Woodbridge Virginia Real Estate News: December 2009

Real Estate News About Woodbridge Virginia

Homes For Sale In Woodbridge VA

Foreclosure Fraud And Fake Foreclosures Are Popping Up All Around

When you buy a home with a home loan from a mortgage banking company, your loan will be sold by your lender to another bank.

If you own a home, and you get notice that your home loan shall be sold to another bank, telling you where and how you will make your payments, you MUST obtain TWO letters, or you could become another victim of loan fraud.

For example, pretend you have your monthly mortgage payment East West Mortgage Company since you bought the house last year.

One day, you get a letter from North Star mortgage company saying East West sold your loan to North Star, so please send all future payments to a post office box in a city far away.

If East West truly sold your mortgage to North Star, you will also get a letter from East West Mortgage telling you that North Star Bank bought your loan, and East West will tell you to send future loan payments to the EXACT same address given in the letter from North Star Bank.

BEWARE!!

Thousands of home owners fall prey to FAKE mortgage sale letters from crooks who crank out tens of thousands of FAKE "Your loan has been sold..." letters.

Most folks have been warned about fake loan sale letters by their lender, their Realtor, and friends. 

The crooks know their scheme is a "Numbers Game".  Send out ten-thousand letters, and if just 1% of the recipients fall for the scheme, that's 100 victims sending the crooks hundreds of thousands of dollars for a month, maybe two.  By the time the FBI pounces, the crooks have already abandoned the post office box they rented under a fake name; the checks have been deposited in a bank, withdrawn, laundered, and sent to an off-short private bank. 

Most folks have been warned to obtain a loan sale letter from their current lender, in which the name and address of the new mortgage company is stated.  Next, compare the letter from the loan company that buys your loan to the letter from the company that is selling your loan.

Be sure the two letters support each other.

If you have any doubts whatsoever, just call the mortgage company that has processed your payments, and get confirmation from Customer Service.

Did this post tickle your curiosity?  CLICK HERE to send your question.  Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS.  You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation.  The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing.  Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders. 

Real Estate News For Woodbridge VA

New Home Builders Offering Best Value Among Homes For Sale In Woodbridge VA

Beware: Never Buy A New Home Alone

You Are Entitled To Have A Buyer Agent Working For You When You Buy A New Home Around Woodbridge

84% Of New Home Have A Buyer Agent Negotiate, Advocate, On Behalf Of Home Buyers

Your Buyer Representation Is FREE To You    The Builder Pays Your Buyer Agent Fee

Did you know that, unlike fish, sharks do not have muscles to push water through their gills for the vital oxygen they need to stay alive?

Sharks are in constant motion, mouths wide open to push water from their mouths through their gills to stay alive.

Like sharks, home builders must keep moving forward, keep on building and selling houses that generate cash-flow to stay viable.

Northern Virginia home builders attract buyers away from the resale market by reducing prices, undercutting the resale market by giving you more home, with more features, for less money.

However, that super-low "Starting Price" can skyrocket if you buy a new home alone.  Home builders have ten (10) profit-centers they use to get more money out of you between contract and closing.

I'm one of the guys who is hired to teach advanced selling skills to new home on-site Sales Managers you find in model home sales offices. 

I've been a highly sought-after Sales Trainer for home builders and vairous other companies since 1985.

As a practicing Realtor, I also help nice folks like you buy new homes, getting the most home, at the lowest prices, with the fewest hassles.

When you get me working as you Buyer Agent, to buy a new home from a builder, you get the insider secrets about the ten (10) profit centers builders use get the most money out of you.

No, I do not teach seminars for any builder that even THINKS about asking me to sign a non-disclosure statement that takes away my power to help you.

Together, we can use my inside information to help you get the most house for your money.

You get me as an enthusiastic negotiator for you, to be your advocate, and your protector. 

History Lesson: In the Go-Go days, 2000-2005, new homes sold at premium prices because resale homes were scarce.

As the prices of homes fell 2005-2008, builders began systematically undercutting the prices of resale homes as prices fell, giving buyers incentives to buy new homes.

For example, a new homes community around Woodbridge that was selling homes in 2005 for $550,000 - $650,000 base prices, is now selling the exact same homes, with same blueprints, same number of sticks-and-bricks, with base prices $399,000 - $450,000.

I was waiting to check-out at the Wal-Mart just down the street when I overheard a whiny lady with an annoying attitude tell her friend, "My builder soaked me for $200,000 extra profit with we bought in 2004. That @#%* builder sells my exact same home I paid $650,000 for in 2004 for just $450,000 now.  The builder ripped us all off for obscene profits."

No.

That's not the case.

Builders typically earn a gross profit of 7% on each house sold.  The net profit after paying operating expenses is mighty slim.

So how did the builder lower the base prices $200,000?

The land developer lowered the price of ready-to-build building lots $200,000 to keep the builders from leaving.

In our area, builders DO NOT develop land into ready building lots.  Land development companies specialize in buying land, zoning changes, designing streets, lots and common area, gain County approval, clear the land, dig trenches for storm drains, electric lines, sewer lines, water lines, phone lines, run curb and gutters to define streets, then pave those streets, thus creating finished building lots for home builders.

In 2004, a finished, 1/5 acre building lot around Woodbridge in a planned community sold to the builders for $250,000 - $300,000.  Builders building homes in the $400,000-$500,000 often paid more for the land than the cost of constructing a finished home.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.