The "STATE" of the Market

The Virginia Association of REALTORS released it's third quarter sales report. Most consumers will be shocked to hear that, overall, sales prices are UP 1% compared to last year, and sales activity (closed sales) is down only 9.2% for the state.

But, as the National Association of REALTORS is constantly trying to explain, real estate is regional. And, in reviewing this report, it is clear. Some areas have found the "bottom" of the market and have stabilized, and even started recovering. I expect other areas are still in need of deflation in pricing before they will stabilize. Clearly, price is king in today's economy.

Look at these tidbits:

For the third quarter of 2008, when compared to the same quarter in 2007....

• Prince William County's median price is down 42%, but sales activity is up 145%.
• Lexington/Buena Vista's median price is down 38%, sales activity is up 70%.
• Greater Piemont's median price is down 28%, sales activity is up by 19%.
• The Dulles Area's median price is down 23%, and sales activity is up by 27%.
• Northern Virginia's median price is down 19% and sales activity is up by 15%.

On the other end of the spectrum:

• Chesapeake Bay & Rivers median price is UP 19%, but sales activity is down 52%.
• Roanoke Valley's median price is down only 4%, but sales activity is still down 26%.

Prince William County leads the state with most improvement in sales activity, reflected as closed sales for the quarter (3128 transactions), and pending sales (3894). Northern Virginia (defined as Fairfax & Arlington Counties), and the Dulles Area (Loudoun County) closely follow. These stats show us that once the submarket finds its correct pricing, buyers are out in force again.

The lesson to sellers here is - if you are in an area with declining sales activity, then your prices will be declining, soon. Price AHEAD of the curve, below the last sale... you must attract a buyer, and quick, before you lose even more value. Sellers in these markets thinking that instead they will "wait out the market" need to be prepared for a long wait -several years.

The lessons to buyers is - if sales activity is up, the prices will soon follow. Buy now. Get off the fence. Buy quick. It seems you may have missed the bottom of the market, and if you wait to try to buy at the "bottom" of the market again, you may be waiting many years... and you could miss it again. With interest rates favorable, the combination of affordable home prices and availablity of good loans means that this is an incredible time to be a buyer.

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To read the entire report - click HERE.

For information about sales activity in your neighborhood, sign up for a free (automated) market snapshot here. If you put in your email address and physical address, this report with detailed sales activity will be emailed to you monthly (you can unsubscribe at any time). I am also available to complete a complimentary Comparative Market Analysis for you if you are considering selling in the next 3 to 6 months.

To search for available homes and land in the Northern Virginia area, click HERE, this search links directly to a live feed from the local MLS.

Appraisals, Assessments - What's the Difference?

There is a difference between "appraisals" and "assessments" although the words are commonly used interchangeably. A educated consumer knows the differences: Assessments

• Completed using an automated valuation program.
• Generally done once per year.
• Used to determine real estate taxes.
• Should be within a margin of error of +/- 10%.

Appraisals

• Done by licensed appraiser who looks at the home, and comps.
• Values property "real time" (as of the date of the report).
• Used to support sales prices or loan amounts.
• Should be as close to Fair Market Value as possible.

Fair Market Value is what a willing buyer will pay for a property of a willing seller in an arms length transaction. Fair Market Value is determined SOLELY by the buyer and seller, and will be reflective of the market conditions. If a seller is stuck on obtaining an unrealistic price for their property, it will not sell. If a buyer is stuck on purchasing below reasonable values for the market conditions, then he will not buy. When these two parties meet in the middle they will find Fair Market Value, and each will accomplish his goals.

Appraisals are often part of the sales process, but usually after a price has been agreed to between buyer and seller... appraisals attempt to support the price of the purchase so that financing can be obtained. Assessments are not part of the equation, except when the purchaser attempts to estimate his costs to own the home, and he is determining the taxes due for the property.

Lender or Mortgage Broker? What's the Difference?

Attention: Buyers and Borrowers There IS A DIFFERENCE!

A lender is a specific lending institution, often times a bank, that lends their OWN money. When they pre-qualify you they are using the actual, real time standards that institution has in place. A pre-qualification means something. An approval means something. It means the person that has the money has agreed to give it to you. A mortgage BROKER does not have any money to lend. A pre-qualification means that they THINK they can get a loan for you SOMEWHERE. The approval from the actual lender will generally come at the very last moment, and when it does the loan program may look very different than what you originally discussed. When getting loans was easy, using a mortgage broker offered an advantage because they could look at all the products available on the market, and (theoretically) find you the best loan available - no matter who was offering it. But, today, with loans being harder and harder to obtain, and guidelines and programs changing by the minute, you need to be talking to someone as close to the source of money as possible. When lenders change guidelines or discontinue a loan program, it is their own people who learn of the changes first; and their own people who have opportunities to close loans in progress under those programs. Any broker planning to use the same exact loan program runs a higher risk of not being told as changes are taking place, and of the programs vanishing before the loan can be securely placed and approved. Plus, many banks are considering brokered loans higher risk, since they do not know if that broker operates under the same standards that their employees do. In my opinion, with our current climate, I do not recommend attempting to get a loan through any mortgage broker. And, only use reputable lenders. I recommend you speak to your real estate agent to get a referral... even if you're not buying, but just refinancing - ask your favorite real estate agent for a referral to their most trusted lenders. Remember, without a good lender, a real estate agent may never close a deal. They need to keep lenders who are trustworthy and knowledgeable very, very close to them. Conversely, those loan originators work hard for those agents that are sending them business....they know that messing up ONE loan could cost them the potential of a lot of future business from that agent. As the consumer, you can benefit from that relationship.

Buying at a Real Estate Auction

If you are considering purchasing a home or investment property through a real estate auction, read these posts... they will demystify most of the process for you.

• Introduction to our "What Buyers Should Know About Auctions" series
• Part 1: Where is the Auction Held?
• Part 2: Types of Auctions?
• Part 3: What happens at a Foreclosure Auction?
• Part 4: "Retail" Real Estate Auctions
• Part 5: What Agent Should I Hire?

There are many variables, but hopefully after reading through these posts you are able to understand the processes most commonly in use right now... please don't hesitate to contact me with questions; or for referrals to local auctioneers or REALTOR/auction specialist buyer agents in your area.

Did you know?

• Approximately 25% of properties that are listed for auction are sold PRE-auction.
• Approximately 30% of properties that are listed for auction are sold AT the auction.
• Approximately 30% of properties that are listed for auction are sold POST auction.
• Approximately 15% of properties that are listed for auction DO NOT SELL as a result of the auction.

Auctions Part 5: What Agent Should I Hire?

The last critical post in our series about Real Estate Auctions is about hiring a buyers agent to assist you.

Unless you are extremely savvy and experienced, I suggest you seriously consider hiring a buyers agent. But, let's face it, unless you hire one with experience with auctions, you've done yourself a disservice.

Your agent's role is to:

~Help you do your homework before the sale:

1. To find out the type of auction, and the details about the auction.
2. To make sure you and your inspectors have access to the property to do a full assessment.
3. To get a copy of the Purchase Agreement, make sure you understand it and coordinate you getting any legal advise that may be necessary.
4. To coordinate the RIGHT financing, including facilitating any needed appraisals.
5. To give you comps and educate you (and himself) on the market. To give you a price opinion.
6. To find out if you can make an offer pre-auction, and if so, help you determine if that is in your best interest.
7. Guide you in determining what offers you are, or are not, willing to make to win the property.
8. To help you understand auction requirements (if you most pre-register, if it is live bid only, what deposit is required, etc.)

~Help you stay focused in the quick moving auction environment. It's easy to lose focus and get caught up in the emotion. Your agent will keep you focused and remind you of the commitments (price and terms) you made to yourself when you were thinking clearly.

~To coordinate the after contract process...including lending, appraisals, inspections, scheduling contractors (if needed), ordering title work, hiring the settlement agency, and coordinating any other related details, and to help you keep your head throughout the process.

While it doesn't sound too hard, you'd be surprised. As they say "the devil's in the details". One false move and you'll lose. Your agent should be your best friend, guiding you through the process and making it seem easy. If, at the end of the transaction you are thinking "wow, that was easy, why did I decide to pay for an agent? I could have done THAT myself", that means you hired a fabulous agent. And, the first chance you get, you should hire that agent again. Auctions are tricky.

Ask for recommendations. Hire an "auction specialist"- either someone who is a certified auction specialist (if you can find one), one who's been on both listing and buying sides of auctions, or one who's been an auctioneer AND a real estate agent (and be careful, because sometimes these agents are technically great, but they won't give you the personal comfort level and assurances you want moving through a major financial transaction).

Once you've decided who to hire, make sure you sign a buyer agency agreement so you know the terms of the agreement... how they will represent you, what you must pay, how and when, and what you can expect for that money. Then, check AGAIN on the day of the auction. Unlike traditional sales, not all auctioneers compensate the buyer's agent; and some only pay a portion of what a strong agent will require. Beware of agents charging below market fees - often, you get what you pay for. The right agent will also help you understand how, if at all, that might affect your loan.

Look for, and hire, the right agent; and be willing to compensate that agent fairly.

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I am happy to provide a personal referral to a buyers agent in your area. I have contacts throughout the country. Just contact me directly... Vchrisner@kw.com

Auctions: Part 4 - Retail Auctions

The next in a series about Real Estate Auctions, this post discusses what I call "retail" auctions. These are the ones you see advertised in the late night infomercials, on signs, in magazines, etc. They're held in ballrooms, convention centers, or perhaps at a property. While they may be single property auctions, multiple property auctions are more common, and sometimes have only one owner - a bank, who hopes to dispose of multiple properties at a single event.

These are private auctioneers, hired by sellers (today this is mostly being used by banks to dispose of their post foreclosure holdings). These auctioneers are selected for their promises of grand marketing campaigns. Logic dictates that the more exposure you have, the better your chances of selling a property. Further, with auctions, you create something that has largely been missing from our marketplace, a sense of urgency. That urgency is created by the auction deadline.

These auctions work under the assumptions that the higher number of people in attendance, the better prices the properties will bring. They get consumer attention by giving the impression that banks are pricing them well below market and willing to sell at any price. The auctioneers and sellers hope that once you get the potential buyers in a crowded room they will compete against one another to increase the price. Buyers hope that price is well below market value. Sellers hope it will be well above. The auctioneers really just want it to sell (that part is a secret).

To get attention, the advertisements will say "opening bid $20,000" for a property that is clearly worth $200,000. Since we know the difference between an "opening bid" and a "minimum bid", we know that does not mean that the bank is willing to sell the property for $20,000. When you call the auctioneer, you'll likely be told (only if you're educated enough to ask) that the auction is a "reserve" auction. This frustrates consumers. But, I wish they understood that the auctioneer doesn't just facilitate the transaction, he represents the owner. The auctioneer has a contractual obligation to the owner to hold certain information in confidence, including the minimum selling price. It is in the best interest of the owner that the potential purchaser does not know the minimum selling price until he's made his best and final offer.

In any case, headlines like "Bank sale of foreclosed properties! Hundreds to be sold! Minimum Bid $20,000!" will bring out all sorts of buyers who think they smell blood. And, if you play your cards right, you could be one of them! (lol)

Although it is my goal to dispell myths here, I don't want people to think that the entire thing is a scam. It's not, it's a marketing tool. The sellers (in my examples, the banks) DO want to sell the properties. If they get the right price, they will. While the price is not $20,000... it may be lower than you think.

Before showing up at the auction, do your homework:

• Review the purchase agreement, get advice on it.
• You may need to have your financing lined up (and may be risking your deposit if your financing falls apart after the sale). Check that purchase agreement for financing contingency language. Some allow financing contingencies only if you're getting financing through their preferred lender, which often will be the seller.
• You are likely to have to do any home inspections and perhaps appraisals in advance of the auction. This information, too, is available by reviewing that purchase agreement. Find out (and attend) one or more open house/inspection opportunities.
• You will need to know what money you'll be required to present in order to bid (this is usually a set amount in the form of a cashier's check).
• I recommend getting a broker's price opinion AND an appraisal. Hopefully, the two are fairly close, and then you'll know what your maximum purchase price should be.
• Understand how, if at all, your real estate agent will be compensated by the auction company. They may not be compensated at all, and you may have to pay the agent out of your pocket at the settlement table. It's worth it, but talk to your lender and make sure it does not mess up the ratios required for the purchase.
• Ask if there is a "buyer's premium" and how much. Confirm that the sales price shown on the purchasing agreement will be the "gavel" price plus the buyer's premium, and make sure your lender is comfortable with how that will affect your loan.

Once you get to the auction, you'll be registered to bid, given a brochure and told approximately when the property will be auctioned. Other vendors are likely to be present, perhaps a mortgage company, maybe a title company, etc. who may be able to answer your questions and solicit their services. When your property is called, be ready. Things move quickly. You will have no time at all to think through what you wish to bid. If you are to remain competitive, you must continue to bid. If you need to think about it, you'll lose. Again, your agent can assist you with this process, help you keep your focus. Then, it's done.

The highest bidder wins, if they meet the minimum reserve set by the bank. Assuming there is one, the winner has more paperwork to do, and then you're done. That's it. By the time you realize whether you won or lost, they've auctioned off 2 more properties.

If the highest bid does not meet the minimum reserve required by the bank, but it's pretty close, the bank will often continue to negotiate with the purchaser after the auction...and sometimes, will reach an agreement. You see, the auction is a process, it is not a day.

If there is no satisfactory buyer that produces a bid the seller is willing to take, the property will likely be re-listed again with a "regular" listing agent and marketed through conventional means. This time, the bank's been able to reevaluate the pricing strategy they have, based on the bids received at auction. If the bank had previously priced the property at $210,000, and they had 2 registered bidders producing a high offer of $160,000; then the bank may have the property re-appraised, and may lower the asking price to $175,000; and here they usually pay your agent's fees for you, and allow reasonable financing, inspection and appraisal contingencies, with more time to think about each decision. It's a better process for the buyer, but still has it's own headaches. For more information on purchasing REOs, read my previous posts.

Auctions: Part 3 - What Happens at Foreclosure Auctions

Continuing to dispell myths about real estate auctions, this post talks about What Happens At Foreclosure Auctions....

Leading up to a foreclosure auction, someone who has a lien against the property has exercised their right to foreclose. Guided by state laws and contractual obligations, the lienholder has taken all required steps to hold the auction, including posting the notice in the newspapers in the PUBLIC NOTICE section.

The day of the auction, the auctioneer steps to the courthouse steps, reads a particular script, describes the property and opens bidding. The lienholder often presents a bid in advance, or may send someone to physically present the bid. The auctioneer will announce that bid, which is typically what they are owed, inclusive of late, legal and collection fees. In today's market, it is usually an amount that is higher than the market value. The bank wins the auction, as no one else is foolish enough to bid higher than that, and the property is sold.

It's rather anti-climatic, and buyers who had hoped to buy that property for an amount that is under the current market value are shocked to see that the property is selling well ABOVE the current value.

While there are exceptions, this is what is happening in large numbers at today's foreclosure auctions. Remember, that in the overwhelming amount of cases, if someone can not pay their mortgage, if they have equity in their home they will be able to sell it and/or refinance it into a loan that they CAN pay. So, with few exceptions, most homes that are going to foreclosure are because there simply is no equity left in the property, and homeowners are "upside down" with the debt against the home.

Foreclosure auctions can be great opportunities for acquiring properties below market; but the well educated and well studied investors devote a great deal of time into being able to identify those prime opportunities, and they all show up to compete at the auction. Even then, you may get a "good deal" but it is still representative of fair market value considering that it is a distress sale, and with any distress sale comes some red tape and some level of risk.

In today's market, there are "deals-a-plenty" with less risk involved. I do not recommend that many people purchase at foreclosure auctions.

Despite that, should you decide you wish to, I recommend that you hire consultants to help you, and consult the trustee to learn the required terms of sale. Your team should include a real estate agent who is knowledgeable in the area and with auctions and a real estate attorney who can help you understand the risks involved in these types of sales, including any possible right of redemption the current homeowner might have after the sale. (Yes, that's right, in some cases, the person that lost the home to foreclosure may be able to get the property back - it's called a right of redemption - and the laws vary from state to state.) The real estate agent can assist you with determining an appropropriate value, and help you plan for whatever disposition or long term hold goals you may have (meaning evaluate opportunities to "fix and flip" and/or hold the property as a rental). All costs to conduct due diligence (inspections, appraisals, price opinions, title searches, etc.) are your responsibility.

In the next post, we'll talk about what I call "retail auctions", where privately hired auctioneers are hired to conduct auctions on site or in ballrooms or convention centers, or perhaps an alternative site.

Auctions: Part 2 Types of Auctions

Continuing our series on Real Estate Auctions, this post focuses on the three types of Auctions:

Absolute:

Absolute auctions are what most consumers think of when they hear the term "Auction". It means that once the auction is opened and bidding starts, the property MUST be sold to the highest bidder, regardless of what that bid is. A million dollar property could, theoretically, be sold for $2. It's not likely... but it could happen. Generally, foreclosure auctions are absolute... but be sure to stay tuned for more information; it's not likely that you'll get your Million dollar property for $2, and we'll be explaining why in the next post.

Minimum Bid: With these auctions, the seller has agreed to sell only if the auctioneer can obtain at least a minimum price; and that price is disclosed to buyers. It may be included in the advertising or may be disclosed only upon direct questioning from the buyer or his agent. If the auctioneer cannot obtain that price, then the seller is under no obligation to sell.

Reserve Bid: Here the seller has set a minimum bid, but the auctioneer is NOT PERMITTED to tell anyone what that minimum bid is. We are currently seeing a lot of these types of auctions. After banks foreclose on properties, they will often put a portfolio of properties together and take them all to auction somewhere.

See the next post in our series: What happens at foreclosure auctions.

Auctions: Part 1 - Where is the auction being held?

The first thing any buyer should ask is "where is the auction being held?" We are seeing real estate auctions in many arenas:

• Courthouse Steps
• At the Property
• In Ballrooms, Convention Centers and other Large Meeting Spaces

Are they all the same? The answer is - NO. By understanding where the auction is, you'll understand the intention behind the auction itself.

Auctions done at the courthouse steps are generally ordered by a judge and/or a pre-arranged condition of a contract. In other words, judges charged with determining final disposition of marital estates for a divorce, personal estates following someone's death, or liquidation of someone's assets for collection or bankruptsy proceedings may order an auction on the courthouse steps. In addition, foreclosure auctions are done at the courthouse steps.

You map also see advertisements in the local newspapers, online, on billboards and in informercials for other auctions, held by privately hired auctioneers. These are very different.

Auctions done at the courthouse steps are advertised through public notices in the newspaper. They are "Absolute" auctions (see next post), and rain or shine, the property will be auctioned that day. The auctioneer is under no obligation to do anything special to attempt to get the highest price for the seller. The auctioneer has only the same public information that is available to you if you do your research.

Auctions done at the property and in ballrooms are done by private auctioneers, hired not just for their auctioneer license, but also for their marketing skills and advertising program. They are expected to advocate for the seller. If, on the day of the auction, there are not many registered buyers, or the auctioneer, for ANY reason, feels that the auction is not in the best interest of the seller, the auctioneer has not only the right, but the obligation, to postpone the sale.

In our next post, when we'll will explain the 3 types of auction.

What Buyers Should Know About Auctions

Real Estate Auctions are just one more tool, which can be good for both buyers and sellers in today's market. As they are being used with increasing frequency, I get more and more questions... buyers assume all the wrong stuff. Sadly, I also hear inaccuracies about auctions and intimidation with the auction process, even from real estate agents. So, as a Certified Auction Specialist, and an agent who works with both buyers and sellers, I will make an effort to educate the public on the process. As it is a large topic, I will attempt to share what I know through a series of posts...which are intended to educate buyers, sellers and the general public. Our first post is "Auctions, Part 1: Where is the Auction Held?" . By understanding where the auction is, you automatically know certain things about how the auction will be promoted and run. Stay tuned....

Loudoun's Sales Volume Remain Strong!

Since May, the number of home sales in Loudoun have been up considerably when compared to the same month in the prior year. Check out this chart, showing the number of sales (month by month) for 2007 compared to 2008 (courtesy of the Dulles Area Association of REALTORS):

As of October 31st, for homes priced under $500,000; the inventory level rose to a 5.5 month supply. For homes priced between $500,000 and $700,000, the supply level is holding steady at approximately 9 months. For homes priced above $700,000; the market continues to remain stagnant; rising to an 18 month supply. And for homes with prices of seven digits or more, there is an overwhelming 36 month supply of homes. Post Election Comments....

The last couple of weeks of October, it certainly felt to me like our local activity level slowed a bit as neighbors were drawn to the television wondering what bank would fail next, what the stock market would do and which Presidential Candidate would solve the economic problems of the world.

Now that the election is over, I heard agents across the country breathing a sigh of relief, almost immediately, as they reported an increase in buyer traffic to their listings. I am getting more calls from buyers, and suspect that the year will finish strong, although I still feel hesitancy in many sectors of the market.

Here in Loudoun and neighboring areas, we expect to be hit with a large activity level as the "changing of the guards" takes place over the next few months. Northern Virginia always has high activity levels following elections, especially when there is a change in party. At the same time, I expect buyers to focus on buying homes that suit their needs, foregoing unnecessary luxuries. Families making over $250,000 have seen much of their perceived wealth disappear with the changes in the economy, and many fear coming tax changes promised by President Elect Obama. This will keep them from spending more than necessary on homes; and further delay recovery in the top sector of the market.

MORE RESOURCES...........

See comments on previous months' stats in Loudoun County:

• September 2008 Market Statistics for Loudoun
• August 2008 Market Statistics for Loudoun
• July 2008 Market Statistics for Loudoun
• June 2008 Market Statistics for Loudoun
• May 2008 Market Statistics for Loudoun

Click HERE to view the reports as published by MRIS. Click on News and then on Market Statistics.

To see the graph and other historical reports as published by the Dulles Area Association of Realtors, simply click HERE. Reports are available starting from 1997.

Order a personalized Market Snapshot to give you specific information about the sales activity in your Loudoun County neighborhood! Just Click HERE! This report links to the MLS and reports live data in a personalized format. It takes only about 10 minutes for the report to be calculated and emailed to you once it's ordered.

Short Sales ARE Selling!

Some homeowners being forced to sell today are faced with a challenge because their value may be lower than the mortgage they owe. In these cases, agents, attorneys and other professionals are stepping in to assist homeowners in negotiating with their banks to permit the sale. For months, banks failed to realize the advantage to working with these homeowners and their agents. But, finally, the tides are slowly turning and short sales are being approved! This is reducing the number of home loans in default and offering options to foreclosures.

In cases where there has been a hardship (forced relocation, death or disability of a family member, divorce, job loss, etc.) and where the homeowners are truly indigent and unable to pay, lenders are forgiving the remaining debt. In other cases they are permitting the mortgage deficit to be paid in installments after the sale. But, for every successful short sale, banks are controlling their losses.

Buyers are getting good deals in return for the added patience these sales require. Sellers are able to sell and get out from under a mortgage they would not have been able to continue to pay. Neighbors and communities are avoiding another foreclosed home which may sit vacant for months, racking up unpaid taxes and HOA fees, and becoming a liability to the community as a whole.

Successful short sales ARE a win for everyone. For more information about how you can be a winner, whether buying or selling, please contact me.

The Kind of Neighbors You Want

On Halloween night, I lost my keys. I was in the Leesburg Parade, and was convinced I had lost them somewhere along the parade route. After days of trying to find them, I finally resolved myself to the thought that they were gone forever. I was thinking of the hassle and money it would cost to replace those silly fobs and tokens, car remotes, changing the locks on my house...ugh.

This morning, my husband came back from taking my daughter to the bus stop, and he had a notice in his hand. It was a posting about a set of keys that had been found. Even though I was convinced that the keys had not been lost in my own neighborhood, I called. Sure enough, a neighbor had my keys! Coincidentally, it was the neighbor that moved into a house on the other end of my street, one I sold just a few months ago. In talking to her, she said she had newspaper ads coming out this week... she was so worried about returning those keys to the rightful owner (who she assumed was a stranger). Knowing what is involved with losing a set of keys like that, she was determined to find the rightful owner. Wow, these are the kinds of neighbors you want.

I was really touched... you simply don't see people taking that much time to worry about a stranger. Yet again today, I had another reason to be thankful for the people that touch my life.

It reminded me of our first weekend in this neighborhood, 8 years ago. We didn't have cable hooked up yet, so we had rented movies from Blockbuster. Apparently, while getting the kids in the car to run errands, my husband placed the movies on the top of the SUV, and forgot them. When he drove away, they fell into the street behind him. After getting to Blockbusters, and realizing he didn't have the movies, he was confused. He returned to the house to search high and low for the now missing movies(and, remember, we'd just moved, so the house was total chaos). He found them nowhere. Retracing his steps, we realized he must have left them on the top of the SUV, but they were gone now. On Monday, my husband went to Blockbuster with his tail between his legs to beg forgiveness and pay the fine. Imagine our surprise when he was told someone had returned them, and on time! (This was amazing because in those days, the movies had to be returned by noon to be "on time" and we didn't leave the house until 11 that morning.) A random person, a stranger to us then (years later we found out who it was), had gone out of their way to return the movies on our behalf.

In the 8 years we've lived here, many such episodes have occurred. And, yet, when I am selling homes in my very own neighborhood, I've yet to figure out how to truly convey to people that, somehow, we here in Ashton Downs live in a sort of oasis. Everyone - and I mean EVERYONE here is just good. They're the kind of neighbors you want. How can you put that into a property brochure or explain it to a buyer? I still haven't found the right approach, but I am trying.

Halloween in Leesburg

When we moved to Leesburg, no one told us how different Halloween would be. Here, on “All Hallowed Eve”, children dress in their costumes, lining the streets of downtown Leesburg, to collect treats thrown to them from passing parade floats. The parade is put on by the local Kiwanis club, and this year, everyone in attendance was asked to bring a canned food item to help fill our local food banks. Most floats are sponsored by local businesses, who are having a little fun promoting their business and giving back to the communities they serve. I’m told that the Leesburg Halloween parade is the longest running in the country, which I think is kind of neat. I love to see old traditions remain strong. Here in Leesburg, I see no danger of this tradition ever going out of style. Every Halloween, if you live in Leesburg, you go the parade. EVERYone’s there. You’re IN the parade or AT the parade, but you’re there. Now that we’ve been here 8 years, we’re finally getting the hang of it. In fact, the last 2 years, I’ve been IN the parade; on a float with my brokerage office, Keller Williams Realty of Leesburg. Last year, I drove our float - and it was among the most frightening halloween experiences I've ever had! You try driving a float while dodging 5 year olds who are playing chicken with your truck to get a Reese’s!

This year, I opted to walk along side the float, giving out candy, being careful to reward those children that obediently stood by their moms, despite the greatest of temptations. So, did you see us? What did you think? We didn’t win any awards… but we thought it looked great.

Can you believe our broker (Rick Cockrill) actually had these houses “lying around” as leftovers from a 4-H project he’d done with his son? It was a very easy assembly for us… and special thanks to local J & M Market on Rt 15 (think Pumpkinville) who donated all pumpkins, mums, corn stalks and more. This year, our float was promoting a new web site launched by own of our very tech savvy agents, Steve Lieby. If you haven’t seen it, you should check it out… http://www.callloudouncountyhome.com/. I can not imagine how cool it would have been to have this parade experience as a child. My 2 and 5 year olds left the scene with bags FULL of candy! Pre-teens and teenagers can still get candy without being those annoying kids without costumes at your door on Halloween. I think it's fabulous.

By the time we returned home, two year old Spiderman was done for the night. Hanna Montana, on the other hand, had to take to the streets to see her fans.

Lucky for her, trick or treating in Leesburg starts AFTER the parade. Lucky for me, it doesn’t last long.