Prince William County Real Estate Blog

It protects your ownership right to your home both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person's name or an inaccurate description of the property. It is especially important when purchasing a foreclosure prop...

FHA has formally announced the waiver of the 90 Day Flip Rule.  In the past, it a property was purchased by a private individual or LLC, FHA would not accept a transaction unless the new owner had been the owner of record for 90 days.  This meant that contracts (as well as date of the application...

Lake Ridge- A wonderful community in Woodbridge, Virginia Lake Ridge is a large homeowners association located in Woodbridge, Virginia.  There are over 7700 property units situated on 4200 acres on the  banks of the Occoquan River Reservoir.  Property units include single family homes, townhomes,...

There are many things to consider when hiring a contractor to do work on your home. Not all contractors are created equal. Get at least three written estimates. Get references and call to check on the work. If possible, go by and visit earlier jobs. Check with the local Chamber of Commerce or Bet...

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline ...

Develop a master "to do" list so you won't forget something critical. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle. Don't throw out everything. If your inclination is to just toss it, ask yourself how frequently you use an item and ho...

This update from FHA was released on Friday January 15th, 2010, as an excerpt from the CFR (Code of Federal Regulations) without a corresponding Mortgagee Letter and contains information about FHA's policies regarding the waiver of the 90-day seasoning required for sellers.Here are the 6 things y...

This economic cycle began when the "Housing Bubble" burst and we can't expect  sustainable recovery until real property values improve.  When home values began to decline, accounting standards required that institutions mark their assets at fair market value.  While declines were modest initially...

The lender must disclose a good faith estimate of all settlement costs prior to closing.  There are some new guidelines that have been put out by HUD that protect buyers on these costs.    If a buyer is required to bring money to the table, the funds must be certified if they are greater than $10...

When purchasing a home whether a foreclosure or owner occupied home there is a potential for hidden defects.  It is always recommended to have a home inspection done so you are aware of some of these issues and request to have them repaired by the seller. This can save you a lot of money in the f...