Fairfax County VA Home Search Website Blog

As you are looking for the ideal home for you and your family, you may find yourself trying to decide between two similar homes. You could have worse problems than this on your home search, but how do you decide which one of the Fairfax County VA homes for sale is better for you and your family?

Here are primary points to consider:

1. Location. This is where you are going to live. You need to consider how far away the Fairfax County VA home for sale is from work, schools, and shopping. You probably want to do as little driving as possible. A home close to where you will be spending your time away from home may be the better choice for you.

2. Home repairs. What will you need to do to the home once you move in? Think about the time and money you will have to invest in the home before making your decision. A home in slightly better shape may be the better option for you so you can concentrate on getting settled in your new home after moving in.

3. Age of appliances. This can make a big difference in your choice. Do you really want to have to replace the appliances soon after you move in? Your might be better choosing a home with newer appliances.

4. Hobbies. Is there a car lover or avid crafter in your family? Look at which home has the most to offer these people. Perhaps one garage has been expanded or has built-in work benches. Maybe a closet already has a space to organize craft supplies.  

Let me help you find the Fairfax County VA home for sale that best fits your lifestyle. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

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

Many potential homeowners are starting to look towards foreclosures in Fairfax County VA as a way to get the home of their dreams without spending their life savings. What they may not realize is that the sheer amount of foreclosed properties can be daunting. Some are so completely overwhelmed by the choices that they give up and walk away.

Foreclosures in Fairfax County VA can be great deals, but you’ll have a few decisions to make before you even go looking. Because there are so many options, here and throughout the nation, it’s important to figure out what type of foreclosed home is best for you.

Government Foreclosures
Homes with federally sponsored loans, such as HUD homes, are repossessed by government housing agencies. Because these homes offer a lot of opportunities for discount purchases, they move quickly.

Foreclosure Auctions
One of the most common ways to buy a foreclosure is while it’s on the chopping block of a traditional real estate auction. The auction is public, with homes sold to the highest bidder.

REO Foreclosures
Repossessed by the bank, real estate owned properties have been through a foreclosure auction without being bought. There’s not necessarily anything wrong with the home itself.  In fact, many foreclosure auctions fail to sell the home.  The primary reason foreclosure auctions do not succeed is that the auction price is more than what the property is worth. When the auction does fail, ownership reverts to the bank and the home becomes an REO.

REO foreclosures also have auctions, but the bidding process is closed and blind – no haggling allowed. You look over the available properties and come up with an offer to buy the home directly from the bank, rather than competing with other buyers in a public sale.

The good thing with REO foreclosures is that you can also set up the financing and mortgaging options through the same bank. Often, this gives the bank encouragement to give you a better price for the home.

Whether you’re looking at foreclosures in Fairfax County VA for investment opportunities, or to buy your dream home, you have a myriad of options. Knowing what you want – before you start looking – is one of the best ways to ensure you get the deal of a lifetime!

If you’re unsure which type of foreclosed home is best for you, or if you want help finding a great deal on a foreclosure, 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

The news is everywhere – and it’s good! Those who own or want to own one of the Alexandria VA home for sale can take a deep breath.  Home equity is on the rise, according to a recent study by Zillow.com, an online real estate valuation researcher.  And, Federal Reserve economists agree. Although home equity isn’t what it was three years ago, it’s on the rise.

The Fed’s most recent “flow of funds” survey indicates that the net equity of national homeowners grew by almost $1 trillion over the first three quarters of 2009, and rose further by $418 billion between June and September of last year. Compared to before the bubble popped, that’s really not that impressive. However, after three straight years of steadily dropping equities, it could signify the long awaited end of the housing crash.

In the housing markets of several cities, negative home equity is dropping; Los Angeles, San Francisco, Miami and Seattle are just a few examples. Good news for those with Alexandria homes, but even better news for some of the hardest hit cities, such as Phoenix, AZ, and Fort Myers, FL.

This is the best news yet for those trying to sell their homes, especially with most residential real estate markets‘ busiest season coming up. Rising home equity means the high possibility of more interested buyers. As well, a few things have been happening over the past couple of months that just might be the beginning of a run on housing sales:

• Median home prices are rising slowly but surely; potential homebuyers looking for Alexandria VA homes for sale are getting a little more serious. Rather than wait for a cheaper house, they’re starting to realize that it might not get any cheaper.
• The housing supply is shrinking. At the peak, we had 11 months worth of back supply. By the end of 2009, we were down to 7.2.
• 30 year fixed mortgages dropped to the lowest point of 4.95% (median), and are now slowly on the rise. Buyers waiting for lower mortgage rates – just like those waiting for lower housing prices – are getting serious about buying now.

Last and most importantly, consumer confidence is growing – something we badly need to get the economy on track.

What’s the moral of the story? If your house is one of the Alexandria VA homes for sale and you’ve been sick with worry that it might not get taken off the block, take a deep breath. Things are getting better and, if you hang in there, may end up better than you hoped.

If you’re trying 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

Okay, it never happened; when the Academy Awards were handed out, obviously, none went to one of the Alexandria VA homes for sale – but the Academy Awards are still relevant. Bear with me a moment.

When someone wins an Academy Award, don’t we expect more from him or her in the future? Why? Because the Award defines their abilities in some way, and here is where they’re relevant to your Alexandria VA home for sale. Just like the Awards, our homes seem to define us in some strange way.

Think about it. When you see a large home with manicured lawns, lighted pathways and a pool, don’t you automatically assume the owners have money? They’ve won the “dream home” award.

Likewise, if you see a home with a scraggly lawn and a bad paint job, you may assume the opposite. In other words, it doesn’t automatically occur to us that the people with the manicured home may just be good at money management or that the owners of the scraggly lawn home may make plenty of money but not manage it well.

We, as human beings, are good at judging a book by its cover. We assume certain things based on what we see, not reality. So what does the home you’re selling say about you? What will it say about the buyer? Would it win the dream home award?

Looking At Your Home with New Eyes
When preparing your home to sell, it’s important to look at the home you’ve lived in for years with new eyes.  Because you’re used to the cracks in the sidewalk, peeling paint or missing shingles, you probably don’t even notice it any more.

Potential buyers, however, are looking for Academy Award winners. Little things, such as unwashed windows, really can make all the difference. Trees with dead branches, lawns that haven’t been mowed, numbers falling off of mailboxes – all of these things may seem small, but they can quickly lose a sale.

Buyers see the outside of a Alexandria VA home for sale and have certain expectations of what the inside will look like. If the inside and outside don’t match, you have work to do. Don’t let the home you’re selling wallow on the market. If it’s been sitting on the selling block for months without a peep, it’s time to see what you can do about turning it into a dream home award winner!

If you’re 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

A short sale happens when a lender agrees to accept less than the balance remaining on a home or condo in Arlington VA. It is a way for sellers to avoid foreclosure and sell their homes.

It seems like a good idea for people who owe more on their home than it’s worth, but that doesn’t mean it is right for everyone. Should you consider a short sale on your home?

Pros to doing a short sale: 

• You will be able to sell your property, get out from under a mortgage you cannot afford and lower your debt.
• You can still sell your property in a declining real estate market, even if you owe more than the home is worth.
• Buyers sometimes get good deals on the property or may be able to buy a home at market value in a popular area they couldn’t previously afford.
• While a short sale isn’t ideal, it is typically better than a foreclosure which stays on your credit report for 10 years.
• If your home or condo in Arlington VA goes into foreclosure and is sold at auction for less than the mortgage, you can still be held responsible for making up the difference.

Cons to doing a short sale:

• The lender may refuse to do the short sale, or they may still hold you responsible for the remaining debt.
• The bank’s loss is considered taxable income for you, and you may have to pay taxes on the amount.
• Short sales do stay on your credit report and may make it difficult for you to a get loan in the future.
• You may have to find a real estate agent willing to work for a smaller commission.
• Short sales take longer to close than traditional home sales.

I can help you decide if a short sale on your home or condo in Arlington VA is right for you. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information about your selling options.

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

If you’re thinking of buying Fairfax County Virginia real estate, now is the time to take advantage of this buyer’s market.

Back in the “good old days,” (a few years ago) it was easier to qualify for a loan, with one-page loan applications, stated incomes and “no doc” (no documentation, meaning nothing had to be proven) loans. There were amazing loan programs, like 125% loan on the purchase price with no down payment.

Now, buying Fairfax County Virginia real estate is more burdensome. No more “no doc” loans; lenders want every piece of documentation you can come up with. So then, why is it the best time to buy? And what does this have to do with your real estate team?

Although the current loan situation isn’t ideal, it’s worth the effort to find a home you can afford. Here are two reasons:

• First time homebuyers tax credit – this is a big one. If you can get into escrow by April 30 and close by the end of June, you can qualify for the $8,000 ($6,500 for existing homeowners) federal incentive.
• Mortgage rates – It might be hard to get a loan, but it isn’t hard to get a loan with low interest rates. Unbelievably, many are still waiting, hoping the mortgage rates will go down further. Stop waiting for that to happen.  It’s not going to be long before they’ll be going back up – not down.

This doesn’t include the incredibly low prices for many homes, as well as the huge housing supply. “Slim pickings” doesn’t apply to our current housing market.

With all these incredible opportunities, it makes sense that your team – the people who represent you – knows what they’re doing. In this day and age, your dream team doesn’t just need knowledge; they need experience.

At a minimum, your dream team should consist of:

• Your real estate agent who needs to be able to guide you to the best housing opportunity available for your area.
• Your lender (who is actually supposed to be helping you) who should be able to build a loan package that fits your specific needs and budget. As well, that loan package must stay within the lender’s guidelines to make sure your loan application is successful.

The more you know – and the more your team knows – the better the chance you have of buying the home of your dreams, at a price you can afford, with a low interest rate, before the April 30 deadline. By July, you could be sitting pretty with your own piece of Fairfax County Virginia real estate and a cool $8,000 in your bank account!

Putting together your dream team?  I’d be honored to have the chance to interview for the position of your knowledgeable, experienced real estate agent.  Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com today.

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

You probably will not be surprised to hear that in 2009, on the average, new-home buyers purchased smaller Alexandria VA homes for sale.  

To be exact, the National Association of Home Builders (NAHB) released information showing that the average size of a new home decreased by 40 square feet, from 2,520 square feet in 2008 to 2,480 square feet in 2009.  While 40 square feet may not sound like a lot, it is significant because it’s been 27 years since the average home size fell by that much.

Are You Missing a Bathroom?
This decline in square footage is also noteworthy because 40 square feet is about the size of an average bathroom.  Interestingly, NAHB’s statistics revealed that the number of homes with 3 or more bathrooms fell in 2009, for the first time since 1992.

What’s Fueling this Shrinkage?
There are 4 primary reasons the sizes of new Alexandria VA homes for sale are declining:

1. The recession.  People are reconsidering how much home they really need and are looking for ways to save money.  Results of a 2009 survey by Better Homes and Gardens magazine, showed that downsizing is a bigger priority.  Thirty-six percent of homeowners surveyed said they expected their next home to be “somewhat smaller” or “much smaller” than their current home.
2. The small-house movement.  This movement has been gaining steam in the United States for a number of years.  The recession accelerated it and home builders responded by building smaller homes.
3. The prominence of first-time buyers in the housing market.  This is being stimulated by the $8,000 first-time homebuyer tax credit. 
4. The increasing number of households with members 55 and older who are buying homes.  Folks over 55 prefer to purchase single-story homes, which tend to be smaller than two-story homes.

Considering one of the smaller Alexandria VA homes for sale? 
If you’re thinking of downsizing, I can help.  Call me now 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

In Rules for Rehabbing Fairfax County Virginia Real Estate, Part 1, you received the first five rules for rehabbing. Now, let’s go more in depth about how to rehab a home with the final six rules:

1. Check out the neighborhood. Before you do any work to the property, walk through the neighborhood and take note of the property exteriors. What kind of landscaping do they have? Which colors do you see on the front doors? What type of siding do most of the homes have?  There is no point in spending extra money for amenities the other homes don’t have.
2. Start with the exterior. If you begin your work on the outside, you will already create interest in people watching you work. This also tends to be relatively simple work. Trim the shrubs. Replace dead plants. Weed the flower beds. Paint the home’s exterior and window trim.
3. Tackle the interior. You have two options for working inside: complete specific tasks throughout the entire home or work in individual rooms. Some people like to see the progress of completing a room; others like to see entire tasks, like painting, done at one time. No matter what you choose to do, start by removing the carpet. Take down switch plates. Remove the interior doors. Repair the walls. Fill in nail holes. Paint everything in neutral earth tones.
4. Update kitchens and bathrooms. Check the plumbing. If you need to, install a new toilet, sink, or bathtub. Replace the fixtures and hardware. Replace or paint the cabinets. Go ahead and install new counter tops. They are worth the minor cost.
5. Replace or repair floors. After the painting and installation is finished, start working on the floors. Hire a professional to install new carpet and padding. Replace or repair any other floors that are in need of work.
6. Sell it. You can either move in to the home or put it on the market. If you sell the home, calculate your costs and check with a Fairfax County Virginia real estate agent about the home’s market value. Begin advertising it for sale. Hire a real estate agent to help bring buyers to the home.

Rehabbing a home is a great way to create the ideal home for you or to make money as a real estate investor. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more tips on rehabbing your Fairfax County Virginia real estate.

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

If you watch television home improvement shows, you’ve surely seen shows about rehabbing homes. When you buy Fairfax County Virginia real estate that needs repairs, you can get it for a great price and build instant equity once the work is complete. Whether you decide to live in the rehabbed home or sell it, you’ve gotten a good deal.

Here are the first five rules for rehabbing Fairfax County Virginia real estate: 

1. Buy low. The good news is that homes needing work usually already have discounted prices. You want to buy the home for as little as possible because you are going to have to spend more money rehabbing the home.
2. Have a budget. You need to know before you begin the project exactly how much money you have to spend. Include the cost of the house, labor costs, permits, and the price of materials. Don’t leave out anything, and do everything in your power to stick to the budget you set.
3. Take good notes. Walk through the home with at least a flashlight and a way to write down notes. Count the number of windows, doors, and rooms. Write down anything you see that will need to be replaced or repaired, including flooring, walls and ceilings. Include anything that seems out of the ordinary to you. These notes will help you plan your rehab.
4. Be realistic. Many buyers underestimate the amount of time and money it will take to rehab a home. Round your expected costs up to the nearest $5000. Set aside part of your budget for problems that may arise during the rehab. You never know when a wall is hiding a structural defect that you will have to repair. Keep your timeline flexible.
5. Hire professionals. You will be able to do some of the work yourself, but you will need professional help for some of the work. Find a good plumber, electrician, carpenter, and roofer. Negotiate prices with them and never pay them for all the work until the job is completed.

Are you looking for Fairfax County VA homes to rehab?  I can help.  Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information about rehabbing Fairfax County Virginia real estate.

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

Even though it may sometimes seem like it, home building and design trends are not conjured up using a crystal ball.  They are the result of surveys, observations, lifestyles, socioeconomic issues, entertainment, technology, and most importantly, the needs and desires of buyers.

Here are some of the trends for national and Alexandria VA homes for sale to expect in 2010.

Green is growing. 
A study conducted by Burst Media in late December, 2009, found that 90 percent of Web users surveyed have incorporated some aspect of going green into their lives, and overall, they are willing to pay a premium for environmentally friendly products. 

Homes are getting smaller.
For 2010, home builders say they will focus on lower-priced and smaller homes. More than 95 percent of home builders surveyed by the National Association of Home Builders (NAHB) in January said that was the way they saw their businesses evolving.

Single-story homes are in.
Because of the rise in homebuyers who are 55 years of age and older, more single-story Alexandria VA homes for sale are being purchased.  According to NAHB, barely over half of new homes today are built with two stories or more. Two-story homes peaked at about 55 percent of the market in 2006.

Lower cost, more practical homes are being purchased.
In an attempt to respond to consumer demands for practicality, as well as hold the line on prices, home builders surveyed by NAHB are most likely to include these features as standard in their houses this year:

• Walk-in closets in the master bedroom
• Laundry rooms
• Insulated front doors
• Great rooms
• Energy-efficient windows 
• Linen closets
• Programmable thermostats
• Energy-efficient appliances and lighting
• Separate shower and tub in master bathrooms
• Nine-foot ceilings on the first floor

Here are the features builders said they are least likely to add to houses in 2010.  You’ll notice a lot of the items being eliminated are luxury features, as builders try to lower costs.  

• Outdoor kitchens
• Outdoor fireplaces
• Sunrooms
• Butler’s pantries
• Media rooms
• Desks in kitchens
• Two-story foyers
• Multiple shower heads in the master bath
• Smaller kitchens

Want to buy one of the new Alexandria VA homes for sale in 2010?  Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com to get started.

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