Archive for March, 2008
What Is Ashburn’s Best New Restaurant???
March 7th, 2008 categories: Local Events, Loudoun County
Ashburn is the heartbeat of Loudoun County. For those of you who live inside the beltway that believe that Loudoun County is the boonies, you obviously have not been to Ashburn.
I decided to keep the conversation lite today and take a poll of your favorite new restaurant in the area. Since I have a lot of readers outside of Ashburn, I will let you simply choose your favorite of the choices. The results will be posted on the site.
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The Secret To Saving Yourself From A Dying Home
March 6th, 2008 categories: Buyers, For Homeowners, Sellers
So you have had the home inspection done on the home you are buying. A few things needed some love. The HVAC is looking a little old but is still blowing and the dishwasher is the only thing that hasn’t been replaced.
Sounds a little risky. Its not like you will have a few grand to put up for a new air conditioning system if it dies this summer. What to do? Does your home owners insurance cover these items? Probably not.
Don’t worry. You are working with the Jonathan Bunn. Rated the best Realtor around in my opinion. That stands for something, right?
When purchasing an older home, I highly recommend a home warranty.
What is a home warranty? A home warranty is temporary insurance you can purchase that will cover most of the items that standard insurance does not cover. Things like; appliances, heating systems, cooling systems, garage door openers, washer/dryer, ceiling fans, garbage door openers, disposals, plumbing, electrical systems, trash compactor, etc… You can add other items depending on what home warranty plan you get.
Most home warranties last a year but can be extended from year to year. The typical cost will run you from the mid $300’s to the low $400’s. The price will vary based on what you have covered along with how much of a deductible you want to pay when the home warranty service provider comes out to fix an item.
For example: I paid $385 this year for the home warranty on my town home. This past week my dishwasher started acting funny so I called the home warranty guys. I paid $55 for them to come out and whala! I am covered. No parts charge, no hourly charge, no estimate charge. $55 and I am done.
The question you will have to decide for yourself is, “Will it be worth it?” Truthfully, I could have probably had this addressed for much less than $385. However, my home is getting too an age where this most likely will not be the only issue I call about this year. Some warranty companies will even buy you a new whatever if they cannot fix the present problem. Pretty cool.
So, if you are buying a brand new home, there is a good chance you already have coverage on your items and don’t need a warranty for a couple of years. Your call. If you are buying a previously lived in home, I would go for it. You can get one at settlement or wait some time like I did.
Oh, by the way… Do not make the mistake that one of my clients made. If you have a home warranty and you have a problem that needs to be fixed, DO NOT CALL your own fix-it-guy and then expect the home warranty company to reimburse you. CALL THEM FIRST OR YOU WILL BE PAYING ALL OF YOUR OWN FEES.
Sellers, if you have an older home, it may be an attractive offer to have your Realtor advertise that you will pay for the new buyers 1st year of the home warranty. It could save you from buyers asking you to drop your price for a new HVAC. No guarantees. On some plans you can even get the warranty while it is on the market to cover any issues during the selling period and not have to pay for the plan until settlement when you transfer it to the buyer. Sweet deal. Especially for vacant homes.
Here are a few home warranty companies to consider:
American Home Shield, 2-10 Home Warranties, HMS Home Warranties, Sears Home Warranty, and Old Republic.
If you need a referral to a home warranty salesperson, you can let me know by contacting me above. If you are moving in to Loudoun, Fairfax, or Arlington County and need a Realtor to work on your behalf, contact me.
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Rental Prices Are On The Rise!
March 5th, 2008 categories: Fairfax County, Market Statistics
After looking over the prices of rental properties around the beltway I thought you would be interested to know that rental prices are on the rise.
Here is a graph that I put together showing the prices of Arlington County, Fairfax County, Fairfax City, and Falls Church City for the final quarter of last year
If you read my article about the 4 stats buyers should know, you heard me speak about how many people statistically should have purchased a home in the last couple of years but have not. Well, these people have to have some where to go. It appears that a large portion of them have decided to go back to renting.
Falls Church City has not only seen the largest price increase in rentals, they are the only one that saw their rental properties filled in a shorter amount of time than in the 3rd quarter of 2006.
As a Realtor I have been able to assist many people in renting out their home. If you need some help renting out your home in Fairfax, Arlington, or Loudoun you can contact me here.
Other Great Articles
4 Statistics Waiting Buyers Should Know
A 2003 Northern VA Housing Flashback
(I pull these stats by quarter so I do not have this years info on rentals yet- sorry). My information comes from NVAR. All information is deemed reliable but should be verified for accuracy.
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Community Of The Week: Winsbury Of Arcola
March 4th, 2008 categories: Community Of The Week, New Construction
Tuesdays are for new construction.
Therefore, I am going to let you in one of the newest projects in the Dulles area. Richmond American who has built all over Virginia including communities like Amberliegh, Ashbrook Village, and Vantage Point in Ashburn has broken ground and is now selling in Arcola, VA. The zip code will show up as Sterling but will be within a couple of minutes from Loudoun Valley Estates and Villages.
The community is called Winsbury. It is nestled perfectly near the corner of Gum Springs Rd. and Evergreen Mills Rd. across from Pangle’s Store. This area still holds the beauty of Old Loudoun with elements of country living with old barns, large tree’s, a country store, and mom & pop shops.
Don’t worry, you will have an easy commute being only minutes from Old Ox Road, Route 50, 28, Loudoun County Parkway, and the Dulles Toll Road. There is currently a lot of road construction in the area that will soon make it very easy to commute quickly between North East Loudoun (Ashburn) and South East Loudoun (South Riding).
Wisbury by Richmond America will host their 50 homes on lots ranging from .25 to .33 acres. They will be building a distinct collection of their Estate and Executive Series homes, i.e… the Princeton II, Amherst, Providence I & II, Vanderbilt I & II, Middleburg, Anderson, and Michaux models.
From my communication with the sales manager, Jim Gallagher, they are currently offering pre-construction pricing starting in the 500’s that will change as the community develops more.
The community will not have a pool or community center for the purpose of keeping the HOA cost at a low $50.
If you would like to view the community, contact me.
If you are looking to purchase a new home in Ashburn, South Riding, Loudoun Valley Estates, Loudoun Valley Villages, Brambleton, Arcola, Sterling, Leesburg, or Landsdowne contact me at any time to represent you as a buyer.
*Other Great Communities*
Community Of The Week: Waterford Ridge
New Windermere Community In Ashburn
(all information is deemed reliable but should be verified for accuracy. Jonathan Bunn does not represent Richmond American)
| Discussion: 2 Comments »
So Long Grantors Tax- Huge Update
March 4th, 2008 categories: For Homeowners, Local Issues, Real Estate News
This past Friday I posted one of the few articles in the area concerning the VA Supreme Court ruling concerning the Grantor’s Tax in the article:
What The VA Supreme Court Did Today That Gives Sellers A Reason To Dance!
Up until now we have not known what the effects of this judgement would mean. NOW WE DO!
Here is the quote from Gary Clemens, the Clerk Of Circuit Court:
“In light of the Supreme Court’s ruling, my office will be making plans to refund the regional transportation tax collected since January 1, 2008. It is my understanding that the NVTA is meeting on March 6, 2008 to develop a refund policy and procedure. Once I receive information from the NVTA regarding their recommendations, I will announce the refund procedures on March 7, 2008.”
Therefore, if you were one that settled on your home since January 1st of this year - EXPECT A REFUND!
I will keep you up to date on any new information that I receive.
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3 Reasons You Should NEVER CONSIDER A Short Sale
March 3rd, 2008 categories: Buyers, Local Issues, Short Sales & Foreclosures
I had a stroke of metaphorical brilliance this morning while speaking with a client.
The more I deal with and learn about short sales the more I see them as the worst thing that has ever hit the real estate market. The problem is that clients are easily allured by them like some kind of bright glow so I continually have to work with them: which I will.
I was able this morning to deter a client from even considering them by offering them a metaphor of what they are like. Afterwards, I felt so good that I decided to create a few more. Feel free to add to the list….
Trying To Buy A Short Sale Is Like…
- Planning your honeymoon cruise with a street vendor and not knowing if the ship will let you on until it is about to depart from the port.
- Buying a dog with fleas and a heart murmur with a questionable life expectancy because he is $30 cheaper than the puppy (this one is a stretch-sorry).
- Putting all of your retirement funds in to a lottery account and hoping that the guy that pulls the ticket out of the hat will choose yours 30 days before your retire.
There is no question whether or not some people will score a good deal from time to time with a short sale. However, the risk and percentage of transactions that are short sales that work out are questionably ever worth it. I do encourage buying a home that is a foreclosure or REO. The bank turn around time is much closer to 1-7 days instead of 45-60 days while everyone else puts in their offers.
Another great article that exposes some of the issues with short sales can be found at by Frank at Frankly Realty. Click Here.
If you are looking to buy a foreclosure property in Ashburn, Sterling, South Riding, Gainesville, Herndon, Leesburg, Fairfax, Brambleton, Belmont, Broadlands, Lansdowne, or Chantilly contact me as I would be happy to respresent you.
Related Articles:
Letting The Cat Out Of The Bag On Short Sales
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