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Home Buying in 20121 : Real Estate Advice

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  • Home Buying10
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Activity 10
Wed Apr 20, 2016
answered:
It appears your question has gone unanswered for a bit. Although technically, FHA has no minimum score, lenders do require, in most cases, a minimum score. You can continue to work with the credit service, but it might be time to contact an actual lender to help you go over the report, see where you are, and help you strategize so you can buy a home sooner, rather than later. Best wishes, Jim, Southern Trust Mortgage, Leesburg, VA. ... more
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Thu Sep 17, 2015
Amelia Robinette answered:
Bob Quarfoth at George Mason Mortgage, I've worked w/him on a couple 203k loans in Fairfax.
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Wed Aug 12, 2015
Amelia Robinette answered:
A Realtor isn't an expert on inspections, your best bet is to hire a specialist in this case. In Fairfax Co, the house won't go into drywall unless it passes all the county inspections, so from a safety point of view you should be fine.

Sounds like the bigger issue here is communication. Your Realtor won't generally have all of the costs at the tip of her fingers - the settlement agent is the resource that will provide title fees etc. With new construction there is often a relationship between the builder and the settlement agent, and sometimes the lender as well. All parties have to collaborate to get you the estimates. Keep in mind, that's what they are - estimates. It's difficult to know the exact numbers until you're closer to settlement.

Have a conversation with your Realtor about expectations and what info you need communicated and how you're going to get it. Seems that there may just be some miscommunication happening.

Congrats on your new house - the process can be painful, but in the end you'll be living in your new home, which is cause for happiness.
... more
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Wed Mar 11, 2015
Albert Sing asked:
I am trying to get out of my lease and the management company told me the owner paid a $3,000 commission and we would be responsible for the prorated amount which is about $165 a month.…
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Wed Mar 11, 2015
Albert Sing asked:
lease? We love the new home but can't afford to double up on rent and mortgage. We can break the lease but we are responsible for rent and utilities until the management company finds…
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Fri Sep 20, 2013
Akil Walker answered:
MM,


It depends on what is the plan after you move. In 5 years will you want to sell it or rent it out? Historically homes have appreciated at 4% average a year. That does not mean in 5 years your home has appreciated 20%!

Purchasing a home can lead to opportunity to build wealth and your investment portfolio. Choose wisely!
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Fri Oct 29, 2010
Cindy Jones answered:
Anyone notice this question is from October 2009?
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Tue Apr 20, 2010
Patrick Samson answered:
Hey LF,

I've lived in Centreville since 1986. I've raised 2 kids and 2 dogs and I've loved every minute out here. I originally grew up in Vienna, Va. which is now known for it's proximity to Tysons Corner and Washington, DC. I originally moved into Sully Station and was lucky enough to build a large custom home out in Pleasant Valley Estates in 2002. My kids went to Westfield High School and my son enjoyed a Football State Championship his senior year. My daughter played on the softball team that went to the State finals a few years ago.

If you asked me we picked the right community! If you go to my website patsellsvirginiahomes.com, and hit the link to Centreville, Va on the front page, you'll find several links to information on Centreville.

Best of luck to you! Let me know how your search ends up! - Pat
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Tue Apr 28, 2009
Jay Hurst answered:
It did take a while to see this one! I would imagine your taxes are done.

The simple answer is - check the rules for how it applies - we have it on our web site here:
http://www.mcleantownhouse.com/first_time_buyer_tax_credit.html

Then, if you are preparing your own taxes, you can see how it works best with a tax software program. If you have something like Turbo Tax, run the options and see how it shakes out. Or, take it to a pro.

Jay
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