Real Estate Information

Go to this link to read all about it!

http://rismedia.com/2009-08-20/housing-affordability-continues-to-hover-near-highest-level-in-18-years/

Ugh, it's taking a longer time to close! Effective, July 30th, Lenders must give good faith estimates of mortgage loan by 3 business days after loan application. They can't collect any fees before they provide that estimate, except for a credit report. Then, there's a 7-day waiting period before the sale can close. And if the loan's APR changes by more than 0.125%, the lender must correct the disclosure, get it signed by the borrower, and wait 3 more business days before closing. Moral of the story-go to a good Lender and make full loan application before purchasing a home.

News Flash:Passed by House and being debated in U.S. Senate. For consumer protectionism, Good Faith Estimates are to be made part of Settlement Statements. For discrepancies at closing, there is nothing to protect the Seller from a Buyer who refuses to close because of a discrepancy or a Buyer who by terms of our contract, has their financing contingency removed the day of closing, and will be in default if they do not close even if their Lender will not make a correction. In fact, there does not seem to be any teeth against a disreputable Lender. So, where's the beef?

I was priviledged to hear Jim Gillespie head of Coldwell Bankers speak at the Star Power Conference that I recently attended in Colorado. He wants us all to call our Congressmen and push for a $15000 tax credit for all home buyers. He has concluded that from each home sale, $63,000 goes back into the economy. True, a small part of this comes from Realtors commissions and Lender fees, but a large part is from money spent by the new home owner fixing up their new home and from all the jobs created and revenue made from the construction of new homes. What he says makes sense. So let's help Main Street not Wall Street. Call your Representatives and Senators today.

Star Power Conference rocked in Denver. Attended by 1200 of the country's top realtors, loved listening to Earl Lee, CEO of Prucential, Gary Keller, CEO Keller Williams, Jim Gillespie, CEO of Coldwell Bankers, and my Realtor friend and personal favorite, Allan Domb.

Boy did I learn alot at my real estate conference in Colorado. Here is me with three of my friends. Barbara Halrey of Miami, Dave Crockett of Cleveland, and Beth Oliver of Austin Texas.

Yum! Yum!The Carol Greco Group treated the Fairfax Station Swim Team members and their families on Saturday to Rita's Italian Ice at the annual awards banquet. Partner Carrie Shokraei is a member of the pool and her daughter Sophia is a first-year swimmer. "The Italian Ice was a hit, several kids and adults came back for seconds and thirds," Carrie said. Carrie and Greco Group team member Michelle Perl served up nearly 300 cups Cotton Candy, Lemonade and Strawberry ice. "We love giving back to the community, especially one that has been so good to us over the years," Carol said. It was so much fun we hope to make it an annual event.

I told my daughter and son-in-law that I was putting in an order for a grandchild but I didn't mean this even though Morgan is adorable.

My partner Carrie and I hosted a goodbye party for our wonderful clients Burt and Cathy Quist who allowed us to sell their gorgeous Annandale home. We also welcomed the new owner, Jocelyn Wilks. Lots of neighbors came and a good time was had by one and all! Boy my job can sure be fun!

Open This Sunday, June 28th from 2-4 PM!

5116 Woodland Way, Annandale, VA 22003

10066 Maclura Court, Fairfax, VA 22032

4301 Gifford Pinchot Drive, Annandale, VA 22003

Carol and her husband Phil are most happy to announce the first birthday of their grandson Giulio. The proud production managers and creator of this event were Guilio's dad Eric and his mother, Carmen. For the gala, Giulio was handed the keys to a Diner. Other celebrants included Roxie the dog! Stop by the diner anytime for a cookie! Life can be soooo sweet!