New Homes in Loudoun County, Virginia, Buyer REBATE

LOUDOUN COUNTY VA SAT SCORES 2008.

Loudoun County home buyers often ask about the public schools and, as can be seen below, the report is favorable.  While the SAT scores are not the total measure of a public school's value, it is the most often asked by buyers. 

Loudoun County Public Schools have been on a path of excellence since the dramatic growth in high tech employment in the area.  Proximity to Dulles International Airport and significant benefits to high tech employers helped this critical business sector grow over the years.  Loudoun County Public Schools made important curriculum and equipment investments to be "state of the art" for public education in the 21st Century. 

• --Average Income Families W/Children $ 125,000
• --Median individual Income about $108,000
  --Average Age 33.5
  --Percent Married 65.3
  --Percent With Children 43
  --Percent High School Graduates 94.9
  --Percent College Graduates 56.5
  --Average SAT Scores 1049
  --Expenditures Per-Student $ 9,255
  --Land Area Square Miles 519.9
  --County Population 169,599
  --Population Density Per Sq. Mile 326
  --Population Growth Rate (5 yrs) 6 % annualized over 5 years

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

TERMITE INSPECTIONS.  HOME BUYERS SHOULD ALWAYS INSIST ON HAVING A TERMITE INSPECTION.

TERMITE INSPECTIONS ARE REQUIRED FOR GOVERNMENT GUARANTEED OR INSURED LOANS.  When you apply for mortgage financing, many lenders will require a recent termite inspection and certification as a condition for home loan approval. The inspection must usually be done within 30 days of settlement.  Many conventional loans do not require a termite inspection.  Many agents will require a termite inspection to protect our home buyers.  Most government loans, Veterans Administration Home Loans and FHA loans require a termite inspection. Your agent will usually schedule and attend the termite inspection and make sure that their buyer or seller clients are protected. 

CHECK WITH YOUR AGENT FOR THE PROCEDURE IN YOUR STATE.  States differ in the custom of ordering termite inspection.  In most cases, the buyer's agent or listing agent will make the arrangements for the termite inspection company to get access to the property and deliver the Certificate to the lender, the seller or to the agent who ordered the inspection.

A TERMITE INSPECTION IS THE BEST BUY IN TOWN.  Termite inspectors typically charge $50-60 depending on home size.  Inspectors inspect for active and past infestations and prior damage left by previous infestations. In many states, the buyer pays for the inspection and the sellers pay for treatment/repairs.  If the buyer is using a VA loan, the fee for the termite inspection will be charged to the seller.  Also, FHA financing does not always require an inspection.  However, if the appraiser makes it a condition of the appraisal, it will have to be performed. 

Since the customs covering termite inspections differ in many states, ask your agent or refer to your Contract of Sale for the procedure in your area.  If there is an active colony of any wood destroying insect, the contract generally will require that the seller have the infestation treated prior to settlement and any damage resulting from the infestation repaired. In many states, there is a limit of 1-2% of the purchase price to cover treatment and repairs. Rarely does treatment and repairs cost more than 2% of the contract price. The termite clause in the Maryland Residential Contract of Sale is negotiable. What isn't negotiable is that many lenders require a Certificate.

TERMITE INSPECTIONS TAKE ONLY MINUTES.  The termite Certificate is usually good for 30 days, so most agents will order the termite inspection approximately one-two weeks before scheduled settlement. If settlement is delayed beyond 30 days of the Certificate, it will have to be updated.  The inspection will take only 10-15 minutes.  Homes with crawl spaces may take longer, but due to the moisture available, this is a critical area for inspection.

MEET THE BOROSCOPE.  Termite inspections are visual and include the interior and exterior of the residential building and generally do not include fencing or out-buildings.  However, if a fence is attached to the house or within inches of the property, many appraisers will require that the fence be included in the inspection.  Many termite inspectors use a Borescope which enables them to inspect behind the walls in areas not accessible for a visual inspection.  Other high tech equipment uses heat sensors to detect insects behind the walls and baseboards. 

PRIOR DAMAGE.  If the termite inspector finds evidence of prior infestation that has been treated but damage has not been repaired, the Contract of Sale in many areas will require that damage be repaired by the seller prior to settlement. Home owners can avoid termite damage repair only so long.

TERMITES ARE VIGOROUS AND HARDY CREATURES.  Termites date from the Early Cretaceous about 130,000,000 years ago.  Humans are believed to have evolved only about 5,000,000 to 7,000,000 ago. 

Many states are home to some vigorous and hardy termite colonies. They thrive on a moist climate, wood frame homes and mulch that most home owners use in flower beds.  Wood frame flower boxes close to a home are particularly attractive to termites. 

PROTECT YOUR PROPERTY.  Home owners should have a termite inspection performed by a licensed company every year. Once you have had a colony eradicated, you never know when they'll be back. Better be safe than sorry. $50 is not much to pay for peace of mind.

Be wary of home sellers who claim that the house is "protected with a termite company warranty".  Quite often home owners neglect regular inspection because they have a "warranty".  The warranty will usually provide for treatment under the warranty if, during the warranty period, an infestation is discovered.  However, the inspection is critical.

"DIDN'T THOSE TERMITES READ MY WARRANTY"?

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988,  

Available for First Time Home Buyers in Northern Virginia, $8,000 for buyers who close on their home purchase on or before November 30, 2009. 

The credit is available to home buyers in all counties in the Homefinders.com market area in Northern Virginia. 

ALERT! First Time Home Buyers $8,000 Tax Credit DEADLINE to close your purchase is November 30, 2009. Time is running out.

The FIRST TIME HOME BUYERS TAX CREDIT* is here.

$8,000 TAX REFUND is now available for home buyers of Northern Virginia who purchase a home between and close before December 1, 2009.

A first time home buyer is someone who has not owned real estate for the past 3 years.

Explanation of legislation HERE.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

WARNING!  MAKE SURE THE HOME YOU SELL IN LOUDOUN COUNTY IS ON A ROAD MAINTAINED BY VDOT.

If your new or resale home is on a road maintained by VDOT (Virginia Department of Transportation), you'll see the skilled Loudoun County maintenance crews out doing their job, for you.

If you have a serious pothole or other road problem, washout, shoulder deterioration, etc., give VDOT a call and/or send them an e-mail and they'll schedule repairs. 

VDOT Services 

If you are a home buyer, make sure you check with VDOT to determine if the home you're considering is on a VDOT maintained road.  Otherwise, make sure your HOA has a procedure and is collecting funds to provide for road maintenance.  If there is no HOA, which is the case in many rural communities and the road is not covered by VDOT, think twice because that pot hole will appear and someone is going to have to make repairs.  Dirt roads should be scraped and gravel worked in at least once in a while to keep the surface dust down and manage pot holes. 

Loudoun County communities with gravel/dirt roads require regular maintenance to remain safe to drive.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, e-mail. 

Loudoun County Virginia Map

ENERGY AUDITS ARE A HOT TOPIC. 

• Are they required? 
• If so, where are they required? 
• What's included? 
• Who performs them? 

INQUIRING MINDS WANT TO KNOW.

Crystal Kilpatrick, a new ActiveRain member, posted a short article about energy audits for homes selling in Austin, TX.  The post left me with more questions than answers. 

See:  Energy Audits in Austin.

I learned quite a bit about energy audits at a recent CE class in my quest for "environment" or "green" credentials.  However, I am still in the learning phase and when I see the word "energy" it sparks my attention.

Are you familiar with the techniques and equipment used by the service providers?  Are you familiar with:

• Blower Doors,
• Infrared Cameras
• Thermographic Scan
• PFT Air Filtration Measurements

It appears that agents and brokers are going to need to be familiar with these techniques, equipment and service providers. 

WHAT ARE YOU DOING TO WIDEN YOUR KNOWLEDGE OF the changes coming in how we agents handle requested or required "ENERGY AUDITS"?

WATER FRONT HOMES IN NORTHERN VIRGINIA, the waterfront premium has helped waterfront properties maintain value. 

AVERAGE PRICES FOR WATERFRONT PROPERTIES IN NORTHERN VIRGINIA.  Prices reflect Single Family detached residences except for Alexandria City which are town homes. 

Don't forget.  Natural waterfront is a finite resource. 

Alexandria City waterfront homes are located along the Potomac River across from Washington D.C. offering an average price of $1,653,056.  These homes are large town homes in communities with a view of the Woodrow Wilson Bridge to Maryland and the Ronald Reagan Airport across the water.  All townhomes in Alexandria City have an average price of $922,748. 

Arlington County (city) has few waterfront properties and as of 2009, there is one estate home on the Potomac River offered at $8,850,000.  All homes in Arlington County have an average price of $980,529.

Fairfax County waterfront homesare along the Potomac River as it wraps around the county in the North and East and along the Occoquan River in the South.  The average price for waterfront homes in Fairfax County is about $2,785,040.  Average price for non-waterfront homes in Fairfax County have an average price of $1,069,519.

King George County offers many waterfront homes with acreage along the Potomac River (wide water) with waterfront community and water front estate homes.  The average price for waterfront properties in King George County is $1,108,652.  All King George County properties average $410,983 homes in price.

Loudoun County waterfront homes are on two beautiful rivers, the Potomac River in the East and the Shenandoah River to the West.  These rivers in this area are shallow, fast flowing and offer wonderful Bass, Smallmouth and Largemouth fishing.  This is a rural area and many home sites offer beautiful mountain views.  Average price for waterfront homes in Loudoun County is $1,697,934.  Loudoun County average price for all homes is $837,982.

Prince William county waterfrontoffers home sites primarily on interior fresh water lakes or reservoirs, Lake Jackson in Manassas and the Occoquan River in Occoquan.  These are both popular fresh water empoundments with waterfront home sites popular as second homes or weekend retreats.  The Occuquan Reservoir offers excellent Largemounth Bass fishing.  The average price is $929,910.  Average price for all homes for sale in Prince William County is $472,628.

Stafford County waterfront homesare on the Potomac River, Aquia Creek which is a contributory to the Potomac River and on the Rappahannock River at Fredericksburg.  Stafford offers waterfront prices in good prices with an average of $760,509.  Aquia Harbour is a popular waterfront community in the northern area of Stafford County.  The average price for all homes in Stafford County is $394,530.

Contact us for a tour of waterfront homes in Northern Virginia,

Lenn Harley, Broker, Homefinders.com, 800-711-7988. 

Search for waterfront homes for sale in Northern Virginia.

Alexandria Waterfront on the Potomac River

Fairfax County on the Potomac and Occoquan Rivers

Loudoun County on the Potomac and Shenandoah Rivers

NEW HOMES IN LOUDOUN COUNTY are always a pleasure to show and sell.  Loudoun County new homes are near and dear to my heart since I live in one.  Well, my home in Lovettsville is 3 years old now, but I purchased new in Loudoun County after exhaustive research into many areas in Maryland and Northern Virginia.  Loudoun County offered the value and growth that I wanted.  Western Loudoun County offers the open spaces and atmosphere that gives a wonderful quality of life. 

THE LOUDOUN COUNTY NEW HOMES MARKET IS VIABLE AND EXCITING.   When I find a special opportunity for new home buyers in Loudoun County, I want to

   Shout about it!  Hey, folks looking for a new home in Loudoun County, I found a "new home sale". 

   Write about it!  Details are below.  The message? Toll Brothers in Waterford Ridge is "having a sale".

   Offer incentives!  Homefinders.com has offered a New Home Buyer REBATE for years.

NOW FOR THE DETAILS OF THIS SPECIAL NEW HOME SALE in Waterford, Virginia.

THE COMMUNITY.   Waterford Ridge.  The most beautiful Loudoun County luxury home community.

OPPORTUNITY TIME FOR BUYERS OF LUXURY HOMES IN LOUDOUN COUNTY VIRGINIA:  August 2 through August 9, 2009.  We will be glad to take you one a tour of the community and surroundings at any time.  To qualify for the special promotion, contract must be written between August 2 and August 9, 2009.  However, the builder has agreed to accept lot holds for our buyers in advance of the SALE dates.  Lot holds are FREE and can be cancelled at any time.  Call if you have any questions, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

Base prices for homes in Waterford Ridge are:

*Square feet does not include unfinished basement.

SPECIAL INCENTIVES:

1. $150,000 in structural and designer center upgrades for $75,000. 
2. FREE hardwood upgrades, FREE granite upgrades, FREE insulation upgrades, FREE Kohler Kitchen Faucet and Sink upgrades and more.
3. No lot premiums.
4. Walk-out or Walk-up basement, no charge.
5. Homefinders.com New Home Buyer REBATE.

VALUE OF SPECIAL INCENTIVES:

• 1.  $75,000
• 2.  $32,450
• 3.  $25,000 average.
• 4.  FREE Walk-out or Walk-up basement - $10,000 value.
• 5.  $15,000.

TOTAL SAVINGS TO YOU if you buy during this sale period, August 2-9, 2009, about $157,000.

EXAMPLE OF THE BEAUTIFUL HOMES AT WATERFORD RIDGE

You'll appreciate the luxury features in these lovely homes.  The homes and the community offer a blend of house and community that is unmatched in Loudoun County new homes. 

For a tour of this spectacular new home community in Waterford, Loudoun County, Virginia, contact:

Lenn Harley, Broker, Homefinders.com, 800-711-7988. 

FIRST TIME HOME BUYERS IN PRINCE WILLIAM COUNTY ARE HAVING A HARD TIME COMPETING WITH CASH INVESTMENT BUYERS. 

• In June 2005, there were 5 homes sold to CASH investment buyers. 
• In June 2008, there were 116 homes sold to CASH investment buyers.

CASH vs. FHA?  Because of the low down payment for FHA financing, 3.5%, most owner occupant buyers are financing with FHA insured loans.   However, they are having a hard time competing with CASH buyers who buy homes with no inspections, no contingencies and quick settlement.  The bank owned properties are particularly attractive to both first time home buyers and investment buyers.  However, the banks are selling to investment buyers even at prices lower than contract offers from other buyers.  CASH IS KING!! However, most investor buyers are looking for bank owned properties in the $200,000 price range and these homes often need extensive repairs and upgrading.  Investors are buying to rehab and rent or hold and then resell. 

MORTGAGE FINANCING HAS CHANGED IN THE PAST FEW YEARS. 

Prince William County Virginia homes are also popular with military home buyers stationed at Ft. Belvoir and the Pentagon.  VA financing is accepted throughout Northern Virgina, especially near military bases. 

This home is the typical style available to home buyers in Woodbridge / Dale City in the $300,000 price range.   

INVESTORS ARE BUYING BANK OWNED HOMES in PRINCE WILLIAM COUNTY WITH CASH.  However, short sale listings offer good opportunities for home buyers using FHA and VA financing.   Our agents are experienced managing short sale contracts for residential home buyers.  

TIME IS RUNNING SHORT FOR THE $8,000 TAX CREDIT.  In order to qualify for the First Time Home Buyer Tax Credit of $8,000, the contract must close November 30, 2009 or earlier. 

                                                    PRINCE WILLIAM COUNTY VIRGINIA MAP

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

SEARCH LISTINGS in Prince William County, Virginia and you can view all active listings offered for sale in the Homesdatabase.com site. Homesdatabase works like the Multiple List System, MLS, works for real estate agents. You can search by location, price, features, style, lot size and more. Enjoy and when you find the homes you'd like to tour, contact us. You can also enter your information for daily updates.

AS THE REAL ESTATE MARKET CHANGES, SO TOO DOES HOME MORTGAGE FINANCING IN LOUDOUN COUNTY.

LOUDOUN COUNTY IS A LARGELY RURAL COUNTY IN NORTHERN VIRGINIA.  However, over the past 10 years or so, significant growth in high tech, information management, Internet services and other businesses have located in Northern Virginia and changed the nature of residential real estate and real estate financing.  Higher density development made homes affordable for the new high tech employment sector.  Popular Loudoun County public schoolsencouraged many families to relocate from Fairfax County to the more bucolic atmosphere in Loudoun County, where the horse population likely exceeds human residents.  Loudoun County real estate offers lovely communities without the traffic congestion of more urban areas. 

BUILD IT AND THEY WILL COMEwas the theme for areas in the Dulles Corridor, Ashburn, Sterling, Leesburg and South Riding in Loudoun County.  Rezoning communities for 1/4 acre development permitted home pricing in a price range where the average local employees in the high tech sector could qualify for wonderful new homes.  New home development has been vigorous and even in our slower market, has thrived for over 10 years. 

FHA FINANCING GAINING in POPULARITY over CONVENTIONAL LOANS in Loudoun County.  With the collapse of the mortgage market, conventional loan underwriting and funding practices have presented significant barriers to many home buyers.  However, an increase in the loan limit for FHA insured loans have offered opportunities for home buyers to buy and obtain financing with very low down payments. 

The FHA loan limit for Loudoun County Single Family residential home is $729,750.  The down payment for FHA financing is 3.5%.  Also, the seller can pay up to 6% of the contract price of the home towards the buyers closing costs.  See:  FHA Loan Limit.

The average price for a Single Family Colonial Home in Loudoun County constructed 2000 or later with 4 bedrooms, 2 full and 1 half bath, 2 car garage on a lot of about 1/4 acre, is about $530,000, well within the FHA financing limit 

COME TO LOUDOUN COUNTY VA.  YOU'LL LOVE IT HERE!

Loudoun County VA Real Estate and Homes,  Experienced agents for Loudoun County Virginia Home Buyers.  Loudoun County has the largest horse population in Virginia and the third highest in the country.

                                                                        LOUDOUN COUNTY MAP

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

ELIZABETH WARREN, CHAIR OF THE CONGRESSIONAL OVERSIGHT PANEL.

Professor Warren has been a voice of sanity among the purveyors of a preponderance of prepared, befuddled, concealing, deceiving, whitewashing and self serving statements from Congress and the Executive offices charged with representing the American home owners.  Or, do they really represent us?

This morning I heard a statement from the mouth of a government spokesperson that resonated as so simple, so pithy, so true, it bears repeating.

"The American economy will not recover until the American home owners can recover."

IT WAS A VOICE IN THE WILDERNESS!

Professor Warren clearly understands that the key to the recovery of the economy rests on the American consumer.  No doubt she also understands that no economy can reach the productivity goals and expectations of the prognosticators when about 20% of the American consumer has been literally taken out of the economy in order to pay for a home that is draining the life blood from their budget, by loss of credit due to loss of home, loss of income due to loss of job and so much more injury to the American consumer. 

Wall Streetis not the American economy.

The banks are not the American economy.

The consumer is the American economy.

                                      "Honey, are we going to be able to recover from our financial mess?"

                                        "Perhaps Dear, if the folks in charge ever begin to think about us."

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.