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

July 16, 2010

Wells Fargo Short Sale Approval | How Long Will It Take

Wells Fargo Short Sale Approval | How Long Will It Take

Wells Fargo has recently merged with Wachovia, and like Wachovia's Short Sale Fast Track Program where approvals are generally granted within 30 days, Wells Fargo is doing its part to keep property values stable by reducing the time it takes for a short sale to be approved.  Once your application has been received, along with your purchase offer, your Wells Fargo short sale can be approved within 25 business days.

 

What are the benefits for a quick approval?

  1. For borrowers facing a financial hardship, a quick approval means a more positive impact on your credit report.  If you are currently behind on your mortgage, a quick approval means no additional late payments.  If you are current on your mortgage and are qualified for a short sale, then you will likely have no late mortgage payments on your credit report.
  2. Short sales help stabilize property values.  Unlike bank owned foreclosures, there is more incentive for the bank to minimize their losses by selling the property at market value, instead of below, preventing the neighborhood values from plummeting.
  3. Your experienced Alexandria VA short sale listing agent is able to market the home, advertising to other buyer agents and the public that a quick approval is likely.  This helps to encourage buyers who would normally avoid short sales reconsider them.

If you are currently experiencing difficulty paying your Wells Fargo Home Mortgage, please call Wells Fargo directly to determine your home retention options.  Contact the Loss Mitigation Team directly at 1-866-903-1053.

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 Northen 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. 

                           

Do You Qualify For A Short Sale?

Posted in Schools, Short Sales
July 15, 2010

Manchester Lakes 2BR 2BA Condo For Sale In Surrey Condos

Manchester Lakes 2BR 2BA Condo For Sale In Surrey Condos
Short Sale Listed by Manchester Lakes Specialist

6923 Victoria Drive, Unit D

Alexandria VA listing agent and Short Sale Specialist Tamara Inzunza presents another opportunity in Manchester Lakes.  If you're looking for an affordable 2br/2ba condo in Alexandria VA where you can enjoy beautiful community amenities in a mature setting, then take a look at 6923 Victoria Drive Unit D.  This ground level home features a wood-burning fireplace, hardwood floors, washer and dryer, a master bedroom with a walk-in closet, and full master bath.

Located just off Beulah Road in Alexandria VA in Manchester Lakes, this home is ideal for commuters as it is close to I-495 Beltway, I-95 HOV lanes, and Fairfax County Parkway.  It's also close to the Franconia-Springfield metro, which is the end of the blue line.

Many Alexandria VA first-time buyers have 2Br/2Ba condos on their wish list, and with a price tag of less than $220,000, this home makes for a unique buying opportunity.  Investors looking for income property in Alexandria VA should consider these condos, as this floor plan, low condo fee, and convenient location can make for a good rental property.

This property is a short sale and requires lender approval.

Subdivision: Manchester Lakes (Alexandria VA 22310)

List Price: $219,900

Bank: Bank of America Short Sale 

Bank: Citi Mortgage Short Sale

Listing Agent: Tamara Inzunza, CDPE, CDRS, SFR (Listing agent specializes in short sales) 

Alexandria VA Short Sale Specialist | 703-623-8759 

See Also: Manchester Lakes Video Tour

See Also: Manchester Lakes Amenities Photo Tour

See Also: Manchester Lakes Real Estate and Market Update for June 2010

If you are currently having difficulty paying your mortgage, you may qualify to sell your home as a short sale.  Even if you are behind on payments or have received a notice of default or notice of trustee’s sale in the mail, we may be able to stop the foreclosure process. We’ve done it before! 

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 Northen 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. 

                           

Do You Qualify For A Short Sale?

July 15, 2010

Manchester Lakes Pool and Community Amenities Photo Tour

Manchester Lakes in Alexandria VA is one of the few communities with affordable prices, convenient location, and enjoyable amenities where you can live well and still be close to metro and Washington DC.

Posted in Buyers
July 14, 2010

Alexandria VA Short Sales | Chase Short Sale Under Contract In Pembrook Village

Alexandria VA Short Sales |
Chase Short Sale Under Contract In Pembrook Village

Our Alexandria VA short sale listing at 4420 Pembrook Village Drive is now Under Contract.

If your mortgage is with Chase Mortgage, and you're interested in finding out if you qualify for a short sale, please contact us.  Chase Mortgage has made it easy for borrowers to start the request for a short sale. 

If you qualify and would like to sell your home, the next step would be to complete the preliminary Chase Short Sale Packet, and list your home with an experienced and qualified Alexandria VA short sale agent.

Alexandria 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 Northen 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. 

                           

July 9, 2010

Rosemont Condos For Sale In Alexandria VA | Open House Sunday July 11

Rosemont Condos For Sale In Alexandria VA |
Open House Sunday July 11

$2500 Buyer Incentive

300 Commonwealth Avenue Unit 2

Bright, open, and clean two bedroom/one bath condo for sale in Rosemont section of Alexandria VA, just a few short blocks away from King Street metro on the blue and yellow lines. Be sure to stop by the Open House this Sunday from 1-4 PM.  Features include:

  • Elevated first floor unit
  • Secure building entry
  • Hardwood floors throughout
  • Gas cooking in kitchen
  • Washer and Dryer in unit
  • Rear screeded porch
  • One off-street parking space conveys

Owner offering $2500 incentive which can be used for:

  • Prepaid condo fees
  • Upgrade the appliances
  • Upgrade the countertops

Below 5% interest rates make this beautiful home oooh so affordable!

        Search Homes For Sale  List With Me

Posted in Buyers, Condos
July 8, 2010

Wachovia Short Sale Approval Letter Explains Common Questions

Wachovia Short Sale Approval Letter And
Some Questions Explained

While working with many homeowners who are facing a financial hardship, I've found that these questions often come up:

  1. How long will it take for the bank to approve the sale?That depends on the lender, and how many loans there are on your home.  If you currently have more than one loan, then that will add time to the short sale approval process.  All lenders will have to agree on how much they are willing to receive. Wachovia has one of the fastest turnaround times, and within the real estate industry, that good news in travelling fast. Short approval times are good because it reduces the chance that the buyer will walk away from the transaction.
  2. Will I have to pay back the short amount?Once your short sale is approved, your lender(s) will issue a Short Sale Approval Letter.  This is similar to the Mortgage Approval Letter that you received when you were buying your home.  The letter will say that you are approved, but it will be subject to certain conditions.  These conditions will be outlined, and your letter should stipulate if you will be required to pay any money.  This could mean bringing money to the table at closing, or signing a promissory note for some or all of the difference.
  3. Will the bank release the lien on my house after a short sale?The short sale approval letter outlines the terms of the approval, and if all of these terms are met, the bank(s) should release the lien on your house.
  4. Do I have to make any repairs?All short sales are sold in as-is condition.  This is usually a stipulation of the short sale approval. Anexperienced short sale listing agentwill make this known by indicating it in the Multiple Listing Service (MLS) so that buyer agents are aware, and it should also be one of the terms in your sales contract.
  5. What if I can't afford to keep the utilities on?You'll increase your chances of getting your home sold quicker if you can maintain the home to your best ability.  This includes keeping the utilities on through closing.  In some instances, it may not be financially feasible to keep the utilities on, and in the event that happens, please let yourshort sale listing agentknow ahead of time, as it may be possible to address that in your sales contract.
  6. How long will it take before I can close on the short sale?The short sale approval letter will specify the date by which closing must take place, typically it is within 30 days of the date the letter is issued.

If you are wondering what your short sale approval letter may look like, I've embedded an example of one below that I recently received for my sellers.  This will give you an idea of what you can expect when you sell yourAlexandria Virginia Short Sale.

 

Wachovia Short Sale Approval LetterAlexandria VA Short Sale Specialist | 703-623-8759 As aCertified Distressed Property ExpertandCertified 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 Northen 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 Sellers, Short Sales
July 7, 2010

Manchester Lakes In Alexandria VA 22310 Real Estate Update For June 2010

Manchester Lakes In Alexandria VA 22310 Real Estate Update For June 2010
Townhome Sellers Should Enter The Market Now

The condos of Manchester Lakes were holding steady in the month of June.  No more units under $100,000, but clearly, the units in the $200k price range had the greatest amount of volume in terms of active listings last month.  They are being absorbed.  With six units going under contract, there's still hope for the homeowners in this price range.  However, the lone Manchester Lakes condo unit in the $300,000's will have to appeal to buyers, who have more affordable units and fee simple townhomes to choose from.

The Manchester Lakes townhome activity was quiet last month.  Now is the perfect time for townhome owners in Manchester Lakes to consider putting their home on the market.  The competition is manageable, and with below 5% interest rates, the right marketing from a great Manchester Lakes listing agent could sway potential condo buyers into a fee simple townhouse.

 Manchester Lakes Photo Tour   Manchester Lakes Video Tour

Posted in Market Reports
July 6, 2010

Kingstowne VA 22315 Market Statistics and Real Estate Update For June 2010

Kingstowne VA 22315 Market Statistics and
Real Estate Update For June 2010

 

 

For the Kingstowne condos for sale, the inventory of units in the $200,000's are crowding themselves. In order to shine, and be one of the units lucky enough to get an offer in the next 30 days, today's buyer is looking for upgrades, cleanliness, and move-in readiness. Four Kingstowne condos went under contract in the last 30 days.   The units in th $300,000's are holding strong, with not as many competing in that bracket, including one unit that went under contract recently.

What's really coming on the market for sale in Kingstowne VA are the townhomes priced in the $400,000's. Out of the 52 townhomes for sale, 29 are in the $400'000's; and the $500,000's are coming in second place with 16 units for sale.  What's really going are the Kingstowne townhomes in the $300,000's.  Perhaps with the expiration of the Federal Homebuyer Tax Credit, buyers in this price range may be one-income households who are passing on the $200k condos, for a little more space, and more ownership bang for the buck by avoiding a condo fee.

If you're thinking about putting your detached Kingstowne home up for sale, then you won't have a lot of competition. One home for every bracket from $400,000 to $799,999.  Now may be the time.  If eleven townhome sellers now need a new place to call home, they just might want to stay in the neighborhood!

See Also: Kingstowne Real Estate Video Tour

       Kingstowne Homes For Sale  List Your Kingstowne Home

Posted in Market Reports
July 5, 2010

HAFA Helps Alexandria VA Short Sales With Guidelines And Timelines

July 2, 2010

Celebrate 4th Of July In Alexandria And Around Washington DC

Celebrate 4th Of July In Alexandria VA
And Around Washington DC In 2010

 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 10, 2010, 4-10 p.m. Enjoy a concert by the Alexandria Symphony Orchestra at 9 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 3, (rain date - fireworks only July 4) 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.

Posted in News