Northern Virginia Real Estate Market Update – April 2012

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This is one of the best times in the real estate market – as the days get longer and things get warmer, more and more people are motivated to sell their homes while at the same time others are excited about finding the perfect dream home.  What is happening in today’s real estate market?  To get an idea of what you can expect in the coming weeks and months ahead – we have put together some information about our local marketplace.  Whether you are a buyer or a seller now is a great time to get involved and achieve your real estate goals!

Buyers Still Enjoying Record Low Interest Rates

Though we have begun coming up from the super low interest rates of just a few months ago those rates are still at record-setting lows.  What this means for buyers is that they can get into much better homes for the same monthly payment as a smaller one just a few years ago when rates were much higher.  Hovering at around 4%, the cost of a mortgage is one of the greatest benefits and incentives for buyers to buy now.

Home prices also remain very low.  They have come up a bit in the past several months, but like interest rates, they are still lower than they have been in a very long time.  But if you want to find the perfect home, there may be little time as there will be more and more competition as the months go by.

Multiple Offers Provide Sellers More Leverage

For the first time in a while sellers are beginning to see the market shifting in their favor.  Especially during the warmer months and the busiest real estate season of the year, sellers will be receiving multiple offers on their homes.  This is especially true for homes that are priced right, in great condition and presented well.

It is essential to hire the right agent to get the job done so together with your agent you can formulate a game plan and work to achieve your goals.  At a time when buyers are savvier than ever, it becomes vital to price your home effectively.  In fact, we strongly suggest working with us to pull your area’s comparable sales to make sure you know your competition and price your property accordingly.
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As we continue onward, we are expecting the market to show its true colors – something that has been a long time coming after some of the more volatile times we seem to be crossing over.  One of the greatest things we are thankful for is our clients’ trust in us and their referrals.  Than

The Importance of Staging Your Home Office

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A special thanks to Home At Last Decor for participating in this week's blog. Visit their website for more information! www.homeatlastdecor.com

One of the easiest ways to prepare a home for sale is by having it staged by professional home stager or interior decorator. Home staging simply means that you're decorating in a way that will show off the best features of a home. Many sellers don't realize the huge impact that home staging can have on how quickly their home sells and for how much.

One thing you have to realize as the home seller is that staging does not always create an effect that matches the way you would normally live. Instead, the house actually becomes like a product. A home stager will take your home and turn it into a marketable product that buyers want.

In this week's video, I had a professional home stager take over the challenge of staging a home office to present well for buyers. The goal was to make buyers feel like they could move right into the home and utilize the home office area. We wanted it to be inviting, yet functional.

Here are some tips to use when staging a home office, or any area in your home:

- Depersonalize: It's very important to depersonalize your home office and the rest of your home. The main idea is that you want the buyer to see themselves in your home and not be hung up on all of your personal things. This would include removing things like your personal sports team preferences, family photos and even books that refer to your own opinions such as political or religious texts.

- De-clutter: It's very important to de-clutter your home office area by putting up paperwork and other unnecessary items. Remember that you don't want people to look at your home office as a place where work will need to be done. Instead, it should look comfortable and inviting since most people will use it to sit down and pay the household bills, etc. You don't want them to be completely overwhelmed by the amount of paperwork clutter that you have around your working area.

- Artwork: If necessary, you should change the artwork in your home office to fit the theme of an office. In this particular case, the homeowner had a piece of artwork that really wasn't related to a home office. Our home stager changed that out to give it a more soothing, generic theme.

- Under the desk: It's also critical to remove anything that's under the desk. Remember that buyers are going to look everywhere in your home including closets and under your furniture. You want everything to look organized and clean. If you have a lot of stuff under your desk, it takes away from the look of the room plus it makes the space look smaller.

- Polish the desk: Remember to polish furniture throughout the house to give it a clean look. People often forget this simple step, but it can make a big impression.

- Remove dust jackets: Here's a simple tip that you can use in any home. Remove the dust jackets from hardcover books and put them between two elegant looking bookends. You can put them on a coffee table or on your desk. Removing the dust jackets gives the books a dressier look.

- Add a comfortable chair: Even if you have to make a purchase to do so, add a comfortable, elegant chair to your desk. It will be well worth the money, and you can take it with you when you move.

- Add plants: You may want to consider adding a plant to your desk or even the corner of the room. It adds texture and hides cords.

We asked our home stager to give her biggest “no-no” when it comes to showing at home. She said by far that personal items need to be removed so that people won't be focused on their opinion of you, but will be focused on the house itself. Again, this means removing religious or political books, personal pictures and anything else that might give someone an opinion of who you are. Instead, you want them to focus on living in that home.

As always, if you ever have real estate questions, we are here to help! Just give us a call or drop us an email.

Insider Tips on How to Win the Competitive Edge When Buying a Home

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With our all-time low interest rates and prices so low it’s no wonder that buyers are lining up trying to take advantage of the great deals out there right now. But if you are one of those buyers that are finding it tough to deal with the competition, what can you do better to make sure you get the home of your dreams? There are a few things that many buyers, under the guidance of their savvy agents, are doing to stand apart from the rest. Here we’ve shared them with you to make your real estate buying endeavors both fruitful and as seamless as possible!

Be Prepared In Advance and Know What to Expect

Too often when prospective homeowners walk into a new property, they do not take into consideration the all-important fact of how much they can actually afford. It’s one thing to have a ballpark figure in mind but it’s another to have an actual preapproval letter from your bank. Buyers that have a preapproval are taken far more seriously by sellers than the buyers that express an interest in the home but then have to start from square one. 

Know what the market holds when you go to make an offer on a property? Many times a buyer will not have studied the area’s market trends and as a result ends up suffering the consequences. For example, in a strong market where there are good homes at desirable prices, buyers find themselves competing against others in what ends up to be bidding wars. Being prepared in advance and being willing to offer more than the asking price is sometimes what is necessary to get you that dream home. Keep in mind that eventually, the market will experience an upswing so you will see some return on your investment. By focusing on what you are getting now with the best of what the market has to offer, you will end up with a winning transaction.

Adding a Personal Touch To Appeal to Sellers

The transaction of buying or selling a house can be very impersonal at times but it does not have to be that way. One of the best ways that highly successful real estate agents succeed in helping their clients get their dream properties is to add a personal touch – especially when it comes to communication with the sellers. An example is sending a letter introducing the family that is vying for the property, with details about them, why they love the house, or what makes them the perfect fit for the home. When sellers come across this type of thing, it gives them a warm glimpse into the people that could be moving into their home – a home that they are undoubtedly very attached to and would like to see go to only the perfect new owners. Another thing that works well is complimenting the sellers on how they have maintained the home or on other aspects of the house you find very appealing.
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At the end of the day, if the house is meant for you it will likely become yours but not without you and your agent doing the best possible to stand out from the rest. For a customized consultation on how we can help you buy the perfect home, we invite you to visit us soon!