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Sellers Who Delay May Miss Out

Some would-be move-up home sellers are eying home prices carefully. They’re waiting to see how much home prices appreciate more before they consider selling their home. But they may be missing their perfect opportunity, some housing experts say. The best time to move may depend on when the home owner purchased their current residence, says Daren Blomquist, vice president of RealtyTrac. Blomquist says that home owners who purchased their home during the sluggish market the last two to three years may find moving up in 2013 may be their prime opportunity. "Because they bought near the bottom, these home owners should have built up some good equity that can go toward the purchase of a new home, and waiting longer to build more equity likely won’t provide much advantage given that other homes that they might want to move up to will also be appreciating at roughly the same pace," Blomquist told HousingWire. Home owners who wait much longer to sell their home may miss out. "If you're selling one house just to move up to another, it does you no good to wait for prices to rise — the price of the move-up home will increase faster than the price of the place you're leaving behind," says Redfin CEO Glenn Kelman. Plus, mortgage rates are expected to come off the 3.5 percent range and reach 4.4 percent in the next year, according to the Mortgage Bankers Association. That will increase the costs of financing your next home. Source: “The Time to Sell Is a Waiting Game for Some,” HousingWire (March 21, 2013)

  • 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…

    Read More

  • Tips On How To Sell Your Home When You Have Kids

    Nesbitt Realty
    Selling your home can be a stressful event but having kids around can create more stressful moments for parents who are seeking to sell their home.

    Read More

  • 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.

    Read More

  • How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center

    How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center thumbnail
    It's pretty obvious, but staged places sell. What can you do if your residence is already adorable?

    Read More

  • Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308

    Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308 thumbnail
    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?

    Read More

Agents to Sellers: Get Moving!

With inventories at 13-year lows, real estate professionals are getting creative in trying to convince home owners to sell.
Julie Nesbitt
Julie sold another!
“There’s such little inventory that my joke is it’s like the last shrimp at the buffet at a cocktail party and everyone’s jumping on it to try and get to it,” Boston-area real estate pro Ken Snyder told American Public Media. Snyder has been posting stories on his social networks about how he’s getting six or seven offers on properties from the high buyer demand, but then adds “Sellers, hello? Where are you?!” His messaging is working. Owners who had been renting a loft saw his Facebook post and decided to sell after all. To try to get more listings, some real estate professionals are also holding first-time home-seller seminars. And real estate professional Gary Rogers says he’s been writing personal letters to sellers. But real estate professionals say that many owners fear selling because they’re scared that once their home is sold they won’t then have any place to move to due to the low inventories. Source: “Realtors Ask: ‘What can I do to get you OUT of that House?” American Public Media (March 20, 2013)

  • 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…

    Read More

  • Tips On How To Sell Your Home When You Have Kids

    Nesbitt Realty
    Selling your home can be a stressful event but having kids around can create more stressful moments for parents who are seeking to sell their home.

    Read More

  • 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.

    Read More

  • How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center

    How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center thumbnail
    It's pretty obvious, but staged places sell. What can you do if your residence is already adorable?

    Read More

  • Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308

    Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308 thumbnail
    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?

    Read More

Have your condo docs in order

In the Commonwealth of Virginia (and in other states) the buyer must be allowed an opportunity to review the condo docs.  From the time the condo docs are delivered, the buyer has 3 days to cancel the contract without cause, other than to say the condo docs contained information which caused the cancellation. The buyer doesn't have to explain why or what the problem was. Recently a client of mine was buying a condo and when he received the documents, the condo docs said that the unit did not pass architectural review.  The problem was that the clientdocuments had made changes to his unit without first seeking permission of the association and then never had the changes inspected. The change that the seller made?  The seller had installed an overhead microwave and changed a cabinet without seeking any approval from the association. This was indeed a minor change. Furthermore, the seller claimed that he didn't actually make the change. It was his claim that a previous owner made that change and that the seller had NEVER read his condo docs. My client, the buyer, was a very above-board and by-the-book type of character. It was his position that if this guy "hid this fact" who knows how much else he withheld?  Even if he believed the seller's story (he did not) then it would show that this is a very inattentive owner.  My client canceled the contract based on condo docs. At another location and with another buyer and seller, the property went under contract and the seller did not deliver the condo docs, because the seller didn't have condo docs. The seller didn't have the condo docs because the seller didn't order his condo docs. The selling agent explains that the law allows for 14 days for the delivery of condo docs.  I replied, "That's why you order docs when you list."  Because if you allow 14 days for preparation and 2 days for delivery and then 3 days for review, then the buyer can cancel the sale 22 days after the contract is signed. Here are the lessons for sellers:
  1. Order you condo docs when you list your condo for sale.
  2. Review your condo docs to make sure that your condo doesn't have any defects according to the association.
  3. Have your agent deliver your condo docs PROMPTLY once your contract is ratified.

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

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  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

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  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

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  • Good Shepherd Housing and Family Services

    Fairfax County
    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…

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Negotiations

balcony
Balcony
In a tight market, there will be offers. Be ready for all offers, and don't be offended if someone tries to lowball you. You know what your condo is worth. Sometimes a lowball offer is just a buyer's way of asking you if you'll negotiate. Your reply should be, "Sure I'll negotiate, but I'm not stupid." For this reason, decide in advance what price and terms you’ll find acceptable. Then, respond with a counter-offer to keep the ball moving.    

Properties in Alexandria

7984 Audubon #A2, Alexandria 22306
$280,000
View Details
Colchester Towne Condo
3 bd
2 ba
1,067 sqft
On Site: 0 Days
Listing courtesy of KW Metro Center

6029-F Curtier Dr #6029f, Alexandria 22310
$399,000
View Details
Tiers At Manchester Lake
2 bd
2 ba
1,002 sqft
On Site: 0 Days
Listing courtesy of McEnearney Associates, Inc.

6621 Wakefield Dr #701, Alexandria 22307
$162,000
View Details
River Towers
0 bd
1 ba
428 sqft
On Site: 3 Days
Listing courtesy of Compass Real Estate

3234 Wellington Rd, Alexandria 22302
$405,000
View Details
Parkfairfax
2 bd
1 ba
900 sqft
On Site: 2 Days
Listing courtesy of RE/MAX Allegiance

2813 Woodlawn Trl, Alexandria 22306
$939,921
View Details
Hybla Valley Farms
6 bd
5 ba
3,794 sqft
On Site: 50 Days
Listing courtesy of RE/MAX Gateway

4689 Lawton Way #201, Alexandria 22311
$489,900
View Details
Manors At Stonegate
2 bd
2 ba
1,210 sqft
On Site: 7 Days
Listing courtesy of Compass

6502 Kelsey Point Cir, Alexandria 22315
$650,000
View Details
Kingstowne
3 bd
3 ba
1,800 sqft
On Site: 0 Days
Listing courtesy of KW Metro Center

6453 Fourth St, Alexandria 22312
$819,000
View Details
Weyanoke
4 bd
3 ba
2,800 sqft
On Site: 1 Days
Listing courtesy of Washington Fine Properties, LLC

505 N Armistead St #202, Alexandria 22312
$274,900
View Details
Saxony Square
2 bd
1 ba
1,005 sqft
On Site: 1 Days
Listing courtesy of Bay Property Mgmt Group Northern Virginia, LLC.

6204 Paulonia Rd, Alexandria 22310
$614,900
View Details
Virginia Hills
3 bd
2 ba
1,644 sqft
On Site: 1 Days
Listing courtesy of Pearson Smith Realty, LLC

See more in Alexandria

Increase Home Appeal by Adding a Little Green

Eco-friendly homes are hot these days, and one way to make a property more saleable is to add a little green. Real estate Web site HomeGain asked about 1,000 real estate practitioners to recommend low-cost green improvements. Here are some of their suggestions:
  • Plant native trees and plants
  • Replace air filters
  • Weather-strip and caulk doors and windows
  • Install programmable thermostats
  • Install low-flow showerheads
  • Install CFL or LED lights
  • Repaint with low VOC (volatile organic compound) paint
Source: USA Today (10/14/2010)