2010 Trends In Housing of Northern Virginia



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source: mris.com

Northern Virginia Homes For Sale In Today’s Market

Northern Virginia Homes For Sale In Today’s Market

By: Robert Earl The Earl of Real Estate

Just because the credit market is suffering doesn’t mean you have to. You can still buy Northern Virginia luxury homes despite the decline in housing markets. Northern Virginia homes for sale are being sold at affordable prices in various counties.

While searching for an ideal Northern Virginia homes for sale you should look something which is just above your price range. Quoting a reasonable price which is slightly lower than what you had budgeted for the home will benefit you as well as the seller. There is nothing wrong in making an offer which you believe as fair. Later in you may find that your instincts were correct after all.

Typically the seller will appreciate the fast offer you made and chances are, the offer will be accepted at the suggested price. This strategy will benefit you because you will be able to stay with in your budget, and get a better house with more features then you had expected to get. As long as you have a clear picture of the things you want in your head, searching for Northern Virginia homes for sale is very simple.

There are hundreds of real estate agents throughout Northern Virginia that would be glad to help you find Northern Virginia homes for sale. There are many Northern Virginia luxury homes that are also for sale at bargain prices. Loan agents will be glad to help walk you through the purchasing process and get you pre-approved for a mortgage, at which point you can focus on finding the right home for you in Northern Virginia.

Virginia is a beautiful state with endless gifts to offer. Stunning mountain vistas and charming cities make this area truly feel like home. For this reason, more and more people are rushing to buy in Northern Virginia. However, because the market is continually fluctuating, the benefits are with the buyers. Now is the time to buy an affordable and spectacular house that you and your family will cherish.

Values of Northern Virginia houses may be temporarily falling, but will soon rise again. Wouldn’t you like to invest in an amazing house that is guaranteed to make you money down the road? A good way to determine how much your house is worth is to do a search online for housing prices in your area. This way, you will know exactly what price to offer for the home in which you are interested.

source: http://www.articlesnatch.com/Article/Northern-Virginia-Homes-For-Sale-In-Today-s-Market/210959

Buying Foreclosures For Sale – Making an Informed Decision

Buying Foreclosures For Sale – Making an Informed Decision

By Joseph B. Smith

Buying foreclosures for sale is not something that you should do right away, especially if you do not have any knowledge of the real estate foreclosure investing market. This type of investment needs research and planning to make sure that you are buying the right foreclosure property that can give you profit in the future.

A little research on the types of foreclosure properties that are available in the market would come a long way in helping you make an informed buying decision. So take down some notes for a profitable investment and a secure financial future.

Pre-foreclosure Homes for Sale:

Pre-foreclosure homes are distressed properties sold by homeowners who want to avoid the trouble of foreclosures. You get to negotiate directly with the homeowners to allow you to negotiate for a better price. Before you meet with the homeowner, make sure that you have arranged your finances to give you a leverage during bargaining. Distressed homeowners are desperate to dispose of their homes, thus giving you an edge over other offers to buy.

However, when buying foreclosures for sale during pre-foreclosure, make sure that you have done some research on the financial record of the property that you want to buy. Know if there are some unpaid taxes or any other liens. Also, hire a home inspector to give you a professional opinion on the condition of the house. Some major structural problems are discernible only to the expert eyes of home inspector.

Auction Homes for Sale:

Auction laws vary by state so it is important that you do some research on foreclosure auction laws in the state where you plan to buy a property. In some states, winning bidders are required to pay in cash while in others, you only have to pay 10 percent of the amount plus a letter from the bank.

Also, some states allow you to transfer to the house immediately after the auction while others still give a certain time for owners to pay for the foreclosure cost before they will allow you to take over the property. Buying foreclosures for sale is a risk-free task if you do your homework first.

Joseph B. Smith has been educating buyers on the finer points of Buying Foreclosures for Sale at ForeclosureDeals.com for over ten years. Contact Joseph B. Smith through ForeclosureDeals.com if you need help finding information about Buying Foreclosures for Sale.

Article Source: http://EzineArticles.com/?expert=Joseph_B._Smith
Northern Virginia Real Estate

What You Need to Know About Buying a Foreclosure at Auction

What You Need to Know About Buying a Foreclosure at Auction

By Joshua Martindale

If you are looking for a good deal on a house, buying a foreclosure at auction is something you should consider. Whenever a homeowner is no longer able to pay for a home, the mortgage company takes possession of the home. Sometimes, in order to recoup some of the money that was lost, the bank will sell the house at an affordable price at a government auction.

There are many advantages to buying a foreclosed home. For starters, you will save a lot of money. Instead of going through all of the trouble to obtaining a mortgage for a new home, why not buy one at an auction? According to statistics, the average home buyer saves up to 40% when buying a foreclosed house or property.

You can profit from buying foreclosed property as well. If you do not want to live in the home yourself, you can rent it out for income. The rent money you receive each month can help you pay your own mortgage on a newer home. You could also fix the foreclosed home up and sell it for a huge profit!

At least some good is coming out of the depressing economy. With all of the home foreclosures these past few years, it is nice to know that there are still ways to make money. Even if you are unsure about buying a foreclosure at auction, you can still check out some of the homes for sale.

You can obtain a schedule of upcoming auctions by looking through your local newspaper listings or on the internet. Sometimes notifications are listed in newspapers whenever a home is foreclosed. If you find a home you are interested in, notify real estate agents and attorneys in your area. You can learn more about the home.

Before buying any property, however, bring an inspector with you. Inspect the property to ensure that it is in good condition. Sometimes, when people find out that they are about to lose their homes, they will make a mess before they leave or remove all the appliances. Make sure this has not happened to the house you want to buy. Many foreclosed homes are sold “as is” for this very reason.

In addition to inspecting the property, you should also determine the ownership. Make absolutely certain that there are no existing liens on the house. Conduct a title search just in case there are any ownership problems. You don’t want to spend money on a foreclosed home only to find out that there is a lien or judgment on it.

Determine how you are going to finance the property. Is the current loan assumable? Will you have to pay cash? Will you be able to pay with credit? Different jurisdictions have different laws in regards to purchasing foreclosures at auctions. Since the legal proceedings can be confusing, make sure you are able to grasp at least the basics before going forward with your purchase.

Are you interested in Florida real estate? If you want to learn about the Florida market quickly, be sure to visit my St. Augustine real estate blog and my Daytona Beach real estate blog for more information.

Article Source: http://EzineArticles.com/?expert=Joshua_Martindale

Northern Virginia Real Estate

Referrals; a Realtor’s best friend

While most Realtors’ business come from other means, most still cherish referrals.  These types of leads are largely thought of as the least expensive and most promising to pick up in the industry.  In most markets real estate brokers who focus on referrals are usually among the largest producers.  While they don’t aways come in vast quantities the quality of these leads are usually much better.

Here are 5 tips from HomeGain.com to help get more referrals:

1)    Satisfied Customers

You won’t get too many referrals if you don’t provide good service. Clients who are happy with your service are more likely to refer people to you. Keep your name in front of your past customers consistently. They will forget about you if you don’t touch them often enough. Unfortunately, I have found this out the hard way.

2)    Networking

Do you spend time at networking events? This can be a successful way to generate referral business. People do business with people they know and like. It is not uncommon to see several Realtors at networking meetings. Make networking fun and not a chore. If you get some business out of it that is great, if not at least you had a good time.

3)    Vendors

How about getting referrals from an appraiser, interior designer, painter or handyman? These can be great sources for referrals. Buy these people lunch, give them gift cards or provide something else of value. Let them know that you are looking for referrals.

4)    Don’t Be Frightened

Don’t be frightened to ask for referrals. You should not be ashamed to ask for them. Instead of asking, “Do you know anyone else who could use my services?” ask, “Who do you know who could use my services?”

5)    Closing Gifts

This may be the last thing your client remembers about the transaction. A great closing gift could produce a few extra referrals every year. You may want to deliver the closing gift a week or two after the closing. This way you can check on your clients and make sure everything is hunky dory. They will most likely remember this and they will feel that you went that extra mile for them.

Claudia webb RE/MAX Allegiance
Northern Virginia Real Estate

2010 Real Estate Predictions

Here’s what the professionals say:

The 2010 market will be different than any real estate professional has ever seen. New approaches and new skills will be required to succeed.  Generational differences and how to work with them will be a critical skill for survival and success.  Realtor associations will need to change their business model and their services to adapt to the rapidly changing market.  Pam MacConnell, Association executive, West Volusia Association of Realtors, Orange City, Florida.

While almost everyone actively involved in the real estate industry was excited to see the continuation of the tax credits through April 30, 2010, for homes that close by June 30, we expect there to be a lot of buyer caution and concern come May 1, when the benefits expire. No one is sure how much volume came from moving renters off the fence and how much came from just moving volume up following this year’s tax credit. It’s still unclear what effect the extension will have on the market. May and June pending sales are going to be critical months to really understand the health of the housing market.  Patrick Lashinsky, Chief executive officer, ZipRealty, Emeryville, California.

The buzzword for agents in 2010 will continue to be responsiveness. Buyers and sellers who have been on the sidelines are going to be anxious to get into the market as it starts to pick up, and they will expect their agents to be one step ahead of them. Customers will continue to raise the bar on response time. They used to expect agents to respond within 24 hours. Today, with mobile devices, (they expect a response) in just hours.  Leslie Tyler, Vice president of marketing, ZipRealty, Emeryville, California.

Sales in Michigan will remain steady. Inventory levels will continue to drop but at a slower pace. With that the median sales prices will also rise.  Karen S. Kage, Chief executive officer, realcomp II Ltd, Farmington Hills, Michigan.

More mobile applications that involve brokers, consumers and real estate-related services.  Lauren Emery, Chief executive officer, Information and Real Estate Services LLC, Loveland, Colorado.

The market, unlike 2009, will be predictable.  We will have a spring market starting in January: There is pent-up demand; first-time buyers will want to take advantage of the tax incentive and the $6,500 tax credit for move-up/retrenching buyers will also help. I also predict that the industry will lose at least 10 percent of its firms and salespeople. That will be good for the industry.  Liberal newspapers will try to make things seem better (to support the current administration and Democrats’ re-election of congressmen), the economy will stabilize, the health care debate will be behind us, interests rates will flatten, employment will get a little better, Wall Street numbers will continue to look better, home prices will stabilize, consumers will feel better. Real estate unit sales in Connecticut will be up 12 percent and flat in Rhode Island.  Peter Helie, Chairman and chief executive officer, Prudential Connecticut Realty, Rocky Hill, Connecticut.

The first quarter will be up and strong in most areas and price ranges. The market will level off by summer. Unit sales will continue to be greater than volume. With current lower inventory levels we will have difficulty meeting demand in the $150,000 to $300,000 range for many neighborhoods.  There will be greater activity in the $300,000-plus market as more homeowners realize the stimulus is for them. The high-end luxury market has had an increase over the last 60 days. This will continue in spurts throughout 2010. Overall, the market will have swings but will show increases in most areas.  Helen Hanna Casey, President, Howard Hanna Real Estate Services, Pittsburgh, Pennsylvania.

2010 will be very similar to 2009. Unit activity will be up slightly and prices will decline slightly. The net is even.  Stephen W. Baird, President and chief executive officer, Baird & Warner Inc, Chicago, Illinois.

The conditions are set for a surge of sales activity heading into 2010 thanks to historically low interest rates, adjusted home prices, and the extended/expanded Federal Housing Tax Credit. After the expiration of the tax credit in April 2010, we can expect to see a dip in sales, but there are some things the government can do to ease this transition.  J. Lennox Scott, Chairman and chief executive officer, John L. Scott Real Estate, Seattle, Washington

We don’t generally make predictions; we leave that to the economists. But here are two: If we continue to “eat at the trough” of expanding federal programs, our economy will suffer well into the future. And the tired, unwieldy, nondescript, disparate multiple listing service will get rebranded.  Steve Sullivan, Chief executive officer, Metropolitan Indianapolis Board of Realtors, Indianapolis, Indiana.

Activity in the first half of 2010 may be artificially robust due to the tax credits, and the activity in the remainder of the year will help determine how strong the housing recovery is.  Mae Hassman, Chief executive officer, Missoula Organization of Realtors, Missoula, Montana.

For consumers, Realtor ratings in 2010 will become as routine as rating hotels, restaurants and movies is now.  Bob Hale, President and chief executive officer, Houston Association of Realtors, Houston, Texas.

I think on the conservative side the first two quarters may have a slow start but the market will pick up in the third quarter.  Annie Ives, Chief executive officer , Combined Los Angeles/Westside MLS, Los Angeles, California.

My prediction for 2010 is not a bright one. I expect our association membership will drop by 15 percent. I have members who have been in the business more than two years who say they cannot make their dues for next year. We ran a sales report of the agents who are selling, and (the ones receiving referrals) from past clients have remained the top sales agents. They have the experience from past declining markets over the years.  Shirley Skerbelis, Executive vice president, The Inland Gateway Association of Realtors, Corona, California.

The world won’t end. Real estate agents and brokers who have an open mind, are willing to work very hard, put their clients interest first, and — above all — adapt and evolve will find great success and satisfaction in this amazing industry.  Matt Case, Associate broker, Director of support services, Coldwell Banker Schmidt Realtors.

http://www.inman.com/opinion/guest-perspective/2009/12/21/real-estate-wish-list-predictions-2010?page=0%2C0

The Mike Webb Team:   www.NorthernVirginiaHouses.com
Claudia webb RE/MAX Allegiance
Northern Virginia Real Estate

Dropcards

http://www.realtythoughts.com/

As a real estate professional your main focus in business has to be people. Converting those people into clients can be a tedious process which heavily weighs on trust and reputation. In the past the main avenue for getting new leads and networking was handing out business cards whenever possible. With the increase of social networks and the Web 2.0 culture, real estate pros must engage people where they frequent – the web. So I guess you’re wondering what this has to do with business cards? There’s a neat tool I want to share that encompasses both worlds of live interaction and social networking online. It’s called a dropcard, and it allows you to give people you meet your business card via text message or over the web. Not only does it allow you to give your contact and business information, it also enables you to connect with these new contacts via the various social networks you have a presence in.

www.mydropcard.com

By: David

The Mike Webb Team: www.NorthernVirginiaHouses.com

Claudia webb RE/MAX Allegiance
Northern Virginia Real Estate