In addition Fannie Mae also announced a six month military forbearance program where the death or injury of a service member on active duty causes a hardship for military families with a mortgage obligation. Don’t know whether you have a Fannie Mae backed loan? Check to see if you have a Fannie Mae Loan.

In the last year I worked with Chase and USAA on a short sale and VA Compromise Sale for military families who qualified under the Fannie Mae guidelines. Just as with any short sale a military service member does have to provide documentation of a financial hardship due to a move. If you are service member faced with a short sale decision check with your lender to see what options they have to offer. If I can be of any assistance give me a call.

Today it’s time to get real.  If you buy a home after January 2012 and don’t get a home inspection you could be in big trouble.   A couple of things to emphasize.  One you need to make sure you attend & pay attention during your home inspection and pay attention and two you need to make sure you are hiring a home inspector that writes a thorough report on any issue that they uncover.

You can no longer sit back and expect the seller is responsible for making sure the HVAC system, plumbing and appliances are in “normal” working order.  If the stove is broken or the kitchen sink leaking and you don’t put the request for repairs on your home inspection contingency then they won’t fix it.

You can still void a contract based on a home inspection, except if you are buying an REO but my experience is that rarely happens.  Perhaps that will change now if negotiations for repairs include items that were required by the seller to repair in the past.  Only time will tell.  As you gear up for home shopping in 2012 remember to ask your agent if they are familiar with the changes to the Virginia Regional Sales Contract and can guide you through the changes.

Just to give you a general idea of what I mean take a look at this chart. It shows the “average” home price for three areas in Northern Virginia. The first is the Woodbridge zip code of 22192, the second is the Springfield zip code of 22152 and the third is the Falls Church zip code of 22046.

You can see a dramatic difference in sales prices for detached SOLD homes over the last 6 months between the three areas. These numbers are averages and for any neighborhood you are considering they would have to be broken down much further to help you make an offer on a particular property. What it does clearly show is as you get closer to DC prices are higher. As you are searching for a new home there are a wide variety of factors to consider. Not only what can I afford but what amenities am I look for in my neighborhood, what will my commute be like and how long do I plan on living here to name a few.

If you want a bigger house heading south to Woodbridge and taking VRE, a commuter bus or joining a slug line may be the right answer for you. If you want to be a bit closer to DC but still want a bigger home than neighborhoods in Springfield might be your cup of tea. If a smaller home where you can walk to the shops and resturants suits you then Falls Church may be the answer.

If you are thinking about buying a new home in the next few months give Cindy Jones and CJ Realty Group a call at 703-346-2213. Let’s sit down and talk about not only the price of the home you want to buy but all of the other pieces of the home ownership puzzle. Let us help you find the right neighborhood for you to call home.

Just as the term “slugging” in Northern Virginia” started as a phrase to describe riders using counterfeit tokens, the term “inside or outside the beltway” started with a different meaning in our area as well. The phrase was originally used politically to describe the fact that most of the power in the DC area was located inside the beltway where the Federal Government is located.

The first written reference to the term is found with the Warren Commission Report about Watergate printed in 1975:

“In the White House of Richard M. Nixon, it was said that Watergate would become serious only if it “got outside the Washington Beltway.”

Guess it got outside the beltway!

Neighborhoods in Arlington, Alexandria, Falls Church and McLean are some examples of neighborhoods inside the beltway in Northern Virginia. Neighborhoods inside the beltway used to lean towards smaller older homes on tree lined lots however there has been a boom of condo developments inside the beltway. With the metro and buses within walking distance, many of the newer neighborhoods quickly gained popularity with buyers wanting to ditch their car for their daily commute.

Outside the beltway has expanded significantly over the past 10 years and some might say that it extends all the way to the Shenandoah Valley where you can find commuter lots for van pools to DC. The selection of neighborhoods outside the beltway is generally more diverse if for no other reason than the space constraints of trying to squeeze homes within a smaller geographic area has been removed. There has been significant new home development outside the beltway in recent years in the western part of Fairfax County, Prince William County and Loudoun County.

So another mystery of local terminology is revealed. If you want to know more about living either inside or outside the beltway give me a call at 703-346-2213.

This owner thought they were making a simple change.  Switch out the lock on their front door with a coded entry so they didn’t need a key.  Guess what?  The condo documents, given to them before they purchased the unit, say NO CHANGES can be made to the entry doors of the unit.  The reason is simple.  To keep a uniform look and feel in the hallways.

After spending hundreds of dollars on the lock set and a locksmith they now have to spend hundreds of dollars to reverse the work done.  Hopefully they won’t have to buy a new door as well.

As boring as those hundred page condo documents appear, they are filled with important information.  In Virginia when you purchase a new condo from a builder you have 10 days to review the documents.  If you are buying a resale unit you have 3.  Use them wisely and read the documents.  If for any reason after you have reviewed the documents you don’t like what they say you can cancel your contract.

Having listed or sold over 30 condos in the last 2 years I’ve become attuned to the issues that will be show stoppers for my buyers.  I also own three condos myself so know what a pain the rules and regulations can be but understand the reason why they exist.   If you are considering purchasing a condo in the Northern Virginia area including Arlington, Alexandria, Fairfax and Prince William Counties give me a call.  Let’s talk about whether condo ownership is the right choice for you.

Today my daughter and her husband live in a condo I own in Parkfairfax. Originally built in 1941 the neighborhood was needed to fulfill the need for affordable housing close to the Federal Government, Pentagon and DC.  Set on 132 acres is known for it’s rolling hills tree lined streets and red brick buildings.

The community has an abundance of amenities including 3 swimming pools, 8 tennis courts, party rooms, exercise room and 2 volleyball courts. Parkfairfax also has the distinction of being the former of home of two past presidents Richard Nixon and Gerald Ford. Both lived in the community prior to taking the highest office in the land.

Residents of Parkfairfax can walk across the pedestrian bridge to the shops of Shirlington. Buses stop at multiple locations in the community to head to DC, the Pentagon or either the King Street or Pentagon City metro stations. My daughter and her husband don’t own a car, almost unheard of in Northern Virginia yet they are able to get anywhere they need to go.

Parkfairfax condos have a few quirks due to their age but with the location and community amenities they are worth a look if you are searching for a new home.

Check out current condos for sale in Parkfairfax.

The new Department of Defense Adminstration building aka BRAC-133 is the largest building in the area.  When it is finished it will have two multi-storied wings of 15 and 17 floors respectively and have over 1.7 million square feet.  Touted as using 30% less energy, 50% less water than other buildings and sporting a green roof the building should be considered a model of green technology.  About 75% of the construction waste is being recycled and trees cut down to build the center will show up as interior paneling in the building.  All of this adds up to USACE’s first project of this scope attempting to achieve the Leadership in Energy and Environmental Design (LEED) Gold Building Certification.

In addition to to the press release about hoping to achieve Gold LEED certification new transportation studies are being released that indicate 57% of the employees who will be working at the new building will be coming in single occupancy vehicles (SOV).  This could add almost 2900 vehicles to the area roads when the complex opens in September 2011.  Anyone who currently drives on I-395 during rush hour knows what this could mean to local roadways.  Nothing green about putting this many additional cars on the road.

It is hard to believe the press would be try and divert local residents from the possible destruction of a loved botonical perserve with the announcement of the “green” benefits of the new building.  Just like myself I’m sure there are thousands of others in the area who aren’t buying it.  Sometimes progress needs to stop and take a look at what it leaves behind.  A green building does not replace a nature preserve no matter how you try and spin it.

You can follow more on the fight to save the Winkler Botanical Preserve on Facebook.

U.S. Army Corps of Engineers photo by Marc Barnes/Creative Commons License

Yesterday was my day to preview the townhouse condos coming up for auction at the Parkside of Alexandria. It appears that the marketing is working. The auction signs are all over the property so you can’t miss where you are supposed to go and while touring we ran into numerous other people previewing the property as well.

The best units as far as community location are the 3 bedroom Jamestown models. Obviously the starting price point for these units at $275,000 is attractive but buyers need to remember that there is a monthly condo fee associated with the larger units is currently $312 per month. The smaller Hamilton models are cute and would work for first time buyers and with a starting price point of $225.000 have a lot going for them. The current monthly condo fee on these units is $220 per month. In talking with a couple of prospective buyers at the property yesterday the condo fee was not something they had considered as they were thinking about monthly expenses.

The nice thing about this auction versus the other auctions that have taken place recently is there is no buyer premium. Part of this is due to the fact that the developer is auctioning the properties themselves and they are only paying a 1% co-op fee to agents. The auction itself takes place on Sunday starting at 2PM at the Hilton at Mark Center on Seminary Road. There will be a practice auction at the units on Saturday afternoon between 5:30–6:30 pm for anyone who is thinking of bidding but is unfamiliar with the auction process.

You must be registered by Saturday at the Parkside of Alexandria sales office if you intend to bid and you must be pre-qualifed by a lender before the auction. Closings must take place 30 days after the auction so you will need to be ready to go if you place a winning bid.

As always don’t get auction fever and make sure you have done your homework before you make a bid!

Related Blogs on Northern Virginia Auctions:

The Fevered Pitch of Northern Virginia Auctions

Only the Name has been Changed to Protect the Innocent

With the rolling hills, tree lined streets, variety of housing and close location to DC Fairlington continues to be popular place for both first time home buyers and long time residents. The community has multiple pools and tennis courts. It is a great walking community and residents are actively involved in maintaining the charming feel of the community. Fairlington addresses cross county and city boundaries of Arlington and Alexandria City.

There are seven communities that make up the Fairlington Community.

Fairlington Villages
Fairlington Arbor
Fairlington Glen
Fairlington Green
Fairlington Meadows
Fairlington Mews
Fairlington Commons
Fairlington Villages

A sister community of Fairlington Townes is located just across King Street.

With the Old Town Alexandria 5 miles away, the new revitalized Village of Shirlington and easy access to DC it is easy to see why after 60 years this community continues to thrive.

Check back often and for monthly marketing reports and if you are interested in about the advantages of living in Fairlington give me a call.

Founded as a railroad community for workers at the nearby Potomac Rail Yard, Del Ray’s history can be tracked back to the mid 1800′s. With the Alexandria area being a major point for multiple train companies no longer in existence, Del Ray was crisscrossed by not only a significant number of train lines but streetcar tracks as well. As the train companies went out of business the fortunes of Del Ray turned as well.

Surprising enough in this day and age of flattening old blighted neighborhoods to the ground, Del Ray managed to survived due in part to a small group of citizens who decided to fight to protect the cottages that line the roads off of Commonwealth Avenue. Now Del Ray once again is a thriving community with a real small town feel.

Neighbors actually spend time on the porches of their bungalows talking to each other. Shop owners have water dishes out for the dogs and the work of local artists can be found in the shops fronting on Commonwealth. The Del Ray Artisans have classes for children that are booked solid every year. If you haven’t had breakfast at St. Elmos or dinner at Evening Star then you have missed a real treat. And of course in the summer the farmers market is the place to meet and greet.

Del Ray was recently featured in both Cottage Living and American Bungalow Magazine. Homes in Del Ray aren’t cheap. You pay for both the history and the location just outside of Washington DC. The owners of 3 Del Ray Avenue invited me in to take a look at their home which is currently on the market for $699,900. It is exquisite and was remodeled and expanded to reflect the original architecture. If you have an afternoon off and want to explore a great area then take the time to check on Del Ray.