3 Virginia Wineries to Visit This Weekend

When you think of vast vineyards and amazing wine you probably picture them nestled into the Blue Ridge Mountains or the rolling hills of the Piedmont region; Hampton Roads and Coastal Virginia typically don’t come to mind. Allow me to change that and introduce you to some amazing wineries on the coast! Most viticulturists agree that having the right soil improves your chances of growing award-worthy wines. Virginia's soil is notoriously tricky, but when you cultivate it just right the crop results in a rich beauty that tips its hat to the land itself. The wine game in Virginia has expanded exponentially in the last 50 years, with the number of vineyards growing from just 6 in 1979 to over 300 with 2,500 acres designated for perfecting the growth of grapes. Along the coast there are dozens of award-winning wineries, as well as an abundance of yummy seafood for pairing with it. Here are 3 wineries that should definitely make your list of things to do this weekend: Williamsburg Winery Williamsburg Winery https://www.facebook.com/WilliamsburgWinery/ It seems fitting that first up on the list is a winery located at the sight of the very first attempts at wine-making in the new world. The land has been settled since 1607; however, the owners didn't break ground and really start growing grapes until 1985. Williamsburg Winery is home to their vineyard, winery, restaurant, and a charming 28-room European-style inn. Sample their vintage wines as you escape reality for a few hours or the whole weekend! Tours and tastings are offered at a fee every day except for designated holidays!   Chatham Vineyards on Church Creek  Chatham Vineayards https://www.facebook.com/profile.php?id=100063701194905 Tucked away on the Eastern Shore of Virginia, this 20-acre, family-run vineyard and winery is worth the drive (and the toll) over the Chesapeake Bay Bridge. From the scenic views and handpicked and sorted grapes to the quaint old farmhouse inn on the property, your senses will be dancing as you sip on their vintage selections and cheese pairings. They offer tastings daily from 10am - 5pm, April-December.   Hampton Roads Winery Hampton Roads Winery https://www.facebook.com/HamptonRoadsWinery  Nestled just south of Surry County near the James River, White Oak Farms is the location of their winery as well as home to their cattle farm. Rich in history, this land was first used to raise horses for the New York City carriage trade, and has flourished into a lush land where grapes grow, wines flow, and their cattle roam. Their winery offers wine tastings Thursday – Monday, 11:30am – 6:00pm, as well as offering up different cuts of their red angus beef for purchase. Be sure to take a few extra moments and pose with the world's tallest goat tower. No matter where you choose to go this weekend Virginia is full of in amazing views, hidden gems, and a rich history. Make sure to take the time to soak it all in.            

VA Buyers Can Now Pay for Termite Reports & Repairs!

What is a Termite Inspection on a VA loan and who is responsible for paying for it? With the competitive market we are currently experiencing, home prices have increased by 32.6% from this time last year. Before you purchase a home, you want to know the facts about the pests that might be hanging out, living rent free! If you elect not to have an inspection how would you know about the critters potentially occupying the crawl space, attic or even on a slab? Regular home inspectors are not always trained to spot termites or previous damage, so a licensed termite inspector is usually required or at minimum recommended.  How VA Loan Pest Inspection Works A VA pest control inspection is conducted by having a licensed inspector search the home to look for any termites or pests. They search for any damage that the pests are the source of. If your inspection finds evidence of termites or pests,  you may require an additional inspection.  Clear termite letters are not required if you live in the states of: Wyoming Oregon Wisconsin South Dakota Maine Minnesota Alaska Colorado Idaho Montana North Dakota What About Other States? United Atlantic Mortgage is licensed in North Carolina and Virginia, therefore the inspection and clear letter are ALWAYS required. Most states DO require an inspection. You should always check the requirements for the state AND county in which you are purchasing.  Who Pays for the Inspection? Previously, Veterans could not be charged for the required termite inspection and the seller, realtor, or lender may pay for it. Effective June 15, 2022, the veteran borrower can now be charged and pay for the termite inspection according to VA Circular 26-22-11. Keep in mind that the veteran isn’t required to pay for the inspection but rather is allowed to pay. You may not need to pay for the pest inspection if it is already going to be paid by any other party to the transaction. In addition, the veteran is allowed to pay for any required repairs resulting from active and/or previous termite damage. Keep in mind this can be a negotiation point at the time of your offer to purchase. Do Termite Inspections Expire? As a requirement to meet VA standards, Termite letters are only valid for 90 days.  Why a Pest Control Inspection Is Important First, to reduce any structural damage that may be found. Second, a lender will not lend on a property with active termites or any damage that has not had a proven treatment prior to purchase. You’ll maintain the property value by ensuring that there aren’t any pesky pests or termites lurking in the dwelling. Having peace of mind, knowing there aren’t bugs crawling around inside your home causing damages that you are aware of. 

6 Priorities to Consider When Buying a Home

Buying a home can be a very exciting but also daunting task. You may find this process easier to tackle by creating a list of priorities to focus on. Here are the six priorities we believe to be focal points that break down the enormity of home buying into smaller, more manageable tasks. Find a local broker or lender  Not all lenders or brokers are a fit for you. Be picky and do your research prior to choosing a lender or broker. You want to ensure the financial institution you look into offers the loan product you want to utilize such as VA, Jumbo, Non-QM, 100% Financing, VA, VHDA, etc. Wondering what questions are good questions to ask your lender? Read our blog “What Questions to Ask Your Lender” and make sure you receive answers you do not only feel confident in, but also understand. Education is key during the borrowing process. Ensure that the financial institution you decide to utilize informs you throughout the process and educates you every step of the way. Do not borrow blindly. This is a large purchase, oftentimes the largest you will make in your lifetime. Do not be afraid to ask questions because a great lender will have your best interests in mind at all times guiding you through loan products, making recommendations to benefit you long term, and will check in on you regularly providing information, answers, and explanations when needed. Get preapproved before house shopping   We cannot stress this enough, but, PLEASE get approved prior to beginning your home shopping experience. Okay, yes, it’s an extra step in the process but trust us you want to do this. How disappointing would it be for you to go see a home, fall in love with it, and decide to put an offer in, only to get approved for under the asking price? Receive a preapproval prior to house shopping so as to avoid this kind of let-down. Getting preapproved is easy! Most loan companies and institutions have online forms that can be quickly filled out and will generally be followed up with a phone call. Visit our apply now page to take the step towards obtaining a preapproval with us!  Just to ensure the preapproval process goes smoothly and efficiently, please have on hand the following information:   Identification  Income Verification Debt Statements Proof of Assets  Lastly, it is a good rule of thumb to not make any major lifestyle changes during this process such as large purchases (cash or credit), opening new lines of credit, depositing large sums of money into your account (venmo dumping, etc.) that are not regular payments such as your paycheck.   Establish a budget  Start preparing a reasonable budget for your purchase by determining what is financially feasible and what is not. Ensure that you incorporate a cushion in your budget to account for closing costs, Earnest Money Deposits, and other costs such as inspection and appraisal fees. Do your research to gauge market value of inspection and appraisal service fees and know that closing costs are typically 2-3% of the purchase price but can vary depending on various factors. When establishing a budget for purchasing a home, also consider what you are willing to pay monthly as a mortgage payment. Decide upon an ideal mortgage payment and the highest you are willing to pay per month. This will help determine which loan product or loan term will best suit your financial needs.  Make a list of your wants and needs It is quite easy to get caught up in the whirlwind that is buying a home. By making a list of your wants and needs you are better able to establish which home is going to be the right fight for you. Going into the home buying process knowing what you are willing to negotiate or compromise on and what you must have, will narrow your pool of options. Time is money in the real estate and mortgage industry and we want to make certain you are fully prepared going into the search. Consider the neighborhood and location, size of lot, year the home was built, bedrooms, bathrooms, amenities, etc. when narrowing down your list. Prioritize these wants and needs as well so you know whether a fourth bedroom is more or less important than a bonus room or office. This way you can sift through properties quickly and find the one that gives you exactly what you need and more. Set reasonable expectations Finding the perfect home for you does not happen overnight. Being honest with yourself during this step of the process is critical. Unless you are planning on having an unlimited budget, odds are you will have to compromise on one or more things. Not all homes will be new builds, some may need a little love and cosmetic upgrades. Are you willing to take on this task and does it fit into your budget? Managing expectations in the real estate market is hard. You may be faced with a 10-plus offer situation on a home you really love. Is offering over asking something you are able to do? If so, by how much? Take into consideration the timeline. Are you in a position to have a longer escrow period and closing date or do you need the process expedited because you are expected to be moved in X amount of time for your new job or position? All of these points come into play when setting expectations during the home buying process. Please be forthcoming with yourself but also kind. This is not meant to be a step in your life that brings you stress but new beginnings. Be patient and think everything through.  Find a trusted realtor  Lastly, find a realtor who works with you and for you. Your choice in a realtor should coincide with your goals for homeownership. Look for an agent that you get along with very well and communicates with you effectively. You will be communicating with each other for the next month at the very least! Make sure this is an individual you can listen to, feel comfortable being candid with, you feel heard by, and most importantly has your best interest in mind at all times. Take into consideration their prior experience. Who taught them their trade and what kind of experience will this agent provide you? Make sure that you ask them about the area you are looking to move to. You want an agent that knows the location like a local and can guide you knowledgeably. When looking into their references, do not just go by word of mouth. Search through their online reviews. You want a well-rounded opinion before deciding. Ask them about their fees. Do they charge an extra percentage for commission? How are they paid? DO NOT let any realtor or agent push you around. In a market that is constantly changing, some real estate professionals will just look to make a quick sale and commission and push you into a home and contract you are unhappy with. Check if they can adapt to your viewing needs and not just look through their own personal perspective. Remember, you are the average of those you spend your time with. The same goes for the work environment. Look at a realtors team, their reviews, and who they are as it could be a determining factor. Lastly, check their negotiating skills. Ask for examples of negotiations in past sales. What did they yield?  We hope that you have taken away at least a few pieces of advice to help your home buying journey! Information is power - especially when it comes to purchasing a home. Now, good luck and happy house hunting!

Is Homeownership Still the American Dream?

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings out - success, freedom, and a sense of prosperity - are universal. That's why, for many people, homeownership remains a key part of the American Dream. Your home is your stake in the community, a strong financial investment, and an achievement to be proud of.  A recent survey from Bankrate asked respondents to rank achievements as indicators of financial success, and the responses prove that owning a home is still important to so many American today (see graph below): As the graph shows, homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.  That could be because owning a home is a significant wealth-building tool and provides meaningful financial stability. The National Association of Realtors (NAR) explains: "Homeownership builds financial security. With 65.5% of Americans owning homes, the net worth of a typical homeowner is nearly 40 times the net worth of a non-owner." There are other ways your home acts as more than just a roof over your head, too. The Mortgage Reports highlights a few of the many benefits homeowners enjoy, including: Your equity (and wealth) grows through home price appreciation. Your housing costs are fixed - and that can help combat rising costs from inflation. You'll have greater privacy and the opportunity to customize your living space.  Plus, homeowners tend to be more active in their community. Like NAR says: "Living in one place for a longer amount of time creates and [sic] obvious sense of community pride, which may lead to more investment in said community." What Does That Mean for You? If your definition of the American Dream involves greater freedom and prosperity, the homeownership could play a major role in helping you achieve that dream. When you set out to buy, know there are incredible benefits waiting for you at the end of your journey. You'll have a place you can call your own. feel most comfortaable, and grow your wealth. First American puts it best, saying: "Homeownership remains central to the pursuit of the American Dream. It is a critical driver of economic mobility, delivering financial and social advantages..." Bottom Line Buying a home is a powerful decision and a key part of the American Dream. And if homeownership is part of your personal dreams this year, let's connect and start the process today!