A lot of clients have questions about how they can take advantage of the New $8,000 Tax Credit for First-Time Homebuyers. While there is a lot to consider when answering this question, the biggest thing to consider is: What qualifies someone as a first-time buyer? An simple answer would be:
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter.
There is more info on this definition and details on how to take advantage of the credit on this website: www.federalhousingtaxcredit.com/
Call anytime if you have questions...703-400-6757.
Thursday, February 26, 2009
Thursday, February 19, 2009
First-Time Buyers Won't Have to Repay $8,000 Tax Credit!
The following is a breakdown of the new homebuyer stimulus according to Justin O'Donnell, Senior Loan Officer for First Heritage Mortgage. His email address is jodonnell@fhmtg.com .
While the proposed $15,000 home-buyer tax credit died in negotiations between the House and the Senate, the $787 billion stimulus bill that President Barack Obama signed into law Tuesday includes a similar--albeit smaller--measure designed to help revive the real estate market. Here are six things you need to know about the freshly-enacted $8,000 first-time home buyer tax credit.
1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.
3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.
4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.
5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.
6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)
While the proposed $15,000 home-buyer tax credit died in negotiations between the House and the Senate, the $787 billion stimulus bill that President Barack Obama signed into law Tuesday includes a similar--albeit smaller--measure designed to help revive the real estate market. Here are six things you need to know about the freshly-enacted $8,000 first-time home buyer tax credit.
1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.
3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.
4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.
5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.
6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)
Thursday, February 12, 2009
2008 Rankings Are Out - Jennifer Young Team #8 in Washington Metro Area (VA/MD)
HAPPY NEW YEAR everyone! With the arrival of 2009, I find it’s time to take a look back at what my team and I have accomplished – while also looking forward to the great opportunities ahead, for buyers and sellers who are looking to get BACK IN BLACK in the new year…
First - a look back at an Awesome year. Thanks to the support of many, the Jennifer Young Homes team managed to earn a TOP Ranking for all of MLS – positioning Jennifer Young as the #1 Real Estate Agent (in volume sales) for Keller Williams Realty in the Washington DC Metro Area, including Maryland and Virginia. This was a huge feat! We sold over 276 homes, 116 of which, sold for original list price or within $5,000 of that price. These numbers also ranked me as #8 of ALL Realtors in DC Metro in terms of sales volume.
These are incredible stats, but rather than pat my own back, I’ve found the need to break down why my team and I were able to make 2008 so successful. And when you work for Keller Williams Realty, your success is determined by whether the deals you make are “Win-Win”. I believe our sales last year were exactly that. Sellers were able to get the asking price they were looking for, while facing a lower number of average Days on Market (DOM). And, buyers were able to find deals they wouldn’t normally have had the chance to grasp, thanks to a shift in availability of affordable homes and to unbelievable opportunities in funding sources.
First, let’s look at what sellers wanted vs. the bargains buyers were insisting upon each day the phone rang in 2008. Buyers wanted homes at low prices, and they would not settle for anything higher than their bottom line. That meant that initial pricing was paramount in order to reduce DOM for sellers and it still is as we look to the new year. With each listing I am extremely detailed in setting that Original List price. This brings a sale faster, while also keeping prices down on the concession side of the equation. Here’s what I mean. Average concessions (amount of $$ paid back to buyers at closing) in 2008 averaged 2.5% nationally. This percentage rises when a home is listed for more than 149 days. As a seller, regardless of what you plan on receiving for an offer on your home, if you price it right from day one, you pay less in concessions over the long haul.
Second, lower interest rates are proving to be beneficial concepts for seller and buyers. Sellers are taking advantage of increased buyer activity, while buyers are enjoying average rates as low as 5.42% according to a survey performed by Interest.com on 12/17/08. Some lenders are even offering rates as low as 4.75% with good credit. That means, on a $200, 000 loan, with 10% down, a buyer’s principle interest payment would be only $938 per month. At a higher 7% rate, with 10% down, the principal interest payment on $180,000 would still only be $1,197. That monthly amount is almost always lower than what most of our callers who rent are paying their landlords each month.
First - a look back at an Awesome year. Thanks to the support of many, the Jennifer Young Homes team managed to earn a TOP Ranking for all of MLS – positioning Jennifer Young as the #1 Real Estate Agent (in volume sales) for Keller Williams Realty in the Washington DC Metro Area, including Maryland and Virginia. This was a huge feat! We sold over 276 homes, 116 of which, sold for original list price or within $5,000 of that price. These numbers also ranked me as #8 of ALL Realtors in DC Metro in terms of sales volume.
These are incredible stats, but rather than pat my own back, I’ve found the need to break down why my team and I were able to make 2008 so successful. And when you work for Keller Williams Realty, your success is determined by whether the deals you make are “Win-Win”. I believe our sales last year were exactly that. Sellers were able to get the asking price they were looking for, while facing a lower number of average Days on Market (DOM). And, buyers were able to find deals they wouldn’t normally have had the chance to grasp, thanks to a shift in availability of affordable homes and to unbelievable opportunities in funding sources.
First, let’s look at what sellers wanted vs. the bargains buyers were insisting upon each day the phone rang in 2008. Buyers wanted homes at low prices, and they would not settle for anything higher than their bottom line. That meant that initial pricing was paramount in order to reduce DOM for sellers and it still is as we look to the new year. With each listing I am extremely detailed in setting that Original List price. This brings a sale faster, while also keeping prices down on the concession side of the equation. Here’s what I mean. Average concessions (amount of $$ paid back to buyers at closing) in 2008 averaged 2.5% nationally. This percentage rises when a home is listed for more than 149 days. As a seller, regardless of what you plan on receiving for an offer on your home, if you price it right from day one, you pay less in concessions over the long haul.
Second, lower interest rates are proving to be beneficial concepts for seller and buyers. Sellers are taking advantage of increased buyer activity, while buyers are enjoying average rates as low as 5.42% according to a survey performed by Interest.com on 12/17/08. Some lenders are even offering rates as low as 4.75% with good credit. That means, on a $200, 000 loan, with 10% down, a buyer’s principle interest payment would be only $938 per month. At a higher 7% rate, with 10% down, the principal interest payment on $180,000 would still only be $1,197. That monthly amount is almost always lower than what most of our callers who rent are paying their landlords each month.
FEBRUARY 7th Home Auction – Buyers Walked Way With Great DEALS!
As if the foreclosure market wasn’t enough to keep up with, buyers are now playing their hand at taking a chance in the Auction market. This latest event on Saturday, February 7th was hosted by Hudson & Marshall at the Hilton – McLean Tysons Corner. Buyers looking to bid on a house were given two chances to view it at scheduled open houses the week before. On the day of the auction, buyers were told they would pay the following if participating:
1) $5,000 Cashier’s Check – used for Down Payment and
2) 5% Buyer’s Premium – to be added to their final bid amount to equal their actual Final Sale Price.
In addition, potential buyers needed to bring with them to the auction:
1) Short list of homes you want to bid on (with property numbers)
2) Your pre-qualified price range
3) Picture I.D.
4) Social Security Number
5) Your pre-registered Real Estate Agent (Commission paid for by seller)
6) For those taking title in a company name or trust – bring articles of incorporation, trust
documentation or other proof of signing authority.
Now, the key to doing this and feeling comfortable with the process, is to come totally prepared. If you have a real estate agent – call them up and ask them to go with you. Just make sure to give them plenty of notice (the next auction is March 14th). They can run comparables on the homes you like, so you know what your bidding cap should be. To represent you at the auction, they must register 48 hours ahead of time on-line as your representative. We work with many investors at these auctions and provide them with comparables, cash flow scenarios, estimated costs of fix ups, etc.. before the auction date so they can make the best decision. We would love to work with you on an auction property and can answer all of your questions about the process. Remember it doesn’t cost you anything to have representation - you pay the 5% buyer premium whether or not you have an agent. Go to http://www.ushomeauction.com/faqs.php for more answers to your questions or give us a call at 703-674-1777.
For those of you curious about how much these auction homes are selling for, I wrote a few of the sales prices down on Feb 7th and crunched them against the most recent list price and the amount they sold for in the height of the real estate market. It’s an interesting break down to check out:
Prince William County
2775 Marsala Ct #21C6, Woodbridge, VA 22192
TH – 2bd/2ba
Height of Market: $216,000 in 2006
Current List Price: $104,450
Final Sale Price: $52,500 (50% below list price)
16856 Miranda Ln, Woodbridge, VA 22191
TH – 4bd/3.5ba
Height of Market: $360,000 in 2006
Current List Price: $205,000
Final Sale Price: $140,000 (32% below list price)
16709 Capon Tree Ln, Woodbridge, VA 22191
TH – 3bd/2ba
Height of Market: $305,000 in 2005
Current List Price: $176,900
Final Sale Price: $112,000 (37% below list price)
12687 Greenhall Dr., Woodbridge, VA 22192
SFH – 3bd/1ba
Height of Market: $372,000 in 2005
Current List Price: $149,900
Final Sale Price: $92,000 (39% below list price)
14377 Shetland Ct., Woodbridge, VA 22193
SFH – 3bd/2.5ba
Height of Market: $392,000 in 2006
Current List Price: $139,000
Final Sale Price: $96,000 (31% below list price)
7915 Manassas Dr, Manassas, VA 20111
SFH – 3bd/1ba
Height of Sale: $232,887 in 2008
Current List Price: $105,900
Final Sale Price: $76,000 (28% below list price)
7521 Quail Run Ln., Manassas, VA 20109
TH – 3bd/1ba
Height of Market: $292,000 in 2005
Current List Price: $84,900
Final Sale Price: $68,000 (20% below list price)
18415 Woodland Dr, Triangle, VA 22172
SFH – 4bd/2ba
Height of Market: $280,000 in 2004
Current List Price: $110,500
Final Sale Price: $75,000 (32% below list price)
12916 Hunting Cove Place, Bristow, VA 20136
SFH – 4bd/ba
Height of Market: $558,000 in 2006
Current List Price: $331,900
Final Sale Price: $222,000 (33% below list price)
Fairfax County
1808 Old Meadow Rd #771, McLean, VA 22102
Condo – 1bd/1ba
Height of Market: $285,000 in 2005
Current List Price: $188,000
Final Sale Price: $175,000 (7% below list price)
7917 San Leandro Place #119D, Alexandria, VA 22309
TH – 2bd/1.5ba
Height of Market: $215,000 in 2005
Current List Price: $63,900
Final Sale Price: $48,000 (25% below list price)
4417 Longworth Square, Alexandria, VA 22309
TH – 4bd/2.5ba
Height of Market: $410,000 in 2005
Current List Price: $265,000
Final Sale Price: $150,000 (43% below list price)
4133 Old Columbia Pike, Annandale, VA 22003
SFH – 5bd/2ba
Height of Market: $325,000 in 2004
Current List Price: $269,900
Final Sale Price: $210,000 (22% below list price)
5955 Joffa Place, Springfield, VA 22150
SFH – 3bd/2ba
Height of Market: $507,500 in 2006
Current List Price: $315,000
Final Sale Price: $234,000 (26% below list price)
7745 Matisse Way, Springfield, VA 22153
TH – 3bd/1ba
Height of Market: $339,900 in 2006
Current List Price: $140,000
Final Sale Price: $94,000 (33% below list price)
Washington D.C.
4242 Nash St. SE, Washington, DC 20020
TH – 2bd/1ba
Height of Market: $225,000 in 2005
Current List Price: $129,900
Final Sale Price: $69,000 (47% below list price)
1311 Florida Ave. NE, Washington, DC 20002
Semi Detached – 3bd/2ba
Height of Sale: $325,000 in 1999
Current List Price: $214,900
Final Sale Price: $117,500 (45% below list price)
Prince George County
5900 Suitland Rd, Suitland, MD 20746
SFH – 4bd/2ba
Height of Market: $345,000 in 2006
Current List Price: $199,000
Final Sale Price: $122,000 (39% below list price)
4512 Broad Blvd., Beltsville, MD 20705
SFH – 3bd/2ba
Height of Sale: $266,700 in 2007
Current List Price: $169,900
Final Sale Price: $96,000 (44% below list price)
6007 Toby Dr, Temple Hills, MD 20748
SFH – 4bd/2ba
Height of Market: $333,000 in 2005
Current List Price: $149,900
Final Sale Price: $80,000 (47% below list price)
There is another auction coming up on March 14th. Some of our properties will be featured - more info to follow in next blog!
1) $5,000 Cashier’s Check – used for Down Payment and
2) 5% Buyer’s Premium – to be added to their final bid amount to equal their actual Final Sale Price.
In addition, potential buyers needed to bring with them to the auction:
1) Short list of homes you want to bid on (with property numbers)
2) Your pre-qualified price range
3) Picture I.D.
4) Social Security Number
5) Your pre-registered Real Estate Agent (Commission paid for by seller)
6) For those taking title in a company name or trust – bring articles of incorporation, trust
documentation or other proof of signing authority.
Now, the key to doing this and feeling comfortable with the process, is to come totally prepared. If you have a real estate agent – call them up and ask them to go with you. Just make sure to give them plenty of notice (the next auction is March 14th). They can run comparables on the homes you like, so you know what your bidding cap should be. To represent you at the auction, they must register 48 hours ahead of time on-line as your representative. We work with many investors at these auctions and provide them with comparables, cash flow scenarios, estimated costs of fix ups, etc.. before the auction date so they can make the best decision. We would love to work with you on an auction property and can answer all of your questions about the process. Remember it doesn’t cost you anything to have representation - you pay the 5% buyer premium whether or not you have an agent. Go to http://www.ushomeauction.com/faqs.php for more answers to your questions or give us a call at 703-674-1777.
For those of you curious about how much these auction homes are selling for, I wrote a few of the sales prices down on Feb 7th and crunched them against the most recent list price and the amount they sold for in the height of the real estate market. It’s an interesting break down to check out:
Prince William County
2775 Marsala Ct #21C6, Woodbridge, VA 22192
TH – 2bd/2ba
Height of Market: $216,000 in 2006
Current List Price: $104,450
Final Sale Price: $52,500 (50% below list price)
16856 Miranda Ln, Woodbridge, VA 22191
TH – 4bd/3.5ba
Height of Market: $360,000 in 2006
Current List Price: $205,000
Final Sale Price: $140,000 (32% below list price)
16709 Capon Tree Ln, Woodbridge, VA 22191
TH – 3bd/2ba
Height of Market: $305,000 in 2005
Current List Price: $176,900
Final Sale Price: $112,000 (37% below list price)
12687 Greenhall Dr., Woodbridge, VA 22192
SFH – 3bd/1ba
Height of Market: $372,000 in 2005
Current List Price: $149,900
Final Sale Price: $92,000 (39% below list price)
14377 Shetland Ct., Woodbridge, VA 22193
SFH – 3bd/2.5ba
Height of Market: $392,000 in 2006
Current List Price: $139,000
Final Sale Price: $96,000 (31% below list price)
7915 Manassas Dr, Manassas, VA 20111
SFH – 3bd/1ba
Height of Sale: $232,887 in 2008
Current List Price: $105,900
Final Sale Price: $76,000 (28% below list price)
7521 Quail Run Ln., Manassas, VA 20109
TH – 3bd/1ba
Height of Market: $292,000 in 2005
Current List Price: $84,900
Final Sale Price: $68,000 (20% below list price)
18415 Woodland Dr, Triangle, VA 22172
SFH – 4bd/2ba
Height of Market: $280,000 in 2004
Current List Price: $110,500
Final Sale Price: $75,000 (32% below list price)
12916 Hunting Cove Place, Bristow, VA 20136
SFH – 4bd/ba
Height of Market: $558,000 in 2006
Current List Price: $331,900
Final Sale Price: $222,000 (33% below list price)
Fairfax County
1808 Old Meadow Rd #771, McLean, VA 22102
Condo – 1bd/1ba
Height of Market: $285,000 in 2005
Current List Price: $188,000
Final Sale Price: $175,000 (7% below list price)
7917 San Leandro Place #119D, Alexandria, VA 22309
TH – 2bd/1.5ba
Height of Market: $215,000 in 2005
Current List Price: $63,900
Final Sale Price: $48,000 (25% below list price)
4417 Longworth Square, Alexandria, VA 22309
TH – 4bd/2.5ba
Height of Market: $410,000 in 2005
Current List Price: $265,000
Final Sale Price: $150,000 (43% below list price)
4133 Old Columbia Pike, Annandale, VA 22003
SFH – 5bd/2ba
Height of Market: $325,000 in 2004
Current List Price: $269,900
Final Sale Price: $210,000 (22% below list price)
5955 Joffa Place, Springfield, VA 22150
SFH – 3bd/2ba
Height of Market: $507,500 in 2006
Current List Price: $315,000
Final Sale Price: $234,000 (26% below list price)
7745 Matisse Way, Springfield, VA 22153
TH – 3bd/1ba
Height of Market: $339,900 in 2006
Current List Price: $140,000
Final Sale Price: $94,000 (33% below list price)
Washington D.C.
4242 Nash St. SE, Washington, DC 20020
TH – 2bd/1ba
Height of Market: $225,000 in 2005
Current List Price: $129,900
Final Sale Price: $69,000 (47% below list price)
1311 Florida Ave. NE, Washington, DC 20002
Semi Detached – 3bd/2ba
Height of Sale: $325,000 in 1999
Current List Price: $214,900
Final Sale Price: $117,500 (45% below list price)
Prince George County
5900 Suitland Rd, Suitland, MD 20746
SFH – 4bd/2ba
Height of Market: $345,000 in 2006
Current List Price: $199,000
Final Sale Price: $122,000 (39% below list price)
4512 Broad Blvd., Beltsville, MD 20705
SFH – 3bd/2ba
Height of Sale: $266,700 in 2007
Current List Price: $169,900
Final Sale Price: $96,000 (44% below list price)
6007 Toby Dr, Temple Hills, MD 20748
SFH – 4bd/2ba
Height of Market: $333,000 in 2005
Current List Price: $149,900
Final Sale Price: $80,000 (47% below list price)
There is another auction coming up on March 14th. Some of our properties will be featured - more info to follow in next blog!
Friday, February 06, 2009
Pending Housing Market Stimulus Gets LIFT!
Our Spring Newsletters were just sent out describing a proposal to make the $7,500 tax credit for First Time Homebuyers an actual Credit and not a loam that had to be paid back over time to the Federal Government....
Well, now a new step has been taken by the Senate to approve something even more beneficial to buyers...READ ON!
Senate Unanimously Approves Housing Market Stimulus Amendment
WASHINGTON - The U.S. Senate Thursday, February 5, 2009, unanimously approved an amendment to stimulate the nation's declining housing market by offering a $15,000 tax credit to individuals who purchase a home in the next year.
"It is time to fix America's problem, not throw money at the symptoms. It is time to fix housing first. It is rare that we have a road map to success in times of difficulty, but this country has once before realized a housing crisis every bit as bad as the one we have today and economic troubles every bit as dangerous," U.S. Senator Johnny Isakson, R-Ga., said. "We have a pervasive housing problem, and we have a historical precedent that works. I am proud this Senate has joined together, learned from history and repeated a method that worked by adopting this amendment." Specifically, the amendment to the pending economic stimulus bill would provide a direct tax credit to any homebuyer who purchases any home. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation's enactment, and the tax credit would not have to be repaid.
The amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment.
Isakson has pushed hard for a non-repayable tax credit for homebuyers because he knows that it will work. In the mid-1970s, America faced a similar housing crisis when a period of easy credit and loose underwriting flooded the market with new construction. Interest rates rose, the economy slowed and America was left with a three-year supply of vacant homes. Congress responded by passing a $2,000 tax credit for anyone purchasing a new home for their principal residence. Isakson believes the results were clear and swift as home values stabilized, housing inventory dropped and the market recovered.
Last year, Isakson introduced legislation to specifically target those homes that were causing the unprecedented increase in housing inventory by offering tax credits to individuals purchasing a foreclosed home or a home where foreclosure is pending. In April 2008, the Senate passed legislation to stimulate the nation's declining housing market that included Isakson's proposal. However, the final version of the legislation that was signed into law included only a $7,500 tax credit for first-time homebuyers that must be repaid over a 15-year period. The amendment that passed Thursday would sunset that $7,500 tax credit.
Our team at Jennifer Young Homes is continually watching for changes in the real estate market that affect all of our buyers and sellers. Visit our website anytime for information and updates on what's going on. Go to http://www.jenniferyounghomes.com/ to check us out!
Well, now a new step has been taken by the Senate to approve something even more beneficial to buyers...READ ON!
Senate Unanimously Approves Housing Market Stimulus Amendment
WASHINGTON - The U.S. Senate Thursday, February 5, 2009, unanimously approved an amendment to stimulate the nation's declining housing market by offering a $15,000 tax credit to individuals who purchase a home in the next year.
"It is time to fix America's problem, not throw money at the symptoms. It is time to fix housing first. It is rare that we have a road map to success in times of difficulty, but this country has once before realized a housing crisis every bit as bad as the one we have today and economic troubles every bit as dangerous," U.S. Senator Johnny Isakson, R-Ga., said. "We have a pervasive housing problem, and we have a historical precedent that works. I am proud this Senate has joined together, learned from history and repeated a method that worked by adopting this amendment." Specifically, the amendment to the pending economic stimulus bill would provide a direct tax credit to any homebuyer who purchases any home. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation's enactment, and the tax credit would not have to be repaid.
The amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment.
Isakson has pushed hard for a non-repayable tax credit for homebuyers because he knows that it will work. In the mid-1970s, America faced a similar housing crisis when a period of easy credit and loose underwriting flooded the market with new construction. Interest rates rose, the economy slowed and America was left with a three-year supply of vacant homes. Congress responded by passing a $2,000 tax credit for anyone purchasing a new home for their principal residence. Isakson believes the results were clear and swift as home values stabilized, housing inventory dropped and the market recovered.
Last year, Isakson introduced legislation to specifically target those homes that were causing the unprecedented increase in housing inventory by offering tax credits to individuals purchasing a foreclosed home or a home where foreclosure is pending. In April 2008, the Senate passed legislation to stimulate the nation's declining housing market that included Isakson's proposal. However, the final version of the legislation that was signed into law included only a $7,500 tax credit for first-time homebuyers that must be repaid over a 15-year period. The amendment that passed Thursday would sunset that $7,500 tax credit.
Our team at Jennifer Young Homes is continually watching for changes in the real estate market that affect all of our buyers and sellers. Visit our website anytime for information and updates on what's going on. Go to http://www.jenniferyounghomes.com/ to check us out!
Friday, December 05, 2008
Big REO AUCTION Days Coming Up on 12/20 & 12/21
When bank owned homes don't sell as quickly as the banks might like, another option for them is to put them up for auction in an effort to make a quick sale. This can be a rare opportunity to get a GREAT deal on a foreclosed home! That opportunity is coming up on Dec 20th and 21st in both Maryland and Northern Virginia. (See featured listings at http://www.jenniferyounghomes.com/ and sign the guest book to receive a full list of homes and upcoming inspection dates.)
NOW - before you get involved in the auction process, be sure to do your homework! And remember, you don't have to go it alone...if your real estate agent is registered with the auction company (which is an easy online process), you can have them represent you on the day of auction.
Here are some frequently asked questions and answers to help you get started:
Q. What types of properties will be sold at this auction?
Ans. These are residential units ranging from single family detached homes to condo units and 1-4 multi-family residential units. These are properties acquired by lenders through the foreclosure, sheriff’s sale or deed in lieu of foreclosure process. The best part is that our lenders offer competitive financing options at today's low rates AND you can pre-qualify today by calling 1-800-648-5799!
Q. Who owns the properties that are being offered at the auction?
Ans. These properties are all residential properties acquired by lenders through the foreclosure, sheriff’s sale or deed in lieu of foreclosure process and are now being liquidated. Be sure to register and attend the auction to take advantage of the fantastic bargains available to auction bidders.
Q. How were the values determined? How current are they?
Ans. The previously valued to price is based on the higher of a) the appraised value of the property in connection with the most recent mortgage on the property, b) the most recent asking price, c) the assessed value, or d) the most recent broker price opinion.
Q. Should I go inspect the property prior to bidding at the auction?
Ans. Yes, yes, yes! The only way for you to make an informed decision when it comes to bidding and buying is to not only visit, view and inspect the property prior to the auction, but also view any property information and disclosure documents pertaining to that property. Do your investigation. Make your inspections. By registering and bidding at the auction, you are representing that you have not only viewed the property prior to bidding, but have also inspected, reviewed and accepted all relevant property information you deem necessary to make an informed decision. The properties will not be open for inspection after the auction so be diligent and do your inspections and investigations prior to the auction
Q. Can I conduct inspections after the auction?
Ans. No. All inspections must be completed prior to the auction event. The properties will not be open for walkthroughs or inspections after auction.
Q. Can I bring a contractor with me during inspection?
Ans. Yes!
Q. What do I typically need to bring to an auction?
Ans. If you plan to bid and purchase a property at the auction, you must have:
A $5,000 cashier’s check (or cash) made payable to yourself. (A $10,000 cashier’s check is needed to purchase each additional property.)
The available funds to write a personal check or pay cash for the balance of the required 5% Earnest Money Deposit due on auction day. (Each additional property purchased will require a 15% Earnest Money Deposit.)
Valid picture identification for all parties involved in the transaction, such as a Government issued photo ID
It is also recommended by the auction company that you bring the last 2 years of tax returns, last 2 years of W-2’s, and last 30 days of pay stubs to help the process move more quickly.
Q. What is the difference between a cashier's check and an official check or bank check and why must I have a cashier’s check on auction day?
Ans. The terms "cashier's check," "treasurer's check," and "official check" are often used interchangeably. A cashier’s check is a draft where the drawer bank and the drawee bank are the same. In other words, where the check is drawn by a bank on itself. If so, and if it is not captioned "expense check" or "dividend check" or "payroll check" or in any other way that makes it a special-purpose payment, consider it as fitting the definition of a cashier's check and making the funds available accordingly. A cashier’s check has availability requirements defined under Reg. CC. and that is why a cashier’s check is required as part of the earnest money deposit.
Q. Do I need to register to bid at the auction?
Ans. Yes! But registering is free and easy. You can register by calling 800-793-6107 or log onto http://www.ushomeauction.com/ . They recommend that your register at least 48 hours prior to the auction day in order to receive information relating to the event. Note: You must register separately for each auction event listed in the auction calendar.
Q. What if I have a real estate agent or broker?
Ans. REDC welcomes broker participation! A one percent (1%) commission, based on the Winning Bid Amount, will be paid by REDC to Registered Brokers/Agents whose client(s) successfully purchase a property and close escrow. To qualify, make sure your broker or agent completes the 3 following steps:
1. Pre-Register with REDC as a “Registered Broker” at least 24 hours prior to the Auction Day.
2. Check in with their client(s) at the Broker Check-In on Auction Day.
3. Escort their client(s) as Winning Bidder to the contract area to sign docs.
Please see the Terms and Conditions in regards to agent/broker participation for a full explanation.
Q. May I attend to just watch?
Ans. Yes, however, Registered Bidders will be granted access before the general public. If we are nearing room capacity, we will have to restrict attendance to Registered Bidders only. We cannot violate fire and safety codes.
Q. How long will each auction last?
Ans. Generally, we are able to auction between 25 to 30 properties per hour, so things will be moving at a rapid but manageable pace for our bidders. The length of each auction is dependent upon how many properties are in the auction portfolio for auction day. You may refer to the auction day line listing in the brochure for estimated arrive-by times. Please allow yourself sufficient time to attend our auction event so that you are able to take advantage of all the opportunities presented on auction day.
Q. Can I purchase more than one property at this auction?
Ans.Yes, however, if you are planning to purchase more than one property, you must register as a “Multiple Bidder” and do the following:1. Be prepared to make an earnest money deposit of 15% ($10,000 of which must be by cashier’s check) for each property purchased after the first; and 2. Agree to be pre-qualified by the designated lender 3. Show the ability to purchase the properties for cash by means of current bank statement, CD statement, stock portfolio statement, or retirement account statement. Your documents must be dated within ten (10) days of the auction event.
Q. What is the 5% Buyers Premium and what is it used for?
Ans. The Buyer’s Premium is 5% of the Winning Bid Amount and added to the Winning Bid Amount to arrive at the Total Purchase Price. For example, if the Winning Bid Amount is $200,000, then the Buyer’s Premium is $10,000 ($200,000 x 5% = $10,000). The Total Purchase Price is then calculated as the Winning Bid Amount PLUS the Buyer’s Premium or $200,000 + $10,000 = Total Purchase Price of $210,000.
The 5% Buyer’s Premium is used to help the Auction Company/Broker promote the auction through multiple mass-media outlets such as Television, Radio and Direct Mail, and to help defray the auction expense costs without having to pass on all of those costs to the Seller. It is a standard practice utilized by most major auction companies.
Q. What is the Earnest Money Deposit?
Ans. The Earnest Money Deposit is the amount of money you are required to put down on auction day. On auction day, you must deposit with the escrow/closing agent an Earnest Money Deposit equal to 5% of the Total Purchase Price (15% for each additional property purchased), regardless of the amount you finance. This is not the financing deposit or down payment but rather, the amount required as earnest money on auction day. As an example, if the Total Purchase Price is $210,000 (the Winning Bid Amount PLUS the Buyer’s Premium), then the Earnest Money Deposit required on auction day is $10,500 ($210,000 x 5% = $10,500).
Q. How can I pay the Earnest Money Deposit?
Ans. The first $5,000 of the Earnest Money Deposit must be paid by cashier’s check or cash ($10,000 for each additional property purchased). The remaining balance can be paid by personal check or by cash. You will be provided with a receipt on auction day showing that the escrow/closing agent received your Earnest Money Deposit. There are no exceptions to this requirement.
Q. What if my Earnest Money Deposit required is less than the $5,000 cashier’s check?
Ans. The first $5,000 of the Earnest Money Deposit must be paid in the form of a cashier’s check or cash. Change will not be given on Auction Day. If it is less than your required down payment, you will be refunded the difference at closing.
Q. What if I buy more than one property, what is my Earnest Money Deposit requirement?
Ans. If you buy more than one property and it is not your first property acquired at auction, then your Earnest Money Deposit is to be 15% of Total Purchase Price or $10,000, whichever is greater. The first $10,000 of the Earnest Money Deposit must be paid in the form of a cashier’s check or cash.
Q. If I am the winning bidder, can I assign my contract to someone else?
Ans. No. The purchase agreements are not assignable. All parties who wish to buy must be present on auction day so that they can register for the auction and execute the necessary documents if they win.
Q. What if I change my mind? Can I cancel the transaction after the fact?
Ans. No! Once the auctioneer has announced “sold,” you have agreed to purchase the property. There is no rescission or “cooling off period”. That is it why it is important for you to conduct all of your due diligence and inspections prior to auction day and bidding on the property. Please review the auction terms and conditions for further information.
Q. Does the auction company publish auction results?
Ans. No. As the broker in the transaction, REDC is prohibited from disclosure during escrow. Once escrow closes, you can obtain the information from the County Recorder's Office.
Title
Q. Because these properties were foreclosed on, are there any liens on the property?
Ans. No! The sellers provide insurable title to the properties sold at auction. You will receive a standard “Title Policy” as part of your transaction. Please review the purchase agreement for further details.
Q. Is there a redemption period where the former owner can make good on their debt?
Ans. No! These are all bank owned properties; the foreclosure process has been concluded and finalized.
Q. Can I choose my own Title Company?
Ans. No, Seller chooses Title Company. Closing costs are standard and customary for the county in which the property is located.
Q. When will I receive title to any property I may purchase?
Ans. The closings are expected to occur within 30 days of the auction event. At closing, and upon payment of the purchase price and closing costs, you will receive insurable title vested as you designated to the closing agent. Please review the purchase agreement for additional information.
Finance
Q. How do I get financed if I’m the winning bidder?
Ans. Designated lender representatives will be available on auction day to assist you with pre-qualification so you can choose the financing option that’s right for you! Competitive rates and programs are available. You can also “Pre-Qualify” prior to the auction by contacting your own lender or financial representative. If you're looking for a referral, please feel free to check out http://www.ericbumgardner.com/ . He is with MetLife Home Loans and can help you get prepared ahead of the big day. Just be sure to check the pre-qualification box on the Bidder Registration Form you fill out with the auction company. **Note, auctioneer’s designated financing lender(s) may not provide financing if the Total Purchase Price is less than $30,000. See Terms and Conditions for complete information.
Q. Can bidders provide their own financing?
Ans. Yes, but the sale will not be contingent upon financing, escrow closing will not be contingent upon financing, nor will escrow closing be extended for that purpose. Winning bidders using their own financing must at time of auction provide a written unconditional lending commitment from their lender. Failure to provide at auction will result in the winning bidder being required to use Seller's lender, subject to qualification. Bidder must fill out loan application for their lender allowing Seller to confirm credit status.
Q. What does it mean when the property is listed as “Cash Only"?
Ans. It means that the buyer must qualify as a cash buyer without using a lender. We can verify accounts online. Qualifying accounts are bank accounts, CDs, mutual fund and stock accounts, 401K, IRA, and credit lines.
Q. What does it mean when the property is listed as “Cash Only, Renovation Financing May Be Available”?
Ans. A renovation loan is a loan that enables you to get cash to renovate a property that would not normally qualify for financing. It follows FHA guidelines. Renovation Financing may be available on select properties typically sold as “Cash Only” which meet the loan eligibility requirements as set by the lender.
Q. When the property is listed as “Cash Only”, do I have to have the cash at the auction?
Ans. You must have the down payment (5% for owner occupied, 15% for investment property) on auction day, and be able to fund in cash within the 30 day escrow.
Q. What do we need to bring if we are paying for the property in cash?
Ans. On auction day, you will need the 5% deposit (15% for each additional property purchased) plus proof of the ability to obtain the cash within 30 days. Documents of proof include 30 days of paycheck stubs, a recent bank statement or mutual fund statement or IRA statements…wherever the funds are coming from. Also current ID for title.
Q. What are the closing costs?
Ans. The Standard and Customary charges for the county in which the property is located in, which may include escrow fees, recording fees, normal pro-rations, lenders title insurance premiums and fees, loan fees, document processing fees, document transfer taxes, and homeowners association dues.
***A major portion of the information provided above was published by the US Home Auctions website and is presented simply as a research tool. Jennifer Young Homes is not a representative of US Home Auction. For full information, please visit http://www.ushomeauction.com/ .
NOW - before you get involved in the auction process, be sure to do your homework! And remember, you don't have to go it alone...if your real estate agent is registered with the auction company (which is an easy online process), you can have them represent you on the day of auction.
Here are some frequently asked questions and answers to help you get started:
Q. What types of properties will be sold at this auction?
Ans. These are residential units ranging from single family detached homes to condo units and 1-4 multi-family residential units. These are properties acquired by lenders through the foreclosure, sheriff’s sale or deed in lieu of foreclosure process. The best part is that our lenders offer competitive financing options at today's low rates AND you can pre-qualify today by calling 1-800-648-5799!
Q. Who owns the properties that are being offered at the auction?
Ans. These properties are all residential properties acquired by lenders through the foreclosure, sheriff’s sale or deed in lieu of foreclosure process and are now being liquidated. Be sure to register and attend the auction to take advantage of the fantastic bargains available to auction bidders.
Q. How were the values determined? How current are they?
Ans. The previously valued to price is based on the higher of a) the appraised value of the property in connection with the most recent mortgage on the property, b) the most recent asking price, c) the assessed value, or d) the most recent broker price opinion.
Q. Should I go inspect the property prior to bidding at the auction?
Ans. Yes, yes, yes! The only way for you to make an informed decision when it comes to bidding and buying is to not only visit, view and inspect the property prior to the auction, but also view any property information and disclosure documents pertaining to that property. Do your investigation. Make your inspections. By registering and bidding at the auction, you are representing that you have not only viewed the property prior to bidding, but have also inspected, reviewed and accepted all relevant property information you deem necessary to make an informed decision. The properties will not be open for inspection after the auction so be diligent and do your inspections and investigations prior to the auction
Q. Can I conduct inspections after the auction?
Ans. No. All inspections must be completed prior to the auction event. The properties will not be open for walkthroughs or inspections after auction.
Q. Can I bring a contractor with me during inspection?
Ans. Yes!
Q. What do I typically need to bring to an auction?
Ans. If you plan to bid and purchase a property at the auction, you must have:
A $5,000 cashier’s check (or cash) made payable to yourself. (A $10,000 cashier’s check is needed to purchase each additional property.)
The available funds to write a personal check or pay cash for the balance of the required 5% Earnest Money Deposit due on auction day. (Each additional property purchased will require a 15% Earnest Money Deposit.)
Valid picture identification for all parties involved in the transaction, such as a Government issued photo ID
It is also recommended by the auction company that you bring the last 2 years of tax returns, last 2 years of W-2’s, and last 30 days of pay stubs to help the process move more quickly.
Q. What is the difference between a cashier's check and an official check or bank check and why must I have a cashier’s check on auction day?
Ans. The terms "cashier's check," "treasurer's check," and "official check" are often used interchangeably. A cashier’s check is a draft where the drawer bank and the drawee bank are the same. In other words, where the check is drawn by a bank on itself. If so, and if it is not captioned "expense check" or "dividend check" or "payroll check" or in any other way that makes it a special-purpose payment, consider it as fitting the definition of a cashier's check and making the funds available accordingly. A cashier’s check has availability requirements defined under Reg. CC. and that is why a cashier’s check is required as part of the earnest money deposit.
Q. Do I need to register to bid at the auction?
Ans. Yes! But registering is free and easy. You can register by calling 800-793-6107 or log onto http://www.ushomeauction.com/ . They recommend that your register at least 48 hours prior to the auction day in order to receive information relating to the event. Note: You must register separately for each auction event listed in the auction calendar.
Q. What if I have a real estate agent or broker?
Ans. REDC welcomes broker participation! A one percent (1%) commission, based on the Winning Bid Amount, will be paid by REDC to Registered Brokers/Agents whose client(s) successfully purchase a property and close escrow. To qualify, make sure your broker or agent completes the 3 following steps:
1. Pre-Register with REDC as a “Registered Broker” at least 24 hours prior to the Auction Day.
2. Check in with their client(s) at the Broker Check-In on Auction Day.
3. Escort their client(s) as Winning Bidder to the contract area to sign docs.
Please see the Terms and Conditions in regards to agent/broker participation for a full explanation.
Q. May I attend to just watch?
Ans. Yes, however, Registered Bidders will be granted access before the general public. If we are nearing room capacity, we will have to restrict attendance to Registered Bidders only. We cannot violate fire and safety codes.
Q. How long will each auction last?
Ans. Generally, we are able to auction between 25 to 30 properties per hour, so things will be moving at a rapid but manageable pace for our bidders. The length of each auction is dependent upon how many properties are in the auction portfolio for auction day. You may refer to the auction day line listing in the brochure for estimated arrive-by times. Please allow yourself sufficient time to attend our auction event so that you are able to take advantage of all the opportunities presented on auction day.
Q. Can I purchase more than one property at this auction?
Ans.Yes, however, if you are planning to purchase more than one property, you must register as a “Multiple Bidder” and do the following:1. Be prepared to make an earnest money deposit of 15% ($10,000 of which must be by cashier’s check) for each property purchased after the first; and 2. Agree to be pre-qualified by the designated lender 3. Show the ability to purchase the properties for cash by means of current bank statement, CD statement, stock portfolio statement, or retirement account statement. Your documents must be dated within ten (10) days of the auction event.
Q. What is the 5% Buyers Premium and what is it used for?
Ans. The Buyer’s Premium is 5% of the Winning Bid Amount and added to the Winning Bid Amount to arrive at the Total Purchase Price. For example, if the Winning Bid Amount is $200,000, then the Buyer’s Premium is $10,000 ($200,000 x 5% = $10,000). The Total Purchase Price is then calculated as the Winning Bid Amount PLUS the Buyer’s Premium or $200,000 + $10,000 = Total Purchase Price of $210,000.
The 5% Buyer’s Premium is used to help the Auction Company/Broker promote the auction through multiple mass-media outlets such as Television, Radio and Direct Mail, and to help defray the auction expense costs without having to pass on all of those costs to the Seller. It is a standard practice utilized by most major auction companies.
Q. What is the Earnest Money Deposit?
Ans. The Earnest Money Deposit is the amount of money you are required to put down on auction day. On auction day, you must deposit with the escrow/closing agent an Earnest Money Deposit equal to 5% of the Total Purchase Price (15% for each additional property purchased), regardless of the amount you finance. This is not the financing deposit or down payment but rather, the amount required as earnest money on auction day. As an example, if the Total Purchase Price is $210,000 (the Winning Bid Amount PLUS the Buyer’s Premium), then the Earnest Money Deposit required on auction day is $10,500 ($210,000 x 5% = $10,500).
Q. How can I pay the Earnest Money Deposit?
Ans. The first $5,000 of the Earnest Money Deposit must be paid by cashier’s check or cash ($10,000 for each additional property purchased). The remaining balance can be paid by personal check or by cash. You will be provided with a receipt on auction day showing that the escrow/closing agent received your Earnest Money Deposit. There are no exceptions to this requirement.
Q. What if my Earnest Money Deposit required is less than the $5,000 cashier’s check?
Ans. The first $5,000 of the Earnest Money Deposit must be paid in the form of a cashier’s check or cash. Change will not be given on Auction Day. If it is less than your required down payment, you will be refunded the difference at closing.
Q. What if I buy more than one property, what is my Earnest Money Deposit requirement?
Ans. If you buy more than one property and it is not your first property acquired at auction, then your Earnest Money Deposit is to be 15% of Total Purchase Price or $10,000, whichever is greater. The first $10,000 of the Earnest Money Deposit must be paid in the form of a cashier’s check or cash.
Q. If I am the winning bidder, can I assign my contract to someone else?
Ans. No. The purchase agreements are not assignable. All parties who wish to buy must be present on auction day so that they can register for the auction and execute the necessary documents if they win.
Q. What if I change my mind? Can I cancel the transaction after the fact?
Ans. No! Once the auctioneer has announced “sold,” you have agreed to purchase the property. There is no rescission or “cooling off period”. That is it why it is important for you to conduct all of your due diligence and inspections prior to auction day and bidding on the property. Please review the auction terms and conditions for further information.
Q. Does the auction company publish auction results?
Ans. No. As the broker in the transaction, REDC is prohibited from disclosure during escrow. Once escrow closes, you can obtain the information from the County Recorder's Office.
Title
Q. Because these properties were foreclosed on, are there any liens on the property?
Ans. No! The sellers provide insurable title to the properties sold at auction. You will receive a standard “Title Policy” as part of your transaction. Please review the purchase agreement for further details.
Q. Is there a redemption period where the former owner can make good on their debt?
Ans. No! These are all bank owned properties; the foreclosure process has been concluded and finalized.
Q. Can I choose my own Title Company?
Ans. No, Seller chooses Title Company. Closing costs are standard and customary for the county in which the property is located.
Q. When will I receive title to any property I may purchase?
Ans. The closings are expected to occur within 30 days of the auction event. At closing, and upon payment of the purchase price and closing costs, you will receive insurable title vested as you designated to the closing agent. Please review the purchase agreement for additional information.
Finance
Q. How do I get financed if I’m the winning bidder?
Ans. Designated lender representatives will be available on auction day to assist you with pre-qualification so you can choose the financing option that’s right for you! Competitive rates and programs are available. You can also “Pre-Qualify” prior to the auction by contacting your own lender or financial representative. If you're looking for a referral, please feel free to check out http://www.ericbumgardner.com/ . He is with MetLife Home Loans and can help you get prepared ahead of the big day. Just be sure to check the pre-qualification box on the Bidder Registration Form you fill out with the auction company. **Note, auctioneer’s designated financing lender(s) may not provide financing if the Total Purchase Price is less than $30,000. See Terms and Conditions for complete information.
Q. Can bidders provide their own financing?
Ans. Yes, but the sale will not be contingent upon financing, escrow closing will not be contingent upon financing, nor will escrow closing be extended for that purpose. Winning bidders using their own financing must at time of auction provide a written unconditional lending commitment from their lender. Failure to provide at auction will result in the winning bidder being required to use Seller's lender, subject to qualification. Bidder must fill out loan application for their lender allowing Seller to confirm credit status.
Q. What does it mean when the property is listed as “Cash Only"?
Ans. It means that the buyer must qualify as a cash buyer without using a lender. We can verify accounts online. Qualifying accounts are bank accounts, CDs, mutual fund and stock accounts, 401K, IRA, and credit lines.
Q. What does it mean when the property is listed as “Cash Only, Renovation Financing May Be Available”?
Ans. A renovation loan is a loan that enables you to get cash to renovate a property that would not normally qualify for financing. It follows FHA guidelines. Renovation Financing may be available on select properties typically sold as “Cash Only” which meet the loan eligibility requirements as set by the lender.
Q. When the property is listed as “Cash Only”, do I have to have the cash at the auction?
Ans. You must have the down payment (5% for owner occupied, 15% for investment property) on auction day, and be able to fund in cash within the 30 day escrow.
Q. What do we need to bring if we are paying for the property in cash?
Ans. On auction day, you will need the 5% deposit (15% for each additional property purchased) plus proof of the ability to obtain the cash within 30 days. Documents of proof include 30 days of paycheck stubs, a recent bank statement or mutual fund statement or IRA statements…wherever the funds are coming from. Also current ID for title.
Q. What are the closing costs?
Ans. The Standard and Customary charges for the county in which the property is located in, which may include escrow fees, recording fees, normal pro-rations, lenders title insurance premiums and fees, loan fees, document processing fees, document transfer taxes, and homeowners association dues.
***A major portion of the information provided above was published by the US Home Auctions website and is presented simply as a research tool. Jennifer Young Homes is not a representative of US Home Auction. For full information, please visit http://www.ushomeauction.com/ .
Monday, December 01, 2008
Volunteering in Fairfax County - Made EASY!
When I posted last night, I saw another blog by someone who was noticing it's getting harder and harder to get anyone to volunteer their time, talent or money these days, especially during the holiday season. I'm positive we all have a lot on our plates and it seems eveyone wants a piece of our time. Of course, as real estate agents, we know it's all about WHO you know, so volunteering serves more than one purpose. We can give our time to better our community AND we can also meet new people that might need our expertise in the real estate industry.
So, if you are working in or around Fairfax County, I have the resource for you!!
www.volunteerfairfax.org Volunteer Faxfax has a program called Volunteers for Change. You can read more about it at http://www.volunteerfairfax.org/DesktopDefault.aspx?TabID=16 If you decide to become part of the program, you don't get solicited all the time for help, you can simply log onto the system anytime you want and pick and choose what you'd like to do and for what organization. It's great!! There are programs for all ages and families can even work together.
There's an orientation coming up on Tues. Dec 2nd from 6:30pm-7:30pm and on Sun. Dec 7th from 2pm-3pm at Volunteer Fairfax, 10530 Page Ave, Fairfax, VA 22030. It helps to RSVP...you can do that on their website. Or you can just show up - whatever is easiest.
Check it out - you'll be glad you did....HAPPY VOLUNTEERING!
So, if you are working in or around Fairfax County, I have the resource for you!!
www.volunteerfairfax.org Volunteer Faxfax has a program called Volunteers for Change. You can read more about it at http://www.volunteerfairfax.org/DesktopDefault.aspx?TabID=16 If you decide to become part of the program, you don't get solicited all the time for help, you can simply log onto the system anytime you want and pick and choose what you'd like to do and for what organization. It's great!! There are programs for all ages and families can even work together.
There's an orientation coming up on Tues. Dec 2nd from 6:30pm-7:30pm and on Sun. Dec 7th from 2pm-3pm at Volunteer Fairfax, 10530 Page Ave, Fairfax, VA 22030. It helps to RSVP...you can do that on their website. Or you can just show up - whatever is easiest.
Check it out - you'll be glad you did....HAPPY VOLUNTEERING!
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