virginia real estate: When a Comp is Not Really a Comp
- 05/02/11 01:44 PM
We all hear it " The house down or across the street sold for $x." If they can get $x, we should be able to get more than $x. "Our house is newer and larger on similar size lot, plus we have a mountain view!" Well, seller, part of what we do to get paid is to research and discover true facts about properties and sales in order to give you accurate advice. Yes, it is true that house across the street sold for $500,000.00, but, I happen to know that the appraisal on that property came back at $440,000.00. The … (7 comments)
virginia real estate: Hate Surprises at Closing? The Ultimate Surprise!
- 05/01/11 08:49 AM
Just wanted to share this story posted below from a fb friend, and fellow agent Gay Ashley of Ashley Realty Group who I went to GC Marshall HS in Falls Church VA with ( Class of 75). We just never know what to expect next in this business. I assume Jenn said yes! I'm sure that closing wll be a memorable experience for Gay! "I had the most awesome thing happen today! A client signed to purchase his house, then stood up and said "it doesn't seem appropriate to ask Jenn to simply move-in with me..." He then got down on … (4 comments)
virginia real estate: Is it Time to Buy Land and Build?
- 04/26/11 04:42 AM
One evalation I always consider when showing buyers houses is: How much can I buy a lot for and build this house for? Many times list prices are so far above what they should be, it's not hard to pass on many houses. For example, a 3 level Colonial built in 2005 on a 3 acre lot is listed for $849,000. Ok, well maybe it was a former model with loads of upgrades, maybe they finishd the basement, spent $50,000. in landscaping, added a deck and patio. If buyer wants to see it, I'll research and show it even though is … (0 comments)
virginia real estate: Shenandoah Apple Blossom Festival - Winchester Virginia
- 04/23/11 12:40 PM
Virginia's Shenandoah Apple Blossom Festival (edit/delete) After Easter, you and your kids might want to check out the Winchester VA Shenandoah Apple Blossom Festival. Next weekend will be busy with parades, firetrucks, floats, celebrities, singers, sports figures, food, band, etc, etc. Several thousand people visit Winchester VA each year during Apple Blossom. Check their web site for schedule of events http://www.thebloom.com I'll be working doing security and traffic control Apr 29 and 30th so will only be doing real estate by cell phone most of those 2 days when I have time. … (1 comments)
virginia real estate: Virginia's Shenandoah Apple Blossom Festival
- 04/23/11 12:36 PM
After Easter, you and your kids might want to check out the Winchester VA Shenandoah Apple Blossom Festival. Next weekend will be busy with parades, firetrucks, floats, celebrities, singers, sports figures, food, band, etc, etc. Several thousand people visit Winchester VA each year during Apple Blossom. Check their web site for schedule of events http://www.thebloom.com I'll be working doing security and traffic control Apr 29 and 30th so will only be doing real estate by cell phone most of those 2 days when I have time. … (0 comments)
I hope the spring market is heating up for you. From my Presidential Mortgage Update email you can tell things keep changing for better and worse on home financing. The good news is that rates have stayed low and defied notions that they were heading up. Mortgage insurance companies are offering better options at 95% to steer buyers from the now more expensive FHA program. We still have the ability to offer the condominium “limited project review” for owner occupants putting down 20%. I have saved a number of condo transactions that other lenders could not close with this … (0 comments)
Average Weekly Mortgage Rates are up slightly once again According to the weekly Freddie Mac survey, the average 30 year mortgage rose to 4.91% from 4.87%. The 15 year average went up to 4.13% from 4.10%. The 5/1 ARM average rose to 3.78%, from 3.72%. Average rates contained .70 discount points. The good news is that while rates have risen the last four weeks, the average is still below 5%. This keeps home affordability at an attractive level as the spring home buying season heats up. Points of Interest Purposed legislation for Qualified Residential Mortgages (QRM) would limit … (1 comments)
virginia real estate: Clear and Marketable Title - You Must Have Both
- 04/12/11 05:01 AM
Are you sure there are no clounds on the title? Sometimes, one title search may not be enough. I sold 3 building lots in VA a while back. ( Same owner). All 3 lots sold, all 3 had title searches and title insurance, and I was glad to be done working in that area. Then I get the news. The buyer of one lot went to get his construction financing from a bank in Clarke county which did their own title search. Their title seach discovered the words " unborn heirs" in the will of a previous owner. This caused the … (27 comments)
virginia real estate: BEWARE of Recent Scam Postings on AR
- 04/12/11 04:19 AM
Just an FYI. Seems like I've noticed 5-6 blog postings recently that reek of bs. I noticed some agents are replying to these blogs thinking the poster is sincere. My impression is, these postings are all fraudulent and just trying to capture your info for possiblky placing advertising on your blog site. I'm sure many have noticed the increase in unauthgorizized advertisement son some blogs recently. Maybe these are related. The blog postings which I feel are just BS all originate from NJ and start with area code 732. I woiuld think before replying to any of these. None of them … (3 comments)
virginia real estate: Green Home Healthy Home
- 04/08/11 11:25 AM
White, Beige, and Green Homes Sell Best. (edit/delete) The environmentally friendly home. Agents and Stagers, are you looking for something a little different? Tired of REALTOR beige carpet, Antique White walls, and neutral everything else? Want to add a little variety to your listings, save sellers and buyers a little money, present a clean and green home to potential buyers? Just want to add something a little different? Consider some green products like Paperstone, Kirei Board, Toto, Polywhey, Clay Wall Plaster, in your pre listing repairs and staging presentation! Every couple of months I like to scan through our local Green … (1 comments)
Rates are up a fraction again according to survey The average 30 year mortgage was up to 4.87% from 4.86% last week according to the Freddie Mac survey. The 15 year average was up to 4.10% from 4.09%. The 5/1 ARM average was up to 3.72%, from 3.73%. Average rates contained .70 discount points. One year ago the average weekly average was 5.21%. So far the pending government shutdown has not caused any immediate change in mortgage rates. That could change next week if investors lose confidence in U.S bonds. The Federal Reserve’s Loan Officer Compensation Rules went into … (0 comments)
virginia real estate: White, Beige, and Green Homes Sell Best.
- 04/07/11 12:29 PM
The environmentally friendly home. Agents and Stagers, are you looking for something a little different? Tired of REALTOR beige carpet, Antique White walls, and neutral everything else? Want to add a little variety to your listings, save sellers and buyers a little money, present a clean and green home to potential buyers? Just want to add something a little different? Consider some green products like Paperstone, Kirei Board, Toto, Polywhey, Clay Wall Plaster, in your pre listing repairs and staging presentation! Every couple of months I like to scan through our local Green Building Supply store to see what's new in … (1 comments)
virginia real estate: Equator- Wells Fargo Joins the Club
- 04/04/11 12:31 PM
Well, it was nice while it lasted. I had a Wells Fargo contact less then one hour from here, Here would review short sale packages and issue approvals in as little as 2 days. ( Why don't all lenders have a central location with a loss mitigator on hand so we can deliver SS packaegs in person, and get a a review and answer in a few days)? They can keep Equator as well, but why not have both? Bank of America recently released their verison of " Short Sale Expeditor". Will Wells Fargo also introduce a Short Sale Expeditor? It … (3 comments)
virginia real estate: Buyers Agents / Different States = Different Forms
- 04/01/11 08:59 AM
I recently recieved an offer from a MD agent on one of my VA listings. In the MRIS, I have checked " Call Listing Agent for Contract Information", but of course, most never do. They just slap together whatever forms they are use to using and fax the offer. I'm not lying, the potential buyer signed and initialed everything in pencil and I either can't read, or can barely read where he signed and initialed. I also have notice in MRIS that " As Is Contingency Clause Required." ( Property is in a Trust). Of course, those forms are almost always … (0 comments)
Average Mortgage Rate Up .05% for the Week The average 30 year mortgage rate rose to 4.81% from 4.76% last week. The 15 year average went to 4.04% from 3.97%. The 5/1 ARM average was 3.62%, from 3.57%. Average rates contained .70 discount points. Mortgage bonds gave ground to a stronger stock market this week while uncertainty over Japan and the Middle East continue to effect daily trading. Next week the government will be selling Treasury securities and on Friday the jobs report will be released. Expectations are for 190,000 jobs created and unemployment to remain at 9%. My … (1 comments)
virginia real estate: Seller Rent Backs
- 03/25/11 10:52 AM
Occasionally I get owners of my listings asking me if they can sell and then rent back for 3-6 months while they decide where they want to move and so they don't have to put all of their belongings in storage. I always tell them that it's not a good idea, and to work on getting rid of everything they don't to take with them to their new place. Yard sale it, Craigs list it , Donate it, whatever, just thin out and de-clutter. Then, I tell them that buyers aren't usually out looking to buy a house so that they … (3 comments)
virginia real estate: I Have a GPS and I Know How to Use it. Oh Brother.
- 03/18/11 01:32 PM
Has anyone noticed lately the increase in agents that have become too lazy to write directions to their listings in the MLS? In the box where we usually write " Take 7 west, to 9 west, to a right on 287N, to left on Nixon Rd to 999 Nixon." That has becaome just too difficult for many agents. Instead, they just write " GPS". That's it. So if you don't have a gPD or you live in areas like we do where many GPS systems don't work, or give wrong info, you have to hope you have your ADC map with … (4 comments)
virginia real estate: Professional Negotiators - Do We Need Them?
- 03/16/11 11:15 AM
I had an agent call me a week or so ago on one of my short sale listings. Started out talking like he was king know it all when it came to short sales, then he says " I assume this is going to be professionally negotiated." I just told him that I knew a negotiator if we needed one." I didn't even want to discuss what he was thinking needed to be negotiated, but my impression was, he thought he could write a ridiculous low offer and that some " Professional Negotiator" could convince the bank to accept it. All … (2 comments)
We all hear it " The house down or across the street sold for $x." If they can get $x, we should be able to get more than $x. "Our house is newer and larger on similar size lot, plus we have a mountain view!" Well, seller, part of what we do to get paid is to research and discover true facts about properties and sales in order to give you accurate advice. Yes, it is true that house across the street sold for $500,000.00, but, I happen to know that the appraisal on that property came back at $440,000.00. The … (7 comments)
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