Fairfax County VA Home Search Website Blog

If you get a mortgage for more than 80% of your Fairfax County Virginia real estate’s fair market value, your lender will require that you pay Private Mortgage Insurance (PMI). PMI payments are expensive at about 0.5% to 1% of the entire loan amount on an annual basis.

Obviously, it would be a good thing if you didn’t have to pay PMI. To help you achieve that goal, here are several tips to avoid paying PMI on your Fairfax County Virginia real estate:

• Save for a big down payment: The easiest way to avoid PMI is to have a down payment of at least 20% of the value of the home you want to purchase.
• Borrow to get 20% down: Check with friends and family for down payment assistance. You can offer repayment with interest and still never pay what you would have to for PMI.
• Get a Second Mortgage: Getting a second mortgage to cover the difference between your down payment on your first mortgage and the 20% threshold for your PMI can make a substantial difference in your monthly payments. Talk to a qualified mortgage professional to discuss your options.
• Pay More Interest: Some lenders will waive PMI if you agree to a higher interest rate. Again, discuss your options with a mortgage professional.
• Consider a Less Expensive Home: This goes back to being able to hit that 20% threshold. As we’ve all seen in this tough economy, stretching beyond your means can have dire consequences if your circumstances change. Consider if you really need that extra bedroom and extra expense. If you haven’t saved enough to afford an expensive home, downsize your expectations and buy within your means.

If you’d like a referral to an outstanding mortgage professional or need help finding a home that fits your budget, 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

If you are on the verge of buying Fairfax County Virginia real estate, you’ve probably heard the term Private Mortgage Insurance (PMI). Mortgage professionals talk about it a great deal, but you may be asking, “What is it exactly? And why should I care?”

Private Mortgage Insurance Defined
PMI is required by lenders if the down payment of a purchase is less than 20 percent of the home’s value. It protects the lender if the borrower defaults on the loan. It also makes the lender more apt to loan, even if the down payment is as low as 3%, because in the long run, the lender’s investment is protected.

You Pay For It
Unlike other types of insurance which you pay to protect your interest in an asset, you pay Private Mortgage Insurance to the mortgage company to protect its interest in your new Fairfax County Virginia real estate. (Note that PMI is not usually tax deductible. Check with a tax professional for details. )

Make It Go Away: PMI Can Be Terminated Once You’ve Paid Down Your Loan
Once you pay down your mortgage to the point where it hits the magical 80% of the original purchase price or appraised value, whichever is less, you can request cancellation of PMI. The Homeowners Protection Act requires that loans made after 1999 include notifications to the borrower when you arrive at this point in your payments.

Your PMI payments must be automatically canceled once you pay down your loan to 78%. At closing, and on a yearly basis, you should receive information from your lender about when you can request cancellation.

Whether you’re ready to buy Fairfax County Virginia real estate or need more information before taking the plunge, I can help. 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

In this economy, cash buyers have the advantage and are swooping in on great housing deals to beat out buyers obtaining loans through banks. Sellers are jumping on these offers because the cash is already secured, they don’t have to worry about finances falling through at the last minute, and it can guarantee quick closing dates on their Alexandria VA homes for sale.

While dealing in ready money definitely gives real estate investors an advantage, don’t get discouraged. There are a few guidelines financed buyers can follow to give them a better hand when it comes to beating out competitors that throw down the cash card.

• Get pre-approved. Talk with a reputable bank and get a pre-approved home loan for a certain amount before you start shopping for Alexandria VA homes for sale. This will give you an idea of the maximum you can spend and ensure you have the funds to back up your bid.
• Save for a large down payment. The more money you can put down up front, the more likely it is that you will sway the seller to accept your bid. This is especially true if the seller is a bank, because it wants to erase bad debt quickly.
• Build a relationship. Cash investors usually have a good rapport with listing agents, and so should you. Figure out who the seller’s agent is and introduce yourself, or have your real estate agent send greetings on your behalf. You should also be sure you’ve hired an agent who knows how to build beneficial relationships with buyers, sellers, other agents, and everyone involved in the home selling process. The more the seller’s agent gets to know and trust you and your agent, the better chance you will have.
• Seek out the seller’s needs. Ask your real estate agent to try and find out if the seller has any special requirements, such as needing a shorter or longer closing period. If you offer to be thoughtful and flexible, you have more of a chance of beating out the cash buyer.

Don’t let cash investors deter you from getting good deals on Alexandria VA homes for sale. Prepare, save, build a relationship and be flexible, and you might have a new house before you know it.

Want to work with an agent who knows how to build beneficial relationships?  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

In this computer age where everyone relies on the Internet for accurate information, it’s unfortunate that some online Fairfax County Virginia real estate information can be misleading. With the vast amount of time you have to spend house hunting to find a home you love, you don’t want to waste any of it on properties that aren’t what they seem.

Beware of the following online inaccuracies when house hunting online:

• Misleading descriptions – When you visit a property, double-check that what attracted you to it online is portrayed accurately. Ensure that a “fully finished basement” isn’t just concrete floors and drywall or that the “spacious backyard” isn’t as narrow as a dog run.
• Errors – It’s impossible for nation-wide real estate websites to manage and fact check all of the information posted to their pages, so inaccuracies often happen — such as wrong price points or incorrect home descriptions. Follow up with a Fairfax County Virginia real estate agent, if you’re seriously interested.
• History hiccups – Check with an agent to find out how long a house has truly been on the market. If a seller has switched agencies or removed the property from the market for a period of time, the house could appear to be newly listed based on its official number of days on market.
• Out-of-date information – Agents market many homes at once, and while they might reprint fliers for an open house or relay current information to inquiring buyers, they could completely forget to update the online information.
• Old listings – Be careful about spending time on a wild goose chase. Properties are often listed online, but have already sold. While this may be an intentional ploy to get you to call an agency, most agents are just too busy and forget.

The Internet has made searching for homes and gathering house hunting information much. Just be skeptical, see a home in person, and thoroughly research the history and neighborhood before making an offer on Fairfax County Virginia real estate. 

If you’re interested in purchasing a home, let me do the time-consuming house hunting for you. 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

At this time of year, as thoughts turn to gobbling down turkey dinners and watching football, it’s easy to get caught up in the details and lose the spirit.  So today, I want to take a minute to say something important:

Thank you!
Because of you, I have a job I love: being a Fairfax County Virginia real estate agent. 

Thanksgiving is a holiday of gratitude, and yet too few of us remember that when we’re stuck in traffic going over the river and through the woods to grandma’s house for her famous pumpkin pie. 

So today, I’d like to say again, thank you.  

Thank you for contributing to this community, online and in the real world, by asking questions, adding your insights, and trusting me with your housing dreams.   

If we’ve worked together in the past, please know that I am sincerely grateful for your business. I hope the experience of working together led you to your perfect home and fulfilled your real estate goals.

If you are new to this site and just beginning to investigate the sometimes confusing world of real estate, I’d like to thank you for stopping by.  I hope that we will have an opportunity to work together.
 
One of my favorite things about working as a Fairfax County Virginia real estate agent is that I learn so much about the lives of my clients. They let me inside their homes and tell me about their best imaginings for the future. Thank you for allowing me to be a part of your life.

Thank you for your trust.  I want you to know I am honored by it, and take it seriously. As a Fairfax County Virginia real estate agent, I take pride in helping you find the perfect solution for your needs. I love hearing your stories as you embark on new chapters, and addresses, in your life.  

During the warmth of this holiday season, I hope you and yours are safe and secure in a community that you love. And I hope your turkey emerges from the oven golden brown and delicious!

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

Home improvement shows tell you that you can add 20 to 40 thousand dollars to the value of your Arlington VA home by doing a simple remodel on virtually any room or outdoor space in your home.  While you can get a return on your investment for most remodeling projects, the increase to your home value is not always as high as the home improvement shows claim.

Myth #1: If you put 20 thousand dollars in a kitchen remodel, your home will increase 40 thousand dollars in value.
Fact: The average kitchen remodel costs 40 thousand dollars.  This is on a mid-range remodel, not a high end remodel.  The average return you can expect is 80 to 95 percent or about 36 thousand dollars on a 40 thousand dollar remodel.

Myth #2: Updating a bathroom can add as much as 20 thousand dollars to your bottom line.
Fact: The average bathroom remodel will net about a 70 percent return.  To gain the type of return some of the home improvement shows claim, you would need to add another bathroom to your Arlington VA home.

Myth #3: Hardwood floors return 100 percent of the money you invest in them.
Fact: Hardwood will get you a big bang for your buck, but not every buyer wants the upkeep associated with hardwood.  Children and pets can be tough on wood floors.

Myth #4: Adding an outdoor space will be counted as living space when you resell.
Fact: Although outdoor space is wonderful, it is not considered living space by appraisers.  The living space or square footage that counts in a home appraisal is the space at grade (ground) level.

For help on what to do to improve the resale value of your Arlington VA home, 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

Within the walls of your home or condo, you’ve probably raised a family, made future plans and created years of memories. Take time this month to be thankful for everything your home or condo in Arlington VA has given you by giving it some green TLC this Thanksgiving.

With Christmas right around the corner, I know it’s hard to justify spending a lot of money on your home or condo in Arlington VA. Below are a few easy and affordable green projects for you to do this Thanksgiving holiday — and they’ll start paying off immediately!

• Buy compact florescent light bulbs. You don’t have to do this all at once. As your light bulbs burn out, purchase these energy savers for around $3 a piece. They last about ten times longer than incandescent light bulbs and can save you close to $40 over their lifetime.
• Use faucet aerators. These only cost about $10 and are incredibly easy to install. Just unscrew your faucet nozzle or showerhead and slip the aerator in. It can cut your water bill in half by making the water squeeze through tiny holes, which makes it feel like there is more pressure. You’ll also reduce heating bills because the less hot water you use, the less you’ll have to heat.
• Put in ceiling fans. If you don’t have these in your house, then you’re missing out on a huge energy-saver. Starting around $50, ceiling fans push hot air down and help regulate each room’s temperature — just switch the blade rotation for summer.
• Replace your old toilet. Older toilets can dispense almost 3.5 gallons per flush, while modern low-flow toilets dispense as little as 1 gallon. If you’re in for more of a handyman challenge, you can purchase these for as low as $150. The more people you have in your house, the more savings you’ll see.

Not only will your home or condo in Arlington VA and finances thank you for the green upgrades, but the environment will too.

If you’d like more green ideas you can implement this Thanksgiving break, please call me 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

If you notice a musty or dusty smell when you turn on the furnace, you should look into having your air ducts cleaned. People with allergies or respiratory issues are especially vulnerable to the circulation of dirt and mold spores that accumulate in the HVAC system.

To help you determine if it’s time to clean the air ducts in your Alexandria VA home, here are answers to some frequently asked questions:

• Why should I have my ducts cleaned? Particulates in the air ducts become airborne throughout your Alexandria VA home whenever the blower goes on. In addition, contaminant buildup can reduce the efficiency of the heating system.
• How often should my ducts be cleaned? Even if your heating system has a good, effective filter, some experts believe your air ducts still need to be cleaned every five to seven years.
• How are air ducts cleaned? The best way is with brushes and a giant vacuum equipped with a High Efficiency Particulate Air (HEPA) filter. However, if your ducts are made of duct board (lined with porous fiberglass), this method should not be used. Do not allow anyone to apply pesticides or biocides into the duct system of your Alexandria VA home. These would cause more problems than they would solve.
• Do I need to leave while my ducts are being cleaned? If you have allergies, asthma or other respiratory issues, you should vacate your home while the ducts are being cleaned.

For more home maintenance tips like this, subscribe to my blog. It’s free!

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

If you’ve been thinking about replacing windows, doors, roofing, insulation, the heating and cooling system and/or hot water heater in your Alexandria VA home, don’t delay!

You can qualify for the energy-efficiency tax credit by installing eligible energy-efficient products, but only until the end of 2011. For most upgrades, the credit is equal to 10 percent of the equipment cost (labor is usually not included), with a cap of $500. Remember, a tax credit is much better than a mere deduction because a tax credit is subtracted from the taxes you owe.

In addition, here are other benefits you’ll reap from a green renovation.

• Your home will be quieter. With tight new windows and doors, or added insulation, you won’t hear what the neighbors are doing, whether it’s honking their horns, screaming or playing loud music. Barking dogs? You’ll just sleep through it.
• Your home will be more comfortable. No more drafts in a green-renovated home. The temperature will be uniform throughout, wherever you are.
• You will save energy. Whether you increase your insulation, upgrade windows or install an energy-efficient furnace or water heater, your use of energy will go down. The tax incentives are aimed at saving energy, and it’s something you can feel good about.
• You will save money over time. One thing is guaranteed: energy costs will go up. The sooner you upgrade, the better it will be for your finances.
• You’ll be investing in your Alexandria VA home. All of these options will add to the value of your home.

If you’re looking for strategies to sell your Alexandria VA home, or if you’re ready to buy a “green” home, call me 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

If your home or condo in Arlington VA still has old, single-pane windows, the answer is a resounding YES! Otherwise, it depends on the quality of your windows.

Today’s windows are improving all the time, with added features making them tighter than ever.  For added comfort, lower energy costs and a soon-to-expire tax credit, it might be time to upgrade. Before you go window shopping, it will help to know something about the following terms:

• NFRC: This is the National Fenestration Rating Council, which brings you the labels found on all new windows. They test and rate the window’s performance in several important categories.
• U-Factor: This indicates the window’s resistance to heat loss. It is the inverse of the R-Factor used in insulation, so the lower the number, the better.
• SHGC: This is the Solar Heat Gain Coefficient. Most important in hot climates, it tells you how much of the sun’s radiant heat can pass through the window into your home or condo in Arlington VA. It is a number between 0 and 1. In a hot climate, you would want a low SHGC, such as .4, but in a cold climate, you might want a high SHGC (e.g. above .5) in south-facing windows, for solar heat gain in winter.
• AL: This stands for air leakage. Also a number between 0 and 1, it measures how tightly the window is constructed. Specifically, it represents the amount of air, in cubic feet per minute, that can pass through 1 square foot of the window. It’s best to get windows with an AL score below .3.

If you are replacing several windows in an area, make some of them fixed windows that don’t open; they are inherently tighter than those that do, and cost a bit less too. Upgrading the windows in your home or condo in Arlington VA will increase its value, both to you and to future owners.

If you’re looking for one of the homes or condos in Arlington VA with updated windows and more, contact me today at 703-909-3939 or Steve@HomeSearchWebsite.com.

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