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Home Buying in Winchester : Real Estate Advice

  • All85
  • Local Info6
  • Home Buying21
  • Home Selling1
  • Market Conditions9

Activity 24
Sat Oct 21, 2017
Frank S. answered:
Hello Robmiller123, no you can not until you are owner. You should be very careful in putting in any improvements that you expect to benefit you financially until you own it. Many rent to own do not close.

You may consider 3.5% down FHA from a minimum 580 fico score and 3% down conventional from a minimum 620 fico score. If you have lower scores you my consider 10% down FHA with fico scores between 500-579. Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You should check your mortgage qualifications with the web reference link below and become owner before any renovations...
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0 votes 1 answer Share Flag
Wed Aug 12, 2015
Amelia Robinette answered:
Everything can be negotiated.

Unlike CO as mentioned earlier, the area around Paris, VA is a market where I'd strongly recommend you get a realtor to represent you. Something that has happened before, and looks like we're headed now, is that people are going under contract for new construction at let's say $100,000. When construction is completed and it's time for an appraisal, the values are coming in at $90,000.

You need to include an appraisal contingency in the contract, unless you're prepared to bring that $10,000 to the closing table.

Builder contracts are not the same as the standard regional contracts and the terms can vary widely. The appraisal example is only one element where professional guidance will help you tremendously. There are many other elements that require guidance.

I strongly recommend you find an agent who is very familiar with different types of builder contracts, as well as a great negotiator. You're welcome to contact me at and I'd be happy to recommend an agent in your area.
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Wed Aug 5, 2015
Sony Kim answered:
Or if you are looking to purchase... please allow me to work with you so that we can find the best location for your move... into Winchester.
0 votes 8 answers Share Flag
Thu May 2, 2013
Steve DuBrueler answered:
Josh - give Judy a call - She knows all about this home and what is going on with it.....TY
0 votes 3 answers Share Flag
Sat Mar 23, 2013
Steve DuBrueler answered:
Please call Robyn Graves at Success Mortgage 540-678-0800!
0 votes 1 answer Share Flag
Sun Feb 24, 2013
jlmgraves answered:
I have the exact same question Bud, but unfortunately we cannot get anyone to give us a straight answer. We have asked neighbors, real estate agents and people that work in and around the neighborhoods we found homes we liked. They all vary.

And I did find that checking crime reports [as seen online] is somewhat of a joke. For example, we live in a neighborhood that includes million dollar homes and half million dollar townhomes with a premier Country club. If you were to check the crime reports it would pop up quite a few crimes - varying from unleashed pet, to misdemeanor theft all the way up to a stabbing [It was quite interesting when the MedStar Helicopter landed on the soccer field adjacent to our home in the middle of the night. We had not heard a thing in our neighborhood until the helicopter landed.] Still, we live in one of the safest areas of Northern Virginia. So, they may be a start, but they don't tell me what I really want to know.

We love parts of Old Town Winchester, but getting to them is incredibly sketchy sometimes. With all those beautiful older homes it is as shame that so many have fallen to disrepair long before the housing market dived.

Good luck and if you ever figure it out, please let me know.
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Mon Jan 14, 2013
Fred Pollard answered:
Hello Keith, I would like to find you land to build on and a have a couple of questions: Your purpose for this land is it for residential or commercial use? Also if you can provide some parameters for my search this will aid me in formulating a search criteria tailored to your needs. I hope this email finds you doing well. Best, Fred. ... more
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Wed Sep 19, 2012
Don O'Wade answered:
Greetings Keith!

Just looked in the MLS this morning and saw that there are 30+ listings in the Winchester, Frederick County area that fit your needs. Let me know how I can help.

I live in the Frederick County area and know the area very well.

Don O'Wade - GRI, CDPE, ABR
Licensed in VA & WV
Long & Foster
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0 votes 3 answers Share Flag
Mon Dec 19, 2011
Annette Lawrence answered:
Banks are traditional lending sources. When a bank will not lend money you can turn to non-traditional sources such as Uncle Joe, the Buy Here - Pay Here shop, and yep, all those pay day lenders. Non - traditional money sources are more, much more expensive than credit unions and banks. Using them because no one else will lend money is often a trap that is extremely hard to escape.

What you must do is build your credit the very same way everyone else did, with discipline and patience.
#1. Set up a budget... a real budget that includes savings.
#2. Stay put for several months to establish an employment record and save a few bucks.
#3. If you have demonstrated you can live within a budget for several months, now you can apply for a charge card. Never leave more than a $60 balance at the end of the month.
#4. In six or eight months you may be able to sign a lease for an apartment.
#5 In two years you will have saved sufficient money, $5,000, for a down payment on a home of your own.
#6, Call your nearest real estate professional.

Don't entertain the idea there are short cuts. The process is as much about creating economic maturity as it is getting money. Have a plan, stick to it and you will reap the benefits.
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0 votes 17 answers Share Flag
Sat Aug 27, 2011
Nancy Shafer answered:
I live and work in the Winchester area and would love to help you find your home. Call me or email me and I. can help you
Nancy Shafer Experience Realty Group 5406629572
0 votes 2 answers Share Flag
Sun Mar 13, 2011
Designer1 answered:
Nora, I am writing this over two years later, so I am hoping you and your family are safe and have recovered from this terrible ordeal.

I am considering purchasing an owner financed home in winchester, va. thank you for sharing your experience. I will make certain that I use a real estate attorney who specializes in this type of creative financing. ... more
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Mon Aug 30, 2010
Vivianne Rutkowski answered:

Any chance your friend wants to purchase the property so HER HUSBAND can stockpile weapons and train terrorists?

Sadly, my birthday is September 11th, so I am somewhat paranoid about the issue.

I believe there should be some system in place to verify the foreign purchasers' ID's and intent.
Freedom of commerce is good and great; however, that freedom goes too far if other people must pay for it with their lives.
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Thu Aug 26, 2010
Janice Copeland answered:
Hi Kelly,

Unfortunately with short sales, everyone is at the mercy of the banks. Although your particular instance sounds odd, with short sales there can be several delays. I would say this question should be directed to your realtor for his/her answer. Your realtor is hopefully receiving updates from a short sale negotiator-- either a 3rd party or the bank's negotiator. Good luck to you! With patience, short sales can be a great purchase option!!

Take care,
Janice Copeland, REALTOR
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0 votes 7 answers Share Flag
Wed Aug 25, 2010
Kathleen Lordbock answered:
I am hoping that you have your own agent- he is the one to be contacting the list agent for updates if they are not being volunteered. Short Sales are not short on time, they are short on money. Patience is a requirement! ... more
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Tue Apr 27, 2010
Lori Jeltema answered:
I had a similiar thing happen with my buyers last year and they had to provide evidence that the deferrment had been extended. Just showing their lender that they would not get their degree until later was not enough, they had to get the correct documentation showing deferrment. It sounds like you are just not supplying them with the specific info they need. Remember, the lender wants to do your loan - they aren't demanding more information for the fun of it. Sit down with your agent and go through exactly what is required and you should work it out. ... more
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Mon Apr 26, 2010
Beth Paisley answered:
Deborah, you need to speak with Ruth Boden at Loan officer at MidAtlantic Farm Credit 540-662-3473. The work with land and farms and maybe could hold the loan in house. Please let her know I sent you and good luck.

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Thu Apr 22, 2010
Patrick Samson answered:

This is not a lender question, it's an IRS question. The credit is from the IRS, so I suggest you contact the local IRS Branch and ask them. If I was a betting man, I'd say this still qualifies based on you living in a portion of the property.....check it out and write back.

Best of luck! -Pat
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Tue Apr 20, 2010
Natalie Langford answered:
I'm so sorry you're going through this. One idea, if you are content to rent, is to talk to the list agent about this. Most real estate professionals tend to call the list agent to touch base on the property prior to showing it. This would give the list agent an opportunity to express your wish to stay. Investors are still showing an interest in purchasing homes in our local market. An investment that already produces income could very well be appealing. I hope it all works out for you. ... more
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