Wendy Powers's (wpowers) Blog

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Real Estate Broker/Owner - Realty Direct
RECENT BLOG POSTS
Fairfax and Loudoun County and really allow around the Beltway...we need to add those homes less than $550K.  Good time to get on the market if you need to move a home this year.  Lots of buyers with few homes.  Multiple contracts with escalations are back in many areas.   Builders are fighting o...
03/18/2011
As the economy looks upward, many foreign investors are starting to look at the United States as a better home investment play than China.  Inventory will still be an issue in many places for anyone looking in the Fairfax County and Washington DC Metro area, but the interest is climbing. Recently...
03/15/2011
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Want to learn more about the new processes and things to watch out for.  Come to my FREE webinar on HUD and Buying Homes from HUD. Learn about types of HUD homes. Purchase time frames. Offers and Bidding and Much More Here is the link for March 23 from 1-2 p.m. = Webinar. https://www1.gotomeeting...
03/15/2011
HARP refinancing and short sales are growing.  People with 80-125% loan value can refinance with HARP to reduce their interest rates.  Program was extended to mid of 2012.  Lots of people are learning about these and working on doing these now.  To find out if your loan qualifies, call these numb...
03/15/2011
Short sales become in and out of clarity when processing them.  But, some of the new laws help people with government back loans with a more incented program for banks to help process the short sales faster.  Even funds for seller to get moving assistance.  Short sales are moving faster in many a...
03/14/2011
FHA 90 Day Flip Rule is Waived Until December 31, 2011 The Dept. of Housing and Urban Development (HUD) announced it is instituting a one-year moratorium on the Federal Housing Administration (FHA) 90-day anti-flipping rule. With certain exceptions, such as HUD-owned and bank-owned properties, FH...
03/14/2011
Maryland Non Resident Withholding Tax at Settlement has Changed to 6.75%.  So, for those of you thinking about selling and concerned about taxes withheld in Maryland home sales...This is important to you.  Some states do not do this and some do.  So, double check this if you are able to sell a ho...
03/14/2011
Fairfax County Clerk of the Court John Frey has released new rules for refinance transactions using the same lender. Virginia Code grants an exemption from recordation tax charges for refinancing mortgage debt with the same lender that financed the original obligation. Beginning March 14, those s...
03/14/2011
Many clients ask where is the inventory right now in Loudoun County and Fairfax County?  The escalation clause is out again.  Without a lot of new properties coming on the market (besides a scatter of short sales and even fewer REOs) it has caused what feels like a shortage.  Those that could sel...
03/10/2011
A lot of people are buying homes in communities with older homes that need to be updated or upgraded.  Sometimes buyers do not think about financing those items with a FHA 203k.  Most think about just buying the home via a normal FHA loan process and spending money out pocket as they have it.  Ho...
02/16/2011
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Wendy Powers

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