Second Liens Roadblock for Short Sales

Second mortgages have become one of the biggest roadblocks to closing short sales.

There are about 450,000 properties in some stage of the foreclosure process with at least one junior lien, according to real estate research firm CoreLogic. These second liens are a primary challenge for Freddie Mac, said Mark Johnson, who oversees short sales for Freddie.

Holders of second liens have little left to lose so some of them are willing to get in the way of a deal in hopes of being thrown a bone, said Jon Goodman, a real-estate lawyer and investor in Boulder, Colo.

Source: The Wall Street Journal, Nick Timiraos (11/27/2010)

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Foreclosure Crisis Slowing Sales

The foreclosure mess is making it harder for banks to sell properties. ForeclosureRadar, which tracks foreclosures in five Western states, says the number of properties coming to auction in Arizona, California, and Nevada has declined by more than 30 percent.

Investors are backing away from sales because they fear that the properties they buy will be tied up in an investigation, says Sean O’Toole, CEO of Foreclosure Radar.

O’Toole believes the problem is short-lived and ultimately will be settled in favor of the banks. “The fear that has been created in based more in hype than in law,” he says.

Source: CNNMoney.com, Les Christie (11/29/2010)

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Title Insurance: More Important Than Ever

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Understanding the tenets of title insurance is especially important considering the turmoil in the real estate industry.

Title insurance is intended to protect the insured from improper titling, including defects in foreclosure proceedings, forgery, or impersonation or cases in which no title is legally conveyed. Other defects are partial, such as a neighboring fence or garage encroaching on the insured person’s property.

The title insurance industry recently set down strict guidelines for when and if they will insure a title to a property on which there has been a foreclosure.

The buyer should be equally vigilant, insisting on a 60-year search and paying for an owner’s policy as well as the lender’s policy that the bank will demand.

Source: Washington Post, Harvey S. Jacobs (11/27/2010)

The Charles Drew Community Center

Charles Drew Community Center
3500 23rd Street S.
Arlington VA 22206
Contact Number: 703 228 5725

The Charles Drew Community Center is an opportunity for elementary, teen and adult aged residents where they can engage in recreational and fitness activities without having to stray away from the community of Arlington.

Facilities of the Charles Drew Community Center:

  • Enclosed Playground
  • Multi-purpose Room
  • Gymnsium
  • Rectangular Field
  • Basketball Courts

The Charles Drew Community Center also ensures a handful of schedule programs for the community center users to choose from:

Elementary Afterschool:
Monday, Tuesday, Thursday and Friday: 3pm to 6pm
Wednesday: 1:30pm to 6pm

Teen:
Monday to Friday: 3pm to 6pm

Teen and Adults Basketball and Game Room:
Monday to Friday: 6pm to 9pm

Aerobics:
Tuesday: 6pm to 7pm

Hand Dance:
Wednesday for Beginners: 6:30pm to 7:30pm
Wednesday for Intermediate: 7:30pm to 8:30pm

The Charles Drew Community Center hours:
Monday, Tuesday, Thursday and Friday: 3pm to 9pm
Wednesday: 1:30pm to 9pm
Weekends Closed

The Dawson Terrace Community Center and Park

Dawson Terrace Community Center and Park
2133 N. Taft Street
Arlington VA 22201
Contact Number: 703 228 1805 and 703 228 6525

The Dawson Terrace Community Center and Park offers the use of their facilities for the community’s recreational and social needs.

Facilities of the Dawson Terrace Community Center:

  • Picnic Area
  • Charcoal Grills
  • Multi-purpose Field for the Youth
  • 2 Basketball Courts
  • Volleyball Court
  • Nature Trails
  • Playgrounds

The Dawson Terrace Community Center and Park is open from Sunrise half an hour after Sunset excluding facilities with lights.

The Gunston Community Center

Gunston Community Center
2700 S. Lang Street
Arlington VA 22206
Contact Number: 703 228 6980

The Gunston Community Center offers recreational, educational and social activities for the community users through their well equipped facilities:

  • Multi-purpose Room
  • 3 Meeting Rooms
  • Game Room
  • Art Studios
  • Playgrounds
  • Gymnasium
  • Basketball Courts
  • Outdoor Tennis Courts
  • Fitness Room
  • Baseball and Softball Diamond
  • Soccer Fields
  • Picnic Area

The Gunston Community Center highlights their well furnished fitness room that was included during the 2002 renovation.

Some Programs Offered:

  • Badminton
  • Table Tennis
  • Basketball
  • Pre School

The Gunston Community Center hours:
Monday to Friday: 2pm to 9pm
Saturday: 9am to 4:30pm
Sunday: Closed

The Arlington Mill Community Center and Senior Center

The Arlington Mill Community Center and Senior Center offers a variety of educational and recreational activities suitable for both young and old while promoting social interaction within the community. While the community center is currently closed for extensive renovations till 2013, the Arlington Mill Community Center and Senior Center is working towards providing its community with better facilities and with a larger program of activities to engage more residents.

Facilities at the Arlington Mill Community Center and Senior Center: Arlington Mill Community Center

  • Gymnasium
  • Changing Rooms
  • 3 Multi-purpose Rooms
  • Meeting Rooms
  • Game Room
  • Arts Studio
  • Computer Room
  • Children’s Playground
  • Basketball Court
  • Library
  • 2 Classrooms for Programs
  • Public Health Outreach Room
  • Teen Lounge
  • Senior Lounge
  • Work Area
  • Storage

Educational Programs to be offered at the Arlington Mill Community Center and Senior Center:
• Computer Classes
• Language Classes
• Citizenship Classes
• Health Education
• Immunization
• Nutrition Education
• Parenting Classes
• Early Child Development
• Pre-School
• Elementary after School

The renovated Arlington Mill Community Center and Senior Center will also be adding a plaza that will be used as an outdoor classroom or meeting room where community events can also be held such as art shows and farmers markets, pedestrian connections and a loading dock. The new 2 building community center is also expected to house 192 rental units upper floors, with 61 of them as affordable housing units on the at the back, retail stores and a 2 level underground parking for residents and center users.

Arlington Mill Community Center and Senior Center
4975 Columbia Pike
Arlington VA 22204
Contact Number: 703 228 7790

The Barcroft Sports and Fitness Center

Barcroft Park
Baseball field at Barcroft Park

The Barcroft Sports and Fitness Center offers the entire family with a selection of fitness programs that they can participate in with its amenities.

Facilities of the Barcroft Sports and Fitness Center:

  • Fitness Room
  • 1 Basketball Court
  • 2 Tennis Courts
  • 5 Baseball Fields
  • Volleyball Court
  • Handball Court
  • Paved Trails
  • 2 Playgrounds
  • Wellness Studio
  • Multi-purpose Gymnasium
  • Gymnastics Area
  • Boxing Area
  • Lockers
  • Showers
  • Changing Rooms
  • Observation Deck
  • Towel Service

The Barcroft Sports and Fitness Center offers membership programs as well as drop in programs.

The Barcroft Sports and Fitness Center Playgroup (Children of ages 5 and below)
Tuesdays and Thursdays: 10am to 12noon
Fee: $3.00/day for adults (Free for members)

Open Gym for Teens
Monday to Friday: 3pm to 6pm
Monday and Friday: Soccer
Tuesday, Wednesday and Thursday: Basketball

The Barcroft Sports and Fitness Center hours:
Monday to Thursday: 8am to 10:30pm
Friday: 8am to 9pm
Saturday: 8am to 8pm
Sunday: 11am to 9pm

Barcroft Sports and Fitness Center
4200 S. Four Mile Run
Arlington VA 22206
Contact Number: 703 228 0701

The Carver Community Center

The Carver Community Center is an opportunity for children, teens and adults to engage in cultural, fitness and social activities through the programs offered at the center’s facilities.

Facilities of the Carver Community Center:

  • Multi-purpose Room
  • Meeting Room
  • Game Room
  • Gymnasium
  • Playground
  • 3 Outdoor Tennis Courts
  • Basketball Courts
  • Soccer Field

Listed below are the programs offered at the Carver Community Center:

Cultural Arts Program:
Monday to Thursday: 10am to 2pm

After School Elementary:
Monday to Friday: 3pm to 6pm

Teen:
Monday and Wednesday: 6pm to 9pm

Basketball for High School and Adults:
Monday to Thursday: 6pm to 9pm
Friday: 7:40am to 9pm

Game Room (Pool Tables, Foosball Table and Table Tennis Table):
Monday to Friday: 6pm to 9pm

Community Aerobics:
Monday and Wednesday: 6pm to 7pm

Club 13 Card Club:
Tuesday and Thursday: 2pm to 9pm

Carver Community Club hours:
Monday to Fridays: 9am to 9pm

Carver Community Center
1415 S. Queen Street
Arlington VA 22204
Contact Number: 703 228 5706

James K. Polk Elementary School District

James K. Polk Elementary School is located at 5000 Polk Avenue in Alexandria, Virginia 22304. The phone number is Tel: 703-461-4180 / Fax: 703-751-8614. James K. Polk Elementary School was built in 1965. It is located on the west side of the city and is situated on a 13 acre campus. Its most recent renovation occurred in 1994 and included a new library, office, computer lab, wired classrooms and a secured main entrance. Polk has its own school constitution, Polk student pledge, and student designed school flag.

Check here to find homes by school district.