Here are a couple of tips to help you decide:

• A home equity loan is commonly referred to as a second mortgage.  Expect the process to be similar to getting your primary mortgage.  Your home will have to be inspected, and you’ll need to arrange for another appraisal.  Home equity loans frequently have a higher interest rate than primary mortgages because the lender is at a greater risk of you defaulting on the loan.
• The HEL can be a fixed-rate mortgage, which means that your interest rate and payments are fixed for the duration of the loan.  This makes it easier to plan for the payments, so you’ll be able to borrow responsibly and not get in over your head.
• A home equity line of credit is more like a credit card secured by your condo in Arlington VA.  It allows you to withdraw money, up to a set limit, whenever you need it. There is generally a minimum payment due each month.  Unlike a loan, you’ll increase your available credit each time you make a payment.
• A line of credit usually has a variable interest rate, like a credit card.  It may have a low introductory interest rate for a short time, and then increase for the rest of the loan term.  You can access the funds with a bankcard or checks drawn off the HELOC.

If you are borrowing for a single project like remodeling the kitchen of your condo in Arlington VA, you might think about a home equity loan.  However, if you’re looking to finance a re-occurring expense like college tuition, an open line of credit might work best for you. 

Have questions about mortgages or real estate?  I’m happy to help.  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

A program called the Home Affordable Refinance Program (HARP) has been extended for another year.  This program, intended to help borrowers whose homes (or condos) have fallen in value, was due to expire as of June, 2010.  Fortunately, HARP has been extended and will now stay in effect through June 30, 2011.

How does HARP help?

The program allows qualified borrowers who owe more than their homes and condos are worth to refinance at lower interest rates.  It’s projected to help 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac.

If you own a home or condo in Arlington VA and your mortgage interest rate is significantly higher than the current market rate, you could see an immediate reduction in your payments.  However, some homeowners may not see their interest payments go down if they refinance to a fixed rate and payment.  Those include homeowners who are:

• paying interest only
• have a low introductory rate that will increase in the future
• face a balloon payment

If you are one of these homeowners, you should still consider refinancing because it could save you a great deal of money by reducing the amount of interest you pay over the life of your mortgage. 

Who qualifies for HARP?

You may qualify if:

• You own and live in your home.
• The loan on your home or condo in Arlington VA is owned or guaranteed by Fannie Mae or Freddie Mac.
• When you apply, you are current on your mortgage payments.
• The amount you owe on your mortgage does not exceed 125% of the current market value of your property.
• You’re able to pay the new mortgage payments.
• The refinance improves your ability to pay your mortgage long term.

If you have questions about HARP or any other questions about homes and condos in Arlington VA, please 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

According to a recent Pew Research Center study, many individuals are surviving the economic blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Although the statistics aren’t back yet for 2009 -2010, experts expect the numbers to be even higher.

These Americans aren’t all young college graduates moving back in with mom and dad, either. Parents have moved in with children, children with parents – somehow, even siblings have managed to live together in relative harmony. This trend spans across the board from single parents to elderly grandparents. According to the report, approximately one in five adults ages 25 to 34 and 65 + live in a multi-generational home.

Are you suggesting I let family members move in?
Actually, yes I am. Now, depending on your family dynamics, I realize this might be the equivalent of inviting World War III to your doorstep. However, if you face losing your home or condo in Arlington VA to foreclosure, you might at least stop to consider the possibilities. For instance:

• More working people in the household means more ability to pay the mortgage and stop the foreclosure.
• With more family members, you have a stronger family influence on children living in the home.
• With more people, responsibility is shared more.  You won’t need to do everything on your own.

No, it’s not an ideal situation. However, if you’ve said, “I’d do anything to keep my home,” did you mean it? Does the definition of “anything” include family World War III? Could you sit down with your family members, work out a set of compromises and live in harmony? If you’ve tried everything else, this may be your best bet for avoiding foreclosure on your home or condo in Arlington VA.

You never know; you may even come to like it.

If you’re looking for a home to support a multi-generational household, 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

1. Clean. I’m sure you’ve already cleaned every part of your home or condo in Arlington VA to prepare it for sale. Make a game of it this time.  Time yourself to see how fast you can clean one room or one drawer.  Or, take out every type of cleaner you have and use it in each room.

2. Plant a container garden. The best part of a container garden is that you can take it with you. Plant some herbs or easy to grow vegetable plants, like tomatoes or cucumbers.

3. Sort through your magazines. Now you have the time to read all those magazine articles you’ve been saving.  Cut out coupons and recipes.  Send articles to your friends to let them know you’re thinking of them.  Throw out the magazines when you’re finished.

4. Clear the pantry and freezer. You don’t want to take all your excess food with you when you move. Clean out the pantry, and donate supplies to your local homeless shelter or food pantry.  Eat something from your freezer every day until it’s all gone.

5. De-clutter and eliminate.  Clean out your makeup stash. Weed through the kids’ toy box. Do any small task that will lighten your moving load.  Ask yourself, do I really want to pack this item, move it and then unpack it?  If the answer is no, pitch it or give it away.

6. Finish crafts. Go ahead and finish the quilt or scrapbook you’ve been working on. This will help clean out your craft closet and will make packing your craft supplies that much easier.

7. Empty your medicine cabinet. Do you really need that bottle of medication from your surgery 12 years ago? Toss anything that’s out of date or that you no longer need to keep.

8. Save your digital photos to a disk. Choose only the photos you want to keep and save them to a CD or flash drive. You never know when your computer is going to crash.

9. Have a yard sale. You need to clean out your closets anyway. You might as well make some money off the items.

10. Throw a barbeque. Take the proceeds of your yard sale and have a barbeque for you and your neighbors. Think of this as a going away party.

Take advantage of the time you have while waiting for your home or condo in Arlington VA to sell.

Need help selling your home or condo?  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

1. Stop generating heat.  Turn off your computer and monitor when not in use.  Lower the thermostat on your water heater.  Air dry your dishes instead of using your dishwasher’s dry cycle.  Grill outdoors or use your microwave instead of your oven.

2. Install shades or blinds.  The best way to keep your home or condo in Arlington VA cool is to keep the heat out.  White window shades, drapes, or blinds reflect heat away from your house. Close blinds, shades and draperies facing the sun to keep the sun’s heat out and help fans or air conditioners cool more efficiently.

3. Use a programmable thermostat.  Automatically adjust your air conditioner’s setting at night or when no one is home.

4. Improve your air conditioner’s efficiency.  Add insulation around A/C ducts that are in hot spaces such as attics, crawl spaces and garages.  Make sure your fireplace damper is closed.

5. Turn on a fan.  Whether you use a box fan, a ceiling fan or an oscillating fan, this one appliance can make your room feel 6 to 7 degrees cooler.  You can keep a fan on for 12 hours a day and still spend less than $10 a month on electricity for it.

6. Open your windows.  Once the sun goes down, and it gets cooler outside than inside, turn off your A/C and open your windows.  Getting a breeze of fresh air after your home has been closed up all day is very refreshing.

7. Run your furnace fan.  Check your thermostat to see if it allows you to run your furnace fan without engaging the furnace or air conditioner.  By running your furnace fan, the air circulates throughout your home balancing out any cold or hot spots.  This makes your entire home feel more comfortable.  Additionally, allergens that entered your home when your windows were open (see tip 6) will be trapped by the furnace filter. 

8. Move heat generating appliances.  Don’t place lamps or TVs near your air conditioner’s thermostat. The heat from these appliances will cause the air conditioner to run longer.

9. Live in your lowest level.  Because heat rises, the basement and first floor of your home are naturally cooler than the upper levels.  Spend as much time as possible in the lowest levels of your home this summer.  If the majority of your time is spent there, you may want to close up the A/C vents in the unused upper levels to save even more money.

10. Hang laundry outside to dry.  Your clothes dryer is like a spinning oven.  Don’t heat up your home by turning it on.  Instead, go for the green fix and hang your laundry outside to dry.  If your neighborhood bans outdoor clotheslines, wait until the cooler evening hours to use your dryer. 

Stay cool and enjoy your summer for less!

How do you save on energy bills?  I’d love to hear your ideas.  Post a comment here, or email your tips to me at Steve@HomeSearchWebsite.com.

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

Why would you want to market to older buyers? Several reasons, but the main reason is the size of this market, especially the size of the baby boomer generation.

The Population Reference Bureau reports that there were 76 million births during the 19 years covering the baby boomer generation.  A large percentage of these baby boomers, who are now between the ages of 46 and 64, are looking or soon will be looking for a home to live in during their retirement years.

What are they looking for? The National Association of Home Builders says this market wants practicality over technical advances:

• Storage space – Most have amassed a lot of personal belongings they aren’t willing to get rid of when they move.

• First floor master bedrooms – The older you get, the less stairs you want to climb as a rule. First floor master bedrooms are an excellent selling point.

• Easy-open windows – No one wants to struggle with opening windows. This is especially true with the older generations.

• Room-related aids – Grab bars in the bathrooms, easy-to-reach kitchen cabinets, railings on the porch: these aids can make a big difference to older buyers.

• Public transportation access – Many of the older generations prefer public transportation to driving, and easy access to that transportation is paramount.

• Non-slip flooring – It’s a fact of life. The older you get, the more fragile your bones and muscles are. Non-slip flooring reduces the chance of severe injury.

The two major features older generations want fall under the categories of “easy living” and “security.” Home maintenance and repair services, outside lawn maintenance and security systems are big sellers. As well, home entries without stairs, lever-handled doors, wider hallways and walk-in showers and tubs are all extras that raise the chance of the older generation buying a home.

If your home or condo in Arlington VA isn’t bringing younger buyers, take a second look. You may very well be targeting the wrong market!

If you’re trying to sell your home, or if you’re looking for a home or one of the condos in Arlington VA to live in during your retirement years, 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 may be thinking of getting a home but wondering how much space you really need. If you opt to look at houses, your choices are vast.  Houses, both large and small, are abundant in today’s real estate market.

Even though condos in Arlington VA are typically smaller than most houses, there are large condos available (even condos larger than houses).  And, just like traditional houses, there are a lot of condos available in this buyer’s market.

So, how do you choose?  Your selection should be based on your current and near-future needs.

Let’s demystify the differences and clarify your selection:

• Space: Is your family large?  Are you planning to add many more?  Do you work from home?  Consider your plans for the next 5 to 7 years, and buy the size that fits those needs.
• Price: Condos can be more affordable, especially the smaller ones.  But, with condos you have to pay condo association fees.
• Location: If you want a condo with a great view, close to work, for example, prepare for a premium.  Conversely, many homes with great yards and neighborhoods are quite affordable.  Not choosy?  Competitive pricing awaits you with either choice!
• Luxury: Lavish condos in Arlington VA, much like ideally-located ones, are often steeply-priced.  Luxury houses are expensive, too.  The good news is that whichever style of housing you choose, you’ll find luxurious versions.
• Availability: There are typically more houses on the market than condos, so, in general, your selection is greater with houses.
• Privacy: Houses typically offer more in the way of privacy.   But, the trade off is that you also have more responsibilities and maintenance when you own a house.  Want a care-free, low-maintenance lifestyle?  A condo may be your best bet. 
• Acreage: If a smaller yard (or no yard) doesn’t bother you, a condo can offer excellent square footage and lower payments.  Looking for land?  A home is your best way to go.

Still Unsure?

I’d love to assist in your juggling act.  Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com and together we’ll find the perfect home to fit your budget and lifestyle.

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

The summer heat can also assault your wallet.  In fact, you can easily watch your utility bill double during the summer months.

Fortunately, there are some steps you can take to cool your home or condo in Arlington VA for less money and less impact on the environment this summer. Here’s how.

1. Prep your home. Turn off heat-generating lights and appliances.  Don’t use your oven. In the afternoon, close your windows and outside doors and keep window coverings drawn. At other times, use fans to create a cross breeze.

2. Raise your thermostat. When you’re not home, raise the thermostat to 80 degrees. Lower it two or three degrees when you are home and use ceiling fans to keep rooms cool. Moving your thermostat from 75 to 80 will lower your consumption by 15%. Your home or condo in Arlington VA will still feel comfortable, and you will notice significant savings on your next utility bill.

3. Take a look at your windows. You’d be surprised to find out how much heat enters your home from old, single pane windows. Newer energy efficient windows with double panes block more heat and keep more cool air inside. If you can’t afford new windows now, at least cover the ones you have with heavy curtains or shades to keep out heat.

4. Check for leaks. Leaky duct work and poorly sealed doors can let as much cool air out of your home as an open window. Walk around your home checking under your doors and around your windows to feel for escaping air. Hire a professional to check your air conditioning systems for you. Take the time to have duct leaks repaired and seal air leaks. 

5. Dress appropriately. There’s no reason to keep your home or condo in Arlington VA so cold that you have to wear extra layers of clothing when you’re inside. Wear light, loose fitting clothing. You’ll be more comfortable in slightly warmer temperatures. Keep light throw blankets handy for anyone who easily gets cold under a ceiling fan.

Implementing even one or two of these tips in your home can save you money and help the environment.

Want to buy an energy efficient home or condo?  I can help.  Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com to learn more.

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

Unfortunately, some barbequers unknowingly give their family and friends a healthy dose of bacteria along with the food.  To keep your family and friends healthy over the holiday, while still enjoying this summer activity, follow these meat safety tips at your home or condo in Arlington VA:

Avoid cross contamination
When you go to the grocery store to buy meat and other foods, keep the raw meat separated from the rest of the food to lessen the chance of cross contamination. Make sure the raw meat is wrapped in plastic bags, again, separated from other meat and foods. Even packaged raw meat can leak, and you want to keep the juices from seeping onto other food.

Head Home
The summer is hot for most areas of the country. Even if you have air conditioning in your car, you want to go straight home from the grocery store. The longer food is exposed to heat, the more chance it has of gaining a nice bacterial growth. Make sure the grocery store is your only, or last, stop before heading home.

Refrigerate
When it’s hotter than 90 degrees, food needs to be refrigerated within the first hour of leaving the store. If it’s less than 90 degrees, you have two hours. Freeze any meat or poultry you won’t be using in a day or two, but make sure everything is refrigerated as quickly as possible.

Thaw Carefully 
If you’re going immediately from thawing to the grill, you can use a microwave to defrost. However, for the safest methods, either slowly thaw in the refrigerator over a period of a day or two, or use cold water and sealed packages.

Transport Cold
If you aren’t barbequing at your home and need to transport the meat, transfer the meat immediately to an insulated cooler (40 degrees or below) right before leaving home. As well, make sure you keep the cooler out of direct sun, which can reduce its efficiency at keeping food cold.

Serve Hot
Keep the food hot (140 degrees or warmer) until it’s served. You can set the meat at the side of the grill rack or on a warming tray. Use a clean serving platter rather than the same plate that held the raw meat.

By following the above tips, you’ll help your family and friends have a happy, healthy Fourth of July.

Looking for one of the homes or condos in Arlington VA to celebrate next year’s Fourth of July? 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

Before you jump in and buy one of the condos in Arlington VA, make sure you also consider what some people consider the downside to owning a condo:

1.  Space – Buying a condo means sharing an interest in it.  What you own is your personal “box of air.”  The rest of the condo – the common areas – is shared between the other owners.

2.  Neighbors – Because you share walls and common areas, there’s a high chance that you’ll be able to hear them as they move about their own space.  You’ll run into them more often, and have to coordinate with them in issues regarding the common areas.

3.  Reselling – If you own a condominium and think you might resell it later, be aware that condos in Arlington VA are typically more sensitive to the real estate market and take longer to recover than traditional single family homes.

4.  Fees – You’ll have to pay monthly condo fees to take care of the maintenance of the common areas and for amenities you may not use, such as a swimming pool or fitness facility.

5.  Rules – All condominiums have CC&Rs, or Covenants, Conditions and Restrictions.  The CC&Rs may not fit your lifestyle.  They can include noise level restrictions, types of renovations, owning a pet or even the type of curtains you use.

6.  Association – Instead of property management professionals, the association is made up of homeowners.  It may be weak or inefficient, and you might have to get approval to make renovations or rent out your unit.

Condos in Arlington VA are great to own, but they aren’t for everyone.  Make an informed decision before buying one, and you’ll be a happy owner. 

If you’re looking to buy the perfect condo, I’d love 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