Reston : Advice

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Robert Green…, Real Estate Pro in 08003
Robert Greenblatt, MBA answered:
I am considering buying a TH in S. Reston near (<Mile) the Wiehle metro stop on the assumption its value will increase significanlty. Is this?
That is a speculative purchase. If you are purchasing to live there for many years, your thought process should not be overly concerned about short-term gain. Unfortunately, there is n ... more
0 votes Share Flag Sun Jan 30, 2011 Market Conditions in Reston
Tony McMahon, Real Estate Pro in 20601
Tony McMahon answered:
We own a home in 20194 (Reston, VA) that is worth less than we owe. We are being transferred (military) and need help with our options.
Since you are being PCS, you may be able to qualify for the Governments HAP program ( See attached link). I have personally helped a military member sell their home via the HAP program ... more
0 votes Share Flag Tue Jun 14, 2011 Home Selling in Reston
Cindy Jones, Real Estate Pro in Alexandria, VA
Cindy Jones answered:
What is the difference between square footage total finished and tax living area? Looking at condos in Reston, VA and I noticed different numbers.
Don't even try to use the square footage numbers in the MLS or tax records as a gauge for buying a condo or home. There are lots of inaccuracies in both sets of numbers. Total sq ... more
0 votes Share Flag Mon Dec 20, 2010 Home Buying in Reston
Young Choi, Real Estate Pro in Fairfax County, VA
Young Choi answered:
RE: offer price for a short sale or REO [Reston VA Nov-2010]
Hello Susan,

There is no set of rule. It depends on the property and price. If there is no other offer then we can negotiate for offer. If there are multiple offers then you might ... more
0 votes Share Flag Fri Nov 26, 2010 Home Buying in Reston
Lauryn Eadie…, Real Estate Pro in Reston, VA
Lauryn Eadie 703-898-4771 answered:
Can lender charge 30 days of daily interest regardless of the day you close (UPDATED)?
Aguiasia,

Mortgage loans are paid in arrears, this means that when you make your January 1st payment you are actually paying your principal and interest for December. This is why th ... more
0 votes Share Flag Wed Nov 17, 2010 Home Buying in 20191
Jay Hurst, Real Estate Pro in 22101
Jay Hurst answered:
Can lender charge 30 days of daily interest regardless of the day you close?
Differant lenders can have differant policies. Is this interest or escrow?
There is a restriction on just how much they can esrow, but I am pretty sure 30 days or less falls under tha ... more
0 votes Share Flag Tue Nov 16, 2010 Home Buying in 20191
Cindy Jones, Real Estate Pro in Alexandria, VA
Cindy Jones answered:
I am looking for a condo In Reston. How do I learn the percentage of units being rented out in a community? that usually affects property values.
The association management company will have that information. Usually your lender requires the completion of a condo questionaire to see not only how many units are owner occupied but ... more
0 votes Share Flag Mon Nov 1, 2010 Home Buying in Reston
Ken Patterson, Real Estate Pro in Rocklin, CA
Ken Patterson answered:
I am trying to estimate what homeowners insurance would be for a townhouse in Reston, VA ....
Fastest way is to go online to a major insurer website. Next option is to call a local insurance agent. They can work up quotes in short order.
0 votes Share Flag Thu Sep 23, 2010 Home Insurance in Reston
Lyn Villanue…, Real Estate Pro in McLean, VA
Lyn Villanueva answered:
I am supposed to close Monday on a short sale I have been trying to purchase for the last 5 months. Originally the closing date was October 20th,
It appears that the settlement will take place. Sooner than later. Most short sale may take longer. Glad to hear that your date got moved up sooner.
0 votes Share Flag Tue Sep 21, 2010 Home Buying in 20190
John Fitzger…, Real Estate Pro in Fairfax County, VA
John Fitzgerald answered:
Do companies pay ground rent,if so how should it be paid and what are the penalties for not paying?
Outside of the City of Baltimore, where ground rent is common, residential property ground rent is very rare here. The only residential development of which I know that pays ground re ... more
0 votes Share Flag Wed Sep 8, 2010 Rental Basics in Reston
Monika Kumar, Real Estate Pro in Sterling, VA
Monika Kumar answered:
I own house which i will be renting out and I am buying another one what do i have to watch out for
Hi Lucky one, Have you seen the lender already. Thats the first thing I would do before making any plans.

Second define the realistic rent price and overall what it will cost you the ... more
0 votes Share Flag Fri Nov 5, 2010 Rent vs Buy in Reston
Suzanne Maja…, Real Estate Pro in Gainesville, VA
Suzanne Majali answered:
I am in Acton MA and *love* it here. The family orientation of the community is fab, as are the *excellent* schools. However, more than any other
I personally love the Haymarket area of Northern Virginia. Wonderful community, hometown feel, and the schools are among the best in Prince William County. Feel free to give me a call o ... more
0 votes Share Flag Fri Aug 6, 2010 General Area in 20194
Jennifer Riv…, Real Estate Pro in Quantico, VA
Jennifer Rivera answered:
Do you know of any new construction? Looking to move the late part of 2011 and I want only topurchase a New Townhouse.
Yes, I would be happy to send you information on new townhome communities. Please contact me with the specifics, and will get the info to you ASAP.
Thanks,
Jennifer Rivera
Move4 Fre ... more
0 votes Share Flag Wed Apr 21, 2010 Home Buying in Reston
Andy Krumholz…, Real Estate Pro in Reston, VA
Andy Krumholz, GRI, CDPE answered:
1031 exchange - Sale of land in W.VA to a condo/TH in reston VA
Hi Ram,

This can be done. Here's an example:

2 Bd/1 bath Condo in the Savoy at Twon Center
Price: 280k
less 80 down payment
Mortgage of 200k
Principle & Interest ... more
0 votes Share Flag Wed Apr 7, 2010 Home Buying in Reston
Debbie Tencza, Real Estate Pro in Reston, VA
Debbie Tencza answered:
When will the metro come to Reston?
Construction is under way. Just take a ride down the Toll Rd and you will see lots of activity. Wiehle Station is about 2-3 years out.!
0 votes Share Flag Thu Sep 22, 2011 General Area in Reston
Mack McCoy, Real Estate Pro in Seattle, WA
Mack McCoy answered:
I am selling primary residence for large loss.. How do I convert to rental property without renting, ie how long do i have to advertise to rent and?
I think you need to ask a tax lawyer how to do this in a way that you can explain to the IRS when you get audited.
0 votes Share Flag Sun Jan 17, 2010 Home Selling in 20194
Monika Kumar…, Real Estate Pro in 22182
Monika Kumar & Realty Geeks answered:
I have had a rental property for 5 years. How long does it have to be my primary residence to escape capital gains?Any other loop holes?
Dear Scott,


This is what I know;

2 years of last 5 years. It does Not have to be consecutive but 2 in Last 5
You can only sell one primary residence in last 2 years.


PLEAS ... more
0 votes Share Flag Sun Jan 17, 2010 Home Selling in 20194
Eve Thompson, Real Estate Pro in 20190
Eve Thompson answered:
Is it typical for a realtor in Virginia to ask the buyer to guarantee a 2.5% commission plus add'l $300?
All commission is always negotiable. Buyer's Agent Commission is posted in the Multiple Listing System--in our area MRIS, and is determined by the Listing Agreement. Your Buyer Broker ... more
0 votes Share Flag Sat Jan 23, 2010 Home Buying in Reston
Eve Thompson, Real Estate Pro in 20190
Eve Thompson answered:
What happens when you get a ratified contract and then your bank does not meet the set closing date? Will the?
I'm sure your agent will ask you and the sellers to sign an addendum that adjusts the settlement date so that you won't be in default.

Eve Thompson
703-582-6475
Long and Foster
0 votes Share Flag Sat Jun 20, 2009 Home Buying in Reston
Sonal Goda, Real Estate Pro in 20190
Sonal Goda answered:
If I switch financing options, will this affect the offer that I submitted to the seller? I am buying a short
Hi - if you are changing the type of financing - conv to FHA or VA, lowering the amount of downpayment, changing from an adjustable rate to a fixed rate - these are things that the sell ... more
0 votes Share Flag Mon Jun 22, 2009 Home Buying in Reston
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