100% VA Lending

September 5, 2008

Finally, some great news regarding lending.  Especially if you have served in the Armed Forces.  The Veterans Administration has increased the amount on 100% financing loans.  VA loan buyers in the DC/Northern Virginia area can now obtain 100% financing on homes selling for $729,750 or less!  

For prices above $729,750, Veterans would need to pay 25% of the amount which exceeds $729,750.  This is great for Veterans!  But, try not to ‘hurry up and wait.’  The 100% lending amount will decrease to $625,000 in 2009.

By the way, I know of some great places near Ft. Belvoir if you happen to be involved in ‘base-realignments.’

  • Kevin Battle
  • 703-915-1392
  • Battle Real Estate
  • 211 North Union Street
  • Suite 100
  • Alexandria, VA  22314
  • www.battlesales.com

Alexandria Home Ownership Assistance

July 14, 2008

We get calls all the time from folks asking ‘How can I get lending to buy a home?’  It doesn’t take a rocket scientist to see that getting approved to buy a home is NOT as easy as it used to be. 

 

Even if you are a great, all-around-person with a good smile, nice teeth, perfect credit and 10% down - you are rolling the dice (next time mention that you are an impeccable dresser, too.)

 

A few obvious tips are:  Pay off a few bills, eat beans & weenies instead of hitting the local watering hole every night of the week.  Pay yourself that extra money you’ve saved.  In a year you’ll have a nice downpayment. 

 

For those of you that have lived within your means and are still a bit shy of the lending guidelines, Alexandria is the place for you.  The City of Alexandria has just secured $15.2 Million for first time buyers.  Call soon if you are serious – $15 Million ain’t what it used to be.

 

The new funding will be used in conjunction with the City’s Homeownership Assistance Program (HAP) and Moderate Income Homeownership Program (MIHP). The HAP Program assists lower-income households with annual incomes of up to $61,500 for a family of four, while the MIHP Program assists households with incomes of up to $99,000 for 3 or more family members. 

 

“The reduced-interest financing provided by VHDA is a perfect complement to the City’s own homebuyer assistance efforts,” said Alexandria Mayor William D. Euille. “The City has a long history of helping first-time homebuyers and we are dedicated to making homeownership both achievable and affordable for low- and moderate-income City residents and workers.” 

To be eligible to participate in the City’s homeownership programs, individuals must be first-time homebuyers, and the home to be purchased must be located within the City of Alexandria. Funds are limited, so interested individuals are encouraged to inquire immediately and to register for a mandatory, free homeownership training offered through the City’s Office of Housing. For more information, call the City of Alexandria’s Office of Housing at 703.8384622 or TDD: 703.838.5056.

Good luck.  And, don’t be a stranger if you need any help finding some great listings.

Kevin Battle
Battle Real Estate
211 North Union St. Suite 100
Alexandria, VA 22314
703-915-1392
www.battlesales.com

Alexandria Rain Barrel Workshop

June 25, 2008

Sometimes we get soooo wrapped up in our busy lives here in the DC area that we sometimes forget good, old-fashioned common sense.  Or, maybe, common sense just doesn’t fit in with our HOA requirements or fashions.

Take ‘rain barrels’ for instance.  My Grandmom had them on her house and her barn.  Rain barrels were essential in keeping her large gardens and flower beds green all summer.  In fact, she fed 5 kids from her gardens.  She was nearly self-sufficient on her farm.  Gram was rain barrel before rain barrel was cool.  Gram was compost pile before compost was cool.  Gram was ‘conservation’ and ‘solar’ and ‘hormone -free meat’ and ‘free-range chicken’ and, well, you get the point.  Gram would think we were all phonies.   She’d probably be right.  

But, every once in a while, we re-educate ourselves.  July 12 is a great example of why folks like Gram were so smart.

The City of Alexandria, in partnership with other regional organizations, invites residents to attend a “Build Your Own Rain Barrel” workshop on Saturday, July 12 from 9:30 a.m. to 11:30 a.m. at the Francis C. Hammond Middle School, 4646 Seminary Drive.

Rain barrels can be placed under your downspouts to capture runoff from the roof. The rainwater you collect can help you save water for use in your yard and house plants, eliminate potential flooding in your basement, and reduce stormwater management costs. The use of rain barrels also helps to decrease the volume of storm runoff, which in turn, helps to moderate stream erosion and the resulting pollution that is impairing the Chesapeake Bay. 

Registration for this workshop is required.  Please visit www.arlingtonenvironment.org/barrel.htm to register online. To register by mail, send your name, phone number, e-mail address, and date of the workshop, along with a check made payable to Rain Barrel Program, Northern Virginia Soil & Water Conservation District (NVSWCD), 12055 Government Center Parkway, Suite 905, Fairfax, VA 22035. The cost for a build-your-own-barrel is $52 for guaranteed registration with PayPal/credit card payment (includes a $2 processing fee).  If you prefer to send a check, the cost is $50, but be aware that your spot at the workshop will not be confirmed until payment is received. Ready-made barrels are also available for a slightly higher cost.

The workshop is sponsored by the Northern Virginia Rain Barrel Program. For more information about the Rain Barrel Workshops, please contact Jesse Maines, Office of Environmental Quality, Department of Transportation and Environmental Services, at 703.519.3400, ext. 166.

The funny thing is:  it’s so simple and so ‘common-sense’ that we forgot about it.  Most stopped doing ‘rain barrels’ because they were so ‘rural’ or because automatic lawn sprinklers were more convenient than actually getting out the water bucket.

I don’t know who will eventually take credit for the new, urban trend of rain barrels.  But, we know who deserves it.  Everything we really ever needed to know we could have learned from our grandparents – had we only listened.  In a small way, Grams everywhere are still making their impacts.

Have a great day.

Kevin Battle

Battle Real Estate

211 North Union Street, Suite 100

Alexandria, VA  22314

www.battlesales.com

Springfield Mall

June 12, 2008

So, when people ask: ‘where do you live?’  Do you answer ‘Kingstowne’ even though you really live closer to Springfield Mall or Metro?  I know, sometimes it’s just less painful.

Well, fear the pain no more.  Springfield Mall will soon be a destination that you’ll not only be proud to tell people you live by – but, one you’ll also actually want to shop at!  Imagine that. 

Springfield ‘Mall’ will be no more.  Over 50% of the stores are closed now.  Approval for renovations will probably start in the Fall.  Construction/demolition/renovations will start in either 2009 or 2010.  The entire project will be broken into 3 segments and take 20 years to complete but a lot of changes will take place quickly.

And, most importantly, you won’t be forced to sheepishly tell anyone you live near Springfield Mall.  You’ll proudly proclaim that you live near ‘Springfield Town Center.’  An entirely new Springfield will transform right in front of our eyes.  Complete with office, food and retail space, pedestrian walkways, parks, cafes, shops and homes.  Imagine farmers markets and concerts right in our own backyard.  Even more unbelievable:  Imagine ‘green’ space at SPRINGFIELD MALL!!!  A truly mixed-use community will evolve between the Franconia/Springfield Parkway/Metro area all the way past Commerce Street and from Spring Mall Drive to the other side of Backlick.

Some say that it will be similar but larger than the ‘new’ Shirlington area – which is awesome.

In the future you can log on to www.springfieldtowncenter.com to see updates.  That site is currently not functional.  You can also access any economic planning sites from www.battlesales.com – just go to our ‘communities’ page.

The mall is dead.  Long live THE mall.

Kevin Battle

Battle Real Estate, LLC

211 North Union St. Suite 100

Alexandria, VA  22314

Mold and The Mutt

June 5, 2008

We’ve seen our fair share of rain in Northern Virginia so far this year.  Now, add the heat.  Factor in some of the ‘closed-up,’ vacant or bank-owned properties and Realtors and clients will probably run into musty, moldy situations while finding that perfect home. 

 

Some homebuyers must have that ‘pristine, move-in condition, don’t even have to lift a finger to paint’ home.  Others are a little more flexible.  I spent last week with a client visiting many available properties in the Parkfairfax/Shirlington area.  We came across what, on paper, seemed like the perfect opportunity for this first-time homebuyer.  Priced well below market, convenient location, spacious, secure/safe building, 2 parking spots, yadda-yadda-yadda.  It was also a bank-owned, vacant property.

 

The last occupants left in a hurry.  The place was very dirty.  I can look past dirt.  A good scrubbing only takes a few hours.  I often recommend that one cleans the place, then hires a cleaning crew, then cleans again prior to moving in.  Three good cleanings, plus new carpets and toilet seats oughtta do it, right?

 

This place I’m speaking of was a bit more involved, though.  It had a ‘musty’ or ‘damp’ smell.  Mold.  Keep in mind, the place was sealed up with little traffic for 146 days.  The carpets were filthy, kitchen cabinets and bathroom vanities were broken.  Unfortunately, it was treated by the previous owners as a disposable home.  Remember: Great location, priced to sell. 

 

Our client immediately said ‘no way.’  But, like a wreck in which you put your hands to the face only to glance through you fingers at the pending doom, they continued through the home.  And, eventually realized they liked it.  Loved it.  It was currently ‘ugly.’  But, like a mangy mutt, a quick wash and trim reveal a nice dog.  Dog being the operative word. 

 

An inspection of a few key areas revealed that the mold was most likely just a few billion spores of simple surface mold.  Around the toilet (just like college).  Nothing Clorox and elbow grease can’t take care of.  Mold is something to take seriously…but, be rational.  Remember, mold spores are EVERYWHERE.  And, in damp conditions without ventilation they grow everywhere.  It can be remedied without calling HAZMAT. 

 

The kitchen will be ripped out, the bathrooms will be redone and the carpets will be removed & replaced.  This mangy mutt will be cleaned three (four?) times before it is called home.

 

Our client is getting a great deal.  And, after all is said and done they’ll still be in below the market. 

 

Have a great day.

 

Kevin Battle

Battle Real Estate

211 North Union St.

Suite 100

Alexandria, VA  22314

Alexandria Tree Sale

April 25, 2008

Well, another Earth Day has come and gone.  What?  You say you missed it?  Yeah, Tuesdays are usually bad days for National holidays unless you are given the day off and it ends with fireworks.  But, then again, it’s probably a good thing that Earth Day isn’t over-commercialized.  I mean a ‘little’ commercialization may be good just to let us know it’s here.  Well, if done in taste, of course – the way the City of Alexandria is doing it.  Alexandria is ‘taking a mulligan’ on this year’s Earth Day festivities by re-playing them on Saturday (selling out to a broader audience, no doubt.)  So, in case you missed it on Tuesday – make a better effort tomorrow (April 26, 2008) by buying and planting a tree from the city.  All the info follows:

Saturday, April 26 – Alexandria’s Urban Forestry Steering Committee to Hold Third Annual Alexandria Earth Day Tree Sale

Alexandria’s Urban Forestry Steering Committee and the Department of Recreation, Parks and Cultural Activities will hold a City tree sale from 8 a.m. to 1 p.m. at Ben Brenman Park, 4800 Brenman Park Dr. Tree stewards will be available at the sale to provide consultation on tree choice and care. Shade and ornamental trees will be available for $30, and evergreen trees will be available for $40. If 10 or more trees are purchased and they will be planted on one site, assistance with planting can be requested (for an additional fee). To reserve a tree, call Jerry Dieruf, Arborist, at 703.838.4999, ext. 451

 

Happy Earth Day…a few days late.  Now, wouldn’t it be great if we didn’t ‘need’ to highlight just one day as the day we should clean up or take care of our planet?  You know, the way we make our ‘significant other’ know every day is Valentine’s day?  OK, bad example.  Keep that one on the calendar. 

 

Maybe our Earth Day resolution we should be to make every day its own special ‘earth appreciation day.’ 

 

Have a great (earth) day.

 

Kevin Battle

Battle Real Estate

211 North Union St. Suite 100

Alexandria, VA  22314

 

 

Spring Break

March 30, 2008

Well, after driving around previewing homes all week, it looks as though ‘Cabin Fever’ has finally broke. Everyone is sprucing up their homes – even the Fraternity near Gearoge Washington U. was cleaning up yesterday, albeit for different reasons than the average homeowner. The intentions were still the same. Here’s some tips for cleaning:

1. Don’t just open the drapes – actually clean the windows. Take a damp cloth and rub a winter’s worth of dust from the window sill. Also, take some towels and Windex and clean the inside and outside of the windows. If you don’t want to use Windex then add one part of white vinegar to 8 parts water mix in a drop or two of dishwashing liquid and whip away the dirt.

2. Cleaning products smell great. But, the smell doesn’t last too long. Keep things smelling fresh by spraying perfume on cool light bulbs. This way, when the light is turned on it gives off a nice aromatic scent. You can also soak cotton balls in vanilla. Then hide the balls in the fridge or under the fridge.

And, speaking of ‘under the fridge’…that mysterious place where pennies, pick-up-stix, and bad report cards go to die… Think about actually cleaning ‘under’ the fridge. Mop it up and clean the drip pan. Don’t be afraid to hide a few cotton balls or an airfreshener or a clipping from the pine tree under there, as well.

3. Now that you are done with the fridge, don’t forget to wipe off the top of the ceiling fans, behind the toilets, air vents/ducts, and under the couches. ESPECIALLY if you are thinking of selling or renting soon.

Remember that it is a tough market. Make your home shine – literally.

4. Start the shine BEFORE folks enter the home. Make sure you clean up from under the bushes & shrubs out front, sweep off (or power wash) the deck or patio, plant a few new flowers, and put down new mulch.

5. Don’t forget to polish the doorknobs and repaint the foyer. I say repaint and not ‘spotclean’. ‘Spotclean’ means you’ll have a clean spot surrounded by a dirty wall. Take the extra 20 minutes and put a fresh coat of paint in the foyer and/ stairwell.

Oh, and before you start cleaning, change the bag in your vacuum or else all your scented efforts will be covered up by the smell dust/dirt/dog hair gone by.

Enjoy. And, if you have extra time, stop over at my house. The rake is in the shed. Thanks.

Kevin & Shawn Battle
Battle Real Estate
211 North Union St.
Suite 100
Alexandria, VA 22314

Off To Neverland

February 29, 2008

There are all kinds of foreclosed properties on the market. And, no matter if you are rich, poor, famous or infamous, most foreclosures end the same – On the courthouse steps. One foreclosure is capturing world wide attention. Neverland Ranch looks as though it will go up on the auction block. Yep, all 2800 acres of Michael Jackson’s property (including amusement park rides) can be yours if you get to the steps of the Santa Barbara county courthouse on March 19.

In the end, his $153,910 monthly payment is no different than your $1,539 payment. The former King of Pop is 3 months in arrears on his mortgage. There is a glimmer of hope for Mike. As in all foreclosures, he can still save his home, credit, and reputation by simply coming up with the money he owes his lender – all $24.5 Million of it. You see, when he went into default, Fortress Investments gave him a 90 day grace period to rectify his problems. He didn’t or couldn’t and Fortress Investments called in the debt.

Michael Jackson, for all his fame and fortune, is no different than you and me when it comes to skipping mortgage payments. His life is just on a larger scale.

Two things can happen. Either Michael comes up with all the money owed and he keeps his house or someone like you will come up with the money and walk off the steps and into Neverland.

In either case, Michael Jackson’s debt will be cleared. He will no longer be liable for the balance. Just the taxes. All $5 Million.

In the end, Michael Jackson will finally be treated as an average American.

Have a good day.

Kevin Battle

Existing Home Sales Fall…Again

February 25, 2008

The National Association of Realtors announced that sales of existing homes were down again last month BUT not as low as in previous months. Sort of like being ‘the smartest kid in the dumb row’ or as NAR chief economist Lawrence Yun puts it, ‘Soft but stable.’ Everyone knows that it is a tough market out there. Tougher in some regions of the country than others. Our region (the South) is only down ½%. There is a glut of existing homes on the market and prices are dropping. This is mainly due to foreclosures. Expect more in March. But, the bad news doesn’t affect everyone. Shawn & I are optimists. It’s a great market to BUY. And, with more homes coming on the market – prices should continue to come down in many areas (but not all.)

One of the problems many have with this ‘buyer’s market’ is the fact that most of us have no cash to take action.

Take the next few months to get yourself into a better ‘buy’ position. Pay down your credit cards, pay your bills on time, make sure old or bad info is cleared from your credit reports. Also, try to save money. If you can’t do that then just don’t spend as much as usual.

And, if you are one of those that find yourself in dire straights? Don’t avoid your lender. Get on the phone to them and communicate. Work out a solution. You can learn more about how to help your credit on our website at: http://www.battlesales.com/neighborhood_details.php?nID=5657

Have a great day – and, GOOD LUCK!

Mom’s Valuable Lesson

February 19, 2008

Remember when you’d cry ‘Mom, Mike didn’t eat his peas!’ and Mom would reply, ‘Mind your own plate.’

Well, if you are one of those who learned a lesson at the dinner table – Welcome to the feast! The subprime meltdown & credit crisis may not concern you – despite what the media says. You may be able to whistle (quietly) past the graveyard. I know you hear the media reports of how horrible the real estate market is. But, think about it. If you were one of those that learned to ‘mind your own plate’ and were able to live within strict means, paying off credit card balances each month, and never tried to “keep up with the Jones’” Good for you. Especially, because the Jones’ may lose their house. The real estate market may be great for you! Now is the time to buy real estate. Prices in the Alexandria/DC/N. VA area are getting closer to the bottoms. How close you ask? Well, mind your own plate.

Let’s just say that you can afford much more house today than you could last year. The house that you fell in love with but was too expensive last year may be priced just right today. Interest rates are falling – A 30-year fixed rate hovers around 5.4%. Most folks worry about down payments. Well, if you have a FICO score of 680 or above, many lenders will let you by (and buy) with 3% down in non-declining markets.

Take the reward you’ve earned for living within your means. Find the home of your dreams.

We’ll be glad to help you.

Kevin & Shawn Battle


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