Stafford Area Real Estate Blog

Short Sale Investors - Are They ALL a Greedy Bunch?

Sun, 09 Aug 2009 19:21:50 -0500

Having just closed the absolute worst transaction of my real estate career, the anger and resentment are still very real. We can't always anticipate the integrity of the party on the other side - whether the agent or the client. I happened to be cursed with an incompetent agent with little to no experience and a witch of a short sale investor. The agent's ignorance was only surpassed by her client's arrogance.

Without getting too involved in specifics, buyer presents a VA offer at an agreed upon sales price, at an agreed upon date, with an agreed upon earnest money deposit, with an agreed upon title company (of the seller's choosing). After learning that the buyer was going to change their financing, which was absolutely allowed per the contract as long as the client was approved, and the change did not adversely affect the seller's net or delay settlement, the investor decided that since my clients were putting less money down, they should pay more for the house! After considerable harrassment, my clients sought legal counsel and proceeded to fulfill their obligation to get to the table - in complete compliance with the contract.

On a number of occassions the listing agent contacted my client directly to ask him if he was using alternative financing and. if he was. he would need to pay an additional $15,000 for the house in order to have the seller's "permission" to do so. Extortion? Blackmail? We ignored the requests until push came to shove and the seller served a unilateral notice a week prior to settlement saying that they were "voiding" the contract for several bogus reasons - one of them being that the buyers were "changing" the financing terms (to which they had a perfect right).

Fast forward - lis pendens and a complaint in court and voila - they suddenly had a change of heart. When stupidity and greed are stacking the other side, it's doomed from the start!

Lesson from all of this:

NEVER give in to intimidation from a greedy, pushy agent or principal.
ALWAYS recommend your client seek legal counsel at the first sign of trouble.
DOCUMENT everything - it's amazing what stupid agents put in their emails!
STUDY case law and understand your contract - but do NOT try to give legal counsel.
RECOMMEND several lenders you trust with whom your clients can rely on.
CONSULT WITH YOUR BROKER - let them know immediately what you are dealing with and ask for advice.
PRAY....Sometimes things need to be given up to HIM!

Irene Morales Ward, Northern Virginia Real Estate

Stunning Condo in Watergate at Landmark in Alexandria, VA

Tue, 31 Mar 2009 13:09:26 -0500

Stunning Condo in Watergate

203 Yoakum Pkwy, #707, Alexandria, VA 22304 View Map

No expense spared here! This G Model in Watergate at Landmark has been meticulously maintained and beautifully remodeled with the highest quality products. Imported granite wall, floors and vanity in the bathroom along with top of the line cabinetry; stunning ceramic floors and walls in the master bath, granite vanity and upgraded cabinets. Gorgeous brand new Kenmore Stainless Steel appliances grace the kitchen along with new countertops and remodeled cabinetry and hardware. The G Model offers large, open rooms and the view from the balcony is breathtaking and quiet - overlooking the quiet park views. Enjoy all the amenities Watergate has to offer including a garage parking space (which conveys) and free shuttles to the Van Dorn metro. Amenities include exercise room, basketball, volleyball, tennis (indoor and out), pools (indoor and out), walking/jogging paths, tot lots, community center and party room, billiards, library, ping pong, convenience store, beauty salon and spa, security building, intercom, gated community, surveillance cameras. Also, condo fee includes ALL utilities except phone/cable/internet.

Irene Morales Ward | Realtor, ABR, e-Pro
Dir 540-371-6157 | Email | Website

Say Good Bye to the Beloved Cul-de-sac

Wed, 25 Mar 2009 07:09:57 -0500

Metropolitan Design Center Image Bank,

Regents of the University of Minnesota

The Commonwealth of Virginia has decided to take a hard stand against the very popular concept of cul-de-sacs. Virginia Governor Timothy M. Kaine (D) claims "When you have 350 to 400 miles a year of new roads you have to maintain forever, it's a budgetary problem." Kaine, who pushed this new regulation through the Commonwealth Transportation Board last month, says "it's not just about money." While trying to trim the current budget by $2.2 billion from its 6-year transportation spending plan, Kaine insists that the changes are "about connecting land-use and transportation planning and restricting wasteful and unplanned development."

This is certainly not a new phenomenon for state and local governments to speak out against the concept of cul-de-sacs. For years now urban planners, anti-sprawl activist, city planners and architects have long found fault with this design for various reasons, not the least of which is its increased dependency on vehicular travel to and from local stores, restaurants and schools.

Modern cul-de-sacs were conceived about 100 years ago in England and then became popular in the 1920's in Radburn, N.J. By WWII, cul-de-sacs were all the rage and folks were fleeing the crowded cities for more land and a quieter lifestyle. Of course, this change would require more space. As the population density decreased, the distance between home and the local market increased, as well, thus requiring vehicular travel to and from many places.

Many urbanists contend that a possible solution to the problem is for developers to create a "village design" that clusters homes with shopping, schools, parks and restaurants, all within walking distance of one another and preferably near public transportation routes.

A perfect illustration to that would be Leeland Station in South Stafford. While the intention was for the developer to offer all these things, the glaringly obvious problem is that the market doesn't always allow for these "promises" to be kept. No one anticipated in 2005 that the developer would find himself in financial turmoil as a consequene of the imminent housing crisis.

Having filed bankruptcy in January 2008, the company has had to put on hold many of these projects as a result. "Maryland Development filed a petition for reorganization under Chapter 11 in the U.S. bankruptcy court in Greenbelt, Md., on Jan. 25, according to BusinessWeek magazine. The company listed assets and liabilities in the $10 million to $50 million range, BusinessWeek reported." Chapter 11 frees a company from the threat of creditors' lawsuits while it reorganizes its finances. That reorganization plan must then be approved by a majority of the creditors

Developers will now be forced to have multiple exits from their subdivisions and all streets must be through streets. No more cul-de-sacs! The rationalization is that doing so will help eliminate the need for the state to expand secondary roads that are clogged by the traffic routes used by the residents of these communities. It is also intended to create a safer traffic flow for emergency vehicles.

As a result of this new regulation, the state will maintain only new subdivision streets that comply with its "connectivity, road and sidewalk requirements." The new requirements also will reduce the width of the roads to 24 feet to 29 feet wide for local streets. Currently subdivision streets can be 40 feet wide. Officials contend that the narrower roads will "reduce speeds, decrease storm water runoff and save on maintenance costs."

As a Realtor, the benefits of a cul-de-sac for the homeowner are obvious....less vehicular traffic means safer pedestrian traffic, increased privacy, reduction in noise, safer environment for children, and a much less likely target for crime. These lots are at a premium and will likely increase in value if this regulation remains unchallenged.

One possible alternative would be for the state and local governments to increase proffers required of developers with each proposed cul-de-sac and possibly decrease proffers with each additional exit from the subdivision onto secondary roads. Of course, these costs to the developer will be passed on to the consumer in the form of increased lot premiums. However, I can almost guarantee if there is a decreased supply in cul-de-sac lot availability and the demand remains the same, the price (value) WILL go up. That is basic economics.

So, congratulations to those homeowners who find themselves sitting on a private cul-de-sac lot. Your property values probably just went up!

The Virginia Department of Transportation is planning three public meetings next month in Northern Virginia to discuss this topic.

April 29, 2009

2 - 4 p.m.

Information meeting

Secondary street acceptance requirements

Details >

Loudoun County Government Center
Board of supervisors room
1 Harrison St. SE
Leesburg

April 30, 2009

10 a.m. - noon

Information meeting

Secondary street acceptance requirements

Details >

McCoart Government Center
Board chambers
1 County Complex Court
Woodbridge

April 30, 2009

2 - 4 p.m.

Information meeting

Secondary street acceptance requirements

Details >

VDOT Fredericksburg Residency
87 Deacon Road
Fredericksburg

Main Entry:

cul-de-sac

Pronunciation:

\ˈkəl-di-ˌsak, ˈku̇l-; ˌkəl-di-ˈ, ˌku̇l-\

Function:

noun

Inflected Form(s):

plural culs-de-sac \ˈkəl(z)-, ˈku̇l(z)-, ˌkəl(z)-, ˌku̇l(z)-\ also cul-de-sacs \-ˌsaks, -ˈsaks\

Etymology:

French, literally, bottom of the bag

Date:

1738

1 : a blind diverticulum or pouch

2 : a street or passage closed at one end

3 : blind alley

Resource Articles:

Cul-de-Sacs Could Be History in Va

End of the road for the cul-de-sac?

Dead end for the cul-de-sac?

Cul-de-sacs: Suburban Dream or Dead End?

Stafford shortcut remains on hold

Ashburn Village with Lakeviews is Stunning!

Sat, 31 Jan 2009 15:41:45 -0600

Exceptional Buy in Ashburn Village

44175 Tippecanoe Ter, Ashburn, VA 20147 View Map

This is a beautiful and open Lakewood model on the lake at Ashburn Village. Experience the peaceful surroundings of this wonderful community, as well as, the man amenities including one of the BEST sports pavillions in Virginia. With indoor and outdoor pools, fitness centers, Washington & Old Dominion Trail, shopping, schools, playgrounds and more, you will never be bored! Come see this immaculate home with lots of light, gorgeous lake views, fenced backyard, deck, vaulted ceilings, recessed lights, and custom paint. It's ready NOW and seller's are sacrificing so act quickly. NO BANKS involved - healthy sale!

Details

Asking Price:

$320,000

MLS:

LO6967827

Sq. Feet:

1766

Lot Size:

.04

Bedrooms:

Bathrooms:

2.5.5

# of Floors:

HOA/Maintenance Fees:

106.59

Garage Size:

1 car

Subdivision:

Ashburn Village

Year Built:

1999

Property Amenities

Community Amenities

Contact Info

Irene Morales Ward
Realtor, ABR, e-Pro

Dir 540-371-6157
Email | Website

The Ultimate Odd Couple

Mon, 19 Jan 2009 16:36:53 -0600

I struggled with this - should I bother trying to make the real estate to life connection? Then I decided - quite quickly - NO! Don't look for any real estate advice or guidance in this post. The message is crystal clear. I suppose you could make some arbitrary connection to the real estate world but the bigger picture is obvious - and just beautiful! Enjoy!!

Winding Creek Estates Rental is Exquisite!

Sat, 10 Jan 2009 21:22:05 -0600

Winding Creek Estates - Amazing Home!

5895 Moonbeam Dr, Woodbridge, VA 22193 View Map

This is a home you won't want to miss. Exquisite condition for this enormous home close to everything. Every convenience you'll need - Master bedroom with enormous master bath; spacious, sunny rooms; hot tub, multi-tiered deck, stone patio, fenced backyard fully equipped with custom-made kids' playset; dream recreation room wired for surround sound, with wet bar and poker room; au-pair suite with walk-in closet and full bath; washer and dryer on bedroom level; hardwood foyer and kitchen; warm and sunny family room.

All this and only minutes to 95, Quantico, shopping, and more! Take a 5 minute stroll down the street to the community pool or take up a game of tennis.

This is a MUST SEE!

Details

Asking Price:

$2500

MLS:

PW6956769

Sq. Feet:

3335

Lot Size:

.26

Bedrooms:

Bathrooms:

3.5

# of Floors:

HOA/Maintenance Fees:

Garage Size:

441 sq ft

Subdivision:

Winding Creek Estates

Year Built:

2002

Property Amenities

Community Amenities

Contact Info

Irene Morales Ward
Realtor, ABR, e-Pro

Dir 540-371-6157
Email | Website

A Thanksgiving Gift

Tue, 18 Nov 2008 13:35:18 -0600

My father's birthday is November 21st. My earliest memories of him were of the joy his birthday brought - not because of the gifts - but because of the family that gathered, usually at Thanksgiving. It was the beginning of the season he loved best - Thanksgiving and Christmas. He was a large man - a formidable figure to most - with large blue eyes that seemed to sparkle like a child's when he was in the presence of his family and a home cooked meal.

My father would have been 68 years old...God took him 12 years ago after a long battle with diabetes. He lived to see all his children happily married and gave all his grandchildren hugs and kisses before he left this earth. In memory of my father, I dedicate this song....

May it remind you of the beautiful gifts God has given us - even if they are only our health and our family. We must always be thankful...always.

God Bless You All!

Election Alert - Transportation Bond Referendum - Stafford, VA

Mon, 03 Nov 2008 13:48:24 -0600

On Tuesday, November 4^thStafford County residents will be voting on a transportation referendum that will allow the Board of Supervisors to borrow $70 million by issuing bonds to fund specific road and pedestrian projects throughout the county. This bond referendum would call for the borrowing to begin in 2010 and $147 million in projects to begin. The referendum is printed below and includes the specific projects. Transportation is one of the most important and often debated issues throughout the Commonwealth and especially in Northern Virginia.

QUESTION: Shall Stafford County, Virginia contract a debt and issue its general obligation bonds in the maximum amount of Seventy Million Dollars ($70,000,000) for the purpose of paying the costs, in whole or in part, of the following transportation improvement projects:

(1) Warrenton Road (Route 17);
(2) Garrisonville Road (Route 610);
(3) Ferry Road (Route 606);
(4) Courthouse Road (Route 630);
(5) Truslow Road (Route 652);
(6) Telegraph Road (Route 637);
(7) Courthouse Road (Route 630) Railroad Bridge;
(8) Pedestrian improvements;
(9) Kellogg Mill Road (Route 651);
(10) Youth Driver Task Force "Hot Spot" Traffic Safety Improvements:
        (a) Jefferson Davis Highway (U.S. Route 1);
        (b) Brooke Road (Route 608);
        (c) Poplar Road (Route 616);
        (d) Mountain View Road (Route 627);
        (e) Rock Hill Church Road (Route 644)?

Irene Morales Ward, Northern Virginia Real Estate

Congratulations to St. Francis of Assisi Girls' Volleyball Teams!

Fri, 31 Oct 2008 09:25:36 -0500

As the proud mother of 12 year old Mia Ward - outstanding hitter, server, and defensive player, if I may gush - I wanted to take a moment and congratulate the St. Francis of Assisi JV and Varsity Girls' Volleyball teams for their tremendous season this year. When I started this program 7 years ago, I had no idea it would become so dynamic and successful. The girls and their coaches, Angie Roeske and Traci Helfer, are to thank for that. The parents' continued support, enthusiasm and efforts to get their girls to the many practices and games were a large reason for the success of the season.

I couldn't be prouder of the girls' efforts and progress. They are truly amazing young women - ALL of them!

Congratulations to St. Francis of Assisi Girls' JV and Varsity Volleyball!!

Irene Morales Ward, Northern Virginia Real Estate

Sale of Existing Homes Rise 5.5% in September

Sat, 25 Oct 2008 06:26:02 -0500

September saw the highest level of existing home sales in nearly two years. Sales rose 5.5% in September over the August 2008 figures. This increase is the first time since November 2005 that sales have risen over the prior month's performance.

The National Association of Realtors reports that the increase represents sales of single family homes, townhouses, condominiums and cooperatives. This pace reflects a seasonally adjusted annual rate of 5.18 million units sold. This is an increase of 1.4% over the same period in 2007. The median price of existing homes fell to $191,600 during September which is down from $210,500 in September 2007. The Association also reports that 35-40% of all transactions were the result of Foreclosures and other distressed sales. The movement in the foreclosure properties and the reduction in the prices have seen a dramatic decrease in available properties. Inventory of residential properties fell 1.6% in September to 4.27 Million units. That number still reflects a larger than desirable inventory however the trend seems to be heading downward for inventory supply. The drop in inventory represents the second month in a row that the inventory has declined since the peak of the excess properties in July 2008.

In the Southern Region of the country, which includes Virginia, Maryland and the District of Columbia, sales rose 2.2% and the median price was down 4.1%. Wall Street market worries continue to play a role in the housing market and the credit crunch is just starting to loosen from the economic bailout legislation. However, this sales increase is a positive sign for sellers and price reductions bringing properties back to a more affordable range is good news for buyers.

Irene Morales Ward, Northern Virginia Real Estate

So You Still Think Short Sales are the Way to Go....REALLY!???

Wed, 22 Oct 2008 10:18:12 -0500

As my old Quantitative Methods of Analysis professor at Towson University, Doc Slevin, used to tell us, "Numbers will NOT lie!" The methods we use to analyze the data can be twisted and contorted to our liking and perspective - just look at any Politician campaigning about the economy. They will spit out figures as though they told the entire story. We ALL know that's not true.

Having said that, however, I am finding a really hard time coming to any conclusion but that Short Sales are NOT what you, the consumer, may have assumed them to be. After analyzing the data, they are not the "chance of a lifetime" or "golden deal" many home buyers today seem to think they are. Without making mention of the many, many pitfalls that plague any short sale transaction, how about just looking at the numbers and drawing your own conclusions.

I had decided to analyze one zip code in Prince William County (22193 - Dale City, Woodbridge) to see how many homes had sold as Foreclosure, REO Property, or HUD Owned homes since September 1, 2008. Keeping in mind that this list isn't inclusive of all foreclosure sales because not all listing agents enter the data appropriately in our MRIS system (MLS), we will use the same criteria for short sales or potential short sales.

Here is what I found:

Of the 90 Homes Sold in Foreclosure since September 1, 2008 in Zip Code 22193, 43% or 39 were previous Short Sales. That simply means that 57% of the previous owners of these foreclosure listings took no preventative measures to avoid foreclosure.

Of the previous Short Sales, the Average Low List Price for a Short Sale was 33.1% MORE than Actual Net Sold Price for the Foreclosure!

Of the Short Sales that were listed, ZERO sold in the same time frame...in fact, ZERO sold in Zip Code 22193 in ALL OF 2008!

So, are you still sure a short sale is the way to go? Numbers don't lie!

Irene Morales Ward, Northern Virginia Real Estate

A Buyer's Agents View of The Foreclosure Process - Gone Bad!

Tue, 21 Oct 2008 07:14:31 -0500

Allow me this opportunity to vent about the pit falls of the foreclosure transaction. As a buyer's agent, I am often times dealing with overworked and under staffed listing agents who are tackling the daunting task of trying to represent banks to sell foreclosures. I find myself in the unenviable position of trying, many times in vain, to protect my client's interests in what can often times be a very frustrating transaction.

The Regional Sales Contract - Throw it away, rip it up, use it for toilet paper - it's not worth a darn. The bank's addendum supersede's this contract at almost every turn. Not even sure why we have to bother with the process. Perhaps we should just make an offer on loose leaf paper - "Buyer will pay $100,000 to buy this piece of garbage located at ABC Main St, Anytown, USA on or before Anyday, 2008 using conventional financing. Bank addendum raping buyer of any rights to legally get out of this contract is to be attached to this contract offer." This is a dramatization but I'm not too far off the mark - trust me on this!

The Deadlines - Well, if Trina the Asset Manager happens to be out on Friday and her back up is behind in her files, you can disregard that contingency you are trying to remove to be signed by the deadline. IF we are lucky enough to get the bank to respond to the addendum in a timely fashion, then I suppose you have a chance in hell at getting it signed and returned before settlement. But don't hold your breath.

The Negotiations - Listing agents sometimes try in vain to articulate the severity of a negotiating point. "Yes, a failed septic field is a HUGE deal and by the way, now this inspection report that the buyer paid $500 for is notice of a building code violation that you (the seller) will have to either fix or disclose to the next buyer." Banks response...."Well, we won't agree to any repairs until we know how much it will cost to fix....even though settlement is scheduled for this Tuesday."

The Phone Calls and Emails - "Please call me back! This is the 4th call I've made today to find out if the utilities are on so my client can get out there tomorrow by the Seller's DEADLINE to do the home inspection." Begging and nagging have become a normal routine. I'm actually quite good at it! Just ask my husband!

Title Trouble - Don't be surprised if the settlement attorney cannot get the deed in time for settlement. In some cases, the bank's title company is so overwhelmed with files, they simply cannot get to them all and if there is a discrepancy - a lien or judgement against the property - then it could take considerably longer.

They have to fix this, don't they? - Um, no, they don't. Read that lovely little bank addendum that essentially says they don't have to fix anything unless perhaps, it's a direct violation of a building code or regulation in which case, the bank (seller) probably has the option of terminating the contract....even if you've already given your property manager at your apartment notice that you were vacating on the 20th of the month.

In the end, and I will ALWAYS recommend this, TALK TO A REAL ESTATE ATTORNEY PRIOR TO SIGNING THE BANK ADDENDUM. As a Realtor, I have the distinct honor of working with your through your purchase. However, at NO TIME am I permitted to represent you as an attorney and give you legal advice. Because every bank foreclosure has specific language added to their bank addenda which is written by the banks' attorneys to protect the bank, you MUST not assume you have the same rights as in a traditional transaction. Even if you've bought a home before, this will be an experience you must understand thoroughly so be prepared to seek legal advice to know what your rights are AHEAD OF TIME. Don't wait until you are at the end of the transaction only to find out the bank will not comply with your requests....often times, they don't have to.

Irene Morales Ward, Northern Virginia Real Estate

Belvedere Plantation - A Traditional Pumpkin Patch Outing

Mon, 20 Oct 2008 11:20:07 -0500

Last weekend my oldest daughter, Adrienne, took my youngest son, Matt, to Belvedere Plantation, a beautiful 645-acre working farm in Fredericksburg, Virginia. They had a great time and came back with some wonderful pictures. I thought I'd share it all here!

Belvedere Plantation offers so many different outdoor attractions that children (and adults) of every age can find something they'll enjoy! They have a corn maze, a barnyard where kids can see different farm animals, pig races, a giant 100-foot slide for people over 5 years old, zip lines for kids of every height, a barn filled with hay and rope swings, and a pedal tractor race course (think go-carts only you power them by pedaling)! And if that isn't enough, there's the pumpkin patch, which is a short hayride away from the where all the other attractions are. Everything at Belvedere Plantation is very family friendly and the staff is wonderful! The Fall Festival ends November 2^nd so I would suggest getting there soon!

Belvedere Plantation is about 7 miles SE of Fredericksburg and very easy to find off Exit 126 on I-95. The farm offers free parking and general admission is $14 for anyone over the age of 2 and $12 for seniors (and you could spend an entire day at the farm, so it really is a deal compared to some other family outings). They also have military discounts and they offer coupons, which anyone can sign up for online. For more information go to www.belvedereplantation.com!

New Park Opens in Stafford

Sun, 19 Oct 2008 09:54:54 -0500

The Stafford County Department of Parks and Recreation held grand opening ceremonies on Saturday, October 18^th to celebrate the newest addition to the county's park system. Patawomeck Park cost $4.8M to construct and has the most modern facilities. Lighted and irrigated soccer, football and softball fields, as well as restrooms and a picnic pavilion are ready for public use. Patawomeck Park is the result of a land transfer between the county and the Moncure family. The family gave the county the land for the park and donated $500,000 towards construction in exchange for the old Fritter Park which was closed. The land that was Fritter Park is now part of the Quantico Corporate Center.

Patawomeck Park is located off Route 1 in the Widewater section at 25 Chopawamsic Parkway in Stafford. For more information contact the Stafford Department of Parks and Recreation at 540-658-4871 or visit their website at www.stafford.va.us/parks.

Welcome Home!

Sun, 19 Oct 2008 09:19:19 -0500

On Tuesday, October 14^th the 140 members of the 4^th Light Armored Reconnaissance Battalion's Delta Company returned home to Quantico after a six month deployment in the al Anbar Province of Iraq. The 129 Marines and 11 Navy Corpsmen were greeted by family and friends waving flags and homemade signs. Happily all of the Marines and sailors arrived home safely after completing their mechanized security mission. The battalion now gets some well deserved time off to be with their families.

Irene Morales Ward, Northern Virginia Real Estate

No new taxes to close budget gap in Stafford

Fri, 10 Oct 2008 15:11:33 -0500

On Tuesday, October 7^th, Stafford County Administrator Anthony Romanello reported to the Board of Supervisors that the county faces a $5.6M budget shortfall for fiscal year 2009. Mr. Romanello submitted his recommendations to the Board that will close the gap without raising taxes on county residents. Stafford County is one of many jurisdictions throughout the state facing funding issues in the coming year. The state itself is facing shortfalls with Governor Kaine and the Legislature searching for answers to combat revenue shortages, fuel cost increases and the general economic slowdown and financial crisis that we see on the news everyday.

Fortunately, unlike many counties, Stafford will implement a plan that calls for the county to tighten its belt first. Mr. Romanello suggests eliminating unfilled positions in the County bureaucracy. This attrition plan, while not ideal, will allow for the least impact on residents. The Administrator also recommended cut-backs in training courses, special events, outside legal fees and computer upgrades and repairs. Also, the Woodlands Pool facility which is currently open seven days a week would be closed on Sundays which is their slowest day. Facility upgrades and repairs will also be re-evaluated to ensure that only necessary repairs are made until the financial picture is brighter.

In closing, Mr. Romanello told the Board that he is very optimistic about the future financial strength of the County citing three million square feet of new commercial development in various stages throughout the county. The Board approved the plan as submitted regarding everything except the attrition plan. They have postponed that decision until the October 21^st meeting.

Irene Morales Ward, Northern Virginia Real Estate

Stafford Aids Chesapeake Bay Clean-Up

Wed, 08 Oct 2008 20:48:55 -0500

Virginia state officials have announced that they will be disbursing about $188 Million around the state to assist local jurisdictions in their efforts to clean up the Chesapeake Bay. Stafford County is expected to receive between $5.5M and $7.6M from the State Clean Water Revolving Loan Fund to upgrade the Little Falls Run Wastewater Treatment Plant that discharges into the Rappahannock River. The Rappahannock feeds into the Chesapeake Bay near Stingray Point.

The state, working with the federal Environmental Protection Agency, has set a goal of 2010 to clean up "point-source pollution" and reduce the volume of nutrients flowing into the Bay. Point-source pollution refers to drainage flowing from one particular source, usually a specific drainage pipe. The volume of nutrients is most affected by other sources into the Bay including run-off and dumping in protected or vulnerable areas. Stafford County is currently upgrading the wastewater treatment plant in Aquia.

While the upgrades at the treatment plants will not have a noticeable daily impact on the lives of Stafford County residents, the health and survival of the Chesapeake Bay is a major factor in the preservation of the historic Rappahannock River. The Rappahannock serves as a source of recreation and scenic beauty in the county. The clean water initiative will also help to restore the oyster and crab population in the Bay.

For more information about upcoming events, advocacy and news related to the Rappahannock visit the Friends of the Rappahannock website at www.riverfriends.org.

Irene Morales Ward, Northern Virginia Real Estate

The writing on the wall was perfectly clear

Tue, 07 Oct 2008 09:29:10 -0500

In an attempt to increase home ownership among minorities and low to moderate income consumers, the Clinton Administration was instrumental in putting pressure on Fannie Mae to expand loan options to this demographic. The article in the New York Times from September 30, 1999 is crystal clear in its analysis and prediction.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Why then did no one pay attention? Because there was money to be made - no doubt! Whether or not you choose to lay blame on the Democrats or Republicans; the Feds or the lending institutions; Freddie Mac and/or Fannie Mae; the consumer or the Realtor for this downfall, it clearly didn't just start 2 years ago. Most of us in the business saw this coming like a runaway train on the verge of derailing - with little to no choice but to watch the impending train wreck!

Irene Morales Ward, Northern Virginia Real Estate

Forbes Ranks Stafford as One of the Best Places to Get Ahead

Mon, 06 Oct 2008 10:49:36 -0500

Many counties in the Commonwealth of Virginia have much to brag about. Whether it's a safe, beautiful place to raise your family, or a culturally diverse, exceptional school system, we all have much to boast about.

Stafford County had been given a pat on the back by Forbes.com as being one of the best places in the country to get ahead. They based this on several factors:

Income and job data from the U.S. Census and Department of Labor Statistics
Locations where median income was rising the most quickly
Limited list to counties where the median income was at least $75,000.
Study of job growth information as far back as 2000

Forbes.com stated that "Stafford County has a proven ability to land federal jobs and companies with government contracts, as well as to attract businesses from all over the country..."

Statistical information from the Virginia Employment Commission shows:

Stafford is fourth in Virginia in terms of the growth in businesses, by percentage, with an increase of 36.7 percent from 2002 to 2007.
Stafford is third in the Commonwealth in at-place employment growth with a 34.3 percent increase.
Stafford now has 2,132 businesses and 34,832 individuals employed in the county.
Professional and technical services jobs more than doubled from 2002-2007 in Stafford.
Stafford's new professional jobs growth in the last five years has propelled the county's average weekly wage to more than $40,000 a year for the first time, placing the county second, by percentage, in the Commonwealth in terms of average weekly wage growth.
Stafford experienced an increase of 43.3 percent in its average weekly wage from 2002 to 2007.

Earlier this year Forbes.com also stated that Stafford was the 11th wealthiest county in the United States, basing their rankings on median household income data estimates from the 2006 census. Stafford's median household income is listed at $85,014.

Here are a list of some of the top Government and Defense Contractors located right here in Stafford County, all of whom currently have positions available:

BAE Systems
Booz, Allen, Hamilton
Northrup Grumman
Lockhead Martin
Apogen Technologies
Pitney Bowes
L-3 Communications
QinetiQ North America
Titan - 2
ITT Defense Electronics
Mtcsc
Saic
General Dynamics Information Technology
Department of Defense
Science Applications
URS
Department of the Navy
Navy, US Marine Corps (Quantico)
C2 Portfolio Essentials

Irene Morales Ward, Northern Virginia Real Estate

Stafford County Revises Comprehensive Master Plan

Tue, 23 Sep 2008 10:01:01 -0500

As a county resident, I am always trying to stay abreast of plans to make any significant changes that may have an impact on the integrity of the county. The best way I know to do that is to review the County's Comprehensive Plan. As of September 17, 2008, Stafford County has made available its updated draft which should be of particular interest to all county residents. With information about zoning, roads, schools, etc, you will be able to access just about anything that is of concern to you.

Table of Contents

Chapter 1 - Introduction

Chapter 2 - The Foundation for the Future (Goals, Objectives, and Policies)

Chapter 3 - The Land Use Plan
    Figure 3.1 Urban Services Area
    Figure 3.2 Urban Development Area
    Figure 3.3 The Land Use Map

Chapter 4 - The Public Costs of Growth and Development

Chapter 5 - The People and the Place (Existing Conditions)
   Figure 5.1 Existing Land Use
    Figure 5.2 Existing Zoning
    Figure 5.3 Population Density
    Figure 5.4 Cultural Resources
    Figure 5.5 Schools
    Figure 5.6 Community Facilities
    Figure 5.7 Infrastructure
    Figure 5.8 Major Electric and Gas lines
    Figure 5.9 Parks and Recreation
    Figure 5.10 Natural Resources
    Figure 5.11 Watersheds
    Figure 5.12 Geological Zones
    Figure 5.13 Mineral Resources
    Figure 5.14 Transportation

Appendix

Irene Morales Ward, Northern Virginia Real Estate

3rd Quarter Sales in Stafford

Tue, 23 Sep 2008 09:15:12 -0500

22405 - 89 Sold and Under Contract

22406 - 61 Sold and Under Contract

22554 - 216 Sold and Under Contract

22556 - 95 Sold and Under Contract

Irene Morales Ward, Northern Virginia Real Estate

Southern Gateway Redevelopment Forum

Sat, 20 Sep 2008 12:02:22 -0500

A public forum has been scheduled for Thursday, September 25^th at 7pm at the Riverside Dinner Theater on Riverside Parkway in Stafford to discuss the Southern Gateway projects. The Southern Gateway is located on US-17 between its interchange with I-95 and Berea Rd. For those of you familiar with the 17 corridor in Stafford County, traffic and congestion are words commonly used to described it.

The roadway is used by travelers going from Midwestern and Northern states as well as Canada to the Southern states. It is also a bypass for those wishing to avoid Washington DC metropolitan traffic. Currently, the area is filled with industrial buildings and is serviced by small roads and driveways for access. The goal of the redevelopment is to "create an alternative development pattern which focuses on compact, mixed-use properties with access to new civic and cultural uses, shopping, work and public spaces."

Private investment is already underway in the form of several smaller projects as well as two large scale proposals. "Celebrate Virginia - Corporate Campus" is a 2,400 acre mixed-use development and "Carter's Crossing" is a 35 acre retail complex.

The Southern Gateway work is being most strongly supported by Stafford Board of Supervisors Chairman George Schwartz. "I am happy to champion this effort" said Schwartz, "because the Southern Gateway is an area of great potential. Redevelopment will allow us to offer more business, shopping, restaurant and entertainment opportunities to our residents while also improving traffic flow through the area. It will complete the work that we are doing with the redevelopment of Falmouth and help improve the quality of life for our citizens and our business partners along this major highway corridor."

For more information you can contact the Department of Economic Development at 540-658-8681 or on the web at www.gostaffordva.com/Southern-Gateway.cfm.

Irene Morales Ward, Northern Virginia Real Estate

Get Out and Register to VOTE!

Wed, 17 Sep 2008 18:16:36 -0500

The Stafford County Registrar of Voters has posted the schedule for voter registration and absentee voting related to the general election to be held November 4^th.

The last day to register to vote in this election is Monday, October 6^th. Forms may be obtained at the registerʼs office or on line through the Stafford County website.

Absentee voting begins this Monday, September 22^nd and can be dropped off at the Registerʼs office until Saturday, November 1^st or mailed in to the Register no later than Tuesday, October 28^th.

By law, the Office of the Register will be open from 9am-5pm on the two Saturdays prior to the election; October 25^th and November 1^st.

MAILING ADDRESS

Registrar of Voters

PO Box 301

Stafford, VA 22555

OFFICE ADDRESS

Registrar of Voters

1300 Courthouse Rd

Stafford, VA 22555

Phone: 540-658-4000

Mortgage Rates on 30yr Fixed Dropped w/ Fed Intervention

Wed, 17 Sep 2008 17:50:27 -0500

As predicted, following the government take-over of Fannie Mae and Freddie Mac nationwide survey reports released recently show that rates for a 30-year fixed mortgage have dropped to 5.93%. That is the first dip below 6% since late May.

The newly created Federal Housing Finance Agency (FHFA), now in control of the two mortgage giants, announced new leadership for each organization. Philip A. Laskawy will be the new Chairman at Fannie Mae and John A. Koskinen will become Chairman at Freddie Mac. Mr. Laskawy spent over 40 years at Ernst & Young serving as CEO from 1994-2001. Mr. Koskinen served as CEO of the consulting firm Palmieri Co. from 1979-1993. He has held numerous government and corporate posts since then. Both men are highly qualified financial experts and will function as corporate board chairmen and report directly to the administrator of the FHFA.

The FHFA also announced this week hat they have taken steps to ensure that the ousted leaders of the two mortgage giants will not receive multi-million dollar severance packages --- at the expense of the American taxpayer.

Recycling Days in Stafford

Mon, 15 Sep 2008 20:10:55 -0500

The Rappahannock Regional Solid Waste Management Board has set four days for county residents to rid their homes of old and broken electronics. Beginning Wednesday, September17^th and continuing through Saturday, September 20^th Stafford residents will be able to drop off various electronics at the Regional Landfill located at 489 Eskimo Hill Rd. This is a safe and environmentally safe way to dispose of electronics.

Since the county began this service in 2003 over 300 tons of unwanted electronics have been collected. Proof of residency will be required to drop off. The landfill will be open from 8am to 4pm. A list of accepted items is below. For additional information please contact the solid waste Board at 540-658-4579 or on the web at www.r-board.org.

∙ Televisions

∙ Computer monitors, CPU's, Laptops and external drives

∙ Printers, scanners, copiers and fax machine

∙ Computer wiring, uninterrupted power supplies and accessories

∙ Gaming systems

∙ Stereos and speakers

∙ VCR's, camcorders and cameras

Irene Morales Ward, Northern Virginia Real Estate