Let's face it, things in and around the house need repair or replacement from time and if you already have a trusted service technician, you're ahead of the game. As your Realtor, I have many recommended technicians and service companies because of some personal experience and experience from my clients. Feel free to call me when a need arises.
Today I would like to highlight the services of my tree service of choice is Adam's Tree Service out of Culpepper. Just call Adam on his cell phone: 540-229-5411 and let him know that your Realtor, David Houghtaling of Reston gave you his number.
PS If you have a person or company you've hired that you would recommend, just let me know.
Here's something you may not have been considering. Renter incomes are rising making it possible for landlords and complexes to charge higher rental rates.
In Reston alone we have had a few open upscale rental complexes open in the past couple of years and there are a few more under construction. The Harrison, followed by the Boulevard the Avant and now the Aperture. Even as a Realtor I have scratched my head wondering where all of the relatively well to do tenants are going to come from.
Rental apartments are being constructed with high ceilings in the units, upscale designs and apartment amenities and amenities for the building including specialized services and common rooms, rooftop pools, etc. It's not uncommon for the 1 bedroom units to be over $2,000 and 2 bedrooms closer to $3,000. Premiums are charged for top floors and their views.
Millenials perhaps, but there are a lot of professionals moving into these apartments for the lifestyle flexibility. Renters can live without many home responsibilities and they enjoy the flexibility of picking up and moving.
Click for the Bloomberg Article
This does not mean doom and gloom for your Reston investment properties and their rents. Not all renters want an apartment house, no matter how lovely. They don't all want a parking space below a building and an elevator to schlep their stuff. You will still be able to rent your 1980's townhouse, 1990's condo and everything in between. Renters will continue to expect upgrades and updates, fresh paint and prefer things like hardwoods and perhaps granite, but they are paying you more in 2017 than they did in the past.
There is a table below from Bloomberg from the article that shows a portion of the population that is rent-burdened or severely so. Worth consideration.
Do you have real estate investments? Thinking of buying additional properties and renting them? Please call me at 703-220-0406
LINCOLN, R.I. - Proper chimney maintenance can help prevent fires in the home. That’s why Amica Insurance is sharing tips to promote chimney safety as the cold weather approaches.
The Chimney Safety Institute of America suggests the following:
In the 2005 time period the lenders allowed for very low down payments AND they didn't screen potential borrowers thoroughly for risk. The lending business had to tighten up, and did, for several years.
Relatively recently lenders have made it possible for borrowers to make smaller down payments and that can be good. The 20% down payment is not completely a thing of the past, but the average loan last year involved a 6% down payment according to the National Association of Realtors (NAR).
Private Mortgage Insurance charges on the buyer are understandably higher for folks that put less skin in the game leaving the lender with a great risk. A low down payment in an increasing market means your of return on your investment (percentage) is higher because you have leveraged your down payment cash.
For someone interested in doing the math, it's possible to make a lower down payment, pay some PMI, but have the appreciation amount each year be more than your PMI expense.
Today we have FHA, VA, USDA, VHDA, HomeReady and, Home Possible Advantage plus Conventional loans with down payments as low as 3%. Since I am going to help introduce you to a great lender or two, he/she will help you review your choices.
If you would like to read an article on this an more CLICK
And feel free to reach out to me anytime!
The National Association of Realtors, published a study of those 22-35 years old and their challenges to home buying. CLICKThe group is pointed out because generally during this period more people typically buy their first home, perhaps marry and start families, and due to some things beyond your control, you haven't been able to ... yet. One major budget item is the burden of education debt measured against early salary levels, but both will improve.
According to Dr. Lawrence Yun (chief economist for the NAR), when I heard him speak on September 18th, student debt has TRIPLED in the past 10 years!For most people their home gives roots, an ability to begin building wealth by putting income to work, and at the same time not the only home you will ever own. But a start. If I can be of help to you as you dream and plan, just reach out to me 703-220-0406 or David@BuyOrSellTime.com
Are you aware that in Fairfax County you are NOT legally allowed to rent out rooms in your home on a short-term basis? True. Click This may not be something you have thought about, but if you are thinking about renting 1-5 rooms in your home for less than 30 days at a time, you need to apply for a "Bed and Breakfast" license and the Board of Supervisors makes that determination.Many, if not most, HOAs and Condo Associations have restrictions as well. Fairfax County is holding public hearings if you are interested in the subject, pro or con.