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Herndon : Real Estate Advice

  • All86
  • Local Info8
  • Home Buying26
  • Home Selling3
  • Market Conditions6

Activity 68
Thu Aug 2, 2012
Don Tepper answered:
Here are a few:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?ID=42954310747

Also, check Craigslist and other sources. Many individual owners (most of whom don't list rentals on MRIS) will rent to people with pets.

Hope that helps.
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Tue May 1, 2012
Jeanne Little answered:
Hello Neesha,

You should be working with an Agent. An Agent can pull all the homes that have sold in that subdivision to give you a comparison or CMA (Comparative Market Analysis). This will give you the information you need to make an educated decision. Just going to the builder (if it is new) will not give you a 'good deal'. They work only for the builder. Also an owner/seller may not give you all the information you need. Call a professional.

Feel free to contact me! I live in Herndon and would be happy to assist!

Jeanne Little
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Tue May 31, 2011
Vicky Chrisner answered:
Neesha - if you're looking for a buyers agent to represent you, I'd be happy to. I can provide you with comps and some other information. I have sold a few. I am wondering "with all the upgrades"... not sure exactly what that means. Which collection? One of those by the water towers (I think that's the city collections by Van Metre and Beazer) or perhaps that new group that has just opened behind the town center - although I think they are at a higher price point, as are the Parkside towns from Van Metre. In any case, I have sold a few in that neighborhood and looked at them all. I can run comps and provide you with insights. ... more
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Thu May 26, 2011
Martin H. Thomas answered:
Hello Neesha,

The benefits and drawbacks of condo living need to be weighed against your own criteria. Is security more important to you than distance from your neighbors? Are you comfortable with community living? Don't want yard work? Here is a list of the basic pros and cons of condo living to help you make your decision.

Pros:

Low maintenance: Someone else takes care of the shoveling the snow, cutting the grass, and roof maintenance for you.

Affordability: While condominiums have a wide price range, the lower range is often within the budget of first-time buyers and individuals who may find single-family houses unaffordable.

Amenities: Most condominium developments offer a range of amenities in the common areas. This means that you may have access to a swimming pool, gym or tennis courts.

Condominium association: Every unit owner is a member of the condo association, which also has an elected board. The association serves to enforce bylaws, handles maintenance and repair issues, and deals with disputes with developers or between unit owners. So it's important that owners get involved with the association.


Cons:

Fees: Monthly condo fees go toward maintenance and repair of the common areas. There are occasionally additional assessment fees to handle larger repair jobs. Your fees may also be paying for amenities, such as a swimming pool, that you may not use.

Resale: Condominiums are more sensitive to trends in the real estate market than single-family homes. If the market takes a downturn, condos are usually the first to suffer and the last to recover. In addition, new lending rules have made it pretty hard for some condo owners to sell there units if 15% or more of the total number of condo owners are 30 days or more delinquent on their condo dues, a new buyer WILL NOT be able to get a FHA or any government backed loan to purchase your unit. This is VERY important!

Rules: Condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.

Condominium association: Because the condo association is made up of homeowners rather than property-management professionals, the association may be weak and inefficient. If the association is not active on collecting outstanding dues, this could cause the delinquency rate to exceed 15%, and then no one will be able to sell to a buyer with a FHA loan, and in the condo market, that's about 20 to 50% of the buyers. ALSO...you must find out if the association is "financially" ok. Some associations have gone bankrupt.

Overall, buying a condo is an affordable way to transition from being a renter to home owner. The average sales price for a condo in the Ashburn area is $177,000.

Below is a article that will shed a little more light, and give you a checklist of what to watch for.

I hope this was helpful to you, and if I can answer any more questions, please don't hesitate to ask.

Sincerely,
Martin H. Thomas
Avalar Smart Choice Realty
301-442-5721
www.buyorsell2day.com
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Wed Apr 6, 2011
Dallas Texas answered:
Texas is great for families is a strong economy vs. other areas in USA. New starter homes within your budget

Contact me if you have continued interest in Dallas Fort Worth area. We are continually listed in national news for top areas to live

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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Fri Feb 4, 2011
Vicki Holmes answered:
A promissary note may mean that they seller is having to sign a note for some of the unpaid balance. If the seller agrees to this, you maybe close to a formal approval from the lender. The lenders work at their own pace since they have such a high load of short sales that they are reviewing. From what I have seen in the past, once the lender give a verbal approval, as long as the seller has also approved it, the written approval should be coming soon. Once you have written approval, the lender usually will give the buyer about 45 days to close. Good luck! ... more
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Mon Jan 31, 2011
Neesha asked:
0 votes 0 Answers Share Flag
Tue Feb 8, 2011
Sherry Spinelli answered:
Hi Samy,

You can have a Realtor handle the rental of your townhouse. Since you are going to be living out of the area it may be best and easier for you to have a Property Manager take care of the day to day needs of the house and tenants. They will receive the monthly rental payments as well as handle repairs and tenant concerns. There is a fee associated with this service but with you away this might be the most practical approach. If you would like additional information and help getting started feel free to give me a call. I'd be happy to assist you. Thank you.

All the best, Sherry
Sherry Spinelli, 703.407.5778
REALTOR, ABR, SFR
Long & Foster Real Estate
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0 votes 7 answers Share Flag
Tue Jan 4, 2011
Dallas Texas answered:
Against professional code of ethics for any Realtor to predict the future.

The same as if an attorney who represents you CAN'T predict the outcome of any legal action

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 8 answers Share Flag
Thu Dec 23, 2010
Vicky Chrisner answered:
Who's appraisal? I have NEVER seen the bank counter for an amount above the appraised value; who told you this? Something is fishy. What does your agent say?
0 votes 13 answers Share Flag
Tue Jun 20, 2017
Cindy Jones answered:
I don't think this is a question that is easily answered. Each builder has good reputation in our area. Any time I am working with a new home buyer I make sure that they have an independent home inspector who works with them for a pre-drywall and final inspection. An experienced inspector will be able to point out any issues with the construction process and finishes which you should have repaired or be aware of. ... more
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Wed Dec 8, 2010
Chirayu Shah answered:
It really depends how long are you planning to keep the property. In the near future, Metro Rail - Silver line construction will play an important role in home values in both Fairfax and Loudoun county. In Fairfax, areas like Herndon, Reston will highly appreciate once the metro stations are built. (In about 3 years). Loudoun county stations (Ex. Ashburn) are expected to be completed around 2018. (It may change). So, consider this factor for your investment. But, historically, Fairfax county has been a good location for investment.

Feel free to contact me if you have any perticular questions.

Thanks.
Chirayu Shah
516-884-8713
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Sun Nov 21, 2010
Monika Kumar answered:
Lindsey,

Good that you have motivation to take advantage of low interest rates and trying to figure out How.. If you are not ready to hire a Realtor to finger hold you to get you started and like to do it on your on then call your bank and find a loan officer that you can trust.

If you want to take advantage of free service that a Realtor offers Call or email today so we can do the leg work for you.

Hope that helps.
Monika
703 626 3327
info@realtygeeks.com
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Mon Jun 3, 2013
Betty Best answered:
Short sales are tough, and I'm happy to hear this is a home you really want, but unfortunately all you and your agent can do is wait for one of the parties to drop out.

They have a ratified contract - both buyer and seller have signed the contract and agreed to exclusively work to make that deal go through. You can hope that the bank will come back asking for a higher sale price and that the first contract will be withdrawn. You can hope the buyer loses interest and uses one of their options to withdraw their offer. That happens often, and that's why the seller's agent took your back-up contract.

A very high percentage of short sale contracts fall through because of changes in what the bank will accept or because the buyer gets cold feet or finds another home they would prefer. So there's still hope for you, but it requires much patience. Your agent should keep in touch with the listing agent to stay aware of how things are going with the process, and continue to show you other properties.

Good luck, and hope you get your dream home, whether it's this one or another one.

- Betty
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Wed Aug 11, 2010
Jim McCowan answered:
It's generally more difficult to find a short-term rental through an individual owner. Your best bet will probably be going to actual apartment complexes.
0 votes 4 answers Share Flag
Mon Aug 2, 2010
Kathy Stark answered:
Hello Colins

Sorry you are out of the townhouse price range. There are 3 condos though. You did not say when you want to move or if you have any pets.
Let me know if any of these interest you.

Kathy Stark
Weichert, Realtors
703-201-9656
kathystark@weichert.com
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Wed Jun 30, 2010
Reiner Leal answered:
It sounds like the bank is trying to keep their NET intact and roll the cost of the repairs into the price. This is not a totally unreasonable request on their part. I am in California so I am not familiar with the Purchase Agreement used in your state, however, I would imagine that if you don't sign the addendum, the bank has the choice of denying your repairs.

Are you using FHA or VA financing? Usually there is a FHA/VA Amendatory Clause form which is signed by both parties which states that if the home does not appraise, then you can back out.

To me it sounds like your choices are going to be to accept the addendum and move forward or reject it, see if the bank budges, and take the chance that if you reject it, they will reject your repairs, and you will either have to cancel or figure out some other way to address the repairs. If you are using FHA financing, there is FHA 203k financing which allows you to finance the cost of any repairs/rehabilitation.
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Wed Apr 14, 2010
Jim McCowan answered:
It's just saying that you should have word back from the bank on what they want to do. You can void a contract at any point until it's ratified and all parties have signed and initialed. ... more
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Thu Sep 22, 2011
Gerard Dunn answered:
Generally the banks are not held to timelines on a short sale. The banks are dealing with so many short properties that they do not have the skilled staff to handle these transactions quickly.

With bank owned properties - the dealing is a bit easier - but all expectations on "normal" timelines is out the window.

In the DC area - 90 days is the average time just to get an answer on an offer. After acceptance - things generally move more quickly.

Be patient - ask your Realtor for advice - and good luck!

Gerry Dunn
Associate Broker
Weichert Realtors
Potomac, Maryland
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0 votes 3 answers Share Flag
Fri Jan 15, 2010
Barbara Swavely answered:
Hi,
This one is Sold but there are three others available.Email me and I will send to you.
Barbara.swavely@penfedrealty.com
0 votes 6 answers Share Flag
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