Potomac Falls and Lowes Island Real Estate Market Trends – Virginia

News for Potomac Falls and Lowes Island, VA - Monday March 29th, 2010 9:08pm

VITALS
Trump National Golf Club Washington DC
20391 Lowes Island Blvd
Potomac Falls, VA 20165
703-444-4801
official website


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First, some good news: the mercury's climbing to nearly 80 on Friday.

Which no doubt brings to mind cherry blossoms and opening day and sand wedges and birdie putts...

And, of course, Donald Trump.

Which brings us to the Trump National Golf Club Washington DC, now taking new members as The Donald puts his finishing touches on the joint.

Treat this—the former Lowes Island Club—as a 36-hole PGA destination in the making (that is, if the PGA kept steaks and scotch on hand). You'll start at a massive white clubhouse, passing under chandeliers that happened to be used for Ivanka's wedding and by paintings selected by Donald himself (so you know they're tasteful).

Your foursome will meet up with your caddies (some of whom have carried at Augusta National), who will come in especially handy after July 1. That's when Tom Fazio—the guy who "Tiger-proofed" Augusta—unveils his redesigned Championship Course, with triple the sand, fewer trees to keep your shots out of the Potomac and 14 new tees that push it to 7,700 yards.

When you've finally vanquished your foes, consider dropping by the cobblestone patio for steaks. But that's a mere way station en route to the members' poker room, where your bartender will pour your favorite whiskey and cut your cigar.

You always ace the 19th.
Note:
Trump National Golf Club Washington DC, now accepting new members, 703-444-4801, see the slidesho... [ + Read Full Article ]

FHA LOANS BIG CHANGES ACT NOW!!!! - Monday March 22nd, 2010 6:51pm
FHA Commissioner David Stevens says Changes are coming to the FHA as early as April 15. Hear what he has to say. Keep in mind the FHA is currently serving one third of the mortgage market.

Raising Up Front Premiums for borrowers to 2.25%

Slashing Seller Concessions form 6% to 3%

Increase Down Payments on FICO Scores of 580 or less

Try to raise the annual premium, however this would need the support of Congress.

FICO changes alone could take about 6% of FHA borrowers out of eligibility. However David Stevens states that this 6% equates to 31% of delinquency rates. So we are taking out borrowers that are the least sustainable.

FICO SCORES

580 + 3.5% Down Payment

500 — 579 10% Down Payment

Below 500 Ineligible

Half of FHA borrowers in 2009 were First Time Home Buyers. This was alot to do with the First Time Home Buyer Tax Credit. This is of course expected to expire at the end of April. 9.2% of FHA Loans are now 90+ Days Delinquent. However, keep in mind that FHA Loans are up 31% from January 2010.

The FHA also suspended anti flipping rules. This in an effort to get investors into the market. Investors can get an FHA loan and hold on to the property for 90 days and then sell it.

David Stevens believes that we are seeing signs of recovery in the Housing Market.

Time is of the essence if you are thinking of buying run quickly to the phone and call me BIG CHANGES AHEAD

Natalie Bryant
703-568-1731
... [ + Read Full Article ]