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.
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Do you need help? Have a question?
Just ask me peggy@erickandcompany.com
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Contact Peggy James or Erick Blackwelder of Erick and Company of Exit Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy) 703-590-2252 (Office).Give us a call and we can "GET YOUR HOME SOLD FAST"to list your property for sale we service Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas,Gainesville, Garrisonville and Triangle area's.Basically all of Prince William County Virginia. Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City.
What a great house!
Some body will be calling this place home soon
Lew MacDonald
~if it's to be, it's up to me~ Brian Tracy
This looks like a fantastic house - I'm sure someone will be snagging it off your hands!
This looks like a fantastic house - I doubt it will last very long on the market!