Details tomorrow once its officially closed. I will share all the details of this rare find and the exaustive search to get there! The perfect match for my clients and their budding new family.....

When purchased in 2002 this property was described in MLS as "Rarely available Governors Sq! Note the size. Prestine condition, eat in kitchen, Juliet balcony overlooking deep walled garden, brick patio, one car garage plus one private parking spot. Wood floors, white kitchen, new appliances, lots of windows, PLUS great schools. Across the street from the Community Center and City Hall. 2 fireplace GAS heat."

Today... after years of TLC and nearly $100K in upgrades and renovations this magnificent property boasts a brand new remodeled kitchen; brand new, side by side wood, front doors; renovated bathroomS and meticulous landscaped surroundings. A MUST SEE.

The sellers have prepared this property to show  you how wonderful it is. Please call today to make an appointment. Scott Montgomery 703-283-4523.

Is it still a hot market in Northern Virginia? One might argue that based on this deal it is.

We listed this quaint little 'cottage type' property (3 bedrooms, 3 bath, maybe 1900 sq ft) situated in one of Arlington's "finest" neighborhoods and during the first showing we had an offer in hand, a verbal offer and 3 phone calls. One of our offers was cash, no inspections or contingencies that also offered an escalation to over $50,000 beyond asking price of $764,900.00. We ratified an offer within hours of putting the sign up! There wasnt even a picture on the listing in MLS so all I can offer is this description which I wrote for the listing. "Great opportunity situated in the heart of sought after Country Club Hills. 3BR and 3BA with family room and Master BR on the main living area- catherdral ceilings over formal LR. Fully finished basement with the feel and charm of an old historic cabin. Huge fireplace can warm the coldest winter nights. 2nd floor BR and study- Motivated seller so make an offer TODAY!

Is it a good time to buy in Arlington, Virginia? I would suppose based on this story IT IS!

Last week, Congress overwhelmingly approved an extension and expansion of the home buyer tax credit, as urged by hundreds of thousands of Realtors® across the country. The President has signed the legislation.

Key points of the legislation include:

• Extension of the $8,000 tax credit for first-time home buyers under contract by April 30, 2010 and settling by July 1, 2010;
• Addition of a $6,500 tax credit for existing homeowners, if living in their principal residence for five consecutive years in the past eight years;
• Increasing income limits for eligible home buyers to $125,000 for single buyers and $225,000 for couples; and,
• Capping the purchase price of the home at $800,000.

source www.nvar.com

That's right folks the Silver Line is in the works...finally...and while the phase 1 plan has the extension reaching out to Wiehle Avenue its actually been tweaked to include the Reston Town Center. Phase 2 will take you through Herndon and will include the Dulles Airport (IAD).

Construction has started and the phase 1 completion date is set for 2013 and will carry passengers from West Falls Church's Orange line through Tyson Corner shopping mall and down through the center of the Dulles Toll Rd. See map from Dullesmetro.com below:

Planned facilities for this station include:

• Two station entrances (both sides of Dulles Toll Road)
• Pedestrian bridge crossing toll road and airport access highway
• Bus dropoff/pickup (both entrances)
• Kiss & Ride (both entrances)

November 30, 2009 is the last day to close on your new home in order to qualify for the tax break offered by our Federal government. If you want to take advantage and you're a first time home buyer call TODAY.

Most lenders are requiring a 30 day lead time to get to the closing table which means by Halloween you better have your deal ratified.

There is a ton of inventory to sift through so take advantage of this incredible buyers market and the tax credit and give us a call today! We're looking forward to hearing from you! 703-283-4524

Georgetown University's Financial Education Conference is April 16, 2009  As Realtors for the Northern Virginia market we feel it is important to help our first time buyers navigate through these difficult financial times, especially when considering buying and/or investing in real estate. Please join members of the Keller Williams Mclean Virgina office as we offer an educating session that will povide a recap of the market and current trends, the first time buyer tax credit, lending and mortgage issues, common pitfalls and how to get started.

For more information please visit:

https://gushare.georgetown.edu/UniversityBenefits/FEC/GU%20Spring%20Newsletter%203-17-09%20FINAL%20WEB%202.pdf 

or call Scott Montgomery 703-283-4524.

With a unanimous vote yesterday evening the Senate passed another value add stimulus to buying a new home. Combined with lowered interest rates and amazing inventory a new law allows for better tax advantages.

                                         USA today photo

The old law allowed for a $7500 tax credit to first time home buyers the year the bought their first residence. The new law should help stimulate a new surge of buyers. ALL home buyers will now get a tax credit equivalent to  $10% (up to $15K) on new or existing residences. 

See USA todays article here:  http://www.usatoday.com/money/economy/housing/2009-02-04-taxbreak-homebuyers_N.htm for more details.

Lets get out and find you a new home ..Now is the time to buy!

As I opened up my morning paper I was faced in bold letters with this headline:

2008 FORECLOSURE FILINGS SET RECORD ...

Despite the doom and gloom, I want to remind those thinking about buying, that this is it- THE TIME TO BUY IS HERE!  Interest rates are about as low as one has ever seen, inventory is high and sellers are anxious to move their property's. While the news is sad for those experiencing foreclosure proceedings, there is still real opportunities for the next generation of buyers!  See article below!

By Stephanie Armour, USA TODAY

Foreclosure filings surpassed 3 million in 2008, setting a record that has Washington, D.C., policymakers calling for more aggressive efforts this year to aid troubled homeowners.

Foreclosures last year were up 81% from 2007 and 225% from 2006, according to a report out today from RealtyTrac. One in 54 homes received at least one foreclosure filing during the year, RealtyTrac reported.

Banks repossessed more than 850,000 properties in 2008 compared with about 404,000 in 2007.

Houses in some stage of foreclosure totaled 303,410 in December, up 17% from the previous month and up nearly 41% from December 2007.

"That was a surprise," says Rick Sharga, senior vice president at RealtyTrac. "These filings came despite (foreclosure) moratoriums. There was no way we were expecting a near-record month, and I believe January will be a record-setting month. We're in for a very difficult year."

More than 7% of Nevada housing units received at least one foreclosure notice in 2008, giving it the nation's highest state foreclosure rate for the year.

As foreclosures mount, other homeowners are jumping on falling interest rates to lower their monthly mortgage payments. Refinancing applications, now about 85% of all mortgage applications, have surged to levels not seen since 2003, the Mortgage Bankers Association said Wednesday.

The average interest rate for 30-year, fixed-rate mortgages decreased to 4.89% from 5.07% a week earlier, the MBA reported.

But foreclosures remain a dominant concern for federal policymakers as Congress weighs the release of the second $350 billion from the $700 billion Troubled Asset Relief Program it passed in October.

The House is expected to vote this week on a bill introduced by Financial Services Committee Chairman Barney Frank, D-Mass., that would require at least $50 billion of that money to be spent on mitigating foreclosures. The Treasury Department would have to reach agreements with each bank that gets bailout funding on how the funds are to be used.

"With foreclosures continuing to rise and the economy in a downward spiral, it's not surprising you see increased foreclosures because of increased unemployment," says Ira Peppercorn, former federal deputy Housing commissioner under President Clinton. "The question is what shape and form the help for homeowners will take."

I received a flyer from www.usinspect.com today reminding me that with winter upon us there are several things the one must consider in order for their homes to survive these horrifically cold months ahead.

1. Be sure to turn off your outside water supply to avoid frozen pipes leading to outside. Best to turn the water off inside and then turn the spickot on to release any remaining water in the line. Cracked pipes from frozen water expanding can be a costly repair for homeowners

2. Heating and cooling systems have filters; CHANGE THEM. In order for the systems to run properly they need filters in place that prevent dust and dirt from entering the insides of the unit. Filters are often good for 30-90 days.

3. Keep attic louvers and vents open all year round. Check the screens and clean accordingly. I had a bird fly and in and die inside mine and that can be a fire hazard as it was the path for heated dryer air to escape the house and was blocked by the birds carcus.

4. Keep doors and windows closed and or sealed to prevent heated air from escaping and cold air from coming in. This will ensure your electric and or gas bill stays in check and your HVAC systems dont work overtime and potentially needing replacing early.

Hopefully these hints will help you survive the winter in a cost effective easy to maintain manner.