Fairfax County VA Home Search Website Blog

Not everyone decorates their home for Valentine’s Day, but enough do that it brings to mind the question, “How much decoration is too much when you have one of the Fairfax County VA homes for sale?”

Decorations, although beautiful to you, are a matter of personal taste and style. Since this is a buyer’s market, something as simple as the wrong decorations can push a potential buyer from saying “Yes!” to saying “No.”

Rules for Decorating Fairfax County VA Homes for Sale
Here are a few tips on decorating for Valentine’s or any other day when you’re trying to sell your home:

• Choose decorations that are small and unobtrusive. Large decorations put too much emphasis on themselves. When you’re trying to sell your home, these take away from the overall appearance of the interior.
• Finding buyers is all about allowing them to see themselves living in the home. When choosing your decorations, or deciding to decorate at all, keep this firmly in mind. Ornamentation made of bright colors may be fun, but can also be overwhelming.
• If you’re ever at a loss on how to decorate or stage a home for sale,  take a trip through furniture stores. Stores that sell furniture often have furniture set up in “living” displays so people can see what the pieces look like together. Look at the displays, take pictures and notes, and then apply the knowledge you gain to make your own home look like a display.

Decorating and staging correctly can make a huge difference on how buyers see Fairfax County VA homes for sale. The few tips above can help make your home shine.

Ready to sell your home?  I can help.  Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Is it possible? Is this the year to buy Fairfax County Virginia real estate? Why would 2010 be special? Well, let’s look at the current house hunting conditions, which might give some insight:

• Home prices are lower than they’ve been since 2003. According to the National Association of REALTORS® (NAR), the median price of homes in the U.S. was around $170,000 by November of last year.
• Fixed mortgage rates have almost reached record lows. Although they are subject to change from week to week, at the time of this writing, 15 year fixed and 30 year fixed mortgages were 4.45% and 5.06%, respectively.
• The high number of foreclosures has been painful for many homeowners. However, it has also created great deals for those who want to buy Fairfax County Virginia real estate, but don’t want to spend their entire life savings at once.
• The extension and expansion of the Obama administration’s homebuyer tax credit has been a driving force for many home sales. The government has handed out a large amount of tax credits to many first-time buyers, and will be paying out more as the purchase date draws closer.

So, is it the year to buy a house? Only you know for sure. The economy is up and running once again, but the unemployment rate is still at 10%, and may go higher. The answer to “can I buy a home” depends on whether you have a stable job or not; look at your industry, company and job before answering. The good news is that, while unemployment may still rise, it’s expected to level off and start decreasing mid-year.

For those who can afford a home, want to buy one, but are waiting for the bottom of the market, don’t wait too long. The Fairfax County Virginia real estate around the corner with the “SOLD” sign might have been your dream home!

If this is a good year for YOU to buy a home, I can help. Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Last November, when Congress approved an extension on the first-time homebuyer tax credit, potential homebuyers who missed the original deadline were excited. It was another chance to buy one of the Alexandria VA homes for sale and receive an often badly needed $8,000 on their tax return.

Real estate agents were excited as well, because the tax credit extension expanded to include “upgrade” buyers – those who wanted to replace their current home with a bigger one. The possibility of selling a home was higher than it’d been in a while. However, expansion to include upgrade buyers wasn’t the only change.

If you’re hoping to buy a Alexandria VA home for sale and take advantage of the tax credit before the new 2010 deadlines, here are a few things to keep in mind:

• Two dates are crucial.  You must sign a contract before April 30.  The closings must be complete by June 30. One of the best ways to make sure things go smoothly is to get pre-approved for a mortgage before you go home shopping. Pre-approval tells you, as well as the seller, exactly how much home you can afford. This way, you don’t waste your time or the seller’s.
• Negotiate without emotion. Potential buyers have lost the home of their dreams because they became competitive. If you’re negotiating for closing costs, housing price or anything else, make sure that your requests are reasonable. Don’t change something “just because.”
• Taxes must be mailed in.  Due to people trying to scam the system, you won’t be able to file your taxes electronically; you’ll have to mail them in. Make sure you’re using the right forms, and, if you need your tax refund by a specific time, you might want to file early.
• Documentation is truly priceless.  Again, thanks to scammers, buyers will have to include a signed mortgage statement, proof of residency and a driver’s license with their taxes.

You still have until April 30 to sign a contract on one of the Alexandria VA homes for sale to get the tax credit. Today’s real estate market is beneficial for buyers.  Put it to work for you!

Looking for Alexandria VA homes for sale?  If you’d like to take advantage of the homebuyer tax credit, I can help. Call me right away at 703-909-3939 or email Steve@HomeSearchWebsite.com now so we can beat the deadlines.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Any time supply is bigger than demand, businesses start looking for a way to set themselves apart from the competition.  If you have one of the Alexandria VA homes for sale, you’re probably doing the same thing. What is the competition like, though? Are you looking for similar houses, similar neighborhoods – or is the competition nationwide? By paying attention to homes that are selling nationwide, you can find out a lot about what buyers want.

Once again, CNN Money published their “Top 100 Best Places to Live” for 2009. If your Alexandria VA home for sale is in a place similar to the Top 10, you just might have a much better chance at selling, especially if you market those positive attributes. Here are just a few of the things these places have in common:

• Small towns: Whether a place is small or not is always relative. For instance, someone who lives in a town with less than 3,000 people would think Bryant, Arizona, with a population of almost 15,000 was a big place. However, the Top 100 list points the way; the population numbers range from 8,000 to 50,000. If your home is in a low population area, this could be a great selling point.
• Robust, needed industries: High-tech industries, energy services and health care are just a few sectors that haven’t been hit as hard by the recession. These industries will be needed for years to come, and the demand for trained workers is higher in areas with these industrial sectors than in others. If your home is located in an area with lower than average unemployment, brag about it!
• Low crime rates: For most, if not all of the top 100 places, crime is low, if not almost nonexistent. For instance, Papillion, New England has around 22,000 people. They also have less than one personal crime per 1,000 people. If you aren’t sure what the crime rate is around your home, check! Low crime rates are an excellent selling point; one that you could be missing out on.
• Education: Education has always been important to most people – a fact that is clear with the Top 100 list. The list averages 20 universities or professional schools within 30 miles, and over 71% of the population per place has had some college. Do you have great universities? Do you live in a highly educated community? It may not seem like a big deal to you, but it will to the buyer.

From population demographics to the number of recreational activities available, everything goes into making your Alexandria VA home for sale attractive to buyers. Do the research and find out what makes your area special.

If you’re trying to find your home’s selling points, I can help. Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

At the beginning of 2008, it was predicted that green national and Fairfax County VA homes for sale would not only become a steady trend, but would also become the nationwide norm. As the home building industry struggled with economic upheaval, the building of green homes was one sector that kept growing.

Energy Star Designations
As of December, 2009, over 1 million homes have received the Energy Star designation since the program’s inception in 1995. Despite the many foreclosures, the glutted housing market and drowning homeowners, 75,000 more homes gained the Energy Star designation in 2009, raising the numbers to 1,024,200.

In 2007, 12% of single-family homes in the U.S. were Energy Star homes. In 2008, the numbers had reached 17%. Although the reports have yet to come in for 2009, there’s no doubt the numbers are increasing.

Two Other Green Home Certifications
Energy Star isn’t the only one with a green program; the U.S. Green Building Council (USGBC) also has a green home certification program. The number of participating homes is small (3,050 by the end of ’09), but noteworthy.

The National Association of Home Builders Research Center (NAHB) provides the National Green Building Certification, with over 500 participants.

The need for green national and Fairfax County VA homes for sale is, admittedly, consumer driven. Homebuyers want energy efficient homes - whether those homes are newly constructed or remodeled – and are willing to pay for them. Yes, the cost is higher, but most expect to make back the money spent on the house through future energy savings.

As we move forward in 2010, keep green in mind because energy efficient Fairfax County VA homes for sale are in high demand. If you’re trying to sell your home and can’t get it off the market, consider renovation towards a greener world.

If you’re trying to sell your home or find a green home to buy, I can help. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Valentine’s Day is just around the corner.  Are you wondering what to get your loved one? Buying foreclosures in Fairfax County VA may not be on the top of your list, but maybe it should be. Do you need some extra room? Is it time to spread out? Are you a repeat buyer?

You’ve probably heard the term “buyer’s market” more often than you care to, but if you want to expand your living quarters, you might want to pay attention.

What is a buyer’s market?
The typical reply might be something like, “A buyer’s market is where the supply is greater than the demand; the heavier the supply, the stronger the buyer’s market.” What you really need to know is that a buyer’s market is heavily tipped in your favor. Mortgage rates, housing supply and negotiations are all pointed towards helping you find – and buy – the home of your dreams.

What’s so great about buying foreclosures in Fairfax County VA or other homes for sale now?
Whether you’re a first-time buyer or currently own a home and want to upgrade, there are plenty of reasons to get into the action now:

• Home prices are lower than they’ve been in 12 years.
• Foreclosures are going for rock-bottom prices as lenders try to make up their losses.
• The number of programs to help buyers get into a new home is higher than it’s ever been.
• Between government programs, lenders’ programs and private programs, the chances of getting into a home you can afford are high.
• Many sellers are eager to find qualified buyers. If you’ve been pre-approved for a mortgage, you have a better stance in negotiations.
• Mortgage rates are lower than they’ve been in a long time, but are slowly starting to rise again.

These are just a few of the reasons.

Why buy foreclosures?
Foreclosures are selling at much lower prices than other homes. In fact, many expect to save at least 30% when buying foreclosed property and that percentage isn’t unrealistic.

If you’ve been trying to figure out what to buy your Valentine, and you’ve been thinking about buying a home, look around at the foreclosures in Fairfax County VA. Not only can you find a fantastic deal, but you’ll also be able to celebrate Valentine’s Day in a new home!

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Not too long ago the “Greening of America” was just an idea.  Now, it’s a government mandate.  The latest requirements for new construction may just cause the cost of new Alexandria VA homes for sale and around the nation to rise.

In December, the Environmental Protection Agency (EPA) announced new stormwater management requirements for new construction.  These new requirements have the National Home Builder’s Association (NAHB) up in arms. In a news release posted on the NAHB website, the Chairman said the new housing regulations are unrealistic. 

It all comes down to stormwater. When it rains, water hits the ground and seeps into it. In most cases, that water is absorbed and filtered by the ground, and then replenishes the world’s water supply. Not so in developed areas, where pavement and roofing, among other man-made surfaces, prevent the water from being absorbed.

The remaining water becomes runoff, which, according to the EPA, damages the infrastructure of surrounding development, causes downstream flooding and bank erosion. In addition, the water carries pollutants, which are carried into streams and water supplies. The new regulations have a strict limit on pollutants in stormwater, as well as requiring that the stormwater has little to no soil or sediment in it.

While less pollution is a fantastic idea, NAHB says something is missing – such as understanding soil differences. Certain types of soil absorb water better, reducing the amount of run off, while other types of soil produce a naturally high amount of sediment. The cost for homebuilders to meet these regulations can be expensive – an expense that will be passed on to those looking for newly built Alexandria VA homes for sale.

The EPA has done some wonderful things for environmental protection, such as the Clean Air Act (CAA) and the Resource Conservation and Recovery Act (RCRA), that already affect construction costs. However, for newly built Alexandria VA homes for sale, this new stormwater requirement may end up not only being impossible to keep but impossible to pay for.

If you’re looking for new home construction that meets all necessary requirements, I can help. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

If you’re thinking about buying one of the condos in Arlington VA, it’s imperative that you know what you’re getting into, and how the past year has changed things. The rules and regulations for condominium mortgages have changed a lot in 2009…

In April, the two government-run mortgage companies, Fannie Mae and Freddie Mac, tightened their guidelines for those looking to own a condo in Arlington VA or any multi-family home. The restrictions make it harder for potential buyers to get financed through Fannie Mae and Freddie Mac, which makes a mortgage more expensive.

The April policy requires that the condominium association and operations be evaluated, as well as your credit qualifications. The new requirements touch on subjects such as:

• The association’s insurance
• Financial statements
• Status of dues receivable from those living in the condo
• Who owns what units
• How many units are empty

If the condominium you’re looking at doesn’t come back with a good report, you may have to go to a private mortgage insurer. Unfortunately, private insurers are becoming even pickier; some have quit covering condo mortgages all together. To be able to get a loan, even with good credit, you may end up paying as much as 40% down to get mortgage payments you can afford.

Even if the condo is approved, however, you’ll still need to come up with 25% or try government financing. Fannie Mae and Freddie Mac say it doesn’t matter what your credit score is. If you can’t pay 25% or more in the down payment, you’ll end up with a three-quarter point add-on penalty - $750 for every $100,000 borrowed. What’s the penalty for? Not buying a “traditional,” single-family home.

What’s the moral of the story? If you want to buy one of the condos in Arlington VA, spend more time researching than you normally might. Look for those that have at least a 50% occupancy rate. Find out if the occupants pay their dues, and if one person owns more than 10% (a big “no deal” for the two mortgage companies). Good condos are out there and available, but the rules make buying a hard game to play.

If you’re looking for a great condo that qualifies for Fannie Mae/Freddie Mac financing, I can help. Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

2009 was a rough stretch for many sellers and buyers of Fairfax County VA homes for sale, but new reports hint at possible stabilization in the housing market that may prove beneficial for everyone. As 2009 rolled to a close and 2010 opened into a new year, economic and real estate reports poured out good news, but bad news wasn’t far behind. For each positive note, there is always that unavoidable “but”:

• Mortgage rates are holding steady below 5%, thanks to government intervention. Thanks to the low rates, more people are buying and refinancing. However, the downside is that banks are more reluctant to refinance or loan. This leaves many, who want to buy one of the Fairfax County VA homes for sale, with the inability to do so. Ironic that, in a buyer’s market, it’s the banks with all the selling power.
• The other “but” is that the Federal Reserve program providing the low mortgage rates is set to expire in March. Rates could very well double shortly after, which is highly likely to drop the number of interested buyers. A drop in buyer numbers will only further shift the supply/demand ratio.
• As of December 10, 2009, the number of foreclosures in a month had dropped 16%, nationwide. The home buyer tax credit expansion, foreclosure prevention programs and loan modification programs have helped, as well as state mandated financing programs. As great as that is, there were still over 300,000 foreclosures in November, 2009, which is 18% higher than November, 2008.
• Home prices are “firming,” showing improvement over five consecutive months. Although the rise is considered mild, fewer homeowners are underwater, where they owe more mortgage than their house is worth. Because housing prices are improving, home sellers are more confident in the listing prices they’ve set.
• Many – who are currently unemployed – have ARM mortgages that will be resetting shortly. While they can afford their current mortgages, many won’t be able to afford a higher one. This could bring another round of foreclosures and another drop in housing prices.

What does all this mean for sellers and buyers of Fairfax County VA homes for sale? As Ben Franklin put it, “nothing in this world is certain, except death and taxes.” However, there is also the famous “nothing ventured, nothing gained.” 2010 could be rocky, but, if you’re careful and do your research, you’ll find smooth sailing ahead.

If you’re trying to buy or sell a home, I can help. Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

If you’ve recently applied for credit to finance a Fairfax County Virginia real estate purchase, and were declined, you might be wondering why a lender would deny you credit.  Most lenders have a checklist of qualifications necessary to get approval for a home loan, and some don’t have anything to do with what your credit score is.  Here are the basic reasons a lender may deny a mortgage loan:

• Little or no credit.  You may be under the mistaken impression that no credit is better than bad credit, but you’d be wrong.  A blank credit history is not something a mortgage lender wants to see.  A lender needs some idea of how you make payments.  You can build your credit history by getting a department store credit card, and only using thirty percent of your available credit to make a purchase.  Making regular payments will soon add up to good credit, and lenders will look more favorably at your loan application.
• Bad Credit.  It’ll be difficult to find a lender that will approve a person with bad credit.  It’s not the end of the road.  You can improve your credit score with a little hard work and still buy that Fairfax County Virginia real estate you want.  You’ll want to get a copy of your credit report from all three of the major credit bureaus.  If you have frequent late charges or many items in collections, you’ll need to call each company and arrange to get your accounts current.  You’ll be surprised at the difference each timely payment makes on your credit score.
• Credit-to-Debt Ratio.  Most mortgage lenders will decline a loan application if your credit to debt ratio is too high.  The ratio is figured by dividing the amount of credit available to you by the amount that you are actually using.  Using all or a high percentage of the credit available to you may leave the impression that you are short on money and will have trouble making loan payments.

Let me help you get on the road to a Fairfax County Virginia real estate loan.  Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939