Debbie Malone - Lynchburg Virginia Real Estate Blog

JUST REDUCED! Country Home in Amherst County with FIVE Acres and a Huge Garage $309,900

Mon, 06 Jul 2009 12:34:22 -0500

Photo Gallery

Great Room with Fireplace	Large Kitchen with Stainless Appliances	Breakfast Nook with Tiffany Style Lighting
Formal Dining Room	30 x 60 Garage	Five Acre Property in Amherst County
Ultimate Man Cave!	Tree House for the Kids

Description

Looking for a country home with acreage? Make an offer on this beautiful home featuring a country porch overlooking five acres in Amherst County. Hardwood flooring throughout the main level, a large eat in kitchen with stainless appliances, breakfast bar and nook with bay overlooking the backyard. Formal dining room and living room and the great room features a gas log fireplace and opens to a large deck. So many possibilities in the HUGE Garage & workshop with storage room up. The kids will love the tree house and creek and there are plenty of woods to explore.

Features

Bedrooms:	3
Bathrooms:	2.5
Parking Spaces:	8
Year Built:	2004
Subdivision:	Meadowbrook
Lot Size:	5 acres
Garage Size:	60X30
School District:	Amherst
Square Footage:	2119
Agent Name:	Debbie Malone
Broker:	RE/MAX 1st Olympic
MLS #:	249211

Location

160 Farrar Court Madison Heights VA 24572

vFlyer Id: 2437119

Classic Fort Hill Home in Lynchburg Virginia with FIVE Bedrooms only $199,900

Tue, 16 Jun 2009 07:47:01 -0500

Debbie Malone | RE/MAX 1st Olympic | (434)546-0369

4400 Hilltop Drive, Lynchburg, VA

5BR/2BA Single Family House

offered at $199,900

Year Built	1925
Sq Footage	2,355
Bedrooms	5
Bathrooms	2 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	10,640 sqft
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Living room	Bonus/Rec room
Office/Den	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Microwave	Granite countertop	Stainless steel appliances
Attic	Basement	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Garage parking	Guest parking	Laundry on-site
Storage space(s)

ADDITIONAL PHOTOS

Classic Home in Fort Hill	Five Bedrooms & Home Offi
Living Room with Attached	Formal Dining Room
Beautifully Updated Kitch	Wine Bar

Contact info:

Debbie Malone

RE/MAX 1st Olympic

(434)546-0369

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 16, 2009, 4:41am PDT

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JUST REDUCED! Three Bedroom, Two Bath Brick Ranch in Lynchburg, VA $169,900

Tue, 16 Jun 2009 07:34:30 -0500

Debbie Malone | RE/MAX 1st Olympic | (434)546-0369

712 Mohawk Dr, Lynchburg, VA

3BR/2BA Single Family House

offered at $169,900

Year Built	1958
Sq Footage	1,488
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Uncovered spaces
Lot Size	Unspecified
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Fireplace	Hardwood floor	Family room
Living room	Office/Den	Dining room
Dishwasher	Refrigerator	Stove/Oven
Attic	Basement	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Guest parking

ADDITIONAL PHOTOS

Brick Ranch in Sandusky	Family Room, Gas Log FP
Formal Dining Room	Living Room, Gas Log FP
Updated Kitchen	Large Sun Room

Contact info:

Debbie Malone

RE/MAX 1st Olympic

(434)546-0369

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 16, 2009, 4:06am PDT

Nice Brick Ranch JUST REDUCED - 516 Oakridge Blvd, Lynchburg, VA 24502 $127,900

Mon, 15 Jun 2009 09:36:56 -0500

Debbie Malone | RE/MAX 1st Olympic | (434)546-0369

516 Oakridge Blvd, Lynchburg, VA

3BR/2BA Single Family House

offered at $127,900

Year Built	1953
Sq Footage	1,335
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Uncovered spaces
Lot Size	0.16 acres
HOA/Maint	$0 per month

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Family room	Living room
Dining room	Refrigerator	Stove/Oven
Attic	Basement	Laundry area - inside
Yard

COMMUNITY FEATURES

Covered parking

Guest parking

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 1

Contact info:

Debbie Malone

RE/MAX 1st Olympic

(434)546-0369

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 15, 2009, 4:25am PDT

This is a cute three bedroom, two bath brick ranch in move in condition with recent upgrades including a new heat pump, electric hot water heater, replacement windows and K-Guard seamless gutters. Off street parking, gas log fireplace in living room, hardwood flooring throughout main level. Large den, workshop and storage in basement. REDUCED to $127,900.

This is Why We Groom OUR Dog...............

Fri, 15 May 2009 09:31:16 -0500

So the very next day he can dig for the chipmunks that taunt him! Ten minutes in the yard, an hour in the tub, and he's still orange.

If your dog needs grooming, I highly recommend the excellent services of Camp Bow Wow in Forest, VA. These folks love animals and they also offer boarding, short and long term at reasonable rates. Duncan loves to visit and he always comes home with a new bandana and a little treat. Located on Route 221 (halfway to Bedford). For more information, contact:

Camp Bow Wow

Route 221
Forest, VA 24551
434-525-5672

NEW LISTING- Beautiful FIVE Bedroom Home in Fort Hill, Lynchburg, VA $199,900

Wed, 06 May 2009 06:59:52 -0500

Photo Gallery

Beautifully Landscaped Corner Lot	Living Room with Gas Log FIreplace	BEAUTIFUL Kitchen with Granite
Uplighting, Tiffany Style Lighting, Pantry	Formal Dining Room	One of FIVE Bedrooms
Upstairs Office with Private Porch	Upstairs Hall

Description

This is a quality built FIVE bedroom home with charming features you don't often see. Located in Fort Hill, the current owners have lovingly restored and upgraded this spacious home on a landscaped corner lot- you can move right in. Includes a large living room with oak flooring, gas log fireplace and a private side porch, a formal dining room with french doors and a wine bar that overlooks the backyard. Beautiful period style kitchen with granite countertops, stainless appliances, tiffany style lighting, tin ceiling, uplighting, walk in pantry and a back porch to enjoy that first cup of coffee. Main level bedroom or office, wide staircase leads upstairs where there are four more bedrooms and an office with another porch overlooking the backyard. Full basement with exterior exit, lots of storage. Upgraded two zone heat pump and back up gas heating. Detached two car garage and off street parking. Once you walk into this home you will fall in love.

Features

Bedrooms:	5
Bathrooms:	2
Parking Spaces:	4
Year Built:	1925
Subdivision:	Fort Hill
Lot Size:	80 x 131
Garage Size:	2
School District:	Lynchburg
Square Footage:	2355
Agent Name:	Debbie Malone
Broker:	RE/MAX 1st Olympic
MLS #:	249796

Location

4400 Hilltop DRive Lynchburg VA 24502

vFlyer Id: 2483911

NEW LISTING- Home with HUGE Detached Garage/Workshop on 5 Acres in Amherst County, VA

Sat, 18 Apr 2009 14:15:48 -0500

Photo Gallery

Great Rppm with Fireplace	Large Kitchen with Stainless Appliances	Breakfast Nook with Tiffany Style Lighting
Formal Dining Room	30 x 60 Garage	Five Acre Property in Amherst County
Ultimate Man Cave!	Tree House for the Kids

Description

This is a beautiful home with a country porch overlooking five acres in Amherst County. Hardwood flooring throughout the main level, large eat in kitchen with stainless appliances, breakfast bar, a formal dining room and living room. Great room with gas log fireplace opens to a large deck. HUGE Garage & workshop with storage room up. The kids will love the tree house and creek and there are plenty of woods to explore.

Features

Bedrooms:	3
Bathrooms:	2.5
Parking Spaces:	8
Year Built:	2004
Subdivision:	Meadowbrook
Lot Size:	5 acres
Garage Size:	60X30
School District:	Amherst
Square Footage:	2119
Agent Name:	Debbie Malone
Broker:	RE/MAX 1st Olympic
MLS #:	249211

Location

160 Farrar Court Madison Heights VA 24572

vFlyer Id: 2437119

Remembering The Victims of Virgina Tech - April 16

Thu, 16 Apr 2009 06:41:08 -0500

Please take a moment to remember the 32 victims and families of the Virginia Tech tragedy who died two years ago today:

Ross A. Alameddine
Christopher James Bishop
Brian Roy Bluhm
Ryan Christopher Clark
Austin Michelle Cloyd
Jocelyne Couture-Nowak
Kevin P. Granata
Matthew Gregory Gwaltney
Caitlin Millar Hammaren
Jeremy Michael Herbstritt
Rachael Elizabeth Hill
Emily Jane Hilscher
Jarrett Lee Lane
Matthew Joseph La Porte
Henry J. Lee
Liviu Librescu
G.V. Loganathan
Partahi Mamora Halomoan Lumbantoruan
Lauren Ashley McCain
Daniel Patrick O'Neil
Juan Ramon Ortiz-Ortiz
Minal Hiralal Panchal
Daniel Alejandro Perez
Erin Nicole Peterson
Michael Steven Pohle, Jr.
Julia Kathleen Pryde
Mary Karen Read
Reema Joseph Samaha
Waleed Mohamed Shaalan
Leslie Geraldine Sherman
Maxine Shelly Turner
Nicole Regina White

We will continue to invent the future through our blood and tears and through all our sadness.... We will prevail....

-- Nikki Giovanni, University Distinguished Professor, poet, activist

Wordless Wednesday - Sunset in Key West

Wed, 08 Apr 2009 06:04:39 -0500

NEW LISTING- 712 Mohawk Dr - Large Brick Ranch in Lynchburg, VA - Sandusky Schools

Tue, 07 Apr 2009 09:29:02 -0500

Photo Gallery

Description

This is a nicely maintained three bedroom, two bath ranch in the Sandusky area of Lynchburg. Gas log fireplaces in the living room and den, formal dining room with built in china cabinet, beautiful hardwood flooring on most of the main level. Updated kitchen with Maytag Gemini gas stove and new vinyl flooring. A bright sun room off of the kitchen with access to the fenced backyard. Full basement with large laundry room, huge family room and separate storage room. One car garage with keypad entry. FIRST TIME HOME BUYERS- take advantage of the $8,000 tax credit!

Features

Bedrooms:	3
Bathrooms:	2
Parking Spaces:	3
Year Built:	1958
Subdivision:	Sandusky
Lot Size:	50 acres
Garage Size:	1
School District:	Sandusky
Square Footage:	2400
Agent Name:	Debbie Malone
Broker:	RE/MAX 1st Olympic
MLS #:	248822

Location

712 Mohawk Dr Lynchburg 24502

vFlyer Id: 2406146

Sangria Saturdays at Savoy-Lee Winery, Huddleston, VA

Fri, 27 Mar 2009 09:20:06 -0500

Just received from David, in time for this weekend! This is a beautiful time of year to visit Smith Mountain Lake.

Savoy-Lee Winery

                        SANGRIA SATURDAYS

            EVERY SATURDAY IN APRIL
                                 12pm - 5pm


      Complimentary Wine Tasting & Winery Tours


        Light Snacks


We will be sampling our Blush Sangria - fresh fruit makes it sooooo refreshing. Bring some friends and lunch basket to enjoy with a bottle of Savoy-Lee wine while enjoying the
SPRINGTIME RAIN OR SHINE!

*************************************************************

Our Veterans and those who are still serving always receive a 10% discount and a THANK YOU for your service to our country.

*************************************************************

Looking for a new Fun Party, Bridal Shower, or off-site corporate event?

Throw your own Wine tasting Event
at Savoy-Lee Winery in our beautiful, rustic tasting room.

We provide wines for tasting, winery tours and great atmosphere.

You provide your friends and family to experience the warmth and

camaraderie of a Fun Spirited Party.

Schedule an after-work get together at the winery!

Call to reserve your date.

CALL US 540 297-9275

Savoy-Lee Winery

5800 Johnson Mountain Road

Huddleston, Virginia 24104

540 297-9275

Driving directions from various locations:
(Click here to get detailed directions from your starting address)

From Lynchburg:
Take Route 460 West toward Roanoke. Turn left on Route 811, near the Sheetz gas station. Continue straight on this road and turn right on Route 24. Turn left on Route 627, Preston Mill Road. Turn right on Johnson Mountain Road. The winery is about 1 mile on the left side of the road.

From Roanoke:
Take Route 24 East. Turn right on Route 43. Turn left on Route 626, Smith Mountain Lake Parkway.The road name changes to Johnson Mountain Road. After passing the Route 626/628 intersection, the winery is about 2 miles on the right side of the road.

From Bedford:
Take Route 43 South. Turn left on Route 626, Smith Mountain Lake Parkway. The road name changes to Johnson Mountain Road. After passing the Route 626/628 intersection, the winery is about 2 miles on the right side of the road.

Community Involvement: The Forest Lions Club, Forest, VA

Thu, 26 Mar 2009 15:08:27 -0500

If you are looking for a way to get involved and make a difference in the Forest community, consider joining the Forest Lions Club.

Lions Club International Mission Statement: "To create and foster a spirit of understanding among all people for humanitarian needs by providing voluntary services through community involvement and international cooperation."

The Forest Lions Club was chartered in June 1973... 35+ years of dedicated service by caring individuals... men and women, giving freely of their time and talent to improve the lives of others in our community and globally. The Forest Lion Club serves the local community in many ways:

· Eye exams and eye glasses

· Collect used eye glasses

· Hearing exams and hearing aids

· Forest Youth Athletic Association

· Forest Volunteer Fire Department

· Campbell County Rescue Squad

· Forest Community Sign

· Salvation Army

· Yearly vocational scholarships

· Jefferson Forest after prom party

· Food Baskets for the poor

· Bateman Bridge Road Cleanup

The Forest Lions Club holds two fundraising events, the annual Christmas Tree Sale and it's annual Raffle. The new Forest Volunteer Fire Department currently under construction on Route 811 in Forest is one of the projects funds will go to.

Won't you join us???

Monthly Meetings: Second Tuesday of Each Month at

7 p.m. (social time 6:30) at Twin Oaks Restaurant

12175 Forest Road (Route 221) Forest, VA 24551

The Forest Lions Club

Post Office Box 834

Forest, Virginia 24551

For more information contact:

Dallas Scott, Past President

(434) 525-8496

John Wilkins, Secretary

(434) 944-6254

Wordless Wednesday--- South Florida Clouds

Wed, 18 Mar 2009 06:28:46 -0500

Happy St. Patrick's Day 2009!

Tue, 17 Mar 2009 08:19:26 -0500

Cead Mile Failte' - A Hundred Thousand Welcomes.

Happy St Patrick's Day! My family and I were fortunate enough to travel to Ireland several years ago. We were so happy to visit the home of our great-grandparents. Ireland is a beautiful country whose population is increasing and economy had been thriving (prior to the current economy). I often think of our ancestors who left during the famine with the hope of a better life in Canada and America. My husband's family and mine were from County Cork .

Even if you're not Irish by birth (Like St. Patrick himself), get into the spirit and wear some green today!

At Blarney Castle, My daughter Megan getting ready to kiss the Blarney Stone

View of the Bay in Cobh, formerly Queenstown, last stop for Titanic

In Dublin, make a stop at Dublin Castle and Trinity College. The Book of Kells is on display here. There is a bronze statue of Molly Malone on Grafton Street.

Waterford is famous for its crystal, you'd love the Belleek and Royal Tara china and Blarney Woolen Mills is a wonderful place to find a wool sweater. Check out Irish Customs and Culture. For Irish Sayings, click here.

The next time I go to Ireland I'd fly into Kerry instead of Dublin. The Ring of Kerry is my favorite area in Ireland, heaven on earth it's so beautiful. You have to see Muckross House and Abbey, the grounds are terrific.

I'm a huge movie buff so we had to drive to the village of Cong, in County Mayo. Many of the scenes from The Quiet Man were filmed here. Check out Ashford Castle. The movie was filmed on the South West Coast of Ireland in 1952. Many of the movie's cast members stayed and dined at Ashford Castle, including John Wayne and Maureen O'Hara.

The Reverend's House & Fishing Spot from the movie

Happy St. Patrick's Day
and may God Bless you!

Celebrate Historic Garden Week in Lynchburg, Virgina, April 21, 2009

Thu, 12 Mar 2009 22:46:44 -0500

Historic Garden Week in Lynchburg, Virginia

This is one of my favorite ways to spend a spring day in Virginia- attend the open houses on Historic Garden Day. Tour the immaculately landscaped grounds then tour the inside of some of Lynchburg's most beautiful homes. This year, Garden Day is scheduled for Tuesday, April 21, 10 a.m. to 7 p.m. Lynchburg's Garden Day is sponsored by:

The Hillside Garden Club
The Lynchburg Garden Club

For information or directions, contact:
The Lynchburg Chamber Visitor's Information Center
Telephone (434) 847-1811

TICKETS: Full tickets $20, single-site admission $8. Full ticket for minors 6-12 years old $10 and $4 for single-site admission. Children 5 and under admitted free of charge. The day of the tour, tickets will be available at each home. Advance tickets may be ordered with a credit card at an additional charge by accessing http://www.vagardenweek.org/.

LUNCHEON: BOX LUNCHES: Eat-in or carry-out lunches are available at Oakwood Country Club from 11 a.m. to 2 p.m. at a prepaid cost of $10. Advance reservations are required by calling Sarah Kibler at Oakwood (434) 384-8181 ext. 100.

Look for the special Garden Week insert in The News and Advance for more information on the private homes that will be open. The following historic homes and sites will also be open:

FOURTH AND TAYLOR STREETS - THE CHAPEL AT THE OLD CITY CEMETERY. (Will be decorated as if a Victorian Wedding is scheduled)

GARDEN CLUB OF VIRGINIA RESTORATIONS IN THE LYNCHBURG AREA:

POINT OF HONOR. 112 Cabell Street. Open 10 a.m. until 4 p.m. Beautifully restored, admission on April 21 is free of charge with a Lynchburg Garden Day ticket.

SWEET BRIAR HOUSE. Located on Rt. 29, 12 miles north of Lynchburg. Open 10-4, no admission charge.

Would you like more information about Lynchburg or the surrounding area? Contact me or call at (434)546-0369

Low Cost Home Improvements When Selling Your Home

Wed, 11 Mar 2009 20:34:40 -0500

Spring is a busy time in the Real Estate Market. Bill Gassett has written an excellent post on preparing your home for sale:

Via Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty):

In a very competitive Real Estate market one of the things that is vital to your success is how well your home shows in relation to the rest of the inventory for sale. There are quite a few simple things that you can do to improve your chances and maybe put a few extra dollars in your pocket at the same time.

Maybe you are not even thinking about selling your home right now. When the time comes, however these lost cost improvements could make a difference.

1st impressions are always important so you want to make sure the entry to your home shines. As the buyer approaches the front door the last thing they want to see is an old worn door with cob webs hanging from above.

Most buyers are going to assume right of the bat if the home is not well maintained on the exterior, the interior will not be much better.

The Entry Way

Painting the front door or even replacing it if it is beyond paint can make a real difference. A nice shiny door set always stands out as well.

If you have vinyl siding and you have not cleaned it in a while mildew, dirt and grime can accumulate. Giving it a quick spray can surprisingly make a big difference in the appearance.

Plant Some Color

When selling your home planting some flowers around the entry can really make your property come alive. Choose a variety of colors that really stand out.

Adding a few potted plants if you have a covered entry or a large enough stoop is always a nice touch as well.

Fix Up The Baths

While remodeling a bath is one of the highest returning home improvement projects it may not be in the budget at the moment.

If however, you still have your gold toilets and sinks from the 70's it may be time to let go and move on the something that 99% of the population would like better.

Have a gold shower too? There are lower cost alternatives to ripping out the shower. There are specially made bath fitters that are designed to be put over a shower. New faucets are another lower cost item that can make a difference. At the moment silver/nickel is back in and brass is less popular.

Changing towel ranks, toilet paper holders and shower heads are also nice touches for short money.

Paint Those Walls

Painting is one of the cheapest most effective improvements you can make in your home especially if the colors are not neutral to begin with. I know you love the pink entry way and purple bathroom but most buyers will not.

I know what your thinking painting is cheap...the buyer can just do it themselves. Most people think this way, however, there is a large part of the population that does not have any vision. They need to see it done.

Painting your home off white or if you want to be slightly more bold in earth tones, is the best way to go. When selling your home all decisions should be done to appeal to the masses.

Address the flooring

A little more expensive but one of the better returning investments especially if you are still hanging on to the orange shag.

Even if you have more modern carpet but just don't have enough in the budget for new carpeting, a good cleaning by a professional can help out dramatically. The same can be said for wood floors as well.

A good scrubbing can go a long way.

Clean Your Windows/Treatments

Cleaning your windows can really spruce up your home especially if they have not been done in a while.

A bright home always shows far better than a dungeon. Removing heavy drapes and curtains can help as well, especially if they are out of date.

It is far better to have nothing than to have a pattern that was popular in the 80's.

Change Old Lighting

Lighting is one of those things that are subtle but believe me a buyer will notice if the lighting is really dated.

There are some great lights that can be purchased rather cheaply in many lighting stores especially if they are looking to restock their shelves with the latest model.

Even little things like upgrading to brighter bulbs can help. Most home buyers are turned off by dark unlit rooms.

Although a little more expensive to add, recessed lighting can really change the level of lighting in a room. Recessed light work really well in kitchen and baths.

Declutter Your Home

This one can really go a long way. Buyers like spacious rooms that they can envision their own belongings in. Getting rid of things that you know you will not be taking with you can really change the appearance of your home.

Hold a yard sale for those items that still hold value. Have other things you know you want to take with you but know they spoil how well your home shows? Get a PODs (portable storage on site) or even consider putting your stuff in a short term storage facility.

Not every improvement has to be expensive. Sometimes it is the small things you do that make the biggest difference in a buyers mind.

Have an interest in knowing what some of the more expensive home improvements return on your investment? See:

Best remodeling projects cost v.s value for your home

Getting ready to put your home on the market? Here are some other important articles that discuss the home selling process and how to increase your chances of success:

Preparing your Massachusetts home for the Spring selling season

Top ten mistakes to avoid when selling your Massachusetts home

Selling your home in a buyers market

______________________________________________________________________________________________________

About the Author: The above Real Estate information on Low cost improvements when selling a home was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

The Confusing world of PMI, Simplified

Mon, 09 Mar 2009 23:21:30 -0500

Buyers aren't alone if they're confused about PMI. Robert has written an excellent tutorial on the subject:

Via Robert Rauf (REMN The Real Estate Mortgage Network):

The new world of Private Mortgage Insurance. (PMI)

Over the past few years we have seen so many changes in the mortgage world, the most obvious one is the return of PMI. We spent years doing loans with piggy back seconds cheating the system into thinking that there was 20% down. The days of the 80-10-10 are gone, and the days of the High LTV second are gone as well.

PMI at one time was a simple thing. Most of us that have been in the business for more than 10 years can quote you what it was for a 5% or 10% down deal "way back when".Times have certainly changed as PMI has become a moving target and the cost of PMI fluctuates not only with down payment, but with credit score and property type as well. PMI changes have caused Guideline changes for Mortgage programs and have been causing a lot of confusion in the industry.

There are 6 major players in the Private Mortgage Insurance world and each has their own guidelines. The list below is a snapshot of what can and cannot be done with PMI, and in some cases what is only a "maybe" when you see only 2 of the 4 companies doing certain loan types now, I would not doubt that they will change their minds fairly quickly and not want to be adversely selected. Here are the bullet points:

PMI and Credit Scores:

2 of the 6 Companies have a minimum credit score of 680

1 has a 660 minimum score

3 allow below 660, BUT "subject to expanded criteria rates or to Nonstandard rates" (That means OUCH!)

PMI and Ratios:

3 of the 6 companies have maximum back end ratios (or DTI Ratios) of 41%

3 max out at 45

(DTI: Debt to income, so the mortgage payment + Debt can be equal to no more than 41 or 45% of the gross Monthly Income)

PMI and Condos

4 of the 6 companies require at least 10% down on condos

2 allow for 5% down, but in each case SIGNIFICANT restrictions apply. Each PMI company has their own list for declining markets which may increase the minimum down payment.

PMI and Second/Vacation Homes:

4 of the 6 companies will not insure Second homes

2 Require 10% down

1 requires Minimum 720 credit score

None allow second homes in Declining markets

"Significant restrictions apply"

BEWARE THE IDES OF MARCH! March 15 all PMI companies are dropping second homes. There is rumor that one company will continue with 15% down for their premier lenders, but that is yet to be seen.

PMI and Investment properties:

Not eligible AT ALL for any of the PMI companies

PMI and the new loan limits above $417,000:

All 6 require a Minimum 10% down

2 require a minimum credit score of 740

2 require a minimum credit score of 720

2 require a minimum credit score of 700

PMI and Multi Family Homes:

3 of the 6 companies Allow 2 Family owner occupied at 5% down with a 680 Minimum credit score

3 do not allow 2 family homes at all

3&4 Family homes are not eligible at all for PMI with any company

The above are just the bullet points we all run across every day. There are additional restrictions for each level, and if your market happens to be considered a declining market... Look Out! The minimum credit scores go up, and they are requiring larger down payments as well. PMI guidelines are changing frequently, more than likely companies will continue to tighten their guidelines as we move forward until things get more "normal" and we stop hearing the "F" word.

There is the bright side to this story, FHA. Do not shy away from an FHA loan. Here are a few quick comparisons:

FHA's MIP (Mortgage insurance premium) does not change based on credit score

FHA has a discount on MIP at 5% down

FHA allows as little as 3.5% down (USDA loans allow for less, but not common in all areas)

FHA MIP is often MUCH cheaper than PMI

FHA has more flexible ratios, and more flexible credit score requirements

FHA Loans will not have a huge interest rate add on for Low credit scores (conventional loans can have significant interest rate add ons beginning with credit scores below 740)

I could continue this FHA list but that would be an entirely different blog!

Bottom Line: Less than 20% down, there willbe PMI, in some cases there may even be PMI with 20% down. There are not any sustainable options to avoid PMI these days. A few lenders do still allow Lender funded (IE: Higher Rate)but you are still paying for PMI; you just do not see it. Also, do not be surprised if you have a buyer with 20% down and we recommend they go FHA. A 660 Credit score, (or worse a 659), will often be much better off with an FHA loan VS a conventional loan. Make sure you are working with a Trusted lending PARTNER to be sure they have your clients best interests in mind, and are aware of the ever changing mortgage world.

Have a great week!

Rob

Robert Rauf

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Real Estate Mortgage Network

NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey

Buyer Q & A: What Type Of Loan Do I Qualify For? Let's Look At FHA

Sat, 07 Mar 2009 17:28:17 -0600

There are several loan options available to home buyers and your lender will be able to explain and review each program with you. THIS IS A SIMPLIFIED overview of the FHA program for you to consider. PLEASE VIEW THE VIDEO I'VE INCLUDED ON THE FHA PROGRAM.

The Dept of Housing and Urban Development oversees the Federal Housing Administration. An FHA loan is one that is insured by the government and the program helps first time buyers who otherwise may not qualify for a loan.

Whether you're a first time home buyer, a move up buyer or are refinancing, FHA allows you to purchase a home with a low down payment and flexible fha guidelines. No income limits or credit scoring, as long as you have reasonable credit many buyers will qualify for an FHA loan.

Getting pre-qualified is the first step in finding your new home. You'll need to verify income, employment, assets, liabilities, etc. Some of the documentation you may need include:

Purchase Money Transaction as required by HUD:

· One full month's worth of paystubs showing Year to Date earnings

· Last 2 years W-2's (salaried income)

· For Self Employed Borrowers; Last 2 years tax returns with all schedules (commission, dividend, rental income)

· Copies of social security, pension, and/or retirement award letters (if applicable)

· Last two months bank statement for all accounts with all pages

· Current statements for all investment accounts with all pages

· Written explanation for any credit derogatories

· Copy of Bankruptcy and discharge paperwork (if applicable)

· Divorce decree and any settlement paperwork (if applicable)

· Copy of your Drivers License and Social Security Cards.

· Name, Address and phone number of your Landlord for the past 12 months.

· Copy of your Sales Contract with Listing and Selling Agent phone Numbers

· Clear Termite Report

· Well and Septic Certifications (if applicable)

I'M READY TO BUY A HOME. WHAT IS MY FIRST STEP?

CALL YOUR LENDER TO SCHEDULE AN APPOINTMENT- before you start your home search. There's nothing worse than finding the home of your dreams only to be disappointed when you don't qualify to purchase it.

CONTACT A REALTOR (R) WHO IS AN ACCREDITED BUYERS AGENT. An ABR Realtor has gone through extra certification to earn the designation and will represent your best interest in the home buying process.

I'LL GET PRE-QUALIFIED BEFORE I MAKE AN OFFER. Many sellers require a pre-qualification letter to be submitted with all offers on their home. If two offers were presented to a seller and one included a pre-qual, it gives more weight to that buyer's position.

HOW LONG WILL PRE-QUALIFICATION TAKE? In about a half hour, a loan officer will be able to determine the price range you can afford. They will be able to answer all of your financing questions and qualify you for the loan that best suits your family.

Still have questions? Give me a call at (434) 546-0369 and I'll be glad to answer questions or provide you with my first time buyers guide.

Lake Vista Subdivision, Forest, Virginia- Board Of Directors

Sat, 07 Mar 2009 11:37:19 -0600

If you are a Lake Vista resident in Forest, Virginia, this is contact information for the current members of the Board of Directors for the Lake Vista Property Owners Association.

Current LVPOA Board of Directors

Office Name Phone Neighborhood

President Bob Warrick 316-9365 SF

V. President Gene Montgomery 385-0158 SF

Treasurer Ralph Ellison 385-6320 OP

Secretary Don McVey 385-0309 SF

Board Member Leigh Doyle 385-6855 SF

Board Member Betty Farris 385-0134 TS

Board Member Faye Hesson 385-8664 WR

Board Member Roger Isaac 385-0504 SP

Board Member Ken Johansson 385-1191 BC

Board Member Steve Pallaria 385-5388 SF

Board Member Andrea Wright 385-0658 SR

The office of the LVPOA is located in the Community Center at 200 Lake Vista Drive, Forest. Office information:

Phone (434) 385-7594

Fax (434) 385-7650

Email: lvpoa@verizon.net

Website: www.lakevista.com

BEDFORD COUNTY PUBLIC SCHOOL SYSTEM

Brooks Mill Winery- First Winery in Franklin County, Virginia

Sat, 07 Mar 2009 11:15:40 -0600

Brooks Mill Winery- Wirtz, Virginia

There are many small wineries in the Smith Mountain Lake area, but up to now Franklin County, Virginia hasn’t been known for its wine (though it is well known for distilled spirits……but that’s another story). In December, 2008, H.T. and Rhonda Page opened the first winery in Franklin County to bottle fruit wines: Brooks Mill Winery in Wirtz.

Blackberry and plum are the varieties currently available. Blueberry and pear are aging in the barrel and have not been bottled as yet. Bottles are $10 plus tax and wine tastings are available by appointment.

For more information, call (540) 721-5215 or visit their website at www.brooksmillwinery.com

You're Not Workin' Your WHUFFIE? You Need to Attend A REBar Camp!

Fri, 06 Mar 2009 23:17:39 -0600

How much fun was REBar Camp in Fredericksburg, VA? It was an adventure just getting there thanks to 8" of snow in Lynchburg but if the McGillicuddy's can drive all the way from New Hampshire, we could drive two hours.

Happy Hour at Bonefish on Monday night

We were glad to meet up with several Activerain friends, old and new and it was a pleasure to meet Hilary Marsh, NAR Managing Director for REALTOR.org and Todd Carpenter, the new Social Media Manager at NAR.

REBCVA was a full day of presentations and sessions in the beautiful FAAR building. So much information: YEO, SEO, titles & tags, social networking and applying it to the Real Estate industry. Brad Carroll (who many of us have to thank for our Activerain Blog Headers) of danko marketing was on hand live streaming REBCVA. Daniel Rothamel's presentation on Whuffie kept me busy taking two pages of notes (Finally, something I learned about before my kids!).

Pat Kennedy, you weren't alone in the Twitter department, Kathy and I were a bit intimidated ourselves. During the twitter session with @gotbob, we learned all kinds of new terms: tweet deck, twitterwiki & twirl and I took several more pages of notes.

Jeff Turner gave the analogy that twitter is like attending a cocktail party, listening in to conversations, how to behave, joining in and it made sense.

By TwitterButtons.com

All good things come to an end- at the Capitol Ale House

Many thanks to everyone involved in putting together the REbar Camp in Fredericksburg. There are more (rebarcamp.com) events planned - you can't know what you're missing if you don't attend.

$8,000 First Time Homebuyer Tax Credit

Wed, 04 Mar 2009 23:36:49 -0600

There has been much written about the $8,000 First Time Homebuyer Tax Credit. Frank and Sharon Alters break it down for the consumer:

Via Frank & Sharon Alters, ePRO, GRI Fleming Island FL Real Estate (Watson Realty ):

The Tax Credit for First Time Homebuyers was amended this week when President Obama signed it into law along with the stimulus package. Here are the basics for understanding how this can help you with your home purchase.

Below is a Summary, along with a chart provided by the National Association of Realtors.

1. A First Time Homebuyer is someone who has not purchased a primary residence in the last three years. If you have owned a home but sold it over three years ago, you would qualify. Check with your accountant to see if second homes or vacation homes would disqualify you.

2. The Federal First Time Homebuyer Tax Credit is now $8,000 or 10% of the value of the home. This means that any house over $80,000 in value would qualify for the full tax credit.

3. Homes purchased between Jan. 1, 2009 and Dec. 1, 2009 qualify for the tax credit.

4. You have to buy the home first, including whatever downpayment and closing costs that are involved. Then, when you file your taxes, you will owe less, which will be a credit.

5. Say you make owe $5,000 in taxes - that amount would go towards the $8000 and you would only owe $3000.

6. Only Primary Residences are eligible (no second homes). Your Primary home could be a single family home, townhouse or condo.

7. Move within three years? You have to pay back the incentive. (I know you're wondering about proration; don't know the answer to that yet, still checking). If you live in the home three years or more, the creditis all yours, no payback.

8. As with any government program, there are income guidelines: $150,000 for a married couple, $75,000 for a single person.

9. If Buyers want to use this as a downpayment, they could check with their accountant to see if it was advisable to withhold less taxes this year, buy the house prior to Dec. 1, then file 2010 taxes early next year to receive the credit for 2010 quarterly taxes.

Beautiful Five Bedroom Home in Lynchburg, Virginia - New Towne

Wed, 04 Mar 2009 21:15:47 -0600

Nearly New in New Towne

302 Wessex Rd, Lynchburg, VA 24501 View Map

This is a spacious five bedroom home with three baths in the New Towne Subdivision. Built in 2007, this home features a large den with exterior entrance, paved drive and a deck off of the kitchen. Beautiful kitchen with upgraded cabinets and stainless steel appliances.

Details

Asking Price:

199,900

MLS:

246190

Sq. Feet:

2080

Lot Size:

.18

Bedrooms:

Bathrooms:

# of Floors:

HOA/Maintenance Fees:

Subdivision:

New Towne

Year Built:

2007

Property Amenities

Contact Info

Debbie Malone, ABR, e-PRO
RE/MAX 1st Olympic

Main (434) 832-1100
Dir (434) 546-0369
Email | Website

By TwitterButtons.com

NEW LISTING! Three Bedroom Ranch Hurt, Virginia- A Steal at $79,900!

Wed, 04 Mar 2009 20:25:46 -0600

Affordable Ranch in Hurt, VA only $79,900

14705 Rockford School Rd, Hurt, VA 24563 View Map

New Listing in Hurt, VA, Pittsylvania County. Located minutes from Alta Vista, this three bedroom ranch needs some TLC but includes a large 12 x 21 family room off of the kitchen and a full walkout basement for future expansion. Home inspections are welcome for buyers knowledge only. Chase addendums and pre-qual letter must accompany all offers.

Details

Asking Price:

$79,900

Sq. Feet:

1300

Lot Size:

.71

Bedrooms:

Bathrooms:

# of Floors:

Subdivision:

Woodroam

Year Built:

1975

Property Amenities

Community Amenities

Contact Info

Debbie Malone, ABR, e-PRO
RE/MAX 1st Olympic

Main (434) 832-1100
Dir (434) 546-0369
Email | Website

By TwitterButtons.com

Free MLS-friendly Virtual Tour - grab it during the next two weeks

Wed, 04 Mar 2009 19:00:32 -0600

I'm inputting and updating listings right now on RealBird. If you haven't checked it out yet, head over to RealBird. The Free MLS- friendly Virtual Tour offer runs through March 10, 2009.

Via Real Bird (RealBird Inc.):

Listing presentation courtesy of
Brenda Magness, Brenda Blaser & Pam Yoakum Realty Group
As many of you may know, the RealBird Listing Publisher service is one of the leading single property websites and listing syndication services. It is a completely free service with an extensive set of features that make it easy for you to market your listings online: through search engines, on classifed sites and social networks. Many of you may also wonder how we actually make money to support the free service. In short, we are selling optional add-on services such as street address domain names, map-based IDX search and MLS-friendly virtual tours for those of our members who opt-in to dig deeper into our product offerings. It's a classic model of providing a powerful free service and low-cost add-ons as the revenue source.

One of these optional add-on services is the RealBird Virtual Tour. It is a $9.99 per listing (or $89/year unlimited) low-cost service which provides you with an MLS-friendly unbranded and branded virtual tour service. Some of the unique features include the embedded RealBird mapping technology, including the large Google Street View and Microsoft Bird's Eye View for neighborhood visualization, embedded real-time market statistics and unlimited, high resolution photos.

So what is the MLS-friendly, unbranded RealBird Virtual Tour good for? When you enter your listing into your MLS (and you or your listing broker is opted in for IDX distribution) your listing information is syndicated to 3rd party, licensed real estate websites' search engines through the IDX feed (RETS, FTP etc.). This is a massive distribution as you all very well know, because most of your local agents and brokerage sites provide some sort of IDX or VOW based search engine to their visitors and clients. Fact is that listings with photos and virtual tours get the most attention among competing listings (i.e listings matching a home buyer's interest) One of the common rules of IDX agreements across all MLS markets is that while the 3rd party, licensed real estate website has to indentify the listing broker of the listing, no contact info of the listing broker has to be provided to support them in serving a potential transaction on the buyer side. In accordance with this, virtual tours distributed through IDX feeds with your listings can not include any contact information of you or your listing broker. Hence the need for the so-called MLS-friendly, unbranded virtual tour so that you can safely include it with your listing in the MLS for massive distribution, and to increase your listing's competitiveness.

To demonstrate the capabilities of the RealBird Virtual Tour we start a special promotion of a free giveway on ActiveRain again. (we love the AR platform for such)

So here we go: Any listing which is newly added or an existing one which is updated in RealBird between Monday, Feb 23, 2009 and Tuesday, March 10, 2009 will be automatically upgraded for free to the RealBird Virtual Tour edition ($9.99 value per listing) This is not a trial ! It's a full upgrade for those listings whose "touch date" falls into this 2 week time window. You can add or update as many listings as you wish (please make sure that you have the right to promote that listing)

For existing listings, simply log into RealBird, click "Edit" on the List of listings page and save the listing again with the identical data in order to update the "touch date". We scheduled an automatic process to upgrade the listings within 20 minutes, so in some cases you may have to wait a few minutes and refresh the list of listings page to see the virtual tour links.

So head over to RealBird and get as much free Virtual Tours add-ons during the next two weeks as you wish. If you are new to RealBird, just register for free and add your listings. It only takes a few minutes.

We have one small request though: Please help us share this promotion: Kindly Reblog this post on ActiveRain, share it on Facebook, on Twitter or simply email it to your collegues. Thank you!

-- Zoltan
RealBird.com

For free, high-impact, online listing marketing, visit RealBird.com

Debbie Malone - Lynchburg Virginia Real Estate Blog

JUST REDUCED! Country Home in Amherst County with FIVE Acres and a Huge Garage $309,900

Classic Fort Hill Home in Lynchburg Virginia with FIVE Bedrooms only $199,900

JUST REDUCED! Three Bedroom, Two Bath Brick Ranch in Lynchburg, VA $169,900

Nice Brick Ranch JUST REDUCED - 516 Oakridge Blvd, Lynchburg, VA 24502 $127,900

This is Why We Groom OUR Dog...............

Camp Bow Wow

Route 221 Forest, VA 24551 434-525-5672

NEW LISTING- Beautiful FIVE Bedroom Home in Fort Hill, Lynchburg, VA $199,900

NEW LISTING- Home with HUGE Detached Garage/Workshop on 5 Acres in Amherst County, VA

Remembering The Victims of Virgina Tech - April 16

Wordless Wednesday - Sunset in Key West

NEW LISTING- 712 Mohawk Dr - Large Brick Ranch in Lynchburg, VA - Sandusky Schools

Sangria Saturdays at Savoy-Lee Winery, Huddleston, VA

Community Involvement: The Forest Lions Club, Forest, VA

Wordless Wednesday--- South Florida Clouds

Happy St. Patrick's Day 2009!

Celebrate Historic Garden Week in Lynchburg, Virgina, April 21, 2009

Low Cost Home Improvements When Selling Your Home

The Confusing world of PMI, Simplified

Buyer Q & A: What Type Of Loan Do I Qualify For? Let's Look At FHA

Lake Vista Subdivision, Forest, Virginia- Board Of Directors

Brooks Mill Winery- First Winery in Franklin County, Virginia

Brooks Mill Winery- Wirtz, Virginia

You're Not Workin' Your WHUFFIE? You Need to Attend A REBar Camp!

$8,000 First Time Homebuyer Tax Credit

Beautiful Five Bedroom Home in Lynchburg, Virginia - New Towne

Nearly New in New Towne

302 Wessex Rd, Lynchburg, VA 24501 View Map

Details

Property Amenities

Contact Info

NEW LISTING! Three Bedroom Ranch Hurt, Virginia- A Steal at $79,900!

Affordable Ranch in Hurt, VA only $79,900

14705 Rockford School Rd, Hurt, VA 24563 View Map

Details

Property Amenities

Community Amenities

Contact Info

Free MLS-friendly Virtual Tour - grab it during the next two weeks

Route 221
Forest, VA 24551
434-525-5672