Tuesday, June 30, 2015

Where to Save for a Down Payment on a Home in Northern Virginia

For homebuyers in NoVa this summer, saving for the down payment is one of the biggest hurdles in front of the finish line. In a past blog post, I shared how to start saving for the down payment, but you might be wondering where to keep the money. 

Below are four options for risk-free accounts in which you can keep your down payment. You may sacrifice return, but you can be assured the money will be there when you need it to purchase your NoVa home!

 Online savings account
Compare online rates to determine which online savings account is best, but this may be the easiest option for moving around funds. You can track the money easily via online banking and set up transfers in a snap. You also don't need to worry about the bank not being open when you need to pull your down payment. 

 CD or Certificate of Deposit
Most CD's have penalties if you withdraw money before the term is up, but most are indeed FDIC-insured. If you're concerned about withdrawing before the term ends, you can invest your down payment in a shorter CD (perhaps 3 months). Just know that the interest rates are better the longer the term!

 Money market account
These accounts can be set up at your local bank in Northern Virginia, but do not confuse with money market funds which are similar to mutual funds. Money market accounts are typically FDIC-insured while money market funds are not. Also keep in mind that the highest-yielding money market accounts do often start with a rate that drops over time. 

 Checking account
Certain checking accounts are high-yielding and can offer interest rates over two and three percent. However, these accounts often have requirements like a certain number of transactions in a month, using direct deposit and even put a cap on the balance you can have in the account at a given time. If you are planning to save over $20,000, this might not be the best option.

 Buying a home in Northern Virginia is one of the best investments you can make, especially long-term. Give me a call today to discuss the necessary steps toward becoming a homeowner and tour available properties in Fairfax, Arlington, Alexandria, Falls Church, Springfield and beyond.
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna. 
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Tuesday, June 23, 2015

Celebrate the 4th of July with Fireworks in Northern Virginia

Can you believe it's that time of year again? Time for fireworks, for parade-watching, for celebrating Independence Day in Northern Virginia and DC! Summer is typically a busy time in our area and if you're planning your 4th of July itinerary, it seems you'll have much to choose from!

 Below are just a few events (with fireworks!) you can attend in NoVa to celebrate America this 4th of July weekend:

 Herndon
Bready Park, Herndon Community Center
Herndon, VA

 This festive event will include face-painting, balloon sculptures, bingo and crafts starting at 6:30 PM, music at 7 PM and fireworks following at 9:30 PM. 

 McLean
Langley High School
McLean, VA

 Doors open at 8 PM with fireworks beginning at 9:15 PM. This 4th of July event will offer FREE admission and parking, with shuttles running from St. John's Lutheran Church and the McLean Community Center.

Mount Vernon
George Washington's Mount Vernon
Mount Vernon, VA

 This day-long festival runs from 8 AM to 5 PM, saluting our nation's first president with its made-for-daytime fireworks show! Smoke fireworks in patriotic colors will be displayed over the Potomac River and guests will be treated to free birthday cake! There will even be a visit from the "First Couple" themselves!

 Fairfax
Fairfax High School
Fairfax, VA

 Celebrate Independence Day with this Fairfax event beginning at 7 PM. There will be entertainment from the City of Fairfax Band and other groups, in addition to the fireworks show set to music.

 Falls Church
City Hall and George Mason High School
Falls Church, VA

 The City of Falls Church puts on a great fireworks show and celebration, with this year's beginning at 7 PM. Free to the public, first enjoy music and then fireworks at 9:30 PM.

 Alexandria
Oronoco Bay Park
Alexandria, VA

 Celebrate both Alexandria's birthday and the USA's on July 11, 2015 from 7 PM to 10 PM. There will be a performance by the Alexandria Symphony Orchestra at 9 with fireworks following at 9:30 PM.
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna. 
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Tuesday, June 16, 2015

Extra Fees to Watch for When Moving in Northern Virginia, DC

As I mentioned in a previous post—Your Guide to Moving to a New House—it is so secret that the moving process can be overwhelming. After all, you're on your way to settle into your dream home! It's both exciting and new and as a result, it can be easy to overlook a few key items like fees along the way.

 If you're moving to a new home in Northern Virginia this summer, it is important to keep an eye out for these extra fees that could pop up when changing homes. Even little things like disposing of packing materials can add up in charges.

 Packing and Unpacking
If you don't take the time to carefully package each item or piece of furniture, you could risk damaging them in your move. However, some new homeowners just do not have the time to dedicate to this task. It's understandable, but know that it can cost you! 

 Some moving companies will pack for you and even unpack when you arrive. Fees are typically calculated on an hourly basis and if you want them to dispose of the packing materials when it's all said and done, you could acquire a disposal fee as well.

 Disassembling and Assembling Furniture
We all know how much time it can take to disassemble furniture and try to remember what goes where before packing it onto the moving truck. Your moving company can do this for you (they oftentimes have extra tools to make it efficient!), but for a fee. They will also reassemble the furniture in your new home for an added charge so you can jump right into unpacking.

 Handling Heavy Items
If you have extremely heavy personal items like a piano, pool table, hot tub or safe, movers can charge an additional handling fee as these often require special treatment and packing. Items like appliances can be transported to your new NoVa home and set up, but movers will also charge an appliance servicing fee.

 Carrying a Distance
It may not even cross your mind, but if movers have to park more than 50 to 75 feet from the entrance of your home in communities like McLean, Springfield, Centreville, Annandale, Arlington or Alexandria, you could be required to pay an extra fee for them to take the items inside. This is called a "long carry fee" and is assessed based on the distance movers need to carry items from the truck to the entrance of the home.

 Moving to a new home in Northern Virginia is an exciting time, so don't let unexpected moving fees catch you off guard! With my experience in the NoVa real estate market, I'm happy to help your home buying process run as smoothly as possible. Give me a call today!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna. 
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Tuesday, June 9, 2015

Optimism for Northern Virginia Real Estate Market Increasing

Temperatures are not the only thing rising this summer in NoVa, optimism for the real estate market is on the up and up too! According to Fannie Mae's May 2015 National Housing Survey, homebuyer attitudes toward housing are strengthening. Not only is this great news for those looking to sell, but it also echoes other predictions that the market will see a surge this year.

 Why the healthy outlook on behalf of potential buyers? Many survey participants reported an increase in household income, which is a survey high and driving force.

 "As job growth appears to be driving meaningful income growth, the outlook for housing market growth is improving," Fannie's Mae's report stated.

 Another contributing factor is the number of those who believe now is a great time to sell in the Northern Virginia and DC area. In fact, nearly half of all survey participants would agree that this is opportune timing for making a move. 

 And not just making a move in general, according to the survey, but making the move to homeownership. The number of consumers who said they would prefer to buy a home rather than rent for their next move rose again, hiking three points up to 66 percent last month.

 "We have found that these two indicators—good time to sell and income growth—are key drivers for the performance of the housing market," said the senior vice president and chief economist at Fannie Mae. "The increase in these indicators suggests our forecast of moderate improvement in the housing market in 2015 is on course."

With optimism on the rise and the market gaining momentum, there is no doubt that this summer holds great things for both home sellers and homebuyers. 

If you're ready to make a move in the real estate market in DC and surrounding communities like McLean, Springfield, Centreville, Falls Church, Alexandria and Arlington, give me a call! With my decades of experience, I am happy to help you take advantage of this exciting time.

I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna. 
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Tuesday, June 2, 2015

5 Things to Do Before You Sell Your Home in McLean, Arlington, Alexandria, Fairfax

School is nearly out for the summer and in addition to summer vacations, Northern Virginia homeowners will be scheduling moves in the mix. There is more time to pack, more time to scout where you'd like to live, more time to house hunt, more time to ensure you're getting the best possible deal and of course, more time to get your own home ready to sell.

 Preparing your home to sell in NoVa is equally as important as where you're going next. Before you list your property this summer, consider tackling these 5 important tasks that can really make an impact on local homebuyers:

 Clean out the drains
You may not have thought about this prior to an open house or showing, but homebuyers do two things during their visit— run the water and check for odors. Oftentimes, the odors can be coming from either the sink drain or tub. Make sure they are both unclogged and clean by using a simple cleaner followed by boiling water. You can do the same with your garbage disposal!

 Refresh the curtains
Whether that means washing them or replacing them, curtains need to be refreshed before you list your home in NoVa. They, like carpet, hold a lot of dust and dirt and can become faded over time due to sunlight. Not only does this turn off homebuyers, but it gives them the impression that other (more important) things in the home may have been passed over as well.

 Empty the closets
Every home has a story, but homebuyers should be able to visualize themselves inside and start their own. Don't let cluttered closets get in the way of that! In fact, a clean and clear closet can give the appearance of larger storage space which is one of the most popular reasons homebuyers are moving today!

 Refresh the entryway
This is the first place a buyer will notice when they enter your home in McLean, Arlington, Alexandria, Fairfax, Centreville or Springfield. Improving curb appeal and spending time on the entry can lengthen the period of time before a buyer decides if the home is "the one;" Hint: it's usually 30 seconds!

 Refresh the scent
A home's odor can be a huge buyer turnoff! Even if you don't think your home smells bad, open the windows, grind half a lemon in the garbage disposal, add fresh flowers, burn odor-reducing candles or bake cookies. All of these can make your home more attractive and appealing to DC area buyers.

 With decades of real estate experience under my belt, I've seen it all! I can fill you in on the common buyer turn-offs, what they're looking for and how you can appeal to them this summer with your property. Give me a call today!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna. 
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