• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

Virginia students struggle on new math tests

image_thumb1As most Virginia educators had predicted, students across the state struggled with new math tests featuring more challenging content, according to results released this morning from the Virginia Department of Education

The data shows students’ performance during the 2011-12 school year on Standards of Learning tests in various subjects, including math. On the math tests, students adjusted to higher expectations and an emphasis on technology.

On the low end, 58 percent of students statewide passed grade seven math tests. Algebra I performance came out on top, with 75 percent of students passing across the state.

The Board of Education revised and strengthened Virginia’s mathematics standards in 2009 to ensure that Virginia public school students are prepared for the challenges of the first year of college or meaningful entry-level employment when they graduate from high school. Last year’s SOL mathematics tests were the first to reflect the increased rigor of the new standards.

The online mathematics SOL tests taken by most students included new technology-enhanced items designed to mirror common classroom experiences. The items also require students to apply mathematical knowledge in solving multistep problems. Technology-enhanced items made up about 15 percent of each online middle and high school test.

Continue reading

Va Beach Whole Foods to open in October 2012

Whole Foods Market but residents of Va Beach will be able to shop at their new Whole Foods earlier than expected. The  Virginia Beach store is now set to open on October 24th at 10 a.m, several months ahead of initial expectationsWhile Williamsburg VA still has no Whole Foods Market but residents of Va Beach will be able to shop at their new Whole Foods earlier than expected. The  Virginia Beach store is now set to open on October 24th at 10 a.m, several months ahead of initial expectations.

This is  the first Hampton Roads location for the popular grocer, known for its selection of specialty goods and organic and health products.

The closest Whole Foods store to Williamsburg at this time is in Richmond, in the Short Pump Area.

On opening day, the Va Beach  Whole Foods plans to provide free tastings, live music and cooking demonstrations, the company confirmed Thursday in a news release. The 40,000-square-foot store at 1800 Laskin Road will operate daily from 8 a.m. to 9 p.m

Top Ten Things You Need to Know About the 3.8% Tax

imageIn case you’ve heard rumors or received worrisome emails about any of this, here’s a quick primer. Yes, there is a new 3.8 percent surtax that takes effect Jan. 1 on certain investment income of upper income individuals — including some of their real estate transactions. But it’s not a transfer tax and not likely to affect the vast majority of homeowners who sell their primary residences next year. In fact, unless you have an adjusted gross income of more than $200,000 as a single-filing taxpayer, or $250,000 for couples filing jointly ($125,000 if you’re married filing singly), you probably won’t be touched by the surtax at all.

The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll NEVER pay this tax at the time that you purchase a home or other investment

You’ll NEVER pay this tax at settlement when you sell your home or investment property.  Any capital gain you realize at settlement is just one component of that year’s gross income.

Top Ten Things You Need to Know About the 3.8% Tax

  1. When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax.
  2. The 3.8% tax will never be collected as a transfer tax on real estate of any type, so you’ll never pay this tax at the time that you purchase a home or other investment property.
  3. You’ll never pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
  4. If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will not pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.
  5. The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).
  6. The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.
  7. In any particular year, if you have no income from capital gains, rents, interest or dividends, you’ll never pay this tax, even if you have millions of dollars of other types of income.
  8. The formula that determines the amount of 3.8% tax due will always protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would never be imposed on more than $1,000.
  9. It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. But: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.
  10. The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.

Back-to-school Sales Tax Holiday in Virginia

If you’re among the thousands of Virginia parents preparing to send their children back to school, it’s time to start getting your shopping list together.  The Commonwealth’s seventh annual back-to-school Sales Tax Holiday returns in August, just in time to help Virginians save some money. 

During this three-day event, which begins Friday, Aug. 3, and runs through Sunday, Aug. 5, most school supplies costing $20 or less each and clothing items and footwear priced at $100 or less each will be exempt from Virginia’s 5 percent state and local sales tax.  The list of tax-exempt items is the same as last year and includes such products as pens, pencils, loose leaf ruled notebook paper, scissors, binders, backpacks, construction paper, sneakers, dresses, jeans and T-shirts.

“What better way to beat the summer heat than to go out and shop and support Virginia businesses,” said Governor Bob McDonnell. “Of the Commonwealth’s three sales tax holidays, this is the most popular because it helps parents around the state save money while purchasing essential school supplies, clothing and shoes to help their children have a successful year at school.  But it’s also important to remember that you don’t have to be going back to school to take advantage of these savings.  Who doesn’t want to save money on office supplies and summer clothes?”

An all-inclusive list of school supplies, a list of exempt clothing and footwear items, holiday guidelines for shoppers and retailers, and answers to frequently asked questions are available on the Department’s Sales Tax Holiday Information Center at www.tax.virginia.gov.

Sports Backers announces first-ever Tour of Richmond cycling event to be held October 2012

The Martin’s Tour of Richmond, a 102-mile race through eight local jurisdictions, will be Oct. 6, 2012. The ride will mimic a single stage of an elite bike race like the Tour de France.

The ride will be Sports Backers’ 11th fitness-related event of 2012. Sports Backers also hosts the Anthem Richmond Marathon, the Patrick Henry Half Marathon and the Connects Federal Credit Union Corporate 4-Miler.

This Gran Fondo Race will also include a 58-mile option and a 29-mile option.

“MARTIN’s was quick to jump on the opportunity to serve as the title sponsor for this new community event,” said Jim Scanlon, Regional Vice President of MARTIN’S. “Being a part of major events like the Tour of Richmond gives us an opportunity to emphasize our commitment and dedication to our community and its quality of life.”

The full 102-mile course starts and finishes at the Richmond International Raceway complex, which is the site of the post-ride party for all three distances. The 58-mile course is projected to start at the J. Sargeant Reynolds Goochland Campus, and the 29-mile course is projected to start at Poor Farm Park in Hanover. The post-ride celebration will feature live entertainment, beer, and dinner for all participants.

The full course passes through eight jurisdictions in and around Richmond including:

  • City of Richmond
  • Chesterfield
  • Powhatan
  • Goochland
  • Louisa
  • Hanover
  • Ashland
  • Henrico

All riders must finish before 6 p.m. Any riders still on the course after 6 p.m. will be asked to ride in the SAG vehicle to the finish line or may choose to finish the route, no longer receiving any course support. All finishers will receive a finisher medal. Additional awards will be distributed to the top three male and top three female finishers, and age group awards will be mailed out after the event.

Sports Backers executive director Jon Lugbill said, “This event has the potential to really grow the pool of active cyclists in the community and make Richmond a more bike-friendly community at the same time.”

Wednesday’s announcement comes nine months after Richmond was chosen to host the 2015 World Biking Championships, which planners hope will draw thousands of participants and spectators to the region.

The event also coincides with the launch of Bike Walk RVA, a subdivision of Sports Backers’ Active RVA initiative. Bike Walk RVA will focus on making Richmond more bicycle-friendly by adding paved trials, sidewalks and bike lanes.

Registration for the first annual MARTIN’S Tour of Richmond is now open. Please visit www.sportsbackers.org for more information or to register for the event.

Did your VA real estate agent ask you to sign something before you looked at a home ?

On July 1, 2012 Virginia’s real estate agency law changes — this is the law that governs how Realtors® and their clients do business together.

image

The most significant change is fairly simple and straightforward:

 Brokerage agreements must now be in writing. Further, they must be signed as soon as an agent meets and engages in any kind of “licensed activity”

i.e. If you want to see a home that’s for sale you will have to sign a brokerage agreement or a non client agreement. If you refuse to sign an agreement or a non-client representation agreement, and an agent shows you a house, that agent would be in violation of Virginia State law!

Basically what this means is either you are or are not being represented by an agent who is showing you a home. If you are being represented, then the agent works for YOU! The agent can recommend price, negotiate on your behalf, they look out for your best interest. Whatever you tell them stays private. If you do not sign a buyer broker agreement, then the agent showing you the homes works for the seller , they can not recommend anything but full price, they can disclose anything you say  to the sellers.

Why the change?

  1. Inform the consumer: The law is to make sure consumers are fully informed about the real estate services they’ll receive and the nature of the relationship with the licensee.
  2. Mitigate REALTOR® liability: The law is designed to protect licensees by making sure full disclosure is provided and the nature of brokerage relationship is reduced to writing. It’s to eliminate much of the consumer confusion that can come back and bite the licensee.
  3. Discourage opportunistic dual agency: The law is intended to make sure that licensees who practice dual agency are fully informing consumers about the risky nature of that relationship.

Other important points

• Duration. A signed agreement doesn’t have to be a long-term contract — it can be for a month, a week, a day, or even to show a single property.

  • Exclusivity. Brokerage agreements do not have to be exclusive. The following must be included in a brokerage agreement

• A schedule of services you will provide. (Your brokerage may already have standard language for this section.)

• A list of fees, if any — and how and when they will be paid.

• The duration of the agreement; if this is omitted, the law assumes it’s for 90 days. Traditionally, some agents have waited until later in the client relationship to ask for a signed agreement, even to the point of including it with documents at closing. But best practices have always suggested you provide this sooner and in writing. And as of July 1, the law requires it as well

Read more about a Realtors duties here

 

bannerpsst … I’m a Realtor! Thanks for stopping by my website. I  would love to help you find your dream home and community in the Hampton Roads or Williamsburg areas of Virginia or to sell your existing home.

This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and  and his expertise in the local real estate market.

His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the  surrounding areas of the Virginia Peninsula.

Here you can search homes for sale , active adult communities, 55+ communities, condos and townhomes , foreclosures/ REOland, building lots, commercial property  in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia
You can reach John by phone at 757-254-8136 or email him atJohn@MrWilliamsburg.com

I look forward to serving your real estate needs!

Best,

John

Redskins coming to Richmond

Governor Bob McDonnell announced today that, the Redskins will begin working with the City of Richmond to identify a suitable training camp site to hold summer practice in Richmond, starting in 2013.

The Washington Redskins will move their summer training camp to Richmond for an eight-year run beginning in 2013

Richmond Mayor Dwight Jones commented, “The Washington Redskins bringing their summer training camp to Richmond is beyond exciting. This will have a great economic impact for Richmond and the region! I thank the owners and senior executives of the Redskins for their ongoing work with us to determine the right facilities to meet the team’s needs. I thank Governor McDonnell for his leadership. Hail to the Redskins!”

The Redskins’ decision to bring the camp to Richmond was less about available facilities than the opportunity to get the team away from home in the preseason and to market the team to an area that encompasses Hampton Roads and southern Virginia as well as the greater Richmond region, according to Suzette P. Denslow, chief of staff to the mayor..

"They think Richmond opens them up to a broader market and a market that is supportive of the Redskins."

The team is currently holding its training camp in Ashburn.

“In conjunction with the governor’s office and the City of Richmond, we also look forward to finding a great summer training camp facility in the city for both our team and our fans to enjoy,” Bruce Allen, Redskins executive vice president and general manager, said in the release.

The City of Richmond is considering a number of locations for Redskins summer practice and will make further announcements regarding that process in the days and weeks ahead.

Training Camp Frequently Asked Questions

Continue reading

Make your home a River Hero …

River Hero Homes is a way to recognize homeowners who are successfully taking steps to improve water quality by reducing the amount of storm water and pollution leaving their property.  Becoming a River Hero Home is a simple way to help protect the James River.  Depending on where you live, becoming a certified River Hero Home may also help you qualify for storm water rebates or credits offered by your locality.

 Visit the River Hero Homes website for more information!

The River Hero Homes program was in the spotlight during the May edition of Virginia Home Grown. If you missed it being aired on WCVE, you can view it online on their website

Amazon Local launches in Richmond VA

imageGroupon and Living Social be warned. Amazon has launched a daily deal coupon business in the Richmond  VA area

Amazon Local  Richmond launched last month and has offered discounts for a variety of local businesses

Amazon joins a crowded market of daily deal sites, including Groupon and LivingSocial and other small and local copycats. Both Groupon and LivingSocial went live in Richmond in 2010.

Amazon’s move comes amid signs that the once red-hot daily deal market might be cooling.

US Foreclosures down 15% from 2011 in April

There were 66,000 completed foreclosures in the U.S. in April 2012 compared to 78,000 in April 2011. Almost 50% of these were in five states.

Highlights as of April 2012:

  • The five states with the highest number of completed foreclosures for the 12 months ending in April 2012 were: California (142,000), Florida (92,000), Michigan (60,000), Texas (58,000) and Georgia (57,000). These five states account for 48.8 percent of all completed foreclosures nationally.
  • The five states with the lowest number of completed foreclosures for the 12 months ending in April 2012 were: South Dakota (62), District of Columbia (162), North Dakota (541), West Virginia (598) and Hawaii (601).
  • The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (12.0 percent), New Jersey (6.7 percent), Illinois (5.3 percent), Nevada (5.0 percent) and New York (5.0 percent).
  • The five states with the lowest foreclosure inventory were: Wyoming (0.7 percent), Alaska (0.8 percent), North Dakota (0.9 percent), Nebraska (1.0 percent) and South Dakota (1.4 percent).

image"Nationally the inventory of homes in foreclosure decreased 0.1 percent from what it was a year ago at this time, and has leveled off over the first four months of 2012."

ForeclosureClick here to download the full April 2012 Foreclosure Report. from Corelogic

From the chart below you can see that Virginia ranks in the lowest percentages of foreclosure rates in the US,

You can search foreclosed , bank-owned homes/ REO in all of Hampton Roads VA here. No registration required.  FREE

Virginia launches Veterans ID Cards

The State of Virginia has launched the new Virginia Veterans ID Card available from the Department of Motor Vehicles (DMV) in partnership with the Department of Veterans Services (DVS) .

The card will help thousands of Virginia veterans identify themselves as veterans and obtain retail and restaurant discounts around the state. 

Governor McDonnell said, “Virginia is home to 823,000 veterans who have protected and served our great nation.  It is Virginia’s duty to serve them.  The launch of the Virginia Veterans ID card will provide a new state resource to aid in obtaining discounts and other services from the Commonwealth’s retail community, as well as providing convenient identification for Veterans.  This initiative is a perfect example of state agencies working together to assist those individuals who have served and sacrificed for our great nation.  We take seriously our responsibility to provide resources and support to our veterans.  This is an important step towards reaching our goal of making Virginia the ‘most Veteran friendly state in the nation.’”

Continue reading

A Message from Gov. McDonnell

From Governor Bob McDonnell  as Virginians observe Memorial Day across the Commonwealth.

“As we observe Memorial Day with friends and family members, we remember those who gave the ultimate sacrifice to protect the freedoms we now enjoy. This year, 40 additional heroes are recognized as Virginians who have paid that sacrifice in the ongoing war on terror with their names to be added to Virginia’s Wall of Honor.

These include from the United States Army Sergeant Zainah C. Creamer – Fairfax County; Sergeant First Class Anthony Venetz, Jr. – Prince William County; Captain Michael W. Newton – Newport News; Specialist Levi E. Nuncio – Harrisonburg; Specialist Douglas J. Green – Sterling; Staff Sergeant James R. Leep, Jr. – Davenport; Specialist Ryan M. Lumley – New Kent County; Private First Class Michael W. Pyron – Hopewell; Sergeant First Class Benjamin B. Wise – Suffolk; Brigadier General Terence J. Hildner – Fairfax; Corporal Timothy J. Conrad, Jr. – Roanoke; Staff Sergeant Brandon F. Eggleston – Pearisburg; Private First Class Richard L. McNulty, III – Chester; Captain Jesse A. Ozbat – Prince George; from The United States Marines Corporal Lucas T. Pyeatt – Newport News; Major Samuel M. Griffith – Virginia Beach; Master Sergeant Travis W. Riddick – Orange County; from the United States Airforce Major Raymond G. Estelle, II – Yorktown; From the United States Navy Lieutenant Commander Jonas B. Kelsall – McLean; Master Chief Petty Officer Louis J. Langlais – Virginia Beach; Senior Chief Petty Officer Thomas A. Ratzlaff – Hampton Roads; Senior Chief Petty Officer Robert J. Reeves – Hampton Roads; Senior Chief Petty Officer Heath M. Robinson – Hampton Roads; Senior Chief Petty Officer Kraig M. K. Vickers – Virginia Beach; Chief Petty Officer Darrik C. Benson – Hampton Roads; Chief Petty Officer Brian R. Bill – Hampton Roads; Chief Petty Officer Christopher G. Campbell – Virginia Beach; Chief Petty Officer John W. Faas – Hampton Roads; Chief Petty Officer Kevin A. Houston – Chesapeake; Chief Petty Officer Matthew D. Mason – Hampton Roads; Chief Petty Officer Stephen M. Mills – Hampton Roads; Chief Petty Officer Nicholas H. Null – Hampton Roads; Chief Petty Officer Jon T. Tumilson – Hampton Roads; Chief Petty Officer Aaron C. Vaughn – Hampton Roads; Chief Petty Officer Jason R. Workman – Hampton Roads; Petty Officer 1st Class Jared W. Day – Hampton Roads; Petty Officer First Class John Douangdara – Hampton Roads; Petty Officer 1st Class Michael J. Strange – Hampton Roads; Petty Officer 1st Class Caleb A. Nelson – Norfolk; from the Central Intelligence Agency Agent Jeremy J. Wise – Virginia Beach;

In Virginia, home to so many members of the United States Armed Forces and their families, the meaning of this day takes particular significance. Today, as we remember those we have lost, please thank a service member and a veteran for their service in the defense of freedom.

Memorial Day is also a day to remember those at home in our law enforcement community who place themselves in harm’s way to protect and serve. Since January 2011, seven Virginia state and local law enforcement officers have given their lives in the line of duty including: Deputy Sheriff William Stiltner and Deputy Sheriff Cameron Justus of the Buchanan County Sheriff’s Department; Sergeant Morton Ford of the Alexandria Police Department; Trooper Adam Bowen of the Virginia Department of State Police; Officer Deriek Crouse of the Virginia Tech Police Department; Police Officer Specialist Timothy Brian Schock of the Chesapeake Police Department; Deputy Sherriff Michael Walizer of the Charles City County Sheriff’s Department.

Seeing the sacrifices so many Virginians have made to protect us is a solemn reminder of the cost of freedom. On behalf of a grateful nation and 8 million Virginians who are able to rest under the blanket of freedom our military members, national guardsmen and law enforcement provide, I wish to personally thank the men and women who serve and their families for all of their sacrifices, and to honor the 40 Virginia military personnel and seven law enforcement officers who were honored this year for making the ultimate sacrifice in the fight for freedom. Virginia is forever grateful.”

The worst is over for the U.S. housing market

imageThe worst is over for the U.S. housing market. After six years of declining sales and falling prices that wiped $7 trillion from the value of housing assets, a turning point has been reached.

The housing recovery will come in two phases. First, home prices will rise by just under 1 percent in the second half of 2012. In 2013, prices will rise by 1.5 percent, then go up another 2.5 percent in 2014. For the second phase, home prices will increase 3 to 3.5 percent between 2015 and 2017. These are the predictions from a report released by the Demand Institute, which is jointly operated by The Conference Board and Nielsen. The Demand Institute sees average prices rising by up to 1 percent in the second half of 2012 (in seasonally adjusted terms), marking the start of a housing recovery.

Currently, 11 percent of homeowners say they would like to sell their home but their home is not on the market. The commonest reason cited, by half of these homeowners, is that they would not be able to get the price they want.12 We predict that once price growth has risen to the 3 percent forecast for 2015, these homeowners will start to return to the market and the volume of sales of existing homes will increase. Given that homeowners are voluntarily holding back today, they will re-enter the market cautiously and in an orderly fashion, and the potential likelihood of a flood of inventory that could reverse price increases will be avoided.

The recovery will be led by demand from buyers for rental properties, rather than, as in previous cycles, demand from buyers acquiring properties for themselves. More than 50 percent of those planning to move in the next two years say they intend to rent.

  • Rental demand will help to clear the huge oversupply of existing homes for sale. In 2011, some 14 percent of all housing units were vacant, while almost 13 percent of mortgages were in foreclosure or delinquent—increases of 12 and 129 percent respectively over 2005 levels. It will take two to three years for this oversupply to be cleared, and at that point home ownership rates will rise and return to historical levels. More than 70 percent of those planning to move three to five years from now say they intend to purchase their home.
  • The housing market recovery will not be uniform across the country. Some states will see annual price gains of 5 percent or more. Others will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.
  • Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong. We do not expect to see a long-term drop in ownership rates. Indeed, one survey has revealed that more than 80 percent of Americans recently thought buying a home remained the best long-term investment they could make.

Read the entire report here

Active duty military and families can get free annual passes to national parks

Starting this  Saturday May 19th, 2012, all active-duty military personnel and their dependents can get a free annual pass to visit any of the country’s more than 2,000 national parks, wildlife refuges and other public lands, the Interior Department announced today.

Saturday is Armed Forces Day. The passes are part of the Joining Forces initiative led by first lady Michelle Obama and Jill Biden, wife of Vice President Joe Biden, to support military families .

The pass is available to activated members of the National Guard and Reserves, but not veterans.

The passes can be obtained at any national park or wildlife refuge that charges an entrance fee by showing military identification. Family members can obtain their own pass if the service member is deployed or traveling separately.

Service men and women from all five branches of the military – the Army, Navy, Air Force, Marine Corps and Coast Guard, including the Reserves and National Guard – are eligible just by showing a current, valid military identification card.  The pass is also available for the family members of active duty military, which is critical because we know that military spouses and children make sacrifices for our country every day too.

FAQ about the pass program

 

Are there any benefits for veterans?

There is not a pass specifically for veterans; however, many veterans qualify for one of the other discount passes offered as part of our pass program.

If you are 62 or older you qualify for a LIFETIME Senior Pass for $10

If you have a permanent disability you may qualify for an Access Pass. This is a free lifetime pass that you may obtain in person from a participating Federal recreation site or office or by mail.

Mortgage rates hit record lows again

The 30-year fixed rate average dropped to an all-time low for the second consecutive week, falling ever so slightly from 3.84 percent last week to 3.83 percent, according to the latest data released Thursday by Freddie Mac. The average stood at 4.63 percent this time last year.

The 15-year average followed suit, dipping to 3.05 percent after setting a new record last week at 3.07 percent. One year ago, the 15-year averaged 3.82 percent.

Frank Nothaft, Freddie Mac’s vice president and chief economist, largely pegged the drop in rates this week to a dip in bond yields.

“Following April’s weaker than expected employment report, and the French and Greek election results raising concerns over the stability of the Euro currency zone, long-term Treasury bond yields declined allowing fixed mortgage rates to ease to new all-time record lows this week,” he said in a statement.

On Wednesday, new data showed that the number of U.S. homeowners behind on their mortgage payments has also dropped to the lowest level since 2009, with only 5.78 percent of mortgage holders falling behind during the first three months of the year. That’s down from a 6.19 percent delinquency rate during the same period last year and 6.01 percent during the last quarter of 2011, according to the report published by TransUnion.

Virginia to get lower utility bills

Say it ain’t so. The bills of Dominion Virginia Power customers could drop 4 percent in September because of mild weather and a drop in natural gas prices.

The utility is seeking permission from the State Corporation Commission for two decreases that would offset three smaller increases the company is seeking.

Dominion is requesting a $5.83 drop in the monthly bill of its typical Virginia customer because of lower-than-expected prices to generate electricity, mild weather and the performance of new generating units.

“The abundance of natural gas also has driven the price down, and we have taken full advantage of this at our new Bear Garden Power Station.,” Dominion Virginia Power CEO Paul D. Konce said in a statement. “This highly efficient, natural gas-fired station is projected to save our customers approximately $122 million in fuel costs from June 1, 2011, through June 30, 2013, when compared with other fuel sources.”
The company is also proposing a decrease of $2.67 becomes of lower transmission-related costs. The three increases include 34 cents to cover energy efficiency programs, an increase of $1.32 once the Virginia City Hybrid Energy Center in Wise County begins commercial operations and an increase of $2.84 on Aug. 1 with the expiration of a credit to customers that has been applied to customers’ bills since February after the SCC reviewed base rates.

The fuel rate, adjusted each year, is a pass-through cost that does not affect Dominion’s profit

10 Best Places to Buy Foreclosures in 2012

ForeclosureIn Williamsburg, James City County we are blessed with a low percentage of bank owned foreclosures on the market. In the past 12 months they accounted for only 9.3% of sales.

Other areas have been hit much harder. As a point of comparison  in the rest of Hampton Roads, 25% of sales in March of 2012 were distressed sales ( REO, Foreclosures, Short sales).  On average they were selling for a 41% discount from non distressed properties.

Prices for residential real estate, which plunged more than 50 percent in some markets after the housing bubble burst, appear to be stabilizing. Some real estate markets are better than others. But where are the best opportunities to buy discounted foreclosures? Which metropolitan areas offer homebuyers and investors the biggest discounts and the highest potential return on investment (ROI)?

RealtyTrac has selected the 10 best places in America to buy a foreclosure in 2012. 

To compile their Top 10 list, they started with the nation’s 100 largest metropolitan statistical areas based on population. From there, the list was narrowed  further by selecting market with at least 200 sales transactions in January 2012. The list was then pared down by selecting metros where the average foreclosure sales price was at least 30 percent below the average price of a non-foreclosure home.

image

 

You can search foreclosed , bank-owned homes/ REO in all of Hampton Roads VA with the links below. No registration required.  FREE

Search Chesapeake VA Foreclosures

Search Hampton , Newport News Foreclosures

Search Isle of Wight Foreclosures

Search Norfolk Foreclosures

Search Poquoson Foreclosures

Search Portsmouth Foreclosures

Search Smithfield Foreclosures

Search Suffolk Foreclosures

Search VA Beach Foreclosures

Search Williamsburg Foreclosures

Search Yorktown Foreclosures

 

image

image

 

bannerpsst … I’m a Realtor! Thanks for stopping by my website. I  would love to help you find your dream home and community in the Hampton Roads or Williamsburg areas of Virginia or to sell your existing home.

This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and  and his expertise in the local real estate market.

His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the  surrounding areas of the Virginia Peninsula.

Here you can search homes for sale , active adult communities, 55+ communities, condos and townhomes , foreclosures/ REOland, building lots, commercial property  in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia
You can reach John by phone at 757-254-8136 or email him atJohn@MrWilliamsburg.com

I look forward to serving your real estate needs!

Best,

John

Costco now offering mortgages

First coffins now mortgages.

Costco shoppers  can now land themselves a mortgage.

After a year of testing, Costco is rolling out a full-service mortgage lending program on its website in partnership with First Choice Bank, a New Jersey-based community bank, and 10 other lenders. .

Costco’s partners have issued more than 10,000 mortgages to members under the program

Mortgages are just one of several financial products available to Costco’s members. The warehouse club also offers health and auto insurance, as well as stock brokerage services.

Up next: Auto loans and student loans.

Costco had started offering mortgages a couple of years ago but the service provider it was using didn’t share enough details about how it was dealing with Costco’s members, so Costco started over from scratch, partnering with First Choice Bank to build a new mortgage lending portal.

Much like LendingTree, the site gathers quotes from various lenders. However, there is one key difference. Under the Costco program, the borrower’s identity is revealed only after they officially select the lender.

With many other lead-generation sites, the consumer fills out an application and any lender can make an offer and begin sending marketing communications to the applicant without restrictions.

Costco members will still need to do their homework and compare offers, though,

First Choice said it will police the other lenders to ensure they comply with Costco’s policies, which include giving accurate rates and terms and following up quickly on questions and requests. The technology enables Costco to monitor individual applications and make sure they are handled properly and expeditiously.

Costco takes no profit on the lending itself, but it does get paid to market the service.

Virginia Continues to Lead the Way in Job Growth and Economic Competitiveness

Virginia was ranked as the third-best state in the country for its economic outlook in a report released Thursday by the American Legislative Exchange Council. In its fifth edition of “Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index ” Virginia outperformed other states on economic policy based on a ranking that uses 15 equally-weighted variables in the areas of tax, labor, and regulatory policy.

 The report, authored by world-renowned economist  Dr. Arthur B. Laffer, Stephen Moore, senior economics writer at The Wall Street Journal, and Jonathan Williams, director of ALEC’s Center for State Fiscal Reform, shows Virginia outperforming other states on economic competitiveness and economic policy.

The Commonwealth of Virginia is one of the best states in the nation to do business, ranking 3rd best in the economic outlook ranking. The authors of the report show how taxpayers “vote with their feet and dollars,” by migrating away from high tax states, and moving into low tax states, such as Virginia.

Continue reading

16 Area Schools Cited For Academic Achievement

Virginia Board of Education Honors High-Performing Title I Schools

Sixteen area schools and one school division in the Williamsburg/ West Point and Hampton Roads area  were honored last week for raising the achievement of disadvantaged students.

The awards are based on student achievement on state assessments during the 2010-2011 and 2009-2010 school years.

West Point  and Highland County  earned the designation of “Distinguished Title I School Division” by exceeding all federal Elementary and Secondary Education Act (ESEA) achievement objectives in reading and mathematics for two consecutive years.

The board also recognized 16 area schools (out of 92 in the state) as “Title I Distinguished Schools” for maintaining full state accreditation under the commonwealth’s Standards of Learning program for two consecutive years, meeting federal benchmarks in reading and mathematics and having average test scores in both subjects at the 60th percentile or higher.

“The foundation of each of these success stories is the conviction that all children – regardless of family income – can learn and achieve,” Board of Education President David M. Foster said.

“The success of these schools and divisions is particularly noteworthy given how the federal benchmarks increase every year,” Superintendent of Public Instruction Patricia I. Wright said.

The recognized area schools, grouped by division, are as follows:

  • Gloucester County – Abingdon Elementary, Achilles Elementary, Bethel Elementary, Petsworth Elementary and Thomas C. Walker Elementary
  • Isle of Wight County – Carrsville Elementary
  • York County – Bethel Manor Elementary, Dare Elementary, Grafton Bethel Elementary, Tabb Elementary and Waller Mill Elementary
  • Norfolk – Ocean View Elementary
  • Virginia Beach – W.T. Cooke Elementary
  • Williamsburg-James City County – Matthew Whaley Elementary and Rawls Byrd Elementary
  • West Point – West Point Elementary

Title I of ESEA provides funding to school divisions and schools for programs to raise the achievement of students identified as being at risk of academic failure. The federal education law, whose most recent reauthorization is also known as the No Child Left Behind Act of 2001, requires schools and school divisions to meet annual objectives for increasing student achievement on statewide assessments in reading/language arts and mathematics. During 2010-2011, 294, or 40 percent, of Virginia’s 729 Title I schools met all federal objectives.

Positive Outlook for US Real Estate Market

The report this week  from Wells Fargo Securities’ Economic Group indicates many positive signs for the real estate market in the U,S

Wells Fargo has upgraded its outlook on the housing market in its April forecast, thanks to modest upswings in consumer confidence and home prices nationwide. The forecast, released jointly with NAHB, projects continued recovery through the rest of 2012. They do caution, however, that a full recovery could still be years away.

The increase in consumer confidence, says the report, largely stems from rising employment nationwide; this in turn leads to greater consumer spending, which drives confidence even higher.

  • New home sales are expected to increase 12 percent in 2012 and rise nearly twice as fast in 2013. With inventories of new homes at all-time lows, those gains should produce sizeable gains in single-family starts.
  • Single-family permits have risen in each of the past five months and are up 23.6 percent on a year-ago basis. Builder remains at its highest level since June 2007.
  • Home prices are expected  to definitively bottom by the middle of 2012, as the backlog of foreclosures finally begins clear. For properties not in foreclosure, prices have probably already bottomed, but should remain relatively low nonetheless given the competition and perceived competition from foreclosures.

Some of the greatest improvement in recent months has come in markets where overbuilding and speculation were the greatest, most notably Florida, Arizona and, to a lesser extent, Nevada. Prices have fallen so sharply in Florida, Arizona and Nevada that many traditional retiree buyers do not have to wait until they can sell their home in the Northeast or the Midwest before purchasing a home in the sunshine. Many of these buyers tend to transition to these states anyway, spending more time there until they eventually relocate permanently This has led to prices rising again, spurring the housing markets in those areas.

Prices have fallen so far in many markets that affordability is at a record high. One market where this trend is particularly true is Florida.  Prices have likely overshot in many Florida markets, including Miami, Daytona and Naples, which has been driving sales as investors search for undervalued properties. While this trend has not necessarily been true for the nation as a whole, it has also been evident in other boom-and-bust states, such as Nevada, Arizona and California.

Housing in the Sun Belt has also seen a modest turnaround, largely driven by economic policy, particularly the Home Affordable Refinance Plan (HARP). With the ability to refinance their mortgages at today’s lower interest rates, many homeowners are working their way toward a better overall financial situation.

Real home prices continue to fall and are now back down to 1999 levels. Price-to-rent ratios are also back down to 1999 levels. We are getting close to finding a bottom in national home prices.

All of these positive signs are especially significant on the heels of a cool winter selling season. As noted in the report, new- and existing-home sales both fell in February from January, dropping 1.6 and 0.9 percent, respectively; pending home sales also declined 0.5 percent.

To read the rest of the forecast, click here

Three local counties ranked among the top 10 healthiest in Virginia

Three local counties were in the top 10 list of  a new report ranked by several health factors including  education, access to health care, and unemployment.

The report just released by the Robert Wood Johnson Foundation and University of Wisconsin researchers  declared Fairfax County the healthiest area overall, followed by Arlington  Loudoun, both in northern Virginia; Albemarle,  York, Alexandria, James City, and Mathews at #10

The annual report identifies the healthiest and unhealthiest counties in all 50 states. Researchers use federal and state statistics and surveys to compile the lists.

The study also looked at behaviors that influence health like smoking and exercise, and other factors, such as education, air pollution, and access to physicians and healthy food.

Among other local areas: ; Poquoson was 27th; Virginia Beach was 29th; New Kent County was 30th; Chesapeake was 39th; Isle of Wight was 43rd; Gloucester was 48th; Charles City was 55th; Hampton was 66th; Suffolk was 69th;  Newport News was 80th; Surry was 87th; Norfolk was 106th; Portsmouth was 110th and the city of Franklin was 127th.

imageAt the bottom of the list is the city of Petersburg, whose premature death rate was more than double the state average and four times higher than Fairfax County. Petersburg also was last in behaviors such as adult smoking and obesity and physical inactivity, and worst in social and economic factors such as education, unemployment and poverty.

Others among the unhealthiest areas were the city of Emporia, Buchanan County, Dickenson County, and the city of Franklin.

Fairfax wasn’t perfect, either.

One of the report’s categories is physical environment, including air pollution, access to recreational facilities and healthy foods, and the number of fast-food restaurants.

Although the category wasn’t given significant weight in the report, Fairfax County had the highest number of days annually with unhealthy air quality due to ozone and particulate matter.

Several new measures in this year’s report include how many fast-food restaurants a county has, the levels of physical inactivity among residents, and premature death trends over the previous decade.

In about half of the counties and municipalities, at least 50 percent of the restaurants were of the fast-food variety.

For the full reports, go to www.countyhealth rankings.org.

VA. moving closer to installing America’s first offshore wind turbine

imageThe Virginia Marine Resources Commission has voted  to approve proposed construction of a 479-foot-tall, five-megawatt wind turbine generator prototype in the lower Chesapeake Bay, three miles off the Eastern Shore town of Cape Charles. The construction of the prototype turbine is scheduled to be completed in late 2013, which would be before other offshore wind energy projects are slated to be built in other parts of the country. This prototype is a significant step forward in Governor Bob McDonnell’s goal to pursue an "all of the above" energy approach including wind, coal, nuclear, oil, and renewable energy projects making Virginia the energy capital of the East Coast. The project now requires approval from the U.S. Army Corps of Engineers and review by the U.S. Coast Guard.

The proposal was submitted by Gamesa Energy USA, which is partnering with Huntington Ingalls Newport News Shipbuilding, to develop and test new offshore wind technologies that will reduce the cost of wind power.

"This is an important next step in developing all of Virginia’s domestic energy resources to help power our nation’s economy and puts Virginia at the forefront of clean energy technology development,’ said Governor McDonnell. "This step forward holds tremendous potential for jobs and for economic development here in the future. Virginia’s unique and efficient permitting process adopted for small energy projects like this one was a critical factor in Gamesa’s choice of Virginia as the location for this U.S. wind energy operation, and today we see the fruit of these proactive policies."

Continue reading

Virginia Home Sales Increasing

While we are always reminded that real estate is local its nice to see how the state as a whole is doing. In another sign of potential stabilization of the Virginia housing market , home sales rose 8.6% in February 2012 as compared to 2011.  This strong increase is after a 2.7% year-over-year increase in January 2012.  Virginia’s unemployment rate of 5.8% in January is the lowest level seen since December 2008 and provides a strong climate for growth in the housing market.

Download the full February 2012 Virginia Home Sales Report below which also highlights:

  • Monthly median sales prices only declined 0.9% in the past year.
  • Monthly sales volume increased 8.4% between February 2011 and February 2012.
  • Average days on market stayed level at 105 days in February 2012.

February 2012 Virginia Home Sales Report

image

Virginia , Named Best State To Make A Living

imageMoneyRates.com has ranked Virginia the “Best State to Make a Living” in its annual study. Virginia jumped up from fourth place in 2011 to take the top spot in 2012 based on measurements in the four categories considered by MoneyRates.com: Average Income, which has increased over the past year; Cost of Living based on ACCRA Cost of Living Index, which slightly decreased; Unemployment Rate, which has decreased in Virginia; and State Income Tax, which has not increased under the McDonnell administration.

From the report:

1. Virginia (Adjusted average income: $43,677)

In jumping from fourth to first, Virginia improved its adjusted average income figure by $2,557. This year, Virginia enjoyed a best-of-both-worlds scenario in which its average income rose while its cost of living fell slightly. The state also saw its unemployment rate drop to 6.2* percent, which is well below the national average.

*While the report is impressed by Virginia’s previous drop to 6.2 percent unemployment, the new seasonally adjusted unemployment figures for January released just last week show an even greater drop in the state to 5.8 percent, a three-year low.

The rest of the top five included Washington, Texas, Illinois and Colorado. The ranking determined that Hawaii was the worst state to make a living, followed by Maine, Vermont, Mississippi and Montana.

Dominion Power Wants To Lease The Entire Ocean Off The Coast Of Virginia

Dominion Virginia Power told the federal government today that it is interested in obtaining leases off the Virginia coast in an area that has the potential to generate approximately 1,500-2,000 megawatts of electricity from offshore wind turbines. The exact capacity would be dependent on detailed site investigations.

Dominion Virginia Power told the federal government today that it is interested in obtaining leases off the Virginia coast in an area that has the potential to generate approximately 1,500-2,000 megawatts of electricity from offshore wind turbines. The exact capacity would be dependent on detailed site investigations.Dominion expressed its interest in the entire 113,000 acres the government is making available approximately 24 miles off the Virginia coast in its response to the Bureau of Ocean Energy Management (BOEM)’s Call for Information and Nominations that was issued Feb. 3.

"Offshore wind generation holds great promise in the long term as a scalable source of emissions-free renewable electricity," said Mary C. Doswell, executive vice president-Alternative Energy Solutions. "Virginia is well positioned to accommodate offshore wind with the existing electric grid and world-class port facilities in Hampton Roads. The challenge remains the high cost of building this generation and bringing it to customers."

The U.S. Energy Information Administration projects the cost of offshore wind generation in 2016 at approximately 24 cents per kilowatt-hour generated. This is a significant premium over the 7.3 cents per kilowatt-hour that comprise the generation portion of Dominion Virginia Power’s residential rate today of about 10.9 cents per kilowatt-hour. 

Continue reading

Redskins consider Richmond for preseason training

News that will make my two teenage boys excited !

The Washington Redskins confirmed Wednesday that the team is looking at Richmond as a possible site for its summer preseason training camp.

The three-week camp would involve more than 150 people, including about 90 players and prospects, as well as coaches, trainers and other support staff, said Eric J. Finkbeiner, a Richmond lawyer acting as local consultant to the Redskins.

A National Football League summer training camp generally has an economic impact of more than $5 million on the surrounding community, said Finkbeiner, former policy director for Gov. Bob McDonnell and currently a lawyer at McGuireWoods and its consulting arm.

Read the full article here.

First Lady Of VA @ Williamsburg Winery Promoting VA Wine

imageWhen most think of Virginia, wine is one of the last things to come to mind, but Williamsburg Winery and other wineries across the state are hoping to change that.

"Our goal is to promote tourism, the opportunity for people to experiment and taste different wines from different wineries and match that with great food from Virginia," said Patrick Duffeler, founder of the Williamsburg Winery .

From humble beginnings, The Williamsburg Winery has experienced continuous growth through an expanding portfolio of wines.  The introduction of our 2007 Adagio is, for the moment, the culmination of a single-minded goal to produce the highest quality wines in the world. Noted wine educator Kevin Zraly has opined that The Williamsburg Winery makes "some of the best wines in the world'. Duffeler and Virginia’s First Lady Maureen McDonnell are promoting " Love by the Glass ," Virginia’s first wine week.

"Virginia, over the most recent decades, is receiving global recognition. We’re beating out California in a lot of our competitions and receiving acknowledgements at the great wine industry fairs that are over in Europe," McDonnell said.

From Cabernet Sauvignon to White Zinfandel, people are raising their glasses and realizing that Virginia has a lot to offer in the wine making industry.

When vines, like the ones at the Williamsburg Winery, bear fruit in the coming months, they’ll bring the state more than meets the eye – or the lips.

During Wednesday’s event Williamsburg Winery owner Patrick Duffeler introduced the  Colonial Virginia Wine Trail, which features Williamsburg Winery,  Saudee Creek Vineyard,   New Kent Winery and James River Cellars.

Listed below are  the other wineries that participated in the FLITE visit:

Ingleside Vineyards is located in Oak Grove on Virginia’s Northern Neck.

Chatham Vineyards is located in Machipongo on Virginia’s Eastern Shore. 

March is Virginia Wine & Dine Month! Billed as “a celebration to showcase Virginia wines at restaurants and wine shops across the Commonwealth”, the Virginia Wine Board has organized a wonderfully diverse group of merchants, restaurateurs, and of course our favorite winemakers to throw a month-long party highlighting the fine wines of Virginia.

Love by the Glass, Virginia Wine and Dine Month, highlights Virginia wines and great culinary dishes together at more than 300 participating restaurants and wine shops across the state. Virginia's wine week, Participating restaurants  will add at least two Virginia wines to their menus in celebration.Love by the Glass, Virginia Wine and Dine Month, highlights Virginia wines and great culinary dishes together at more than 300 participating restaurants and wine shops across the state. Virginia’s wine week, Participating restaurants  will add at least two Virginia wines to their menus in celebration.

search www.VirginiaWine.org to find participating businesses across the state.

Virginia is home to more than 155 wineries across the state in nine different wine producing regions. The state is getting national recognition for several varietals including Viognier, Cabernet Franc and Petit Verdot; and it is producing a growing variety of wines quickly gaining a loyal following including Bordeaux styles blends, sparkling wines and the native varietal Norton. Virginia was named one of the top five up-and-coming wine destinations by Travel + Leisure magazine in 2007.

For more information on "Love by the Glass" click here .

FHA Loan Fees Increasing

FHA-backed loans, which help make home ownership attainable for many Americans, will get pricier in about a month.

In order to boost their dwindling capital reserves, the Federal Housing Administration announced on Monday that they will adjust their premium structure for FHA-insured mortgage loans.

Starting on April 1st, the upfront insurance premiums will rise from 1 percent to 1.75 percent of the base loan amount. FHA’s annual mortgage premium will also increase, by 0.10 percent for loans under $625,000 and 0.35 percent for amounts above that.

For a $300,000 loan, the new premium “works out to $5,250, up from $3,000, but because homebuyers are allowed to finance the upfront insurance premium into the balance of their mortgages, officials said the sticker shock from the higher fees would be relatively modest, provided that borrowers can qualify for a slightly larger loan.

On a loan amount of $300,000, we are seeing an increased payment of $35.42, which doesn’t sound too bad. However, many home buyers buy homes comparing what their monthly payment will be after they close. This hike in payment is equivalent to borrowing an additional $7000.

Starting next month, it’s as if the home became $7000 more expensive. What is the result? Buyers are going to have to pay more OR they’re going to have to offer less to the seller (to maintain the same mortgage payment they were comfortable with today). A $7000 lower offer is like another 2.5% decline of home prices. Not good for anyone.

Federal Agency Will Sell Foreclosed Homes to Investors for Rentals

The Federal Housing Finance Agency will begin inviting bids from investors to buy packages of foreclosed properties to be offered as rentals.

The agency today said it will send detailed information to investors who qualify to participate in the bulk-sales pilot program. About 2,500 foreclosure homes will be marketed in Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida, according to a statement posted by the agency on its website today.

With this next step, prequalified investors will be able to submit applications to demonstrate their financial capacity, experience and specific plans for purchasing pools of Fannie Mae foreclosed properties with the requirement to rent the purchased properties for a specified number of years.

Structured Sales – Investor Pre-Qualification Process

Joint venture transactions are expected to allow qualified investors to purchase a controlling equity interest in a newly formed investment vehicle created to hold multiple properties in one transaction. The qualified investor would be responsible for the management and servicing of the assets, and would be an equity partner with Fannie Mae. Pools may be national, regional, or geographically focused, subject to post-closing asset management strategies and restrictions, and consist of vacant and / or occupied (including rented) properties. Sales of controlling equity interests will be limited to qualified investors.

If you are a prospective investor interested in receiving information regarding structured sales composed of Fannie Mae single family real estate owned assets, you will be required to meet certain minimum criteria to be Pre-Qualified. Once you are Pre-Qualified, you will be eligible to receive information regarding an actual proposed transaction if and when such information becomes available. The process to be Pre-Qualified is described below.

Pre-Qualification Process

Prospective investors must fill-out the Contact Information Form  as well as download and complete the Pre-Qualification Request Form. Once completed, the Pre-Qualification Request Form must be submitted to the email address on the form.

Fannie Mae, after review of both completed forms, will notify prospective investors whether they have been Pre-Qualified.

Questions may also be submitted using the Contact Information Form

image