Archive for November, 2009
Last Opportunity Before FHA Refinance Program Changes
November 10th, 2009 categories: Mortgage & Finance
We previously offered a “heads-up” on the streamlining efforts of the FHA Refinance program.
Chantilly and Northern Virginia area home owners, for whom this is appropriate, should at least be aware of the changes.
Just a last reminder that next Tuesday these new procedures are in effect.
So we are down to the wire.
Currently, the guidelines for a refi are pretty minimal.
- FICO scores must be 620 or higher
- The refinance must provide a “tangible benefit”
- No mortgage lates allowed in the last 12 months
But next week things change.
Starting November 17, FHA Streamline Refinance applicants must show evidence of income and employment, plus proof of cash required to close. Additionally,, the FHA is limited loan-to-values to 97.75% for homeowners that want to “roll closing costs” into their mortgage.
This could be a problem in areas where there are declining home values.
There are other changes and you can check them out up for yourself. To make it easier, you can also just work with your mortgage professional and get their input and guidance.
If you are currently financed through the FHA, even thought you don’t have much time under the old guidelines, you might want to hustle and consider the possibility of an FHA Streamline Refi.
Next week it will be a very different situation.
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Relocating? What You Must Know Before Hiring A Moving Service! (Part 2)
November 9th, 2009 categories: Buyer Strategies, PODCASTS, Seller Strategies
EPISODE 25 – REAL ESTATE IN CHANTILLY
If you are relocating to the Northern Virginia area, or making a local move, you may be looking for a moving company.
In this series on how to hire a good moving company we discuss what informed home sellers and buyers should know before they start looking for a moving service.
Choices have consequences, for better or worse. Consumers not doing “due diligence” in making this decision are taking a risk with their possessions and their money.
In this second episode of the series, we discuss how you can go about getting the information you need to locate and hire a good moving service. If you don’t already have a good company, where do you start? What about insurance and bonding? How much coverage should you get? Should you get full replacement cost? What is the single most important thing you should know before signing the contract?
Chantilly and Northern Virginia area home owners who see a move upcoming, as well as anyone moving into the Northern Virginia area, will benefit from the honest and straightforward insights of someone who is working inside the moving industry.
Don’t miss the entire series!
Download this episode (right click and save)
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Stay Safe: Test Your Home Smoke Detector
November 5th, 2009 categories: Home Life
You certainly want your Chantilly home to be safe.
And keeping those Smoke Detectors operating normally is one big – and easy – way to help in that objective.
It might surprise you to know that according to the United States Fire Administration, there were an estimated 1.5 million domestic fires last year, causing over 3,400 deaths.
In many of these tragic cases, there were no smoke detectors or dectectors that were not working. The typical reason: missing or dead batteries.
An easy way to stay safe in this regard is a simple annual check. Here are a few guidelines on how to:
- Have someone positioned as far away in the house from the detector as possible.
- Push and hold the testing button for 5 seconds until the alarm sounds.
- Confirm that it can be heard by the “positioned” person.
To go one step further, buy smoke detector aerosol and spray it directly into the device. This simulates a fire. If the alarm does not sound, replace the detector.
Smoke detectors are life savers, and they are not expensive. Do make sure to check them at least once a year.
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Video on Finding Good Home Buying Deals
November 4th, 2009 categories: Buyer Strategies
Really getting a good deal on the Chantilly area home you are going to buy involves many factors, and each situation is different.
So I find that a simple formula usually does not work.
That said. I thought I’d share this 3-minute video, from NBC’s The Today Show which speaks to the question of whether this is a good time to buy.
Their conclusion is “Yes.” but don’t overpay. Pretty common sense stuff, but how often is common sense missing in life? Recent history answers that question!
There are some negative comments about short sales. They can have lots of problems, but I would not rule them out across the board.
Check it out and see what you think.
And if you are in the Northern Virginia area, or moving here from elsewhere, and want more information on properties that are in the “bargin” category, just let me know and we’ll get you whatever data you need.
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DIY : Video – Fixing a Loose Towel Rack
November 3rd, 2009 categories: Home Life
In the current money-saving environment, we like to pass on helpful hints to Chantilly and Northern Virginia area homeowners who need to do the occasional minor home repair.
Towel racks, for example, tend to loosen up over time and can be an annoyance. But you can do this repair fairly easily on your own.
Check out this 2-minute video from ExpertVillage.com, in which a professional contractor shows you how to get this done.
If you do live in the Chantilly or surrounding area, I do have a list of contractors providing various services that I give to my clients when they have the need, so let me know if you need home related professional services. But this is one repair that you can likely do on your own.
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Relocating to Northern Virginia? What You Must Know Before Hiring A Moving Service! (Part 1)
November 2nd, 2009 categories: Buyer Strategies, PODCASTS, Seller Strategies
EPISODE 24 – REAL ESTATE IN CHANTILLY
If you are relocating to the Northern Virginia area, or if you are a Chantilly area homeowner who has a local move coming up, you may be looking for a moving company.
In this series on how to hire a good moving company we discuss what informed home sellers and buyers should know before they start looking for a moving service.
Consumers not doing “due diligence” in making this decision are taking a risk with their possessions and their money. But with a little homework you can discover who you feel comfortable with and who you definitely do not want to work with.
In this first episode of the series we discuss characteristics of a very good moving service, as well as the cautions and misconceptions to avoid if you decide to do the move on your own.
Chantilly and Northern Virginia area home owners who see a move upcoming, as well as anyone moving into the Northern Virginia area, will benefit from the honest and straightforward insights of someone who is working inside the moving industry.
Don’t miss the entire series!
Download this episode (right click and save)
| Discussion: No Comments »
