Jane's Blog

Working the System

Jane Jensen (Century 21 New Millennium) — Sun, 17 May 2009 09:11:27 -0500

Received this story from a friend. Thought it was funny and also a lesson in "working the system"

THE ITALIAN TOMATO GARDEN

An old Italian man lived alone in the country. He wanted to dig his
tomato garden, but it was very hard work as the ground was hard. His
only son, Vincent, who used to help him, was in prison. The old man
wrote a letter to his son and described his predicament

Dear Vincent,
I am feeling pretty bad because it looks like I won't be able to plant
my tomato garden this year. I'm just getting too old to be digging up a
gar den plot. I know if you were here my troubles would be over. I know
you would be happy to dig the plot for me.
Love, Dad

A few days later he received a letter from his son.

Dear Dad,
Don't dig up that garden. That's where I buried the bodies.
Love, Vinnie

At 4 a.m. the next morning, FBI agents
and local police arrived and dug up the entire area without finding any
bodies. They apologized to the old man and left. That same day the
old man received another letter from his son.

Dear Dad,
Go ahead and plant the tomatoes now. That's the best I could do under
the circumstances.
Love you,
Vinnie
Ciao

No longer a foreclosure virgin

Jane Jensen (Century 21 New Millennium) — Thu, 02 Apr 2009 10:19:59 -0500

Well, I had my settlement last week on my first foreclosure transaction. I represented the buyer. I'm happy to say that things went pretty smootly. Lots of moving parts and lots of interaction with people you never see in real life but everyone in this case was pretty responsive.

I had heard so many horror stories that I went in with some trepidation but now that I have one under the belt and have seen how things can go when everyone stays on top of things, I ready for the next.

http://www.realvirginiahomes.com

Washington Post Magazine

Jane Jensen (Century 21 New Millennium) — Thu, 05 Mar 2009 06:45:18 -0600

There was a good article in the Washington Post Magazine this weekend about buying real estate. It followed a couple buying their first home. They were tense but realized this may be the bottom or at least it's close.

February was an extraordinarily busy month for me. A new condo listing I put on had four contracts within days, I ratified my first foreclosure sale (representing a buyer), ratified a $1M+ home and ratified another contract for a buyer. Tons of open house traffic too.

It's not just me either. I looked at the ratified contracts board in our office and they were running out of room to post new sales. Phew. What does this mean? I think it means things are starting to come together. The new tax credit that doesn't have to be paid back is motivating folks, interest rates are great, FHA is providing a great option for first time buyers, the high end sellers have come down enough so buyers aren't so tense and the foreclosures are too good to pass up.

Go buy a house.

New first time buyer tax credit

Jane Jensen (Century 21 New Millennium) — Wed, 18 Feb 2009 07:39:24 -0600

Here's a link to an article about the new $8000.00 first time buyer credit.

Important notes are that you don't have to pay this one back, but you must buy before the end of 2009.

There are income caps so if you make over $75,000 as a single or $150,000 as a couple you'll need to consult a tax advisor. Good idea to do this anyway.

http://www.usnews.com/blogs/the-home-front/2009/02/17/first-time-home-buyer-tax-credit-6-things-to-know.html

Housing bottom?

Jane Jensen (Century 21 New Millennium) — Wed, 04 Feb 2009 08:42:31 -0600

Has housing bottomed?

I certainly don't know and wouldn't try to say that I do but click this link to read about our first increase in home sales in quite some time.

http://www.realtor.org/press_room/news_releases/2009/02/pending_home_sales_show_healthy_gain

Sales are definitely up. Prices are not but have the finally reached a point where people are buying? Looks like it. We're even seeing some competition for well priced homes.

This market

Jane Jensen (Century 21 New Millennium) — Tue, 27 Jan 2009 05:57:39 -0600

Yes, I know there are foreclosures and short sales out there. Especially outside the beltway. However, we should all remember that we are NOT the typical real estate market that is on the news every night.

We have VERY low unemployment as compared to the rest of the country and that situation is only going to improve with new government spending.

Buyers continue to be suprised that they have to compete for well priced, well maintained and/or unique properties. With the very low interest rates and new government jobs (and contractor, and attorney, and etc., etc) there are buyers out there. Really.

Don't believe me? Here's what Forbes had to say about the DC market for commercial and residential real estate. Yes, we are # 1 for 2009.

http://www.forbes.com/2009/01/21/investment-obama-realestate-forbeslife-cx_mw_0121realestate.html

Jane Jensen

http://www.realvirginiahomes.com

571-228-5656

Interest rates and housing

Jane Jensen (Century 21 New Millennium) — Sat, 17 Jan 2009 05:30:10 -0600

I had a settlement this week with a client who got an interest rate of 4.78%. I was having interest rate envy. It's good out there. Houses are cheap and rates are fabulous. Go buy a house. I am going off to do a home inspection with another smart buyer.

news about Arlington Real estate. It's up.

Jane Jensen (Century 21 New Millennium) — Tue, 30 Dec 2008 18:34:34 -0600

www.arlingtonva.us/Departments/Communications/PressReleases/67673.aspx

Try to remember to Dance....just a little

Jane Jensen (Century 21 New Millennium) — Sat, 22 Nov 2008 06:56:33 -0600

Notes from a Cab Driver:

So I walked to the door and knocked. 'Just a minute', answered a frail, elderly voice. I could hear something being dragged across the floor.

After a long pause, the door opened. A small woman in her 90's stood before me. She was wearing a print dress and a pillbox hat with a veil pinned on it, like somebody out of a 1940s movie.

By her side was a small nylon suitcase. The apartment looked as if no one had lived in it for years. All the furniture was covered with sheets.

There were no clocks on the walls, no knickknacks or utensils on the counters. In the corner was a cardboard box filled with photos and glassware.

'Would you carry my bag out to the car?' she said. I took the suitcase to the cab, then returned to assist the woman.

She took my arm and we walked slowly toward the curb.

She kept thanking me for my kindness. 'It's nothing', I told her. 'I just try to treat my passengers the way I would want my mother treated'.

'Oh, you're such a good boy', she said. When we got in the cab, she gave me an address, and then asked, 'Could you drive through downtown?'

'It's not the shortest way,' I answered quickly.

'Oh, I don't mind,' she said. 'I'm in no hurry. I'm on my way to a hospice'.

I looked in the rear-view mirror. Her eyes were glistening. 'I don't have any family left,' she continued. 'The doctor says I don't have very long.' I quietly reached over and shut off the meter.

'What route would you like me to take?' I asked.

For the next two hours, we drove through the city. She showed me the building where she had once worked as an elevator operator.

We drove through the neighborhood where she and her husband had lived when they were newlyweds. She had me pull up in front of a furniture warehouse that had once been a ballroom where she had gone dancing as a girl.

Sometimes she'd ask me to slow in front of a particular building or corner and would sit staring into the darkness, saying nothing.

As the first hint of sun was creasing the horizon, she suddenly said, 'I'm tired. Let's go now'

We drove in silence to the address she had given me.It was a low building, like a small convalescent home, with a driveway that passed under a portico.

Two orderlies came out to the cab as soon as we pulled up. They were solicitous and intent, watching her every move. They must have been expecting her.

I opened the trunk and took the small suitcase to the door. The woman was already seated in a wheelchair.

'How much do I owe you?' she asked, reaching into her purse.

'Nothing,' I said

'You have to make a living,' she answered.

'There are other passengers,' I responded.

Almost without thinking, I bent and gave her a hug. She held onto me tightly.

'You gave an old woman a little moment of joy,' she said.

'Thank you.'

I squeezed her hand, and then walked into the dim morning light. Behind me, a door shut. It was the sound of the closing of a life.

I didn't pick up any more passengers that shift. I drove aimlessly lost in thought. For the rest of that day, I could hardly talk. What if that woman had gotten an angry driver, or one who was impatient to end his shift?

What if I had refused to take the run, or had honked once, then driven away?

On a quick review, I don't think that I have done anything more important in my life.

We're conditioned to think that our lives revolve around great moments.

But great moments often catch us unaware-beautifully wrapped in what others may consider a small one.

PEOPLE MAY NOT REMEMBER EXACTLY WHAT YOU DID, OR WHAT YOU SAID, ~BUT~THEY WILL ALWAYS REMEMBER HOW YOU MADE THEM FEEL.

Life may not be the party we hoped for, but while we are here we might as well

dance

This is a story that is being passed around the interenet. I don't know if it's true or not but it doesn't really matter. It's how we should live our lives. When we serve others we bring joy into our own lives. Making other people feel good is the best way to get to feeling good ourselves. This applies to our real estate clients as well as every other aspect of our lives. Go Dance. Life is Good.

rates for the week

Jane Jensen (Century 21 New Millennium) — Fri, 21 Nov 2008 15:39:02 -0600

Here are some average interest rates for the week for the Northern Virginia area courtesy of First County Mortgage:

Conventional 30 years fixed to 417k: 5.99% with ½ point loan origination fee

Conventional Jumbo between 417k - 729k): 6.375% with ½ point

FHA/VA: 6% with ½ point

FHA Jumbo: above $363,500: 6.75% with ½ point

I sent a small rant to Jim Webb this week after watching some of the congressional testimony of our corporate leaders. Yikes, talk about men without a plan, and a sense of entitlement. I am not against corporate socialism if it will stave off a deeper recession but I REALLY don't want to contribute to these guys having private jets, 16 million dollar salaries, etc, etc. Not only that but they have no shame about it. Egad! And still.....no real help for homeowners.

http://www.realvirginiahomes.com

Obama Interview and Real estate

Jane Jensen (Century 21 New Millennium) — Mon, 17 Nov 2008 06:51:52 -0600

I watched most of Obama's interview last night. He made it quite clear that keeping people in their homes is a priority. He indicated that if the current administration doesn't do more to make that happen, he certainly will. Yay! I've commented earlier that this is a great time to consider investing in this area. I believe that our new President is going to put programs in place to help home buyers and to keep existing home owners from defaulting. All of this will stabilize the market making it good for everyone but the window to low ball an offer to a "need to sell" seller may be closing.

Jane Jensen

http://www.yourarlingtonrealtor.com

571-228-5656

New Construction negotiation

Jane Jensen (Century 21 New Millennium) — Mon, 17 Nov 2008 05:24:40 -0600

There was an article in the Sunday Washington Post this week about how builders are keeping the base price of their homes steady and instead using incentives to lure buyers.

Just because a builder says they are not negotiable on base price you don't have to believe it. Many people will just take a builders sales rep word for it. As a realtor I have negotiated lower base prices as well as added incentives such as half price or free options. Bringing a realtor with you to negotiate on your behalf is like taking an attorney with you to negotiate your traffic violation. You're likely to get more respect and attention from the builder rep and the builder.

http://www.yourarlingtonrealtor.com

571-228-5656

Some recent real estate statistics for Northern Virginia

Jane Jensen (Century 21 New Millennium) — Sun, 16 Nov 2008 17:36:57 -0600

According to our multiple listing system (MLS) 3600 homes have gone under contract in the metro DC area between September 15, 2008 and Oct 15, 2008. Many of these homes are in Arlington, Va. and Fairfax, Va. These numbers do not include any homes sold that were not listed in the MLS, foreclosure homes sold at auction or for sale by owner properties. Specifically, in Arlington county real estate and Fairfax county real estate, although the average and median sales price declined from the year before, 1650 properties changed hands during the month of September 2008, up from 1,072 year before. Each neighborhood is different and you need a specialist to help you decide how to effectively price your home or what offer to make on a property. Mortgage dollars are available for qualified buyers. If you need assistance finding a good lender I am the person to ask.

Time to buy?

Jane Jensen (Century 21 New Millennium) — Thu, 13 Nov 2008 06:02:53 -0600

Arlington, Va. real estate has been realtively sheltered from the housing storm. Relative being an important word here. We've certainly seen downward pressure on pricing even in close (as in Close to DC) neighborhoods. However, because of our strong employment #s and the federal government, we've seen that houses that are priced well still sell and real bargains have flown sometimes with multiple offers.

With the volatility in the stock market and the recent jitters of buyers is this a good time to buy? I think it is. Sellers are certainly anticipating an influx of buyers with the new administration. Certainly we'll see some but after the initial excitement passes and a sellers house is still on the market, this may be a good time to get a real value.

Consider that the National Asssociation of Realtors is pushing to get some legislation that will really help stimulate the buyers. Making the $7500 tax credit more available and eliminating the need to pay it back. Make the 2008 FHA loan limits permanent (they are scheduled to reset at a lower rate in January). Pushing the treasury to target more funds for mortgage relief. Interest rates coming down. The stock market will reach a low and stableize. Combine these potential factors with a spring market, pent up demand from well employed but currently nervous buyers and the largest window of opportunity may close at least not be so wide open.

Jane Jensen, Realtor

Century 21 New Millennium http://www.yourarlingtonrealtor.com http://www.realvirginiahomes.com

571-228-5656