How to decide whether to refinance
Reproduced with the permission of Mortgage-X.com It's anyone's guess what interest rates might do in the next 3, 6 or 12 months, but rates continue to be historically…
When to buy a loan discount point...
One option you have when obtaining a mortgage is to pay a loan discount point to lower the interest rate on your mortgage. In most cases, a loan discount point will cost…
Covenant Heights - affordable housing in Harrisonburg
Hope Community Builders is a non-profit organization in Harrisonburg who builds and sells high quality, affordable housing for those who otherwise may not be able to…
Making sense of turbulent economic times
It can be terrifying to watch the business news these days… Bear Stearns hedge fund collapses. Countrywide is acquired by Bank of America just prior to collapse. The U.S…
20% down required on investment properties?
I have now heard from several lenders that they cannot lend more than 80% on investment properties. The main issue seems to be that mortgage insurance companies are not…
Yes, mortgages are still available
In talking to people in Harrisonburg and around the state lately, I have heard several people comment about how it is now near impossible to obtain a mortgage to buy a…
What is market value?
I received a call the other day from a Realtor who was representing the seller of a house that I had showed to some of my buyer clients. I was informed that "the owner…
Mortgage rates are down --- if you're buying, lock in now!
If you have been holding off to lock in an interest rate on your purchase or re-finance, now may be the time! In a report released by Freddie Mac last Friday (9/12/2008)…
Price Points: estimating housing payments...
I often have conversations with people considering their first home purchase who want to first get an idea of how much they would have to pay for housing on a monthly…
Our perspective on real estate re-framed
During these hot days of summer, swimming or relaxing at the pool is a delightfully fun treat. But have you been to a water park?? Your fun is certain to be amplified…
Foreclosure Sale --- 101 years old --- $52k of possible equity!
The property pictured to the right (506 Virginia Avenue) was purchased 18 months ago (January 2007) for $185,000. The first mortgage, with an original loan amount of…
Taylor Spring townhome foreclosure offers a possibility of $29,300 of equity
The townhome located at 2979 Diamond Spring Lane (pictured to the right) may soon be sold at a trustee sale. The property was originally purchased for $200,345 on July…