Realty World Select

Riverbend H.S. District

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Thu, 15 Oct 2009 10:20:22 -0500

Description and Features

Bedrooms:	4
Bathrooms:	2.5
Parking Spaces:	2
Lot Size:	58316
Year Built:	2005
Floors:	3

Location

Click to view map: 13012 Pipe Run Dr Fredericksburg VA 22407

Links

The Right Agent Makes All The Difference In The World

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 06 Sep 2009 09:01:30 -0500

Oh how the real estate world continues to change. A year ago the focus was on foreclosure properties and how to get into an over crowded niche. Now as 2009 starts to wind down the new niche is short sales. Short sales are a different breed but appear to be here for the next 3 - 5 years as so many homeowners are upside down in mortgages obtained during the boom. Every other agent in our market claims to be a short sale specialist or short sale certified but still I see over and over every day these so called experts handle these transactions completely wrong. The same thing happened a year ago with foreclosure properties and agents that were telling asset management companies how much experience they had and how great they were at taking care of their properties. What we saw was a huge number of properties with grass 2 feet high, mold growth due to utilities that were never turned on, homes filled with trash, properties grossly under valued by agents, and agents who got so lazy and comfortable with their business that they couldn't even take a phone call from another agent and insisted all communication be through email. Now with short sales we see many of the same problems from these so called experts. Agents who under value a property, have sellers negotiate numerous contracts even when ratified, submit evry single offer received to the buyers lender even though they should only be submitting the one that was accepted, not obtaining all the documents needed by the buyers lender which in turn either causes delay or creates the deal falling out and a homeowner ending up in foreclosure, etc.

How do we sort out the so called experts from real experts? There must be a way to sift through these agents who are ultimatly hurting our markets, business, and reputations. Our office tries to keep agents from doing foreclosure business unless they are educated on the process, and will not allow agents to call themselves short sale experts or certified unless they truely know what they are doing. Our corporate slogan is "The Right Agent Makes All The Difference In The World" and the one thing the market has taught us in the past 4 years is how true our slogan really is.

Market Shows Signs Of Life

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Thu, 11 Jun 2009 20:24:06 -0500

The following article regarding the state of the local real estate market was published in The Free Lance Star on 06/11/09 and indicates that the market may actually be showing some signs of life. It has been a long and challenging 3 years in the local real estate market so let's hope the improving trend continues!

Date published: 6/11/2009

BY BILL FREEHLING

The Fredericksburg-area housing market showed strong signs of improvement in May, according to data released yesterday by Metropolitan Regional Information Systems Inc.

There were 412 homes sold in the Fredericksburg area in May through the Multiple Listing Service. That's the most since June 2007 and a 30 percent improvement from May 2008.

The 2,525 homes listed on the market in the Fredericksburg area as of yesterday's data is the lowest total since February 2006. The area includes the city and Spotsylvania, Stafford, Caroline and King George counties.

At last month's sales pace, there was a 6.1-month supply of homes on the market. That's close to what housing experts consider the sign of a healthy balance between supply and demand. It's the lowest ratio since December 2005. By way of contrast, there was a 20.6-month supply of homes in January 2008.

Area Realtors are reporting incidents of multiple contracts being written on homes within days of the listing. That's the kind of activity that occurred during the housing boom of a few years ago.

The significant difference between now and then is the prices of the houses being sold. The median sales price in May for the area was $210,000, a 22 percent decline from last May's median.

The figure is about a third of the springtime prices from 2005 and 2006. But it's also the first time that median prices have risen above $200,000 since January.

Many warn that more foreclosures will hit the market over the next couple of years, adding to the inventory. According to RealtyTrac data being released today, all of the following localities are among Virginia's top 20 for foreclosure rates in May: Spotsylvania, Stafford, Caroline, Orange, Fauquier, Culpeper, Fredericksburg and King George. Topping the list are Manassas, Prince William and Fairfax.

It's also possible that more people who have been renting their homes or waiting out the downturn may decide to list if conditions continue to improve. And May is always a strong month for housing sales.

Nonetheless, reduced prices, lower mortgage rates and tax incentives for first-time buyers appear to be drawing people into the market. A sharp decline in building permits is helping to keep the inventory low.

Homes that sold through the MLS last month spent an average of 105 days on the market, which is the lowest total since November 2006. The average sales price was a 10 percent discount to the list price, a smaller discount than in recent months.

Distressed sales--short sales or foreclosures--made up 43.9 percent of the total sales last month in the area. That's down from 48.5 percent in April and 56.3 percent in March.

Though government-backed loans continue to make up a majority of home financing types (54.4 percent in May), conventional loans showed a bit of a comeback. About a quarter of area home sales were financed with conventional loans last month.

Cash deals comprised 14 percent of MLS home sales last month. Nearly half of the 12 sales in Fredericksburg city last month were cash deals, a possible sign of investor activity.

Social Networking Pays

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Mon, 08 Jun 2009 20:55:48 -0500

As a true skeptic I really did not buy into the social networking thing too much but at the suggestion of one of my agents I decided I would give it a try. Much to my surprise I have found that not only do I like sites such as Facebook and Twitter but today I actually received a referral from another broker out of my area as a direct result of Facebook. I have come to enjoy the networking sites to keep up with distant friends and peers, and have found it a great way to connect and re-connect. Getting actual business is just a bonus! I am sold and plan to incorporate it's use more and more into my business. The best part is I don't even need to have a lot of technical skills to use these great tools!

Can't Keep Up

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Wed, 27 May 2009 19:04:32 -0500

Modern technology... the internet, social websites, blogs, it's all so amazing. Just 20 years ago a PC was still in it's baby stages and now it is a dinosour. Today I learned some new social networking tools. I am now on Facebook, Twitter, You Tube, and of course write the occasional blog on Activerain. We now have these small net computers that are half the size of a laptop (which I already think is small), texting is a big craze (although it is still one technology that I can't seem to adjust to), Youtube allows us to post videos of everything you can think of for the whole world to see, Facebook and Myspace allow us to share everything we are doing every second of the day, Instant messaging allows us to send messages to friends and family in a split second and so on. I don't consider myself an old person by any means but I am in complete amazement how much technology has evolved just since the mid-80's. I think it's great and it makes our life much simpler but I am having a tough time keeping up with it all...

Consistant Award Winning Results

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Mon, 25 May 2009 08:31:03 -0500

Broker Dan Lesher was inducted in Realty World International's Hall of Fame at the company's annual convention in Las Vegas recently. The Fredericksburg, VA office, which opened in 2007, also was named Office of the Year, beating out more than 1,000 offices worldwide, as well as receiving the Platinum Cup award for highest number of closed units for 2008.

Also honored with the Platinum Award at the convention were local agents Stephanie Crist, Ron Chronister, Joby Cunningham, Sean Dankers, Kay Dennison, Juli Hawkins, Butch Irby, Thom Jones, Jason Krause, Linda Bruno, Jeremy McCommons, Christy Poole, Jorge Saliceti and Twila Tuxbury

Another Failed Policy Brewing

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Mon, 13 Apr 2009 17:26:08 -0500

Another failed policy is brewing. I received a letter from my mortgage lender telling me to call within 15 days to do a loan modification on my Alt A mortgage loan. Knowing that my payments are current and my income has not changed I went ahead and made the call. The representative said that they wanted to modify my loan by reducing my principal and/or my interest rate but I needed a hardship in order to qualify. After going over my history he informed me that I did not qualify but they really wanted to do a modification and if I thought I would have any kind of hardship even coming up such as a reduction in hours or pay or divorce, anything... they could modify the loan. Basically he was trying to talk me into coming up with some sort of hardship so they could rework my loan.

If Obama's bailout plan is going to encourage lenders to solicit people who are current on their loans and then encourage them to make up a hardship to modify a perfectly good loan, then we are headed for even more trouble. It is just a disgrace to think we have mortgaged our grandchildrens futures with this mortgage bailout and reward people for not paying their bills, now we are encouraging the people that are paying, to stop. When will this fiasco end???

Million Dollar Views

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sat, 28 Mar 2009 11:31:29 -0500

Description and Features

Gorgeous waterfront property on acreage with lots of recent upgrades including brand new seawall, new trex built deck, new floating dock, boathouse with lift, in-ground pool, hot tub, workshop, whole house generator, and more, more, more! This wonderful home was built for entertaining and the views are to die for! Many extras included, call for additional details!

Bedrooms:	3
Bathrooms:	3.5
Parking Spaces:	2
Square Feet:	3576
Lot Size:	48744
Year Built:	1992
Floors:	2

Location

Click to view map: 6126 South Virginia Ave Dahlgren VA 22448

Links

A Real Charmer

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sat, 28 Mar 2009 11:03:49 -0500

Photo Gallery

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Description and Features

Recently renovated and shows wonderfully. Newer siding, windows, roof, kitchen cabinetry and appliances, beautifully refinished hardwood throughout main level, all new interior paint, finished lower level with full bath would make great in-law/teen suite. Fenced rear yard with inviting paver patio and more. This one is a real charmer!!

Bedrooms:	3
Bathrooms:	2
Square Feet:	1928
Lot Size:	.18
Year Built:	1950
Floors:	3
MLS #:	OR6962277

Location

Click to view map: 212 Spicers Mill Rd Orange VA 22960

Links

Realty World's Champion

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 21 Dec 2008 14:28:38 -0600

A true champion is what our racer Dylan Poole is driving his number 2 Realty World Select cart throughout the state of Virginia! Dylan has been racing for several years now and at 9 years old has won numerous races. Realty World Select is proud to sponsor such a great kid and proud of the effort Dylan puts into each and every race! Thanks Dylan, you are a true champion!!

A True Champion

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 21 Dec 2008 14:20:38 -0600

23 Acres Near Town

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Wed, 01 Oct 2008 18:53:35 -0500

Description and Features

Bedrooms:	4
Bathrooms:	3
Parking Spaces:	2
Square Feet:	3752
Lot Size:	932619
Year Built:	2000
Floors:	2

Location

Click to view map: 19212 Mount Pony Road Culpeper VA 22701

Links

Office Site

Crisis 2008

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sat, 27 Sep 2008 14:21:25 -0500

As we sit back and look at the proposed government bailout of our financial crisis of 2008 I listen to commentators and pundits compare the financial crisis to the great depression and can't help but wonder where they studied their history. The great depression had tens of thousands of people living in tent cities, banks closing their their doors and leaving people with their life savings gone, and unemployment at nearly 30%. The crisis of 2008 has none of that and is really about a bunch of greedy and unethical lenders who have made very bad decisions and are now asking the american taxpayer to come to the rescue. Yes, we are in a crisis, and yes we are going to have to find a way to fix it but don't compare this greed to the great depression.

One Year Anniversary Celebrations

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sat, 13 Sep 2008 19:22:25 -0500

As we approach the celebration of our incrediblysuccessful one year anniversary we are rolling out a new and improved website with all the tools needed to make home buying and selling a breeze. We are also rolling out a print ad campaign and extensive internet marketing to shout out to the world that Realty World Select is selling lots of homes, and the market is not all bad for everyone. Our award winning agents have done quite well during these challenging times and most are having one of their best years since becoming a Realtor. When others talk negatively about the market we just quietly go out and sell property. We indeed have plenty to celebrate!

Over-correcting The Mortgage Mess

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Tue, 12 Aug 2008 20:24:58 -0500

It's no secret that lenders have made way too many loans that they should not have made over the last few years which has resulted in the near meltdown of the housing industry for the past 36 months. Now we are looking at government reforms and tightening lender standards that swing 180 degrees the other direction. The incredible damage is done and the never ending supply of foreclosures is not going away for at least another 24-36 months. So why are the gift programs (at least for now) being done away with? Why are lenders now requiring two (or more) appraisals? Why are underwriters verifying and verifying and re-verifying the same applicant information over and over just to get second thoughts and decline the loan days before settlement? I agree 110% that loans should only be given to people with the ability to repay them. Trying to over compensate for mistakes that have already been made is not the answer to the problem. In markets like ours where values have declined 35% over the past 18 months and thousands of homeowners will eventually face a short-sale or foreclosure when it is time to move on, we don't need to make it so difficult for the buyers to obtain a mortgage that they simply give up. The only way out of the mess we are in is to reduce inventory and get supply and demand back in balance so values can stabilize. Creating a never ending supply of hoops to jump through to obtain financing just continues to pour fuel on the fire!

Lenders and Government Over-Correcting

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Tue, 12 Aug 2008 20:13:54 -0500

Jumping Through Hoops

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 20 Jul 2008 16:10:19 -0500

As we work our way through the summer selling season I am astounded by the financing fiasco and how it continues to effect the market. There no doubt are numerous people who bought homes during the boom that really should not have been able to. And there is no doubt many lenders who had some not so scrupulous lending practices but the government has to be careful about the approach it takes in trying to rectify the situation. There are allot of good people out there that are paying their mortgages every month that are still going to be facing serious issues should they have to move. With values about half of what they were 30 months ago, unless you have a whole lotta cash in the bank or hit the lottery, how do you sell your home for tens or even hundreds of thousands less than owed and protect your credit and the ability to purchase another home? The government is now putting tighter regulations in place that is making an already difficult job of getting financing in this market even tougher. Some hoops to jump through is a good thing but too many just takes a dwindling supply of buyers and makes it even smaller therefore hurting home values even more. We are in a real mess for sure, but the damage is already done and the solution is not making financing so difficult that buyers can't buy.

Brain Surgeon or Realtor, Knowledge is King

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Thu, 12 Jun 2008 20:32:15 -0500

As a broker I get the honor of reviewing all the contracts that come into our office on a daily basis and am amazed at some of the things I see almost every day. Do agents even read the contracts to know what they say before they complete them? Many contracts look as though the agent felt that they were supposed to put something on every blank in the contract regardless if it is a paragraph or term to the contract that even applies. I am not talking about the agents in our office of course since they have contracts drilled in their heads continually. I am talking about un-named agents who are writing contracts for properties that our office has listed. Don't get me wrong here, there are some great agents and some great contract writers out there but more often than not I have to wonder why these people are not being taught to learn the contracts, what they say and how to complete them. The thing I want to know most of all is, how are they explaining the contract to their client if every other page contradicts the one before it?

Now that the frenzied market of 2004/2005 is a distant memory, it would seem the agents still around are around because real estate is their career. Proper training and knowledge should be the number one priority for every professional. A brain surgeon does not complete a surgery whithout first gaining the required knowledge. Consider yourself a real estate surgeon...

Adapt and Conquer

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sat, 03 May 2008 14:22:17 -0500

As the market continues to skid we continue to grow by leaps and bounds. I just recently returned from my first Realty World convention where our office was awarded the Platinum Cup for AGC after just months in business! It was exciting to hear that the number one agent in the Realty World system generated $4,500,000 in AGC last year alone! Our office has grown to 15 agents after just 7 months and we continue to gain market share every day. With 15 agents and only 7 months in business we are beating several of the much larger brands in our local market with two and three times the number of agents and 20-25 years in the marketplace! The doom and gloom does not go away and by most counts gets worse everyday. Everytime you turn on the news or open the paper it's more bad news about the real estate market or the mortgage industry. The business is there! Buyers are out there! You just have to adapt and conquer!!

Short "NO" Sales

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Thu, 20 Mar 2008 19:52:28 -0500

The going trend in our local market these days seems to be every sale is a short sale or foreclosure. I have done and do quite a bit of both but the short sales are starting to look like an even bigger pain in the rump now than ever. I have had 3 different short sale contracts in the last month that were good contracts with good buyers that we have actually been able to keep holding on for 5 or 6 weeks while we wait on the lender just to have the lender reject the offers and counter back over our list price. I had one house listed at $250,000 and got an offer at $240,000, the bank countered back at $280,000. The buyer walked and 6 weeks later the home was foreclosed on and put on the market at $210,000! Today I got an email from a short sale company that I sometimes use informing me that Ocwen Loan Servicing will no longer negotiate short sales at all. With these kind of practices, it's no wonder so many lenders are bellying up!!

Here we grow again

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 02 Mar 2008 17:52:12 -0600

Defying the market our office has managed to stay very busy in these challenging times. As I write this latest entry we have been open for 6 months almost to the day, and have grown from 3 agents in an 1100 square foot office to 12 agents in our new 3100 square foot office that we just finished moving into this week! As I talk to other agents about the state of the market I continue to hear how slow it is and how their companies don't offer much support and are cutting back on everything to save a dollar. Don't get me wrong, I'm all about saving a buck wherever I can but our business has been great, our agents get a ton of support and training, and we are not pinching the pennies. Our agents are enjoying some of their best times in their careers, are working hard, and getting paid what they are worth! Our success only shows that good things happen for those who work hard. We have zero slackers at Realty World Select so the Glen Gary leads go to everyone. We go through about 2 cases of coffee a week! Coffee is for closers!

Horray to the FED

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Wed, 30 Jan 2008 21:21:38 -0600

Market seems to be looking much better in the last 6 - 8 weeks and with the second rate cut in a week it looks like the FED is finally getting the message and doing their part. I still can't quite figure out why it has taken the FED 31 months to get the message. Had they stepped in a little more aggressively about 20 months ago, maybe we would not have lost so much of our value over the past two and a half years. Regrettably I don't think we are at the bottom just yet but maybe the cuts and the uptick they have created will help bring the bottom sooner rather than later.

Can't stop working

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Sun, 20 Jan 2008 17:38:40 -0600

Sunny California, here I come! Yes, tomorrow I'm heading to beautiful San Diego for a Realty World broker conference and although I am looking forward to the trip, I'm also kind of dreading leaving my work behind. It never fails, I can be slow as all get out and as soon as I plan something, I get busy. I have been very busy since around the middle of December, but over the last two weeks I have been almost too busy to keep up. Now don't get me wrong, I am in no way complaining, just the opposite. I love being busy and just hate to miss anything by being gone. I have a great group around me and I know they will take care of everything while I'm away but I also know being the workoholic that I am, I won't be able to relax and enjoy myself while wondering what I'm missing on the other coast. I don't know if I'm the only nut out there that goes through this but after having a slow forth quarter to end 2007, I'm excited about how 2008 is starting out and just can't stop working.

Welcome 2008!

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Tue, 01 Jan 2008 17:53:34 -0600

Never have I ever been so glad to see a new year begin as I am for 2008. Although 2007 was another successful year for me and I am very grateful, 2007 just seemed to carry a certain funk with it that got old quickly. Already 2008 has started on a very positive note for me and the great agents at Realty World-Select. I personally ratified a full price contract, received two other contracts that hopfully will ratify tomorrow, and I listed two very nice properties! It has been a very busy and productive day! Of the other 8 agents in my office I know of two contracts written, one contract received, and two new listings. There just is not anything more exciting than seeing this kind of activity on the very first day of the year, especially after having a year like we just did! Regardless of what the negative naysayers come up with, I'm looking forward to a great 2008!

Half Full or Half Empty?

Dan Lesher, Broker, CRS, ABR, e-Pro, RDCPro (Realty World Select) — Fri, 14 Dec 2007 19:32:28 -0600

Christmas time. To sell or not to sell? Many times when talking with homeowners about selling their homes around the holidays, I hear the same old line, "nobody is buying around the holidays". Nothing could be farther from the truth. Sure there are not as many buyers as you find in May, but the buyers that are out there are serious. Last December was one of the top 3 months of the year for my business and this December has also been very good as well. In a slower market the inventory builds up creating much more competition. Many sellers take their homes off the market for the holidays so I feel like the competition is actually down, increasing the odds of a sale when getting a showing. In the spring, buyers are more plentiful but so is the competition. There simply is never a "right" time to buy or sell when it comes to real estate. If you need to sell, the right time is now. If you need to buy, the right time is now too. Overblown negative press compounds the problem. View the glass as half full instead of half empty and you just might find that now is a great time to be in real estate!