Norfolk, VA

Former Boxing Champ Muhammad Ali and his wife, Yolanda, are suing the couple who sold them their Louisville, Ky., mansion, according to multiple reports and Fox news.

Ali and his wife claim that the former homeowners, Patrick and Beverly Lancaster, lied to them about problems with the home. The problems were discovered after moving in.

The lawsuit states that the Alis were not informed of roof and chimney leaks, poor insulation, improper ventilation and mold.

Ali also says the Lancasters were well aware of these issues but still sold the home.

The Alis purchased the home in 2007

In Southern Virginia, Hampton Roads 7 cities from Virginia Beach to Williamsburg buyers are given a property disclosure disclaimer that states it is the buyer who needs to perform all prudent inspections and find out about the condition of the home, zoning, schools, and adjacent parcels before closing. However, it does not relieve a homeowner from disclosing all known relevant problems with the home. I do not like the form because it is not specific. I like the old form that asked specifically does your roof leak yes or no. Has your roof leaked yes or no. With the new form if someone is going to lie or omit info you will not know unless you figure it out later. In Hampton Roads, Of course certain property types are exempt from given any property disclosures at all such as bank foreclosures and new construction.

In Virginia Home Inspectors do not have to be licensed. Any Tom, Dick or Harry can grab a ladder and a clip board and do an inspection. I suggest to my buyers that they use a certified home inspector that are members of either the National Association of Home Inspectors Nahi.org or The American Society of Home Inspectors ASHI.org. These inspectors have to meet certain testing requierments and perform a required minimum of inspections to remain certified. So hopefully you will have a better chance at making sure items are not missed...........

If you are a veteran, active duty, or a reservist prospective home buyer. Listen up Dept of Veteran Affairs has announced new changes. According to update 26-11-12 the change will affect the funding fee.

The funding fee is the amount due up front or can be financed into the loan amount on a VA Loan. The purpose of this fee is to act as a mortgage insurance for VA lenders and is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit,. The benefit of using a VA loan versus an FHA loan is there is no monthly mortgage insurance premium paid. This can make a monthly payment on a VA loan significantly less. Interest rates are still at record lows and sales prices are very reasonable. If you are ready to buy or want to hear more about loan programs contact me today!

Fee Changes

a. For loans closed on or after October 1, 2011, the fee for 1st time us is going down to 1.4% with 0 down on subsequent use loans with

less than 5 percent downpayment and subsequent use regular refinance loans

will be 2.8

percent for both active duty Service members, Veterans, and persons qualifying based

solely on service in the Reserves or National Guard. This change is due to passage of

Public Law 112-26, Restoring GI Bill Fairness Act of 2011.

Reserves and national guard will pay 1.65% with 0 down

VHDA is pleased to announce an increase in maximum income limits, making
it possible for more first-time home buyers and anyone who has not purchased in last 3 years to qualify for a VHDA loan.

Income limits increased in all areas of Virginia.

In Hampton Roads: Now for a family of 2 or less if you have a household income of $79,600 (up from $71,000) and for a family of 3 or more the house hold income increases to $92,200 (up from $80,000).

For home buyers who meet this income limit, a Home buyer Education class and other documentation requirements would be required to qualify.

VHDA mortgages offer an affordable fixed rate usually at a minimum 3.5% down payment and for those that qualify for a VHDAPLUS loan this can help you with the down
payment requirement. For more info on locating a VHDA lender and loan guidelines give me a call asap.

Buyers: FREE Access to Home Listings, FREE 2-10 1yr Home Warranty plan, FREE Home Buying Consultation, FREE Transaction Coordination, FREE Buyers Representation Service, FREE Tours of Homes. Buyers receive and Sellers offer 1 MONTH FREE Cox Bundle Package. Sellers: Ultimate Marketing Package to get your home SOLD!

29th Annual Norfolk Jazz Festival. Presented by The City Of Norfolk

Downtown Norfolk has the regions longest running outdoor Jazz Festival. Mark your calendars now. The event will be held for two days, starting Friday, July 22nd at 5p.m until 11p.m and July 23rd 5p.m until 11p.m. There will be performances by Joyce cooling, Ramsey Lewis, The Rippingtons, Eugene Grove, Kim Waters, Pieces of A Dream, Spyro Gyra, and many more talented bands. Tickets are on sale now! You do not want to miss this great event.

Marion Meadows, Warren Hill and Paul Taylor will perform on Friday, July 22, 2011 as part of the "Gentlemen of the Night" tour for the 29th Annual Norfolk Jazz Festival in Town Point Park on the Downtown Norfolk Waterfront.

Admission: General Admission 2-day Combo ticket: $38, advance purchase only; Single Day General Admission Ticket: $28 per day; and Reserved Seating 2-day combo ticket (stage area seating, chair provided): $58, advance purchase only.

Event location:
Town Point Park
Town Point Park, Waterside Drive
Norfolk VA, 23510
(757) 441-2345

Selling A Home In Norfolk, Virginia.

Times have changed, and I am sure we can agree with that. So have the ways that we use to market properties that are placed on the market. When you put your home up for sale, they are in competition with Short Sales, Foreclosures, properties that are over priced, and properties that are priced to sell.

Make sure you are an informative seller. There is tons of free information on the Internet that can help to facilitate the sale of your home. Send for your free guide for the nine most Common Selling Mistakes. This guide will assist you on how to avoid common mistakes that sellers make.

When marketing your home, you should always describe the most appealing features of the property. Take plenty of pictures, these pictures should include the front, back, all rooms in the house, and the backyard if applicable. If your property is located in a subdivision that has a pool, bicycle/walking trail, make sure to mention these amenities. The guide Selling Your Home is a great guide to help assist you with this process. Click the link to receive yours today.

Pricing your property to sell, this is the most important thing you will do, when it comes to selling your home. The Right Selling price is critical! If you would like to receive a Home Evalulation, that would help you price your property to sell, just click the link and fill out the form to the best of your knowledge. There is no obligation to receive your Home Evaluation and all information given will be kept strictly confidential.