Victoria Falls Spring real estate market is slowly gaining momentum moving into 2014….Although, the lack of inventory combined with few sales in the VF community have left market values lingering below an acceptable level considering similar properties in the area. The single family homes in the Victoria Falls community usually remain on the market for a long listing period – say 90 – 180 days or more. The Days on the Market (DOM) indicator should improve as the inventory and sales picks up in the peak of the spring buying season. Considering the unique space and style of homes the community home owners should see and increase in values in the coming months. Especially, with the amenities that this community offer VF’s residents.
Fannie Mae, a government controlled mortgage funding organization recently listed a two bedroom, two full baths Craftsman style villa home with a stone exterior for$252,900. This property sit idle for over three years! Now, it’s listed for sale under the Fannie Home Path program. This program is limited to purchasers for the first twenty days. Now, investors have an opportunity to register offers on this property. The rental property on Floating Leaf was recently rented.
The Michael Harris single family home located on Autumn End Terrace is back on the market at the original list price of $415,000! The sellers had previously received an offer within four days of the original listing date.…What an exciting moment for the sellers to receive an offer in such a short period of time. I assume the new buyers could not qualify for the mortgage financing for the property.
There is a new listing on Bircherry Land for $350,000 …..and another home is available at Piney Woods Place for $389,000…If I’m mistaken- the Piney Woods property was previously listed last summer.…The owners of the long standing listing on Shadow Park finally received approval for loan modification of their current mortgage product. Therefore, the sellers withdrew the property from the market for now! A loan modification is usually offered as a trial period loan for a number of designated months before it’s actually finalized.
We were fortunate to close on a Drees style villa home in March of 2014. We showed our clients’ several other properties in the Victoria Falls community before they decided on this former model home. The buyers encountered very little difficulty obtaining their loan product through Freddie Mac Mortgage. However, the lender delayed closing for another week to review Home Owners Association documents and Covenants. We were not sure if the new Qualified Mortgage (QM) regulations that went into effect in January, 2014 had any impact on our delay.
As your Realtor, we will work diligently to ensure a smooth closing… And, to ensure all parties are completely satisfied with the transaction. We love to see our clients smile after closing…A happy state of mind!
If you have any questions or thinking about buying or listing your home gives us a call….We will fully represent your best interest as a buyers’ agent or on the other side as a seller’s agent. And, we will work to obtain the…..Best price with the Best terms!….Give us a call today!