Fairfax County VA Home Search Website Blog

Sellers are quick to blame their real estate agents if their Alexandria VA homes are slow to sell, but that can be an unfair assumption.  Here are four reasons for a slow sale that have nothing to do with your real estate agent:

Reason #1:  Your neighborhood has seen better days.
There are many signs that a neighborhood is in decline. Examine yours to determine if this could be one of the reasons why your home isn’t selling. Here are a few signs to look out for: local businesses going out of business, schools deteriorating, major traffic jams or a multitude of foreclosures or short sales. What can you do to get your home sold if your neighborhood is in decline? Work with your real estate agent to set the price of your home based on the neighborhood’s current market value.

Reason #2:  Your home is located in an area of high unemployment.
When businesses close or down-size, it impacts more than those who have lost their jobs; it effects the value of homes in the area as well.  It also makes it difficult to attract buyers to the area because most people want to live where there are more employment opportunities.

Reason #3:  You have an unrealistic idea of what your home is worth.
Regardless of what you might think, a real estate agent is not going to price your Alexandria VA home at bottom dollar just to get a sale.  This type of strategy doesn’t help anyone including your agent.   Do your homework on what comparable homes in your neighborhood are selling for, and listen to your agent’s pricing advice – you’re paying for his or her expertise!

Reason #4:  We are in a recession and banks are less willing to lend.
Banks have much tighter lending requirements and people have less money to spend.  That means buyers must have higher credit scores and larger down payments to qualify for a home loan.

The fact is that in the current market homes take longer to sell.  So, before you decide to replace your agent, be fair in assessing their job performance. And, don’t blame your real estate agent for the slow market.

Thinking of selling your Alexandria VA home? I’d be happy to do a free comparative analysis of the current value of your home. Give me a call today at 703-909-3939 or send me an email at Steve@HomeSearchWebsite.com.

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

Flyers, open houses and stagnant real estate web sites don’t cut it anymore. Property buyers and sellers are more technologically savvy than they’ve ever been, and they rely on social media’s instant communication forums for information, advice, suggestions, and reviews to guide their decision-making processes.

Real estate agents’ roles within the industry have evolved — they’re no longer just gatekeepers.  Now, they need to be interpreters between their clients and the constant stream of social media information.

To determine if a Fairfax County Virginia real estate agent is socially savvy online, ask the following questions:

• Strategy – Before signing a listing agreement with an agent, find out what marketing strategies he or she usually implements. Is he or she using any social media platforms to promote their properties or gather feedback from buyers?
• Following – Ask about how many people and organizations he or she reaches on a regular basis. The number of Facebook “Likes” or Twitter followers is a direct correlation to how many people could be exposed to your home for sale.
• Activity – Ask how often he or she updates and posts on social media sites. Having 2,000 followers does nothing if the agent isn’t active on the social media site. A constant flow of information and communication is essential to effectively promote a property. If he or she just has a stagnant Facebook page with a biography on it, that doesn’t benefit you in any way.

From sending out tweets about houses for sale to posting new listings on Facebook walls, social media platforms are one of the quickest and most targeted ways to reach potential buyers. To achieve your real estate goals, seek out a Fairfax County Virginia real estate agent who uses social media as a tool to build loyal followers and promote properties.

If you’re looking for one of the Fairfax County Virginia real estate agents who successfully uses social media as a marketing tool, call me 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 to buy or sell Fairfax County Virginia real estate, you’re going to need help from a certified professional. So which do you choose — a REALTOR®, real estate agent or broker? Most people don’t even know that there’s a difference between the three and use them interchangeably.

While these three titles are similar, they are not identical. Depending on your knowledge of the real estate industry and the complexity of your transaction, you’ll want a professional with correlating education, expertise and experience. Below are title descriptions to help you get your terms straight and pick the right professional when it comes to buying or selling Fairfax County Virginia real estate.

Real Estate Agent
A real estate agent is someone who is licensed to sell real estate. They must be employed by a broker and cannot work independently. They are a good choice if you know how the real estate process works and have a straightforward sale or purchase.

Broker
A real estate broker has completed more education than an agent, which entitles them to open their own brokerage firm and employ real estate agents. They have a better knowledge of real estate laws and might be the right choice if you are dealing with a property that calls for complicated paperwork and legal red tape.

REALTOR®
REALTORS® are real estate agents and brokers that belong to the National Association of REALTORS® and adhere to a 17-article code of ethics. They must also keep up to date with industry changes by completing continuing education requirements every four years.

Now that you have your potential real estate professional’s title terms straight, you’ll be able to do your research, understand their credentials and interview them accordingly. This is key in helping you determine which professional suits your buying or selling needs.

If you’re interested in learning more about the Fairfax County Virginia real estate market, 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

Just because you are not in the position to get a home loan right now doesn’t mean you’re out of the housing market.  Here are three ways to obtain by one of the Alexandria VA homes for sale now without immediately getting a loan:

1.   Option to Purchase
An option to purchase is just that – you pay an option fee for the right to purchase the Alexandria VA home for sale at a later date (usually 1 to 3 years) at a predetermined price. There is no rental agreement with this option.

This can be used if you are expecting to be able to qualify for a home loan at a future date.  You are not obligated to exercise the option if you change your mind; however, the option fee is not usually refundable.

One of the benefits of an option to purchase is that you may sell the option to someone else if you choose.  This is a way to recoup your option money should you change your mind or if you are unable to purchase.

2.  Lease with Option to Purchase
This is also called a lease option. It’s generally for a term of 1 to 3 years and includes a rental agreement.

As with the option to purchase, you pay an option fee for the right to purchase the Alexandria VA home for sale at a later date.  In most cases, the option money is not refundable and is generally not applied to the purchase price.

During the option period no one else can buy the home and you cannot assign the option to someone else.  You must exercise your right to purchase before the end of the term or the option is lost.

With a lease option, a portion of the monthly rent goes toward the purchase of the home.  The rent is usually higher than a normal rental for this reason.  You are not obligated to exercise the option if you change your mind.

3.  Lease Purchase
With a lease purchase, you ARE obligated to buy the home so make sure this is what you want to do before signing a Lease Purchase Agreement.  You are generally going to pay market to above market price for the home.

You pay the seller an option fee for the right to later purchase the property. The option money may be substantial. The option fee may be used toward the down payment, but this must be negotiated prior to signing the agreement.

During the term of the option, which is usually about 1 to 3 years, you agree to lease the property from the seller for a predetermined rental amount, at which time you apply for bank financing and pay the seller in full. Just like the lease option, a predetermined amount of the rent is commonly applied to the purchase price.

If you fail to fulfill the Lease Purchase Agreement, you will lose all the money you have paid plus the seller can take you to court to get the balance of the agreement.

With all options, I highly recommend the use of a real estate agent as well as a real estate attorney.  With a lease option or lease purchase you want to do all the things you would do in a traditional sale.  This includes all typical inspections and definitely a title search to make sure the home has no liens or encumbrances.

For more information on how an option works or if it is right for you, give me a call at 703-909-3939 or email Steve@HomeSearchWebsite.com.

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

Investing in real estate is not a get rich quick scheme by any means.  Late night infomercials claim to show you how to retire in months after trying their methods for investing in real estate. Unfortunately, the only one getting rich is them.

But, you can build for your future by investing in the right Fairfax County Virginia real estate and in the right way. Here are five tips to give you some guidance on how to buy that second, third or even fourth piece of real estate as an investment:

1. Shop smart. Look for homes or land in desirable neighborhoods or in up-and-coming neighborhoods.
2. Keep your property. You should not buy Fairfax County Virginia real estate for the purpose of flipping it.  That was a short-lived fad that ended up costing many people thousands of dollars and more.  Instead, buy real estate with the intent of holding on to it.
3. Buy rental property. Rental property can be a great way to add to your income and give you the means to do things you might not have been able to do on your current income.  It is also a great way to set your children up for the future by giving them their first home. You don’t want to be a slumlord so be prepared to invest some time and money into the upkeep of your Fairfax County Virginia real estate.
4. Exchange properties without paying capital gains. You don’t have to fear the tax man if you decide you want to get rid of one property for another.   By using a 1031 exchange, you can sell one property and buy another without paying taxes on the first one. This is not something you want to do as a “For Sale By Owner;” you need to use a real estate professional who is skilled in the 1031 exchange.
5. Enjoy your free time. You don’t have to give up all your free time to manage your investment property. There are professional property management companies that can handle some or all of the day-to-day tasks for you. There is a fee for their services but it is often well worth the cost.

For more information on buying investment properties or 1031 exchanges, contact me 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

Across America, the decision to live with roommates in later years is becoming more common as the economy stagnates. According to the Census Bureau, from 2009 to 2010 the number of thirty-somethings living with non-family roommates rose from 10.6 million to 12 million, which is an increase of 13 percent.

If you’re considering sharing a Arlington VA home with others, here are some of the benefits you could reap:

• Lower monthly payments: Whether through divorce, widowhood or empty nest syndrome, many people are left with too much house and way too much mortgage debt. One solution is to invite a compatible friend or two to move in and split that mortgage payment. It will also mean splitting the utility bills: win-win.
• Companionship: Sure, you have friends, but after hanging out with them, it can be a bit lonely to come home to an empty house late at night, if not downright scary. Most people enjoy sharing a meal rather than eating alone.  And if you get sick, it’s really nice to know somebody will be around to check on you and take care of household basics until you get back on your feet.
• Shared responsibilities: This runs the gamut from cooking, cleaning, home maintenance,  yard maintenance… you get the picture. Being the sole proprietor of your Arlington VA home can be very demanding; it can be a real relief to share the chores and decision-making with others.
• Better health: Studies show that loneliness leads to higher rates of anxiety and depression. Even if you don’t feel lonely, psychologists say that having less interaction with others can raise stress hormones and blood pressure. These are measurable physical effects of social isolation.
• The chance to live in a nicer home or neighborhood. When you split the bills, you can afford a nicer place than when you’re on your own. (Remember Golden Girls?)

If you’re looking for one of the Arlington VA homes for sale to share with friends, I can help! Contact me at 703-909-3939 or Steve@HomeSearchWebsite.com.

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

If you’re sitting in your apartment right now thinking: I wish I could paint it, but my lease doesn’t allow it, maybe it’s time to talk to a Fairfax County Virginia real estate agent about purchasing a new home.  Before you rush off to the store to look at paint samples or, more importantly, sign on the dotted line of any mortgages, consider the pros and cons of buying.

Pros

1. Financial Investment: Given the gloomy news on foreclosure rates across the country, it is easy to forget that buying Fairfax County Virginia real estate is also a means of saving and investing.  The money you pay in rent to your landlord goes to your landlord; the money you put toward a mortgage goes toward building equity in your home.
2. Pride of Ownership: By buying a home, you will be able to paint the interior walls any color, renovate to your heart’s content, put nails in the walls and know that it is truly your territory. As a homeowner, you have a level of control over your environment that renters lack.
3. Putting Down Roots: Purchasing Fairfax County Virginia real estate is a commitment to a community, akin to staking a flag in the ground.  You’re not just passing through, if you own your own home.  Most mortgages are 15 to 30 years.  Certainly, you can sell before that time is up, but with closing and moving costs and an uncertain market, the era of flipping houses for fun and profit is at a close. Buying your first home may involve considerations on other long-term decisions such as where you want to raise your children.

Cons

1. Additional Expenses: Even if the mortgage you secure on your home is less than your current rent, home ownership comes with a lot of extra bills.  You may not have considered the cost of yearly real estate taxes, insurance, repairs, and maintenance.  If your water heater dies as a renter, your landlord is required to replace it.  As a homeowner, you’re looking at the time and expense of getting it replaced yourself.
2. Less Flexibility: Rental leases often include provisions for leaving before the termination of the lease.  So, if you’ve decided to accept a job offer in Paris, while you might lose some money in security deposits, you can sever your connection relatively easily. That’s not the case with a mortgage.  You are responsible for the payment on the mortgage whether you live in your home, rent it out while you’re in Paris or leave it vacant. Buying Fairfax County Virginia real estate is a serious, long-term commitment.
3. Less Time: With most apartments, someone else is raking the leaves, shoveling the snow, mowing the lawn, and replacing that broken water heater.  As a homeowner, those duties would fall to you or someone you hire to tend to those issues.

Whether you’re ready to stop renting and buy a home or you need more information before taking the plunge, I can help. 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

With Halloween right around the corner, you’re probably planning costumes, decorating for fall and maybe becoming aware of eerie home happenings that you wouldn’t normally notice. While the prospect of living in a haunted home could be scary to some, the idea of selling spooked Fairfax County Virginia real estate might be even more horrifying!

Rumored ghosts and past suspicious incidents could result in your home being moved from buyers’ purchase lists to their black lists. If you or your neighbors believe your home is haunted, take the following ghost-busting tactics into consideration before you put it on the market.

• Follow the law – If you think your home is haunted, consult with a Fairfax County Virginia real estate agent to ensure you’re following the law. Every state’s legal procedures are different. You could be obligated to notify potential buyers or face legal ramifications down the road — or you may not have to utter a word.
• Squash the rumors – If you don’t think your home is haunted but others do, it falls into the category of stigmatized property, which includes all houses with perceived problems. Talk openly and lightheartedly about the rumored problems, and put an end to scary stories. Also, host a ton of open houses so buyers can experience the home’s aura for themselves.
• Seek out professional haunting help – Believe it or not, some mediums make a living from clearing houses of negative energy, ghosts or whatever you want to call the eerie feeling people get inside your home. If your Fairfax County Virginia real estate agent can tout that you’ve had your home cleansed of negative energy by professionals, you might be one step closer to a closing date.
• Reduce and be rid – You might just have to bite the bullet and reduce the price drastically. The goal is to entice an investor who isn’t planning on actually living in the home, but has other plans for it.

If the cat’s out of the bag about your home for sale being haunted, please call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more ghost-busting information.

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

Halloween is a fun and exciting time, especially for children. To ensure youngsters and your home or condo in Arlington VA make it safely through the festivities this year, follow these Halloween safety tips:

1. Eliminate trip hazards. Remove bikes, toys and garden hoses from your home or condo in Arlington VA front yard and porch. Sweep and rake leaves.
2. Replace burned out lights. Trick-or-treaters have a hard enough time seeing through their masks; don’t increase the danger by keeping them in the dark.
3. Restrain pets. You don’t want your pet to jump on a trick-or-treater, or even worse, bite someone.
4. Use a flashlight or glow stick to illuminate your carved pumpkin. Lit candles are dangerous, especially around small children or crowds of people.
5. Practice candle safety in your condo in Arlington VA. Keep indoor jack-o-lanterns with lit candles, and any decorations with open flames, away from curtains and other furnishings that can easily ignite.
6. Apply makeup as a mask. A loose-fitting mask might restrict breathing or make it difficult to see. Instead, draw on a mask using makeup. If a mask is used, make sure it fits securely and has large eyeholes so the child can see.
7. Choose flame-resistant costumes. Many homes and condos in Arlington VA use lit candles as part of their exterior Halloween decorations. A child’s costume could accidentally brush against the flame. Purchase costumes with flame-resistant labels. If a costume is homemade, spray it with a non-toxic fire retardant.
8. Add a few strips of reflective tape to costumes and treat bags. This helps drivers see the children. It’s also helps to have trick-or-treaters carry flashlights – both to see and be seen.
9. Limit where children go. They should only knock on the doors of homes with a porch light on. Instruct them to never enter a home or a car for a treat. Teach them to stick to well-lit streets, stay on sidewalks and never cut across yards, use alleys or dash between parked cars.

Wishing you and your loved ones a fun and safe Halloween!

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

The change of seasons is always a good time to pay attention to home maintenance. Here are some tips to get your Arlington VA home ready for winter.

• Put away garden hoses and turn off outdoor spigots. If you don’t, the first hard freeze could cause your hoses to burst, or even worse, freeze the water in outdoor pipes. This is a headache you can easily avoid.
• Clean out gutters. After the leaves have fallen is a great time to do it. While you’re at it, consider installing downspout extensions, which are inexpensive and easy to install.
• Pick up all outdoor extension cords and check all cords for potentially dangerous nicks or frayed spots. Store extension cords neatly in the garage or basement. Extension cords are for temporary use only.
• Find those air leaks. To find leaks in Arlington VA homes, turn on all of the exhaust fans in the house (including any kitchen fans that vent outside), and put the clothes dryer on the air dry setting. Then, light an incense stick. Use the smoke to detect drafts around windows, doors, and other gaps so you know where to caulk.
• Check around the furnace. Before you turn it on, make sure no flammables (like paint, turpentine and sealants) are being stored near the furnace. These create a fire hazard. While you’re there, go ahead and change the filter before heating season.
• Clean the filter in the hood of your kitchen range. You can just throw it in the dishwasher, and it’ll be as good as new.
• Check the toilet. Put some food coloring in the toilet tank. If the water in the toilet bowl changes color without flushing, your toilet is leaking and probably needs a new flapper or other seal.

For more handy tips like these for your Arlington VA home, subscribe to my blog. It’s free!

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