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

Feb. 4, 2009

Certified Distressed Property Expert (CDPE) Designation Awarded To Alexandria VA Real Estate Agent Tamara Inzunza

City of Alexandria (Virginia) residents have another foreclosure prevention resource.  Top Alexandria VA real estate agent and Associate Broker Tamara Inzunza is serving the needs of homeowners and clients better by becoming a Certified Distressed Property Expert (CDPE). In any given market there is always a certain percentage of homes or homeowners who are distressed.  Under normal real estate market conditions there are 1% to 3% of homes in distress, in today's market, distressed properties can represent as many as 1 out of 10 homes on the market.

Because the distressed market has violently collided with the traditional Alexandria VA real estate market, it has become necessary that real estate agents become more prepared and more involved with helping homeowners prevent foreclosure.  With twelve years of real estate sales experience in Alexandria and the Northern Virginia area, Tamara Inzunza is one of less than 1,000 agents nationwide (out of over 1.2 million Realtors in the U.S.) who holds the CDPE designation.

"Most people have options when it comes to foreclosure, and sadly as many as 7 out of 10 homes go to foreclosure without any intervention," explains Inzunza.  That means that there was no effort made for a loan modification, refinance, forebearance, or any other alternative that may have proved successful.  Foreclosure can happen to any home owner, no matter what the income bracket, years of ownership, loan type, or property type.  When workers are laid off by the hundreds, or thousands, we see an increase in foreclosures in the under $400,000 price range.  When companies, businesses, and corporations go under, upper bracket homes can also become distressed.

Real estate in Old Town Alexandria and Del Ray has been more protected because of its location.  However, in Alexandria City, there were 118 homes that went into foreclosure during the first 11 months of 2007, and that number increased to 324 during the first 11 months of 2008.  Properties affected include condos, duplexes, townhomes, and detached homes for sale in all price ranges.

Alexandria VA homeowners can rely on a local real estate agent with the CDPE designation to accurately explain the consequences of a foreclosure.  "We live in an area where a lot of the population is employed either by the military or government.  Most people don't know that if you have a top secret security clearance, a foreclosure can challenge your security clearance and you could lose your job.  In addition to that, you will likely have to disclose that you've previously lost a home to foreclosure when applying for any new job," says Inzunza.

Before just 'walking away' from a home, owners in distress should see if they qualify for an Alexandria short saleA short sale means NO FORECLOSURE on your credit report.  Even if a mortgage payment has been missed, and the bank has delivered a notice of default, a successful short sale can stop the foreclosure process on your Alexandria VA home and save your credit.

The CDPE network is a close-knit network of agents across the country who share resources and information on foreclosure prevention strategies to help KEEP home owners in their home, and exhaust all resources to avoid foreclosure.  Tamara Inzunza can be reached by email at rescue@MyPrivateShortSale.com.

 Most people have options when it comes to foreclosure. Very few people know exactly where to go or who to call...until now.

Posted in News, Short Sales
Feb. 3, 2009

Old Town Alexandria Real Estate And Photo Tour

Posted in Buyers, Sellers
Feb. 2, 2009

Alexandria Real Estate Update And Market Report For January 2009

It's been a SUPER BUSY Tuesday, coming in after a SUPER BUSY January.  The jury's back and the verdict is in on the Northern Virginia real estate market...there's still a pulse!

More buyers made the decision to not put their home search on hold any longer, and offers were made.

In Alexandria City: In detached homes, we surged from 11 homes under contract in December '08, to 26 homes under contract in January '09. Townhomes went from 31 under contract to 34.  And condos went from 50 under contract to 68.  Last month saw the highest number of detached homes sales over the entire three month review.

In the Greater Mount Vernon Area of Alexandria (22306, 22307, 22308, and 22309): Detached homes sales soared from 72 in December '08 to 106 last month. Townhomes went from 55 to 72, and condo units sold increased slightly from 20 in December to 21 in January '09.

In Fairfax County: Detached home sales improved from 442 in December '08 to 592 in January.  Townhome sales also improved, from 353 to 441, and condos sales soared from 127 units sold in December '08 to 169 in January '09.

A very nice start for 2009 indeed.  Fairfax County is getting better at absorbing the bank owned foreclosures, REOs, and short sales inventory.  And while these distressed properties for sale in Alexandria and Northern Virginia will be around for a while, they are starting to move, and they also represent great deals for first-time homebuyers.

I understand that some buyers may feel timid about entering the market because of the bad press, but others have felt that as long as you use real estate as a LONG TERM tool, they've found that it takes the stress out of trying to make a quick buck in real estate.  The financing is available, the money is there, and both lenders and local housing authorities are working diligently to offer programs to help reduce the inventory of homes, offer home ownership education, and offer special financing for home buyers and investors .  If you missed our FREE Home Buyer Class, don't miss the next class which will be offered February 18th from 6-8 PM at the Charles Beatley, Jr. Public Library.


Posted in Market Reports
Jan. 31, 2009

Alexandria Short Sales in Old Town and Del Ray - Do You Qualify

Do You Qualify For A Short Sale

Alexandria VA Real Estate and Short Sale Information and Resources - Because of the City of Alexandria's proximity to Washington DC, its inside the Beltway location has offered some protection from the declining real estate market not afforded to the surrounding jurisdictions.  But no area is completely immune to the current ecomony.  If you own a home in Old Town or Del Ray in Alexandria VA, and you are facing a financial hardship, a short sale can be an alternative that helps you prevent foreclosure.  Some bank approved hardships include:

  • Job loss
  • Bankruptcy
  • Divorce
  • Separation
  • Forced job relocation
  • Inheritance of real estate
  • Military assignment
  • Medical Illness
  • Death
  • Significant loss of income
  • Incarceration

As a home owner, it's not in your best interest to give up and walk away from your home.  A foreclosure can have a devastating impact on your credit, and your ability to rent or secure another job. 

Your financial hardship must be legitimate and you will be asked to provide supporting documentation on your current situation.  This includes past pay stubs, current bank statements, and a list of your current monthly expenses.

Banks don't want to foreclose on your home, remember, banks are in the lending business not the property management business.  If you can prove hardship, then the bank will be more likely to accept a short sale because the foreclosure process will be more costly.

Posted in Sellers, Short Sales
Jan. 18, 2009

Repeat Client Says Thank You Again


I wanted to drop you a note to say 'Thank You'...

Thank you...

  • for the countless open houses
  • for the personal video of my home
  • for the business card advertisements
  • for the flyers that were mailed to the neighborhood
  • for the online advertisements
  • for the countless phone calls
  • for the staging accessories
  • for the newspaper advertisements
  • for taking on the challenge so that I would not have to carry two mortgages
  • for keeping me calm in the midst of my stress
  • for the many things that you did behind the scenes

In my "brilliant" idea to sell in a slow economy, you have proven what an outstanding Realtor can do, and I just want you to know that I would not be where I am today if it wasn't for you.


Posted in Testimonials
Jan. 15, 2009

Alexandria VA Agent Can Help Distressed Homeowners Avoid Foreclosure With Short Sale Solution

Results Matter.  Especially when it comes to helping homeowners facing financial difficulty.  Alexandria Virginia real estate agent, Tamara Inzunza has just completed specialized training in foreclosure prevention and Short Sales to assist homeowners who may be facing foreclosure.

"Many people are facing the pressures of a recession, debt, and job instability.  If a foreclosure happens, your credit immediately takes a dive, and it can take years to rebuild.  A short sale can prevent foreclosure, save credit, and in some cases the homeowner can purchase another home with better mortgage terms," explains Inzunza.

McEnearney Associates, Inc. has always been a leader in the Alexandria VA real estate market, and a long-time supporter of the citizens of Alexandria City.  With the current economic challenges, Alexandria VA homeowners now have one additional resource to help determine if a short sale is a possible solution.

Homeowners in distress can visit www.AlexandriaShortSale.info for assistance, and to see if a short sale is a reasonable alternative.

When it comes to getting your home sold, Results Matter. 

Click here to view information on our real estate sales statistics for the first half of 2008.

Click here to view information on our real estate sales statistics for the second half of 2008.  Put our knowledge, experience, and results to work for you.

You have options when it comes to preventing foreclosure.  Very few people know exactly what to do or where to go.  Visit our short sale information website to see how we can help.


Jan. 11, 2009

Live At Colecroft and Shave 30 Minutes Off Your DC Commute

Imagine the different things you could do if you didn't have to sit in traffic on your way in to and out of Washington DC.  Those days where the smallest sign of precipitation means a sea of brake lights.  The days when a disabled vehicle causes a normal intersection to be treated as a four-way stop.  The days when VDOT just has to be working on your route to work!

As Northern Virginians, we've all been there many times.  So when it comes to looking at real estate and homes for sale in Alexandria Virgnia, you can shave 30 minutes or more off your commute time by narrowing your search to homes near metro.

You could listen to motivational mp3s
and watch the latest podcasts on your iPod. 

You could actually sit down and eat breakfast at home,
instead of wolfing it down in your cubicle because you're late because traffic was bad.

You could catch some extra Zzzzzzzzzz's and snooze in a little longer.

You could spend more time with your pet.  Take your dog out for a longer walk.

You could have time for family dinner in the dining room, as opposed to going through the drive-thru.

You could have more time for yoga.

You could have time to work out and shave off those holiday pounds.

Spending time in traffic increases your stress levels.  When you're stressed, you age quicker, so is it safe to say that when you're looking at real estate for sale in Old Town Alexandria Virginia, and you buy a home close to metro, like this Colecroft townhome located at 540 N West Street, not only would it save you time, but it could actually make you look younger!

If you have time, or if you'd like to see if you can save time,
Stop by our Open House this Sunday, January 11 from 1-4 PM.
Colecroft at Braddock Road Metro Townhome For Sale
540 N. West Street Alexandria, VA 22314



Posted in Buyers, Open House
Jan. 3, 2009

Over 4000 People Bought Alexandria VA Real Estate In 2008

Does that sound like a lot to you? Were you thinking only 10 people bought and sold real estate in Alexandria, Virginia? Maybe 100, what about 1,000? After all of the media doom and gloom about record high foreclosures, unemployment, recession, and even depression, it may be hard for you to believe, but in 2008, approximately 4,130 people bought a home for sale in Alexandria VA!!!

From Alexandria City (including Old Town, Del Ray, Rosemont, Landmark, Cameron Station, Stonegate and Seminary Walk), to Alexandria of Fairfax County (including Kingstowne, Manchester Lakes, Rose Hill, Stratford Landing, Belle Haven, Belle View, Hybla Valley, and Landsdowne), over 4,000 buyers studied, searched the MLS listings, got approved for mortgages, viewed condos, townhomes, duplexes, single-family, luxury, and new construction homes for sale, worked with a buyers agent, submitted offers, negotiated, inspected, and CLOSED ON A NEW HOME!

You won't hear that on CNN or MSNBC, why? Because real estate is and always will be LOCAL!!!

In the sellers market, you were probably afraid NOT to buy because the prices were going up. You probably thought the prices were going to go up forever so you couldn't wait. You wanted to compete, waive contingencies, buy a home without even looking at it, and pay more than the asking price.

Now, you can be picky.  You can see more homes, and you can probably see them more than once before making a decision to buy. You can negotiate, you can offer less than the asking price, you can ask for closing cost assistance, you can ask for repairs, you can get a KICK ASS interest rate, and you can PAY LESS if it APPRAISES for less.

You have all of the ingredients to buy the cheapest house in the most desireable zip code, school districtneighborhood, or city of your choice.  Try waiting for the bottom of the Alexandria Virginia real estate market before you choose your new home, and all you'll get may be leftovers.

Posted in Buyers, News
Dec. 27, 2008

Old Town Alexandria Townhome For Sale | Open House In Colecroft

Old Town Alexandria Virginia Real Estate and Homes For Sale
540 West Street in Alexandria VA 22314
Colecroft Condos and Townhomes | Walk To Braddock Road Metro

  • Four levels of living space
  • Three bedrooms (Fourth level is master suite with private full bath)
  • Two full baths
  • Fenced in back yard
  • Updated kitchen with stainless steel appliances
  • Maple cabinets
  • Granite countertops
  • Gleaming hardwood floors
  • New bathroom fixtures and vanities
  • Five short blocks to King Street and free King Street Trolley


Posted in Buyers, Open House
Dec. 27, 2008

Waiting To Buy Alexandria VA Real Estate Can Cost You

Are you ready to take advantage of the buyers market in Alexandria Virginia and buy a home for sale in Old Town or Del Ray, or are you going to gamble, roll the dice and 'let it ride'?  I love going to Las Vegas, but by no means am I a gambler.  I usually see at least two to three shows every time I go. Why? Because I like to see the performers do their thing, and I'd rather spend time enjoying the show and laughing with family and friends, than letting the one-armed bandits eat up my hard earned money.

Nobody knows the exact date and time the national real estate market will fully rebound. Nobody knows the exact date and time when the house you buy in Old Town or Del Ray today will be worth twice as much as you paid.  Nobody knows the exact date and time when Old Town Alexandria and Del Ray foreclosures will go back to being few and far between.

Waiting To Buy Can Cost YouWhat we do know, is that waiting to buy real estate in Alexandria VA and gambling on both sales prices and interest rates is risky, and can end up costing you more money.  Starting January 1, 2009, the required minimum down payment for all homes financed with an FHA loan will increase from 3.0% to 3.5%.  Couple an increased down payment with an increase in interest rates and you will be sucker punched into spending more for housing by not taking advantage of the window of opportunity that is already starting to close.

In the past sellers market, the demand for homes for sale in Alexandria VA was so great that the objective for many buyers was to find a suitable home.  Today, buyers should concentrate on finding the cheapest home in the best neighborhood.  Buyers right now have a royal flush when it comes to buying real estate in Old Town and Del Ray:

  • Ace - Lower interest rates (the lowest we've seen in over thirty years)Royal Flush
  • King - Decreased competition among other buyers
  • Queen - Sellers (and banks) have adjusted prices downward
  • Jack - Power to negotiate favorable terms and not waive contingencies
  • 10- Seller and lender contributions available in the form of closing costs paid, and down payment assistance such as VHDA and Alexandria City Housing programs

Click here to view our customized spreadsheet that shows how much waiting to buy Alexandria Virginia real estate can cost you.

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Posted in Buyers