Lake Ridge VA Real Estate News

Two weeks ago, I received a call from frustrated homeowners who were attempting to sell their home For Sale By Owner.  They were successful in getting a few people to visit the home from a Craigslist posting they did and that resulted in a home buyer making an offer on their home. However, on the way to settlement, they got a call and the buyer wanted out of the contract. Because the homeowners did not have the skill and the tools to hold that buyer in place they not only lost time on the market they lost the contract deposit as well. I'm sure you can imagine their frustration.

"What all sellers need to realize is. Getting someone to make an offer on your home is not the hard part. Ask any Realtor and they will tell you keeping that offer glued together and moving forward and getting the purchasers to closing is the hard part! Realtors have the tools and the skills to get the job done!"

How did the homeowners find me?They found me on the Internet by looking for someone who could sell their home fast in the Woodbridge Virginia area. When they landed on my real estate blog and read about me and our successful sales in the area, they called me. When I arrive at their home, they said " Thank you for coming over. Actually we feel like we know you already,I love your blog."

I sat down with them and showed them how  we market homes and what strategy we would use to sell their home. I explainedErick's and my goal is not to just get you one offer, our goal is to get you several offers to choose from. You may being asking, how can we do that? Erick and Company has systems in place to do a media blitz of your home. Within twenty four hours of listing your home we can have your marketing plan completed and in place. After seeing that they agreed to list the home and the next day February 15th,2010 I took photo's.  I worked for hours on a marketing plan, created a personal webpage for the home and I published two different blog posts about the home 12496 Sulky Ct in Lake Ridge VA Is For Sale and this one .  Are You Looking For A Single Family Home In Lake Ridge VA Under $350,000?. Uploaded the home into the Multiple Listing Service as well as mutilpe real estate websites.  The marketing was in place, now we wait.

"The result in in less than 10 days that home is now Under Contract!"

The seller had more than fifteen Realtors with buyers cross the threshold in the first five days and that produced two ready and willing pre-approved buyers who wanted the home!

                          Do you need help selling your home?

Call or Contact Peggy James- Realtor® - Exit 1st Choice Realty ...                             Contact Peggy Now       Visit Our Website: www.erickandcompany.com Erick And Company 14029 Crossing Place, Woodbridge, VA 22192 My Direct #(703) 851-3085 or Office # (703)590-2252 Get directions  Write a review More information »

If I told you that 83 Single Family Homes Sold and Settled in Lake Ridge Virginia over the winter months would that surprise you?  Well they did, and I am not one who is surprised! Most homeowners do not even think about selling a home until they experience a lifestyle change. That can be anything from PCS Orders, to a new baby, loss of a job, or you've just had enough of this winter weather and it is time to move South.

So what does this information mean to you and your family? Well below is a Market Snapshot of Lake Ridge Single Family Sales and Successful Closings between September 2009 and February 2010. Learn about homes For Sale, Under Contract and what they Sold for.

 Current Market Snapshot of Lake Ridge Virginia Single Family Homes Sales in the past six months.

"It is time to learn the facts about your local Lake Ridge Virginia Real Estate Market. It is a fantastic time to sell your home." If you have owned your home for seven years of more, chances are very good that you can sell your home and begin that new chapter in life that you've been dreaming of. Have you been dreaming of downsizing, relocating to a new area, or maybe you are ready to move-up to a larger home. Erick and I can help you sell your home fast.  Even if your home is upside down, refinancing is not an option, and you think you need to sell by Short Sale.  I have help many homeowners successfully get short sale approval from their bank. Final Note: Most home that are priced under $350,000 are experiencing multiple offer situations in our area.  Imagine that. So forget you've heard. I hear to tell you. The market not good, it is great for sellers!

Do you have a question? Just ask. Call me direct at 703-851-3085 or  contact me by email . 

Curious What Your Home Would Sell For?

Tell Me About Your Home ( Fill In This Form), I Will Prepare A Personalized Snapshot For You.

Or call me direct at 703-851-3085 or  contact me by email . Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,  Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's. 

Learn what homes are currently For Sale, Under Contract as well as what homes have SOLD for in between September 2009 and February 2010. You might be surprised to know that  twenty four homeowners have SOLD their homes in the Winter Months. Now let me share the great news!  The average home in Westridge goes under contract in less than 30 days. If you have a larger single family home in Westridge priced about $500,000 chances are it could take as long as forty days.

"So forget what you hear about how bad the market is. The  Real Estate Market is not BAD...it is Fantastic For Sellers!" If you have owned your home for seven years of more, chances are very good that you can sell your home and begin that new chapter in life that you've been dreaming of. Have you been dreaming of downsizing, relocating to a new area, or maybe you are ready to move-up to a larger home. I can help you do that.  Learn what's happening in your neighborhood.

Current Market Snapshot- Westridge Subdivision Resale Activity Over The Past Six Months.

 Do you have a question? Just ask. Call me direct at 703-851-3085 or  contact me by email . 

Curious What Your Home Would Sell For?

Tell Me About Your Home ( Fill In This Form), I Will Prepare A Personalized Snapshot For You.

Or call me direct at 703-851-3085 or  contact me by email . Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,  Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's. 

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   Who has had it with all this snow and bad weather? Is is time to consider relocating to a warmer climate?

Spring market is just around the corner. Let's talk...

• Search Homes For Sale In Myrtle Beach
• Search Homes For Sale In Austin Texas
• Search Homes For Sale In Sarasota Flordia
• Search Homes For Sale In San Diego California
• Search Homes For Sale In The Flordia Keys

 Give me a call, let's talk about your options. 

 What are you waiting for?  Spring Market Is Almost Here. Let's Turn That Dream Into A Reality!

Reach me direct at 703-851-3085 or  contact me by email . 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,  Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's. 

Over the weekend I showed homes to a couple who were considering a move-up purchase here in Prince William County Virginia. They were going to rent their current home, so they are ready, willing and able buyers! So I took them out to take a look at the homes that are currently on the market and in their price range.

One of the homes on the list was of particular interest to my buyer client since it appeared to have everything they wanted. The only issue was, it was priced significantly higher than the competition and it has been on the market for months. The first question they had was why? One step inside the door and we learned why: 

• The seller insisted on giving all us a guided tour. Sellers please remember, what is important to you may not be important to the buyer. He was over the top, boasting about all the features of his home. 
• The rooms were dated, dark, and the interior of this twenty year old home still had original fixtures and lighting.My client obviously did not like the house, however non of us wanted to be rude to the homeowner. So we listened as we walked the house with him.
• As we were trying to leave and were making small talk about utilities and the cost of running the home. The seller says, oh we don't concern ourselves with those costs to much, we make sure we are warm and cool in the summer. "We live comfortably, since we do not have a  mortgage."
•        So not only did we not get a good answer regarding the true costs of running the home
•           You can bet if my clients liked the home the offer would be a LOW BALL OFFER!

If you are considering Selling Your Home in 2010, call me, let me help you. The last thing you want to do in this market is leave thousands on the table because you are not positioned well in the market and you sit and sit and then have to deal with all the buyers concerns that something is wrong with the house. Or you say something that will be costly in negotiations.

Learn how we can Sell Your Home Fast and For Top Dollar.

It would be my pleasure to help you pull out as much equity as possible. That's my job!

 Do you need help ?  Call 703-851-3085 or contact me by email if you need assistance.   

Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office).If you are a homeowner who has a home to sell, we have  buyers ready and waiting for nice homes to come on the market. Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's . 
                                  
                         

Erick and Company Has Pre-approved Home Buyers Waiting For Homes In Lake Ridge Virginia.

I recently wrote a post about this exact subject a few weeks ago. Read more and view stats.

 Check out what is currently available today.. CLICK HERE

Curious What Your Home Is Worth?  Call me 703-851-3085 or or contact me by email .

Erick and Company services Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's . Note: if you need help selling your home by short sale we can help.
                                
                              

It was back in September that I got a call. The caller said " Peggy, I was reading that you help people who might need to sell by short sale in the Woodbridge  VA area.We live in Lake Ridge and  my husband is returning from Iraq . He has accepted a job in another state. Can you sell our home?"

" I asked..."Do you have orders?" 

She said "No he is not active duty. Is there help for veterans? Are there any programs that we fit into to short sell our home? The only job offer he got is in another state. He has to take it, we need the income to survive and pay bills."

Folks I want you to make a mental note. The family did not have any hardship up to this point. However once the wheels of a relocation were put into motion. That meant the caller would loose her good paying job and the townhome they owned in the Lake Ridge Virginia although very nice and in great condition was purchased at the height of the market! This is when everything began to fold like a house of cards.

Now the bad news: several foreclosures had recently settled in and around their home. We could get the home rented quickly however, the fair market rent was $550.00 less than the fixed rate monthly mortgage payment. They did not have that kind of money.They could sell home for sure, it was in very good condition and according to the current market conditions. I felt certain I could get it sold for in the somewhere in the $189,900 price range. However that is far less than what they owed the mortgage company. They owed $287,000!

The sad part is these homeowners did everything right. They bought a home with a fixed rate VA Loan, updated and cared for the home during the time they owned it. Now in today's current real estate climate the house is upside down by almost $100,000.

The only option was a Short Sale.  I showed the owners proof example after example of other homeownersI've help complete a successful short sale. I shared with them that back in the old days back in 1989-2003 in the last downturn in our market, I assisted many homeowners by doing VA Compromise Short Sales. This program has been in existence for a long time. That VA Funding you pay up front when you buy, helps VA offer this program. What is new is the degree of the losses! They are catastrophic. Back then Veterans were forced into signing a Promissory Note and if they didn't do that, they needed to come to the settlement table with a check for the short fall if they had purchased the home before 1989! The  highest check I ever saw was $26,300 written to the settlement attorney to sell the house.

The good news is we  listed the home for sale and soon a buyer made a good solid offer on their home and the Sellers accepted the offer and then I got to work! It took their mortgage company five long months to Approve the VA Compromise Sale, however the sellers nightmare is over!

Best news:

• The owners did not have to sign a Promissory Note!
• The owners did not owe anything on Settlement Day!
• The owners have relocated and they get to start a whole new chapter in life!

There is a down side to considering selling by short sale for a veteran. Seller's please take note:

 Entitlement - Should VA agree to pay the difference between the sales proceeds and

the total debt to complete the compromise sale process, the portion of the

homeowner's entitlement used to guaranty this loan will remain tied up until VA is

reimbursed in full.

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If you have any questions about the VA Compromise Program and how it can help you and your family, please don't hesitate to call me. Here is the basic factors that must be considered for you to be able to submit for VA Compromise Sale/ Short Sale.

• The property must be sold for fair market value.
• The closing costs must be reasonable and customary.
• The compromise sale must be less costly for the Government than foreclosure.
• There must be a financial hardship on the part of the seller.
• On loans that originated on or before December 31, 1989, the seller must be willing to sign a promissory note.
• There must be no second liens or other liens(unless the amount is insignificant). In situations whereby there are second liens or other liens, the seller can request that the lien holder consider releasing the lien and converting the loan to a personal loan.
• The seller must first obtain a sales contract in order to be considered for the program.
• To protect the seller's interest, the seller should make the sales contract contingent and/or subject to the approval of a VA compromise sale.

  If you have a VA Loan on your home and you need to sell, give me a call. I can help!

         Curious What Your Home Is Worth?  Call me 703-851-3085 or or contact me by email .

Erick and Company services Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's . Note: there is a shortage of homes for sale in Prince William County VA. Now is the time to sell.

I've got a secret for any homeowner in the Woodbridge Virginia area who is reading this...

Prince William County Virginia is heading into a raging sellers market come spring. We need inventory to sell! Buyers are growing frustrated from the lack of inventory. I had two call yesterday saying " how come there are not very many houses for sale right now? My answer everything is Under Conract. So my advice if you are thinkng of buying a home. Get preapproved now and be ready to jump in the car when a home comes on the market that you like.

 Take a look at what Trulia.com data is showing: 

Follow Peggy James on Trulia.com

If you are thinking of Selling or moving up to a larger home,there has never been a better time in the past three years than right now. Learn why Winter is the best time to sell your home for top dollar. Call me today to see what your options are. Don't forget if you are selling your home and buying another home you Smay be eligible for the $6500 Move Up Buyer Tax Creidt. What could you do with an extra $6500 in 2010?  

         Curious What Your Home Is Worth?  Call me 703-851-3085 or or contact me by email .

Erick and Company services Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's . Note: if you need help selling your home by short sale we can help.
                                
                              

Several homeowners in the area have entrusted Erick and Company of Woodbridge Virginia to help them sell their homes by Short Sale. Here is an update on "How The Short Sale Process works for real people who need to sell and who have a legitimate hardship!"

Currently We Have Three Listings Under Contract:

Under Contract: Bombay Ct, Lake Ridge Virginia. Listed for $239,900  Multiple Bids In 5 Days Owner and offer accepted by owner as well as back up offer in place is for way more than List Price! 

12/9/09 Package was submitted to SunTrust Bank

12/15/09 I'm sorry can you back after the New Year, right now were a bit overwhelmed

01/09/09 Package has been assigned to a processor -this is the person who dots all the I's and T's.

Note:BPO was just completed because a person left a note on the door, took photo's etc. This is a good sign

Next Step: SunTrust will require updated information from the seller, and go through a checklist of questions they have to get the package ready for approval by investors.

                                                  ***********************************

Under Contract- 11289 Edgemoor Ct,Woodbridge VA 22192. Erick and Company listed this home at the end of August. Under Contract within one week of listing. This is a one loan short sale with Midfirst Bank out of Oklahoma. The owner used his VA Loan to purchase the home.

It took 98 Days to get this Short Sale Approved. However the first buyer walked away right before we got approval. Erick and Company had a second Realtor who had a buyer in the back-up position. This is why it is worth being the back-up buyer on the home you really want.

1/9/09-Pending Settlement by 1/15/09

                                                   **************************************

Under Contract- 14928 Amaranth Ct, Woodbridge VA 22192, Home Is Under Contract for more than List Price.

With a Back Up offer is in place already!

This home is located in Winding Creek Subdivision Owners have two loans one with Bank of America and the other with Wells Fargo. Home went under contract within a week of listing. We have submitted the short sale package to the Banks. We are pending having a Loss Specialist Assigned to the file.

                                                     ***********************************

So it you are worried that your home might not sell by Short Sale quess again! Not only can we get it sold by short sale chances are your credit will be less damage and you will avoid a foreclosure. To learn more about what we do, who can sell by short sale, and how the process works visit us at ErickSellsHomes 

 Bottom Line...if you need help just call me. Let's see what options you have. Maybe you won't have to sell, however you won't know that until you talk with someone. Here's what I do know. Doing nothing is not an option.     

         Curious What Your Home Is Worth?  Call me 703-851-3085 or or contact me by email .

Erick and Company services Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's . Note: if you need help selling your home by short sale we can help.
                                
                              

I was recently approached by a local homeowner who lives in Westridge Subdivision. He was toying with the idea of selling his home, however  he was under the impression the market was horrible. He said "I  dread putting my  home on the market For Sale, keeping a lockbox on forever and just the pain of having people come and go for weeks. Peggy,I have to mentally prepare myself."

I said," Oh boy do I have good news for you!"

The real estate market has been moving at a steady pace here in the Lake Ridge Virginia area. Westridge Subdivision is a very sought after community and one where detached homes tend to sell faster, than in local communities. It could be the fact the community has it's own elementary school, or five miles of running trails, or an awesome swim team however I believe it has a lot to do with location and lifestyle that Westridge offers. I suggested he take a look at my LakeRidgeVARealEstateNews Blog and sign up to receive an RSS Feed to keep up with what happening in and around the Lake Ridge Virginia area.Take a look at a post I wrote about Westridge some time ago.

I explained to him, that the average home in Westridge is selling in less than 40 days when priced at a Fair Market Price and that the average sales price is about $465,000 for a single family home. Of course he had one of the larger homes, and I said, just know that one of the custom homes on Tilney Ct just sold for $615,000!  He said, gosh thanks...I had no idea. I thought it was a horrible time to sell.

        Don't be shy, if your curious what your home would sell for. Give me a call at 703-851-3085.

 
 Detached Homes Sold and Settled 
Westridge Subdivision
Here are the statistic's for 2008 versus 2009

The main difference between 2008 and 2009 is the days it takes to sell a home. Inventory is low and that means if you are thinking of selling, now is the time to command the best price! We call that The Winter Advantage. While others are still packing up the holiday decor, you can get your home on the market and under contract, before the traditional spring market starts, Spring Market traditionally starts around March 15th and last through the end of June.

Regarding the townhome activity. There were approximately fourty townhomes that have sold in each calendar year. The average list price from 2008 to 2009 dropped 3.1%, so that is not great news, however townhomes are selling quickly within 24 days on average in 2009, compared to 45 days on average in 2008. Also, good news for sellers is the  Seller Contributions towards a buyers closing costs has dropped several thousands  of dollars compared to 2008 settled statistic's! So it's not all bad. 2010 should be a great year if you need to sell your home.

         * note anything with a star after the sales price is a short sale-call me for more information.

Do you have questions about the market conditions in your community?  Just give us a call, all of us at Erick and Company have  been serving Woodbridge Virginia Home Buyers and Sellers for decades. Call 703-5851-3085  or contact me by email  if you need assistance.  

Contact Peggy James or Erick Blackwelder  of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office).If you are a homeowner who has a home to sell, we have  buyers ready and waiting for nice homes to come on the market. Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service  Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's .