Kevin & Debra Hagan

Does This Sound Familiar?

Kevin & Debra Hagan — Wed, 25 Aug 2010 21:42:00 GMT

The recent Fannie Mae National Housing Survey for 2010 asked what are the TOP REASONS FOR BUYING A HOME? Consumers provided the following insight...

80% - You have a good place to raise and educate children.

79% - You have a place where you and your family feel safe.

71% - You have control over your own living space.

We think these have always been the best reasons for buying a home, and they are good reasons in any economy. It is interesting that the top reasons don't have anything to do with the "investment potential" of your home.

Let us know what you think...

Five Smart Reasons to Buy a Home Now!

Kevin & Debra Hagan — Fri, 30 Jul 2010 22:04:00 GMT

RISMEDIA, July 30, 2010--The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever.

ForSaleByOwner.com presents five overlooked reasons why now is a great time to buy a house.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines...again. Now that appraisers have more flexibility to set values that reflect the current market, today's deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

Language of the new real estate reality...

Kevin & Debra Hagan — Mon, 28 Dec 2009 21:15:00 GMT

It is difficult to go through a daily dose of bad economic news without seeing or hearing the endless barrage of terms that journalists, reporters, politicians, and pundits alike sprinkle about in an effort to help all of us to truly appreciate the gravity of our plight. Many of the terms are in actuality very specific when describing the condition of real estate. What we often find is that many of us are not completely sure what they are talking about. We will attempt to provide some basic definitions of a few of the terms that may cause some confusion.

FORECLOSURE: A foreclosure is the legal process by which a bank, mortgage company, or other party who has a financial interest in a property can take possession, and sell the property toward repayment of a debt. Typically, a foreclosure sale of real estate is posted for notice in the local newspapers, and then takes place at the local court house.

REO (Real Estate Owned): REO is the term used to describe the ownership interest of the property after the bank or mortgage company has taken possession of the property. Many financial institutions have a REO, ASSET, or INVENTORY department which is then in charge of selling the properties in order to mitigate or reduce the institutions loss. Many times, these REO properties are listed for sale with local real estate brokers.

SHORT SALE: These are the myriad of properties that fall somewhere between the normal sale of a property from a seller to a buyer, and the FORECLOSURE/REO process. A "SHORT SALE" occurs when the seller seeks some form of cooperation or forgiveness from the bank or mortgage company when the sales value of the property is going to fall below the value of the amount owed to the lender. The seller typically does not have the financial resources to make up the difference. This is often referred to as being UPSIDE DOWN on their mortgage.

If you would like additional information about the OPPORTUNITIES & OBSTACLES of the current real estate market in Northern Virginia, Prince William County, or Fairfax County, please do not hesitate to contact Kevin & Debra Hagan at 703-367-0546.

DEBRA HAGAN BECOMES A CDRS CERTIFIED MEMBER, OFFERING ASSISTANCE TO HOMEOWNERS WHO MAY BE FACING FORECLOSURE!

Kevin & Debra Hagan — Mon, 28 Dec 2009 21:11:00 GMT

With foreclosures on the rise, it is imperative that homeowners who may have fallen behind on their payments know where to turn to find out more about what options might be available for them to consider. America's Home Rescue announces that Debra Hagan of Long & Foster, Realtors has earned the distinction of being an exclusive member of the Certified Default Resolution Specialist (CDRS) Program, a powerful national network of licensed real estate professionals equipped with the knowledge and skills necessary to better educate homeowners about their options and be a resource in helping them avoid the devastation of foreclosure. Debra is experienced and prepared to offer this highly specialized assistance to homeowners throughout Northern Virginia, Prince William County, and Fairfax County.