Investor Makes Over $80K on Manassas Flip!

After FLIP Before FLIP

355 Manassas Dr, Manassas, VA

A big part of what Jennifer Young Homes specializes in is investor deals - We find the house and you make the CASH! Well, here's our latest success story...we found a great little house for $48,000 at 355 Manassas Dr, Manassas for one of our investors. They paid cash, spent $30,000 fixing it up with repairs like new paint inside and out, new flooring, new kitchen, and more. We listed it for sale 45 days after purchase for $138,000 and we received 5 strong offers in 3 days. It is now selling for $165,000. That's a profit of of over $80,000. Contact us today for info on "coming soon" listings that haven't even hit the market yet! 703-400-6757 or jenyoung@kw.com

Investor Seminar Coming Up - Make POSITIVE Cash Flow!!

First, check out this CASH FLOW SCENARIO!

102 N. Aspen Ave. Sterling, VA 20164 - $129,900
List Price MONTHLY CASH SCENARIO (25% Down Payment on $129K Purchase Price)
Loan Ammount $96,750, with $32,250 Down
$549 P&I @ 5.5% interest rate
$50 Hazard Insurance $341 Taxes (would go down) = $940

Total Monthly Cost Rental Comps are currently around $1,400 – so that gives you a monthly income of: $460 Monthly! Go to http://www.jenniferyounghomes.com/listings.asp for more info and listings!


Now, above is your typical investment scenario, - cash investor pours $$ into down payment and rents the property out. But - what if you could make MORE money and not have to worry about occassional negative cash flow and property maintenance? Find out how to invest in properties with larger equities at a faster pace. Attend an upcoming seminar at our Keller Williams offices on 5/7, 5/14 and 5/21 from 7-9pm. The property above is a great opportunity for investing in "Contract for Deed"...call 703-674-1654 to sign up today! Seating is limited. Brought to you by Jeff Cournoyer of Keller Williams, an office mate of the Jennifer Young Homes Team. Email questions to jenna.davis.kw@gmail.com.

Investors Check Out this CASH FLOW Scenario!

New BANK OWNED/FORECLOSURE - Possible Investment Property in GREAT shape - Just Listed!
$79000 / 3br - Investors **Check Out This CASH FLOW SCENARIO** Condo Just Listed

319-E Moseby Ct. #61 Manassas, VA 20111
$79,000 List Price

MONTHLY CASH SCENARIO (25% Down Payment on $79K Purchase Price)
$59,250 Loan Amount
$336 P&I @ 5.5%
$100 Condo Fee
$175 Taxes (would go down)&Insurance
= $611 Total Monthly Cost.
Rental Comps are currently around $950-$1000 – so that gives you a monthly income of: $339-$389 Monthly!
Go to http://www.jenniferyounghomes.com/listings.asp for more info and listings!

Short Sale Negotiated in Less Than 30 Days!!!

Well, the old stigma associated with selling homes where the owner(s) is upside down on his or her mortgage, otherwise known as a SHORT SALE, could be fading into the distance. Just today I successfully negotiated a short sale with a top industry bank in UNDER 30 days. We listed it - a week later we had a contract - and 2 weeks later both trusts agreed to sell at over $200K BELOW what the owner(s) owed on both mortgages combined. So, it can be done! Call me today at 703-400-6757 for more info on how we can help you or someone you know avoid foreclosure! Also, visit our website at www.JenniferYoungHomes.com for more info on my team and what we're all about.

Resource for Info On New FTHB $8,000 Tax Credit!

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.

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.)

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.