Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

20151 : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying5
  • Home Selling1
  • Market Conditions0

Activity 38
Wed Jan 30, 2013
Tim Moore answered:
They will want to know what you were doing prior to working 16 months. School would be a good answer.
0 votes 4 answers Share Flag
Tue May 7, 2013
Annette Levinson answered:
Mon Apr 21, 2014
Leila Brown answered:
Sreekumar,

I suggest you find an agent and meet with that person and let them know what you are looking for in a rental. He/she can then send you properties that meet your criteria and arrange for you to see the ones you like. Call me at 703-850-4330 if you would like me to help you.

Leila Brown
Keller Williams Realty
McLean, VA 22101
dcandvirginiaproperties.com
... more
0 votes 6 answers Share Flag
Wed Dec 18, 2013
Tim Moore answered:
At some point there will be an appraisal done to determine the value based on the plans & specs being proposed by the builder. This is designed to protect the lender and you.
0 votes 2 answers Share Flag
Sun May 22, 2011
Ron Thomas answered:
there are many companies which underwrite PMI. you would have to contact your carrier. you also may be able to ask your Title Company; they were working for YOU when you bought the house and they want your buisness and referrals, and I have found that they are usually very nice people without an axe to grind. They may have that info. ... more
0 votes 7 answers Share Flag
Mon Jul 25, 2011
Sally Grenier answered:
All short sales are different. Some go smoothly, some are difficult. Some go quickly, some take months. It depends on how many lienholders are involved, and who they are (some banks are better than others). Just because the seller accepted your offer, doesn't mean the bank will. They could come back months from now and ask for a higher purchase price. The key is to be patient, and stay in constant contact with your Realtor. (And make sure your Realtor is in constant contact with the listing agent and/or third party negotiator). If you get requests from the bank or negotiator for things, you jump when they say jump. Good luck! ... more
0 votes 11 answers Share Flag
Tue Feb 1, 2011
Jim McCowan answered:
It won't hurt, but it might be a good idea to do it together just so you'll know what your credit scores are.
0 votes 14 answers Share Flag
Thu Sep 22, 2011
Kevin Berry answered:
What size daycare are you planningf? What is your price range? You can search my website for possible locations.

Kevin Berry
Associate Broker
Realtor
RE/MAX Gateway
703-593-8048
0 votes 3 answers Share Flag
Thu Feb 12, 2015
Don Tepper answered:
Here are the active listings for homes in that area--stretching from Dulles down to Fair Oaks. There would be a lot more if the search were extended down the 66 corridor toward Tyson�39;s, but since you specified Chantilly I kept it in that area. All these are 15 years old or less, not more than $600,000.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?ID=37645397756

If you'd like a broader search, just let me know.

Hope that helps.
... more
0 votes 4 answers Share Flag
Thu Sep 22, 2011
answered:
This will most likely not make a difference in the appraisal. The square footage matters more than 3 vs. 4 bedrooms.
0 votes 5 answers Share Flag
Thu Apr 10, 2014
Anna M Brocco answered:
If you are concerned about crime, your best source of information is the local police department--visit/call and ask all your questions--they'll gladly help.
0 votes 2 answers Share Flag
Mon Jun 21, 2010
Dan Chase answered:
The listing agent has their highest priority as the person selling the house. That means they are looking out for the seller, and not your best interests.

I would use a different agent. It would be bad if you mentioned you could afford $125k but only wanted to pay $100k for this house. You might find the listing agent relays that information to the seller and they try to force your bid higher. After all, you could afford it. ... more
0 votes 2 answers Share Flag
Thu Feb 9, 2012
Vicky Chrisner answered:
No, there's nothing wrong with that community, it's just not part of South Riding. I know it well. Some great homes there. The tax value, in and of itself, has no bearing on the real estate market. Once a year they assess the properties - I talk about this some in this post: http://therealestatewhisperer.blogspot.com/2009/11/automated-valuation-system.html I'd love to chat with you in more detail about the market, where it's going and what that might mean for you. Please give me a call tomorrow 703-669-3142 or send me an email vchrisner@kw.com ... more
0 votes 8 answers Share Flag
Thu Sep 22, 2011
Debra (Debbie) Rose answered:
HI Nek

Did you mention that you had an agent?
Does the builder cooperate with agents?

In my experience, your agent would have had to take you to the site, and sign you in, in order to be recognized and paid a commission. That's how it is done here - it may vary where you are.

At this point, have your agent call the sales office, explain what happened, and see what they say. I would think in this market, they would welcome you back.......... even with your agent.

Good luck!
... more
0 votes 8 answers Share Flag
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
0 votes 0 Answers Share Flag
Wed Jan 30, 2013
Andy Krumholz answered:
Hi Zaid,

There are three ways to do a 5% down payment (DP) or less these days. The obvious answer is to do an FHA loan which requires a minium of 3.5% down payment. You can put down more then 3.5%, that is just the minimum DP required. If you're a first time buyer, you may also qualify for FHA+ plus loan. This combines an FHA loan with VHDA (Virginia Housing Department) loan that actually allows you to finance up to 101.5% of the purchase. The extra 1.5% can go towards closing costs. The third financing method, is do a conventional loan with a 5% DP. Not all lenders offer this, but if you qualify, it is obtainable.

I hope this helps you. If you need a couple of good lenders who can do these loans or answer any additional loan questions you might have, please feel free to contact me.

Regards,
Andy Krumholz, GRI, CDPE
Keller Williams Realty
www.utopianhomes.com
ajkrumholz@yahoo.com
(703) 599-4755 - cell
... more
0 votes 6 answers Share Flag
Wed Sep 9, 2009
Andy Krumholz answered:
Hi Zaid,

While it often times doesn't seem fair, a seller may favor the conventional loan over an FHA loan for a couple of reasons.

Typically, a borrower taking out a conventional loan is only financing 80% of the purchase (down payment of 20%) which makes them appear to be a more qualified purchaser. The real reason though is that FHA appraisers are more difficult and more stringent with their appraisal in comparison to their more lenient conventional appraiser counterparts. If the home is in need of some significant repairs, often times the FHA appraiser will want some of these repairs made prior to the loan being made, where the conventional appraiser would not make this demand. If you're the seller, this usually means that you're paying out of pocket to make these repairs.

The other scenario we're seeing playing out these days, is that some buyers are bidding the price up over the list price. While that sounds like it would be attractive to the seller, appraisers (unlike a few years ago when prices were escalating rapidly) want to see comparable sales or substantive justification for the higher sales price. If they don't, the house will appraise for less then the sales price. I don't know if this is what occured in your situation, but if it did, the house may not appraise for the higher sales price and hence the deal will either fall apart, or have to be renegotiated. This normally will not be known until 2 - 3 weeks after contract ratification, leaving the seller with much uncertainty, and difficulty in making firm plans going forward until the appraisal contingency is removed.

I hope you find this helpful. If you would like to discuss this further, please feel free to contact me, and we can discuss it further.

Regards,
Andy Krumholz, GRI, CDPE
Keller Williams Realty
ajkrumholz@yahoo.com
(703) 599-4755
... more
0 votes 6 answers Share Flag
Thu Dec 17, 2009
kristal wilson answered:
Every short sale transaction appears to be different but I would consider this a positive sign. The bank would ask for most recent paystubs to verify the amount of your income and that it has not changed. Good luck! ... more
0 votes 3 answers Share Flag
Thu Sep 22, 2011
Monika Kumar answered:
Lenders are little easier now than they were a year ago. But it is still as good as the listing agent or person negotiating.

It does take longer than resale - about 2-4 months average.

Monika
... more
0 votes 7 answers Share Flag
1 2
Search Advice
Search

Followers

250