southsiderealblog

EZ Way to Make Home Inventory

2012-01-27T11:26:00.000-05:00

Compile a Home Inventory with the Right Tools
A home inventory of your belongings for insurance purposes is a relatively inexpensive way to make any future claims go smoother. Read

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Chinese New Year (of the dragon) 2012

2012-01-23T14:37:00.000-05:00

Happy Chinese (Lunar) New Year! It is officially the year of the "dragon". I've been rooting around the internet and have discovered (thru many sources) that: to the Chinese, dragons are mystical creatures that always come from the sky (heaven). It is the only Chinese zodiac symbol that is mystical and not taken from real life so it is special. New years takes place on January 23rd, 2012 along with the "new moon". The celebration goes on for 15 days, right up until the "full moon". This is the biggest Chinese holiday there is. Families get together and celebrate, pay respects to family members past, enjoy feasting (often on fish. oranges and sweets), dancing (the lion dance) to clear out old bad luck and usher in good, and culminating with a "lantern" festival on the last day. Feng shui says: clean your house before new years, wear new clothes and the color red, keep oranges around, display a dragon in your home and give out small bits of money to children and the underpriviledged in red envelopes. I'm not Chinese but it sounds like a good reason to celebrate to me! Anyone up for some "moo goo gai pan"? Think I'll have some tonight and maybe even get me a small dragon statue. Can't hurt! Happy New Year 2012 (Year of the Dragon).

Distracted Driving

2011-12-23T11:09:00.002-05:00

In a news article posted by NAR on 12/23/11:

NTSB Urges States to Ban Use of Electronics While Driving

On December 13, 2011, the National Transportation Safety Board (NTSB) unanimously approved a recommendation that states outlaw the use of all electronic devices while driving in an effort to address concerns over distracted driving. Under the NTSB recommendation both handheld and handsfree devices used by drivers would be banned unless needed for an emergency. Passengers would still be free to use the devices. It is important to note that this is merely a recommendation to state legislatures to pass distracted driver legislation—members should monitor activity in their states.

What does that mean for you? It probably won't be long until these "recommendations" become laws in
many states. Take heed of this message: electronic devices in drivers hands do indeed cause distracted driving accidents. Make it a personal rule in your vehicle: no electronic distractions while driving. Put the cell phone in the glove box or back seat. Check messages when you get to where you are going, safely.

Real Living Aquires Prudential Real Estate

2011-12-07T09:40:00.001-05:00

In a brief put out by Brookfield:
BROOKFIELD RESIDENTIAL PROPERTY SERVICES ANNOUNCES ACQUISITION OF PRUDENTIAL REAL ESTATE AND RELOCATION SERVICES

Acquisition creates global residential real estate and employee relocation services leader
(Chicago, IL) December 6, 2011 - Today Brookfield Residential Property Services ("Brookfield"), a Brookfield Asset Management Inc. affiliate, announced that it has purchased Prudential Real Estate and Relocation Services ("PRERS"), a recognized leader in employee relocation and real estate franchising from Prudential Financial, Inc. Prudential Relocation Services operates as Pricoa Relocation in Asia and Europe.
The addition of PRERS to Brookfield's existing residential real estate franchising and employee relocation services businesses establishes Brookfield as the world's second largest employee relocation services provider and the third largest residential real estate franchising business.
Under a licensing agreement, Prudential Real Estate brokerage affiliates will be able to continue to use the Prudential brand based on the terms of their franchise agreements.
"This transaction creates a global employee relocation services and real estate franchising leader," explained Graham Badun, CEO, Brookfield Residential Property Services. "We have now increased the breadth and depth of our service offering, keeping pace with the evolving needs of our clients around the world."
A North American & Global Leader
Through its various brands, Brookfield's residential real estate franchisees are now present in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal, with a network of approximately 80,000 real estate agents, 2,800 real estate brokerage locations and more than $150 billion in annual residential real estate transactions.
U.S.-based Brookfield Global Relocation Services moves nearly 85,000 families in and out of over 125 countries around the world each year. With the acquisition, more than one-third of Fortune 100 companies are its clients. In addition, Brookfield is now the largest provider of relocation services to government, with long term relationships with the U.S. and Canadian governments.
The acquisition greatly strengthens Brookfield's existing U.S. business and results in the expansion of its operations in nine countries, with a rapidly growing presence in China, Brazil and India.
"Today, Prudential's real estate and relocation services businesses join a global company with a track record of over 100 years of success," said Earl Lee, President of Prudential Real Estate and Relocation Services. "We're excited to become part of a company that is focused on and deeply immersed in the real estate sector and is in the business for the long-term."
Earl Lee will continue to lead the U.S. real estate business, and Rick Schwartz, President, Brookfield Global Relocation Services, will assume responsibility for the combined global relocation services business.
Brookfield's parent company, Brookfield Asset Management, is a global asset manager with approximately $150 billion in assets under management. Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA.
About Brookfield Residential Property Services
Brookfield Residential Property Services is a leading global provider of real estate and relocation services, analytics and knowledge. The company's portfolio consists of leading brands, including Brookfield Global Relocation Services, the second largest provider of global relocation services, Prudential Real Estate and Relocation Services, Brookfield Real Estate Services, Royal LePage, Real Living, Via Capitale and Centract. Through its real estate brands, it has nearly 80,000 real estate professionals in more than 2,800 locations, who transact over $150 billion annually. Its global footprint spans North America, the United Kingdom, France, China, Singapore, India, Brazil and Australia, and includes more than 2,500 employees worldwide. It is a division of Brookfield Asset Management, a global asset manager with approximately $150 billion of assets under management.

Why do I care about what Brookfield Global is up to? My own company, Real Living Tidewater, is one
of Brookfield's many assets. They own my franchise. I do business with them. This is big, it matters.

Waiting Until Spring to List a Home

2011-11-07T15:28:00.000-05:00

Hmmm, should I list my home for sale now, even though it is the holiday season and end of the year, or should I wait and list it in the spring? Everybody knows that springtime is the best time to sell a house. Isn't it? I hear this question every year about this time, my answer is always the same: "Do NOT wait, list now." If everyone else is thinking like you, they will keep their homes off the market until spring too, (meaning less competiton for your home now) then all of a sudden, come spring, the market will be overflowing with new listings, competing for the same (few) buyers! Besides, what about all those foreclosures that the banks put off over the holidays? They will be hitting the market too. What if the interest rates change and buyers can no longer qualify for the same loans? What if home values continue to drop? That same home may be worth even less in the spring. If you have a home to sell, sell it now. Serious buyers are still looking for homes, even through the holidays. And don't forget about taxes, some buyers need to buy before December 31st, to get tax benefits. Waiting or putting it off could backfire on you. The time it takes to sell a home right now is longer than you think. List now, you may get lucky and get it sold by spring! And just some food for thought: If you price it "competitive", (about the same as other homes like it) you will be competing for a while, (and make every home less than yours, look like a better deal). If you price it "compelling" (10 to 20% below market value) yours will be the first one buyers want to see and may be the first one to sell. Sell, now, get your money and take your time choosing your next home, and at a bargain!

Earth Quake in Virginia

2011-08-24T13:18:00.001-04:00

So ... where were you when the earth shook? Yesterday's earthquake rocked the East coast of the United States in a lot of places that do not regularly have earthquakes so it surprised many people. For some it may have been a once in a lifetime event, for me, a New Hampshire girl, not so much. I can remember having tremors and earthquakes, but up there, the earth is granite and it makes noise. You can hear the earthquake coming and going by. The hilly terrain means you will see debris fall from hills and trees so it is easier to recognize. With the threat of terrorism still all around us, I wonder how many people had that thought cross their minds? The officials all say it was centered near Mineral, VA, just 10 miles from a nuclear power plant, hello? Why is a nuclear power plant put up on a known seismic fault? Probably cheap land, huh? So now we wait for the aftershocks, which may be so small thay no one feels them. Wonder if this means we are good to go for the next 100 years! Want to know more, visit the Geological survey site link I have attached. Stay safe!

Swamp Fire !

2011-08-16T13:22:00.001-04:00

On August 4th, 2011 lightning seems to have ignited a fire in the Great Dismal Swamp Wildlife Refuge, which is in Virginia on the border of North Carolina. Thousands of acres have been burned and crews are fighting the fire around the clock to get it under control. How does a swamp catch on fire? Swamps contain "peat" and peat is flammable.
Smoky conditions surrounding the fire are keeping residents indoors or making them take extra precautions when outdoors. Smoke has been reportedly smelled as far away as Delaware! Depending on the winds the smoke may be headed your way, please, if you have a pre-existing condition like asthma or COPD, use your medicines as they were prescribed, stay indoors and keep that inhaler or nebulizer at hand for emergencies. Watch your local news station for "smoke and air quality" updates daily. I will be praying for some much needed rain as it seems to be the only sure way to get this one under control and out! Thanks to all those fighting this fire.

Interesting FSBO Story

2011-08-09T16:44:00.000-04:00

FSBO is a "no go" ...
(From an article in the Wall Street Journal, August 5th, 2011)

I can’t resist commenting on the story which recently appeared in the Wall Street Journal regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and livelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do.

After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sombrotto has been espousing for over a decade. Let’s look at two of those myths:

Myth #1 – You Will Pocket More Money Selling on Your Own
Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?

From the WSJ article:

“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.

By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”

Myth #2 – The Internet Alone Can Sell Your Home
Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?

From the WSJ article:

“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”

Bottom Line
There is a reason the real estate industry has been around for centuries: it performs a valuable service.
If you or someone you know needs help in real estate, contact me.

Sum-sum-summertime!

2011-07-05T17:35:00.000-04:00

Here we are already in July, the year is almost half over, how's your's going? I have just returned from a 2 week trip out West to visit family in Utah and sight see in Idaho and Wyoming. Everyone should get out across these wonderful United States of ours and get in the sites. Amazing how just a few hours away from home can be so different in climate and culture. As we ascended the Uintas mountains in 85* heat we had snow drifts beneath our feet! Cool! Hiking at the top thru old mining camps really makes you appreciate what it took our forefathers to establish this country. Some times the actual travelling is the hardest part ... for me, an injury to my leg the night before takeoff really threw me a curve ball. Fortunately, the airlines simply offered me a wheel chair to get through airports and we got there! (Now that is a humbling experience!) Being prepared makes travel easier. Take the time to plan and get ready long before you leave and fewer things are likely to go wrong. Check out the link to the governments travel site, every hint helps. If you are a seasoned traveler, like me, you know the routine but please be patient with the families and 1st timers, they are overwhelmed with rules and regulations. On my last flight there was an elderly gentleman celebrating his 80th birthday ... and his first airline flight! Good for him! Go now, shop those travel sites, find a destination that has always intrigued you and find a way to go there! In all my travels, I can honestly say that I have never regretted going to any new place. Those are memories I will alwyas have and experiences that shape who I am and keep educating me to new things. Do it! Go travel! Then tell me all about it!

Hurricane Season Again

2011-06-02T15:37:00.001-04:00

It's that time of year again, time to get out the old Rubbermaid storage buckets and refill your supplies that are probably still in there from last year! Get rid of the outdated stuff and stock up on fresh water, batteries, food supplies and first aid. If you have been in Tidewater for a few years, you know how this works. If not I've included a link to the govt hurricane preparedness site, check it out. Be sure to stay tuned to any tropical weather out there, things can change quickly and getting out of this area can be very slow. Plan ahead, if you plan on leaving, do it early! Are you asking yourself "why do I stay here with the hurricane risks every year?" Hey, everywhere has it's environmental issues, unlike earthquakes and tornadoes, hurricanes at least give us a weeks warning! Good planning works. Be safe and have a great summer! Remember, hurricane season runs from June 1st to November 1st.

What was that BOOM ?

2011-05-17T15:23:00.000-04:00

Did you hear the recent unexplained BOOM! I did! It was about 7:30 one evening and I had all my homes windows open ... my husband and I both looked at each other and said "what was that"? No aircraft around, no sirens followed but we soon found out that many residents along the coast of VA also heard (and felt) the BOOM! Since then, I have heard multiple theories: the US military conducting "top secret" missions, a small offshore earthquake, a meteor, a sonic boom and my favorite "seneca guns". What is seneca (or barisol) guns? It's basically a word to describe unexplained sounds, much like what we heard, that has no rational explanation, yet. These apparently have taken place periodically along coastal communities for hundreds of years. Hmm, works for me. There are so many things in life here on earth that we still don't understand. I heard the 8th grade class at Kemps Landing Magnet came up with the "seneca guns" theory first, good work kids, keep expanding those minds.

Saving the Mortgage Interest Deduction

2011-04-19T16:15:00.000-04:00

What is the "mortgage interest deduction"? It's the amount of money homeowners are allowed to "write off' or take as a deduction on their annual taxes, based on their mortgage interest paid annually. It was meant to encourage home ownership. It is one of the many benefits to homeowners.
The current government is talking about doing away with this benefit, please read the article (Source: www.nahb.com) and call your representative to voice your surrport for this bill (HR 25).

Take Action and Stay Connected

Help Save the Mortgage Interest Deduction
A resolution that supports retaining the mortgage interest deduction is pending in the U.S. House of Representatives.

Introduced by Rep. Gary Miller of California, H. Res. 25 states that “the current Federal income tax deduction for interest paid on debt secured by a first or second home should not be further restricted.”
At present, there are more than 90 co-sponsors for this important resolution. Show YOUR support for the mortgage interest deduction and tell your Representative to co-sponsor H. Res. 25:
Call the U.S. Capitol switchboard at 202-224-3121 to reach your Representative's office.
OR
Visit www.House.gov to find your Representative's website and send an e-mail in support of H. Res. 25.
And . . . be sure to thank your Representative if he/she is already a co-sponsor of H.Res. 25 or decides to become a co-sponsor.
Read the resolution
Co-sponsors

Rising Gas Prices - Solutions

2011-04-12T16:38:00.000-04:00

So it's looking like we are about to have a very expensive summer, with gas prices up over $3.50 and fast approaching $4 per gallon! What can we do? I have already "downsized" my vehicle, so now what? Well, I found this article on the abc news website. Check it out:

What can cash-strapped consumers do to fight prices at the pump? Here are a few tips to fill up the tank without breaking the bank:

1. Stay in Tune -- It's simple: vehicle maintenance saves gas. Use the recommended motor oil, replace dirty air filters, keep tires -- including the spare -- inflated to the proper pressure, and tune up your engine.

2. Cool It, Mario Andretti -- Flooring the pedal at every green light, then slamming on the brakes at the last minute, guzzles gas at a surprising rate. More moderate driving can save over 30 percent of the gasoline you use.

3. Lighten Up -- When summer vacation rolls around, keep the luggage off the roof rack and carry as little weight as possible. Those extra pounds in the trunk or backseat make the engine work harder and consume more fuel.

4. Take a Hike -- Do you really need to drive? For shorter trips, it often makes more sense to walk or ride a bicycle. It's not only good for your wallet, it might also be good for your waistline.

5. Idle Hands -- Idling in traffic does nothing to save gas or money, not to mention your stress level. Avoid rush hour or busy commuter routes.

6. Go Shopping -- Shopping for a new vehicle? Consider the long-term savings that a hybrid or alternative fuel vehicle might give you. Some cities and states also offer great incentives like rebates, access to carpool lanes and free metered parking for hybrid or alternative fuel cars, trucks and SUVs.

7. Lose the Leadfoot -- Driving the speed limit doesn't just keep the police off your tail. You can save up to 14 percent on longer trips by reducing your speed.

8. Take a Cruise -- Using cruise control can yield surprising increases in fuel economy. If your car is so equipped, try using it on the freeway to keep your speed at a consistent rate.

9. Critical Mass -- Take the bus, train, subway or other mass transit and leave the car at home.

10. Alternative States -- The alternatives to standard gasoline are growing in number and popularity. Biodiesel, the blend of gasoline and ethanol known as E85, and other alternative fuels aren't available everywhere yet, but check to see if your car can accept what's sold in your community.

Here in Tidewater, VA we have some "cheap gas finding services" try this one: http://virginiabeachgasprices.com

Just in Case ...

2011-04-05T14:41:00.000-04:00

What would happen to you if you couldn't speak for yourself? You are probably carrying a cell phone so why not put your I.C.E. (In Case of Emergency) information in there? Most EMT's, paramedics, hospital ER personnel, police, fireman and 1st responders are trained to check your phone and or person for anything that might help them assess your medical condition. Take a few minutes to put an I.C.E entry in your cell phone that contains at least:

* Your allergies

* Your next of kin or person to be notified

* Your current medications and medical conditions

* Your medical contact (Dr)

Be clear, such as: My husband or wife is: NAME His or her cell is: #
I have diabetes and take insulin by injection. I have a pacemaker. My doctor is Bob Martin, MD (###) ###-####
Get fancy if you need to, include more than 1 contact, list them, 1st born child, son : NAME and #, identify your blood type and all medications if you take multiple types. Mention athma, seizures, past surgeries. Speak for yourelf when you can't actually speak. If you have a smart phone, be sure to put it in a memo or under an I.C.E entry that can be viewed even when the phone is "locked". At the very least put in an entry under "home", the emegency personnel can at least start there. Do it now, you could save your own life.

News from a Trusted Lender

2011-03-01T13:05:00.000-05:00

I just saw this email from one of my favorite lenders, Keith Robinson over at Towne Bank and thought I would share it ... give it some thought, then call me or Keith.
by The KCM Crew on March 1, 2011 ·

There is a very famous saying which asserts “Sell High, Buy Low”. It is obviously great advice no matter what the investment. Below is a graph showing the cycle of investments. It shows the points of maximum risk and maximum opportunity when purchasing. We want to sell high (point of maximum risk) and buy low (point of maximum opportunity).

The challenge is how to determine when we have hit bottom if you are a purchaser. The only time you can guarantee a bottom is after you pass it.

However, there is more and more evidence that the COST of a home has in fact hit bottom. Notice we have used the word COST. Unless you are an all cash buyer, you must take into consideration the expense of financing a property to determine the true cost of purchasing the home. Interest rates have increased over the last quarter; and the rise in rates has counteracted any fall in prices.

Let’s look at an example:

Let’s say you were going to take out a $200,000 30-year-fixed-rate mortgage in November of 2010. At that time, interest rates were 4.17% (as per Freddie Mac). Your principle and interest payment would have come to $974.54. According to the most recent report from Case Shiller house prices fell 3.9% in the 4th quarter of 2010. The most recent report from the Federal Housing Finance Agency shows a 0.8% fall in prices. Let’s use the larger percentage decrease: 3.9%.

For the sake of keeping the math simple, we will now say you can get the same house with a $192,000 mortgage (4% discount from November price). Interest rates are now 4.95% (as per Freddie Mac).

Your principle and interest payment would now be $1,067.54.

By waiting to pay less for the PRICE of the house, the COST increased $93 a month. That adds up to $1,116 a year and over $33,000 over the life of the loan.

We realize that there are other things to consider (ex. the mortgage tax deduction, etc.). This example is just a simple way to show that there is a difference between COST and PRICE.

Bottom Line
If you want to buy low, buy now. It appears COST has hit its lowest point.

Keith Robinson

NewTowne Mortgage - Your Hometown Mortgage Lender.

Put Some Color in Your Life (or change some!)

2011-02-26T13:25:00.000-05:00

Just back from a recent trip to a very colorful town, New Orleans and I came across this article on the REALTOR* website I thought I would share. I think we have all tried to do that one "accent" wall and most of us have not been completely pleased with the results. Or I'll bet you have moved into a place that had one of those red walls and found out it was a lot more diffcult to change it out than expected. Well, read on: And good luck with you next try at that elusive perfect red wall.

(New!)
Painting Walls Red: How to Pick It and How to Get Rid of It
Painting walls red—or any bold color—makes a definite statement, which you may want to take back someday. A tinted primer will cover your mistake. Read

Visit houselogic.com for more articles like this.

Interest Rates are Rising!

2011-02-11T15:53:00.000-05:00

The Virginian-Pilot reports that interest rates are once again rising. This time the average home loan interest rate has risen above 5% for the first time in years. What does that mean? Is it time to stop thinking about buying a home and actually do something about it? Do it now before the rates go even higher. Every time they "tick up" means less house you can afford at the higher rate and more money you have to pay back! Take charge of your future financial well being, stop renting, start putting that rent money into a home of your own ... then you will have something to sell when years from now you are ready to move up or move on. (You won't have given it up to some landlord). Do it, become a first time homebuyer! First step, contact a REALTOR, they can be a great source of information and can help put your plan in motion. Oh yeah, BTW, I am a REALTOR*. Contact me.

southsiderealblog: Real Living Launches New Home Search Website

2011-01-25T11:22:00.000-05:00

southsiderealblog: Real Living Launches New Home Search Website: "Family Realty GMAC is no more, it has been replaced by an up and coming real estate franchise known as 'Real Living'. We are proud to be the..."

Real Living Launches New Home Search Website

2011-01-25T11:19:00.000-05:00

Family Realty GMAC is no more, it has been replaced by an up and coming real estate franchise known as "Real Living". We are proud to be the only Real Living franchise in the Tidewater Virginia area, hence the new name: Real Living Tidewater. The new website offers the deepest and richest home search information available to consumers right on each home listing! Community information, home values, local economy, environment, quality of life, schools and more! Crazy full of info! Check it out, go play with it, even if you aren't really looking for a home right now. It can be a great resource for relevant housing data. The new site even offers easy social network sharing, so you can show your friends the house you are looking at. You will never have to go to multiple sites to gather information about a prospective home again, it's all right there. When you are ready to take that next step and buy or sell your own home, call on me. Real Living Tidewater is right here in Virginia Beach, ready to serve all your real estate needs. Moving? Let us get you connected to an agent in your new location so they can be ready for your arrival. If you know of someone who is planning a move, have them call us. http://www.realliving.com

Interest Rates Drop Again!

2010-10-18T14:25:00.002-04:00

Ok, home loan interest rates have dropped again to like 4.19% (I saw that posted in a recent Virginian-Pilot article)so why aren't homebuyers snapping up homes? In my opinion, they are not confident in the economy, their current jobs or that the real estate market is done falling in value. If I didn't already own a home and rental property I would be seriouslsy considering getting in on a 4% mortgage myself! It's a scary thought to get into a 30 year mortgage, I know. The sad part about it is, anyone who rents is already paying a mortgage, just somebody elses. Why not pay your own? Even if you only stay in that home for say 10 of those 30 years, at the end of the 10 years you have "something tangible" to sell. Unlike a renter who has nothing but a shoebox full of reciepts. For all those years you got to live like you wanted in your own space with your own rules, no landlords. If the property has not increased in value well, then you still did better than if you had rented for 10 years! Bonus: It might be possible to "sell" your mortgage interest rate as part of the sale, do you think that a 4% interest rate will be valuable to buyers 10 years from now? Or maybe you would like to let someone else pay your mortgage ... rent out that home! Home ownership offers so many benefits and solutions, if you need assitance with any matter of real estate, please contact me.

Virginia Tax FREE Holiday

2010-10-01T14:25:00.006-04:00

Virginia will be having another "tax holiday", October 8-11, this time on "Energy Star and Water Sense" labeled products. What does that mean? If you have been thinking about or putting off replacing or upgrading these items in your home, why not do it while there is no tax! Following is a general list, please see the website for more details and terms: Air conditioners, ceiling fans, compact flourescent light bulbs, dehumidifiers, dishwashers, programmable thermostats, refrigerators, washing machines/clothes washers, bathroom sink faucets, faucet accessories, showerheads, toilets and urinals. Of course these items must have the "EnergyStar or WaterSense" labels, be less than $2,500 and be for personal or noncommercial use. Hey, if you were going to have to replace it anyway, consider the "EnergyStar or WaterSense" replacement during this tax free holiday weekend. Save yourself some money and do some good for the environment. Saving our resources is good for the future. Besides, then you will have a clear conscience to reprimand anyone who doesn't! www.tax.virginia.gov

Mortgage Change Deadline Approaches

2010-09-20T12:47:00.003-04:00

Would be home buyers take note, changes are coming to all new FHA mortgages, as of October 4th, 2010 all new case # files will be effected by the new rules, regulations and guidelines. There are several points that will be important for buyers:
1)The upfront MIP (mortgage insurance premium) will likely increase;
2) Buyers with FICO credit scores "over 580" buyers will still be able to put down only 3.5% (of the sales price) but with FICO scores "under 580" buyers will be required to put down at least 10%;
3) Closing cost assistance will be capped at 3% now instead of the 6% it has been.
*Of course there are other rules and I have included a link to it (click on the title) for more information. These rules are designed (I think) to bring back responsible home buying and lending. If you have been thinking about getting into a new home, now is the time! Even with all the changes it is still a great time to own a home. Interest rates have risen slightly but are still incredibly low and the selection of homes is still excellent. Contact a trusted Realtor.

Dodging the (Hurricane) Bullet

2010-09-08T11:17:00.004-04:00

The Hampton Roads/Tidewater area was recently fortunate to have only felt a brush with hurricane "Earl" as it made it's way up the East coast. This time we were spared but what about next time? Hurricane season runs until Novemeber, are you covered in the event of a direct hit or flooding? What does flood insurance cover? what does your homeowners policy cover? Homeowners insurance seems to cover damages from the top of the house down (not floods) and inside, but flood covers water damage from the ground up and the associated damages.{Ask a flood isurance agent for more info.} I'm not here to sell you anything, I will only say that logic tells me, if you live close to a water source that is capable of rising in levels or in a low lying area, you should have flood insurance. All of Hampton Roads/Tidewater has water capable of rising in inclement weather and many of the neighborhoods are in low lying areas that can not drain away rainfall if it accumulates too fast. Even though it is not "required" by mortgage companies or the government's 100 year flood maps, I feel flood insurance is just one more way I can live in this beautiful coastal community and be assured that I am covered and responsible for my risk of flood. I choose to live on the coast but I can also choose to be covered in the event of disaster. Be sure what your homeowners insurance will and will not cover, before the next storm. Don't let a flood be the time you found out you needed more coverage. FYI - Flood insurance policies can not be written when there is an approaching storm, so there is no waiting until the last minute to ask about it. If you are buying a home and trying to purchase flood insurance, consider assuming the previous owners policy for uninterrupted coverage. Call your current insurance agent and ask about flood today. Enjoy living with "peace of mind" in our lovely coastal communities. www.fema.gov

Tourist Season in VB

2010-08-17T15:39:00.005-04:00

Here we are, already in the middle of August and "back to school" is in the air. The days are still hot and humid but the sun is setting sooner. Vacations are wrapping up, the tourists will all be gone soon and we can use our fine beaches again. Not that we don't LOVE our VB tourists, we do ... they keep our tax base low by coming in and paying taxes so we don't have to. If you have been one of our beloved tourists, thanks for coming, but have you ever given thought to moving here to Hampton Roads instead of only visiting once a year? Imagine if you could go to the beach anytime you wanted and not have to stay in a hotel room. Imagine owning a home that you could use as your primary residence or owning a beachfront second home, that when you are not occupying it, you could rent out and collect huge sums of rental monies from other tourists. (Could likely pay for itself and then some.) Imagine all the activities that take place here year round that you are missing. You already know that Va. Beach is a wonderful place to visit, why not stay and call it home? If you have given any thought to making the move to Va. Beach a permanent one, whether now or in the near future, contact me, let's make a plan and start looking. Maybe you are a "local" but never really thought about owning a second home, now may be the perfect opportunity to explore the possibility. This current market may be challenging for sellers but it is a varitable "smorgasboard" of opportunity for buyers. Let's see if owning a second home or income making property is right for you.
Have a safe summer.

Duck, duck, GOO !

2010-07-15T11:48:00.003-04:00

So, as ususal a mother Muskogee duck in my neighborhood has laid her eggs in a nest in someones front yard. The duck family has no access to water because they are a whole block away from the nearest pond and everyone has a fenced yard. She now parades the almost fully grown ducklings up and down the street, stopping at front doors and open garages, her babies begging for food. Ok, that's cute but ducks poop! Picture 10 babies and 1 mother pooping all over your sidewalks, driveways, lawn and decks and heaven forbid you leave your garage door open oh yes, they will come inside and poop there too! Next come the flies, just seconds after the green "goo" hits the ground! The terrific odor strikes you next, smells a lot like a barnyard! What's a homeowner to do? According to the city (animal control) nothing. They are a protected species. Argh! Hopefully in a few more weeks the ducklings will be big and strong enough to fly and go find a source of water, till then we keep power washing, sweeping and hosing out the garage. Mother nature has a funny sense of humor.

After the Tax Credit

2010-06-28T16:06:00.003-04:00

Ok, so the tax credit has officially expired for most people. The government has extended the deadine for those buyers who are already under contract but will not be able to "close" by June 30th, 2010. Since so many of these deals are with bank foreclosures and they take considerabley longer than most real estate transactions, the deadline extension will help many buyers who thought they would be getting the tax credit to actually get it. There has also been an exception to the tax credit made for military members who were deployed for at least 90 days during the tax credit offering ... those members may still qualify for the credit if they meet all the guidelines. So aside from that, now that the tax credit is "gone" did you see how the home sales numbers have tumbled? Maybe it's time the goverment left well enough alone and just let the market recover. Real estate runs in cycles, if left to it's own, it will eventually recover. Does artificially injecting money into the system really solve anything? Why not save all those billions and just leave it alone? Imagine a world where only truly qualified people could get mortgages and they got good deals on homes instead of inflated prices! That seems like a good thing to me. Buying a home is a great responsibility and can be the greatest source of wealth for many individuals in the future, if they come into it prepared and do the right thing. Responsible homeowners pay the mortgage because they can afford the home they chose. It takes planning, saving and please, use a Realtor, that's what they do for a living, walk buyers through the process of buying a home. Buyer representation is typically "free" as the sellers agreed to pay the buyers agent when they listed the home for sale (in MLS), so there is no reason not to. We are simply getting back to the responsible way of doing business, not anyone with a pulse can qualify for a "crazy terms" loan that they can't afford ... jobs matter, history matters, credit matters, as it should be. Even if you are not in the right place to buy a home now, talk to a Realtor, they can get you headed in the right direction so that one day soon, you too will be one of the lucky ones, a homeowner.
Keep paying rent and you are only paying someone elses mortgage, and what do you have to show for it after 2, 5, 10 years? A box full of reciepts. Think anyone will pay hundreds of thousands of dollars for that box of receipts? If you owned a home for 2, 5 or 10 years what would you have? A home to sell, possibly for a profit! At the very least you would have been in a home you loved, living the life you wanted (no landlord) and even if you break even when you sell, you will have lived somewhere for "free" for all those years. If you make a profit, well, yahoo! If you stay in that home for more than a few years, you will likely see a real profit. Then what? Sell and move to a bigger home? Keep it, take some of the cash value out and buy more real estate? Why not be a landlord yourself? Let someone else pay your mortgage, pocket the profit every month and when it's paid for (by other people) sell it for profit! People do become wealthy owning real estate, why not you?

What's a "Short Sale" anyway?

2010-04-16T14:17:00.005-04:00

Short sales are everywhere! You see them online, in newspapers, homes magazines and hear about them on tv, but what are they? Short sale refers to a situation when a homeowner owes more on his/her home (mortgage) than it is currently worth on the market. So if he/she can sell it, and get the bank to agree to take less than is owed, the amount paid to the bank is "short" of the amount owed. Why would a bank allow this? The cost for them to go through the entire (legal) foreclosure process and then hold the properties and pay taxes on them and pay (real estate companies) to market them, would far exceed the smaller loss they would be willing to take on a short sale. Some banks will also excercise their right to persue the homeowner for a deficiency judgement, or basically go after them for some or all of the difference between the (short) sale price and the amount owed. A short sale will show up on future credit scores but is far less damaging than a foreclosure. So is short sale a viable option for getting out of financial trouble, it depends. 1st step if you are experiencing difficulties in making your mortage payments is to contact your lender. They would much rather work out a solution with you to keep the home and now there are programs set up to help. Ask. You are not alone. You see the news, you know that millions of people have suffered in these trying economic times, you may be one of them. If selling your home seems inevitable, call on me. We will get your home out there on the market as quickly as possible and do the best we can to get it sold before it's too late. I can help. wendydittrich@familyrealtygmac.com

Running Out of Time

2010-04-05T17:07:00.000-04:00

Spring has sprung, people are back outside and homeowners are working in their yards. Now is a great time to spruce things up with new plantings, fresh mulch and some much needed pruning after a hard winter. This winter was especially hard here in the Tidewater area, lots of snow, wind and cold. While you are out gardening, check those trees for deadwood branches that may just be dangling there waiting to fall on some unsuspecting passerby. Get to it before it gets to you or them. Spring also means the real deadline for taking advantage of the home buyers tax credit is about to arrive. As a reminder, buyers must be under contract by April 30th, 2010 and close before July 1st, 2010 to qualify. (There may be other terms see the website/link). There is just enough time to get in under the wire, if you want that tax money. There will always be homes for sale but the mortgage interest rates and home prices may never be lower! Now really may be the best time to buy a home.

Snow, Snow and More Snow!

2010-02-12T11:55:00.000-05:00

Okay, so are you tired of this cold snowy weather already? It is nice to know that there is still some cold weather left in this old planet of ours, maybe we are making strides in that whole "global warming" trend. I know that soon it will be warmer and folks will be thinking about springtime. I want to remind anyone who has been thinking about making the move to a new home, that the tax credit initiative that president Obama put in place expires, (for real) on April 30th, 2010. Why not finally get a home of your own, stop paying someone elses mortgage, pay your own and have something to call your own (and sell later, possibly for profit). Or maybe the kids are gone and the house is just too big and empty for you, now is a great time to downsize, and there is even a tax credit of up to $6,500 for current homeowners! Or perhaps your family has outgrown the place you are in now, why not get a bigger home while the government is willing to pay you some of the money back as a tax credit or refund? Thinking about taking that job transfer to get that payraise or just save the job you have? Buying a home may never be this affordable again. Contact me to discuss your own personal real estate dreams or needs. Let's get you started today so that you too can reap the benefits of the current housing market.

Bank Owned Properties/Sales

2009-12-09T14:53:00.000-05:00

It has happened more than once that nice families who are trying to get "the best deal they can" opt to buy bank owned properties, only to be surprised at the length of time it takes to get a response from the bank and end up being dislocated and in limbo at the banks mercy. Even when they have been counseled on the process and how long it may take. I hate seeing that! There is only so much a helpful real estate salesperson can do against a face-less entity that holds all the cards. If you are considering purchasing bank owned properties (also known as REO's) please heed this warning: Plan for the buying process to take 3 - 6 months, really. Have a plan for where you will live in the mean time from the time you sell your current home to the time you can close on the REO and move in. [You will probably have to close on your current home before closing on the REO to satisfy the bank]. Figure out where you will store all your belongings. Budget carefully, there will be repairs that the bank will not fund but your new lender will require and unless you do you those repairs (at your expense) you will lose the house and most likely all the earnest money you paid up front, which sometimes can be a substantial amount of money! There are no shortcuts. There is no easy way around an REO, contrary to some of the ads you see out there today. Granted the "deals" are great, but assess carefully if you have the time, money and grace under pressure to stand the test of time. Celebrating your thanksgiving, eating MacDonald's, in a tiny hotel room is not a memory your kids will cherish. The best I can do is prepare my clients and walk them through it. If you still think buying REO's (bank owned properties) may be for you, contact me, let's talk then get shopping! Now is a great time to aquire these unique properties, if you are prepared.

HomeBuyers Credit Extended/Expanded

2009-11-13T21:17:00.000-05:00

It looks as if the homebuyers credit extension and expansion has been approved by the government and is only awaiting the presidents signature to be final. The newly extended tax credit is expected to remain up to $8,000. for 1st time homebuyers and be good for current home owners (who have lived in the home for at least 5 of the last 8 years as the primary residence) to get as much as $6,500. in tax credit. Of course there will be guidelines and rules and regulations and income limits, it is the US government. Any "free" tax money is good money and if you or someone you know has been considering buying or selling real estate now may be the time, this may be your second chance. Call a Realtor today, PS. I AM 1.

Great News Coming for Military/Vets !

2009-10-14T10:39:00.000-04:00

The House of Representatives has unanimously voted to extend the $8000. tax credit for first time home buyers to active duty or returning vets that have been deployed. This now goes before the Senate where it is expected too also pass, then it will become law. The actual guidelines will be announced once the Senate has passed but
it looks like it will be extended until November 2010, for qualifying members.
If you are thinking about making the move to home ownership, contact me today. For more information use the link: http://www.govtrack.us/congress/bill.xpd?bill=h111-3590

Been a While ...

2009-10-09T12:33:00.000-04:00

Ok, so it's been a while since I've blogged here, it's because I have been busy trying to get homes sold and first time homebuyers into homes before the FREE $8,000 tax credit expires! Now that we have reached the end of what appears to have been a very successful attempt at getting buyers back into the real estate market, there is talk of the credit being extended and expanded. Until I see something "official" in writing from the the government, I am keeping my fingers crossed. Would you like to see a bigger tax credit available to more people for a longer time period? For instance: if the credit were $10,000 for any home buyer (not just first time or those with limited incomes) and it did not have to be paid back and the offer was good through 2010, would you then consider moving or buying a home? I still believe that the real estate market runs in cycles, it will eventually come back, on it's own, if given enough time. So, is it wise to spend more tax money to just speed up the time table while prolonging the deficit? Wow, deep thoughts?

Think About It ... Time Flies.

2009-07-24T10:34:00.000-04:00

So here we are in another Hampton Roads summer, the kids are out of school and there are lots of activities going on all over the region. Soon it will be September and you will be saying, where did summer go? The same thing is happening to that $8,000 tax money you have been hearing about ... the offer to get it (FREE) expires on November 30th, 2009, and you have to be "closed" on a home by then to get it. Since it can take 3 to 6 months to get qualified, find a home, get an offer accepted, do the neccessary steps required to "close" on it, the time clock is ticking away on this too. Ideally, first time homebuyers (or those who have not owned a home in the past 3 years) need to be already under contract by September to assure they can get that $8,000. If you have even thought about buying a home, please consider doing it while the government is giving away FREE money! Call a REALTOR* today. Sure you can buy a house anytime, but right now you can get $8,000 just for doing it now!

Cure for CARMAGEDDON ?

2009-07-13T12:03:00.000-04:00

Ok, so if you live in or around Hampton Roads Virginia, you are aware of the massive problems this past week at the Hampton Roads Bridge Tunnel. The Virgininan-Pilot dubbed it "Carmageddon". Here's an idea toward the solution: (from a REALTORS* perspective) If people lived in homes closer to their jobs, there might not be so many cars on the road in the first place. Imagine how much gas and time those folks could save, not to mention impact on the environment. Are you one of the thousands who got caught up in all that mess? Think now might be a good time to consider buying a home closer to your work? Was that your sign? Eliminate that awful daily commute altogether! Why not? Home loan interest rates are low ... If your a first time home buyer, you could get back up to $8000. in tax credit ... the selection of homes is incredible and there are bargains to be had. Now may be the perfect time to get that larger home you've been wanting or downsize to save money or because the kids are all grown up. Contact me and let's at least explore your possibilities. (757) 237-4081 Call or text.

Reaping the Tax Credit Rewards

2009-07-01T16:13:00.000-04:00

I have been so busy with first time homebuyers, and they all want to capitalize on that $8000 tax credit (rebate) offered. They know they have to find homes and close on them before November 30, 2009, to claim that money. So the rush is on! There are so may available homes and choices and so many sellers willing to help buyers by paying closing costs that buyers are really reaping the rewards of buying a home in this day and age. If you have given any thought to buying ahome or wonder even if you could buy a home call me, let me help get you connected to the people who can help get you there. If you can buy a house, now may be the best time in your lifetime to buy one. Low interest rates on loans, great selection, bargain prices and sellers paying closing costs for buyers ... it doesn't get much better than that! Really. Contact me to get started.

Changes to the $8000. Tax Credit

2009-05-19T16:37:00.000-04:00

Ok, so I am already hearing and reading that there may be some changes coming to the new $8k tax credit now being offered by the US government ... they are considering allowing that credit to be used as a downpayment instead of being collected at tax filing time. As much as I would love to see more people be able to have $8k to put down on homes, isn't this part of what got us in trouble in the real estate market in the first place? People buying homes they really can't afford and putting nothing down so feeling like they have nothing to lose? I hope they find a solution that can work for everybodies benefit. Stay tuned ... I'll let you know what I hear next.

Across the country ...

2009-05-13T16:58:00.000-04:00

Having been out to Salt Lake City, Utah recently, I have discovered firsthand how the failing economy has effected homeowners and housing markets. The housing market there is very depressed. It has reinforced my belief that we are very fortunate here in Hampton Roads to have so many military facilities and members that support our own local economy, no matter what. They keep moving in and out of the area and buying and selling real estate because they know, real estate is still one of the safest places to put your money and hopes for the future. When you buy a home you are not only investing your money on your own family rather than a landlords, but you are doing your part to support your local and national economy. You are setting money aside for a day when you will need to get it back, like when your kids go to college or when you are ready to retire ... what then? You could sell the home and pocket the profit or keep it and live payment free when your mortgage is paid off. Need money before then? As a homeowner you can borrow against the value of that home and pay bills or invest in other financial plans. Renters will never have any of those options. If you are here in Hampton Roads, VA, now may be the perfect time to invest in your own home. Contact a Realtor*, oh yeah, I'm a Realtor*!

Business is Booming!

2009-04-27T13:28:00.001-04:00

Maybe it's just me, or Family Realty GMAC, but we have seen a real pick up in action over the last 2 weeks. Listings are being shown more frequently, offers are coming in on homes for sale and buyers are putting in contracts on homes to purchase! Lots of activity. I am a realist, so by no means am I saying the worst is over, we have a long way to go but if people keep buying we will pull ourselves out of this recession the gradual, natural way. Real estae, like most things, runs in cycles ... highs and lows ... we have been in the low for a while now, it's time for things to start heading up again. If you have been thinking about making a move into your first home, a larger home or even downsizing, now may be the perfect time. Interest rates are still low, choices are still plenty and bargains can still be had. Don't wait until the rates go up or buyer incentives (like closing cost assistance) go away. Contact a REALTOR* today, oh yeah, I am a REALTOR*.

Upside Down Perspective ...

2009-03-12T10:59:00.000-04:00

Recent front page headlines in our local newspaper read "33,000 homeowners in Hampton Roads are upside down in their mortgages" ... Pretty dramatic words, first of all, define "upside down", it usually means a homeowner who owes more on a house than it could sell for, but why are they upside down? Did they get in over their heads in the first place? Anyone getting a VA loan right now starts out upside down because they are allowed to finance in all sorts of closing costs and fees above and beyond the mortgage, you know, no money down. Are they upside down because they have refinanced all the equity out of their homes and now wonder where all the money went? (Was it spent on bills, new vehicles, remodels, education or vacations?) Let's talk numbers, how many homeowners do you think there are in Hampton Roads? (All 7 cities) I can only guess it is more than 750,000 ... that would make 33,000 approximately 4.5%. In comparison to other communities in the United States, we are doing pretty good. If the media keeps pushing the manipulated figures and trying to sell a newspaper with sensationalism, it will only take us longer to pull ourselves out of this housing slump we are in. Bottom line: it is a great time to buy a house! Interest rates are historically low, there are so many homes to choose from at deeply discounted prices, and buying will always make more sense than renting. When you rent you are only paying someone elses mortgage, pay your own and have something of value to sell later. Even if you take a loss it will be far less than if you had not owned and only rented. Renters have nothing of value to sell later. Do your part to help restore the economy, buy a home now and enjoy the benefits for years to come. Call a REALTOR* (an actual REALTOR*, not just a real estate sales person) today.

2009 Real Estate Stimulus News

2009-03-03T15:55:00.000-05:00

It's official, president Obama has approved a new stimulus package for first time homebuyers that will result in up to $8000 in tax credits for buying a home in 2009. Of course, there are rules and regulations to qualify for this benefit but if you have been thinking about buying your first home, check out his website for more information:
www.irs.gov/newsroom/article/0,,id=204672,00.html
Then, contact me to get started on the search for your new home! Think about it ...
what would you do with an extra $8000 this year?

2008 Years End

2008-12-22T11:07:00.000-05:00

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!

2008-10-24T13:25:00.001-04:00

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

2008-10-10T13:52:00.000-04:00

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"

2008-08-27T11:18:00.000-04:00

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!

2008-03-21T16:27:00.000-04:00

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?

2008-03-06T19:24:00.000-05:00

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

2008-01-21T19:55:00.000-05:00

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.

2008-01-19T10:57:00.000-05:00

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

2008-01-15T16:03:00.000-05:00

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.