Prince William County FY2014 Budget Choices

I was reviewing the Prince William County budget report FY2014 Budget Choices by County Executive Melissa Peacor, and noticed several items worth reporting on this blog.  I lived in Manassas until I was 25 (1965-1990).  I worked for the Prince William County Police Department & Sheriff’s Office for 13 years (1990-2003).  I can verify the culture of budget accountability is to trim every dollar possible from yearly budgets to avoid issuing higher tax rates.  But this year is different.  Corey Stewart, Chairman of the Prince William County Board of Supervisors wants to leave property taxes at its current rate of $1.209 per $100 of assessed value.  John Jenkins, Neabsco Magisterial District Supervisor wants to increase the property tax rate to $1.2976 per $100 of assessed value.

Prince William County, Virginia Historic Highway Sign

Prince William County Public Schools will receive 56.75% of the overall FY2014 budget. This is an increase from 48.7% of the overall FY2013 budget. The geographical location of Prince William County makes it home for many commuters having employment relationships with the Department of Defense. Sequestration of the federal budget could cause an estimated 7,000 residents to lose their jobs, and become the deciding factor for the adopted tax rate for FY2014.

The Prince William County Board of County Supervisors (BOCS) has elected to keep the tax rate flat for the last 10 years.  This makes any increase in property taxes surprising.  Corey Stewart wants budget cuts of 9.6 million in discretionary spending, while John Jenkins says it’s necessary to increase the tax rate to $1.2976 per $100 of assessed value.  This is a 10.5% tax increase, and would raise the average tax bill by $29 per month.  Mr. Jenkins (Neabsco District Supervisor since 1982) cites the need to raise taxes to replace aging infrastructure, construct 9 public safety communication towers, replace an aging fleet of county vehicles, provide lighting for county recreation fields which now run on limited schedules, and provide a 4% increase in county employee pay which was frozen in 2007.  The proposed tax increase would also avoid the spending cuts proposed by Corey Stewart.

John Jenkins, Prince William County Board of Supervisors

John Jenkins (D) Neabsco District Supervisor recommends a tax rate increase for FY2014.

If the FY2014 tax rate remains flat, discretionary cuts for human services programs would cut funding in these areas: (1) public health and human services (2) family and community services (3)  senior  citizen services (4) health programs for women and children (5) free health clinics (6) chronic treatment services.  John Jenkins hopes to avoid these cuts as well as a reduction in spending for parks and recreation, public schools, public safety, and libraries.  The higher proposed tax rate will generate about $19 million in more revenues which Supervisor Jenkins would use to hire 25 more police officers for $3.1 million, and 25-30 more fire & rescue technicians for $2.75 million.  Other uses for the increased revenue include the purchase of new voting machines for $2.1 million, and $2.2 million spent on courthouse security upgrades.

Focus of FY2014 Budget

During 2012 the Prince William County BOCS adopted the 2013-17  Five Year Plan (County Resolution 12-514) to provide guidance for budgeting.  This plan includes a 4% tax increase for each year for covering funding decisions made during past budget agreements.  The guidance of the five-year fiscal plan have led to these measures to create the FY14 budget.

  1. Continue revenue sharing with Prince William County Public Schools at 56.75% of the overall budget.
  2. Maintain the strategic priorities of economic development, transportation initiatives, and public safety.
  3. Maintain the bond rating of AAA from Standard and Poor’s, Moody’s, and Fitch.
  4. Do not provide local funding for discontinued state and federal programs.
  5. Identify critical unmet needs and funding options.
  6. Use risk scoring methods to identify budget priorities.

Considerations for Adopting a 2014 Budget

  1. If tax rates remain flat the FY2014 budget will fall short by $22 million.
  2. Public Safety in FY2014 will be 22% ($239 million) of overall expenditures.
  3. The FY14 budget for the Police Department is $80 million.
  4. If discretionary cuts are made the Police Department could lose more than $9 million.
  5. The Human Services FY2014 budget has 57% discretionary spending.
  6. Prince William County median income grew by 9.1% ($7,903) from 2007-2011.
  7. The average real estate tax bill from 2000-2007 increased by 40%.  The lowest in Northern Virginia.
  8. Current population (413,396) has increased 47.21% since 2000 requiring infrastructure improvements.
  9. Households with registered students in Prince William County Public Schools is 41.9%. This is a 43% increase during the last 10 years.
  10. 3% annual growth in median income since 2010.

Discretionary Spending Cuts in the Flat Tax Rate Plan

Budget:        FY2014    FY2015    FY2016    FY2017    revenue loss

County:         $9.1M      $19M        $29.7M    $40.7M        $98.7M

Schools:        $12M        $25M        $38.9M   $53.6M         $129.5M

Using a flat tax rate the total in budget cuts through FY2017 equals $228.2 million.  It appears impossible for the Prince William County Government, and Prince William County Public Schools to work with these revenue losses without a noticeable decline in services, education, and public safety.  I attended schools in Prince William County (Manassas) for 12 years.  During this time (1971-1983) I remember discussions involving user fees for certain electives, activities, and athletic programs to avoid raising taxes.  Current discussions include the accounting setback of funding capital improvement projects usually requiring bond referendums.  Another example of a budget culture in Prince William County of doing more with less available funds.  I am a fiscal conservative.  But maintaining flat tax rates will not work while growth requires occasional revenue increases to fund capital growth projects.  These tables provide a detailed explanation supporting tax increases for FY2014:

Fy2013 Adopted Average Tax Bills (lowest to highest)

             Jurisdiction       Tax Rate    Tax Bill    Median Income

  1. Prince William     3.8%         $3,507          $95,146
  2. Loudoun                 4.2%         $4,961          $119,134
  3. Fairfax                     4.8%         $4,913          $105,797
  4. Arlington                5.3%          $5,043         $100,735
  5. Alexandria             5.8%          $4,537          $82,748

Growth Rate (lowest to highest) of Real Estate Tax Bill (2007-2012)

  1. Prince William           1.4%
  2. Fairfax                           1.8%
  3. Loudoun                       2.4%
  4. Alexandria                   7.3%
  5. Arlington                      14.7%

The above numbers show yearly flat tax rates have kept Prince William County at the bottom of tax collection in Northern Virginia since 2007.  If county services are expected to compare to surrounding jurisdictions it will take increased tax rates to avoid quality-of-life issues in our communities.  Corey Stuart’s tax cut recommendations aren’t the product of wasteful spending.  It’s the exact opposite of the spending abuses of the federal government.   I’ll illustrate how little tax payer dollars are wasted in Prince William County.  During 1999 I was conducting a murder investigation for the Prince William County Police Department when I purchased a bottle of water traveling to California to conduct a suspect interview.  The $2 reimbursement listed on expense report was denied after ruling the purchase unauthorized.  My thoughts immediately lead me to question why I continued to work for Prince William County.

I firmly believe the culture of doing more with less for the sake of maintaining a flat tax rate for the past 10 years needs to change occasionally.  I observed respected county employees leave the work force every year when pay increases and department budgets slashed.  I always thought losing experienced and talented county employees wasn’t worth the near-term cost savings.  Supervisor John Jenkins has spent decades in the service of Prince William County as the Neabsco District Supervisor.  He  also mentioned the loss of experienced employees after stopping merit pay and cost of living increases as a talking point for the FY2014 Budget discussions.  While I was a county employee he was viewed as cautious and forward thinking when the discussion involved budget matters.  As an example, when funded positions in the police budget went unfilled it was John Jenkins demanding the immediate hire of new officers.  His position on the FY2014 budget leads me to think unless the tax rate is increased Prince William County will operate with a less than completely functioning government for meeting the current and forward needs of citizens.  If he thinks property taxes must increase to meet basic infrastructure demands I believe it is imperative to raise tax rates.

Corey Stewart, Chairman, Prince William County Board of County Supervisors

Corey Stewart, (R) Chairman, Prince William County BOCS wants a flat tax rate and budget cuts for FY2014.

The wildcard of raising taxes during FY2014 rests with sequestration of the federal budget. If this occurs Prince William County  could lose an estimated 7,000 jobs.  Raising taxes would be tough on those affected by sequestration.  So I understand BOCS Chairman Corey Stewart’s thoughts on cutting taxes.  But the revenue losses would cause a noticeable decline in local services, and meeting the demands and expectations of public schools .  Improving the quality of life in Prince William County demands a tax increase. If tax cuts are made citizens should simply expect a lower quality of government services.  Prince William County residents should consider the election campaign of Cory Stewart in 2013 for Lieutenant Governor.  If he is elected he will not oversee his budget recommendations.

The Prince William County BOCS will announce a proposed tax rate for FY2014 on February 21, 2013.  Adoption of the FY2014 budget is scheduled to occur on April 24, 2013.

Sources:  Prince William County Office of Management and Budget

FY2013 Budget, FY2013 Budget SummaryFY2013-2018 Capital Improvement Projects, Unmet Community Needs, 2013-2016 Strategic Plan

About the author: Dwayne Moyers is a Prince William County native, fiscal conservative, and full-time real estate agent with his wife Maryanne Moyers. Visit them at www.TheMoyersTeam.com, Homes in Woodbridge, Lake Ridge, and Manassas, and Homes in Bristow, Gainesville, and Haymarket.

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The Promenade at Virginia Gateway Town Center in Gainesville

The Promenade at Virginia Gateway Town Center in Gainesville will look like Spotsylvania Towne Centre in Fredericksburg, and Stonebridge at Potomac Town Center in Woodbridge. Several of the same retailers will conduct business in all three town center shopping locations. The Peterson Companies are developing the Promenade at Virginia Gateway, and expect opening the project for business during Fall of 2013.  Retailers coming to conduct business include Ann Taylor Loft, Charming Charlie, White House/Black Market, Soma Intimates, and a Regal Theater venue with 14 movie screens.  Restaurants include Bar Louie, LaTagliatella Italian Restaurant, Nando’s Peri Peri, and Pinkberry.

Promenade at Virginia Gateway Town Center will be a 300,000 square foot retail center built as a pedestrian shopping venue with streets, and a plaza designed for special events and entertainment.  The mix of upscale dining, entertainment, and retail businesses is designed to offer a different shopping experience for residents living in Western Prince William County.  The Virginia Gateway Town Center already has more than 1 million square feet of mixed use commercial space with 2,350 parking spaces, and is designed as the elegant finish to this shopping attraction on Linton Hall Road between Lee Highway (U.S. Route 29) and Wellington Road.  Use Interstate 66 Exit 43A (Gainesville) to reach the Virginia Gateway Town Center.  Click here to view a 3D video of the Promenade.

Promenade at Virginia Gateway Town Center in Gainesville, Virginia

The design image of the Promenade at Virginia Gateway Town Center in Gainesville, Virginia. The Peterson Companies are projecting 300,000 square feet of retail space finished in Fall of 2013.

The Peterson Companies also developed National Harbor on the north bank of the Potomac River in Maryland, Fairfax Corner next to Fair Oaks Mall, and The Shops at Fair Lakes, Fair Lakes Center, and Fair Lakes East Market. Click here to access these Fair Lakes shopping venues in Western Fairfax County.

About Dwayne & Maryanne Moyers:  We serve the residential real estate needs of clients in Prince William County and surrounding jurisdictions.  Visit our website at www.TheMoyersTeam.com, and our Facebook page Homes in Bristow, Gainesville, and Haymarket.

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Quantico’s Iwo Jima Memorial Vandalized

While reading about real estate related news in Prince William County we noticed an article in PotomacLocal.com.  It reported someone had spray painted a pink line along the base of the Iwo Jima Memorial outside of the Main Gate at Quantico Marine Corps Base.  The purpose of this article is to spread the news of this incident, and to provide contact information to authorities if you can provide information which might help solve this incident.

We know the Quantico Provost Marshal-Security Battalion and Prince William County Police Department will actively investigate this matter to develop leads for suspect(s) in this case.  If there are vandalism charges related to the spray painting of this iconic memorial we expect jail time as part of a sentence. If a juvenile is involved it makes no matter to us.  We encourage anyone having information about this crime to contact Prince William County Crime Solvers if you have information which will help investigators make an arrest in this criminal case.  Call 1-866-411-TIPS (8411), or (703) 670-3700.  Rewards of up to $1,000 are given for tips leading to an arrest.

Quantico Marine Corps Base Historic District, ...

The Iwo Jima Memorial at Quantico Marine Corps Base is located at the entrance of the Quantico Main Gate at the intersection of Jefferson Davis Highway (U.S. Route 1), Joplin Road (I-95 Exit 150) & Fuller Road which leads to the Town of Quantico.

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New Stafford Courthouse interchange plans unveiled – The News Desk

New Stafford Courthouse interchange plans unveiled – The News Desk.

We attended the Courthouse Road interchange reconstruction public meeting at Colonial Forge High School.  The plans were preliminary as the project is still in the planning phase.  The issues which created the most concern are listed below.

(1)  The plan requires eminent domain of several businesses (including McDonald’s) near the current Interstate 95 exchange with Courthouse Road (Route 630) to make space for one of two new commuter lots.  The current commuter lot will be razed for highway construction, and the commuter lots on Courthouse Road, and Austin Ridge Drive will add over 500 more spaces for commuters on Route 630.  Residents felt the businesses should remain intact by moving the commuter lot to the southwest side of the Interstate exchange.

Courthouse Road Commuter Lot in Stafford County

The Courthouse Road (Route 630) commuter lot at Austin Ridge Drive.

(2)  There was opposition from development representatives of Embrey Mill.   This residential and commercial project is now under construction next to Austin Ridge.  The Embrey Mill project connects Mine Road with Courthouse Road about 1 mile west of  I-95.  The opposition to the current plan focuses on problems park and ride commuters will experience traveling east on Courthouse Road trying to reach the commuter lots.  This matches the concerns of private citizens.  Both groups would agree with a plan which moves the commuter lot from the Route 630 McDonald’s next to Wyche Road, to the southwest corner of I-95 and Courthouse Road.

Mine Road extension to Courthouse Road.

The Mine Road extension to Courthouse Road. Development of Embrey Mill and connection to Garrisonville Road (Route 610) should produce significant traffic on Courthouse Road (Route 630).

(3)  The biggest objection from attendees was changing the access for public safety vehicles to Interstate 95.  The current plan would require emergency vehicles to use the I-95 exchange from Jefferson Davis Highway (U.S. 1) at Stafford Hospital instead of the current interchange at Courthouse Road.  This would increase response times of fire and rescue vehicles leaving the Station 2 facility, and occasionally deputies assigned to the Field Operations Division of the Stafford County Sheriff’s Office.

Stafford County Public Safety Center

The Stafford County Public Safety Center on Courthouse Road between U.S. Route 1 and I-95. This building houses the Sheriff’s Office and Fire & Rescue Services. 

Stafford Volunteer Fire Department: Station 2

The Stafford Volunteer Fire Department: Station 2. Across from the Stafford County Public Safety Center on Courthouse Road.

(4)  The last item was once again about commuter lots.  There are no plans for traffic signals to regulate traffic at both commuter lots.  Attendees were told the approval of traffic signals is based on the daily number of vehicles expected to enter and exit the lots.  There were several objections to having commuter lots without traffic lights.  The best comment supported the use of traffic signals because one commuter bus releasing passengers in a commuter lot equaled 50 vehicles attempting to exit at one time.

Austin Ridge Drive in Stafford County

Austin Ridge Drive about 1/4 mile north of Courthouse Road (Route 630). The current interchange plans will develop a commuter lot on the far left of the roadway. Commercial development is also planned on the left next to the commuter lot between Austin Ridge Drive and I-95.

Click here for the Virginia Department of Transportation page for the Route 630 (Courthouse Road) and I-95 Interchange Reconstruction Project.  The link will provide the project overview, project details, and project design maps.  The cost of this project is estimated at $161.6 million, and the construction start date is scheduled for 2016 with a completion estimate of 2019.

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The Process of Obtaining a Mortgage

This article is written as a basic outline for the process of obtaining a home loan. The steps from application to signing settlement papers involves many details which can best be answered by contacting us directly.  This outline will give you the necessary framework of understanding the mortgage process before contacting a real estate agent or loan officer to begin the purchase of your next home.

(1)  Consultation with Loan Officer 

Freddie Mac & Fannie Mae Headquarters Buildings in the Washington, D. C. Metropolitan Area.

Fannie Mae & Freddie Mac are government sponsored enterprises for mortgage insurance of home loans provided by the Federal Housing Administration (FHA).  Annual percentage rates on FHA & conventional loans are determined by the level of risk determined by investors in financing mortgage securities.  

 

We have worked with several loan officers for more than a decade.  If you are ready to take the step toward purchasing a home we can can direct you to a loan officer who possesses the knowledge and abilities to find the best loan program, and execute all phases of the mortgage process in the best interests of our clients.  Finding the right loan officer is as important as using the right real estate agent.  The first discussion with your chosen loan officer will address financing needs, and require you to provide qualification information such as income, debts, and assets.  You should be ready to supply the loan officer with income statements and financial liabilities listed below.

  1. W-2 forms & tax returns for the past 2 years.
  2. Current pay vouchers with social security number, and year-to-date earnings.
  3. Bank account statements from savings, checking, stocks and bonds, retirement accounts, and money market funds.  This is necessary to verify cash reserves before and after closing.
  4. Canceled checks for recurring payments such as rent, mortgage, and child support payments.  Include proof of minimum payments and current balances.
  5. Profit & loss statements, federal tax returns, and balance sheets (past 2 years for each) for business owners.
  6. List of creditors with account numbers and current balances.  This includes monthly debts such as credit cards and student loans.
  7. Written explanations of more income such as commissions and bonuses, retirement and disability payments, social security and child support payments during the past year.
  8. Gift letters.  If you needed a third-party (usually parents) to gift the funds necessary for a down payment, the lender requires a letter verifying the gift was not a loan requiring repayment.

Besides monthly income, debts and obligations, the loan officer needs verification of your employment history, and place of residence during the past 2 years.  This also includes the amount of cash available for down payment and closing costs.  This discussion usually takes no more than 15 minutes to produce a prequalification letter.

(2)  Obtaining a Prequalification Letter

After supplying financial documents, the loan officer is able to predict a qualification range based on your credit worthiness.  You are now able to search for available homes which can be financed in your price range.  After a home search with a real estate agent   produces the home of your choice, it’s time to submit a purchase agreement with a prequalification letter to the seller.  It doesn’t make any difference if this involves an arm’s-length transaction or a new home from a builder, the process remains the same.  The prequalification letter allows the seller to check your ability to get financing and purchase the home.  Besides giving you some idea of the joint costs of monthly principal, mortgage insurance, interest, and taxes; the prequalification letter also allows you to decide the down payment, closing costs, and other terms and conditions associated with the loan.

(3)  Mortgage Application and Underwriting

Finding a mortgage with the best rates and terms requires you to speak to more than one loan officer.  We suggest you speak to 3 lenders to decide which can offer you the best lending rates through loan programs which best matches your needs.  The next step is finding 3 lenders for comparison shopping.  It’s simple.  Find the right real estate agent to represent you during the home purchasing process.  Most agents are recommended by friends, family, and coworkers.  It’s a matter of finding an agent by listening to the past home buying experiences of those you trust.  The agent recommended to you should be experienced.  This is important because they will have a short list of recommendations after using several loan officers in the past.  Like real estate agents, not all loan officers are the same.  The lenders suggested by agents will be experienced and familiar with loan programs which meet the needs of their clients.  The same is true for finding good real estate agents.  Experienced loan officers can suggest agents who are a good match for finding your next home, and representing your interests through the home buying process.  Listed below are questions to help you decide on a loan officer.

  1. Interest rates with loan programs.
  2. Closing costs of selected loan.
  3. Cost for interest rate lock, and the time frame for locking the loan.
  4. Discount fees and origination points associated with the loan.
  5. Minimum down payment for loan choices.
  6. The qualifying guidelines for loans.
  7. Penalties for prepayment of loan.
  8. Documents necessary for loan approval.
  9. Time frame for processing the loan.
  10. Issues slowing or denying loan approval.

After supplying all requested financial documents, and finalizing all necessary loan application paperwork, the lender has 3 days to give you a Good-Faith Estimate, Truth-in-Lending Disclosure Statement, and any disclosures associated with your loan choice according to the Real Estate Settlement Procedure Act The Good-Faith Estimate of closing costs covers loan origination, and settlement fees.  Expect these fees to average 3% of the sales price.  You are not committed to a home loan until you have reviewed and approved these disclosures by signature.  Once these disclosures are approved, and you have provided the lender with a ratified  contract, the lender will order an appraisal of the home to satisfy meeting the market value of the loan.  At this point the loan package is now complete, and passed to underwriting for approval.  You will begin paying loan processing fees at this point as you begin working with a loan processor until closing.

The basic review standards of underwriting is best described by using the four C’s (listed below) in the process of mortgage approval.

  1. Capacity – The analysis of comparing a borrower’s income-to-debt ratio.
  2. Credit – The statistical prediction of a borrower to meet future payment obligations.
  3. Cash – The review of a borrower’s assets after closing.  The larger the down payment, the stronger the loan application.
  4. Collateral – The appraised value of the home under contract.  Factors determining collateral value include: (a) sales of comparable homes in the immediate area (b) the size, condition, and upgrades of the home (c) location of home (d) cost to rebuild the home (e) rental income options.

Depending on the type of loan you chose a down payment of up to 20% is required to buy a home.  Less than a 20% down payment of the contract price will require you to get mortgage insurance to protect the lender.  You can lower your payment and qualify for higher price ranges by providing a larger down payment.  Click here for different loan descriptions, and this link will give you a simple description of the advantage and disadvantages of common types of home mortgages.

(4)  Satisfying Loan Conditions

A home must be in good condition to meet appraisal conditions required for loan approval.  We always recommend a home inspection  to help find lender required repairs.  Close attention to the mechanical and structural condition of the home occurs during an appraisal.  This includes the life-expectancy of the roof (3-5 years minimum for most loans), electrical wiring to follow building codes, mechanical components such as the heating and air-conditioning system(s) in good condition, and plumbing installed properly and functioning without visible signs of leaking.  During this point in the loan approval process the underwriter will verify the information on the mortgage application, and may require you to provide more information to help verify information, explain past credit issues, or correct problems discovered on your credit report.  The lender now directs the title company to conduct a title search for obtaining title insurance and protection against encumbrances attached to the home.  These include liens, easements against the interests of the property, unpaid taxes, zoning problems, restrictive covenants, and pending legal actions.  If the home is determined to be located within a flood zone the lender will also require you to get flood insurance.  Several lenders will also require a survey for property line verification.  The home inspector is paid immediately after the home inspection is complete.  The appraisal, title, and survey fees are collected at closing.

(5)  Receiving a Loan Commitment Letter

After the underwriter has approved the loan package  you will receive a loan commitment letter from the lender meaning your mortgage application has been approved.  But there are usually terms and conditions which need to be met before the loan is funded.  Items usually include proof of repaired items of deficiency, final mortgage conditions, proof of required insurance, completion of all required inspections, and certificates of occupancy on new homes.  After all conditions have been met you will receive an updated Truth-In-Lending Disclosure Statement at least 3 business days before closing.  If there are any inconsistencies (especially the annual percentage rate, and the amount of your finance charges) contact your loan processor immediately.

(6)  Closing

It’s important to select the right title company for closing.  This decision should be made when signing the purchase agreement.  Like selecting a lender, an experienced real estate agent knows the right settlement company to close on your loan, and complete all title work properly.  As mentioned above, like lenders and real estate agents, not all title attorneys, title agents, and loan processors are the same.  An experienced agent is the best person to select the title professionals who will protect you from processing mistakes leading up to closing.  You are entitled to a walk-through inspection of the home before attending closing and signing required documents.  This ensures the home has been left in satisfactory condition, and all repairs have been completed according to contract.  If the seller has not followed these contractual obligations, your agent can delay closing or arrange for the seller to deposit funds into an escrow account to cover the cost of previously agreed repairs.  Disagreements on repairs are usually settled at closing by reviewing a copy of the home inspection report, and the ratified contract including the home inspection addendum.  It’s a good idea to have these documents available for review during closing.  Also bring copies of the flood certification, good faith estimate, homeowners insurance policy, title insurance policy, and appraisal to help verify ownership requirements, and dispute accounting problems on the HUD-1.  You will also be required to provide 2 months of real estate taxes and insurance payments into an escrow account at closing.  This protects the lender by ensuring the property taxes and required insurance will be paid if you begin missing mortgage payments.

All payments including contributions to an escrow account will be documented on a HUD-1, and the closing agent will provide a copy of the HUD-1 before closing.  This is the settlement statement listing all accounting of real charges and adjustments for the buyer and seller.  The closing agent will also tell you the exact amount of funds necessary for closing. Payment is due on the closing date by cashier’s check or certified funds.  The settlement agent will also provide you with automatic payment options.  After signing your name repeatedly on loan and title documents you are now a homeowner.  The title company will complete the filing of all legal documents including land records at the courthouse.  If further details are necessary you can find a glossary of mortgage terms, and more information about the mortgage process in the Freddie Mac Mortgage Guide.

 

About the authors:  Dwayne & Maryanne Moyers are residential real estate agents in Northern Virginia (Fairfax County, Prince William County, Stafford County,  & Spotsylvania County).  Find us at www.TheMoyersTeam.com

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Hampton Oaks in Stafford County

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Residential Listing Information

  1. Listing Number:  ST7962459.
  2. Subdivision:  Hampton Oaks.
  3. Community Sports: Hampton Oaks Hurricanes Swim Team
  4. Address:  11 Arbor Lane Stafford, Virginia 22554-7641.
  5. List Price:  $335,000.
  6. Tax Identification Number:  20-P-2-798.
  7. Total Taxes:  $3,025 (2012).
  8. Year Built:  1989.
  9. Total Square Footage:  2,758  (1,988 above grade finished;  770 basement sq. ft. finished;  266 basement unfinished).
  10. Lot Size (acres/square feet):  0.20/8,560.
  11. Homeowner’s Association Fee:  $62.50 monthly.
  12. County:  Stafford County.
  13. Bedrooms:  Full Bathrooms:  Half Bathrooms:  4/3/1.
  14. Garage: 2 vehicles, insulated and finished, 462 square feet.
  15. Utilities: Public water and sewer; gas heat and hot water.
  16. Upgrades: (1) New fiberglass front door with etched side windows. (2) New 50 year roof. (3) New vinyl siding. (4) New four-season room with vinyl low-E argon gas windows. (5) New paved driveway. (6) Maintenance free exterior trim. (7) Bedroom window shutters (interior). (8) Quartz kitchen counters.
  17. Public Education:  Stafford County Public Schools.  Attendance zones: Hampton Oaks Elementary, H.H. Poole Middle School, and North Stafford High School.
  18. Commuting:  Within 1 mile there are 2 Virginia Department of Transportation  (VDOT) commuter lots with slug-lines.
  19. Visit www.TheMoyersTeam.com for information related to attractions, services, and general information about Stafford County and Fredericksburg.
  20. Visit our Facebook page Homes in Stafford, Fredericksburg, and Spotsylvania for local community and housing updates.

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The Falls at Lee’s Parke in Spotsylvania County

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Residential Listing Information:

  1. Listing Number: SP7966410.
  2. Subdivision: The Falls at Lee’s Parke.
  3. Address: 9012 Laurel Oak Lane Fredericksburg, Virginia 22407-9356.
  4. List Price: $350,000.
  5. Tax Identification Number: 35M9-375-1.
  6. Total Taxes: $2,567 (2012).
  7. Year Built: 2006.
  8. Finished Square Feet: 3,400 (2 levels finished & unfinished basement with rough-in plumbing).
  9. Lot Size: 0.37 acres/15.951 square feet).
  10. Homeowner’s Association Fee: $60.00.
  11. County: Spotsylvania.
  12. Bedrooms: 4;  Full Bathrooms: 3; Half Bathrooms: 1.
  13. Utilities: Public water & sewer; natural gas hot water heater (75 gal.) & natural gas heat.
  14. Public Education: Parkside Elementary School, Spotsylvania Middle School, and Massaponax High School of Spotsylvania County Public Schools.
  15. For attractions, services, and general information about Fredericksburg & Spotsylvania County, read about these areas at: www.TheMoyersTeam.com
  16. Click here to visit our local Facebook page containing updates for housing, transportation, and community issues occurring in Stafford County, Fredericksburg, and Spotsylvania County.

 

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