Introducing the Beautiful 3014 Fox Mill Road in Oakton, VA

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There are some homes that just have it all and this is one of them. As you approach the majestic 5-acre wooded expanse, you’ll immediately feel as though you’re in a peaceful retreat – that you can call home!

The gorgeous colonial-style house highlights custom features such as an outdoor gazebo off the master suite deck, private hot tub, a premium kitchen and a very large, open foyer flanked by a gorgeous staircase. This house is brimming with attention to detail with all those high-end finishes you know, you love and you expect in an estate; details like crown molding, custom fireplaces, wall accents in the formal dining room and more.

From the moment you enter the home, you’ll feel comfortable and at ease in its large rooms and well laid-out floor plan. With oak floors throughout the home, a large great room that features vaulted ceilings, finished basement and more – this home is perfect! And like the other rooms in the house, the huge master suite is also spacious with vaulted ceilings plus a walkout deck.

The large kitchen features solid oak cabinets, granite counter tops and a conversation-flowing center island – not to mention a plethora of cabinetry and storage space.

Outside, you will feel right at home yet among the peaceful surroundings of beautiful mature trees and lush landscaping yet just minutes from highways 66 and route 50.

Sound intriguing? Wait till you see it. Call us today to schedule a tour of the home.

(703) 995-9449

How Soon After a Short Sale Can I Buy a Home?

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Contrary to popular belief, a short sale does not have the same impact as a foreclosure when it comes to your credit outlook and buying another home. It turns out that with FHA loans you can typically get into another home just two years or so after a short sale. You do have to have an approved hardship such as divorce, job relocation or death. This does not apply to anyone merely trying to take advantage of the distressed sale market.

Homeowners Should Stay Current On Payments, Despite a Short Sale

The single most important thing to keep in mind is how you treat your debts leading up to the short sale. As long as the preceding 12 months are handled with care and all payments are up to date, most loan officers and underwriters will not have a problem with lending you money again.

Distressed Homeowners Need to Put a Plan of Action Into Place to Rebuild Credit

It’s important to have a solid plan in place. But even then, many homeowners are forced to stop making payments on their home, which leads to short sale or worse, foreclosure. If that were to happen the next step is to work hard at rebuilding your credit. This is where it can take anywhere from two years or more to get back into a home. The variance comes in a couple different areas. First, if you have some money to put down on a home it will likely increase your chances of being able to borrow after a short sale or foreclosure. With a conventional loan if you have 20% of the purchase price to put down, you can reasonably expect to move in 2 years after a foreclosure. It will be 3 years if you have 10% to put down and so on.

Creditors Will Scrutinize Those Credit Scores

Another factor is your credit score. Many people are able to maintain a good credit score despite being in situations of financial hardship. This works to their advantage when they go to buy another house.

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The most critical piece to keep in mind is to maintain your payments and not be late on anything – even if you are facing short sale or foreclosure. Second, work to develop a game plan and then do whatever it takes to achieve your plan of action. For more information on this or anything else about a home in distressed situations, call your mortgage broker today.

One promising development that will also impact homeowners opting for short sale to relieve their financial hardship is that the Mortgage Forgiveness Debt Relief Act has been extended for another year. There had been much speculation as to whether or not this would happen in 2012 with the deadline the last day of the year but at the very last minute Congress decided to extend this benefit. Instrumental in helping struggling homeowners to get back on their feet, the Act provides tax relief by waiving the tax liability on discharged debt that would otherwise be considered income.

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As always, we welcome the opportunity to serve you with this – and any other real estate concerns you may have. Contact us today so we can begin making your real estate dreams become a reality! 

Understanding the Difference Between Online Resources and a Realtor When Pricing Your Home

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The Internet can be a great resource for a host of things centered on buying or selling your home but in some cases, the most you can expect to gain is a basic understanding of things.  For something as serious and important as pricing your home to either value it or sell it, relying on the Internet can only go so far.  Here we’ve outlined some key differences between the figures you will yield from online sources versus those that have been compiled by your local Realtor. 

ACCURACY IS VITAL
In today’s market especially, accurately pricing your home to sell is essential.  With it being a buyers’ market, you will have to gain a solid understanding of allfactors that contribute toward your property’s value.  There can be negative repercussions of pricing a home either too low or too high.  One such scenario is if there was a seasoned buyer who had taken the time to research in advance of searching for homes.  That buyer’s knowing what to expect in the local market seeing your overpriced home could result in a turn-off and you could lose the sale.  By the same token, you stand to get the shorter end of the stick in case of not knowing what you could have charged.  Spending a little more time and/or expense can make a huge difference in the end outcome.  

ONLINE TOOLS AND CALCULATORS
There are more than several websites where anyone can log on, put in their zip code and be given an instant “analysis” of their real estate value. The figures that appear as results from searches made through online resources stem from a conglomeration of several weeks and sometimes months of data collected from a particular region.  

Websites such as www.zillow.com,www.realtytrac.com or www.trulia.comoffer a great way to get a generic idea of the value that homes in your region are going for or have gone for recently.  As an added resource to other services also offered on these sites, the goal is not to assist homeowners in assigning a selling price on their property based on the data, rather to offer a snapshot on sales and pricing data for the area.  In fact, for many people it is the perfect tool to add an extra edge when determining the fair market value of your home, along with other factors.  

PROFESSIONAL COMPARABLE MARKET ANALYSIS
While online real estate tools are a great way to get a preliminary idea, they are only going to yield a figure that will show you where to start.  To get an accurate assessment, you will need to avail the professional services of a Realtor.  The only way to get an accurate “reading” of what the market rates are for homes in your vicinity and your neighborhood in particular, is to have a comparative market analysis conducted by a Realtor who understands your neighborhood.  There is a good chance that they have dealt with properties in the area on a first-hand basis, regularly interact with the agencies and organizations that deal with very homes in your neighborhood and are familiar with the people in various facets that you will end up needing to interact with yourself, as the seller of your home. 

Realtors conduct a detailed Comparable Market Analysis (sometimes also called Competitive Market Analysis) through a series of data compilation of area homes and properties, considering factors such as amount of land, the square footage and number of bedrooms or typical amenities in the neighborhood.  But homeowners can also opt to delve into accurate detail about their property’s value by relying on an independent appraiser.  Also, through the use of CMA data the County Tax Assessor determines the value of your property taxes. 
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When you are pricing your home to sell, it is vital that you use all available resources.  At first, it makes sense to “shop around” and get to know the generalities before you head for the specifics.  And as with most transactions dealing with your real estate world, it is always best to rely on your Realtor for quality, effective and accurate information that is relevant to you and YOUR market.