The best
source to
find new and pre-construction condominiums and lofts in
Arlington, Alexandira & fairfax.
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Waterview
Residences
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Turnberry Towers
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For Sale
Click
on the link below to see for sale new lofts, new townhomes, new
condominiums, new home
communities, new single family homes, new custom homes, new
luxury condos and adult communities.
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For Rent
Click
on the link below to see for rent new lofts, new townhomes, new
condominiums, new home
communities, new single family homes, new custom homes, new
luxury condos and adult communities.
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Arlington
Alexandria
Falls Church
Annandale
Baileys Crossr
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Centreville
Herndon
Springfield
Lorton
Burke
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Mclean
Vienna
Chantilly
Alexandria
Fiarfax City
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Arlington
Alexandria
Falls Church
Annandale
Baileys Crossroad
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Centreville
Herndon
Springfield
Lorton
Burke
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Mclean
Vienna
Chantilly
Alexandria
Fairfax City
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WHEN A SHORT SALE BECOMES AN
EXERCISE IN FUTILITY
As
you probably already know, when an owner of a residential (single
family, condominiums, townhomes, lofts, coops, custom homes and ...) or
commercial property (office, retail, land, apartment, warehouse, hotel
and ...) tries to sell
that property for less than what is owed to the bank, we call this a
Short Sale.
We are hearing that over 50% of the short sales go
bust somewhere along the process with the bank. Buyers can
get
very frustrated with this process, also, as sometimes many months
will
go by with no update from the bank on whether or not the deal will be
approved. In fact, since many short sale properties get many
offers, a
buyer never really knows where he stands or if his offer is in the
lead
position or not.
Here are some other contributing factors to the wave of
unsuccessful short sales:
- A
realtor, according to the rules of the MLS, is required to change
the
status of his or her listing to PENDING SALE when the
buyer and seller execute the contract.
The problem, however, is that the contract needs bank approval,
and
many realtors wait until the bank approves the deal before changing the
status in the MLS. If a bank takes 3 or 4 months to approve
a deal,
the listing shows as Active in the MLS for that entire
time. So, more
offers come in (usually low-ball offers, by the way). The bank
sees
more offers, and they wait longer. The end result is that the
buyer
will often get tired of waiting and will pull out.
Realtors need to
better understand the MLS rules and that when they get a signed
contract they must update the MLS status to Pending Sale.
- A seller and/or his realtor, may believe
that they have a short sale offering, but have not done the appropriate
due diligence
with the lender to see if the lender is open to allowing such a
sale.
In general, the seller has to show a financial hardship. Often,
they
are just "underwater" with their property and want to sell
it. So,
after many months, a buyer may find that the bank does not approve the
sale, and all that time is wasted.
- A seller and/or his realtor fails to
prepare
sufficient documentation for the bank. Banks are overwhelmed
with
short sale offers and requests. If a seller and his realtor
prepare
complete documentation, including a report of how much the bank
will be
forgiving on the loan (and why), they have a much better chance of
getting acknowledged. A typical report package to the lender
should
include evidence of financial hardship, a sample HUD-1 statement
showing all the closing costs and a market analysis that shows why the
property should sell for the lowered price. If a banker has
all of
this information, his or her decision to grant the sale
becomes easier.
A
buyer looking for a good deal can pursue a short sale, if he or she has
patience, and is willing to wait many months. Sometimes, this
make
sense. However, with many other great deals out there, a buyer
may
just find that a traditional sale, at a good price, will avoid all the
frustration of a short sale. Plus, the property will be available
to
the buyer in a matter of weeks, not months.
Looking to
buy a short sale single family, townhome, loft, condominium or even a
commercial property for investment in Washigton DC, Maryland or
Virginia? call 202-361-3050 we will be glad to be of any help :)
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List
of new and pre construction lofts and condominiums
in Arlington, Alexandira and fairfax
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Arlinton
lofts
avalon at Arlington Square,
The Brittany,
Clarendon Apartments,
Columbia Center,
EastView/WestView at Ballston,
Fairmont,
The Eclipse,
Garfield Park at Clarendon Village,
Gatehouse,
Gates of Ballston,
Grove at Arlington,
Iō Piazza,
Joule,
Bromptons at Cherrydale,
Lofts 590 at
Crystal Towers,
Lofts
at Columbia Station,
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Arlinton
lofts
Mercer Lofts,
The Monroe at Virginia Square,
Myerton,
The
Odyssey
Condominium,
Buckingham Village,
Residences at Clarendon Court,
Residences
at The Market Common,
Shirlington Village CondStonegate at Faircrest,
Villages at Shirlington,
Terrace Lofts
The Palatine,
Park at Courthouse,
The Phoenix,
The Prime,
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Arlinton
lofts
The Residences at Liberty Center,
The Residences at Lyon Hill,
The Residences at Station Square,
Scene,
Turnberry Towers,
The Westlee,
Waterview,
18 West,
1800 Wilson,
2000
N. Wilson Blvd.,
Zoso Condos,
Wooster Lofts,
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Alexandira
lofts
Avalon at Cameron Court,
Cameron Station,
Carlyle Square ,
Carlyle Place Condominium,
Diamond Lincolnia,
National Gateway,
Jefferson at Carlyle Mill,
The Jamieson,
Lofts at
Braddock Metro, The,
Midtown - Alexandria Station,
Monarch,
Royalton, The,
EOS Twenty-One,
The Exchange at Van Dorn,
Old Town Court,
Prescott condominiums,
Potomac Greens,
Riverton,
The Strand,
Sullivan Place
Tuscany Condominiums
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Fairfax
lofts
Avera
condominiums,
The Byron,
Centerpointe
Condos
Elan
Condominium
Dulles Greene,
Easton,
Halstead Condo at the Metro,
Loft at Park
Crest
Morgan At
Mclean
Market Street at Town Center,
Potomac Center
Reserve
At Tyson Corner
One Park Crest Tower,
The Regency,
The
Spectrum
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Search for Commercial
Real Estate in Northern Virginia
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rent in Northern
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Search for Commercial Real
Estate in Washington DC
Washington DC Office
Spaces for lease , Washington
DC
Office Spaces for sale , Washington DC Retail
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Washington DC
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for sale
Why Why
why?
Why more and more loft
and condo developments are going rental in our area?
This phenomenon is due in large part to
decrease in demand and baby boomers and empty nesters downsizing from
their large homes in the
suburbs and seeking to take advantage of the amenities that come with
urban living. Also, the wave of new development occurring in the
Washington DC area is now spreading into the Virginia and Maryland
markets.
Arlington new condos,
Alexandria new condos, Reston new Condos, Fairfax new condos,
Lorton new condos, Rockville new condos, Bethesda new condos, Silver
spring new condos, Germantown new condos, Gaithersburg
new condos and Washington DC new condos are leading
the charge in urban development in our area.
The higher density
developments such as new condos, new condo hotels, new townhomes, and
new lofts are occurring at the cities? core as well as the suburban
areas.
Condominium developers
today strive to create not only great homes but a true live, work, and
play environment. New condominium, condo conversion, townhome, and loft
developments are popping up in all the major cities in our area. New
home sales are coming from local as well as out of state buyers.
Alexandria
new lofts, Arlington new lofts, Bethesda new lofts, North
West Washington DC new lofts and Rockville new
Lofts developments especially are going up like crazy!
Almost every major city in DC metropolitan area is
experiencing a new wave of urban development.
Looking for a commercial
Property to lease or buy in Washington DC, Maryland or Virginia? We can
help !!!
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Proplocate
Realty LLC / Robert Gamzeh, Associate Real Estate
Broker
©2007
WWW.VALOFTS.COM ALL RIGHTS RESERVED
The information on this website has been
secured from
sources we believe to be reliable, but we make no representation or
warranties, expressed or implied to the accuracy of the information.
Buyer must verify the information and bears all the risk for any
inaccuracies. Photos are the copy rights of their rightful owners.
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