Northern Virginia Real Estate Update

Introduction of Home Affordable Foreclosure Alternatives (HAFA)

2009-12-02T18:32:00.005-05:00

I would love to share my thought on this new 43 page program. Wonderful the administration has a program approved to help home owners. Great for homeowners not so great for banks. The key word in the documentation is 'elective'. This program is not mandatory for the banks.

There is really no incentive in the new program for the bank. The mere offering of $1000 incentive to the bank to complete the sale won't create a blip on their screen. I truly do not see this having any impact on how we as agents are currently helping our neighbors in need; well except for the fact that we need to educate our home owners on all of this.

The program officially starts in April 2010 and requires the 'participating' bank release the deficiency. In my state of Virginia they do retain the right to collect the deficient balance. I see no reason any bank would waive this right for a $1000 incentive, unless the deficiency value was very low. Add to this anyone with a 2nd lien and forget it. The program only allows for $3000 to them on the HUD and then the $1000 incentive. And they too would have to release the deficiency. Umm, I don't think so. If you are actively negotiating short sales in my market you already know that loans generated from 2006 or newer almost all have mortgage insurance. The second lien would in fact be better off allowing the foreclosure in order to improve their bottom line.

Well wait, there are some banks for a short time that will participate. According to the program any bank using the 'Making Home Affordable Program' that is unable to approve the home owner for a loan modification then has 30 days to finalize a listing price for the sale and must follow the new HAFA program. You know what that means to me? Banks now have a great reason to stop following the Making Home Affordable Program. The weak link in all that will be the second lien holder as most often they will not be participating in a loan modification at the time, nor using the Making Home Affordable Program.

So don't panic if you are a Real Estate Agent as it most likely will have little impact for now. As a home owner I had to say it but it's just a bunch of smoke and mirrors. Sounds great but unlikely to help us much at all.

Download the 43 page Home Affordable Foreclosure Alternatives (HAFA) document here.

Prince William County First Time Home Buyers

2009-03-24T09:03:00.004-04:00

We keep saying what a great time it is to be a buyer in this market. Well there was a recent article in the Washington Post that echoes our same thoughts. I just wanted to share this article from this weekends Washington Post real estate section. If you need any help selling, buying or just have some questions, please let us know if there is anything we can do to assist you.

These Days, First-Time Home Buyers Are Primed to Cash In By Ilyce R. Glink with Samuel J. Tamkin Saturday, March 21, 2009; Page F05

In the nearly 16 years that I've been writing this column, I've never seen a better market in which to be a first-time home buyer.

The rising tide of foreclosures has pushed down home prices significantly over the past 18 months. Homes, relative to income, are about at the historic norm, which means they're more affordable than they've been in at least a decade.

Beyond that, if you buy a foreclosed property, you might wind up spending even less, as lenders struggle to process all of the foreclosures and short sales that are piling up. (If there were no more foreclosures in Florida, it would take the courts nearly two years to process all of the foreclosures on the docket today.)

Not only have homes come down in price significantly, but 30-year fixed-rate loans are at about 5 percent. Some first-time buyers are getting 15-year rates at 4.5 percent or lower. These are historically low interest rates that will seem downright cheap if rates rise above 7 percent, which they will probably do several years from now.

Spending less to finance a property means you can get more for your money or save more for retirement or other purposes. With interest rates so low and home prices falling, homeownership becomes affordable to many first-time home buyers.

Also, first-time home buyers (defined as those who have never owned a home or have not owned a home in the past three years) who close on a home purchase by Dec. 1 can get up to an $8,000 tax credit on their 2009 income tax return. If you bought a house after Jan. 1, you can file for the credit on your 2008 tax return.

This year, about 4 million people will buy a new or existing home.

For the rest of the article follow this link--
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/19/AR2009031904138.html

Great Time to purchase a cozy single family home with land in Prince William County, Manassas!

2009-03-01T18:58:00.009-05:00

Many of us have dreamt about owning a property that is located away from noise, surrounded with beautiful mature trees and has some land. Well, just couple of years ago that dream was not so easy to become true for many people but the situation has changed now. These days you can easily find homes with 1200-1800 square feet of living area with an acre or very close to it lot. Perfect residence for anyone who likes quiet country setting but doesn’t want to move out to Fauquier County or even passed it. It is still close to everything but offers privacy for country lovers.

Prince William County homes have suffered a great decline in values. And it applies to not just homes that were purchased in
2004-2005 time frame when values were going through the roof but also homes that were purchased a lot earlier and still lost a lot in value due to housing crisis and now available for sale at great affordable prices. While it is very stressful and in some cases devastating for sellers, it is a great time for buyers to look for a dream home.

The link below show Active homes in Manassas area (20112) with square footage of 1200 up to 1800 and with 1 acre or close to it lot size(please note that the link will expire 7 days after this post is made – contact us for an updated list at anytime):

http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29311860233

Would you like automated emails with properties matching your search? Maybe you would like some regular updates on homes where you live now. Sign Up Today! Or Contact Us! or sign up for automated emails that you can easily unsubscribe from at anytime.

Avoid Foreclosure Legally!

2009-02-08T16:18:00.003-05:00

Visit our New Short Sale Web Site located at www.BGIshortSALES.com. This web site is free and offers information about short sales and your options to avoid foreclosure.

The more information you have as a home owner the better you will be able to make the decisions that fit your needs best. There is so much confusion out there. Some services are promising that for a flat fee they will save your home. Others offer to negotiate a modified loan with the bank for you. All I can share with you at this point is that "if it sounds too good to be true, then it probably is". I know you might be desperate for a solution but use your head and ask as many questions as you can before handing over your money to people you don't know or trust.

Short Sales are Getting Easier! (?)

2009-02-08T16:00:00.002-05:00

Well it is true, banks are getting things together but the biggest impact of your short sale progress and turn around time starts with your Realtor. If you are having some challenges please take the time to interview your short sale listing agent thoroughly.

Over the last year especially we have changed significantly how we submit or packages to the banks. These evolutions of our short sale package delivery have had a very positive impact on how fast we get responses from the banks we are communicating with.

With all of that said we will still run into some challenges with some banks. Often if the loan is backed by investors or if the second loan in a HELOC there will be additional challenges. That is okay because while they do add challenges it does not eliminate the ability to get them approved. Getting them approved takes a bit more patience, finesse and of course knowledge.

New Fannie Mae Guidelines Encourage Short Sales

2008-10-30T08:10:00.002-04:00

Fannie Mae recently released updated underwriting guidelines for new mortgage loans that directly address individuals with various types of foreclosure history.

Potential borrowers with a foreclosure on their credit record must wait 5 years to be considered for new funding, and are subject to additional credit and down payment requirements for 5 to 7 years. Deed-in-lieu-of-foreclosures warrant a 4 year wait with additional requirements for 4 to 7 years. Finally, the silver lining...Short Sales require only a two year wait with no additional requirements. These new guidelines make short sales a more attractive option for homeowners as well as provide realtors with a tremendous opportunity to assist distressed homeowners with a short sale AND future home ownership. This information can be very valuable when meeting with short sale prospects.

Full guidelines can be downloaded directly from FannieMae by Clicking Here!

Why Would a Seller do a Short Sale?

2008-10-21T16:19:00.002-04:00

We work in a great area where other Realtors no matter their brokerage affiliation often make themselves available to other Realtors to answer questions on areas they specialize in. Our team is no different and we often speak with other Realtors in the area about short sales. Recently a Realtor I think highly of contact me and asked a wonderfully simple question. Why would an owner bother with a short sale? Why not just let it go to foreclosure?

The big three reasons are . . .

Control
Deficiency Balance
Purchasing another home

CONTROL:
A short sale gives some control back to the owner. In a time of stress, lost sleep, uncertainty, arguments over money with a significant other and everything else there is something to be said with taking control of your destiny. This is a step in that direction.

DEFICIENCY BALANCE:
During a short sale the seller and the Realtor have an opportunity to negotiate away the deficiency balance during the sale. This is not an option after a foreclosure.

PURCHASING ANOTHER HOME:
As of this article Fannie Mae has set some new guidelines stating that a Short Sale only has to cure on a sellers record for 2 years before they could by their next home. Of course supporting details like a sufficient credit score, income and the like would need to be there if any bank would approve a loan. But importantly their standard has been adjusted down to 2 years. Not too bad to work with for most people. With a foreclosure you are looking at more like 10 years.

Some would also suggest I should add credit score/hit to this list. The reality is that both a short sale and a foreclosure have almost the same hit on your credit. A short sale might be slightly less but from what I have seen not by too much to make a difference.

If you are reading this article and work for a company in the area with a large number of employees and need some articles or documentation for your employees please let us know. Recently some large employers have made efforts to understand the strain their employees are in and have found that providing qualified material and resources can relieve stress from their lives. With enough notice we are also available at no cost to visit and hold short seminars to talk about the process and loan modification options to help save their home.

Qualifying Your Short Sale Realtor

2008-10-21T15:37:00.003-04:00

It turns my stomach when I talk to sellers that sold their home as a short sale only to find out after it is a bit too late that their Realtor did not know how to protect their best interest. The biggest issue I see is when the deficiency of the loan is not released and the seller is held liable for the balance. This is not acceptable in my book.

Recently I received an email from a nice woman about their sale and having this exact problem. I'll skip the conversation about the specifics and just say that it is absolutely possible to sell your home for less than is owed and have the bank(s) forgive the balance of the loan. Of course there are requirements such as a valid hardship and supporting facts. Not every seller will get this approved but many will.

To date all of our owners have had their deficiencies removed. Why? Are we so brilliant and such keen negotiators that we are the only people capable of this? Not in the lease. We understand the process, we are patient and almost more important we understand that the bank is NOT the enemy here. Spending time gathering the information the banks need to justify such a release is very important. We all have to remember the banks are taking a horrific hit out there. Sure some may deserve it if they were using predatory practices but most are fighting to stay afloat just like you and I are trying to keep our families afloat in a difficult time.

So please take the time to truly qualify your Realtor prior to placing your home on the market. Protect yourself and ask these qualifying questions.

How long have you been doing short sales?
How many short sales have you personally represented from the seller side?
How many of those went to closing?
What percentage of the successful sales were two loans with different banks?
Have you successfully helped those sellers negotiate away their deficiency balance(s)?
Can I call or email any of your recent sellers, including those that were unable to sell?
Explain the process to me?
How long after we get an offer will it take to close?
How often do you follow up with the bank? You want them to say weekly or at lease every 2 weeks.
How often do you update the Buyer's agent? This one is HUGE! If your agent does not actively update the buyer's agent there is a very big chance they will get nervous feeling that your agent has no experience and may void the offer after waiting 2 months.
Does the Realtor and or his/her team do the actual negotiations with the bank(s) or have they hired an outside company to do this? I have mixed feelings on this one. I believe your Realtor has a much bigger stake in the sale than the outside servicers. The outside servicers are often working in volume, don't know you or your situation and cannot properly voice the urgency. Your Realtor and their team can bring up specifics of your hardship and help sway the banks in your favor. But don't automatically disqualify a Realtor if they outsource. Ask them more question about the outsourcing and their numbers and approach.

Something everyone should know; most banks say no initially. If they don't say no they often come back with terms that your buyer will not be able to work with. There is nothing to panic about and if your agent does then you are doomed. The banks are doing their job to protect your bottom line. It is up to your Realtor to do theirs and justify your contract.

A great tool we use and feel free to ask your Realtor if they have one, is a wonderful spreadsheet we present to the bank with the offer. It compares the contract offer to the cost of a foreclosure for the same home. It is extremely eye opening and when the banks see you know the numbers they stand up and listen. Now you can truly negotiate your sale and move on to a better place.

Back to the deficiency for one moment. I wanted to say that typically when the bank sends over their letter approving the short sale this is where your Realtor needs to read it carefully. If it is not clear what will happen with the deficiency they should immediately get back on the phone and request an updated letter making it clear the deficiency will be removed along with the lien. If the banks states they will not remove it then the Realtor must jump back into negotiating mode and do their best to get it cleared for you. I can tell you that half of our letters from the banks are unclear and we have to follow up. On some occasions they say they will not and that is when our experience, knowledge and patience pays off best. To date we have been able to come to an agreement each time with the banks to have it removed for our clients.

As always feel free to email or call with any questions related to short sales. Remember we are in Northern Virginia and for that reason we are unable to speak about the home sale process outside of our licensed area. But we can help you interview and locate a qualified short sale agent in your area if you need help.

USDA Rural Home Loan Development program

2008-10-06T13:02:00.006-04:00

Are you looking to Sell or Buy a home in Bristow, Gainesville, Haymarket, Catharpin, Catlett or beyond in Virginia? Well there just may be some great lender news to help with your purchase or sale. Check out the USDA Rural Home Loan Development Program

Advantages & Benefits of GRH Financing
• No down payment required: True 100% product
• No monthly mortgage insurance: Clients can afford more!
• No reserve requirements
• No minimum credit score
• No Maximum Loan Amount: Clients have NO purchase price limitations
• 30 year fixed rate
• NOT limited to first- time home buyers
• 102% of LTV (100% plus one time 2% guarantee fee)
• No limitation on source of closing costs: 100% gifted closing cost or down
payment assistance is allowed. Charity, or similar housing assistance from
community based organizations may be used. Soft second mortgages are
allowed for closing costs even if the total debt exceeds the appraised value of
the property
• No limit on seller concessions to pay for closing costs and/or repairs. Check
guidelines of your secondary market for their concession limits.
• Include closing costs/repairs in loan if appraisal is higher than sales contract

COMPLETE RURAL DEVELOPMENT INSTRUCTION 1980-D is available online:
www.rurdev.usda.gov/
Under “Regulations”, Click on “Instructions”

To determine property eligibility, click on this link http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

This article was provided to Bradley Group International from Brian Howdershell of SunTrust Mortgage. If you have questions, wish to qualify or find out the advantages if your home qualifies contract Brian Howdershell directly at 703-232-8616.

FHA to Provide Additional Mortgage Assistance to Struggling Homeowners

2008-10-01T19:00:00.002-04:00

The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they currently cannot afford. Under the program, certain borrowers facing difficulty with their mortgage will be eligible to refinance into FHA-insured mortgages they can afford. The program will be implemented on October 1, 2008.

Homeowners May Already Be Eligible For Assistance
Families should not wait to seek mortgage relief. Right now, homeowners can determine if they are already eligible for mortgage assistance through FHASecure, FHA's existing refinancing program. They can obtain information through any of the following options:

1. Contact a local, HUD-approved housing counseling agency at HUD.gov;
2. Contact the HOPE NOW Alliance at (888) 995-HOPE; or
3. Call FHA at (800) CALL-FHA.

Sustainable, Affordability Homeownership

Hope for Homeowners maintains FHA's long-standing requirement that new loans be based on a family's long-term ability to repay the mortgage. FHA only allows owner-occupants to be eligible for FHA-insured mortgages. Borrowers must also meet the following eligibility criteria:

• Their mortgage must have originated on or before January 1, 2008;
• Their mortgage debt-to-income must be at least 31 percent;
• They cannot afford their current loan;
• They did not intentionally miss mortgage payments; and
• They do not own second homes.

Features of FHA-insured loans under the new program include:

• 30-year, fixed rate mortgage;
• Maximum 90 percent loan-to-value ratio;
• No prepayment penalties;
• $550,440 maximum mortgage amount;
• Extinguishment of any subordinate liens; and
• New home appraisals from FHA-approved appraisers.

HUD, Treasury, FDIC and the Federal Reserve will form the Congressionally-mandated Board of Directors and work together to establish additional program standards.

Voluntary Lender Participation

FHA will continue to offer lenders an alternative to foreclosing on borrowers. Similar to FHASecure's recent expansion, lenders will be encouraged to write-down the outstanding mortgage principal balances to 90 percent of the new value of the property. In many cases, reductions in principle will cost lenders less than the losses associated with foreclosure.

Market Stability and Liquidity

By continuing to slow the rate of foreclosures, this program will support FHA's existing effort to stabilize local housing markets. From September 2007 to June 2008, FHA has guaranteed more than $93 billion of mortgage capital.

Funding

FHA will insure up to $300 billion in new loans. Borrowers will pay an upfront premium of 3 percent of the original mortgage amount and an annual premium of 1.5 percent of the outstanding mortgage amount. Any additional costs incurred by FHA will be reimbursed by Fannie Mae and Freddie Mac.

Program Timeline

The program will last from October 1, 2008 through September 30, 2011. Since September 2007, FHASecure has helped more than 290,000 families obtain safer, more affordable mortgages. FHASecure is on pace to help 500,000 families by the end of the year.

FREE Short Sale Support For Prince William County Virginia

2008-05-30T09:10:00.006-04:00

The market is hard and getting harder or the average Joe or Josephine to sell. Add to this home sellers that need to sell because they cannot afford their mortgage and they owe more than the home is worth. What can they do? Well besides hiring a Realtor that specializes in Short Sales you need an competent Settlement Company to help you get to close. We would like to introduce you to that resource, Advanced Title, LLC. Their head office is located in Manassas Virginia but they service Virginia, Maryland and coming soon Florida.

Heather and Lee Mergler the founders and owners of this visionary settlement company suggest and we would have to agree, that your settlement company is just as important to a smooth and successful short sale as the Realtors and sellers.

There are others out there providing support and other third party providers that will help the negotiations. One simple truth is they all charge for their services. While we can all agree that a business should be able to charge for services provided and are entitled to a fair profit there are other issues here. In the sale of a home as a short sale the banks focus intently on that bottom line. As you can imagine they want to recover as much of the debt owed to them as they can. Any additional charges that will reduce the banks bottom line start to reduce the likelihood of an approval.

The following is bullet list from Heather Mergler about their Short Sale support.

Highlight Features from Advanced Title LLC
- FREE Short Sale Support. Outside of our standard and competitive fees we charge no additional fee for the details support and follow up required for Short Sales.

- Quick Property Title Search. It is important to find out about any liens that may be on the property as early as possible so they can be cleared in time to close.

- Experience and Knowledge to help you close your sale.

- Patient and diplomatic with all parties in the transaction. Often overlooked as a value, we have found that our patience and ability to resolve issue calmly have a very positive effect on getting your home to close.

- Communication is absolutely number one on our list and a significant difference between us and other area providers.

- On site settlements available. (Close at your location or come by ours).

It is important to note that while this blog was titled for Prince William County Virginia that Advanced Title LLC services a very large area in Northern Virginia and Maryland. Call them today at 703-365-9636 and ask for Heather Mergler.

-Best of luck!

I Thought This Was a Buyer Market!?

2008-05-26T08:31:00.003-04:00

What a difference in working for our buyers the last few months have been. So we are supposed to be in a declining market, homes staying on the market for months on end but our buyers are competing for homes with other buyers. To make it worse if they truly want that home they have to offer more than it is listed for. What is going on out there?

Actually the bank owned properties (foreclosed) on the market are increasing but the banks are finally getting smart on how to get them to move. They are pricing the homes WAY below the current market value. Now I would not say this is a 'bait and switch' sales scenario or even that the Realtors are pricing it low to generate leads. Remember on these bank owned homes the bank runs the show, so the Realtor doesn't choose the list price, the bank does. The Realtor does provide details and suggestions on price but in the end the bank sets this number just like any owner would. So back on track, what they are doing now is allowing the 'Market', you the buyer, decide what the home is worth? They are pricing it low to get the traffic into the home and then allowing any interested buyers to set the value.

This is how home buying in a buyer market would normally work. So what's the catch and why are buyers paying above the asking price in a market like this? Simple supply and demand. Every buyer is looking for a great deal, a great home that needs no work and in a great location. Well the supply on great homes is a bit limited. Many of the foreclosed homes will need some work to get them up to most buyers standards.

Even the not so great home around the corner needing tens of thousands of dollars of work priced very aggressively can generate the same multiple buyer situation.

In the last month alone we have worked with several buyers that have placed offers on multiple homes only to lose every one to competing offers that were well above the asking price. It seems to take buyers about two lost offers for the reality to really set in. The market has been injected with some life by the banks pricing their homes at very competitive and often below market value prices.

When you do find that needle in a haystack make certain to really look at the past sales and know what they are selling for. If the home you are looking at is a '10', newer on the market or the price has just dropped significantly under the market value then you have a choice to make. You can bid low and hope to get it at a steal or you can choose not to ignore the trend and offer a reasonable price and terms to take that home away from the other buyers right behind you.

The additional factor that makes all of this difficult is that the banks reserve the right to consider other offers even if they have verbally or in writing accepted yours. So being the first offer in does not at all guarantee you will get the home.

There are some incredible deals out there but the Spring/Summer home market is really starting to heat up. As we speak with Relators, lenders and the industry locally they are all saying there is absolutely more activity and excitement out there.

Best of luck and if you have questions related to the local real estate market in Prince William County Virginia please contact us at any time.

First Time Home Buyers Frequently Asked Questions

2008-03-14T19:53:00.003-04:00

First Time Home Buyers Frequently Asked Questions

How do I choose a mortgage lender?
Bradley Group International can recommend several lenders who we have successfully worked with over the years. The lender will expedite all of the necessary paperwork and information, including ordering a credit report and appraisal of the property, if required.

The application normally takes about one hour. All parties who will be on the title as new owners should be present. The information you provide to the lender is confidential.

Do I need to bring anything with me when I am looking at homes?
Bring a notebook and pen for note taking. This will make it easier to remember the specifics about each home.

If you need to go back to a home for another look, just let us know, and we will happily schedule an appointment. And bring your checkbook so you can make an offer if we find a home you like.

When I start visiting homes, what should I be looking for the first time through?
The house you ultimately choose to call home will play a major role in your life. While it is true that a home can be an excellent investment, it must also fit the way you live. Your chief concern should be those things that you cannot change: location, floor plan, # of baths, lot size, etc. Then, consider those things that you can change – appliances, carpet, paint, cabinets, etc. – and whether or not you are willing to change them.

What key questions should I ask about each home?
Sellers will supply you with a Seller’s Disclosure for the home, which will disclose any defects known by the seller. Or they may provide a or Disclaimer stating that they are unaware of any defects and that you may inspect the property at your expense. But, be sure to ask any questions you have about the home, even if you feel you are being nosy. You have a right to know. Ask any questions you have. We will assist you in finding the answers to all of your questions and/or concerns.

How many homes should I look at before I buy?
We will be viewing homes that match the preferences you gave during the buyer consultation. As long as your preferences don’t change, you will only to have seen an average of 6-8 homes before finding the one you want.

Where can I get information about local schools?
Ask us any questions you have about local schools. A great online resource for investigating schools is located at Greatschools.net

How can I find out what homes are selling for in a given neighborhood?
The simplest and easiest way is to ask us. If you are interested in a particular home, we may be able to provide you with a list of comparables—sale prices of homes in the area that are roughly the same size and age as the home you are considering. This is a good way to evaluate the seller’s asking price.

How do I determine the amount of my initial offer?
Once you have examined the home’s features and looked at the comparables, you should have a good idea of what the home’s value is in the current market. Consider your financial situation, and make an offer that you consider to be fair. Your offer will include the amount you are willing to pay, financing terms, any personal property you wish to have included, loan commitment date, closing date, and other contingencies including inspections. Remember that the lower your offer is, the less likely the seller will be to accept, so avoid ‘low-balling’ if you really want the house.

Should I be present during the inspection?
It is not required, but it is very much to your advantage. You will be able to better understand the inspection report, and know exactly which areas need attention. Plus, you will have a chance to get answers to many of your questions, and receive a lot of general information that will help you when you move into your new home.

Special Short Sale Guidelines for FHA or VA Loans

2008-03-02T19:02:00.004-05:00

If you are currently in default on your mortgage and are financially strapped you may have decided to try and sell your home under a short sale. There is a lot to consider and one of them might be to first figure out if you might qualify. Special consideration are needed for home that were financed via FHA or a VA loan.

Every lender will have different criteria for accepting a short sale proposal. In many cases you won't know what their requirements are up front. In the case of FHA and VA loans we do know what some of those requirements are.

As always consult a professional specializing in short sales when proceeding but here are some of the basic guidelines related to these types of loans and a short sale.

FHA Short Sale Criteria
- Net proceeds from the sale must be equal to or greater than 82% of the property's fair market value (FMV).
- The Ratio of FMV to the total current loan amount is greater than or equal to 63%.
- The second loan (if there is one) receives no more then $1000.
- Repairs cost less than 10% of after repaired value.

VA Short Sale Criteria
- Net proceeds from the sale must be equal to or greater than 88% of the property's fair market value (FMV).

I know, after reading this you are almost as confused as you were before you found this post. Don't worry you don't need a CPA to figure out the general qualifications. If you are working with a seasoned and experienced short sale Realtor they will ask you the right questions to help qualify if you are within the guidelines.

Best of luck and try to find some comfort in knowing this - Banks do not want to have to foreclose on your home. They are in the business of lending money not owning real estate. Don't be afraid or embarrassed to talk to them about your situation. They are more willing now then before to work out ways to help you catch up, maybe even forbearance is an option(where they let you skip a payment or temporarily reduce your payments). You may have options you are not even aware of. So before you even talk with a Realtor make sure to talk to your bank. You may be pleasantly surprised.

Best of luck and if you would like to talk with us to ask some questions about the process, cost, timing, anything at all feel free to call or email us.

Northern Virginia FREE MLS Access. Does it exist?

2008-02-26T11:13:00.002-05:00

Hidden addresses, no price, limited access!!! Is there really free MLS access out there? The very simple answer for our area is YES! Some areas don't actually allow it without some cost and I think I remember a rumor a year or two ago that our area was considering making the public pay for it. That would, and please excuse me here, but that would suck! Some Realtors want to hide this information. I think that is just the stupidest thing in the world. We are adults here. There's no reason in this Internet age to hide access to this information. That is why any web site where we have control over what it shown to our visitors we choose to show all the detail we can.

For example Homesdatabase.com is our public MLS placed on the Internet by our MLS company. Now I understand them not showing the address because their 'clients' are the Realtors that pay to support all of this. But as local agents we are allowed to purchase a subscription to this site and the subscription allows us at no cost to use to show the address. I am amazed that so many agents choose to keep this hidden. In some cases non-Internet savy agents may not even know they can click a little button and turn this feature on. (Our subscription site is located at www.Homesdatabase.net, you'll see the addresses show there because we have turned them on.

As I surf the 'Net' and check out the competition and seeing what's new and cool it never fails to amaze me how many sites advertise free mls access but don't really. They offer limited results until you sign up. We will always offer the Northern Virginia MLS access without limitation (unless our market changes that rule and takes that choice from us).

If you are looking for a home in the area take you time and when you are ready contact a local Realtor to the area you are looking. Having an agent from the same area you wish to purchase can save you a lot of headaches down the road as they will know the are market and trends intimately. Good luck.

Wonderful Web Site Layout - John Mayer's Web Site (non Real Estate Related :)

2008-02-25T20:46:00.003-05:00

I thought I would take a moment to share a web site that I really enjoyed recently. Coming from a web development and search engine optimization background I just can't help myself but to review our site logs and check out different sites on the web. It's always a good idea to look outside your own industry to keep your mind fresh but especially to avoid becoming complacent.

SO . . . recently while reviewing our web logs I noticed the referring web site JohnMayer.com, from a blog page on the site. I followed the referral link but did not see how the visitor on that site came through to ours (web gremlins maybe). But I have to say the site applies some basic rules all web site owners should try to apply better and that is actually the use of more 'white space' or open area without text and links as it were. Of course many of you may have heard of John as he is a popular singer and you would except an artist to have a site that is attractive in an 'artsy' way. But I wanted to give some kudos to John and his designer for a great site that is easy to navigate and doesn't come anywhere near overwhelming the visitor. Wonderfully enough as you navigate around you find there really is a lot of information and detail but the layout pulls it all off in a wonderful manner.

Check out John Mayer's web site over at www.JohnMayer.com.

(Good work out of you John's web guy/gal (maybe it's even you John - U Rock (pun intended)).

Short Sales In Prince William County Virginia - Doing Something Good

2008-02-24T20:48:00.004-05:00

Just recently I added a post comparing the advantages of purchasing a short sale to that of purchasing a bank owned home. A few days later I was speaking with a fellow Realtor about the awful situation local homeowners are going through. Most home owners I speak with are just like you and me, they shop at the local stores, work long hours and are trying to make the best of a difficult situation. Adjusting ARMs, Divorce, loss of a job, so many issues that you and I may not even be able to guess all come into play.

Quickly in case you did not read the post I am mentioning a Short Sale is when an owner sells their home for less then what they owe on the mortgage(s) and with the banks approval the home will sell to the buyer(s) making the offer.

I would like to suggest that if you are in the market to purchase a new home think about helping those around you. Think about purchasing a home that is being sold as a Short Sale. I know it might not be as public a deed as donating for disease research, which is of course very important to all of us. You most likely will not know the owners personally but does that really matter? The stress, loss of sleep and strain on a person or family in this situation is not easy to explain if you have not been through it.

Your offering to purchase their home may in fact be the first sign of light for the owner(s) of the home you are trying to buy. Sometimes all they need is a little sign of hope at the end of the tunnel. Your choosing to purchase their home may bring enough relief of stress to help the owner(s) make it through the next few months. And you know they say that we all have to take it just one day at a time when times are hard. So your offer to purchase may get them through some of the tougher times ahead.

It is true that in the end it is the bank that will say yes or no to the offer. These purchases absolutely require some patience from your part. Is that really so much to ask in this situation? Try to imagine owning a home and being in the same position and maybe you'll see just a bit of what so many owners in our area are going through.

So if you are looking for a new home at a great price and can just have a little patience with the process, please consider purchasing a Short Sale home. Doing this can relieve a lot of financial stress for the current owner(s) and a successful sale keeps the home from going to 'Foreclosure'.

I want to thank you in advance for even considering this option for your home purchase. Helping our neighbors, friends and family is never a bad idea. We all have challenging times in our lives and helping those around us is the right thing to do.

If you are a home owner needing to sell as a short sale please contact a local Realtor that has experience with these challenging and unique sales. Of course we would always be happy to speak with you and explain the process. And if you choose to move forward we are happy to help you take care of this.

Short Sale: Townhome For Sale in Gainesville VA - Piedmont South - $294.2K

2008-02-24T19:45:00.007-05:00

Wow this large town house is located in Gainesville, Virginia in the newer subdivision of Piedmont South. With plenty of upgrades and lots of interior space you won't be disappointed with this home in Prince William County.
Enjoy the 2-sided fireplace in your Living Room and large, bright windows to bring in the morning sun. Fully finished on all levels there is plenty of space to live and grow in this wonderful home.

Room / Dimensions
Living Room / 16 x 12
Dining Room / 12 x 11
BDRM-Master / 16 x 12
BDRM-2nd / 10 x 10
BDRM-3rd / 10 x 10
Recreation Rm / 27 x 15
Other Room / 14 x 11
Breakfast Room / 13 x 11

View The Property Photos and Virtual Tour (Click Here)

Come check out this property at 6903 Stanwick Square, Gainesville, VA 20155. For a Private Showing call us at 703.330.7683 ext 3. We look forward to showing you this

My Favorite - 404 - Page Missing, Page :)

2008-02-22T14:30:00.003-05:00

For today I thought I would share something completely non-related to real estate. We've all clicked a link on a site only to find the infamous '404 - Page Missing' page. Well some sites out there do it just a bit different and often in a very entertaining way.

Check out my Favorite locate at - http://www.homestarrunner.com/systemisdown.html. You will want your volume on for this one.

Enjoy, and take a moment not to stress too much about this difficult market.

Manassas Va Home Buyers: Purchasing Short Sale vs. Bank Owned

2008-02-16T12:06:00.008-05:00

With all of the area home sales that are Short Sales and with all of the Foreclosed homes on the market buyers in Manassas Virginia and the surrounding areas have a lot to think about.

First let's start with making sure everyone understands the differences in these types of properties.

During a Short Sale the owner still owns the home and may or may not be occupying it at the time. The home value is higher then the total mortgages currently held on the property. The owner is trying to avoid foreclosure from the bank by receiving an offer to purchase. If the sale goes through the final approval is needed by the bank to accept the offer for less then the amount owed on the loan. It's a bit more involved but you get the idea.

A Bank Owned home has already been foreclosed by the bank and was not purchased at auction. So the home now reverts back to ownership by the bank. Banks want to sell these as they are not in the business of owning homes.

So which is best to buy? Which one gets you the best deal? How flexible is your time line?

If you purchase a Short Sale property you MUST be prepared for two things. The first is that it may take 30-60 days, maybe longer for the bank to approve the sale. And the second thing is that when that 30 or 60 day decision arrives they may say 'no'. If they say no you are out any expenses up until then and you have to start the home search again. Sure you will get your earnest deposit back but the cost for the home inspection, the appraisal or other inspections are gone. Now you need to start looking again. The challenge is putting an offer together that in the long run, the bank will like. The seller's will almost accept anything sometimes which is good and bad. For you it seems good but when the bank finally reviews the offer if it is out of line with a) what they owe the bank and b) what the general market value is the bank is likely to say NO.

The good thing you are doing if this does go through is you are actually helping the sellers save themselves from an otherwise disastrous situation - foreclosure. A Short Sale has less impact on the seller's credit rating and may help them to get themselves back on track that much sooner. And I have to say there is something nice in knowing that you got a great home, at a great price and where able to help someone else along the way.

Bank Owned homes are a great alternative but not always the great deal you might think so take your time. Banks, just like the original owners are looking for market value. They are trying to a) recover their losses and b) make up for some of those losses. If you are in a time crunch Bank Owned homes help you stay on track a bit better then a Short Sale. Both are often sold in AS-IS condition meaning 'buyer beware'. Make certain to have a home inspection even if they sellers are stating AS-IS. Consult with your Realtor as you should be able to make an offer with using a Home Inspection as the right to 'Void the Offer'. This would simply state that if you find things during the inspection, even if the owners will not correct them, you should have full rights to void the offer and get your earnest deposit back.

Everyone wants a great home at a steal of a price. They are out there but do your homework and you just might find just what you are looking for.

New Conforming Loan Limits - Update (Laura Triplett from SunTrust)

2008-02-13T14:16:00.002-05:00

Thanks to Laura Triplett from Suntrust for the update on what the heck is going on out in the mortgage industry for our area. Laura is a very trusted lender in the area and if you are interested in speaking with her I have included all of her contact information at the bottom of her article. -Steve

What we know today (but things could change):

The bill sets the FHA and conforming (FNMA/FHLMC) loan limits to the leseer of $729,750 or 125% of an area’s median home sales price. If 12% of an area’s median sales price is below the current conforming loan limit of $417,00, don’t worry; the $417,000 still applies. In others words, you will not be any worse off than you ar today. The area median home price is determined by HUD and is based, in part, on the National Association of Realtors Data for each MSA.

The FHA and conforming limit changes are meant to be temporary and are set to expire on December 31, 2008 (unless extended, which could happen)

The new limits will apply to 30 year and 15 year fixed rate, fully amortizing (no interest only) and owner occupied.

ARMS are being considered, but if allowed, the increase will likely apply to one ARM type (for example 5/1 ARMS)

FNMA will have other credit overlays including LTV limitations (probably 90%)

The limits will be effective as soon as the bill is signed, FNMA determines pricing, and the lenders can update their systems.

Washington DC MSA may go up to $547,500. None of the above is official yet. More to come….

CONTACT Laura Triplett:
Vice President - Branch Manager
Suntrust Mortgage
Office: 703-492-5057
Mobile: 703-919-3679
email: Laura.Triplett@SunTrust.com
Laura's Web Site

Behind on your Mortgage? Save Your Home.

2008-02-03T16:38:00.001-05:00

If you are a home owner in Northern Virginia you probably know neighbors that are behind on their home payments. Possibly you are behind currently. There is hope if you tae action.
There is some wonderful information posted at the Fannie Mae site. Follow this link to read the article about how the save your home when you are getting behind on payments.

http://www.fanniemae.com/aboutfm/borrower_resource.jhtml

If you find that your only option is a Short Sale then contact us today for details on what you need to do to get started.

FOR SALE - 3 Acres in Manassas, 5 Bedroom, 2600+/- sq ft

2008-02-02T21:34:00.000-05:00

What would you do with a gorgeous Rambler that sits privately on just about 3 acres of pure serenity? How about enjoy it everyday you can? Why not invite your friends and family over for a relaxing dinner while gathering for conversation and great food in your screened porch off of the back of the home?

As you drive down the long, private, tree lined driveway you are magically taken away from the stress of a long day. It’s marvelous to be so close to everything but feel as though you are hidden away from the busy world.

The two-car carport was smartly designed with breezeway spacing just in case you choose later to build it out into a two-car garage.

The home and property are fully fenced and offer a second fenced area for pets. Included with the sale are FOUR outdoor sheds for plenty of storage.

The most recent updates to this home include New Flooring, Kitchen (Refrigerator, Stove & Dishwasher), Bathrooms, HVAC and Roof.

This wonderful home offers 2600 +/- finished square feet and the comfort and elegance you truly deserve. This home has 2 Full Baths as well as an additional 1/2 Bath and separate laundry room for your convenience.

The large Game Room fills with natural light as you gather to play or relax after a long day.

Move in Condition - Pack Your Bags, Call your Realtor and fill out those change of address cards, this home is waiting for you.

// ROOM SIZES //
• Master Bedroom - 16 x 13
• Bedroom #2 - 13 x 10
• Bedroom #3 - 13 x 11
• Bedroom #4 - 13 x 11
• Bedroom #5/Office - 10 x 10
• Dining Area - 13 x 12
• Kitchen - 13 x 13
• Family Room - 13 x 19
• Game Room - 24 x 22

Property Address: 7201 Token Valley Road, Manassas, VA 20112
For a Private Showing Call 703-330-7683 Ext 3.

Prince William Real Estate Web Site Traffic

2007-12-10T17:49:00.000-05:00

By now it is old news to everyone out there how important the Internet can be when selling your home or trying to find a truly qualified Buyer Agent. When you are interiewing Real Estate agents to sell your home or buy a home in Prince William County Virginia make certain to ask the agents about their web site traffic and details of the leads that they generate. Often I hear Realtors talk about how their web site is doing and when put to the challenge many seem unable to gather actual quantifiable statistics from their own web site. Not knowing can kill your real estate business and become a useless tool for sellers looking for results in this Internet driven marketplace.

In the spirit of sharing :) Below is some detail on our visitors from the last two months, where they are from and what key words or phrases they used to find us on the popular search engines.

We are excited to show that we have been visited by 17 countries/territories.
United States, Australia, Bahrain, Canada, Germany, India, Iraq, Italy, Japan, Netherlands, Panama, Puerto Rico, Romania, Suriname, Ukraine, United Kingdom

We have been visited 39 of the 50 US States and D.C. too!
Arizona, California, Colorado, District of Columbia, Florida, Georgia, Illinois, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington

Bounce Rate: 32% Bounce rate is a number that tracks what percentage of visitors to the web site left as soon as they arrived. Some bounce rate is normal as a visitor looking for historic information in the area for example found a real estate web site and left when they arrived. Averages for most are in the 45-50% range, a lower number being better. Our 32% number is considered exceptional and one we watch and help us 'tweak' the site even more to lower that number even more.

Search engines being king, here are the search words and phrases used to find us in the last 2 months. This is the actual export from our web site tracking software for the dates of October 10 to December 9, 2007.
=======================================
acreages for sale fauquier county bull run mountain
amberleigh station homes for sale
analysis of commercial real estate market manassas virginia
ashland farms for sale northern virginia
auburn crossing catlett virginia
avonlea way gainesville va
baldwin oaks homes in manassas va
bannerwood manassas virginia
bear mountain dr, marshall,va
bradley group international
breyerton va
bridlewood in gainesville
bridlewood manor bristow va
bristoe station townhomes, manassas, va
bristoe station townhouses in manassas, va
bristow estates bristow, va
bristow homes va
bristow root 66 real estate
bristow va home prices
bristow va home sales
bristow va home"" listings
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bristow village townhouses for rent in bristow virginia
bristow virginia
bristow virginia horse property
broad rd in bristow va
broad run farms virginai real estate
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broad run, pwc, va
bull mountain va mls
bust head road the plains va
buy a home in manassas
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buy house gainesville, va
buy land from warrenton va
buying a house i mannasa
catharpin homes
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catlett va real estate
catlett virginia
catlett virginia real estate
catlett, va
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cattle lands community in catlett virginia
chapman / prince william county / va
cma home estimate
commercial realty manassas
condo in gainesville,va.
condo in haymarket va
condo listings manassas
condos for rent in rolling glen in manassas va
condos gainesville virginia
condos manasses,va
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creels lane acerage
creels lane acerage, the plains, va
creels lane the plains
crestwood village condo manassas va
crossman creek bristow virginia
crossman creek bristow, virginia 20136
developments in gainesville, va
dixons mill marshall va
dixons mill road""
dominique estates gainesville
dunbarton home for sale bristow
enon school, marshall, va
equestrian properties the plains virginia
equestrian subdivisions manassas virginia
evergreen terrace development, va
fairmont ii model vint hill
fairmont ii"" floor plan
fairview meadows manassas va
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for sale fauquier ave,the plains, va 20198
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foxridge manassas virginia
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glenkirk estates"" gainesville va
grace episcopal church the plains va
great meadow steeplechase plains va
greenwich rd. catlett va
haymarket va mls
heathfield, horse stables, va
help selling condo in va
heritage farms, gainesville va
history of haymarket va
home listing in the plains, va
home prices in manassas, va
home sales gainesville va
home value estimates in prince william county
home"" ""value"" ""prince william""
homes for sale + bear creek + prince william county, va
homes for sale bradley forest 20112
homes for sale enon church rd, va
homes for sale gypsum rd haymarket virginia
homes for sale in catharpin, va
homes for sale in haymarket va. shelter lakes
homes for sale in old town manassas va
homes for sale in somerset crossing gainesville va
homes for sale in the plains virginia
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homes for sale in the regency at dominion calley in haymarket, va
homes for sale morris farm gainesville va
homes for sale on sudley road in catharpin, virginia
homes for sale parkway west, manassas
homes for sale the plains virginia
homes for sale, dunbarton, bristow, va
homes for sale, gainesville, haymarket, va
homes haymarket va
homes raintree manassas
homes sold manassas va sudley manor
hopewell landing, prince williams, virginia
hopewell rd. the plains, va
horse farms for sale in warrenton, va
horse property for rent, prince william county, va
horse property for sale and national battlefield park
horse property for sale catharpin va
horse property in catharpin va.
horses in manassas virginia
houes forsale in catlett va
house for rent in broad run oaks, gainesville
house for sale in the plains virginia
house prices the piedmont, gainesville, va
houses for sale at meadows at morris farm in gainesville va 20155
houses for sale in catlet, va.
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houses for sale in yorkshire acres manassas va
houses in bristow va
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how is the house market in bristow area
how much is too much for a condo in northern viriginia
how to buy a keller williams franchise
hunt country acreage virginia
hunter square townhouse manassas
hunters ridge + manassas, va
independence manassas
independence townhouse in manassas, va
info haymarket realty group
international buyers for free
irongate community manassas virginia
irongate manassas virginia
john marshall, va
just listed haymarket
lake jackson manassas homes for sale 20112
lake jackson manassas va real estate
lake jackson real estate manassas
lake manassas va mls
lakeview condos in gainesville va
lakeview estates in gainesville va
land for sale by owner in prince william county, virginia
land for sale catlett, va
land for sale in cattlet,virginia
land for sale in prince william va
land for sale mountain road, haymarket, va
land for sale on brentsville road
land in broad run
land value crestwood manassas va
lanier farms prince william county
list of broad run estates
lofts in manassas va
long and foster bristow
looking to buy horse property in manassas battlefield
manassas condo
manassas gainesville condos
manassas home sales
manassas irongate community
manassas oakenshaw for sale sale virginia
manassas park reserve condo
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manassas, va - townhouse
manassas, va + hunters ridge properties for sale
marshall international sellers
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marshall, va, condos
mayfield trace, manassas va
meadows at morris farm gainesville, va properties
meadows at morris farm va
meetrealtors.com
mews of menlough warrenton va
middleburg virginia, burrland lane home for sale
misty ridge estates manassas va
mls listings catlett
mls listings the plains virginia
morris farms, gainsville va
mybgi
mygainesville
nathaniel chapman + va
new condos/townhouses in prince william
northern virginia relocation package
oakridge estates and manassas virginia
oakridge estates, manassas, virginia
old town manassas homes
online estimate on home worth
open houses bristow, va
paradise townhouse sale manassas virginia
parks at piedmont in gainesville,va
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partridge run estates fauquier county va
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real estate top sellers gainesville, va
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recent home sales manassas va
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reserve at moorhead warrenton virginia
rollingwood condominiums, manassas, va
rollingwood manassas va
route 28 construction in bristow
rt. 234 meadowbrook homes
rural property manassas va
saratoga srpings condos manassas va
saybrooke, bristow, va
sheffield manor bristow va
shelter lakes va for sale
shopping the plains virginia
silver leaf estates bristow virginia
single family for sale in gainesville in va
smitten farm middleburg
smitten farm, middleburg, va
smitten farm, the plains, va
somerset townhomes gainesville, va
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steve bradley
steve bradley at (571) 261-4379
steve bradley international
steve bradley keller williams
steve bradley manassas
steve bradley real estate
steve bradley realty
steven bradley real estate
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stonehill estates warrenton va
stonewall acres"" manassas va new homes
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stonington manassas va
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summerfield warrenton, virginia
summertree condo manassas va
sunnybrook estates va
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the bradley group, realtors
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the plains va land
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the villages at bristol in bristow, va
the willows 20112
thunder oaks haymarket
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town houses in manassas va
townhomes for sale in gainesville va under 200000
townhomes in bristow va
townhomes in warrenton
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townhouses for sale in haymarket, va
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varzara hills, marshall va
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villas at the ridges condo warrenton va
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virginia hunt country real estate
warrenton gainesville snow hill community va
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waterfront property for sale manassas va
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waverly mills, gainesville, va
woods of warrenton
zulla road for sale
zulla road, va + real estate

We would enjy helping you sell your home or buy your next home. If you have questions about the home selling market in Northern Virginia, specifically Prince wIlliam, Fairfax and Loudoun counties we are here to help.

Buyers - Get a Home Inspection! (Please!)

2007-10-22T15:24:00.000-04:00

I am still amazed when I hear from a seller that they purchased their home without a home inspection. Or when a buyer suggests that the home looks great and they don't have the cash for a home inspection so they don't want to have one.

Sometimes I'll even hear a buyer tell me that their Realtor told them not to do a home inspection. Even in a strong seller market, not doing a home inspection is a huge mistake. Even a new home built just for you can have serious issues. We recommend to all of our buyers, even our new home buyers, that they have an independent home inspection of the property. And if you ever hear a real estate agent suggest you bypass the home inspection or any other inspection you may want then fire them on the spot. Just my humble opinion but not inspecting such a huge purchase is idiotic and irresponsible.

Here is another point for buyers to understand. No matter how closely you look at a home it will never be as clear as it is the day you move in. Remove all of the previous owners things and walk in with time to just really poke around and you are bound to find plenty of issues, no matter how minor. The concern are all of those minor to major items that are beyond being picked up with the naked eye or just the untrained eye. Even having a home inspection won't guaranty a problem free home but you will be ahead of the game and much more prepared for your new home.

So would you rather spend $400-1500 on a thorough home inspection or thousands of dollars to do renovations and corrections that you did not know anything about before they became problems for you after you moved in?

Be smart, inspect the home BEFORE you move in.

What is IDX and Why is it Important to Selling Your Luxury Home?!

2007-10-15T18:40:00.000-04:00

Today's post covers a very little know subject of IDX agreements, Real Estate Brokers and how this affects your ability to sell your home in today's Internet driven market!

There is a super secret statement made by every broker to the MLS in our area. It's called the IDX agreement. Every broker makes a statement the the MLS about whether it is okay to share their listings with other web sites, such as Realtor.com or competitor web sites like a Keller Williams Realty Listing showing up on a Re/Max web site. Most broker say 'yes', please share our listings with all available web sites. Why? Because they know that our area is driven by the Internet and exposure is king, no matter what web site their listing appears on. That same agreement requires those competing web sites to state somewhere in the posting which real estate brokerage is providing the listing. If the real estate broker truly wants to help the listing sell then sharing is king and absolutely paramount to success in Northern Virginia.

But some real estate brokers actually say 'no', do not provide our listings to anyone at all. Why? Well here are my thoughts. They are often old-school in my personal opinion. By this I mean that they are trying to keep all calls and all leads related to their listings tightly held in their grasp. The problem for sellers is that if the Broker's web site is not generating the highest web site traffic then this is a bad thing. And it's hard to compete with Realtor.com that generates about 5.7 million unique visitors per month! There is no local web site that can compete with that. I believe it is a huge disservice to a seller not to publish their listing to every web site that will accept it. Buyers come from all across the country not just locally. Someone in California may not think to try and search a local real estate broker's web site, especially if they do not even know it exists in the first place.

As for buyers trying to find that special home, they may just end up buying their 3rd best dream home because they never knew that just down the street their true dream home sitting in the middle of fox hunt country was for sale and at a price they would have been more then willing to pay.

If you are signing with a real estate broker ask them to tell you if their broker publishes their listing to all available web sites. Then ask them to show you a copy of a company Full Listing. The MRIS system we use in Northern Virginia shows on page 3 of a full listing printout what the advertising choice for that real estate broker is. For example a broker that does not want their listings shared with other sites will show [ Advertising: IDX-DNP ] at the bottom of page 3.

In closing make certain to do your home work and hopefully the post today will share information that most owners may not understand about the complexities of real estate listings in our MLS.

ManassasCondo.com launched by Bradley Group International

2007-10-15T17:18:00.001-04:00

If you are looking for information on condominiums in Manassas Virginia make certain to check out ManassasCondo.com. Bradley Group International has just launched ManassasCondo.com as the leading resource for information, photos and condominums for sale in the area.

When interviewed, Steve Bradley the team leader for Bradley Group International stated that the team is very excited with the new addition. "The site was launched last week and already the visitors to the site and requests for information on available listings has started to roll in. We are still adding features and mapping to enhance the site so visit often."

No Photos & No Room Sizes, Are You Kidding Me?!

2007-10-01T18:11:00.000-04:00

This new post is to share my irritation as a potential buyer. I'm a Realtor but the market is down so it is a great time to look for great investment properties. What I am so frustrated about are all of these homes in the MLS with NO, or only ONE photo and no room sizes in the listings. Even worse is a listing written up to say 'This is the jewel of the neighborhood, a must see, incredible upgrades throughout the home, check out this amazing kitchen.' Then you open it up to find there is only one picture . . . . ARGHHHHH!!!!!! How about a picture of that amazing kitchen or some of those upgrades?
The current numbers state that over 80% of ALL potential buyers start their search online and I am no different. Do you understand what a significant number 80% is?! So why on this wonderful earth are agents not including more photos and details in their listings is beyond me. The cost to a Realtor in our MLS to add up to the maximum of 20 pictures is the cost of a McDonald's lunch for two. The cost to include room sizes is . . . well, there is no cost. So I ask again why in this day and age of the Internet are there not more photos and details?

I can understand that some sellers actually request no or limited photos when the home is in terrible shape and in need of a lot of work. Even then there can be other photos in many instances to help a potential buyer.

Please, if you are a seller and you are interviewing Realtors tell them, demand in fact that they include the maximum 20 photos or as many as they can. The cost to the Realtor is insignificant and the impact on the attention your home will get will grow. According to information shared with me by my Realtor.com representative listing with multiple photos are viewed 40% more then those with no photo. Again a very significant number that cannot and should not be ignored.

So stay involved in your home sale and make certain to check on your home when it is online. Make sure that if you were a buyer that it would catch your eye. Best of luck out there.

Absolutely Not! The Best Realtors Say No Thank You!

2007-10-01T09:39:00.001-04:00

A professional in any industry needs to be honest not only to their clients but to themselves and their ability to help their clients. Too often real estate consultants are so hungry to get their next check that they start to lose sight of the real goal of providing a winning solution to their clients.

In real estate when working with sellers it is important that your Realtor be honest with you from the moment you meet. The best agents are willing and more then ready to say 'No, I can't help you based on your goals'. For example, when a real estate agent takes on a new client knowing full well that the clients preferred listing price is completely out of line with the market and recent sales, that is a bad thing. It is bad for the seller and just as bad for 'potential' sellers in the area.

We all understand that the most recent closed sales are the best indicator for the market value. But even knowing that sellers and even some Realtors are still setting their numbers based on other homes active* in the market. That is a huge mistake. After interviewing with potential clients we have often told them we were very happy for the opportunity to meet with them but that based on their goals, in this case their wanting to list much higher then the market will support, that we would have to say no.

[* A side note, in this slow market we have now I prefer to reference 'Active' homes in the maket as Failed Listings. These are all homes that have not sold for a reason. The next question is why. Most often we see it is pricing too high for the market as it stands today. ]

A very popular saying among Realtors to use is the 'I'd rather be your second Realtor and help you sell your home'. Basically this eludes to the fact that many times it takes a seller a few months on the market with another Realtor to realize that they are in fact not going to sell at their initial price.

So if you are interviewing Realtors to help with your home sale don't just ask how many homes are they selling now but how many clients have they said no to. In my opinion this is a great indicator of a Realtor's true ethics in supporting their client's selling goals.

Manassas Virginia Homes For Sale - Quick Links (www.myManassas.com)

2007-09-12T08:23:00.000-04:00

Bradley Group International acquires myManassas.com domain name. Our aggressive online marketing and lead generation has taken us to the next logical step. We are actively searching out and acquiring Internet domain names that add value to our business model. Currently in this Internet savvy world more then 80% of the buyers are using the Internet as their primary search and research tool for finding their next home. The importance of a quality domain name that supports a specific location is key to generating traffic and leads for our sellers and our buyers.

Currently we are directing the myManassas.com domain name to our Manassas page on our main web site. In the coming months we will be activating a supporting site that will focus specifically on home sales (Active and Sold) in Manassas Virginia. When the new web site is live we will then re-direct the myManassas.com domain name to the new site for home sellers and potential buyers to gather live information on homes in the area.

If you are a home owner in Manassas and would like a FREE Home Evaluation on your home in Manassas Virginia please fill out the request form here and we will return your evaluation to you via email in 12 to 24 hours.

Money Merge Accounts - Pay Down Your Mortgage Faster

2007-09-01T18:25:00.000-04:00

The housing market across the United States has been dismal to say the least. As consultants in a market like this it is important for us to investigate new ideas and do our homework on them as well. Recently in Northern Virginia the buzz has set the market on fire about Money Merge Accounts. The sales pitch as it were is "Pay Down Your Mortgage in 1/2 to 1/3 the time". At first my skin crawled a bit as anyone, when it sounds to good to be true I tend to have serious doubts. The work Scam kept flashing in my mind.

Most of us know about the Bi-Weekly plan where you pay 1/2 of your mortgage every 2 weeks. What this accomplishes in one year is 2 Extra Full payments to your mortgage and can effectively save you 5 to 7 years off of your 30 year mortgage. That also requires that you have the disposable income to make those additional payments. The reality is most Americans are tight on their disposable income so even plans like this are quickly abandoned by homeowners.

Well after some exhaustive home work by myself and my team we are in love with this product. What I like best is that it does not require the homeowner to change their currently level of living or expenses.

The Money Merge Account solution provided by UFirst Financial is a software product used to manage paying down your primary mortgage using a HELOC loan. UFirst has no involvement in your finances or access to any of your information. It's a bit complicated to explain in this post. So visit our new Money Merge Account Blog and check out the information we have posted. There's a great video from News 3 in Las Vegas that talks about the product. We loved it so much that all of our team members have been certified to talk to and provide this solution to our clients.

If you are interested in talking with us about the product we are Happy to give you more information or send you out a DVD or PowerPoint presentation to explain the benefits further.

Washington DC Metro Luxury Real Estate Web Site Launched

2007-08-26T11:12:00.001-04:00

Luxury Home Sales in the Washington DC Metro area are still generating a significant amount of buyers out there searching for a great home at a great price. Bradley Group International, affiliated with Keller Williams Realty has announced the launch of their new Luxury Real Estate Web Site.

Luxury Home Buyers and Sellers alike have been searching for a local online medium that focuses specifically on their market and style of living. The new web site launched is called Select Luxury Estates and is located at http://www.selectluxuryestate.com/ (or by using http://www.selectlux.com/).

Visitors to this exclusive site are only able to search properties priced over $1 Million Dollars and the web site does not list or display properties under this benchmark pricing. When asked about the benchmark limit, team leader Steve Bradley stated, that as the market improves that limit will be moved to a $3 million or $5 million base limit.

The goal of this site and the services provided by this part of the team is to provide very exclusive services and web presence for our clients selling and for our buyers to visit regularly and save their favorites as they do their research.

For more information about Luxury Real Estate in the Washington DC Metro area, including Northern Virginia contact Steve Bradley directly by calling him at 571-261-4379 (cell-direct)

Home for Sale - 9329 Sumner Lake Blvd., Manassas Virginia

2007-07-31T10:35:00.000-04:00

This gorgeous model-like stunning single family home located in Sumner Lake subdivision, Manassas, VA. Located close to absolutely everything you can think of - Prince William Pkwy, I-66, Rte 28 & 29, minutes to shopping, dining and recreation.

This charming home has been meticulously and lovingly maintained and shows like a dream. No detail has been overlooked. From the moment you enter the foyer you are embraced by the warm and inviting atmosphere of this 4/5 bedroom, 3.5 full bath and 2 car garage home.

Subdivision: Sumner Lake

Address: 9339 Sumner LakeBlvd, Manassas, VA 20110

Private Showings Contact Jacqueline Marquez-Downie at 703-919-8976

For Sale - Gorgeous Home in Vint Hill, Warrenton Virginia.

2007-07-25T16:59:00.000-04:00

This gorgeous, model-like home is simply stunning! It is close to everything & minutes to VRE!

The Gourmet Kitchen is spectacular offering Granite Countertops, Recessed Lighting, Double-Oven, a Cooktop, upgraded Cherry Cabinets and wonderful Ceramic Tile flooring.

The 2-Story Family Room with it's gas fireplace and second level overlook are dramatic and sure to please.

[ Additional Features ]
-2 Foot Bumpout on all levels
- Ceiling Fans in all bedroo
- 9 foot ceiling height in basement
- Walk-up Access from basement
- 2 Car Garage w/Installed Cabinets

To top this all off the Master Bedroom Suite is amazing and is complimented with a Luxurious Master Bath. This home has so much to offer.

Subdivision: Vint Hill
Address: 4021 Wilkes Court, Warrenton, VA 20187
Call Today for Your Own Private Showing.703.330.7683

Read More and View the home located at 4021 Wilkes Court, Warrenton, VA 20187

10+ Acres Home at 5401 Lightning Dr, Haymarket Virginia

2007-06-23T07:08:00.000-04:00

Thunder Oak, Equestrian Property, 10.5 Acres. With 4 Bedrooms and 3.5 baths this fully finished single family home is a dream come true. Just try to find a similar home on the market with 10+ acres!

From building to maintaining - no detail has been overlooked. While building Sellers placed the house so that the front entrance greets the sunrise and the back enjoys the sunset. They also recently finished the basement and the Bonus Room connecting to the Master Bedroom, as well as built a brand new custom wood deck and enhanced the entrance appeal.

This gorgeous custom built home is surrounded by beautiful views all around. The home sits to the far side of the 10.5 acres allowing the rest of the property to be expanded allowing for a run-in shed and barn - everything a horse lover/owner would need.

Subdivision: Thunder Oak
Address: 5401 Lightning Drive, Haymarket, VA 20169
Private Showings Contact Steve Bradley 703-330-7683

Read More and View the home located at 5401 Lightning Drive, Haymarket, VA 20169

2.6 Acres Estate Fors Sale at 9800 Montyville Dr. Manassas, VA

2007-06-22T17:15:00.000-04:00

2.6+ Acres, 6500+ sq ft, 2 Master Suites! This truly unique property is located on possibly the most perfect corner lot in the area. The custom design and exquisite detail of this home makes this large home a one-of-a-kind masterpiece. Situated on over 2.6 acres and set far back from the road the stately brick entrance welcomes you to the possibilities of this wonderful home. Here you will find the ideal combination of space, community and convenience.

This perfect estate has a Grand Two-Story Foyer with a display niche and designer ceramic tile flooring and crown molding.

As you take in the entry to this spectacular home you will find immediately to your left the Formal Dining Room and to the right your Private Library. Both rooms are very generous in size and offer the Golden-Oak hardwood flooring found in the great room along with detailed crown molding. A wonderful feature in your library is you own private fireplace with Dakota Mahogany granite hearth.

This estate offers two gourmet kitchens. the first is located on the main level and has imported Mexican quarry tile countertops, quality Whirlpool appliances and a large center island with a gas cook top. The second kitchen is a Summer Kitchen located in the fully finished lower level and comes appointed with designer ceramic tiling, granite countertops, cathedral-paneled cherry cabinetry and a full compliment of stainless steel appliances.

Read More and View the home located at 9800 Montyville Drive, Manassas, VA 20111

Welcome to the Bradley Group International's Northern Virginia Real Estate Update

2007-05-29T20:18:00.001-04:00

Watch this space for the new real estate information blog for Bristow, Manassas, Gainesville, Haymarket, Warrenton, Catlett, Catharpin, The Plains, Marshall, Broad Run and Prince William County Virginia from Bradley Group International. Look to us for timely news, market updates, hot new listings and more!