There are opinions on both sides. Read this blog from KCM and if you do decide to sell your property in Northern Virginia or Washington, DC, please contact me for some valuable information on how I can sell your home faster and for more money than you would expect.
Another affordable community near the Vienna Orange Line is the Waterford Community off Blake Lane in Vienna, VA , just past Oakton High School. These 186 units were built around the mid 1970’s. Below are the homes that sold in 2011 with broker participation. There probably were some For Sale By Owner sales (as they usually are, but i don’t have those numbers).
It’s a vibrant, active community. Just check our this sample HOA newletter here to see what’s going on in Waterford. http://goo.gl/w2C2I
As of this date, there is one unit that is “For Sale By Owner,” which I can show to any interested persons. The last home sold in February, 2012 at 2927 Cashel. The list price was $439,000 and it closed at $422,000. HOA Fees are $233 quarterly. The community schools as Mosby Woods Elementary, Luther Jackson Middle, and Oakton High School. And, from most locations, it’s an easy walk to the Vienna Metro!
|Address||ListPrice||Close Price||Close Date||BR|
|2908 Cashel Ln||$434,900||$434,900||23-May-11||3|
|2927 Cashel Ln||$439,000||$422,000||29-Feb-12||3|
|2929 Cashel Ln||$424,900||$420,000||29-Jul-11||4|
|2953 Cashel Ln||$434,900||$434,900||17-Jun-11||3|
|9904 Longford Ct||$439,900||$430,000||6-May-11||3|
|9943 Longford Ct||$315,000||$275,100||25-Jan-11||3|
|9943 Longford Ct||$439,900||$439,900||8-Apr-11||3|
|2980 Valera Ct||$429,000||$429,000||12-Aug-11||3|
|2932 Waterford Ct||$429,900||$400,000||19-Oct-11||4|
|2938 Waterford Ct||$394,900||$394,900||29-Apr-11||4|
|2950 Waterford Ct||$449,500||$449,000||29-Aug-11||4|
Let me know if you are interested in this community!
President Obama signs HR 2112, extends FHA and VA loan limits
November 21, 2011 | by Anne
Original article from AGBeat.com.
Loan limit increase finalized
We reported last week that bipartisan Congressional efforts passed HR 2112, the Consolidated and Further Continuing Appropriations Act of 2012 to restore higher FHA loan limits which expired on September 30, 2011.
This agreement (that came with riders) increased the maximum dollar amount of mortgage loans that can be insured by the Federal Housing Administration (FHA) back to $729,750 after dropping the cap to $625,500 automatically after a temporary increase was issued for all loans insured by the FHA. The restored higher limit will remain in place through 2013 but does not include Fannie Mae or Freddie Mac backed loans.
Representatives Gary Miller and Brad Sherman (R-CA) successfully got a measure passed that created a conforming loan limit cap of $625,000 in areas with median home prices over $417,000 before it was initially increased to $729,750 which expired and was passed by a 298-121 vote in the U.S. House of Representatives and a 70-30 vote in the Senate.
Obama signs HR 2112 into law
HR 2112 has passed and President Obama signed into law HR 2112 late on Friday. The bill provides $128 billion in discretionary appropriations to provide funding for three 2012 appropriations bills (Agriculture, Transportation-Housing and Urban Development and Commerce-Justice Science).
The Consolidated and Further Continuing Appropriations Act of 2012 provides $1.3 billion to HUD for administration, up $16 million from 2011 but down $18 million from the President’s request.
VA Loan Information (from Veterans Administration Website) (11-29-2011)
[11/22/2011 – Latest Funding fee Update!! On November 21, 2011, President Obama signed HR 674, Vow to Hire Heroes Act of 2011 that includes a provision to revert funding fees to their former higher level through September 30, 2016. We have released circular 26-11-19, which provides more information. Please monitor this site and the Funding Fee Payment System site for information.]
Housing Upgrades That Aren’t Worth It
By Melissa Dittmann Tracey, REALTOR Magazine
When upgrading, home owners often seek features that aren’t only desirable to them but also what will add value to the home when it comes time for resale. Certainly, the annual Cost vs. Value survey can be one of your biggest assets in helping to advise clients. The annual survey by Remodeling Magazine, in conjunction with REALTOR Magazine, reveals specific remodeling projects that offer the biggest returns at resale.
But what is some more general advise to help guide home owners when it comes to upgrades? An article at Bankrate.com from 2008, we feel still offers some practical advice that applies today when determining how to upgrade a house and add value–not lose value. Here are a few general tips from the article about judging housing upgrades for resale that may or may not be worth the expense:
Too high maintenance. Many buyers aren’t looking for homes that require too much upkeep and maintenance (hence, part of the reason behind the small-home, downsizing movement). The article notes in-ground swimming pools as a prime example of a high-maintenance feature that may turnoff many buyers as they look at the upkeep of it as too costly and too much work. (See: Are Pools Worth the Expense?)
Over-the-top. Home owners don’t necessarily want to have the most upgraded home on the block. That’s because when they go to sell it, they likely won’t make all their money back on the upgrades if the home becomes overvalued for the neighborhood. So while granite countertops, stainless steel appliances and all the top finishes are always an attraction, home owners need to ask whether such features are too much for their neighborhood, particularly if the other homes just have moderately priced cabinets or features.
Too personal. Too much customized design choices, such as a Tuscan theme taken to the extreme, may turn off buyers or attract low-ball offers at times of resale because buyers who may have differing tastes see the decor and finishes as something they have to do-over. “Any time you deviate, no matter what the improvement is, from what is a fairly traditional, single-family house, you run the risk of improving in a fashion that will not lend itself to additional dollars,” Miami real estate pro Moe Veissi told Bankrate.com.