"The economy is in a free fall"; "people are losing their houses by the bushel"; "unemployment is at record highs etc, etc, etc". You would think with these types of headlines there would be foreclosed homes on every block! Right??? Not if you are looking for foreclosures in the Northern Virginia area more specifically in the Loudoun and Fairfax county areas. If you are lucky enough to find a foreclosed home don’t be surprised to see multiple offers all above asking price. So, if … [Read more...]
Secrets To Buying A Short Sale
February 20, 2011 By Leave a Comment
With 1 in 3 homes being sold as a distressed property understanding how theses distressed properties are sold and marketed will put you head and shoulders above the pack. After all, what red blooded American doesn't love a GREAT DEAL! In this blog, I have covered 5 quick ways to help ensure your success in buying a Short Sale in the Northern Va Real Estate market. Know your market: It’s really easy to buy into the hype that all short sales are being given away. Actually Short Sales are … [Read more...]
Top Real Estate Scams
January 29, 2011 By Leave a Comment
Having worked in the Real Estate business for almost 10 years I’ve had a chance to hear some really wacky Real Estate claims. Some of these claims are made by unscrupulous individuals who are not licensed Realtors or lenders(for good reason). Most of the scams target unsuspecting individuals on late night infomercials promising fast cash and a track to riches for only 3 payments of $45! Over the last 5 years with the tanking of the Real Estate market various scams have exploded on to the … [Read more...]
4 Things You Must Know About The New FHA Lending Guidelines
November 19, 2010 By 1 Comment
FHA lending guidelines are changing again! For the most part the new guidelines reflect the escalating cost of lending money and the ever-increasing role of the Federal Government in the housing market. So, what do you need to know if you are thinking of buying a house? Here are my top 4 take aways: Credit Score: This was no really surprise. FHA has raised the minimum FICO score to 580 if you plan on only putting down 3.5 %. Anything under 580 and you’ll have to put down 10%. Two of the … [Read more...]
5 Things You Must Know Before You Get A Reverse Mortgage!
October 22, 2010 By Leave a Comment
In early 2000 I started hearing stories about this great loan program that allows you to borrow your homes equity without ever having to pay back the money you borrowed. Sounds too good to be true… yep it didn’t pass my smell test either. The program is called a Reverse Mortgage and lenders are lining up spokesmen by the dozen to sell it. Before you run out and start calling your a lender for one of these loans here are 5 things you should consider first: 1. Compound Interest: Have you … [Read more...]
Chuck Rifae Associate Broker PenFed Realty Group 571-207-6390 Entrepreneur, Real Estate Broker, Avid runner, and soccer dad! 
