What Steps Should Home Buyers Take First
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How Much Is Your Greenwich Hill House Worth?
Originally posted at: https://www.comehomevirginia.com/greenwich-hill
GREENWICH HILL FUTURE HOME OWNER ADVICE
Originally Posted: www.comehomevirginia.com/buying-a-house-in-northern-va-prepping-for-success
Throughout the Prince William County region of Virginia our local economy and employment numbers continue to be strong, which is continuing to entice more home buyers to enter the market place. Northern Virginia including the Greenwich Hill Neighborhood here in Woodbridge is experiencing an exceptionally strong seller's market condition due to extremely low inventory of available houses for prospective home owners to choose from, and where they often find they must compete with one or more other hopeful home buyers for the same house. In a strong competitive market such as this it is important for you to avoid these
8 Seller's Market Mistakes. Greenwich hill woodbridge va 22191 home seller
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search.
Even if you are in a less competitive market than we have in N. Virginia, having preapproval will always give you a negotiating advantage over someone who does not have pre-approval and understanding your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website: Home Buying Northern Virginia home buyer www.comeHomeviringia.com
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
However selecting the loan officer to work with is not the first real estate professional to sign-up for your team. Instead the first member of your real estate team you should sign-up is your real estate agent (Buyer Agent). Why? Well your buyer agent is the only person that has a fiduciary responsibility to you (this is established by means of a document often called a "Buyer Broker or Buyer Agency Agreement". One of the many advantages of working with a local real estate professional is that should have relationships with a variety of lenders and should be able to advise you as to which of them may best be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”
CLICK MAP current available homes Greenwich Hill
Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow: N. Va first time home buyer tips
- Capacity: Your current and future ability to make your payments
- Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
- Collateral: The home, or type of home, that you would like to purchase
- Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Bottom Line
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.
2 YEAR 100% HOME BUYER HAPPINESS GUARANTEE
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You can find Dave on many social media platforms or on his N. Virginia Website Blog. He's an active online real estate marketer who loves helping residential real estate Sellers and Buyers in the Virginia Metro Area.
source: www.comehomevirginia.com/buying-a-house-in-northern-va-prepping-for-success
GREENWICH HILL NEIGHBORHOOD INFORMATION
Greenwich Hill is a charming and conveniently located established community just minutes from interstate 95 off Occoquan Rd. Old Bridge Rd. and Route 123. Is a great and moderately priced townhouse community in the Lake Ridge - Occoquan areas.
Community has a wide variety of amenities for children and adults making it a wonderful choice for singles, couples and families to call home. Features including walking paths, convenient commuting options, playground and play area for kids, community pool and basketball court.
Located in Woodbridge, Va 22191 The streets that make up the Greenwich Hill neighborhood are Deerfield Lane, Fox Run Place, Milbank Road, Putnam Circle, Rock Ridge Lane and Vineyard Way.
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