Virginia Real Estate Blog

For those homebuyers considering a purchase with an FHA loan, I have received the following notice from my lender, JD Scott at Monarch Mortgage.  Please note that these changes may impact you!  Contact JD on 757 961 0648 (or your lender) for additional information.

What's Changing?

If you or someone you know is considering an FHA loan, some of these changes may affect you. Here's a clear, concise rundown of the major changes and what they mean:

1. Increased mortgage insurance. The mortgage insurance premium (referred to as private mortgage insurance by many people) will be increased from 1.75% to 2.25%. This change will add some cost to purchasing a home, but will not overburden consumers since the mortgage insurance is paid over the life of the loan, rather than upfront at closing. This change will become effective on April 5, 2010.

2. New down payment and credit score requirements. According to the new policy, homebuyers who have a credit score of at least 580 may still be able to purchase a home with 3.5% down, but those with credit scores of less than 580 will be required to put down at least 10%. This change is designed to help the FHA balance its risk, while still providing affordable down payments for consumers with a history of good credit and responsibility.

3. Reduced seller concession. Basically, this change means that the person selling the home will now only be able to offer the homebuyer 3% to help defray closing costs, as opposed to 6% under the previous policy.

 

If you are ready to starting looking for a new home, I can help!   Looking to buy or sell a home in Fredericksburg area?  Call me to learn more about Stafford, Spotsylvania, King George, or other areas around Quantico!

So with the interest rates very low and the overall price of homes going up, now is the time to buy a home. Have you been on the fence?  Don't forget about the first time home buyer credit AND/OR the newer credit for Move Up buyers! 

For the move-up credit the following applies:  a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010). The National Association of Realtors has some great info on this program.

 

And remember - now that spring is on the horizon, you wont have to shovel snow!  The seller had to do that!  :)

 

 

 

Just hunting around on different websites for some new information to share with you.  I found this video on the Realtor.org website. It is really good - only 3 minutes  - but highlights some totally cool features and technologies that will help you save money (and the earth) when you remodel your kitchen.  Check it out!

I am very pleased to tell you all that I have found a home in the Fredericksburg, VA area!  After my husband accepted a job at Quantico, at the Marine Command and Staff College, we were resigned to leaving our gorgeous Victorian home in Norfolk VA and finding a new home new Quantico.  We looked for homes in Prince William, VA, in Stafford VA. We searched homes in Spotsylvania County, and considered real estate in Manasssas.  All things considered including, homes with an easy commute to Quanitico, brought us to our new home in Stafford County VA. 

My husband takes the VRE - Virginia Railway Express - directly to Quantico and the train station is just a few miles from our home.

WHAT I really Wanted to share however is my NEW REAL ESTATE  HOME!  I have found the perfect spot for me at RE/MAX Cornerstone Realty with an office in Fredericksburg VA! I welcome the opportunity to assist you with your real estate needs and your referrals!

 

Certified EcoBroker, Realtor

RE/MAX Cornerstone Realty

757 353 2142

Even though we have too much snow, this one made me smile about it! I hope it does the same for you! This is from one of my favorite websites beagles-on-the-web!

Yeah!  JEL TILE finished the job today!  It looks great!  I need to paint, install the lights, put up mirrors, and well... the rest of it. But the hard work is done.  Thanks again to John and Lori at JEL TILE!

I know everyone has been waiting for an update!  So here it.... The tiles are going in beautifully!  The contractor, JELTile on Garrisonville Road in Stafford, VA is really attentive to detail and takes the steps needed to 'get it right'. I am very pleased with their work so far.

 

As you know from reading earlier blogs, this bathroom remodel was not elective, but requisite!  On the plus, if we were considering selling the house, a bathroom remodel is a great investment and one where the homeowner may see a return on investment for the project.  Bankrate says almost 85% of the value can be recovered while the COST vs VALUE report from National Association of Realtors (Realtor.org) says about 75% of costs are recouped.

 

Regardless, I am loving the results and it will be worth every penny to me.

Stage one is compete.  The old cracked tiles have been removed and the shower has been gutted.

We added insulation for sound dampening to the shower walls and the plumber comes this afternoon to install the new 'guts' - shower diverter, etc. 

The plumbing fixtures have been the biggest challenge.  This home isn't old.  1992 seems like a new house to me compared to my previous Norfolk home, built in 1912. But sure enough, the 'guts' of the shower and the tub are so old that no new fixtures, even ones of the same brand, do not fit.  Anyway, after numerous online attempts and trips to home stores in the area, I finally understood that all new plumbing was required. 

John from JELTile (a tile store in Stafford VA) is here today to start laying the floor and next week they will finish up the shower walls, tub surround and the vanity goes back in.

In an effort to discover Fredericksburg, our new town, and to take advantage of one of the first warm (over 50 degrees) days since our move, my husband and I decided to 'take a walk in the woods'. This walk would surely be less taxing than Bill Bryson's for several reasons

1. We were NOT attacking the Appalachian Trial from either end or even from the middle

2. We would have 2 beagle dogs with us who would surely be looking for their beds after an hour or two

3. We would be leaving an elderly beagle boy home to guard the house in our absence and he would need food and the outdoor facilities in short order.

Regardless of our time constraints, but aware of them, we set off to Caledon Natural Area in King George VA (this between our home in Fredericksburg and the area near Dahlgren).

The walk was, in a word, monochromatic. In two words, monochromatic and flat.  We will try harder next time!  Actually it was quite lovely, peaceful, and provided a intertesting view of the Potomac River with ice. The area is known for its eagle population and so is off limits during breeding season. I am glad we had a chance to see it in winter and I look forward to another visit in spring.

Today, it is chores on the agenda! 

PS, the girls were, in fact, pooped after the walk. Seen here in the back seat of the Ford Escape Hybrid! 

 

 

PPS we did in fact pick up the trash that floated onto shore - I dont think eagles like Corona.

 

 

Wanted to take this opportunity to introduce Maize to you.  She is a SWEET beagle girl of a certain age (she's not telling) who is available for adoption through Beagles to the Rescue in Hampton Roads Virginia.

Find a friend, adopt a beagle!

 

http://www.beaglestotherescue.org/maize.cfm