This is where you will get some of the most recent Real Estate news pertinent to both buyers and sellers for Virginia area and in particular Loudoun County.
Operating as usual
varealtor.com Year over year home sales in Virginia increased 8% in August 2010 to 7,779 units sold, as compared to only 7,210 sales in August 2010. This increase is a welcome sign in Virginia after recent declines in the pace of home sales.
Navy Federal offers $2,500 towards Closing Cost
navyfederal.org Serving veteran mortgage loans and military mortgage loans. Great rates available for all military personnel.
[07/25/11] From September 30th 2011, Loan limits for Conventional and FHA loans will be reduced to $625,000 from $729,000.
washingtonexaminer.com The Washington area's home prices in May outperformed the rest of the nation by leaps and bounds -- again -- while other markets continue to double dip, a new report says.
Very interesting report on existing home sales for February 2011
link.brightcove.com NAR Chief Economist Lawrence Yun talks about February 2011 existing-home sales, which are down from the previous month, in his national press conference on March 21, 2011.
FHA RULES CHANGE AGAIN
The Annual Mortgage Insurance Premiums is increasing for loans on or after April 18, 2011.
The impact (for a FHA down payment 3.5%):
Monthly payment increase = (SALES PRICE) x 2.01 x 10-4
e.g. $250,000 sale price
250,000 x 2.01 x 10-4 = 50.25
The monthly payment will increase by $50.25.
If you are thinking of buying soon, do it now and lock your loan before April 18, 2011.
houselogic.com Don’t rouse the IRS or pay more taxes than necessary—know the score on each home tax deduction and credit.
Although prices are creeping up!
realtor.org Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®.
FHA Minimum Credit Score Reduced!
Prosperity Mortgage, an affiliate of Wells Fargo Bank has announced that Wells Fargo is the first and currently the only to offer loans to selected individuals with credit scores as low as 500 effective January 15, 2011. Only individuals who can show recent track record of rebuilding their credit are considered.
Contact Terrence at 703-433-0770 for more information.
[12/16/10] Mortgage interest rates up today to 5% from about a month age when you could have gotten 4%, just another sign of recovery.
The market is rebounding slowly but surely.
link.brightcove.com NAR's forward-looking Pending Home Sales Index showed a strong 10.4 percent monthly gain in October, 2010.
September Existing-Home Sales Show Another Strong Gain
realtor.org Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.
September Bank Foreclosures Reach New Record
abcnews.go.com The nation's foreclosure epidemic gathered steam in September, with banks taking over more than 100,000 properties for the first time. Overall, filings rose 3 percent, according to RealtyTrac, an online service that tracks foreclosure rates.
Search for homes on your iPhone/iPad with my new App! Download: http://itunes.apple.com/us/app/long-foster-real-estate/id385133350?mt=8 And Enter Access Code: 222
itunes.apple.com Learn more, read reviews, and download Long & Foster Real Estate by Hillside Software, Inc on the iTunes App Store.
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