Fairfax County VA Home Search Website Blog

Has your Fairfax County VA home for sale been victimized by DIY remodeling projects? Did they not quite turn out like you thought they would? You aren’t alone; I’ve walked into houses with cabinets hanging at a slant and the owner proudly telling me they did it themselves.

Leave it to a pro.
Not everybody can be a remodeler. Not everybody is handy at everything. For instance, I can change the oil on my car, but I leave engine overhauls to the professionals.  Why? Because that’s what they do, and they do it well.

Now, many people choose to do remodeling themselves because they think it’s cheaper – and it often is when done right. However, knowledge is power. It’d be cheaper for me to do my own engine overhaul, too, but I’ve never done it before and don’t know how. I’m not going to start learning on my own car, either.

Consider the quality.
If you’re considering a major remodeling project to add value to your Fairfax County VA home for sale, I strongly recommend hiring a professional remodeler. I especially recommend this if you don’t know anything about plumbing, wiring or building standards. Keep in mind that your house will have to pass inspection. If your remodeling project doesn’t stand up to building codes, it won’t pass inspection.

As well, when you remodel to add value in order to sell, quality is of utmost importance. The first DIY project you do very seldom ends up looking right, and – although you may be understandably proud of sloping countertops or unevenly stained molding because you did it yourself – it won’t help sell your home.

Start small.
If you’re remodeling and you plan to stay in your home, I strongly suggest – if you must DIY – that you start small. Here’s a hint: expanding your bathroom or kitchen isn’t considered a small project. A small project is like fixing a squeaky stairway or replacing a door.

DIY sites like This Old House and Do It Yourself make big projects look easy, I know. However, if you want to, say, strip your wooden kitchen cabinets, try starting with a piece of furniture. Go buy a cheap wooden chair from a flea market and see how it turns out first.

Whether you’re remodeling to get more value from your Fairfax County VA home for sale or just to make it a more comfortable space to live, I implore you – your home implores you – at least think about a professional. If you don’t know what you’re doing, your home may end up as just another victim of random DIY.

Are you good at remodeling and looking for a home with potential? 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

If you’ve been looking at your finances to see if you can afford a Fairfax County VA home for sale, or a home in any area for that matter, a new report from the National Association of Home Builders and Wells Fargo says, “Yes, you can!”

According to this report, the prices for over 72% of the homes purchased in the first quarter of  2010 were affordable for families making an annual income of $63,800 (the median national income).  One of the main reasons for this is because of the national median price: just $175,000. Adding to that is the still historically low interest and mortgage rates, as well as companies once again beginning to hire new employees.  These “affordability” numbers are based on 28% or less of a family’s take-home pay.

Many new homeowners agree. The National Association of REALTORS® released the statistics for existing home sales on May 24.  April saw a 7% increase in sales from March, and Freddie Mac reports that 30-year, conventional, fixed-rate mortgage commitment rates rose to 5.10% in the same month.

What Does This Mean for Buyers and Sellers?
While this still means slow going for those with a Fairfax County VA home for sale, this means an incredibly hot market for buyers.   With over 4 million homes available for sale, sellers are definitely competing with each other.  In many places across the country, homeowners have dropped their prices 10% to 50%, in an effort to attract attention.

Can You Afford a Home?
If you’re looking at the real estate market and wondering if you can finally afford the home of your dreams, it’s time to quit wondering. Start doing your research.

Before you begin shopping for a home, shop around for a lender. Finding a good lender with reasonable rates is one of the best first steps of buying a home.

Next, get pre-approved for a mortgage.  Pre-approval lets you know how much you really can afford and whether your credit is acceptable for a mortgage. As well, if you do find the home you’ve always wanted, being pre-approved gives you a strong standing in negotiations, because the seller knows you’re seriously looking for a home.

Finally, if you can afford a Fairfax County VA home for sale and have been waiting for the best time, you’ve reached it. There’s never been a better, more affordable time for buyers in the last 50 years.

If you’re looking for your dream 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

The Federal Government envisions a secure and stable marketplace for national and Fairfax County VA homes for sale, thus their involvement. We may or may not like the politics, but the fact remains that the marketplace has stabilized somewhat, and prices are leveling in anticipation of an upward turn.

No matter the actual state of the market, the simple fact is that motivated buyers and sellers for Fairfax County VA homes for sale do still exist. If not, a lot less people would visit this site. 

If you market your home correctly, the opportunity to sell is still promising. After all, interest rates are favorable, prices are realistic and the government has thrown some interesting incentives to buyers, sellers and lenders alike.

You and your real estate agent have the ability to induce buyers to act.  If your agent is experienced, he or she will work with you to develop incentives and add appeal to the transaction.

Step 1:  Provide Factual Information

Facts outweigh rumor, and having provable information helps get rid of the buyer’s reservations.  Here are some of the main facts you and your agent need to have at your fingertips in order to induce buyers to act:

• Knowledge of all local, state and federal tax incentives available to residents of your area
• Knowledge of all projected closing costs 
• An understanding of the buyer’s financial and domestic qualifications
• Complete knowledge of the school system and all community services and costs
• Expertise concerning the history and composition of the home
• Knowledge of any planned growth in the area

Step 2:  Provide Incentives

The “incentivizing” (no, that’s not a real word) of your home involves several factors. Some incentives may be more creative than others.  Here are a few ideas:

• Offer a one-year home warranty program through a third party provider.  This is a popular way to relieve buyers of some of their reservations. The idea is based on getting rid of unexpected expenses and the possibility of hidden costs.
• Have the seller pay part of the closing costs.
• Combine the above two incentives with a flexible closing date to make Fairfax County VA homes for sale that much more attractive.

Want help “incentivizing” your home to get it sold?  Give me a call today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com to find out how I can help sell your home.

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

If you’re anything like me, you’ve driven through neighborhoods, admiring the Fairfax County Virginia homes and immaculate lawns.  You’ve pictured your dry, brown yard, wondering how these homeowners managed to get their lawns looking so great. 

Here are a few tips and tricks that can help achieve that plush, green grass that everyone hopes for:

1.  Choose a type of grass seed that’s right for your climate zone. 

There are three climate zones:  Warm, transitional and cool.  Warm season grass is better for lawns in the South, cool season for the North, and transitional for Central.  The best bet for the transitional zone is either a mixture of warm and cool season grass or using the same seeds as the warm zone. 

2.  Plant at the right time.

Throw grass seed on the ground at the right time, and it’ll grow.

• Warm zone grasses – sown in the spring, once the soil is warm enough for sprouts to grow.
• Cool zone grasses – sown in the fall, generally between August 1 – 15 for the far North, and August 15 – 30 for the warmer areas.

3.  Cut at the right height.

No matter what zone the Fairfax County Virginia homes with gorgeous green lawns are in, you may notice that the lawns all seem to be about the same height.  There’s a reason for that.  Lawn care experts say you should never cut your grass shorter than two inches.

4.  Use the right mower.

You want to use mulching lawnmowers, replacing the blades every season to keep them sharp for cleaner cuts.  These lawnmowers turn the clippings into perfect grass-feed, which takes care of about half of the feed for the season. 

5.  Have a good watering schedule.

The best time to water a lawn is first thing in the morning.  You want to water all at once instead of in short spurts, soaking your lawn with about one inch each time you water.  Cool zone lawns should be watered whenever it’s been dry for a week.  Lawns for warm zone Fairfax County Virginia homes should be watered twice a week during the summer.

Want to buy Fairfax County Virginia real estate that has a lush lawn?  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

Good credit is more important than ever, if you want to get a loan to buy one of the Fairfax County VA homes for sale. Knowing what’s on your credit report and how lenders view various aspects of your report is crucial.

First Things First

Get a copy of your credit report from all three of the credit reporting companies: Equifax, Experian, and TransUnion. You are entitled to one free report every year from each of the three credit reporting companies.  Whether you’re considering getting a loan or not, you should always take advantage of that opportunity to make sure your credit reports are accurate.

Range

FICO® scores range from 365 to 840. While the standards for what lenders consider a “good” FICO® score changes constantly and varies by lender, here’s a general breakdown of today’s standards:

• Over 750 is excellent and should get you the best terms and rates.
• Under 600 might get you a loan to buy that Fairfax County VA home for sale you’ve been looking at, but you’ll want to shop for the lender who’ll give you the best rates and terms.
• Under 500, you need to brace yourself for waiting until you get your credit in better condition.

What Determines Your Score

There are many things that can affect your score.  Magically (or not), each of the three companies tend to view things just a little differently, which means your score will not be the exact same for all three. That’s why it’s so important to get copies of your report from all of them. However, the two main things that all companies consider in rating your credit score are delinquencies and debt-to-income ratio.

What You Can Do To Immediately Improve Your Score

• Check the entries: Make sure any debts or delinquencies listed are true. Report any errors.  
• Pay off debts: But do not close accounts. Having available credit is good as long as it doesn’t look like you’re over-extended by having your credit maxed out. The lender may worry that you’re living off your credit and can’t afford your bills.

If you would like more tips on how to improve your chances of getting a loan to buy one of the Fairfax County VA homes for sale, I can help. 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

The real estate market is shifting toward some definite trends that may affect your Fairfax County VA home for sale.  Since 2006, the median cost of a home has dropped almost 30%. The good news, according Moody’s Economy.com, is that most of the nation’s metropolitan areas are expected to see less than a 5% drop in prices a year from now. Even better news, 10% are expected to see modest increases. 

If you have one of the Fairfax County VA homes for sale, keeping an eye on the trends can greatly increase your chances of selling, no matter what the area. Here are two of the biggest trends:

Trend #1:  Home Prices Staying Down
Home inventories are slowly creeping back up, and another 3 million distressed homes are expected to be foreclosed on this year. As well, one-fourth of current homeowners are now underwater with their mortgages, and 18% of borrowers are choosing to walk away. In short, stressors on the current housing market may very well push national median prices down another 5%, as mentioned above.

How can I take advantage?
With the glut of foreclosed homes, they’re likely to be your highest competition.  That means competing in price could be disastrous. Instead, play up the advantages of your home. For instance, foreclosed homes may need a lot of fixing up.  To compete, make sure your home is inspected and fixed up before it’s listed. Once you know there aren’t a lot of problems add a one-year warranty for the buyer that covers fixes such as the furnace or water heater. It’s inexpensive and may very well make the difference in how quickly and at what price you sell your home.

Trend #2:  Small Homes Selling Faster Than Large Homes
Larger, more expensive homes now have a 20-month backlog in inventory. They cost more and require a larger financial commitment. According to the National Association of Home Builders (NAHB), the median home size dropped from 2,300 to 2,100 square feet since 2007.

How can I take advantage?
If you have a large home, don’t wait until prices dip further; put it on the market now. The major key to getting it sold now is price.  Keep the price competitive, and start out low enough so that you won’t have to drop the price more than once. This is a red flag for buyers.

If you have a smaller Fairfax County VA home for sale, you’re already set to take advantage. People also want to lower their energy bills, which usually happens with a smaller home.  Market these advantages for a better chance of selling.

If you want to sell your home, it helps to keep up with the housing trends and look at each one to see how you can take advantage of it.

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

Surprising numbers of potential homebuyers are holding off on buying Fairfax County VA homes for sale. They see the housing prices drop and are waiting for them to go lower. They see the mortgage rates and are waiting for them to drop further. If this is you, you might want to rethink your strategy and take a real look at potential Fairfax County  homes.  

Here are two crucial reasons why you might not want to wait any longer:

1. Interest Rates on the Rise – Thanks to the Federal Reserve buying $1.23 trillion worth of mortgages, interest rates have been kept somewhere between 4.93% and 5.09% for a 30-year fixed-rate loan.  That’s about 0.4 % lower than it might be without the Fed’s help. However, by the end of 2009, the Federal Reserve had already started implementing a phase out of the mortgage program.  With the Fed program closing at the beginning of this month, it’s not a question of whether mortgage rates will rise, but when, how much and how fast.  The experts don’t expect them to climb very high, stopping somewhere between 5.5% and 6% by the end of 2010.
2. Lower Home Prices – Home prices, predicted to drop another 5% in 2010, will also make some difference in overall cost. Putting the falling home prices together with the currently low interest rates, you still have a chance to get a great home at a great deal – for a little while longer.

Instead of waiting for lower costs that may never come, consider where you are now:

• Do you have good credit?
• Are you pre-approved (not pre-qualified) for a mortgage loan?  
• Do you know how much home you can afford?
• Are you certain (or as certain as you can be) of your job stability?

It’s very possible that the market will never be better than it is right now for buyers. It’s a buyers’ real estate market, with the scales tipped to make homeownership as cheap as it can get. If you can afford to buy now, but are waiting for things to get even better, reconsider – you might wait yourself into a market you can no longer afford!

Ready to take advantage of this buyers’ market and purchase one of the Fairfax County VA homes for sale? I can help. 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

Buying one of the Fairfax County VA homes for sale can be a challenging process. Along the way you will experience a wide range of emotions. No matter how strongly you feel that you are alone, rest assured that most buyers feel the same way. Here’s a peek at what you can expect when…

• Looking for homes. Creating a wish list for a house that fits within your budget can cause the initial signs of stress. Once that list is created, a new panic may settle in as you wonder if you will find the right Fairfax County VA home for sale that is within that budget. Expect this panic to increase as you look at more homes.
• Presenting an offer. No one wants to be rejected, even if it’s about property. Remind yourself that it is perfectly normal to worry about getting an accepted offer and that the sellers are also experiencing a similar feeling of woe at this point. Both sides want the same thing: a signed contract.
• Signing the contract. Once the contract is signed, a new panic may set in. You may wonder if you got a fair price or if you chose the right property for you. From this point until closing day, you will think about this decision and about all the changes before you. Moving means finding new stores and restaurants and new roads to work.  This is called buyer’s remorse.   Just remember, it’s a common phenomenon that you’ll get through it.
• Closing. Once the papers are signed and the check has been turned over to the title company, a sense of finality takes over. You know that there is no turning back at this point and may still wonder if you made the right decision. Again this is perfectly normal and happens to almost everyone.

Don’t navigate the home buying waters on your own. Let me help you find the Fairfax County VA home for sale that is right 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

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

The FHA, or Federal Housing Administration, has helped many a homeowner buy one of the Fairfax County VA homes for sale by providing mortgage insurance through FHA-approved lenders. However, a change in policy, announced in January, may make it harder for those with poor credit.

Before we talk about FHA’s change in policy, let’s cover a few of the basics about the FHA and how it might help you buy a Fairfax County VA home for sale.

What is the FHA?
The FHA is a government agency that provides mortgage insurance to approved lending institutions.  It assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults.  This encourages lenders to make loans to borrowers who might otherwise not be able to get a loan.

What is an FHA Loan?
An FHA loan is a loan provided by an FHA-approved lender and insured by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. Because of this guarantee, lenders are willing to make mortgage loans.

An FHA loan might help you get a mortgage by providing:

• Lower down payments
• Lower closing costs
• Easier credit qualifications

Now let’s talk about the changes FHA is making…

The Future of FHA Loans
Until recently, the FHA has managed to weather the real estate turmoil rather well. In fact, the turbulence surrounding other lenders had potential homebuyers flocking to take advantage of FHA loans. However, even FHA’s bank account is starting to suffer. In order to shore up capital reserves and keep 34 million families in their homes, the FHA is changing the rules.

Before the changes, borrowers were required to pay a down payment of 3.5% of the cost of the home. Now, borrowers with a credit rating below 580 will be required to pay at least a 10% down payment. As well, the good upfront mortgage insurance premiums of 1.75% are increasing to 2.25%. The FHA is now trying to get Congress’ approval to raise the annual premiums from 0.55%, although the amount it will seek is still unknown.

What This Means for You
If you’re interested in buying one of the Fairfax County VA homes for sale, but haven’t because you’re waiting for the market to bottom out, you may end up losing out on a great deal. With almost record low mortgage rates, home values lower than they’ve been for eight years, the first-time and upgrade homebuyer tax credits and a wide selection of homes, there may never be a better time to buy.

Whether you want to use an FHA loan or a traditional loan, I can help you cash in on this great buyer’s market. 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