buyers: Beware The Shadow
- 02/18/10 07:24 AM
For months, we've been expecting the next wave of foreclosures to hit the market. With a record number of homeowners defaulting on their mortgage payments, it's bound to happen sooner or later. According to yesterday's headlines from Housing Watch, we've got a "shadow inventory" of almost 1.8 million homes that are on the brink of foreclosure. Of the 1.6 trillion in existing mortgages packaged into mortgage backed securities by Wall Street, approximately $425 billion worth are "extremely late" on their payments.
Despite the best intentions at assisting distressed homeowners, bad mortgage debt continues to rise with little hope of reigning … (2 comments)
buyers: Appraisal Changes Come Due
- 01/12/10 02:21 AM
In September of last year, the U.S. Department of Housing & Urban Development (HUD) announced a change to FHA appraisal validity periods. The announcement was met with unanimous approval from all sectors; lenders, home owners & buyers, and yes, even appraisers.
The change to appraisal periods involved decreasing the validity time for FHA appraisals from six to four months for both existing homes and those under construction. Since the first of this calendar year, 2010, the new standard has been in effect. Why does the change matter? For those of us that have faced selling properties, only to encounter difficulties with the appraisal, this … (0 comments)
buyers: Our Economic Helter Skelter
- 11/25/09 05:41 PM
"Sooner or later in life, we all sit down to a banquet of consequences." Robert Louis Stevenson Is a Federal Housing Administration(FHA) crisis on the horizon? With FHA's insurance reserve ratio falling to the lowest level in history, at 0.53 percent, there are some who believe the FHA is the next subprime crisis waiting to happen. One of those is homebuilder, Toll Brothers Inc., CEO, Robert Toll. Toll predicts that just like the failed bank bailouts, the FHA will be next in the handout line. And, with the reserve ratio as low as it is, he may be on to something. According … (0 comments)
buyers: How Much Is Enough?
- 08/07/09 06:08 AM
In an e-mail I received last week, another agent reminded me of the public's perception of the real estate profession; not good. Earlier this week, a local Broker relayed the story of her most recent marketing appointment. It took place in a home situated in a local neighborhood, The Glens, in Stafford, VA.
Its developer, Augustine Homes, has a reputation for outstanding craftmanship and a quality product. Homes in their subdivisions aren't cheap. Their neighborhoods and accomodations are anything but sparse. As a matter of fact, they're some of the most expensive homes in the area. And, their subdivisions are the kind you and I wouldn't mind living … (0 comments)
If you're looking for Stafford and Fredericksburg area homes, this simple resource is just that, simple, easy, and gives you homes, and nothing else. So, take advantage of: http://www.searchingsolutions.com/fredericksburghomebuyer.com Take a look and keep coming back. If you need more information than provided, don't hesitate to call me. To Continue Reading this Article, Click Here: New and Easy Area Home Search … (0 comments)
Have you ever heard the bar bell? The one that rings around closing time for last call, and as a reminder that it's time to pay the tab. In the U.S., the bell is oftentimes used to signify a generous tip. In the home foreclosure business, there aren't any bells to ring, but there are an abundance of great deals to be had, if only ready, willing and able buyers have the necessary tools to avoid the pitfalls. There are a number of roadblocks to purchasing a foreclosed home. They include: The Bank handling the property. As most Realtors can attest, … (0 comments)
buyers: Latest Local Housing Data
- 03/31/09 01:33 AM
The latest housing inventory numbers for the local area are: FAUQUIER COUNTY and the CITY OF FREDERICKSBURG
SPOTSYLVANIA and STAFFORD COUNTIES
Days on Market (DOM) numbers have remained fairly consistent as we head into Spring. With buying season in full swing, next month's indications should give us a better picture of what's in store for this year.
To Continue Reading this Article, Click Here: Latest Local Housing Data … (0 comments)
buyers: Homes By The Numbers
- 03/13/09 03:18 AM
Our local newspaper, the Free Lance Star (FLS), provided us with housing figures this week. First, on Wednesday, it reported the median sales price for the Fredericksburg area had fallen to the lowest level since April, 2003. February sales figures indicated the median sales price dropped to $190,000. RealtyTrac provides current tracking data for foreclosure properties nationwide. Below is a snapshot of the latest picture of Virginia foreclosures.
Yesterday, the FLS followed up with news that Spotsylvania was #1 last month. First in Virginia in the rate of foreclosures, by county. Again, the figures were drawn from RealtyTrac. As the article reported, Stafford County wasn't … (0 comments)
buyers: Shakin’ Up the Commonwealth
- 02/13/09 11:18 PM
One of the many pleasures of life in Northern Virginia is the opportunity to enjoy the well kept history of the Commonwealth. For U.S. Colonial history buffs, there are more historic sights, sounds, and treats than one could possibly enjoy in a single lifetime. Fortunately for me, my hometown of Fredericksburg offers a multitude of historic must see venues, some of which are worth stopping in more than just a couple of times a year.
Goolrick's Pharmacy is a combination of drug store and Soda Shop. While the convenience of a corner pharmacy isn't lost on its clientele, the front half of the store … (0 comments)
IF you're here to search for home in the Stafford, Fredericksburg or surrounding area, this new Search is about as good it gets. So take a look:
http://www.searchingsolutions.com/fredericksburghomebuyer.com
For months, we've been expecting the next wave of foreclosures to hit the market. With a record number of homeowners defaulting on their mortgage payments, it's bound to happen sooner or later. According to yesterday's headlines from Housing Watch, we've got a "shadow inventory" of almost 1.8 million homes that are on the brink of foreclosure. Of the 1.6 trillion in existing mortgages packaged into mortgage backed securities by Wall Street, approximately $425 billion worth are "extremely late" on their payments.;)
;)
