Neighbor: Pay Thy Bill!

You already knew your neighbors could impact your sale.  How their home looks, how they act when they see someone coming to look at your home… it all matters because it impacts the buyer’s view of the neighborhood and of the home.  But neighbors can impact your ability to sell in other ways, too, like if they don’t pay their bills.

Delinquency: It’s long been a standard on FHA loans for condo purchases. The number of households who are delinquent in their condo association dues can not exceed 15% of the total homes in the association.  Today we’re seeing lenders for other types of loan looking at the delinquency rate of condo associations and, even home owner associations, before they will make a loan.  It’s a sign of the times.  More and more home owners and condo owners associations are being impacted by a growing number of households who are unable to pay the fees.  And, when that delinquency exceeds 15% it can be a big issue… It can mean difficulty finding a buyer for ANY HOME in the association.

I have a transaction I am working on right now… We ratified the contract rather easily.  The listing agent is available, cooperative, even pleasant to deal with.  The home inspection and appraisal went through without a hitch.  The lender is assuring me the buyers qualifications look good. Things are rolling along.  AND THEN… Then came the call from the lender.  The condo questionnaire came back and the delinquency is over 15%… Just barely over, but it’s over, and that means no loan.

In this case, we only need 3 people to pay their bill to reduce the delinquency to below the threshold and the loan can go through – THREE PEOPLE.

Neighbor, PAY THY BILL!

I am not sure how this will work out – I will keep you posted, but it’s a terrible situation to be in, because none of the parties to the transaction are responsible for this issue… and yet, we’re all being held accountable for the late payments of a few.  So, I will keep you posted.  I won’t let this kill the deal for my clients, although I do not know what the resolution will be – yet.

What I do know is that homeowners everywhere should take note.  When you’re interviewing management companies ask about their collection procedures, and hold them accountable.  Their ability to collect association dues can impact your ability to sell your home.

Stay tuned for the resolution – there will be one.  In the meantime, call your association and get a copy of your delinquency report.

And, Psst... If you're only reading this blog, you're not keeping up with the latest greatest updates from the real estate whisperer.  Check out the new blog at "The Real Estate Whisperer" and join me on Facebook at www.Facebook.com/TheRealEstateWhisperer.

How Can I Buy When I Still Need To Sell?

A consumer asked me... "If I have a house I need to sell before I can buy another home, how can I do it? What comes first?" 

It's sort of like the chicken and the egg conundrum.

In a buyers market, a buyer may be able to negotiate with a seller to enter into a contract that is contingent on the buyer selling their own home (this is called a home sale contingency). In these cases, though, it presents a risk to the seller, and their agent will help them to evaluate that risk so they can decide if they should take it. The evaluation will include conducting a market survey on the buyers home, among other things. Buyers will have to demonstrate to the sellers that they have positioned their property to sell in the current market.

In a sellers market, it's unlikely that the seller will agree to this. Instead, they will wait a few more days and take the next, non-contingent, contract that comes in. SO, then what? What's a buyer to do?

Well, in this post, preferred lender Marc Aymard has provided financing related alternatives to this, allowing the buyer to choose their new home first, and then sell their existing home, without having to make the contract for their next home contingent on the sale of their current home. Not all buyers are comfortable with this... some won't qualify, others just can't handle the stress.

So the next option is for one to put their home on the market, and secure a contract that contains a seller contingency called a "Home Of Choice" contingency. This is becoming more common. This contingency allows that seller to then go and find the home of their choice... and make an offer that is contingent only on the settlement of their home (which is much less risky than a full home sale contingency).

I guess the bottom line is there is not one answer that is always right... it depends on market conditions and the parties involved. An experienced and skilled real estate agent can help you evaluate risk, provide resources and alternatives and determine the best course of action for your family.

If you happen to be in this exact predicament, wondering how exactly you make all these puzzles pieces work together, well, you're in luck. I know how, and I can help you get the plan put together. Contact me today and let's set up our initial consultation...

Vicky Chrisner,Dulles Area REALTOR  

703.669.3142 

MyAgentVicky(at)gmail.com

Market Stats - May 2012 - Looking Good

I sell homes and land in the Northern Virginia/Dulles region and throughout Loudoun County.... and today I am looking for people who wish to list their homes - like yesterday - and get them sold today. 

Here's why:The May market stats were just released from MRIS our local MLS system. 

In Northern Virginia, compared to last year, Sales Volume is up 10%, and inventory is DOWN 20%... That means I have 10% more people buying than last year, but I have 20% less homes to show them.  Simply put, more demand, less supply. And yes, that is putting upward pressure on pricing in our area. Prices in the region are up almost 7% compared to last year.

Interested in learning more?  I have charts, stats and tons of info... just go to my web site, and check it out.

If you are thinking of selling, this might be a great time.  I am waiting for your call or email.  Let's get together!

Vicky Chrisner
Selling Homes and Land in the Dulles area
703.669.3142
MyAgentVicky@Gmail.com

Can I Have More Than One Agent?

A Consumer Asked: Can I have more than one agent?

Hmm... The short answer: Maybe, but not if you're *my* client.

But let's back up a bit.  When you begin working with an agent, there's an important discussion that should be had - right up front.  It's about the difference between being a client and a customer.  (Yes, there is a legal difference.)

If it's determined that you will hire that agent to be your agent, then you will likely be asked to hire them exclusively.  This means you will be asked to pledge your loyalty (in writing via a contract called a listing agreement or buyer/tenant agency agreement) to work with that agent, and only that agent, to help you with your real estate need (be it buying, selling or renting).

I admit I always laugh a little when we talk about loyalty in a brokerage agreement... it feels a little like asking a guy to go steady; except it's one sided:  "I don't want you to see other girls.  But, I will be seeing other guys."

Doesn't sound fair, but let me finish:

You see, REALTORs do not get paid by the hour, for their effort, for their gas, or the many tools that are required to do the job sufficiently.  Together, these things cost thousands of dollars every year.  We only get paid if we are successful in helping someone buy, sell, or rent a property.  As a result, it seems unfair for you to work with more than one REALTOR, since - unless you're planning to rent, buy, or sell more than one place - only one REALTOR can get paid for the job.

On the other hand, when you ask us to help you buy, sell, or rent a property, you're not guaranteeing us payment... You're just representing that you are ready, willing and able.  So, we can't only spend time with you... If we want to pay our own mortgages next month, we will have to have more than one client.

It is for that reason, that the REALTOR community has established rules that prohibit us from "stealing" another agent's client.  If you have a written agreement with another agent/brokerage, there are legal and ethical issues that prohibit me from being able to work with you while that agreement is in place.

It is also for that reason that I only work with people who are working exclusively with me and no other agent. I'll post more about agency later.  But since I got this question twice today, I thought it was an important post.  I hope the next time an agent attempts to explain exclusivity to you, it makes a bit more sense.

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In the mean time...Got real estate questions?  I got real estate answers.  Email me, sent me a tweet, post on my wall, text or call me.

Remember, with me, you've got a friend in the business.

Vicky Chrisner, REALTOR

MyAgentVicky@Gmail.com

Twitter: REWhisperer

Facebook: The Real Estate Whisperer

Text: 703.728.5766

Old Fashioned Phone: 703.669.3142

Breaking News: RESPA, NAR, Quicken and Brokerage Admin Fees

RESPA, RESPA, RESPA...What is it anyway? The web site www.HUD.gov explains: " The Real Estate Settlement Procedures Act (RESPA) insures that consumers throughout the nation are provided with more helpful information about the cost of the mortgage settlement and protected from unnecessarily high settlement charges caused by certain abusive practices. "

Among other things, this law has a prohibition against "unearned fees" being charged by settlement service providers to the consumer. Settlement service providers are real estate brokers, lenders, closing companies, surveyors, pest control companies, home warranty companies and almost any party whose charges show up on the HUD-1 Settlement Statement.

This portion of the law has been tested in lower courts and was seemingly interpreted to mean that real estate brokers could not charge "admin fees" or transactional costs above the commission they were charging. The courts, as I understand it, were saying that the brokerage had the duty to file the paperwork and coordinate the transaction. Therefore, brokerages could not charge an additional fee over and above the commission, to clients and customers for these tasks. As a result, many local brokerages began to rename these fees and continue to charge them, but label them as "flat fee" commissions, because that is what the court said they were. So, brokerages would charge X percent plus a flat fee of Y as commission for their services.

WELL, now NAR (the National Association of REALTORS) says that the ruling by the Supreme Court last week changes things. In this particular suit, Quicken (a mortgage broker) was being sued by customers who claimed that the loan discount fee (aka loan processing fee) violated this same clause of the law as it was an "unearned fee". Quicken defended itself by saying that the law only applied to fees that are shared with another servicer. The case made it to the Supreme Court and....(drumroll please) the Supreme Court sided with Quicken.

What does this mean for real estate brokers and their "Admin" fees? Will they be re-emerging in the marketplace? Who knows. But I know this... my office does not charge admin or transaction fees in addition to our commission. In fact, Mr and Mrs consumer... when I recently moved from one office to another I ended up at such a small boutique brokerage because all the 'nationals' that I considered do charge these fees (regardless of what they are called). I stood firm against it and simply would not go to an office where I would be forced to charge these fees to my clients. I mean, really... How could I tell you "You Have A Friend In the Business"... and then nickel and dime you to death every time we did business together?  I couldn't.

Whether you're ready to buy or sell a home, or just need some honest real estate advice, I am here for you:

Vicky Chrisner, "The Real Estate Whisperer"

Selling Homes and Land in Loudoun County and the Dulles Area

703.669.3142

MyAgentVicky@GMail.com

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Learn more about this case:

Speaking of Real Estate "Supreme Court Provides Clarity on Brokerages' Administrative Fees"

 

Refinancing Your FHA Loan Now

Yesterday I received another "Mortgage Minute" video from one of my favorite lenders, Pat Cunningham at Home Savings Trust. These videos are sent to his sphere of real estate agents so we can provide updates and information to our clients. In this video (as always) he gives some good information. But the most exciting news in this update won't even impact my real estate business. It could, however, impact your life.

Did you buy a home prior to May 2009 with an FHA loan? If so, this new deal effects YOU. Pat said they have a new option to refinance those loans - which are likely about a 5% interest rate - into today's loan prices (approximately 3.75%), and you will NOT have to pay the new mortgage insurance rates, there will be no appraisal, and no closing costs. For many of you, this could save a couple hundred dollars a month.

Watch the video yourself (note: He talks about this last, so you can skip to a little more than half way through the video if this is all you wish to hear.)

Want more information? Talk to Pat: Patrick Cunningham Main Number: (703) 766-4636 Fax Number: (703) 352-1289 Email: pcunningham@hstmortgage.com

 

I will be forwarding this post to several of my past clients... I hope you pass this on to anyone else you know. I want you to remember that I am always looking out for you, and will be sharing news that I think you can use whether you're in the market to buy or sell, or not. So, stay tuned to my business facebook page at www.Facebook.com/TheRealEstateWhisperer.

Also, if you're a client you may notice my web site has a new format... and I am loving it. It is a work in progress, I am still customizing things, so please explore and give me your feedback. What do you love? What do you think should be added? I want it to me the type of interesting web site that keeps you coming back to use resources regularly...and something you will likely be sharing with others.

As always, please know I rely on you, my friends and clients, to help feed my business. If you know of anyone who is looking to buy or sell a home in the Loudoun or Dulles area, be sure to connect me!

Vicky Chrisner, REALTOR

MyAgentVicky@Gmail.com

703.669.3142

So You Want To Be A Real Estate Agent?

I hear this from friends quite often... "I want to get my real estate license. I think I'd make a good real estate agent. I like looking at houses."

While the meat of the business is far more than looking at houses, the truth is that most agents fail because they can't find the people who want to look at the houses - or at least not the ones who wish to purchase them and are ready, willing and able.

See this post on Trulia, where someone posted, "I recently got my license, activated it and got my MLX lots of money invested.. I signed on with a brokerage that supposedly has one of the best training's out there but all they have told me is to send out cards and call my family..seriously...is there any brokerage firm that will actually say "hey agent here is a property go sell it or here is a buyer find them a house? or do i practically walk around in the dark questioning why i ever decided to make this my career and feel completely alone?"

Sadly, this agent will not likely make it. You see, the brokerage hired you to find business... not the other way around. And the brokerage was right when they told her to talk to the people she already knows - Are they willing to hire you? Refer you?

In this market, I know I would not hire someone who is new. Buying or selling a home a HUGE investment decision and very complicated and when you hire a real estate agent, you're relying on their expertise. Expertise you get from doing business. In some cases a new agent may not know as much as their consumer. It takes years and years of experience.

Luckily, when I entered the market as a new agent, I was not new to the business - I'd been working in real estate for decades, and so the transition was easier for me.... but it still took adjusting. I wasn't used to having to ask for business or referrals either. My advantage was once I had the "lead" I had the experience to justify them hiring me. But what if you were a home maker or negotiated labor contracts for a living? Not only are you not used to having to "find" your next client, but once you have them you're not really sure what to do.

Sure, some people get lucky - and I am often surprised by some of the people that make it in this business. It can defy logic. Maybe that will be you. But if you're that lucky, maybe you should just play the lottery.

Bottom line, here is my advice to anyone who wishes to get into this business... You are starting a new business, you are self employed, you are not getting a job. It is not the same. And, the projection on what you should make the first year... Here's how you figure it out:

How many people do you know RIGHT NOW who will buy or sell a home in the next 12 months? Of those, how many people will hire you to help them? Multiple that number by 75%, and those are the clients you'll have this year. Guesstimate your income per transaction based on sales price and the normal commission charged in your area, and then take out the costs for your broker, taxes, and expenses. (Generally an agent gets to keep 30% of their gross earnings.) That is what your projected income will be in the next 12 months. Are you excited? Probably not so much, but it's the truth that no one else wishes to tell you.

Yes, marketing helps, but the cold calling, bulk mail, door knocking, etc. can only do so much. It's a drop in the bucket, because everyone who talks to you will not hire you. Some will. Many won't. Once they do, if you do a great job, then they will refer you and use you again. That's why it's worth it. It's never about today's sale. It's always about tomorrow's.

Having shared all of this info, I have a message for my friends, family, and clients: I hope now YOU realize why I need your referrals, why I need your business, why I work hard to try to be the smartest, best, most loyal, most helpful, most competent real estate agent you know. If I have managed to establish that impression in your mind, take a moment to think about who you know that needs my help, and then connect me. I will be forever grateful. Without the support of my friends, family, and past clients, I would have no business. Thank you, thank you, for your continued support.

***

Vicky Chrisner, REALTOR

703.669.3142

MyAgentVicky@Gmail.com

www.VickyChrisner.com

"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.

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

Selling Homes and Land in Loudoun and Fairfax

703.669.3142

http://www.vickychrisner.com/

www.Facebook.com/TheRealEstateWhisperer

 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

It's Taste Test Tuesday!

It's Taste Test Tuesday!

OK, I will admit that I am stealing the "game" from Zillow.com, but I liked it.  Every Tuesday I will post pictures of 2 or more homes and ask for your favorite.  I might shake it up a bit just for variety, but in this case, I have posted 2 pictures of Single Family Homes, both in Loudoun County, both currently for sale, and both priced the same.  So, which do you like? 

Like "The Real Estate Whisperer" on Facebook and let us know!! Tomorrow, I will post details on the facebook page, and you'll learn the price location and other such fun facts about both homes.

If you are looking for a home like these or any other, I'd love to help!

Vicky Chrisner

Serving Loudoun & the Dulles Area

703-669-3142

Types of Sales in 2011

We're well into 2011 and the market is very different than a few years ago. 

In 2008, almost the only properties selling were REOs.  

By 2009/2010, the banks had seen the value in working with short sales and had enough trained staff that they were able to start processing the requests in enough time to avoid foreclosure and actually get to the closing table. 

In order for production builders to stay in business, they had to keep building, but they had to adjust their price and product.  This meant they needed to renegotiate deals with investors, the localities and their lenders.  In 2009 we started to see these entities also face the reality of the market, and by 2010 new homes sales were once again returning to the market in force.

Traditional sellers also realized they had to face reality.  Market recovery was going to take many years, and recognizing that 2005/2006 values are never likely to return (when you consider inflation).  In 2010, traditional resales noticeably re-entered in the market, but hoping to get every dollar they could, these sellers did all they could to make buying their home an advantage - the homes were well prepared for the market, well priced and owners were flexible on terms.

I was pleased that in 2010, my business, and probably that of most local agents was about 15% REOs, 25% Short Sales,  25% New Construction, 35% Resales... nearly balanced between "normal" sales (New Construction and Resales) and "distress" sales (REOs and Short Sales).  The market in 2011 continues to show signs of recovery.  Inventory is currently very tight.  Here are the stats for the last 90 days for Leesburg VA.  Check them out:

368 Homes on the market right now

269 Homes under contract right now

195 Homes sold in the last 90 days

This paints the picture that we have less than a 6 month inventory of homes available, which is great.  What also is encouraging is the "Types" of sales that are in the marketplace right now.

REOs represent 4% of the Homes Available and 17% of the Sales in the last 90 days

Short Sales represent 12% of the Homes Available and 18% of the Sales in the last 90 days

It's a good sign that distress sales are continuing to decrease in the market.  In some neighborhoods, particularly those built during the height of the market, distress sales continue to dominate.  However, in other neighborhoods, stability is returning. 

Wondering how you're neighborhood is faring?  Get a free automated report at:

www.SalesInMyNeighborhood.Info



Notes about Neighborhood Sales Reports: 

• You must include your address and info about your property so the program can pull appropriate comps.
• You must include a valid email address - the report takes a few minutes and is emailed to you.
• You will NOT receive any spam... no bulk emails at all.  Promise.
• It's automated, so it's not perfect.... if it doesn't make sense, please contact me directly for more information.
• This program works only in the Northern Virginia area.

For a personalized report by a human with a brain, don't hesitate to reach out to me.  I am here to help you evaluate your circumstances and make good decisions for you and your family.

Vicky Chrisner

Real Estate Sales Loudoun/Dulles

703.669.3142

or by email MyAgentVicky@Gmail.com

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Yes, I handle REOs, Short Sales, Traditional Sales and New Construction.
If you are considering buying or selling a "short sale" please see this important disclosure (Click Here).

Is Your Home Ready For The Market?

I have completed a series of blog posts to help you, Mr and Mrs Seller, get your home ready for the market.  Check out the posts referenced below.  Or, better yet, give me a call and let's meet. 

Part of the service I offer when I list your home is a personal consultation on all of these things!  As you read these posts, I hope you'll see how much analytical study has gone into these words of wisdom.

Creating The Best Curb Appeal

Do We Need To Repaint?

Painting For the Market - Color & finish choices

Show Me The Space, I'll Show You The Money! Creating visual space

Knick Knack You're Getting Whacked! - Removing the small obstacles

Vignettes that Sell - Highlighting features, selling benefits

Create the "Not So Lived In" Look - Selling the magic house

PRIORITIES, PRIORITIES - Which staging suggestions are most important?

It's Show Time!  (Final touches before a showing)
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If you're really interested in how buyers react to different homes,

CLICK HERE and check ut a photo album on the facebook page.  These are pictures from the MLS of homes on the market in Loudoun County, priced between $500-600K.  Fans made comments providing their reaction. 

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Selling Your Home? 

Hire a real estate sales consultant who understands

 the marketing and selling process! 

Vicky Chrisner

VChrisner@KW.com

703-669-3142

www.Facebook.com/REWhisperer

Vicky Chrisner is a real estate sales consultant with Keller Williams Realty in Leesburg, VA 

Show Me The Space, I'll Show You The Money!

When we live in our homes, we surround ourselves with things that make us happy - pictures of loved ones, favorite places, gifts.  We put things where they make sense and are readily available for everyday use.  We make our homes comfortable and convenient.  But when it's time to put your home on the market, you have to make a decision.  Do you want top dollar for your home?  Then you must be willing to give up some comfort and convenience in exchange so that your home shows its best at all times.  Here are some tips to make that happen.

Step #1: Show Me The Space, I'll Show You The Money!

Much like a model will have portfolio shots in a bathing suit, we need to strip your home down to the bare essentials. (Play striptease music now.)

"Let There Be Light"

You have blinds and drapes up to keep people from looking in... but when your home is on the market is exactly when you want people to not only look in but come in.  So, we need to thin out window treatments.  Remove screens, wash windows, remove heavy drapes. Open blinds or remove them. Consider leaving sheers or valances, just to add a splash of color or accent, but make sure you can see out and the light can get in.  This creates a bright happy space and it always makes rooms look larger.

Next, let's talk floors.

Usually an area rug's purpose is to protect the floor underneath.  When it's time to put your home on the market its time to show off those floors that you have so valiantly protected over the years.  So in most cases runners and area rugs should be pulled to expose the floors beneath.  Rugs take up visual space.... so the only time I use them in staging is when the room is otherwise cavernous or has no color. 

Important Never-Never Notes: (1) Never leave carpet in a bathroom. (2) Never leave an area rug on a carpeted area.   These always get negative comments from buyers.

Musical Chairs! 

Walk through the home as if you are a buyer.  Enter through the front door, and bring your entire family and a REALTOR with you...everyone walking side by side. This is how a buyer looks at your home. See how crowded everything is when 4 people try to walk through a home together? 

In an unstaged home, sometimes showing is remineiscent of a game of musical chairs where, as you walk through the home, it seems you are always standing directly in front of a chair you can sit in when the music stops. Not good. 

Move or remove all the furniture you touch. If it's crowding doorways, it's got to go. If you can't walk through walkways, say "bye bye" to the pieces that get in the way. Got furniture blocking windows or doors? Not good. Most rooms can, as a general rule, lose at least one piece of furniture, sometimes several.

Take the leaves from every table you can. If you have those larger dining room chairs with arms, hide them, quickly, even if you must borrow ugly chairs from your daughters house.

What's In A Room?

Buyers must be able to tell what the intended purpose of a room is by the first piece of furniture they see. Bed=bedroom; couch=living room; dining table=dining room; desk=office.

Avoid having beds in the den or desks in the bedroom. Unless you have dedicated "gym" space, originally intended to be gym space, then the treadmill has to be packed away. A treadmill in an office says "there's no space for a home gym in this house". A bedroom used as an office screams "this house has no office, and now no guest room".

Welcome the buyers to every room. (Huh?)

You won't be home when the buyers come (no, you shouldn't be home), so make sure every room is welcoming your buyers... the furniture should be turned to face them as they enter. The buyers shouldn't walk into a room to see the back of a couch, TV or other furniture... it should always be the front. Even pillows on a couch should be turned to "face" them - not the center of the room, but the doorway, as if they are saying "hi".

"As far as the eye can see" For a seller, there is much wisdom in thinking about this phrase.

Look at specifically what is eye level in your home. Buyers are measuring space with their visual perception, so what is that? Can you remove a hutch, a bookshelf, a canopy, a headboard? Consider putting away tall back chairs and keeping the stools, for example.

Generally, there should be no pictures of any kind in a hallway or stairway; and most walls are meant for only one picture....and only in the rarest occaisions should more than 3 pictures be on one wall. Pictures should be used sparingly and not be family pictures.

Get rid of doilies, table cloths, and the seat cushions on chairs (you know, the kind you tie in place). No lace, no frills. This includes the comfy blanket or hand made afgan from Aunt Betsy that is displayed on the back of the sofa.  Unless that blanket serves a strategic purpose, then it probably needs to be tucked away.

Trust me here, no one is looking at your beaten up old table or the cheap chairs. They are, however, looking to purchase the floors and space behind and beneath these things, so let them see the space. All this extra stuff is simply a distraction and they will think about your stuff, and not about your house.

Stay tuned, because this is only the beginning of this series.

Next up - "Knick Knack: You're Getting Wacked"

RED SUNDAY March 13, 2011~Open Houses in Loudoun County

It's RED SUNDAY! Look for Keller Williams Open House Signs all throughout Loudoun County.

I will be at 10 FIRST ST SW in Leesburg, VA 1-4. Stop in and see me! 

This month, we have open houses in Aldie, Ashburn, Leesburg, Sterling, Hamilton, Round Hill, Stone Ridge, Middleburg and Chantilly.  At this link, you can see details on each of these homes for sale, and then come and check them out!

Thinking of buying a home in Loudoun County?  Give me a call and let me know how I can help, or check out my web site for listings for homes for sale that are always current!

Thinking of selling a home in Loudoun County?  Find out  "What is RED SUNDAY?"   

Interested in having your home participate in RED SUNDAY?  Contact me to find out how!

www.VickyChrisner.com

703-669-3142

VChrisner@KW.com

ChesBay Act in Loudoun

Here in Loudoun, the Board of Supervisors is looking at the option of adopting the Chesapeake Bay Protection Act for the county.  As the county is not mandated to do so by the Environmental Protection Agency, and this completely voluntary, there has been significant debate in the community.  If adopted, it will become the "Chesapeake Bay Preservation ORDINANCE" (not Act) of Loudoun County.  So, it is being referred to as the CBPO and/or the "Ches Bay" issue.

Everyone agrees clean water is important to us all... but the controversy comes when we talk about how to obtain it. Environmentalists plead that we need to do something for our waterways to clean them up, and don't seem to be deterred by the costs involved in implementing the plan, nor are they concerned that it will result in limitations on how property in Loudoun can be used, and they don't have much research showing that the actions will accomplish the desired result.   Property owners, who also want clean water, say that limiting their use of their land, without any compensation, is a "land grab" and are outraged.  There are fears that to just put in a swing set could cost a homeowner an additional $6700 in fees and studies to get approval from the county... if the approval ever comes.

The Towns of Loudoun have largely come out against this adoption, even though it would have little to no impact on things within the towns due to jurisdictional limitations. There's a great letter from the Mayor of Purcellville urging the Board of Supervisors to consider offering incentive plans for voluntary actions rather than to force landowners to live within the confines of this Act.  The Dulles Area Association of REALTORs pleads that the Board of Supervisors wait to see how the new (pending) legislation that is coming from the EPA to the states and then to localities will impact the water ways, suggesting that more effective plans are in the works and that the adoption of the CBPO could negatively impact property values, and cause huge issues for property owners in added costs and aggravation that is simply unnecessary.

On February 28th, property owners showed at a Board of Supervisors meeting to show their discontent that the BOS is still considering this ordinace.  Check out these photos on the REAL ESTATE WHISPERER facebook page (CLICK HERE).

March 16 update:  Activities related to the Ches Bay Pres Ordinance continue.  Check this link periodically to stay abreast of developments:
http://www.loudoun.gov/Default.aspx?tabid=2872&zoom_highlight=chesapeake+bay

Is Your House Making You Sick?: Chinese Drywall

Chinese Drywall... we sort of hear about it from time to time, but what is it? Who has it? 

Should YOU be worried about it?

First of all, what is is?  Simply put, it is drywall made in China. 

The problem is it seems to emmit a gas, which corrodes many metals and can be very damaging to your health.  Click HERE to read one person's story.

If you do have it, what is the "fix"?  Sadly, it means all the drywall must be removed from the home. it's not cheap, and so before you buy a home, check it out.  If you find it, please follow the recommendations of the Virginia Dept of Health.

Where will you find it?  Apparently Virginia has had a number of cases, although I'll admit I don't know of any in the Dulles area - the most well known are in the Hampton Roads area.  But that doesn't mean it's not in our area.  

A home might have Chinese Drywall IF....

*  It was built or remodeled (new drywall hung) between 2003 and 2009.

*  It has a sulphur like smell (smells like rotten eggs).

*  Its wiring shows signs of corrosion.

*  The Drywall is labeled "Made in China" (a CLEAR INDICATOR, but please note that if it doesn't say "Made in China" it may still be).

I thought this video contained some interesting information on finding out you have Chinese Drywall.

If you're thinking of buying a home built between 2003 and 2009, you are probably a wise buyer and already are planning to hire a home inspector.  Make sure the inspector you're hiring understands Chinese Drywall and what to look for. 

If you already own and are seeing some of these signs, you had better check it out....especially if you're family is getting very ill and no one is quite certain why.  Watch the video if you haven't already.  They even show you some simple tests you can do yourself.

It's frightening to think your house could possibly make you sick, but it happens.  With Asbestos, Mold, Chinese Drywall and any number of other potential environmental hazards, when you're buying a home make sure that you do get a home inspector - a good one - who will be able to advise you of potential dangers and the cost to remediate or correct the problem.

 

Annual Coat Drive Was Huge Success

The Keller Williams Realty office in Leesburg, VA does an annual coat drive, collecting gently used coats for those in need in Loudoun County.  The coat drive starts during the holiday season, and this year's drive went through January 15th... ending just a few days ago.

I am so thrilled to annouce  what a great success it was! The coat drive resulted in 312 coats, 17 scarves, 12 gloves, 22 ball caps, 5 pairs of boots, and 12 winter caps delivered to Loudoun County needy families.

Our agents and their friends and families contributed, as did community members who simply heard about the drive through word of mouth or internet sources like the Leesburg Va Facebook Fan Page.  It was a great community effort, and was coordinated by Angela Gammon, who runs a property management business from the Keller Williams Realty Leesburg office.  Many thanks to everyone for their generosity!

At Home In Loudoun

Are you at home in Loudoun? I am, and it's a beautiful place to be! Maybe you'd like to join me, but haven’t made it to Lo Co yet?

I’d love to help you with your relocation – long distance or local – to Loudoun County, my home sweet home.. and hopefully soon to be yours.

Check out some of the open houses we’re having this weekend! Whether you’re looking for a Townhome in Sycamore Hill, or a Single Family Home in River Creek, or something in between, we’ve gotcha covered with 15 open houses this fabulous fall weekend.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=693196XG5TJ&p=DE-126835978-329

If none of these are quite what you had in mind… or if you’ve got other things to do this weekend, please contact me for a private tour!

Vicky Chrisner,

Keller Williams, Leesburg

703-669-3142

2: REOs in 2010, Fact vs. Fiction

REOS ARE ALWAYS A GREAT DEAL-Fact or Fiction?  (Part 2 of a Series)

In 2008, I told you that while they "should" be a great deal, the only properties that were selling were the "great deals" and the result is that foreclosures were the norm.  No one was buying properties for retail price, and so most of the sales in 2008 were REO purchases.  Were they a great deal?    I don't know, if a "great deal" is getting a better price then most people, no, they weren't a great deal.  If getting a great deal meant buying at or near the bottom of the market, then yes, maybe they were a great deal then.

Now, buyers are no longer blood hungry, they are again paying "retail" for homes (although retail today is much less than it was in 2006), as the marketplace has again redefined "value".  Value is not always the lowest price.  As a result, traditional sales and new home sales are again setting the market value in most sub-markets. 

Banks are now avoiding foreclosures if they can, and approving short sales.  So we simply don't see too many REOs in most submarkets.  When we do, they are available at a slightly discounted price compared to similar properties being sold as a traditional resale; but as I will talk about later, their condition is generally better than those we saw in 2008, so again, the value is comparable to a traditional sale.

BANKS DON'T WANT THE PROPERTIES, SO THEY'LL GIVE THEM AWAY-Fact or Fiction?

It's true... banks don't want to own actual real estate.  That is why they have finally figured out that it is in their best interest to approve a short sale before they foreclose on a property.  However, when they do foreclose, they now have a system and staff with a couple of years worth of experience under their belt.  The staff members are equipped with tools and procedures to help them sell the property for the highest possible price.  Again, like I said earlier, there may be a slight discount, but it depends on the submarket. 

Helping to determining Fair Market Value for any property you're considering buying, REO or not, is an important part of the role your buyer's agent will play in your purchase.  Don't be penny wise and pound foolish.  Pay for a good agent if you must.  They will save you far more than they cost you.

Keller Williams Ranks #1 in Customer Satisfaction

Keller Williams Realty takes it again: "Highest in Overall Satisfaction for Home Buyers Among National Full Service Real Estate Firms"... THREE years in a row!

Thanks, JD Power and Associates! 

Thinking of buying a home? If you'd like the right balance of competency, professionalism, integrity and personalized service, Keller Williams has an associate in your area!

Moving to the Dulles area (Northern Virginia...Fairfax/Loudoun counties)? I'd love to help!

Vicky Chrisner

703-669-3142

VChrisner@KW.com

Search for homes for free:

http://www.vickychrisner.com/


Click to see the full press release by Keller Williams Realty