Patrick Duffy's Real Estate Blog

Selling a home is complicated and full of legal issues that anyone considering selling “by owner” needs to be aware of. However, two of the most important things you need to know in order to be successful as a FSBO (for sale by owner) home seller have nothing to do with legal issues.

Maximize Exposure

It takes more than just sticking a “for sale” sign in the front yard to get the right people to see your home. It is very unlikely that you will sell your Woodbridge home to a neighbor, or anyone in the neighborhood just driving by. It can happen, but that group is very limited. For sale signs help, but they don’t usually sell the home on their own.

It’s important to advertise in as many places and as many ways as possible including on the internet, in homes magazines and in the local MLS (Multiple Listing Service).

Know Your Buyer

The next thing that is complicated for an individual selling their own Woodbridge home is knowing which buyers are looking in earnest, which are just being nosey, and which have the ability to actual make good on an offer.

Along with exposure this is one of the biggest reasons FSBO sellers often end up turning to a good real estate agent. They have the ability to make sure buyers who come to view your home are ready, willing and most of all able to make a purchase.

If you would like more tips on selling your home “by owner,” subscribe to this blog. It’s free, fast and easy.

LINKS:

Advertise: http://homebuying.about.com/od/sellingahouse/qt/092007_HomeAds.htm

MLS: http://www.investordictionary.com/definition/multiple+listing+service.aspx

real estate agent: http://homebuying.about.com/cs/agencies/a/realestate.htm

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If you’re looking at one of the many Woodbridge homes for sale (and especially when reading about buying a home), you’ve probably already read articles that ask, “How much house can you afford?” and “Can you really afford the mortgage for a new home?” From beginning to end, to get a good estimate, you’ll need to figure monthly payments, loan qualification guidelines, closing costs and much more. Frankly, all those calculations can set your head to reeling.

To cut down on some of the frustration, save a few trees from the paper you’d use up and help give you a better guestimate, I’ve decided to go looking for the best real estate calculators I could find on the Net. Here are my top 3 picks I’ve come across:

#3. Real Estate Calculator Suite – This product seems to be an excellent choice for anyone, whether you’re a homebuyer, seller or even, yes, a real estate agent like me. Sixteen different real estate and mortgage calculators can help you figure out refinancing costs, amortization schedules – even whether it’s better to rent or buy one the Woodbridge homes for sale. Although it’s $40.00, which might seem rather expensive to many, it could more than make up for the time you’d spend staring at a sheet of paper and numbers. To top it all off, it even includes a home inspection form and to do list for movers, tying your buying or selling experience up nicely.

#2. Yahoo! Real Estate Calculators – You can’t beat a search engine for information, and the Yahoo! Real Estate really does a thorough job in collecting a fantastic amount of calculators. Budgeting and finance, mortgage refinancing, deciding fixed or adjustable rate mortgages and more are all available on this one page. The major upside as compared to the Real Estate Calculator Suite is that it’s free.

#1. CNNMoney.com – CNN isn’t a worldwide news network for nothing, and they’ve taken their complete coverage to calculators. On one page, you have over thirty calculators to figure out everything. Compare costs of living for any area, figure out how much house you can afford, calculate the gain or loss on your home and more. As a bonus, it’s all free, too.

I ranked CNNMoney.com as the top due to the amazing amount of information you can gain in one place. However, that doesn’t mean you can’t try one of the others, or even all three. If you want one of the Woodbridge homes for sale, get to calculating, get informed and see what you can accomplish.

Or, you can contact me, and I’ll do the figuring for you.  Call me at 703-403-0536 or email me at patrick@patrickduffyrealtor.com for more information.

Links:  (if you have a calculator on your website, add it to this list and link to it)

Real Estate Calculator Suite – http://www.realestatecalculatorsuite.com/index.htm

Yahoo! Real Estate Calculators – http://realestate.yahoo.com/calculators

CNNMoney.com – http://cgi.money.cnn.com/tools/

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It’s getting close to Halloween, and families across the nation are slowly but surely decorating their Woodbridge homes.  The spirit of the season is in the air, the leaves are changing colors, and pumpkins are going up for sale.  It’s time to carve!

Picking Tips

• Make sure your pumpkin has a stem; it won’t last very long if it doesn’t.
• The pumpkin needs to have a flat bottom so it won’t roll.
• No holes or soft spots, because they’ll rot.
• Choose a light-colored pumpkin for easier carving, or a dark colored pumpkin for a longer lasting decoration.

Pattern Tips

On the steps of Woodbridge homes everywhere, pumpkin faces sprout fangs and witches ride their brooms.  Maybe you want your carvings to stand out, though.  Here are a few things to look at when choosing a pattern:

• Keep in mind who’ll be doing the carving.  Smaller children generally have a harder time with detailed carvings.
• Carving patterns should be as large as the pumpkin you’re working with.
• If your design is elaborate, draw it out on paper first.  You can’t erase a cut.
• Remember that you have to leave space between the cuts.  The pumpkin has to stay together.

Carving Tips

• Before carving, wash the pumpkin and let it dry.
• Use good carving tools – or a sharp knife and a small serrated knife – for the more elaborate designs (unless you want to carve a difficult design with a spoon tip)
• Start at the center of your design and work outwards.
• Use petroleum jelly on the cuts after you’re done so the pumpkin will last longer.

Left-overs

Once you’re done carving, you’ll have a lot of left over pumpkin.  Instead of throwing it in the trash, try roasting the pumpkin seeds for a great snack, or using the flesh for a delicious pumpkin pie.

Soon, children will be visiting Woodbridge homes in mass, and with these tips on pumpkins, patterns and carving (and candy, of course), you can have them oohing and aahing with delight.

LINKS:

Carving patterns – http://www.pumpkinlady.com/pattern.htm

Carving tools – http://www.pumpkincarvingtools.com/

Roasting pumpkin seeds – http://allrecipes.com/HowTo/Roasting-Pumpkin-Seeds/Detail.aspx

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Halloween is just around the corner, but if you’re looking at the homes for sale in Woodbridge, it’s probably the first-time buyer fears that have your knees shaking. Hey, buying a house seems like such a final thing, so that’s understandable. It could be the biggest change in your life – EVER!

Now that I’ve thrown some scary thoughts your way, let’s take a turn at facing those first-time buyer fears.

Am I crazy? No, you’re a first-time buyer. You may alternate between periods of paranoia, confidence, nervousness and calm, but you aren’t crazy to want to buy one of the homes for sale in Woodbridge.

Is this really the right time to buy a house? The best way to answer this question is with a few questions. Do you have good credit? Do you have a decent job? If the answers to these questions are “yes,” then there’s never a bad time to buy the right house. Especially now, with tons of inventory, record low interest rates and the $8000 tax credit.

What if I don’t pick the right neighborhood? What if I buy, move in, hate it, and then can’t turn around and sell the house? An understandable fear; one of the most common horror stories is moving into the perfect house, right next to the neighbor from the Black Lagoon. This is why it’s imperative to do your research (or, at the very least, tell your real estate agent exactly what kind of neighborhood you want). With the Internet, you can find out everything from the crime rate of an area to the quality of the schools.

What if I lose my job? I won’t say that’s not a possibility. However, keep in mind that you have the same question when you’re renting. The difference is that if you can’t pay the rent, you can be evicted within days, depending on where you currently live. While some lenders may do the same, most lenders don’t want to foreclose and are willing to work with you to keep you in the home and making your payments. In addition, many are willing to wait for at least two months of nonpayment before starting the foreclosure process.

If you’ve been a renter all your life and are looking at the homes for sale in Woodbridge, take a deep breath. Yes, it’s scary and yes, the worries can give you worse nightmares than the freakiest Halloween you’ve ever experienced. However, remember what made you decide to start looking in the first place. If those reasons still exist, go for it!

If you’re looking for that perfect, affordable home, I can make the whole process less scary and fear free. Call me at 703-403-0536 or email me at patrick@patrickduffyrealtor.com for more information.

Links:

Record low interest rates – http://www.cnbc.com/id/32350362

Crime rate of an area – http://www.bestplaces.net/Default.aspx

Lenders don’t want to foreclose – http:/howto-you.com/family/episode-36-why-lenders-dont-want-to-foreclose

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By now, everyone knows that, just like the Dot Com bubble, the real estate market grew its own bubble to a degree that it finally popped.  Foreclosure numbers went up, sales went down and everyone, from the government to lenders to John Q public, started looking around for someone they could point a finger at and blame.

The hard truth is that placing blame doesn’t do anyone any good, especially those trying to save their Woodbridge homes. The truth is that it’s time to do what Americans have been doing since the country was founded – picking ourselves up off the ground, dusting off and working with what we still have. Thanks to new acts such as the “Helping Families Save Their Homes Act of 2009,” it’s even more possible to do that.

If you’ve been dealing with the possibility of foreclosure, you may have missed the news, so here are a few uplifting highlights that can make all the difference:

• If you rent your Woodbridge home and the home is foreclosed upon, you have to receive a 90-day eviction notice. You can’t just be preemptively kicked off the property. As well, if you have a lease you have to be allowed to live on the property until the lease is up unless:

a)      the new owner wants to move in and make it his or her residence or

b)      state law says the lease can be terminated on notice.

• Although three months doesn’t seem like a lot of time, that’s three months you wouldn’t have had in most states before the Act was passed.

• Lenders and homeowners are now receiving incentives for successful loan modifications and refinancing under the Making Homes Affordable Program. According to the White House government website, “Servicers covering more than 75 percent of loans in the country have now begun modifications and refinancing under the Administration’s MHA Program.”

• One of the biggest challenges to homeowners is finding out who owns the mortgages on their homes.  This can make it incredibly difficult to discuss refinancing or modification with the mortgage owner. Thanks to the Act, you have to be informed whenever your loan is sold or transferred to another party. Now, you always know who has control of your mortgage and who you need to talk to.

Dealing in the current real estate market can be hard. If you’re already struggling financially, it can be even harder. Try to keep abreast of the current laws that can help homeowners and families keep their Woodbridge homes!

If you can’t qualify for loan modification or refinancing, and are considering a short sale, I am a Certified Distressed Property Expert® who can help. Call me at 703-403-0536 or email me at patrick@patrickduffyrealtor.com for more information.

Links:

Foreclosure numbers went up – http://www.realtytrac.com/foreclosure/foreclosure-rates.html

Helping Families Save Their Homes Act of 2009 – http://www.zillow.com/blog/mortgage/2009/05/21/president-obama-signs-helping-families-save-their-homes-act/

White House government website – http://www.whitehouse.gov/the_press_office/reforms-for-american-homeowners-and-consumers-president-obama-signs-the-helping-families-save-their-homes-act-and-the-fraud-enforcement-and-recovery-act/

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Buying or selling a home has a major impact on many people’s lives. So it’s important not to leave the task to just anyone.

Take advantage of all the benefits that come with working with a full-time Woodbridge REALTOR®. Since selling or buying a home can be a full-time job, it just makes sense to work with an agent that has a full-time commitment.

A full-time REALTOR® can offer:

• Lots of experience – If your agent lives and breathes real estate around the clock, then he or she is better equipped to handle the many surprises that come with buying or selling a home.
• Peace of mind – You could be a first-time home buyer or seller. A full-time Woodbridge real estate agent has the knowledge to lead you through every step, saving you time, money and stress.
• Availability – Since your agent works full time, he or she is available to you when you have questions, concerns or need her for any reason.
• In-depth market knowledge – The real estate market is changing faster than ever. In order to be a successful buyer or seller, you need to be kept up to date. A full-time REALTOR® stays current with what’s happening each and every day.

Whatever your home-buying or home-selling goals, it’s smart to have an experienced, full-time Woodbridge real estate agent working for you. You’ll save yourself headaches, heartache and from making home buying mistakes.

Ready to work with a full-time REALTOR®?  Give me a call today at 703-403-0536 or email me at patrick@patrickduffyrealtor.com.

LINKS

First-time buyer – http://www.lendingtree.com/smartborrower/first-time-home-buyers/

Real estate agent – http://www.wisegeek.com/what-does-a-real-estate-agent-do.htm

Home buying mistakes – http://www.lendingtree.com/real-estate/advice/buying-a-home/common-home-buying-mistakes/

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Many facing the possibility of being added to the number of foreclosures in Woobridge are frightened, often frustrated and feel helpless. It’s understandable; nobody wants to lose their home. However, those feelings often lead to being victimized by loan modification con artists who promise freedom from foreclosure for a little bit of money and leave victims in their wake.

Here are a few tips to protect yourself from scams that could take you one step closer to becoming one of the foreclosures inWoodbridge:

1. Never believe a guarantee. No one, company or individual, can guarantee loan modification or that your lender won’t foreclose. If the loan modification company starts spouting guarantees, walk away.

2. Never sign over power of attorney. Sometimes, con artists will tell you that if you sign over your house to them, their good credit can help save your home. This is never a legitimate proposal and no legitimate company will ask you to do this.

3. Never spend thousands of dollars. Fees higher than $6,000 should be dismissed. Often, scam companies will charge absurdly high upfront fees to help. While some counselors will charge you a fee, those costs are added up after the loan closes, NOT before they even do anything. As well, any company charging over $4,000 needs to have a proven high quality of service and level of success.

4. Always talk to your lender first. Many loan modification scam artists will tell you to stop communicating with your lender. Communication is key, however, since your lender owns the note and will, ultimately, approve or deny the modification. Talk to your lender to find out how to refinance or restructure your payment.

5. Always check with the Better Business Bureau before hiring a “rescue” company. You can check with the Attorney General or Real Estate Commission as well.

6. Always look for free services first. Many foreclosure specialists can help, and will do so free of charge if you can’t afford them. As well, the U.S. Department of Housing and Urban Development (HUD) has approved housing counseling that will provide foreclosure prevention services, also free of charge.

When you’re already faced with the possibility of being one of the foreclosures in Woodbridge, you need help – not someone who will push you further across the line. Be careful when looking for loan modification help.

If your loan modification has been denied and you need to do a short sale instead, I can help. As a Certified Distressed Property Expert® (CDPE), I am equipped with the knowledge and tools to manage a successful short sale transaction.

Call me at 703-403-0536 or email me at patrick@patrickduffyrealtor.com for more information.

Links:

Victimized by loan modification con artists – http://www.nclc.org/issues/mortgage_servicing/content/LoanModScamsReport0709.pdf

Better Business Bureau – http://www.bbb.org/

Approved housing counseling – http://www.hud.gov/offices/hsg/sfh/hcc/fc/

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