BANK OWNED - SHORT SALE

Just Listed! Bank Owned House for Sale in Arlington, VA

2009-11-06T11:16:00.000-08:00

2021 WOODROW ST, ARLINGTON, VA 22207-2411
List Price: $580,000 -- 3 BR and 2 full BA

for more details visit http://www.saabrealtors.com/

Back to Active! Contract Canceled! Reduced! BANK OWNED in BRANDYWINE, MD

2009-11-06T08:31:00.001-08:00

5905 FLORAL PARK RD, BRANDYWINE, MD 20613-9171
$156,750 -- 7BR, 4.5 BA,
BANK OWNED! CASH ONLY. Huge house with lots of rooms, 2nd portion of the house can be rented out as a 3BR, 1.5BA and you keep the 4BR, 3BA with 2 master bedrooms. WAY BELOW MARKET VALUE!

for more details visit http://www.saabrealtors.com/

House votes to extend jobless benefits, expand home buyers' tax credit

2009-11-06T07:15:00.000-08:00

$24 billion bill intended to shore up economy and political support

By Neil Irwin, Dina ElBoghdady and Perry Bacon Jr.Washington Post Staff Writer Friday, November 6, 2009

Congress gave final approval Thursday for an additional $24 billion to help the jobless and support the housing market as climbing unemployment poses a growing liability for elected officials.
The bill, passed overwhelmingly by the House and headed to President Obama for his signature Friday, extends unemployment insurance benefits that were due to expire and renews an $8,000 tax credit for first-time home buyers, while also expanding it to cover many other home purchases.
The legislation represents an effort by Democrats to strengthen the anemic economy. The Senate passed the measure unanimously Wednesday, reflecting the unwillingness to be seen as opposing measures to stimulate growth even among Republicans who are skeptical of greater government spending.
Despite tentative signs of revival in the economy, unemployment continues to pose a challenge to incumbents. A report due from the Labor Department on Friday morning is expected to show another rise in the jobless rate in October -- possibly into double digits.
Congress and the Obama administration are casting about for policies of limited scale to help buttress the economy. Like the "Cash for Clunkers" program enacted this year to promote auto sales, the latest bill has broad popular support even though economists disagree about its value.
Economists generally support extending unemployment insurance. The bill would prolong benefits for at least 14 weeks for people out of work. The jobless in more than two dozen states where unemployment rates exceed 8.5 percent would receive to 20 additional weeks of benefits.
Because unemployed people tend to be strapped for cash, they often spend most if not all of the money they receive as benefits. This in turn tends to give a bigger boost to the wider economy than do many other forms of government spending...

JUST LISTED! BANK OWNED homes FOR SALE in VA and MD

2009-11-04T12:38:00.001-08:00

Bank Owned Townhouse for Sale in Leesburg, VA

Bank Owned House for Sale in Gaithersburg, MD

for more details and another REO listings visit http://www.saabrealtors.com/

The $8,000 Tax Credit For Buying A New Home has been expanded!

2009-10-29T11:05:00.000-07:00

FHA delays the release of disputed audit of its finances
By Dina ElBoghdady
Washington Post Staff Writer
Thursday, November 5, 2009
The Federal Housing Administration abruptly delayed the release of a long-awaited independent audit of the financial soundness of the agency, citing potential problems with the accuracy of some of the study's economic models.
The audit, compiled by Integrated Financial Engineering of Rockville, was scheduled to be released Wednesday, and the agency's top officials planned to brief reporters on its results.
But on Tuesday evening, the agency postponed the event, saying the report had yet to be finalized. In a separate statement Wednesday, FHA Commissioner David H. Stevens said the delay was related to economic scenario tests that the agency requested "above and beyond" what was originally to be included in the audit so that the FHA could "better understand a broader range of risk scenarios..."

Fed stands by rock-bottom interest rates for near future
RECOVERY VIEWED AS FRAGILE
Policymakers detail factors that could change view By Neil Irwin
Washington Post Staff Writer
Thursday, November 5, 2009
Federal Reserve leaders are sticking with their policy of very low interest rates for some time to come, they indicated Wednesday, but gave new details of the factors they will use to decide when to change course.
Fed policymakers, following a two-day meeting, said that "economic activity has continued to pick up." But they also said that conditions are "likely to remain weak for a time," and left their target interest rate at a range of zero to 0.25 percent, as was widely expected. They also said that low rates are likely to be warranted "for an extended period..."

Senate votes to renew tax credit for first-time home buyers
Provision for $8,000 refund part of bill to extend jobless aid>
By Dina ElBoghdady
Washington Post Staff Writer
Thursday, November 5, 2009
The Senate voted Wednesday to renew the government's $8,000 tax credit for first-time home buyers through the first six months of next year as part of a broader bill designed to extend unemployment benefits.
For the first time, the tax credit program would also enable many homeowners who buy a new primary residence to receive a $6,500 refund.
The measure was attached to a bill that would provide 20 weeks of unemployment benefits in more than two dozen states with jobless rates above 8.5 percent and up to 14 weeks elsewhere. Another provision in the bill would allow businesses that had operating losses in 2008 and 2009 to seek refunds for taxes paid on profits over the past five years.
The bill, which passed 98 to 0, should reach the House floor by Thursday, House Majority Leader Steny H. Hoyer (D-Md.) said in a statement. His office said the legislation would then go to the White House for the president's signature...

Deal struck to expand home-buyer tax credit
By Robert Schroeder, MarketWatch
October 29, 2009
WASHINGTON (MarketWatch) -- Senators have struck a deal to extend a popular tax credit for home buyers beyond those buying their first house, Senate Majority Leader Harry Reid's office said Wednesday. Legislators also have agreed to extend the tax credit through the end of April, according to a Reuters report.An $8,000 credit for first-time home buyers is set to expire at the end of November. Under a compromise reached by senators, the credit would be expanded to those who have lived in their home for five consecutive years, a Reid spokeswoman said. The credit for repeat buyers would be $6,500...

Extension of home buyers' credit has wide Senate support
By Dina El, Boghdady
Washington Post Staff WriterThursday
October 29, 2009The Senate has reached a broad bipartisan consensus on extending a lucrative tax credit for first-time home buyers beyond the Nov. 30 deadline and expanding it to include some current homeowners, according to the Senate's Democratic leader. Under the plan, people buying their first home would receive an $8,000 tax credit if they sign a contract by April 30 and close on it by June 30...

Watch this short video about How The Tax Credit Works and whether you qualify or not! Thinking of Buying A Home in Northern Virginia, take advantage of this opportunity NOW.

Bank Owned and Preforeclosures in VA-DC-MD

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The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

2009-10-16T13:32:00.000-07:00

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17. more... FORECLOSURE RESCUE

Pre-foreclosures and Foreclosures FOR SALE in Washington, D.C.!

2009-10-09T08:11:00.000-07:00

Close to Metro! $370,000 2BR and 1 BA	Back to Active! 6415 8TH ST NW, WASHINGTON, DC 20012 $262,000 3BR & 2BA
2204 U PL SE, WASHINGTON, DC 20020 $199,900 2 BR & 1.5 BA	925 BLAKNEY ST SE, WASHINGTON, DC 20032 -- 3BR and 25BA $189,900

For more information visit us on the web at http://www.saabrealtors.com/

SUBSCRIBE FOR OUR NEWSLETTER - VIEW OCTOBER ISSUE

2009-10-06T10:01:00.000-07:00

Subscribe for our monthly Realty Times Newsletter brought to you by George Saab, SAAB, REALTORS! View weekly Video-Newsletter
Read more in November issue:
"Vital Information for First-Time Buyers";
"Relieving the Stress of Packing";
"Making Your Home Age Appropriate Creates Appeal";
"Real Estate Investment Buying Tips";
"Extending Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery";
click here to view and subscribe

NEW!!! SAAB CHANNELS ON YOUTUBE!

2009-10-06T10:00:00.000-07:00

To view more videos visit our channels on YouTube at www.YouTube.com/SaabRealtors

Join "Our Foreclosure Rescue" Group on facebook!

2009-10-06T09:58:00.001-07:00

Are you worried About Foreclosure?Are you falling behind on your mortgage payments?Do you have a few mortgages and negative equity?Need to sell your home and WALK AWAY DEBT FREE? This group is created for people who are facing foreclosure as well as many of those who successfully avoided it. If you need valuable advise regarding your home ownership or you would like to give one... welcome to this group!As you know the housing market is in crisis. We cannot avoid hearing it on the news everyday. Foreclosure rates are skyrocketing, the federal government is spending billions, and house values are declining. In response to the crisis, my team and I have taken the steps to become the Washington D.C. Area's Short Sale Specialists. A short sale is a way for homeowners, maybe even your friends and neighbors, to sell their home for less than they owe.If you were forced to walk through one of two doors (a life changing experience) and one of them led you to foreclosure disaster and the other led you to foreclosure freedom... Wouldn't you like to know which door led to freedom? Unfortunately, there are thousands of people every month who are facing this exact situation. That's why we want to arm you with the knowledge to make the best decisions about your property. Once you know all of your options, you can make wise and informed decisions that will impact the rest of your life.Our goal is to put power back in your hands and getting you back in financial control. A brief phone conversation with us may actually be life-changing. We can provide references from others who benefited from our expertise in dealing with: Foreclosure, Bankruptcy, Relocation, Little or No Equity, and many other complicated real estate problems. Know the facts and understand your options.

FOR MORE ARTICLES VISIT OUR WEB SITE AT WWW.SAABREALTORS.COM

Location! Location! Location!

2009-10-06T09:51:00.000-07:00

Gorgeous Townhouse For Sale in Alexandria, VA

for more information visit www.SaabRealtors.com

The Case-Shiller Shows Home Prices Are Still On Their Way Up

2009-09-30T10:34:00.000-07:00

For the second month in a row, 18 of the 20 Case-Shiller real estate markets posted higher home values. It's the 6th consecutive strong showing for the benchmark private-sector housing index.

Combined with falling home supplies and rising sales figures, this month's Case-Shiller Index suggests that housing may have bottomed sometime earlier this year.

It's cause for optimism.

Even Case-Shiller respresentatives seem excited. In its press release, the publishers singled out the index's winning streak, commenting on the recent "stabilization in national real estate values".

But, in that statement, we see the Case-Shiller Index's biggest flaw. The index ipurports itself to be a national real estate metric but, in reality, there is no such thing as a national real estate market.

All real estate is local.

The Case-Shiller Index reports home values for 20 U.S. cities. Each of those cities, however, is comprised of smaller neighborhoods, each with its own character, desirability, and price points. Case-Shiller attempts to lump it all together -- an impossibility.

As an example, New York City posted a nearly 1 percent increase in July but that figure is just a city summary. The actual market in three distinct neighborhoods -- Upper East Side, Chelsea, and Flatbush -- vary tremendously. Not to mention Long Island, too.

Flaws aside, though, Case-Shiller is still important. It helps to identify broader trends in housing and housing may hold the key to our economic future.

With July's Case-Shiller Index, we see that the housing market's recovery is being sustained.

Existing Home Supply Falls By Nearly A Month

2009-09-29T12:59:00.001-07:00

As reported by the National Association of REALTORS®, the number of Existing Home Sales dipped last month, ending the metric's 5-month winning streak.

Newspaper headlines today are overwhelmingly negative on housing. You'd almost believe this year's housing recovery had ended.

That's hardly the case.

See, the other side of the Existing Home Sales story is that -- while the number of units sold did fall by 3 percent -- the existing supply fell by nearly an entire month.

To home buyers and home sellers, this is huge. Home prices are based on supply and demand and with supplies plummeting, it means that home prices are poised to rise.

Indeed, dwindling inventory isn't "news" to today's buyers. Multiple offer situations have been common since the start of the summer and, should supplies fall further, they may soon be the home-buying rule rather than the exception.

Since peaking in November 2008, existing home supplies are down 23%.

Fannie Mae Passes New, Tougher Mortgage Guidelines

2009-09-29T12:58:00.001-07:00

Getting approved for a mortgage is about to get harder.

For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines.

In its official announcement, Fannie Mae details the updates, meant to reduce the mortgage firm's overall risk.

The first major change is with respect to credit scoring. All Fannie Mae loans -- whether underwritten electronically or manually -- require a 620 credit score minimum. There are very few exceptions.

A second change relates to loans with private mortgage insurance. Homeowners whose loan-to-value exceeds 80 percent now have a choice:

Accept higher mortgage insurance premiums month-after-month
Accept a one-time fee paid at closing to compensate for higher risk

Both options pass higher costs to consumers.

Then, a third change relates to maximum debt-to-income ratio. As announced in a separate document, Fannie Mae will no longer approve expense ratios exceeding 45 percent except with very strong assets and credit to back it up. In no case can expense ratios exceed 50 percent.

There are other changes, too, including the elimination of seldom-used mortgage products and new risk-based pricing on "expanded level" approvals.

Fannie Mae implements its updates during the weekend of December 12.

Therefore, if you're going to need (or want) a new mortgage later this year, consider moving up your timeframe to October or November. Once the guidelines change, getting approved for a mortgage is going to be tougher.

Fairfax County Living - Burke Lake Park in Fairfax Station, VA

2009-07-06T13:03:00.000-07:00

Ranked #16 America's 100 Top Real Estate Professionals

2009-06-23T09:37:00.000-07:00

BREAKING NEWS

Dear visitor of Saab Realtors' Blog,

I'm pleased to announce that I made this year America's Top 100 Real Estate Professionals.
Please read the article posted on 06/04/2009 in following publications:

Wall Street Journal

Lore Magazine

Real Trends

Ranked #1 in the Washington D.C. Metropolitan Area: VA-MD-DC by Sun Gazette

click here

Community Events - Celebrate Fairfax 2009!

2009-06-23T09:30:00.000-07:00

Community Events - Memorial Day Parade 2009

2009-06-23T09:29:00.001-07:00