Archive for May, 2008
Loudoun’s Summer Music Concerts And Festivals
May 30th, 2008 categories: For Fun, Loudoun County
Ashburn and Leesburg are hosting a summer full of concerts and events this year. I am not sure who started this outdoor competition but there is no denying that it is anything less than a battle of the communities. I say, “Let the battle begin while we reap the benefits of a summer full of music and fun!”
For the next few weeks I will do my best to outline these events. Just to let you in on who is involved thus far; Belmont, Broadlands, Brambleton, Lansdowne, Tarara Winery, Leesburg Town Hall and The Courthouse (these guys may have started it all- obviously not a community).
This week lets cover Belmont’s- Loudoun Summer Music Fest.
Loudoun Summer Music Fest
LSMF rocks Northern Virginia with a series of LIVE concerts that entertain over 50,000 adults and children at a series of magical summer concerts under the stars. Everyone dances, sings, and cheers. Ticket prices are low; audience partipation is high!For four months everyone’s favorite bands from the 70s, 80s, and 90s play their greatest hits, live on the lawn at Toll Brother’s Belmont Country Club in Ashburn, VA just off the Toll Road from Washington, D.C. The Loudoun Summer Music Fest is a hit!Profits from the concert series are donated to Loudoun County charities through the Loudoun Foundation, a 501(c)(3) non-profit organization. (quoted from their site)
Located: Hosted by Belmont County Club on Russel Branch Parkway in Ashburn
Cost: Depending on the show, advance general admission tickets are $15 or $17 and tickets at the gate are $20 or $25. Kids under 6 years are free. Buy tickets online at the Web site or at Kirkpatrick’s Irish Pub and Manhattan Pizzeria in Ashburn; Spanky’s Shenanigan’s in Leesburg; and The Bungalow in Chantilly, Cascades, Market Place, The Village at Shirlington and Manchester Lakes.
CONCERTS
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Special Deals For Uncle Sam’s Loudoun Children
May 29th, 2008 categories: Buyers, Real Estate News
Loudoun’s County Chairman Scott York is planning to bring before the board of supervisors an item that would gauge the interest of a program that would allow county employees, including firefighters, teachers and deputies, to get a low interest loan for housing according to the Ashburn Today newspaper. The details of a program are still being worked out.
I love my job but there are some days when being a county employee sure are tempting. If anything, I know the pain of paying for my own individual insurance. Being apart of the governments benefits sure are appealing compared to what I pay.
Fairfax and Prince William Counties are also working on plans to assist their employees and residents. From my understanding they are seeking to figure out ways to assist with their own in purchasing foreclosed homes. The money for Loudoun would come from a Housing Trust Fund. Many area developers pay in to this fund when Read the rest of this entry »
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Northern VA Annual Sales History
May 28th, 2008 categories: Fairfax County, Inside The Beltway, Market Statistics
I just found a really cool chart showing the annual real estate sales history for Fairfax County, Arlington County, Alexandria, Falls Church, Fairfax City, and the towns of Herndon, Clifton, and Vienna. Sorry Loudoun.
This information is deemed reliable but should be verified for accuracy. It was provided by NVAR who collects data from MRIS. View the original article.
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Fannie Mae Is Getting Another Facelift
May 27th, 2008 categories: Buyers, Real Estate News
I wrote an article a couple of months back concerning 100% financing going away for areas deemed a “declining market.” Since most places are in this categorie it has become the norm to put at least 5% down on a home unless you were using non-conforming loans. In fact 5% was the minimum you could expect, many have had to put down over 10%. This stretch has forced some buyers out of the market until they were able to collect the needed assets before buying.
The principle with loans for the last year has been to expect change hour by hour. Things seem to change daily. And, so that I don’t contradict that principle you should know that Fannie Mae is adjusting again. Don’t be dismayed, this is a good one.
The Associated Press says, “The government-sponsored mortgage finance company said Friday it will require minimum down payments of between 3 percent and 5 percent for all loans that it guarantees. That replaces a December policy that required a higher minimum if the loan was for a home in a zip code with declining real estate prices.”
Since neighborhoods can vary in value within zip codes they are allowing appraisers to make the determination of if a home is in a declining market.
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A Great First Time Buyer Option
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Ugly MLS Photos Of The Week: Micro Photos
May 23rd, 2008 categories: Worst MLS Photos
I wanted to share with you a couple of photos I found on the MLS posted by agents.
These are different from my normal UGLY MLS PHOTOS in that the photos aren’t that bad. It is that the agent didn’t post them correctly which makes them the size of a thumbnail. I put a border around the photo to show you what size the normal photo should be.
The sad part is that I see this way too often. Would you drag your spouse to see a house from photos you can barely see?
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Loudoun County April Housing Stats
May 22nd, 2008 categories: Market Statistics
Here is a snap shot of the home sales, days on market, active listings, and pending sales in Loudoun County during April.
I know that it is already May but it takes a while to see the correct picture of all that sold when sales are not always updated on time.
As you can see sales are up, days on market are down, and pending contracts are up. The only negative that I see besides a lot of listings, which is common this time of year, is that the average sales price is down. This is a tough stat to judge depending on the types of homes are selling. Nevertheless it appears that every month for the past few we have seen a around a 20k drop in the average sales price.
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Related Articles:
Brambleton And Broadlands Home Sales Stats
Stop Believing The Lies! Ashburn Village, Ashburn Farm, and Belmont Home Sales Are On Fire!
All information is deemed reliable but should be verified for accuracy.
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Earnest Money Deposit
May 21st, 2008 categories: Buyers
If you are planning on purchasing a home there are expenses that you need to know about in the beginning. Expenses you can expect to pay depending on your specific transaction can range from hundreds to thousands of dollars.
You can choose not to pay for a home inspection or radon test. However, it is rare that you will be able to place an offer on a home without an EARNEST MONEY DEPOSIT (some times called a Good Faith Deposit). When making an offer on a home a buyer will place an agreed upon amount of money in the hands of an agreed upon third party who holds the money until the ratification of the contract. After ratification the third party will deposit the money in an account and hold until settlement.
If the deal is never ratified (accepted by both sides) then the money will go back to the purchaser. If it is ratified and falls through before settlement the money will be handled in accordance to the contract. It is possible depending on where the deal is, that the purchaser will get the money back with no issues. If all of the contingencies of the contract are removed and the purchaser defaults and does not go to settlement then the purchaser may forfeit the money depending on the contract and state laws.
If the deal goes to settlement the money will be forwarded to the settlement company to assist with the closing costs.
If you are looking for more information read this article.
It is not my intent to give legal advice. You should speak with an attorney if you need more information on the earnest money deposit. Each state may different laws and contracts in how the deposit should be handled.
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Ashburn’s Pet Adoption Day
May 16th, 2008 categories: For Fun
Tomorrow Toll Brothers of Ashburn will be hosting a PET ADOPTION DAY with area pet rescue and adoption organizations.
WHERE???
WHEN???
Saturday May 17th from 2-4pm
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The Housing Crisis Is Over!!!
May 15th, 2008 categories: Real Estate News
Imagine the day. The decline of housing prices is over and home owners are finished with being the receivers of kicks in the rear. I can imagine parades in the streets, balloons, clowns, and people in Northern VA speaking to their neighbors for the first time.
The only people who aren’t there to enjoy it are the buyers that have been riding the fence for the last 3 years waiting until the bank finally sells homes for $100 the way late night television promises.
This is obviously a little extreme but I wanted to share with you an article that I just read from THE WALL STREET JOURNAL giving the most balanced and honest approach I have seen to when this market correction will actually correct. The article shows previous housing corrections and the factors that brought our economy back in to a place of stability.
HERE IS A SMALL EXCERPT
“During the 1990’s and early 2000’s it took 19% of the average monthly income to service a conforming mortgage on the average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. For first time buyers, it went from 29% of income to 37%. That just proved to be too much… This caused the bubble to burst.
Since then, house prices have fallen 10%-15%, while incomes have kept growing and mortgage rates have come down 70 basis points from their highs. As a result, it now takes 19% of monthly income for the average home buyer, and 31% of monthly income for the first time buyer to purchase a home. In other words, homes on average are back to being as affordable as during the best of times in the 1990’s. ”
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Brambleton And Broadlands Home Sales Stats
May 14th, 2008 categories: Ashburn, Brambleton, Market Statistics
I know that the media is very convincing that the sky is falling. Some are you are believing it and are going to hold out no matter what the numbers say. For those of you who just need a boost of confidence this should do it.
I have outlined 2 of the largest communities in Ashburn 20148. These numbers do not include condos. The average sales price means little when you know that I am mixing foreclosure townhomes with large single families.
Nevertheless, look how many homes are under contract! The Broadlands and Brambleton have very little supply left compared to demand we are seeing. Now both of these communities have homes left to build, especially Brambleton, that are not included in these stats.
Also Read: Stop Believing The Lies! Ashburn Village, Ashburn Farm, and Belmont Home Sales Are On Fire!
If you are interested in viewing stats from other neighborhoods CONTACT ME!
If you are ready to get in on the deals and need some help CONTACT ME!
All information is deemed reliable but should be verified for accuracy. Stats were taken from MRIS.
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