Information for buyers Archives

Shopping For A Mortgage – What You Need To Know About The Good Faith Estimate

When you are starting your home home buying experience, your REALTOR will be speaking about prequalification, preapproval and loan approval. You will be encouraged to speak with a mortgage professional to make sure that you will be able to obtain a loan and also to find out an estimate of the amount of the loan that you will qualify for. This is a crucial step in determining how much home you will be able to afford. It is heartbreaking to find your dream home only to learn that it is outside of your budget.

I always recommend to my clients that they speak with several different lenders; since different companies will offer different programs. It is important to find not only the best loan for your needs and budget, but also the mortgage officer that you are comfortable with. But when you have obtained your good faith estimates from several lenders, how do you compare them? Jeff Belonger – Infinity Home Mortgage Company has written an excellent post clearly explaining the basics of the good faith estimate.

If you have any questions about buying or selling a Charlottesville home, or the Charlottesville, Virginia real estate market give me a call; I am always happy to speak with you.

Contact

Pam Dent

, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161, pam@JumpintoGreenerPastures.com, to list your property for sale or to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website Jump into Greener Pastures or read my blogs Charlottesville Real Estate Talk and Charlottesville Horse Farms and Country Homes.

11.977 Beautiful Acres in South Keswick

Charlottesville Goes Green – Learn About Alternative Energy Choices

Attend Wednesday’s free Green Matters Workshop and learn about what it learns to go green. This month’s workshop “Passive/Active Solar and Other Alternative Energy Sources” will be held on Wednesday October 8 at the Habitat Store at 1221 Harris St., Charlottesville. This will be the first part of a two part discussion of alternative energy options. Engineering, design, homeowner goals, technological trends and installation will be discussed.

A social hour will be from 5-6 pm.
The workshop will take place from 6-7:30
Networking from 7:30-8

Learn more about the Green Matters workshops.

Interest in “green built” homes is increasing. In the Charlottesville area real estate market we are seeing an increasing number of Energy Star and Green Homes on the market. I would love to show you the homes that are available for the buyer who is concerned with their home’s impact on the environment.

Contact

Pam Dent

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website Jump into Greener Pastures or read my blogs Charlottesville Real Estate Talk and Charlottesville Horse Farms and Country Homes.

Central Virginia September 2008 Market Reports

The beginning of the month is the perfect time to reflect on what has been happening in the area real estate markets. Listed below are links to reports on the various Central Virginia real estate markets.

If you have any questions on the reports and what they may mean regarding your sale or purchase of a Central Virginia home, I would be happy to talk with you.

Albemarle Country September 2008 Market Report

Charlottesville, Virginia September 2008 Market Report

Fluvanna County, Virginia September 2008 Market Report

Louisa County, Virginia September 2008 Market Report

Lake Monticello September 2008 Market Report

Greene County, Virginia September 2008 Market Report

Charlottesville Area Condos September 2008 Market Report

Charlottesville-Albemarle Year To Date Market Report

Central Virginia Homes Year To Date Market Report

Buying A Charlottesville Home – What Is Earnest Money?

For the first time homebuyer all of the aspects of the home buying process are new. One of the points that you need to understand is the earnest money deposit.

Earnest money is money put down by the purchaser when they make an offer on a home. You will need to set aside some money to have for the earnest money deposit when you make an offer on a home. The purpose of the earnest money deposit is to demonstrate the seriousness of the purchaser’s intentions to the seller. The amount is often between 1-5% of the purchase price, but this can vary with local customs. The more money that is put down the more serious the seller will feel that the buyer is. When the offer is accepted the earnest money deposit will become part of the downpayment or closing costs. If the offer is rejected the earnest money will be returned to the buyer. However if the purchaser defaults on the contract the earnest money may be forfeited.

If you are a first time homebuyer considering a purchase of a Charlottesville home, I would be happy to go over the home buying process with you. I would love to help you find the perfect home.

Click here to search all of the Charlottesville and Central Virginia homes on the market.

Buying a Charlottesville Home – What is Mortgage Insurance?

For first time homebuyers involved in their purchase of a Charlottesville Virginia home there is so much to understand about the homebuying process. One of the things that you may ask about is mortgage insurance.

Mortgage insurance is an insurance policy that protects mortgage lenders if a borrower defaults on their home mortgage. It is required in cases where a borrower's downpayment is less than 20% of the purchase price.

Like any other insurance policy mortgage insurance involves the payemnt of a premium and protects the mortage lender against loss. Mortgage insusrance will be included in the monthly mortgage payment. If the borrower defaults on the loan and the lender is forced to foreclose on the property, the lender may file a claim with the mortgage insurer for a portion of the total losses.

If you have questions about the home buying process, contact me. I would be happy to speak with you about what is involved in buying a home. Helping buyers get into the home of their dreams is my favorite thing to do.

Search all of the Charlottesville and Central Virginia homes on the market.

What Is The Difference Between Pre-qualifying And Pre-approval?

Many people who are beginning to look for a Charlottesville, Virginia home are confused about the difference between loan pre-qualification and pre-approval.

Pre-qualification is a simple process to help determine how much money you will be elegible to borrow. After you are pre-qualified you will have an idea of what price range home you should be looking at. Most real estate agents will ask if you are pre-qualified when they begin working with you. That way they will know what price range of homes to show you. You don't want to start out looking at homes only to find out later that you cannot afford the home that you have your heart set on.

You may get pre-qualified over the phone. All that is necessary is to tell a lender the amount of your income, what debts you have and how much of a down payment you can afford. Then the lender will give you an approximate figure of what you could spend on a home. You are not obligated to the lender.

The pre-approval process is a more formal process and involves the actual verification of funds by the lender. You will have to provide the mortgage professional with all of the financial records necessary for applying for a loan and you will go through a preliminary approval process. The only thing that is different from an actual loan application is that you are not supplying a sales contract for a specific property. The advantage of obtaining pre-approval is that it gives you a definate figure of how much house you can afford. In addition when you present an offer on a home it shows the seller that you are serious about purchasing.

Therefore before you begin looking at specific homes, it is a good idea to speak with a lender and get prequalified or pre-approved. Make sure that the home you fall in love with is the home that you can afford.

When you are ready to start looking for the perfect Charlottesville home or Central Virginia horse farm, give me a call. I would love to help you find your dream home.

Or perform your own search of Charlottesville homes.

Albemarle Horse Farms and Country Life – Virginia Fall Steeplechase Season

To me the first cool fall days signal the start of the Virginia fall steeplechase season. There are races within a short drive of Charlottesville, Virginia and Albemarle County almost every weekend in the fall.

Saturday September 13 – Thornton Hill Hounds Point to Point
Thornton Hill Farm, Sperryville, VA 540 987-8346

Sunday September 14 – Colonial Downs
New Kent, VA 804 966-7223

Saturday, September 20 – Blue Ridge Fall Races
Woodley Farm, Berryville, VA, 540 722-6403 540 539-1577

Sunday, September 28 - Foxfield Fall Races
Charlottesville, Virginia 434 293-9501

Saturday, October 4 – Virginia Fall Races
Glenwood Park, Middleburg, VA 540 687-5662

Sunday October 5 – Virginia Fall Races
Glenwood Park, Middleburg, VA 540 687-5662

Saturday October 11- Morven Park Steeplechase
Leesburg, VA 703 777-2414

Saturday, October 18 – International Gold Cup Races
Great Meadows Race Course, The Plains, VA 540 347-2612

Sunday October 26 – Steeplechase at Oak Ridge
Lovingston, VA 540 272-0757

Saturday, November 1 – Montpelier Hunt Races
Montpelier Station, VA 540 672-0027

Sample the Virginia lifestyle. A day at the races offers the excitement of horse racing, the beauty of the fall countryside, and a fun activity to enjoy with family and friends.

If you are looking for a Charlottesville home or a Central Virginia horse farm, come and enjoy fall in Virginia. While you are here, I would be glad to meet with you and discuss how I can help you find the perfect home.

Search all of the Charlottesville homes currently on the market. Horse racing

Albemarle County Goes Green – Should Albemarle County Allow Wind Turbines?

Albemarle County could allow private wind turbines on private property within the next six months. At this time zoning in the county prohibits the installation of wind turbines. However the Albemarle Planning Commission is studying whether to permit small personal turbines at private county residences. These turbines may not be a cost effective way to generate power, but they could help with the reduction of greenhouse gases, which is a long term goal for the county. Whatever the commission decides regarding personal turbines, there will definately not be commercial wind farms in the counties future.

Charlottesville, Virginia and Albemarle County have increasing numbers of green built and energy efficient homes for sale. If you are considering buying or selling a “green” home in the Central Virginia real estate market, contact me and I would love to discuss how I can help you with your real estate needs.

Search the Charlottesville and Central Virginia homes for sale.

Foreclosures – Not Your Typical Real Estate Transaction – Part Three

When a foreclosed home does not sell at auction, it becomes a (REO) real estate owned or bank owned property. Since the banks are not interrested in keeping assets, like homes, that require maintenance, they will probably be interested in selling the property. Usually the banks will get an asset managemant company to handle the sale and this comapny will then retain a local real estate agent to list the property. The property will usually be listed to sell for whatever the market will bear.

In a purchase of a foreclosure, it is important for buyers to be represented by a
REALTOR who understands the unique processes and paperwork involved in that particular kind of transaction. Each lending institution has their own addendums and special forms. Buyers of foreclosed homes should realize that it is necessary to have a great deal of patience as delays, problems and a lot of red tape are the norm. It is important for these buyers to also realize that the whole transaction is slanted to favor the bank. In a typical foreclosure purchase the buyer waives many of the rights that they may have in a traditional home purchase. For that reason, it is a good idea to have the advice of an experienced real estate attorney as well as a buyer’s agent who understands the foreclosure process.

However, for the educated buyer the purchase of a foreclosed home may present a very good opportunity.

If you are considering the purchase of a foreclosed home, I will be happy to talk with you about this unique process. I would also be happy to help you find foreclosed homes in the Charlottesville and Central Virginia real estate market that may suit your particular wants and needs.

« Previous Page
1
…
7
8
9
10
11
…
13
Next Page »