Category: Home Buying

100% Financing IS Available in Blacksburg

For the longest time I’ve been under the impression that 100% loans have not been available within Blacksburg and Montgomery County; those programs just haven’t been available. Then earlier this week, I learned of a program that StellarOne Bank has been offering to do just that. The requirements are: up to $300000 loan value 700 credit score borrower(s) can’t make more than $68800 per household if you’ve had a foreclosure or bankruptcy more than 36 months from loan application, you may still qualify This is potentially really big news for folks who have been struggling to get into the Blacksburg …

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How To Be Sure Your Foundation Isn’t Moving

Is there a way to tell if your foundation wall is cracking and moving? I came across an interesting post the other day from one of our Nest Realty agents in Charlottesville, Jim Duncan. I have said before that most of my good ideas come from other agents and Jim has certainly provided me with many ideas, so it’s no surprise that he would have already covered this issue. Many homes in the New River Valley are built with concrete block foundations and usually have travertine pavers , particularly those built prior to the mid-1990’s. Concrete block foundations are not …

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Buying A Home Where a Violent Crime Occurred

Imagine you’re a buyer. You’ve seen a house a couple of times, and then one day you learn from a local that several years ago, someone had committed suicide in the home that you’re looking at. Now, you don’t know for certain that someone committed suicide there, but you trust your source. Would you still buy the home? Which got me thinking … do buyers really care about that stuff? Do buyers really care that a violent crime, like a murder, happened on the property? My guess was yes, so I posted the question to Twitter and Facebook. The result? YES, buyers …

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Blacksburg-Christiansburg-Radford MSA Among The Safest

I’m admittedly a week or so behind on this news, but it’s relevant nonetheless. Earlier this month, Farmers Insurance named the Blacksburg-Christiansburg-Radford Metropolitan Statistical Area one of the safest places in the country. The MSA, named the 7th safest place to live among small towns (population < 150,000 people), has been on the list before, showing stability throughout the region. What’s it mean for real estate? The impact is pretty simple, people want to live where they feel they and their family can be safe – that’s a no-brainer. Demand drives value, and the area’s housing inventory benefits. Search for …

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How Many Buyers in the New River Valley Are Cash Buyers?

“Cash is king”, they say. And for the last few months, reports have been floating around that as many as 50% of buyers in some real estate markets around the country are using cash to purchase their homes. Fifty percent. The New River Valley of VA isn’t the rest of the country, but I wondered how many buyers in 2013 used cash to buy their real estate. Of the 1476 homes sold in the NRV January 1 through November 30, 21.4% (317) of those transactions were listed as all-cash sales. Not exactly 50%, but statistically significant, I’d say. And that …

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32 Tips for First-Time Buyers

A month or so ago, I was contacted by a guy named Scott Riley, at HomeBuyerNation.com. I don’t know Scott Riley, and I have never heard of his website at HomeBuyerNation.com, but he asked a unique question for a post he was writing, so I played along, expecting that I really wouldn’t hear from him again. Turns out I was wrong. He wanted to know what was the one tip I would give every first-time home buyer. Without a doubt, I told him the number one tip I’d give every first-time home buyer would be to take your time. That perfect house …

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How To Protect Your Credit Score When Getting A Mortgage

A client, who’s buying a house and closing next week, was emailing back and forth with me this afternoon. When I told her we were “clear to close”, she said that this seemed like a good thing, and to let her know if it wasn’t. “Clear to close” just means that all conditions of the loan have been approved, and we’re ready to go, so I told her as long as she stayed employed and didn’t buy anything major that would affect her credit score, but she didn´t really need to worry about bad credit car finance deals so she …

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Robert Shiller Isn’t Saying NOT To Buy A Home

This link has been floating around the internet for a couple of days, and I want to respond. http://www.theatlanticcities.com/housing/2013/10/economist-who-just-won-nobel-prize-thinks-housing-terrible-investment/7240/ As I wrote on someone’s Facebook wall, I have no problem with the article at all – I don’t own a home (that I live in, anyway) either, and my income centers around people buying and selling homes so it’s important to me that people continue doing that. Shiller is VERY highly regarded in real estate circles, and his economic reports are the gold standard. But the title of the article is misleading – Shiller doesn’t say it’s a bad idea …

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