Friday, December 11, 2009

Not A Headline I'd Write... But....

"If You Don't Buy A House Now You're Stupid, Or Broke"
is the headline from a story found in Business Week, written by Marc Roth.

As MY headline explains, it's not a headline I'd write... (yet) BUT... Listen Up:

In the early 90s I bought a house for $150K,  my mortgage payment was $1250  month.

The week of Thanksgiving (2009) I sold a house for $300K, and the buyers mortgage payment is $1265 a month.

Both include the cost of escrows (your taxes and insurance).  The main difference is interest rates.  A 30 year fixed mortgage when I bought was 8.5% (with 2 points).  The 2009 buyer paid no points and got an interest rate well below 5%. 

The resulting question:

Is he really paying more for his house NOW than I did for my house THEN?


If you've been on the fence about buying, you need to seriously consider this example, and others like it.  I know, some people don't have job security, are fighting bad credit, or have other personal circumstances that make buying impossible, improbable or risky.  But, if you are not one of those people, you better get off that fence before those pickets go right up your..... well, near where guys keep their wallets if you know what I mean... The point is, you may not ever be able to get off that fence. 

(That fence doesn't look too comfortable to me!)


And, remember, I've been TRYING to tell you this, my friends. (ew, that sounded a bit "McCain-ish didn't it.  He lost, maybe I should take note). 

But seriously, I post this blog where everyone can see it, but I also post it for my FRIENDS. It's the same advice, whether I've met you or you are my own flesh and blood.  So, please, pay attention.  Please try to listen. 

See these prior posts:



If you've heard enough and think you're ready, give me a call.  I will help you analyze your situation to see if buying is a good idea for you right now.



For other questions, feel free to contact me anytime:
Vicky Chrisner
Ofc: 702-669-3142
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Monday, December 7, 2009

Buying After A Short Sale

Have you fallen victim to the real estate market?  Many have.

You bought (or did a cash out refi) at the height of the market.  You watched your personal wealth plummet as the housing values in the neighborhood took a dive.  And, then, "life" happened - you lost your job, were transferred, got married, divorced or some other event occurred that required you to move.... but sell?  How?  You were upside down.  After considering all other alternatives, you chose between bad and worse and avoided a foreclosure by completing a short sale. Congratulations. 

Now what?  Many lenders require you to wait 2 - 3 years before are permitted to buy again.  It's almost like being "sentenced" as a punishment for your sins.  If only you could take advantage of this incredible buyers market..... well, you can.

I have a lender with a "short sale plus" program.  They recognize that most homeowners who complete a short sale were victims of the same circumstances we're all dealing with - and then "one more thing" happened and was the "final straw".  They couldn't wait out the market, they had to get out of the mortgage. 

Is this you?  If you have just 3.5% as a down payment, you, too, may be eligible to buy TODAY, even if it's been only a few months.  This is not a scam, it's a new program.  Rates are currently BELOW 5% for these loans on a 30 year fixed interest rate.  Interested?  Contact me directly.

Ofc: 703-669-3142
Cell: 703-728-5766


Notes:
*  This is NOT for people who've had a foreclosure - short sales only.
*  People with foreclosures are not generally eligible for loans for 3 years after the foreclosure date.
*  Veterans can do a VA loan 2 years after a foreclosure.

For continuing updates on changes in the real estate market, stay tuned to www.TheRealEstateWhisperer.blogspot.com

For information on Living in Loudoun County, check out

To order a Market Snapshot (showing sales in YOUR neighborhood),

To search for homes for sale, go to
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