Northern Virginia Real Estate Blog, Carolyn Capalbo

The future of a historic Northern Virginia landmark is looking uncertain, as developers fail to find volunteers willing to take responsibility for its long term survival.

The Broad Run Tollhouse and bridge, in Loudoun County, was among the first buildings to be placed on the National Register of Historic Places back in 1970, but now the site, which has fallen into disrepair, may be facing something of a bleak end.

Built in 1820, the bridge and original tollhouse served travelers using a section of the Leesburg Turnpike, from Alexandria to the Shenandoah Valley. Although tolls were removed in 1924, the bridge remained in use up until the late 1940s, after which users crossed Broad Run by a newly constructed steel span. The distinctive old stone bridge escaped…
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Those that know me know that there's another Carolyn Capalbo out there; one with a notorious daughter. This little fact has complicated my life, particularly online, where the other Carolyn Capalbo dominates the search results when users type in my name.

To help me get my name back, Real Estate Webmasters and a wonderful community of Realtors have pitched in to help by having a contest to help me rank higher in the search engines.

The response has been amazing, with realtors from around the country showing their support by blogging and spreading the word online. To all those who participate, thank you so much! As you know, reputation means a lot in the real estate industry, and I'm so grateful to get mine back.

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Taking a break or a window of opportunity!

Buyers are taking a break!  Unbelievable as it may seem, just 2 weeks ago, buyers were stepping all over each other, offering higher than ask and appraised value for homes and battling it out in multiple offer situations to capitalize on the Governments tax credit.  And now, it appears that buyers are taking a break.  Showings have dropped by 40% on our current inventory.  We have homes available without any offers for purchase.  That would have been unheard of just 2 weeks ago.  Interest rates are still amazing!!  So how much has the promise of a tax credit influenced the buyer market? 

If you are a person waiting to purchase a home; NOW is the time to act.  If an $8000 tax credit is the only

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Seller’s market continues in Northern Virginia.  As the spring market heats up, we are still facing an inventory shortage here in Northern Virginia.  First time home buyers have less than 30 days to find and contract on a home to have a chance at qualifying for the tax credit.  Many step up buyers also face the clock to qualify for possible tax credits.  In addition, lending is getting tighter and tighter.  FHA guidelines are changing and requirements for homebuyers are becoming more challenging.  If you are purchasing a home and have not reviewed your qualifications in the past week or two, it is imperative that you do so to confirm your qualifications.  With local inventory still so dramatically low below $400,000, it is very important to work

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The following is really important information I received courteously of Mike Farrell at Bank of America that I would like to share with all of you:

 

Hopefully you are watching the news or reading the paper daily.  The economy continues to throw things out daily that have a direct impact on our customers and our business.  Let’s discuss this:

 

In a rare intra-meeting move, the Federal Reserve increased the DISCOUNT rate from 0.25% to 0.75% late yesterday afternoon.  The discount rate is the rate the Fed charges a bank for an emergency loan.  This move was done to wean the banking system off of government credit and encourages them to borrow from private sources.  The governing body cited improvement in the financial sector as the reason for the

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I was doing a little research on line today trying to find updated information comparing short sales versus foreclosures and bankruptcy.  I ran across some interesting investor sites and investor written materials that alarmed me greatly.  The advice given on these sites were to have homeowners work directly with investors to short sale their homes and NOT contact Realtors.  The investors warned against high Realtor fees and said that the banks did not want to work with Realtors because of their commissions.  Several sites boasted that the banks understood investors better and preferred to work with investors over agents.  In addition, one site in particular stated that the banks understood that the investor would need a 15% to 20% profit margin on

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HUD will approve financing on a property that had been previously purchased and rehabbed within the past 90 days.  This is great news for investors and first time buyers alike.  For our FHA buyers out there, this means no more waiting for an investor flip to be eligible for FHA financing.  It has been frustrating to see investor flips only going to those with conventional loans and/or VA loans.  Since over 80% of our first time buyer market is pre-approved for FHA financing this is a huge win and opportunity for our investors and buyers alike.  It could also allow for investors to either, improve their profit margins or increase their initial purchase prices and purchase more homes since their holding costs will go down significantly.  Our buyers out there…
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Happy New Year and Welcome 2010

What is in store for 2010?  That is a huge question.  2009 was a year of tremendous Government intervention.  We realized the implementation of the TARP program (which seems to still be defining itself); the HARP program (Home Affordable Refinance Program) which is limited to Fannie and Freddie owned loans, non-delinquent owner occupants, and for loan to value ratios up to 125%; HAMP (Home Affordable Modification Program) which is eligible for owner occupied borrowers who are delinquent on their mortgages or facing imminent risk of default, whose loan balance is less than $729,750, and have a loan origination date before January 1, 2009; HAFA (Home Affordable Foreclosure Alternative) which allows borrowers who are not

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My recent certification as a Certified Distressed Property Expert gives me added insight into foreclosure avoidance and short sales.  My extensive training in short sales will help direct homeowners to much better alternatives to foreclosure.  Please see below for the public service announcement for more details.

FOR RELEASE: IMMEDIATE

DATE: DEC 21, 2009

CAROLYN CAPALBO EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Carolyn Capalbo of Keller Williams Realty of Manassas, VA has earned the prestigious Certified Distressed Property Expert (CDPE) designation having completed extensive training in foreclosure avoidance and short sales.  This is invaluable expertise to offer at a time when the area is ravaged by “distressed”

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