Northern Virginia Real Estate
713 S. Lee Street Listing
May 14, 2012 by Jeff Thomas · Leave a Comment
Click here to learn more about this property: 713 S Lee Street Old - Town Alexandria Kristie Zimmerman
What’s Labor Got to Do with It?
February 14, 2012 by Jeff Thomas · Leave a Comment
The Impact of the Job Market on the Housing Market Being unemployed, under-employed, or afraid of losing a job is never easy. One of the first things many people do in these situations is batten down the hatches and minimize their spending. Certainly, the last thing on their minds is making a major purchase like [...]
2012 Is Here
January 6, 2012 by Jeff Thomas · Leave a Comment
Forecasting What May Be Ahead for Home Loan Rates Fairfax, VA – The good news–despite what the Mayan calendar may say–is that the world probably won’t be coming to an end in 2012. But like 2011, this coming year may bring some significant challenges here in the US and around the world. Read on to [...]
New FHA Flipping Regulations
December 27, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – FHA lenders had reason for cheer and mirth at the end of last week. “In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting FHA Commissioner Carol Galante will extend FHA’s temporary waiver of the anti-flipping regulations.” With certain exceptions, FHA regulations prohibit insuring a [...]
FHA Loan Limits
November 21, 2011 by Jeff Thomas · Leave a Comment
Effective Friday, November 18, FHA has raised loan limits to $729,750. Fairfax, VA – You can check individual counties for limits using this link: FHA Loan Limits Fannie & Freddie’s loan limits remain at $625,500! FHA requires 3.5% down with a higher loan limit. Conventional loans, 5% down with a lower loan limit. Does this [...]
The Scoop on Inflation And Its Impact on Home Loan Rates
November 4, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA CPI, PPI, PCE…sounds like a nice bowl of alphabet soup. But did you know that what lies behind these letters impacts not only YOU every single day…it also bears a very heavy influence on the direction of home loan rates? So pull up a chair, grab a spoon, and let’s dig in to [...]
What happens to my loan if the government shuts down?
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When was the last government shutdown? 1995 was the year. What happened? It was very painful to get through, but no one panicked. And we shouldn’t panic this time. I can assure you 1st Commonwealth Bank of Virginia has prepared all of the loans in our pipeline and we preparing for a [...]
When the property is an FHA “flip”
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When the property in question is an FHA flip. Seller has been on title for less than 90 days. If the sales price is 20% or more above seller’s acquisition cost and the increase in value is due to improvements/renovation to the property: 1. The appraiser is required to verify the repairs [...]
I’ve Got 4 Key Questions about Your Home Loan Situation
June 13, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – The start of summer is nearly here, which means things like baseball, hotdogs, and apple pie are on our minds. But that’s not all the arrival of summer means: 2011 is almost halfway over. That makes now the perfect time of year to make sure your home loan is working for you. [...]
Google Drops Real Estate Listings
January 28, 2011 by Jeff Thomas · Leave a Comment
Google doesn’t give up on much. But it did with this product. http://www.inman.com/news/2011/01/26/google-drops-real-estate-listings
Housing Inventory Snapshot December 28, 2010
January 3, 2011 by Jeff Thomas · Leave a Comment
Housing Inventory Snapshot December 28, 2010 Average List Price Median List Price Average Days On Market District of Columbia (DC), DC Single Family under $1M $367,934 $315,000 126 Single Family over $1M $3,180,091 $2,295,000 149 Condo/Townhome under $600K $286,070 $269,900 125 Condo/Townhome over $600K $1,351,996 $939,500 140 Arlington County, VA Single Family under $1M $660,087 [...]
Home (of Your Own) for the Holidays?
December 24, 2010 by Jeff Thomas · Leave a Comment
Now May Be the Perfect Time to Buy Fairfax, Virginia: There’s no place like home for creating memories. And no place like home for the holidays. While it may sound a bit crazy to add this to your shopping list…this holiday season could be the very best time in history to give yourself the gift [...]
Federal Housing Administration Reform Act
August 11, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – The House of Representatives approved the Federal Housing Administration Reform Act. The purpose of FHAR is to bring stability to the FHA lending program. Currently, FHA loans make up about 30 percent of the loans originated in the US. This is a far cry from early to mid 2000’s when real estate [...]
FHA loans – Changes are here
August 2, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – With the increased role FHA has taken in the lending world since 2007, FHA has experienced an increase of foreclosures which caused FHA to tighten lending guidelines, increase down payment requirements and institute minimum credit score requirements to qualify for an FHA loan. Here are some changes that have been made or are on [...]
First-time homebuyer tax credit extended
July 14, 2010 by Jeff Thomas · Leave a Comment
The Homebuyer Assistance and Improvement Act of 2010 extends the closing date requirement for the first-time homebuyer tax credit from June 30, 2010, to September 30, 2010. This gives qualifying individuals who, prior to May 1, 2010, entered into a binding written contract to purchase a home, an additional three months to close on the [...]
