Ellen Crawford-Virginia & Maryland Real Estate

I first entered real estate in 1988 (See bumper sticker from that era which read: "If you bought in '88, I CAN'T HELP YOU!") I was with Merrill Lynch at the time in the Fair Oaks office and I promise you they turned a pumpkin into a real brain. I remember going to several mortgage corporations for intense training as though I were becoming not a REALTOR but a loan officer. I knew just about everything the 10% of my working brain could hold. The Scarecrow and Dorothy were so proud of me! Subsequent to the 1980's blip in real estate, I was only too thrilled to hand the mortgage planning over to trusted loan officers with whom I work as the programs became more complex and personalized for each client's needs. Scroll down to the other day. I was in a continuing education course about the (GASP, NOT AGAIN) new regulations coming out in 2010 regarding good faith estimates and HUD-1 disclosures. The attorney who was teaching the course also had a trusted partner sitting in the classroom and the air was thick with genius - except me apparently. As he discussed how the closing statement will be uniform throughout the US better clarifying itemizations, I heard the term Yield Spread Premium. I was sucked up into the Kansas tornado vortex, knocked unconscious with my little dog - you know, the one the sellers say they don't have even though you can smell him despite the heavy masking of the heated potpourri oil. Let's say a mortgage broker has a fee of 1% of the loan amount which you pay to buy the loan, plus $500 processing fee on a $100,000 loan. In this case, the 1% is $1,000. If appraisal, lender's title insurance, and other costs to close the loan are $3,000, the total costs would be $4,300. The borrower can choose a rate of 4.875% with no yield spread premium (lender pays this). The borrower comes to closing with the $1,500 plus $3,000 or $4500.

The borrower can pay a slightly higher rate, 5.25% with 1% yield spread premium, paid by the lender to the mortgage broker (or bank). The borrower's fees will be $500 plus the costs of $3,000 or $3,500. The lender will pay the mortgage broker the remaining $1,000.

At an even higher rate of 5.65% with a 2% yield spread premium, paid by the lender, the mortgage broker keeps $1,500 and credits the remaining $3,000 from the yield spread premium to the borrower for all the fees.

Won't the mortgage payment be higher? OF COURSE. Why would a borrower pay a higher monthly payment when he qualifies for a lower rate? He can keep his cash in the bank and hopefully make more money in his investment portfolio.

Here's something the new HUD-1, GFE will clarify and force direct lenders to disclose - their profits. Today your bank doesn't have to disclose that profit to the borrower, whereas a mortgage broker will give you those three comparisons in writing. Are you on the Yellow Brick Road with me?

I remember being over my grandmother's house and smelling the black, moist, mushroomy scent of her earthen basement when she'd open the cellar doors out into the yard on a breezy day. She loved to bake coconut cake and I can still smell it as she toasted the white flakes before letting them rain through her fingers all over the icing. Marcel Proust would immediately recall his aunt's home in Combray, France the moment he'd savor a morsel of madeleine cake.

The scent of pine and chalk always reminds me of my early school days as I often slapped the board erasers together in the school yard for the teacher. When I smell lavender soap, I recall the craze of days gone by when everyone doused themselves in everything English when the Beatles were in their prime.

Sorry, but the scent of those little glass bulbs filled with liquid misery people plug into their homes today just don't evoke that same psycho-sensory elation. It's just a total turn off! It's like every buyer has told me repeatedly: "they must be trying to mask the smell of the kitty litter," or "NOTHING can erase that horrible musty smell rising from the basement, GAWD!"

Keep it simple when listing your home. There's an axiom in real estate: A clean home will always sell. Truer words were never spoken. If you believe in the new green, put some vinegar and water in a spray bottle and wipe down your counters in the kitchen and bath, and while you're at it, spray the mirrors. It will be a good reflection on you, sorry for the pun. If you want people to remember your home, why not let my buyer gush, "You know, - it was the one that smelled like Ivory soap."

There are so many great Historic Manassas VA Photos that it is hard to figure out which ones are better to post on my Blog and Prince William Homes for Sale website. On a web page as the file size of the page grows the page loads too slowly. Viewers will move on if the page takes forever to load, so I decided to post several Manassas VA Photos pictures on their own. I think it makes more sense instead of trying place them inside one Blog. As the Manassas VA Photos increase, I will expand the new web page that I have created devoted soley to Manassas VA Photos.

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Roy Rogers Manassas Park is a winning combination. The Best Fried Chicken and a Sunday Drive were made for each other. I am a fan of great friend chicken, and my favorite place is Roy Rogers. I think their fried chicken is one of the best, and I am a little biased towards "Roy Rogers" since I was a fan of his for many years and I still am. There are not as many Roy Rogers Stores Open these days areound hte DC area. The number of stores from its peak years ago has dwindled to just a few. We are fortunate to have one near by in Manassas VA Manassas Park on Route 28 heading southbound towards Old Town Manassas VA. It always looks like welcome home when you see the sign come into view. One taste say's your home again. "Happy Trails Roy!"

Roy Rogers Restaurant

8502 Centreville Rd
Manassas Park, VA 20111

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Nothing is more fun than going out for a drive when there is really not a lot going on. A great spot that I enjoy stopping at on a weekend if I have a moment is Kline's Freeze off Route 28 in Manassas Park. You can get a great cone with chocolate sprinkles on op, a Sunday or other great creamery treats! It is one of those landmarks that just calls my name from time to time. The Ice cream is great, and very reasonable. My favorite is a small twist one. I like to keep the pleasures in life simple, but the taste rich! If you are out for a Drive on Route 28, stop in and have a cone! You will not regret it.

Kline's Freeze

8200 Centreville Rd
Manassas, VA 20111-2665
(703) 368-2013

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