New Construction Homes vs Existing Homes

Many home buyers have questions about new construction homes versus existing homes. One such question was posted by David on Trulia’s Q&A section…

New and used prices on comparable homes, in my area, are the same (Northern VA). Are there advantages of buying an older home, besides immediate possession?

Here is my $0.02 on the subject (which is also the answer I posted on Trulia)…

The prices may be the same, but what you get for your money is not the same. You will pay a premium for having a new construction home over an existing home. Why? Because it’s new.

It’s similar to buying a car – you can pay about $45K for a brand new fully loaded Mercedes C350 or you can pay the same for an excellent condition, 4 year old, decent mileage S550. Some people will go for C350 while others will go the S550 – it’s personal preference.

Regardless of which you may think you would rather go for, you should check out all your options. Have your Buyer’s Agent get you all of the info on all new construction builders/communities in your price point in the areas you’re interested in. Have them take you to see the model homes (some builders have models located in communities other than the ones you’re interested in). Have your Buyer’s Agent give you a list of all the current builder incentives, lot releases, etc. And have your Buyer’s Agent give you the inside scoop on their and their clients’ experiences with each builder in the area whether it be a local or nation builder with local presence.

As far as advantages of one versus the other…new homes are just that, new. The new smell, the lack of wear and tear, you getting to choose where everything goes (i.e. outlets, ceiling fans, HDMI points), you getting somewhat of a choice of the look and color of cabinets, etc. You also get the builder’s warranty.

The disadvantages are that you have to deal with all of the construction around you until they finish the community, the switch of the HOA from the builder to the future HOA management, the settling of the house (i.e. nail pops, dry wall tape, etc) and what some say to be lesser construction and attention to detail than “how they used to build them”.

As for existing homes, the house has already settled and the previous owner(s) have more than likely addressed those issues. You may also find than an existing older home has been renovated with higher quality materials and looks better than a new home for the same price.

For example…your new home has builders’ “level 1″ granite, decent cherry cabinets, their standard hardwood floors and the typical builder secondary bathrooms choice of materials. But the resale home has really expensive and awesome looking granite, top of the line cherry cabinets and high-end, wide plank hardwood floors and the secondary bathrooms have been renovated with top of the line contemporary vanities including granite and cabinets, awesome and expensive tile work (floor and walls), top of the line fixtures/faucet, etc.

There’s more to it than just this, but this gives you an idea of some of the differences and just how much there really is to consider. If you would like to chat in more detail about the rest of the differences and what to consider, give me a call or email me anytime. I have worked with many new construction homes in Loudoun County and stay in constant contact with sales reps at all of the new (and future) new home communities and developments in the area.

P.S. This is David’s reply to my answer: “I really appreciate your comprehensive reply to the question I posted on trulia. I would like to talk with you more. I have been prequalified for a VA loan and am looking for a home in Western Loudoun County. Can we talk? 571-XXX-XXXX”

If those of you reading this would also like to speak in more detail about this, don’t hesitate to contact me.

-Danilo

Reason #55 Why Using the Right Lender is So Important

There are many reasons why using the right lender/loan officer is important. Let me rephrase that…VERY IMPORTANT! And here is reason #55…

This comes from Allison, a home buyer in Fairfax who posted the following questions on Trulia Q&A (note: I’m not her buyer’s agent nor involved in her transaction whatsoever),

[My] lender overlooked the appraisal/financing contingencies. Closing is in a week and no appraisal yet. Seller hasn’t walked but what recourse do [I have]. I have the lender admitting in an email that no one knew there were contingencies even though the contract quite clearly stated this. My realtor, mortgage broker, and I were all told different dates for when the appraisal would be done by over the last few weeks. The seller hasn’t voided the contract yet but wants this resolved ASAP (as do we all). With only a week left, there’s not much I can do except wait but I don’t think the appraisal was even done until today (if I can believe the lender, and I don’t know if I do at this point). I have a settlement attorney and plan to speak with him about the situation but is there anything that can be done? Even if the deal goes through, I plan to address this with the company (much of this has been documented on email, although of course the loan officer is difficult to contact). I’m not blaming the appraiser at this point until/if I get more information.

This is a crappy situation to be in. Should the lender drag their feet any longer, the outcome could be that Allison (or you if you’re in this situation) loses out on her home as well as the money and time she’s already invested in the moving process. And what if she/you were timing the purchase of your new home with the sale of your current home?!

The truth is that, as the buyer, you are at the mercy of the lender you choose and you often have less control over their actions (or lack thereof) than you may think. If the lender makes a mistake or drags their feet, you may have recourse. But recourse often comes after the damage has already been done which is too late. And recourse has little to do with control.

In case the previous paragraph made you tense up and say, “WHAT?!” or “You’re crazy!”, I’m sorry to disappoint. But that’s the hard truth about real estate. If it makes you feel any better, you’re not alone – almost everyone involved in the transaction including your buyer’s agent, the seller, the listing agent and the title company are at the mercy of the lender. As James A. Garfield once said, “He who controls the money supply of a nation controls the nation.”

Enough of the bad news…let’s get to the good news.

There are ways to avoid getting yourself in the situation in the first place. It requires some legwork, time out of your day and trust, but it’s well worth the investment.

• Ask friends, family, coworkers about their personal experience with the loan officer(s) they’ve worked with in their real estate dealings
• Check the loan officer’s references. It’s not just about price as is shown in Allison’s example
• Ask your real estate agent for recommendations on loan officers
• Make sure your loan officer works for a direct lender, not a mortgage broker
• Don’t just rest on a company name. It doesn’t come down to the company/lending institution, it comes down to the individual loan officer. Just like you may get bad service from one waiter and great service from another waiter at the same restaurant, the level of service you receive depends on the individual loan officer rather than the company they work for.
• Though credit unions are often thought of as having very competitive rates and being good to their members, the complete opposite is often true (trust me, I’ve dealt with 99% of credit unions and can give you story after story)
• Make sure that the loan officer is giving you options, recommending loan types that are suited best for you rather than just the one you want/heard was the best and that they back up their claims with hard facts and numbers. The lender I work closely with and trust implicitly once said, “If you think you need your appendix removed, I would hope that the doctor you went to would check out your appendix and overall body and health prior to removing it just because you thought you needed your appendix removed.”
• Get more than one quote. Talk to 2 or 3 different loan officers. Ask them for an estimate of closing costs and interest rate and compare them to each other. But don’t forget to check their references and remember that it’s not just about price.

All of these are important, but a very important one that is often overlooked or not given enough weight is getting recommendations from your real estate agent. And here’s why…

You’re just another customer to “XYZ” bank and “Joe Smith loan officer” – you may or may not ever work with “Joe Smith” ever again and the loan officer knows that you’ll probably forget their name within a month after the deal closes. They do not have as much incentive to treat you right and go above and beyond as they do with someone they know is a repeat customer.

That’s where your real estate agent comes in… A real estate agent who refers borrower after borrower is worth gold to the loan officer. This is especially true in this market where most loan officers are closing fewer deals and making less per deal than ever before. When it comes to clients who the agent refers, the loan officer will bend over backwards and put out fires faster than you can dial “911″.  They will go to such lengths to provide stellar service because the loan officer knows that if they screw up, the agent will no longer refer them anyone and a potentially large chunk of their income will vanish.

I can honestly and proudly say that not one buyer that has worked with the lender I recommend has every been in Allison’s position. Nor have they been anywhere near such a position. This is the power of long term and ongoing relationships with competent, experienced and honest people and vendors.

Some of you may not believe me and will insist on using a loan officer of your choice despite not heeding the warnings nor following sound advice. I sincerely hope things work out for you and that you don’t end up in Allison’s position or another one equally if not more severe.

To those who do their due diligence and trust those who are honest and have lots of experience in the field of real estate and financing, you will find yourself having no such story to tell as the one at the beginning of this post. And that’s worth gold in itself.

Sub-$300K Loudoun Housing Market Remains Hot

The $300K or less housing market in Loudoun County continues to be hot. Properties in this price point are often selling within days and buyers are rushing to see the properties and put an offer in before they’re gone. For sellers, this a good thing. For home buyers, not so much.

Buyers

Just ask any of my first time home buyers or investors looking to pick up a property in that price point and you’ll see their facial expression change instantly. Why? Becuase the process usually goes something like this…

• The property is typically a short-sale or foreclosure
• The asking price is below market value so that the seller/bank will get an offer as quickly as possible
• Multiple offers are received on the property within 48 to 72 hours – sometimes up to 10+ offers
• Many of these offers are cash offers from investors with no contingencies and able to settle within 2 weeks
• Many of the offers are for more than the asking price because the seller/bank has purposefully priced the property below what’s it’s really worth
• Even though your offer (with financing) may be higher in price, the seller may go with a lower priced, all-cash offer because it’s less hassle with a higher chance of closing

Does this mean that first time home buyers in Loudoun County can’t compete with investors?

No. It means that road will be tough and you will need to have a lot patience. You will most likely write several offers on several different properties before your offer gets chosen. Despite the road being tough, every first time home buyer and investor I have worked with in this price point, both in Loudoun County and the rest of Northern VA has eventually found and bought a home that they love and that works for them.

Does this mean that investors will drive first time home buyers with financing out of the market?

Yes and no. Yes because I have heard from other agents that their first time home buyers have either given up from frustration or are waiting for the market to become less hot and cut throat before getting into it. But there are still plenty of first time home buyers out there that are patient and have prepared themselves well for this market through research and/or through their Buyer’s Agent.

Sellers

• There is a lot of demand for properties in the sub-$300K price range (aka lots of buyers looking at your house)
• Even if you’re house needs work, if you price it accordingly, buyers and investors will buy it in its’ current condition
• If you price and market your property correctly, you will have an offer, if not several offers in your hands within days
• If you have multiple offers, you are able to pick the best one that fits your specific situation and needs rather than picking the first one that comes through

Does this mean that sellers can price their property for more than market value and get away with it?

No. Sellers should be confident and smart, not greedy. Buyers are smart – they know what market values are like whether it be from their own research or their Buyer’s Agent providing them with comps (aka the sales price of similar homes that have sold in the same community within the past 90 days). Buyers would rather pass on an over priced property and wait for a properly priced property than spend more on a property than what its’ worth.

Does this mean that sellers should accept an all-cash offer rather than one with financing?

Not necessarily. Seller should always look at the big picture and the small details of every offer. In most situations, an all-cash offer is most desirable. But not every situation nor every all-cash offer is the same. Sellers and their Listing Agent should discuss the pros and cons of each and every offer before making a final decision on which one to accept.

Need more info or a list of homes for sale in the sub-$300K market? Contact me via email or on my cell and I’ll be glad to help.

A Double Bottom in the Loudoun County Housing Market

There is going to be a double bottom in the Loudoun County housing market. No…not could. It is going to happen.

And it’s happening already.

The first bottom in the Loudoun County housing market came in the summer of 2009. The peak of the boom market was the summer of 2005. Prices went into a free fall from the summer of 2005 through the summer of 2009. (Sorry to bring up such a sore subject)

From the summer of 2009 to the end of April 2010, prices rose anywhere from 10 to 20 percent (some pockets of Loudoun County and Northern VA went up even more). Some of the reasons include extremely low housing inventory, record low mortgage rates, the federal home buyer tax credit and a renewed sense of confidence in the housing market and general economy.

But…between May 1, 2010 and today, market values have plateaued and even declined in many areas. Prices have gone down as much as 5 percent in many areas of Loudoun County since May 1 (some areas have seen 10 percent drops).

Values going down since May 1 means that there is going to be a double bottom in the Loudoun County housing market.

What happened?

Inventory increased and demand decreased. Banks started releasing more foreclosure/bank-owned properties on the market and sellers who saw prices increasing and had a renewed sense of (some) confidence decided to finally put their property on the market and make that move they’ve been putting off due to the crappy market.

Buyers who were going to wait until later this year or even the beginning of next year to buy bought earlier partially due to the federal tax credit. You had 12 to 18 months worth of buyer demand all crammed in to a few months while the tax credit was available. Now that all those people have bought, we have less buyer demand.

Also…with prices 10 to 20 percent higher earlier this year than in the summer of 2009, some buyers were priced out of what they originally wanted and could afford to buy.

When is the second bottom in the Loudoun County housing market going to be here and how much will values go down again?

If I knew the answer to this question, I’d be a billionaire. Thus, I still work. But I can make an educated guess…

The first rise in prices took almost 4 years (the boom market of the early 2000′s). The first bottom took 4 years exactly to get here (summer 2005 – summer 2009). The most recent rise in values took about 9 months (summer 2009 – April 30, 2010). I’d say the next bottom will be here 9 to 12 months from May 1 (end of 2010/spring 2011).

Values went up 50+ percent in the boom market and then came down about the same amount. The recent rise in prices was 10 to 20 percent so I’d say a 10+ percent downward correction in the second bottom is very possible.

But that’s just an educated guess. If rates continue to stay low, that may help soften the blow of the second bottom. But rates are artificially depressed thanks to government intervention and Europe’s general economy not doing too well. Should rates go up (which they most likely will) and investors who took money out of Europe and put it into the US stop doing so, all bets are off.

In addition, the cost of financing has risen 33 percent over the past few years. And beginning September 1, the cost of FHA financing (which is very common in this area) will go up substantially, further raising the cost of buying a home. A rising cost in financing and monthly payments is not a good thing for market values.

Yes folks. There is going to be a double bottom in the Loudoun County housing market and we’re already in the midst of the second bottom.

What does this mean to you?

It’s different for everyone and depends on your specific situation. If you would like to chat more about it, email or call me anytime.

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When Does the “Spring Housing Market” Start?

Many sellers and buyers are waiting until Spring for the “Spring housing market” to sell their home or buy one. But when does the “Spring housing market” really start?

The most common answer is, “Spring!” Is that correct?

Nope.

The “Spring housing market” has already started. In fact, it starts in January. In the 6 years of being a Realtor, January has been the busiest month of the year for me (and in general) when it comes to buyers house hunting and writing a contract on a new home. The third busiest month? February. (The second busiest month is October)

“Really?”

Yup. And here are some guesses as to why based on what buyers have personally told me…

More time + more money = more buyers in the market to buy a home.

People are busy with end of year work, holidays and their children’s winter break in December. This puts selling their home or buying one on the back burner. Once January rolls around, all of that is behind them and they have more time on their hands so they start house hunting.

December and January also equal Christmas/year-end bonuses. And let’s not forget that many people know they have tax money coming back to them from Uncle Sam soon so the thought of a hefty down payment is a bit more bearable.

What it means to you if you’re a seller

If you’re thinking about selling your home, for these and other reasons, you may want to strongly consider listing your home in January/February (more on this in another post coming soon).

What it means to you if you’re a buyer

If you’re a home buyer house hunting in January/February, know that other buyers are doing the same thing so be prepared for increased competition (aka multiple offers) on properties that are great deals.

If you have specific questions or concerns regarding buying or selling a home or the local housing market in general, click here to email me or call me – 703.582.6900.

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Is Selling Your Home in the Spring a Good or Bad Thing?

A Seller’s Guide to the Short-Sale Process



Tags: buying home in spring, loudoun spring housing market, northern virginia spring housing market, selling home in spring, spring housing market, spring real estate market

Claim the Home Buyer Federal Tax Credit with IRS Form 5405

January 30, 2010 by Danilo Bogdanovic  
Filed under Buyer Resources, Taxes

2 Comments

Earlier this month, the IRS released form 5405, which allows homebuyers to claim up to an $8000 tax credit for the purchase of a home.  You can get a copy of IRS form 5405 by clicking here or check out the copy embedded below. You can find full details on claiming the tax credit on IRS.gov.


IRS form 5405 home buyer tax credit –

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First Time Home Buyer Federal Tax Credit Extended and Expanded



Tags: 8000 tax credit, federal tax credit, first time home buyer, home buyer tax credit, irs form 5405

Upcoming Changes to FHA Home Loan Guidelines = Higher Costs to Home Buyers

January 26, 2010 by Danilo Bogdanovic  
Filed under Buyer Resources, Mortgage/Lending

2 Comments



Upcoming changes to FHA home loan guidelines will increase the cost of buying a home for buyers – especially first-time home buyers. It may sound crazy considering the state of the national housing market, but it’s true.

Here’s the official HUD press release (click here if you don’t see the embedded HUD press release regarding FHA home loan guidelines)…


FHA guideline changes 2010 –

In a nutshell, here are the FHA home loan guideline changes and what they mean to you…

• The upfront Mortgage Insurance Premium (MIP) is going up from 1.75 points to 2.25 points (1 point = 1 percent of the loan amount). On a $200,000 FHA home loan, that’s an added cost of $1,000
• FHA home loans to borrowers with a FICO score (aka credit score) of 579 or less will go up from 3.5 percent to 10 percent. On a $200,000 FHA home loan, that’s an added cost of $13,000
• Many home buyers going with an FHA home loan ask for closing cost assistance from the seller in order to minimize the amount of cash they need to come up with out of their pocket. Currently, FHA guidelines allow seller closing cost assistance of up to 6 percent of the purchase price. The new FHA home loan guidelines will decrease the amount from 6 percent to 3 percent. I typically see closing costs (including pre-paid items) on FHA loans of between 4 to 5 percent. Under the new guidelines, the home buyer would have to come up with the last 1 to 2 percent out of their own pocket rather than asking for all of it to be paid for by the seller.

To put the changes into perspective, let’s see what the difference in cost will be to John and Jane Smith, first-time home buyers in Northern Virginia using an FHA home loan under today’s guidelines versus the new guidelines…

Today’s FHA home loan guidelines

John and Jane Smith are buying a town home in Northern Virginia for $300,000. They will need to come up with 3.5 percent of the sales price ($10,500) for the down payment. They’re happy that they don’t have to come out of pocket for their closing costs because the sellers agreed to credit them back 4.5 percent of the sales price ($13,500) to cover them. John and Jane need a total of $10,500 cash out of pocket to buy the town home.

Upcoming FHA home loan guidelines

John and Jane Smith will need to come up with $10,500 for the down payment if their credit score is 580 or above. If their credit score is less than 580, they will need to come up with $30,000 for the down payment. The seller will only be able to pay up to 3 percent of their closing costs so they will need to come up with the remaining 1.5 percent ($4,500) out of their own pocket. In addition, they will pay an extra .5 percent ($1,500) in upfront Mortgage Insurance Premium (MIP). The total increase in cost to buy the same town home will be either $16,500 or $36,000 depending on their credit score with the majority of it coming out of their pocket in cash.

Under the new FHA home loan guidelines, Jane and John will need at least 62 percent, if not 343 percent more cash out of pocket to buy the same town home.

When do the new guidelines go into effect? No official date has been set. But they are coming and the word on the street is sometime late spring/summer 2010.

If you’re sitting on the fence when it comes to buying a home right now, you may want to jump off and take advantage of the current FHA home loan guidelines (and federal tax credit) before they change. If you don’t, you could be in John and Jane’s shoes and need an additional 62 percent (if not 343 percent) to buy the same home in the future.

If you have specific questions about the FHA home loan guidelines, the housing market or real estate in general, email or call me – 703.582.6900 – danilo.bogdanovic (at) gmail (dot) com.



Tags: changes to fha loans, FHA down payment, fha home loans, fha loan guidelines, fha loans, home loan

What the Heck is the Difference Between “Contingent” and “Contract”?!

December 22, 2009 by Danilo Bogdanovic  
Filed under Buyer Resources

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Here’s a two-part question one of my clients recently asked me… “Can you explain to me the difference between ‘CNTG/NO KO’, ‘CONT/KO’ and ‘CONTRACT’? Can you still put offers on houses like that?”

The abbreviations stand for the following:

• CNTG/NO KO means that the property is contingent upon one or more things, but the seller can not “kick out” the offer to take another offer. The type of “no kick out” contingency you usually see is an appraisal, financing and/or home inspection. Unless the buyer is paying all cash and has absolutely NO contingencies, the status is CNTG/NO KO
• CNTG/KO means that the contract is contingent upon one or more things, but the seller can “kick out” the offer to take another offer. The “kick out” usually involves some sort of notice and short time frame for the buyer to remove the “kick out” contingency or the seller can accept another offer. One example of a “kick out” contingency “Sale of Home Contingency” by the buyer
• CONTRACT means that all contingencies have been removed and the buyer and seller are locked into the contract. Typically, there is no way out of the contract that doesn’t involve default on the part of one or both parties.

As far as still being able to put an offer on a property in each of these three situations…

• CNTG/NO KO – you could put an offer on it if the seller is accepting back-up offers. Your offer would be considered only if the original buyer/contract falls through
• CNTG/KO – you can place an offer on it at any time. If the seller likes your offer better, they can give the original buyer notice requiring them to remove the “kick out” contingency. If the buyer does not comply with the terms of the notice and doesn’t remove the “kick out” contingency in time, the original contract could become void and the seller could accept your offer
• CONTRACT – at this stage of the game, the chance of the deal falling apart is extremely small. If you’re really interested in the property, have your Buyer’s Agent contact the Listing Agent and ask them to keep you in the loop should the contract fall apart. Your Buyer’s Agent and you can also place the property on your “watch list” which will alert you of any change to the status (aka from CONTRACT to ACTIVE/back on the market)

A few important things and disclaimers…

1) If you have questions about the status of a specific property or whether you are able to submit an offer on it, contact your Buyer’s Agent. If you don not have a Buyer’s Agent, contact me directly – danilo.bogdanovic (at) gmail (dot) com – 703.582.6900.

2) These abbreviations are used by the local MLS here in the DC metro area. Different real estate search sites and different MLS’ use different abbreviations/terms so none of this may apply to you/your area.

3) I am not a lawyer – this is not intended as legal advice nor guidance – every contract and its’ terms is different – every MLS and area is different – check with your Buyer’s Agent/Realtor and others for guidance.



Tags: contigent, contract, kick out, no kick out

Buying New Construction, Financing and Future Interest Rates

December 18, 2009 by Danilo Bogdanovic  
Filed under Buyer Resources, New Construction/Builders

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Here’s a three-part question recently asked by a new construction home buyer I’m working with… “If my new home won’t be ready until June, how will that affect my financing contingency, when can I lock in my rate and what happens if rates spike up between now and June?”

That’s a very good and important question.

To answer the first part of that question, your financing contingency depends on the what the builders’ contract says. In my clients’ particular case, the builders lender has 45 days from the date of ratification to find him a loan. If they can’t do so within those 45 days, they can extend that time period for another 30 days.

Notice that I highlighted “date of ratification.” Whether you settle in 30 days, 6 months or 9 months, the financing contingency usually starts when you sign the contract and it’s then signed by the builder’s rep.

But – and a very important “but” – if you were to do anything to adversely affect their credit, you could lose the financing contingency time period and could be in default (aka lose your $20K deposit).

To answer the second part of that question, the typical interest rate lock is done 30, sometimes 60 days before settlement. If you would like to lock it in for longer, you should check if it’s possible with your particular lender. Even if it’s possible, you will most likely have to pay a point(s) upfront to do so. (One point is equal to one percent of the loan amount)

If you’re 6 months out from settlement, you may have to wait 4 or 5 months before locking in your rate. Yes, that can be a gamble, but it’s the price you pay for buying new construction.

Which leads me to the third question…

Even if rates go up between now and when your new home is delivered, you may still be responsible for buying the property. And if you don’t move forward with the purchase, you may be in default and could lose your deposit.

Now before you take any of what I just wrote as gospel, let me give you the mandatory disclaimer: 

I am not a lawyer nor a loan officer/lender – this is not intended as legal advice nor guidance – every new home builder’s contract is different – every lender’s guidelines and offerings are different – check with your Buyer’s Agent/Realtor, your loan officer/lender and others for guidance.

***If you are interested in new construction in the Northern Virginia area, contact me before you head out to new home sales centers – danilo.bogdanovic@gmail.com – 703.582.6900. You need to have your own Buyer’s Agent representing and guiding you through the process. Remember – the builder’s sale rep works for the builder – NOT you. And your Buyer’s Agents/Brokers fees are already built into the sales price so it’s of no additional cost to you.






Tags: financing contingency, future interest rates, new construction financing, new construction loan

Dulles Airport Impact Overlay District Disclosure Requirements

December 15, 2009 by Danilo Bogdanovic  
Filed under Buyer Resources, Seller Resources

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Several of you have asked me about the Dulles Airport Impact Overlay District and any required disclosures. To best answer your question, my broker and I spoke with the Dulles Area Association of Realtors (DAAR) about the subject. Here is what DAAR had to say…

As a follow-up to our discussion this afternoon, the attached section of the Loudoun County Zoning Ordinance states that Homeowners Associations are required to make disclosure if the property is in the Airport Impact Overlay District.  This would require a home being resold within a particular subdivision that has an HOA to provide the disclosure as part of the HOA “Packet” that is transferred to new owners.  As you know, the rules covering subsequent disclosure are in the Virginia Property Owners Association law.   The county ordinance also clearly states that all deeds of conveyance are required to have the disclosure. Since the county ordinance states that all deeds of conveyance must contain the disclosure that covers all transactions for properties that do not have an HOA.


A great tool created by the Washington Airports Task Force for buyers and the real estate community is “The Homebuyer’s/Broker’s Guide to Compatible Land Use Around Washington Dulles International Airport” found under http://www.washingtonairports.com/noiseandlanduse/homeownersguide.htm.  The intent of the guide is to assist potential homebuyers and the real estate community in assessing the effect of aircraft noise and flight operations on homes in areas close to Washington Dulles.   You may also find useful a presentation conducted before DAAR members last month by the Washington Airports Task Force on this issue.


If you or your clients would like to determine whether a particular property lies within the AID, visit Loudoun County’s mapping system at http://gisinter1.loudoun.gov/weblogis/default.htm An address can be typed in and determination made as to whether the property lies in any type of overlay district (ie Historic, Mountside, etc.)


If there are further questions about flight activities in or around Dulles, contact:


Anita Kayser, Director, Washington Airports Task Force anita@washingtonairports.com, Phone: 703-572-8714, Address: 44701 Propeller Court, Suite 100, Dulles, Virginia 20166

If there are further questions about the AID designation within the Loudoun County Zoning Ordinance, contact:

Loudoun County’s Zoning Hotline at 703/777-0118.  They are really great about getting back to you within 24 hours.

In addition, check out the Loudoun County Zoning Ordinance that covers this subject (click here if you do not see the embedded document below)…



Loudoun County Dulles Airport Impact Overlay District Disclosure Requirement –

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Tags: airport impact overlay district disclosure, dulles airport, dulles airport impact overlay district

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