Open House - 1-4pm 2065 Airy CIR

2065 Airy Circle

Richmond, VA 23238

$159,000

OPEN HOUSE 1pm - 4pm Sunday 2/27/2011

 LOCATION, LOCATION, LOCATION!!! Desireable Pocahontas and Godwin School District!!! Convenient to Every Day Conveniences, Interstates, Shopping/Short Pump, Restaurants, etc. 2 Bedroom, 2.5 Bath TownHome Completely Updated in Tasteful Fashion. Updated Systems, New Windows, New Kitchen with Stainless Steel Appliances, New Flooring, Spacious Bedrooms, Updated Baths, Fire Place, Large Living Area on First Flr, Large Deck Off Back of Unit with Good Size Fully Fenced Back Yard. Great Location in Subdivision Next to Nice Single Family Homes. Pull Down Attic with Ample Storage Space. Affordable Competitive Price Ready to MOVE!!! Well managed HOA...fee has only gone up $2 in 5 years!!!

NEW LISTING - 206 El Dorado DR (Sleepy Hollow Estates)

206 El Dorado DR

Richmond, VA 23229

$489,900

Gorgeous Brick Home Filled with Old Richmond Charm and Detail, & Fused with Custom Renovations, Nesteled On Over Half Acre Lot in One of Richmond's Most Desireable Neighborhoods along River Road Corridor. 3 Spacious Bedrooms, 3 Renovated Full Baths, & 2717 Fin.Sq.Ft. with new windows throughout. Generous Formal Living and Dining Rooms with Heavy Moldings and Beautifully Refinished HW Floors. Updated EatIn Kitchen with All New Stainless Steel High End Appliances and Corian Countertops. Huge Storage Space in WalkUp Attic. 17x13 Rear Screened In Porch off Dining Room/Kitchen, Great For Entertaining. Huge Den with New Floating Wood Laminate Floors,FP,New Built Ins,& Wet Bar. Spacious Utility Room with Entrance to 2 Car Garage . BackYard Partly Fenced For Pets. Don't Miss this Opportunity!  

Mortgage Update from Teesie Howell, Presidential MortgageGroup

Some of you may have seen the article in yesterday’s paper stating that there is a push to require a min. 10% downpayment on conventional loans.  This is just the tip of the iceberg, I’m afraid, as there is a push to eliminate Fannie and Freddie in their entirety, and let the private mortgage market handle the bulk of lending.  FHA and VA max. loan limits would be lowered too, to drive more borrowers away from government loans.  FHA will increase their monthly mortgage insurance premium again starting on April 18^th.  For most loans the premium will increase from .90 to 1.15.  So once again, there are real reasons to encourage borrowers to buy now.  The trifecta of low rates, low sale’s prices, and low downpayment mortgages is not going to last forever!  

Teesie Howell

Loan Officer

Presidential MortgageGroup

4701 Cox Road Ste. 365

Glen Allen, VA.  23060

217-4925 (direct)

804:512-1578 (cell)

804:270-1855 (fax)

teesie.howell@presidential.com

If There Were Ever A Time to Buy, The Time is Now!!!

http://www2.timesdispatch.com/business/2011/feb/19/TDBIZ02-the-nations-housing-for-feb-19-ar-853957/


"Fixed 30-year mortgage rates in the 5 percent range? Minimum down payments below 5 percent? Jumbo-size home loans for high cost markets at regular interest rates? Kiss them goodbye - possibly sooner than you might guess."

Based off the Obama administration's housing report and proposed remedies, the immediate future is uncertain for homebuyers and homeowners alike. The administration is looking to severely reduce the size of the federal government's role in the mortgage industry, which accounts for a huge percentage of the current market share..."where will the buyers who depend upon FHA today for affordable financing turn when that sharp cut has been accomlished?"

"Bottom line: Get ready to pay more for mortgages!"

NEW LISTING: WEST END TOWNHOME

Knollingwood Townhome Community

2065 Airy CIR

Henrico, VA 23238

$159,000

LOCATION, LOCATION, LOCATION!!! Desireable Pocahontas and Godwin School District!!! Convenient to Every Day Conveniences, Interstates, Shopping/Short Pump, Restaurants, etc. 2 Bedroom, 2.5 Bath TownHome Completely Updated in Tasteful Fashion. Updated Systems, New Windows, New Kitchen with Stainless Steel Appliances, New Flooring, Spacious Bedrooms, Updated Baths, Fire Place, Large Living Area on First Flr, Large Deck Off Back of Unit with Good Size Fully Fenced Back Yard. Great Location in Subdivision Next to Nice Single Family Homes. Pull Down Attic with Ample Storage Space. Affordable Competitive Price Ready to MOVE!!! Well managed HOA...fee has only gone up $2 in 5 years!!!

http://patgee.valuedagent.com/purl/buyers.htm

Changes Coming in the Mortgage Industry...BUYERS BEWARE!!!

http://www2.timesdispatch.com/news/2011/feb/11/white-house-wants-limit-government-backing-mortgag-ar-836456/

The Obama Administration came out with three separate proposals yesterday reducing the governments role in the mortgage industry. All three proposals would undoubtedly lead to higher interest rates and costs for borrowers.

Based on the current economic status and how we got into this whole mess, I don't think anyone would disagree that changes are necessary for a vibrant economy and real estate market in the future. We are finally beginning to see some stability in the market, so is this the time to test the waters with those changes?

Laura Lafayette, CEO of the Richmond Association of Realtors, claims "we are very concerned that this move would severely limit financial options for prospective buyers." There is growing recognition that drastic action could upend the housing finance system, and in turn threaten the greater economy.

Check out the attached article in today's Richmond Times Dispatch to see what the three proposals entail and the local experts thoughts on where we are headed.

http://www2.timesdispatch.com/business/2011/feb/10/TDBIZ01-foreclosure-filings-drop-but-only-temporar-ar-832589/

Although a lack in foreclosures on the market in recent months is less a sign of recovery and more that lenders have been hindered in their new foreclosure review procedures; foreclosures are expected to cease towards the end of this year and 2011 is expected to be the year we move forward from this foreclosure lull and get back to a healthier market!

PRICE REDUCTION - Maybeury Neighborhood

9316 Avalon DR

Richmond, VA 23229

$288,000



Completely renovated TURN-KEY property priced to SELL!!! All conveniences & ammenities of a New Home but Established Neighborhood. 4bedroom, 2.5 bath, Brick Home. Don't Miss this Opportunity in Desirable Maybeury Neighborhood. Kitchen, Flooring, Fixtures, Baths, Paint throughout...All Redone! Two Car Wide Driveway, with Carport/Screen Porch. New C/A (6/09), Mature Landscape, Alarm System. Completely Fenced Backyard with Double Gate. Friendly Neighborhood Walking Distance to Maybeury Elementary, Avalon Pool, & Close to Shopping, Interestates, & Restaurants. TWO Wood Burning FP's. New Vinyl Windows. Attic with Great Storage. All Appliances Convey. Updated Electrical, Generator Ready, just plug it in!  Second Owner's, well maintained and updated along the way, Ready For Your Family Today!