Ritu Desai- Top Producer Realtor in Northern Virginia

Getting a windfall and using it to pay off the mortgage sounds like it should reduce the monthly amount owed, but often it doesn’t. Fixed-rate mortgage holders who pay off a big chunk of their mortgage are likely to shorten the payoff period, but the infusion of cash probably won’t reduce at all the amount they owe monthly. Holders ...

The best place to get a bargain on a home is an area where there is healthy job growth and more houses available than people to buy them. These are markets “where you have high inventories but pliable borrowers, with lenders willing to deal,” says Anthony Sanders, a professor of finance at Arizona State University. Forbes magazine ...

Realtytrac has calculates the average discount-to-value by market — that is, how much foreclosed homes actually sold for compared to their estimated market value in their areas.  Interesting fact is Virginia was ranked as one of 5 states with smallest discount.  This information can help a bargain hunter get the best ...

Summarized links you may need while filing your taxes!  Homeowner Tax Deductions Learn more from the IRS about tax deductions for first-time homebuyers. Tax Deductions Moving Expenses Find out which moving expenses are deductible and how to report them. Deductible Moving Expenses Selling Your Home Read about the tax rules that apply ...

Don't Make Any Major Purchases Do not make any major purchase that would create debt of any kind. This includes furniture, appliances, electronic equipment, jewelry, vacations, expensive weddings… …and automobiles, of course. Don’t Move Money Around When a lender reviews your loan package for approval, one of the things ...

You don't have to add a room. Simple things like windows and landscaping may give you more bang for your buck.  So you've decided not to trade up after all. Even more, you don't want to dump a lot of money into fixing up your house if its value -- and your equity -- are likely to be flat or even falling in the next few years. ...

Because of the change in real estate market conditions, more sellers are competing for fewer buyers. So once again, it seemed important to challenge a long-standing "myth" of real estate.  "The initial listing price isn't that important because the price can always be adjusted down later."  Many homeowners believe ...

With all the conflicting reports on housing prices and the direction of the market, you might ask: What's really going on out there? If, as the National Association of Realtors reported last month, the median price of an existing home nationwide fell by 3.1 percent in 2006, does that mean that your house lost value as well?  Read Article

We have heard various bubbles burst for past decade from stock, oil to real estate. Now the buzz word is lending industry and its mortgages. Banks and mortgage companies would sharply scale back lending to two groups: subprime and "Alt-A" borrowers. Consumers with low income and/or spotty credit histories are considered ...

When I received my tax bill I was not surprised that my primary resident assessment dropped significantly. My husband looked up to me and asked whether its a good news or bad news. With a pause I can understand its great news if you are not planning to sell your home but not exciting news if you are planning to sell.  According to Washington ...