Potomac Yard | Del Ray | Old Town Alexandria Real Estate News

Oct. 1, 2011

Things To Do Old Town Alexandria - Events Calendar For October 2011

Things To Do Old Town Alexandria - Events Calendar For October 2011

Here's your October 2011 Events Calendar for the Alexandria VA and Washington DC area.  Mother Nature played a role in the rescheduling of the MLK Memorial Dedication, so that will be held on Sunday October 16.  Smooth Jazz fans can hang out with the other cool cats at The Birchmere to see musician Keiko Matsui on October 17.  Do you love to eat?  Don't miss the Taste of DC on the first Saturday.  This fall in Alexandria VA there's lots to hear, see, taste, and smell!  I hope to see you around town.

Print-friendly version of the October 2011 Events Calendar

Posted in Fun, Things To Do
Sept. 3, 2011

Alexandria VA Bank Owned Homes and Foreclosures

Alexandria VA Bank Owned Homes and Foreclosures

Alexandria VA real estate consists of traditional equity sales, and distressed sales such as bank owned (or REO) homes, pre-foreclosure sales, and short sales.  As an Alexandria VA short sale listing agent, I am very familiar with how foreclosures and short sales work.  Distressed sales in Alexandria VA peaked in March 2011 with the 39 total sales (21 short sales and 18 bank owned properties).  As of June 2011, the number of distressed sales in Alexandria VA (City) was down to 23 (14 short sales and 9 bank owned properties). To see specifics on Alexandria VA foreclosures and short sales by month, scroll or mouse over the points in the interactive chart below.

If you want to know how to buy a foreclosure in Alexandria VA, then you're in the right place.  As a buyer agent, I help by facilitating your mortgage approval with a local lender, helping you get specific and listening to your search criteria, showing you available Alexandria VA foreclosure homes for sale, and negotiating your purchase contract.  Because many buyers are looking for a home at a steep discount, you'll likely be competiting against other buyer and cash investors.

Just like Alexandria VA foreclosures, short sales are also a target for homebuyers looking for a bargain.   With short sales, the homeowner is selling the property at a loss, so the bank will want to sell the home as close to market value as possible.  You'll have the benefit of my experience as a short sale listing agent on your side.  I'll provide you with insight on what banks expect from buyers when it comes to the purchase offer.

To receive listings of Alexandria VA foreclosures and short sales directly to your inbox, please click here.

 

 

Sept. 2, 2011

First-Time Military Buyers Can Also Get $5000 For Alexandria VA Homes

First-Time Military Buyers Can Also Get $5000 For Alexandria VA Homes

Military FamilyMilitary homebuyers have the privilege of purchasing a home with a VA loan in Alexandria VA.  This provides the opportunity to purchase a home with no down payment.  VA home buyers can request that sellers pay their closing costs.  However, in cases where the seller is unable or unwilling to pay for the buyer's closing costs, this can prevent closing from taking place putting the brakes on your Alexandria VA home purchase.

There is a $5,000 grant that is making it easier for first-time military homebuyers to purchase a home. As reported from Realtor.org, active duty personnel, veterans, retured members of the military, and employees of the U.S. Department of Homeland Security and the Department of Defence are eligible to apply for up to $5000 in down payment and closing costs in the purchase of a first home.  The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and says the grants can be applied to a mortgage from any financial institution and applicants do not have to be members of Pentagon Federal Credit Union to apply.

According to the Dream Makers program, you are a first-time home buyer if you have not owned a home in the last three years, or if you have lost your home through divorce or disaster.

See Also: Frequently Asked Questions About A VA Home Loan

See Also: $7500 Grant Program For First-Time Buyers

See Also: Video: Biggest Buyer Blunder – The Importance of Loan Approval

 

Call Tamara Today

 

Posted in Military, News, VA Loans
Sept. 2, 2011

Should I Sell My Del Ray Home During The Fall - A Seasonal Comparison

Should I Sell My Del Ray Home During The Fall - A Seasonal Comparison


Have you been asking yourself, "Should I sell my Del Ray home during the fall?" The flowers may not be blossoming, but the when the leaves change, so does the Del Ray real estate market. Take a look at the market statistics for the previous two years for real estate in the zip code of 22301. Use your mouse to scroll over the different points in the interactive charts below.

You'll notice that the historical 'spring spike' is blatantly obvious for both years. For example, after stagnating at 11 home sales in January and February 2011, home sales increased in March to 19 sales, then dipped a bit down to 16 in April, and peaking in May with 23 home sales. The spring market of 2010 had a sharper spike in spring sales increase from 4 in March, to 12 in April, to 26 in May. But when you compare the spring market to the fall market, you'll notice a smaller upward trend in the fall.


In the fall of 2009, September and October had the same number of homes sold at 14, only increasing in November to 17 before declining in the winter. In the fall of 2010, homes sales steadily increased from 5 in September, to 8 in October, then 16 in November, and capping at 19 in December before slowing down. Now, lets compare with the zip code of 22305, which also includes Del Ray, Beverley Hills, and Warwick Village.

In the fall of 2010, home sales in 22305 were at 6 in September, then increased to 9 in October, and inched up to 13 in November before declining. In the fall of 2009, homes sales in 22305 went from 9 in September, to 11 in October, to 19 in December. Spring sales activity in 22305 was very vibrant.


So, should you sell your Del Ray home this fall? There's no time like the present (except spring time of course). But Del Ray homeowners should also feel confident about selling during the fall knowing that fall/winter buyers are more motivated by time and usually have some type of deadline that is pushing their move, such as a relocation and job start date, and the desire to be closed before the winter weather sets in.


Posted in Market Reports
Aug. 26, 2011

Preparing for Irene in Alexandria VA - Homeowner Tip for Insurance

Preparing for Irene in Alexandria VA - Homeowner Tip for Insurance

 

 

See Also

Posted in Homeowners, News, Videos
Aug. 26, 2011

Acacia Federal Short Sales - Another Short Sale Approval Letter Received

Acacia Federal Short Sales - Another Short Sale Approval Letter Received

Short Sale Approval Letter for Acacia Federal Bank
Arlington VA short sale listing agent Tamara Inzunza of McEnearney Associates Inc. has successfully obtained another short sale approval for a distressed homeowner who wanted to avoid foreclosure.  Here are the details:

  • This was an Arlington VA preforeclosure, or short sale
  • Hardship: reduction in income
  • Time for approval: approximately three months
  • Missed payment: yes

The best possible outcome for this homeowner is that the bank did not ask for a cash contribution at closing, nor did they ask the borrower to sign a promissory note.  As an Arlington VA short sale listing agent, the approval letter dispells one of the myths regarding short sales.  Many homeowners are afraid to ask for help and do a short sale because they are fearful that they will have high costs to be approved.  In this case, the bank paid the closing costs to the buyer, the full real estate commission, did not counter the contract sales price, and is accepting the payoff in full.

If you are an Arlington VA homeowner and you are facing a financial hardship, please contact me to discuss your options to avoid foreclosure.  As a short sale specialist, I can help you determine what's your best course of action.

Arlington VA Short Sale Specialist | 703-623-8759 

As a Certified Distressed Property Expert and Certified Default Resolution Specialist, I help homeowners who are in distress understand their options.  These options may include loan modification, forebearance, short sale, Homeowner Assistance Program (HAP) for Northern Virginia military families, or other alternatives that may be approved by your lender. Before you max out your credit cards or deplete your savings trying to keep your mortgage current, feel comfortable giving me a call at 703-623-8759. 

                           

 

Posted in Short Sales
Aug. 10, 2011

Northern Virginia Market Watch Video for July 2011

Northern Virginia Market Watch Video for July 2011

So what's the real estate market like in Northern Virginia for July 2011?  Here's the latest video that details the statistics for the region.  Based on sales data, inventory levels plunged, median sales price increased.  Are we experiencing a sellers market here in Northern Virginia?  Watch the video and see for yourself.

 

Posted in Market Reports, Videos
July 1, 2011

4th of July Events In Alexandria VA and Washington DC 2011

4th of July Events In Alexandria VA and Washington DC 2011

 

There will be colors bursting all over Washington DC this weekend as we celebrate Independence Day!  Here is a list of 4th of July activities in and around the Alexandria area for 2011.

WASHINGTON DC
4th of July Fireworks on the National Mall
Fireworks Time: At dark, usually around 9:15 p.m.
Rain Date: July 5th
Launch Location: The fireworks are launched from the Lincoln Memorial Reflecting Pool and light up the sky over the Washington Monument.

VIRGINIA
Alexandria Oronoco Bay Park, 100 Madison St., Alexandria, Virginia. Celebrate Alexandria's Birthday & the USA's on Saturday, July 9, 2011, 4-10 p.m. Enjoy a concert by the Alexandria Symphony Orchestra at 8:30 p.m. and fireworks at 9:30 p.m.

Falls Church
George Mason High School, 7124 Leesburg Pike, Falls Church, Virginia. Live music will start at 7 p.m. followed by fireworks at 9:30 p.m.

Fairfax July 4, (rain date - fireworks only July 5) Fairfax City, Independence Day Parade through the downtown area beginning at 10 a.m. Musical entertainment begins at 7 p.m. at Fairfax High School with a spectacular fireworks display at dark. (703) 385-7858.

McLean
Langley High School, 6520 Georgetown Pike McLean, Virginia. (703) 790-0123. Music performances, food, games, and activities for kids. Grounds open at 6 p.m. Fireworks at dark. 

Leesburg
 
Ida Lee Park, Rt. 15 (King Street) and Ida Lee Drive, Leesburg, Virginia. (703) 777-1368. Gates open at 6 p.m. Fireworks around 9:30 p.m.

King's Dominion
16000 Theme Park Way, Doswell, Virginia. Independence Day celebrations and fireworks.

MARYLAND
 
National Harbor July 3, 2011. Gaylord National Resort, National Harbor, Maryland. Fireworks and summer festival, beginning at 6:30 p.m., tickets are required. 

"Boom, boom, boom.  Even brighter than the moon, moon, moon!"  - Katy Perry, Firework

Posted in News, Things To Do
June 20, 2011

Market Statistics - June Contact Activity

Market Statistics - June Sale Contract Activity

 Here is a snapshot of the recent sales contract activity in our current market.  This is a comparison of activity for the week of June 6-12 2009 vs 2011.

Here is the comparison for the same week in June against 2010.

Contract Activity June 2010 vs 2011

Our Chief Information Officer, David Howell provides the following commentary for these statistics,

"Three of the four jurisdictions saw an increase in contract activity last week compared to the same week last year - Montgomery County was the exception, down just 2.1%. The overall increase in contracts was right at 5%.

However, compared to the same week of 2009, overall contract activity was down 6% last week. Dc's activity was unchanged, but the other three were down.

If there's a "takeaway" from these numbers and the others we have tracked over the last several weeks, it's that signs of a recovery are modest at best. We are still MUCH better off than almost any place in the country, but there is no general upward pressure on prices. Some small pockets may be doing quite well, but overall this is not a time for sellers to be pushing the envelope on pricing. This is especially important to know in light of recent housing reports - including Case Shiller - that indicate that prices are going up."

Lastly, here is a link to a recent blog post from MRIS (our software provider for all local Multiple Listing Service data).  Even there you will see that many times, when you hear 'Washington DC' in the titles of reports, all of the data may or may not include the information for all of the mini-jurisdictions within the area.

Posted in Market Reports
April 28, 2011

Alexandria VA $7500 First-Time Buyer Grant Program Available After Tax Credit Expires

Alexandria VA $7500 First-Time Buyer Grant Program
Available After Tax Credit Expires

There's a new grant program that allows Alexandria VA homebuyers to earn up to $7500 toward down payment and closing costs for the purchase of a new home.  Cindy Small of Union Mortgage Group shares some information about the $7500 First-Time Buyer Grant Program.

We've prepared a financing scenario to show you how the $7500 grant money can be used on the purchase of a home with a list price of $272,500.  My listing at 6933 Westhampton Drive in Alexandria can be purchased for a monthly payment of less than $2000.  Click here for the mortgage payment breakdown and financing details.

This program can be used for all Alexandria VA home types including condos, townhomes, and single-family detached homes for sale as long as you qualify.

For more information call me at 703-623-8759 and let's see if you can benefit from this program.