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Northlake is a wonderful little neighborhood, just across from River Creek, one of the most well-known, gated, golf course communities in Loudoun County.  Talk about a desirable area, this is it!  Views of the lake and common area make you feel like you are in a park-like setting.  In actuality, you are minutes from downtown Leesburg, up the street from Lansdowne Town Center, and only about 5 minutes from the Greenway Toll Road, making this an easy commute to Dulles International airport, Tysons, and D.C. 

Pass on the ordinary, go for the awesome!

18309 Mill Ridge Terrace, Leesburg, VA 20176. 

Professionally Painted Formal Dining Room

Open Floor Plan

Family room

 
Kitchen with Center Island and Breakfast area

 

Schools in Northlake   Elementary/Frances Hazel Reid, Middle/Harper Park, High/Heritage

 

Demographics and Statistics for Leesburg, 20176 .

Find all the active listings  in Northlake, Leesburg, and Loudoun County, Virginia

 

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Yes, that beauty you found looks like a great deal, but as your mother once told you, you don’t get anything for nothing,and with foreclosed properties, otherwise known as REO’s, getting it to close isn’t always easy. 

My clients happened to fall in love with this home. 

 It was in pretty good shape for a bank-owned home; the only big issues were a few missing appliances, missing knobs on cabinets, dirty carpet, a broken water heater control, and slightly elevated Radon.  THE Bank USUALLY WILL DO LARGE REPAIRS like Radon since most buyers will not make an offer on a property with RADON, and the agents and bank must disclose this to any other potential buyers.

As an Accredited Buyer’s Representative, my goal is to always work to get you, the buyer, the best terms and price; however, even after you think you’ve won a bank owned property contract, things can get messy.  We negotiated a $10,000 seller subsidy, which, by the way, the bank agreed to pay.  ( Make sure you read the small print in the bank addendum)  The addendum mentioned something about not paying prepaid items or escrows.  Since most bank addendum are unique to each bank, it is necessary to read each sentence and understand what is being addressed.

We did everything PNC, required.  Funds and documents had to be given to the Title Company no later than 12:00 pm 3 days before settlement. My purchasers’ lender worked diligently and had the docs emailed to OUR Title Company  who then emailed everything to Sam White’s Office by  11:23 am on Thursday.  Our closing was scheduled to be the following Tuesday at 2:00 pm.

By the way, it is extremely important to have your own Title Company do your closing, not the Bank Owned Title Company.  Send me an email and I will be gald to follow-up on any questions you might have regarding this.

    THE PROCESSOR FOR THE BANK DID NOT OPEN HER EMAIL UNTIL 1:40 PM THEREFORE CAUSING A DELAY IN OUR CLOSING.  THE BANK HAS THE POWER TO DELAY CLOSING, BUT NEVER THE PURCHASER!   My clients WOULD HAVE BEEN CHARGED $100+ PER DAY if they delayed closing  THIS DELAY COULD HAVE CAUSE MY BUYER TO LOOSE HIS INTEREST RATE LOCK. Fortunately, HE HAD ONE MORE DAY TO GET TO CLOSING WITHOUT BEING PENALIZED.

Wednesday morning, I received word the bank was now reducing the seller subsidy to $8,000.  THIS WAS CLEARLY NOT WHAT WAS NEGOTIATED IN OUR CONTRACT.   We have the everything approved by the lender and if any changes are made to the HUD, we will need another approval.  This could take 1, 2 or more days, not something my buyer can afford to do.     

Talk about feeling like your held hostage to the bank!!  It as if each bank, the buyer’s lender and the REO Bank, PNC, are wanting to see who will back down first.  All we want to do is go to settlement on the home. 

So we pulled the trigger- WE REFUSED TO CLOSE WITH LESS THAN THE AMOUNT OF SUBSIDY WE HAD IN OUR CONTRACT!  Unfortunately, the listing agent reduced her commission $2,000 and made up the difference.

                              This must stop! Contracts must be dealt with fairly with all negotiated terms revealed.  Do the REO properties want to sell the property or not?  Who really is holding the cards?   I will be warning all my clients of these unfair practices and urging them to look elsewhere, especially with PNC owned properties. 

Tanya Spotts     

Director’s and President’s Club  2006-2008
This Spot’s For You!  ( http://ThisSpotsForYou.com )

 Long & Foster Realtors
508 E. Market St., Leesburg, VA 20176 

 Cell Phone: 703-618-1218

 Office Fax: 703-777-5627

Email: Tanya.Spotts@longandfoster.com

Loudoun County is known for its beauty!  Rolling hills and scenic vistas are everywhere.  What is difficult to find is a property surround by trees, private and serene, yet an easy access to all the surrounding areas.

Located within 2 miles of Purcellville and near Route 7, this home is located at

16205 Mountain Ridge Lane, Purcellville, Virginia 20132 

Take a Virtual Tour 

Search for homes and get accurate information with your own Listingbook account.  Make sure you click on the icon!!

Please give me a call or email me.  I will be happy to answer any questions or help you find “Your Special Spot!”

Tanya.Spotts@LNF.com

703.618.1218 begin_of_the_skype_highlighting              703.618.1218

Loudoun Women’s Resource Center

The WRC is had a “Cabi” Fashion Show at The Dock this past Monday, April 26th at 6:00 pm.  I cannot believe how much fun we all had modeling all the great clothes from “Cabi”. The event was free to the pubic and all proceeds from the sale  went to such a good cause-
 
 “Together we’re helping to grow the Loudoun Women’s Resource Center which in turn will be helping to build stronger families and communities in Loudoun County.”
  
I want to thank all my friends and clients who support our cause.  I also wish to thank my 87 year old mom who I invited to come join us and was later talked into being a model.  I am so very proud to have her walk beside me and supports everything I do.  My husband was the cinematographer, not a professional by any means, but the man who I depend on and is so talented in all that he does.  Thank you, Dan!  Visit me on my Facebook Fan Page and on WRC Fan Page

If you are searching for a new home in Brambleton, I am getting this one ready.  Just a little peak of what is to come….

I love driving into the neighborhood.  What a beautiful place to live!

 

Yes, you can be ready for the pool this summer by being a homeowner here at Bambleton.  Pool registration begins April 19th at the management office located at the community center, 42645 Regal Wood Drive from 9:00 am- 5;00pm. extended hours have also been set up to help those of you who cannot make during normal office hours.  you can come Saturday 5/8  or Saturday 5/29 form 9:00a.m.-12:00p.m.  or  weekdays on 5/18 & 5/20 for 5:00-7:00p.m.

 Other Happenings in Brambleton:

Farmer’s Market is Returning Sunday May 2nd. More Information on Loudoun Farmer’s Market or on Twitter

Bambleton is partnering with Heritage Landscape Services and taking steps to reduce the amount of phosphorous-based fertilizers on all common areas.  So what does that mean for you??  The semi-organic turf fertilizer used in common areas will reduce the phosphorous into the bay and improve quality and hardiness of turf.  Stronger root system will aid in the health of your yard, community, and the Chesapeake Bay region.

The State of Virginia has recently passed a ban on phosphorous based fertilizers effective in 2011. 

Loudoun County has recently devoted time to this Act.  Please refer to Loudoun County government website.

“The Planning Commission will reconvene to discuss the subcommittee’s findings on April 19, at 6:00 p.m. The staff memorandum and attachments, including the draft Chesapeake Bay Preservation Ordinance, are available online:

Be the first to see this exciting new listing.  Call me today… 703-618-1218

 

I was sent this thought from someone, but cannot recall from whom.  I am sure they will not mind my sharing it.

How to plant a garden for success:

Plant 5 Rows of Peas                              Include 3 Rows of Squash

* Patience                                                      * Squash Negativity

* Perseverance                                             * Squash Procrastination

* Preparation                                                * Squash Apathy

* Planning

* Positiveness

 

Add 5 Rows of Lettuce:                         Complete Garden with Turnips

* Let us be Positive                                      * Turn up your Kindness

* Let us take Responsibility                        * Turn up your Smile

* Let us be in Control                                   * Turn up with New Ideas

* Let us Reward Accomplishments           * Turn up with Determination

* Let us be Empowered                               * Turn up with Love

I’d love the opportunity to help you with buying or selling your home.                                                 Call or text me any time: 703-618-1218

www.ThisSpotsForYou.com

Tanya Spotts

Tanya Spotts     

Director’s and President’s Club  2006-2008
This Spot’s For You!  ( http://ThisSpotsForYou.com )

 Long & Foster Realtors
508 E. Market St., Leesburg, VA 20176 

 Cell Phone: 703-618-1218

  Trying to get the message out there to buyers and seller, I thought this is newsworthy or blogworthy!! 

The Real Estate marketplace maybe one of the best in decades.  Opportunities are out there for buyers and sellers who are looking to move up. 

According to Jeff Detwiler, President and CEO at Long & Foster, Realtor, Inc. who has traveled to many of our offices and sharing this important information.  I thought I should pass on his information.  This positive signs are there, but like so many of my clients, FEAR gets in the way.  By the time the public begins believing what we have been telling them, they have missed the market.  Our inventory is at an all time LOW here in Loudoun County.  Demand is UP.  When demand outweighs supply, prices go up.  

Please consider these facts cited by Mr. Detwiler in his most recent email to us: 

NAR Housing Affordibility Index

The NAR Housing Affordability Index – What is It? 

      Essentially, the index is a measure of the financial ability of U.S. families to buy a house

      In the simplest terms, an index value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.  

      An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment. 

The NAR Housing Affordability Index – Trending Higher 

      The current index at the end of 2009 stood at 171.6 and you can see below that is 56 points above where it was at the end of 2007! 

      What this shows is that the relationship between home prices, mortgage interest rates and family income is very favorable right now.  

      The NAR has said that it is the most favorable since tracking began in 1970! 

The Impact of Mortgage Rates 

      While pricing is obviously important, mortgage rates drive a significant piece of the affordability puzzle.  The chart below shows the context of today’s low rates – It really tells a story and spells out the opportunity presented in the current market.   

30 Year Conventional Conforming Rates

      It’s important to keep in mind that for every increase of 100 basis points (or 1% in rate); the monthly payment goes up about $63 per month for each $100,000 borrowed.  Over the life of a 30-year loan, that can add up quickly – to $22,680 for each $100k borrowed.  

Eco Boomers and Houshold growth according to the Joint Center for Housing at Havard University is expected to increase more than 1.25 annually over the next decade.  Humans need shelter, the real estate industry is built to last! 

Call me, I am ready to help you buy or sell your home,  This Spot’s For You! 

  MRIS HOME SELLS COMPANY DATA-  Leesburg, VA 

Long & Foster Sales outshine others

 

MRIS HOME SELLS BY COMPANY -PURCELLVILLE , VA