Get snOver It |
Protecting Your Wood Floors During The Snowpacalypse of 2010

During winter, using ice melt compound is necessary for keeping walkways and roads clear of snow and ice.  No matter how hard you try, some of that compound that’s on the bottom of your shoes is going to make it inside.  The residue is unsightly on hard surface floors. 

On carpets, you may not see it, but the damage can be even worse.  The most commonly used compound is calcium chloride in small white pellet form.  It has two characteristics that are very relevant – it’s alkaline and it loves water.  Calcium chloride pulls moisture from the air and leaves a moist, oily film on carpets and hard surface floors.  It can also cause the slip resistance of hard surface floors to be compromised.

• Use doormats or runners at all entrance and exit areas to capture as much of the residue as possible.
• Vacuum the mats often and clean using the wet extraction method.
• Keep one or two replacement sets of mats for the winter season.
• Clean carpets by vacuuming at least three times a day.
• Clean carpets by wet extraction after each snowstorm or after each use of ice melt compound.
• To clean the oily residue from hard surface floors, use water or floor cleaner. DO NOT wet mop, as the mop itself can become contaminated with significant amounts of residue and spread to the rest of your floors.

Selling Old Town Alexandria VA Real Estate? |
List Your Home With McEnearney Associates Because Results Matter

Results DO Matter when it comes time to sell your home.

In the second half of 2009, McEnearney Associates sold the properties we marketed in less time and for a higher percentage of the original listed price. (By the way, we started tracking this performance in Northern Virginia in 1999, and we have sold our listings in less time and closer to list price in twenty-one of the last twenty-two semi-annual periods.  Since we opened our first office in Washington in 2007, we have added DC, Montgomery and Prince Georges Counties to our evaluation.)

Market conditions have varied widely in the eleven years we have been tracking these numbers, from balanced markets, to sellers’ markets to the current buyers’ market. And we have adapted to these changing conditions, outperforming the market regardless of what the market conditions are. My company’s carefully assembled team of the most productive Sales Associates in the Washington area makes all the difference for you.

Highest Average Net Sales Price*

Generally speaking, more expensive properties take longer to sell and typically sell at a deeper discount to the original list price. That makes it even more remarkable that our listings sold, on average, more rapidly and closer to the original list price than the listings of these other fine real estate companies.

    

Mason Neck Homes In Hallowing Point River Estates |
Wildlife And Waterfront Tranquility

Just ten minutes from Fort Belvoir is the tucked away waterfront community of Hallowing Point River Estates in Mason Neck. Homes in Hallowing Point River Estates are custom built on perched or level lots with Potomac River views or snuggly surrounded by mature trees. On any given day, neighbors can see deer, owls, eagles, and lots of other wildlife roaming around comfortably.

Homeowners of Hallowing Point River Estates enjoy the private amenities of a serene waterfront beach park with pavilion, picnic tables and grilling areas, available for private parties and community gatherings, a gated area with boat launch and dock directly off the channel for deepwater boating, all off the beaten path of I-95.

See also: Hallowing Point Home For Sale at 6025 Chapman Road

Alexandria VA Short Sale Listing Agent Earns The Gold |
Experience Counts When Helping Homeowners Avoid Foreclosure

A couple of years ago, many people had never hear of a short sale. Now, short sales are right in the mix of all homes for sale regardless of price point and zip code.

There are still many brokers who don’t even show short sales when working with buyers, but homeowners in Alexandria VA who are facing a financial hardship have a resource they can count on when it comes to understanding the alternatives to foreclosure.

After helping homeowners in 2009 with successfully closed short sales, I was awarded the Certificate of Designation as a Gold Member of the Certified Default Resolution Specialist network of agents who have been trained by the America’s Home Rescue team of instructors and Realtors.  I had the pleasure of meeting Michael and Stacy Spickes (co-founders of America’s Home Rescue) back in May of 2008 when I was Chair of the Education Advisory Committee at NVAR and officially invited them to teach agents how to help homeowners and how to work short sales.

This past year, I represented these sellers and helped them understand their options in avoiding foreclosure:

• 4852 Eisenhower Avenue Unit 341 in Alexandria VA at The Exchange at Van Dorn
• 4854 Eisenhower Avenue Unit 248 in Alexandria VA at The Exchange at Van Dorn
• 2451 Midtown Avenue Unit 1515 in Alexandria VA at Midtown Alexandria
• 7362 Ardglass Drive in Lorton VA in Worthington Woods
• 1030 Gardenview Loop Unit 401 in Summerhouse Condos
• 17760 Avenel Lane in Dumfries VA in Southbridge (homeowner had NO MISSED PAYMENTS)
• 5419 Moultrie Road in Springfield VA in Ravensworth (listed by Susan Bruce Anthony, short sale negotiated by me)

I was also able to consult with three other homeowners and help them with either a successful loan modification, or evaluate their current situation and offer recommendations on keeping their home(s). 

When it comes to foreclosure prevention, experience counts and RESULTS MATTER.   If you need the help of  a knowledgeable and experienced short sale agent and are facing a financial hardship, please give me a call at 703-623-8759, or visit my website for a confidential consultation.

Virginia First-Time Buyers Face Increased Costs With FHA In April |
In Other Words…Time Is Money

You’ve heard the saying ‘Time is Money’, well when it comes to buying a home today, the saying still holds true.
Effective April 5, 2010, buyers who are using an FHA loan to purchase a home will face an increase in the upfront mortgage insurance premium, from the current 1.75% of the loan amount to 2.25%.  What does this mean in terms of dollars for the average homebuyer?

• For the average first-time homebuyer looking at a purchase price of $250,000, after April 4, 2010 instead of being charged $4221.88, the cost of the FHA mortgage insurance premium will increase to $5428.13.
• For the average move-up homebuyer looking at a purchase price of $500,000, after April 4, 2010 instead of being charged $8443.75, the cost of the FHA mortgage insurance premium will increase to $10,856.25.

Buyers obtaining FHA financing will see this increased cost either up front by having to pay the total cost at closing, or finance this into the loan which means an increased total monthly payment.

Please click here for the information that was release by HUD. *No Down Payment loans are still available for qualified VHDA buyers. Please email me for more info.*  In other words, if you’re actively in the market to buy a home now, you can avoid this increased cost by identifying a home and being ‘Under Contract’ before April 1. 

Please note that short sales may not be the best type of properties if you are trying to beat this deadline, as your lender may not start processing your loan until after the seller’s lender has approved the short sale of the property.  So, if you’re under contract with a short sale on March 1, but you don’t receive short sale approval from the seller’s lender until April 5, you would still be subject to the higher rates for the FHA mortgage insurance premium.

See Also: Video – Biggest Buyer Blunder, The Importance of Mortgage Approval

Woodbridge VA Area Short Sale | 4220 Ashmere Circle Dumfries VA |
Wells Fargo Short Sale

4220 Ashmere Circle Dumfries, VA 22026

Just Listed at 4220 Ashmere Circle, this home is a Wells Fargo short sale.  Features include:

* – Three bedrooms

* – Two full baths

* – One half bath

* – Three finished levels

* – Fenced back yard

This home is also move-in ready with hardwood floors in the living room, a rear-facing eat-in kitchen.  The lower level is finished with the third bedroom, and a rec room with a gas fireplace.

This home is a Woodbridge VA area short sale and requires third party approval. 

Virginia First-Time Buyer Programs | Does Your Buyer Agent Know About Them?
Turning A ‘No’ Into A ‘YES’

It happened once again!  I was able to help a first-time homebuyer become more knowledgeable about the opportunities that are avaialable with the Virginia First-Time Buyer Programs that are offered.

I received an inquiry from a buyer who was interested in my Arlington VA condo for sale at 4600 Four Mile Run Drive – Unit 505 in The Carlton.  Just a day too late, as my listing had already gone under contract, proceeded to qualify the buyer by asking the most important question when buying a home, “Have you been pre-approved by a local mortgage company?”

There was a short pause, then she responded that she had spoken to one of the big banks, and was told that she couldn’t qualify for a home.  Being a first-time home buyer, she was interested in taking advantage of the $8000 tax credit.  I informed her about the Virginia First-Time Buyer Programs that are offered through the VHDA, and introduced her to my lender partner, Patrick Cunningham of Home Savings and Trust Mortgage (GO DUKES!), who specializes in VHDA loans.  Patrick was able to offer her a mortgage pre-approval with one of the VHDA mortgage loans and now she’s actively looking for a new place to call home!

If you’re a Virginia First-Time Homebuyer and would like to know about the different programs that are available, consider working with an Alexandria VA buyer agent who is familiar with the loans that may be avaialable to you.

See Also: Video – Biggest Buyer Blunder, The Importance of Mortgage Approval

* – VHDA Homebuyer Tax Credit Plus Program (Extended) – use your $8000 tax credit at closing!

* – Other VHDA loans for Virginia First-Time Homebuyers (including zero down loans)

Del Ray Alexandria VA (22301 and 22305) Market Stats And Real Estate Update For December 2009 |
Lots Of Detached Home Inventory

What’s the real estate market like in Del Ray right now?  According to the numbers, the townhome sales are pretty stable, but if I’m a condo howmowner or a detached homeowner, I’m probably biting my nails.  With the extended homebuyer tax credit, you’d probably expect more activity with the Del Ray condos for sale, but based on MRIS data, no condos have gone under contract in the past 30 days (contract date of 12/09/2009 or later).

And with 10 townhomes going under contract, it makes you wonder where the Del Ray townhome sellers are going?  Are they relocating out of the area (Northern Virginia), or just out of the zip code?  Ten townhomes went under contract, all priced below $600,000, but if you look at the detached activity, it’s reasonable to guess that these homeowners didn’t buy up and stay in Del Ray.  Sixteen detached homes for sale in Del Ray and they’re all either under $900,000 or over $1Million in asking price.

If the townhome sellers are moving up and staying in the area, perhaps they are moving out to the Greater Mount Vernon area, in the Fairfax County Alexandria zipcodes of 22306, 22307, 22308, and 22309 for a detached home with more of a suburban lifestyle.

Midtown At Alexandria Station Condos |
Alexandria VA CDPE Listing Agent Helps Another Homeowner Avoid Foreclosure With A Short Sale

Midtown Alexandria Station Condos Across From Huntington Metro

 Just Sold – 2451 Midtown Avenue, Unit 1515

Still having that ‘new home smell’, the contemporary condos for sale at Midtown at Alexandria Station appeal to a lot of Alexandria VA buyers who are looking at condos close to metro.  Shortly after purchasing a unit here, this homeowner experienced a financial hardship. 

With an FHA loan, the homeowner applied with Wells Fargo Home Mortgage and was accepted into FHA’s Preforeclosure Sales Program and also received a monetary incentive.  The time period for the short sale approval was 35 days.

This home had also been previously listed with another broker and did not sell.  If you are facing a financial hardship and would like to see if you qualify to sell your Alexandria VA home as a short sale, please be sure to visit my website for a confidential analysis.  Experience counts, and as a Certified Distressed Property Expert (CDPE) and a Certified Default Resolution Specialist, I have the training and sale experience to help.  Short sales are not like traditional sales, so be sure to consult with an Alexandria VA listing agent who is qualified to help.

If you currently have an FHA mortgage and are experiencing a financial hardship, you must meet the following criteria to be eligible to participate in the Preforeclosure Sales Program:

• The property must be owner-occupied, no “walk-a ways” or investment properties. Exceptions: when it is verifiable that the need to vacate was related to the cause of default (job loss, transfer, divorce, death), and the subject property was not purchased as rental investment, or used as a rental for more than 18 months.

• The Mortgagor must be 31 days or more delinquent at the time of the Preforeclosure Sale closing.

• The Mortgagor must provide documentation substantiating a reduction in income or an increase in living expense, and documentation that verifies the Mortgagors need to vacate the property (if applicable).

Old Town (Alexandria) 22314 Real Estate Market Stats For December 2009 |
Upper Bracket Homes Need Buyers & Detached Homes Slow Moving

Old Town Alexandria Market Snapshot As Of 1/7/10

What’s moving and shaking in the real estate market in Old Town Alexandria?  Well, from the looks of things, it’s condos and townhomes priced under $600,000.  In the Old Town Alexandria condo market, 14 out of the 17 condos that went under contract were under $600,000.  For the townhomes, 5 out of the 8 homes that went under contract were under $600,000.  But what does this mean for detached homes for sale in Old Town, and the luxuy homes priced over $700,000?  If I’m buying luxury, then I’ll want to see them all…in every price range and render a decision on what makes each home unique.  Is it the age, the proximity to the Potomac River, is it the quadrant?

What about short sales and foreclosures in Old Town Alexandria?  They’re out there, but in very small numbers.  As of January 7, 2010, there were 4 bank owned foreclosures for sale, and 2 short sales actively for sale.  In the past 30 days, one Old Town Alexandria short sale has gone under contract.

Old Town Alexandria home owners looking to list their home for under $600,000 should still venture out and take a look at the competition.  While there is a greater chance that you’ll get your home sold in this price point, when there’s more to choose from, buyers will be very selective and will tend to make ‘value-based’ decisions vs. ‘demand-based’ decisions.  That means, you will have to stand out in terms of presentation (staging), move-in readiness, and price to entice a buyer to choose your home over the 53 other condos, or 26 other townhomes currently for sale.