January 2008

Found 4 blog entries for January 2008.

Have you ever noticed that everyone seems happy in a Seller’s Market and miserable in a Buyer’s Market? In a Seller’s market there is a rush and a euphoric atmosphere. Sellers are thrilled with the value of their home. Buyers are overjoyed when they are the winning bid on a home. Caution is thrown to the wind. Basic principles and fundamentals are often overlooked. Buyers stretch beyond their means anticipating continued price appreciation, and investors buy anything they can.

In a buyers market we find the opposite. Many sellers truly can’t sell their homes. They may owe far more than the current market value of the home. Perhaps, they feel angry or that they are “giving their house away.” Short sales and foreclosures increase and pull down market

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The current Manassas Real Estate market is challenging and it's hard to know whether it's time to buy, sell, or hold your property. There are large numbers of homes in foreclosure and property values are under pressure. We've experienced at least a 20% decline in property values since 2006, and we continue to experience price uncertainty. Many homeowners and investors are asking some tough questions

  • What's happening in this market?
  • How long will it last?
  • What is this Financial Crisis or Credit Crunch and how does it impact me?
  • How is this market and the Financial Crisis impacting my property values?
  • Is it time to unload my property and SELL NOW?
  • Is it time to look for other investments, elsewhere?
  • Is it
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Here’s wishing everyone a prosperous 2008. 2007 was yet another volatile year for Northern Virginia real estate. Foreclosures and pre-foreclosure inventory has soared and continues to rise. I anticipate additional foreclosure activity as adjustable rate mortgages reset in record numbers.

Western Prince William County experienced record growth in 2005 and 2006, many of these homeowners purchased these homes with adjustable rate mortgage products. As these mortgages adjust and reset, many homeowners are finding themselves unable to afford the increased payment. They may be unable to sell through normal channels due to the decline in market values. Pre-foreclosure options may include loan refinancing, loan renegotiation, or short sale possibilities.

As an…
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Would you like to pay off your mortgage and be debt free? What would you do if you didn't have a monthly mortgage payment? How much disposable income would be available without this debt? Are you concerned that your monthly mortgage payment will adjust in the future? These are some of the questions facing homeowners today. The answers are not always clear and will vary from situation to situation.

I have some great ideas and tips that can help you pay off your mortgage faster and help with your family’s budget. Small adjustments in how you pay your mortgage can make a huge difference. Changes in attitudes can also help achieve financial independence. Please give me a call or shoot me an email. I'll be happy to talk to you about your current housing

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