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Ashburn : Real Estate Advice

  • All149
  • Local Info10
  • Home Buying54
  • Home Selling9
  • Market Conditions7

Activity 131
Sat Nov 14, 2009
AJ Heidmann answered:
Menehune40 - You may qualify for the $6,500 credit if you lived in your primary, owned home 5 of the last last 8 years, but from your description, you would not qualify for the full $8,000 1st time home buyer tax credit. Please contact me directly if you have any additional questions.

AJ Heidmann ABR, CRS, e-PRO
Cell 703-474-1260 Fax 703-518-8314 Toll Free 877-727-3631
AHeidmann@CBMove.com
Coldwell Banker Residential Brokerage, Old Town Alexandria
"Serving Distinctive Clients & Properties in Northern Virginia"
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0 votes 3 answers Share Flag
Fri Jan 15, 2010
Barbara Swavely answered:
Hi,
This is a great investment and it will hold lots value.I am an expert in Ashburn.
Call or email me?
0 votes 4 answers Share Flag
Sun Oct 25, 2009
Tish Thompson answered:
It depends on where you'd like to live. If you're looking in Loudoun County, condos would definitely have to be included in your home search. In the Prince William County area, you are going to run into competing offer situations. For the PW market, your best bet would be to search for townhomes that are priced in the $130ish range so that you'll have room to compete. If you don't mind living in Fauquier County, there are some deals there. You can purchase a single family in the Catlett/Bealeton areas with a small amount of acreage in the $150ish range. ... more
0 votes 14 answers Share Flag
Sun Sep 13, 2009
Ramesh Chandra answered:
Athar,
My office in Tysons corner.
The best thing is for u to spend 45 minutes to go over the buying process and market conditions.
Please call me at 703 635 8209, if u would like to setup an appointment.
rgds,
Ramesh Chandra
Saab Realtors
703 635 8209
mepcigroup@gmail.com
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0 votes 7 answers Share Flag
Tue Sep 8, 2009
Monika Kumar answered:
Hi Stephanie,

Usually builders use the contract to protect themselves. They have a clause in the contract saying that they have 2 yrs (mostly) to complete the house.

Please review the contract with your RE agent if you used one or an attorney to see if there are any other contingencies left!

Monika
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Sat Sep 5, 2009
Janice Copeland answered:
Hi Themrs,

First let me say I am sorry about your current situation. Unfortunately it is a situation I hear of mulitple times per day in this market.

Ok, is your bank lying to you? I don't know. I do know that you have a few options:

1) short sale- where the fees for a realtor, etc. are taken from the sales price and the balance is given to the bank and your debt is forgiven (difference betwen what you get for your house vs what is owed). Short sales allow us realtors to price your house to current market value at which point it will sell fairly quickly. Your credit rating will be adversely affected with a short sale. With a short sale, you can remain in the home, continue to maintain it until it closes.

2) deed in lieu of foreclosure- you could call your bank and tell them that you are turning over your deed as opposed to going to foreclosure. This will hurt your credit too, but better than a foreclosure.

3) foreclosure- if you are too far behind in your payments, the bank will notify you that you are being foreclosed on and you will need to vacate the property. I suggest you communicate with your bank so that this does not happen.

I have sold short sales and foreclosures for years and would be happy to speak with you on the phone if you'd like. Just give me a call to further discuss. You have options. But the time to do something with those options, is now.

I hope I have helped you and I look forward to helping you.
Warmly,
Janice Copeland, REALTOR
Skyline Team Real Estate
540-931-5050
janice@janicecopeland.com
www.janicecopeland.com
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0 votes 7 answers Share Flag
Thu Oct 22, 2009
Luke Allison answered:
An FHA loan is perfect for the scenario you described. In Loudoun county, the FHA limit is now $729,000 so you are perfectly within your range for the mortgage you need. The FHA loan will only require 3.5% down - even at that loan amount and you would probably be surprised to see a monthly payment equal to a conventional loan at 10% down. The rates are awesome, the credit does not have to be a perfect and the main factor that I see is that an FHA loan will not require the hard 45% debt ratio that a conventional loan would. Currently FHA rates are approx 5.00-5.25% with no origination fees.

If you have any questions or need a loan approval, please feel free to contact me.
Luke Allison
Bank of America Home Loans
828-777-8828
luke.allison@bankofamerica.com
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Fri Oct 2, 2009
Danilo Bogdanovic answered:
The only person that can answer the question of what interest rate you would get is a loan officer. And that's only after they've taken a look at your financial situation including liabilities, assets and credit score (among other things).

The average interest rate in the DC metro area tends to be at or just below the national average. But, once again, the rate you can get depends on your specific situation.

Check with your bank or a loan officer you know. If you need the name of a great loan officer that offers great rates and low closing costs, let me know and I'll give you their info.

Danilo
http://LoudounScene.com
http://LoudounForeclosures.com
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Wed Aug 26, 2009
Peggy James answered:
Hi,

Chances are you wil not be able to refinance, unless of course you put a signifigant amount down when you purchased originially. So be prepared for your loan to convert to the fixed rate payment.
If that scares you to death and you are facing some financial challenges you can contact your lender and ask for some assistance.

Just keep in mind, that if you are financial able to make the payments, you just aren't happy with the $ amount then, more than likley you will need to ride this storm out.

Have you had a Realtor check that home value? Make sure you are working with the correct numbers before you make your final decission.
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0 votes 4 answers Share Flag
Mon Aug 17, 2009
Fred Romano answered:
You can try listing it on Realtor dot com to see if you can sell it. No commission is required to list, just a small fee to set it up.
0 votes 13 answers Share Flag
Wed May 27, 2009
Peggy James answered:
Hi Bob,

Unfortunatley that market has come and gone in the Ashburn area. back last year there were two homes that met your seach criteria, both sold for under $150,000. However the market has much improved and is not dipping that low. The lowest priced home available in the Ashburn area right now is $249,000.

Cash...is KING in this market and when you find a home chances are very good you can win the offer. Be prepared for multiple bid situations even on handyman fixer uppers.

I did some checking for you, below see a link to the only home currently availalbe in four counties that match your search criteria. If you are flexible in the location, you may be able to find a good fixer upper.

Peggy James
Erick and Company of Exit 1st Choice Realty
703-851-3085
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0 votes 3 answers Share Flag
Sun May 17, 2009
Vicky Chrisner answered:
Call King and Nordlinger - they have several attorneys and they will connect you with the right one. There are some "heavy hitters" in Loudoun like Tom Plafchan and Joe Ritenour, but they are probably more than you need... and their is a significant price difference, too. K & N contact info can be found on my web site....just lick on attorneys. Joe Cooleen (one of the partners) and I started doing business almost 20 years ago. Man, i am old. ... more
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Mon Apr 20, 2009
Vicky Chrisner answered:
As a REALTOR I am not allowed to answer questions on safety or schools. However, I can give you objective resources so you can make those judgement yourself.

I believe the schools for those neighborhoods are: Elementary: BELLE VIEW Middle: SANDBURG High: WEST POTOMAC. (Please double check before you purchase based on this). You can go to the Fairfax County web site and look up school rates, and/or check greatschools . com (sorry - can't give actual links here for some reason).

Also, for crime stats, go to the Fairfax county website, click on police and then crime in my community - you can see the calls they get for the various parts of the county.

I hope this is helpful. If I can offer any more assistance, feel free to email me directly at vchrisner@kw.com
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Mon Jul 27, 2009
Sonal Goda answered:
Hi Kevin - I work with a lot of investors and would be happy to do your cash flow analysis for you. I did a couple of seminars for investors on these topics last year. I would need some more information regarding the amount of your downpayment, etc. I don't know if you want to post all this information or if you want to talk privately - this would be no obligation if you choose to speak with me.

Ashburn is an amazing area for families and schools. There are many great areas throughout Northern VA right now to get a deal and positive cash flow - I would be happy to point other areas out to you.

One thing to keep in mind about investment properties right now is that a lot of investors have done the same thing so it is taking longer to rent property. Yours should be in stellar shape if you want to rent it quickly. In the past, we could rely on being able to rent in 30 days, but now you have to take a larger number of days and potential vacancy into account when you do your cash flow analysis. Maybe 60 days would be good for the calculations.
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0 votes 5 answers Share Flag
Thu Mar 26, 2009
Justlooking30 answered:
You'd take a loss, but since it's mostly paid off anyway at least you wouldn't end up in massive amount of debt, which is where most underwater sellers seem to end up. If you use a HELOC to finance the downpayment, you're putting yourself at a large risk of debt if the townhouse won't rent to what you need it to, if something happens to the townhouse while you're renting it, or it not selling at the price you need it to down the road.

If you and your wife feel secure about your finance position in Delaware and can wait but still don't want to sell your old home at a loss, you might want to consider renting/subletting in Delaware, and making offers contingent on the old home selling at or above the price you need. Good luck!
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Mon Apr 9, 2012
Jane Ramsey answered:
A short sale is when an owner sells as quickly as possible, for an agreed upon price with the bank, before it goes into foreclosure. A bank owned property is one that is already foreclosed. ... more
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Thu Feb 12, 2009
David Chamberlain answered:
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Sat Dec 27, 2008
Bob Kritz answered:
There are many short sales in the market today. A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This is to the buyer or investors benefit. Call your local realtor who have information on loss mitigators in your area. hoose a realtor with this experience. It can be profitable to you. ... more
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Tue Jan 7, 2014
Bill Eckler answered:
T.s.

There are no additional fees imposed on foreign nationals while engaging in the purchase of real property. A real estate professional will be able to provide necessary guidance and lead you through the process, step by step.

Best wishes on your new venture,

The "Eckler Team"
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Sun Sep 7, 2008
Danilo Bogdanovic answered:
If you're buying long-term (5 or more years), then I would suggest buying. If you're thinking about selling/moving in less than 5 years, then you want to continue renting. Owning your own home has many advantages to renting, but you want to consider potential market value when it comes time to sell.

As far as 1 or 2 bedrooms condos, it depends on what suits you best. Two bedrooms tend to have more of a buyer pool and you'll sell them a bit easier down the road. But you'll also spend more money upfront and have a higer condo fee than a 1 bedroom. And if you don't need the space, then why spend the money.

If you'd like to chat more, feel free to contact me.
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