real estate: A Look Back at Real Estate in Northern Virginia in 2009
- 01/19/10 05:46 AM
From my personal experience, all I can say is that from April until December this market has seemed to me like the Wild West! Because of the First Time Home Buyer’s $8,000 tax credit, combined with historically low interest rates and home prices way down, there have been many more new people becoming first time home buyers. However, dealing with the different situations of buying bank owned homes or short sales, changing rules for appraisers for Conventional loans(HVCC), have brought quite a few interesting and at times, very stressful (but exciting!) situations
Now, the tax credit has been extended to … (0 comments)
real estate: Getting Lender Approval for a Short Sale From Chase-Please share your experiences
- 12/31/09 01:41 AM
If possible, I try to steer my buyers away from short sales, although I've had success with a few that closed this summer successfully-although not always smoothly. One of them had a last minutes surprise-a third lien appear during the title search! I thought, after the experience of that one finally closing successfully, putting an offer on a home with only one loan should be a piece of cake. Also, there is so much competition for lower priced homes in Fairfax County. All of the foreclosures had multi offers $20-30,000 over list price-outbidding my clients. Of course, in this one my … (0 comments)
From my personal experience, all I can say is that from April until December this market has seemed to me like the Wild West! Because of the First Time Home Buyer’s $8,000 tax credit, combined with historically low interest rates and home prices way down, there have been many more new people becoming first time home buyers. However, dealing with the different situations of buying bank owned homes or short sales, changing rules for appraisers for Conventional loans(HVCC), have brought quite a few interesting and at times, very stressful (but exciting!) situations
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