Fairfax County VA Home Search Website Blog

If your Alexandria VA home for sale isn’t selling, you’re probably wondering if you’re missing something. Well, here’s a list of things you might not know that could make all the difference:

1. If the location of your Alexandria VA home for sale isn’t great, the price and terms are the only thing that will sell it. Make them outstanding!

2. Attractive, competitive terms may help you get a higher price. For instance, if you’re allowing the option of owner financing, and also allow a smaller down payment (say, $20,000 – $30,000), you may be able to sell your house for a higher overall amount.

3. Because of the current high competition, your home has to be in the best condition at a competitive price. Check out the competition, accept that yours might need work, and get to it.

4. You can’t set a limit for home improvement. If your home needs something done to beat the competition and you can do it, do it! You aren’t just spending money; you’re investing in the sale of your home. Although you may not get all your money back, you just might get a quick sale at full value.

5. Staging – you’ve heard of it; tons of agents are talking about it. If you want to get your house sold, either invest in staging services or do your homework and stage the home yourself. It’s all about presentation.

6. Remember that you are no longer the host/hostess of the house. You are a business person, and your business is getting that house sold. Don’t let your emotions get in the way of a solid business deal.

Putting up your Alexandria VA home for sale is a daunting prospect. If it’s been up for a while, it can be an exercise in frustration. However, keep the above points in mind, listen to the experts and put what you learn to work for you.

If you’d like to get your home sold, 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

Do you have a competitive nature? Do you always have to have the last say? Do you always feel you have to win? If you have one of the Alexandria VA homes for sale, you may have “competed” yourself right out of a buyer. Please, read on to find out how NOT to make this mistake.

Who Calls the Shots?
You’ve probably heard “it’s a buyer’s market” many, many times already. With the number of people who have an Alexandria VA home for sale, this is something you can’t afford to ignore. This is especially true considering that the longer your house sits on the market the more it depreciates.

A competitive nature is all well and good, but, when dealing with potential buyers, you have to rein it in. Winning, in this case, is not getting the last word, but selling your home. As you enter into negotiations, keep in mind that the end goal is to sell.

Buyers know they have the market. While this doesn’t necessarily mean they’ll try to walk all over you, it does mean that they may try to negotiate:

• On price
• On closing date
• On inspection period
• On closing costs  
• On anything

Now, just because they’re trying to negotiate doesn’t mean they aren’t qualified buyers. You may have a very qualified potential buyer trying to negotiate with you.

Warning: at this point, your competitive nature may try to rise up and crush the negotiating potential buyer. Restrain yourself – strenuously if you have to.

While dealing with offers, counter offers and counter-counter offers, ask yourself if you’re being competitive, silly or surprisingly realistic. Are you turning down their offer because it isn’t an exact fit for you? Do you have a legitimate reason for the counter offer, or are you trying to “one-up?” Will a requested change really make that much difference to you?

Although I’m not suggesting that you take the first offer that comes along without looking at it, or that you take an offer that is less than you can afford to take, I am suggesting that you remember there are plenty of people with Alexandria VA homes for sale. As you look at the offers, keep this in mind. Shut down that competitive nature and remember that the only way you really win is when you sign the papers and hand over the keys.

Ready to get your home sold?  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

People have asked me about FSBO (For Sale By Owner).  They want to know whether it’s a good idea to use an agent and the answers to many other questions on this topic. I admit it; I’m biased. I am, after all, a Fairfax County Virginia real estate agent.

I’ll even go a bit farther and admit that I’m biased about my hometown. As far as I’m concerned, if you’re going to buy a house, you should use me as your agent and buy a house in this city. But then, that’s what most real estate agents will tell you.

Without the bias, however, there are some real issues with not using a Fairfax County Virginia real estate agent (or any agent, anywhere, for that matter).  And, there’s one BIG issue…

The Contract!
Okay, here’s the deal. A real estate contract, like any contract, is a sealed deal once the papers are signed. It’s legally binding and will be upheld in any court of law in the country, with few (and rare) exceptions.

If you don’t understand the contract you’ve signed, that’s too bad.  Lack of understanding does not constitute a dismissal of said contract. While some do manage to back out of a contract once it’s signed, to do so is expensive and stressful.

A wide variety of contracts can be borrowed from anywhere and have been. FSBO sites, as well as many other online sites and offline brick and mortar businesses, have “sell your house” contracts. For that matter, a contract written up by the owner, signed by the buyer with a notary stamp, without any legal representation on either part, is still legally binding:

I, the undersigned, am selling my house to the buyer for the agreed upon amount of money.

Buyer
Seller
Notary

A real estate agent will generally use a standard contract through your state’s Association of REALTORS® or their particular brokerage. What’s the difference, you ask? Quite a lot, but the biggest is that the contracts that agents use are created to fit the laws of each state. In addition, these contracts are not prejudiced towards the buyer or the seller.

Lastly, the buying and selling of real estate is full of potential issues and is a long, involved process. Call me proud and tell me I’m bragging if you want, but I’m good at what I do as a Fairfax County Virginia real estate agent. It’s not something I think everyone can (or should) do.

So, if you’re considering going FSBO, take a second gander at this particular article and think hard. We’re not all evil; quite a few great agents out there sincerely want to help you meet your goals of buying or selling a home.

If you’re looking for someone to guide you through the pitfalls, I’d be honored to 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

It’s that time of year again, when the temperatures fall and you own Fairfax County Virginia real estate, the costs of heating your home go up.  Do you worry about the increasing cost of heating oil and the rise in energy prices?  Then you may want to try these suggestions for saving on your home’s heating costs:

• Check all your home’s air vents to see that they are clean and free from any blockages.  Replace your furnace filters to keep the system running efficiently.
• Weather seal your home.  Look around all the door and window frames on your house for obvious gaps and spaces that could let cold air into your house.  Fill in the gaps with a silicone caulking, sold at all hardware stores.  For high traffic areas like the doorway, you may want to apply a vinyl or metal weather-stripping to help block the cold.
• Set your thermostat lower.  Find the lowest setting that will keep you warm and leave it there.  Keeping your thermostat at a consistent temperature helps avoid unnecessary energy losses from changing temperatures. 
• Keep a sweater handy.  Don’t underestimate the savings wearing a sweater around the house could net you.  You could lower your heating costs significantly with each degree of difference.  Using an extra comforter at night can lower your nighttime heating costs.
• Use a space heater for the rooms you are in the most.  A space heater is a good way to keep small areas warm without running up your bill by heating the whole house.  When using a space heater, it’s important to follow all the manufacturer’s safety guidelines and remember to turn the heater off when you leave the room.
• Add more insulation to your Fairfax County Virginia real estate home.  Traditional insulation can be messy and time-consuming to install.  You may find that the cost of hiring a professional to spray foam insulation into the walls and attic is worth the energy savings.  It may pay for itself after year or two. 

You’ll find it’s easy to save money on your home heating costs when you follow these suggestions.

Want to buy Fairfax County Virginia real estate that is a well-insulated, energy efficient 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

More festive candles are used in your condo in Arlington VA during the holidays than at any other time of year, so it’s important to review the safety rules.  Here are few tips to keep your condo safe:

Candle Placement Preparation
It may sound silly, but if you own one of the condos in Arlington VA, you need to prepare before you light that candle.  First figure out where you want to place the candle. 

• Find a heat resistant surface. 
• Make sure there aren’t any books, papers, curtains, or bedding nearby. 
• Watch out for flammable holiday decorations. 
• Keep the candle away from windows and vents, and check for signs of a draft. 
• Place the candle where children and pets can’t reach and where it isn’t likely to be bumped into.

Getting Ready to Light the Candle

• Before burning the candle, review the manufacturer’s instructions.  Most recommend that the wick be trimmed to ¼ inch before lighting. 
• Make sure to use only approved candle holders. Using an unapproved glass holder could cause it to burst and send glass everywhere. 
• Place candles at least three inches apart so the additional heat doesn’t cause them to melt improperly.

Burning the Candle
Now that the candle is lit, make sure to never leave it unattended.

• Watch the candle to see if it smokes or flickers a lot.  This could be a sign that the candle isn’t burning properly. 
• Leave about two inches of wax when you extinguish the candle.  Most manufacturers recommend that you don’t burn the candle all the way down. 

Putting the Candle Out Safely
The safest way to put out a candle is with a candle snuffer.  Don’t use your fingers or blow out the candle; the flame may travel and cause a fire.

• Never use water to put out a candle; the wax may splatter and burn you. 
• Wait until the wax is cooled before you move the candle.

Candles are a beautiful way to decorate for the holidays in your condo.  By following these simple safety suggestions, you can help to ensure that your holidays are happy and safe. 

If you’d like to be in one of the new condos in Arlington VA before the next holiday rolls around, 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

Government loans are in line for a record year as 2009 comes to a close, with FHA loans leading the way. In the wake of the subprime mortgage collapse, borrowers in Virginia and across the country are turning to these government-backed loans because of their safety and security. 

FHA loans are insured by the federal government, a guarantee that helps boost lending and often translates into competitive rates for qualified buyers.

Drawn by that security and the agency’s low down payments, borrowers across the country have flocked to FHA loans in the last 18 months. The Federal Housing Administration will wind up approving more than 1.67 million loans this year.

FHA loans come with a host of significant benefits. Down payments are as low as 3.5 percent, and buyers with less-than-perfect credit may still qualify for an FHA loan. Even borrowers with a history of bankruptcy or foreclosure may still be eligible based on the FHA’s lending requirements. 

Other benefits include:

• Competitive rates compared to conventional loans (within about .125 percent)
• Borrowers may qualify to finance most or all of their purchase.
• Borrower can roll the cost of private mortgage insurance (PMI) into the loan
• There are no financial penalties for loan pre-payment
• There are higher debt-to-income ratios than most conventional loans

FHA loans have long been a staple for first-time home buyers. The government’s $8,000 tax credit for first-time buyers is helping spur the surge in FHA loan applications. Qualified borrowers can use this “credit  extended through the spring of 2010″ to help cut down payment or closing costs.

Like other government loan programs, the FHA has a lending limit based on geography. Limits vary throughout Virginia and the DC metro area. For Fairfax County, the loan limits are: $729,750 for a one-family unit; $934,200 for a two-family; $1,129,250 for a three-family; and $1,403,400 for a four-family.

There are a lot of financing options to help you buy Fairfax County Virginia real estate, if you can meet the credit guidelines. 

Most lenders prefer to use 30-year mortgage loans.  With a longer loan term, the lender can collect more money in interest over the life of the loan.  For those who are credit-worthy, a 15-year mortgage term may be offered.  So, what is the difference between the two?  Here are a few guidelines:

What About a 30-Year Mortgage?
Thirty-year mortgages are becoming the normal term for Fairfax County Virginia real estate loans.  The payments are usually more affordable and lenders are quick to recommend them.  Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate. 

What Are The Benefits Of A 15-Year Mortgage? 
Signing up for a 15-year mortgage can save you a lot of money in interest payments.  True, your monthly payments will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it.
 
After just 16 years, you can start investing the money that you’re no longer spending on your mortgage into other real estate properties or investment opportunities.  You can build your investment portfolio with just the money you would’ve spent on your monthly mortgage payment.

What about Prepayments?
Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the 15-year loan.  By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to.  Before finalizing your decision, ask your lender if there are any penalties for making prepayments.

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan.  The interest on a loan may be halved by choosing a 15-year loan.

No matter how you choose to finance your Fairfax County Virginia real estate, I can help you find the home that meets your needs and budget.  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

Yesterday, I was driving through the city, wondering if a potential buyer was going to show up to look at some condos in Arlington VA I’m showing. I’d had a bad day; the car didn’t want to start, what I’d planned to wear was dirty, I’d run out of milk and so on, and so on. Needless to say, I wasn’t in the best of moods.

As I stopped at a light, grouching because the light would make me late, I happened to look over and see a woman with her daughter. The little girl had holes in her coat, a ragged hat, torn up shoes and a teddy bear missing an eye that she clutched as she smiled up at her worried mother – who had a “Please help” sign in her hands. As I drove on to show the condos in Arlington VA, and further throughout the day, that little girl’s smile stuck with me.

Last night, I came across a news broadcast about a family of five living in a one-room apartment after losing their house and I remembered that little girl. All of this comes down to one thing…

It’s coming up on Thanksgiving, people are searching turkey recipes, decorations are being pulled out… and the current problems in the world make it hard to find something to be grateful for. However, they’re there if you only look.

If you have a home and you’re trying to sell it, it’s understandable that you might be upset if it’s not moving. As hard as it may be, however, remember that at least you have a home to sell.

If you’re looking for a home to buy and you can’t afford the fancy one you wanted but you can afford a slightly smaller one, remember – at least you can afford something.

If you’re upset that your job isn’t paying enough, you’re working long hours or not enough, remember the millions that no longer have a job.

Whatever your problem that may be weighing you down when Thanksgiving rolls around, remember that it truly could be worse. It is worse, for so many people.

I’ll even start the list: I’m grateful for all of my clients. I’m grateful that I have homes and condos in Arlington VA to show and potential buyers that want to see them. For my readers, my friends, my family and my own home… Happy Thanksgiving, and may you always have something to be grateful for!

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

Are you thinking of buying one of the Fairfax County VA homes for sale? Owning a home can be a sign of independence and success.  It allows you to build up equity and the mortgage interest and property taxes are tax-deductible.  Can you afford it, though? 

Reputable lenders look at a list of criteria to decide how much they’ll loan you.  This list includes:

• Credit score
• Existing assets including cash
• Car leases or loans
• Credit card balances
• Debt consolidation loans
• Home equity loans
• Installment loans
• Student loans
• Other monthly debts
• Size/source of your down payment

If you’d like to get an idea of what you can afford before talking to a lender, here are a few tools you can use to decide whether buying one of the Fairfax County VA homes for sale is within your budget:

1)  As a rule of thumb, your house hunting budget shouldn’t be more than 2.5 times your pre-tax annual income.  If you earn $50,000 a year, your budget for house hunting should be around $125,000.

2)  Your Housing Expense Ratio, which is principal, interest, taxes and insurance (PITI) shouldn’t be more than 25% to 28% of your pre-tax monthly income.

3)  You’re Debt-to-Income Ratio should be no more than 36% of your pre-tax monthly income.  This is the ratio between how much you owe and how much you earn.

4)  Use an online calculator to figure how much home you can afford. 

“Qualifying for” and “can afford” are two different things.  Shopping for Fairfax County VA homes for sale that are within your budget will save you a lot of heartache now and in the future.

If you’d like help determining how much mortgage you can really afford, 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

You’ve reached that time in your life where you’re ready to buy one of the Alexandria VA homes for sale.  Even though the mortgage approval process can be intimidating, you can get yourself ready to apply for a loan.  These are the first steps to buying your home:

Make a List
First, make a list of your finances.  Include all your income, and factor in your normal monthly debts.  Miscellaneous bills, like your daily coffee or weekly magazine, should be listed too.  Write down everything that you spend each month.

Calculate what 28% of your income is.  Most loan officers recommend not spending more than 28% on your housing costs.  You may not want to take on a mortgage loan for the maximum amount offered without consulting your list to see what money is actually available for you to spend.

Decrease Your Debt 
Once you’ve have detailed your finances, it’s time to make a budget.  A good budget can help you eliminate wasteful spending which will allow you to pay off more of your debts.  When planning your budget, don’t forget to include some personal money. 

Start with the small debts first.  Pick the credit card with the highest interest rate and smallest balance and work from there.  After one debt is paid off, use the extra money that you’re saving from the first card, and pay off the next.  This way, you should be able to pay your balances down quickly.

It only takes a couple of months of good payment practices to begin to see your credit score go up. With a good credit score, you can get a better interest rate.  This will save you thousands of dollars in mortgage payments over the life of the loan.

Save For the Down Payment
You’re ready to start saving for the down payment to purchase one of the Alexandria VA homes for sale.  It has to be paid up-front at the loan closing, but sometimes the seller will pay the closing costs.

If you’d like more tips on how to buy Alexandria VA homes for sale then subscribe to this blog.  It’s free and easy.  Just enter your email address in the subscription section, and you’ll automatically receive tips like this in your email inbox a couple of times a week.

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