For homes for sale in Northern Virginia visit http://www.chriscolgan.com/
Chris Colgan
Remax Regency
Wednesday, September 29, 2010
Spelling Mansion for sale. Most expensive home for sale in the US
According to Zillow.com the home of Candy Spelling wife of late TV producer super man Aaron Spelling has listed her Los Angeles CA Mansion for sale for $150,000,000. The Spellings purchased the home from Bing Crosby.
For homes for sale in Northern Virginia visit http://www.chriscolgan.com/
Chris Colgan
Remax Regency
For homes for sale in Northern Virginia visit http://www.chriscolgan.com/
Chris Colgan
Remax Regency
Monday, September 27, 2010
Short sale in front royal Va
| Offered at $200,000 112 Foxridge Ln Front Royal, VA
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Just reduced - 10460 TENTH ALABAMA WAY, Bristow VA
| Offered at $285,000 10460 TENTH ALABAMA WAY Bristow, VA
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Just listed in Independence Manassas VA 20109
| Offered at $261,000 12002 Sorrel River Way Manassas, VA
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Saturday, September 25, 2010
7355 Forrester Ln, Manassas VA (MLS #PW7390492) For Sale
| Offered at $264,000 7355 Forrester Ln Manassas, VA
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Friday, September 24, 2010
Olsen Twins finally get rid of their New York property
According to http://www.ny.curbed.com/ the Olsen Twins from "Full House" fame have sold their 5700 sq foot penthouse. The property was listed for $8,450,000. The home had 12 rooms including 5 bedrooms and 4.5 bathrooms. The home was started at $11.995 million and finally sold for $8.45 million.
Real Housewives of DC's star selling home.
The real estate stalker, reported that Mary Schmidt Amons from "Real Housewives of DC" Mclean, Va home is for sale. The home has 5500 finished square feet. It is 6 bedrooms and 5.5 baths. The property was built in 1939.
For more homes in the Mclean, Virginia are for sale click here.
Chris Colgan
Re/Max Regency
Home is listed with Steve Wydler - Long and Foster real estate
Successful Home Selling Guide
When your goal is to sell your home hassle-free, there is one sure way to make that happen. Believe it or not, the only thing that you need to do is to understand how the selling process works. When you have this information, you know what to expect and when to expect it! There’s nothing worse than being surprised by part of the home-selling process while you’re mid-stream. Making a mistake along the way could cost you a lot! Here you’ll learn about the step-by-step journey through the home-selling process.
The Decision
You will face several decisions during the sale process. However, there is one critical decision upon which everything else depends. That decision is whether to sell in the first place. Often home owners have no other option when faced with a cross-country relocation due to a career change or a new addition to the family. However, unless you are facing one of these situations, the choice to sell your home is generally just that – a choice.
Think carefully about selling your home before making a final decision. Do you have a clear idea of where you will live once the home sells? Perhaps your children have grown and you no longer need a large home. Or perhaps you have decided to marry your long-time sweetheart and you can no longer stay in that tiny bungalow. Either way, there will be many things to consider before you can be sure that selling your home is the best solution.
Once you have made the decision to sell, it’s time to move to the next step in the process.
Preparation
Long before the “for sale” sign is erected on your lawn, you will need to begin preparing your home for sale. Start with a complete top-to-bottom inspection of the home. Remove any unnecessary clutter from the home, so that you are able to see what has been behind those piles for so many years! Of course, disposing of unnecessary items will make the moving process much easier on everyone. Once you have cleared out those items that you do not intend to keep, it’s time to start looking over what is left.
In general, potential buyers are more attracted to homes that allow them to visualize. Specifically, they want to visualize their family sitting around the dinner table, and they want to visualize their belongings where yours are now. The less cluttered your home is, the easier it will be for buyers to do this sort of visualization.
You’ve probably come to the realization that you will need to remove even some of the things that you want to keep. You can move extra furniture into the garage, or consider temporarily renting a storage space while your home is for sale.
You will probably be overwhelmed by how spacious your home has suddenly become, and you will probably also begin to notice its signs of age. A fresh coat of paint and professional carpet cleaning will definitely improve the look of your home. Since the rooms are now much less crowded, now is the perfect time!
Finally, remove as much of your home’s personalization as possible. For example, replace your family photo over the mantle with a large mirror or painting. Take down your gallery of family photos, leaving this area open for the potential buyers’ imagination.
It is wise to work with an agent who wants to list your home according to its market value, rather than with one who wants to put the highest price tag on the home...
Once you’ve finished with the interior of your home, move to the exterior and focus on curb-appeal! You need to make sure that the photos appearing in real estate listings make your home look as appealing as possible. Make sure that your lawn is in good condition, free from bare or brown spots. Planting grass seed is simple and can make a huge difference in the appearance of your lawn. Next, make sure that your shrubs are neatly trimmed to show potential buyers that you have cared for your landscape. Keep the lawn free of toys, bikes and other items that can make it appear cluttered. Finally, make your porches, decks and patios inviting! Consider buying new cushions for your patio furniture. Add a few large flowerpots filled with bright, seasonal flowers and make sure that the surfaces are clean and clear of clutter.
Once you have prepared your home for sale, you are ready to begin speaking with listing agents.
The Realtor
There is a saying among real estate agents that being number three is lucky. The truth in this statement applies when you are interviewing potential agents to sell your home. Although you may actually end up working with the first agent you speak with, you should definitely speak with more than one candidate.
When you speak with a potential real estate agent, ask him or her about the type of listing contract that you will be expected to sign, the agent’s philosophy on listing prices, and how your home will be marketed to other agents and potential buyers. These three pieces of information are all critical. If an agent is unwilling to discuss these topics, then he or she probably isn’t your best partner in the sale process.
Avoid selecting an agent based up his or her estimate of your home’s value. Going with the agent who will list your home at the highest possible price may seem like an attractive strategy, but later you may come to learn that your home is overpriced and that no one is looking at it.
Once you have selected an agent with whom you are comfortable working, it’s time to set the price!
The Price
As mentioned earlier, it is wise to work with an agent who wants to list your home according to its market value, rather than with one who wants to put the highest price tag on the home. While the allure of extra profit may be enticing, keep in mind that overpriced homes stay on the market longer and their ongoing selling costs end up eating away at your profits.
Overpricing and under-pricing can be avoided when you have done your research and made it clear to the listing agent that you have a good estimate of what the home is truly worth. So how do you go about determining that price?
Ask the agents whom you are interviewing for a CMA (competitive market analysis), which will allow you to see the listing and selling prices of recently sold homes in your area, as well as the listing prices and length of time for sale of other homes in the area. If you find that homes with a similar size and features are selling for $500,000 in your neighborhood, a price of $490,000 will get the home sold in a hurry and a price of $550,000 will definitely draw potential buyers. However, a listing price of $800,000 will aggravate buyers’ agents and discourage people from looking at your home at all.
Now you have a good idea of how price affects the length of time for sale and why correct pricing is critical.
Overview
Not paying attention to these four areas of home spelling can be a recipe for disaster. In order to successfully sell your home, you definitely need to be prepared with a ready-for-sale home, a great realtor, a good idea of your home’s value, and the right price. If all of these factors receive adequate consideration, it is almost guaranteed that your home will sell quickly and with as little hassle as possible.
For more information visit http://www.chriscolgan.com/
Chris Colgan
Re/Max Regency
703-485-1435
The Decision
You will face several decisions during the sale process. However, there is one critical decision upon which everything else depends. That decision is whether to sell in the first place. Often home owners have no other option when faced with a cross-country relocation due to a career change or a new addition to the family. However, unless you are facing one of these situations, the choice to sell your home is generally just that – a choice.
Think carefully about selling your home before making a final decision. Do you have a clear idea of where you will live once the home sells? Perhaps your children have grown and you no longer need a large home. Or perhaps you have decided to marry your long-time sweetheart and you can no longer stay in that tiny bungalow. Either way, there will be many things to consider before you can be sure that selling your home is the best solution.
Once you have made the decision to sell, it’s time to move to the next step in the process.
Preparation
Long before the “for sale” sign is erected on your lawn, you will need to begin preparing your home for sale. Start with a complete top-to-bottom inspection of the home. Remove any unnecessary clutter from the home, so that you are able to see what has been behind those piles for so many years! Of course, disposing of unnecessary items will make the moving process much easier on everyone. Once you have cleared out those items that you do not intend to keep, it’s time to start looking over what is left.
In general, potential buyers are more attracted to homes that allow them to visualize. Specifically, they want to visualize their family sitting around the dinner table, and they want to visualize their belongings where yours are now. The less cluttered your home is, the easier it will be for buyers to do this sort of visualization.
You’ve probably come to the realization that you will need to remove even some of the things that you want to keep. You can move extra furniture into the garage, or consider temporarily renting a storage space while your home is for sale.
You will probably be overwhelmed by how spacious your home has suddenly become, and you will probably also begin to notice its signs of age. A fresh coat of paint and professional carpet cleaning will definitely improve the look of your home. Since the rooms are now much less crowded, now is the perfect time!
Finally, remove as much of your home’s personalization as possible. For example, replace your family photo over the mantle with a large mirror or painting. Take down your gallery of family photos, leaving this area open for the potential buyers’ imagination.
It is wise to work with an agent who wants to list your home according to its market value, rather than with one who wants to put the highest price tag on the home...
Once you’ve finished with the interior of your home, move to the exterior and focus on curb-appeal! You need to make sure that the photos appearing in real estate listings make your home look as appealing as possible. Make sure that your lawn is in good condition, free from bare or brown spots. Planting grass seed is simple and can make a huge difference in the appearance of your lawn. Next, make sure that your shrubs are neatly trimmed to show potential buyers that you have cared for your landscape. Keep the lawn free of toys, bikes and other items that can make it appear cluttered. Finally, make your porches, decks and patios inviting! Consider buying new cushions for your patio furniture. Add a few large flowerpots filled with bright, seasonal flowers and make sure that the surfaces are clean and clear of clutter.
Once you have prepared your home for sale, you are ready to begin speaking with listing agents.
The Realtor
There is a saying among real estate agents that being number three is lucky. The truth in this statement applies when you are interviewing potential agents to sell your home. Although you may actually end up working with the first agent you speak with, you should definitely speak with more than one candidate.
When you speak with a potential real estate agent, ask him or her about the type of listing contract that you will be expected to sign, the agent’s philosophy on listing prices, and how your home will be marketed to other agents and potential buyers. These three pieces of information are all critical. If an agent is unwilling to discuss these topics, then he or she probably isn’t your best partner in the sale process.
Avoid selecting an agent based up his or her estimate of your home’s value. Going with the agent who will list your home at the highest possible price may seem like an attractive strategy, but later you may come to learn that your home is overpriced and that no one is looking at it.
Once you have selected an agent with whom you are comfortable working, it’s time to set the price!
The Price
As mentioned earlier, it is wise to work with an agent who wants to list your home according to its market value, rather than with one who wants to put the highest price tag on the home. While the allure of extra profit may be enticing, keep in mind that overpriced homes stay on the market longer and their ongoing selling costs end up eating away at your profits.
Overpricing and under-pricing can be avoided when you have done your research and made it clear to the listing agent that you have a good estimate of what the home is truly worth. So how do you go about determining that price?
Ask the agents whom you are interviewing for a CMA (competitive market analysis), which will allow you to see the listing and selling prices of recently sold homes in your area, as well as the listing prices and length of time for sale of other homes in the area. If you find that homes with a similar size and features are selling for $500,000 in your neighborhood, a price of $490,000 will get the home sold in a hurry and a price of $550,000 will definitely draw potential buyers. However, a listing price of $800,000 will aggravate buyers’ agents and discourage people from looking at your home at all.
Now you have a good idea of how price affects the length of time for sale and why correct pricing is critical.
Overview
Not paying attention to these four areas of home spelling can be a recipe for disaster. In order to successfully sell your home, you definitely need to be prepared with a ready-for-sale home, a great realtor, a good idea of your home’s value, and the right price. If all of these factors receive adequate consideration, it is almost guaranteed that your home will sell quickly and with as little hassle as possible.
For more information visit http://www.chriscolgan.com/
Chris Colgan
Re/Max Regency
703-485-1435
Fire Destroys homes in Manassas. Sumner lake community
A fire started on Tillet loop in Manassas yesterday. Wind gust pushed the flames onto other homes around the block. Three homes have been destroyed. For more information click here
How to Haggle When Buying a New Home
In today’s busy world, most people are not willing to haggle over prices. Automobile manufacturers are rising to the challenge by offering no-haggle pricing on their mid-range products. “Give the consumer the ability to make a large purchase simply, and you both walk away happy” seems to be the attitude that the auto industry is adopting.
Considering that a car dealership was one of the last places where a buyer could haggle over pricing and features, people are losing the ability to haggle - period.
What does this mean in the world of real estate? Well, quite simply, it means that today’s buyers are less skilled at haggling than earlier generations were, and therefore most sellers can count on getting at least their asking price.
This is, of course, an assumption.
Homebuyers with good haggling skills are not afraid to take a risk. They know that, in order to haggle effectively, it is sometimes necessary to walk away. They may walk away forever, or they may decide to come back and try it again within a few weeks, months, or even years.
Years of experience have shown that homebuyers who haggle are often the happiest buyers on the day of closing, because they feel that they have accomplished their goal of purchasing the home they wanted for the price they wanted to pay.
Consider Using a Buyer’s Broker, but Rely Upon Your Own Haggling Skills
Buyer’s brokers have become increasingly popular throughout the country in recent years. A buyer’s broker works specifically for the buyer, is paid by the buyer, and represents the buyer’s interests. A buyer’s broker depends on commission payments in order to earn income, and since the broker is also protecting his or her own interests, the buyer must know how to haggle.
Never Tell Anyone the Maximum Amount that You are Willing to Pay
When you make an offer of $100,000, but tell your agent that you are willing to pay $140,000… guess how much you are probably going to pay? That’s right – the higher amount. When you tell your agent the maximum amount that you are willing to pay for a home, he or she is obliged to pass that information along to the seller. Therefore, an intelligent seller will not accept anything less than your maximum amount.
Research the Seller
Whenever you enter into any negotiations, it is a good idea to know who you are up against. This is particularly true when you are buying a home. Talk to your agent to see what information he or she might have about the seller, especially if the home is being sold during a divorce or as part of an estate settlement. Your agent may have crucial information to offer.
When you are viewing a home, search for clues about the sellers. If the home is cluttered and messy, look for the reason. It could be that the family has outgrown the home, or it could be that the owners are in the middle of a divorce. If the home is not occupied, find out how long it has been empty. Did the owners already relocate, buy another home, or die?
All of these pieces of information about the seller can be used to help you in the haggling process.
...buyers are encouraged to meet with the seller at least once. This lets you make a positive impression on the seller. Sellers who meet the person or family who will eventually live in their home are often willing to accept lower offers than those who do not...
Find Out How Long the Home has Been Listed for Sale
This is an important question to ask every time you view a potential home. If the home is newly listed, you should know in advance that you will probably need to offer a price near the listing price. However, if the home has been for sale for a year or more, there is a good chance that a lower offer will suffice.
Homes that have been on the market for an extended period of time are often perfect for bargain hunters, because sellers don’t want their homes to be for sale forever. When beginning your home search, pay attention to homes that have been for sale for some time.
Arrange a Meeting With the Seller
If at all possible, buyers are encouraged to meet with the seller at least once. This lets you make a positive impression on the seller. Sellers who meet the person or family who will eventually live in their home are often willing to accept lower offers than those who do not. This is because the process of haggling becomes personal when you put a face with the name. Usually you will not need to do any direct haggling with the seller, because negotiations are part of what your agent or buyer’s broker will do for you.
Ask Your Agent for a List of Comparable Homes
Comparable homes are homes that are similar in value to those that sold in the area where you plan to buy. Having a list of the selling prices for these homes will allow you to determine whether the seller is asking for a fair price for the home.
You can use this information to your advantage during negotiations, particularly when you are formulating the first offer.
Offer a Reasonable Price to the Seller
Some sellers expect buyers to bid at least 5-10% under the listing price of the home. In some cases, the seller will immediately accept an offer in that range. However, other sellers are insulted if they receive an offer of anything less than the listing price.
It is best to begin with a low-end offer, because you can always increase the amount of the offer, but you can almost never decrease it.
Don’t Rush to Adjust Your Offer
If your first offer is rejected, or if you receive a counter-offer from the seller, it is best to wait several days before responding to the seller with more than a “thank you for considering my offer.”
Make the seller believe that you are not going to make another offer. Then, when you do decide to make another offer, the seller will be pleasantly surprised and more willing to consider it.
Look for Alternative Compensation
Some sellers may be willing to include items with the sale of their home when a fair offer has been made. By adding a few thousand dollars to your initial offer, you may be able to request that the seller leave behind the appliances, or you may be able to get the benefits of a pre-paid pool-service contract. Many forms of alternative compensation are available. If you are willing to pay more for a home when it comes with some amenities, then haggling is the right option for you.
Negotiation is not a lost art, but in our busy world people just don’t have the time needed to learn how to haggle effectively.
Your realtor should be happy to assist you in learning about the negotiation process. Years of experience have taught realtors beneficial and effective bargaining methods.
The key to negotiation is being willing to walk away should your efforts prove ineffective. When you realize this fact ahead of time, you stand a far better chance of being successful in your negotiations and achieving a favorable outcome for both you and the seller
Chris Colgan
Remax Regency
http://www.chriscolgan.com/
703-485-1435
Chris@ChrisColgan.com
Search the MLS for Free
Considering that a car dealership was one of the last places where a buyer could haggle over pricing and features, people are losing the ability to haggle - period.
What does this mean in the world of real estate? Well, quite simply, it means that today’s buyers are less skilled at haggling than earlier generations were, and therefore most sellers can count on getting at least their asking price.
This is, of course, an assumption.
Homebuyers with good haggling skills are not afraid to take a risk. They know that, in order to haggle effectively, it is sometimes necessary to walk away. They may walk away forever, or they may decide to come back and try it again within a few weeks, months, or even years.
Years of experience have shown that homebuyers who haggle are often the happiest buyers on the day of closing, because they feel that they have accomplished their goal of purchasing the home they wanted for the price they wanted to pay.
Consider Using a Buyer’s Broker, but Rely Upon Your Own Haggling Skills
Buyer’s brokers have become increasingly popular throughout the country in recent years. A buyer’s broker works specifically for the buyer, is paid by the buyer, and represents the buyer’s interests. A buyer’s broker depends on commission payments in order to earn income, and since the broker is also protecting his or her own interests, the buyer must know how to haggle.
Never Tell Anyone the Maximum Amount that You are Willing to Pay
When you make an offer of $100,000, but tell your agent that you are willing to pay $140,000… guess how much you are probably going to pay? That’s right – the higher amount. When you tell your agent the maximum amount that you are willing to pay for a home, he or she is obliged to pass that information along to the seller. Therefore, an intelligent seller will not accept anything less than your maximum amount.
Research the Seller
Whenever you enter into any negotiations, it is a good idea to know who you are up against. This is particularly true when you are buying a home. Talk to your agent to see what information he or she might have about the seller, especially if the home is being sold during a divorce or as part of an estate settlement. Your agent may have crucial information to offer.
When you are viewing a home, search for clues about the sellers. If the home is cluttered and messy, look for the reason. It could be that the family has outgrown the home, or it could be that the owners are in the middle of a divorce. If the home is not occupied, find out how long it has been empty. Did the owners already relocate, buy another home, or die?
All of these pieces of information about the seller can be used to help you in the haggling process.
...buyers are encouraged to meet with the seller at least once. This lets you make a positive impression on the seller. Sellers who meet the person or family who will eventually live in their home are often willing to accept lower offers than those who do not...
Find Out How Long the Home has Been Listed for Sale
This is an important question to ask every time you view a potential home. If the home is newly listed, you should know in advance that you will probably need to offer a price near the listing price. However, if the home has been for sale for a year or more, there is a good chance that a lower offer will suffice.
Homes that have been on the market for an extended period of time are often perfect for bargain hunters, because sellers don’t want their homes to be for sale forever. When beginning your home search, pay attention to homes that have been for sale for some time.
Arrange a Meeting With the Seller
If at all possible, buyers are encouraged to meet with the seller at least once. This lets you make a positive impression on the seller. Sellers who meet the person or family who will eventually live in their home are often willing to accept lower offers than those who do not. This is because the process of haggling becomes personal when you put a face with the name. Usually you will not need to do any direct haggling with the seller, because negotiations are part of what your agent or buyer’s broker will do for you.
Ask Your Agent for a List of Comparable Homes
Comparable homes are homes that are similar in value to those that sold in the area where you plan to buy. Having a list of the selling prices for these homes will allow you to determine whether the seller is asking for a fair price for the home.
You can use this information to your advantage during negotiations, particularly when you are formulating the first offer.
Offer a Reasonable Price to the Seller
Some sellers expect buyers to bid at least 5-10% under the listing price of the home. In some cases, the seller will immediately accept an offer in that range. However, other sellers are insulted if they receive an offer of anything less than the listing price.
It is best to begin with a low-end offer, because you can always increase the amount of the offer, but you can almost never decrease it.
Don’t Rush to Adjust Your Offer
If your first offer is rejected, or if you receive a counter-offer from the seller, it is best to wait several days before responding to the seller with more than a “thank you for considering my offer.”
Make the seller believe that you are not going to make another offer. Then, when you do decide to make another offer, the seller will be pleasantly surprised and more willing to consider it.
Look for Alternative Compensation
Some sellers may be willing to include items with the sale of their home when a fair offer has been made. By adding a few thousand dollars to your initial offer, you may be able to request that the seller leave behind the appliances, or you may be able to get the benefits of a pre-paid pool-service contract. Many forms of alternative compensation are available. If you are willing to pay more for a home when it comes with some amenities, then haggling is the right option for you.
Negotiation is not a lost art, but in our busy world people just don’t have the time needed to learn how to haggle effectively.
Your realtor should be happy to assist you in learning about the negotiation process. Years of experience have taught realtors beneficial and effective bargaining methods.
The key to negotiation is being willing to walk away should your efforts prove ineffective. When you realize this fact ahead of time, you stand a far better chance of being successful in your negotiations and achieving a favorable outcome for both you and the seller
Chris Colgan
Remax Regency
http://www.chriscolgan.com/
703-485-1435
Chris@ChrisColgan.com
Search the MLS for Free
Thursday, September 23, 2010
Stratford Market update for September 23, 2010
Stratford Market update for September 23, 2010
There is 1 "ACTIVE" Home for sale in the Stratford community in Manassas, Virginia at this time. The home is priced at $126,797. Currently there is 1 Home in the Stratford community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There is 1 "ACTIVE" Home for sale in the Stratford community in Manassas, Virginia at this time. The home is priced at $126,797. Currently there is 1 Home in the Stratford community under contract.
Last week zero homes closed in Stratford
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
INDEPENDENCE Market update for September 23, 2010
INDEPENDENCE Market update for September 23, 2010
There are 8 "ACTIVE" Homes for sale in the Independence community in Gainesville, Virginia at this time. The homes are priced from $249,900 to $349,900. Currently there are 10 Homes in the Independence community under contract.
Last week zero homes closed in Independence
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 8 "ACTIVE" Homes for sale in the Independence community in Gainesville, Virginia at this time. The homes are priced from $249,900 to $349,900. Currently there are 10 Homes in the Independence community under contract.
Last week zero homes closed in Independence
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
CROSSROADS VILLAGE Market update for September 23, 2010
CROSSROADS VILLAGE Market update for September 23, 2010
There are 6 "ACTIVE" Homes for sale in the Crossroads Village community in Gainesville, Virginia at this time. The homes are priced from $210,000 to $249,900. Currently there are 5 Homes in the Crossroads Village community under contract.
Last week zero homes closed in Crossroads Village
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 6 "ACTIVE" Homes for sale in the Crossroads Village community in Gainesville, Virginia at this time. The homes are priced from $210,000 to $249,900. Currently there are 5 Homes in the Crossroads Village community under contract.
Last week zero homes closed in Crossroads Village
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
SOMERSET Market update for September 23, 2010
SOMERSET Market update for September 23, 2010
There are 6 "ACTIVE" Homes for sale in the Somerset community in Gainesville, Virginia at this time. The homes are priced from $219,900 to $385,000. Currently there are 11 Homes in the Somerset community under contract.
Last week zero homes closed in Somerset
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Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 6 "ACTIVE" Homes for sale in the Somerset community in Gainesville, Virginia at this time. The homes are priced from $219,900 to $385,000. Currently there are 11 Homes in the Somerset community under contract.
Last week zero homes closed in Somerset
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
BLOOMS MILL Market update for September 23, 2010
BLOOMS MILL Market update for September 23, 2010
There are 2 "ACTIVE" Homes for sale in the Blooms Mill community in Manassas, Virginia at this time. The homes are priced from $265,000 to $470,000. Currently there are 14 Homes in the Blooms Mill community under contract.
Last week one home closed in Blooms Mill
8240 GLADE BANK DR, MANASSAS, VA 20111 - PW7359522 - $250,000
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Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 2 "ACTIVE" Homes for sale in the Blooms Mill community in Manassas, Virginia at this time. The homes are priced from $265,000 to $470,000. Currently there are 14 Homes in the Blooms Mill community under contract.
Last week one home closed in Blooms Mill
8240 GLADE BANK DR, MANASSAS, VA 20111 - PW7359522 - $250,000
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Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
WEST GATE OF LOMOND Market update for September 23, 2010
WEST GATE OF LOMOND Market update for September 23, 2010
There are 3 "ACTIVE" Homes for sale in the West Gate of Lomond community in Manassas, Virginia at this time. The homes are priced from $159,900 to $269,900. Currently there are 20 Homes in the West Gate of Lomond community under contract.
Last week zero homes closed in West Gate of Lomond
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Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 3 "ACTIVE" Homes for sale in the West Gate of Lomond community in Manassas, Virginia at this time. The homes are priced from $159,900 to $269,900. Currently there are 20 Homes in the West Gate of Lomond community under contract.
Last week zero homes closed in West Gate of Lomond
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
SUDLEY Market update for September 23, 2010
SUDLEY Market update for September 23, 2010
There are 5 "ACTIVE" Homes for sale in the Sudley community in Manassas, Virginia at this time. The homes are priced from $125,000 to $289,000. Currently there are 23 Homes in the Sudley community under contract.
Last week one home closed in Sudley
10328 COPELAND DR, MANASSAS, VA 20109 - PW7408850 – Closed for $190,000
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Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 5 "ACTIVE" Homes for sale in the Sudley community in Manassas, Virginia at this time. The homes are priced from $125,000 to $289,000. Currently there are 23 Homes in the Sudley community under contract.
Last week one home closed in Sudley
10328 COPELAND DR, MANASSAS, VA 20109 - PW7408850 – Closed for $190,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
HERITAGE FARMS Market update for September 23, 2010
HERITAGE FARMS Market update for September 23, 2010
There are 2 "ACTIVE" Homes for sale in the Heritage Farms community in Gainesville, Virginia at this time. The homes are priced from $685,000 to $799,000. Currently there is 1 Home in the Heritage Farms community under contract.
Last week zero homes closed in Heritage Farms
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 2 "ACTIVE" Homes for sale in the Heritage Farms community in Gainesville, Virginia at this time. The homes are priced from $685,000 to $799,000. Currently there is 1 Home in the Heritage Farms community under contract.
Last week zero homes closed in Heritage Farms
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
KINGSBROOKE Market update for September 23, 2010
KINGSBROOKE Market update for September 23, 2010
There are 6 "ACTIVE" Homes for sale in the Kingsbrooke community in Gainesville, Virginia at this time. The homes are priced from $199,950 to $414,900. Currently there are 12 Homes in the Kingsbrooke community under contract.
Last week two homes closed in Kingsbrooke
8854 STABLE FOREST PL, BRISTOW, VA 20136 - PW7113444 – Closed for $ 190,000
13472 WANSTEADT PL, BRISTOW, VA 20136 - PW7371722 – Closed for $307,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 6 "ACTIVE" Homes for sale in the Kingsbrooke community in Gainesville, Virginia at this time. The homes are priced from $199,950 to $414,900. Currently there are 12 Homes in the Kingsbrooke community under contract.
Last week two homes closed in Kingsbrooke
8854 STABLE FOREST PL, BRISTOW, VA 20136 - PW7113444 – Closed for $ 190,000
13472 WANSTEADT PL, BRISTOW, VA 20136 - PW7371722 – Closed for $307,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
PIEDMONT Market update for September 23, 2010
PIEDMONT Market update for September 23, 2010
There are 20 "ACTIVE" Homes for sale in the Piedmont community in Haymarket, Virginia at this time. The homes are priced from $350,000 to $999,999. Currently there are 15 Homes in the Piedmont community under contract.
Last week one home closed in Piedmont
5959 CODY SPRING PL, HAYMARKET, VA 20169 - PW7438496 - Closed for $840,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 20 "ACTIVE" Homes for sale in the Piedmont community in Haymarket, Virginia at this time. The homes are priced from $350,000 to $999,999. Currently there are 15 Homes in the Piedmont community under contract.
Last week one home closed in Piedmont
5959 CODY SPRING PL, HAYMARKET, VA 20169 - PW7438496 - Closed for $840,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
DOMINION VALLEY Market update for September 23, 2010
DOMINION VALLEY Market update for September 23, 2010
There are 56 "ACTIVE" Homes for sale in the Dominion Valley community in Haymarket, Virginia at this time. The homes are priced from $309,000 to $900,000. Currently there are 34 Homes in the Dominion Valley community under contract.
Last week zero homes closed in Dominion Valley
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 56 "ACTIVE" Homes for sale in the Dominion Valley community in Haymarket, Virginia at this time. The homes are priced from $309,000 to $900,000. Currently there are 34 Homes in the Dominion Valley community under contract.
Last week zero homes closed in Dominion Valley
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
PARADISE Market update for September 23, 2010
PARADISE Market update for September 23, 2010
There are 10 "ACTIVE" Homes for sale in the Paradise community in Manassas, Virginia at this time. The homes are priced from $170,000 to $250,000. Currently there are 13 Homes in the Paradise community under contract.
Last week three homes closed in Paradise
7847 SABRE CT, MANASSAS, VA 20109 - PW7403783 – Closed for $235,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 10 "ACTIVE" Homes for sale in the Paradise community in Manassas, Virginia at this time. The homes are priced from $170,000 to $250,000. Currently there are 13 Homes in the Paradise community under contract.
Last week three homes closed in Paradise
7847 SABRE CT, MANASSAS, VA 20109 - PW7403783 – Closed for $235,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your home’s value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
BRAEMAR Market update for September 23, 2010. Bristow Virginia
BRAEMAR Market update for September 23, 2010
There are 9 "ACTIVE" Homes for sale in the Braemar community in Bristow, Virginia at this time. The homes are priced from $239,000 to $376,000 Currently, there are 22 Homes in the Braemar community under contract.
Last week three homes closed in Braemar
12439 IONA SOUND DR, BRISTOW, VA 20136 - PW7401630 - Closed for $330,000
14501 SWORDALE LN, BRISTOW, VA 20136 - PW7355950 - Closed for $350,000
13526 MARR LODGE LN, BRISTOW, VA 20136 - PW7349354 - Closed for $425,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your homes value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
There are 9 "ACTIVE" Homes for sale in the Braemar community in Bristow, Virginia at this time. The homes are priced from $239,000 to $376,000 Currently, there are 22 Homes in the Braemar community under contract.
Last week three homes closed in Braemar
12439 IONA SOUND DR, BRISTOW, VA 20136 - PW7401630 - Closed for $330,000
14501 SWORDALE LN, BRISTOW, VA 20136 - PW7355950 - Closed for $350,000
13526 MARR LODGE LN, BRISTOW, VA 20136 - PW7349354 - Closed for $425,000
Click here to search the MLS
Click here to receive a free list of Foreclosures in Bristow
Find out your homes value
Chris Colgan Team
RE/Max Regency
10550 Linden Lake plaza suite 102
Manassas, VA 20109
703-485-1435
http://www.chriscolgan.com/
Tuesday, September 21, 2010
Handy Tips for Real Estate Ownership
Handy Tips for Real Estate Ownership
Author: Natasha
So you have decided to be proud owners of your own home? And why shouldn’t you, after all paying monthly rents just drains out your savings and is a liability to real estate seekers. When you set out to invest on a new home, there are bound to be random comments from your friends, family and colleague on how to go about doing so and what are the things to avoid while looking for a house. You may feel bombarded with a lot of information at once that may not help you focus on your actual requirements. So to make it easier and less of a headache for you I have decided to share some tips out of my personal experience of home-buying. Try these out and un-complicate things that need a deeper thought than just superficial analysis.
Following are the tips to be considered while buying a house:
- First and foremost, hiring a realtor is prudent since they are the ones with thorough knowledge on your custom requirements and the homes that match exactly to your expectations. Also, this would be beneficial for you since they are the ones who are immediately updated on the local listings and you would be in a better position as compared to those who venture on their own. Try and explore information on the internet, invest some quality time and get yourself mentally prepared with a list of formalities you need to take care of.
- Do you recollect in chic-flicks or drama-based movies that have been made for years now, whenever there is a scene about buying a house they make it seem even more dramatic by “sensing” the right vibes from the home. Experiencing ‘Deja vu’ on the concept that this may be your dream home is better left to our movie stars. Although realtors may imbibe such thoughts in you and have you look at the home in a sentimental fashion you have got to look beyond it and decide on the actual infrastructure rather than its emotional aura.
- Do not hesitate to ask your seller questions on the home. They would be obliged to respond to your queries otherwise certain facts are going to be unsaid. You may also raise questions to your real estate agent and get honest answers from the seller through him.
- Have a budget planned that is more real and down-to-earth and do not be overwhelmed by the home buying procedure and be led into thinking that you could do more than you think you could. Stick to your ground plan and let only a specific person advice you on this depending on their expertise in the field of real estate investment. You ought to foresee the financial needs post home ownership and keeping these expenses in mind calculate the budget to invest on the house accordingly.
- Hire a home inspector to prevent from being hoaxed into buying a house that needs massive repairs or has deep constructive damage. Little repairs can be taken care of. Just be a smart-buyer than a chance-buyer.
- Keep in mind that you also inspect the house at the time of closing and that the house is in the same condition as it was at the time you first saw it.
All the best on your real estate venture.
Natasha Mohr is a Tampa real estate expert. If you have any questions about Tampa home prices or Tampa luxury homes please don't hesitate to contact us or visit our website at Tampa2Enjoy.com.
Following are the tips to be considered while buying a house:
- First and foremost, hiring a realtor is prudent since they are the ones with thorough knowledge on your custom requirements and the homes that match exactly to your expectations. Also, this would be beneficial for you since they are the ones who are immediately updated on the local listings and you would be in a better position as compared to those who venture on their own. Try and explore information on the internet, invest some quality time and get yourself mentally prepared with a list of formalities you need to take care of.
- Do you recollect in chic-flicks or drama-based movies that have been made for years now, whenever there is a scene about buying a house they make it seem even more dramatic by “sensing” the right vibes from the home. Experiencing ‘Deja vu’ on the concept that this may be your dream home is better left to our movie stars. Although realtors may imbibe such thoughts in you and have you look at the home in a sentimental fashion you have got to look beyond it and decide on the actual infrastructure rather than its emotional aura.
- Do not hesitate to ask your seller questions on the home. They would be obliged to respond to your queries otherwise certain facts are going to be unsaid. You may also raise questions to your real estate agent and get honest answers from the seller through him.
- Have a budget planned that is more real and down-to-earth and do not be overwhelmed by the home buying procedure and be led into thinking that you could do more than you think you could. Stick to your ground plan and let only a specific person advice you on this depending on their expertise in the field of real estate investment. You ought to foresee the financial needs post home ownership and keeping these expenses in mind calculate the budget to invest on the house accordingly.
- Hire a home inspector to prevent from being hoaxed into buying a house that needs massive repairs or has deep constructive damage. Little repairs can be taken care of. Just be a smart-buyer than a chance-buyer.
- Keep in mind that you also inspect the house at the time of closing and that the house is in the same condition as it was at the time you first saw it.
All the best on your real estate venture.
Natasha Mohr is a Tampa real estate expert. If you have any questions about Tampa home prices or Tampa luxury homes please don't hesitate to contact us or visit our website at Tampa2Enjoy.com.
Article Source: http://www.articlealley.com/article_1753205_33.html
MLS Tricks for Pricing Your Home
MLS Tricks for Pricing Your Home
As a homeowner, you cannot afford to lose money on the sale of your home simply because you did not take the time to price your home according to its true value. Under-pricing will leave you full of regret – and overpricing will leave you with a home that has not sold. Home pricing is a balancing act, because you need to take into consideration not only the true value of the home, but also the local market conditions.
As a homeowner, you cannot afford to lose money on the sale of your home simply because you did not take the time to price your home according to its true value. Under-pricing will leave you full of regret – and overpricing will leave you with a home that has not sold. Home pricing is a balancing act, because you need to take into consideration not only the true value of the home, but also the local market conditions.
Some simple techniques can help you determine the best listing price for your home. These are many of the same things that realtors look for when suggesting possible listing prices, but a wise homeowner will walk into a meeting with a realtor already armed with ideal selling prices, rather than letting the listing agent set a price that may or may not maximize the financial return and get the home sold as quickly as possible.
Here Are a Few Key Points to Keep in Mind When Pricing Your Home
- The price that you paid for your home has little impact on the actual value of your home today. This is particularly true if you have lived in your home for several years or more.
- The profit that you hope to gain from the sale of your home has absolutely no impact on the true value of you home.
- You must remove emotion when determining a fair selling price for your home. To potential buyers, your memories are not worth a price increase.
- Your realtor’s assessment of the home’s value may or may not be accurate.
- A real-estate appraisal is a good way to determine the ballpark value of your home, but it does not consider the market conditions under which you will be selling your home.
- The value of your home is really determined by the buyers and the amount that they are willing to pay.
Pricing a home correctly carries many advantages for the seller. As stated above, the buyer is the only one who can really tell you what the value of your home is. Here are some of the benefits that you will achieve when you do the legwork and price your home according to fair market values:Quick Sale
Any realtor will tell you that the fastest-selling homes are those which were priced properly in accordance with the local real estate market and the features that the homes offered to potential buyers.
Any realtor will tell you that the fastest-selling homes are those which were priced properly in accordance with the local real estate market and the features that the homes offered to potential buyers.
Less Updating and Preparation Time
If you price your home according to the fair market value and its current condition, there is little need to update or improve your home. Weekend projects like painting and cleaning will still help to entice buyers, but there will be little need for a serious commitment of your time and energy.
If you price your home according to the fair market value and its current condition, there is little need to update or improve your home. Weekend projects like painting and cleaning will still help to entice buyers, but there will be little need for a serious commitment of your time and energy.
Agent Interest
When the price is right and your home is appealing, agents are much more likely to want to show your home to prospective buyers. Obviously, the more agents who are interested, the more buyers who will see what your home has to offer.
When the price is right and your home is appealing, agents are much more likely to want to show your home to prospective buyers. Obviously, the more agents who are interested, the more buyers who will see what your home has to offer.
Appropriate Pricing Makes the Home Visible
When you price your home fairly, potential buyers interested in purchasing a home in your price range will be able to find your home through internet searches and agent MLS searches.
When you price your home fairly, potential buyers interested in purchasing a home in your price range will be able to find your home through internet searches and agent MLS searches.
Better Buyer Pool
When your home is appealing and the price is fair, agents will bring a better pool of prospective buyers to your home.
When your home is appealing and the price is fair, agents will bring a better pool of prospective buyers to your home.
Greater Likelihood of Getting Your Asking Price
Buyers realize that there is little room for negotiation when a home is listed at a fair price that is not inflated. Therefore, you have a better chance of getting your asking price.
Buyers realize that there is little room for negotiation when a home is listed at a fair price that is not inflated. Therefore, you have a better chance of getting your asking price.
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| Look carefully at the reality of the real-estate market. By carefully assessing the market conditions, you may be able to determine just what housing price the market will comfortably bear. |
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Greater Profit for YOU
When you price your home correctly, your home will probably sell quickly and for the asking price. Therefore, you stand to make a better profit than if the home were to stay on the market for a long time and eventually sell for much less than an inflated asking price.
When you price your home correctly, your home will probably sell quickly and for the asking price. Therefore, you stand to make a better profit than if the home were to stay on the market for a long time and eventually sell for much less than an inflated asking price.
In addition to the benefits of fair pricing, you need to consider the disadvantages of over-inflating a home’s listing price. These disadvantages can include:
- Fewer showings by agents due to lack of agent interest.
- Fewer interested buyers due to price-range restrictions.
- Appraisers’ concerns that the price is higher than that of comparable properties in your area.
- Overpricing that makes lower-priced homes more attractive, in effect helping other homeowners who have listed their home at a lower price.
To set an accurate listing price, follow these steps:
- Ask three different realtors to visit your home and provide you with a comparative market analysis (CMA). This report will tell you how much similar homes have sold for in the past few months, and at what price non-selling homes are listed. In addition, you will learn how long those homes that have sold were actually on the market.
- Go to several open houses in your area to determine the pricing structure being used by other sellers and to find out what features they are highlighting in their homes.
- Try to assess a per-square-foot price for your home based upon other recent sales and current listings in your area.
- Look carefully at the reality of the real-estate market. By carefully assessing the market conditions, you may be able to determine just what housing price the market will comfortably bear.
- Remember that pricing your home correctly will mean that you can move out without having to carry the home for several months and subsequently lowering your price in order to sell.
Conclusion
If you have read this information carefully, you probably now realize the importance of pricing your home according to the local real-estate market and the types of buyers whom you would like to attract. You also understand the many benefits of accurate listing prices, and you have an idea of what might happen if you choose to over-inflate the price of your home.
If you have read this information carefully, you probably now realize the importance of pricing your home according to the local real-estate market and the types of buyers whom you would like to attract. You also understand the many benefits of accurate listing prices, and you have an idea of what might happen if you choose to over-inflate the price of your home.
If you are working with an agent who is recommending that you over-inflate the price of your home, carefully balance the advantages and disadvantages of doing so with respect to your specific situation and the timeframe in which you need to sell the home.
Careful planning and consideration is your best defense in a buyer’s market. Once you have done the necessary research, set a listing price that will help you to sell the home as quickly as possible without underselling yourself.
Re/max Regency
Chris Colgan
703-485-1435
ChrisColganTeam@gmail.com
www.ChrisColgan.com
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Monday, September 20, 2010
How to Minimize or Avoid Paying a Down-Payment
How to Minimize or Avoid Paying a Down-Payment
Today’s homebuyers, particularly first-time buyers, are looking for mortgage programs that provide convenience and flexibility. One of the most commonly sought programs is the 100% financing, zero-down loan. Lenders offer these loan programs, but it is truly buyer beware in most cases, because the lender may require PMI (private mortgage insurance) or other security measure and fees.
If your income and credit will be accepted by a rental agency for an apartment, then you can get approved to buy a home with no down payment. The reason that many people choose to rent instead of buy is that they believe they will need to have enough savings to cover 20% of the home’s purchase price in a down payment. Fortunately, lenders realize that most people (particularly those who do not already own a home) will be unable to come up with a 20% down payment and have designed programs precisely for that situation. Consequently, renters are advised to speak with a mortgage company to learn about available mortgage programs before signing a rental lease.
Be aware that a zero-down mortgage will probably not get you the most competitive interest rate. You will be paying a premium for the ability to borrow funds without providing security in the form of a down payment. The interest rate may be reduced with a down payment of as little as three to five percent, but you will always pay a higher rate for the privilege of not having a down payment. You will need to have excellent credit in order to qualify for a no-money-down loan with a competitive interest rate.
Many people do not realize that getting a no-money-down loan means that you will not be required to pay any closing costs. In this case, the lender is actually providing the borrower with more than 100% financing.
One of the ways that lenders help borrowers with little or no down payment is to provide them with what is commonly known as a piggyback loan. In this type of program, the borrower receives a mortgage loan equal to 80% of the home’s purchase price and a second mortgage loan that is equal to 23% of the purchase price.
If lenders can’t or won’t assist a borrower, a government guarantee program might allow the borrower to qualify for a zero-down loan or a down-payment assistance program. These loan programs are often very competitive and are usually open to low-income families and current or former members of the military.
A loan program that doesn’t require any money down has fairly high interest rates. However, today’s interest rates are low and dropping steadily. Therefore, buying a home with a no-money-down mortgage loan has never made more sense.
When you are in the market for a no-down-payment or zero-money-down home loan, carefully research lenders and their loan programs. Each lender is different and some specialize in the area of no-money-down loans.
First-Time Buyer Programs
If any of the following situations apply to you, then you might be eligible for a special first-time-buyer mortgage program that will provide you with a no-down-payment option or down payment assistance:
no-money-down loan program provides a great opportunity for first-time buyers and buyers with limited cash reserves. There are even programs for borrowers with shaky credit histories and those who are self-employed
•You have never bought a home, or have not bought a home in the past three years.
•You do not have adequate documented funds to be used as a down payment.
•You have previously filed for bankruptcy.
•You are self-employed, or cannot provide adequate verification of your income.
•You have previously been turned down for a mortgage loan by a mortgage company or other lender.
•You have slow credit, damaged credit or no credit.
Further Considerations
The following text lists the things that you will need to research before pursuing a zero-down mortgage. This information is important for every borrower, regardless of the type of loan, but it is much more important when you are trying to get a no-money-down loan.
•Your Credit Report: You need to know in advance what is on your credit report. Having minor blemishes credit report usually is not a problem for most borrowers, but a large number of significant credit problems can reduce the amount that you will be able to borrow. Your debt should be as low as possible prior to applying for a mortgage loan, because one of the factors used by lenders to determine your creditworthiness is your debt-to-income ratio. Also check whether the majority of your debt is spread out over different accounts, because a lender will view several accounts more positively than a single account.
•Your Available Cash: Even when you are trying to get a no-money-down loan, you should try to increase your liquid cash as much as possible before you apply for a mortgage loan. One way to do this is to liquidate some assets, such as stock holdings and bonds. Lenders will often overlook blemishes on your credit report if you can cover at least two months of debt payments with your reserve cash.
•Find the Best Lender: In order to find the best mortgage program for your particular situation, you need to research the individual lenders offering no-money-down loan programs. Because lenders define zero-down mortgage programs in different ways, it is important to find the lender who offers the right type of program for your specific situation.
•Investigate Other Types of Loans: Perhaps other types of loan programs will meet your needs, giving you the opportunity to become a homeowner even when your cash reserves are inadequate for a standard 20% down payment. It is not uncommon for lenders to allow you to borrow two separate loans – one for the down payment and closing costs, and another for about 80% of the purchase price of the home.
Conclusion
Overall, a no-money-down loan program provides a great opportunity for first-time buyers and buyers with limited cash reserves. There are even programs for borrowers with shaky credit histories and those who are self-employed. No matter what your particular situation is, there is a lender who can help to make your dream of home ownership a reality. Just remember that if you can afford a monthly rent payment, you can afford to purchase a home. By considering important factors in advance and researching lenders and their loan programs, you will find a program that will work for you.
Even if you do not have adequate reserves to cover 20% of the purchase price, if your credit and savings history are in good condition and your income is documented correctly, most lenders will be more than happy to work with you to find a program to help you purchase your next home.
For more information visit
http://www.chriscolgan.com/
Search any home for sale in Northern Virginia
Today’s homebuyers, particularly first-time buyers, are looking for mortgage programs that provide convenience and flexibility. One of the most commonly sought programs is the 100% financing, zero-down loan. Lenders offer these loan programs, but it is truly buyer beware in most cases, because the lender may require PMI (private mortgage insurance) or other security measure and fees.
If your income and credit will be accepted by a rental agency for an apartment, then you can get approved to buy a home with no down payment. The reason that many people choose to rent instead of buy is that they believe they will need to have enough savings to cover 20% of the home’s purchase price in a down payment. Fortunately, lenders realize that most people (particularly those who do not already own a home) will be unable to come up with a 20% down payment and have designed programs precisely for that situation. Consequently, renters are advised to speak with a mortgage company to learn about available mortgage programs before signing a rental lease.
Be aware that a zero-down mortgage will probably not get you the most competitive interest rate. You will be paying a premium for the ability to borrow funds without providing security in the form of a down payment. The interest rate may be reduced with a down payment of as little as three to five percent, but you will always pay a higher rate for the privilege of not having a down payment. You will need to have excellent credit in order to qualify for a no-money-down loan with a competitive interest rate.
Many people do not realize that getting a no-money-down loan means that you will not be required to pay any closing costs. In this case, the lender is actually providing the borrower with more than 100% financing.
One of the ways that lenders help borrowers with little or no down payment is to provide them with what is commonly known as a piggyback loan. In this type of program, the borrower receives a mortgage loan equal to 80% of the home’s purchase price and a second mortgage loan that is equal to 23% of the purchase price.
If lenders can’t or won’t assist a borrower, a government guarantee program might allow the borrower to qualify for a zero-down loan or a down-payment assistance program. These loan programs are often very competitive and are usually open to low-income families and current or former members of the military.
A loan program that doesn’t require any money down has fairly high interest rates. However, today’s interest rates are low and dropping steadily. Therefore, buying a home with a no-money-down mortgage loan has never made more sense.
When you are in the market for a no-down-payment or zero-money-down home loan, carefully research lenders and their loan programs. Each lender is different and some specialize in the area of no-money-down loans.
First-Time Buyer Programs
If any of the following situations apply to you, then you might be eligible for a special first-time-buyer mortgage program that will provide you with a no-down-payment option or down payment assistance:
no-money-down loan program provides a great opportunity for first-time buyers and buyers with limited cash reserves. There are even programs for borrowers with shaky credit histories and those who are self-employed
•You have never bought a home, or have not bought a home in the past three years.
•You do not have adequate documented funds to be used as a down payment.
•You have previously filed for bankruptcy.
•You are self-employed, or cannot provide adequate verification of your income.
•You have previously been turned down for a mortgage loan by a mortgage company or other lender.
•You have slow credit, damaged credit or no credit.
Further Considerations
The following text lists the things that you will need to research before pursuing a zero-down mortgage. This information is important for every borrower, regardless of the type of loan, but it is much more important when you are trying to get a no-money-down loan.
•Your Credit Report: You need to know in advance what is on your credit report. Having minor blemishes credit report usually is not a problem for most borrowers, but a large number of significant credit problems can reduce the amount that you will be able to borrow. Your debt should be as low as possible prior to applying for a mortgage loan, because one of the factors used by lenders to determine your creditworthiness is your debt-to-income ratio. Also check whether the majority of your debt is spread out over different accounts, because a lender will view several accounts more positively than a single account.
•Your Available Cash: Even when you are trying to get a no-money-down loan, you should try to increase your liquid cash as much as possible before you apply for a mortgage loan. One way to do this is to liquidate some assets, such as stock holdings and bonds. Lenders will often overlook blemishes on your credit report if you can cover at least two months of debt payments with your reserve cash.
•Find the Best Lender: In order to find the best mortgage program for your particular situation, you need to research the individual lenders offering no-money-down loan programs. Because lenders define zero-down mortgage programs in different ways, it is important to find the lender who offers the right type of program for your specific situation.
•Investigate Other Types of Loans: Perhaps other types of loan programs will meet your needs, giving you the opportunity to become a homeowner even when your cash reserves are inadequate for a standard 20% down payment. It is not uncommon for lenders to allow you to borrow two separate loans – one for the down payment and closing costs, and another for about 80% of the purchase price of the home.
Conclusion
Overall, a no-money-down loan program provides a great opportunity for first-time buyers and buyers with limited cash reserves. There are even programs for borrowers with shaky credit histories and those who are self-employed. No matter what your particular situation is, there is a lender who can help to make your dream of home ownership a reality. Just remember that if you can afford a monthly rent payment, you can afford to purchase a home. By considering important factors in advance and researching lenders and their loan programs, you will find a program that will work for you.
Even if you do not have adequate reserves to cover 20% of the purchase price, if your credit and savings history are in good condition and your income is documented correctly, most lenders will be more than happy to work with you to find a program to help you purchase your next home.
For more information visit
http://www.chriscolgan.com/
Search any home for sale in Northern Virginia
For sale In Manassas VA
| Offered at $400,000 6259 Terrapin Dr Manassas, VA
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For Sale in Warrenton Va - FQ7391562
| Offered at $524,900 661 Gold Cup Dr Warrenton, VA
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