buying: Getting The Best Appraisal For Your Home - 05/25/12 11:27 AM
Because most people purchase homes with a loan or otherwise subject to an appraisal, getting an favorable appraisal is key to most home sales. You likely will also need to get an appraisal for refinancing.
The purposes of a home appraisal is to estimate market value, to make sure the bank is investing (via a loan) in a property that is worth their investment.
Recently there has been a change in the home appraisal process, resulting in more regulation. To comply with these regulations, among other things, most lenders use a lottery system to chose the appraiser for each loan.
When … (1 comments)

buying: Do You NEED A Survey When Buying A Home? - 05/18/12 02:15 AM
Do you need a survey when you buy a property? Here are some insights from Keith Barrett, attorney and owner of Vesta Settlements in Leesburg, Virginia.
Stay tuned to The Real Estate Whisperer for more real estate insights...straight from the front lines.

buying: REOs in 2010 - 09/13/10 01:43 PM
In the Dulles/Loudoun areas, REOs remain part of our marketplace, although the number has dimished severely since 2008 when I last posted a series on REOS.  As the market has changed; industry practices have evolved, and things are easier.  For that reason, I am updating and reposting information on REOs. WHAT IS AN REO? REO means Real Estate Owned; the phrase is used interchangeably with "foreclosure" or "bank owned".  All of those terms mean it is a property that is owned by a financial institute generally after it has been foreclosed upon. Now that you know what we're talking about, let's take a glimpse back into 2008.  If … (0 comments)

buying: Not A Headline I Would Write, BUT.... - 12/11/09 01:32 PM
"If You Don't Buy A House Now You're Stupid, Or Broke" is the headline from a story found in Business Week, written by Marc Roth.As MY headline explains, it's not a headline I'd write... (yet) BUT... Listen Up:In the early 90s I bought a house for $150K,  my mortgage payment was $1250  month.The week of Thanksgiving (2009) I sold a house for $300K, and the buyers mortgage payment is $1265 a month.Both include the cost of escrows (your taxes and insurance).  The main difference is interest rates.  A 30 year fixed mortgage when I bought was 8.5% (with 2 points).  The … (1 comments)

buying: A Short Sale, ANYTHING BUT Short - 07/29/09 02:43 PM
The first time I heard a buyer say they thought a short sale was someone who needed to sell quickly (in other words, they thought the sale would happen in a short period of time), I giggled a little. When I thought about it, I could totally understand the thought pattern. The reality is nearly the opposite....a short sale can be anything but short!
The term actually refers to the current owners needing to sell and being "short" the funds it will take to pay off the lender. So, the current owners need to negotiate with their lender an alternate repayment … (2 comments)

buying: Types of Sales in Today's Market - 11/29/08 12:45 PM
This post is intended to assist you with familiarizing yourself as a buyer with the types of sales we are seeing in the marketplace today.  Read separate posts on Short Sales * REOs * Auctions for more detail.
Traditional Sales
If the prices are right, these are the best transactions!  The contract is more "normal" in nature, allowing reasonable negotiations between the parties.  Each party genuinely hopes for the sale to be completed and therefore works together to meet deadlines and ensure everything is resolved to the mutual satisfaction of all parties.  These contracts are generally more predictable. 
Generally, private … (1 comments)

buying: Lender vs. Mortgage Broker - the DIFFERENCE - 11/19/08 01:01 PM
Attention: Buyers and Borrowers There IS A DIFFERENCE!A lender is a specific lending institution, often times a bank, that lends their OWN money. When they pre-qualify you they are using the actual, real time standards that institution has in place. A pre-qualification means something. An approval means something. It means the person that has the money has agreed to give it to you.A mortgage BROKER does not have any money to lend. A pre-qualification means that they THINK they can get a loan for you SOMEWHERE. The approval from the actual lender will generally come at the very last moment, and … (1 comments)

buying: Short Sales are SELLING! - 11/05/08 03:54 PM
Some homeowners being forced to sell today are faced with a challenge because their value may be lower than the mortgage they owe.  In these cases, agents, attorneys and other professionals are stepping in to assist homeowners in negotiating with their banks to permit the sale.  For months, banks failed to realize the advantage to working with these homeowners and their agents.  But, finally, the tides are slowly turning and short sales are being approved!  This is reducing the number of home loans in default and offering options to foreclosures. 
In cases where there has been a hardship (forced relocation, death … (0 comments)

buying: Attn Wanna Be Investors - 07/27/08 08:11 AM
So, you've been thinking of investing in Real Estate for some time.  You know this is a great time to buy... if you only had the cash to spare. 
So, what are you doing with all that cash in your 401K or IRA? Did you know that you can put some or all of that into a self directed IRA and use it to invest in real estate?  By partnering with others, by making a 30% investment from your IRA and getting a loan for the rest, or for purchasing a property outright.
Throughout the country, there are great real estate … (0 comments)

buying: Tid Bits of Real Estate News - 07/25/08 01:10 PM
In our ever - evolving real estate market, life continues to stay interesting!  Here are a few highlights of things you may not know:
There has been another market shift.  In many sections of the Northern Virginia area, it seems prices have leveled, and buyer activity is up by as much as 80% in some areas over last years numbers! 
The smart investors are back out!  But, financing is tough for investors these days.  However, there are ways to invest in real estate by using a self directed IRA, and your IRA will have an easier time getting a loan than … (0 comments)

buying: The Great House Hunt (Part 3 of Series on Buying an REO) - 07/03/08 12:36 AM
So, you're ready to go see some properties. With the REOs flooding the market, the term House Hunt is starting to have a new meaning. Looking at some REOs can be an adventure - think "Wild African Safari".Here are a few tips on what to expect when you get out there... none of this is fiction, it is based on actual experiences; ...READ MORE ...  

Vicky Chrisner (Fieldstone Real Estate) Rainmaker large

Vicky Chrisner

Leesburg, VA

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Fieldstone Real Estate

Address: Loudoun County, VA

Office: (703) 669-3142

Mobile: (703) 728-5766

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A simple little blog to share what I learn with fellow Active Rainers and real estate consumers.




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