Coldwell Banker Residential Brokerage of NRT Ranked #1 Residential Real Estate Company in USA

Real Trends 500 ranked NRT LLC #1 Residential Real Estate Company in the U.S. for 15 consecutive years – ranked by Closed Sales Volume for 2011. NRT and Coldwell Banker Residential Brokerage is #1 real estate company with the Highest $$$ volume of sales and #1 real estate company with the lowest average days on the market.

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Contact Vivianne Rutkowski for a professional real estate representation:

Vivianne.Rutkowski@cbmove.com; VivianneRutkowski@gmail.com;

540-229-5429

http://www.cbmove.com/Vivianne.Rutkowski

http://www.RealtorVivianneRutkowski.com

Watch the video:

http://www.youtube.com/watch?feature=endscreen&NR=1&v=ihWmTChfPa4

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Countries with Soaring Home Prices and Hottest Housing Markets in 2012

Worldwide, real estate prices have made large gains over the last five years, which has raised fears in many countries about brewing housing bubbles.

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City vs. Suburb: More Americans Favor Living Closer to the City in 2012 – Northern Virginia Homes and Washington, D.C. Metropolitan Area

More Americans are showing a preference for living closer into the city than the outer suburbs, according to newly released U.S. Census data. The annual rate of growth in American cities and surrounding urban areas recently surpassed exurbs for the first time in two decades.

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The Fastest Way to Improve Home Values is to Live in a High-Scoring Public School District

Northern Virginia Public Schools: https://viviannerutkowski.wordpress.com/category/2-re-buyer-resources/nova-schools/

Directs links to Public Schools in  Fairfax County VA, Loudoun County VA, Prince William County VA, Arlington County VA, Fauquier County VA: http://www.realtorviviannerutkowski.com/schoolinfo.shtml

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Living in a high-scoring public school district can raise home values up to $205,000 higher compared to homes located in neighborhoods with low-scoring school districts, according to a new study by Brookings Institute. Brookings analyzed the nation’s 100 largest metro areas to find the differences between living near a high-scoring public school and a low-performing school.

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“We think of public education as being free, and we think of the main divide in education between public and private schools,” Jonathan Rothwell, a senior research analyst at Brookings, told The New York Times. “But it turns out that it’s actually very expensive to enroll your children in a high-scoring public school.” The cost of living in a high-scoring public neighborhood can be higher than paying a private tuition at a school, researchers noted.

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Housing costs near high-scoring schools — those in the top one-fifth of schools in the area — were 2.4 times higher on average, or $11,000 more per year, than homes located in school districts in the bottom fifth, the study found.

“Some of the areas with the largest differences in housing costs also have the widest gaps in school test scores,” reports CNNMoney about the study’s findings.

Students from low-income families — classified as those who are eligible for free or reduced-price school lunches — were found to be more likely to attend schools that score in the 42nd percentile on state tests, according to Brookings Institute. On the other hand, students from middle- to high-income households, on average, tend to attend schools that score in the 61st percentile.

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SOURCE: Brookings Institute; “Test Scores and Housing Costs” The New York Times;  “Living Near Good Schools will Cost an Extra $200k” CNNMoney; REALTOR Magazine; Vivianne Rutkowski

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High Gas Prices Fueled the Housing Crisis in 2007 According to the Economists – Transportation Costs vs Home Values in Northern Virginia

Most of us know the housing bubble of 2002-2006 and the subsequent housing crash that followed in 2007 was caused by the deregulation of the lending industry by the government, which brought into the market many sub-prime lenders offering no-downpayment-interest-only-loans,  ARM loans and option ARM loans, and other “exotic” loans.

This easy credit and availability of money artificially increased demand for homes, which in turn artificially increased home prices until they became unsustainable, which led to the housing crash – all in a span of a few short years.

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Fannie Mae Short Sales Made Easier by Mortgage Insurers

Five mortgage insurers have granted Fannie Mae mortgage servicers the authority to complete a short sale or deeds in lieu of foreclosure without getting their separate approval, HousingWire reported.

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Traditionally, mortgage insurance groups have had to give the OK before a short sale could be processed on a property with a guaranteed loan.

Now, without that extra step of mortgage insurers’ approval, Fannie mortgage servicers may be able to speed up short sale approvals on Fannie-backed loans.

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The PMI Group, which filed for bankruptcy in November 2011, is the latest mortgage insurer to grant Fannie Mae the authority to no longer wait for its approval on short sales starting with February 2012.

The other four mortgage insurers that also gave Fannie Mae the authority are:

• Genworth,
• MGIC,
• Republic Mortgage Insurance Co.,
• Radian Guaranty.

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Regardless, Fannie Mae has instructed its mortgage servicers to make sure a short sale does not conflict with any existing mortgage insurance coverage before approving it.

More here: PMI Group Latest Mortgage Insurer to Give Fannie Mae Short-Sale Authority

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SOURCE: HousingWire 

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Pros and Cons of Purchasing a Foreclosure – Homes for Sale in Loudoun County VA, Fairfax County VA, and Prince Williams County VA

Foreclosures can offer big bargains, but buyers need to be careful that they don’t get over their heads in purchasing a home that may need more repairs than they bargained for.

Foreclosures are usually sold as-is, and homes that are left vacant standing too long can have a lot of maintenance problems.

Real estate experts suggest buyers consider the following questions:

1. How long has the home been vacant? Be cautious of a foreclosed home that has stood vacant for more than a few weeks or had its utilities shut off a long time. A home can deteriorate quickly when heating, cooling, electricity, and running water have been turned off for awhile.

2. How old is the home? Homes that are more than 50 years old may have a failing plumbing system or inadequate electrical wiring.

3. How does the home look? Are there broken windows, gutters hanging down, or damaged siding?  Buyers need to trust their instincts. If the house looks bad from the outside, it’s probably equally bad or worse inside.

4. Is there anything missing? Sometimes former owners remove anything of value from the home, such as built-in light fixtures, bathroom tile, water heaters, air-conditioning units, and hardwoods, says Bill Jacques, president-elect of the American Society of Home Inspectors.

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Housing experts encourage buyers to get a home inspector to look at the property, even if it is sold as-is, so that home buyers know any repairs needed and cost estimates before they purchase the home.

“Buying a bank-owned home gives you the opportunity to enter the market at a very low price level,” says Dorcas Helfant, a past president of the National Association of REALTORS®. “You can find terrific values among foreclosures, especially if they’re not in too bad shape. But, remember, these houses are discounted for a reason.”

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SOURCE: “Foreclosed Homes May Need Extensive Repairs,” The Oklahoman

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Banks Have Tightened Lending Standards due to Lower Supply of Money

Home ownership affordability is at a record high due to low home prices and all-time low mortgage rates. But housing experts have blamed banks’ tightened lending standards for keeping more buyers on the sidelines because they are unable to qualify for financing. 

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Lending standards increased sharply after the financial crisis in 2008, and even after the recession ended in 2009. Lenders have yet to ease their stricter standards, according to a report by Goldman Sachs economists Hui Shan and Jari Stehn.

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Why? The researchers say it’s mostly because there’s less money available to lend. 

“During the housing boom, as brokers produced a flood of new mortgages, Wall Street bankers churned out a torrent of mortgage-backed bonds for investors waiting to snap them up,” an article at MSNBC.com notes, in describing the study’s findings.

“That market has all but vanished; 90 percent of new mortgages written today are backed by the government.”

Also, researchers found that lenders are swamped with more paperwork, which is also causing delays in processing. Many lenders have issued stricter documentation requirements before they’ll approve a loan. Nowadays, nearly 90 percent of mortgage applications require “full documentation” before getting approved. From 2000 to 2006, less than 60 percent of applications required “full documentation,” researchers found.

Editor’s Note: Another reason banks have tightened up their lending is because Fannie Mae and Freddie Mac are requiring banks to repurchase some of the loans they’ve made. As reported by Bloomberg News, banks don’t want to get hit with more mandatory repurchases, so they have added “overlays” (such as minimum downpayment, debt ratio, etc.) to FHA, Fannie, and Freddie standards, and are only making the most conservative loans.

SOURCE:  MSNBC.com 

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10 States With the Highest Foreclosure Rates in 2011

For the fifth consecutive year, Nevada continues to have the highest foreclosure rate in the country, despite a 31 percent drop in the state’s foreclosure activity from 2010 to 2011, RealtyTrac reported.

Several states continue to see a large amount of foreclosures, which are putting downward pressure on overall home prices.

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The states with the highest foreclosure rates for 2011 are:

1. Nevada: 6% (1 in 16 housing units received at least one foreclosure filing in 2011)
2. Arizona: 4.14% (or 1 in 24)
3. California: 3.19% (or 1 in 31)
4. Georgia: 2.71% (or 1 in 37)
5. Utah: 2.32% (or 1 in 43)
6. Michigan: 2.21%
7. Florida: 2.06%
8. Illinois: 1.95%
9. Colorado: 1.78%
10. Idaho: 1.77%

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Nationwide, 1 in 69 housing units or 1.45 percent of home owners received at least one foreclosure filing during 2011, which is down from 2.23 percent in 2010 according to RealtyTrac.

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SOURCE: RealtyTrac

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Federal Housing Administration Extended the Anti-Flipping Waiver for FHA loans through December 31, 2012

The U.S. Department of Housing and Urban Development announced that it was extending a 2010 waiver of its anti-flipping regulation through December 31, 2012. The waiver was scheduled to expire Saturday, December 31, 2011.

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The anti-flipping rule instituted in 2003 forbade Federal Housing Administration-backed loans from being used to buy homes that have been owned by the seller for less than 90 days.

It was put in place in 2003 to thwart the kind of unscrupulous home flipping that drove up real estate prices during the boom years of 2003-2006 and which is partly blamed for the housing market crash. In 2010, FHA temporarily waived this regulation through January 31, 2011, and later extended that waiver through the remainder of 2011.

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But with mounting foreclosures and a shadow inventory of 1.6 million not-yet-listed homes nationwide, federal officials said blocking the sale of flipped homes would hurt the housing market.  This is part of FHA’s effort to help stabilize home values and improve conditions in communities experiencing high foreclosure activity.

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All other terms of the existing Waiver will remain the same, including conditions to prevent the predatory practice of property flipping, in which properties are quickly resold at inflated prices to unsuspecting borrowers.

Compliance with the FHA anti-flipping waiver requires that:

1. All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction;
2. In cases in which the sales price of the property is 20% or more above the seller’s acquisition cost, the lender must meet specific conditions and document the justification for the increase in value;
3. The waiver does not apply to the Home Equity Conversion Mortgages (HECMs).

Read more about anti-flipping rule: http://usgovinfo.about.com/cs/consumer/a/antiflipping.htm

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The FHA anti-flipping rule does NOT apply to the conventional loans. Fannie Mae and Freddie Mac have never imposed a 90-day waiting period to avoid flipping.  However, many buyers are surprised to find out that some lenders and, more importantly, many mortgage insurance companies have often set their own rules.

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SOURCE: National Association of REALTORS

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Conforming Loan Limits and FHA Loan Limits at $625,500 for High Cost of Living Areas in Northern Virginia and Arlington County VA, Fairfax County VA, Fauquier County VA, Loudoun County VA, and Prince William County VA as of October 1, 2011

Senate Passed Loan Limit Extension Amendment – FHA loan limits back at $729,750 – click the link for more information: https://viviannerutkowski.wordpress.com/2011/11/16/conforming-loan-limits-for-conventional-mortgages-and-fha-loan-limits-at-729750-for-high-cost-of-living-areas-in-northern-virginia-and-arlington-county-va-fairfax-county-va-fauquier-county-va-lou/

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On October 1, 2011, mortgage loan limits for the government-sponsored enterprises Fannie Mae and Freddie Mac (GSEs) and the Federal Housing Administration (FHA) dropped from temporary levels to reduced limits based on permanent criteria established by Congress in 2008.

The base limit for most of US remains at $417,000, but the formula for establishing limits for high cost areas, like Northern Virginia, changed from 125% to 115% of the area MEDIAN HOME PRICE which means a drop in loan limit from $729,750 to $625,500.

It means that $625,500 is the maximum loan amount for one unit residential properties in high cost areas that can be purchased and securitized by Fannie Mae and Freddie Mac (GSEs).

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As with the conventional loans insured by GSEs (Fannie Mae and Freddie Mac), on October 1, 2011, the loan limits for the FHA loans also declined due to changes set in law. FHA loan limits are set slightly differently than those for Fannie Mae and Freddie Mac. By law, the lowest limit for any county in US for one-unit homes is $271,050. The ceiling for FHA loans in high cost areas declined on October 1, 2011 from $729,750 to $625,500 for one unit residential properties.

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The new 2011-2012 GSE Conforming Loan Limits in Washington, D.C. area, Northern Virginia and Arlington County VA, Fairfax County VA, Fauquier County VA, Loudoun County VA, and Prince William County VA are as follows:

• 1 – UNIT         $625,500
• 2 – UNIT         $800,775
• 3 – UNIT         $967,950
• 4 – UNIT      $1,202,925 

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The loan limits for VA Loans, mortgages guaranteed by the Department of Veterans Affairs, will change on January 1, 2012.  The current VA loan limit in Northern Virginia area is $818,750 thru December 31, 2011.  http://www.googlerealestate.com/va-loan-limits-2011/

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The new GSE Conforming Loan Limits for all counties in USA and Northern Virginia, Arlington County VA, Fairfax County VA, Fauquier County VA, Loudoun County VA, and Prince William County VA: http://www.nahb.org/fileUpload_details.aspx?contentTypeID=3&contentID=159279&subContentID=353571&channelID=311

The new FHA Loan Limits for all counties in USA and Northern Virginia, Arlington County VA, Fairfax County VA, Fauquier County VA, Loudoun County VA, and Prince William County VA:
http://www.nahb.org/fileUpload_details.aspx?contentTypeID=3&contentID=159279&subContentID=353572&channelID=311

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Click here for Mortgage Calculators and Interest Rates TODAY

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

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Investors Chose Renting to Tenants Over Flipping in July 2011 – Foreclosures, Auctions, and Investment Opportunities in Fairfax County VA, Loudoun County VA, and Prince William County VA

The days of flipping houses for big profits have all but vanished in many markets as more investors see bigger profits in rentals, according to an article by CNNMoney.

Investors flipped only 50% of their purchases in July 2011, down from 75% a year earlier, according to Tom Popik, research director for Campbell Surveys, which tracks housing trends for major banks and government agencies. Investors held onto the other 50% to rent out.

A recent survey by the company HomeVestors found that their investor clients were 57% more likely than two years ago to buy a property for renting than to flip.

Demand for rentals has been on the rise because many homeowners lost their homes to short sales and foreclosures, and rents are up about 25% from a few years ago. Housing analysts say that investors are buying properties cheaply and then earning good returns immediately from renting them out.

Most real estate investors are individuals and small partnerships who tap their own assets. They use savings, retirement accounts and home equity lines of credit for the cash they need.

Flippers can turn that capital over several times a year, but if they buy and hold, they deplete their cash and can make no new purchases.

“Cash buyers are driving the (foreclosure) market these days,” said Anthony Sanders, a professor of real estate at George Mason University. “Eventually, they’ll run out of cash.”

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NOTE: FHA loans and VA loans require the property to be in a safe, livable condition. Therefore, many FHA and VA buyers do NOT qualify to purchase some of the foreclosed homes that were ransacked and destroyed by foreclosed homeowners. Those homes can only be purchased by cash buyers, investors, conventional loan buyers, or FHA loan buyers who use (203)k Renovation loan.

Read CNN Money article here.

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SOURCE: CNN Money,  REALTOR Magazine

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

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Tax Credits Available for Green Updates and Green Energy Efficient Improvements Done by December 31, 2011

Adding green technology into a home can help home owners save money in a long run but some green improvements are expensive and many home owners may not be able to afford the costly upfront investment.

Several tax credits are available to help home owners save on green updates.

Here are two main tax credits available for those interested in making energy efficient improvements to their homes:

1. Wind, Solar, Geothermal and Fuel Cell Tax Credit:

This tax credit is available for both existing homes and new construction. Home owners can receive a tax credit up to 30 percent off the cost of their improvements between Jan. 1 and Dec. 31 of this year. The following green updates qualify:

• Geothermal heat pumps
• solar panels
• solar water heaters
• small wind energy systems
• fuel cells.

2. Qualified Energy Efficiency Improvements:

This credit gives a 10 percent tax credit for purchases that were “placed in service” between Jan. 1 and Dec. 31, 2011.
According to the National Association of Home Builders: “The maximum credit for a taxpayer for all taxable years being $500, and no more than $200 of such credit may be attributable to expenditures on windows. This rule means that taxpayers who have claimed $500 or more of this tax credit in prior years, particularly 2009 and 2010, can no longer participate in the program.”

Learn more about what upgrades are eligible as well as how to apply.

More about Tax Credits for Green Improvements in 2011: http://www.irs.gov/newsroom/article/0,,id=220989,00.html    and  IRS 5695 Tax Form in 2010 http://www.irs.gov/pub/irs-pdf/f5695.pdf

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SOURCE: IRS,  National Association of Home Builders

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IRS 1031 Exchanges, Like-Kind Exchanges and Deferring Capital Gains Tax on Investment Opportunities & Foreclosures in Fairfax County VA, Loudoun County VA, and Prince William County Virginia

IRS 1031 EXCHANGE

1031 Exchanges allow taxpayers DEFER the payment of the CAPITAL GAINS TAX by selling one property and exchanging it with another LIKE-KIND property. This method allows to defer a tax payment liability that normally would have to be paid whenever capital gains from the sale of real estate property exist.

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CRITERIA for IRS 1031 TAX-DEFERRED EXCHANGE

• The properties must be like-kind.
• To be totally tax free, the acquisition cost of the REPLACEMENT property MUST be EQUAL to OR GREATER than the adjusted sales price of the RELINQUISHED property.
• The total cash equity (equity less selling costs) from the RELINQUISHED property must be reinvested in the REPLACEMENT property (or properties). Any cash NOT reinvested (cash boot) is subject to capital gains tax.
• The REPLACEMENT property must have mortgage debt or new cash added equal to or greater than the mortgage paid off or assumed on the RELINQUISHED property.
• The REPLACEMENT property MUST be IDENTIFIED in 45 DAYS and be settled in 180 DAYS for the IRS 1031 Exchange to be allowed – up to three potential replacement properties may be identified.
• QUALIFIED INTERMEDIARY must be used and notified of the Exchange for IRS 1031 Exchange to be allowed.
• Reverse Exchange is allowed

The RELINQUISHED property and the REPLACEMENT property MUST be used as an INVESTMENT or BUSINESS property by the EXCHANGOR.

However, it is NOT important how the buyer of the RELINQUISHED property plans to use the property (ex. Exchangor used the property as a rental home and buyer plans to use it as a primary residence) and it is NOT important how the REPLACEMENT property is currently used, only that it will be used by EXCHANGOR as an investment or business property (ex. Currently the property is used as a private second home, but the exchangor plans to use it as rental vacation home, or currently used as a primary residence, but exchangor plans to use it as a rental property).

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The ROLE of QUALIFIED INTERMEDIARY

• QI receives the 45-DAY Identification Notice
• QI gives instructions to the Settlement Agent
• QI establishes a Qualified Escrow Account
• QI delivers Escrow Funds for Settlement
• QI arranges direct Deeding of properties
• QI controls the Escrow Funds – Exchangor CANNOT receive, pledge, borrow, or receive any cash (except taxable cash boot) for the tax free IRS 1031 Exchange to take place.

Theoretically, any person can be QUALIFIED INTERMEDIARY who has NO business relationship with EXCHANGOR.  Therefore, exchangor’s real estate agent, broker, attorney, accountant, most family members and others CANNOT act as a qualified intermediary for exchangor.

It is best to use a CERTIFIED EXCHANGE SPECIALIST.  I work with Realty Exchange Corporation – contact me for details.

Like-kind investment or business or rental property includes: homes, vacation rentals, land, farms, office condos, warehouses, etc.

To search Washington, D.C. area, Northern Virginia, and Arlington County VA, Fairfax County VA, Loudoun County VA, and Prince William County VA foreclosed properties, bank owned  properties, and foreclosures directly from MLS, visit my website: http://www.realtorviviannerutkowski.com/search.shtml

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NOTE: There is CAPITAL GAIN EXCLUSION on the sale of PRINCIPAL RESIDENCE. The tax exclusion is $250,000 for a single person and $500,000 for a married couple and applies to PROFIT from the sale (profit = sale price less original purchase price less cost of improvements less any costs associated with selling the property). The homeowner must use the house as a principal residence for 2 out of 5 consecutive years. The 2 years do NOT have to be consequtive – contact your accountant for details. Unfortunately, in the post 2006 market most of the sellers are lucky to break even and to avoid a short sale or foreclosure. However, there are many homeowners who purchased their homes long ago and built up equity, or own their home free of mortgage, and do qualify for the capital gains exclusion.

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You can contact me directly by filling out the Contact Form, texting, email, or toll free number and cell phone:

CONTACT FORM

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VIVIANNE RUTKOWSKI

REALTOR®, ABR, GRI, SFR, CHRE, CDPE
Licensed in Virginia

KELLER WILLIAMS REALTY
50 Catoctin Circle NE, Suite 101
Leesburg,  VA  20176
Toll-Free:  877.765.3799
Mobile:       540.229.5429
Texting:      540-229-5429
E-Fax:          888.864.3374
E-mail: VivianneRutkowski@gmail.com
WEBSITE: www.RealtorVivianneRutkowski.com
WEBSITE: www.RealEstateWithViv.com
BLOG: http://VivianneRutkowski.WordPress.com
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[NOTE: name pronounced: ViviAnne Rootkovski ]

 

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REALTOR, 1031 Exchanges, Listing Agent and Buyer Agent, REOs, Bank Owned Properties, Foreclosures and 1031 Exchanges in Arlington County VA & Arlington VA, Fairfax County  VA & Great Falls VA, Chantilly VA, Centreville VA, Herndon VA, Reston VA, Vienna VA, Falls Church VA, Fairfax City VA, Fairfax Station VA, Oakton VA,  McLean VA, Burke VA, Annandale VA, Springfield VA, Fauquier County VA & Warrenton VA, Loudoun County VA & Ashburn VA, Aldie VA, Countryside VA, Cascades VA, Lansdowne VA, Hamilton VA, Leesburg VA, Lovettsville VA, Middleburg VA, Sterling VA, Chantilly VA, Great Falls VA, Purcellville VA, Stone Ridge VA, Round Hill VA, Waterford VA, Prince William County VA & Gainesville VA, Haymarket VA, Manassas VA, Triangle VA, Woodbridge VA

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

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Home Owners Become ‘Accidental Landlords’ While Waiting for Market to Recover – Rental Properties and Homes for Rent in Arlington County VA, Fairfax County VA, Loudoun County VA, and Prince William County Virginia

Many home owners who are unable to sell their home or cannot afford to drop the price any more  – and who do not want to hurt their credit by short selling or do not qualify for a short sale  –  are opting to rent out their homes until the market improves.

The number of formerly owned-occupied homes turned into rentals has soared in recent years, according to Harvard’s Joint Center for Housing Studies. In 2009, nearly 25 percent of single-family detached rentals had been owner-occupied two years earlier.

While there are many succesful homeowners-turned-landlords, there are some “accidental landlords” who are having regrets.

As many home owners are turning their homes into rentals to generate cash flow, many say the rental income is not enough. They say the cash flow being generated from the property is hardly enough to cover expenses, and in some cases, they are losing money. Accidental landlords also say that being a landlord is time-consuming and can be stressful, as they have to worry about everything from finding tenants to handling any repairs.

Anne Healy in Minneapolis fell into the landlord role after she bought another property and was unable to sell her current home at the price she wanted. She had turned down two offers on the home because she thought both offers were too low and decided renting would be a better option. “We were in denial,” she told the Minneapolis Star Tribune. “We’ve learned the hard way.”

She says the tenants created so much wear-and-tear on the house that she had to restore the home room by room. She also said she had to hound the tenants to pay rent. A year later, she decided she had enough and put her home back on the market. She sold it for $50,000 less than an offer she had turned down the previous year.

Homeowners turned landlords need to be realistic about the costs to maintain the rental property,  repairs, vacancy costs, and adequate screening of prospective tenants. Property managers can be a tremendous help, but they also are an additional expense which many new landlords, who need to make the monthly mortgage payments, simply cannot afford.

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To search  all Washington D.C. and Northern Virginia, Arlington County VA, Fairfax County VA, Loudoun County VA, and Prince William County VA MLS real estate listings and Homes For Sale by COUNTY, TOWN, ZIP CODE, LISTING NUMBER and MAP, visit my web site:   http://www.realtorviviannerutkowski.com/search.shtml 

or to search all area MLS HOMES FOR RENT:   http://www.realtorviviannerutkowski.com/cgi-bin/aa.fcgi?+YjQwNzhjMTgwMjIzMDEyZTIzNDk3MmZkYzc2MDQxNzkSlI0iYvs8pONPOTZVKqjlbrFvQoO6iADGtXnYXe8DrA%3d%3d

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SOURCE: Minneapolis Star Tribune

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Arlington County VA, Fairfax County VA, Loudoun County VA, Prince William County VA Real Estate Investments and Rental Homes – Protecting Vacant Rental Property

Zillow posted a good article for investors and owners of rental properties with 5 simple steps that should be taken to protect a VACANT rental property – or any vacant home.

1. Take down the “For Rent” signs – advertise online, do not use word “vacant”
2. Keep up the yard – make the house look occupied, not abandoned
3. Put the lights on a timer
4. Use the blinds – downstairs closed and upstairs open
5. Screen interested callers – protect address of the property and the vacant status

NOTE: It is also always wise to TURN OFF THE WATER in vacant homes to prevent flooding from burst water pipes.

Direct link to Zillow: 5-steps to protect your vacant rental property

SOURCE: Zillow.com

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Loudoun County Virginia Tax Rates – Real Estate Tax Rate at $1.285 and Personal Property Tax Rate at $4.20 for FY 2011-2012 in Loudoun County, Virginia

Loudoun County Virginia adopted the Budget for the new Fiscal Year 2011 – 2012, which begins July 1, 2011 and ends June 30, 2012.

Compare the tables for real property (real estate) and personal property (vehicles, etc.) tax rates for Northern Virginia counties.

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Loudoun County Virginia real estate tax rate and personal property tax rate per $100 of assessed value for the Fiscal Year 2011-2012 are as follows:

LOUDOUN COUNTY, VA	REAL PROPERTY	PERSONAL PROPERTY
TAX RATE	$1.285	$4.20

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http://www.loudoun.gov/Default.aspx?tabid=517

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NOTE: The above information is deemed to be accurate, but is subject to errors and ommissions and should not be relied upon without verification – contact the county directly to confirm.

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Prince William County Virginia Tax Rates – Real Estate Tax Rate at $1.204 and Personal Property Tax Rate at $3.70 for FY 2011-2012 in Prince William County, Virginia

Prince William County Virginia adopted the Budget for the new Fiscal Year 2011 – 2012, which begins July 1, 2011 and ends June 30, 2012.

Compare the tables for real property (real estate) and personal property (vehicles, etc.) tax rates for Northern Virginia counties.

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Prince William County Virginia real estate tax rate and personal property tax rates per $100 of assessed value for the Fiscal Year 2011-2012 are as follows:

PRINCE WILLIAM COUNTY, VA	REAL PROPERTY	PERSONAL PROPERTY
TAX RATE	$1.204	$3.70

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http://www.pwcgov.org//default.aspx?topic=040060002860000581

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NOTE: The above information is deemed to be accurate, but is subject to errors and ommissions and should not be relied upon without verification – contact the county directly to confirm.

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

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Fairfax County Virginia Real Estate and Personal PropertyTax Rates – Real Estate Tax Rate at $1.07 and Personal Property Tax Rate at $4.57 for FY 2011-2012 in Fairfax County, Virginia

Fairfax County Virginia adopted the Budget for the new Fiscal Year 2011 – 2012, which begins July 1, 2011 and ends June 30, 2012.

Compare the tables for real property (real estate) and personal property (vehicles, etc.) tax rates for Northern Virginia counties.

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Fairfax County Virginia real estate tax rate and personal property tax rate per $100 of assessed value for the Fiscal Year 2011-2012 are as follows:

FAIRFAX COUNTY, VA	REAL PROPERTY	PERSONAL PROPERTY
TAX RATE	$1.07	$4.57

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http://www.fairfaxcounty.gov/dmb/fy2012/adopted/overview/14_General_Fund_Revenue_Overview.pdf

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NOTE: The above information is deemed to be accurate, but is subject to errors and ommissions and should not be relied upon without verification – contact the county directly to confirm.

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

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Arlington County Virginia Real Estate and Personal Property Tax Rates – Real Estate Tax Rate at $0.958 and Personal Property Tax Rate at $5.00 for FY 2011-2012 in Arlington County, Virginia

Arlington County Virginia adopted the Budget for the new Fiscal Year 2011 – 2012 which begins July 1, 2011 and ends June 30, 2012.

Compare the tables for real property (real estate) and personal property (vehicles, etc.)  tax rates for Northern Virginia counties.

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Arlington County Virginia real estate tax rate and personal property tax rate per $100 of assessed value for the Fiscal Year 2011-2012 are as follows:

ARLINGTON COUNTY, VA	REAL PROPERTY	PERSONAL PROPERTY
TAX RATE	$0.958	$5.00

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http://www.arlingtonva.us/Departments/ManagementAndFinance/ManagementFinanceMain.aspx

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NOTE: The above information is deemed to be accurate, but is subject to errors and ommissions and should not be relied upon without verification – contact the county directly to confirm.

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NOTE: Advertisement Ads which appear in most posts on this Blog are run by WordPress and do NOT necessarily represent the views of Vivianne Rutkowski or Keller Williams Realty. Visitors to this blog are NOT obligated to click the ads to visit this blog.

Read Full Post »