Here Come the Buyers!

Believe it or not home buyers have begun searching for their dream homes!   We are already seeing multiple offers on properties, not just on our properties in the DC Area, but here in the Bristow area too!

If your home is for sale and you are not getting any traffic, take a step back and make sure your home is priced right for today’s market.   This is definitely a difficult thing to do if you bought in the past couple of years.   In addition, we have the influx of  foreclosures that are adding to the declining prices of homes in our  area!  

Unlike other areas that are also in a declining market, we live in a very transient area of the United States.   There will always be buyers in are area and our homes will always be in demand.    

Are You Living Next To A Foreclosure?

Our country’s foreclosure mess has created an unforeseen crime problem in many of our area neighborhoods.

Please keep a sharp eye out for kids lurking around these vacant homes.   Foreclosures have become a safe haven for drug dealers, gang activity and vandalism.  

Foreclosed homes  also have begun to attract a new type of clientel.     The homeless find these homes very attractive because it provides them shelter.    Just the other day, one of my co-workers shared a story about when  she was showing a vacant foreclosed home.   She opened one of the closet doors and to her surprise, there was a man sleeping on the floor!

If you see anything strange going on in  or around a foreclosed home please call the police or call the number of the REALTOR on the For Sale sign.  

Open House on February 16, 2008 at 12841 Rannoch Forest Cir.

On February 16, 2008 at 12:30 PM, you are invited to an Open House at 12841 Rannoch Forest Cir. in Bristow. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

*Project Lifeline*

The President of the United States and some of the top lending institutions in our country are announcing a new program to try to deal with  the continued  housing slump.   This new program will help homeowners that are on the brink of losing their homes.   Qualified homeowners facing foreclosure will be able to put the foreclosure process on hold for 30 days.   This program will be available  to homeowners with all types of mortgages, not just high-cost subprime loans.   Hopefully, this initiative will do more than just pause the process.   As details emerge,  I will keep you posted.

Countrywide’s Subprime Bailout is Extented

We are living in a market where there is  at least  1 foreclosure on every street in our area.   Financial institutions around the country are starting to feel the heat.  

In a move to  help  slow down  the flooding of foreclosures, Countrywide is extending programs that assist  borrowers.   The assistance is even being extended to individuals that are behind in payments.


 

Open House on February 10, 2008 at 14500 Swordale Lane

On February 10, 2008 at 12:00 PM, you are invited to an Open House at 14500 Swordale Lane in Bristow. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

FICO Gets a New Look!

 

Fair Isaac Corp. is in the process of coming out with a different way to forsee consumers  FICO credit scores as well as  future default risks.  Fair Isaac Corp. is the  company that contructed the  FICO credit score.
 

*The new design will predict how lenders can offer even more debt to consumers without taking on unnessary risks.

*The update revamps the old credit-scoring formula so that it penalizes consumers with a high debt load more than the earlier version. FICO 08 should increase predictive strength by 5 to 15 percent.
 

*This new design is  expected to be better at determining if a person who has a past history of  defaults and if they are going down a better path.   It also addresses if these people should have higher scores.
 

*According to the company, this updated index can take a look at 3 people with a FICO of 700 and predict which of these individuals could take on an increase amount of debt without defaulting.

BUYERS PLEASE READ!

Engle Homes has filed for bankruptcy protection…They are selling new homes all over our area, including  the Linton Crest subdivision off of Linton Hall Road.   The builders who operate under the name Engle Homes are also known as Tousa Builders.

This is just another reason why it is SO important to have a realtor represent you when buying a new home.  

Rates just keep going down…

This is the 2nd cut in just over a weeks time!   The Fed. decreased the federal funds rate which impacts consumer loans.   Today’s cut was 1/2 of a percentage point, and with last week’s 3 quarter point cut, the key overnight lending rate is now at 3%.   This is the lowest point since the middle of 2005!

The Fed is also  showing signs  of cutting rates even more in the future.   This is the type of aggressive action that we need to stimulate our countries economy!  

Heard enough financial bad news? Here is some good news!

Does all of the negative news from Wall Street have you down?   Here is something that might brighten your day.

Interest rates on home mortgages are at their lowest points in a long time, and homeowners are taking advantage of it.  

According to the Mortgage Bankers Association, home mortgage refinance applications are up 92% since November, and the average rate on a 30 year fixed rate mortgage is down to 5.49%.

Now is a great time to refinance, or upgrade to the home of your dreams.

I have a great resource in my office I can refer you to if you have questions about whether or not you should refinance, or if you have questions about financing that home of your dreams.

Rate Cuts by the Fed

This morning, the Federal Reserve unexpectedly announced it was cutting the federal funds rate that effects consumer loans as well as the discount rate effecting bank loans by three-quarters of a percentage point each. This is a bold move which shows that Fed Chairman Ben Bernanke is following through on his promise to take “substantive action in a timely and decisive manner” to keep this country out of a recession.

Rate cuts typically stimulate economic growth over time by making it cheaper to borrow money for consumption or investment after banks follow the Fed™s lead and lower their prime lending rate for their best customers.

If you have been thinking about selling your home, and upgrading to a more expensive home, now is the time to do it. Homes in our area are selling for a bargain, and mortgage rates are already low and look like they will be going lower real soon.

Open House on January 27, 2008 at 14500 Swordale Lane

On January 27, 2008 at 13:00 PM, you are invited to an Open House at 14500 Swordale Lane in Bristow. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

New Listing: 14500 Swordale Lane

Check out this new Single-family property that I just posted on my Web site. It is at 14500 Swordale Lane in Bristow. This Single-family property has 4 bedrooms and 3 baths. Beautiful colonial on large corner lot. Two story foyer.Living/Dining w/ lots of crown molding.Gourmet kitchen w/ upgraded appliances, w/ kitchen island and large pantry.Huge finished basement with rec. room and two additional rooms. Bath on every level. Master suite with his/her closets. Large custome deck overlooking landscaped yard. Freshly painted. Bank Owned. Call contact for combo.