Fairfax County VA Home Search Website Blog

No, I’m not talking about the economic crisis, or any other type of personal disaster. I’m talking about the kind that Mother Nature doles out with predictable uncertainty. Your home or condo in Arlington VA can never be prepared to the extent of knowing when disasters will happen, but you can be ready for anytime they do.

Know What Type of Disaster is Most Likely

While some types of natural disasters can happen anywhere such as fires and floods, other types like earthquakes, landslides, tornadoes and hurricanes are less likely in certain regions. For example, tornadoes are unlikely in California and earthquakes are less common in Wisconsin.

Different types of disasters require different preparations so knowing what your home or condo in Arlington VA is most likely to experience is of great benefit.  For instance, you do not want to be underground in an earthquake, but in a tornado picking the lowest spot in a home such as a basement is wise.

Gather Supplies

Some things are common to all types of disaster preparations. Having these items on hand should be on every homeowner’s “must have” list.

• Extra blankets
• Water
• Several days worth of food (best if prepared or easy to make without electrical appliances)
• Candles or other forms of emergency lighting
• Battery operated radio
• Dust mask
• Can opener
• Moist towels
• Emergency escape plans
• Shelter listings
• Pet food (if you have pets)
• Fire extinguishers (every home should have at least one per floor if not more)
• Infant supplies (if applicable)

Plan for Fast ActionHave disaster plans worked out for a variety of disaster types:

• In the event of a fire, have an escape plan prepared for every level of your home.
• If your home or condo in Arlington VA is in a flood zone, have sandbags ready and stored for use at a moment’s notice.
• For tornado safety, know the best place in your home to go for shelter.

Being prepared can save you a lot of grief. Disasters are a nuisance at best and fatal at worst.  By planning for the worst, you’ll get through them in the best manner possible.

If you need more information on preparing your home or condo in Arlington VA for a disaster, I can help. Call me now at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com  
Steve@HomeSearchWebsite.com 
703-909-3939

Sometimes sellers want to try to sell their Fairfax County Virginia real estate on their own.  That’s called selling your home “For Sale by Owner” or FSBO for short. 

If you’d like to give FSBO a try, here are some tips:

1. Prepare your Fairfax County Virginia real estate for sale. Go through your home and make a list of repairs that need to be done. Clean your carpets. Repair the grout in the bathroom. Remove dead plants from your yard. Paint the interior. Wash the windows. Make sure you home looks as good as possible.

2. Choose a fair selling price. Look at what the houses in your area are selling for to get an idea. You should hire a professional appraiser to assess your home. Of course you want to make as much money as possible, but you also have to have a reasonable asking price if you want anyone to look at your home.

3. Advertise your home. Put a sign in your front yard. Create a flyer.  Place your home in MLS (Multiple Listing Service) through a realty service. Post information online. Spread the word to everyone you know. People need to know your home is for sale.

4. Get help with the legal issues. Selling a house involves several legal documents. You need someone to help make sure everything is complete and correct.  If you don’t want to work with a Fairfax County Virginia real estate agent, consider hiring a real estate lawyer to handle the paperwork.

5. Know when to ask for help. At some point selling your home on your own may not be a good idea. When you feel like you’re in over your head or just frustration, call a professional.  A good rule of thumb is to try selling your home as a FSBO for 30 days, then reassess. 

If you’re ready to get some professional help selling your home, give me a call at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.  

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com  
Steve@HomeSearchWebsite.com 
703-909-3939

Did you know that cash could be hiding in your condo in Arlington VA?  If you are sixty-two or older, you may be able to qualify for a reverse mortgage, and never have to make a mortgage payment as long as you live in the home.  Let me tell you a little more about a reverse mortgage:

What Is A Reverse Mortgage?  
A reverse mortgage uses the equity in your condo in Arlington VA to make payments to you.  You aren’t required to make any payments for as long as you live in your home.  The loan doesn’t become due until you have not lived in the home for at least twelve months.  Your home can pass to your descendents if they refinance the loan themselves.  The money can be used for any purpose you want. 

Funds are received as a lump sum, a line of credit, or a monthly payment.  You’ll have access to more money with the line of credit, but the interest rate is variable.  If you decide on a lump sum or a monthly payment, you will have a higher interest rate.  The line of credit can be a credit card or like a checking account.  You can buy groceries, gas and pay your bills out of this account.  

The reverse mortgage process is similar to the conventional mortgage process.  The property will need an inspection and appraisal.  There are origination fees and closing costs associated with this type of loan.

Who Qualifies for a Reverse Mortgage?  
The first requirement is age; only those sixty-two or older are able to qualify.  There are no income or credit requirements to be approved for a reverse mortgage.  Some lenders even let you roll the down payment and closing costs into the loan, so that you don’t have pay any money up front.

The loan is based on the age of the youngest borrower.  The older you are, the more money you will qualify for.  The good news is that the money will not affect your Social Security benefits or Medicare. 

There are advantages and disadvantages to a reverse mortgage, so be sure to do your homework before making this important decision.

If you have questions about reverse mortgages, or would like to discuss buying or selling a condo in Arlington VA, give me a call today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com  
Steve@HomeSearchWebsite.com 
703-909-3939

During a slow market, buyers have the biggest advantages of all. That’s why now is a great time to buy one of the Alexandria VA homes for sale. You can haggle without feeling guilty because you have the upper hand. Then, as the market bounces back, you get the extra bonus of rising prices making your home worth more than it was when you bought it.

Even in this buyers’ market, you need to be a strong buyer. Otherwise, you could crumble when faced with negotiating prices or needed repairs.

Three ways to be a strong buyer of Alexandria VA homes for sale:

1. Walk in to any home for sale with a set idea of the value of property in the area. This means taking a little time to do your homework.  When you know the prices of the area, you can’t be run over by a forceful seller who is determined to convince you his price is firm.  This knowledge also helps you deal with sellers who are emotionally attached to their homes and can’t price them according to true market value.
2. Walk into a home for sale with an experienced REALTOR®. When you have a professional REALTOR® by your side, you are not alone. You do not have to be self-conscious or even be the ‘strong one.’ Your agent will do all your negotiating for you. You will also benefit from their intimate knowledge of the area and what to look for in a Alexandria VA home for sale.
3. Walk into any home for sale knowing your needs and price range. Going home shopping without a clear concept of what you want and can afford can lead to emotional decisions. That can be hazardous for your pocketbook too.

If you would like more tips on how to be a strong buyer of Alexandria VA homes for sale, give me a call today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com  
Steve@HomeSearchWebsite.com 
703-909-3939

The debate is as old as the real estate industry.  Does a low, highly competitive selling price for Alexandria VA homes for sale actually generate a faster, more profitable sale than a slightly inflated price with a willingness to negotiate?  Yes, it is an age-old debate.  Yes, it has never been more important that sellers make informed decisions about their asking price and negotiating strategy.

A seller with an unreasonable opinion of their home’s value is either a wishful thinker or does not have the benefit of an accurate comparative market analysis and a real estate agent who specializes in the area.

Get Real, Know the Facts

When sellers decide to list their Alexandria VA home for sale, they usually have an opinion of value based on reported sales of similar properties.  Consciously or subconsciously, most homeowners follow the real estate activity of surrounding homes.

However, every real estate transaction stands independently.  In today’s market, buyers and sellers negotiate to capitalize on tax incentives, green-initiative improvements, closing fees, homeowner credits and local incentives.  Thus, the “neighborhood selling price” may not represent the price you can actually get for your home.

Real estate agents use differing strategies to secure listings and set sales prices.  Therefore, a seller who requests proposals from three different Alexandria VA real estate agents may well get three different opinions of value:

1. One agent may want the listing at any price and be willing to accept an owner’s requirement for a high asking price just to land the listing.

2. Another agent may be conservative and encourage a low asking price in the hopes of generating superior demand.  This strategy was effective in the boom years of 2006 and 2007.

3. A third agent may combine his knowledge about the property, the neighborhood and today’s real estate market to come up with the optimal listing price.

The Optimal Listing Price

Responsible real estate agents view the property from three postures.

1. First we inspect the property, top to bottom.  We understand its history, the neighborhood, its strengths and its weaknesses.

2. Next, we do our research.  We compile a complete, relevant list of recent sales, a thorough list of Alexandria VA homes for sale on the market and a comparable list of recently concluded Alexandria VA real estate transactions.

3. We balance this information against the cost of new construction.  We factor in what improvements might be necessary to stage the home more effectively.  And, we use this quantitative analysis, called a comparative market analysis, to recommend a strong selling price designed to garner demand.

This is not a whimsical exercise.  This is about establishing the maximum selling price your Alexandria VA home for sale should achieve.

To further discuss how you can realize the greatest real estate value for your home, contact me today at 703-909-3939 or by email at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Creating a home for your family, from the ground up, can be an exciting experience.  But with the numerous steps involved in buying Fairfax County Virginia real estate, building a home, and the sometimes unexpected setbacks that can plague new construction, it can also be a stressful experience. 

Knowing what potential setbacks lurk ahead can help you come up with a realistic schedule for the building of your home.  Having a good idea of what can go wrong and preparing for the possibility of a setback will help lower your stress and make the process go much smoother.

Following are some of the setbacks commonly experienced in new construction:

• Weather:  Depending on the stage of the home building process you’re in, rain can cause a work stoppage.  If you’re building your home during a time of year when there’s typically a lot of rainfall, you’ll probably have setbacks, especially if you’re just starting the building process during this time.
• Building permits:  If numerous permits are required prior to building on your Fairfax County Virginia real estate, there may be a delay.  Permits can involve a lot of paperwork and time.  Also, agencies which issue permits may not move as quickly as builders and homeowners would prefer.
• Reworks:  Most people building a home visit the building site frequently to keep an eye on work in progress and make sure that what they’ve asked for is being done.  Even when you take this precaution, there are times when things will be done incorrectly.  This will slow down work because the incorrect item will need to be removed, reordered (in most cases) and then reinstalled.

These are just a few of the things which can get a home building schedule out of whack. 

To take some of the pressure off you, hire a professional Fairfax County Virginia real estate agent who has experience working with new construction.  An agent can keep tabs on the building progress and make sure the work schedule stays as close to the original timeline as possible and follows the new home construction checklist.  

If you’re interested in having a new home built, I can guide you through the process and make sure you get exactly what you want.  Give me a call before you go builder or home hunting at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com  
Steve@HomeSearchWebsite.com 
703-909-3939

When you first decide to look at Alexandria VA homes for sale, whether you are a first time buyer, or you currently own your own home, it is an exciting experience. Visions of perfection begin to dance in your head. Grand expectations and all of your fondest dreams begin to spring into being. But how do you balance dreams with reality so that you get what you need and maybe some of what you dream of?

Condition Counts

You can get great deals on amazing homes when they need a little repair. However, that is a big trap if you don’t take into consideration how adept you are with a hammer and nails. If home repair isn’t up your alley, that’s not a sin.  But, it is unwise to buy a fixer-upper if you’re not into fixing or not financially prepared to hire professionals to do the fixing.

Wide Open Spaces

Rural living or huge parcels of property can be very appealing. The desire to own a big spread with rolling lawns can make you feel like a real land baron—until you have to maintain it. There are other aspects to looking at property removed from the hustle and bustle of the big city. Lack of convenience that might seem like a good thing will soon become just inconvenient. Consider the trade-offs if your idea of a perfect Alexandria VA home for sale isn’t exactly in the city.

Don’t Settle

While you need to be realistic if your budget isn’t unlimited, you should not settle for less than what you truly need. Take the time to determine exactly which features are most important to your family. Consider:

• Which rooms will be most used
• How many people will be living in the house
• How many bedrooms you need
• How many bathrooms are necessary

Don’t try to squeeze into something that won’t fit those needs. If you have to wait a little while until you can afford a home that is the right size, it will be worth it to avoid the frustration of being dissatisfied with something as important as your home.

If you would like more information on what to consider before buying one of the Alexandria VA homes for sale, I can help. Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

I know the words “short sale” may scare you.  But please take just a minute to learn why short sales have become a viable option for your Fairfax County Virginia real estate if you’re considering foreclosure.

Once deemed difficult to get, hard to close and rough on the credit score, corrective measures have been taken to improve the valued short sale.  And, the winners are those who understand how short sales work in Fairfax County Virginia real estate.

If you are faced with a house underwater or considering foreclosure or a short sale option, please understand the game has changed.

Short Sales Before versus Now

In early 2009, the typical short sale had less than a 50% chance of success.  Banks were skeptical, unprepared and unwilling to accept losses.  No longer!

Thanks to aggressive changes made by the Federal Government, the short sale has become the preferred option for distressed buyers, sellers and lenders.

• The administration has thrown incentives to first mortgage holders, second mortgage holders and new lenders.
• Primary lien holders in who agree to a short sale can receive as much as $3,000 from the government.
• Secondary lien holders, who previously were often asked to step away empty handed, now can receive up to $6,000 for formal releases.

Additionally, there used to be more serious credit devastation for the short sale seller.  In some cases, outright releases were not provided.  The administration has stepped in to protect these distressed sellers.  Today’s short sale has less credit impact on the seller as would the credit impact of a foreclosure.

Now that short sales are a viable option, the market has exploded.  Short sales increased by 4% between November, 2009, and February, 2010.  Activity will only continue to increase.

If you would like to find out whether a short sale could benefit your distressed Fairfax County Virginia real estate, give me a call now at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

Whether you’re looking for an investment property or a home for your family, a foreclosure might be a good deal for you. However, buying a foreclosure is different from buying a home from a seller and requires different considerations.

Before you sign a contract, consider what you should and should not do when buying one of the foreclosures in Fairfax County VA.

• DO consider the cost of repairs. Foreclosures are sold “as is.” That means the bank will not make any repairs to the foreclosure in Fairfax County VA before closing, so you will be responsible for them. For example, if the home needs a new roof, make sure you have enough money to pay for it.

• DO get a home inspection. In a traditional home sale, the seller is required to tell you about any defects or problems they’ve had with the home. However, a bank does not have to supply a disclosure statement because they have not lived in the house and do not have any information about defects.  Make sure you hire a professional home inspector to check the structural integrity and condition of the home.

• DO be prepared to wait. Buying a foreclosure usually takes longer than buying through a traditional sale. You will have to look through and sign stacks of paperwork. In some states, banks are required to go through the court system to sell a foreclosure which can take time.

• DON’T buy a home just because the price is low. Banks like to sell their foreclosures as close to market value as possible. If the price is exceptionally low, there’s a reason why. Make sure you know it. Home repairs can easily add up, turning what you thought was a bargain into a money trap.

• DON’T expect to flip the home for a quick profit. Despite what the get-rich-quick-buying-foreclosures crowd tells you, foreclosures don’t automatically mean you’re getting a steal, nor can you always quickly sell them. Buy a foreclosure because it’s an affordable home for you and your family, not as a way to build an overnight fortune.

When you take your time and do your homework, buying a foreclosure in Fairfax County VA can be a great bargain.  I can help you find well-priced foreclosures.  Call me today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939

So, you’ve decided you want to sell your house.  You know it qualifies as one of those “ugly houses,” but you don’t want to do any work to your home.  You especially don’t want to do major repairs or updates like replacing all the windows with broken seals.   

You may think that means real estate agents will not want to list your home for sale.  Think again.  Fairfax County Virginia real estate agents sell ugly houses, too!

Here’s what you should expect if you have an ugly house that you don’t want to make improvements to:

• A lower price:  Maybe you don’t have the time, energy, money or know how to make improvements to your home.  That doesn’t mean it won’t sell, it just means the price has to be low enough to convince a buyer that it’s worth the time and money they’ll have to spend to get it into shape.  An experienced Fairfax County Virginia real estate agent can do the necessary research to come up with the right price to get your home sold.
• A smaller number of potential buyers:  In today’s market, most homebuyers are looking for that perfect home.  The one they can move in to without doing any work.  Since your home doesn’t fit that description, you’ll lose those homebuyers.   Typically, homes like this will sell to Fairfax County Virginia real estate investors or buyers who enjoy fixing up houses. 
• A longer time on the market:  Because of the smaller number of potential buyers, it may take a bit longer to sell your home.  Because of the lower price, you’ll probably have several lookers, but getting someone to purchase it will most likely take longer than normal.

Don’t say you’re going to sell your house someday, when you get all the repairs and upgrades completed, if you know in your heart that isn’t reality.  Sometimes it’s worth taking a lower price and moving on. 

Whether your home is gorgeous, ugly or somewhere in between, I can help you get it sold.  Give me a call today at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.

Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939