Weekly Real Estate Headlines (April 25)

Hello, fans!  Thanks for giving up a few minutes to scan through the real estate news from the week....

Most people know that this week included "Earth Day"; but we'll come back to that.  First, the non-Earth Day related real estate news....

Tick Tock, the deadline for taking advantage of those home buyer tax credits is quickly approaching... if you're looking for home, think strategically: "Snatch The Last Chance At The Tax Credit".

Also, buyers, enjoy this list of Open Houses in Loudoun this weekend (Rain or Shine): http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=36478860534

Does the brokerage matter? or just the agent? Check out this post for some food for thought: http://therealestatewhisperer.blogspot.com/2010/04/does-brokerage-matter.html

So, bank to the 'Earth Day' thing I mentioned earlier.  Why talk about that in a real estate blog?  Well, Earth Day is not about fairs and festivals (even though there are some great ones locally and I encourage you to check them out)... it is actually about (get this) REAL ESTATE.  

Earth Day = Protect the Environment = Protect Our Real Estate

You see, contaminated land has limited uses. Killing off of species of one kind or another in a particular area will impact the local eco system and the local economy... thus impacting real estate values.   Water quality is a huge issue in property values and suitability of land. So, as a REALTOR, this is something I care about a great deal....and I hope that you do, too.

Along that line, I'd like to encourage you to personally 'Take Five'... Join in the EPA initiative 'Take Five' and pledge to take five actions to help protect our environment.  It's easier than you'd think!

And, because (believe it or not) REALTOR Associations are constantly looking out for you, our REALTOR Take Action group wants to tell you about how NAR is protecting the rights of property owners by negotiating changes in the proposed bills for The Clean Energy and Security Act.

Without NAR looking out for you, onerous requirements such as a federal energy audits & energy efficiency labels may have been required on resale properties, the EPA may have been charged with regulating YOUR personal home!  Check out this article for more information. 

That's some real heavy stuff.. so I want to end on a light note (it is the weekend after all)....read on:

You may consider all this 'Earth Day'/environmental stuff mumbo jumbo... and I can respect that.   Besides, if we junk up this place, there are always other place to live, right?  Read this post and take a peak at the alternatives to living here, on Earth: "Mother Earth: Today Is Your Day".   

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Do you have real estate needs? 

If it is real estate related... I can help!

Vicky Chrisner

Ofc 703-669-3142

http://www.vickychrisner.com/

Snatching the last chance at the Tax Credit

Tick, Tock, Tick, Tock... a few of you are still trying to get into contracts by April 30th to lock in that magic home buyers tax credit.... but are you finding it's hard?  I bet you are.  Many price ranges in the Northern Virginia area are really, really competitive.  So, what are you going to do?

Well, my experience is that few buyers put in 'back up' contracts on houses they like....I guess they don't like being second best.  Fair enough, I guess.  But, in this case, if you're trying to lock in that tax credit, you might want to re-consider.

If you're in a ratified contract (make sure you know exactly what this means) by April 30th, and proceed to settlement by June 30th, and you otherwise qualify, then you should be able to get your tax credit. 

I am recommending that my buyer clients consider taking second position in a back up contract (carefully worded) for a home they would like to buy, and then continuing to look for something that is more readily available.  If you find something else, great, you can withdraw that 'back up' contract.  But, If something on that primary contract falls apart (and they do fall apart more often than sellers or agents would like), you'll be assured the opportunity to buy that home you liked before it is marketed again to the open public. 

Plus, if you ratify a back up contract by April 30th, and then the 'primary contract' falls apart in May, and you buy that house and settle by June 30th... guess what?  It may be the 'trick' that puts an extra few thousand dollars in your pocket. 

It is much better than saying to that listing agent "call me if something falls apart"... if it falls apart in May, and you didn't have a ratified contract in APRIL, you may have just left money on the table.

Be strategic all about all aspects of your real estate transaction, and make sure you've hired a buyers agent who is advising you of strategies to save you every penny possible. 

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PLEASE NOTE: I am not a tax advisor, this is real estate advise and not tax advise.  Before relying on the information contained in this post, be sure to check with your professional tax advisor or CPA, or contact the IRS for confirmation.

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Need real estate assistance? I can help!

Vicky Chrisner

http://www.vickychrisner.com/

Ofc: 703-669-3142

On Facebook: Look for "The Real Estate Whisperer"

Mother Earth: Today is Your Day!

Happy Earth Day!

Today serves as a reminder that our Earth is good to us, and we should be good to our planet.... She is, after all, "Mother Earth".

Sure, it's easy to abuse her without thinking... and she's slow to anger, but the signs are there.   You can only push a mother so far before she loses it... and some of us kids have noticed a change.  Her temples are throbbing and her face is turning red and she's got "that look"... you know the one. 

There are holes in her ozone, greenhouse gases are causing hot flashes, and we're melting her icebergs.... Mother Earth is getting angry.  I, for one, do not want to see her unleash all her fury.   And just like any mom, she will punish us ALL for what only a few do.  Not cool.   What are you thinking?  We should just run away from home?  Really?  Have you thought that through?  Where will we go?  It's not like we can ruin this world and move next door.  Have you been to the neighbors' places?

It' goes without saying that we can't live on the sun... We all need our rest and we'd never be able to sleep with all that light.

Admittedly, from Mercury's marketing pieces, you might thing it's the "Hottest Scene in the Solar System"...but not so!  And when the lights go out.... brrrr... the temps vary from nearly 300 degrees BELOW zero to about 800 degrees ABOVE zero.  NOT my cup of tea.

Talk about a "long day"! One day on Venus is 243 Earth Days; and thanks to the greenhouse effects of layers of carbon dioxide in the atmosphere the 'otherwise' cozy 150 degree weather, the surface is nearly 900 degrees!  Venus used to have water (or so they think)... but you can't even go swimming there anymore~all the water boiled away!

Mars is major borefest.... NASA assures us if there are martians they are ameobas or something... no fun there, and I hear they have even cancelled the live music festivals on the weekends because of the economy.  Scientists believe there IS a frozen sea on the planet... and it is thought that it was last liquid about 5 millions years ago.  How long can you freeze fish anyway?  That is not going to be good when it thaws.  Imagine the stench.

Jupiter's known as a "gas planet" ... That means not much of a solid surface, aka no place to sit down.  Oh, they think it probably has a solid core, but who knows because you can't get there. Ever wonder about those visual "bands" we see in the pictures of the planet?  Pretty, I know, but apparently caused by the winds.  You see the wind blows in adjacent bands, moving in opposite directions...so you'll be flying all over the place!  Each band is thought to be made of varying chemical compositions ~ thus the different colors.  I get the feeling this is one of those places that looks better from the outside.

Saturn's atmosphere is 25% helium.  Really?  How could we take anything seriously if everyone was talking in that "helium voice"; and can you imagine Gangster Rap sung in those kinds of voices?  On that planet, I suspect listening to sad country songs would actually make us laugh!  What would you do if you need a good cry?  I heard Saturn's rings are made of ice, so we could skate on them...which sounds awesome, but apparently there's no bus service back to town, and with the helium atmosphere I am not sure we'd ever get back on foot.  I don't want to get stuck on a thin layer of ice just floating in space!

Uranus... OK, let's be honest, I can NOT live in a place called Your-Anus. I can't.  I know I should be more adult than that, but well...I am not moving there, so go on without me.

Neptune is one place I do not think I could "weather".  There is a hurricane that has been raging for over 400 years... did you know that? Crazy stuff... it's known as the Great Red Spot.  And, the planet has the highest sustained wind speeds in the solar system, with recorded wind speeds of 1300mph.  With winds like that, even a whole spray can of "Aqua Net" can't keep your hair in place!

Pluto... Honestly, I was considering moving to Pluto, but it's been annexed or something... there's not a government in place anymore, it doesn't even stay in a proper orbit (sometimes moving close to the sun than Neptune, which is completely inappropriate) and it's been taken off the planet map entirely!  I hear the place is really going down hill.

So you see, we better enjoy what we've got and take care of her.  After all, it's pretty nice place.

This Earth Day, what can you pledge to do to help make Mother Earth Happy?    We're all in this together, and Mother Earth does love her children, so if we can each just do a little, I am sure she'll feel much happier.

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Does the Brokerage Matter?

When you're choosing a Real Estate agent, as a buyers agent or to list your home, does the brokerage matter?

Well, to the customer/client, the primary concern should be the agent himself....your comfort and trust in your agent is KEY to having a successful transaction.

But, to the agent, the brokerage matters, or should, and here's why... and how it translates to you, the client:

A brokerage needs to:

-Make doing business profitable for the agent:  Believe it or not, the huge amount you see on your closing statement does not usually funnel directly in your agent's pocket.  The brokerage takes a cut, sometimes a big one, in the form of a commission split and/or fees to the agent.  The better the agent gets paid, the more incentive they have to keep YOU happy.
-Have supervision and training:  Lots of it!  Things are changing daily in the real estate market - they always have.  And, a brokerage needs to be proactive in educating their agents (who are running around trying to take care of you needs, show you houses, print your brochures, etc) about legislative and industry changes... before the lack of that knowledge gets that agent, and his clients, in trouble.
-Provide resources: All brokerages are making money off the activities of their agents, in exchange, the agent should get resources... Things like... bulk pricing for adverting, use of fancy equipment to produce quality marketing materials, time efficient tools for advertising, reporting, etc... to ensure the bulk of his time is spent on you, and relationships with industry providers like title/closing companies, attorneys, lenders, home warranty companies.. so that when you need something for your transaction, it's readily available to you.  All of this is important.
-Have values and culture:  This may sound like I am being "warm and fuzzy" but don't you want to do business with an agent who wants to do business with people who have values like 'integrity'?, who works in an environment where other knowledgeable agents will share their experiences freely so that all agents can use their collective knowledge for the collective good of their clients?  It translates to a much smoother transaction for you when your agent has a support system.
-Are Finacially Solid: In times of economic uncertainty, this is something you can really underestimate .... I can recall a time in my career where agents would come to work and there would be chains around the front doors announcing an overnight closing of the business.  Can you imagine?  What happens then to your transaction?  To the money the agent is planning to be paid to pay his bills?  Do you think your agent will be able to focus on you and your transaction when his entire livelihood and even his ability to do business that day, maybe threatened by something like this.  Because of laws and rules, if the agent is not associated with a brokerage, even for a day, then he may not be able to sell your house or  market your house, until it is resolved.  What's worse?  Yes, there are stories of funds being embezzled by brokerages, funds of their clients, funds of their agents.  Be forewarned... before you select a fly by night, online agency that operates out of someone's basement, think twice.

So, yes, I think that choosing an agent who has wisely chosen their brokerage affiliation is an important component of determining what agent you're going to hire.

I am proud to say that in all of these, Keller Williams leads the way.  Recently, KW was in the news as a stand out business, one that has remained profitable despite hardships to the industry.  Why?  Well, check out this article and perhaps you'll see what I've been trying to tell you: http://www.entrepreneur.com/magazine/entrepreneur/2010/may/206000.html

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Looking for real estate help?

Vicky Chrisner

Ofc 7036693142

http://www.vickychrisner.com/

Real Estate News This Week

The week started out with "National Open House Weekend", the first ever initiated by the National Association of REALTORS.  High actively levels were reported by every agent I talked to!  I held one listing open on Saturday and one on Sunday, and am pleased to tell you that as a direct result of the Open House Activities, I am currently negotiating a contract on one of the listings!

The week was somewhat slow as news bites go... or maybe I was just distracted... too busy doing work, not enough time to talk or read about it....  But there were a few headlines I saw that I wanted to share:

Mortgage Deduction Appreciation Day:  April 15th, otherwise known as tax day, is known in the Real Estate World as
Mortgage Deduction Appreciation Day.  Along those lines, here's a story from the National Association of REALTORS about the threat of changing laws regarding that deduction: http://www.realtor.org/government_affairs/mortgage_interest_deduction/

Thanks to all who took action to ensure Congress renewed the Flood Insurance program!  Can you imagine having a home in a flood plain and suddenly being unable to obtain insurance?  Read the story Here: http://www.realtoractioncenter.com/

A friend of mine is doing a blog series on "Living Small" which is the newest architectural trend... (although is examples are of the extreme).  It's fun and quirky... check out his latest post: http://livingsmallus.blogspot.com/2010/04/more-tiny-houses-taliesin-shelters.html

That's just about it.... Below you can find a link to Open Houses in Loudoun.  Check them out!

http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=36347835998

Thinking of buying?  Search online for homes for sale at http://www.vickychrisner.com/

Thinking of selling?  Order an automated Market Snapshot for the Loudoun area by clicking here.

Don't for get - to lock in your option to claim the first time home buyer tax credit, you must be under contract by 4/30... and buyers, if you're currently looking and losing in negotiations, consider being a "back up".  Later, you might be glad you did.

Have other real estate questions?

Vicky Chrisner

http://www.vickychrisner.com/

7036693142

National Open House Weekend!

Celebrate the first ever National Open House Weekend ~

Coordinated by the National Association of REALTORS!

Courtesy of "The Real Estate Whisperer", check out this list of fabulous OPEN HOUSES IN LOUDOUN this weekend!

Saturday (14 houses open):

http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=36207027601

Sunday (30 houses open):

http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=36207034318

Thinking of moving in the near future? Fan "The Real Estate Whisperer" to get this list every weekend!

Or, for a personal list of homes that are open each weekend, email your selection criteria to vchrisner@kw.com!

FHA Moves into the 21st Century!

Thanks to efforts by DocuSign, the National Association of REALTORS, the staff at FHA and many others, the real estate/lending industry has taken a major step......

Today, April 8, 2010, the Federal Housing Administration (FHA) issued a mortgagee letter permitting the use of e-signed documents! (The letter can be found on HUD.GOV website.)

What a break through! With real estate contracts usually being 20-30 pages long, this is going to really save a lot of trees... no more printing, signing, faxing/scanning; with the parties on the other sides having do the same, sometimes multiple times.

Sometimes my files end up 2 inches thick filled with printed copies of offers/contracts that don't even get ratified.  I know I have been keeping files half electronic, half paper but with this step, my office will be focusing on having all records be 100% electronic.....and I am sure I am not the only one.

But forget about the records and the green aspect... the convenience level for customers, clients and agents is HUGE.   Clients no longer have to worry about making time to see their agent in person, or alternatively to have a printer, and paper, and a scanner available to approve a simple contract change!  This will save time, money and resources! 

It's rare that I would say something like this, but today, I must say....

Hip, hip Hooray for the FHA!!!

This Weeks Headlines

Thanks for tuning in this Saturday morning, as I post the "real estate headline highlights" for the week.  To get this information in daily doses, fan "The Real Estate Whisperer" on Facebook!

REAL ESTATE AND FINANCE

BRING ON THE HIGH INTEREST RATES: The Fed Plans to cease purchasing of mortgage backed securities. These purchases have been creating artificially low interest rates; but the fed says they’re going to stop. We’re expecting interest rates to begin to tick up. READ MORE HERE

THE NEW LOAN MOD/REFI PROGRAMS: Last week, new loan modification and refinance programs were announced to help aid underwater homeowners. After reading the fine print, here’s the scoop – CLICK HERE

FLOOD INSURANCE, RURAL HOUSING LOANS: The REALTOR Action Center wants YOU to know about pending legislation and how you can affect change! There are 2 pending pieces of legislation that MUST be completed. * One is regarding the availability of flood insurance. Currently NO NEW OR RENEWED flood insurance policies can be issued!  * The second is the lack of availability for insurance for Rural Housing Loans. In many areas of our state, including parts of Loudoun, Prince William and other nearby areas, Rural Housing Loans are affecting the affordability of housing for potential homebuyers. Without them, it’s yet another loss to our real estate market.  READ MORE AND TAKE ACTION – It’s Easy.... Just CLICK HERE

LOCAL ECONOMIC NEWS

GOVERNOR SIGNS NEW MEASURES TO CREATE 30k NEW JOBS AND $311M IN REVENUE: Governor Bob McDonnell signed 5 measures into law which are expected to create 30,000 new jobs and $311 million in revenue for Virginia! With new tax breaks, businesses can easily relocate to Virginia temporarily.  One of these measures offers as much as $22 million for the Center for Innovative Technology in Herndon. This can only be good for the housing market: Read more: McDonnell rolls out economic development package

AROUND THE STATE:  Signs of New Job Growth in Virginia....Check out the newsfeed on the Virginia Homeowner Alliance Facebook Fanpage.

HYPER LOCAL NEWS:

LOUDOUN STILL HAS AAA CREDIT RATINGS: Fitch Ratings announced yesterday its award of AAA rating to Loudoun County for $102.1 million in general obligation refunding bonds that are expected to be sold April 8. The rating agency also gave the AAA rating on approximately $880 million outstanding general obligation bonds. "Loudoun County exhibits strong economic and social characteristics, including a wealthy tax base, above-average income levels, a low rate of unemployment, and a highly educated labor pool," Fitch noted in its analysis..READ THE WHOLE ARTICLE.

LOCO RECEIVES NATIONAL RECOGNITION FOR COMMUNITY ENERGY EFFICIENCY PROGRAMS: http://www.loudoun.gov/Default.aspx?tabid=3106

FFX CONSIDERS DUMPING COMMUTER BUS ROUTES: http://www.gopetition.com/online/34495.html%22%3EOnline

LOCO OFFERS POST PURCHASE SEMINAR FOR NEW HOMEOWNERS: http://www.loudoun.gov/Default.aspx?tabid=3117

AND THE HUNT BEGINS: IF YOU HAVEN'T COMPLETED YOUR CENSUS FORM AND MAILED IT IN, THEY'LL BE COMING FOR YOU SOON: http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.loudoun.gov%2Fcensus&h=07fc667235890df5374c7113de6257d5

LEESBURG LAUNCHES KEEP LEESBURG BEAUTIFUL MONTH: http://www.facebook.com/pages/Virginia-Homeowners-Alliance/65281145212?ref=ts#!/event.php?eid=112036268813344&ref=mf

LOCO MOTION: Check out this month's edition of LoCo Motion... find out where the local movers and shakers are moving and shaking! Take a sneak peak of Loudoun's economic indicators. READ MORE.


OTHER REAL ESTATE RELATED NEWS:

HOMELESSPETS: The economic crisis has so many victims, not the least of which are our cats, dogs, horses and other pets. What happens to them when the family literally loses the farm? There’s a non profit that’s working to help ease this crisis. Find out more: http://www.foreclosurepets.org/

ARE YOU LIVING LARGE? GOING GREEN? ALL THIS IS THE MOVEMENT OF YESTERYEAR: Are you on the forefront of trendy trends in housing?  If so, you're apartment just got a lot smaller...READ MORE: LIVING SMALL

NEW AUTOMATED NEIGHBORHOOD SALES REPORTS:  The Real Estate Whisperer asks for you to try out this new web site, and provide feedback on the automated neighborhood sales report you receive. Available for 20175 zip code and surround areas:  http://www.20175homesales.com/

TAKE ACTION! Important pending legislation... tell Congress you care!

Real Estate Whisperer & REALTOR Action Center want you to know about these critical housing programs. 

IF YOU OWN PROPERTY IN A FLOOD ZONE, YOU NEED TO KNOW ABOUT THIS! This legislation has to do with the availability of flood insurance and also rural housing finance insurance programs. Both are critical to our housing market. 

Please help us urge our representatives across the nation to finish up these important issues.

Learn more, including how to quickly and easily let your representatives know how you feel:

Take Action: Unfinished Business on Critical Housing Programs

Want to stay in the loop about things like this?  Fan "The Real Estate Whisperer" on Facebook today!