We are all familiar with traditional mortgages. There are fixed rate and adjustable rate loans typically running 30 years. Most of these are sold to Fannie Mae or Freddie Mac or are backed by FHA or VA. The requirements of these are fairly standard and the application process quite painful. The applicant and the loan […]
We all know that you can buy stocks, bonds, mutual funds, ETFs, options and other wall street products within an IRA. Did you know that you can also buy investment real estate within your IRA? Traditional brokerage houses are not set up to do this but by opening a self directed IRA(SDIRA) you are free […]
One of the most expensive line items on the buyer side of the settlement sheet is title insurance. Most folks don’t understand what it is and whether or not they should get it. If you are getting a mortgage on the property, the lender will require lenders coverage but buyer coverage is optional. Before deciding […]
I am a numbers person. For years I kept extensive spreadsheets on the history of the Northern Virginia real estate market. I developed my own charts and graphs to show the flow of sales and inventory throughout the year, price trends and more. I simply could not find a source of sales info that presented […]
(Say that quickly!) I usually just post the monthly numbers in the Market Stats section of the website and do not comment on the numbers but there was one number in the September results that showed a small turn in the market. Most people tout the change in average price as an indicator in […]
Have you ever received those emails that state there is unclaimed money is the state treasury and some could be yours? Then you go to the site to see if a bank turned in deposits from a closed account or there was an unclaimed tax return but sadly, there is no lost treasure in your […]
Where have all the homes gone? Buyers are out in force but there is so little for them to look at. Since October 2011 the month over month inventory levels have been off at least 10%. ( Oct 2011 vs Oct 2010, etc) Since April 2012 there have been more than 20% fewer homes on […]
I often get calls from folks who want to buy distressed homes, rehab them and sell them for huge profits. Looks easy on TV doesn’t it? The reality is that flipping homes is a very, very hard business and extremely difficult to keep profitable over the the long haul. (key – long haul) I […]
I am reading the book Canada by one of my favorite authors, Richard Ford. Early in the novel which centers on irrational acts committed by the main character’s parents, he writes, “Common sense should have dictated none of this ever take place. But no one had access to common sense.” That is how I feel […]
I recently had a investor client call saying they would need my services to help rent out their property in Vienna VA. This is a property they bought for $225,000 and is now worth $325,000. They are blessed to have been able to pay off the home and own it free and clear.
This client has called a few times over the past two years and asked about buying another property but even though they were able to pay off the existing rental, there is not much cash available now to purchase a new investment and for various reasons (mainly being that they recently purchased a principal residence with me) the numbers never seemed to work for that next investment. So when I heard that their long term tenant had left and they wanted to rent it again, I proposed they sell it instead and here is why.