Cindy's Blog

Short Sales and Foreclosures

Cindy Royster (RE/MAX 1st Realty) — Mon, 05 Oct 2009 12:32:42 -0500

In the Prince William County area the number of available listings have gone down. Inventory has gone from being at a 12 month range to about a month or so. Home prices are going up some. Multiple contracts on properties and people jumping at the chance to buy a home as-is? I know that is the market we are in but how many stories have we heard, although some are turning out OK. I have seen both sides of the fence, the side where the sellers agree to fix the problems is the better side for the clients and us. Had a home inspection on Friday and the home inspector found insulation piled 3 feet high in attic under bad wood that was actively leaking. All new paint and carpet but a bad roof in garage and upstairs attic, with active leaks, cracked disposer that had leaked forever and rotted the cabinet and sub floor under the cabinet just to mention a couple of the 4 hour inspection notes. Seller would not agree to fix anything and we walked away and someone was right there to take it totally as is. I guess it really doesn't surprise me, but with the mold, roof and dry rot, not to mention active termites inside the garage, it really does blow my mind. Where will the madness really end when we know there are more loans maturing soon?

Professionalism

Cindy Royster (RE/MAX 1st Realty) — Mon, 05 Oct 2009 12:11:00 -0500

This is a opinion only, over the last 4 years I have noticed a decline in professional courtesy. You call other Real Estate Professionals and they do not return calls, emails etc. Even as young children we are taught to be courteous. What has happened to manners we were taught? I have even had folks call and say they had contacted 5-6 Realtors and I was the only one who called them back. Am I alone here? Is business so good for some that they do not have time to follow up and help other people? I have written contracts for clients and never received a call from the listing agent to say that they excepted another offer, I found out by watching the listing on the MLS. What has this business come to? I have only been a Realtor since 2002, started as an assistant in 1999 for a 20 year seasoned agent whom I might add was very professional. It seems the decline started over the last few years, or is it just here in the Northern Virginia area? I would be interested in hearing what my colleagues have to say. It is very disappointing for me and my clients to attempt to work under these conditions. I have even written notes to some Realtors saying common courtesy really goes a long way in a working relationship, couldn't you have at least sent me an email to say you excepted another offer? I really don't think that it is too much to ask for between professionals, do you?

Foreclosures & Short Sales

Cindy Royster (RE/MAX 1st Realty) — Sun, 11 Nov 2007 22:53:07 -0600

Here in No. Virginia we are seeing lots of foreclosures and short sales. A lot of the homes I have been seeing are in really bad shape. Some of the prices seem to be high for the condition. Buyers are taking longer to make decisions. Our unemployment is low, economy strong. What are you seeing in your area?

Current Northern Virginia Market

Cindy Royster (RE/MAX 1st Realty) — Wed, 07 Nov 2007 20:22:47 -0600

There are mixed feelings about the market right now. I recently attended a Real Estate class where we discussed the issues causing the housing market situation here. In No. VA it is certainly not due to economic issues, we have low unemployment and a strong local economy. The problem here is in consumer confidence. Prospective buyers hear about problematic conditions in other regions and become afraid to make a move.

If you are a savvy buyer you should be taking advantage of our market. Interest rates are at an all time low. Granted it is a little harder to get a loan and you'll need a 680 credit score to get the best rates, but what an awesome market to buy a home. Fairfax, Arlington and Loudoun home sales are stronger than those in Prince William County, which offers some great deals in the Prince William County area.

Any feedback?