6 Tips for Choosing the Best Offer for Your Home Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers. Read Visit houselogic.com for more articles like this. Copyright 2016 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Victoria Falls Market Watch/Active Single Family/Villa Style Homes
Victoria Falls Market Watch/Active Single Family/Villa style homes sales report summarizes the available properties for sale through October, 2016. The Victoria Falls housing market continues to be strong because of a low sustained inventory of available housing choices for seniors with the amenities for an Active Adult lifestyle. Victoria Falls Market Watch – Single Family-Villa Styled Homes summary of Active properties follows: Active Rental – 7301 Floating Leaf Ct. – List Price: $2,850 - Approximate tax living area: 2,060 sq. ft. This Thoreau (largest SFH) model features 4 bedrooms, 3 full baths, gas fireplace and attached 2 car garage. Days on market – 73. Active Rental - 13129 Summertree Way – List Price:$2,850 - Approximate tax living area: 3,454 sq. ft. This Drees End Unit villa features 4 bedrooms, 2 full baths, half bath, gas fireplace and 2 car garage. Days on market – 49. Active – 13123 Brooktree Ln. – List Price: $395,00 - Approximate … [Read more...]
Victoria Falls Market Watch/Single Family/Villa Styled Homes Sales Report
Victoria Falls Market Watch/Single Family/Villa styled homes sales report summarizes the sold properties for Single Family and Villa styled homes through October, 2016. There were eight sales of single family and villa styled homes during this period. Closing Cost assistance to the buyer of $11,397 was provided in only one of the sales. We were fortunate to close on the highest sales price of $502,500 for a single family home ( Thoreau model) on Near Thicket Way. Victoria Falls Market Watch/Single Family/Villa Styled Homes Sales report summary of sold properties follows: Sold - 7202 Paperbark Ter. – List Price: $369,900 - Close Price: $369,900 – Close Date: April 29, 2016 - Seller Subsidy: $ 0 - Tax living area: 1,958 sq. ft. Days on market – 2. Sold - 13502 Autumn End Ter. – List Price:$379,900 – Close Price: 379,900 Close Date: August 5, 2016 – Seller Subsidy: $11,397 - Tax living area: 2,022 sq. ft. Days on market – 27. Sold - 7311 … [Read more...]
First Time Home Buyers
First time home buyers should realize that real estate is a long-term investment. And, a sure way to build wealth and enjoy the tax advantages of home ownership. Renting offers little financial advantages, but provides a peace of mind and worry free living. Plus, renting provides the landlord with tax and equity advantages that you should benefit from as a buyer. Now, is the time for first time home buyers should seriously think about investing in a home. First time home buyers will take advantage of the below market interest rates and other government down payment assistance programs. The current market has seen a rise in home prices due to the lack of inventory - seller’s market. In a few years, the property you purchase today will be worth more in the future. The first step in the home buying process is to contact a mortgage lender to determine your buying power. A Realtor can refer you to a lender in your local area. A mortgage lender will check your … [Read more...]
Maryland Mortgage Program (MMP)
Maryland Mortgage Program (MMP): Maryland Mortgage Program (MMP) DROPPED their credit score requirement to 640 on conventional financing up to 97% LTV. Now - Home buyers who qualify for a Federal Housing Authority (FHA) mortgage loan can easily go conventional under this program because the MMP sets the debt to income limit at 45% which follows conventional guidelines exactly. The MMP program also have a flat interest rate for all buyers. It is not credit score dependent when determining the interest rate as traditional conventional loans. This means a lower score buyer will still receive a great rate! And, buyers only have to put 3% down instead of 3.5% under FHA requirements. Be mindful that the seller can only contribute up to 3% of the closing costs if the LTV is above 90%. Here is a quick look at the Maryland Mortgage Program (MMP)... If you have not owned a home in the past three years in the State of Maryland, there is an EXCELLENT chance you are … [Read more...]
Victoria Falls Market Watch – Single Family and Villa Home Sales as of May, 2016
Victoria Falls Resort Club Victoria Falls Market Watch – Single Family and Villa Home sales as of May, 2016 provide a quick snapshot of the real estate market activity within the Victoria Falls Community from January, 2016 until today. A low inventory of available homes and increasing sales prices continue to define the residential real estate market across the country and in Victoria Falls. There were two Single Family Homes (SFH) closed during this period. One SFH settled at a low closed price of $455,000; another closed at a high of $475,000. In addition, one villa closed at $369,900. According to MRIS property data there was no seller’s subsidy to the buyer in any of the sales. Victoria Falls Market Watch – Single Family and Villa Home sales as of May, 2016 activity summary follows: Sold -7202 Paperbark Terrace - List Price: $369,900 - Closed Price - $369,900 - Closed Date: April 29, 2016. No seller’s subsidy to buyer. Days on Market – 2. Approximate tax living … [Read more...]
Victoria Falls Market Watch – Single Family And Villa Homes as of May, 2016
Victoria Falls Market Watch – Single Family and Villa Homes as of May, 2016 provide a quick snapshot of the real estate market activity within the Victoria Falls Community from January 2016 until today. A low inventory of available homes and increasing sales prices continue to define the residential real estate market across the country and in Victoria Falls. Currently, there is one Active Single Family home available for $524,900. One Craftsman style villa listed for $374,900. And, two Villas listed under the “Coming Soon” status in the MRIS database for $379,900 and $434,900 respectively. Victoria Falls Market Watch – Single Family and Villa Homes activity summary follows: Active -13609 Autumn End Terrace - List Price: $524,900 - Days on Market – 6. Approximate tax living area: 2,174 - $241.45 per square foot. This Thoreau model features four bedrooms, two full baths, and a half bath, fireplace and two car garage. Active -13103 Summertree Way - … [Read more...]
Victoria Falls Market Watch – Condo sales – 2016
Victoria Falls Market Watch – Condo sales - 2016 have been extremely strong! Market values continue to increase with sales prices driven by lack of inventory, increased buyer's demand, previous sales data, documented upgrades and square footage of each condo unit. MRIS Residential Stats – Analysis report compared: Condo prices when initially listed vs. Price at time of sale. The report totals indicate that the high list price was $279,900 and the sold Price was $276,400 which equates to 99.65 % of list price. Victoria Falls Market Watch – Condo sales - 2016 Contract Pending – 13601 Belle Chasse Blvd. #214 – List Price: $249,900. Close Date: 02/26/2016. This is a Fannie Mae HomePath property. This home features two bedrooms, two full baths, living room, dining room and one car garage space. Buyer pays all transfer taxes under the Homepath program. Go to www. Homepath.com - www.fanniemae.com for more information. Approximate Tax Living Area: 1,875 sq. ft. Days … [Read more...]
Victoria Falls Market Watch – 2016
Victoria Falls Market Watch - 2016 – Single Family/Villa Styled Homes (SFH) summarizes the SFH and Villa styled homes market activity for 2016. Market values continue to increase as sales prices are driven by lack of inventory, increase in demand among active senior buyers. And, local or relocating buyers who are looking to downsize to enjoy the amenities in an active adult community. The average days on the market during 2015 averaged around - 46.15 days. The most recent sale of a detached home on Doublerock Ct. went under contract within 31 days. Wow! Now, here is the latest market update regarding Single Family/Villa Styled Homes…… New to the Market - Active - 7402 Forests Edge Ct. - List Price:$499,000. This Michael Harris Thoreau model (largest) is located on the first cu-de-sac in Victoria Falls. This home features four bedrooms, three full baths and a two car garage. Tax living area: 2,259 sq. ft. Days on the market: … [Read more...]
Grant monies are back
Grant monies are back! The Federal Home Loan Bank replenished their funds for 2016. They are limited though and will go very fast because the grant is very popular and easy to obtain for buyers. Federal Home Loan Bank offers $5,000 to first time home buyers if they contribute a minimum of $1,250 into buying their home. And those monies can actually be gifted as well. Buyers can actually contribute less monies but their grant will be reduced because it is based on a 4:1 ratio. For example, if a buyer wanted to obtain $2,500 of grant monies then they would only have to contribute $625 or half of the $1,250. And the fees they pay upfront can be used to meet their contribution so the earnest money deposit and appraisal fee can be used towards their minimum contribution. Here are some other reasons to consider this grant over the other grant programs if a buyer's income qualifies under it. The grant is forgivable after 5 years entirely. If a buyer vacates … [Read more...]