Lake Ridge Virginia Real Estate Help For Sellers and Buyers: February 2012

Everyone arrives at the settlement office, sellers, the listing agent, the buyers agent and the attorney. We are about to head into the conference room when we get a call from the purchaser...he has been hit by a bus......

Amazing enough the purchaser walked from this with a few minor injuries. The car totalled. All those personal move items ( you know all those special things you carry yourself to keep safe)...ruined. Everyone remained flexible. Sellers gave the purchaser a pre-occupancy for the weekend and the purchaser will sign Monday Morning.

One more item to add to the list..... 

88 Types of Turbulence When Buying or Selling a Home


Let's look at the Purchasers Side of Transaction:

 

1. Does not tell the truth on loan application.

 

2. Has recent late payments on credit report.

 

3. Finds out about additional debt after loan application.

 

4. Borrower loses job.

 

5. Co borrower loses job.

 

6. Income verification lower than what was stated on loan application.

 

7. Overtime income not allowed by underwriter for qualifying.

 

8. Applicant makes large purchase on credit before closing.

 

9. Illness, injury, divorce or other financial setback during escrow.

 

10. Lacks motivation.

 

11. Gift donor changes mind.

 

12. Cannot locate divorce decree.

 

13. Cannot locate petition or discharge of bankruptcy.

 

14. Cannot locate tax returns.

 

15. Cannot locate bank statements.

 

16. Difficulty in obtaining verification of rent.

 

17. Interest rate increases and borrower no longer qualifies.

 

18. Loan program changes with higher rates, points and fees.

 

19. Child support not disclosed on application.

 

20. Bankruptcy within the last two years.

 

21. Mortgage payment is double the previous housing payment.

 

22. Borrower/co borrower does not have steady two-year employment history.

 

23. Borrower brings in handwritten pay stubs.

 

24. Borrower switches to job with a probation period.

 

25. Borrower switches from job with salary to 100% commission income.

 

26. Borrower/co borrower/seller dies.

 

27. Buyer is too picky about property in price range they can afford.

 

28. Buyer feels the house is misrepresented.

 

29. Veterans DD214 form not available.

 

30. Buyer comes up short of money at closing.

 

31. Buyer does not properly "paper trail" additional money that comes from gifts, loans, etc.

 

32. Buyer does not bring cashier's check to title company for closing costs and down payment.

 

Ok, lets look at the sellers side of the transaction:

 

Now let's look at the Sellers side of the transaction:

 

33. Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).

 

34. Cannot find a suitable replacement property.

 

35. Will not allow appraiser inside home.

 

36. Will not allow inspectors inside home in a timely manner.

 

37. Removes property from the premises the buyer believed was included.

 

38. Cannot clear up liens – is short on cash to close.

 

39. Turns out there was a shared equity investor or someone else owns a portion.

 

40. Encounters problems getting partners' signatures.

 

41. Leaves town without giving anyone Power of Attorney.

 

42. Delays the projected move-out date.

 

43. Did not complete the repairs agreed to in contract.

 

44. Seller's home goes into foreclosure during escrow.( this happens with short sales)

 

45. Misrepresents information about home and neighborhood. ( HOA Issues)

 

46. Does not disclose all hidden or unknown defects and they are subsequently discovered.

 

The Realtor(s):

 

47. Has no client control over buyers or sellers.

 

48. Delays access to property for inspection and appraisals.

 

49. Does not get completed paperwork to the Lender in time.

 

50. Inexperienced in this type of property transaction.

 

51. Takes unexpected time off during transaction and can't be reached.

 

52. Misleads other parties to the transaction – has huge ego.

 

53. Does not do sufficient homework on their clients or the property and wastes everyone's time.

 

The Lender(s):

 

54. Does not properly pre-qualify the borrower.

 

55. Wants property repaired prior to closing.

 

56. The market raises rates, points or costs.

 

57. Borrower does not qualify because of a late addition of information.

 

58. Lender requires a last-minute second appraisal or other documents.

 

59. Lender loses a form or misplaces entire file.

 

60. Lender doesn't simultaneously ask for all needed information.

 

61. Lender doesn't fund loan in time for close.

 

The Property:

 

62. County will not approve septic system or well.

 

63. Termite report reveals substantial damage and seller is not willing to fix.

 

64. Home was misrepresented as to size and condition.

 

65. Home is destroyed prior to closing.

 

66. Home is not structurally sound.

 

67. Home is uninsurable for homeowners insurance.

 

68. Property incorrectly zoned.

 

69. Portion of home sits on neighbor's property.

 

70. Unique home and comparable properties for appraisal difficult to find.

 

The Title Company:

 

71. Fails to notify lender/agents of unsigned or unreturned documents.

 

72. Fails to obtain information from beneficiaries, lien holders, insurance companies or Lenders in a timely manner.

 

73. Lets principals leave town without getting all necessary signatures.

 

74. Loses or incorrectly prepares paperwork.

 

75. Does not pass on valuable information quickly enough.

 

76. Does not coordinate well, so that many items can be done simultaneously.

 

77. Does not bend the rules on small problems.

 

78. Finds liens or other title problems at the last minute.

 

The Appraiser:

 

79. Is not local and misunderstands the market.

 

80. Is too busy to complete the appraisal on schedule.

 

81. No comparable sales are available.

 

82. Is not on the Lender's "approved list."

 

83. Makes important mistakes on appraisal and brings in value too low.

 

84. Lender requires a second or "review" appraisal.

 

Inspectors:

 

85. Pest inspector not available when needed.

 

86. Pest inspector too picky about condition of property.

 

87. Home inspector not available when needed.

 

88. Inspection reports alarm buyer and sale is canceled.

This was a list I received from the days of my Star Power Training with Howard Brinton years ago. I keep in with my listing and buyer presentation. When buying or selling a home you must remain flexible and roll with the cards that are dealt.  

Today I visited the brand new subdivision off Hoadly Rd just getting started. The model is open so I decided to go take a look. The subdivision is called Mason's Landing by Beazer Homes. It is right across the street from Chriswood Farms on Hoadly Rd. What makes Mason's Landing so attractive are three things. 

• Level Cul-de-sac lots with walkout and walk-up basements!
• Osbourn Park High School District
• Easy access to Prince William County Parkway

 As I wandered through the model, I noticed several things that caught my attention. The high ceilings, the main level library, the very well appointed kitchen and family room area, the outstanding master bedroom and bath. WOW! The basement was finished on this model with a walk-up and an egress window to the fifth bedroom. The way they did the deck, the patio and welled exit were very, very nice. As you look out the model windows at the entire subdivision you begin to realized that all the lots are level. This is going to be a gorgeous subdivision when it is completed. I understand from Bob Timmons the sales manger on site that five homes are already under contract!

 

Let's talk price.The prices at Mason's Landing start at $439,900. In fact the model that you will see there is the smallest home offered in the subdivision and that is approximately a 2700 square foot home. Other homes can be as large at 3300 square feet and they start at $479,990. This is an exciting product line for our area. Finally we have an affordable move up home option for those who live in Lake Ridge Virginia area and who are used to all the services in the area yet, they feel they are ready for a brand new home. To learn more VIEW HERE

 

Directions: From Lake Ridge area. Follow Old Bridge until it turns into the Prince William Parkway. Continue on the Prince William Parkway and then turn left on Hoadly Rd, left at the Ridgefield Village Drive bare right and watch for the builders flags and signs on the right.

Model is open 11-6 daily.

Feel free to call Bob Timmons the Sales Manager at 571-285-4259

Note: Erick Blackwelder or myself will work as your Buyers Agent to help you. 

 Tell  us you saw this blog post and we will represent you as your Buyers Agent and we will give you a one percent commission rebate back at closing up to $5000.

First off I applaud you for the desire to sell your home yourself. Will it be easy, that will all depend on you and your efforts to sell your home. If you believe,  all a REALTOR® does is place a sign in the yard, a lockbox on the door, put the home in MLS and they pray it sells. I'm hear to share with you it takes a lot more than that.

I've been working as a full time REALTOR®, for more than twenty years. Never has it been more difficult to sell a home. My typicall work week is over sixty five  hours a week, and over hald that time is spent in front of a computer marketing the homes I list.Why, because of the Internet, IDX, the lack of financing options and the lack of qualifiied home buyers who have the power to purchase your home.

 

The statistic's are as follows:

 

Things that For Sale By Owner's forget about:

• Safety.  Just becuase your home is on the market does not mean you open the door to anyone ( REALTORs®,  learn about their clients, and do a sit down interview before they begin househunting and make sure a lender has run the prospective buyers credit and qualifications.)
• Many home buyers are on a house hunting trip. If  a prospective buyer cannot get access to your home on their schedule, they will just move on to the next home. You will need to remain extremely flexible during your marketing time until you have a Ratified Contract.
• Marketing Matters...how you present your home to the world can make the difference between a sale and a stale listing that sits for months and months unsold. So with all the money you are saving on not hiring a REALTOR®,plan on spending a good amount of money to your target audience.
• Financing Options. It is critical that you can show a prospective buyer what financing options they have. Learn if you can offer VA Financing, FHA, USDA, VHDA, Conventional or  can the purchase assume your loan. Next you need to know if you will pay closing costs.
• Selling begins when the the buyer says No ( that typically means KNOW. "I don't know enough and need your guidance")
• Buyers Agents-many homebuyers today have Buyers Agents. Especially here in the Commonweath of  Virginia  since real estate is still sold under the  Caveat Emptor rules. Simply put the means "Buyer Beware". So with said, be prepared that many people who will want to look at your home have a REALTOR working as a Buyers Agent. Know how much you are willing to pay the Buyers Agent. Disclose up front before negotaitions.
• Fair Housing Guidelines- make sure you are following the law..
• The first two weeks on the market is CRUCIAL. Once you home has been Online for more than two weeks it becomes a Dated or Stale Property. Buyers will wonder "what's wrong with it....?" and "Why didn't anyone else buy it?"

Learn how we are selling homeowners home fast in today's challengind real estate market. View Here

 

 

We'll have 16409 Chattanooga Lane in Woodbridge Virginia Open This Sunday from 1pm to 3pm. 

For more information visit the property website http://16409chattanooga.CanBYours.com

 

•  
• * Three Finished Levels
• * Five Bedrooms
• * 3.5 Baths
• * Huge Deck
• * Fenced Back Yard
• * Walkout Basement
• * Stainless Appliances
• * Granite Counters
• * Hardwood Floors
• * Luxury Bath
• * Two Car Garage
• * Gas Heat and Cooking

 

Owners say "Make us an offer we can't refuse!"

 

***Immediate Delivery*** VA Zero Down Possible***Seller Will Assist With Your Closing CostsS***

 

 

 

 

I saw a video this morning from a Pheonix News TV Station talking about what's in and out according to the National Home Builders Association. The same goes here...we are seeing more and more smaller homes being offered by local builders.

What's out for 2012? Some of the items on the list are: 

• The Mega Mansions
• The humongus two story family rooms
• The theatre room
• The formal dining room
• The sunroom
• The whirlpool bathtub
• The outdoor kitchen

The reporter stated buyers will be scaling back as we head into 2012.  

 

Now one has to wonder what will happen to all those huge mega mansions that were built between 2003 and 2009 here in the Prince William County Virginia area? Will prices soften? Only time will tell. My opinion is if you have a need for the large home or can afford it and the utilties and the maintaince then buy it. Love it and thrive in it!

 

Check out some of the top selling plans under 2000 square feet-Check them out

Have you seen the Ryan Homes Springbook Model in our area?  It is being built in Warrenton, Fredericksburg and in Port Potomac in Woodbridge Virginia. This is the perfect size for those looking for a main level master bedroom homes with a basement. This one even has a third level bonus room option if you need it. --Check out this video

The Village of Idlewild in Fredericksburg offers that small town community feel you've been looking for. Located between Rt 3 and Rt 1 in Fredericksburg Virginia this community is so convenient to the major thoroughfares, old town Fredericksburg, Central Park  and Cosgrove's Corner. The community has two entrances one from Rt 1 and another from Rt 3. 

My identical twin sister Patty Blackwelder is the sales representative at The Villages of Idlewild for Ryan Homes, so I decided to take a drive to see where she is working and what Ryan Homes had to offer.

 

 

 

 

 

 

 

 

 

 

 

Are you asking yourself where is Idelwild? So was I.

 

Imagine heading down I-95 to Fredricksburg. You,exit on Rt 3 heading toward Old Towne Fredericksburg. As soon as you cross over the highway and turn right on Lafayette Blvd and follow the Ryan Homes signs to the model home.

 

What I really liked was the boulevard heading into the community with gorgeous lamp posts lighting the sidewalks along the way. People were walking dogs, and children in strollers and enjoying the day.

 

 

 

As I drove into the community ,I was surprised at how little signage there was for the community. If you didn't know the area, you would never know there was an entire three hundred acre new homes community back there. I'm a full time Realtor and even I was surprised to know it was there.

Then I approached the model home, I saw a town square. Love it! It had a park like setting surrounded by the work at home spaces for those who have small businesses. I saw a hair salon, a pet grooming salon. Heck I would love a satellite real estate office in one of those store fronts. Then I went through the circle and saw the cutest most distinctive cottage style homes. I was delighted to see this is a mixed use community with both townhomes, and small and large single family homes. Many of the existing homes have the garages in the rear and front porches looking out over the sidewalks. The community reminded me of Reid's Prospect in Lake Ridge Virginia and a little like Port Potomac in Woodbridge Virginia. Except the difference here is the quaint cottage style homes and the way the builders have purposely made cul-de-sac and boulevard streets. It really adds to the small town feel.

 

 

 

The Ryan Homes Model Home is on the right across from the town square. Treat yourself...you will be pleasantly surprised. The home prices currently in February 2012 start under $320,000 and the average sales price for a three finished level home, with coffer-ed ceilings, a morning room, a fireplace, carriage style garage doors,hardy plank siding, cottage fronts price out under $380,000! Here is a photo to peak your interest...look at the coffer-ed ceilings and the stone fireplace! Dreamy...... 

There are three different models to choose from The Keats, The Shakespear and The Yates

                 Note: click on any of the models above to visit the Ryan Homes Website

For more information on available homes you  can call me or you can call to the sales model directly

 Patty Blackwelder -540.654.5064 ( Hours- Mon 12-6, Tues-Fri- 10-6, Sat & Sun 11 -6

For those of you reading this, who like what you see, however would like to be closer to Prince William County Virginia. I can share this with you. You can't touch a brand new single family home of this quality and size,anywhere in the Woodbridge, Lake Ridge, Dumfries or Triangle area. So if you are getting priced out of the market in Prince William County Virginia, you may find that Stafford or a community such as The Villages of Idlewild in Fredericksburg a good fit for you.

For those of you relocating to Marine Base Quantico (MBQ)  or even Fort Belvoir Virginia this community would be a wonderful fit for you. Commuting to work you can use Rt1 or I-95 North. 

 Best of all...a bus will take you to VRE Station, so you don't need a car!

Immeditate Delivery Homes in Woodbridge Virginia For Those Relocating To The Area in Spring 2012

 

For more  information about this home View Here  MLS#-PW7759944

Other immediate delivery homes for sale. View here

 

Saw this blog video from Markita Aldridge Woods and thought I would share it with you. Markita is a local Senior Loan Officer here in Lake Ridge Virginia who can answer those questions for you.

If you like working with someone that doesn't leave you hanging, someone that calls you back and takes the time to explain the loan process and all of your options,then you will like working with Markita.

 

 

It is not everyday that we see such nice homes being sold by short sale, however this one has everything are looking for and more.

It is located in Eagles Pointe between Fort Belvior and Quantico Virginia. Now, keep in mind this is a short sale and it will take a little bit of patience to get this one approved however it is a Wells Fargo Loan and that means it will take far less time than most short sales.

 

What makes this home so special?

 

• Stone Front
• Two Story Family Room
• Gourmet Kitchen
• Two Car Garage
• Three Finished Levels
• A  Level Yard!
• The price!
• For more information about this View Here
• Not sure if this is the house? Check out other short sale opportunities in Woodbridge