I’ll keep saving for the down payment for the next year, and hopefully I’ll catch the market closer to this 25% expected further devaluation.This would be completely different if I were making 60K rather than 40K…. Empower me already!For the I have written about Match Day once or twice before at least, and this year is no different, but for one thing – the credit markets are much, much different this year (h/t VARBuzz) than in any previous year…. There are no set in stone guidelines I can give you that are being used but some general parameters are:- Can still go to 100% financing- Credit scores should be above 700- 2 months reserves after closing- Debt to income around 50% (closely around) Sometimes, exceptions are needed to get beyond the Debt to Income ratios which seem to be the greatest area of concern…. 🙂 – and ultimately a good thing.My advice to Residents (really to any Buyer) – work with a team of people whom you trust, prepare, know your options and move forward after performing adequate due diligence.
Date Archives March 2008
My blog as a Magic 8 ball
This search brought a visitor from Miami today – likelihood my house will sell. Good luck.
That’s right – raise taxes
Albemarle County’s BoS decided to advertise the new mil rate of .71 cents per $100 of assessed property value. Two years ago it was .74, last year it was .68 and now they want to raise it again. We’re all doing with less money, and government should do the same. If “earning” more money was as easy as voting raises for ourselves, we would all do that, wouldn’t we?
Media appearance – WINA this afternoon and a brief Charlottesville market update
After suffering being bumped last week, today I’ll be on from four thirty to five. To get ready, I ran a few statistics to get a fresh handle on the market:Things are selling…. Properties are selling in the Charlottesville market – but …… I’ll be posting a full market report in the next few days, to include the Waynesboro/Augusta market as well.
I alluded to it last week – Lunch with Lawrence Yun
And now it’s public. Several Virginia bloggers (myself included) will have lunch next week with Lawrence Yun, named today as one of the country’s top 10 economists.
The Carnival of Real Estate
… is up at the Matrix. Lots of good posts, including Howard’s explaining Buyer Agency.
It’s Sweet Sixteen time in the Blog Brawl
And so goes the next round of the Blog Brawl…. Virtual beers are on the house (and if I make it to the Finals, I might start offering real beer at a location of my choosing – perhaps Blue Mountain or Starr Hill)Those of you at large companies, feel free to forward this post on to your friends and family so that you may all vote for me here. One IP address allowed.Is it possible, or appropriate to call on the cVillains to vote for me? What say you?