Nothern Virginia Condo Experts
It should be obvious, but start by choosing a selling agent that cares about you and your condominium. The agent you choose should also understand the benefits and challenges of the condominium lifestyle.
An agent who has never lived in a condo or owned property in a condo might not appreciate the benefits of life without guttering, lawn care or exterior maintenance issues. Your Condo Alexandria agent knows how a condo community functions and just how great it is to own a condominium. A Condo Alexandria agent understands why some units are more than others. A Condo Alexandria agent can help others understand what a great view you have or how nice it is to be close to the parking lot.
Each condo has it's own benefits. We find your unit's benefits and make it obvious so that seller who want your condominium can find it.
5 Sure Signs That Its Time To Sell Your Home
When should I sell my home? This is not always the easiest question to answer. A lot of people don't plan on living in their first, second, or even third home forever, but still knowing when to let go and move on can be tricky. It can feel like ending a long term relationship, it's…
6 Budget Tips For Staging A House To Sell In Arlington
If you are trying to land a great deal for your property in Arlington, then you can't afford to overlook home staging. You'll want to hold a terrific open house- one that leaves the attendees entranced. And the good thing is, you can do that without having to break the bank.
Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308
Are you planning to list your residence? A home that isn’t staged may sell if properly prices. On the other hand, a staged place of residence will sell faster and for more money. What steps can you take now to sell your split foyers-style house in a Split Foyer-style community?
Sellers have a better chance at getting their house sold by using a REALTOR® than opting for the do-it-yourself approach, according to a survey of 1,000 home owners by HomeGain.com, an online real estate resource. Nearly 60 percent of home owners who used a REALTOR® to sell their home were successful compared to 39 percent of FSBOs, the survey found.
In the survey, 83 percent of home owners said they used a REALTOR® to sell their home, whereas 17 percent said they tried to sell it themselves. This corresponds to results from NAR's 2010 Profile of Buyers & Sellers, which found 88 percent of sellers were assisted by a real estate agent. (Additionally, 83 percent of buyers bought their home through an agent.)
“It is especially striking that home owners fare significantly better in selling their homes using a REALTOR® than selling on their own,” says Louis Cammarosano, general manager at HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”
Among the findings in its For Sale by Owner vs. REALTOR® survey:
88 percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.
24 percent of FSBOs eventually contacted a REALTOR® to help sell their home.
Source: “HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling on Their Own,” HomeGain.com (Feb. 24, 2011)
Renovated kitchens are always popular.
How do you craft a compelling marketing message that draws the perfect buyers to your listings? It’s all about the principle of sacrifice, said Laurie Moore-Moore, founder of the Institute for Luxury Home Marketing, based in Dallas.
“Don’t waste your time bringing in people who won’t buy the house,” Moore-Moore told REALTORS® on Friday during a session on how to develop a successful marketing plan for luxury properties at the NATIONAL ASSOCIATION OF REALTORS® Conference in New Orleans. “Sacrifice those people and focus on the ones who will buy.”
For example, if you’re struggling to get offers on a beautiful home because it has a miniscule backyard, create a message that targets the small pool of buyers who would see that negative feature as a selling point. The headline to use in your marketing messages: “Backyard Removed for Your Convenience.”
Or, if you can’t seem to find any positives for a condo that’s just like all the others in the building, only it looks out onto a brick wall rather than the city skyline, try a headline like “Willing to Trade View for Value?”
How about proximity to Metro?
“Target the prospects for whom view is not an issue,” Moore-Moore said. “Sometimes the negative is your best hook—it becomes the reason to buy.”
Moore-Moore emphasized the importance of writing an interesting and descriptive headline that’s used in your printed marketing materials, your social networking communications, and possibly even on your For Sale signs. (Tip: Never use the property address as the headline!)
Once you draw the prospects in with a great headline, follow up with a story that defines the home’s lifestyle and calls out the most unique aspects of the home.
“Recognize that marketing is storytelling,” Moore-Moore said. “Ask yourself: What is different about the house that competitive homes can’t say? You have to find that special story.”
—Kelly Quigley, REALTOR® Magazine
Here are five steps to developing a great relationship with a remodeling contractor.
1. Let the contractor know if you are ready to remodel or just kicking the tires. Gary Palmer, a Charlotte, N.C.-based general contractor, says seeking multiple bids is fine, but don’t waste his or her time by letting the bidding process drag on for weeks.
2. Do your homework. Before seeking bids, develop two files. One should include information, including photos, of what you like. The other should include a list of what you don’t like.
3. Listen to the experts. A good contractor can tell you whether the project is feasible and what the pay off will be.
4. Communicate your budget. Let the contractor know up front how much money you intend to spend.
5. Be realistic and patient. Every remodeling project is messy and all of them are going to be frustrating somewhere along the way.
Source: Charlotte Observer, Barbara S. Russell (10/23/2010)
U.S. home prices, including distressed sales, increased by 2.9 percent compared to the same month last year, according to CoreLogic in its monthly index.
May was the fourth straight month prices showed a year-over-year increase.
"Home price appreciation stabilized as home buyer tax credit-driven sales peaked in late spring," says Mark Fleming, chief economist for CoreLogic. "But given that the labor market and income growth remain tepid, we expect prices to moderate and possibly decline the rest of the year."
Source: CoreLogic (07/13/2010)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
Market statistics indicate the price of 1 bedroom homes in Alexandria VA is slowly and steadily rising. As one might expect the prices in Old Town are a bit higher than in other parts of Alexandria VA.
More than 16 percent of home owners say their houses increased in value during the past year, the highest percentage in nearly two years, according to a Thomson Reuters/University of Michigan survey.
While 75 percent of home owners viewed current home-buying conditions as good, citing attractive prices and low mortgage rates, about 89 percent thought market conditions for selling a home were poor. While still an overwhelmingly negative number, it was still better than the results of the May 2009 survey when almost 100 percent of home owners panned the climate for sales.
Some 43 percent of home owners said their home decreased in value during the past year. Nevertheless, home owners believe their homes will ultimately rise in value, with the average annual anticipated gain over the next five years at 2.1 percent.
Source: Reuters News, Julie Haviv (05/21/2010)
Reviving A Stale Listing In 22314 In Alexandria In 22314
Do you have a abode similar to 124 Roberts Ln #201 in Alexandria that hasn't sold? Did you know that in Fort Ellsworth:
Reviving A Stale Listing In Alexandria, Virginia In Alexandria
Do you have a property similar to 301 N Beauregard St #114 in the City of Alexandria that isn't getting any action? Did you know that in The Fountains:
view of Pentagon CityThe expert says: “I understand. But no matter what price we set for your property, there is always a chance it may not sell. I would like to set an appointment to review the activity and reconsider the price in two weeks. We will be monitoring the calls from signs, ads, and open houses to determine our best strategy for locating a buyer. Then we will analyze this information and adjust our marketing campaign as needed until it is sold.”
— Rich Levin, Real Estate Trainer and Coach
It's true: we're still in a buyer's market. I don't see prices continuing to decline, but there are only two options if you want to sell your home: wait patiently for a buyer to see the value of your home, or lower the price to entice a buyer to act now. In the past, homes were selling for more than what they are worth. Today, they are probably selling for less than what they are worth. If you have the time to be patient, hold out to get your price. If you want to act now, don't worry too much because if you sell at a low price, you'll be buying at a low price.
Will NesbittWill Nesbitt is the Principal Broker of Condo Alexandria.
Here are a few interesting year end facts about Northern Virginia real estate
November's average sales price is UP 1.3% from 2008 to $428,481
In January 2009, the average sales price was down 22.51% to $376,669
MRIS data indicates that the Total Sold Dollar Volume is up 44.3% over November 2008. Similarly the Total Units Sold is up 43.45% over November 2008. According the Northern Virginia Association of Realtors and MLS data from the MRIS, "The market is shifting and slowly recovering; we're coming back.
The average sales prices for Northern Virginia real estate is up from 2008.
The number of listings sold in Northern Virginia is up to levels not seen since 2006!
A settlement company processes and records transactions such as home sales or mortgages and refinances. One such settlement company is MBH Settlement Group L.C.
Ryan Stuart of MBH tells me, "The settlement company's primary role is to insure the conveyance of clear and marketable title from the Seller to the Purchaser. Further, as a settlement service provider, the settlement company prepares documentation incident to the closing, conducts the settlement, records the deed and necessary loan documentation in the land records, and disburses all funds in accordance with the HUD-1 settlement statement."
Who do you recommend for settlement?
MBH in Alexandria VA is located on Washington St. in a historic structure in Old Town. When clients ask me for a recommendation for a title company I often suggest MBH because I've been pleased with the service at MBH.
Why did you choose MBH in the first place?
Inside MBH
I met Ryan Stuart of MBH because a fellow realtor recommended Ryan at MBH to me. Ryan Stuart is counsel to MBH and handles many closings for them. My colleague said that Ryan had "the best closings in Alexandria".
Not knowing Ryan at the time I really doubted this claim. Her endorsement was so enthusiastic, I almost wondered if she was taking a kick-back from him!
Of course, I knew she was not receiving any such payment from MBH or Ryan. It's important for consumers to understand that enticements and payments for endorsements like these are illegal in the Commonwealth of Virginia.
The colleague that recommended MBH and Ryan is a highly ethical agent who works for a reputable brokerage. I knew I had to give MBH a try.
Why do you tell your client's about MBH?
MBH is in Old Town
My brokerage makes nothing off of settlement, and so long as the transaction is smooth and professional, I personally could care less who does your title work. The client has a right to choose any company for settlement and I encourage clients to take advantage of that right.
However, most clients ask me for a suggestion when it comes time to pick a title company. I tell them the truth. The services provided by the title companies are nearly identical anywhere you go. (More on this later.) There is very little difference in pricing on title work.
What I like about MBH is that there is very little hassle dealing with them. I submit the title order to them and then forget it. But, I would expect no less from any title company. What I love about MBH is how Ryan handles a closing.
Ryan Stuart of MBH
Starting a closing with Ryan Stuart
From the time Ryan settles in to the time the last document is signed, it's obvious that that Ryan is a professional. He knows exactly where the money is going and where it's coming from and it's all spelled out on the documents.
One of the duties of a settlement agent is to explain the transaction in a way that the layman can understand the paperwork. I find that many settlement agents use industry terms that make perfect sense to myself or other real estate professionals, but Ryan goes one step further.
He breaks down the transaction using simple English that anyone can understand and this is his real value add. He doesn't get frustrated with questions, and he doesn't rush the signers. He will work with the client until there is a full understanding by all parties at the table.
settlement agent
I asked Ryan, why do property owners need title insurance.
He told me, "A title insurance policy contains a statement of the condition of ownership of real property. A title policy indemnifies you against loss or damage incurred as a result of title defects on your property. In the event of a lawsuit challenging your ownership interest, the title insurance company provides a legal defense for the policyholder and, if the suit is lost, pays all valid claims or losses insured by the policy."
For example in a recent closing, a property was sold with only the signature of one spouse. Years later, heirs or the missing spouse could come back to make a claim against the title. Title insurance protects against this kind of a claim.
When settlement is over, Jane is relieved.
It's a huge relief when all the ducks finally line up and the property is yours.
About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and maintains Condo Alexandria. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.
Market statistics indicate the price of 1 bedroom homes in Alexandria VA is slowly and steadily rising. As one might expect the prices in Old Town are a bit higher than in other parts of Alexandria VA.
