Yes, Mortgage Money Is Still Available
October 20th, 2008 Categories: Mortgage Update, Real Estate News
In the recent turmoil around bank failures, government relief packages and an extraordinarily erratic stock market, the words”tight credit” have been a regular part of media coverage. Unfortunately many potential buyers have assumed that those two dreaded words applied to them. Not so! Mortgage money is still available.
Our colleague, Rob Clark at Preferred Mortgage, offers this encouraging news:
1) Mortgage product is widely available. Preferred has sold loans to 21 different state and national investors and brokered loans to dozens of others.
2) Borrowers can still qualify for a loan. It is absolutely true that today’s underwriting standards are stricter than those of the recent past - a very good thing for the mortgage industry. Borrowers are now required to document their income, their assets, and prove that they are credit worthy. Old fashioned? Maybe. Prudent? Absolutely. A borrower with proper documentation and the appropriate income to loan ration will have no problem obtaining a loan.
3) Preferred Service Mortgage was never a major player in the sub-prime market. In 2005, at the height of the subprime frenzy, Preferred Service did just 3.5% loan volume in this category. This means Preferred is in an excellent position to take on the long anticipated upswing in the housing market.
Questions? Feel free to contact me at 703.548.0938 or Rob at 703.518.2814. We’re ready when you are.
Michael
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12th Annual Del Ray Halloween Parade - Don’t Miss It!
October 19th, 2008 Categories: Del Ray
At the beginning of the month we wrote about five great reasons to visit Del Ray in October and the Del Ray Halloween Parade was right at the top of the list. Scheduled for Sunday, Oct. 26th, the 12th annual parade will begin at 2:00pm and children, pets, and strollers in costumes are invited to march.
The parade route begins at Mt. Vernon Avenue, south of E. Bellefonte, and continues to the Mt. Vernon Rec Center.
Awards will be given for:
- Best Pet Costume
- Best Decorated Business
- Best Decorated Home
- Best Decorated Stroller
The awards ‘ceremony’ will take place on the play fields at the Mt. Vernon Rec Center and will be followed by entertainment, games and refreshments. All activities are free.
At 6:30pm families can enjoy a ‘haunted graveyard‘ designed and constructed by Bean Creative at Mt. Vernon and E. Del Ray Avenue. This is just the second year for the graveyard but by all reports it was a howling success . . .
For the fifth year residents will collect and distribute Halloween costumes for children who would otherwise have to go without. Donated costumes are being collected at the Caboose Cafe, 2419 Mt. Vernon Avenue and A Show of Hands at 2204 Mt. Vernon Avenue and will be distributed on Saturday October 25, from 2-4:00pm at the Mt. Vernon Recreation Center.
For more information about registration contact: Gayle Reuter at 703.684.3535 or gayle.reuter@mail.house.gov.
Michael
P.S. Be sure and check back next Monday for pictures of this very special Del Ray event . . .
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Alexandria’s Very Own Pumpkin Patch is A Community Tradition at Immanuel Church-on-the-Hill
October 18th, 2008 Categories: Alexandria
Just like Charlie Brown, Alexandria has its very own Pumpkin Patch. Located on the grounds of Immanuel Church-On-The-Hill at the corner of Quaker and Seminary Lanes, the annual sale of 10,000 pumpkins is a community tradition.
Just the right size for small hands
Now in its 15th year, the sale benefits local charities like the Network Preschool, ALIVE!, Carpenters Shelter, and Community Lodgings as well as others. The sale also benefits the Navajo Indian tribes in the northern regions of New Mexico, who raise the pumpkins on irrigated tribal lands, by creating some 300 jobs.
Endless variety
Last year the church netted more than $35,000 for charity with absolutely zero dollars going back into the church budget. How do they do it? Wendy John, pumpkin wrangler extraordinaire, credits enthusiastic community support and the involvement of church members young and old for making this event both fun and profitable.
Wendy and Doug John
A satisfied customer
But wait, pumpkins aren’t the only thing available. Decorative gourds, gourd birdhouses, Indian corn, and autumn crafts add to the bounty. My favorite though? Homemade soup and apple crisp!
Pumpkins are on sale now through October 31 from 10:00am to 8:00pm daily and range in price from $1 to $25.
For additional information call 703.370.6555.
I’m going back tomorrow to stock up - see you there?
Michael
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