Lake Ridge Virginia Real Estate News

How long does it take to buy a home in Woodbridge Virginia

Here in the Woodbridge Virginia area, this is a question we get a lot. Relocating buyers and first time time buyers always have this question.

In different parts of the country the time it takes to purchase a home from start to finish can vary.

The answer is. Once you have identified a home, the time for negotiations is usually twenty four to forty eight hours. Then when all parties agree ( Ratification)  the inspection process and mortgage process can take on average thirty days.

Note: if you are thinking of buying a brand new home. On average the process is four months or longer. However, let us know what you are looking for. Some builders have what we call spec units or homes that are getting ready to fall out of contract.  Those homes are first come, first serve and go quick.

So to be successful in the Woodbridge Virginia real estate market you need to keep a few things in mind:

  1. Make sure you have a pre-approval letter from your preferred lender in how long does it take to buy a home in Woodbridge Virginiahand.
    • A pre-approval means you have sent in your personal information such as tax returns, W-2's, checking statements etc.. to the lender. They have reviewed your credit report and have determined you are qualified to buy up to the pre-approved amount on the letter. ) 
    • Pre-qualification letter- these are typically received from online companies. You key in some information on line and no one has reviewed your taxes, and write off's and debt to income or credit history. Most listing agents are fairly savvy and will accept a pre-qualification.
  2. When you purchase a home you have different types of loans you can choose from
    • Conventional Financing- this loan requires a down payment of five, ten and even twenty percent down if you would like to avoid PMI ( private mortgage insurance) 
    • FHA Financing- this is typically used by first time buyers due to the low down payment option. For only three and a half percent down payment you can buy any home ( as long as it is in good condition not needing a lot of repairs) 
    • VA Financing- this is a loan that is used a lot in the Woodbridge Virginia area. With our close proximity to all the military bases and the Washington DC Area we see a lot of military veterans.
      Military veterans and spouses can buy a home ushttp://lakeridgevarealestatenews.com/post/4442962/cool-mobile-app--that-allows-you-to-bypass-talking-with-a-realtoring their VA Eligibility. This loan is so attractive because their is no down payment required! Yes, you read that correctly. So if you served chances are you have VA Eligibility. 

Currently we are working with several clients who called us less than a month ago and all are under contract. Many are in various stages of inspections from  home inspection, appraisal, well and septic, termite, radon and surveys. The great news is you do not have to worry about all that. As your BUYERS AGENT we handle all the details from start to finish.

Remember when you are thinking of buying a home, the most important thing to do is get pre-approved. Then align yourself with a local Woodbridge Virginia real estate specialist. A REALTOR® who knows the area well, knows the floor-plans, the builders and the neighborhoods. Some that is going to listen intently to what you want in a home, the type of lifestyle that you are seeking and someone that will help you get it.

Real estate is not about selling. A good REALTOR® is all about you the customer. Your goal is our goal. 

Start searching local homes for sale right now in the Woodbridge Virginia Area -Start Here

If you have a smart phone you're in luck! You can find out what a home is listed for. The FREE Mobile APP for real estate is awesome. No need to call the # on the sign...just snap a photo of the house from your car and walla- you have all the details in seconds GET IT NOW

It would be our pleasure to be handing you the keys to your home next month. So if you are ready to get started simply call us at 1-571-477-1105. 

 


Peggy James
Twins Selling Real Estate Team
EXIT CHOICE REALTY
My direct # is 703-851-3085
Our Office # 1-571-477-1105
 
Twins Selling Real Estate Woodbridge Virginia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Visit our website  at  TwinsSellingRealEstate.com 
Like us on Facebook- We're TwinsSellingRealEstate
 
Subscribe to my local blog LakeRidgeVARealEstateNews.com to keep up with market activity, and tips for home buyers and sellers in the Lake Ridge Virginia area.
 
 
Note: This real estate blog is written by me Peggy James and it is is my opinion and may not reflect the opinion of Exit Choice Realty 14067 Crown Ct, Woodbridge Virginia 22193.I have been blogging since 2008 and I am a full time REALTOR® .

Fair Housing Symbol

 

0 commentsPeggy James • July 23 2014 04:21AM
How long does it take to buy a home in Woodbridge Virginia
share
Here in the Woodbridge Virginia area, this is a question we get a lot. Relocating buyers and first time time buyers always have this question In different parts of the country the time it takes to purchase a home from start to finish can vary… more
I'm not SEXY, but oh do I have a lot to offer.
share
If this house could talk it would be saying; " I'm not as SEXY as the house down the street, but the quality of life I bring to the table is a RARE FIND! " And I have a lot to offer! Seriously, I am sitting on a one acre lot in Lake… more
Amazing Luxury Homes in Westridge Subdivision in Lake Ridge Virginia
share
For anyone who is searching for a luxury home in the Woodbridge Virginia area, you have many choices Luxury homes in our area are considered to be over $500, 000 and go up as high as a Million Dollars. There are even a few that are worth far more… more
Cool Mobile App, that allows you to bypass talking with a REALTOR
share
Have you ever been out driving neighborhoods you love You see a home for sale but you do not want to call the agent on the sign. All you want is the information. Heck you don't even know if you can afford that neighborhood yet. (right? ) Well check… more
Right on cue "The buyer says I like it, but I think I'll wait"
share
Buying a home is a huge decision. Buying a home you are going to live in should not be about how much money you are going to make down the road. Buying a home should be more about your needs, wants and desires to find a place that you will… more
Having a REALTOR who is tech savvy has it's advantages when relocating
share
When you are relocating to a new area, the last thing you want or need is to waste time dwadling. You are on a house hunting trip. A mission to find your next home You need a REALTOR® who knows the area well, who has the tools and systems in… more
Dear Seller, We Can't Ignore The Home Inspection
share
Love the blog post below written by Doug Rogers titled "Dear Seller, We Can't Ignore The Home Inspection". Selling a home is a stressful time. Having a home inspector come into your home to look at corner of your home, every system, every… more
4328 BERWICK PL, WOODBRIDGE, VA 22192 Just Listed in Westridge
share
4328 Berwick Place located in the Westridge Subdivision has just been listed FOR SALE by Alicia Utz in our EXIT Choice Realty office. Alicia was hired by the owners to list, market and sell their home. What makes our real estate… more
9397 Cloudberry Way, Manassas City Virginia 20110 JUST SOLD!
share
On Friday we had the pleasure of helping the owners of 9397 Cloudberry Way in the Wellington Community in the city of Manassas Virginia go to settlement. They called us around Easter and asked us to list ad sell their home. In fact they asked us… more
1237 Farrish Drive, Fredericksburg Virginia 22401 is For Sale
share
The home located at 1237 Farrish Drive in the Village of Idlewild is for sale. What makes this home unique to the market place is the age and location. This is a one year old Ryan Built Shakesphear model. The owners are up for relocation. They… more