Loudoun County VA real estate: homes for sale in northern virginia

Showing posts with label homes for sale in northern virginia. Show all posts

Friday, March 29, 2013

Helena Talbot's blog - Can You Afford A New Home

Buying a new home can be the most exciting thing you've ever done and it can also be the scariest! You need to think things through and look at the big picture. Write things down, weight out everything so that you don't become just another statistic. Here are some tips to deciding if you can afford to buy a new home.

1. How much can you afford? You should talk to a lender to help you with this question. They will talk to you about your income and your debts and together you can decide how much you can afford and how much they will lend you.

2. Get pre-approved for a loan. Once you have talked to a lender about your finances and your credit worthiness they will give you a pre-approval letter. A pre-approval letter will give you the upper hand once you find a home that you want to purchase.

3. It is a good idea to keep your monthly costs under 28% of your monthly pre-tax income. This should include what your mortgage payment will be. Don't forget to include the real estate taxes and insurance if they are not going to be included in your monthly mortgage payment.

4. If you have any long term debts like a student loan, car payments etc, then you should keep your monthly costs under 36% of your pre-tax income. This includes your monthly housing expenses.

5. Decide what type of loan you will be applying for such as Conventional, VA or FHA loan.

6. Decide what type of mortgage you will be using. Are you going to use a fixed rate mortgage or an adjustable rate mortgage (ARM)? If you decide to use an adjustable rate mortgage you must think ahead and plan for when the rates go up, because your mortgage payment will go up when the rates go up, depending on the terms of your agreement.

7. Consider homes in various price ranges.

8. Think about your future plans, perhaps you should purchase a home at the top of your price range. This will give you more time to outgrow your home and will save you money in the long run.

9. Make a budget. Write down every little expense you have - it all matters.

10. Look at your expenses. What do you really need? What can you do away with?

11. Plan for emergencies. Do you have savings? What will you do if an emergency arises? Be prepared, you don't want to lose that beautiful home you saved so long for.

12. Don't over extend yourself.

Ok, now you have thoroughly thought everything through and it's time to make a decision. Go ahead; make the decision one way or another. If you are not ready to buy, decide what it is you need to do to get to where you need to be. Either way, start talking to your realtor today!

Whatever it is start handling it now. The sooner you take care of business, the sooner you will be in your new home. If you are ready to buy don't procrastinate, because you never know when the rates will go up or when you will lose out on your perfect home.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry. As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele. If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems. I would appreciate the opportunity to earn your business. I am experienced in listing and selling short sales. For information on the short sale process, please visit www.LoudounShortSaleSolutions.com.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors, Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors. I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979. I am married with two grown children and two grandchildren. My son in law is my business partner in real estate. I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William Counties. Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont. Cell 703.727.9885 Office 703.574.3800

Free iPhone/Android Mobile App to search Northern Virginia real estate. 2 easy ways to get the App: Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.

Tuesday, March 26, 2013

Helena Talbot's blog - Gen-Y: Up to Bat as Next Wave of Homebuyers

Thanks to a recent report from the Virginia Association of Realtors (varbuzz.com), I learned a lot about the next generation of homeowners and homebuyers. The VAR pointed to data from the Urban Land Institute (ULI), which noted that in 2010, Generation Y surpassed the baby boomers to become America’s largest generation.

According to the report, Gen-Y-ers currently are 15 to 32 years old, are moving into apartments and buying homes, and will dominate residential demand for much of their lives –just as the boomers did over the past 45 years.

To get a sense of this young generation’s housing circumstances and future preferences, the ULI commissioned an online survey of a nationally representative sample of Gen-Y individuals ages 18 to 22 who are no longer in high school.

The report is quite detailed, but the VAR focused on a few of the most relevant findings to its members, and future home sellers:
• For the first time in decades, America’s average household size is inching up as Gen-Y-ers (and even some Gen-X-ers) take longer to leave home or return to their parents after losing a job.
• Two-thirds expect to be owners, including over half those in their 20s. Among those who will be in their 30s, three-fourths believe they will be homeowners.
• Of those saying they do not expect to own by 2015, seven of ten claim they will own at some future time. • Over half those currently living with their parents believe they will have acquired their own homes by 2015.
• Hispanics are ahead of whites in their ownership expectations. Blacks have slightly more modest home buying goals, but the difference is not statistically significant.
• 21 percent expect to put down less than 10 percent as down payment; 39 percent expect it to be between 10 percent and 20 percent. And 40 percent expect to come up with a down payment of more than 20 percent.

The VAR also noted that since such a high percentage of future homeowners expect to put down less than 20 percent on a home purchase suggests—Gen Y may not be fully apprised of today’s tighter mortgage underwriting standards.

Good food for thought if you are among the newest generation of real estate clients, or planning to sell in the near future.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

Free iPhone/Android Mobile App to search Northern Virginia real estate. 2 easy ways to get the App: Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.

Friday, March 1, 2013

Helena Talbot's blog - Remodeling? Follow These 5 Steps First

Having the flexibility to turn your home into your dream house is an amazing feeling, and remodeling can be fun. But imagine being halfway through your kitchen remodel only to realize the money you budgeted isn't enough to cover completing the project. This is a perfect example of why proper home remodeling planning is so important. Below are five steps everyone should follow before the remodeling process takes place.

Draw a plan to define a clear idea of what you want the end result to look like. Write down any and all thoughts you have in regards to the desired room design. Draw where you think furniture pieces may go; describe how certain elements will be incorporated. The plan can change throughout the remodeling process, but having that visual at the start will help guide the project as things progress. If you are having difficulty formulating a remodeling plan, call a professional handyman or designer to help with direction and give you more ideas.

Research the various elements involved in your plan. Oftentimes, other people have carried out the same projects themselves and can offer valuable advice. Save time by learning from others' experiences, rather than by your own trial and error. If you find your kitchen remodeling, for example, is beyond your capabilities, a skilled handyman may offer expertise that can enhance your plan beyond your expectations. Once you have done your research, you will have a better idea of how much money and time are required to complete the plan.

Create a budget that you are comfortable devoting to your project. Before you begin purchasing materials and securing labor, you need to set a limit to ensure that spending does not get out of control. At this point, your plan may need alterations to fit within your budget restraints. Proper budgeting ensures your plan can be carried out to completion. In order to complete the kitchen remodeling, however, you will most likely need some professional help.

Gather help from experienced craftsmen to ensure your success. While some handy homeowners may opt to remodel alone, having others help will make the process a smoother experience. In some cases, that can be as simple as collecting friends and family to share the labor. Unfortunately, this type of help does not always give you the professional results you hope to achieve. Sometimes it may be best to bring in a professional.

Get the appropriate permits required by your local government to make sure your project complies with local building codes. Make sure to apply at your local town office for any necessary permits involved in your remodeling project. If you are unsure of how to go about this or which permits you require, handyman services can be extremely helpful.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

Free iPhone/Android Mobile App to search Northern Virginia real estate. 2 easy ways to get the App: Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.

Tuesday, February 19, 2013

Helena Talbot's blog - Top 5 Reasons Why Homeowners Can Give Thanks

If you were in the market to buy or sell a home over the past several years, congratulations on surviving the rollercoaster ride! However, as we begin to close out 2012 and head into 2013, positive signs of the market’s recovery are on the rise. Below are five great reasons for real estate consumers and homeowners to be thankful. Spread the word and happy Thanksgiving!

According to the National Association of REALTORS® (NAR), sales of existing homes increased in October, even with some regional impact from Superstorm Sandy. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9 percent above the 4.32 million-unit level in October 2011.
National home values continued their year-long climb in October, rising 1.1 percent from September, according to the October Zillow Real Estate Market Reports. The monthly increase was the largest since August 2005, when home values rose 1.2 percent month-over-month, and represents the twelfth consecutive monthly increase. Annually, home values were up 4.7 percent from October 2011, the largest gain since September 2006.
Americans are feeling less discouraged about the housing market, according to a new national survey by FindLaw.com. The percentage of Americans who say they are sitting on the sidelines rather than considering buying a house has dropped by more than half. In 2010, 63 percent of Americans said they were less likely to buy a house because of the state of the economy. Today, that number has fallen to 30 percent in the latest FindLaw.com survey.
Mortgage rates continue to hover near record-low territory. The average 30-year fixed mortgage rate fell one basis point over the past week to 3.53 percent, according to Bankrate.com's weekly national survey. The average 15-year fixed mortgage rate fell slightly to 2.86 percent (two basis points higher than the record low), while the average jumbo 30-year fixed mortgage rate sank to a fourth-straight record low (4.01 percent).
Builder confidence in the market for newly built, single-family homes posted a solid, five-point gain to 46 on the National Association of Home Builders Housing Market Index (HMI) for November. This marks the seventh consecutive monthly gain in the confidence gauge and brings it to its highest point since May of 2006. According to NAHB Chairman Barry Rutenberg, builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Wednesday, February 13, 2013

Helena Talbot's blog - 5 Great Tips to Close the Deal

In our market, competition for buyers is high and sometimes the seller may need to look at sweetening the pot, so to speak, to get the deal done.

As a member of the Top 5 in Real Estate Network®, sellers often ask me what they can do to help make their home stand out among the sea of homes currently listed. The following are five creative ideas that I believe might just help close the deal.

Offer a Decorating Allowance
There may be a buyer that likes your home but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets or wallpaper). You can also offer cash at closing, or put money in escrow to reimburse decorating and remodeling expenses made within 90 days of closing, up to a maximum amount.
Do a Pre-Sale Inspection
This actually works for both the seller and the buyer. By having a whole house inspection done before listing the home, you get a chance to address any issues before prospects see the home. That means you increase the home's salability. Display the report during open houses and highlight the repairs that have already been addressed. It's like seeing the repair history when you buy a used car; it makes you feel better about making an offer because you know the car is in good shape and exactly what has been repaired in the past. By having the home inspected before listing it, people don't have to guess what kind of condition it is in -- they can see it in writing.
Offer a Home Warranty
A home warranty reassures the buyer that the property is in top condition and gives them comfort knowing that certain future repairs will be covered by insurance. Buyers fear that as soon as they buy the house, the dishwasher, dryer or stove will go on the fritz. A home warranty is an inexpensive way to offer peace of mind to the buyer.
Cover Closing Costs
Sometimes, it takes a little nudge to close the deal. You can offer to pay the buyer's half of the title and escrow fees or prepaid interest charges. Paying the points on the loan may also be a tax deduction for you. Many lenders may limit how much of the closing costs you can pay, but if the buyer is short on cash, offering to pay some closing costs can make a difference.
Offer Seller Financing
There are many ways to offer seller financing. Options include putting funds in escrow to cover several months of mortgage payments, buying down the mortgage rate or carrying a second mortgage to cover the down payment. It is wise not to offer seller financing unless you have consulted a real estate attorney and your real estate agent. Make sure the buyer has good credit. Although this is the least attractive option to the seller to get a deal closed, sometimes it takes creativity and going the extra mile to get your home sold.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Monday, February 11, 2013

Helena Talbot's blog - Fixed Mortgage Rates Move Slightly Higher

Housing is on the march once again, particularly in new construction starts which saw a strong upsurge in housing starts in December. Specifically, new construction jumped to a seasonally adjusted annual rate of 954,000 units. That was 12.1% above the November estimate of 851,000 home starts. In addition, the most recent figure was 36.87% higher than the December 2011 level of 697,000 homes.

THousing Starts Surge Dramatically In December

For comparison purposes, though, the figure was still more than 30% below the average level of housing starts over the past 50 years. Thus, while housing is definitely on the mend, it still has further to go. For the most recent year, as a whole, an estimated 780,000 housing units were started. That was up 28% from the comparable 2011 full-year estimate, keeping in mind that about 1.5 million starts annually are needed to keep up with population growth.

In addition to new starts, privately owned housing units authorized by building permits came in at a seasonally adjusted annual rate of 903,000 homes in December. That metric, too, was up, albeit nominally, from the estimated 900,000 permits issued in November. The year-to-year swing however was dramatic, with a 28.82% increase in building permits overall for 2012.

Housing completions, which have vacillated up and down consistently throughout 2013, also finished the year strong reporting a 13.20% increase at 686,000 completed units, up from 675,000 in December 2011.

Meanwhile, in a rare bit of uniformity, starts were up in every region of the country in December. Specifically, building was higher by 21.4% in the Northeast, where building had earlier been limited by the ravages of Hurricane Sandy. Moreover, starts jumped by 24.7% in the Midwest, by 3.8% in the South, and by 18.7% in the West.

Taken as a whole, there was little not to like in this report, which was materially better than forecast, and should set this sector up for a stellar 2013. The housing data may not be a game changer at this point, but the December increase in building gives us some confidence that the nation’s gross domestic product will in fact rebound higher in 2013.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Friday, February 8, 2013

Helena Talbot's blog - 3 Tips for First-Time Investors

There isn’t a worker in America who doesn’t know he or she should be saving money—especially given today’s economic conditions. Whether you're saving for a home down payment, college tuition or a retirement nest egg, investing in the future is a wise financial decision. Understandably, the two most pressing questions usually are: “How much can I afford to save?” and “What is the best way to make my money grow?”

Financial experts agree that long-term investing is the surest way to build savings—and also that you do not need a lot of money to get started. What is critically important, however, is that you save on a consistent basis.

There are classes you can take, books you can read, and experts you can consult in order to learn the finer points of investing. To begin with, however, there are three fundamental steps you must take:

1. Determine your savings goals. You need to know what your savings goals are in order to figure out how to get there. Let’s say you want to retire at age 65 with the same standard of living you have now. You can find retirement calculators online to help you determine how much money you will need in order to reach that goal.

2. Evaluate the stock market. Guaranteed investments and savings bonds are great for reaching short-term goals. They generally return about 2% to 5% at best. But if you have some time to reach your goal, investing in the market will likely be your best approach. Averaged out over the last 25 years, despite some trying times, DOW returns have paid around 9% or 10%. Here’s the difference: Over 25 years, a $10,000 investment at a 3% rate of return will grow to $26,000. A 9% return will give you $86,000.

3. Understand that time is money and plan accordingly. To be successful at saving money, it must be approached as a long-term plan—get-rich-quick schemese rarely, if ever, work. Therefore, the earlier you start to save, the more money you will have down the road. In these scenarios, assume a 10% rate of return compounded annually:

Begin investing $100 per month at age 30 until you reach age 65. At that point, you will have about $345,000 in investments. You will have put in $42,000 over the 35 year span. The other $303,000 is from the growth of your money over time.
Begin the same $100-per-month saving plan at age 20. At age 65, you will have about $916,000. You will have invested $54,000. The other $862,000 is from the growth of your money over time.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Wednesday, February 6, 2013

Helena Talbot's blog - First Impressions Count: 4 Easy, Inexpensive Ways to Attract Prospective Buyers

If you’re in the process of getting your home ready to be put on the market—or you’ve recently listed your home for sale—you know just how crucial a positive first impression can be when it comes to attracting prospective buyers. While first impressions are everything in this day and age, creating a positive one doesn’t have to cost an arm and a leg.

Here are four easy and inexpensive ways to create an inviting home environment for potential buyers.

1. Trim it right. It’s amazing what a fresh coat of paint can do for your home’s interior. While $100 won’t allow you to repaint every room in your home, it will get you enough to freshen up the trim, and any spots on the walls that need a touch up. Be sure to stick with clean, warm colors.

2. Focus on the front. The first thing a prospective buyer sees when they arrive for a showing is the front of your home. For $100 or less, you can repaint the door, plant a fresh flowerbed, and make sure your lawn is neat and tidy. Don’t forget to shine up details like your house number and mailbox, and repaint or replace anything that looks tired or old.

3. Squeaky clean. Your home should be clean and clutter free for a showing. While you can tackle the process yourself, hiring a cleaning service is a great way to get things gleaming before a showing.

4. Appeal to the senses. You don’t want to turn off potential buyers with a musty smell or dim lighting. Take the time to air out your home before a showing and, if necessary, light a lightly scented candle—or bake a batch of cookies. Make sure rooms—especially the first room a buyer will enter—are well lit and bright by opening curtains and blinds. Bring in an extra floor lamp if necessary.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Monday, February 4, 2013

Helena Talbot's blog - 3 Tips for First-Time Investors

Begin investing $100 per month at age 30 until you reach age 65. At that point, you will have about $345,000 in investments. You will have put in $42,000 over the 35 year span. The other $303,000 is from the growth of your money over time.
Begin the same $100-per-month saving plan at age 20. At age 65, you will have about $916,000. You will have invested $54,000. The other $862,000 is from the growth of your money over time.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

Wednesday, January 30, 2013

Helena Talbot's blog - 7 Steps to Buying a Short Sale

Today’s real estate market is yielding great opportunities for home buyers, such as short sales. Short sales, however, can be a complicated and often frustrating process for both buyers and sellers. From home inspection company Pillar To Post (www.pillartopost.com), here are some important tips for pulling off a successful-short sale transaction:

1. Finding Short-sale Properties
Most short sales are listed by real estate agents on local websites and in MLS feeds. Because some lenders complain that identifying a property as a short sale enables buyers to lower their bids, agents will slip in terms that more subtly identify the listing as a short sale, such as:

"Subject to bank approval"
"Pre-foreclosure"
"Notice of Default"
"Preapproved by bank"
"Headed for auction"

2. Choosing a Real Estate Professional
Make sure the real estate agent you choose to work with has experience and/or certification in short sales. The buying process is often far more complex and far longer than a typical home sale, so a trained ally on your side can make your experience successful.

3. Investigate the Mortgage and Liens on the Property
Your agent must be able to: uncover how much the mortgage is worth; find out how much the current owners paid and when; find out how many liens are on the property; find out which lender is the primary lien holder; research comparable sales in the area.

4. Have a Home Inspection
Since many short sales are sold “as is,” with no contingencies allowed, having a home inspection is imperative. If extensive repairs are needed, the home may not be a bargain after all.

5. Write a Complete Offer
Remember, the lender—not the owner selling the property—decides whether your offer will be accepted, rejected or countered, so helping the lender will help support your bid. Be sure to include the following materials with any short-sale offer:

Cover letter
Signed owner/borrower short-sale purchase agreement
Seller hardship letter
Seller payroll stubs
Two years of seller tax returns
Market comparables
HUD-1 closing net sheet
Repair cost estimate
Pictures of property

6. Negotiate
If the lender rejects or counters your written offer, you’ll have to negotiate with the lender by making a higher offer. Be prepared to offer more money to close the deal, or to walk away if it doesn’t make financial sense.

7. Be Patient
In today’s market, short sales are overloading many lenders. Processing and decision-making times for some lenders can be quite long—up to a year or more. So make sure you’re prepared to hang in there.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate. 2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.