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

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

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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+!

 

                  Search Homes For Sale  List With Me

Posted in Buyers, Open House
May 3, 2010

Still Looking At Alexandria VA Real Estate AFTER The Tax Credit Deadline? What Will You Do Now?

Still Looking At Alexandria VA Real Estate AFTER The Tax Credit Deadline?
What Will You Do Now?

 

The federal government, the National Association of Realtors, the local association of Realtors, real estate companies, and Realtors across the country did a great job of making the First-Time Homebuyer Tax Credit public.  Consumers were informed with television commercials, YouTube videos, and numerous blog posts from the media about how to take advantage of the credit.

So, how did you fare?  Did you get the house you wanted in time?  If you're still looking for a home, how do you feel about missing the deadline?  I had a relocating buyer come to the area for one day to identify a home.  After submitting a low offer on a condo in a pretty sought after area, and being rejected, I received the following email,

"I can't believe that they'll [the seller] get what they're asking for, it's a buyers market.  I'll just wait until I come back to the area, but I expect to be compensated for missing the tax credit and not getting my $8000."

I was stunned.  Thankfully, this was sent to me in an email, because if we were face-to-face, then the buyer would have witnessed my 'Deer in the headlights' look.

But seriously, if you've been working with an Alexandria VA buyer agent, who is keeping you informed of the Alexandria VA real estate market conditions, it's pretty clear to see that in certain price points it's not only a balanced market, but it's more of a sellers market.

If you're a first-time home buyer and you missed the deadline but you're still actively looking for a home, do you have any expectations from the seller in terms of compensation?  Do you feel entitled to an $8000 subsidy because the deadline has passed? 

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Posted in Buyers, Sellers
April 27, 2010

12505 Trotter Court In Lake Ridge Offers Location, Space, and Comfort

12505 Trotter Court In Lake Ridge Offers Location, Space, and Comfort
JUST LISTED - Lake Ridge Colonial w/Morning Room Extension

12505 Trotter Court

12505 Trotter Court

Bring your 'must have' list here and you'll see that everything will be checked off!  Move-in ready and waiting for the new buyer, this three level colonial at 12505 Trotter Court Woodbridge, VA 22192 in the commuter-friendly community of Lake Ridge has special touches including:

  • 4" Paprika hardwood floors in the formal living room and formal dining room
  • new windows throughout
  • new kitchen with corian countertops, recessed lighting, deep pullout drawers, activity desk, double-door pantry
  • extended morning room off kitchen with skylights, breakfast bar, french doors to deck
  • step-down family room with built-in shelves, ceiling fan, skylights, wood floors
  • master bedroom with walk-in closet, vaulted ceilings, ceiling fan
  • luxurious master bathroom with oversized separate shower, soaking tub with jets, corian topped double vanity
  • finished lower level with walk-up exit, rec room, third full bath, built-in office/desk, storage
  • rear two-tier deck, backing to mature trees.
Posted in Uncategorized
April 20, 2010

Alexandria VA Real Estate Update April 2010 | Detached Homes Got Snapped Up Last Month

Alexandria VA Real Estate Update April 2010 |
Detached Homes Got Snapped Up Last Month

In March of 2010, many Alexandria City VA detached homeowners were pleased to join the coveted 'Under Contract' club.  While not yet settled, you can clearly see that last month, more buyers and sellers reached an agreement in the single-family detached home market.

According to the numbers:

  • In the $400,000-$499,999 price range, the number of pending sales increased from one in the previous month, to six.
  • In the $500,000-$599,999 price range, again six sales, up from two in the previous month.
  • In the $600,000-$699,999 range, again a boost of two units, from eight to ten.
  • Upper bracket detached homes in the $700,000-$799,999 range also snagged an additional two sales, up from three to five.
  • Upper bracket detached homes in the $800,000-$899,999 range saw the largest jump from one unit, to a whopping seven!

So, what does this mean for detached home owners in Alexandria City (VA)?  It means that right now, there are a lot of opportunities to get in front of a ready, willing, and able buyer.  The competition is still there, so proper pricing cannot be ignored.

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Posted in Market Reports, Sellers
April 5, 2010

Alexandria VA Short Sales | 1030 Anderson Street Alexandria 22312 | Not Your Typical Distressed Sale

Alexandria VA Short Sales | 1030 Anderson Street Alexandria 22312 |
Not Your Typical Distressed Sale

A lot of times when a buyer thinks 'short sale', the thought of dumping a lot of money into a house for fix-ups comes to mind.

Here, at 1030 Anderson Street in the neighborhood of Lincolnia Hills, there's nothing to do but move right in.  The owner has meticulously maintained this home both inside and out.  This beautiful kitchen has been renovated and includes silestone countertops, custom maple cabinets, ceramic tile backsplash, wine fridge, extended pull out drawers, and top of the line GE Monogram stainless steel appliances.

With hardwood floors on the main and lower level, and ceramic tile in the bathrooms, you'll find that this home shows no signs of distress

Here at 1030 Anderston Street, you'll know once you drive up and see the landscaped corner lot, that this is not your average Alexandria VA Short Sale.

This home is listed by Alexandria VA Short Sale listing agent Tamara Inzunza.  As a Certified Distressed Property Expert (CDPE) and Certified Default Resolution Specialist (CDRS), my job is to help homeowners understand their foreclosure prevention options. 

                   

     

Posted in Buyers, Sellers, Short Sales