Snowpocalypse!
Taken at around 8:45 this morning here in Purcellville. I’m glad to see that the plows have been out in my neighborhood overnight…one of the things we pay for in our homeowner’s association is snow removal, and they are very much on top of things with this storm so far!
Please be safe today and stay off the roads if you can. Also, please don’t forget to clear the snow off your exterior HVAC units so that they don’t freeze up!!
Thanks, honey!
Snow in my neighborhood...
Snowy cheers,
Heather
Tags: LoCo Photo
Beautiful. And apparently, there is more on the way this weekend. What a winter!
Cheers,
Heather
Tags: LoCo Photo
…at least not here, on the blog…
When I’m out previewing or showing homes, I frequently come across good deals..homes that are priced right, in great shape, one-of-a-kind, or just interesting. I would *love* to write about them here to bring them to your attention, before they are snapped up by another buyer. However, I am not permitted to advertise another agent’s listing, so I can’t. So, how do I get this information out to my readers? I send out an email update with my top picks; homes that stand out to me among the many that I get the opportunity to see.
If you would like to receive these emails (which are on no particular time schedule, some weeks I don’t see any homes that warrant notifying my readers), just click the Ask Heather button and in the “What’s on your mind?” box, say “add me to your hot homes group.” It would also help to include your email address, so I know where to send it. =)
Cheers,
Heather
Tags: Hot listings
…doesn’t mean it’s a done deal. Last week, HUD suspended it’s rule about “fixing and flipping,” which prevented buyers using FHA financing from purchasing a home that had been owned by the seller less than 91 days. This had caused buyers using FHA loans here in northern Virginia (and other parts of the country, surely) to miss out on perfectly good properties that had been purchased and quickly refurbished before being put back on the market. I was ecstatic to hear this news, but after chatting with a lender I work with, I realized that this is only the first step. Scott Fournier, of Integrity Home Mortgage, wrote to me to clarify:
Please remember that this FHA letter is just the beginning… banks and investors have yet to comment, adopt, decline or modify this as an option. This letter being generated by FHA doesn’t mean that financial institutions have adopted this exception… and if they do, we have yet to see their overlays to the exception. Right out of the gate, the FHA letter suggests this exception to the 91 day rule is for properties that don’t have a 12 month history of flipping, that have documented renovation and rehab, and that are less than 20% increased from prior to current price. Those properties above 20% would require home inspection and full 2nd appraisal. This is FHA’s wording… not yet to say what banks will add to this.
Now, we wait and see. The suspension of the rule is set to begin on February 1, so hopefully we will have some clarification from lenders and investors before then. Questions? Comment below, shoot me an email, or hit the Ask Heather button, I’m happy to answer.
Cheers,
Heather
Tags: FHA, HUD, Scott Fournier
Live in Leesburg, or thinking about moving there? Just posted a stats update on the real estate market in Leesburg, specifically looking at median price trends, over at my Leesburg Market Stats blog….
Cheers,
Heather
Tags: Leesburg, Leesburg Market Stats, Market Update, median price
