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Home Buying in 20152 : Real Estate Advice

  • All47
  • Local Info2
  • Home Buying29
  • Home Selling7
  • Market Conditions0

Activity 26
Wed Apr 5, 2017
ben answered:
Yup, it April 2017 and bs is still the same with VA loans! The VA buyer beat everyone and made the best offer, everything was negotiated including price. I raised concerns about VA loan appraisals and was told there was nothing to worry about. Needless to say, the VA appraisal came in $10K short and the buyer does not want to pay the difference or even negotiate again. Either I drop the price to appraised value or the VA buyer walks. I have just wasted 2 months of valuable marketing time and my house is going back on the market. I don't want to exclude VA buyers but if I ever have a VA buyer again, I will ask them to sign an agreement that they will pay out of pocket any difference between appraised value and agreed contract price. Otherwise, they can look elsewhere. Hate to do this but is the VA loan program expecting sellers to just take a hit? Thank you for your serve veterans but I am not taking a hit. ... more
0 votes 24 answers Share Flag
Mon Nov 14, 2016
arshadazeem asked:
I am interested in buying a house in Chantilly, VA (Loudoun County, VA). After placing the offer i learnt that the seller didn't get permits for the finished basement. I asked him to…
0 votes 0 Answers Share Flag
Wed Sep 28, 2016
Mark McDaniel asked:
very interested

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This question was asked from this property: https://www.trulia.com/foreclosure/3207671332-42718-Otis-Ln-Chantilly-VA-20152#photo-6
0 votes 0 Answers Share Flag
Sun Feb 1, 2015
Lidia Dennis answered:
Van Metre Home Builder is one of the best Builders in Northern Virginia I worked with. Depending on the building stage where the Builder can be flexible. You will know for sure if Van Metre would allow the credit- if you ask. ... more
0 votes 1 answer Share Flag
Mon Sep 29, 2014
Galia Taneva answered:
So you are selling your home yourself? Hope you are at least paying a compensation to the buyer's agent so you can at least have somebody that knows what they are doing in this transaction!
Good luck!
... more
0 votes 2 answers Share Flag
Fri Sep 19, 2014
Giorgio Danso answered:
Hi Vicki,

This is somewhat of a loaded question. It depends on the reason behind the failure (appraised price, repair/condition requirements. etc.). However, another VA buyer may be able to purchase the home. If you would like more information on VA lending and appraisal standards, I would recommend speaking with a VA lender or perhaps speaking directly to an agent. I am always available to assistance if needed!

Best of luck,

Giorgio Danso
Coldwell Banker
giorgiodanso@gmail.com
571-263-6868
... more
0 votes 4 answers Share Flag
Sun Mar 2, 2014
Eve Weber answered:
Builders have all sorts of ways they promote the sale of new homes. Ultimately they have particular numbers they need to meet in order to maintain a profit and if they can make more from an unrepresented buyer, they will. A real estate agent will guide you through the process and ensure you receive the benefit of their years of experience. Home buyers who are unfamiliar and new to this process should obtain the assistance of a licensed REALTOR to make sure their best interests are protected. Your agent will be your advocate, they work for you and want what is best for you - Find one that has the experience to help you get the best deal possible. Builders aren't the enemy - they have a product to sell and you need to be well informed before, during and after your home is constructed. Best of luck in your home purchase. ... more
0 votes 7 answers Share Flag
Tue Feb 4, 2014
Susan Templeton answered:
Fair questions of any Realtor:
1. Ask to see their listings that are active or sold (your specific type/location/price range)
2. Are you a full time Realtor? "R" logo on cards means they abide by professional ethics
3. Will I be working with you directly? (and do you like the person, feel they 'get you')
4. How will my property be listed and what costs do you expect me to pay for (specifically)
Remember, you can fire your Realtor or Lender at any time you are not happy with their service. If you decide things are not working, have a direct and professional converation about your concerns first to see if you can resolve your issues. Good luck!
... more
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Mon Feb 3, 2014
Rich Triplett, RealtorĀ® answered:
Well, the simple answer is "it depends". Your choice of words (" ... before we SHOWCASE OUR TH") indicates you understand the importance of first impression. Obviously matching appliances "look" better, and stainless steel remains a favorite among Buyers. Will your house sell without the new stove ? Well, getting property sold is as much about pricing as condition; in fact the two are commingled. Better SHOWCASED HOMES SELL FASTER AND GENERALLY FOR MORE MONEY than other similar homes in the area. In the end, if your Southriding home shows well (except for a mixed matched stove) and is priced right, it should sell fast. Contact me if you want an opinion on pricing and or other suggestions for enhanced showcasing. ... more
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Wed Jan 29, 2014
Travis Moelker answered:
Great question! It basically just comes down to the comps in your area. If you can put a deck up for 1k and still get the money out of it that you need it is going to be a great selling point. People love their outdoor living spaces. Good luck on the sale! ... more
0 votes 12 answers Share Flag
Tue Jan 28, 2014
Abby Matson answered:
I agree with a lot of the comments below. If there are other builders in the area that you would also consider, definitely compare pricing and let them know that you're shopping elsewhere. I recently worked with a client who did just that. We found a home they loved but after seeing what was included they were not getting much value for the price. It was easy to get drawn into the model home but in reality they would not be getting any upgrades. The sales person kept telling us that their prices were firm and that they didn't negotiate on price or upgrades. We kept looking and over time the salesperson contacted us several times letting us know that they were willing to offer x,y, and z incentive since they were trying to meet a quota for the month. In the end my clients ended up finding a different builder that offered lots of upgrades as an inclusion and in my opinion they are getting a lot more value for the money. My advice would be to definitely shop and compare and make sure that you're not overpaying for a home just because it's new. Hope this is helpful! ... more
0 votes 8 answers Share Flag
Tue Jan 28, 2014
Susan Templeton answered:
Closing costs can be paid by the Seller, usually between 3 and 4%. Some fees are fixed so the % can be higher for smaller loans. Depending on the county and your Purchase Contract, the Seller usually pays the sales tax or 'excise tax' so be sure what is agreed going into the closing. ... more
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Tue Jan 28, 2014
Matt Elliott answered:
If you are referring to the deposit they are asking you to pay at the time of the contract, it's a typical request. Builders typically ask for anywhere from $10K - 10% of the sale price at the time of contract. In my experience in representing buyers, builders will work w/ you on the timing of that deposit, and might likely reduce it.

Like the others before me have stated, this is where it makes sense to have your own representation of a solid (professional) real estate agent. The builder has already priced our fees into the home; when you go in without an agent, you simply put more money into their pocket and miss out on good representation.

Best,

Matt Elliott
703.627.2167
... more
0 votes 4 answers Share Flag
Wed Dec 18, 2013
Andy Padmanaban answered:
Avonlea is a great community. My brother-in-law just bought a townhome a year ago for almost that price, so I believe you are ok price-wise.

The community is great because you have a shopping complex just a short walk from where you are.

Also - these townhomes are huge in terms of sq footage. So if I were you, I won't be worried.


Regards,
Anantha Padmanaban (Andy)
RealtyZone
703-980-5265
... more
0 votes 3 answers Share Flag
Wed Jun 12, 2013
bobmgddelrio answered:
Thu Feb 9, 2012
Kelly Cooper answered:
The Ridings at Blue Springs is a great community and the kids attend a very good elementary school down the street. We know several families currently living there and several kids at the school. I wouldn't worry about the tax assessment as it has no bearing on a property's market value (what buyer's are willing to pay). What you need to focus on is that Loudoun County has very low unemployment (4.1% as of last month), thousands of jobs being created on a yearly basis, lower foreclosure rates than the majority of the country, excellent schools and facilities and an influx of people on a monthly basis because our economy is so strong. If you are thinking of buying, I wouldn't wait much longer - there is tremendous value in Loudoun County housing and with rates so low now is the perfect time to get qualified and buy. Look forward to seeing you at school! ... more
0 votes 8 answers Share Flag
Mon Jul 25, 2011
Vivianne Rutkowski answered:
http://www.shortsaleluxuryhomes.com/Loudoun_County_VA/page_2449780.html

To agent who posted this link:

In Virginia real estate agents must be affiliated with a broker AND the broker's name and address must be disclosed on all websites and in advertising. Your website is not doing that. ... more
0 votes 11 answers Share Flag
Thu Dec 17, 2009
Mary Jane McDaniel answered:
They probably want to be sure that you are employed and have the income to pay the mortgage.
0 votes 4 answers Share Flag
Thu Dec 17, 2009
Nektopoli answered:
At one visit I did fill out a sheet of paper with my contact info and it's ask if I had a buyer's agent to which I answered yes at the first two I didn't fill anything out and and at only one of the first two incentive were discussed. I talk to my agent about this and he ask some of the sales peoples name knowing some of them, Jim at that time I did not have a written agreement with my agent so I don't know if technically I am considered to have one. ... more
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Sat Dec 5, 2009
Don Tepper answered:
Neither.

Assessments have absolutely nothing to do with what a home is worth. Nothing. Nada. Zilch.

Prices have declined in Loudoun County (as well as Prince William and most areas of Fairfax). What's happened in a lot of areas is that the price declines have outrun the assessments. For example, let's say a home is assessed for $300,000 on January 1, 2009. That assessment is based on sales trends from the latter part of 2008. But as we know prices were declining during that period. So, let's say a home sold for $310,000 in October, 2008. An identical one sold for $300,000 in November, 2008. An identical one sold for $290,000 in December, 2008. If we took those three, we might average them out to $300,000. But I'm sure you noticed that pattern--the declining prices.

So in January, 2009, one sells for $280,000. In February, 2009, one sells for $270,000. And so on. Now, prices started stabilizing around mid-year. But it's easy to see how a home assessed for $300,000 could be priced 15%-20% less.

And that's assuming assessments reflect true values, which they don't. In neighboring Fairfax County, the county considers an assessment accurate if it's within the low 90% range. In other words, Fairfax County would consider $300,000 an accurate assessment regardless of whether the property's real value was anywhere from $276,000 to $324,000. I'm sure Loudoun has a similar policy toward assessments.

To answer your specific questions, there's nothing wrong with the area. Chantilly is fine, especially if you work in Dulles, Reston, Centreville, Fair Lakes, Fairfax, etc. It's a bit of a hike if you work in D.C. or Alexandria, but plenty of people do it. And it's close to Dulles, to major transportation routes (Route 50, I-66, Route 28, etc.), and to lots of shopping and activities. Many people consider the Loudoun County schools to be good (as I Realtor I can't specifically comment on them). So, there's nothing wrong with the area.

As for good buys, there are plenty of them in Loudoun County. Loudoun was hit a bit worse than Fairfax County (though not as bad as Prince William). It's bouncing back nicely, though.

Feel free to contact me if you need any help or advice in buying.

http://www.WeSellVirginiaHouses.com
Don@Solutions3DHome.com
... more
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