When looking for a home to buy, the stakes are high and the to-do list is long. Mistakes could cost you thousands of dollars. Is there also a not-to-do list of things to avoid if you want this process to go smoothly? Here are seven tips about what prospective homeowners should NOT do when searching for their next home. Some of my colleagues at Long and Foster weigh in: Don’t wait for the next season or for the market Continue Reading
In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.” Bach went on to explain: “Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You Continue Reading
Congrats to my buyer clients who now have a North Arlington home under contract. It took 3 previous offers to get them their dream home. They consider this the best of all the homes they’d seen in their budget range, so all’s well that ends well – no regret that the previous offers they made didn’t stick. This is the property they “fell on their sword” for and beat 3 other offers to win. And they are so happy! The Continue Reading
Buying a Home? Shop Around by Attending Open Houses By Michelle D. Formica, Manager, Marketing Services, The Long & Foster Companies. An open house could be just your ticket to finding your perfect home. Whether you are just beginning to look or you are a serious buyer ready to commit, open houses are a great opportunity for you to shop around and determine what your wants and needs are while staying in your price point. Here is some insight on Continue Reading
RISMEDIA, Monday, March 05, 2018 — With housing inventory far lower than demand and mortgage rates poised to rise, it’s going to be a competitive market for homebuyers this spring. If you’re looking to buy a home this season, here’s how to prepare yourself to enter the fray. Get your financial house in order. Unless you plan on paying for the house in cash, you’ll need to apply for a mortgage. No matter how streamlined the process is, you’ll still Continue Reading
A lot goes into financing a home. Do I need savings? How much do I need to put down? How will the down payment factor into the overall cost? Cut through the misinformation with this infographic by the National Association of REALTORS® (NAR).
In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at Continue Reading
Fantastic new listing in desirable Boulevard Manor neighborhood of North Arlington. Open from 1-4 today, please come visit! 4 bedrooms, 3 full renovated bathrooms Gorgeous, open, renovated kitchen with plentiful cabinetry and lots of countertop work space large newer windows throughout large lower-level family room delightful gardens driveway for off-street parking, storage shed in back 500 N. Lombardy St., Arlington, VA 22203 Asking price $775,000. This is a nice home!
Starting October 1st, the DC Recording tax will be reduced to 0.725% for first-time homebuyers. Qualifying is not as simple as Maryland’s first-time homebuyer exemption; whereby, each homebuyer must simply be a first-time homebuyer of a principal residence to qualify. This enactment also imposes a few additional hurdles, including purchase price limitations and limits on household income. In general, the recordation tax will be reduced to .725% if: Each grantee (i.e., homebuyer taking title) has never owned a principal residence Continue Reading
The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage. A recent article about millennials by Realtor.com explained that: “ About 72% of Continue Reading