http://activerain.com/blogs/yourarlingtonrealtor en-us http://activerain.com/blogsview/1463448/going-green-the-new-nar-designation <p>I have just finished a two day Core course for my National Association of Realtors Green Designation. I have an elective to finish on Monday before my designation is complete.</p> <p>I know that Arlington, Va (where I live and work) leans green (hey, it rhymes)&nbsp;and I'll be checking out the programs and policies of the county I live in.</p> <p>It was a fascinating course. I have been always been environmentally conscious and have been stuffing my tolerant clients into my Camry Hybrid for a year now. I've learned alot over the last few days and will be sharing that over time.</p> <p>First things first, I will be changing out the rest of my light bulbs to CFLs. I learned that they are 90% more efficient then standard bulbs. Regular bulbs waste all the energy on heat. Who knew? Maybe you did, but not me. They last 4.5 years as opposed to standard bulbs which last an average of 167 days. I've been changing them out a bit at a time because I knew they saved energy and money over the life of the bulb, but 90% energy savings? Wowser!&nbsp;Even though they cost more (average of $14.00 as opposed to $.50) over the life of the bulb it will save an average of&nbsp;$62.95. &nbsp;My clients will be getting CFLs at closings</p> <p>Just change one today. Do it for Mother Earth or do it for your pocketbook but just do it.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sat, 30 Jan 2010 07:38:57 -0600 http://activerain.com/blogsview/1463448/going-green-the-new-nar-designation http://activerain.com/blogsview/1449897/listing-and-buying-as-is-property <p>As is.....or not?</p> <p>I've been asked quite a bit by buyers about "as is" properties and if&nbsp;can they still ask for things to be done after the home inspection&nbsp;even if they buy the property "as is"</p> <p>IMHO buyers need to be counseled that "in general" if a property is sold "as is" (and I don't just mean&nbsp;with a&nbsp;disclaimer but that there is an "as is" addendum) then they should make their offer assuming that the seller will do nothing and a home inspection is simply for an informational, buy it or not, purpose. It seems like some buyers are taking the approach that we'll accept the "as is" addendum but after the home inspection we'll ask for stuff anyway or threaten to void the contract (acceptable contractually in Virginia, maybe not other places). While this may be acceptable and while the seller may in some cases appreciate the opportunity to do something rather than have the buyer walk, it is not a practice I would encourage. The&nbsp;terms of the contract are&nbsp;entered into in good faith. The buyer should offer a price based on the knowledge that the property is "as is" and be willing to accept some risk and some issues that will need to be resolved. It should not become like any other home inspection where the buyer goes back to the seller with list of items to be fixed or a credit to be given.</p> <p>&nbsp;In&nbsp;this area (Arlington, Va, Alexandria, Va, Mclean and Falls&nbsp;Church, Va)&nbsp;most "as is" homes are estates or foreclosures so it is unlikely work will be done. On a short sale, the seller doesn't have any money anyway and&nbsp;if you asking for a credit, everything has to go back to the lender(s) further delaying this incredibly arduous process. Yuck.</p> <p>Sellers should know that they will very likely get less for their home because they are offering it "as is". There are a high number of buyers who are unwilling to go through the process if they feel that plumbing and electrical defects and other home inspection items will not be corrected. Anytime you take potential buyers out of the mix you can expect to get less for your house. That being said then the buyers should present an offer based on this knowledge and at least try to stick with the intent of the contract.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sat, 23 Jan 2010 09:45:12 -0600 http://activerain.com/blogsview/1449897/listing-and-buying-as-is-property http://activerain.com/blogsview/1428940/open-houses-should-realtors-do-them-once-more-the-answer-is-yes-at-least-in-arlington <p>I read a blog this morning (again) about why we should not do open houses any more.</p> <p>Baloney (and I mean this in the nicest way).</p> <p>Here's how I feel about this.....keeping in mind, every geography is different but this is how things are here:</p> <p>The writer was worried about their safety. Of course every realtor must look out for their personal safety and if they are concerned may want to consider partnering with someone on open houses. Same goes for showing property when meeting a client for the first time.</p> <p>The writer said people that do open houses have not embraced the internet as the way to sell listings. I spent 20 years in technology before going into real estate. The internet is my friend and I use it extensively to market properties&nbsp;(and myself)&nbsp;However, I think it's important to not forget there are other ways. I am working with a client now that got my cheesy real estate refrigerator magnet in the mail and was happy to find a realtor that was in the area he was looking. I am working with another client that came to an open house and although it was not the right home for her I am working with her to find another property. I also have&nbsp;that same&nbsp;listing under contract&nbsp;because the&nbsp;buyers first saw it at an Open house. It's a listing that doesnt' get alot of "internet looks" because it only has 1 bath and does not come up on alot of searches, but it's in a great area where we get alot of people that will stop in because they saw the open house sign.</p> <p>I think it's a mistake to throw away tried and true methods of selling property and gaining clients. The internet is wonderful add on and must be embraced but there is nothing as good as face to face when selling the advantages of your listing. If it gets to the point where no one buys one of my listings after seeing it at&nbsp;an open house then maybe I'll stop&nbsp;doing them,&nbsp;but for me, in this area, they still work.</p> <p>From the sellers perspective your job is to get the home visibility. Yes, they may not like having neighbors come through the house but guess what.....one of them may have a friend looking in the area. Yes, there is some risk but isn't there always when someone shows their house? Unless they are going to stay there and follow the potential buyers around they have to be willing to accept some risk of strangers in the house.</p> <p>So, I will keep doing them unless my seller says "no". So there.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 12 Jan 2010 07:53:14 -0600 http://activerain.com/blogsview/1428940/open-houses-should-realtors-do-them-once-more-the-answer-is-yes-at-least-in-arlington http://activerain.com/blogsview/1411742/saying-goodbye-to-2009-in-arlington-va-was-it-really-so-bad- <p>So yesterday I had my annual New Year's Day Open house (not the real estate kind, the Mimosa kind) and there seemed to be this overwhelming relief that 2009 was over and good riddance.</p> <p>Really......was it so bad? I may be a bit biased because my real estate year wasn't so bad, in fact it was pretty darn good. Yeah, I had to work alot harder for it but it builds a bit of character. Certainly it was better than the year before. I know&nbsp; I'm not alone here.</p> <p>Among the people who came to visit yesterday...almost everyone was gainfully employed. One person who had lost their job was just starting another thanks to some stimulus money. Certainly better than the year before. A couple of others had children finishing their first semester of college. Yes, more went to state schools then might have a few&nbsp; years ago, but how lucky are we to live where there are good state university options available.</p> <p>Most of the folks have SEPs and 401s. Pretty darn sure most of them saw a big difference in their balance at the end of this year as compared to last....not really so bad. And, guess what, most of us aren't losing sleep over our financial institutions collapsing anymore. Now we're just mad that they're making too much money. Maybe that's not great, but is it really so bad? Certainly better than the year before.</p> <p>I too am looking forward to 2010. Yes, there is much work to be done&nbsp;but, I prefer to think of it as continuing improvement on a year that when all was said and done wasn't really so bad.</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sat, 02 Jan 2010 16:22:04 -0600 http://activerain.com/blogsview/1411742/saying-goodbye-to-2009-in-arlington-va-was-it-really-so-bad- http://activerain.com/blogsview/1405760/standard-and-poors-case-shiller-home-price-index-washington-dc-numbers-for-october <p>The Case Shiller Home price index for October has come out. If you don't know what this is, it is an index that tracks changes in prices in residential markets for 20 metropolitan area. One of the reasons that I like it is it really points out something we know but sometimes forget when bombarded by the media....real estate really is local. Some areas have dropped dramatically since the peak of 2006 and others have had more modest declines. Same for an improving market.</p> <p>There were modest gains in many areas in the September to October time frame. The largest increase was in San Francisco with a 1.2% increase. The largest decrease was shared by Atlanta and Chicago with a 1% decrease in values. The Washington DC area showed a -0.4% decrease. This followed at 0.5% increase for the August/September time frame. YTD home prices are down 2.8%. A relatively modest drop. I have said this before but I believe the market has bottomed here and these numbers indicate what what I believe to be the case in our area.....a flat market. I think we will see that for some time to come. I'll be keeping an eye on the #s to see if this is indeed the case. I am always willing to readjust my thinking if the #s prove me wrong.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 29 Dec 2009 12:08:46 -0600 http://activerain.com/blogsview/1405760/standard-and-poors-case-shiller-home-price-index-washington-dc-numbers-for-october http://activerain.com/blogsview/1402600/some-advice-for-buyers-in-a-buyers-real-estate-market-arlington-va- <p>Over the past year I have picked up on a buyer syndrome that hurts them when it comes to procuring the home the really want.</p> <p>The syndrome is believing that you can make a really low offer no matter how the home is priced. I'm writing about this because I have seen buyers frustrated time and again. Granted we have more active buyers in our local market then in many other area of the country but I have to believe that this situation occurs in other areas as well.</p> <p>Please note......the greatest&nbsp;advantage of working with a knowledgeable realtor is knowledge. Use it. If a home comes on the market that you really, really like and your agent looks at the comps and tells you it is priced really well do not try and low ball the seller. You will not get the home and you will be very sad and tell your realtor "I don't understand I thought it was a buyers market". Indeed, it may be, but often the seller will also have a knowledgeable realtor who has looked at all the comps, advised the seller and the seller has priced the home to sell quickly. If you have a good agent and they tell you home is priced well, believe them. In our market, these homes will get multiple offers and sometimes more than asking. Don't go through two or three of these scenarios before you figure it out. Listen to your realtor. He or she will be able to tell you if the house is priced at a point where they will eventually have to come down, or if it's priced where you need to act NOW with a good offer in order to get the house.</p> <p>This does not apply to situations where you don't really care if you get the house or not. If you like it enough and want to make an offer for what it's worth (to you), and won't be inconsolable when someone else scoops it up then by all means give it a go. Who knows, you may get lucky. But if it's&nbsp;"the one", then even though it may be a bit more than you hoped, it's still ALOT less then you would have paid a couple of years ago and you can get a lot of consolation and comfort out of that while you're enjoying your new home. &nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sun, 27 Dec 2009 11:46:26 -0600 http://activerain.com/blogsview/1402600/some-advice-for-buyers-in-a-buyers-real-estate-market-arlington-va- http://activerain.com/blogsview/1399678/happy-holidays-from-mystic-and-the-arlington-virginia-area <p><img title="Mystic in the Snow" src="http://activerain.com/image_store/uploads/9/2/6/2/9/ar126165877792629.jpg" height="389" alt="Arlington Virginia Snowstorm image zip code 22205" width="338" /></p> <p>Mystic the wonder dog and I extend our Holiday wishes to everyone for a wonderful season with friends and family. I am grateful this year for the warmth of my neighbors, my clients, my friends and all those who have come into my life and especially those that have stayed. In spite of the economy it has been a good year for us and we have all those that support us and love us to thank. We love you too!</p> <p>There have been a few rough patches this year for us. Some tough times&nbsp;for my daughter in her Freshman year at college, Mystic's eye surgery and the scourge of short sales for me (I know....we all share that burden).&nbsp;But we have much more to be thankful and grateful for than we do to complain about so on balance it's been great. We are looking forward to a wonderful 2010. Happy Trails!</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 24 Dec 2009 06:55:17 -0600 http://activerain.com/blogsview/1399678/happy-holidays-from-mystic-and-the-arlington-virginia-area http://activerain.com/blogsview/1396581/real-estate-statistics-for-arlington-va-zip-code-22205-for-november-2009 <p>&nbsp;</p> <p>These statistics are from our multiple listing system and do not include for sale by owner transactions or any other unreported transactions that do not appear in the MLS. By way of disclosure, 22205 is the zip code I live in although I have lived (a couple of times) in 22207 and work in all Arlington zip codes as well as other Northern Virginia cities. &nbsp;</p> <p>I think it's worth noting that the average sold price has stayed relatively stable&nbsp;while the average list price has gone up. The average sales price as a percentage of the list price has dropped. &nbsp;In general what I am seeing is a pretty stable market. It's too early to say there is a trend but if you just looked at this chart you might conclude that we have gotten a bit over-excited about the market and priced things a bit too high perhaps resulting in a lower # of units sold and an increase in the days on market. We have certainly seen an increase in activity but (again a bit too early to say) buyers are still looking for the big bargain and with the extension of the buyer credit are willing to wait a bit. I will keeping an eye on these #s to try and gauge what buyers are willing to pay and see if there are any notable trends here.</p> <p><strong><span style="text-decoration: underline;">Total Sold:</span></strong></p> <p>2008: $9,512,883.00</p> <p>2009: $7,975,500.00</p> <p><strong><span style="text-decoration: underline;">Average Sold:</span></strong></p> <p>2008: $731,760</p> <p>2009: $725,045</p> <p><strong><span style="text-decoration: underline;">Average Days on Market:</span></strong></p> <p>2008: 38</p> <p>2009: 74</p> <p><strong><span style="text-decoration: underline;">Average List price:</span></strong></p> <p>2008 $757,860</p> <p>2009 $775,927</p> <p><strong><span style="text-decoration: underline;">Average Sales Price as a percentage of list:</span></strong></p> <p>2008: 96.56%</p> <p>2009 93.44%</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 22 Dec 2009 06:39:56 -0600 http://activerain.com/blogsview/1396581/real-estate-statistics-for-arlington-va-zip-code-22205-for-november-2009 http://activerain.com/blogsview/1396549/recycling-trash-pickup-and-real-estate-in-arlington-county-virginia <p>I received an email from the county that if your (mine) trash and recycling pick up is Monday or Tuesday this week, it is cancelled. The pickup will occur on the 28th or 29th.</p> <p>I would like to say that my cul-de-sac is plowed but alas.....not so. I did however, leave the cul-de-sac yesterday. Woo hoo! A little slick but managable. Still too hard to show houses though.&nbsp;Can't find a place to park, side streets are still unplowed.</p> <p>Also, no mail again. This is a first. I have not received mail since Friday. This will definitely be a snowstorm to remember.</p> <p>Wow. This is definitely an enforced vacation. I will try and enjoy it, I will try and enjoy it, I will try and enjoy it. There.....I'm enjoying it. :-)</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 22 Dec 2009 05:52:06 -0600 http://activerain.com/blogsview/1396549/recycling-trash-pickup-and-real-estate-in-arlington-county-virginia http://activerain.com/blogsview/1395048/first-time-home-buyer-credit-changes <p>So while I am waiting for the snow plow here's a review of the changes in the first time home buyer credit. We've talked about this a couple of times but questions keep coming up so here's what I know at the moment:</p> <p>To Qualify for the credit the purchaser must have a contract in place no later than April 30, 2010 and closing must happen no later than June 30, 2010.</p> <p>Income limitations have been increased. the credit phases out between $125,000 and $145,000 modified ADJUSTED gross income for individuals and between $225,000 and $245,000 for married couples.</p> <p>The price of the house purchased can be no more than $800,000. If you spend more than $800,000 on a house on or after November 6, 2009 you will receive NO CREDIT.</p> <p>If you have owned your home and lived in it for five consecutive years during the last eight you can qualify for a credit of 10% of the price of a new home up to $6500.00. You do not have to sell your existing home but your new home must be your primary residence.</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Mon, 21 Dec 2009 09:24:08 -0600 http://activerain.com/blogsview/1395048/first-time-home-buyer-credit-changes http://activerain.com/blogsview/1395035/snow-report-from-the-cul-de-sac <p>The snow report from the cul-de sac in Arlington, Va. is.....whew, that's alot of shoveling. The driveway is cleared, the car is clean and now I am having a fantasy that the snow plow will come and clean the cul-de-sac. I am closing my eyes and seeing it happen. I could use a little help from you folks out there. Close your eyes and see the snow plow. :-)</p> <p>Your Arlington Realtor</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Mon, 21 Dec 2009 09:18:13 -0600 http://activerain.com/blogsview/1395035/snow-report-from-the-cul-de-sac http://activerain.com/blogsview/1394006/the-snowstorm-overlee-knolls-arlington-va-22205 <p>&nbsp;</p> <p><img title="My front porch" src="http://activerain.com/image_store/uploads/8/5/0/1/9/ar126133843991058.JPG" height="332" alt="View From more porch. Overlee knolls Arlington, Va real estate" width="462" /></p> <p>&nbsp;</p> <p>Two feet of snow later, this is the view from my front porch. Lots of shoveling going on but it's a beautiful day. I have the home for sale across the street. I don't think anyone can get down the street to see it. It's in Overlee Knolls, Arlington, Va. Hopefully, the plows will have come by tomorrow. Hope springs eternal. In the meantime, I'm just trying to enjoy the day.</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sun, 20 Dec 2009 13:52:23 -0600 http://activerain.com/blogsview/1394006/the-snowstorm-overlee-knolls-arlington-va-22205 http://activerain.com/blogsview/1390395/yikes-stripes-the-new-hud-1-and-good-faith-estimate <p>So......I sat in on a educational session for the new HUD-1 today. For any non-realtor readers....this is the statement that you get before (hopefully) settlement that tells you what all your charges are and if you are a buyer what you have to bring to the table (in terms of money) and if you are a seller what you will net (hopefully on the positive side).</p> <p>Well, not many changes to the HUD-1 itself but the rules and regulations relating to the good faith estimate, of what the HUD-1 charges will look like, that lenders provide buyers have become quite onerous. The bottom line is that a lender must work very closely with the settlement company and must be knowledgeable about the cost of&nbsp;such items as pest inspections and transfer taxes as well as their own origination fees.&nbsp;The actual charges cannot exceed the estimate by more than 10%&nbsp;or they must re-disclose and the buyer MUST (even if they don't want it) have three days to review the new good faith estimate. That is, unless the charges increase because of buyer initiated changes. So....lenders, you've got to get this right. Sure seems to me that the pendulum has swung far in the direction of conservatism. We've gone from some lenders writing loans for anyone that was breathing to&nbsp;a heavy administrative burden for these folks. Seems like many will be punished for the bad behavior of a few.</p> <p>I'll be studying the forms so I can help my buyers through this but I'm hoping that the lenders I work are up to the task of implementing these new forms and regulations. Phew.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 17 Dec 2009 16:51:12 -0600 http://activerain.com/blogsview/1390395/yikes-stripes-the-new-hud-1-and-good-faith-estimate http://activerain.com/blogsview/1389299/holiday-season-in-arlington-va <p>Things seem to be finally slowing down for the Holidays.</p> <p>We do need more inventory for buyers so I hope we see some homes coming on after January.</p> <p>On my "to do" list this year&nbsp;is education. I will be getting trained on the new HUD-1 one form today so I'll blog onthat tomorrow. and will be getting my "green" designation next year so I can help buyers and sellers make their homes more energy efficient and environmentally friendly.</p> <p>I bought a hybrid car this year....Toyota Camry. I am doing alot more driving this past year than other years. Many buyers have expanded their geographic search as the real real estate&nbsp;bargains seem to be outside the Washington, DC beltway. It's a little small for showing homes but so far buyers seem ok with it. If you're a buyer and you've got a comment on this, let me know. The only real downside is the trunk.....there really isn't one. The battery is in there so I can just get my open house signs in and that's about it.</p> <p>Happy holidays!</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 17 Dec 2009 06:47:04 -0600 http://activerain.com/blogsview/1389299/holiday-season-in-arlington-va http://activerain.com/blogsview/1382195/new-fannie-mae-automated-underwriting-du-eligibility-changes- <p></p><div id="reblogging_tag">Via <b><a href="http://activerain.com/blogsview/1382029/new-fannie-mae-automated-underwriting-du-eligibility-changes-">George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT.</a></b>:<br/><blockquote><p>Today Fannie Mae&nbsp;released Automated Underwriting (DU) Version 8.0&nbsp;and these changes are bound to have a big impact <img src="http://activerain.comhttp://activerain.com/image_store/uploads/8/2/1/5/5/ar12565917955128.jpg" height="194" alt="" style="float: right; margin: 10px;" width="217" />especially on multi-family houses.&nbsp; Some of the&nbsp;changes included in this release are as follows:</p> <ul> <li>Minimum FICO score 620 (was 580) </li> <li>2 Unit Owner Occupied Property - maximum LTV 80% for purchase &amp; rate/term refinance (was 90%) </li> <li>2 Unit Owner Occupied Property - maximum LTV 75% for cash out refinance (was 85%) </li> <li>2 Unit Investment Property - maximum LTV 75% for purchase &amp; rate/term refinance (was 80%) </li> <li>Unit Investment Property - maximum LTV 70% for cash out refinance (was 75%)</li> </ul> <p>In addition to the eligibility changes listed above, the updated version (DU 8.0) will limit the <strong>maximum allowable </strong>total expense ratio to 45 percent, with flexibilities offered up to 50 percent for certain loan case files with strong compensating factors.</p> <p>If current debts exceed the maximum allowable total expense ratio, the loan case file will receive an Ineligible recommendation. DU will no longer return a Refer recommendation on loan case files that would have otherwise received an Approval,&nbsp;but had exceeded the maximum allowable total expense ratio.</p> <p>All new cases submitted to DU will now be scored with the 8.0 version and the new eligibility will be applied. New cases submitted prior to today will be scored with the current version DU 7.1 and will continue to score as DU 7.1 on subsequent submissions, however, loans using DU version 7.1 must close by February 12, 2010.</p> <p>I would <strong>STRONGLY </strong>recommend that if you&nbsp;have run a Borrowers file through DU before today, and received an Approved/Eligible, but&nbsp;the Borrower has&nbsp;not gone under contract yet, that you run it through DU again.&nbsp; I am sure that there will be many Borrowers that received an Approved Eligible under version 7.1, that will no longer receive an Approved/Eligible under version 8.&nbsp; It would be a shame to have a Realtor that you partner with run around trying to find one of their Buyers a house, and the Buyer no longer qualifies.</p> <p>If you are a Realtor or a Buyer I would again <strong>STRONGLY</strong> recommend that you contact the Loan Officer or Broker that you are working with and ask them to run your file(s) through DU to make sure that you have not been affected by this change.&nbsp;</p> <p>&nbsp;******************************************************************************************************************</p> <p><em>Info about the author: </em></p> <p>George Souto is a Loan Officer who can assist you with all your FHA, CHFA, andConventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com</p></blockquote></div><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sun, 13 Dec 2009 05:42:06 -0600 http://activerain.com/blogsview/1382195/new-fannie-mae-automated-underwriting-du-eligibility-changes- http://activerain.com/blogsview/1382191/open-houses-some-thoughts- <p>Lots has been written about open houses. In particular whether or not to do them and who you represent when you do them.</p> <p>I believe when you are the listing agent your # 1 priority when you hold an Open House is to represent the owner. That being said...one way to represent the seller well and potentially get new clients is to be very aware of the neighborhood comps. Hopefully, if you've done your homework and your owner is working with you&nbsp;and the house is priced well and when you engage someone who has come to see the home you can let them know how it compares and the advantages of your home. That may get them talking about what they are looking for and lets face it, your listing may not meet there needs. Since they are at your open house and are interested in your area, knowledge of the other homes for sale in that area will go a long way to show them you are a pro and know your business. I usually print out the listings so I can actually show them and if the home they are in won't work for them,&nbsp;then often I'll get an appointment to show them one of the other listings (assuming they aren't already working with another realtor....which, of course, I ask them first).</p> <p>Knowledge and information are really the only things (along with a positive and helpful attitude) that we have to offer our clients. Showing you know the area that a buyer is interested in is one of the best ways to gain new clients.</p> <p>When I first started in the business, I did opens every Sunday....sometimes Saturdays too. Now I don't do them every weekend, but most and along with getting new clients, I have sold my listings that way. I find that often someone will stop into an open that they may not have considered, but they see the sign and when they are in the house, like it and come back with their agent. That's another reality of the business.....people often do not buy what they tell their agent they are looking for so they may not see your home unless they just happen upon your Open house sign when they are out. They may see that indeed it is easy to add an extra bathroom or finish the basement.</p> <p>Open houses used to be quite expensive with the cost of print advertising. Now with the ability to advertise your open house so many places on the internet (where people are really looking), the only cost is your time.</p> <p>I understand that the real estate market is different everywhere, but here in the Arlington, Va. area, open houses are very popular and I say....."Do them often, do them well". It is in your seller's and your best interest.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sun, 13 Dec 2009 05:36:23 -0600 http://activerain.com/blogsview/1382191/open-houses-some-thoughts- http://activerain.com/blogsview/1381704/i-need-a-house- <p>I have clients that need a single family house in Annandale, VA&nbsp;or Falls Church, Va under $350,000. Inventory is down and many sellers are waiting till after the holiday to list their home but we need a house ASAP. Needs to be clean but not necessarily updated. We need a basement....finished would be good and a fenced yard a plus. If your an agent or an owner and you've got one......CALL ME! My clients are well qualified an ready to write. Thanks.</p> <p>Jane Jensen</p> <p>571-228-5656</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Sat, 12 Dec 2009 15:56:57 -0600 http://activerain.com/blogsview/1381704/i-need-a-house- http://activerain.com/blogsview/1377897/great-house-walk-to-the-east-falls-church-metro-it-s-in-a-cul-de-sac-in-great-neighborhood- <table cellspacing="0" height="100%" cellpadding="0" width="100%"><tr><td bgcolor="#F7EEDD"><div style="text-align: center; font-family: georgia;"><table cellspacing="0" cellpadding="0"><tr><td><div style="text-align: center;"><img src="http://img.vflyer.com/render/images/2855858/20.jpg" /></div></td></tr></table><table cellspacing="0" cellpadding="0" width="754"><tr><td><div style="text-align: left; background-color: #FFFEFD;"><div style="border: 5px solid #454545; color: #FFFEFD; background-color: #454545;"><b>Photo Gallery</b></div><div style=""><table cellpadding="10" style=""><tr><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524456_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />mature fig tree</div></td><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524458_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Professional Landscaping</div></td><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524462_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Newly refinished Hardwoods</div></td></tr><tr><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524466_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Large lower level rec room</div></td><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524469_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Clean bright kitchen</div></td><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524472_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Gorgeours yard</div></td></tr><tr><td><div style="text-align: center;"><br /><br /><span style=""><img src="http://cdn.vflyer.com/r1/prodinsts/2/8/5/5/8/5/8/images/6524474_gallery.jpg" style="" /></span></div><div style="text-align: center;"><br />Raised bed for your veggies?</div></td><td></td><td></td></tr></table></div><div style="border: 5px #454545 solid; color: #FFFEFD; background-color: #454545;"><b>Description</b></div><div style="width: 700px; color: #7A7A7A;">New front steps and railing, new siding, professionally refinished hardwoods, new carpeting, new gutters, new windows. new paint, etc. Large lower level family room with door to fully fenced yard. Fenced yard has beautiful plants including a raised bed for veggies and two mature fig trees, storage shed too. Tons of storage space and a terrific location. Lots of expansion capabilities, add a bath, add a story, or just move in to this home with professionally landscaped yard. Great cul-de-sac location. <br />http://www.realvirginiahomes.com<br /><br /><br /></div><div style="border: 5px #454545 solid; color: #FFFEFD; background-color: #454545;"><b>Features</b></div><div style="color: #7A7A7A;"><table style="color: #7A7A7A;"><tr><td><b>Bedrooms: </b></td><td>3</td></tr><tr><td><b>Bathrooms: </b></td><td>1.5</td></tr><tr><td><b>Parking Spaces: </b></td><td>driveway </td></tr><tr><td><b>Year Built: </b></td><td>1953</td></tr><tr><td><b>Subdivision: </b></td><td>Overlee Knolls</td></tr><tr><td><b>Lot Size: </b></td><td>8636</td></tr><tr><td><b>School District: </b></td><td>Yorktown</td></tr><tr><td><b>Square Footage: </b></td><td>2128</td></tr><tr><td><b>Agent Name: </b></td><td>Jane Jensen</td></tr><tr><td><b>Broker: </b></td><td>Century21 New Millennium</td></tr><tr><td><b>MLS #: </b></td><td>AR7173251</td></tr></table><br /></div><div style="border: 5px #454545 solid; color: #FFFEFD; background-color: #454545;"><b>Location</b></div><div style=""><a href="http://maps.google.com/maps?q=6238+22nd+Rd.+N.+Arlington+VA+22205" style="color: #7A7A7A;">6238 22nd Rd. N. Arlington VA 22205</a><br /><br /></div><div><table cellpadding="5" style="color: #7A7A7A;" width="100%"><tr><td>Powered by vFlyer.com</td><td style="text-align: right;">vFlyer Id: 2855858</td></tr></table></div></td></tr></table></div></div></td></tr></table><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 10 Dec 2009 08:41:22 -0600 http://activerain.com/blogsview/1377897/great-house-walk-to-the-east-falls-church-metro-it-s-in-a-cul-de-sac-in-great-neighborhood- http://activerain.com/blogsview/1377853/doggie-needs-a-home- <p>Jackie Kyles posted this link to a doggie that needs a home for the holidays. She is West Virginia.</p> <p>Here is the link. Please pass it along and help get this doggie a forever home.</p> <p>http://www.petfinder.com/petnote/photoView.cgi?petid=15125459</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 10 Dec 2009 08:01:42 -0600 http://activerain.com/blogsview/1377853/doggie-needs-a-home- http://activerain.com/blogsview/1377847/northern-virginia-schools <p>Congratulations to Thomas Jefferson High School for the Sciences and Technology in Alexandria&nbsp;for once again being named US News # 1 school.</p> <p>According to them not only does TJ offer a challenging academic curriculum but the students do projects related to the social responsibility of educated people. This seems like a far cry from the "all about me and how much money I can make" that so much of the 80s centered around. Perhaps we are moving towards a more civil and caring society.&nbsp;Giving back is where it's at. I think I'll make that my 2010 motto.</p> <p>Also congratulations to Langley High School in Mclean, Va. The other local school to make this years list.</p> <p>My daughter graduated from Yorktown High School last spring. We have been through the public school system in Northern Virginia and it has been a great experience. We are so fortunate here to have wonderful schools thoughout Arlington, Fairfax and Alexandria. Go NOVA!</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Thu, 10 Dec 2009 07:57:38 -0600 http://activerain.com/blogsview/1377847/northern-virginia-schools http://activerain.com/blogsview/1376067/homes-for-sale-way-down <p>I was watching Good morning America this morning and they were reporting on some new housing statistics.</p> <p>The number of homes for sale in the hardest his areas is down 50% from this time last year. Good News. The reporter attributed this to the incredible interest rates, the lower home prices and the first time home buyer credit.</p> <p>IMHO alot of the credit goes to the credit. Alot of people that would not have bought were motivated by the credit. In some areas it's alot of money in others it's a small part part of the purchase but either way it's a serious psychological motivator. Who doesn't want a tax credit?</p> <p>I've certainly seen this come into play in my area (Arlington, Va., Mclean, Va, Falls Church, Va). I've already heard from people that are going to buy in the new year because of the $6500.00 repeat buyer program. So, of course that will continue to help sellers sell their homes.</p> <p>It's a great time buy or sell. The market is becoming stable for the first time in many, many years. We went from a complete sellers market to a complete buyers market in the proverbial blink of an eye. Now at long last things are evening out. For someone like me who has been in the business six years this is a breath of fresh air. Real Estate is Great!</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Wed, 09 Dec 2009 08:34:33 -0600 http://activerain.com/blogsview/1376067/homes-for-sale-way-down http://activerain.com/blogsview/1364100/interested-in-arlington-real-estate- <p>Here's a link to a great video posted on November 10 by the county on youtube.</p> <p>I've lived here for 18 years (almost 19 now....phew) and I've learned a few new things about my home.</p> <p>Arlington, Va is&nbsp;such a great place to live. I moved around alot growing up so I never really felt like I had a home town. This is it now. My daughter was born and raised here so it's home to her too.</p> <p>http://www.youtube.com/watch?v=ueV4TxjlQ2E</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Wed, 02 Dec 2009 06:11:56 -0600 http://activerain.com/blogsview/1364100/interested-in-arlington-real-estate- http://activerain.com/blogsview/1364086/price-reduction- <p>I'll be reducing the price on 6238 22nd Rd. N. Arlington, Va. 22205. It will be $629,900. That's a 20K reduction. Walk to the East Falls Church metro, Lost Dog Pizza (ABBIE award winner), minutes to I66 and it's in my Cul-De-Sac. You get to be my neighbor! It really is a great neighborhood. I was watching people in the cul-de-sac the weekend before last and it looked like a Norman Rockwell painting.</p> <p>This is a 3 bedroom 1.5 (easy to make it into 2) home with wood floors, fireplace, new windows and front steps, new siding and more. It's extra clean and ready for new owners. Call me to see it. 571-228-5656</p> <p>Real Estate is Great at Century 21 New Millennium.</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Wed, 02 Dec 2009 05:50:08 -0600 http://activerain.com/blogsview/1364086/price-reduction- http://activerain.com/blogsview/1363102/the-arlington-rap-song <p>Ok, Arlington is not the "hood". Check out this tongue in cheek video posted on youtube by a very funny young man, Remy.</p> <p>&nbsp;<a href="http://www.youtube.com/watch?v=4T1RMuoQnKo">http://www.youtube.com/watch?v=4T1RMuoQnKo</a></p> <p>For those that don't know...it looks like Remy lives in Garfield 1021. The "rap" is about the various neighborhoods in Arlington and the preponderence of Starbucks.</p> <p>&nbsp;</p> <p>&nbsp;</p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 01 Dec 2009 14:03:40 -0600 http://activerain.com/blogsview/1363102/the-arlington-rap-song http://activerain.com/blogsview/1362875/the-stock-market-real-estate-and-intuition <p>The National Association of Realtors announced that the pending home sale index went up a seasonally adusted 3.7% in October. Analysts were suprised and the stock market is rallying on the news.</p> <p>Why didn't anybody ask me? We could have had a rally last week. Really, when you're out here working every day you get a "feel" for the mindset of buyers. There are still plenty of people who want to and can buy a home but did not because they didn't "feel good" about it. With the stock market up, and&nbsp;the economy starting to pick up people are starting to feel better about things. I know the 6:00 PM news may say otherwise but when you're out here talking to people you start to just know how they are looking at things.</p> <p>Where are the odds makers when you need them. I could have made some big money if I could have bet on home sales going up.</p> <p>I understand that we are more fortunate here in the Washington, DC, Arlington, Va real estate market. Our unemployment is low and in general we are the last into and the first out of any slump. So, take heart in the heartland, I think things will be improving soon.</p> <p><a href="http://www.realvirigniahomes.com">http://www.realvirigniahomes.com</a></p><div class='agent_signature'><p>Jane Jensen</p> <p>NVAR Top Producer</p> <p>Century 21 New Millennium</p> <p>Mclean, Va.</p> <p><a href="http://www.realvirginiahomes.com">http://www.realvirginiahomes.com</a></p></div> Jane Jensen (Century 21 New Millennium) Tue, 01 Dec 2009 12:10:51 -0600 http://activerain.com/blogsview/1362875/the-stock-market-real-estate-and-intuition