2008 Years End

Here it is, another new year just around the corner. Were you able to accomplish all of the goals you made for yourself? It's a great time to reflect on the year past and plan for the future. Would a few thousand more dollars have helped you out last year? Have you considered a career in real estate? Why not? There will always be people buying and selling real estate, no matter what the "market" does. It is a valuable service we provide to consumers, walking them through the real estate transaction. If you like people, making your own schedule and having the freedom to earn whatever you want, you need to contact me. Call, email or text. Finding out is free! Till next year, have a safe and happy holiday season and prosperous new year.
I gotta run, I still have real estate transactions to close before the year ends! See ... people are still buying and selling real estate.

Bail Out!

Ok, so the government is trying to figure out how to get this economy rolling again ... I can tell you this, I am still servicing people who are buying and selling real estate. Personally, I see opportunity in the properties now selling for far below the long term value they represent, for instance: If I was to go out and buy 10 homes now for under $100,000. then rent out those 10 homes each for $750 per month for 10 years [$750. X 12 mo = $9000. X 10 yrs = $90,000.] I would essentially bring in $90,000 in rent (PER UNIT) all while paying down the mortgage. So if in 10 years I choose to sell that home it will surely be worth more than the $15-20,000 that is left on the original mortgage. Hypothetically: say I can sell that home at the end of 10 years for $125,000... that would be a profit of $105,000. [$125,000 - 20,000 still owed on the mortgage = $105,000] now multiply that buy ten houses and you are looking at a profit of (up to) = $1,050,000.00 One million, fifty thousand dollar profit.(That's not counting the tax deductions, depreciations, etc.) What if that same home is worth even more? Think it can't be done? It can. You can't find any bank that can give you that kind of return on your investment. Call me, I can get you started. I personally own 2 homes, but intend to have more, real soon. If the government isn't going to bail us out, we will have to do it ourselves. Create a real estate portfolio plan. Call text or email, planning is free. Speaking of planning ... plan on getting out to VOTE on Tuesday, November 4th!

Economic Down Time

I know the tv says things are really bad for "Wall Street", but thank goodness not everyone falls for the "hype". I still have sensible people calling in and buying homes. Today more than ever, the safest place for your money may well be in your own home. Buyers are getting mortgages they can afford, lenders are carefully lending money to borrowers who can repay them and homeowners who didn't pay too much for their credit or mortgage or home in the first place, are all doing just fine. Granted, we could all use some relief from the high prices of gas, oil, and goods, but on the whole if you have been making good decisions all along, you'll be ok.
Remember to get out there and VOTE in November, or don't complain about the government!

Summer "Soldstice"

Here it is August and it's back to school time. Throughout the summer I have been assisting families with moving ... out of their present homes and into the new ones all before school gets started. Our local market is still a "buyers market". The sellers have been paying closing costs and offering home warranties and prices seem to be stable. If you have been thinking about buying a home, now may be the perfect time. Since this real estate "bubble burst" the cost of rent has skyrocketed! I know of people paying up to $2500. per month for a rental ... that translates to $30,000. per year invested in "somebody elses mortgage!" Why? Invest in yourself. Here's my example of a worse case scenario: you buy a home, live in it for a few years then try to sell it ... if you don't make any money on the sale of the home, you still lived there (exactly how you wanted) for years and didn't spend any money on rent. Even if you lost money on the sale, how much more would you have lost if you had been renting? [It pays to own.] If you make money on the sale of the house, yeah! Take that profit and put it down on another piece of real estate, only bigger and better! Or bettter yet, keep that home, rent it out for more than your payment and buy another home! Now you have a home which is likely increasing in value and rental property that pays you monthly and is also likely increasing in value! See how that works? I know, enough for now ... I just get so passionate about people owning homes. Log on to my website: www.wendydittrich.familyrealtygmac.com
Look around, ask for info, think about buying. I'm here to help.

Buyer Busy!

So busy with buyers now. It's a good thing. Doing home inspections, negotiating contracts, working out closing details, it's all a blur! Also still assisting lots of sellers, Staging homes for sale, marketing them, advertising, websites, the works!
With mortgage interest rates so low, it's no wonder so many homes are on the market for sale. Even homeowners are taking the opportunity to "move up" into bigger and better homes at prices that are great!
Right now is the perfect time for everyone to think about buying a home! This buyers market can't last forever. Right now sellers have been paying for the buyers closing costs and giving home warranties. Homes are even being pre-inspected before going on the market for sale, to make homes more appealing to buyers. It's like you've almost run out of excuses not to buy! 1 call, text or email can get you started on the way to owning your own home or moving up! Go ahead, contact me.

Bottomed Out?

I am happy to report that I have been so busy in real estate that I haven't even had time to blog! I have sellers that are actually selling and buyers are out shopping for homes again! Today the Feds raised the limits they will lend on Fanie Mae and Freddie Mac loans . . . what that may mean is, more people can afford to buy homes and more people can afford to refinance if they are in trouble. There was even speculation that it may drive the rates lower. We, at Family Realty GMAC, just launched a "Military Advantage Program" where people who qualify can actually earn credit ($$$) back at closing and more! I'm so glad to see more and more people getting out of rentals and into homes of their own. {Say you live in a home for 3 years then move, if you owned that home then you have a home to sell for profit ... if you rented that home, you have nothing but a handful of receipts and by the way, nobody wants to buy them!} Renting is actually paying someone elses mortgage, why do you keep doing that? STOP! I can help.

Busy Monday

Spent today working on "net sheets" for a seller. They want to know how much money they could make on the sale of their home. Talked via email to another RE broker, want to keep in touch because I don't think she is happy where she is and I think she will eventually come to work here at Family Realty. Looked over some new listings for an investor of mine, new stuff coming on the market just about every day. Good prices, great interest rates, wonderful time to be a buyer! Anybody want to be a buyer? Ask me how, questions answered, FREE!

Time Out.

Ok so I 'm at home recovering from some surgery I had yesterday . . . but here I am at my computer tending to my real estate business. I got the news that I will soon have another RE agent go into my referral company: that's when an agent doesn't really have the time to conduct real estate themselves so they put their license into a referral company, like mine, and then just refer in names of customers to me and when those customers "close", I can pay them a referral fee. See in the state of Virginia, you must hold an "active" real estate license in order to be paid on any real estate transaction but by only having a license on referral status you can avoid belonging to all those boards and having to pay for MLS and lockbox keys and REALTOR dues, etc. The only hard part is, you can not conduct real estate at all yourself. But for lots of agents who are, just starting out and want to transition in to real estate or agents who do not want to give up their other full time jobs, or when an agent is ready to retire and wants to keep the income flowing. Sometimes it just makes sense if the outside life is so full but you don't want to give up that RE license you worked so hard for!
Any way, did I cover the "referral" topic for you ? Remember, don't hesitate to ask questions if you have them, I'll do my best to answer or find the answer.

Getting Started

Welcome to my "blog". I hope to use this as a tool for talking to and helping to educate first time home buyers or anyone interested in getting into real estate, whether that's buying it, selling it or maybe even becoming a real estate salesperson. They won't all be this full or boring, just this first one.
I am a broker with 8 years of experience here in the Southside Hampton Roads (VA) area. I myself was a Navy wife for 20+ years, that's what brought me to Hampton Roads. I'm still here because I love it, it's home.
If you have questions about buying your first home or selling for the first time I hope to be a source of information for you. Maybe you are in a "spot" with an ever increasing mortgage and need to know what your options are for saving your self from foreclosure. Perhaps you have heard now is a great time to be a buyer or an investor, with interest rates at historic low levels and a vast selection of homes from which to choose and you were wondering if you could become a homeowner or investor, but don't know where to start.
For any or all of the above reasons, ask me. I am a great place to start. Person to person, no sales pitch, just information. I, personally, hate being pressured, so don't expect any from me.
I'm new at this blogging thing so I guess I will try to make an entry each day. . . kind of a day in the life thing until someone asks a question.
1/15/08 - Took several calls today from Homes magazine ads, wanting addresses, gave them out, encouraged people to drive by then call me back if they want to go inside. Had another real estate agent show my 3 bedroom single family listing in Norfolk today. Watched it snow and then sunshine, repeatedly. I'm originally from New England, so seeing the snow makes me melancholy.