Changes coming to FHA loans

in Albemarle Charlottesville General Real Estate Politics on

“We want to ensure that we are able to continue to support the housing market in the short term and provide access to homeownership over the long-term, while minimizing the risk to the American taxpayer,” Housing and Urban Development Secretary Shaun Donovan told a congressional committee in written testimony.

…The FHA charges an upfront insurance premium of 1.75% of the total cost of the mortgage which most borrowers can roll into their loan, and then they pay additional annual premiums of either 0.5% or 0.55%, depending on their down payment. … The FHA says that it will limit the amount of money that sellers can provide for closing costs on home sales to 3% of the home price, from the current level of 6%.

…One close observer of the mortgage channel, who we hope to interview soon in The IRA, says that given the recent deterioration of mortgage credit, it is impossible that BAC has not gotten its pari passu portion of the losses which are hitting the FHA.

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Twitter Week in Review

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0930 appointment to show houses in Charlottesville means this doesn't quite feel like Sunday morning # RT @Scobleizer: Tremendous rant by Fake Steve Jobs on the ATT's whining and what's wrong with the USA http://bit.ly/8UGBlX [MUST Read #fb] # Showing houses in Albemarle. The lack of quality in the $600k price range is remarkable. # Working at the Nest this morning, prepping for day's appointments…

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Please Buy my Client’s Car – They Don’t Need it Anymore

in Charlottesville Green Politics Transportation on

Which is awesome, and very green. 🙂 is living and working downtown, so no need for a second car – someone buy it! http://bit.ly/8DhpH6       That they’re living in the City and are able (and willing – that’s part of it, too!) … Incidentally, the current issue of National Association of Realtors’ On Common Ground (not yet online) is all about walkability, transit, smart ( read: intelligent, not the bastardized/politicized “smart” ) growth featuring Walkscore and a few quotes from yours truly.

…Search for homes in Crozet with high Walkscores . (coincidentally, I house I’m marketing comes up first … and the Walkscore is in reality much higher due to some missing restaurants and coffee shops in Crozet)

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Christmas Lights in Charlottesville

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If you’re looking for Christmas lights in the Charlottesville area, start here … I’m hoping the ones in Crozet/White Hall are back this year after they took last year off due to illness. If you have a google login, you can edit the map, add new light installations … View Charlottesville Christmas Lights in a larger map Thanks to @DailyProgress

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Stuff A Truck – Help the Blue Ridge Food Bank in Charlottesville Albemarle

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(December 9, 2009) – Giant Food is hosting the inaugural Charlottesville Stuff-A-Truck food drive on Friday, December 11 from 11 a.m. to 11 p.m. to help alleviate hunger in the Blue Ridge region this holiday season. … Giant Food Store                                               Giant Food Store Rivanna Ridge                                                     Seminole Square 1900 Abbey Road                                             220 Zan Road Charlottesville, VA 22911                                Charlottesville, VA 22901 Founded in 1981, the Food Bank’s mission is to reduce hunger through programs and partnerships which efficiently obtain and distribute nutritious food to people in need in 25 counties and nine cities in northern and central Virginia. … We are excited to partner with the Blue Ridge Area Food Bank to host the first annual Charlottesville Stuff-A-Truck and encourage every member of the community to participate,” said Robin Michel, president of Giant Food of Landover, Md. … The Blue Ridge Area Food Bank serves more than 25,000 people per month and this inaugural Stuff-A-Truck will provide even more to those in need this holiday season.

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Prepping to Sell a House in Charlottesville

in Charlottesville Sellers on

It’s Winter, the first week of December here in Charlottesville and I’m starting to get the e-mails and the queries from people who are thinking about putting their houses on the market in Spring. Now, in my mind, the Spring real estate market really starts now and ramps up late January, early February and March is high time in the Charlottesville area match day when the medical residents find out where they’re going to be.  It is a huge component of our market. Now is the time to start thinking about it.   – Start looking at what your mortgage payoff may be. – Start looking at the projects that you’ve meant to do for the last few years that if you’re going to be selling your house in the Spring really need to be done.   – Houses need to be in the closest state of perfection as possible in this market because it’s going to become super competitive come Spring.   So if you’re thinking about putting your house on the market in the Spring, start looking at how realtors are marketing homes. … But really it’s a time when you need good, sound, professional advice to help you develop a pricing strategy and a project strategy of things that will bring you the best return on your investment if you’re getting your house ready for the market.

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Thanks Albemarle Family Readers

in Albemarle Charlottesville Shameless Self Promotion on

The readers of Albemarle Family magazine (truly one of the best resources for families in the Charlottesville and Albemarle area) voted recently in all sorts of categories. Their inaugural ” Winning Picks for Family-Friendly Fun and Services ” selections covered virtually every segment of the Charlottesville/Albemarle area and economy. … For Favorite Real Estate Company, Nest Realty Group (the firm in which I am one of three partners ) got the nod as #3 . 1 and 2 were Roy Wheeler and Real Estate III respectively. … At the time of voting, we were a six-person firm ( now 8 ) versus 96 and 221 .* Albemarle Family Magazine readers in Charlottesville/Albemarle votes for Jim Duncan and Nest Realty Group I was further surprised to have been voted the #3 Realtor by their readers.

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