Lake Ridge Virginia Real Estate Help For Sellers and Buyers

That's a great question. And recently, I was one of few pprivileged REALTORS®, who were in attendance at RGS Title in Lake Ridge Virginia where a Wachovia Short Sale Manager was the guest speaker.

The gentleman was there to assist REALTORS® ,who are trying to help homeowners in the Prince William County, Virginia area who may need to sell by short sale. The meeting was very informative.

So if you need help and are facing a financial hardship, don't wait call me. "In fact I can have a Wachovia Short Sale Manager come meet with you personally to discuss your options and so you can learn personally from him what your options are." This a bank who has people in the field, on the ground ready to help you.

Do you or does anyone you know have a Wachovia Pick-A-Pay Loan ?  If so, please know that if you are falling behind or are finding it difficult to make ends meet or your loan is about to reset, their is a very good chance we can get you an determination in days note weeks or months.  

I can say from personal experience when assisting a local homeowner just recently. The Short Sale Process with Wachovia/ Wells Fargo was a very quick process. From list date to closing was less than 60 days. Read More

If you are falling behind or have suffered a hardship, don't wait. 

Let's talk about your options.

Call  703-851-3085 today or  contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,Woodbridge Virginia 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area.

Terrylynn Harrell the broker owner of Exit 1st Choice Realty treated her top producing Realtors for the month of July, to a luncheon on The Odyssey on the Potomac. Top Producing Realtors were The Blackwelder Team ,Don Rattarre, John and Valarie Meyers, Luisa Rodriques, Marjorie Chacon. Also in attendance were our broker Terrylynn Harrell, associate broker Michael Adams, co-owner Russell Dillard and several strategic partners.

Unbelievably for most of us this was our first time on The Odyssey.  What we all chuckled about at lunch is that most of us are so busy handling the tasks of everyday, we forget to take time out to enjoy the Nations Capitol and all it has to offer. I for one was so bogged down with work and was grumbling this morning I had to much to do. That sentiment was shared by Valarie Meyers as well. However, I learned a valuable lesson today. Sometimes...Realtors need to schedule time for themselves.

It was a perfect day to be on the Potomac. The weather was gorgeous, the food delicious and that band on board that ship was fabulous! 

Our broker Terrylynn always says folks "we work so that means we get to play hard!" She always has something up her sleeve. I was totally amazed recently at a office party when they broke out the Karaoke Machine! That is one thing I love about affiiating with Exit Realty, they Terrylynn goes out of her way to make sure her Realtors are happy and heading in the right direction.

Learn why both Erick Blackwelder and I switched to Exit Realty

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,Woodbridge Virginia 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's,

What a difference a new year makes! Last year and the year before trying to sell your home was a miserable experience for both the homeowner and the Realtor. Values were way down, buyers were few and far between and loans programs were scarce. However a lot has changed for the better. Lately Real Estate is beginning to feel more like a normal balanced Real Estate Market. Something we haven't experienced in a long time.

I've been making some "Happy Calls" to homeowners!     

For homeowners who have equity in their homes ( those who purchased before 2003)  things are looking up. Homes are selling, loans are being granted and real estate is moving again. Many homeowners are beginning to realize it is a very good time to sell and move-up to a larger home. Or possibly downsize or relocate. Things you could only dream about doing over the past three years are now possible. That move you want, that house you want are now within your grasp.

For example in the past 30 days:

• Calling the owners of  4106 Cardinal Drive to share with them "Their Home Appraised for $400,000!" Was a delightful call. Even with several short sales nearby priced much less, I suggested the try $399,900 since their home was so nice. The great news is the VA Appraiser agreed! We'll be heading to settlement within a two weeks!
• I was able to give the folks at 11543 HillMeade Lane the great news. When I listed the home,just half a block away there was a  foreclosure listing similar to theirs that was priced under $140,000. I suggested they list at $259,900. "Their Home Appraised for $260,000!"
• The folks at 12496 Sulky Ct were able to pack up and move to Illinois because no only did we get their price, we negotiated away closing costs because of multiple offers! The home appraised at $330,000! That home settled already.
• Thursday night I called the owner of 5155 Bobcat Ct, and told them the buyers accepted their counter! So their home went under contract in just 7 days!

In each of those examples above were in neighborhoods where short sale and foreclosure homes were all around. However I am a firm believer that as your Realtor it is my duty to try and get you the most the market will bare. Each of the homes above were in excellent condition and well maintained. We priced the homes right at market of just a tad below to generate interest. It worked! Each of these owners are thrilled with the outcome and all will be moving soon.

Here is  TFP: "Tip From Peg"

If you are a homeowner who is not fortunate enough to have equity in your home. Selling by short sale may be your answer. There is no shame in selling by short sale. We list them and sell them just like every other house. The only difference is, we need your mortgage company to approve your short sale. So whatever you do, don't sell yourself short just because you are selling by short sale!

Do you need help? Would you like to work with a positive person who will help you get your home sold.

Then give us a call. You don't just get me, Erick and Company is a family real estate team.

                              You Can Reach me direct at 703-851-3085 or  contact me by email . 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,  Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's. 

More and more these days in the Prince William County Virginia area, many homes that are truly gorgeous and renovated are not available to the first time buyer who is preapproved for an FHA Loan.

Everyday, I work with buyers who call all excited when they see a home in their price range that is perfect for them based on the photo's that they are seeing.

Then I have to drop the bombshell when they ask."Peggy, What Does NO FHA LOANS due to FHA Seasoning Mean In The Comments?"

Well, that seller cannot accept an FHA Loan. The only way you can buy that home would be to use Conventional Financing. That means you would need an additional one and half percent down payment to equal the minimum five percent down payment rule on Conventional Loans.

So let's say it was a $225,000 house x Five percent down payment= $11,250.

However FHA only requires a three and half percent down payment which = $7850.

That means you the buyer would need an additional $3400. to go to settlement.

The next question is always. Why?

Simply put. FHA has extended a ruling that allows investors who buy a foreclosed home to be able to FLIP them after the home has seasoned 90 days. This ruling is in effect until May 2010. So what that means is a person can buy a FORECLOSED HOME only, and renovate it and flip it at a higher cost. This program is in place to help revitalize neighborhoods across America and it's working. Most of these flips are stunning as seen in some of the photo's above. Now is it fair than an investor can buy a foreclosed home for cheap and fix it up and make tens of thousands of dollars in a few months? Yes...because they take the risk and they have the ability to qualify and have the vision needed to transform ugly homes into showplaces!

The good news is the these homes are MOVE-IN Ready and will require almost nothing except paint and your personal touch to make them home.

So what do you do as a Buyer to insure you can buy one of these homes:

1. Make sure your Buyers Agent know the rules and checks out everything about this home so you do not get caught up in a contract where you cannot perform.
2. Talk with your Loan Officer to see if you can qualify for a Conventional Home Loan
3. In today's market the more flexible a buyer you are, the more opportunities you will have. 
4. Do you need help finding a home?
5. Find out now what kind of home loan you qualify for GET STARTED HERE

 contact me by email 

              Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's 
      
                
                
        

Erick and Company helps home buyers find homes in and around the Lake Ridge, Woodbridge, Virginia area.

As you know there are many sites to seach homes Online, however most do not give you the information that you the buyer wants, need and demand in today's instant information world.

So check this out. This is a local MLS Search site that was desiged for buyers. The sight allows you to search by Spreadsheet, Gallery or Gallery and Photo. So no matter whether you are the analytical buyer, a buyer who is looking for a particular style or a buyer who needs to see lots of photo's you are going to love this site.

FranklyMLS.com is the site every local buyer should consider using.  Take a look at the video tutorial I did to help you understand why you would want to use FranklyMLS to search for  you new home. View Video Here.

It even offers a Cell Phone app! Just key in the address of the home you are passing driving by and walla you can instantly find out it is in your price range. 

Whether you are looking to buy or sell, I can help!

When Results Count-Count On Erick and Company

               Call Peggy James today at 703-851-3085

Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's 

That's a great question Greg, thanks for asking?  Let me share with you what I explained to Greg.

Traditionally the summer months are very slow. However this real estate market isn't like any market we've ever experienced.

In fact Chris Gordon of Channel 4 News called the other day,asking the same question, the media was working on a story, wanting to know if as a Realtor in the field, I'm seeing a shift or a change. I explained"you bet we are! The market has been trying to kick start for a few months now." So what do I think is the uunderlying reason homes are selling so fast?"

• The $8000 tax credit ends in less than 5 months!
• Interest rates have started to creep up and that changes a buyers Buying Power
• Less foreclosures are entering the market
• Buyers have become more realistic about putting in offers on Short Sale homes ( and are now willing to be patient)

Currently if you looking a home priced under $500,000 in Prince William County chances are very good you will be amoung many competing for the same home. Gone are the days when you would see a home on line, call a Realtor, go look at the house, wait a few days to "think about it" and then write a contract. If a buyer attempts that in today's market you will be a day late and a $ short every time.  I wish I had better news especially if you've been sitting waiting to buy. As a Realtors it is ourmake the market, it's is our job to coach you on your options, and help you find a home that will meet your wants,needs and desires within your budget

Call me or email me and all of us at Erick and Company will help you get the home you've been dreaming of. Remember, you have until November 30th, 2009 to qualify for the $8000 Home Buyer Credit. What are you waiting for time is running out.

If you are a homeowner, now is a great time to think about selling. Actually if you do not have to rely on a bank for short sale approval, you may find yourself in a very good situation. Give me a call and let's see what's possible. I think you might be surprised at your options!

Call Peggy James today at 703-851-3085

or contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's 

                                                  Erick and Company 

               Has Listed This Short Sale In Woodbridge VA
                             

Click here to view MLS Listing 

To Learn More about this home and the area Read More Here 

As of 6/17/09  The backup offer withdrew! We are now excepting a backup offer on this beautiful home.

List Price is $320,000 

*******************************************************

Chevy Chase Mortgage (1st Trust) 

Suntrust Mortgage (2nd Trust)

If you would like to submit an offer on this home contact me or contact your Buyers Agent. We will need the following to present to the seller. 

• Note-the process can take as long as 60 days or longer for answer, this is a two loan short sale.
• We will need a signed Contract with Lender Letter and Earnest Money Deposit.
• This home is being sold "AS IS" please use the Short Sale Contingency Addendum.     
• Seller prefers RGS Title -Lake Ridge Office to be used ( they have the file already) 

Homeowners: if you think you need to sell your home by short sale, please don't hesitate to call. Erick and Company has systems and staff to get help you deal with your bank.

Yesterday I spend quite a bit of time running  a Comparative Market Anaylsis for a Bank Owned Home one of my clients was interested in. I prepared the offer per her request and sent it by email. We were scheduled to go over the offer mid day.

Later in the day the client calls to say " I was so excited about  buying this house I shared the news with a few friends and one of them said."Dale City Virginia? Are you sure ? There has to better choices than that?" Have you really thought about this?

Mind you the home of interest is exactly what my client wants.  A single family fixer upper with great potential, a big fenced  yard, a garage and it has four bedrooms and more than 2500 square feet for the bargain basement price of $140,000 in a Dale City  Virginia Neighborhood that is within walking distance to shoppings, fast foods etc. Even better it  is an outstanding opportunity for the buyer who has vision. At one point this home was sold for $400,000 back in 2005. Now it is being offered to the market as a REO ( real estate owned ) property. All it really needs is some updating to make it a showplace. Other homes around it are in very good shape and appeared to be well cared for.

This is a perfect example of what happens when friends, family and co-workers get involved in your home buying decisions.  They mean well, and don't want to see you make a mistake. Listen with your head not your heart, don't take their criticism personal. Ask yourself these questions?

• Are they saying this because they can afford much more of a home?
• Does this home fit in your pre-approved budget?
• Does the home match your needs, wants and desires?
• Can you see yourself in that home?
• Can you afford better? If not you may have answered your own question
• If you wait, will you miss your golden opportunity?
• When you look back  a year from now. Do you think you will say " I should have bought that house!"

It's a this point I always suggest  a client take two aspirin and  sleep on it.

 Then in the morning ask yourself - What Do You Want?

Buying a home is a process. It is a huge investment and most likely the largest purchase you will ever make. Be sure, ask questions, hire a experienced Woodbridge Area Realtor to assist you and only make an offer on a house that you know you  can handle, that will work for your family.

Is the process scary? You bet it is! If you weren't scared, then I would think you haven't thought it through enough. The fact that it is  scary is just one part of the process, it's also exciting to think you can soon own the house that you've been dreaming about. Foreclosure opportunities are everywhere in the Woodbridge, Dale City and Manassas area's. With the new tax incentive for buyers this spring market is going to be fast paced. Don't get left sitting on the sidelines saying I should have, I wish I could have. Now's the time to buy.

If you need help finding a home in the Woodbridge,Lake Ridge, Manassas Virginiaarea. I work as a Buyers Agent to assist you in finding the home of your dreams. All you need to do to get started is get pre-approved. How do you do that? It's simple, just contact one of these lenders.

When your ready, give me a call. I'll be glad to assist you.

I'm Only A Phone Call Away 703-851-3085    

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty,14029 Crossing Way, Woodbridge VA 22192.VA. Realtors®, call 703-851-3085(Peggy) or 703-590-2252(Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's

Learn more about me Google Peggy James of Erick and Company Woodbridge VA

 Westridge Homeowners should feel blessed that we all live in such a beautiful community. The streets are clean, the common grounds well kept, we have our own elementry school, a private lake setting, five miles of running trails and the Home Owners Assocaition is fast at work updating our pool decks for the upcoming summer season. If you live in Westridge, surely you have noticed all the activity around the Lake. If not, it's impressive to see the contractor's floating on a row boat under the pool deck in icy conditions. One wrong move and they are in the water for sure. Better them than me!

Currently there are two homes on Darnley Rd that are Under Contract. One is a Bank Foreclosure Home with an unfinished basement and the other is a very sought Fairfield Built Hampton model with a full wrap around porch. I am proud to say, I was the Realtor who introduced the buyer to that home. Soon we will have new neighbors on Darnley. 

Did you know there are two vacant lots at the end of Knightsbridge for sale. They are actually part of the Reid's Prospect Project. The homes will be price at over $700,000 when they are completed. If anyone is looking to remain in Westridge, however wants a move up home, call me, let me show how I can help you do that. You will be amazed!  I have a tour of Westridge online take a look.

Here are the STATS for home sales in Westridge Since Last Summer.  

When it's time to Buy or Sell in Westridge, give me a call. I live here and work here. Erick and Company has been helping sellers everyday with selling homes in the area. We've had some amazing successes in this strange real estate market we've been in. Here are some of the success stories that we're proud of. No matter what your reason is for selling we can help. Myabe your loan is about to reset to a un affordalble rate and you need to do a Short Sale, or your ready to retire, or the kids are gone and it's time to downsize. Regardless of the situation, Erick and Company can get your home sold.

Got a question? Just type out a comment I'll be right with you....

      my cell 703-851-3085

Contact Peggy James or Erick Blackwelder of Erick and Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's

Renter's Beware

In the past month we've received many calls from tenants who are being displaced from their rental homes here in the Prince William County area. It's a trend that is not  likley to end soon. Folks...this is happening everyday. "Unsuspecting renters are becoming the latest victims in the current economy."

When you are relocating to the Northern Virginia or Prince William County be careful.

Homeowners who cannot sell or who own more than one home, are being squeezed by this economy in ways they never dreamed. They rent their homes on the Internet and put tenants in place and then when the going get tough, it's the Leased Home that goes up for Short Sale or worse is Foreclosed. So that means you will be moving again. This is unfair and it's happening everyday.

Here at Erick and Company in Woodbridge Virginia, we get calls weekly from renters who are just in shock. This is a difficult situation and puts you the tenant at a disadvantage. Many of the calls we've received and the situations we've helped resolve, are mostly people who relcoated to this area in the past six months to a year. Just this month I met three families who moved in set up house and home and started their jobs and the earth fell out below their feet. The stress toll, the moving the children out of school, the financial burden is truly a hardship. And this is just wrong!!!

So how do you the tenant protect yourself?

Ask lots of questions:

• Check to see if the rental price is the same compared with others in the community    
• If the rent is signifigantly lower, that's the first Red Flag.
• Is the home in good repair?
• Does the lease say you are paying for all repairs?  Red Flag
• Are you having to pay the HOA Dues..Red Flag!
• Ask the seller what his mortgage payment is ( if it's higher than the rent-be careful)
• Ask the Landlord if he is current on his mortgage?
• Request to see a copy of the Mortgage Statement if the Homeowner says no-Red Flag
• Request to have a clause added to the Lease that protects you in the case of a short sale situation
• Consult the Virginia Landlord Tenant Act for more information
• Folks this is new territory for everyone involved...including Real Estate Professionals. At Erick and Company we're been assisting folks with their real estate needs for seventeen years in this area and never have w seen anything like this.

Currently the safest place to rent is an apartment complex. Here is a list of Lake Ridge Virginia Apartment Rental Complexes. If that's not possible because you have several pets and you need to rent because of your current situation, then be careful. Ask questions, get a professional to help you, protect yourself as much as possible.

This will continue because the root of the problem is, home prices have dropped so low that homeowners who have lost jobs, received a transfer or who's mortgage interest rate has adjusted cannot sell for what they owe. Which just makes for more Short Sale and Foreclosures. On the flip side if you do not want to even take a chance of this happening to your family consider your choices.The next thing would be to consider buying one of the many availble on the market today.  Snap up one of the homes and sleep peacefully at night or put most of your belongings in storage and rent an apartment until this all blows over. 

 To find out what homes are For Sale in the Lake Ridge area right now read more... 

• Do you need help?
• Do you have questions?
• Has this happened to you?

Please share your story on this blog post comment below.  Or call me direct at 703-851-3085

 Erick Blackwelder or Peggy James  of Erick And Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.