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It’s everyone’s favorite time of year – tax time! If you bought or sold a house in 2011, remember to bring your HUD1 Closing Statement with you when you’re preparing your tax files. Here are some things to remember: If you bought: Your mortgage company will send you a 1098, which you’ll use to deduct [...]
Posts Tagged ‘buying’
The Home Buying Process from the Realtor Perspective
December 9th, 2011 
Laura I have been in hundreds of homes in just the past few months, all over Northern VA and DC. I know the general layout of the house before I even go into it, just by seeing the outside. I usually know if my clients are going to hate it before we even step foot into [...]
What’s The Difference Between A Home Warranty and Homeowners Insurance?
October 4th, 2011 Laura When you buy a home, inevitably something will break or need repairs, even if you do a home inspection. So when you’re getting ready to go to settlement, you’ll be faced with a few questions: do you want a home warranty and how much coverage should I get under my homeowners insurance policy? Do I [...]
What Sells Better in Arlington: 1 Bedroom Condo or a 2 Bedroom Condo?
July 12th, 2011 Laura You know that old saying: “75% of all statistics are made up”? Well, this is going to fall into that category, expect i’m using numbers provided by MRIS, our local Multiple Listing Service. I was asked “what sells better? A 1 bedroom or 2 bedroom condo?” If you’re strictly looking at resale potential, you’ll want to look [...]
Congress Wants To Require You To Make a 20% Down Payment
May 27th, 2011 Laura The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) became law on July 21, 2010. Section 941 of the Dodd-Frank Act requires financial institutions that securitize mortgages loans to retain at least 5 percent of the credit risk. The Dodd-Frank Act, however, exempts from the risk-retention requirement securities backed exclusively by [...]
How Much Does An Extra Parking Space Add To My Value Or Cost Me As A Buyer?
March 2nd, 2011 Laura Well, that depends on a lot of things. Generally when you’re talking about parking spaces, you’re talking about condos with garages, or communities with assigned parking spots that require a permit. When evaluating potential properties that are traditional sales (i.e. not a short sale or foreclosure), you will always pay a premium for a second [...]
Posted in Arlington 
Tags: arlington condo, arlington real estate, buying, parking costs, selling 
No Comments »FHA Introduces Increase In Annual Mortgage Insurance Premiums, Again
February 16th, 2011 Laura One year ago in April, FHA increased the upfront mortgage insurance premium from 1.75% to 2.25%. Then in October, they reduced it back down to 1%. In just 2 months, we’ll see the Annual Mortgage Insurance Premium go up 25 basis points (a .25% increase). This means your MONTHLY payments will go UP effective April [...]
Posted in Arlington, First-Time Buyers Tags: buying, FHA, fha financing, First-Time Buyers No Comments »“It’s The Best Time To Buy!” Affordability Explained.
November 19th, 2010 Laura John Paulson said in a recent Forbes article: “If you don’t own a home buy one…if you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.” Everywhere you turn people say “now is a great time to buy!” But [...]
Posted in Arlington, First-Time Buyers, Investor Tags: affordability, arlington real estate, buying No Comments »The Differences In Buying A Condo Versus A Co-op
November 16th, 2010 Laura Some definitions from the owning/buying viewpoint: Cooperative (co-op) A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit. Condominium A type of ownership in real property where all of [...]
Posted in Arlington, First-Time Buyers, Investor Tags: arlington condos, arlington coops, buying 2 Comments »Staying In Your Underwater House vs. Renting – What’s More Expensive?
November 10th, 2010 Laura I received a comment yesterday on my blog post, “Our House Isn’t Worth What We Paid: What Are Our Options?” “What about comparing the cost of the mortgage to rent over a long time frame say 10 years? In this region you’re going to conservatively flush $20000/year in rent. The point being would staying in [...]
Posted in Arlington, First-Time Buyers, Foreclosures Tags: arlington real estate, buying, renting, underwater 1 Comment »
