appreciate this service, and I hope more Loudoun residents will sign up for it. It is free, and to me, is invaluable.

Let's face it, Inquiring Minds Want to Know, and that means you! You can sign up, it only takes a minute or so, and you can chose which alerts you want to get and how. Just follow this link: https://alert.loudoun.gov

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And, if you really like to stay "In The Know", stay tuned to http://www.livinginloco.blogspot.com/... I'll tell you about the fun stuff here!

http://www.vickychrisner.com/
Keller Williams Realty, Leesburg, VA
Ofc: 703-669-3142
Email:VChrisner@KW.com

Like many, you've probably been thinking about moving up to a larger home or downsizing, or perhaps even relocating. But, the market has meant declining house values, and you're concerned that if you don't get enough for your home, you'll not be able to afford what you really want in your NEXT home.

Did I hit the nail on the head for you? You're not alone. It's always easiest to focus on the scary, negative thoughts - fear is a powerful emotion, in fact, THE most powerful emotion we have as humans. But, as humans, we have the ability to overcome illogical fear if we're willing to. Let me point out some things you may not know, or may not have put together.

SUPPLY AND DEMAND: Because of a decrease in supply for much of this year, home values in some areas have started to rebound slightly, and are making the sales process (when you price "right") easy for sellers. But, that won't last forever... banks are holding a plethora of homes in inventory (either they've stalled the foreclosure process or they haven't released foreclosed home for sale, for a variety of reasons). We expect inventory to pick up after the first of the year - if that happens, it puts downward pressure on prices for YOUR home. And, if you're trying to wait out the storm, you could be there a long while.

COMPARE THE SUBMARKETS: If your current home's value is less than $500K in Loudoun or $750K in Fairfax County, it's likely that supply is low, and demand for your home is high.

However, at higher price points in the same area, that's not the case. So, if you are "trading up" you may benefit from a seller's market when you sell and a buyer's market where you buy.

If you're relocating, you'll soon realize that our Washington DC submarket is quite different from other areas of the country. Many areas have massively depressed home prices allowing you to scoop up amazing deals. While buyers are markets are found in many areas, some of the best opportunities include Detroit, Michigan, most of Florida, the Las Vegas area and far more.

So, whether you're moving up or relocating, you have a very good chance of benefitting from seller market conditions when you sell, and buyer market conditions when you buy. Can it really get better than that?

INTEREST RATES: Let's face it, Americans buy with loans... so the interest rate for loans impacts you as both a seller and a buyer. Right now, the fed's rate is 0% and it can not go any lower. To artificially DEFLATE interest rates and spur more home buying activity, the fed has been buying mortgage backed securities. This has resulted in a "typical" 6% interest rate being reduced to an average hovering around 5%.

What does this mean in dollars? Well, for every 1% increase in interest rate, if you want to keep your payment identically the same, the price of the home must be 10% less. So, buyers that can pay $500K for your home today with a 5% interest rate, will only be able to pay $450K for it at a 6% interest rate. I bet you'd like to keep that $50K in your pocket, wouldn't you?

And, this won't last forever either. In fact, the fed has announced it will be phasing these purchases out and no longer plans to buy these mortgage backed securities after the first quarter of next year. That means if you are thinking of putting your house on the market in the spring, that could be a very poor decision.

EXPANDED TAX CREDIT: You've heard of the "First time home buyer tax credit" of up to $8,000? Well, that is coming to an end November 30th. BUT, it gets better... there's a new proposed program which will reduce the credit slightly (maximum of $7200), and it's not just for first time home buyers any more! If you are a first time home buyer OR if you've owned a home for 5 of the last 8 years, this credit's for you! Plus, the income limits are expected to increase.... Allowing people with higher incomes ($125K for one person, $250K for a married couple) to take advantage of the maximum credit. If this passes, it will expire APRIL 30th. This affects you as a buyer and as a seller. You may be eligible as a buyer; but even if not, your buyer may be eligible, and certainly many buyers in the market will be eligible, spurring activity and urgency to buy before April 30th of next year.

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Still not convinced? Call me for a personal consultation. I will be glad to help you sort through this, and other economic news, as well as to discuss your family's specific situation and help you strategize to make the most of what's available to you.

www.VickyChrisner.com

Ofc: 703-669-3142

VChrisner@KW.com

Stay tuned to the Real Estate Whisperer for more real estate news that affects you.

With the $8000 tax credit almost gone, why is this STILL a good time to buy?

PRICES (More House For Less)

Some submarkets have "hit bottom". In the Washington DC metro area, the industry professionals and economic experts believe that pricing for the lower half of the market (generally, under $500,000 in Loudoun; under $750,000 in Fairfax County) are as low as they are going to go, and many are predicting prices will start to increase, and in fact, in some areas, we've already seen that.

INTEREST RATES (Low Rates = Affordability)

The Fed's rate is 0%, which is as low as it can go. To artificially deflate interest rates, the federal government has been purchasing mortgage backed securities. They intend to phase this out by the end of the first quarter of 2010.

This effectively means that interest rates are artificially low right now - hovering around 5%. After the first quarter of next year, interest rates are expected to increase to an average of 6%. For every 1% increase in interest rates, to keep your payment the same, you must purchase a home that has a price that is 10% less. In other words, if today you can comfortably buy a home that is $500,000; by next spring you may only be able to afford a home that is $450,000. That makes a substantial difference in the amenities of the home you're choosing.

TAX CREDIT - Extended and Expanded

Last, but certainly not least, the tax credit dubbed the "first time home buyer credit" is expected to be extended, and expanded.

True, first time home buyers may see a slightly lower advantage to this tax credit (it may be reduced by 10%; so what is now a maximum of $8,000 would be a maximum of $7,200). However, many more will find advantages as eligibility is expanded to anyone who has owned a home for 5 of the last 8 years, and income limits are increased.

If this version of the tax credit passes, it will be extended only for transactions under ratified contract by April 30^th and that close by July 31^st of 2010. No one expects further extension or expansion beyond that point.

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Still not convinced? Let's talk. Let me show you what homeownership in the long run can do for your personal wealth, the continued affordability of your housing expenses and the quality of life for you and your family.

Vicky Chrisner

www.VickyChrisner.com

703-669-3142

Congratulations to the

The Kadarusman Family!

9242 Kristy Drive
Manassas Park, VA

Belmont Station Subdivision

It was a pleasure assisting Bill and Seiko and their family with finding their new home.

This three level townhome is located in Belmont Station in the Signal Hill area of Manassas Park, within walking distance from the VRE commuter station, and all the new shops, and luxury condos and apartments that are now being developed.

We were lucky to find them a fully renovated home with updated baths and all new appliances and flooring.... and all for under $200,000!

I wish them many years of happiness in their new home.


Best Wishes and Sincere Gratitude,
Vicky Chrisner, Keller Williams Realty
703-669-3142

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Search for your new home using the Home Search Option at www.VickyChrisner.com

Learn more about the real estate market at www.TheRealEstateWhisperer.blogspot.com

Every time I turn around there is some special event for DOGS here in Leesburg. Sheesh! You'd think they were part of the family or something.


Not too long ago, the "off leash" dog park opened at Olde Isaak Walton Park in Leesburg (just off Rte 15/King Street on the south side of town, near the Bloom grocery store). Olde Isaak Walton is a a 21 acre park with a small stream, huge 3 1/2 acre lake, a community center, picnic areas, hiking trails and now an off leash dog park.

The weekend after the official closing of the AV Symington Aquatic Park (aka the Water Park/Outdoor Pool at Ida Lee), they offered a "Dog Swim" with proceeds of the event supporting the non profit organization "Leesburg Dogs" who will use the money to continue its efforts to maintain the existing dog park, and they hope to have even more dog parks in the future.

The Historic Area in Leesburg is even getting in on the action! On Sunday is the 2009 "Dog Day in Downtown"! From 12 to 4, part of the streets will be closed off for a "doggie fair" of sorts. You're encouraged to bring Fido and snoop around. They will have lots of dog related vendors - doggie boutiques, pet sitters, photographers and trainers - and more. You'll also be able to find out how to support rescue organizations and perhaps even adopt a dog!

And, this year there's a costume contest for the dogs, with photographers on hand!

The event is rain or shine... and I hope you go and take lots of photos. My dog is not well behaved enough to go out in public, but what a shame... because she does SO like to get dressed up!

Please, send me your photos and let me know about your experience.


For more information on this event, visit http://www.meetmedowntown.com/ and click on October Events.... and to keep abreast of Loudoun Happenings stay tuned to "LivingInLoCo" here at http://www.livinginloco.blogspot.com/; where you'll find posts on things like:
Leesburg's 251 Year History
What Kind of People Live in Leesburg
and What You Don't Know About Leesburg Neighborhoods Until You Move In
For information on our local real estate market, visit http://www.therealestatewhisperer.blogspot.com/.

To search for a home for sale in Leesburg or the surrounding areas, use the Home Search Option at http://www.vickychrisner.com/. Or, run a Market Snapshot to receive a free emailed report that will give you the sales IN YOUR NEIGHBORHOOD.