FW: Fuel Assistance Program Extended until December 1

Hello Friends – If you or anyone you know needs assistance this winter with your heating fuel, please see the program below. My wife sent this to me and I wanted to pass this along. There is an online screening process for applicants to complete. Note the deadline – December 1.

---

From: DFS PIO [mailto:DFSPIO@fairfaxcounty.gov]
Sent: Monday, November 17, 2008 12:05 PM
To: DFS PIO
Subject: Fuel Assistance Program Extended until December 1

The application deadline for the federally funded Fuel Assistance program has been extended until December 1. The original application deadline had been set for Friday, November 14.

The Fuel Assistance program helps eligible low-income households with the costs of heating their homes.

Applications are also available on the Web from the Virginia Department of Social Services at www.dss.virginia.gov.

FairfaxCounty residents who wish to apply are encouraged to call the Department of Family Services’ energy assistance phone line at 703-324-7604 (TTY: 703-222-9452) or visit any of the department’s four offices:

• Fairfax - PenninoBuilding, 12011 Government Center Parkway
  703-324-7500, TTY 703-222-9452


• Falls Church - 6245 Leesburg Pike (Route 7), Falls Church
  703-533-5300, TTY 703-533-5316


• Reston - LakeAnneOfficeBuilding, 11484 WashingtonPlaza West, Reston
  703-787-4900, TTY 703-707-9346


• Richmond Highway/Alexandria - SouthCountyCenter, 8350 Richmond Hwy (Route 1)
  703-704-6353, TTY 703-799-3435

The Department of Family Services offices listed above are open from 8 a.m. to 4:30 p.m., Monday–Friday.

D.C. Area Housing Market Booming In Face of Struggling Markets Nationwide

What makes the Washington, D.C. market different than the rest of the country? The job market within the market. While other cities brag about being the headquarters of Fortune 500 companies, we have something none of them will ever have – the Capital City of the United States. I like the way one colleague puts it when explaining to agents from other states: “When you can put the Pentagon, Congress and the White House in your backyard, then you’ll have a housing market like ours.”

It’s been an interesting week on Wall Street and on Pennsylvania Avenue, leaving Main Street wondering what will happen with the housing market. When you look at our numbers around the Washington Monument, and see that the job growth here has moved upward and heating up even more, it doesn’t take a rocket scientist (or political scientist) to see that the inventory is dropping, prices are starting to level and move upward, and buyers are writing contracts at a triple digit rate more than last year.

If you’re looking to move up, this is the year to take advantage of level prices so you can move up without busting your personal budget. In addition, with FHA financing requiring a minimal down payment, first-time buyers are creating a feeding frenzy in the entry-level market in all property types. We’re seeing more parents help their kids buy a house now before they are priced out of the market. Renters are getting out of supporting the landlord and beginning to build their own equity and personal wealth.

So what? What does this mean to you? Real estate is local. Despite job challenges and foreclosures across the country, homebuyers and sellers must make a decision based on the local scene. The number of foreclosures in the area is declining month after month AND they are drawing multiple offers. Traditional sales of homes priced right and in good condition still make up the majority of the market. Is now the time for you to sell or buy? Waiting too long may cause you to say in the future: “You know, I could have …”

Donald Trump: “This is the time to start looking to buy, you’ll get a great deal.”

Donald Trump, internationally-acclaimed realty guru and multi-billionaire, said on Good Morning America radio August 13, “This is the time to go out and start looking and start buying. Over the course of the next year if you don’t do it you’re going to be very disappointed in the years to come. Now is the best time in years to purchase real estate…especially in the next 12 months to get the best deal.” – Good Morning America, interview with ABC’s Good Morning America, August 12, 2008 (For the whole interview, view online at http://abcnews.go.com/Video/playerIndex?id=5576708.)

We are seeing the rebound in full force in Northern Virginia and surrounding Capital area. Compared to August a year ago, pending sales are up 39% in Northern Virginia (Arlington, Alexandria, Fairfax County); and 52% in Fairfax County alone. In Prince William County pendings are up an astounding 155% (in Manassas, they are up more than 200%). Why?? The prices have hit the psychological barrier where buyers believe they aren’t going to drop any more. In addition, pent up demand over the last three years has built up to an overflow level.

Multiple offers are back and houses are selling close to or at asking price. A Weichert associate recently had 40 contracts on a property in Manassas – multiple offers are not unusual once again.

So what? If you’re looking to move up, purchase an investment property or help your children buy a home – now is the time. Home prices have leveled and are rising in some areas. Investment properties are once again producing positive monthly cash flow and young buyers can now purchase a house for less than what they would pay in rent.

Northern Virginia Turn Around Full Throttle!

Wow! I’ve never seen this kind of turnaround happen so quickly. In just a few months, we have gone from negative numbers in every category to double and triple positives all around Northern Virginia (just outside Washington, D.C.). Here’s what’s happening:

The foreclosure market has created a feeding frenzy for properties priced under $500,000. Nearly 36% of all homes on the market under $500K are foreclosure homes. Only 6% of listings over $500K have that distinction. Thus, prices have reached a psychological barrier point, which has brought out buyers in the thousands around the Capital area. (Stats available at http://www.mris.com/, click Market News.

The buyers are competing again for properties priced right and in good condition. It is not unusual with the foreclosure market to see 10 or 20 contracts competing. Many of the foreclosures need only cosmetic fixes and some have upgraded kitchens, baths and flooring. More are coming in the next month.

There are plenty of fixer uppers available for those willing to apply “sweat equity” to build wealth.

Prince William County is the county of affordable housing once again. I’m seeing more and more first time buyers back in the market, purchasing single-family homes starting in the $100,000’s. (These homes are also enticing for investors!)

Prices are now holding. If you are buying, more than likely you’ll be paying closer to asking price now than was possible just a few months ago. Buyers on average are paying 97% of list price.

So what? What does that mean to you? If you purchased your home in 2005 or earlier, then now is the time for your move up. Real estate is local and all the signs are lining up: shrinking inventory, increasing demand, holding prices, lower interest rates. Move up into that larger home (or your first home!) before the prices or interest rates make it out of reach!

Until next month…

It's a REAL Spring Market - Northern Virginia Real Estate

Days on market have dropped. My team members and I are hitting up against multiple offers on listings. Listings in the office are selling. Traffic at open houses are up by 40% in some communities. And the number of contracts written in our market are outpacing last year’s levels. What’s more important to home owners, we are seeing pocket markets that are starting to appreciate.

When looking at the last two springs, this spring market has really taken off. The market has turned around and it starts in the Capital city of Washington, D.C. and is moving out from there (as it has year after year). What’s more important is that the latest financing regulation changes have included the Washington, D.C. as a high-priced region. This means that conforming loan limits around your home will be at the highest level possible -- $729,750. Before this latest move, loan limits for conforming loans were at $417,000.

So what? What does that mean to you? If you’re looking to sell, it now means more buyers may have been brought into the level it would take to purchase it. In addition, it means better loan programs with lower interest rates – in essence, money just got cheaper.