Northern Virginia Basics

Short Sales Are SCARY… Or not?

July 16th, 2010 Categories: Northern Virginia Basics

If you were one of the millions and MILLIONS of people who purchased their

homes in 2005, 2006 and maybe even 2007 (at least here in the DC metro area) chances are you now owe more than your home is worth. We call that upside down… Congratulations… ok, not really… doesn’t feel too good, does it?

I certainly don’t mean to sound smug or insincere or uncaring – believe me, I have seen the pain it causes and most people who are in this situation now were simply a victim of timing. Looking back, of course we all should have seen it coming, but if you needed a home, a roof over your head and purchased a home during those years, it is what it is.

If you have questions about short sales or if you think you might find yourself in a tight spot – don’t wait – please, don’t start depleting your savings and your retirement! First step: read the four part series I wrote on short sales and let’s set up a time to talk. Additionally, the organization which which I’m affiliated has regular free, un-scripted, confidential webinars to answer questions as to how to minimize risk, minimize the devastation and how to move forward. I will be happy to share the registration for these confidential events with you – just email me for the link.

If you know a short sale is in your future, give me a call or an email – let’s start talking today and strategize the best solution for you.

Jennifer

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Do you have Good Open House Behavior?

April 7th, 2010 Categories: Arlington Dirt, Northern Virginia Basics

Yes, there is such a thing as good behavior at an open house! Here are some Dos and Don’ts for your Sunday outings:

Engage with the agent who’s hosting the open house! They don’t bite! (at least I don’t) So it’s ok to engage in a conversation – even if it’s about basketball or freaky summer weather in April – but talk to them! But BEWARE: If you are working with a real estate agent already, just let them know so they can adjust their conversation accordingly.

DON’T

While engaging is good, be respectful of the agent’s time who is hosting the open house and don’t monopolize their time. If nobody else is there, please, feel free to stay and chat all you want. But if the open house is flooded with people, please know that the agent will want to politely greet all of the open house guests and be sure they are available to answer questions – so just be aware.

Keep an eye on your entire family – if it’s just you or a party of adults – go in and have fun. If you have small children with you – please keep them with you and keep your eye on them.

DON’T

Eat or bring food into someone’s home unless it’s provided there as a refreshment.

DO treat the home you’re viewing as your own – wipe your feet before going in and if your shoes are wet or dirty, please remove them – even if they are not asking you to!

DON’T

Please refrain from making disparaging remarks about the home you are viewing, at least while you are in the home.

Sign in! If you’re working with an agent, please make that notation – even write their name down. If you’re not, but you do NOT want to be contacted, just indicate so – but please sign in. It helps us to indicate to the seller how many people attended. It helps us as agents to know what advertising works and what doesn’t – if you saw the advertisement online, say so. If you just followed the directional signs, that’s ok too – but it helps us to know how to get the best draw.

So, I hope this has given you a few things to think about as you prepare to be good open house lookers this coming weekend, after all, the National Association of Realtors has identified this weekend as National Open House Weekend. If you’d like a customized list of homes held open this weekend, feel free to give me a buzz!

As for me, I’ll be at 3830 N 9th Street at a great 2br/2ba unit in Lexington Square! I’ll also be having another listing located at 3709 N Wakefield Street in Arlington held open as well!

Happy Wednesday

Jennifer

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How’s the Market?

March 5th, 2010 Categories: Arlington Dirt, Northern Virginia Basics

In the words of real estate coach, Tom Ferry, it depends!

Yes, you might think this is a wishy-washy answer; you might even think that person is dodging the question… OR you might even think they don’t know, so they’re covering… how's the market? it depends Actually, “it depends” is the most accurate answer any savvy real estate agent can give you. Why?

Well let’s look at some scenarios:

SCENARIO 1 (person asking question bought home in 2007 and has seen a 15% decrease in value; has a 100% financing)

Q: How’s the market?

A: It’s GREAT – FABULOUS, couldn’t be better! (agent is apparently having a good year)

Q: Really? So it’s a good time to sell?

A: Sure is! Houses are selling like hotcakes!

Can the seller sell his house? Sure! The market is pretty active; but will he have a positive outcome? Only if he has a pile of money in the bank and is willing to pay it to sell his home.

SCENARIO 2 (person asking question wants to buy but has limited cash resources and blemished credit)

Q: How’s the market?

A: It’s GREAT – FABULOUS, couldn’t be better! (agent is apparently having a good year)

Q: Really? So it’s a good time to buy?

A: Sure is! Rates are low, prices are reasonable – inventory is the biggest problem but if we’re tenacious we can be successful!

Can the buyer buy now? Maybe, maybe not…

I think I’ve made my point – by saying “it depends” it allows the agent to better understand the perspective from which the inquirer is coming. This way, they can assimilate all of the market conditions that are applicable to that person’s situation and they can have a more meaningful and relevant conversation. It’s not that the agent would be trying to sugarcoat or “sell” when answering, but knowing why the person is asking is critical to providing a good answer.

So the next time you ask “How’s the Market?” I hope you’ll find yourself engaged in an intelligent conversation about the market! Just ask me and I”ll be happy to fill you in!

Happy Friday

Jennifer

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5 Reasons Why I LOVE Keller Williams Realty

March 3rd, 2010 Categories: Northern Virginia Basics

I LOVE Keller Williams Realty. I’ve been with a few other brokerages (who shall remain nameless) and on a regular basis I come in contact with and have many friends at other brokerages. Keller Williams Realty McLean Virginia To each his own and there will be no negativity about other brands, brokerages or agents. This is just a personal story about why I am so happy with MY choices.

1) It starts at the TOP… Gary Keller has amazing vision and focus… he is PRESENT in the day to day business of the company and he has built a model that works (Of the top dogs in the Real Estate Industry KW was the ONLY company that grew in agent count in 2009, the ONLY company that was profitable and the ONLY company that increased in sides). I am so proud to be a part of an organization with such an amazing, visionary leader with models and systems in place to be successful in this business.

2) In the last 5 years, Keller Williams has profit shared over $200 MILLION dollars to its agents alone. This is essentially my retirement plan and I’m thankful to have it.

3) Keller Williams is really a training company for people that happen to hold real estate licenses… I know, it sounds backwards, but seriously the idea is that if agents are well educated, well trained, well prepared, they will be more successful, with happier clients and make more money. On a personal note, education and training is near and dear to my heart. In fact, within our office I chair the committee that focuses on education and agent productivity growth… nuf said…

4) Keller Williams is a National Brand, in fact, one of the most recognized brand for real estate franchises in the industry according to the Swanepoel TRENDS Report for 2009. Guess what that means? Referral business from a nationwide source!

5) For all of the reasons stated above, it makes ME a better agent with a great company behind me for my clients. This makes my clients happy, my co-op agents happy, and even THEIR clients happy a lot of the time! I like happy – can you tell?