What’s cheaper, renting or buying a home in the Loudoun and Fairfax County area? This is a common question asked by many prospective homebuyers. The answer to the question really depends a lot on the buyers( or your) goals. Recently, Tulia rated the Washington DC area as a 12 on a sale of 1-35 as being cheaper to buy then to rent. Another similar report by Inman news recent reported that in 74% of cities nationwide buying is cheaper then renting. Washington DC area was one of the … [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...]
Why Buy Title Insurance When Buying Your Next Home
October 7, 2010 By 2 Comments
Did you buy your last home without Title Insurance? Many homeowners think to themselves, “great another junk fee” when faced with the line item for Title Insurance at closing. After all, Title insurance can sometimes add several hundred or even thousand dollars to the bottom-line of a settlement. My clients almost without exception ask me at closing if they should buy this sometimes expense policy. After all, what are the chances that an American Indian tribe, or a long lost relative, or … [Read more...]
FHA Refinance of Borrowers in Negative Equity Positions
August 17, 2010 By Leave a Comment
Here it is at last, your chance to refinance your underwater mortgage. The long-awaited FHA rules that will allow homeowners that are underwater to refinance their homes. If your house is underwater and your interest rate is above 6 percent, you should definitely consider this refinance opportunity when it becomes available. Even if you have a good interest rate, the write-down of your first and/or second mortgage may make this deal worth considering. You must be current on your mortgage … [Read more...]
How to Buy a Foreclosure or Short Sale in Fairfax and Loudoun County
July 21, 2010 By 1 Comment
Research- This begins way before there is a sign on the lawn. In most cases savvy investors begin prospecting for foreclosures and short sales in the public announcements section of their local paper. Do a drive by of any houses that are in default. See if the property is vacant as well as the condition of the outside. ***Hint here** If it looks rough on the outside you can beat it’s going to be rough on the inside. Go to the courthouse steps and see if the bank had to buy back the mortgage … [Read more...]
Chuck Rifae Associate Broker PenFed Realty Group 571-207-6390 Entrepreneur, Real Estate Broker, Avid runner, and soccer dad! 
