Freddy Solis' Real Estate Blog - Bristow, VA
www.trulia.com/blog/freddy_solis/filter/location/Bristow/7044 - CachedTrulia real estate, homes for sale and apartments for rent. Advice ▼. Homes; Rentals; Local Info; Advice ... By Freddy Solis | Agent in Fairfax County, VA ...Northern Virginia Real Estate Blog: Freddy Solis Sells Homes in ...
solisweb.blogspot.com/.../freddy-solis-sells-homes-in-bristow-and.ht... - CachedJun 3, 2011 – Real estate site, search properties for sale in Northern VA, houses for sale and information about Fairfax, Bristow Braemar and the Northern ...Freddy's Bristow VA Real Estate Blog : Freddy Solis Bristow ...
solisweb.activerain.com/agent/solisweb?page=2 - CachedSellers can significantly influence the selling price of your property by ...Freddy's Bristow VA Real Estate Blog
solisweb.activerain.com/ - CachedFor those of you with your head in the sand last weekend, or recovering from ...Freddy solis (solishomes) on Twitter
twitter.com/solishomes - CachedBristow, VA 20136 real estate overview - Trulia.com: ... Freddy Solis Fairfax Virginia Real Estate Blog: Centreville and Manassas Homes for Sale: ...Bristow Foreclosure, Real Estate Agents, REALTORS® - Zillow ...
www.zillow.com/.../Bristow-VA/real-estate-agents-foreclosure-speci... - CachedRead reviews of Bristow, VA foreclosure and REALTORS® on the Zillow Professional ... Freddy Solis Atlantic and Pacific Real Estate. Listings: 0; Rating: ...Freddy Solis, Realtor in Woodbridge, Virginia - Zillow
www.zillow.com/profile/freddySolis/ - CachedFreddy Solis currently with Pacific and Atlantic Real Estate is licensed in the state of Virginia and Maryland. Freddy has been a resident of Northern ...Northern Virginia Real Estate Blog: June 2011
solisweb.blogspot.com/2011_06_01_archive.html - CachedJun 9, 2011 – Real estate site, search properties for sale in Northern VA, houses for sale and ... Freddy Solis Sells Homes in Bristow and Gainesville VA. ...
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Real estate site, search properties for sale in Northern VA, houses for sale and information about Fairfax, Bristow Braemar and the Northern Virginia area by Freddy Solis licensed Realtor® in Maryland and Virginia.
Monday, July 25, 2011
About Me. Real Estate Google Search
Wednesday, July 6, 2011
FHA News - Debt-to Income Ratios
FHA May Clamp Down on Debt-to Income Ratios
The Federal Housing Administration is considering tightening borrowers’ debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home.
The Federal Housing Administration is considering tightening borrowers’ debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home.
The Federal Housing Administration is considering tightening borrowers’ debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home.
The agency has yet to determine what the new minimum and maximum ratios would be and when such changes would go into effect, but the very fact that FHA is contemplating such a move is worrisome to some lenders who say a tightening would exclude more borrowers from the still-fragile housing market and potentially cause home prices to fall further.
From FHA’s perspective, putting a hard cap on debt-to-income ratios would potentially lower its delinquency rate and keep its Mutual Mortgage Insurance fund on sound financial footing.
“It doesn’t do anybody any good if the borrower can’t meet their debt obligations,” Robert Ryan, FHA’s acting commissioner, said in an interview Thursday. “We absolutely have to make sure borrowers are in a position to sustain homeownership.”
For two years now the agency has struggled to tighten guidelines and raise the bar for lenders. But FHA has tried to guard against being adversely selective by tightening its debt ratios.
FHA loans are more or less the only product lenders can offer borrowers who have little money for a down payment (outside of the government’s loan programs for veterans or rural residents).
Though some of the largest banks already have their own DTI caps, some lenders have been willing to give up credit standards to increase loan volume.
FHA is looking at the variables that go into its automated underwriting system Total Scorecard, which considers a variety of factors when automatically approving a loan.
“We’re not sure the model is predicting the outcome,” Ryan said. “We might tighten the DTI ratios up and that would mean instead of an automated approval the lender would do a manual review of those loans to make sure they were comfortable the borrower had more income or savings and there were some extenuating circumstances that would warrant the
approval of that loan even if there was a slightly higher DTI.”
One possible scenario would be for FHA to adopt the debt ratios of its short-refinance program, which was designed to help underwater borrowers refinance into an FHA loan. To qualify, a borrower’s monthly mortgage payment, including a second mortgage, cannot be greater than 31% of his or her pre-tax income and the total DTI ratio cannot exceed 50%.
Lenders say FHA routinely approves borrowers with back-end ratios above 50%.
Currently a borrower with a high FICO score could qualify for an FHA loan even if their total pre-tax income allocated for housing was 46.9% and their total debt load was 56.9%, according to several lenders. The borrower would have to have a high down payment and significant cash reserves.
Conversely, for borrowers with high loan-to-value ratios, Fannie Mae and Freddie Mac require a maximum 28% front-end DTI ratio and 36% back-end on loans they purchase. For manually-underwritten loans, Fannie and Freddie allow a maximum of 45%, though that may go up to 50% with strong compensating factors.
“A debt-to-income ratio over 50% leaves little room for error in a borrower’s monthly budget,” said David Zugheri, president of the Houston lender Envoy Mortgage. “Once you take income taxes out, a borrower could be left with only 25% of their gross income to live on, which includes utility bills, cell phone, insurance and food.”
Rob Chomentowski, a senior loan officer at Affinity Financial in San Diego, said high debt loads are a better predictor of risk than high down payments. “People should not have 55% of their income before taxes going to debt,” Chomentowski. “There’s a lot of talk about raising the down payment and there should be more talk about tightening the DTI ratios, which makes the loans more secure.”
But such a change could adversely impact housing prices.
“If FHA does lower the back-end ratio, it would take a lot of borrowers out of the market, which isn’t a bad thing, but that will take home prices down more,” Chomentowski said. Some lenders said they would be unlikely to manually underwrite a loan that was not approved by FHA’s automated system.
John Walsh, president of Total Mortgage Services LLC in Milford, Conn., said tightening debt ratios while pushing for manually-underwritten loans was a “double-edged sword.”
“The ratios are what they are and nobody is going outside those,” Walsh said. “Everybody is gun shy these days. Would I like to put more borrowers in homes? Without a doubt. But I’m not going to jeopardize my relationship with FHA by going outside that box. Send me the guidelines and if it’s an exception by FHA to do a manual underwrite, I don’t want to do that.”
One possible scenario would be for FHA to adopt the debt ratios of its short-refinance program, which was designed to help underwater borrowers refinance into an FHA loan. To qualify, a borrower’s monthly mortgage payment, including a second mortgage, cannot be greater than 31% of his or her pre-tax income and the total DTI ratio cannot exceed 50%.
Lenders say FHA routinely approves borrowers with back-end ratios above 50%.
Currently a borrower with a high FICO score could qualify for an FHA loan even if their total pre-tax income allocated for housing was 46.9% and their total debt load was 56.9%, according to several lenders. The borrower would have to have a high down payment and significant cash reserves.
Conversely, for borrowers with high loan-to-value ratios, Fannie Mae and Freddie Mac require a maximum 28% front-end DTI ratio and 36% back-end on loans they purchase. For manually-underwritten loans, Fannie and Freddie allow a maximum of 45%, though that may go up to 50% with strong compensating factors.
“A debt-to-income ratio over 50% leaves little room for error in a borrower’s monthly budget,” said David Zugheri, president of the Houston lender Envoy Mortgage. “Once you take income taxes out, a borrower could be left with only 25% of their gross income to live on, which includes utility bills, cell phone, insurance and food.”
Rob Chomentowski, a senior loan officer at Affinity Financial in San Diego, said high debt loads are a better predictor of risk than high down payments. “People should not have 55% of their income before taxes going to debt,” Chomentowski. “There’s a lot of talk about raising the down payment and there should be more talk about tightening the DTI ratios, which makes the loans more secure.”
But such a change could adversely impact housing prices.
“If FHA does lower the back-end ratio, it would take a lot of borrowers out of the market, which isn’t a bad thing, but that will take home prices down more,” Chomentowski said. Some lenders said they would be unlikely to manually underwrite a loan that was not approved by FHA’s automated system.
John Walsh, president of Total Mortgage Services LLC in Milford, Conn., said tightening debt ratios while pushing for manually-underwritten loans was a “double-edged sword.”
“The ratios are what they are and nobody is going outside those,” Walsh said. “Everybody is gun shy these days. Would I like to put more borrowers in homes? Without a doubt. But I’m not going to jeopardize my relationship with FHA by going outside that box. Send me the guidelines and if it’s an exception by FHA to do a manual underwrite, I don’t want to do that.”
Manual underwriting is expected to become a much bigger issue going forward because so many more borrowers applying for loans today went through a bankruptcy or a foreclosure during the recession.
Borrowers can apply for an FHA loan two years after a bankruptcy or three years after a
foreclosure, but the loans all must be manually underwritten and have a maximum back-end
DTI of 41%.
Debt ratios also are playing a role in the larger debate over proposed risk retention requirements and what constitutes a “safe and sound” mortgage.
The Mortgage Bankers Association’s Chief Executive David Stevens said in an interview Tuesday that FHA is trying to put “reasonable” DTI caps on the overall program.
“A borrower with a 10% downpayment and reserves would probably qualify for higher DTI, but FHA may want to keep the DTI5 lower for young first-time homebuyers moving from a rental to ownership,” said Stevens, the former commissioner of FHA, who left the agency in mid-April.
(Stevens has been pushing for a narrow definition of a “qualified residential mortgage,” without hard limits for down payments, DTI or loan-to-value ratios.)
Maurice Jourdain-Earl, a managing director at ComplianceTech, a lending industry consulting firm, said he is concerned that tightening the range of acceptable DTI5 would impact minority borrowers.
“FHA lowering debt-to-income ratios will have the same effect as QRM. The people who can afford it the least will be adversely impacted,” Jourdain-Earl said.
FHA’s market share has surged to nearly 30% during the downturn from 3% in 2006, largely because it has the loosest guidelines among loans guaranteed by the federal government. Higher volume and share has been accompanied by higher defaults and losses, though there’s been a recent decline in loans that were 90 days overdue or in foreclosure. According to the MBA, 8.04% of FHA loans were seriously delinquent at the end of the first quarter, down from 8.46% in the fourth quarter and 9.1% a year earlier.
Borrowers can apply for an FHA loan two years after a bankruptcy or three years after a
foreclosure, but the loans all must be manually underwritten and have a maximum back-end
DTI of 41%.
Debt ratios also are playing a role in the larger debate over proposed risk retention requirements and what constitutes a “safe and sound” mortgage.
The Mortgage Bankers Association’s Chief Executive David Stevens said in an interview Tuesday that FHA is trying to put “reasonable” DTI caps on the overall program.
“A borrower with a 10% downpayment and reserves would probably qualify for higher DTI, but FHA may want to keep the DTI5 lower for young first-time homebuyers moving from a rental to ownership,” said Stevens, the former commissioner of FHA, who left the agency in mid-April.
(Stevens has been pushing for a narrow definition of a “qualified residential mortgage,” without hard limits for down payments, DTI or loan-to-value ratios.)
Maurice Jourdain-Earl, a managing director at ComplianceTech, a lending industry consulting firm, said he is concerned that tightening the range of acceptable DTI5 would impact minority borrowers.
“FHA lowering debt-to-income ratios will have the same effect as QRM. The people who can afford it the least will be adversely impacted,” Jourdain-Earl said.
FHA’s market share has surged to nearly 30% during the downturn from 3% in 2006, largely because it has the loosest guidelines among loans guaranteed by the federal government. Higher volume and share has been accompanied by higher defaults and losses, though there’s been a recent decline in loans that were 90 days overdue or in foreclosure. According to the MBA, 8.04% of FHA loans were seriously delinquent at the end of the first quarter, down from 8.46% in the fourth quarter and 9.1% a year earlier.
Freddy Solis Realtor, SFR~ 703-943-7844 ~ www.freddysolis.com
Selling homes in Bristow Va, Gainesville Va.
Subdivisions: Braemar, Victory Lakes, Bristow Village, Pembrooke, Dunbarton, Lanier Farms, and many other locations.
Thursday, June 9, 2011
First Time Home Buying Help (Money)
The Federal Home Loan Bank (FHLB)
First Time Home Buyer Grant
UP TO $7500 DOWN PAYMENT FUNDS AVAILABLE NOW!! ANY COUNTY!!
- Buyers must be First Time homebuyers (could not have owned a home 3 yrs prior to purchase)
- Maximum amount is $7500 per household.
- Grant is awarded on a 1 to 4 ratio. For example: If a Buyer has $1,000 of their own money, they are eligible for $4,000. If a buyer has $1875 of their own money, they are eligible for $7500.
- Minimum buyer contribution is $1,000.00
- Property must be owner occupied
- Forgivable FHP Subsidy after 5 Years – Must occupy the property for a period of 5 years, or subject to recapture provision and must be repaid.
- Income must be less than 80% of the median home income on Household size (this includes any person(s) living in the household)
- Subject to credit approval
Great program for first time buyers, call 703-943-7844 if you are preparing to buy so we can find you the right lender.
Freddy Solis
Realtor
www.freddysolis.com
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Finding And Obtaining Grant Money
Freddy Solis
Realtor
www.freddysolis.com
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Finding And Obtaining Grant Money
Friday, June 3, 2011
Freddy Solis Sells Homes in Bristow and Gainesville VA.
Selling your home in the Bristow (Braemar) or Gainesville area?
Northern VA is one of most active markets in the country, finding buyers for your home is the easiest part of the selling process, demand for new listing remains strong in the Bristow and Gainesville area, let Freddy help you prepare your home to sell fast at a price that will make you happy.
First time home buyers in the Bristow or Gainesville area of Prince William county this is an excellent time to start looking for your dream home, with current prices at very affordable levels this buyer's market is a great opportunity to purchase a property in Prince William county.
Freddy will help you make your investment rewarding and very memorable.
Freddy resides in Bristow and works all subdivisions within Gainesville and Bristow. He is always available to his customers at any time during business hours or after a client's work hours.
Call Freddy to schedule a meeting to find out the best avenue of approach to your real estate needs.
Freddy Solis Realtor® ~ 703-943-7844 ~ www.freddysolis.com
Selling homes in Bristow Va, Gainesville Va.
Subdivisions: Braemar, Victory Lakes, Bristow Village, Pembrooke, Dunbarton, Lanier Farms, and many other locations.
First time home buyers in the Bristow or Gainesville area of Prince William county this is an excellent time to start looking for your dream home, with current prices at very affordable levels this buyer's market is a great opportunity to purchase a property in Prince William county.
Freddy will help you make your investment rewarding and very memorable.
Freddy resides in Bristow and works all subdivisions within Gainesville and Bristow. He is always available to his customers at any time during business hours or after a client's work hours.
Call Freddy to schedule a meeting to find out the best avenue of approach to your real estate needs.
Freddy Solis Realtor® ~ 703-943-7844 ~ www.freddysolis.com
Selling homes in Bristow Va, Gainesville Va.
Subdivisions: Braemar, Victory Lakes, Bristow Village, Pembrooke, Dunbarton, Lanier Farms, and many other locations.
Wednesday, May 25, 2011
Great Buyer's Information
-
Let Qualified Home Buyers Breathe Life Into Home Market
President Obama’s poll numbers have recovered nicely thanks to the good news surrounding the demise of Osama bin Laden. But the bin Laden bounce will wear off quickly unless the administration takes some bold steps to restore economic confidence in this country. Creating jobs is certainly an essential part of restoring that stability. But in my view, nothing is more important than creating confidence in the long-term health of the housing market. Read -
5 Tips for Deciphering Your Home Loan’s Good-faith Estimate
Knowing how to read your good-faith estimate can help you save money on your home loan. Read -
7 Steps to Take Before You Buy a Home
By doing your homework before you buy, you’ll feel more content about your new home. Read
Visit houselogic.com for more articles like this.
Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®
Ready to purchase your home but still have many questions, let me help you find those real estate answers and your dream home.
Freddy Solis Realtor® ~ 703-943-7844 ~ www.freddysolis.com
Monday, May 9, 2011
116 Fort Evans Rd SE APT C Leesburg, VA 20175 Condo at Fox Chapel
116 Fort Evans Rd SE APT CLeesburg, VA 20175
For Sale: $109,900
Description
Desirable 2 bed, 2 baths condo large living room with enclosed balcony, master suite has private bath and two closets, great location near shopping and commuter routes. Property being sold in as-is condition. No seller disclosure available. Corporate addendum to follow accepted offer. Buyer is responsible for any and all certifications, certificate of occupancy, lender requirements and inspectionsZestimate®: $130,500
Mortgage payment:
$441/mo Payment
| Bedrooms: | 2 |
|---|---|
| Bathrooms: | 2 |
| Sqft: | 940 |
| Lot size: | -- |
| Property type: | Condo |
| Year built: | 1986 |
| MLS Number: | LO7593318 |
| Listing Agent: | Freddy Solis |
| Agent Contact: | 703-943-7844 |
| Company: | Atlantic and Pacific Real Estate |
Friday, March 11, 2011
Mclean Real Estate News
=== News Alert for: Mclean virginia real estate news ===
ServInt Leases New Data Center Capacity to Accommodate Growth
Tophosts
March 10, 2011 - MCLEAN, Va.—(BUSINESS WIRE)— ServInt, a pioneering
provider of ... News) is one of the largest and most respected commercial real estate ...
______________________________________________
Prices lifting home sales
Worcester Telegram
Worcester Telegram
By Kathleen M. Howley BLOOMBERG NEWS The third decline in US home prices in
... chief economist of Zillow Inc., a Seattle-based real estate data
company. ...
<http://www.telegram.com/article/20110309/NEWS/103090338/1002/BUSINESS>
Freddy Solis; RealEstate.com; REALTORS®; Capital Region
8201 Greensboro Drive, Suite 211; McLean, VA 22102
703-943-7844 Cell; www.FreddySolis.com
The Real Estate coach helping achieve your goals.
SE HABLA ESPAŇOL
Friday, March 4, 2011
Centreville and Manassas Homes for Sale
My up-to-date list of available HomeSteps homes within my targeted zip codes.
If you have any questions or need more information about a particular home, please contact the local listing agent managing the sale. Or you may call me at 703-943-7844.
I do not always have homes available in all zip code list areas. When I do, however, I will update this blog.
Property Report for
FREDDY SOLIS
REALESTATE.COM
Report Date: 3/3/2011
Property Status: LISTED
Zip Code: 20112
13724 SANTA ROSA COURT
MANASSAS
PRINCE WILLIAM VA
$256,500
ONE STOP RLTY
(703) 680-4003
7215 DANNY LANE
MANASSAS
PRINCE WILLIAM VA
$240,000
ONE STOP RLTY
(703) 680-4003
12047 KAHNS ROAD
MANASSAS
PRINCE WILLIAM VA
$231,900
COLDWELL BANKER ELITE
(540) 288-3924
Zip Code: 20120
6776 JENNY LEIGH COURT
CENTREVILLE
FAIRFAX VA
$282,500
CENTURY 21 CARDINAL RLTY INC
(540) 659-2161
14404 WILLIAM CARR LN
CENTREVILLE
FAIRFAX VA
$274,900
ONE STOP RLTY
(703) 680-4003
5713 CROATAN COURT
CENTREVILLE
FAIRFAX VA
$249,900
JOBIN RLTY
(703) 533-3877
Zip Code: 20121
13924 PR EACHER CHAPMAN PLACE
CENTREVILLE
FAIRFAX VA
$217,000
ONE STOP RLTY
(703) 680-4003
This list was provided by Homesteps automatic home update.
Freddy Solis; RealEstate.com; REALTORS®; Capital Region
8201 Greensboro Drive, Suite 211; McLean, VA 22102
703-943-7844 Cell; www.FreddySolis.com
The Real Estate coach helping achieve your goals.
SE HABLA ESPAŇOL
Economic Report
Weekly Economic Summary
March 3, 2011
Last week in review(February 21 – 25, 2011)
Middle East:
The unrest in the Middle East drove up oil prices and pushed investors into the safety of bonds which improved home loan rates. To see how those elements impacted home loan rates, let's take a deeper look at each.
First, the global unrest in the Middle East continues to impact the markets. The protests that started a few weeks ago in Tunisia and Egypt have now spread to Bahrain, Yemen and Libya. Libya is of particular concern to the markets since it is the largest holder of oil reserves in Africa.
Oil Prices:
With the thought of oil fields at risk and with no foreseeable resolution, oil spiked as much as $12 a barrel higher last week – climbing over the mark of $100 per barrel. The recent spike in oil has only just begun to translate to pumps across the country, so you can expect to see higher prices in the coming weeks.
Government Bonds:
In addition to higher oil prices, traders are concerned about what might happen. And when traders are uncertain, they tend to move money into the relative safety of bonds, which offer lower returns but also lower risks. This flood of money into bonds – including mortgage bonds – helps prices and home loan rates improve. And sure enough, last week mortgage bonds traded higher, as protests permeated throughout the Middle East.
Those gains in bonds have been limited by the concern of inflation down the road. That's because investors demand a higher yield now to offset the possibility that future inflation will eat into their returns. That was evidenced by the tepid buying demand in last week's Treasury auctions.
The bottom line is that the global situation has been a driving force behind improvement in the bond market and that it may continue to do so in the coming weeks.
Freddy Solis. Capital Region. RealEstate.com Realtors. 703-943-7844 Direct. 703-955-3528 Fax
March 3, 2011
Last week in review(February 21 – 25, 2011)
Middle East:
The unrest in the Middle East drove up oil prices and pushed investors into the safety of bonds which improved home loan rates. To see how those elements impacted home loan rates, let's take a deeper look at each.
First, the global unrest in the Middle East continues to impact the markets. The protests that started a few weeks ago in Tunisia and Egypt have now spread to Bahrain, Yemen and Libya. Libya is of particular concern to the markets since it is the largest holder of oil reserves in Africa.
Oil Prices:
With the thought of oil fields at risk and with no foreseeable resolution, oil spiked as much as $12 a barrel higher last week – climbing over the mark of $100 per barrel. The recent spike in oil has only just begun to translate to pumps across the country, so you can expect to see higher prices in the coming weeks.
Government Bonds:
In addition to higher oil prices, traders are concerned about what might happen. And when traders are uncertain, they tend to move money into the relative safety of bonds, which offer lower returns but also lower risks. This flood of money into bonds – including mortgage bonds – helps prices and home loan rates improve. And sure enough, last week mortgage bonds traded higher, as protests permeated throughout the Middle East.
Those gains in bonds have been limited by the concern of inflation down the road. That's because investors demand a higher yield now to offset the possibility that future inflation will eat into their returns. That was evidenced by the tepid buying demand in last week's Treasury auctions.
The bottom line is that the global situation has been a driving force behind improvement in the bond market and that it may continue to do so in the coming weeks.
Freddy Solis. Capital Region. RealEstate.com Realtors. 703-943-7844 Direct. 703-955-3528 Fax
Wednesday, March 2, 2011
Get Your FREE Report
As a real estate professional, I am involved in a strategic relationship with Home Buyers Marketing II, Inc.
(HBM II), a national real estate company. HBM II provides area home buyers with a FREE, innovative home finding service called the Home Buyers Scouting Report®.
The Home Buyers Scouting Report matches your personal home search preferences with properties that are currently listed for sale and within your price range.
Online and Available 24 Hours a Day!
Login to HBM II’s private, password-protected website to view the listings that match your home search criteria with pictures, prices, address, directions, and maps.* You can easily customize your search any way you like – search for homes by school district, square footage, price, number of bedrooms, and more.
Save and track your favorite properties and receive email updates if the price changes or the property is sold.
Be the First to Know
Many busy homebuyers learn about a great property, only to find that it has already been sold. That won’t happen with the Home Buyers Scouting Report because you will receive Quick Alert® emails of new listings matching your search criteria as they become available.
There is no obligation. Using the Home Buyers Scouting Report will enable you to get a real sense of the current housing market, right from your computer. Whether you are looking to buy a new home soon, or just thinking about new home possibilities, we believe this is the best home finding service available. And, as a preferred customer, we wanted you to know about it.
For more information about receiving this FREE home finding service, call today.
We look forward to hearing from you.
Freddy E. Solissolishomes@yahoo com
Thank you for visiting, to receive your Free report provide your full name* email* and phone number**
*In some markets not all of the listings, addresses, mapping & other property information is available because of local rules and regulations. The Home Buyers Scouting Report® (HBSR) is a free home finding service of Home Buyers Marketing II, Inc. (HBM II), a licensed real estate company that provides the Report directly to homebuyers through a secure, password-protected online service.
**Required
Location: Where to Invest
Where To Put Your Money
As in many aspects of life, the key to real estate investing can be location, location, location. While real estate is perhaps more complicated than hoping for foot traffic at a restaurant with a prime location, location does certainly play a part in the possible viability of a rental property. There are a few things you can look for in the area of your possible real estate investment that can tell you some important things about the possible long-term health of your potential investment.
Check For Growth
Is the area you're looking at experiencing strong population and job growth? These are two important economic indicators that can help you decide whether a particular area is ripe for real estate investment opportunities. Local government web sites and federal reports are readily available with population and job growth information.
While the benefits of an increased local population are obvious, job growth that exceeds that population growth level can indicate a prospering community with money to spend. Areas that prosper are potential candidates for increased rent payments over time, one sure way to put you on the road to profitability with your real estate investment.
With job growth comes quality of life and as qualify of life improves in the area of your investment, so too grows the level of rent you can charge. It is a tried and true fact that people will pay more to live in an area they enjoy, so the prospect of an area growing more and more attractive will directly influence the financial state of your potential real estate investment.
The Real Estate Market
What is the construction atmosphere of the area like? Areas that are seeing a boom in new home construction often experience those booms because of favorable job growth, income growth and other factors. However, for an area where building permits are outpacing new population, that could be an early indicator of an over supply of real estate that could lead to depressed prices for rent payments.
The best case scenario is an area where few homes are for sale, pumping up demand, and where new home construction is strong but not out of control. That can be a fine line, but because any investment takes a great amount of homework and research, it is something that should be investigated over the course of your decision-making process on a new investment.
The Land Crunch
Just as a low supply of homes on the market can produce an upwards trend for housing prices and, subsequently, the level of rent you can charge, so too can a low level of land available to build on. In an area where population is growing and jobs are strong, all of these new people have to go somewhere.
Whenever more people want to move into an area than there are homes for those people to live in, you will see an upward slope for home prices and viable rent payments. If there is little land left to build on, those buildings that are already built will be able to charge more for their rent payments, putting your investment further towards profitability and the long-term benefit of owning property in an attractive part of town.
All of this initial information will not guarantee a profit on a rental property, but these are crucial steps to take when evaluating whether you want to put your hard-earned money into a real estate property that is sure to experience the ups and downs of the local economy. Especially for properties outside of your own home area, knowing the state of both the growth of the population and the home construction industry will help you more accurately predict the future viability of your investment.
As in many aspects of life, the key to real estate investing can be location, location, location. While real estate is perhaps more complicated than hoping for foot traffic at a restaurant with a prime location, location does certainly play a part in the possible viability of a rental property. There are a few things you can look for in the area of your possible real estate investment that can tell you some important things about the possible long-term health of your potential investment.
Check For Growth
Is the area you're looking at experiencing strong population and job growth? These are two important economic indicators that can help you decide whether a particular area is ripe for real estate investment opportunities. Local government web sites and federal reports are readily available with population and job growth information.
While the benefits of an increased local population are obvious, job growth that exceeds that population growth level can indicate a prospering community with money to spend. Areas that prosper are potential candidates for increased rent payments over time, one sure way to put you on the road to profitability with your real estate investment.
With job growth comes quality of life and as qualify of life improves in the area of your investment, so too grows the level of rent you can charge. It is a tried and true fact that people will pay more to live in an area they enjoy, so the prospect of an area growing more and more attractive will directly influence the financial state of your potential real estate investment.
The Real Estate Market
What is the construction atmosphere of the area like? Areas that are seeing a boom in new home construction often experience those booms because of favorable job growth, income growth and other factors. However, for an area where building permits are outpacing new population, that could be an early indicator of an over supply of real estate that could lead to depressed prices for rent payments.
The best case scenario is an area where few homes are for sale, pumping up demand, and where new home construction is strong but not out of control. That can be a fine line, but because any investment takes a great amount of homework and research, it is something that should be investigated over the course of your decision-making process on a new investment.
The Land Crunch
Just as a low supply of homes on the market can produce an upwards trend for housing prices and, subsequently, the level of rent you can charge, so too can a low level of land available to build on. In an area where population is growing and jobs are strong, all of these new people have to go somewhere.
Whenever more people want to move into an area than there are homes for those people to live in, you will see an upward slope for home prices and viable rent payments. If there is little land left to build on, those buildings that are already built will be able to charge more for their rent payments, putting your investment further towards profitability and the long-term benefit of owning property in an attractive part of town.
All of this initial information will not guarantee a profit on a rental property, but these are crucial steps to take when evaluating whether you want to put your hard-earned money into a real estate property that is sure to experience the ups and downs of the local economy. Especially for properties outside of your own home area, knowing the state of both the growth of the population and the home construction industry will help you more accurately predict the future viability of your investment.
This is another original article by Joe Lane, co-owner of The Lane Real Estate Team at http://www.joelane.com/. Are you looking for an experienced Tri City WA Real Estate agency? With 20 years of service based, business experience, Joe and Colleen Lane work hard to serve home buyers and sellers for the Tri Cities of Washington's Kennewick, Richland, Pasco, and surrounding areas.
Investment Tips
Five Real Estate Investment Tips
There are countless tips on real estate investing available and this is by no means intended as a comprehensive list. While every investment has its own intricacies and problems that need to be worked out, there are some very basic aspects that are common to most investment properties. Understanding those aspects and asking questions about them can help you determine whether a particular real estate investment opportunity is for you.
Anything Can Change
Building in the capacity for change in your investment is not only good real estate advice, but good life advice. Aspects of an investment can change at any given time and building in a little cushion in your profit projections for that change will most likely give you a better outlook on the possible outcome of your investment.
This is especially true for something like the tax climate of your investment as changes in tax laws happen regularly. If the tax situation surrounding your investment is the only thing you like about it, it is probably not a sound investment. Solid investments can withstand changes in the tax code, so never rely solely on the stability of tax codes, you will be sorely disappointed.
Do What You Know
It is tempting to get involved in real estate investment opportunities outside of your comfort zone. Maybe the terms look good or the area is nice, but your lack of expertise in the field will ultimately hurt you over the course of the investment. If you are well versed in multi-family homes, do your best to uncover the best investment opportunities in that field. If your bag is fixer-uppers, stick with that. Success is difficult to replicate so if you have a knack for something, exploit that knack.
Compare, Compare, Compare
As any real estate agent will tell you, valuations for a new home put on the market are a direct reflection of other sale prices of similar properties in that area. Your potential investment is the same way. If you are going to rely on rents to make back the money spent on the investment, compare the rents your prospective investment property takes in against similar properties in the area. Are they too high? If so, that may indicate future trouble filling the building at those prices, which then cuts into your profit forecast.
If you are getting involved in a fixer-upper, compare what you think the home will be like in the future to homes that have sold that look similar to that now. Doing so will help you estimate your eventual sale price and the amount of money you should invest to net a decent return.
Hammer Down True Expenses
Just as you want to examine what your incoming cash flow will be on any real estate investment opportunity, you want to investigate your outgoing cash flow as well. What are the key costs involved in running the property? What are the taxes on the property? How much does it cost you when part of your multi-family property is vacant? Sometimes properties can look great when you examine the rent payments coming in but then lose their luster when you look at the cost of running the facility. You need to investigate both sides of the story to get an accurate view of the financial future of your investment.
Know The Building
In real estate investing, surprises are usually costly. Not only should you do a full walk through of the prospective investment yourself, you should also look in to hiring an independent, professional inspector as well. Uncovering problems with the foundation, roof or furnace early can either save you from making a poor investment or give you ammunition to negotiate a lower price.
Not all real estate investments are the same and you will likely run in to a unique problem on every property you pursue. However, by sticking to the tips here, you can give yourself a great foundation from which to operate. Above all, pursue information on the property as vigorously as possible to eliminate the possibility of regretting your investment later.
There are countless tips on real estate investing available and this is by no means intended as a comprehensive list. While every investment has its own intricacies and problems that need to be worked out, there are some very basic aspects that are common to most investment properties. Understanding those aspects and asking questions about them can help you determine whether a particular real estate investment opportunity is for you.
Anything Can Change
Building in the capacity for change in your investment is not only good real estate advice, but good life advice. Aspects of an investment can change at any given time and building in a little cushion in your profit projections for that change will most likely give you a better outlook on the possible outcome of your investment.
This is especially true for something like the tax climate of your investment as changes in tax laws happen regularly. If the tax situation surrounding your investment is the only thing you like about it, it is probably not a sound investment. Solid investments can withstand changes in the tax code, so never rely solely on the stability of tax codes, you will be sorely disappointed.
Do What You Know
It is tempting to get involved in real estate investment opportunities outside of your comfort zone. Maybe the terms look good or the area is nice, but your lack of expertise in the field will ultimately hurt you over the course of the investment. If you are well versed in multi-family homes, do your best to uncover the best investment opportunities in that field. If your bag is fixer-uppers, stick with that. Success is difficult to replicate so if you have a knack for something, exploit that knack.
Compare, Compare, Compare
As any real estate agent will tell you, valuations for a new home put on the market are a direct reflection of other sale prices of similar properties in that area. Your potential investment is the same way. If you are going to rely on rents to make back the money spent on the investment, compare the rents your prospective investment property takes in against similar properties in the area. Are they too high? If so, that may indicate future trouble filling the building at those prices, which then cuts into your profit forecast.
If you are getting involved in a fixer-upper, compare what you think the home will be like in the future to homes that have sold that look similar to that now. Doing so will help you estimate your eventual sale price and the amount of money you should invest to net a decent return.
Hammer Down True Expenses
Just as you want to examine what your incoming cash flow will be on any real estate investment opportunity, you want to investigate your outgoing cash flow as well. What are the key costs involved in running the property? What are the taxes on the property? How much does it cost you when part of your multi-family property is vacant? Sometimes properties can look great when you examine the rent payments coming in but then lose their luster when you look at the cost of running the facility. You need to investigate both sides of the story to get an accurate view of the financial future of your investment.
Know The Building
In real estate investing, surprises are usually costly. Not only should you do a full walk through of the prospective investment yourself, you should also look in to hiring an independent, professional inspector as well. Uncovering problems with the foundation, roof or furnace early can either save you from making a poor investment or give you ammunition to negotiate a lower price.
Not all real estate investments are the same and you will likely run in to a unique problem on every property you pursue. However, by sticking to the tips here, you can give yourself a great foundation from which to operate. Above all, pursue information on the property as vigorously as possible to eliminate the possibility of regretting your investment later.
This is another original article by Joe Lane, co-owner of The Lane Real Estate Team at http://www.joelane.com/. Are you looking for an experienced Tri City WA Real Estate agency? With 20 years of service based, business experience, Joe and Colleen Lane work hard to serve home buyers and sellers for the Tri Cities of Washington's Kennewick, Richland, Pasco, and surrounding areas.
Sunday, February 27, 2011
Web News
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By Paige Tepping | ||||||
 RISMEDIA, February 19, 2011—Real estate professionals can all agree that consistency is the key to creating brand and name recognition in your marketplace. And in today’s challenging market, real estate professionals must do... Continued  |
Friday, February 25, 2011
Fairfax Virginia Real Estate News
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| Stay informed visit this blog to keep up with Fairfax county and the Northern Virginia Real Estate News | ||
| Fannie, Freddie narrow losses in Q4 Forbes "The good news is that their losses are shrinking," said Anthony Sanders, a professor of real estate finance at George Mason University in Fairfax, Va. ... | ||
| APN full-year profit climbs 1.2% on NZ publishing Scoop.co.nz APN is 31.6% owned by UK publisher Independent News & Media Plc, which abandoned ... Fairfax cited growth in advertising sales, especially for real estate. |
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
Website Changes and Improvements for the Year
Great Changes Coming to REALTOR.com®
Over the next year, there will be ongoing and frequent changes to improve the performance of REALTOR.com® for brokers, agents and real estate consumers.
What do these continuous improvements mean for brokers and REALTORS®?
* Brokers, agents and real estate clients may notice minor updates and changes to the appearance of REALTOR.com® on an ongoing basis. Some of these changes may be permanent, and others may be temporary as they continuously improve the site for even better results.
* These minor changes will progressively improve lead capture, increase exposure for your company and listings, and improve the overall website experience for real estate buyers and sellers.
* For example, recent changes to the REALTOR.com® Listing Detail page and REALTOR.com® mobile apps resulted in an average of 36% increase in email leads for agents and brokers in January 2011. 1*
Please visit ask.realtor.com/blog/ to stay up-to-date on the ongoing improvements to the most visited real estate site in the U.S.,2* with the freshest data, the most homes for sale, and over 21 million listings viewed via mobile devices monthly. 3*
*1. REALTOR.com® Internal Research, February 2011
*2. comScore Media Metrix, January 2011
*3. iTunes Connect, Android Market, Flurry.com and Zune Marketplace, as of January 30, 2011
Need help selling your property call me for more details.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
Over the next year, there will be ongoing and frequent changes to improve the performance of REALTOR.com® for brokers, agents and real estate consumers.
What do these continuous improvements mean for brokers and REALTORS®?
* Brokers, agents and real estate clients may notice minor updates and changes to the appearance of REALTOR.com® on an ongoing basis. Some of these changes may be permanent, and others may be temporary as they continuously improve the site for even better results.
* These minor changes will progressively improve lead capture, increase exposure for your company and listings, and improve the overall website experience for real estate buyers and sellers.
* For example, recent changes to the REALTOR.com® Listing Detail page and REALTOR.com® mobile apps resulted in an average of 36% increase in email leads for agents and brokers in January 2011. 1*
Please visit ask.realtor.com/blog/ to stay up-to-date on the ongoing improvements to the most visited real estate site in the U.S.,2* with the freshest data, the most homes for sale, and over 21 million listings viewed via mobile devices monthly. 3*
*1. REALTOR.com® Internal Research, February 2011
*2. comScore Media Metrix, January 2011
*3. iTunes Connect, Android Market, Flurry.com and Zune Marketplace, as of January 30, 2011
Need help selling your property call me for more details.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
Homes for Sale in Centreville VA
My up-to-date list of available HomeSteps homes within my targeted zip codes.
If you have any questions or need more information about a particular home, please contact the local listing agent managing the sale. Or you may call me at 703-943-7844.
I do not always have homes available in all zip code list areas. When I do, however, I will updated this blog.
Property Report for
FREDDY SOLIS
REALESTATE.COM
Report Date: 2/24/2011
Property Status: LISTED
Zip Code: 20112
13724 SANTA ROSA COURT
MANASSAS
PRINCE WILLIAM VA $256,500
ONE STOP RLTY
(703) 680-4003
7215 DANNY LANE
MANASSAS
PRINCE WILLIAM VA $240,000
ONE STOP RLTY
(703) 680-4003
12047 KAHNS ROAD
MANASSAS
PRINCE WILLIAM VA $231,900
COLDWELL BANKER ELITE
(540) 288-3924
Zip Code: 20120
6776 JENNY LEIGH COURT CENTREVILLE
FAIRFAX VA $282,500
CENTURY 21 CARDINAL RLTY
(540) 659-2161
14404 WILLIAM CARR LN
CENTREVILLE
FAIRFAX VA $274,900
ONE STOP RLTY
(703) 680-4003
5713 CROATAN COURT
CENTREVILLE
FAIRFAX VA $249,900
JOBIN RLTY
(703) 533-3877
Zip Code: 20121
13924 PREACHER CHAPMAN PL
CENTREVILLE
FAIRFAX VA $217,000
ONE STOP RLTY
(703) 680-4003
This list was provided by Homesteps automatic home update.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
If you have any questions or need more information about a particular home, please contact the local listing agent managing the sale. Or you may call me at 703-943-7844.
I do not always have homes available in all zip code list areas. When I do, however, I will updated this blog.
Property Report for
FREDDY SOLIS
REALESTATE.COM
Report Date: 2/24/2011
Property Status: LISTED
Zip Code: 20112
13724 SANTA ROSA COURT
MANASSAS
PRINCE WILLIAM VA $256,500
ONE STOP RLTY
(703) 680-4003
7215 DANNY LANE
MANASSAS
PRINCE WILLIAM VA $240,000
ONE STOP RLTY
(703) 680-4003
12047 KAHNS ROAD
MANASSAS
PRINCE WILLIAM VA $231,900
COLDWELL BANKER ELITE
(540) 288-3924
Zip Code: 20120
6776 JENNY LEIGH COURT CENTREVILLE
FAIRFAX VA $282,500
CENTURY 21 CARDINAL RLTY
(540) 659-2161
14404 WILLIAM CARR LN
CENTREVILLE
FAIRFAX VA $274,900
ONE STOP RLTY
(703) 680-4003
5713 CROATAN COURT
CENTREVILLE
FAIRFAX VA $249,900
JOBIN RLTY
(703) 533-3877
Zip Code: 20121
13924 PREACHER CHAPMAN PL
CENTREVILLE
FAIRFAX VA $217,000
ONE STOP RLTY
(703) 680-4003
This list was provided by Homesteps automatic home update.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
PG County My Home Program
MY HOME PROGRAM
Your borrowers Need Cash for Closing? The new My Home Program offered by Prince Georges County Good Day Referral Partner: If you have a client that is short on funds to close talk to a certified Prince Georges County under the NEW My HOME Program. This new program replaces the NSP Program.
The Programs start on Monday Feb 28, 2011. The Borrower can receive up to 5% of the Sales price to use towards closing cost
Example $200,000 x 5% = $10,000 for your client!
There are income restrictions and Debt to income calculations to take into consideration Unlike other programs, the My Home Down Payment Assistance only takes 21 days! For more information call or email me to get in contact with a qualified/certified lender.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
The Programs start on Monday Feb 28, 2011. The Borrower can receive up to 5% of the Sales price to use towards closing cost
Example $200,000 x 5% = $10,000 for your client!
There are income restrictions and Debt to income calculations to take into consideration Unlike other programs, the My Home Down Payment Assistance only takes 21 days! For more information call or email me to get in contact with a qualified/certified lender.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
Economic Summary
Week Summary – February 24, 2011
Last week in review (February 14 – 18, 2011)
In early November, when home loan rates hovered around all time lows, the Fed announced their plan to purchase $600 billion in treasuries through mid-2011. Dubbed Quantitative Easing 2 (QE2), the Fed had three goals:
1. Boost stock prices
2. Lower unemployment
3. Create inflation
After just two and a half months, an argument could be made that the Fed has been somewhat successful so far. Stocks are higher, the unemployment rate has improved, and as we saw last week inflation has ticked higher.
Both the Consumer Price Index (CPI) and Producer Price Index for January were better than expected and the more closely watched Core CPI, which strips out food and energy, came in at the highest level since March 2010. And we're not just seeing inflation here. Reports last week showed inflation is heating up in Asia and Europe, too. So what does all of this mean for home loan rates? Usually any hints of inflation cause both bonds and home loan rates to worsen. Yet, bonds and home loan rates improved slightly last week.
There are two things to note:
First, while last week's inflation data was a touch better than expected, overall, it's still on the tame side.
Second, last week's initial jobless claims was a disappointment, suggesting that the labor market continues to improve but at a very choppy and sluggish pace.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
Last week in review (February 14 – 18, 2011)
In early November, when home loan rates hovered around all time lows, the Fed announced their plan to purchase $600 billion in treasuries through mid-2011. Dubbed Quantitative Easing 2 (QE2), the Fed had three goals:
1. Boost stock prices
2. Lower unemployment
3. Create inflation
After just two and a half months, an argument could be made that the Fed has been somewhat successful so far. Stocks are higher, the unemployment rate has improved, and as we saw last week inflation has ticked higher.
Both the Consumer Price Index (CPI) and Producer Price Index for January were better than expected and the more closely watched Core CPI, which strips out food and energy, came in at the highest level since March 2010. And we're not just seeing inflation here. Reports last week showed inflation is heating up in Asia and Europe, too. So what does all of this mean for home loan rates? Usually any hints of inflation cause both bonds and home loan rates to worsen. Yet, bonds and home loan rates improved slightly last week.
There are two things to note:
First, while last week's inflation data was a touch better than expected, overall, it's still on the tame side.
Second, last week's initial jobless claims was a disappointment, suggesting that the labor market continues to improve but at a very choppy and sluggish pace.
Freddy Solis. Capital Region. RealEstate.com Realtors®. 703-943-7844 Direct. 703-955-3528 Fax
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