Archive for July, 2008
The Ridges At Belmont Country Club Condos In Ashburn VA
July 29th, 2008 categories: Belmont Country Club, Community Of The Week
The Ridges At Belmont Country Club- In Ashburn VA

If you are looking for a condo in Ashburn you are looking for a rare item.
Why? because it defeats the whole reasoning behind moving to Ashburn…. To get more for your money.
Nevertheless, they are out there. It is just that most of them don’t resemble the ‘apartment look’ that most think of when they think of a condo. If you are going for a condo in Ashburn you can expect the appearance of a townhome. Toll Brothers, the builder of Belmont Country Club, has stayed with the townhome style and has had no problem selling them.
In fact, they only have 17 home-sites left. Three of them are ready for immediate delivery and the rest are just a few months off.
Models Being Offered:
Tennyson, Worthington, Duvall, Middleburg, Asbury, and Melbourne
Each home comes with 2 Bedrooms, 1-2.5 baths based upon model, 2 Parking Spaces OR a 1 car garage.
Financing: FHA & VA Financing is available along with help toward closing cost. * Also, if you are a USAA or apart of the Cartus Relocation Network I can represent you so that you receive your incentive.
Prices: The prices and incentives offered by the builder change and vary based upon the home-site. Currently homes range from $229,975-315,975!
Remember, there is a $0 fee for using my professional services to negotiate your deal for you. I will represent your best interest and walk you through the process as I do not work for Toll Brothers. Contact ME.
Click To See Larger Photos
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Loudoun’s Creighton Farms Fire
July 28th, 2008 categories: Local Events
On the way down Route 15 last Friday night my friend and I saw a huge trail of smoke not too far off. To our surprise what appeared to the maintenance shed at Creighton Farms Country Club managed by the Ritz Carlton was on fire. This is where they keep all of their lawn equipment, golf carts, pesticides, etc… from my understanding. Here is a photo that we were able to grab.

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Possible New Changes To The Mortgage Industry Coming VERY SOON
July 28th, 2008 categories: Real Estate News
Some times we need our Uncle… Some times we don’t.
With Fannie and Freddie Mac in trouble with debt Uncle Sam has had to step in and make some quick revisions to the current mortgage industry to hopefully strengthen it. There was a House Rescue Bill that was approved on July 23rd that should be signed by the President in to law very soon.
Our nation holds around 12 trillion dollars of mortgage debt. Fannie and Freddie together hold around 5.2 trillion of that. If those guys go under, we would be in trouble. So… The 700 page Rescue Bill has a few bullet points that I will share with you that will hopefully strengthen the industry and continue to enable qualified buyers to purchase.
- The bill includes provisions to increase the market share of mortgages insured by FHA. It raises loan limits to high-cost areas, allows the agency to vary the premiums it charges borrowers based on their credit risk, allows for lower monthly payments for borrowers who make on-time payments for the first 5 years of a loan and extends the max loan term of the FHA single- family loans to 40 years.
- The house amendment provides $300 billion in new guarantees to help refinance at-risk borrowers into mortgages that borrowers could afford to pay.
- Down Payment Assistance Programs are banned in the program. Nehemiah, Genesis, and Ameridream would be affected.
- FHA minimum down-payment would increase from 3% to 3.5%.
- Lenders may receive a government incentive to lower interest rates and loan amounts for current mortgage holders experiencing trouble.
Until the President signs this bill in to effect these bullet points could change. Nevertheless, if you are a First Time Buyer and taking advantage of a FHA loan it would be in your best interest to move as quickly as possible or you can expect to pay more before you know it.
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Where Has All The Bad News Gone?
July 24th, 2008 categories: Market Statistics, opinion
I have been known to jump the gun. I can’t help it.
However, I am sticking my finger in the wind and sensing that the winds of change have begin to blow. I have been saying it all year when many of my fellow real estate bloggers refuse to (probably out of wisdom). Nevertheless, there is a small shift that is being seen in our local market that we have not seen for 2.5-3 years.
As I mentioned yesterday… Economist typically agree that a buyers market typically means that we have 6 or more months of inventory available. Currently, not including condos, we have around 4.5! Does this mean we are moving in to a sellers market???
I will say this. Buyers who are trying to steal homes from seller are not having as much luck as they used to. In fact, escalation clauses are becoming common place and it is once again just as cheap to buy as it is sell.
I do know that this is one of the best months of year to buy homes so there is something to say for that. Nevertheless, a tipping point is timely thing and would be well appreciated.
Search the MLS.
Have your VA home price evaluated for free
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Loudoun County July Absorption Rate- Buyers Market?
July 23rd, 2008 categories: Market Statistics
Is now the time to buy or sale?
How is the Loudoun County real estate market really doing?
These are both great questions that consumers and sellers are asking much more than they were months back. I want to help you decide by showing you a stat called ABSORPTION RATES… which is how long in the current market it would take to sell all of the homes if the pace of buying activity continued as is.
- April- 44.25 weeks
- May- 35.71 weeks
- June- 24.88 weeks
- July- 19.05 weeks for the market to absorb the current inventory.
Friend that is less than 5 months! The National Association of Realtors and most economist agree that 6 months or more of inventory is a buyers market. Do with that what you will, but I would encourage you this…
“If you can buy now- DO IT. If you can sell now and want to move.. DO IT.”
Loudoun County is not doing too bad.
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Loudoun County Housing Stats- Another Great Month
These stats do not include condos. They are deemed accurate but should be verified for accuracy. The July stats were taken only up to the 23rd of July.
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The Best Part Of Ashburn = Redskins Park
July 22nd, 2008 categories: Ashburn, For Fun
This is a Northern VA Real Estate Blog.
Many of you don’t watch football. Therefore, I apologize for today’s post. However, we are only a few weeks away from football season and I can hardly contain myself. I love the skins.
Therefore this morning I made my way out to the open practice offered every year by the Redskins free of charge in Ashburn, VA. I wanted to share a few photos with you.
The Newest Star- He looks Dangerous!
You can find out more about visiting the practice this week by visiting their site HERE….
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Rule 1# Know Thy Credit Score
July 21st, 2008 categories: Real Estate News
$15 could save you A LOT of money…Many people wait until making a large purchase before checking their credit score. This can be a costly decision when you are ready to purchase since to a lender your name is only as good as your credit score. If you are planning on purchasing a home any time in the future it is a good idea to know where your score is at. Your score can always be improved, but some times you will find that there are issues that you didn’t know about that you can fix rather easily.
I had a client a few years ago that while applying for a loan found that there was a small $12 dentist bill that she thought was paid years before. The credit report revealed that it wasn’t ever paid. Because of this discrepancy, it lowered her score by around 50 points! After addressing the issue she was able to raise her score and therefore get a better interest rate on her loan which saved her hundreds of dollars over the life of her loan!
Here are a few sites where you can pull your credit score….
- FreeTripleCreditScore.com
- FreeCreditReport.com
- myfico.com
Make sure that whoever pulls your credit score shows you your scores from all three credit agencies… Experian, Transuniun, and Equifax since it is the average of these 3 scores that count.
Get TheRealEstateBakery.com By Email Or RSS…Search the MLS
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Funny MLS Photos: These Come With The Home
July 18th, 2008 categories: Real Estate News
There are many benefits to home ownership, and these real estate agents are quick make sure we recognize them in the photos of the homes they list…….
Momma always said, “If you have it… flaunt it.” This here my friend is a ga-rage.

Mr. Agent, make sure that the purchaser knows that if they purchase OUR home… we are gonna let them keep those logs out in the yard.
The dining room. I wonder what happened to that other light?
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3 Rental Tips
July 17th, 2008 categories: Sellers
1. If you are looking for a home to move in to over a month out stop…. STOP LOOKING.
- Some of you love to look but the rental market right now is too hot for you to not be able to make up your mind. The homes you like today will not be around a month from now unless you get real lucky. It is best to wait until about a month to 3 weeks out and then hit it hard unless you are an out-of-towner (new word).
2. Double up on your security deposit.
- If you are trying to find a place and you have terrible credit or you are coming out of a foreclosure you are going to have a hard time getting a homeowner to trust you with their home. The best way to comfort their hearts is to double up on the security deposit. It works.
3. Don’t lie on your application.
- I don’t know what happens to some people when they fill out an application but they think if they fill out an application like a job application that they have a better chance of getting a home. Bad move. If a homeowner sees that you are lying after pulling your credit, seeing a fake SS number, a judgement you didn’t disclose, or whatever, they are surely not going to trust you with their home. It is much better to be honest up front. You have nothing to loose and hopefully something to gain.
OTHER GREAT POST
Ashburn Rentals Are Going Nuts!
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Loudoun County Housing Stats- Another Great Month
July 16th, 2008 categories: Market Statistics
It was another great month for Loudoun County home sales. Look at all of the good notes….
- More homes sold than the previous months
- The average prices increased again
- The days on market decreased
- There is less suply and MORE DEMAND!
- There are fewer homes that came on the market this month
Other Great Posts:
Ashburn Rentals Are Going Nuts!
Get TheRealEstateBakery.com By Email Or RSS…
Search the MLS.
All stats are deemed reliable but should be verified for accuracy.
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