short sales: 10 Things Sellers Should Know About Short Sales (2012) - 08/15/12 09:20 AM
Here are 10 things everyone who is “under water” on their home should know:
1. If you owe more on your home than it’s worth, you can still sell in most cases, even if you do not have the money to pay the balance of the loan. This is called a short sale. 2. If you do a short sale, in most cases lenders are processing these fairly quickly – from listing to close can be as little as 60 days, 90-120 days is more common. 3. Most lenders will stop the foreclosure process if you are working on a short … (0 comments)

short sales: Could a Govt Shut Down Impact YOUR Sale or Purchase? YES. - 04/08/11 09:47 AM
The answer, sadly, is yes. According to THIS DOCUMENT summarizing the expected consequences to the real estate and loan industry of a government shut down, the following programs could be impacted as explained: FHA (Federal Housing Administration): No new loan commitments will be issued nor will FHA closings be authorized during the shut down.  I am particularly interested in this since so many FHA buyers are working hard to get homes under contract so that new loan commitments can be issued before the FHA mortgage insurance cost increases (set to increase 4/18).   My guess is that if you don't  have your loan commitment issued … (0 comments)

short sales: FHA Short Refi Program - Can it help you? Can it help anyone? - 03/17/11 05:05 AM
Five of the largest US lenders are signed up to participate in the FHA Short Refi program... but don't count on it helping you. While 50 MILLION dollars have been allocated to the program, a whopping 44 (yes, forty four) people have been helped. (Source: Housing Wire - see article here.  This falls under the category of "Things that make you go Hmmm...."  Sort of. Why aren't they actively participating?  And, for that matter, why don't banks just adjust the loans that are in place rather than doing a short sale?   By and large, banks need cash, so if they are going to write down … (0 comments)

short sales: Sales Analysis for Stratford Club (Condos in Leesburg, VA) - 01/16/11 12:24 PM
Thinking of selling your condo in Stratford Club in Leesburg, VA?  Here's a little info you may find helpful. First, a little background.  Stratford Club was a rental apartment community.  Toll Brothers purchased the community at the height of the market to do condo conversions.  They struggled like everyone else, and have rented many of the condos to keep some cash flow, prolonging the sales phase.  So, if you're planning to sell today you are still competing with the Toll Brothers sales office. What's interesting is that converted condos have probably been lived in as rentals post conversion, and if not, they were … (0 comments)

short sales: This Weeks Real Estate Headlines, From the Real Estate Whisperer - 06/26/10 07:32 AM
"As goes the real estate market, so goes the economy" - this is what economists say, and recent years have truly supported that sentiment.... in fact, if the real estate market in America collapses, so does the whole US economy...and then the global economy.  So, no matter whether you're a property owner, buyer, seller, renter, investor, if you have stocks, a 401K or IRA or simply have a job-or want one... it makes sense for you to stay in tune with the major headlines impacting our real estate market.  Here's a quick glimpse of this week's headlines:
The Washington Post reported … (0 comments)

short sales: The Real Estate Whisperer: You'll Want To Know THIS! - 03/08/10 12:19 PM
The Real Estate Whisperer "You'll Want To Know This" Announcing "The Real Estate Whisperer" on Facebook!   Interested in having important Real Estate News delivered to your FB Newsfeed?  CLICK HERE to "Fan" our new page!  We welcome any real estate questions! Check out these recent highlights.... *  Buyers Who Wait, May Lose A Lot (Read this article from REALTOR magazine) *  Switching gears, Obama is no longer focused on keeping homeowners IN their homes, but considering paying them to leave! *  Tax relief for investors who chose the wrong 1031 company.\ *  The White House extends the refi program options for … (0 comments)

short sales: The Long and Short of a Short Sale, Part 5: Failures and Successes - 09/29/09 03:37 AM
Part 5: The Long and Short of a Short Sale: Failures and Successes This is Part 5 of a Series on Short Sales reprinted with permission from TheRealEstateWhisperer.  In this post, we discuss examples of failures and successes I've witnessed or been part of in the short sale arena.Disclosure/Disclaimer:  In this post I often talk of the listing agent or buyers agent and their practices, as if the agents were the sole deciding factor in taking these actions.  In reality, the agents should be acting only as agents, at the direction of their clients.  However, in short sales, because most consumers have … (0 comments)

short sales: The Risks of A Short Sale - 05/28/09 02:46 PM
For a seller, a short sale is a success! It means you were able to sell your home and amicably negotiate a resolution with your lender, which may have included full or partial debt forgiveness, and other benefits. The largest risk for a seller is being taken advantage of in a mortgage assistance scam. However, it is very possible to attempt a short sale and completely avoid that risk. For those sellers, the only risk is that the sale won't go through, and the property will be lost to foreclosure. That is a big risk, but for most sellers, BEFORE they … (0 comments)

short sales: Are You Easy Prey? - 04/07/09 05:03 PM
As a real estate professional, I get calls from people that are struggling to pay their mortgage, or concerned because they have to sell, and they owe more than their homes are worth.Many in my profession have been recommending services from "professional negotiators". These are companies that brag about large success rates and large volumes of completed transactions - either in loan modifications or short sales, or both. But, these "professional negotiators" cost money - anywhere from a few hundred dollars to several thousand. Most of their fee is not contingency based, and it's often required to be paid up front.Many … (2 comments)

short sales: 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)

short sales: Professionals, Your Input Needed - 07/30/08 03:33 AM
Lenders and Agents, you are on the front lines, so I NEED your input here.  Tell me of situations that you see that result in foreclosure.  Don't get into blame... I want to know what the situations of the homeowners are, why it is their only choice.  I don't (for purposes of this question) want to know who caused the situation, just what the situation is, and how we could/should be keeping it from getting worse.  Things that are of interest to me....
1. Was there a hardship that caused the home to become unaffordable, and if so, what?
2. Was there … (5 comments)

short sales: 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)

short sales: 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 ...  

short sales: What A Seller Should Know About Short Sales - 06/27/08 02:09 AM
We live in a rapidly changing environment, and what was good advice just a few weeks ago is not true today. So, check with MANY professionals before you make the decision to attempt a short sale.  Here is the best, most current information I have available to pass on to you, and if there is anything I've forgotten, I encourage feedback!Things that increase your chance of having a short sale approved:-You have one lender, not multiple lenders.-If you have more than one lender, other lenders will be getting some of the proceeds of the sale. (With a foreclosure they usually get … (1 comments)

Vicky Chrisner (Fieldstone Real Estate)

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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