Fairfax County VA Home Search Website Blog

Although the housing market has had its fair share of ups and downs, many home buyers, particularly first-time home buyers, are reaping the benefits. If you’re thinking about purchasing one of the Alexandria VA homes for sale, there are many good reasons to make your move today.  Here are six of them:

1. Low interest rates – Right now, interest rates are lower than ever before. This means you can get an extremely affordable loan and save big on interest payments. 
2. Cheaper home prices – Not only are interest rates low, but homes all around are cheaper. Since the market is packed with homes for sale, selling has become harder. As a result, prices have fallen significantly, allowing you to get a more expensive home for less money.
3. Potential tax credits – As a first-time buyer, you could be eligible for thousands of dollars in tax credits. Best of all, you do not have to pay it back, as opposed to previous years.
4. Less competition – Many people no longer have the money to purchase homes, so fewer people are visiting model homes and open houses. This is great news for you.  If you’re ready to buy one of the Alexandria VA homes for sale, you don’t have to worry about floods of people bidding up the price on the property.
5. Huge inventory – With new homes constantly being built, not to mention an array of existing homes, you can take your pick from a wide variety of available properties.
6. Big bargaining power – Because so many people are trying to sell their homes, they’re more willing to be flexible. As a buyer, you could greatly benefit and may be able to save on closing costs,  upgrades, repairs and more.  Work with a skilled real estate agent who can negotiate a great contract for you.

If you have the funds to step out and purchase one of the many Alexandria VA homes for sale, now is the best time to take advantage of all the possibilities.  I’m ready, willing and able to negotiate the best price and terms for you. 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

You’ve finally decided you want to buy one of the Fairfax County VA homes for sale. What do you do now?  Here are a few tips for getting the best deal for your money:

Check Out Your Credit

The first thing you’ll want to do is order a copy of your FREE annual credit report from the three major credit bureaus:  Experian, TransUnion, and Equifax.  Look for inaccuracies in:

• Name
• Address
• Creditors
• Late payments
• Delinquencies

After you’ve reviewed your credit report and know your credit score, you’re ready to make improvements to your report, if your credit score is too low.  Send a written “Notice of Correction” to the credit bureaus.  It can be up to 200 words.  If needed, you can explain why you fell behind on a particular debt, and every time a lender accesses the report, they’ll see your explanation.

It can take several months to for your credit score to go up.  However, it’s well worth the effort to get a better interest rate.  It can save you thousands when buying one of the Fairfax County VA homes for sale.

Get Pre-approved

Before you start looking at properties, it’s a good idea to get a pre-approval letter from a lender.  The lender takes into consideration your income and credit history.  Then the lender determines the loan amount for which you qualify.

Most pre-approval letters list the maximum amount for which you are approved, not necessarily the amount you can afford.  Look carefully at your budget so that you don’t get too excited about the number and get into more house than you can afford.
 
There are several benefits to getting pre-approved.  It allows you and your Fairfax County Virginia real estate agent to narrow down the house search.  That way you won’t waste time seeing properties you can’t afford.  Also, sellers will give your bid more weight if you’re pre-approved.

Are you a first-time buyer? You have just made a fabulous decision for your future.  You’ll find tons of great buys when looking for Fairfax County VA homes for sale. I’m a specialist in this community and would love to help you buy the home of your dreams.  Call me now 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

Making an offer on a piece of property is nerve wracking; especially if your offer is a little (or a lot) lower than the asking price. You can make your offer more appealing with a few simple additions that are good ways to cinch a Fairfax County Virginia real estate deal.

Get Approved

It’s easy to add a contingency to a bid that the offer is only valid when you get financing.  But that means you’re keeping the seller waiting on pins and needles to find out if you qualify for financing. If your offer is low, the seller may be unwilling to accept the double whammy of a financial contingency and a low offer. Getting pre-approved for a loan is a much better incentive for a seller to accept a lower offer.

Increase Your Earnest Money

A larger amount of earnest money makes you seem more serious about purchasing the home.

KISS (Keep It Simple Silly)

A low bid with a lot of little requests or contingencies that complicate it will hurt your chances. Don’t ask for drapes or appliances that were not originally offered by the seller.  And, don’t ask for minor repair work that you can easily and inexpensively take care of yourself.

Write a Letter

Write a letter to the sellers telling them what you like about the home and why it’s perfect for you and your family. It might sound trivial, but offers are often accepted just because the sellers like a buyer.

Let the Sellers Choose the Closing Date

Tell the sellers the closing date is negotiable. Do they need 60 days instead of 30?  Let them have it.  Do they need a few days to move out after closing? Give it to them.

Ready to purchase a home?  I’ll be happy to send you a FREE book or CD for buyers, “What You Should Know Before Buying A Home.”

Let me help you construct an offer that gets you a great price and cinches the deal. Contact me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com now to get started today!

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

The housing plan included in President Obama’s stimulus package has many good qualities that will help those seeking Fairfax County VA homes for sale.

There are two main points to the housing plan:

1. To help people once again obtain reasonable mortgages to afford the home of their dreams.
2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures. 

That’s really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package  is simple.

For Current Homeowners

If you have a current mortgage that you can’t handle, now is the time to talk to your mortgage company. Don’t wait too long because some of the detailed elements of Obama’s housing plan are meant to be short-term in their offer so as not to over-tax the budget. While you have the chance, see if your mortgage can be reduced to reflect current home values. That can provide you with the equity you would have already built up but lost due to a drop in housing values.  It will also lower your monthly mortgage to a manageable level.

For New Home Buyers

This is your market now. Fairfax County VA homes for sale prices are much lower which gives you a chance to buy a home you might not have been able to afford before.  President Obama’s housing plan provides tax incentives for you. However, just like with current homeowners, the time to do this is now. Because of the stimulus to the Fairfax County Virginia real estate market, housing values are not going to stay as low as they currently are. Also, many of the incentives like the tax credits are valid for a very limited time.

Don’t wait any longer to become a home owner.  If you’re ready to take advantage of the stimulus package benefits by buying a home, I can help. Call me now 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

It can happen to even the best Alexandria VA homes for sale. Your home has great curb appeal and the interior shows well. So, why isn’t it selling? 

Even if your home is the best home in the neighborhood, it can still end up languishing on the market  as others around it sell. So, what can you do to get your home sold?

Check Your Price

Being over priced, even by a relatively small amount, is the most common reason homes don’t sell.  The wrong price can prevent potential buyers from even looking at your home.  Keep your emotions out of the calculations.  Of course, you love your home and think it’s very valuable.  But, you need to look at it as an impartial outsider.  Examine the facts and figures presented by your Alexandria Virginia real estate agent, and take his or her expert advice.  Price isn’t the only factor to consider.

Picture It

Homes marketed with only one or two photos are passed by. The more photos the better, but any old photos won’t do.  You need quality photos.  Consider hiring a professional real estate photographer, or work with a real estate agent who will get professional photographs for you. 

Promote It Online

These days almost 80% of all buyers start their home search online.  Make sure your home is marketed on multiple websites to get the broadest possible exposure.  In addition to using multiple photos as mentioned above, a great online marketing tool is a virtual tour.  Ask your agent to create a professional virtual tour for your home.

Market it Everywhere

Advertise your home in as many ways and as many places as possible.  Here are a few ideas:

1. Colorful flyers
2. Home magazine ads
3. Postcard mailings
4. Emails to other agents and potential buyers

Are you trying to sell one of the Alexandria VA homes for sale and not having much luck?  If you would like more information on how to get a stagnant home moving, give me a call 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

Selling your property, whether it is a primary home or income property, is easier if you have the information your buyers are likely to want to know on hand. Type up an info sheet answering the most commonly asked questions buyers have when looking at homes and condos in Arlington VA for sale such as:

• How old is the roof?
• What comes with the property?  Window treatments? Do all of the appliances come with the property?
• How old are the appliances?  Be sure and list all updated appliances and have warranties handy.
• Does the basement leak?
• Where are the hot water heater, the electrical service panel, and other important maintenance items located? Are they easy to access?
• What is the age and condition of the plumbing and wiring?
• Are you open to owner financing?
• Are there schools nearby?
• What is the average utility cost per month/year?
• Have you had any major problems in the past? Your normal seller’s disclosure does not require you to list problems you had and have fixed. Some sellers would like to know what those problems were. It can give them an idea if they are likely to be a recurring problem (like flood damage) or if the fact that you already had the issue and fixed it they will not likely have to deal with that particular problem in the future.

Of course, you should always have general information about your home or condos in Arlington VA available for buyers to review.  Be sure and include items such as square footage of the building, property size, zoning and any restrictions or easements.

Having all of the information on hand will prove to potential buyers that you’re serious, that you’re prepared to be upfront with them about any issues your home may have, and that you’ve taken excellent care of your property.

Do you own one of the homes or condos in Arlington VA?  I specialize in selling real estate in your area quickly and at the highest price. If you’re considering selling your Arlington Virginia real estate, I would love to send you an informative CD designed for Sellers. 

Find out more about my marketing plan by calling me today at 703-909-3939 or emailing me at Steve@HomeSearchWebsite.com.

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

There are several important criteria to consider when buying Fairfax County Virginia real estate for investment. Some of the items will vary depending on the reason you are buying and the type of investment you are looking to make.

Long term investments such as rental properties can take longer to pay off but the income is consistent.  Short term investments such as buying for quick flips may pay off larger but can be a less regular form of income.

When buying a home for either long or short term real estate investments, it is very important to know exactly what your costs will be compared to potential income. That should be your primary deciding factor when buying investment properties. 

Short Term Fairfax County Virginia Real Estate Investments

When you are looking at short term investments like re-sales and flipping, the potential profit needs to be larger to cover both the inconsistent nature of that type of investment and the slightly larger risk. Fairfax County Virginia real estate purchased for short term investment also needs to be very appealing to ensure quick turnover. Languishing on the market once you have relisted it eats away at your profits.

Vacant Land as Real Estate Investment

Another type of investment property is vacant land you can subdivide and resell, or develop on your own. If you’re considering that type of real estate venture, know that it requires quite a bit of homework.

• You will need to check out the zoning laws to be sure your plans are allowable without going through the hassle and possible failure of rezoning. 
• You also need to pay close attention to the initial and long term costs associated with developing your vacant land.
• You need to know exactly what is possible such as how many units can be placed on a given parcel to be sure the property can accommodate the number of resale units you require in order to make a profit.

Want to receive listings as soon as they hit the MLS?  Sign up now and receive listing via e-mail. If you would like more information on investing in real estate, give me a call now 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

Buying REOs is a very popular method of buying Fairfax County Virginia real estate for investment.  If you’re just getting started accumulating investment property, this is one way you can get very good deals and amass a great deal of property quickly.

REO stands for Real Estate Owned and is the acronym banks place on properties they have taken back from mortgage defaults. REOs are considered non-performing assets meaning they have value but are not bringing in any money—bad for the bank, good for you.

Buy REOs at Foreclosure Auctions

Foreclosure auctions are a great way to get fantastic deals that you might not be able to convince a bank to go with prior to the event. Some savvy investors try to catch properties while they are in pre-foreclosure  which avoids a property being bid up in an auction atmosphere.  To do that, you often have to convince the holding bank to “short sale” a property and sell it for less than the note they were holding on it. At a foreclosure auction, the bank is usually desperate to unload the Fairfax County Virginia real estate and often will settle for far less than the actual value without all of the short sale paperwork.

Do Your Homework

If you choose to buy properties at auction do your homework. Use foreclosure worksheets to determine the true value of a property and what your maximum bid should be in order to realize a profit from its eventual sale or use as a rental. Doing this prevents you from getting caught up in the moment and over-bidding on a piece of Fairfax County Virginia real estate that has a lot of competitors bidding on it.

If you would like more information on how to acquire REO properties, I can help! Contact me at 703-909-3939 today or drop me an email at Steve@HomeSearchWebsite.com.

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

The new stimulus plan has given many people new hope for their housing futures. At first, many worried that the stimulus package would merely help the banks and other financial institutions and not the actual homeowner looking to buy one of the Alexandria VA homes for sale.  But, it has become clear that the people who really win with the new plan are those who count—prospective home buyers.

Stimulus for Banks and Buyers

The stimulus package provides huge tax rebates in 2009, and while that is a limited provision, the savings are enormous for those who get out there and buy new Alexandria VA homes for sale. The fact that the stimulus plan includes relief for the struggling financial industry also helps buyers by making it more likely they will be able to obtain loans. 

Stimulus for Luxury Properties

The stimulus package gives the two major government mortgage companies Fannie Mae and Freddie Mac more power and allows for larger loans for higher priced properties. That is a big incentive if you’re looking to buy in a major metropolitan area because you will now be able to get a loan secured by Fannie or Freddie.

The economic boost from the stimulus package will require a little time to really become apparent, but it is working, even now.  Slowly the market is rebounding and new home buyers are able to take advantage of loans and tax incentives while getting houses at prices that are extraordinarily low.

If you would like more information on how the stimulus package can help you buy one of the Alexandria VA homes for sale, give me a call 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