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

March 3, 2015

Tam's Tuesday Tip | Looser Credit and Lower Down Payments

Tam's Tuesday Tip -
Looser Credit and Lower Down Payments

 

 
Winter seems to be lingering around like bad leftovers that you forget to throw away.  That's ok, because Spring is only 17 days away and warmer temps are sure to follow.
 
There are a couple points to share this week, all positive for those of you who will be in the market to buy a home within the next 3-6 months. First, lenders are loosening their lending guidelines. According to the national HousingWire news service, "mortgage applications should begin to see faster processing times, reduced credit score requirements, and greater leeway."  Does this mean that we're heading into the mess that we saw that created the last mortgage meltdown?  No, but it does mean that the super stiff restrictions that came as a result are now starting to ease up.   Lenders will still look at your income, time on your current job, how much monthly debt you have, and your credit score, so that still matters.  But you don't need a 780 credit score to buy a home.  Looser credit and low interest rates are creating more opportunities for buyers to make the transition into homeownership.
 
Second, low down payment mortgage programs are making a comeback!  The director of the Federal Housing Finance Agency (FHFA) just announced that Freddie Mac and Fannie Mae will once again be making mortgages available with down payments as low as 3%, lower than the standard 3.5% that is currently required for FHA loans.
 
 
Take a look at the graph above and you'll see that many people believe that in order to buy a home, you need a down payment of 15%. With rising rents, it's a real challenge to put money away and save up for a large down payment on a new home.  Mortgage loans with low down payment options make it easier for renters to realize the advantage owning versus renting.
 
When you're in the beginning stages of your home search, let us help you find out what opportunities are available for you!  Remember, there's never an obligation. 
 
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Posted in Tuesday Tip
Jan. 28, 2015

Just Sold in Country Club Estates Alexandria VA

Just Sold in Country Club Estates in Alexandria VA
6711 Tahalla Drive

detached home alexandria va

Alexandria VA Homes For Sale - The real estate market activity is picking up in Alexandria VA.  Multiple offers were received on this split level detached home at 6711 Tahalla Drive, and it was just sold for $463,000. This home was located on a private cul-de-sac with a lot size of just under a half acre, and backed to Stoneybrook Park. 

Inside were three bedrooms, including a master bedroom with a renovated full bath, and a second hallway bath that was upgraded with new fixtures and ceramic tile flooring.  There were hardwood floors in the main level living room, dining room, and bedrooms.  The kitchen was also updated with granite countertops, black appliances, tile flooring, and new undermount sink with pullout spray faucet.

Although this home did include a one car garage, it also had an extended driveway.  Visitor parking was easy with the cul-de-sac location.

The back yard made you feel like you were completely away from it all.  When you stepped out through the french doors, onto the 20x20 TREX deck, there was nothing but open space and trees.  That's one of the benefits of detached living, the yard space.  Just one walk through this home and you could tell the owners spent a lot of time outside.  There were two decks, a lower level area that was partially fenced, playground set, and separate shed.

If you are currently living in a condo or townhouse and want to expand and find a detached home for sale in Alexandria VA, start your search here or give me a call at 703-623-8759 today.

 

        search alexandria va homes for sale   what's your alexandria va home worth

 

 

Posted in Just Sold
Jan. 24, 2015

Just Sold in Brightwood Subdivision in Washington DC

Just Sold in Brightwood Subdivision in
Washington DC

Brightwood Homes For Sale in DC - January is off to a rocking start.  Another home has just been sold in the Brightwood section of Washington DC, courtesy of Tamara Inzunza of RE/MAX Executives.

Like many clients, my buyer was referred to me from another client.  With a quick loan approval from one of my preferred lenders, we were on our way looking at homes for sale in Brightwood.  As the 2014 calendar year was wrapping up, the Brightwood real estate market was really heating up.  We wrote multiple offers with escalation clauses, then we shifted our strategy and found this home at 1400 Sheridan that needed a little love.

If you are moving up to a larger home or just starting out and buying your first home, put me to work for you. Visit my website to see all Brightwood homes for sale and give me a call at 703-623-8759.

 

 

Jan. 2, 2015

Alexandria VA Foreclosures for November 2014

Alexandria VA Foreclosures for November 2014

When sizing up the foreclosure inventory for Alexandria (City) VA in November 2014, you only need one hand...actually you only need one finger.  There was only one bank owned foreclosure home that sold in November, that property sold for $690,000.  It was a four level townhome in the Old Town Alexandria community of Old Town Greens.

 

Buyers who are swarming the real estate market looking for Alexandria VA foreclosures won't have a lot to choose from.  Take a look at the number below, there were only four new foreclosures for sale in the month of November, out 181 new listings total.  Foreclosures are only 2.2% of the total new listing inventory.

To make sure you're not missing out on another opportunity, visit the Alexandria VA foreclosures page for a current list of available homes for sale. Got a quick question, just text me at 703-623-8759.

 

July 18, 2014

2-Car Garage Townhome For Sale In River Oaks at 2618 Glenriver Way Woodbridge VA

2-Car Garage Condo For Sale In River Oaks at 2618 Glenriver Way Woodbridge VA

Search current inventory of Garage Townhomes For Sale in River Oaks

exteriorListing Details
Two-Car Garage Townhome In River Oaks

2618 Glenriver Way, Woodbridge, VA 22191
MLS Number: PW8402368
Price: $319,900
Bedrooms: 3
Full Baths: 2
Half Baths: 1

Call Tamara Inzunza, Woodbridge VA Listing Agent, of RE/MAX Executives at 703-623-8759 to see this property today.

Start From The Outside And Work Your Way In

It's rare to find a 2-car garage townhome with a stone front in Woodbridge VA, so the exterior of this home will capture your heart. Located in the newer section of beautifully planned River Oaks, you'll love the view of being surrounded by newer townhomes in front.  As you drive up, you'll also notice that there are plenty of visitor parking spaces for guests.  This home offers lower level entry, so you'll start in the foyer, and work your way up to the main level.

Open Main Level Floor Plan

DSC_9882_3_4_5Talk about an open floor plan!  The living room includes crown moulding, gleaming hardwood floors, ceiling fan, and custom window treatments.

Notice the windows that allow for lots of natural light.

 

 

 

 

DSC_9870_1_2_3 The dining room offers space for a table that can comfortably seat six.  There's also a decorative column that is elegant and serves as a architectural divide between the dining room and kitchen area.

 

 

 

 

 

Beautiful Master Bedroom and Luxury Bath

DSC_9966_7_8_9Upstairs you'll find three bedrooms, including the master bedroom with a walk-in closet, plus a secondary closet, and the private master bath that has a double vanity sink, separate soaking tub, and separate shower.

 

 

 

 

 

Click here to see more photos of this home.


 

Your Top Woodbridge VA Buyer Agent

Are you thinking about selling your home in Woodbridge VA? Make sure to call an experienced  listing agent. With 17 years of selling experience, I’ve successfully worked with buyers and sellers to find homes for sale in Woodbridge VA. If you’re looking for a bank owned foreclosure, or short sale, I can help. Just call me today at 703-623-8759.

Connect with me on Google+

 

 

 

July 10, 2014

Top 3 Protections You Need When Buying An Alexandria VA Home

Top 3 Protections You Need When Buying An Alexandria VA Home

Smart HomebuyerAlexandria VA Real Estate - Whether it's a buyers market or a sellers market, there are three protections that I encourage my buyers to include in their written offers:

  1. A home inspection contingency - It's normal to first see the photos of Alexandria VA homes for sale, and perhaps a video.  Even when we look at a property for the showing, we're looking to see if your furniture can fit, or if there are enough closets for all of your things.  At the most, we'll probably spend 30 minutes in the house that you decide to buy.  A home inspector comes in with an unbiased eye and will test the appliances, plumbing, electrical, HVAC, foundation, and attic.  The home inspector is also armed with tools to check for leaks and moisture.  The home inspection gives you an opportunity to understand how the guts of the home work.  If there are items that need to be addressed, they can be negotiated with the seller during the negotiation period and if for any reason you and the seller cannot agree, the contract can be terminated.
  2. An appraisal contingency - When the market it hot, it's common to see escalation clauses and offers that are above the asking price. But what happens when you're getting a loan and the bank says it's not worth what you're paying? If the home appraises for lower than the contract price, then you have the option of paying the difference between the appraised price and the contract price, or asking the seller to lower the price.  If an agreement cannot be reached between you and the seller, then the contract can be terminated.
  3. A financing contingency - While a mortgage approval is a must with any offer, it's still a good idea to include a financing contingency, especially for condos.  When you are getting a mortgage loan, the underwriter has the final say as to if your loan will be cleared for closing.  Sometimes, there are things that come up that are out of the buyer's and seller's control that affect financing.  For example, if you're buying an Alexandria VA condo for sale and during the contract period, the association reports that the number of rented units is higher than the number of owner-occupied units, then you may not be able to close.  What about identity theft? Imagine that your identity is stolen while you're under contract and your credit scores immediately drop and you now have a collection on your credit.  Yes, it has happened.  The financing contingency protects you in the event that things beyond your control prevent you from qualifying for the mortgage.

When you're ready to buy a home, let's make sure that we have these protections in place with your offer.  A home inspection, an appraisal, and underwritten financing can confirm that all is well, or alert you to actions that may need to be taken prior to closing.


Your Top Alexandria VA Buyer Agent

Are you thinking about buying a home in Alexandria VA? Make sure to call an experienced  buyer agent. With 17 years of selling experience, I’ve successfully worked with buyers and sellers to find homes for sale in Alexandria VA. If you’re looking for a bank owned foreclosure, or short sale, I can help. Just call me today at 703-623-8759.

Connect with me on Google+

 

 

Posted in Buyers
July 9, 2014

Palazzo at Park Center Condos in Alexandria VA | June 2014 Sales Report

Palazzo at Park Center Condos in Alexandria VA | June 2014 Sales Report

 

Palazzo at Park Center CondosAlexandria VA Real Estate - What do you get when you add Inside the Beltway + Shirlington? An incredibly convenient location that is the perfect place for an Alexandria VA HotSpot! The contemporary condos at the Palazzo at Park Center are proving to be one of Alexandria's hottest communities.

Why do homebuyers like the Palazzo at Park Center condos? For starters, an underground garage. Parking is always a premium in the city, and all of the homes in the Palazzo at Park Center have at least one garage space that conveys.  Some of the two bedroom models have two garage spaces, but not all.  When the building was initially sold, additional parking was sold separately so keep in mind that not all of the two bedroom units will automatically have two parking spaces.  Another structural feature is that all of the units have a washer and dryer in the unit.  If you're looking at condos for sale in the Alexandria area, you'll notice that some condos do not have washer/dryer units, this is a very popular feature.

 

What happened with home sales in June 2014?

  • Total number of sold/settled units - 1 unit
  • Total number of units that went under contract - 2 units
  • Total number of new listings - 3
  • Days on market for sold units - 10
  • Sold price of units sold - One unit sold for $300,000, it was a 2br/2ba unit with 1058 square feet, and with one parking space.

Thinking about selling your Palazzo at Park Center condo? Now may be the right time to take advantage of how quickly the units are selling.  Just request your free confidential market analysis (or CMA) to help you determine how much your condo is worth.   I currently have buyers who are looking for two bedroom units, so please don't hesistate to call me at 703-623-8759.  There have been ten homes that have sold so far in 2014, and your home could be next.

Thinking about buying a home in the Palazzo at Park Center? Make sure that you have all of your ducks in a row.  Start first with your mortgage approval so that you are are in a position to make an offer once a unit becomes available.  With the short days on market, it's likely that you will be competing with other buyers.

Understanding the Alexandria VA community and the local market statistics is key to providing superior service.  If you need assistance buying or selling in the Palazzo at Park Center, give me a call today at 703-623-8759.

Connect with me on Google+

 

June 28, 2014

Lorton VA Foreclosure For Sale - Luxury in Laurel Hill at 8145 Bluebonnet Drive

Lorton VA Foreclosure For Sale - Luxury in Laurel Hill at 8145 Bluebonnet Drive

bluebonnet1

Lorton VA Foreclosures - Are you looking at homes close to South County High School? Then take a look at this bank owned home in the popular community of Laurel Hill.  Foreclosures don't come up often in this community so this is indeed a rare find. This luxurious colonial at 8145 Bluebonnet Drive boasts over 4,000 square feet of cartwheel friendly living space.

All of the structural appointments that you'd expect to find are here including:

* - Hampton model with brick front and dormers

* - three fully finished levels with walkup basement

* - hardwood floors on main level

* - two story foyer

* - expanded kitchen with morning room extension

* - three full baths upstairs

* - Princess suite with private bath on upper level

* - luxurious owner's suite with sitting area, full bath, and walk-in closet

* - main level office/libary

* - rear deck and patio

Homes in Laurel Hill have been selling between $850,000 and $900,000 so be sure to stop by and take a look at this Lorton VA luxury foreclosure home this Sunday between 12 and 3 to take a look for yourself.


 

Your Lorton VA Buyer Agent

Are you thinking about buying a home in Lorton VA? Make sure to call an experienced Lorton VA buyer agent. With 17 years of selling experience, I've successfully worked with buyers and sellers to find homes for sale in Lorton VA. If you're looking for a foreclosure, or short sale, I can help. Just call me today at 703-623-8759.

Connect with me on Google+

 

 

June 23, 2014

Just Listed in Cardinal Knolls - Woodbridge VA Short Sale

Just Listed in Cardinal Knolls - Woodbridge VA Short Sale
4566 Perch Branch Way

perch_branch_collage Not all distressed sales show signs of distress! The home at 4566 Perch Branch Way in Woodbridge VA has just been listed for sale as a short sale.  No need to worry about the process being dragged out for months because there is only one loan to negotiate and we will have a written response from the bank within one week.

If you are in the market to buy a home in Woodbridge VA, you must put the home at 4566 Perch Branch Way on your list.  Some of the exciting features include:

* - three fully finished levels

* - front kitchen with built-in microwave and eat-in table space

* - living room with gas fireplace

* - master bedroom with vaulted ceilings and private full bath

* - walkout level basement with full bath

* - rear upper and lower decks

* - partially fenced back yard

This list price for this beautiful home is $249,900 which makes this ideal for a first-time buyer or scale down buyer.  Cardinal Knolls is a small enclave of townhomes nestled along Cardinal Drive, a popular corridor of residential neighborhoods in Woodbridge VA.


Your Woodbridge VA Listing Agent

Are you thinking about selling your Woodbridge VA home? With 17 years of experience, I have helped families throughout Northern Virginia, including Woodbridge, successfully sell homes. If you are facing a financial hardship or are upside down on your home, you may be eligible for a short sale.  A short sale may give you the opportunity to be legally released from the negative balance on your home mortgage.  As an experienced Woodbridge VA short sale listing agent, I have helped many homeowners avoid foreclosure and receive a closing cost credit for relocation assistance. Be sure to visit my website to search all homes for sale in Woodbridge VA, including short sales and foreclosures.  When you're ready to get your home sold, call me at 703-623-8759 to get started.

 

 

Posted in Just Listed
June 23, 2014

Just Sold In Lorton | Luxury and Land in Lorfax Heights

Just Sold In Lorton | Luxury and Land in Lorfax Heights
9010 Ridgely Drive, Lorton VA 22079

9010 ridgelyLorton VA Real Estate - One of the benefits of working with an experienced Lorton VA buyer agent is relying on their professional network.  The home at 9010 Ridgely Drive in Lorton VA was just sold, even before it went on the market.  This beautiful colonial in the Lorfax Heights neighborhood had many sought after features including:

  • Main level bedroom
  • Main level full bath
  • 1/2 acre lot with fenced in back yard
  • Master bedroom with oversized walk-in closet
  • Walkout level basement with french doors
  • Four full baths
  • No HOA

Lorfax Heights is one of the few subdivisions in Lorton with no HOA.  That means no additional rules, restrictions, and regulations to follow.  Let's say you want to put pink flamingos in the yard, front or back, there's no HOA stopping you.  Most homeowners wouldn't go to that extreme, but even small cosmetic changes like adding a storm door, or improvements like adding a deck or patio can be installed without having to get neighbors' signatures or submitting an application through an architectural review committee.

When you're ready to buy a home in Lorton VA, make sure you're working with a Lorton VA buyer agent who has the connections, and who actively prospects and networks with other top agents to find homes for sale before they hit the market. With 17 years of experience, I have helped many families buy and sell homes including foreclosures and short sales.  Use my website to search for homes for sale and call me at 703-623-8759 when you're ready to make that move.

Connect with me on Google+

 

 

 

Posted in Just Sold