Lake Ridge Virginia Real Estate Help For Sellers and Buyers

It's time to stop looking at homes! Why, because it is a huge waste of your time....

1. When your significant other trusts you enough to narrow the search.
2. When they clear their schedule to go see the top contenders.
3. When you have a list of their wants and needs and things they are willing to compromise on for the right house.
4. When your signifigant other is interested and invested in the process.

A week and a half ago, I received a call from a homeowner who said they were ready to hire me to list their townhome and buy a larger single family home.  So I met with them, listed their home and put it on the market on  June 10th .

I immediately launched their marketing plan and sent the family and email to expect traffic over the weekend  along with the links and information below. 

• Your Website:http://3388vinelandplace.canbyours.com/
• Your home is on my real estate blog "Just Listed in Princeton Woods"
• Your home is Featured on the front page of Erick and Company
• Your home is in MLS
• Your home is posted on Craigslist
• Another posting on Craigslist stating Seller Willing To Accept a VA Zero Down Offer
• This is how your home looks in FranklyMLS-View Here
• Also this is your text code on you cell phone Text To: 79564 then type 146367 you will get an automatic response.

What a difference a week makes! Not only is their townhome in Princeton Woods under contract, they put an offer on a move-up home in Newport Estates and they will soon be moving!

Look what the homeowner has to say:

 Peggy and Erick,

We appreciate all you have done in guiding us through the process of buying and selling!  You have gone above and beyond to make sure we have our dream house and although the actual sale and purchase has gone quickly this has actually been something we have been planning for a long time. We are thrilled and a bit overwhelmed all at the same time :)

Other Related Posts:

How To Buy a Move-up Home and Coordinate Everything

Lake Ridge Couple Sells Townhome and Buys Their Move-up Home

Check out the latest Market Report Video's

Find Out What Your Home is Worth Today-Ask Peggy

"We Know Woodbridge Virginia and surrounding area's! Do You Need Help?  "  

  Have a question? Let's talk contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder  of Erick and Company  ofExit 1st Choice Realty, WoodbridgeVA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).Give us a call and we can "GET YOUR HOME SOLD FAST"to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's . 

Are you ready to learn about what other local townhouse owners in Lake Ridge Virginia are doing to take advantage of today's real estate market conditions? Let's get started..

This past weekend, I hosted an open house on a starter single family home in Lake Ridge Virginia.

First off the Open House I hosted was amazing! Over twelve sets of visitors came to see the home. In answering questions for visitors, I was pleased to learn so many Lake Ridge Virginia townhome buyers were out looking at what the local real estate market has to offer.

Many townhome owners in Lake Ridge Virginia who have owned for quite sometime are learning they can rent their homes for a positive cash flow and then buy that move up home. In fact,I met three prospective purchasers who are thinking about doing just that.

So let's talk about that. In the old days ( less than five  years ago) as long as you got a bon-a-fide signed lease prior to settlement that covered your mortgage payment monthly you could buy the move-up home. 

Now-a-days it is not quite that easy. In our current economic times, lending restrictions are so tight, the rule is; you must be able to qualify with both the townhome mortgage payment as well as the move-up home purchase. For prospective buyers who do not have the income power to qualify for both, that means they must sell the townhome prior to settlement of the move-up home. ( an experienced local Realtor can help you coordinate all of this)

For those of you who have a good income and can carry both payments in the eyes of the lender are in the winner seat.

Why?

• You get to make offers on the best homes on the market!
• You can write a non-contingent  offer with confidence!
• Sellers love non-contingent buyers who are flexible.
• Bottom line- Your in the perfect position to snag what you want!

Let e give you an example of a worst case scenario: The other day, a home came on the market in Westridge Subdivision. It was stunning. Take a look! The only challenge is the seller did not want to move until August 2011!  Our buyer client loved the house however because they need to sell their home before they buy, they could not make an offer. The reality is another Flexible Home Buyer snagged this stunning home in 3 days!

Another example: I was out with one of my "Flexible Home Buyers"over the weekend. An outstanding home in a sub-division on a cul-de-sac lot presented itself on the market.  Our "Flexible Home Buyer" was able to write an acceptable offer for the seller on a short sale home. Patience is needed when purchasing a short sale and not all home-buyers can wait for the seller to get short sale approval from their mortgage company. Can you? If you can just know that we will immediately put your home up FOR RENT as soon as your mortgage processing time starts. In the case of the  "Flexible Home Buyers" I am currently working with,they will have a $500 positive cash flow to help them offset the new mortgage payment on the larger move-up home.

It is a win,win!

Do you need help or have questions about how to do this. Simply Contact Me or call 703-851-3085.

The quick answer is  "you may be able to rent your home, if you have enough equity. "

How much is enough? According to the lenders I've spoken with, the guidelines state 25% equity. 

So if you have a home and you've owned for quite some time and you have a good amount of equity your chances of renting are very good. The rental market is doing quite well in the Woodbridge, Lake Ridge, Manassas Virginia area.

Just imagine the possibilities! You could go from this starter home to your dream home!

 The rest of you may be asking why are the guidelines so strict?

The guidelines were put into place by Fannie Mae, Freddie Mac and Ginnie Mae to prevent people from purchasing a new primary residence and then walking away from their current home. In fact I just read a very good article on the subject and the term used to explain this was called Buy and Bail.

Click here to read more Buy and Bail 

The only way I know in the current economy that homeowners are able to take advantage of the move-up homes that are available is if you can qualify to carry both payments. Granted you would be getting rent money however the lender must be able to prove you can carry both the new payment and the old payment without benefit of a lease.

                   Don't hesitate to give Erick and Company a call to discuss all your options.

703-851-3085

     or contact me by email  

Would you like to search for homes in your price range right now in the Woodbridge, Lake Ridge, Manassas Virginia area? Just follow this link  SEARCH WOODBRIDGE AREA HOMES NOW.

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 

Note: Loan Officers feel free to comment below. The more information we can get homeowners on this subject the better. Have a super day!