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Old 03-06-2016, 07:37 PM
 
7 posts, read 5,714 times
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Well I guess the first step is finding an agent. I will ask him to look into Dumfries or something closer and see what comes out of that. Also i need to pick up a couple book on home buying as I dont know much about offers and such. I have good credit and little to moderate history.
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Old 03-06-2016, 07:44 PM
 
Location: northern va
1,582 posts, read 2,116,811 times
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Sadly, Dumfries doesn't currently offer much by way of a detached home, garage or not, nor Triangle (based off the amount you listed in your post)

Shifting topic slightly.. look into the possibilty of using the soon to be released grant program. Not all lenders will offer it so ask around. These grant monies might help you to offset either your down payment, or closing costs, possibly opening up a couple more options. Also, if you are a member of Navy Federal CU, you might be able to work with their $0.00 down, no monthly mortgage insurance option.

SmartMoney (here on city data) might offer this program.. If you qualify for it, might be worth looking into.

Last edited by kww; 03-06-2016 at 08:47 PM..
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Old 03-06-2016, 07:52 PM
 
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yep, I really need to educate myself. Would you recommend foreclosures that need some work? right now all I am doing is looking at red fin and zillow, and I see foreclosurres that have lower prices but i dont know how true they are.
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Old 03-06-2016, 08:08 PM
 
Location: northern va
1,582 posts, read 2,116,811 times
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Quote:
Originally Posted by Eddiea57 View Post
yep, I really need to educate myself. Would you recommend foreclosures that need some work? right now all I am doing is looking at red fin and zillow, and I see foreclosurres that have lower prices but i dont know how true they are.
my opinion, peruse those sites, but, try and keep in mind that these same sites often offer listings that are already under contract or withdrawn from the MLS, or, in worst case, already sold.

Try and find an agent (and possibly loan officer/lender) that you feel comfortable with (ask friends, family, coworkers etc) and ask the agent to run an MLS search with your criteria. Complete an application with said lender and see where you stand. Shop that lender against others if necessary, including your local bank/credit union, Try and soak in not only the rate offered to you, but also the closing costs the lender needs (as they vary with lenders). Also, try and get an idea from the loan officer what kind of time they need to do the loan. Plenty of loan officers will offer an aggressive, possibly not accurate, settlement date (just to get your business), so try and budget some additional time to allow your financing to get in order etc.

Foreclosures may offer a decent value, but are pretty much always offered in as-is condition. Keep that in mind while previewing homes online.

Last edited by kww; 03-06-2016 at 08:48 PM..
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Old 03-07-2016, 02:10 PM
 
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Eddiea57 - first make sure that since you plan to park a boat that you ask and confirm "if" you are allowed to do so in your new neighborhood. A lot of HOA's (even those with less oversights/rules than others) have strong regulations on parking boats, trailers, etc in the driveway.

With regards to the red fin site you mentioned, I personally have found it to be very accurate and timely; as well as totally up-to-date with listing status. I have used it successfully in searching for my homes. (Also used their agents, which if you do the research - like you should with ANY agent - I found did as much for me as a "full service" agent but with a benefit to me with a rebate that can be used for closing costs.) (amount varies based on house but is always fully listed)

I would recommend as a first step finding a mortgage broker that you like and trust; get an understanding what special loan programs/offerings are available for you as a first-time buyer and what you qualify for. THEN start your search knowing a better goal set.

While probably not an option with a boat, you may want to consider a townhouse. Many of them are similar size or larger; many have 2 car garages. They may give you a bit "more" for your money to start out. Then 5-7 years down the road if you choose the right location (desirable) it will be easier for you to sell and move "up" into your next perfect home.
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Old 03-08-2016, 07:39 AM
 
Location: Annandale, VA
74 posts, read 58,613 times
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I highly recommend the Unruh Team - they are experts in Stafford County and will make sure you understand the process while helping you find the best home. Here is their website: aquia harbour, aquia harbour real estate, northern virginia real estate, virginia real estate, fairfax county real estate, northern virginia new homes,stafford real estate, unruh

Tell them Jamie sent you!

Best of luck!
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Old 03-13-2016, 03:07 PM
 
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If anyone has time, what do you think about this house


2989 birch creek court
Dumfries va

It is a foreclosure i am thinking it might be worth the extra money considering the location
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Old 03-13-2016, 05:03 PM
 
Location: northern va
1,582 posts, read 2,116,811 times
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Quote:
Originally Posted by Eddiea57 View Post
If anyone has time, what do you think about this house


2989 birch creek court
Dumfries va

It is a foreclosure i am thinking it might be worth the extra money considering the location
I hope you wrote this just looking for feedback and already put your offer in as they have accepted an offer on that house.
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Old 03-13-2016, 06:50 PM
 
7 posts, read 5,714 times
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Quote:
Originally Posted by kww View Post
I hope you wrote this just looking for feedback and already put your offer in as they have accepted an offer on that house.


Why do you say that? Does that mean i am too late.
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Old 03-13-2016, 07:35 PM
 
Location: northern va
1,582 posts, read 2,116,811 times
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Quote:
Originally Posted by Eddiea57 View Post
Why do you say that? Does that mean i am too late.
From what I see on my end, an offer has been accepted. In cases like this (REO properties), there is typically bank addenda that follows an accepted contract. Until that addenda is signed off by both sides, the seller tends to keep the status as Active in the MLS (but usually notes that they have an accepted offer and are therefore just working out the last of the addenda).

If you are working with an agent on your behalf, they should be able to confirm the true status of the property fairly quickly by reaching out to the listing agent.

if what I wrote above it accurate, yes, you would be too late on this home.
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