Tag Archive | real estate news

Northern VA Housing Market Real Estate Update

Here is the latest housing Market Update for 2013 from Re/Max.com

For a specific market report on your city contact me today!

THE NORTHERN VA REAL ESTATE LADY!

Call me to buy a home in any DC Metro area of Northern VA, areas including Fairfax, Prince William, Loudoun, Fauquier, and Stafford Counties.

“I can dream alone, build alone and strive alone, but true

success always requires the help and support of others.

Please send me your referrals.”remax agents northern va

Visit my website today,

The Northern VA Real Estate Lady!

Deandrea “Dee Dee” Jones

Associate Broker

Re/Max

Real Estate

Connections

Manassas, VA Fairfax, VA

http://DJonesRealEstate.com

djoneshomes@gmail.com

download my mobile app http://87778.mobi/DEANDREA

or text DEANDREA to 87778

Follow Me Online

Advertisements

Hampton Roads Real Estate Year End 2011 review

Hampton Roads Southern VA Real Estate Market  2011 Sales Statistics-  Highlights from REIN MLS

Listings- 

Residential active listings decreased, 17.3% year-over-year, to 12,162 (November 2011) from 14,698 (November 2010).

Under Contract (Pending) Residential Sales-

Total residential under contract sales increased by 34.8% as compared to November 2010 (1,510 vs. 1,120).

Sales

Total property sales and total residential sales increased when compared to November 2010 showing increases of 9.4% and 9.3% respectively.

Inventory

There is currently 8.15 months’ inventory of residential homes on the market in the Hampton Roads area, a slight decrease from the previous month and down 20.95% from November last year.

What does all this mean, Things are better since 2010 but we are not out of the woods yet.   As of Nov 2011 there are 14,909 properties for sale in Hampton Roads including both Southside and the Peninsula. The new focus for sellers for 2012 is to make their home marketable focusing on presentation and upgrades. But Price is still the most important indicator- you must price it correct for your subdivision.  Appraisers ARE using foreclosure and short sale comps from the last year of sales and this can further drive prices down.  You have to be smart with upgrades, fixups, and remodeling just to sell because dollar for dollar return will not be the case.  Kitchens and Baths still yield the best returns but focus on what is doable for your budget.  It is possible and sometimes more advantageous to just sale as-is but remember you will need an as-is price

The numbers above are skewed because they do not clarify if he property sold was a foreclosure, resale, or short sale and this can and will make a difference.  The best advice is focus on the comparable market analysis study the competition and read the full listing sheets on sold sales.

For a Free Comparitive Market Analysis on your Hampton Roads Home contact me!!!

 

 

THE HAMPTON ROADS REAL ESTATE LADY!

Call me to buy a home in any Hampton Roads area: Norfolk, Virginia Beach, Chesapeake, Portsmouth, Suffolk, Newport News, Hampton, Williamsburg, and now serving York County and the Peninsula.

“I can dream alone, build alone and strive alone, but true        The Hampton Roads Real Estate Lady!

success always requires the help and support of others.

Please send me your referrals.”

 

Visit my website today,

The Hampton Roads Real Estate Lady!

Deandrea “Dee Dee” Jones

Associate Broker / Recruiting Sales Manager Peninsula

Blu Skyy Realty   Virginia Beach, VA

http://DJonesRealEstate.com

djoneshomes@gmail.com

Hampton Roads Real Estate Maze

Today Real Estate in Hampton Roads is like a maze.  When you enter a maze you may have to keep going back to your starting point and starting over to take a new path to get to the end.  In this current market Sellers may find themselves relisting several times before they have a successful sale and buyers may write several contracts before closing on a home. 

There are a few reasons for this in and out maze like behavior.  Sellers and listing agents have to use every trend and tip in the book to find and attract buyers.  The simple fact that the tax credit expired April 30th and many loan guidelines have been changed caused many buyers to be uncertain of the market and now we have a massive reduction of ready, willing, and able buyers.  While sellers are waiting for a sale we are starting to see properties that have been sitting for months and a few for years.  During this time sellers may also have to entertain more than one offer to find one they can net the correct amount on because offers are coming in very low. Another maze like issue for sellers is trying to keep up with the competition often huge and several price reductions are involved.  Buyers are watching for low interest rates accompanied with a great DEAL.  Buyers who frequent short sales (preforeclosures) and bank owned properties are often getting the run around. 

The maze affect  that buyers encounter could be one of many the most common are:  Short Sales can take weeks and sometimes months for an approval to sell from the time an offer is written.  Many buyers loose patience on the waiting process and go on to another home.  Often bank owned properties appear to be a great deal but usually after inspecting the properties closer often buyers go running away.  This causes buyers to look at multiple properties.  This is simply a trend our Hampton Roads cities are not used to after record sales in 2003 thru 2007. The slow decline in 2008 through 2010 has everyone asking are we at the bottom yet?  Many banks and forecast express different opinions but meanwhile serious buyers and sellers in Hampton Roads will continue to wander thru a real estate maze.

“I can dream alone, build alone and strive alone, but true success always requires the help and support of others. Please send me your referrals.”

Visit my website today, The Hampton Roads Real Estate Lady!   Deandrea “Dee Dee” Jones

http://DJonesRealEstate.com

In Chesapeake Don’t take a fake wife to a Real Estate Closing!

You must take a moment to read. This is one of the best real estate blog posts I have seen in awhile written by Bill Swanson in Omaha Nebraska.  This info passed on by The Hampton Roads Real Estate Lady.  Enjoy!!!

Via Bill Swanson – Omaha Homes For Sale (402) 964-4871 (CBSHome Real Estate):

fake wifeThere are oodles of “don’t do this” and “be sure to do that” lists available on the net for real estate advice but I thought I would rack my brain of 23+ years of real estate experience for a few ‘non-traditional’ pieces of advice. Everything you are about to read is true. SOME names, however, are changed to protect the… the… less than smart.

Don’t take a fake wife to closing. I had sold an investment property to this particular buyer a few years back. When the title department was preparing the closing paperwork, they discovered the buyer was married. They called him and told him he would have to bring his wife to closing to sign all of the closing paperwork. He arrived at closing with his wife, getting ready to sign all the docs. The loan officer, Ted, then asked them for photo ID to verify their identities. She said she forgot her purse at home. Ted said “No problem, run home and get it and we’ll get back together in an hour.” What followed was several minutes of eerie silence until the buyer finally fessed up and said, “Um, this isn’t my wife.”

So away they went and an hour later he did indeed bring his ‘real’ wife to closing, not his girlfriend. But here’s the kicker, It was the wife’s idea not to come. She told him she was too busy and wanted him to take ‘Amy’ instead… True story…

Tell your loan officer the truth (part 1). I had sold a house I affectionately called the patriotic house because every room was red, white, and blue. The buyer had a prestigious job at a large local railroad company and his loan application went fine, or so we thought. This was before loan officers ran full credit checks and did just ‘preliminary qualifications’ with income, debts, and job history.

One of the questions asked as “Mr Jones, do you pay child support?” to which “Mr Jones” answered “No.” Fast forward a week when the full credit report came in and he was over $30,000 behind in back child support payments. The loan officer called him on the phone and was told the following; “Mr Larsen, you asked me if I PAYED child support, not if I was supposed to pay it. I don’t pay it!” You just can’t make this stuff up!

Tell your loan officer the truth (part II). Same question, a couple of years later with a young couple in the loan officer’s office when the following question was posed: “Are you obligated to pay child support?” He nodded yes while she nodded no… Turns out there was a little ‘Mr. buyer’ running around that he failed to disclose to Mrs Buyer… They stepped out into the hall to have a discussion and never came back in… Guess that one should have been titled ‘telling your wife the truth’.. Yikes!

You never know who’s watching… This story took place before the internet when we actually had big thick MLS books that came out biweekly with all of the homes for sale in them. All the info was turned in by the real estate companies but the MLS office took exterior photos of all the homes. One of the agents in the office had taken a client out to lunch whose house he had just listed.

When they got back, the MLS books had just arrived. Don said “Hey Charlie, I think your house should be in this issue.” So they thumbed through the book and lo and behold ‘Charlie’s house’ was in there. Upon further inspection Charlie said “Hey, what’s my boss’s car doing in MY driveway?” Well, you guessed it, turns out Charlie’s wife and boss had a little something going on. Apparently, the boss would make sure “Charlie” was busy on projects in the office for several hours at a time. Busted!

Watch future blogs for more stories about this nutty business. One thing’s for sure, good market or bad, there’s never a dull day in Real Estate!

Bill Swanson is an agent with CBSHome Real Estate, an affiliate of HomeServices and Berkshire Hathaway.

For more information, email Bill at Bill.Swanson@cbshome.com.

 

0 Comments on Don’t take a fake wife to a Real Estate closing!

Notify me of new comments:
 

Leave a response…

Comment:

 
 
 
100_0639256 Rainmaker_large

DeAndrea “Dee Dee” Jones The Hampton Roads Real Estate Lady!

Norfolk, VA

More about me…

Wainwright Real Estate

Address: 4098 Foxwood Dr, Virginia Beach, VA, 23462

Cell Phone: (757) 831-8294

Email Me

 
The Hampton Roads Real Estate Lady!

Meez 3D avatar avatars games Subscribe to my BlogEnter your email address:

Delivered by FeedBurner