Sunday, November 27, 2016

Great news for borrowers!



Conventional conforming loan limit is increasing the first time in ten years! This fantastic news for all of our borrowers. 


"Conforming Loan Limits Raised for First Time Since 2006


The maximum baseline conforming loan limit in 2017 is being increased to $424,100 by the Federal Housing Finance Agency. This is the first increase since 2006, and it is an indication of rising home prices.
Since 2006, the baseline maximum conforming loan limit for loans purchased by Freddie Mac and Fannie Mae was $417,000.
The baseline loan limit applies to most of the country, with the exception of high-cost areas where 115% of the local median home value exceeds the baseline loan limit. In these areas, higher loan limits apply.
The new ceiling loan limit that applies to the areas with the most expensive homes will be $636,150, which represents 150% of the maximum baseline, the FHFA said.
The choice to raise the loan limit is a result of higher home prices nationwide. The Housing and Economic Recovery Act, which established the previous baseline loan limit, required that the limit be adjusted every year to account for fluctuations in the national average home price. But the legislation also required prices to recover following the financial crisis to pre-housing bust levels before such adjustments could be made.
Home prices were 1.7% higher in the third quarter of 2016 than during the same period in 2007, according to the FHFA's Home Price Index, also released on Wednesday. The increase to the baseline conforming loan limit matches that 1.7% uptick.
"Until this year, the average U.S. home price remained below the level achieved in the third quarter of 2007 and thus the baseline loan limit had not been increased," the FHFA said in its announcement of the increase."

Tuesday, November 22, 2016

4 Reasons why the Holidays are the BEST times to buy!



A lot you may be putting off your home buying plans on hold after the Holidays, and as a Loan Officer that has been doing this for many years, I can tell you that you should start the process today!

Lock In Your Rates
We can't predict what they market will look like after the holidays, and most people don't think of getting pre-approved until they start looking at houses. It's important for you to get your paperwork in order just in case you find a property that you like. It can take a little bit of time to get pre-approved and there is a high demand for housing now so if you don't want to miss out on a great home, make sure to have your pre-approval letter on hand. Rates can be locked in for two months, so even if you don't buy right now you can find out what your interest rates are going to be now and shop around with ease. 

Less Buyers / Competition
Buying a house can be competitive in today's Real Estate Market, many desirable homes are selling quickly. During the holidays, most people will be preoccupied with holiday shopping and family events but there will still be a healthy housing inventory out there for you to choose from. This can be a huge win for you!

Winter Specials
Moving companies and storage units are typically not as busy during Winter since a lot of people don't enjoy moving during the Winter. Sometimes you can save a little money by taking advantage of any specials they may be running. You can also count on flexibility of dates too since they may be working on less projects.

Avoid the Spring Market
I can tell you from personal experience that Spring is one of the most hectic times for people in the Real Estate industry! You can easily avoid all of that by shopping in the Winter. Even though I always do my absolute best to make sure you close on time, it is not always up to me. When you shop during a slower season we can make sure that other parties involved stay on track. This is great for all of our buyers!

These are my top four reasons why the Winter is the best time to buy, but honestly, don't you want to start your New Year in a new home anyway? Make it one of your New Year's resolution goals to buy a home and start the New Year fresh! 


Friday, November 11, 2016

Beautiful Condo in Midlothian for sale!






1201 Westwood Village Ln UNIT 403, Midlothian, VA 23114

2 beds2 baths1,710 sqft



**Price Adjustment** Motivated sellers who built the perfect condo already. Why build when this is move in ready with tons of upgrades? Welcome to Westwood Village at Charter Colony. Enjoy maintenance free living in stunning unit in an elevator equipped condominium with secured access. There is a beautiful eat-in kitchen granite counters, stainless steel appliances, tile backsplash, gas cooking, under cabinet lighting and recessed lights. The great room includes a fireplace. The owners bath  More 

WHAT I LOVE ABOUT THE HOME

This condo is bright and airy with cathedral ceilings and a homey feel. Tons of space with lots of modern touches. Nothing to do but move in and enjoy life!

OPEN HOUSE

  • 11/13 1pm-4pm

FACTS

  • Condo
  • Built in 2015
  • 41 days on Zillow
  • Views since listing: 1,278
  • All time views: 1,279
  • 10 shoppers saved this home
  • HOA Fee: $240/mo
  • Cooling: Central
  • Heating: Forced air
  • Laundry: In Unit

FEATURES

  • Ceiling Fan
  • Controlled Access
  • Elevator
  • Flooring: Carpet, Linoleum / Vinyl
  • Patio
  • Pool
  • Porch
  • Security System
  • Tennis Court

ADDITIONAL FEATURES

  • Fee Period: Monthly
  • Pool Desc: Community/Off Site
  • Property Type: Condo/Town
  • Roof: Dimensional, Asphalt
  • Structure: Frame
  • Wall Type: Drywall
  • Year Blt Desc: Actual
  • Attic: No Attic
  • Disclosures: Listing Attachment
  • New Resale: Resale (occupied at least once)
  • Property Sub Type: Condominium
  • Amenity: Association, Elevator, Landscaping, Maintenance Free, Common Area, Clubhouse, Playground, Jogging Path, Kiddie Pool, Lifeguard
  • Exterior: Irrigation System, Screens, Storage Shed Attached, Insulated Doors, Private Storage, Tennis Court
  • Interior: 9 Ft + Ceilings, Recessed Lighting, Walk-In Closet, 1st Floor Master Bedroom, Dining Area, MBR Bath, Pantry, Fire Sprinkler, Eat-In-Kitchen, Double Vanity
  • Restrictions: Assoc Restrictions, Architec Des
  • Style: Other
  • Allowable Onsite: Pets
  • Siding: Vinyl, Stone
  • Green Certification: Other
  • Sewer: Public Sewer
  • Water: Public Water

APPLIANCES INCLUDED

  • Dishwasher
  • Dryer
  • Microwave
  • Washer

ROOM TYPES

  • Walk-in closet

CONSTRUCTION

  • Roof type: Asphalt
  • Stories: 1
  • Structure type: Modern

OTHER

  • Floor size: 1,710 sqft
  • Heating: Gas
  • Unit floor #: 4


Beautiful Condo in Midlothian for sale!





1201 Westwood Village Ln UNIT 403, Midlothian, VA 23114

2 beds2 baths1,710 sqft

 FOR SALE 
$239,500 
Price cut: -$10,000 (10/29)
Zestimate®:  $235,846 
EST. MORTGAGE
$877/mo

**Price Adjustment** Motivated sellers who built the perfect condo already. Why build when this is move in ready with tons of upgrades? Welcome to Westwood Village at Charter Colony. Enjoy maintenance free living in stunning unit in an elevator equipped condominium with secured access. There is a beautiful eat-in kitchen granite counters, stainless steel appliances, tile backsplash, gas cooking, under cabinet lighting and recessed lights. The great room includes a fireplace. The owners bath  More 

WHAT I LOVE ABOUT THE HOME

This condo is bright and airy with cathedral ceilings and a homey feel. Tons of space with lots of modern touches. Nothing to do but move in and enjoy life!

OPEN HOUSE

  • 11/13 1pm-4pm

FACTS

  • Condo
  • Built in 2015
  • 41 days on Zillow
  • Views since listing: 1,278
  • All time views: 1,279
  • 10 shoppers saved this home
  • HOA Fee: $240/mo
  • Cooling: Central
  • Heating: Forced air
  • Laundry: In Unit

FEATURES

  • Ceiling Fan
  • Controlled Access
  • Elevator
  • Flooring: Carpet, Linoleum / Vinyl
  • Patio
  • Pool
  • Porch
  • Security System
  • Tennis Court

ADDITIONAL FEATURES

  • Fee Period: Monthly
  • Pool Desc: Community/Off Site
  • Property Type: Condo/Town
  • Roof: Dimensional, Asphalt
  • Structure: Frame
  • Wall Type: Drywall
  • Year Blt Desc: Actual
  • Attic: No Attic
  • Disclosures: Listing Attachment
  • New Resale: Resale (occupied at least once)
  • Property Sub Type: Condominium
  • Amenity: Association, Elevator, Landscaping, Maintenance Free, Common Area, Clubhouse, Playground, Jogging Path, Kiddie Pool, Lifeguard
  • Exterior: Irrigation System, Screens, Storage Shed Attached, Insulated Doors, Private Storage, Tennis Court
  • Interior: 9 Ft + Ceilings, Recessed Lighting, Walk-In Closet, 1st Floor Master Bedroom, Dining Area, MBR Bath, Pantry, Fire Sprinkler, Eat-In-Kitchen, Double Vanity
  • Restrictions: Assoc Restrictions, Architec Des
  • Style: Other
  • Allowable Onsite: Pets
  • Siding: Vinyl, Stone
  • Green Certification: Other
  • Sewer: Public Sewer
  • Water: Public Water

APPLIANCES INCLUDED

  • Dishwasher
  • Dryer
  • Microwave
  • Washer

ROOM TYPES

  • Walk-in closet

CONSTRUCTION

  • Roof type: Asphalt
  • Stories: 1
  • Structure type: Modern

OTHER

  • Floor size: 1,710 sqft
  • Heating: Gas
  • Unit floor #: 4