Northern Viginia Real Estate Blog by Donny and Meredith Samson: Virginia: McLean

Hi All, 
Here is a great article concerning recent financial market news. Hoping this will help keep you informed!

NEW YORK, Sept 19 (Reuters) - Interest rates on 30-year fixed-rate mortgages climbed on Friday as a result of news of a sweeping U.S. government plan to contain the credit crisis.

The 30-year fixed-rate mortgage rose to near 6.25 percent on Friday versus 6.16 percent on Thursday and 5.875 percent on Tuesday when the global credit crises was in full swing, according to Greg McBride, senior financial analyst at Bankrate, Inc, in North Palm Beach, Florida.

"The revelation that the Treasury plans to take certain debt off the books of financial institutions helped push mortgage rates higher," he said. "Mortgage rates, however, are still low enough and are not a barrier to affordability."

Global stocks soared and bonds fell as news of a U.S. plan to buy illiquid bank assets and guarantee money market funds, combined with a U.K. and U.S. ban on short-selling financial stocks, raised hopes for an end to the year-long global credit crunch.

U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke intend to work through the weekend on a plan to deal with mortgage-related assets that are choking the financial system.

Treasury yields, which move inversely to price, are linked to mortgage rates. Treasury yields surged higher on the government's plan.

"Mortgage rates are not the issue, so if you are in the market to buy a house it may be a good time," said McBride. (Reporting by Julie Haviv; Editing by Dan Grebler)

According to a recent poll on how consumers intend to spend their stimulus checks, 19% of consumers plan on using their economic stimulus check for a special purchase, and 23% plan to use their check for everyday expenses. The rest...well, 36% say they will pay down debt and 22% say they will put it into savings. But will the check burn a hole through their pockets?

Maybe so, particularly with the "stimulus check" specials that many retailers have come up with, offering bonuses and incentives for people who spend their "stimulus" dollars with them. Here are some examples, in case you want to take advantage of any offers:

Sears. If you use your stimulus check to purchase a gift card, you receive an additional gift card worth 10% of your check's value. This offer is also good at Kmart and Lands' End.

Kroger. Between now and July 31, 2008, you can exchange your tax refund or economic stimulus check for a Kroger gift card with an extra $30.00 (for $300.00 checks), $60.00 (for $600.00 checks) or $120.00 (for $1,200.00 checks) added to it. The program is available throughout Kroger stores nationwide - including Kroger, Baker's, City Market, Dillons, Fred Meyer, Fry's, Gerbes, Hilander, Jay C, King Soopers, Owen's, Pay Less, Ralphs, Smith's and QFC stores.

Home Depot. To encourage consumers to invest their stimulus check in their homes through energy efficient products and services, the retailer is offering special values on energy-efficient products such as light bulbs and home appliances through the summer.

Radio Shack. The retailer will cash your check and give you 10% off on any purchase above $50, and then give you the difference as a prepaid MasterCard that can be used anywhere that takes MasterCard.

Domino's Pizza. Although you don't need to use your stimulus check for purchase, Domino's is getting into the spirit of economic stimulus, offering a "recession-busting" special of three pizzas for $12.00. According to the company's press release, "While you're feeding the economy with your special refund check, let it feed you back."

These are just some of the promotions that retailers are currently offering, and more deals are likely on the way. If there's something you want to use part of your stimulus check for, do your homework and take advantage of the specials that are out there.

For more information on any of my listings please visit my website http://www.dmsamson.com/.

If you are interested in looking for or selling your home, please contact me.

UNDER CONTRACT in 2 weeks!	9108 Bowler Drive Townhouse 4 bedrooms 4 full/1 partial baths	$424,900	2,244 sqft	Fairfax, VA
	9702 Main Street Single Family House 3 bedrooms 3 full/1 partial baths	$389,900	1,716 sqft	Fairfax, VA
	6328 Field Flower Trail Townhouse 3 bedrooms 3 full/1 partial baths	$349,900	1,840 sqft	Centreville, VA
	4179 Whitlow Place Single Family House 7 bedrooms 4 full/1 partial baths	$675,000	2,996 sqft	Chantilly, VA
	9064 Tanyard Lane Townhouse 3 bedrooms 2 full/2 partial baths	$449,999	1,712 sqft	Lorton, VA
UNDER CONTRACT	22521 Maison Carree Square Townhouse 3 bedrooms 2 full/2 partial baths	$365,000	2,047 sqft	Ashburn, VA
	14352 Haysickle Court Townhouse 3 bedrooms 2 full/1 partial baths	$334,732	1,416 sqft	Centreville, VA
	43123 Holtby Square Townhouse 3 bedrooms 2 full/2 partial baths	$410,000	2,178 sqft	South Riding, VA
	43443 Katling Square Single Family House 4 bedrooms 3 full/1 partial baths	$494,900	2,609 sqft	South Riding, VA
SOLD	1356 Shallow Ford Road Single Family House 4 bedrooms 2 full/2 partial baths	$449,900	2,076 sqft	Herndon, VA

Donny and Meredith Samson Samson Realty Associate Broker NVAR Top Producer Direct 703-864-4894 4 - 4 1/2% Full Service Listings Cash Back to my homebuyers http://www.dmsamson.com/

Property taxes seem to jump up year after year. Unfortunately, we've become so accustomed to rising taxes that it's no longer a surprise. But here's something that may surprise you. Did you know that over the last eight years, property taxes have actually outpaced even inflation? Those rising taxes - combined with the recent plateau in home values in some areas - mean you may be paying more than your fair share.

In fact, the National Taxpayers Union estimated that as many as 60% of home values were assessed too high, resulting in an incorrectly larger property tax bill.

Based on recent market activity and the rising property taxes across the country, there's a chance you may be in the group of people paying too much. In fact, homeowners in declining markets are receiving solicitations from companies that charge up to $250 to help lower property taxes. But with the steps below, you can work with your local County Assessor to lower property taxes for free...and save yourself the $250!

The good news: it's easy.

First, contact your local tax assessor's office and ask for someone in the reassessment area. Find out when appeals are heard, and how the process for submitting a property tax appeal works.

Additionally, ask for a copy of your property card. Review the card and confirm that the basic information about your property is correct. For example, is the square footage and number of rooms for your home accurate? If the number is incorrect, the county may change the assessment without a formal appeal. If everything on the property card is correct but the assessed value still seems too high, your next step is to gather the following documentation to support an appeal. And don't be surprised if the assessed value is lower than what you think the market value for your home is--many counties use a formula which uses a percentage of market value to determine assessed value. Ask what the formula is... because an assessment that is less than market value still might be too high.

If you have a current appraisal that supports the value being lower using recent market-value information, many counties will accept a copy of the appraisal with the appeal. If the appraisal is outdated, you can order a new one--just call me for a referral to a great appraiser. You can also visit the local assessor's office or search online, and look through the public records for other homes that have similar features to yours, but have lower assessments. They will be able to give you current market information for your neighborhood, and help you see how your market value and assessed value stacks up against your neighbors.

Submitting an appeal is generally a fairly simple process, but make sure to take the time to fill out all forms in advance and be prepared with your documentation if there is an in-person hearing that needs to take place.

More good news...

According to the National Taxpayers Union, about 33% of property tax appeals succeed! Taking the time to review the accuracy of a tax bill could easily save you hundreds of dollars per year, adding up to thousands of dollars during the time you own your home.

Starting May 12th, it'll cost you one extra little penny to mail someone your thoughts. That's right...the US Postal Service is getting ready to make some price changes, and the biggest change for most consumers will be a price increase for First Class stamps from 41c to 42c.

The news isn't all bad, though. That's because for the first time in the history of the US Postal Service, the new pricing structure will include online price reductions, rebates, commercial volume and contract prices, as well as several other new incentives. The heat must be on the USPS to be competitive in pricing, as according to Postmaster General John Potter: "These innovative pricing incentives will make our products more attractive to all shippers, especially small businesses. We're pricing our products to sell in today's competitive shipping market."

Ways to Save...

Forever Stamps - Last year, the US Postal Service introduced Forever Stamps... and this is your chance to reap the rewards! You can purchase Forever Stamps prior to May 12 at the lower 41c rate, and then use them even after the price change. Forever Stamps are widely available through Post Offices, Contract Postal Units, consignment locations, Automated Postage Centers, and The Postal Store^®. To help meet increased demand before the price change, the US Postal Service plans to have 5 Billion Forever Stamps in stock. So you shouldn't have any problems getting your hands on them.

In addition to Forever Stamps, the US Postal Service is introducing all new ways to help you save, including the following new incentives:

Express Mail - With the new "zone-based pricing system," you'll pay less when you send a letter to a nearby destination using Express Mail. You can also save 3 percent when you purchase Express Mail online or through a corporate account. Finally, additional price reductions are available if you ship quarterly minimums.

Priority Mail - The new pricing structure includes a provision to help you save an average of 3.5 percent when you use electronic postage or meet other requirements.

Parcel Select - Large- and medium-size shippers will receive pricing and volume incentives under the "last mile" delivery provision.

Parcel Return Service - A new weight-based pricing system will result in significant price reductions for the return shipping of lighter packages.

Donny and Meredith Samson Samson Realty Associate Broker NVAR Top Producer Direct 703-864-4894 4 - 4 1/2% Full Service Listings Cash Back to my homebuyers http://www.dmsamson.com/

SPRING HAS SPRUNG...

...and that means it's time to wash away those winter blues! In fact, according to the Soap and Detergent Association - did you even know there was such a thing? - three-quarters of Americans engage in spring-cleaning. In fact, their surveys indicated that more than 80 percent of people who spring clean agree that it helps them save time throughout the year, and 96 percent of people donate or discard items during their spring-cleaning.

 But the advantages can go much further than that. Check out these top ten spring-cleaning activities, compiled by http://www.medicinenet.com/, that can help make your home healthier and safer:

1. Thoroughly dust your home. Also clean any air conditioning and heating filters, ducts, and vents to minimize pollens and other airborne allergens.
2. Organize your medicine cabinet. Throw away expired medications and old prescription medicines that you no longer need.
3. Inventory your garage and basement. Get rid of any old paint, thinners, oils, solvents, stains, and other similar items you no longer need. Note: You may need to take these items to a hazardous waste drop off center.
4. Inventory under your sinks and around your house. Dispose of old or potentially toxic cleaning products.
5. Have your chimney professionally cleaned. This will help you lessen the chances of carbon monoxide exposure when the cold weather returns.
6. Clean all mold and mildew from bathrooms and other damp areas. Use non-toxic cleaning products.
7. Check your rugs. Make sure that rugs on bare floors have non-skid mats and that older or dusty mats are either washed or replaced.
8. Inspect outdoor playground equipment. Make sure that all elements are sturdy and safe, especially guardrails, protruding bolts, and other potential sources of injury.
9. Change your batteries. Do so for both smoke detectors and carbon monoxide detectors.
10. Collect old batteries throughout the house for disposal. Dispose of them in a battery recycling or hazardous waste center.

And make it easy on yourself - take it one room, one cleaning task at a time. You'll be more likely to accomplish more if you tackle each spring-cleaning project separately. And that's great advice...any time of year!

Donny and Meredith Samson Samson Realty Associate Broker NVAR Top Producer Direct 703-864-4894 4 - 4 1/2% Full Service Listings Cash Back to my homebuyers http://www.dmsamson.com/