Lack of Planning and Preparation Can Land You on Your Butt in a Northern Virginia Short Sale - 10/31/11 02:30 PM
Lack of Planning and Preparation Can Land You on Your Butt in a Northern Virginia Short Sale
I read a post today by Laura Sargent about her son's Halloween costume. He's going as a Rubik's cube. And even though this was a last minute call, the prep for the costume is clearly something that was thought out. I know because I went trick-or-treating as an eleven year old as a Rubik's cube back in the day. My experience trick-or-treating as a Rubik's Cube that night was frustrating and painful as a result of mine and my Mom's lack of fore thought.
In … (3 comments)
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Just Sold in Manassas Park: Immaculate End Unit Townhouse in Belmont Station for $240,000 - 10/28/11 01:03 PM
Just Sold in Manassas Park: Immaculate End Unit Townhouse in Belmont Station for $240,000
The townhouse my Buyers purchased in Belmont Station was like digging up a buried treasure. After having their hearts broken with another Belmont Station townhouse(an undisclosed Short Sale) just one week prior to settlement, we continued our home search throughout Manassas Park, Bristow and Gainesville. The Buyers really wanted to live in Belmont Station, but it seemed that every townhouse we saw listed was either too small or needed too much work.
With the deadline to move out of their apartment looming in near future, I pulled the tax records … (9 comments)
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Great MLS Photos Can't Overcome Bad Smells - 10/27/11 04:35 PM
Great MLS Photos Can't Overcome Bad Smells
There's nothing like the excitement of taking a first time buyer out to look at homes. It's especially exciting when the MLS photos of the property have got the buyer and the agent expecting to see the best the market has to offer. Photographs are a must have for any listing, but what a photograph can convey is smell.
Today, when my buyer and I walked into one of the homes we'd had the highest hopes for, based solely on the immaculate photographs, we were hit dead in the face with the unmistakable and overpowering smell of DOG. … (38 comments)
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What If I Can't Find My Dream Home? - 10/26/11 10:01 PM
What If I Can't Find My Dream Home?
House hunting in Northern Virginia is not for the faint of heart. While prices and interest rates are low, there are plenty of buyers out and about to take advantage of the good deals. In the competitive environement that is the Northern Virginia real estate market, it is important for buyers to understand the difference between their wants and their needs when choosing a home.
Every buyer that starts on the house hunting journey has a picture in their mind of a gleaming home in perfect condition. All the upgrades. Granite counters. Hardwood … (4 comments)
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Rents Are Continuing to Rise in Northern Virginia. Buy a Home and Lock In Your Home Payment for the Next Thirty Years. - 10/26/11 08:16 PM
Rents Are Continuing to Rise in Northern Virginia. Buy a Home and Lock In Your Home Payment for the Next Thirty Years.
The rental market in Northern Virginia is moving at a break neck pace and even tenants that entered in to leases one year ago are shocked when hitting the market to find another rental. Rental prices are increasing as demand for them has increased.
Want to lower your montly housing payment? The best thing you can do to lock in your housing payment is to BUY. Not only will you know what your payment will be, you'll enjoy the tax … (4 comments)
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Mortgage Rates are in the 3's. Prices Are Still Low. What Are You Waiting For? - 10/26/11 08:04 PM
Mortgage Rates are in the 3's. Prices Are Still Low. What Are You Waiting For?
Ever since I became an Realtor® in February 2005, I have enjoyed the "mortgage principal and interest" table on the back of my business card. It helps me roughly calculate how much principal and interest would be for each thousand spent on a home in a 30 year fixed rate mortgage. As you can see, when interest rates go down, your purchasing power increases.
At the time that I first had this table put on the back of my cards, the interest rate was 5.5% and it wasn't long … (6 comments)
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Manassas Short Sale: Under Contract in Four Days - 10/26/11 04:35 PM
Manassas Short Sale: Under Contract in Four Days
Manassas Short Sales are typically not the first choice of buyers...unless the buyer has been misinformed as to the discounts on sales price offered by Short Sale Banks. Manassas Short Sales have a general reputation of taking a long time for an uncertain payoff.
When you are a Manassas Short Sale Agent that has built a solid reputation for getting deals done, it's not a shock when they go under contract quickly.
This Manassas Short Sale in Stonington hit the market on October 22nd and had an offer in had on October 24th. … (3 comments)
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Northern Virginia Short Sales: Should You Use Shorter Deadlines to Motivate the Banks to Get the Deal Done? - 10/25/11 02:56 PM
Northern Virginia Short Sales: Should You Use Shorter Deadlines to Motivate the Banks to Get the Deal Done?
If you are a Seller in a Northern Virginia Short Sale, you might be inclined to stick it to your Short Sale Bank and put a clause in your Northern Virginia Short Sale Contract that can be used to "motivate" the bank to act quickly. After all, this is the same bank that probably was unresponsive and slow when processing your request for loan modification before you chose to go the route of Short Sale. Anything you can do to light a … (6 comments)
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To Avoid Potential Tax Ramifications of a Northern Virginia Short Sale, Timing is Everything - 10/24/11 04:59 PM
To Avoid Potential Tax Ramifications of a Northern Virginia Short Sale, Timing is Everything
At the end of 2012, the federal government's Mortgage Debt Relief Act will be expiring. If you think that's not a big deal, then you are either not in the market to sell your principal residence in a Short Sale or have no clue what I'm talking about.
The Mortgage Debt Relief Act was a law enacted that meant tax forgiveness on forgiven mortgage debt through Short Sale or Foreclosure. You see, banks issue 1099s when they forgive an outstanding debt. And normally, a home owner would be claiming … (9 comments)
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Halloween 2011: Free Reflective Trick-Or-Treat Bags On Me for Bristow Residents - 10/23/11 12:36 PM
Halloween 2011: Free Reflective Trick-Or-Treat Bags On Me for Bristow Residents
If you live in Braemar and are planning to attend the 2011 Braemar Halloween Spooktacular, your children will receive a free, reflective trick-or-treat bag compliments of me, Chris Ann Cleland, your neighborhood Realtor®. However, if you aren't planning to attend the Braemar Halloween Spooktacular, or don't live in Braemar, you still have a chance to pick up your free trick-or-treat bag, while supplies last, thanks to Capital One Bank at Braemar Village Plaza.
Simply stop in to the Capital One branch located at 12601 Braemar Village Plaza and ask for … (13 comments)
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Halloween Safety Tips for Bristow, VA Residents - 10/23/11 12:33 PM
Halloween Safety Tips for Bristow, VA Residents
Whether you are going out to trick-or-treat, or staying home to pass out goodies to the kids, safety comes first. Here are helpful safety tips, many of which have probably been drilled into your head. Maybe you'll see a new safety tip, but even if you don't, it never hurts to go over the rules of safety one more time.
FOR TRICK-OR-TREATERS:
1. Go out in a group. Whether it's having multiple eyes on small children, or young adults traveling in a pack, there is safety in numbers.
2. Stay in well lit areas.
… (6 comments)
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I Don't Like It When a Buyer's Agent Goes Silent One Week Before a Short Sale Settlement - 10/22/11 06:52 PM
I Don't Like It When a Buyer's Agent Goes Silent One Week Before a Short Sale Settlement
There's something about silence that is powerful. In a negotiation, it be used to get the advantage. He that speaks first loses. That's a good thing. In a Short Sale that is supposed to settle in about one week's time, silence is generally not a good thing to be on the receiving end of from the Buyer's Agent.
When a Buyer's Agent stops communicating, something is wrong. They don't know how to tell you, which is why they've gone silent, but something is wrong. … (11 comments)
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Manassas Short Sale Listed for $127,800 in Stonington - 10/22/11 01:40 PM
… (8 comments)
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Are You Giving Your Buyers Away in Contract Negotiations? - 10/22/11 11:14 AM
Are You Giving Your Buyers Away in Contract Negotiations?
In my market of Northern Virginia, I notice that the majority of agents are using contract writing software when preparing their offers. Filling in an offer on the computer can make life a lot easier for all involved when you you have clean, clear legible paperwork. And often times, agents who are representing a buyer who has made offer after offer after offer will simply go into the last offer written by that buyer and change the seller, price and other relevant information. Personally, I like to start a fresh file for each offer. Why? Well. … (9 comments)
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How Do Northern Virginia Realtors® Reconcile Dual Agency Against the Realtor® Code of Ethics? - 10/20/11 05:14 PM
How Do Northern Virginia Realtors® Reconcile Dual Agency Against the Realtor® Code of Ethics?
I spent my morning in a class on the subject of agency and changes to the dual agency statutes in the Commonwealth of Virginia. This is a subject that really fires me up. I honestly have no idea how any Realtor® licensed in Virginia can think they are truly representing the best interests of their clients, over their own financial best interests to earn two commissions, if they are practicing dual agency by the letter of the law.
By the Realtor® Code of Ethics, Realtors® are bound to … (18 comments)
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Home Searches Based on School Boundaries in Bristow and Gainesville, VA - 10/19/11 03:42 PM
Home Searches Based on School Boundaries in Bristow and Gainesville, VA
Right now, I am working with two families who have specific school boundary needs in Bristow and Gainesville, VA. The first family needs to be within a specific elementary school in Gainesville, VA. The second family needs to be within the overlap of a specific middle and high school in Bristow, VA.
When I first communicate with Buyers, one of the things I do is to find out information like this so that I can get an automatic listing search set up for them. It is a search that pulls listings … (8 comments)
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The Best Deals on the Market are Northern Virginia Short Sales...Right? - 10/17/11 05:25 PM
The Best Deals on the Market are Northern Virginia Short Sales...Right?
It is a very common myth among home buyers that Northern Virginia Short Sales are the absolute best places to find "deals." Well, as a Northern Virginia Short Sale Agent I am here to tell you that it is just as hard to get a Short Sale Bank to accept less than market value for a property as a it is a regular seller to part with anything below market value. The "deals" you think folks are getting may look great on paper, but take a walk inside the Short … (9 comments)
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Five Easy Steps to Stage Your Family Room - 10/16/11 08:20 PM
Five Easy Steps to Stage Your Family Room
Previously in this series of "staging" tips, we've covered the kitchen, the bathroom and the bedroom. Now it's time to tackle a room where we all like to unwind at the end of a long day. The family room. The room with the potato chip crumbs in the couch cushions and a remote control for every electronic device that helps you zone out.
1. CLEAN
As has been the first step in every room thus far, the first step in getting show ready is to clean. Vacuum (even in between and under couch … (16 comments)
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Wells Fargo Short Sales Prove Equator is Only as Useful at Speeding Up the Process as the Negotiator on the Other End - 10/16/11 07:05 PM
Wells Fargo Short Sales Prove Equator is Only as Useful at Speeding Up the Process as the Negotiator on the Other End
The third week in September, I was contacted by my Wells Fargo negotiator on one of my Northern Virginia Short Sales that had died in counter offer by the Mortgage Insurance Company. The property was scheduled to go back on the market the October 1st. The BPO that had been conducted for the prior contract was still good until October 16th. Nice of them to call and tell me, right?
Well, due to that, the owner put the property … (4 comments)
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Braemar's Annual Halloween Spooktacular (2011) - 10/13/11 05:46 PM
Braemar's Annual Halloween Spooktacular (2011)
The 2011 Braemar Halloween Spooktacular is scheduled for Saturday, October 29th from Noon-2pm. It will be held at the Braemar Clubhouse, located at 12300 Iona Sound Drive.
The main event at the Braemar Halloween Spooktacular is a costume parade and contest for the kids. Judging of the costumes takes place DURING the parade, so don’t be late because the parade kicks off the event.
After the parade there will be a magic show and light refreshments. And I am personally happy to be sponsoring the event and offering a free Trick-Or-Treat bag to every child that … (9 comments)
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What's the Difference Between Dual Agency and Designated Agency in a Northern Virginia Real Estate Transaction? - 10/12/11 07:47 PM
What's the Difference Between Dual Agency and Designated Agency in a Northern Virginia Real Estate Transaction?
Would you be shocked to know that there are real estate brokers that don't know the answer to this question? You should be. Once you read the explanation, you'll be able to spot a real estate agent/broker that knows their stuff. And the first way to tell is whether or not they even bother to explain the different forms of representation to you that include Buyer Agency (when an Agent represents a Buyer), Seller Agency (when an Agent represents a Seller) or Non-Agency (when the Party … (13 comments)
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Kingsbrooke Townhouse Report: September 2011 - 10/11/11 07:26 PM
Kingsbrooke Townhouse Report: September 2011
If there is such a thing as pumpkin time, it's officially arrived in Kingsbrooke. The leaves are changing into the brilliant shades of red, yellow and orange and there is a chill in the air. The little ones will be in the costumes and trick-or-treating before you know it. But before we get ahead of ourselves, let's go back and take a look at what happened to home values in the Kingsbrooke townhouse market for September. All comparisons will be made to last report, August 2011.
KINGSBROOKE TOWNHOUSES FOR SALE
1 Active Listing
A Short Sale
High … (8 comments)
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Kingsbrooke Single Family Home Report: September 2011 - 10/10/11 05:04 PM
Kingsbrooke Single Family Home Report: September 2011
Despite a few freak days where temps in Bristow have been in the high 70's, Kingsbrooke residents know are enjoying fall. There is a chill in the air, the leaves are turning and Halloween is just around the corner. With the month of September behind us, we can take a look back at the Kingsbrooke single family home market and see what's going on with Kingsbrooke home values. Comparisons will be made to last report, August 2011.
KINGSBROOKE SINGLE FAMILY HOMES FOR SALE
6 Listings were Active
4 Regular Sales, 2 Short Sales
High List Price was … (4 comments)
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Victory Lakes Townhouse Report: September 2011 - 10/09/11 11:58 AM
Victory Lakes Townhouse Report: September 2011
There's a chill in the air in Bristow, VA and trick-or-treaters will be making their way through neighborhoods like Victory Lakes before you know it. October is one of my favorite months of the year. I love the changing color of the leaves, the cool temps and Halloween.
With the coming of October, we can take a look back at the Victory Lakes townhouse market for the September. There is at least one treat waiting for us in this Victory Lakes Townhouse Report. As usual, we'll make comparisons to the prior report, in this case, … (3 comments)
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Victory Lakes Single Family Home Report: September 2011 - 10/06/11 07:09 PM
Victory Lakes Single Family Home Report: September 2011
Looking out my window I can see that the leaves in Bristow, VA are beginning to change. You'll be seeing trick-or-treaters in Victory Lakes before you know it. Now, with September behind us, let's take a look back at the Victory Lakes Single Family Home market and see if we got a treat to report this time around. Comparisons will be made to last report, in this case August 2011.
SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES
6 Active Listings
5 Regular Sales, 1 Short Sale
High List Price was $500,000
Low List … (3 comments)
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Not Communicating is NOT an Option When it Comes to Your Northern Virginia Short Sale - 10/05/11 08:14 PM
Not Communicating is NOT an Option When it Comes to Your Northern Virginia Short Sale
As a Northern Virginia Short Sale Agent, I hear plenty of tales of real estate agents and attorneys that have come before me to help a home owner with a Short Sale or loan modification only to get the client to sign on the dotted line and then disappear into thin air. Hearing the names of these professionals, I know they are not scam artists collecting a buck and moving on. Well, maybe a few, but not the majority. These are professionals who live by the … (8 comments)
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Is Loan Modification a Scam by the Banking Industry? - 10/04/11 12:47 PM
Is Loan Modification a Scam by the Banking Industry?
How many people actually hear of success stories in the world of loan modification? I'm a Northern Virginia Short Sale Agent, and as such, I meet people every day that have been denied when they apply for loan modification. In fact, I've only met one family that had their loan successfully modified. When they did sell their home, they found out that they owed the interest they hadn't been paying in an increased principal pay off.
While it may be white noise, the words you hear when calling your bank to apply … (10 comments)
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How Long Can I Stay in My Northern Virginia Home if My Loan Modification was Denied and I'm Not Making Mortgage Payments? - 10/03/11 07:40 PM
How Long Can I Stay in My Northern Virginia Home if My Loan Modification was Denied and I'm Not Making Mortgage Payments?
If you are asking this question, you need to start looking at Short Sale as an option to sell your Northern Virginia home. Clearly, if your loan modification was denied and you aren't able to continue making mortgage payments, it's only a matter of time before you will be forced out of your home by Foreclosure.
And there's additional reason to consider a Short Sale for your Northern Virginia home sooner rather than later. If you can't afford to make the payments … (6 comments)
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Sound the Alarms----All Eleven of Them!!! - 10/02/11 05:48 PM
This morning I was jolted out of bed by the sound of my eleven hard wired fire alarms blaring. This is not uncommon if you have just turned on the heat....which we had not. So my husband and I made our way through the house. No smoke anywhere. That left three options.
There was dust causing a disturbance in one of the fire alarms. The was an insect causing a disturbance in one of the alarms. One of the alarms had a low battery. Let me tell you, nothing tries my patience more than an annoying constant sound. The sound of these … (26 comments)
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Braemar Condo Quarterly: July 2011-September 2011 - 10/02/11 01:52 PM
Braemar Condo Quarterly: July 2011-September 2011
Three more months of Braemar condo sales are officially on the books. Let's take a look and see if Braemar condo values are increasing, stabilizing or decreasing.
As of today, October 2nd, there are three Braemar condos under contract and one available for sale. Those under contract are Short Sales. The one left for a Buyer to snag is a Foreclosure. When looking at the range of list prices between these four Braemar condos, we see a low of $174,900 to a high of $220,000. If you guessed that the high list price was the … (0 comments)
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