Lake Ridge Virginia Real Estate Help For Sellers and Buyers: July 2008

So many people ask me is now a good time to buy? What's the best priced home you've seen lately?

The Answer-32% of Current Tax Assesment. Where? The Marumsco Area.

Right now in the low priced detached homes and town-homes in the 22191 zip code there are many homes priced 50% or below tax assessment. Many of these homes are great for investors who can use conventional financing or cash. If you or someone you know is looking to pick up a little investment property  now is the time to strike. These homes are at give-a-way prices! 

If you are looking for Handyman Fixer Upper, the Perfect Storm created by the Mortgage Meltdown has delivered you a smorgasbord of homes to choose from.

What type of buyer are you? If you are a picky buyer with a long list of items you WANT, finding a pristine Bank Owned home is like finding a needle in a haystack. And if you are lucky enough to see a great house, be ready to put in your best offer immediately.

This weekend I was house hunting with a couple who have their sites on moving to Lake Ridge. They are looking for a town home .Prefer an end unit, however would consider an interior if it had a fireplace, three bedrooms and a fenced back yard.

Let me tell you, this was a challenge. So many of the homes we were hoping to look at had multiple offers, many of the listings said, Offers Pending in the comment section and one said  "No More Offers The Bank Is Reviewing 5 ". So those printouts went in the trash and we headed out to see the others. Some had just been listed that day and  others had been on the market a week or more. Let me just say it's tough out there...Listing Agents are only posting one photo and very few comments.  This means  Realtors we are going blind into dark, hot, homes with very little information. That's why it's key to work with someone who knows the area. We've learned to carry flashlights even in daylight. We never know what we're going to facewhen we open that front door. Let me just say....we saw some trashed houses. I mean Bad.

• Extensive Wood Rot
• Deplorable Condition Inside
• Overpriced
• Extensive Water Damage and Mold growing up the walls
• Missing Fixtures and Appliances

My clients asked. Do Banks really think this home is going to sell? Banks are not here, they get these properties, farm them out to a few agents and these agents just change the locks, throw a sign and lock box on the door, place the listing in  MLS and hope for the best. They are SOLD strictly "as is". Now just maybe, after being on the market for months, the Bank might get wise and start to make some repairs. However it will not be to the level you would. My suggestion if you like the house, have vision and the bank account to be able to restore the home to something wonderful, then put in your BEST OFFER.

But then again we saw  a few diamonds in the rough. Most of the homes we viewed  were in fairly good shape. All that was needed were a few light fixtures, and some paint.  A mere few thousand dollars could make the home a showplace again.

I make it a point to see as many homes in the Lake Ridge area as possible. I can save you lots of time and aggravation. So don't be shy, tell me what your looking for and if  I haven't seen it, I will find will do everything in my power to find you the home of your dreams.