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

June 23, 2010

Old Town Alexandria Short Sales | Wachovia Fast Track Program Cuts The Wait For Old Town Homeowner Facing Foreclosure

Old Town Alexandria Short Sales |
Wachovia Short Sale Fast Program Track Cuts The Wait For Old Town Homeowner Facing Foreclosure
 

415 S. Royal Street Approved Short Sale In Old Town Alexandria

Old Town Alexandria homeowners facing foreclosure can get faster help if they have a mortgage with WachoviaWe've just completed another successful short sale, this time with Wachovia Mortgage.  Wachovia has recently introduced its Short Sale Fast Track program which significantly reduces the dreaded 'wait period' that comes with buying a short sale. 

I commend Wachovia for being a frontrunner in changing the way that they process short sales.  As as short sale listing agent, one of the hardest parts of the transaction is keeping the buyer interested while other homes come and go on the market.  It's tough for the anxious seller to wait for a response as well, because they need to make plans for finding another home. 

With a streamlined approach, the Wachovia Short Sale Fast Track program has distinct advantages that other banks do not offer including: 

  • the homeowner/borrower does not have to be late on the mortgage to be considered for the program
  • may offer up to $2500 to the homeowner
  • less documentation than what is typically required, only the listing agreement, purchase contract, and preliminary HUD-1 settlement statement as prepared by a local settlement attorney
  • no deficiency judgment or promissory note
  • response within 30 days, and closing within 30 days after approval

If you currently have a mortgage with Wachovia, you may qualify to sell your home as a short sale by participating in their Fast Track program.  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? 

 

Posted in Sellers, Short Sales
June 22, 2010

Lorton VA Short Sales | 9174 Furey Road In Laurel Highlands

Lorton VA Short Sales | 9174 Furey Road In Laurel Highlands

Lorton VA Short Sale Listing By Tamara Inzunza, CDPE, CDRS, SFR

 

Move-in ready with lots of upgrades, this distressed property shows no signs of stress!  Features include:

  • * - Hardwood floors on main level
  • * - Powder room on main level
  • * - Separate dining room
  • * - Rear kitchen with island, upgraded cabinets, gas cooking
  • * - Family room off kitche w/gas fireplace, french doors
  • * - Rear elevated TREX deck (no maintenance, no staining, heat resistant)
  • * - Upper level laundry room w/full sized washer and dryer
  • * - Master bedroom w/tray ceiling, custom built-ins in walk-in closet
  • * - Luxury bath with soaking tub, separate shower, double vanity sink
  • * - Walkout lower level finished with rec room, third full bath

 

Subdivision: Laurel Highlands

List Price: $425,000

Bank: Chase Short Sale | Bank of America Short Sale

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

Lorton 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.

                         

Posted in Short Sales
June 9, 2010

The Shadow Knows | Northern Virginia Marketwatch Real Estate Update And Home Sales Statistics

The Shadow Knows | Northern Virginia Marketwatch
Real Estate Update And Home Sales Statistics

What lurks in the future of Northern Virginia's real estate market? With a tip of the hat to the old radio serial of the 1930s, The Shadow Knows.
 
In this case, we are watching two "shadows" closely: the much-discussed shadow inventory of distressed homes that may flood the market, as well as the long shadow cast by the specter of rising interest rates.
 
Distressed homes are short sales - those where the owner sells owing more than the house is worth - and foreclosures, broadly defined as those homes lost to the lender because of default on the mortgage. One of the measures we look at is the trend in new listings coming on the market in our regional multiple listing system and, as the chart to the right indicates, there is not yet an upward trend in this distressed inventory. Short sales (the yellow bar) constituted 16.6% of new listings in the first 4 months of 2009 and 14.8% in the same time period of 2010. Foreclosures (the red bar) were 7.2% of all new listings in January-April 2009 and just 2.3% so far this year. This doesn't mean there's nothing to worry about, because we know that lots of home owners are still upside down on their mortgage - but we are encouraged that the "shadow" inventory isn't exploding.
 
Frankly, we're convinced that rising mortgage interest rates will have more impact on the market recovery than distressed inventory, but we're tempering our concern over the fact that, as rates rise, 3-, 5- and 10-year adjustable rate mortgages will become more popular, and their lower-than fixed rates will help cushion the loss of buying power that will come with higher rates. For more metro area statistics, visit http://www.mcenearney.com and click on the "news" tab.

Graph of New Listings
Short Sales, Forclosures & Non-Distressed Properties
Northern Virginia - January 2009 - Current
 

If you're thinking of a move, don't let the summer sail on by ... A great selection of homes is currently available, but the inventory is changing frequently. 

For the most up-to-date assessment of our LOCAL market, please call me today. As an industry leader, McEnearney Associates prides itself on it's comprehensive knowledge throughout our area ... data and statistics that just may surprise you.  

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June 7, 2010

Del Ray Condos For Sale | Rosemont Condos For Sale At 300 Commonwealth Avenue Unit 2

Rosemont Condo At King St Metro For Sale
Overview
Maps
Photos
Description
Market Stats
$335,000
Single Family Home
For Sale
Main Features
2 Bedrooms
1 Bathroom
Interior: 724 sqft
Location
300 Commonwealth Avenue
2
Alexandria, VA 22301
To get updates on open house dates and other property events, please click the "Like" button below:

Tamara InzunzaTamara Inzunza

McEnearney Associates, Inc. Realtors
(703) 703-286-1228
tamzoo@movingtonova.com
http://www.MovingToNova.com
Listed by: McEnearney Associates, Inc. Realtors
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Posted in Buyers, Condos
June 5, 2010

Alexandria VA Homebuyers Have Yet Another Reason To Get Preapproved | Your Loan Is No Longer Available

Alexandria VA Homebuyers Have Yet Another Reason To Get Preapproved |
Your Loan Is No Longer Available

We're Sorry That Mortgage Program Is No Longer Available Please Try Your Loan Again Later

 

If it's been a while since you've checked in with your mortgage lender, you may want to call and make sure that you are STILL are approved for your mortgage loan.

While not having a  pre-approved didn't make this buyer cry, finding out that he would have to make a larger down payment because the previous mortgage that he qualified for was no longer available did come as a surprise!

Realtors can never grow tired of stressing the importance of obtaining your mortgage pre-approval before starting your home search.  There are so many emotions involved when buying a home, and having your pre-approval just eliminates the emotion of disappointment when you realize that a house that you fall in love with is out of your price range.

Due to the changes in lending industry, many mortgage programs that were available three or four years ago, have been pulled off the shelf and are no longer being offered today.  And even if you have good credit and a stable job history, the lender may require additional documentation today that would not have been requested years ago.

A good example is if you currently own a home and you are moving up to purchase another home.  Today, if you intend to rent your home, a lender may ask you to provide rental comparables for homes that have rented in your neighborhood, in addition to a signed lease and proof of a security deposit and first month's rent as a condition of your loan approval.  Your lender may also require you to show documentation that you have a certain amount of money in reserves to cover a vacancy, an amount over and above what your estimated closing costs will be.

Here's another example that I've seen first-time homebuyers use as an excuse for not getting a mortgage approval.  And that is the fact that they don't have the money for closing costs NOW, but they will have it by the time of closingLenders today aren't playing that game...and they shouldn't.  Today, a lender will want to see that you have your money for a down payment and closing costs already in the bank.

Alexandria VA homebuyers can take some of the stress out of the homebuying process by taking the initiative to obtain their mortgage approval.  There's no cost and no obligation to actually make a purchase, but it's the all too important first step that shouldn't be overlooked.

Video: Biggest Buyer Blunder - The Importance of Loan Approval

Bonus Free Report #1: 10 Questions To Ask Your Lender 

Bonus Free Report #2: 10 Things A Lender Needs From You

Bonus Free Report #3: 8 Steps To Getting Your Finances In Order 

    Accredited Buyer Representative

Call Tamara Today

                         Search Homes For Sale  List With Me

May 28, 2010

Alexandria VA Short Sale Under Contract

Alexandria VA Short Sale Under Contract

1030 Anderson Street Alexandria, VA 22312

This beautiful move-in ready bi-level home in Lincolnia Hills is now Under Contract.  Not all Alexandria VA short sales are in need of repair and a total remodel.  As an Alexandria VA short sale listing agent, I encourage homeowners to do their best to make the home show well for today's buyers.  While Alexandria VA homebuyers are looking for a deal on the price, not all are looking to spend money on repairs.  A home that's showase ready, whether it's a short sale or a traditional sale, can receive multiple offers.  This home at 1030 Anderson Street did receive multiple offers.
When you buy an Alexandria VA short sale, you help prevent a homeowner from facing foreclosure.  You also help stabilize neighborhood Alexandria VA property values.  No one wants to live next door to a vacant home.  And in the heart of spring, this gardener at heart is able to maintain the home and the yard for the new homeowner.
If you are facing a hardship and would like to know if you qualify to sell your home as a short sale, please contact me.
                       
Do You Qualify For A Short Sale?
Posted in Sellers, Short Sales
May 25, 2010

Tysons Corner Luxury Condo Approved Short Sale | Penthouse Level With Upgrades

Tysons Corner Luxury Condo Approved Short Sale |
Falls Church Short Sale Condo
Penthouse Level With Upgrades
2230 George C Marshall Drive Unit #1219 | Renaissance 2230

If you're looking for a luxury condo in Tysons Corner, this approved short sale at Renaissance 2230 just might fit the bill.  Top floor unit with three bedrooms and two full baths, granite countertops, stainless steel appliances, hardwood floors, and two private balconies.

This is a Capitol One approved short sale listed for $349,000 and closing must take place on or before June 11, 2010.

              

Posted in Condos, Short Sales
May 14, 2010

Peddling On The Lake At Lake Ridge Park

At12505 Trotter Court, you're just five minutes away fromLake Ridge Park!

Posted in Buyers, Fun, Sellers
May 14, 2010

Turtle On The Log At Lake Ridge Park

At12505 Trotter Court, you're just five minutes away fromLake Ridge Park!

Posted in Buyers, Fun, Sellers, Videos
May 12, 2010

Open House Lake Ridge VA | 12505 Trotter Court Woodbridge, VA 22192

Open House Lake Ridge VA | 12505 Trotter Court Woodbridge, VA 22192

 

12505 Trotter Court Step-Down Family Room

 

Stop by the Open House this Sunday, May 16, 2010 and see this warm and inviting step-down living room that 12505 Trotter Court in Lake Ridge has to offer.  The forecast is SUNNY and you'll be able to see lots of sunshine flowing in through the skylights that are in the family room, the extended morning room, and the luxurious master bathroom.

You can also imagine yourself hosting those spring- and summertime gatherings out on the rear two-tiered deck that backs up to mature trees!  Don't miss out.  This one is a 10+!

 

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Posted in Buyers, Open House