Knowing The Real Monthly Mortgage Payment A First Time Homebuyer Will Pay

As a first time homebuyer, you will be exposed to hundreds or thousands of ads everyday; media stories, friends’ advice, and online mortgage calculators that will provide you with partial information. All of these sources will lead you to believe that you can have a larger home loan balance with what seems to be a very low monthly payment. Or they will show you a monthly payment that seems extremely affordable for what you are looking for, trying to hook you to make the purchase.

The underlying truth though is that most of these monthly mortgage payments that you will come across are not completely accurate. Most of the super low mortgage payments that you see advertised are targeted to a specific homebuyer who has perfect A credit and usually do not include Property Taxes or Homeowners Insurance that you will also need to pay for each month.

Marketing departments are very smart and will show these low payments just to generate leads.

The marketing ploys usually have a small fine print that tells a different story. These super low payments will typically require extremely high credit scores in the high 800s and at least a 20% down payment.

If you put less than 20% down, your monthly payment could then also include mortgage insurance to be added to your payment. Look closely in the fine print, if you can locate it and you will see all the requirements to qualify for that payment and what type of loan program it is.

An advertisement does not know what your credit score is or if you plan on putting down a down payment.

Your monthly mortgage payment will typically include Principle and/or Interest payments, Property Taxes, Homeowners (Hazard) Insurance and possibly even Mortgage Insurance. It is important to talk to your loan officer and find out exactly what your TOTAL monthly payment will be and what will be included in that payment.

Keep in mind too, that some neighborhoods will require you to pay a Home Owners Association fee or other Community specific fees each month on top of your monthly mortgage payment. If you are used to renting, you also may not realize all the different utility expenses that you will need to pay as a homeowners instead of a renter.

In order to keep your overall monthly expenses in your comfort zone, it is very important to know your TRUE monthly payments and expenses. You don’t want to buy your first home only to find that it is a financial burden. Buying your first home should be a great point in your life, not a financial nightmare.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Strategic Downsizing To Cut Costs

Everyone feels the strain of rising costs here and there. It may be groceries or it could be gas, but many of us are looking for solutions to an on-going problem. How to cut costs?

These days it becomes more of a strategy to save money. If you move to a walkable neighborhood you can cut down on gas, kids can walk to neighborhood schools, find entertainment at nearby parks and centers and more pep in your step means a healthier you.

You’re not just downsizing your space but you’re strategizing to move to a simpler life. You look at all the ways you can save on money just by moving to the right neighborhood. Ask yourself a few questions;

1. If you drive your kids to school or if your teenagers drive to school, wouldn& it save money to downsize to a community where they can walk or buses will pick up?

2. What communities have shopping within walking distance? If you buy local you can save.

3. Which community could you move to that has a bus stop or train station nearby?

4. Are there banks/ATM machines in the community? Do you know how many times people must run out and drive to an ATM machine just to give money to the kids? What a waste of gas!

There’s more than one way to reduce housing costs. A smaller home typically means a smaller mortgage and smaller property taxes. It also means lower utility bills and reduced maintenance costs.

The biggest problem with downsizing to new homes is that people have trouble parting with the past but you always have your memories and trinkets.

The bottom line is that costs go up and down but they will never be so low that you won’t feel pocket stings, especially when you get closer to retirement age. That’s why downsizing is strategic; you must focus on cutting your expenditures so you have more going in your pockets than going out.

Asking yourself is it Worth It?

In most cases, the answer is yes. Sizing down will almost always mean saving money. Lifestyle is perhaps your wild card in this equation, and depends entirely on your personal wants, needs and any changes you hope to introduce.

If you strategize in the choices you make it can have a profound impact on your pockets and in your life.

 LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Lavish Incentives To Buy A New Home

Savvy home buyers are seeing the best deals ever and the pickings are fabulous when it comes to selecting your dream home.

With a wave of foreclosures homebuyers have been reluctant to purchase new homes when they could snag a foreclosed home with a deep discount; but now, the big boys are introducing all types of incentives that really have placed foreclosed properties on the back burner.

Imagine purchasing a customizable colonial for under $200,000 with a brand new 2011, $17,000 car. Perhaps you’d be interested in a quaint and pristine brick-and-stone townhouse that comes with $25,000 in free upgrades that include wood-burning fireplaces, stainless steel kitchens and marbled bathrooms tricked out with double-bowl vanities and whirlpool soaker tubs. Sounds enticing, right?

Obviously, business has been soft in the housing market and these incentives are more evidence that buyers have the upper hand and every qualified buyer should be running to a real estate agent.  However, this is becoming a bigger problem for sellers. Competition is stiff – not that sellers cannot compete and accomplish a sale, but it takes a few tips and tricks to get there.

Many potential homebuyers are taking their time to purchase a home; some have commitment phobia, others believe the housing market will become far worse opening up better deals with lower mortgage interest rates; these scenarios are unlikely since the housing market is pretty steady in most parts of the country.

Advantages of Buying a New Home Now

• Right now you are able to purchase more home than you could have 2 years ago. Builders that re-started their momentum 3 years ago have discounted brand new communities. You could purchase a single family home for under $350,000 and now that price is discounted.

• Buyers are being lavished with lawns sodded to perfection, absurdly low financing and free insurance that will pay the mortgage if you lose your job.

• Reduced costs on “immediate availability” sales; many times a transaction falls through because the homebuyer could not secure a mortgage on the home they selected; these homes go back on the market at reduced costs. The builder wants to sell immediately and the buyer is in the driver’s seat.  To get the best deal on these homes you need a real estate agent because the builder’s sale team will definitely try and get the most out of this deal and you could wind up overpaying.

The biggest issue with home buying used to be raising the deposit and closing costs but with new home pricing and incentives to help with closing costs, all those costs excuses are a thing of the past.

The housing market’s recovery is definitely slow but we are within the greatest time to purchase right now; as we’ve already seen, mortgage interest rates slowly increase and home prices will follow.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Stricter Qualifications To Get A Mortgage

You’ve done everything right; you’re credit is strong and stable, yet you still have problems securing a mortgage. What will it take?

Ripples from the national crisis are affecting all borrowers nationwide as they try to secure new mortgages. And while those credit-worthy borrowers would think they have nothing to worry about when it comes to securing a loan that just isn’t the fact anymore.

Would-be borrowers these days may have to set aside a little more for a down payment, have a slightly higher credit rating than the perfect rating they thought they already had, and plan on a lower debt-to-income ratio than they would have a couple of years ago.

Changes to guidelines are being imposed on lenders and their customers by mortgage insurers and the secondary mortgage market — the big banks or federal institutions that buy your mortgage from smaller banks or credit unions.

These days’ mortgage insurers have stricter guidelines than lenders.

One of  the biggest losers in the banking meltdown was mortgage insurance companies; now they won’t insure loans if they don’t meet stricter qualifications. And without insurance, a mortgage becomes too risky and unsalable to investors, which mean lenders probably won’t be interested in making the loan in the first place.

Mortgage insurance guidelines are frequently tougher on loans that come through mortgage brokers than they are for loans that come in through direct lenders like banks yet mortgage brokers can be a great tool for finding the best deal for your loan.

Even for people considered good credit risks are having trouble securing a mortgage loan.

Sure, FHA guidelines say the qualifying credit score is 640 yet that has been really difficult to get approved. And while there may be exceptions to the rule, typically your score must be closer to 700 in order to get underwriters to give the borrower more latitude.

Despite the economy and credit tightening, there are no shortages of potential homebuyers looking to get loans but there is a huge shortage of loan approvals.

Even when an insurer’s guidelines theoretically allow a loan to be approved on the premise of your credit-worthiness, lenders nationwide report that getting an actual approval has been nearly impossible in troubled states that have high occurrences of economic distress.

What Should You Do?

Jump through hoops, continuously explain and submit paperwork and in the end you’ll probably work directly with the big banks since mortgage insurers are more apt to be lenient with “bigger” than “smaller”.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Choosing A Preferred Or Approved Lender When Buying New Construction?

We all see the enticing advertisements hoping to sway us in choosing a lender. What’s the difference between a “Preferred” lender and an “Approved” lender and which one gets our loan accepted quicker?

A Preferred Lender is a loan originator who has a relationship with the builder and who has processed many of their loan packages. They know the builder’s processes and will keep the builder informed of any problems.

Approved Lenders are loan originators who no doubt will have strong credentials, but they usually don’t have an extensive history with the builder. Approved lenders have been qualified to work with specific loan packages. They follow stricter criteria, while not appeasing the builder. It’s not that you’ll get incompetent or inferior service by choosing an approved lender but you’ll probably miss out on some of the incentives that are only offered to those using a preferred lender.

1. Preferred lenders help expedite the loan approval and closing process.

2. Approved lenders have been certified and accepted to approve loans for specific loan packages.

So what should you do? Go with the “Preferred” or the “Approved”? Look for a lender that has a range of loan programs with a commitment to service. And while you’re at it, look for the benefits in the deal;

• Is the lender attentive? Send a few inquisitive emails to see how long it takes for a response. 

• Ask them for quick summary of the top 3 programs you may qualify for? While many lenders may quickly tell you to complete an application to see which programs you’re eligible for, the real gems will mention their “star” programs that stand out and have general criteria. For example, I’d rather a lender mention a neighborhood revitalization program that provides down payment assistance for low, mid and higher incomes than receiving the standard answer of “complete a quick application so I can evaluate your options”.

 • How long will a mortgage decision take after an application is submitted?

• What is the minimum down payment requirement for each type of loan?

• How long will a mortgage commitment remain effective?

• Does the interest rate remain constant on the loan commitment? 

Even when you decide upon choosing a preferred or approved lender, you should still do your homework; Study the types of lenders and their advantages and disadvantages for your situation.

Beyond the interest rates, there are closing fees and points, and occasionally commissions that you don’t see. You will want to compare these for all the lenders on your list.

Compare a minimum of three or more lenders before making a decision. You’ll want to compare rates, fees, and points, but you will also want to know a slew of other things.  Don’t be afraid to ask: Lenders know you have options, so being forthright should not be a problem.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Choosing Between a Home or Condo for Retirement

As more and more baby boomers head toward their retirement years, they may discover that the home that seemed so perfect for a growing family suddenly seems far from ideal after the kids moved out. It can be a real pain to haul out the lawn mower or spend time shoveling snow from the driveway. Also, as their friends start to sell their homes and downsize into smaller abodes, boomers may find the idea even more appealing. Why face retirement with the burdens of a large home to maintain? Why not opt for a simpler lifestyle?

What Are My Options?

Both homes and condos have their advantages and disadvantages for those getting ready to retire. Condos and homes designed for seniors and baby boomers come in a wide range of prices. It is entirely possible to sell your home, buy a less expensive condo and pocket the savings.

There is rarely a “one size fits all” answer for every baby boomer or senior citizen. However, weighing the financial pros and cons and also thinking carefully about the lifestyle you desire as you move into your retirement years will help you decide.

Owning a condominium is vastly different from owning a single-family home, which is detached. Many condos actually mimic apartments and have many of the same features as apartments.

If you ever lived in an apartment, perhaps the thought of spending your senior years living in a building where you share a common wall with a neighbor may not be that appealing. On the other hand, if you’re single and want the security of knowing there are other people around, it may be comforting to know a neighbor is on the other side of that wall. After a spouse dies, it can be reassuring to live in a community of condominium owners rather than staying alone in a large home.

Other seniors feel that condo ownership and rules are too restrictive. Be sure to research what monthly fees you would pay, in addition to your mortgage, if you lived in a condo, as well as what utilities or other services are covered.

Let’s face it; there really isn’t any point in looking at either housing option till you know where you stand financially. Start by getting an idea of what you can afford, assuming you have a fair idea of what you can expect when you sell your current home. This step may help you realize the actual condo and housing choices within your price range.

Perhaps a small but adequate condo is perfect, or perhaps you’d still prefer a home, without common fees and other restrictions set by the condominium board. Whichever you decide keep in mind you’ll be choosing a place to spend quiet peaceful years that you deserve.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

No Down Payment? You Can Still Buy A Home

Many potential homeowners look at their bank account and figure “there’s no possible way I can buy a home”; however there are many programs that offer down payment and closing cost assistance that potential homeowners are unaware of. This is one reason it can pay off if you take the time to contact a realtor and a mortgage loan officer to see what you qualify for.

First Time Homebuyers have the best opportunities available now –down payment assistance to buy a home complimented by an abundance of available homes and low mortgage interest rates.

And what happens to those that wait?

Assistance to purchase a home will dry up because its only on a first come first serve basis; interest rates will go up and the price of homes will increase. Take a glance at all the programs available to help you with down payments and closing costs;

Workforce Initiative Subsidy for Homeownership (WISH)

The WISH program provides a three-to-one match to down payment funds a homebuyer deposits towards the purchase of a home, up to $15,000; so for every $1 you save up the WISH program will match it with $3

To be eligible for WISH funds, the homebuyer must meet the following eligibility criteria:

• You must enroll in the WISH Program

• You must successfully have completed a homebuyer counseling program

• You have to be a first-time homebuyer, as defined by the member

• You must meet income eligibility guidelines that are at or below 80% of the HUD area median income

• You must open escrow on a home purchase transaction within one year of enrollment in the WISH Program

US Dept of Housing & Urban Development Homeownership Vouchers (HUD Homeowership)

If you qualify for and obtain a Section 8 Housing Choice Voucher, you can use the HUD subsidy to purchase a home via the Homeownership Voucher Program.

• Contact your local public housing agency to apply for the Section 8 program. The Section 8 program provides rental subsidies, known as Housing Choice Vouchers, to households that earn significantly less than their area’s median income

• You cannot earn more than 50 percent of your area’s median income

• You must get on a waiting list, assuming it is open in the area where you wish to live

• Use your voucher to buy a home

Those are only two popular down payments and closing costs assistance programs but there are many state, local and county programs available to a wide range of potential homebuyers, all with varied income guidelines.

And don’t think for a moment the only grant programs available are for low-income individuals because there are programs that are based on revitalization areas and do not look at your income.

You may qualify for a grant based solely on your employment such as the Good Neighbor Next Door program. It all starts with contacting a real estate agent and a mortgage loan officer.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Top 5 Ways To Increase Your Home’s Value

We all want our homes to look appealing to make visitors take a second look; but where do you spend your money to increase value And look good And stand out?

1.An updated kitchen. Kitchens are critical because people want lots of workspace to cook and socialize. Buyers look for solid surface counters, updated appliances and high-quality flooring, such as wood, laminate, tile or stone. It also doesn’t hurt if it opens onto another room; families are looking for openness to communicate. It won’t hurt if you have a picturesque window or several windows to allow light in. Will it sell faster, Yes!

2.Natural materials. People are looking for ceramic tile, hardwood floors, and granite. In floor coverings — especially bathrooms or kitchens — look for ceramic tile or wood rather than linoleum, which can become worn and tear. In the rest of the house choose wood or laminate products over wall-to-wall carpeting.

3.Curb appeal. First impressions are everything. There is nothing better than pulling up to a home with a manicured lawn and a splash of color. A house that appears tidy and well-cared-for will sell more quickly and for more money. A good first appearance can add as much as 10 percent to the value of the home.

4.Basement. A finished basement adds more value simply because of the space. People love the fact that they can “go somewhere and hide” or have that man-cave; and many parents love a place where teenagers can be in another part of the home, not seen or heard!

5.Lots of storage. Nothing beats an oversized garage, some attic space and plenty of closets. If you have a two-car garage you are in the forefront for “SOLD”; do you have extra space for those things we all have — bicycles, lawn mower, snow blower and just extra junk? No matter if you’re single or married, Space is important.

Now on the flip side, contrary to what many people believe there are things that can alter your property value;

* A pool. Pools in most parts of the country don’t automatically raise the value of your home; It’s constant upkeep, they get cracks, when the equipment goes down it’s expensive to replace and the liability is high

* Outdated appliances or systems. Who wants an electrical system or plumbing system incapable of handling modern conveniences?

* Stale or overly personal decor. Sure, red is a hot wall color right now but a complete red room? It won’t appeal to everyone. Most home sellers will change the colors to something muted but then you have those who want to remain purple and electric green for the sake of individual design.

 

LET’S TALK REAL ESTATE : REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties. Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

The Biggest Mortgage Blunders That Can Derail Your Game Plan

So you want a mortgage loan but you don’t have a plan? One of the first blunders that are damaging to everyone is not thinking about your future plans. The things you do today could have a great impact on acquiring a mortgage loan next year or even 5 years down the road. Here is a list of some common mortgage blunders that could derail your game plan.

 1.Co-signing On Someone Else’s Loan

You could become a great friend or even a hero to someone by doing this. Before you do, ask yourself. Are you willing to assume that liability? Are you willing to forego getting your own home to co-sign? Those could be the ramifications.

2.Making Late Payments

Late payments tell a story to the next creditor; will you pay their loan on time? It’s very difficult to qualify for the best terms and rates if you have late payments. It may even keep you from qualifying at all. It might seem unnecessary to say, but always pay on time and when you can’t, call to ask for extra time.

3.Over Using Credit Cards

Yes credit cards are convenient, but if the balances are not kept low or paid off it may make getting the best rates and terms on your loan more difficult. And if you’re thinking about applying for a loan soon, do not take on new debt. Whenever you apply for new credit, you’re seen as a greater credit risk, at least initially. If you happen to apply for a credit card or auto loan around the same time you apply for a mortgage, your credit score might get dinged enough to kill your eligibility or bump up your interest rate.

4.Underestimating Your Total Housing Payment

A mortgage payment consists of principal, interest, taxes, and insurance (The PITI). A common mistake made by prospective home buyers is not factoring in the property taxes, HOA fees and insurance premium into the overall mortgage budget.

5.Not Shopping Around

Just because you’re pre-approved with one bank doesn’t mean you need to obtain financing from them. Be sure to shop around with multiple banks and lenders and even consider a mortgage broker. A broker can shop your rate with a number of banks concurrently and find you the lowest rate with the best terms. Comparison shop just like you would for anything else you buy.

6.Choosing a Lender Based on Their Low Rate

Your mortgage rate is an important factor with your loan. Remember that it is only one of several factors. You also need to keep in mind the APR and the fees.

There are many factors to consider when applying for a mortgage. Take your time and seek the best advice possible from both your realtor and loan officer.

LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont

Relying on Online Reviews – Consumer Decisions

Can you recall what it was like not having the web? When we picked up the phone to check out a business?

47% of consumers rely on online reviews about products or services on company websites before making a purchase decision. These results highlight the importance for organizations to have up-to-date reviews; but how trustworthy are those reviews?

“Mr. Handyman wasn’t very handy”, “I was impressed by how fast the HVAC Tech responded….”

You may think user reviews are posted by your typical shopper. But consumers beware because you can’t believe everything you read.

It’s not unusual for those rave user reviews to be written by people who work at the company or who are paid to write the recommendations. In fact, many companies are opting for paid reviews these days – you hire a blogger or content writer to highlight the positives about your business and even exaggerate a little.

However, this form of reviews isn’t legal; a chain of cosmetic surgery clinics was fined $300,000 because its employees published positive reviews and engaged in deceptive commercial practices.

It’s impossible to determine a service’s effectiveness by reading the sales page; along with positive reviews you also have plenty of unworthy negative reviews. How would you really know which one to rely upon?

Several popular consumer review sites have sprung up over the years, some better than others and some controversial for their practices;

1. Angie’s List

2. Yelp

3. Pissed Consumer

All of these websites provide the same basic services however they all have different guidelines in which consumers are able to place a review about the business.

What are some warning signs of suspect reviews and how do you distinguish the good from the bad?

• When there’s no mention of personal experience with the item.

• When the reviewer only lists the pros and not the cons.

• What’s the language tone? Is it full of selling and hype? Too good to be true? If so, it’s probably not a good review.

• Is there any actual value in the review? Any meat and potatoes details about the product or service?

• Look for reviews that set out both advantages and disadvantages of the product or service.

Also be on the lookout for sponsorship disclosures. But they can be hard to spot, so look close at the bottom of the page.

Also, compare the reviews to other online reviews. Don’t rely upon one website before making your decision. And how about picking up a phone and asking the businesses a few questions of your own? We do still use telephones, you know?

The bottom line is to be skeptical. Before you buy, check lots of sources.

 LET’S TALK REAL ESTATE :    REAL ESTATE CYBERTIPS

 Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Clarke, Fauquier, Prince William and Fairfax Counties.  Some of our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Lucketts, Purcellville, Hamilton, Round Hill and Bluemont