Prince William County Real Estate Blog

They don't ask enough questions of their lender and miss out on the best deal. They don't act quickly enough to make a decision and someone else buys the house. They don't find the right real estate professional who is willing to help you through the homebuying process. They don't do enough to m...

FHA Responds To Short SalesA Special Industry Update This update contains information about FHA's response to short sales as published in Mortgagee Letter 09-52. Here are the 5 things you need to know about these changes: Changes are effective immediately. Borrowers are NOT eligible for new FHA f...

In the Northern Virginia area we are seeing more and more multiple offer situations.  It is becoming more of a seller's market and less of a buyers market.  Home prices are inching upwards in many subdivisions. To increase your chances of getting your dream home instead of losing it to another bu...

Now that the new year is approaching, many people think about placing their home on the market. Making  your home more appealing for potential buyers will help you sell quicker and at a higher price. In preparation for this event, here are some low cost ways to spruce up your home.   Paint rooms ...

The following questions can help you determine if moving up does in fact make sense: Do you have enough cash for a down payment on a new home? Have you spoken to a lender to find out what loan programs are available to you and what the downpayment will be? Conventional loans can require 20% downp...

While your specific opinions may change during the homebuying process, use this easy checklist to help you prioritize and make the shopping process less time consuming.  How close do you need to be to: (a) public transportation ______ (b) schools _______ (c) airport _______ (d) highway_______ (e)...

As the temperatures begin to plumet it's time to start thinking about preparing your home for winter temperatures.  After all we don't want a pipe to burst and ruin everything or the heat to not work when it's freezing outside.   So much easier to prepare than deal with the consequences later. He...

Loan Modification: Typically, banks are offered incentives to modify a loan to a fully amortizing, fixed rate program with a payment that does not exceed 31% of the gross household income. This can be accomplished by lowering the interest rate to as low as 2% and stretching repayment out to as lo...

Did you know that Help Is Free! Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan. Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid commo...

Homebuyer Tax Credit Update! On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time. To learn what the new tax credit means t...