Thursday, April 14, 2011

Real Estate Tax Exemption for Disabled Vets (Virginia)


Real estate taxes in Fairfax and Loudoun are pretty high, but we get some great stuff in return - benefits I don't mind paying for. That's probably what our Vets here thought, too... until they became disabled. With less income, it becomes much more of a burden to pay for all of that infrastructure. And now they can get a pass!

Virginia voters authorized a new real estate tax exemption last November. The legislation provides for an exemption from county real estate taxes on the principal dwelling and up to three acres for veterans with a 100 percent service-connected, total and permanent disability. Persons desiring the exemption are required to file the necessary form and provide qualifying documentation. This exemption is also extended to the veteran’s surviving spouse, so long as the death of the veteran occurred on or after January 1, 2011, the real property is maintained as the survivor’s principal residence, and he or she does not remarry.

If your home is in Fairfax, go to this web site for more information and forms: http://www.fairfaxcounty.gov/dta/realestatetax_disabledveterans.htm

If your home is in Loudoun, you can apply by going to www.loudoun.gov/taxrelief-forms, by calling the Commissioner’s Office at 703-737-8557, or in the Commissioner’s offices in the County Government Center in Leesburg or the Loudoun Tech Center in Sterling.

In other counties contact your local taxing authority.  Applications should be available throughout the state.
I would just like to take this opportunity, from the bottom of my heart, to thank ALL our Vets for their many sacrifices... sacrifices I am not brave enough to make personally. What would I do without you? You are all HEROS to me. THANK YOU FOR YOUR SERVICE.


Play Houses That ROCK


I saw this article this morning, and all I could think was....

Dear Daddy,
When I asked for a playhouse and you gave me the shed you'd previously kept the mower in (because you bought a newer bigger one of those)... Well, perhaps I should have been more specific.
From,
Your Loving
(And Wishing I Could Keep Up w/the Jones's) Daugther




"LIKE" www.Facebook.com/TheRealEstateWhisperer for 'Real' Real Estate News;
PLUS, fun real estate related thoughts like this one!

Vicky Chrisner
Jealous (Even Now That I am A Grown Up) Daughter
and
703.669.3142

Monday, April 11, 2011

Common Short Sale Terms Explained

In this business we tend to throw around industry lingo and that can make it hard for our clients to follow certain conversations.  So, some time ago I prepared a "glossary" of sorts for my sellers who were considering a short sale.  These are terms specific to short sales, and the terms are defined in the most common use as it relates to short sales.   In case you're feeling a little lost in the lingo, I hope this will help.

Debt Forgiveness:  The lien holder may or may not provide debt forgiveness for the deficit after the sale. In general, we’re hearing that lien holders are requiring a payment equal to 10% of the deficit. My personal experience is that lien holders will generally accept much less – usually an amount equal to one month’s mortgage payment – in exchange for debt forgiveness.

Default:  Failing to adhere to a contract is default. As it relates to short sales, we’re usually talking about a property owner who has not been making their payments, thereby defaulting on their loan and risking foreclosure.

Deficit: The difference between the sale proceeds received by the lien holder and the balance due on the lien.

Foreclosure:  When the bank/lender/mortgage company takes ownership of the property because of default or other breach.  In Virginia this is done at an auction held at the courthouse steps.

Lien:  When real property (real estate, homes, land) is used to secure a debt we call this a lien. Generally, we’re referring to mortgages, but there can be other liens as well.

Lienholder:  When we’re talking about short sales, the lien holder is usually the mortgage company.

Mortgagee: The entity to which the debt of a mortgage is owed (also called the sellers lender or bank).

Servicer: The company to which mortgage payments are made is the servicer. The servicer may or may not be the actual mortgagee. This means sometimes we must negotiate through the servicer with the mortgagee.

Short Sale: Short sales are done when an owner needs to sell their property and the proceeds from the sale are not enough to pay off the liens against the property, so the owner must negotiate with the lien holders to release the liens to allow the sale. This gets complicated when there are multiple lien holders with whom one needs to negotiate. (The “second” or “jr.” lienholders are those that are generally owed the lower amount, and their liens are secondary to the primary lienholder.)  (We also refer to short sales as one type of "distress sale" and/or "pre-foreclosure."')
 * * *

Have I missed any?  If you have heard terms thrown around and you're not entirely sure what they mean, please don't hesitate to contact me. 

Vicky Chrisner
703.669.3142


DISCLOSURES:
Please note I am a licensed REALTOR (R) in the state of Virginia, I can not provide legal counsel and I cannot provide real estate advice regarding properties outside the state of Virginia. 

Further, my service area is limited to Northern Virginia.  So if you have an individual question and own a property in Northern Virginia, please feel free to contact me.  If your question pertains to a property outside of my service area, please contact a competent REALTOR(R) or attorney that services your area. 

What the federal government thinks you should know about hiring someone to negotiate a short sale for you.

Saturday, April 9, 2011

Internet Advertising~ Beyond The Basics

Most buyers use the internet, with or without the assistance of their real estate agent, when searching for homes.  So internet advertising is a major focus of my marketing campaign.

When you list with me, we’ll have access to the Keller Williams Listing System, or KWLS. This proprietary, exclusive system ensures your property is marketed online 24/7 through more than 350 of the most popular search channels and over 76,000 total web sites. 

In addition, my marketing package also includes enhanced listing options through REALTOR.com and Trulia to assure maximum exposure on the most popular real estate web sites for buyers of property in our area.

Check out the picture below to see just some of the major real estate sites where your home will be advertised:

Thinking of selling your home?  I can help!

Vicky Chrisner
703.669.3142

 
Home Sellers May Also Like These Posts:

Thumbtack Business Listing

I have just listed my business with Thumbtack. 
Check out the listing~ Click Below:

Vicky Chrisner
Keller Williams Realty

Friday, April 8, 2011

Tax Auction Sale in Loudoun County

A tax sale auction of certain properties with delinquent real estate taxes has been scheduled by the Loudoun County Treasurer's office.   The sale will be Wednesday, May 11, 2011

.
Properties for sale include:


  • 44075 PIPELINE PLAZA #305,in Ashburn; PIN 087-29-4881-014
  • 1.63 acres near Bluemont; PIN 653-37-5970-000
  • 17550 FORT JOHNSTON RD,in Leesburg; PIN 269-17-5171-000
  • 2.54 acres SYCOLIN,PARCEL A; PIN 192-16-6161-000
  • 576 EDMONTON TE NE in Leesburg; PIN 148-37-0881-000
For more information, please contact:

Vicky Chrisner
703.669.3142

Could a Government Shut Down Impact Your Home Purchase or Sale?

The answer, sadly, is yes.

According to THIS DOCUMENT summarizing the expected consequences to the real estate and loan industry of a government shut down, the following programs could be impacted as explained:

FHA (Federal Housing Administration): No new loan commitments will be issued nor will FHA closings be authorized during the shut down.  I am particularly interested in this since so many FHA buyers are working hard to get homes under contract so that new loan commitments can be issued before the FHA mortgage insurance cost increases (set to increase 4/18).   My guess is that if you don't  have your loan commitment issued by today, and the government shuts down, you're probably going to be paying that higher mortgage insurance rate.  Buyers, and sellers, beware.  This will reduce the buyer's ability to pay as much for the home they choose.  Watch this video for some interesting info on FHA loans and our current market.

Rural Housing Loans:  If the lender had received a conditional approval prior to the shut down, they are authorized to proceed to closing.  HOWEVER, no new approvals will be issued during the government shut down.

IRS: If a buyer or seller is expecting an IRS refund check that will help them pay for purchase, sales or moving costs, watch out.  The IRS will only collect money, not spend it, during a government shut down.  In other words - no refunds until the fed is fully functional again. 

Also, most loans in process now require receipt of an IRS transcript.... it's tough to get that when the IRS isn't returning phone calls.  Unless lenders find a way around this requirement it could slow down processing of ANY purchase loans - even conventional loans.

Social Security/Disability:  The information from NAR does not discuss these programs, but I do recall that in the last government shut down many elderly and disabled were without income.  This could impact buyers or sellers depending on those funds for moving or closing.  However, the way I remember it impacting "real estate" last time was in the context of rentals.  A delay in receipt of a government check might mean someone who can't pay their rent on time.

HAFA and HAMP:  We're not sure about the HAFA and HAMP programs which are government sponsored programs allowing loan modifications and short sales.  One theory is that those programs will continue as normal since they are "mandatory" spending programs.  But we can't be sure. If you're in a short sale transaction, it is entirely possible that the process will be slowed.  But stay tuned as more clarity is offered on this subject.


Good News.  We're not expecting interuptions of

  • VA loan programs
  • FEMA (Flood Insurance)
  • Fannie Mae/Freddie Mac
  • Federal Housing Finance Agency
But even with continuing operations for these types of loans and private lenders, getting employment and income verifications completed is going to be tough for anyone.  As mentioned earlier, most lenders are requiring an IRS transcript with EVERY loan.  And, anyone in a federal job or working for a contractor, who gets furloughed, doesn't have income... at least not until the government is back to work.  That is going to effect their ability to qualify for their new home purchase.

I'd like to thank the National Associate of REALTORS(R) for providing this information so I can in turn provide it to you.

Thursday, April 7, 2011

"Run Me Home" to benefit Loudoun County Foster Care & Adoption


Keller Williams Realty supports "RUN ME HOME", an event to benefit children in Loudoun County by raising awareness and funding for Loudoun County Foster Care and Adoption.

When: Saturday, April 30, 2011, 7:30am
Distance: 5K, 10K, and Kids Fun Run
Course: The race features a fast and scenic course in Historic Leesburg, VA running along the W&OD trail. 

More information: Facebook @ Run Me Home or http://www.runmehome.com/

The event is being coordinated by Brian Whritenour, Founder of Run Me Home and a fellow Keller Williams agent from our Loudoun Gateway Office.


Wednesday, April 6, 2011

We Need Sellers!

We need sellers!  It's true.  Inventory levels are very low right now in our area. 

Check out this article in the Washington Examiner talking about what a hot market the DC Metro area is!  It's true that sellers are now seeing multiple offers on competitive priced homes in good condition.  The charts below show the inventory levels (in grey) for Fairfax and Loudoun Counties.  The green line indicates the absorbtion level (note it is higher than the inventory level).  Basically, it means good listings are selling like hot cakes!


If you own property in Fairfax County or Loudoun County, or anywhere in Northern Virginia, this may be the time to try to sell.  The "stars may be aligning".  Call me today for a personal consultation.

If you're looking for a sneak peak showing you what nearby homes are selling for, check out this automated tool: http://www.salesinmyneighborhood.info/.  You do have to enter a good email address - the report takes a few minutes and is emailed to you after your request goes through... that is because it is tailored to the information you submit.  It's a pretty good tool, of course a human produced comparable market analysis is better... but if you're looking for an automated tool this one is pretty good.  (Oh, and no worries - you never get bulk email from submitting your email there. Promise.)

Vicky Chrisner
703.669.3142

 Other posts that may be of interest to sellers:

1 - Preparing your home for the market
2 - Dear Sellers, I am confused (the importance of property condition)
3 - Showing Feedback

Tuesday, April 5, 2011

Showing Feedback

An agent friend of mine has a listing. I gave her feedback and said the home showed "rough". I told her it was:
  • Was cold (thermostat at 55 degrees)
  • Was dark (the blinds were all closed)
  • Needed a paint job (most of the walls were marked up, and it looked like cheap paint - the exceptions were rooms with highly personalized color choices... orange, pink, purple, blue - a good paint job and quality paint, but not widely attractive)
  • There was dust caked on the baseboards, the carpet was in bad shape.
The house is vacant so all of these things are really all you can focus on. Sure, it's got great bones, a two story foyer, a large (albeit dated) kitchen, a large and private lot (but the back is steep, and I wouldn't want to mow it, but there is a lot of privacy), a finished basement, a nice deck, etc. etc. The list of "positives" goes on. But the focus is on the list of things I pointed out above.

My friend tells me that she is so disappointed.  This feedback is consistent with what she is hearing from all the agents that have shown it: 6 in 4 days.  You see, they priced it at exactly the closing price of the last home that sold in that neighborhood.  That home was the same model.  It did have a "better" lot but wasn't as private.  It had an unfinished basement.  Otherwise, it was basically the same, and that house had multiple offers in 3 days.

My point of this post is "condition, condition, condition".  If buyers buy a "fixxer upper" they want a "fixxer upper" price.  Even with the unfinished basement in the other house vs. the nicely finished basement in this house, the emotional appeal is different because of the cold, dark, dirty feeling of this new home on the market.

My friend is newish to the real estate game and a part time agent.  She probably only sells about 4 or 5 houses a year.  She says she is afraid her sellers will think she didn't do her homework on comps.  Well, she did her homework there, but that was easy.  A huge part of a listing agent's job is coaching sellers on how to prep their home for sale and the importance of it.  I sent her an email reply that said... "Don't take it personal. Everyone is being blunt because they are trying to help you.  Now you know what you don't have an offer.  You have the opportunity to call your sellers and tell them they will either need to hire painters and get new carpet in there or they will need to adjust their price.  The price adjustment will probably cost them more than the paint and carpet."

I can not stress enough how much the condition of a home matters. Check out these prior posts where I am doing everything I can to share with you the importance of making sure your home will bring a quick and painless contract.  It's all in the prep work:
Dear Sellers I'm Confused - How NOT to Sell Your House
Is Your House Ready For The Market?

Ready to sell?
I can help!

Vicky Chrisner
703.669.3142

Dear Sellers, I am confused...

Dear Sellers:

I get so confused sometimes when I try to help you sell your home.  You see, I have these buyers.  Online, it looked like your home fit their criteria - the price and location are just right, and the description of your property made us think that your house could be "the one". 
I looked, and I saw your requests about scheduling showings and how I could get access.  I complied.  I always try to call the day before if I can.  You agreed to the showing.

But then I get there and I am so confused....
  1. Why is your home so cold in the winter and hot in the summer?  Doesn't the HVAC work? My clients and I could barely stand to be in your house very long, and all we remember about it now was how miserable we were inside.
  2. What was that smell?  My clients are afraid it will never come out of the house.
  3. I was actually a little spooked.... Did you know I was coming?  All the lights were off and I could barely see to come in the door. 
  4. Why didn't you answer the door?  You were sitting in that front room, and I knocked, and knocked and rang the doorbell before I used the key.  You scared me sitting there on your couch in your bathrobe. But, don't feel bad... we didn't really want to look at the *whole house*... the locked bedrooms and basement weren't a turn off at all.
  5. What were those symbols all over your house? My client thinks you're a devil worshipper and won't even talk about buying your house. I tried to tell him that wasn't the case, but he won't listen to me.
  6. Why is the dehumidifier in your basement? I noticed the new carpet down there, too. We're putting two and two together .... and we've moved on.
  7. Yes, we were planning to see your home, but when we pulled in and there were all those toys and trash in your front yard, my clients didn't want to come in. Sorry.
  8. I can appreciate that you're offering to put in the new carpet "buyers choice". That's nice. But what happened in this house on that carpet? O.M.G. Was that blood? Did someone die in there? Did you let the horse stay inside the house? No, we'll move on to another house. Thankfully there are 10 more in your neighborhood.
  9. Thanks for giving me the personal tour. I would never have known that was the dining room. Really. In 20 years in real estate, it's just something I haven't learned to identify all on my own.  And that story you told? Wow.  Great story.  Unfortunately, we can't really remember now what your house looked like.
  10. Do you know that your kids put signs up all over the house saying that it is haunted? I am guessing you don't know that. You might want to talk to them, or have the house exorcised.
Oh, and about the pets...
  1. Why do you have so many cats?  It wasn't advertised as a cat house.
  2. That snake in your living room is creepy, and so is that eel in your basement.
  3. When is the last time you cleaned that fish tank?  Wow... now that I look a little closer, when is the last time you *really* cleaned anything - that HVAC filter is as awful looking as the fish tank. Oh, and I think the fish are dead.
  4. Your bird never shut up.  And we couldn't help but notice you keep him in the kitchen, his (dirty) cage over the countertop... My client kept wondering how often bird poop had been on the counters where he would prepare food. It sort of grossed him out. So we just left and headed over to the 7-11 to buy some tylennol.
  5. We just have one question... have you ever lost one of your lizards or rats in the house?  My client is really concerned about that.
  6. Oh, by the way...maybe you never noticed, but your dog is really scary.  He didn't want us to come in.  So, we didn't.  Have you talked to him lately?  I am pretty sure he's not planning on selling... and without his help you're not going to either.
Certainly, my dear sellers, it is your home.  Have your pets, keep your trash on the lawn, don't use the HVAC....I respect your right to use your home as you see fit.  I am just saying that you're acting a little more like an "owner" and not like a "seller".  The good news is that you will probably get to keep your house, and keep on using it just the way you want, for a very long time.  Well... if your dog wants you to.


I turn OWNERS into SELLERS. 

Thinking of selling?  Take your "flexible" pill and call me.  I can help you if you'll let me.

Vicky Chrisner
703.669.3142

Its Taste Test Tuesday Again!

It's Taste Test Tuesday!  That means that here or on the www.Facebook.com/TheRealEstateWhisperer page you will be able to take a peak at a few different houses and give your feedback on which one you like best.  Last week, I chose homes that were Single Family Homes for sale in Loudoun County...the listing price was $699K for either home, one a historic home in Middleburg and the other a 20 year old home in Purcellville.  The "winner" based on feedback on the facebook page was clear. Check out the page to see the comments.

This week, I am pulling Single Family Homes for sale in Fairfax County, but keeping the price the same.  Check out the pictures below, log onto our facebook page and cast your vote.  The big reveal will come sometime after we've gotten several comments and/or no later than 9pm tomorrow... we'll give you links to the listings and more details and then you can let us know if the "additional" information changes your vote for which house is "best". 




So???  What's your pleasure?  Let us know!

Looking for a home like one of these, or any other? 
I can help!

Vicky Chrisner
703.669.3142

Monday, April 4, 2011

Everything You Say Can And Will Be Used Against You

Do you really understand "AGENCY" in the real estate world?  Probably not.

To me, the number one duty of a real estate agent when you are in an agency relationship with them, is to protect your confidentiality.  If you are a buyer and have a written buyer agency agreement with an agent, then you have your very own buyer's agent and they are required to keep their mouths shut and not share with others the things you tell them, except on a need to know basis and with permission.  If you are a seller and have a written seller agency agreement with an agent, then you have your very own agent, and the same thing goes. 

HOWEVER, when you meet another agent, whether you're a seller and you meet the buyer's agent or you're a buyer and you meet the listing agent, be forewarned:  Everything you say can and will be used against you later in a negotiation. 

I think real estate agents get a bad wrap for this, but it's our job.  Unless you have a written agency agreement, then we don't represent YOU.  We owe you no duty of confidentiality. And, in fact, we may owe another party an obligation to share with them everything we know. 

I sort of touch on this a little when I explain in this post why I like to do my own open houses and show my own listings.  This is the sign of a good listing agent (in my humble opinion).  But, a smart buyer won't open themselves up to it... at an open house they will be courteous, give the name of their agent, look at the house and leave.  Why?  Because in addition to selling the home, my job is to get the highest amount of money and best terms for them as possible.  Yes, to be a spy for my clients.  I am supposed to seriously check out the buyers, watch for body language, listen to their phrasing, hear their questions and even more importantly their statements.  With casual conversation I am usually able to determine how qualified the buyers are, how motivated, how our home compares with others they have seen and maybe even just how much they're willing to pay.  It's called sales.

I'll admit I haven't (yet) sunk to the level of checking the facebook page for the "other party" (be it seller or buyer).  But, after reading this story out of LA, it may be going on my list of reconnaissance activities

This post is not intended to make you afraid of real estate agents.  We're not evil people, we're nice people (most of us anyway) and once we're hired to do a job, we do it.

Representation in a transaction makes a difference.  I recommend every buyer and every seller have their own agent.  This goes for new home sales, too.  A salesperson, whether a listing agent on a resale or a builder's rep, does not represent the buyer.  Buyers need to have their own agents if they hope to be on an even playing field with the builders.

Ready to hire your own agent?

Vicky Chrisner
703.669.3142

Cinderella Tea 2011

Last year I had an opportunity to work on the committee for the "Holiday Tea with Cinderella and her Friends".  It is a huge fundraiser benefiting Blue Ridge Speech and Hearing, a not for profit agency assisting those with speech and hearing difficulties (regardless of their ability to pay).  BRSH is located in Leesburg and serves all of Northern Virginia.

The event is a formal tea party with ballet featuring Cinderella and all her friends.  Before the event, there are pre-ballet activites.  Last year this included facepainting, Make up tables, nail painting, dancing lessons and photos with Cinderella and the Fairy Godmother.

There is also a raffle and silent auction.

The event is in November, but ticket sales have already started.  Right now, they're being offered at last year's prices but we do expect the prices to go up. It's been a sell out every year and this year there will be 2 shows - a morning seating and an afternoon seating.

If you're interested in learning more, check out the information from last year's event at http://www.cinderellatea.com/; the blog http://www.cinderellatea.blogspot.com/; and the facebook page www.Facebook.com/Blue.Ridge.Princess.Tea

If you'd like to purchase tickets, sponsor the event or volunteer, contact Committe Chair Ann Kerr at 540-338-9040 Andrcominv@aol.com.

* * * *
And Remember...

When it's time to change your address, Servants Quarters to Castles, I can help!

Vicky Chrisner
703.669.3142

Sunday, April 3, 2011

Successful Open Houses - The Series

How do you feel about Open Houses?  No, statistically very few homes are sold at open houses.  I think, however, that is because most agents don't approach them strategically.  I do.  I have sold many homes because of an open house.

I admit that sometimes I am selling the house and the buyers already have an agent... but the point is had they not seen the home with me, I am not sure they would have bought.  Why? Sales skills.  Pure sales.

Here are some tips, step by step, on making sure that Open Houses are successful:

Successful Open Houses Part 1: Location  For some houses, it just doesn't pay to have an open house.

Succesful Open Houses Part 2: Timing   What is the right day and time to do an open house?

Successful Open Houses Part 3: People  Without the right people involved an open house can back fire.

Successful Open Houses Part 4: Promotion  If you're not promoting your open house, what is the point?

Successful Open Houses Part 5: Beyond Promotion  If you are lucky enough to get buyers through the door, make sure you do everything you can to close the sale.

Open Houses are only one component of a successful marketing campaign, but it must be strategic.  Sure, you can throw speghetti at the wall and sometimes it will stick, but if you are purposeful and strategic, the chances of it sticking increase dramatically.

Happy Selling!

* * *
Hire an agent who knows how to market and sell homes, hire me:
Vicky Chrisner
Real Estate Sales Consultant
703.669.3142



Successful Open Houses-Part 5: Beyond Promotion

When you get the buyers to attend your open house, the next step is to sell and close. Setting the stage is crucial.
  •  Make sure the home looks and feels its best. 
  • Utilities should be on.
  • Home should be a comfortable temperature (even if it is vacant).
  • Have some seating available to buyers and agents.
  • Have a bathroom which is stocked with needed supplies so visitors are welcomed to use it.
  • Have refreshments on hand to slow down your buyers, make them feel welcome and get them to talk.
  • Make sure the owners are no where to be seen.
  • Have brochures and fliers available.
  • Have area and real estate information on hand to assist with the sales presentation.
  • Have a lender available to discuss financing options.
  • Have a licensed real estate agent, ideally the listing agent or someone who knows the area and the home well, hold the house open.  In the hands, the open house can be a detriment.
SIGNING IN

I do not require people to sign in at open houses.  If they don't want to, then there is no advantage, they will just give you false information.  I always offer it.  And if they prefer not to leave their information, I do ask them for names and make notes from our conversation in case they reappear at some later point.  If they are working with an agent, I ask that they write their names and provide contact information for their agent so I can appropriately follow up later for feedback. 

People who are interested will leave their contact information and tell you how they want you to follow up with them.  I think it goes without saying, follow up when people want you to.  It means they have at least some level of interest in either the home or other services.

If you want someone to leave their contact information, offer them something of value.  This can be anything from a list of future open houses if they are self described "tire kickers" to a gift certificate to a local business that is randomly drawn.  Have a value offering and you'll get contact information.

Read the entire season on having a successful open house by clicking here.

Successful Open Houses - Part 4: Promotion

If you're not going to promote open houses, then what is the point?

A successful open house requires using a customized version of THIS OPEN HOUSE CHECKLIST.  Since every home is different, and all marketing should be strategic, it pays to customize the checklist.  Regardless of customization, some things should always be in place, and it requires a week or more of promotion:

A week or more in advance:

  • COORDINATE: If possible, coordinate to have several homes in the same area open at the same time.
  • ORDER DIRECT MAIL: Consider sending direct mail that will be delivered 2-3 days before the open house. If there is a lot of rental housing nearby, those are great targets. This sometimes requires that the post cards be ordered and mailed more than a week in advance.
  • NOTIFY NEWSPAPER: If you're using newspaper ads, get those ads placed on time so as to make the publication.
The week of the open house:
  • RIDER: As many as 6 days before the scheduled open house, add a rider to the sign to let neighbors and people driving by know when the open house is.
  • BLOGS: Write the blogs about the open house and submit to the various real estate sites.  Send a copy to the seller and ask them to let their friends know.  This should be done 2-6 days before the open house.
  • MLS:  Get the listing live, add the open house to it, and be sure to include in the comments section the date and time of the open house.  This should be done as soon as possible, 2-6 days before the open house.
  • OPEN HOUSE ONLINE LISTINGS: Several web sites list open houses.  Make sure you've listed it with all of them. This should be done as soon as possible, 2-6 days before the open house.
  • EMAILS: Email your sphere of real estate agents asking them to invite their clients.  Email potential buyers in your database and using any "Listingbook" type services in place for that area.  Do this 1-2 days in advance.
  • SOCIAL MEDIA:  Place the link to your blog advertisement on your FB, Twitter and other social media sites.  This should be done no more than 2 days before the open house - 1 day before and then again the day before are ideal. 
  • DIRECTIONALS:  Some directional signs should be put up as much as 2 days in advance (depends on neighborhood and local restrictions).  Then, more directionals added just before the open house.
  • BALLOONS:  If permitted, add balloons/flags or other eye catching additions to the sign in your yard to let people know that indeed their presence is welcomed.
This combination of things I have found will really generate interest.  In my opinion if you're not doing an open house RIGHT, then there is no point in doing one at all.

Read the entire series on Successful Open Houses by clicking here.


Succesful Open Houses - Part 3: People

It's actually sad to believe but many agents don't hold their own open houses - ever.  Sure, sometimes I have conflicts and can't be at two places at once, and therefore need to get someone to pinch hit for me.  But if I can, I always hold my own listings open.

You see, I prefer to show my own listings. No, this concept is not because I potentially stand to gain more commission. This is because I know the property and can and will sell it.

I have had many, many years of professional training on how to sell property. Most real estate agents do not have this experience to draw from. (Did you know that real estate agent training never includes how to sell property, only how to sell themself? But that is another post.)

Whether the buyer has an agent or not, whether the agent is with them or not, I want the opportunity to talk to buyers.

• I learn about them, they about me.
• I know their hot buttons and can demonstrate to them how the home will meet those needs and wants.
• I can learn their objections and overcome them.
• I can show them why YOUR home is the best home compared to the others they are considering.
• Later, if/when they put in an offer, that meeting with the buyers may offer my clients an upper hand in negotiating. But even if not, I can help explain the buyers concerns better to the seller if there is a sticking point, and since I understand both parties' needs from the transaction, I can provide creative solutions. If I am forced to work through another agent, I never know how things are being communicated, and it is a disadvantage to my clients and me.
• Because we met personally, the buyers will have a personal connection to be, and usually to the sellers (through me) and negotiations are more friendly and focused, with less games being played.  This saves me huge amounts in hair dye I don't have to buy!

Successful Open Houses - Part 2: Timing

When is it best to have an open house?  When you have the highest level of interest, and when you are most likely to be visited.  For example, open houses should be planned:
  • The first weekend the home is available to be seen.
  • The first weekend after the home has had a status or price change.
  • Not a holiday weekend.
  • In nice weather (although this is sort of luck of the draw, but if the weather is very nasty, I won’t hesitate to cancel an open house unless I have confirmed visitors that day).
  • After a week (or several days) of promotion.
  • When the home is completely show ready.
  • Usually on a Sunday, although Saturday open houses can be very popular; and I have even had weeknight/weekday opens that have drawn traffic. In fact, for this reason I even advertise my “brokers opens” in much the same way I advertise my public open houses – with signs, internet ads, etc.
  • On Sundays, most open houses are held in the afternoon (usually 1-4).  This is when buyers will be out looking for open houses, so it usually pays to be open at the same time.  On Saturdays, I have found that earlier times work better... usually beginning at 10 or 11, and lasting about 3 hours.  There are suggested variables based on market studies and experience in various submarkets, and of course, there are simply limitations that we sometimes can't avoid.
Read the entire series on open houses by clicking here.

Successful Open Houses - Part 1: Location

Location, location, location! 

Let’s face it, some homes are so far off the beaten path that the only way you’re going to get to them is very purposefully. No one is going to drive by or find it convenient to stop in to see a home on their way from church. If your home is one of these, don’t be surprised if your agent doesn’t suggest an open house. If it’s not likely to get someone in the door, multiple someones, then it is not a good use of promotion expenses and time.  They are better off to advertise and promote for private showing appointments.

A home located no more than a couple turns off of a well traveled road is ideal for an open house.

Read the entire series on Open Houses by clicking here.

Open House Marketing-Beyond the Basics

My marketing plan includes many proven methods which are in use by most professional real estate agents. The difference with me is how I choose to take everything to the next level.

Today I am going to use open house promotion as an example. Here are seven levels of marketing an open house. As you begin to read the list you’ll see that most agents do some of these things when they hold an open house. Then you’ll see that very few agents do them all.

Level 1: Put a sign in the yard.

Level 2: Add balloons (where allowed) and/or riders. Riders should be in place in advance when possible.

Level 3: Put directional signs up from main roads. These should be in place in advance when possible.

Level 4: Advertise online (multiple web sites, blogs, social media).

Level 5: Send email invites to potential buyers/agents.

Level 6: Invite neighbors (mail/flyers/phone calls) a week before. (Sometimes have a separate open house or special previewing time.)

Level 7: All of the above plus coordinate to have other nearby homes open the same day to pull in extra traffic from the collective marketing efforts.

Do you need an agent that can take things to the next level? Talk to me, work with me, and you’ll see the difference.

Selling Your Home?

Vicky Chrisner
703-669-3142


www.Facebook.com/REWhisperer


Also read:
Is Your Home Ready For The Market?
Real estate home sales in Loudoun County.  Real estate home sales in Fairfax County.  Leesburg, Sterling, Ashburn, Brambleton, Broadlands, Hamilton, Dulles, Potomac Falls, Purcellville, Lansdowne, Mount Gilead, Vienna, Fairfax, Herndon, Reston, Great Falls, McLean, Falls Church, Centreville,

Open Houses April 3rd (Ffx & Loudoun)

Check out the list of open houses today...


Fairfax County:

And here is where I will be if you'd like to stop in and say hi!http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=41211487321



This week's open houses brought to you by
703.669.3142

Saturday, April 2, 2011

Seasonal Sales Trends for Fairfax County

The charts below clearly show seasonal home sales trends in Fairfax County. 

In our area, it is widely thought that spring and summer have the highest months of sales.. but have you ever seen statistical data to back that up?  You asked, and now you receive. 

The chart below (green) shows the number of sales by month in Fairfax County:


June is pretty consistently one of the months with the highest number of sales, and usually May and July are also pretty strong.  But, sellers sometimes fail to recognize that means they must have been on the market for 30-45 days before then... THAT is when the contracts come in.  Our chart below shows the trends for new contracts by month over the last 5 years:



According to this chart, the highest number of new contracts in Fairfax County are recorded in the spring.

2006: March-April-May
2007: January-March-May
2008: April-May-June
2009: April-May
2010: March-April
2011:.... yet to be seen,
but could you be missing the market already?


If you own a home in Fairfax County and are considering selling, I can help... and now is a great time. 

Vicky Chrisner
703.669.3142


Also see:

Order a Market Snapshot at:
This is a home sales report for your neighborhood.  It takes 5-15 minutes for the report to be produced and emailed to you.  The best part?  No spam. Ever.




 
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