Maryland and Virginia Real Estate and Homes Blog

News and current information about the MD and VA real estate market.

Archive for the 'FHA' Category

Maryland and Virginia Real Estate Talk March 2009

March 29th, 2009 by admin

Plugging In… - 03/28/09 06:09 AM
FREEZERS AND REFRIGERATORS IN THE GARAGE?
Freezers and refrigerators in garages are fine when the outlets and wiring are adequate.  Home owners need to be mindful of the electrical capacity in their home and in the garage.  GFCIs are not always present in garages in older homes. 
Often the electrical service … (7 comments)
LEESBURG LUXURY HOME COMMUNITY, CONVENIENT WITH OPEN SPACES AND TREE PRESERVATION - 03/27/09 02:19 PM
MAJOR BUILDERS KNOW THAT PRESERVING TREES WHEN DEVELOPING A SITE PLAN WILL HELP SELL HOMES.
BUILDING ON PASTURE LAND.  Builders or developers often have little opportunity to preserve trees in a new home community.  Often the land being developed is former farm land was cleared 100 years ago and has been … (14 comments)
LOCALISM WORKS FOR FRIENDS AND NEIGHBORS. - 03/26/09 01:46 PM
IF ANY ACTIVE RAIN MEMBERS DOUBT THE EFFECTIVENESS and REACH OF LOCALISM and the SERVICE TO THE COMMUNITY, . . . . .
I just received a telephone call from a lovely gentleman thanking me for my post about the Loudoun County Waste Management center in Leesburg.
 
We chatted for a few … (26 comments)
NORTHERN VIRGINIA FORECLOSED BANK OWNED PROPERTIES ARE STILL A GOOD BUY. - 03/26/09 01:00 PM
BANK OWNED PROPERTIES IN NORTHERN VIRGINIA are priced at market value.  Many home buyers believe that the price on a foreclosure has something to do with “what the bank has in it”.  Not so.  Bank owned properties are priced based on either an appraisal by a licensed appraiser or by a … (4 comments)
OPEN MY OWN REAL ESTATE COMPANY? HAVE YOU LOST YOUR MIND??? HOW??? - 03/26/09 10:28 AM
WHAT IS THE RIGHT TIME FOR A REAL ESTATE PRACTITIONER TO BECOME THEIR OWN BROKER? 
Inspired by Jesse & Kathy Clifton’s announcement about officially opening their own real estate company, reading the account of making that giant step, full of adventure, anticipation and sheer terror, it makes me wonder why more … (111 comments)
“DON’T FEED THE AGENTS” or THEY DIDN’T TEACH ME THIS IS REAL ESTATE SCHOOL! - 03/25/09 08:09 AM
There has been a spirited conversation on a post by Midori Miller, Brokers Nurture Your Agents-Train Them!
Midori wrote:  ”I am not implying in any way that a broker should feed their agents…but teach their agents how to generate their own leads.”
I believe that “it depends” on what type of … (21 comments)
EUREKA! I JUST FIGURED IT OUT! BANKS THINK THEY’RE SELLING RETAIL RATHER THAN RESALE. - 03/24/09 07:16 AM
Inspired by an article by Scott Daniels this morning, I experienced a genuine EUREKA moment. 
Banks are not negotiators.  BANKS ARE DICTATORS. 
Banks do not consider the listings for their properties as “offered for sale”.  They consider their property listings to be a menu of what’s available and priced as is and the banks … (49 comments)
SHOULD AGENTS EXPECT TO BE PAID BY A BUILDER WHEN THEY DIDN’T INTRODUCE THE BUYER?? BY REQUEST. - 03/23/09 03:11 PM
Builders paying real estate commissions.
I received mail from a member who asked for my opinion about agents collecting commissions from builders who require that the agent introduce and register the buyer. 
One of the reasons many agents don’t include new construction in home tours is because a “to-be-built” home takes … (25 comments)
ENJOY THE BUSY SPRING REAL ESTATE MARKET BUT MAKE SURE YOU TOUCH ALL THE BASES. - 03/23/09 01:57 PM
OUR MARKET HAS REALLY PICKED UP STEAM. 
Buyers are calling all day long.  Offers are being written daily by agents in my network.  E-mail inqiries from my IDX site come in 24 hours a day. Interest rates are the best in memory. Prices are the best they have been in 6 years. Even … (26 comments)
FALMOUTH VIRGINIA, STAFFORD COUNTY COMMUNITY WITH GREAT PRICE AND LOCATION. - 03/22/09 04:37 PM
WHAT’S HOT AND WHAT’S NOT?
FALMOUTH IN STAFFORD COUNTY VIRGINIA IS HOT, HOT, HOT!!  Good transportation alternatives with easy access to Route 1, Route 95 and the Virginia Railway Express and close to the Potomac River. 
RECENTLY SOLD HOMES IN FALMOUTH VIRGINIA IN FEBRUARY.
 
    
Homes on Potomac Creek or Abel … (5 comments)
DON’T TAKE AWAY THE CUL-DE-SAC!! DRAMATIC CHANGES PLANNED FOR NEW COMMUNITIES. - 03/22/09 10:33 AM
WHAT?  TAKE AWAY THE CUL-DE-SAC?  HAVE THEY LOST THEIR MIND? 
Apparently this is a serious movement in sub-diviison planning.  I’ve heard rumors.  I’ve seen hints in news reports of new ideas from planners for new communities or sub-divisions.  More communities with roads connecting to surrounding older neighborhoods.  Fewer and fewer single entry communities … (36 comments)
LOUDOUN COUNTY REAL ESTATE FORECLOSURES - LARGE LOTS AND BEAUTIFUL HOMES - 03/20/09 06:49 PM

Foreclosures in Loudoun County come in all sizes and styles.  Below are bank owned homes just waiting for offers.  Home ownes can have horses on lots with 3 acres or more. 
LUXURY HOMES FOR SALE IN LOUDOUN COUNTY MEAN GOOD VALUE.   Bank owned homes for sale come in all prices, … (4 comments)
LOUDOUN COUNTY HOME BUYERS ARE BUYING - THEY’RE GETTING OFF THE FENCE! - 03/20/09 06:08 PM
IN THE PAST TWO WEEKS, I’VE PRESENTED TWO CONTRACTS WHEREBY MY BUYERS WERE OUTBID ON FULL PRICE OFFERS.  Lovettsville homes for sale and Purcellville homes for sale are wonderful locations for home buyers.  Popular public schools, close to MARC Train and the Dulles Greenway, these Western Loudoun County homes for sale offer the best … (6 comments)
GOT TO GET IT OFF MY CHEST! SHORT SALES - UGH! TO SHOW OR NOT TO SHOW - I WAS WRONG! - 03/19/09 06:17 AM
SHORT SALES. . . .  The below was inspired by Mike Jones post this a.m. about financing and short sales. 
TO SHOW OR NOT TO SHOW????  
SHORT SALES. . . . They are the bane of our existence.  We work with very, very good buyers.  Buyers who are qualified, motivated and cooperative.  … (61 comments)
MILITARY HOME BUYERS IN FREDERICK COUNTY MD, WELCOME. NO MONEY DOWN VA FINANCING. - 03/18/09 09:53 AM
REAL ESTATE IN FREDERICK COUNTY MARYLAND THAT IS AFFORDABLE AND VA FINANCING WITH NO MONEY DOWN HOME LOANS.  Cash needed to buy, $ZERO Dollars.
Home in Frederick County priced at $300,000.
           
Good Faith Estimate for Veterans Administration financing in Frederick County Maryland           
Home Price $300,000:
1.  Price, Interest Rate, Loan … (10 comments)
IF YOU CAUSED THE MORTGAGE MESS, YOU GET BAILED OUT. IF YOU ARE A HOMEOWNER. . . . . . - 03/18/09 06:27 AM
COMPARE . . . .
THE GOVERNMENT BAILOUT FOR AIG - $170,000,000,000 so far. 
No accountability No audit No budget No receipts COMPARE TO THE GOVERNMENT MORTGAGE MODIFICATION BILL FOR AMERICAN HOME OWNERS -
Home Affordable Modification Program Guidelines

THE DIFFERENCES ARE ASTOUNDING   
The power groups on Wall Street … (91 comments)

WOODBRIDGE VIRGINIA NEW HOMES - READY TO MOVE IN AND TO-BE-BUILT - BUYER REBATE - 03/17/09 06:07 PM
BUILDERS IN WOODBRIDGE VIRGINIA WANT YOUR BUSINESS. 
NEW HOME BUILDERS IN WOODBRIDGE are offering beautiful homes at attractive prices and incentives.  Many homes are finished, in inventory, and ready to move in.  This is very helpful for military or civilian employees transferring to the area.
POPULAR BUILDERS IN PRINCE WILLIAN COUNTY … (2 comments)
FREDERICK COUNTY NEW HOMES IN WALKERSVILLE MARYLAND - BUILDER INCORPORATES ENVIRONMENTAL FEATURES. - 03/16/09 06:07 PM
MARYLAND BUILDERS ARE OFFERING A WIDE ARRAY OF “GREEN” FEATURES WITH NEW HOMES.  However, these “features” usually come in a package that add a significant cost to the house for sale. 
New homes in Walkersville Maryland, just 4 miles North of Frederick, are offering models with many environmental features incorporated as … (6 comments)
LENN HAD AN EPIPHANY! THE BANKS MAY BE DOUBLE DIPPING! - 03/16/09 11:38 AM
* * * * HARD CORE REAL ESTATE TALK * * * *
HEY FOLKS!  WE DON’T CARE ABOUT LITTLE MONEY.  WE CARE ABOUT THE BIG MONEY.
IT’S LIKE WATCHING A TABLE OF DOMINOES FALL.
BIG MONEY.  I’ve been trying to figure out how AIG could have had it’s hands in … (37 comments)
FREDERICK COUNTY MD NEW HOME PRE-DRYWALL WALK-THROUGH. - 03/16/09 08:34 AM

FREDERICK COUNTY MD REAL ESTATE IS STILL ACTIVE and homes are selling.  We have a buyer with a contract on a wonderful home in Walkersville that should be delivered in June. 
The new home in Frederick County shown here is in the “pre-drywall” stage meaning the electrical and plumging, sub-flooring, windows, … (6 comments)
DISCOVERY ON THE WAY TO A 13 DAY MISSION! - 03/15/09 06:57 PM
SUCCESS!!! 
They’s cut the engines off when they reach about 17,000 miles per hour.
SPACE SHUTTLE DISCOVERY ON THE WAY FOR A 13 DAY MISSION.   Go guys!  You make us proud. 
A First.  Sandra Magnus will be blogging from space.  
Can you believe that there are seven men sitting … (31 comments)
WOODBRIDGE VIRGINIA NEW HOMES - READY TO MOVE IN - BUYER REBATE - 03/13/09 06:36 PM
NEW HOMES IN PRINCE WILLIAM COUNTY VA.  UNDER CONSTRUCTION AND READY FOR OCCUPANCY.
NEW HOME NOW AVAILABLE FOR IMMEDIATE OCCUPANCY - 4 Bedroom, 3.5 Bath Model with 2 Car Garage - Beautiful home with traditional floor plan PLUS many upgrades. 
Home Ready for immediate occupancy and eligible for VA Financing and Military … (12 comments)
NORTHERN VIRGINIA AGENTS - WATCH OUT FOR THE SUPRA KEYBOXES - NOT ALL ASSOCIATIONS ARE ON SENTRILOCK. - 03/13/09 09:25 AM
INTERESTING DISCOVERY THIS WEEK.
I have buyers looking in Lovettsville for a nice home with some acreage, perfect description of homes in Lovettsville. 
We need to show the house today or tomorrow.  I have an appointment.  The house is on a Supra Lockbox.
I have a Supra DisplayKEY.  Unfortunately, it won’t … (26 comments)
DON’T CRITICIZE THE “BUYER’S AGENT” UNLESS YOU UNDERSTAND THE AGENCY RELATIONSHIPS. - 03/11/09 10:52 AM
QUESTION:  WHAT IS A BUYER’S AGENT??
ANSWER:  IT DEPENDS. 
This article inspired by a post by a home inspector who believes that buyer’s agents should have the responsibility and training to evaluate properties for condition and identify property defects. 
DEFINITION OF “BUYER’S AGENT”: 
fiduciary, presumed buyer’s agent, buyer’s broker, … (137 comments)
AQUIA HARBOUR, A GATED WATERFRONT COMMUNITY IN NORTHERN STAFFORD COUNTY VIRGINIA - 03/11/09 08:39 AM
RECENT LISTINGS FOR AQUIA HARBOUR.  In the past 30 days, there have been several new listings for homes for sale in this wonderful and popular community in Stafford County - Aquia Harbour. 
Affordable homes for sale in Aquia Harbour in Stafford County are now a reality.  If you’ve been waiting for … (12 comments)
IF YOU PURCHASED YOUR HOME IN 2004, 2005 or 2006, CHANCES ARE, YOU LOST YOUR SHIRT IN 2007 or 2008. - 03/11/09 08:35 AM
                                 * * * *   HARD CORE REAL ESTATE TALK  * * * *
An interesting article in Inman this this week brings us yet again to the matter of negative equity, that pernicious force that is causing the financial ruin of millions of home owners across the country. 
The writer poses the question, … (11 comments)
Out With The Old…In With The New - 03/10/09 06:00 AM
SPRING CLEANING TIME. 
Larry’s article below inspired me.  I’m going to tackle that garage today.  At least for a half hour.  Then, on to the basement and old files.  Then. . . .
You get the message.  Spring seems to be a time for renewal and cleaning up.  
Larry’s post … (15 comments)
WHY DO SO MANY SELLERS OVERPRICE AND LOSE THE OPPORTUNITY TO SELL THEIR HOME?? - 03/09/09 06:31 PM
WHY DO SO MANY HOME OWNERS OVERPRICE THEIR HOMES TO SELL?
Inspired by Janet Guilbault, California Mortgage Expert, who ponders Deflation Nation: How to Be A Seller When No One Wants to Buy                              
In a fascinating article, Janet ponders the many reasons why sellers do not sell when opportunity presents.  We’ve … (94 comments)
Closing Cost Estimate for VA Buyers for Charles County, Maryland - ZERO Down and Closing Paid by Seller - 03/09/09 07:04 AM
CHARLES COUNTY REAL ESTATE CLOSING COSTS FOR VA FINANCED HOME BUYERS.
Prepared by an experienced loan officer, the Good Faith Estimate below will help home buyer understand the costs associated with purchasing a home using their VA eligibility.  This financing is available to active duty military home buyers and former military personnel. 
(7 comments)
MILITARY HOME BUYERS IN VIRGINIA WITH VA ELIGIBILITY CAN BUY A WONDERFUL HOME WITH NO DOWN PAYMENT. - 03/07/09 11:02 AM
VIRGINIA HOME BUYERS WITH VA ELIGIBILITY, Active Duty or former military members have a wonderful opportunity to buy homes at the best prices in many years.  Home prices in the VA eligibility range of $417,000 offer a lot of home for the money.  Further, sellers who need to sell can pay … (9 comments)
THE BANKRUPTCY CRAMDOWN MORTGAGE MODIFICATION JUST MIGHT. . . . . - 03/06/09 06:15 PM
                                           * * * * HARD CORE REAL ESTATE TALK * * * *
OR, SHALL WE JUST TOSS THE BABY OUT WITH THE BATHWATER, to preserve the sanctity of the “contract” of the mortgage note, even if the note was obtained by deception and in violation of all that … (33 comments)
MILITARY HOME BUYERS IN MARYLAND CAN BUY A HOME WITH $0 DOWN PAYMENT and THE SELLER CAN PAY YOUR CLOSING COSTS - 03/06/09 04:34 PM
Military home buyers in Maryland have a wonderful opportunity to buy homes at fantastic prices.  Active Duty Military Service Personnel relocating to or living in Maryland will find home prices that make real estate in Maryland a good buy.  VA Eligibility price ranges bring homes not possible for many years for … (5 comments)
WATERFRONT HOME IN SALISBURY - WICOMICI COUNTY MARYLAND REAL ESTATE - 03/06/09 07:20 AM
WATERFRONT HOME IN WICOMICO COUNTY, MARYLAND where Lake Johnson is the back yard and the neighbors are waterfowl and fishermen. 
Priced to sell - $225,000.  Lovely Craftsman style home ready for home buyers who want a view of the water from your back yard. 
   
BACK YARD VIEW OF LAKE … (17 comments)
STAFFORD COUNTY FORECLOSURES FOR SALE, FREDDIE MAC OWNED PROPERTIES FOR SALE - 03/05/09 01:52 PM
STAFFORD COUNTY IS A BOOMING ECONOMIC AREA making it a good location for home buyers.  Employment opportunities are growing, home prices are more stable than other areas of Northern Virginia.  Stafford County public schools are popular and attract families relocating to the area. 
HOME OWNERS ARE LOOKING FOR VALUE.  We found … (9 comments)
PRINCE WILLIAM COUNTY VIRGINIA REAL ESTATE. FREDDIE MAC OWNED HOMES FOR SALE in WOODBRIDGE, DALE CITY. - 03/05/09 12:36 PM
WOODBRIDGE HOMES FOR SALE ARE POPULAR WITH HOME BUYERS. Located along Route 95, Route 1, convenient to world class shopping at Potomac Mills, community centers popular with families with children and an easy commute to DC, Ft. Belvoir, Tysons Corner.
Most home buyers ask us for homes that include: 
3-4 bedrooms or more, 2 full baths … (0 comments)
PURCELLVILLE VA NEW HOME, BEAUTIFUL WOODED LOT IN WRIGHT FARM. - 03/04/09 05:26 PM
BUILDER HAS JUST 3 LOTS REMAINING AND THIS IS THE MOST BEAUTIFUL.  PRICES ARE THE LOWEST IN 5 YEARS.  TAKE ADVANTAGE OF LOW PRICES, BUILDER INCENTIVES AND THE BUYERS REBATE OF $7,000.
  BASE PRICE - $699,900
Buyer REBATE - $7,000
INCLUSING LUXURY FEATURES BELOW
GRANITE COUNTERTOPS IN GOURMET KITCHEN * 3,535 … (7 comments)
LOVETTSVILLE VA HOMES FOR SALE, More Homes for Your Money in Loudoun County Virginia - 03/04/09 01:13 PM
LOVETTSVILLE VIRGINIA REAL ESTATE IS ONE OF THE MOST AFFORDABLE AREAS IN LOUDOUN COUNTY.  
Low interest rates are a primary contributor to that positive index.  Rates in the Northern Virginia area are from about 4.75% to about 6.5% depending on credit scores or credit history and down payment. 
YES!  Ask about the … (0 comments)
ST. MARY’S COUNTY MD WATER FRONT HOME WITH LUXURY AND BEAUTY - 03/02/09 10:41 AM
MARYLAND OFFERS MANY MILES OF WATER FRONTAGE. 
The Chesapeake Bay offers over 4,600 miles of shore line for our enjoyment. 23 rivers and bays feed the Chesapeake Bay. Maryland has approx. 600 marinas offering homes for pleasure boats. Approximately 215,000 pleasure boats are registered in Maryland. Home owners seeking waterfront properties … (16 comments)
MOVING THE SHORT SALE DISCUSSION UP A NOTCH. ARE THERE ANTI-TRUST IMPLICATIONS? - 03/01/09 05:27 PM
Katerina Gasset ponders the possibility of banks being in violation of anti-trust laws if they conspire between each other to keep broker fees for short sale listings to a specific commission amount.  (Notice no specific commission amount or percentage is stated herein). 
WHAT A FASCINATING QUESTION.
Katerina.  HA!  I don’t know … (51 comments)
PROOF POSITIVE THAT BANKS DON’T REALLY WANT TO SELL SHORT SALES - OR DON’T KNOW HOW. - 03/01/09 10:28 AM
                                              * * * * WHAT ARE THEY THINKING? * * * *
THE COMMENT IN THE AGENT’S REMARKS BELOW are an example of why many Short Sales will never sell.  I wonder if the listing agent has advised the seller of the likelihood that the home will not sell … (32 comments)

Category: About Homefinders.com, Baltimore City History, Baltimore County Luxury Home, Baltimore Mortgages, Baltimore Zoo, Carroll County MD Homes for Sale, Charles County MD Real Estate, FHA, Fairfax County Foreclosures, Fauquier County VA, Fixer Uppers MD and VA, Fixer Uppers in MD and VA, Foreclosures in MD and VA, Frederick County MD New Homes, Gaithesburg, Germantown MD, OPINION, baltimore luxury homes | No Comments »

FHA Financing Examples for Maryland and Northern Virginia

February 2nd, 2009 by admin

    FHA  Financing Example
Property Down Loan MIP Amount Interest Escrow Monthly
Price Payment Amount 1.75% Financed Rate Tax & Ins. Payment
$400,000 $14,000 $386,000 $6,750 $392,750 5.50% $375 $2,605
$300,000 $10,500 $298,500 $5,066 $303,566 5.50% $300 $2,024
$200,000 $7,000 $193,000 $3,377 $196,378 5.50% $275 $1,390
               

Category: FHA | No Comments »