Tag: Landlords

The Story Behind Your Mortgage

The Story Behind Your Mortgage

It’s a New Year! Here’s the inaugural post from our local expert among lenders. Peter Accolla, George Mason Mortgage, offers insight into what the New Year means for the mortgage market. You’ve likely heard about the recent rate hike. But Peter offers perspective on what this could mean for you in the near term and throughout 2016. Peter is an experienced lender whom my clients have trusted for the last 10 years. Welcome, Peter to The Story Behind the Home. I appreciate his experience and perspective as a very important part of your real estate story unfolds.

It’s a New Year of opportunities and changes. If you’re considering a sale or purchase, you may be wondering what to expect from the mortgage market going forward. The short answer is that the Federal Reserve (FED) pretty much has full control. A reality that begs the question “How quickly will the FED raise short term interest rates this year?”  The overall expectation is that short term rates (the Federal Funds rate) will be 1.5% by the end of 2016.  Currently, it is .5%.  This means that there is an expectation of a .25% increase each quarter of this year.  My opinion (and the opinion of many local loan officers and lenders in our area) is that if we see the FED hike the Federal Funds rate more quickly than expected–insinuating a stronger economy and the need to control inflation–we’ll see mortgage rates increase faster as well.  If we see a steady increase of the Federal Funds rate each quarter over the year, we’ll see our average 30 year fixed rate go from roughly 4% (where it is now) to somewhere around 4.5% by year end.

The effect on your purchase power, interest rate, and loan approval will vary according to a set group of criteria. I’ve provided my contact information below. If you’ll give me 15 minutes of your time or visit my website to provide responses to a few questions, I can show you what the new year in the mortgage market means for you. 

Let’s get started.

Best regards, Peter

Peter S. Accolla II
Branch Manager/Mortgage Banker George Mason Mortgage, LLC
(703) 259-0731 (O)
(703) 888-6889 (C)
(703) 653-3052 (F)

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Spring is Here!

Spring is Here!

Exterior_editedQuiet, spacious, two-levels with walk-in closets! Seller has done all money-saving upgrades:windows,HVAC,wood blinds,fresh paint, LL flooring, bath updates and more mean lower cost of ownership!

NEW PRICE!

BEST VALUE FOR FAIRLINGTON’S FAVORITE BARCROFT MODEL

WELCOME TO 3545 STAFFORD ST S #A2

SPECIAL FEATURES AND IMPROVEMENTS 
 

  • New Microwave 2007  
  • New Lighting in baths  2007
  • New Vanity in LL bath  2008
  • New LL Flooring  2008
  • New Oven/Range  2008
  • New Kitchen  (cabinets refaced, new floor, new sink,  new countertop)  2009
  • New Windows (triple pane windows main level)  2010
  • New Dryer  2011
  • New Trane HVAC system  2013
  • New Washer  2015
  • New Hot Water Heater  2015
  • New Garbage Disposal 2015

 

As an historical landmark that spans Arlington and a corner of the City of Alexandria, Fairlington is among buyers favorite community. It’s a wonderful location, beautifully maintained and one of the most reasonable condo fees around.

One of Fairlington’s favorite floor plans is this Barcroft. These condo homes offer generous rooms on two levels of living spaces plus a fully-fenced rear patio perfect for outdoor enjoyment or entertaining.

This particularly Barcroft is nestled in the back of the court in Fairlington’s south side. That means assigned parking, more green space, trees, and steps to shops, restaurants, and conveniences at Bradlee and Shops at Fairlington including Reunions, CVS Pharmacy, Cafe on Fern, Ramparts, Green Street Nursery, Great Harvest Bread Co., and Baskin-Robbins. Yes, you can walk to ice cream AND pizza! Keep reading…we haven’t even covered our favorite things about this wonderful home.

Tons of natural light pours through replacement windows that brighten the space. Wood floors and decorative touches welcome all who enter. A complete top-to-bottom kitchen renovation offers tons of counter and cabinet space for cooking and storage in style. Entertaining is easy with kitchen access to the backyard patio and pass through to the separate dining room. There’s a main level bedroom with great closet space, bright light, wood floors offer guests or roommates privacy and comfort including an updated full bath across the hallway.

Wonderfully separate and spacious is a lower level turned master suite retreat! A private back stairwell leads to the family room and recreation room updated in style and luxury. You’ll find warm designer paint, wood laminate floor at the base of the stairs. It’s a great exercise space, reading room, or added storage space including linens, closet space underneath the stairs as well. The possibilities are limitless. Adjacent, updated bath turns this entire level into a master suite retreat created by owner and utilized by current occupants.

Fairlington is a favorite community for its location, convenience, brick construction and slate roof composition. It’s one of the few condo communities in the area that connect Alexandria City to Arlington County with walkable amenities and attractions in between. Fairlington association fees are among the lowest in the area and among the few where you can truly witness the value of a full-service grounds maintenance, pools, courts, Community Center, sidewalks, dog park and more. Oh, and the commute?! Express Metro Bus and ART Bus at just about every corner. Minutes to I395, Old Town Alexandria, and Rte. 7!

It’s one of the best stories about many of our favorite things about the story behind the home. This beautiful Barcroft ranks among the best properties available with a functional floor plan, highly desirable building,and community location. Seller is serious. Put this one at the top of your favorites list. You won’t be disappointed.Top of Your List

#ABuyerStory #YourStoryStartsHere #StoryBehindtheHome #AnInvestorStory #FairlingtonFavorite #Backyard #LowCondoFee #LotsofAmenities #WalktoEverything #YourHomeStory #RealtorKristinMango YourStoryStartsHere