What's the difference between a Appraisal and a Home Inspection? Real Estate news-Diedre Wollard
I thought that this article had some really great information.
When you are getting ready to sell your home, dealing with inspections and appraisals is part of the process. Your home is now a product that is being sold and needs to be evaluated. Many people think that appraisals and inspections are essentially the same thing but there are some key differences. If you’ve ever watched “Antiques Roadshow” on PBS, you’re already familiar with the concept of an appraisal on personal property. The idea is similar in the realm of real estate valuations. Each property is unique, and the appraiser relies on his or her general expertise and specific research to arrive at an opinion of value.
An appraisal provides valuable information for the buyer and the seller, but the appraiser’s primary mission is to protect the lender. Lenders don’t want to own overpriced property and that’s why the appraisal takes place before the lender grants final approval of the buyer’s loan.
The Appraisal Process
Appraisers use a variety of factors in their decision making. They weigh the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of comparable properties, among other factors. Appraisers aren’t interested in whether or not the house is clean but they do notice signs of neglect such as cracked walls, chipped paint, broken windows, torn carpets, damaging flooring and inoperable appliances.
Federal law requires states to establish minimum standards and licensing practices for real estate appraisers. In California, for example, trainees must take several courses, pass an examination and complete 2,000 hours of supervised experience.
If the buyer is applying for a mortgage that will be insured by the Federal Housing Administration (FHA), the appraiser must survey the physical condition of the home and disclose potential problems to the buyer. No such obligation exists for non-FHA mortgages.
If a home receives an appraisal lower than the purchase price there are some ways the purchase can still go through. The seller can reduce the purchase price, the buyer could make a bigger down-payment, or if it’s a question of needed repairs, a separate escrow account can be set up to fund those repairs.
How Is An Appraisal Different From An Inspection?
An appraisal isn’t a substitute for a professional home inspection in fact they have some key differences. The appraiser formulates an opinion of the property’s value for the lender, while the inspector educates the buyer about the condition of the home and its major components. The appraiser is primarily focused on the value of the home whereas the inspector keys in on the home’s condition with an eye toward both existing and potential future problems.
Friday, May 10, 2013
Friday, May 3, 2013
Ready for your new home? How much house can you afford?
I came across an interesting article written by Terence Loose-Yahoo! Homes. He has some really great tips that I thought I could share.
Tip #1: Calculate Your Debt-to-Income Ratio to Make an Educated Estimate
Are you awash in credit card, auto, and personal loan debt, or are you debt-free? It's likely you're somewhere in between. But whatever your financial situation might be, your debt-to-income ratio will be an important factor in determining how much house you can afford.
What is a debt-to-income ratio? Simply, it's how much your total monthly debt is in relation to your gross monthly income. Now let's get into some details.
"Things that are included in the debt-to-income ratio for most people are anything that shows up on your credit report, such as student loan payments, credit card payments, car notes. Also, the mortgage you plan to get will be factored in," says Duffy. He also notes that alimony and child support count as well. Things like groceries, life insurance, and tennis lessons, however, don't count.
So when it comes to deciding how much home - or mortgage - you can afford, your total debt-to-income ratio, including the predicted mortgage payment, should not exceed 40 percent (this threshold can vary from lender to lender).
To fully illustrate this, here's an example. Let's say you and your significant other earn a household income of $8,000 per month. Forty percent of $8,000 is $3,200. So your debt, including your mortgage, should not exceed this amount if you want to qualify for said mortgage. From there, you can figure out how much house you can afford…or at least move onto the next section.
Tip #2: Check Your Credit Score to Predict Your Interest Rate and Monthly Payments
Let's say you figured out your debt-to-income ratio and determined that you can afford a $300,000 loan. That's great, but you'll also have to figure out what your credit score is. If it’s on the lower end, you may be paying more in monthly payments than you imagined.
Tip #3: Factor in Your Private Mortgage Insurance
Private mortgage insurance. It just sounds expensive, doesn't it? And unfortunately, if your down payment is not large enough, private mortgage insurance can be costly and shrink the amount of house you can afford.
First, what it is: Private mortgage insurance, or PMI as it is commonly referred to, is an insurance that protects the lender against you defaulting on your mortgage, according to "A consumer's guide to mortgage refinancings" published by the Financial Reserve Board (FRB). The FRB says lenders usually make you pay PMI when your down payment is below 20 percent.
According to the FRB, the estimated cost of PMI is about $50 to $100 per month. However, Duffy says it can be substantially more since the formula for figuring PMI varies with everything from loan size to loan type, and even how little of a down payment you make. So it can range anywhere from .5 percent of the mortgage amount to 1.5 percent of the mortgage amount - per month.
Let's be conservative and say it's .75 percent on a $375,000 fixed-rate mortgage. That comes out to $234.37 per month tacked onto your monthly payment. And yes, PMI counts toward your debt-to-income ratio.
The good news, however, is that PMI is not permanent. According to the FRB, once you pay down your loan enough to achieve 20 percent equity in your home (based on the original appraised value), you can simply write a letter to your lender asking for them to cancel the PMI. That's probably the best letter to a bank you'll ever write.
Tip #4: Add in Your Homeowner's Insurance and Property Tax Expenses
We know - more insurance. And taxes are kind of a bummer, too. But it's certainly best to plan for them now rather than calculating them during a bout of stress-induced insomnia.
First, let's talk about homeowner's insurance. According to the FRB, your mortgage lender will require you to carry this insurance. It protects you against physical damage to the house by fire, wind, vandalism, and other causes.
As for the cost of home insurance, the FRB estimates a cost of $3.50 per $1,000 of your home's purchase price. So, for a $375,000 home, it would be about $1,312 annually. Divide that by 12 months - because Duffy says that often this cost is added to your monthly mortgage payment - and it comes to about $109 per month.
Now on to your property taxes. These of course vary widely depending on not only the assessed value of your home, but also the county your home is in, says Duffy. The national average is 1.14 percent of the home's value, according to 2010 figures from the Tax Foundation, a non-partisan tax research group based in Washington, D.C. Their data shows that this can vary anywhere from .27 percent (Hawaii) to 2.01 percent (New Jersey).
So let's use the average of 1.14 percent to see what this might mean for your housing budget. On our $375,000 home, that's $4,275 per year, or about $356 per month.
Based on this example, that's an extra $465 you'll have to add to your monthly mortgage payment for homeowner's insurance and property taxes alone.
Tip #1: Calculate Your Debt-to-Income Ratio to Make an Educated Estimate
Are you awash in credit card, auto, and personal loan debt, or are you debt-free? It's likely you're somewhere in between. But whatever your financial situation might be, your debt-to-income ratio will be an important factor in determining how much house you can afford.
What is a debt-to-income ratio? Simply, it's how much your total monthly debt is in relation to your gross monthly income. Now let's get into some details.
"Things that are included in the debt-to-income ratio for most people are anything that shows up on your credit report, such as student loan payments, credit card payments, car notes. Also, the mortgage you plan to get will be factored in," says Duffy. He also notes that alimony and child support count as well. Things like groceries, life insurance, and tennis lessons, however, don't count.
So when it comes to deciding how much home - or mortgage - you can afford, your total debt-to-income ratio, including the predicted mortgage payment, should not exceed 40 percent (this threshold can vary from lender to lender).
To fully illustrate this, here's an example. Let's say you and your significant other earn a household income of $8,000 per month. Forty percent of $8,000 is $3,200. So your debt, including your mortgage, should not exceed this amount if you want to qualify for said mortgage. From there, you can figure out how much house you can afford…or at least move onto the next section.
Tip #2: Check Your Credit Score to Predict Your Interest Rate and Monthly Payments
Let's say you figured out your debt-to-income ratio and determined that you can afford a $300,000 loan. That's great, but you'll also have to figure out what your credit score is. If it’s on the lower end, you may be paying more in monthly payments than you imagined.
Tip #3: Factor in Your Private Mortgage Insurance
Private mortgage insurance. It just sounds expensive, doesn't it? And unfortunately, if your down payment is not large enough, private mortgage insurance can be costly and shrink the amount of house you can afford.
First, what it is: Private mortgage insurance, or PMI as it is commonly referred to, is an insurance that protects the lender against you defaulting on your mortgage, according to "A consumer's guide to mortgage refinancings" published by the Financial Reserve Board (FRB). The FRB says lenders usually make you pay PMI when your down payment is below 20 percent.
According to the FRB, the estimated cost of PMI is about $50 to $100 per month. However, Duffy says it can be substantially more since the formula for figuring PMI varies with everything from loan size to loan type, and even how little of a down payment you make. So it can range anywhere from .5 percent of the mortgage amount to 1.5 percent of the mortgage amount - per month.
Let's be conservative and say it's .75 percent on a $375,000 fixed-rate mortgage. That comes out to $234.37 per month tacked onto your monthly payment. And yes, PMI counts toward your debt-to-income ratio.
The good news, however, is that PMI is not permanent. According to the FRB, once you pay down your loan enough to achieve 20 percent equity in your home (based on the original appraised value), you can simply write a letter to your lender asking for them to cancel the PMI. That's probably the best letter to a bank you'll ever write.
Tip #4: Add in Your Homeowner's Insurance and Property Tax Expenses
We know - more insurance. And taxes are kind of a bummer, too. But it's certainly best to plan for them now rather than calculating them during a bout of stress-induced insomnia.
First, let's talk about homeowner's insurance. According to the FRB, your mortgage lender will require you to carry this insurance. It protects you against physical damage to the house by fire, wind, vandalism, and other causes.
As for the cost of home insurance, the FRB estimates a cost of $3.50 per $1,000 of your home's purchase price. So, for a $375,000 home, it would be about $1,312 annually. Divide that by 12 months - because Duffy says that often this cost is added to your monthly mortgage payment - and it comes to about $109 per month.
Now on to your property taxes. These of course vary widely depending on not only the assessed value of your home, but also the county your home is in, says Duffy. The national average is 1.14 percent of the home's value, according to 2010 figures from the Tax Foundation, a non-partisan tax research group based in Washington, D.C. Their data shows that this can vary anywhere from .27 percent (Hawaii) to 2.01 percent (New Jersey).
So let's use the average of 1.14 percent to see what this might mean for your housing budget. On our $375,000 home, that's $4,275 per year, or about $356 per month.
Based on this example, that's an extra $465 you'll have to add to your monthly mortgage payment for homeowner's insurance and property taxes alone.
Friday, April 19, 2013
Arlington continues to grow by leaps and bounds and is a great melting pot of nationalities, we also have the developemnt and growth to go along with that and here is some exciting news that I just read about from UrbanTurf.com that I thought was great news!
The Columbia Pike corridor continues to grow.
Construction is about to start on a condo and townhome project on Walter Reed Drive, a block from the rapidly developing Pike, reported ARLnow late Monday.
Columbia Place, developed by Evergreene Homes, will contain 14 two-bedroom, 1,283-square foot condos and eight single-family townhomes and will be located at the corner of Walter Reed Drive and 11th Street S. in Arlington (map). The condo portion of the building will rise five stories, while the townhomes will each be four stories tall with rooftop terraces. Ground floor retail will activate the street level.
Friday, April 12, 2013
Mortgage Rates are dropping! The facts to support this enclosed!
Here are some interesting facts taken from the website Urbanturf.com. I though thought it was interesting and wanted to share it with everyone
After staying above 3.5 percent for several months, long-term mortgage rates dropped below that benchmark this week.
On Thursday, Freddie Mac reported 3.43 percent with an average 0.8 point as the average on a 30-year fixed-rate mortgage. Last week, rates averaged 3.54 percent. Rates have more or less been on an upward trajectory since hitting a record low of 3.31 percent in November.
From Freddie Mac vice president and chief economist Frank Nothaft:
Mortgage rates fell further this week following a lackluster employment report for March. The economy added just 88,000 net new jobs last month, about one-third as many as February and the fewest since June 2012. In addition, approximately 496,000 people left the workforce causing the unemployment rate to fall to 7.6 percent.
Here's one from Realtor.com
Mortgage rates saw a decline for the second consecutive week, according to the latest survey by mortgage buyer Freddie Mac. Loan rates fell once again as response to weak unemployment data reported by the Labor Department last week and continue to move closer to historic lows.
The average rate for a 30-year fixed loan saw a considerable dip, falling to 3.43% from 3.54% last week. If the current trend continues, loans may come close to the record low reach in November, 3.31%, which represented the lowest average rate on record dating back to 1971.
The low rates have helped keep home-buying and refinancing desirable as the market continues its slow recovery, notes mortgage expert Al Bowman:
If we see an increase in spending, the bond market will likely fall and mortgage rates will rise as it would indicate consumers are spending more than thought, fueling economic growth. However, a weaker than expected reading could push bond prices higher and mortgage rates lower, especially if the PPI gives us favorable results also.
In addition to falling 30-year fixed loans, the average rate on a 15-year fixed mortgage is also creeping towards the record low. Listed at 2.74% a week ago, 15-year fixed rates fell to 2.65%, which is a touch above the record low achieved in November, 2.63%.
Hybrid adjustable-rate mortgages also saw a slight decline. The average rate on a 5-year ARM fell from 2.65% to 2.62% this week, while the rate on a one-year ARM dipped ever-so-slightly to 2.62%, down .01% from a week ago.
Of the panelists polled by Bankrate.com in their weekly Mortgage Rate Trend Index, 33% believe that mortgage rates will rise in the coming week, while 66% believe that rates will remain unchanged. “Unchanged until the next international crisis or whatev,” says Bankrate.com assistant managing editor Holden Lewis. “Lately, mortgage rates seem captive to international events, which are unpredictable.”
After staying above 3.5 percent for several months, long-term mortgage rates dropped below that benchmark this week.
On Thursday, Freddie Mac reported 3.43 percent with an average 0.8 point as the average on a 30-year fixed-rate mortgage. Last week, rates averaged 3.54 percent. Rates have more or less been on an upward trajectory since hitting a record low of 3.31 percent in November.
From Freddie Mac vice president and chief economist Frank Nothaft:
Mortgage rates fell further this week following a lackluster employment report for March. The economy added just 88,000 net new jobs last month, about one-third as many as February and the fewest since June 2012. In addition, approximately 496,000 people left the workforce causing the unemployment rate to fall to 7.6 percent.
Here's one from Realtor.com
Mortgage rates saw a decline for the second consecutive week, according to the latest survey by mortgage buyer Freddie Mac. Loan rates fell once again as response to weak unemployment data reported by the Labor Department last week and continue to move closer to historic lows.
The average rate for a 30-year fixed loan saw a considerable dip, falling to 3.43% from 3.54% last week. If the current trend continues, loans may come close to the record low reach in November, 3.31%, which represented the lowest average rate on record dating back to 1971.
The low rates have helped keep home-buying and refinancing desirable as the market continues its slow recovery, notes mortgage expert Al Bowman:
If we see an increase in spending, the bond market will likely fall and mortgage rates will rise as it would indicate consumers are spending more than thought, fueling economic growth. However, a weaker than expected reading could push bond prices higher and mortgage rates lower, especially if the PPI gives us favorable results also.
In addition to falling 30-year fixed loans, the average rate on a 15-year fixed mortgage is also creeping towards the record low. Listed at 2.74% a week ago, 15-year fixed rates fell to 2.65%, which is a touch above the record low achieved in November, 2.63%.
Hybrid adjustable-rate mortgages also saw a slight decline. The average rate on a 5-year ARM fell from 2.65% to 2.62% this week, while the rate on a one-year ARM dipped ever-so-slightly to 2.62%, down .01% from a week ago.
Of the panelists polled by Bankrate.com in their weekly Mortgage Rate Trend Index, 33% believe that mortgage rates will rise in the coming week, while 66% believe that rates will remain unchanged. “Unchanged until the next international crisis or whatev,” says Bankrate.com assistant managing editor Holden Lewis. “Lately, mortgage rates seem captive to international events, which are unpredictable.”
Friday, April 5, 2013
Cherry Blossom 2013
The DC Cherry Blossom Festival is in full swing and the weather should be great this weekend for the family to take a tour. Here is some info to get you started on your way!
March 20th-April 14th, 2013 ENJOY YOUR WEEKEND!
NATIONAL CHERRY BLOSSOM FESTIVAL® HEADQUARTERS
AT UNION STATION
Thursday, March 14 – Sunday, April 14, 2013
Mondays – Fridays 10 AM – 8 PM;
Saturdays 9 AM – 7 PM; Sundays 10 AM – 6 PM
TIDAL BASIN WELCOME CENTER– Paddle Boat Parking Lot
March 23 – April 14; Open Daily, 10 AM – 7 PM
1501 Maine Avenue, SW
DC VISITOR INFORMATION CENTER
Mondays – Fridays, 8:30 AM – 5:30 PM
Walter E. Washington Convention Center, 801 Mount Vernon Place, NW (202.789.7000)
VISIT FAIRFAX! INFORMATION CENTER
Mondays – Fridays, 10 AM – 6 PM; Sundays, 11 AM – 6 PM
1961 Chain Bridge Road, McLean, VA 22102 (703.752.9500)
March 20th-April 14th, 2013 ENJOY YOUR WEEKEND!
NATIONAL CHERRY BLOSSOM FESTIVAL® HEADQUARTERS
AT UNION STATION
Thursday, March 14 – Sunday, April 14, 2013
Mondays – Fridays 10 AM – 8 PM;
Saturdays 9 AM – 7 PM; Sundays 10 AM – 6 PM
TIDAL BASIN WELCOME CENTER– Paddle Boat Parking Lot
March 23 – April 14; Open Daily, 10 AM – 7 PM
1501 Maine Avenue, SW
DC VISITOR INFORMATION CENTER
Mondays – Fridays, 8:30 AM – 5:30 PM
Walter E. Washington Convention Center, 801 Mount Vernon Place, NW (202.789.7000)
VISIT FAIRFAX! INFORMATION CENTER
Mondays – Fridays, 10 AM – 6 PM; Sundays, 11 AM – 6 PM
1961 Chain Bridge Road, McLean, VA 22102 (703.752.9500)
Friday, March 22, 2013
Northern Virginia Real Estate Spring Market
Just some information that I thought would be useful to anyone in the market to buy or sell this time of year from Realtor.com
Realtor.com’s February 2013 national housing data indicates that listing inventories increased 1.15 percent month-over-month; median age of inventory was at 98 days, a 9.26 percent decrease month-over-month; and median list prices were slightly higher month-over-month at $189,900. These numbers show that home buyers are getting an early start on the spring season despite the fact that inventories recently hit record lows.
The median age of inventory was down by 9.26 percent month over month and total listings are up 1.15 percent month over month, suggesting that many reluctant home sellers are starting to take an early advantage of the recent improvements in housing prices. Annual inventory decreases of -15.97 percent are consistent with a gradual, yet persistent downward trend that has been occurring over the last two years. From January 2013 to February 2013, the median age of inventory decreased in 145 of the 146 markets tracked by realtor.com. The national median list price also reversed its downward trend, rising by 1.55 percent over the month of February and 1.01 percent on an annual basis. In addition, the number of markets experiencing a decline in home prices is shrinking, implying more good news for the housing market and U.S. economy at large.
There continue to be pronounced regional differences in the strength of the housing market. Several areas in California are experiencing the highest increases in list prices coupled with the largest inventory declines. Phoenix, Seattle and Denver are also among the top performers across the U.S. However, many smaller industrialized markets in the Midwest and the Northeast registered year-over-year price declines, as did Philadelphia, Chicago and New York City. While the number of markets experiencing year-over-year list price declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.
National Data
• In February, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,494,218) increased by 1.15 percent month-over-month. On an annual basis, however, inventory was down by 15.97 percent.
• The national median list price for single-family homes, condos, townhomes and co-ops ($189,900) increased by 1.01 percent year-over-year and 1.55 percent month-over-month in February.
• The median age of inventory of for sale listings fell to 98 days in February, down 9.26 percent from January and 11.71 percent below the median age one year ago (February 2012).
Here is some information that is on the Local side from UrbanTurf.com
Local data
Despite rising home prices, it is still cheaper to buy than to rent in DC (along with the 100 largest metros in the country), according to a report published today by Trulia.
In the DC area, buying is 41 percent cheaper than renting, while in the country as a whole, buying is 44 percent cheaper than renting. Last year, according to Trulia, buying was 46 percent cheaper than renting. But this advantage could close up next year, Trulia predicts: with prices rising faster than rents and mortgage rates moving up, the gap should narrow sharply by next year.
“Mortgage rates are likely to rise in the next year as the economy improves, even though they fell in the past year,” said Trulia’s Chief Economist Jed Kolko. “The consensus among macroeconomic forecasters is for 10-year Treasury bonds –which 30-year fixed-rate mortgages track pretty closely – to rise 6 or 7 tenths of a point over the next year. This translates roughly into a 7-9% higher monthly payment for a given mortgage.”
To determine their numbers, Trulia’s team compared the average rent and for-sale prices of an identical set of properties in each city. They considered the monthly costs associated with buying and renting and factored in one-time costs like downpayments and security deposits.
Trulia assumed that owners will have a 3.5 percent mortgage rate on a 30-year mortgage and will stay in their homes for seven years. However, they also created an interactive map to see how the numbers work with different assumptions. For example, if someone in the DC-area has 4.5 percent interest rate on their mortgage and plans on staying in their home for five years, buying is 26 percent cheaper than renting. With plans to move after three years, the advantage drops to five percent.
Realtor.com’s February 2013 national housing data indicates that listing inventories increased 1.15 percent month-over-month; median age of inventory was at 98 days, a 9.26 percent decrease month-over-month; and median list prices were slightly higher month-over-month at $189,900. These numbers show that home buyers are getting an early start on the spring season despite the fact that inventories recently hit record lows.
The median age of inventory was down by 9.26 percent month over month and total listings are up 1.15 percent month over month, suggesting that many reluctant home sellers are starting to take an early advantage of the recent improvements in housing prices. Annual inventory decreases of -15.97 percent are consistent with a gradual, yet persistent downward trend that has been occurring over the last two years. From January 2013 to February 2013, the median age of inventory decreased in 145 of the 146 markets tracked by realtor.com. The national median list price also reversed its downward trend, rising by 1.55 percent over the month of February and 1.01 percent on an annual basis. In addition, the number of markets experiencing a decline in home prices is shrinking, implying more good news for the housing market and U.S. economy at large.
There continue to be pronounced regional differences in the strength of the housing market. Several areas in California are experiencing the highest increases in list prices coupled with the largest inventory declines. Phoenix, Seattle and Denver are also among the top performers across the U.S. However, many smaller industrialized markets in the Midwest and the Northeast registered year-over-year price declines, as did Philadelphia, Chicago and New York City. While the number of markets experiencing year-over-year list price declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.
National Data
• In February, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,494,218) increased by 1.15 percent month-over-month. On an annual basis, however, inventory was down by 15.97 percent.
• The national median list price for single-family homes, condos, townhomes and co-ops ($189,900) increased by 1.01 percent year-over-year and 1.55 percent month-over-month in February.
• The median age of inventory of for sale listings fell to 98 days in February, down 9.26 percent from January and 11.71 percent below the median age one year ago (February 2012).
Here is some information that is on the Local side from UrbanTurf.com
Local data
Despite rising home prices, it is still cheaper to buy than to rent in DC (along with the 100 largest metros in the country), according to a report published today by Trulia.
In the DC area, buying is 41 percent cheaper than renting, while in the country as a whole, buying is 44 percent cheaper than renting. Last year, according to Trulia, buying was 46 percent cheaper than renting. But this advantage could close up next year, Trulia predicts: with prices rising faster than rents and mortgage rates moving up, the gap should narrow sharply by next year.
“Mortgage rates are likely to rise in the next year as the economy improves, even though they fell in the past year,” said Trulia’s Chief Economist Jed Kolko. “The consensus among macroeconomic forecasters is for 10-year Treasury bonds –which 30-year fixed-rate mortgages track pretty closely – to rise 6 or 7 tenths of a point over the next year. This translates roughly into a 7-9% higher monthly payment for a given mortgage.”
To determine their numbers, Trulia’s team compared the average rent and for-sale prices of an identical set of properties in each city. They considered the monthly costs associated with buying and renting and factored in one-time costs like downpayments and security deposits.
Trulia assumed that owners will have a 3.5 percent mortgage rate on a 30-year mortgage and will stay in their homes for seven years. However, they also created an interactive map to see how the numbers work with different assumptions. For example, if someone in the DC-area has 4.5 percent interest rate on their mortgage and plans on staying in their home for five years, buying is 26 percent cheaper than renting. With plans to move after three years, the advantage drops to five percent.
Wednesday, August 15, 2012
Back to School events
The approaching end of the summer season signals the time to start preparing for school. If you missed the 3-day school supply sales tax holiday that ran from August 2-4 in Virginia, there are still some local businesses where you can buy cheap school supplies in time for class. Maryland will also be having their tax free events from August 12-18.
Staples- is the most straight-forward; since desk supplies are what they specialize in, you’re sure to find what you need there, and they are currently running great sales on some of the most popular school items. There are over 15 Staples locations within 10 miles of Arlington.
Target- is where you can find some of the most colorful, fashionable school supplies, and the advantage of shopping here is that they also supply private school uniforms. You can print coupons for school supplies and back to school clothes directly from Target.com There are 6 locations in the Arlington area.
Wal-Mart- is generally where you will be able to find the most affordable supplies and clothes. Their website is great for back to school shopping, organized by grade and category, and you can even find checklists to make the process easier. This is a fantastic place to go especially if you are getting ready to send a kid off to college for the first time, since they have such a wide selection of basics for such low prices. There are three locations within 10 miles of Arlington.
Staples- is the most straight-forward; since desk supplies are what they specialize in, you’re sure to find what you need there, and they are currently running great sales on some of the most popular school items. There are over 15 Staples locations within 10 miles of Arlington.
Target- is where you can find some of the most colorful, fashionable school supplies, and the advantage of shopping here is that they also supply private school uniforms. You can print coupons for school supplies and back to school clothes directly from Target.com There are 6 locations in the Arlington area.
Wal-Mart- is generally where you will be able to find the most affordable supplies and clothes. Their website is great for back to school shopping, organized by grade and category, and you can even find checklists to make the process easier. This is a fantastic place to go especially if you are getting ready to send a kid off to college for the first time, since they have such a wide selection of basics for such low prices. There are three locations within 10 miles of Arlington.
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