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Home Buying in Fairfax : Real Estate Advice

  • All241
  • Local Info15
  • Home Buying97
  • Home Selling18
  • Market Conditions7

Activity 107
Scott Miller, Real Estate Pro in Boca Raton, FL
Wed Jul 28, 2010
Scott Miller answered:
Hi Buyer. Don't be distressed. From what you wrote, I understand that you are now after inspection and waiting to close (hope I'm right). If you have a bona-fide, signed contract, you need to contact your attorney immediately and have him send a letter to the sellers advising them of your closing date, terms, conditions, etc. Under no circumstances should you be trying to do this deal without an attorney, preferably one that does real estate.

The letter will get their attention, and if not, a second one will. If they attempt to breach the contract at this point, there's a whole list of remedies for you to consider. Just ask your attorney.

GOOD LUCK and let us know how this one turns out!!

Scott Miller, Realty Associates, Boca Raton, FL
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0 votes 11 answers Share Flag
Iris Aponte, Real Estate Pro in Centreville, VA
Sat Jul 17, 2010
Iris Aponte answered:
Sonal Goda, Real Estate Pro in Reston, VA
Wed Jul 14, 2010
Sonal Goda answered:
Hi Home Buyer - for some reason your question got posted in the category of "Home Buying in Fairfax" (VA?) Maybe you can repost in Las Vegas so some local agents there can answer your question.

Thanks,
Sonal
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0 votes 1 answer Share Flag
Gerda Gaetjen, Real Estate Pro in McLean, VA
Wed Jun 9, 2010
Gerda Gaetjen answered:
My home purchased in 2000 has appreciated more than my investment portfolio
0 votes 6 answers Share Flag
Mier Jury,  in Fairfax, VA
Tue May 25, 2010
Mier Jury answered:
Dear Max,

You need an agent who puts your interest first above anything else and also who is straight forward and honest. He must also has extensive experience and knowledge in real estate industry . I think that I might be your person. I would like to meet with you to help you out. I had been in real estate both in residential and commercial for over 35 years (overseas and in the U.S. combined). I also sold new homes for the home builders in northern Virginia for 10 years and have great knowledge in construction and building homes after completion of construction course. I am a retired U.S. diplomat and speak 8 world languages. I have contacts with the international and diplomatic communities in the metropolitan Washington D.C. area including northern Virginia. Please contact me by email at mier.realty@ gmail.com or mier.jury@longandfoster.com. You may also call me at 703-303--7606. I hope to hear from you soon.

Sincerely yours,

Mier Jury, Realtor
Residential and Commercial Properties Specialist
Long and Foster - Centreville Gateway
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0 votes 13 answers Share Flag
Malinda Trim…, Real Estate Pro in Green Bay, WI
Wed May 12, 2010
Malinda Trimberger answered:
I agree with Anna, you should contact a real estate attorney. They will be able to determine what your options are and review your contract. As realtors, we are not allowed to give legal advice. ... more
0 votes 4 answers Share Flag
Trish O'Hara, Real Estate Pro in Annandale, VA
Thu Apr 8, 2010
Trish O'Hara answered:
I have shown most of these homes to other clients and am quite familiar with the development. I have a brochure available as well. I would be happy to assist, you can give me a call on my cell at 703-772-0795 if you would like to have more information or a showing. ... more
0 votes 3 answers Share Flag
Erik Weissko…, Real Estate Pro in fairfax, VA
Wed Apr 7, 2010
Erik Weisskopf,ABR,CDPE, answered:
EYA has a tremendous..and I mean TREMENDOUS history of outperforming their competitors in post sale appreciation. They are very careful with where and what they build. They got caught a bit with this project as it is a bit contemporary for the location. Sales are still good there though and suspect they will be getting better moving forward with the market momentum.

I sell a lot of new homes and use a specialized buyer checklist from my 22 years experience if you are interested. ALWAYS use and agent with NEW or resale. It cost you nothing to use an agent and it can cost you alot not too!

Any way I can assist please contact me.

Kind Regards,

Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Erik@AskMeAboutHomes.com
(C) 703.216.1222
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0 votes 1 answer Share Flag
Sonal Goda, Real Estate Pro in Reston, VA
Mon Apr 5, 2010
Sonal Goda answered:
Hi Albind - Now it is more clear - the main problem with changing the financing is that the bank will have to issue another approval, which will take time and it will be a hassle. If you have the time to wait for another short sale approval from this bank, then go ahead and change your financing. I doubt that the approval says the 3% seller subsidy will be approved only if it is FHA financing. It is your choice as far as the timeframe and if you can wait longer. Also, I don't know the situation and if the listing agent has back-up offers - there may be a risk with that - your agent will need to assess.

One important tip - make sure they do the title search sooner rather than later. I had a nightmare recently where we found out there were judgments that attached to the property after we got the short sale approval.

Thanks,
Sonal
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0 votes 8 answers Share Flag
Charles Cola…, Real Estate Pro in Herndon, VA
Fri Mar 12, 2010
Charles Colaco answered:
I would like start by saying you are a one smart and educated buyer and you have done your homework, there are some really valuable responses. I would not bore you by give the same info,but I would like to share my experence.

The areas you mention are all prime locations, and in last few months there has been shortage in listing or sellers and more buyers i.e. suply is low and demend is high. The one other area you might be interested is Oak hill ( 20171 ).

It not that there are no good deals out there, I have seen fews good condition homes sold for much lower than assessment or market value, the key in getting good deal is having few contingency and higher down or all cash. The most important is having knowlegable agent, whos works in your interest and not getting carried away in multiple offer madness.


You can use the following site to get the latest assessed value ( http://icare.fairfaxcounty.gov/Search/GenericSearch.aspx?mode=ADDRESS )



Charles Colaco, Realtor®, CDPE
Regal Realty Group Inc.

1 (703) 791 - 9003
charles@eRealtyService.com | www.eRealtyService.com
http://www.linkedin.com/in/rationale


Short Sale and Pre-Foreclosure Specialist
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0 votes 7 answers Share Flag
Pat & Steve…, Real Estate Pro in Westlake, OH
Wed Feb 24, 2010
Pat & Steve Pribisko answered:
I am a Realtor & an Attorney licenced in OH only, so my statements are merely my personal opinions. I recently "unwound" a Puchase Agreement, because of hardship, as a Realtor. It can be accomplished if all relevant personal information is shared by the Buyer to the Seller, such as a letter from the lender that says you no longer have a loan commitment because you are no longer employed. Your Buyer's Agent, if you have one, should be able to help you in Realtor to Realtor discussions. You need to retain an Attorney who handles residential real estate matters. You must be sure that the documendation created to release you from the obligation covers everything, so you are no longer a party to an agreement and the earnest money returned to you. ... more
0 votes 18 answers Share Flag
George Creed, Real Estate Pro in Vienna, VA
Sat Feb 13, 2010
George Creed answered:
Nee:
You don't tell us how close or "near" this home actually is. I am familiar with several hospitals in Fairfax County and I believe all have home within a close proximity. Some folk like living near hospitals for their convenience, especially if they have someone living with them that have medical needs. Also, many health providers like the convenience. Of course, if the ambulance or other traffic noise is a concern, then consider a home a behind or adjacent to the hospital, but on the opposite side, letting the hospital be a buffer or one that more distance away. If you need some assistance in locating a home, please contact me - I would be glad to discuss real alternatives. ... more
0 votes 7 answers Share Flag
Ashley Conye…,  in Alexandria, VA
Wed Jan 13, 2010
Ashley Conyers answered:
So far, good advice from everyone. What everyone is saying is true. The assessed value has little to do with the actual value of the home. There are other ways to determine what the home is worth to see how you made out the purchase of your home. If your agent prepared a CMA that would be vaulable in determing the value. You will be able to see what the other homes in that area sold for. ... more
0 votes 9 answers Share Flag
George Wali,  in Austin, TX
Tue Oct 6, 2009
George Wali answered:
I'm a real estate invester if you need help let me know i can help you buy a bank own house so you can have equity in it.

When ever you ready give me a call like a few weeks before you come out to see the house
my namber is 703-625-2310 George
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0 votes 12 answers Share Flag
Don Tepper, Real Estate Pro in Burke, VA
Mon Sep 21, 2009
Don Tepper answered:
Without beating around the bush, there are plenty of discount services out there. Redfin and Zip Realty come to mind.

And without beating around the bush, talk with a good mortgage broker on how to bring the interest rate down. Yes, buydowns are one way. But there are other techniques, too. And, really, I'm not sure what you're asking for will save you as much as you want or need. 0.8% of a $700,000 purchase is $5,600. Every penny counts, of course, And the $5,600 (1 point on a $560,000 mortgage--that's a $700,000 mortgage with 20% down) will drop the interest rate by 1/4%--at today's figures from 5.25% to 5.0%. Still, check with a mortgage broker (and your accountant) to make sure that that's the best strategy for you. ... more
0 votes 5 answers Share Flag
Freddy Solis, Real Estate Pro in Mclean, VA
Mon Aug 31, 2009
Freddy Solis answered:
Ammenities: The Best
An array of luxury amenities and features surrounds you at élan. With the convenience of an on-site gym, state-of-the-art business center, underground garage parking, two-level cascading pool and designer party room you have everything you need at one very special address.

Location: Excellent
You will find élan perfectly situated next to several major commuter routes. The convenience of the Vienna Orange line metro via FAIR LAKES SHUTTLE SERVICE allows you an effortless ride into the city. And with direct access to the Fairfax County Parkway, I-66 and Rt. 50, your commute can be made with ease.

Hope you have found the home of your dreams, if you are still looking, now is the time to buy specially if you are a first time buyer close before Nov. 1st 2009 to get a $8000 credit. Great incentive to get a home of your own, would be glad to guide and help you with the purchase of your new home.
Please call or email me if you have other questions about purchasing your home.

Elan at East Market is a great place to live.

Freddy Solis
RealEstate.com, REALTORS®
Capital Region
703-943-7844 Direct
703-955-3528 Fax
____________________________________________________
www.FreddySolis.com
The Real Estate coach helping achieve your goals.
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0 votes 4 answers Share Flag
Jasmine Hu,  in Great Falls, VA
Thu Jul 30, 2009
Jasmine Hu answered:
The real reason to need approval from PMI is that there might be some contractual restrictions limiting such things as total commissions a real estate broker may receive, or restrictions on seller concessions.

Those restrictions might not be recorded when the original loan settled yet it could be there. This is also one of the reasons that some short sales will take three months or longer after receiving an offer from a buyer.
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0 votes 3 answers Share Flag
Brad, Home Buyer in Fairfax County, VA
Thu Jul 30, 2009
Brad answered:
Fred,

I too am looking at a VERY (scary) similar house...also in fairfax. The timing of your incident corresponds with the MLS listing date of this same house... any chance you could sync up with me via email (bhiddemen at gmail). Would appreciate it! ... more
0 votes 11 answers Share Flag
Lauryn Eadie, Real Estate Pro in Reston, VA
Wed Jul 29, 2009
Lauryn Eadie answered:
Patti,

check out www.isellfairfaxareahomes.com for a market stabilization report in the area you are looking in. You can see data such as: asking vs selling price, number of homes sold in the last 3 months vs currently active; the average sales price of homes sold and active. This will really help to answer your questions... I hope you find it helpful. It has a great amount of data very easy to interpret. ... more
0 votes 1 answer Share Flag
Sonal Goda, Real Estate Pro in Reston, VA
Wed Jul 29, 2009
Sonal Goda answered:
Hi Deedee - are you talking about a short sale with an approval that is required from the primary mortgage insurance company? If so, there are no standard timeframes for approval and different banks, companies, and listing agents are better or worse than others at making this happen quickly. The best thing you can do is make sure it is conveyed to the listing agent, PMI company, and mortgage holding bank that you have urgency and the reason for the urgency.

If you are talking about something else, please comment back on this thread and clarify.
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0 votes 2 answers Share Flag
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