Lake Ridge Virginia Real Estate Help For Sellers and Buyers

This week has been a week brisk and it is only Tuesday!

I meet a young couple in Gainesville to house hunt on Sunday. They had several homes to look at. Three were promising however one really captured their attention. It was a single family home with a two car garage on a nice lot that had just come on the market the day before. The owners had only purchased in 2010 and were selling already for a (break even price!) My recommendation was make a full price offer, ask for some closing costs. The reason is  inventory levels were low. Get the home under your control and let the appraisal process dictate the final sales price. These were first time buyers  who really needed to think about it. Yesterday the buyers said,they wanted to go for it. But wanted to make an offer lower, since the house needed painting and carpets needed to be replaced.

***Sadly, the home they really like and could see themselves living in, went Under Contract just hours before they decided***

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I received a call Saturday evening from a woman who found a home online in Manassas Virginia. I called her right back ( I always do!). You see she had left the PW# on my voice mail so I could do the research before I called her back. In talking with her she said she and her husband have been pre-approved for up to $400,000 and when searching FranklyMLS.com she saw her "Dream Home".  She asked what does it mean when it says the home can only be purchased with an FHA 203K B Plan or Cash. I explained the homes has sustained some kind of damage that lead the listing agent to list as a fixer upper. Their is something that would prevent a buyer from attaining FHA or VA Financing. The FHA 203K B plan is a fixer loan. Well that peaked her interest, since her husband is very handy. I said let's go see it tomorrow before it is gone. It was an appointment only show, so I contacted the listing agent for a time to show.

***Sadly, the listing agent wrote me that the seller has requested no more showings. They had four offers to choose from!***

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I've had four pre-listing appointment since last Thursday.  So their is a silver lining. More and more sellers are learning the current real estate market conditions are very good here in Prince William County Virginia and will be listing soon. This is what I've seen this week.

• A stunning little single family home in Dale City, Virginia ( totally remodeled from top to bottom will be priced under $300,000.
• A two year old single family home in Port Potomac Subdivision between Fort Belvior and Quantico,that boasts three finished levels, two car garage, fenced yard and deck will be priced under $475,000.
• A one level rambler with a large level fenced back yard, two car garage, vaulted ceilings situated on a quiet cul-de-sac lot. This home is located in the heart of Manassas Virginia. This is the perfect downsize home. Main level master bedroom. The home will be under $325,000.
• A single family home in Lake Ridge Virginia. The home is a small starter home on Cotton Mill Drive. Tenants will be moving soon,and the seller is getting ready to list. This home will be priced under $335,000.

If you need help finding a home or you have a home to sell, don't hesitate to give me a call. For those of you looking for a home, I can customize your home search to find exactly what you are looking for. I will set you up in our Home Finder System so you will be alerted every time a home comes on the market in your price range and with the features you want. If you are thinking of selling, find out the value of your home right now.  Simply fill out this form and I will be right back with you with your current home value.

If you would like to know what homes are selling for in your neighborhood. This is a report we can send you to keep you informed. Take a look at the Lake Ridge Virginia sales report

I don't know about you, however I am tired of hearing bad news about the real estate market. So I did a little research for you this morning. Did my blog title surprise you?  Well let me break the numbers down for you. The information below is taken directly from the MRIS database that Realtors use daily to help formulate a value when you are buying or selling a home in the 22192 zip code area.

Currently today September 1st, 2011:

In the 22192 Zip Code area their are 77 Resale Single Family Homes Active For Sale.

The breakdown................

Active Listings For Sale:

• Zero Single Family Homes priced under $200,000 ( that ship has sailed...!)
• 12  Single Family Homes priced between $200,000 and $300,000
• 21 Single Family Homes priced between $300,000 and $400,000
• 24 Single Family Homes priced between $400.000 and $500,000
• 20 Single Family Homes priced over $500,000

Note: there is currently on ONE FORECLOSURE Listings in Lake Ridge Virginia and 11 of the Active Homes for sale in 22192 are being sold as Short Sale Listings.

Under Contract-Pending Settlement:

• 3 Single Family Homes priced under $200,000 ( all are short sale listings)
• 14 Single Family Homes priced between $200,000 and $300,000 ( 9 are short sales)
• 15 Single Family Homes priced between $300,000 and $400,000 ( 7 are short sales)
• 14 Single Family Homes priced between $400,000 and $500,000 ( 5 are short sales)
•  6 Single Family Homes priced over $500,0000  (5 are short sales)

Now looking at the data on the our MRIS Database System, it clearly shows that 171 Single Family Homes went Under Contract and Settled since the beginning of the year.  Now here is the interesting fact.

•  9 Single Family Homes listed as Short Sales have CLOSED!
• 20 Single Family Homes listed as Foreclosure/REO/Bank Owned Homes have CLOSED!

The "Silver Lining!" 83% of Single Family Homes SOLD in Lake Ridge in the past eight months have been healthy sales based on there numbers.  Now that's Good News!

The other glaring fact in these numbers is, if you are considering buying a home and are willing to consider a Short Sale Opportunity...be prepared to wait...and wait...and wait. Banks still have not come up with a system that assist homeowners and real estate agent in getting short sales closed in a timely manor. Average time to close a short sale listings is hovering around four months or longer!

Are you thinking now might be a good time to sell your home?  Simply fill out this form and I will send your own personal market snapshot today.

       "I Know Woodbridge Virginia and surrounding the area's!"

        Have a question?  contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company  of Exit 1st Choice Realty, WoodbridgeVA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).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, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's.

All I can say is "it's about time!"

It is difficult to gage what the real estate market is doing,when you listen to mainstream media or talk to a neighbor who bought in the height of the market.

In reality the real estate market is good and getting better everyday.It is not all doom and gloom like the media and the government would like you to believe.

Join me in saying "It's About Time!"

I wrote a post that our real estate team has seen many more move-up buyers in Prince William County Virginia this year. Just this past month we assisted several buyers and sellers close on their dream homes. With low interest rates, low home prices and low inventory, many homes are selling faster this year. It's all good read more here

Don't take my word for it, I went searching Online to see if other Realtors across the country are experiencing the same thing and guess what "it appears the  Real Estate Recovery is happening all across America as we head into the third quarter of  2011!

 Lance Owens of Kona Real Estate is reporting The Big Island in Hawaii is doing amazing in 2011 Read More

Southern Living is reporting the best comeback neighborhoods read more here on Debe Maxwells Blog Let's Talk Charlotte read more here

Marjorie Taylor of Watson Real Estate Group in Saint Augustine Florida shares that homes prices are up over last year read more

Julie Moorehead of Edina Realty in Buffalo MN is reporting good news and that a balanced market is on the horizon, read more

Evelyn Kennedy in Alameda California is reporting that condo sales are up from a year ago.( WOW!) read more

Lee and Pamela St Peter of Prudential YSU Realty in Releigh North Carolina are reporting that Raleigh North Carolina has been voted one of the Healthiest Housing Markets in the Nation for 2011  read more

Brian Robertson of  Saratoga California ( you learn something new everyday, I didn't know their was a place called Saratoga California!) is reporting that the booming high tech industry is helping hold the market steady at a current 8% price jump. Let's hope it holds! Read More

Joan Cox in Denver Colorado shares that the luxury home market continues to show improvement in 2011. Now that's good news. Read more

Ginny Gorman of North Kingstown RI, shares with here readers that all those new homes going up keep the subcontractors employed. The more homes that the sell, less jobs are lost. Read More

Sherri Wellborne of Murfreesboro TN shares with here readers what the current low interest rates mean to a home buyer especially with historically low,low home prices. This is one you don't want to miss reading Read More

Erick Blackwelder of Woodbridge Virginia is reporting Rising New Home Building Permits show strong recovery is underway in Northern Virginia Markets read more

Now the best news of all if you are thinking of buying a home in the near future. This week interest rates drop to four percent fixed rate! If you will consider a 5/1 Arm rates are hovering around three and a half percent for the first five years guaranteed! Gosh, my first home I ever purchased in 1984 was over fourteen percent financing! This is amazing news for home buyers.

Do You Need Help?   Have a question?

 Let's talk contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder  of Erick and Company  ofExit 1st Choice Realty, WoodbridgeVA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).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, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's.

Have you ever wondered "what happening to home values in the Lake Ridge Virginia area?"You hear the news reports of double dip price reductions, yet you go through Lake Ridge on any given day and you see Sold Signs in your rear view mirror.

Well let me show you.I just went back into the Realtors MLS Database to give you an idea of what our locat real esatate market is really like. The statistic's below is a snapshot of how many single family home are currently active, under contract or that have settled since March 1st, 2011.

                        So what does this mean. It means the market is in a correction market.

• Days on market are coming down
• Many homeowners are getting 96% of List Price
• Buyers are still asking for closing costs. Most sellers are still assisting buyers with closing costs. ( that is the subsidy column- the higher the sales price the higher the subsidy)

stats provided by MRIS

If you have any questions about the real estate market in and around the Lake Ridge Virginia are, just give me a call. It doesn't matter if you own a condo, townhouse or single family home.If I don't have the answer you seek, I will do my best to find it. If you or someone you know is thinking about selling, don't hesitate to call. We are currently accepting listings to sell. Erick and Company does not collect listings. ( get as many as we can and let them sit)  Our goal is a home under contract in thirty days or less. Learn more about how Erick and Company can Sell Your Home Fast

                             Find Out What Your Home is Worth Today-Ask Peggy

"We Know Woodbridge Virginia and surrounding area's! Do You Need Help?  "  

  Have a question? Let's talk contact me by email  or call 703-851-3085.

Contact Peggy James or Erick Blackwelder  of Erick and Company  ofExit 1st Choice Realty, WoodbridgeVA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).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, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's . 

Do need real estate help? My promise to you, we will do everything possible to get your home sold for the highest price, in the shortest period of time with the least amount of stress to you. If you need help feel free to contact me by email  or call 703-851-3085 .

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).Give us a call and wecan "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, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's . 

Realtors and Home Buyers are Encountering a Brisk Sellers Market in The $400,000 to $500,000 Price Range In Woodbridge and Manassas

Nice homes in good condition priced well sell very quickly and in many cases sellers are experiencing the trill of multiple offers!

What happens when the real estate market conditions shift to a sellers market?

• Nice homes in good condition that show well sell in days!
• Sellers are in the drivers seat with the benefit of viewing multiple offers
• You the home buyer needs to put your best offer on paper. Assume someone else wants the house as well.
• Pay close attention to all the data your Buyer Agent is giving you. Comps, Days on Market, Current Supply. All of these trends play a huge part in the offer price and the terms you ask the seller for.
• Trust in the appraisal process to keep things in perspective.
• The goal is to get your offer accepted.
• How do you do that ? Never hesitate when you see a home you love.

For all of you who are reading this that are prospective buyers who want a good deal. In the words of my partner Erick Blackwelder when someone is thinking of low balling an offer just because they want to try. He'll say, I've showed you all the comps, we have looked at all the other homes in your price range, and you have rejected them for you own reasons. This is the home you love and want.

Then he typically asks one last question before he writes the terms of the contract.

 "Do you want to learn a lesson or do you want to buy that house?"

Want proof, I just captured this image off the Realtors MRIS database to give you a visual. Take a look at the last column.This image is for homes that have gone Under Contract since March 1st,2011.

Pay attention to the last column. Look at the Days on Market before the seller received offers!

The current real estate market in Eastern Prince William County Virginia is experiencing multiple offers in the $350,000 to $400,000 price range as well as the $400,000 to $500,000 price. In fact we have multiple offers on our newest listing in Westridge priced at $599,900 at 12290 Pondwater Ct.

Confused? Have questions? Don't hesitate to call. Erick and myself can coach you on all of your options.

Erick Blackwelder and myself have learned over the years that consumers love watching the video tutorials that interest them. In fact when they call the office to set up an appointment, most say " I feel I know you already!" I personally love that call.

Did you know that Erick Blackwelder does a New Home Series of Video's. If you're thinking you might want to buy a new home, you, may find Erick Blackwelders Erick's New Home Video Series.  extremely informative. Call Erick with questions at 703-590-2252.

This week Erick shares tips about Pricing Your Home to Sell in today's current real estate market conditions. Listen...

Do need real estate help?Please don't hesitate to contact me by email  or call 703-851-3085.

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).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, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's . 
                                     
 

Boy or boy, if this doesn't make you angry and concerned, I don't know what will. Take a few minutes and let this information SINK IN.   It appears that this Congressman ( Alan Grayson of Central Florida) is very calmly delivering a message to the American People major trouble is on the horizon. If all this is true,I can't imagine how foreclosed homeowners feel like tonight. 

My question is now what????

Just a few minutes ago,  I saw a comment on Facebook from Ekko Title a local Title Company reminding all REALTORS® to make sure home buyers take out Title Insurance when buying a home. The comment read:

Recent news about problems in the execution of foreclosure documents is another great reason to make sure your clients understand the benefits of Owner's Title Insurance, even if they are 2 or 3 transactions away from the foreclosure sale read more Foreclosures Slow as Document Flaws Emerge

And yet another post I just saw at 4ClosureFraud.org reads KABOOM - Fidelity National Has Told Lenders to Halt Foreclosures, and to Stop Sales

If you are facing foreclosure and receiving notices...it is time to talk to an attorney.

Tips for Home Buyers who still want to buy:for now it appears New Homes and Regular Owner Healthy Sales are the best bets when considering a home purchase. This news may help homeowners who want to sell who are not upside down. Your homes will become far more attractive to the Home Buyers who need and want to buy a home.

        Call  703-851-3085 today or  contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,Woodbridge Virginia 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.

Is the news good? That depends on if you are buying or selling. Sales have decreased and inventory is lower heading into the fall months. According to the market research the predictions for the Northern Virginia and Prince William County VA real estate market, prices will remain flat!

That should be "Music to home buyers ears!" That said if you are thinking of buying a home, it is time to begin the search. Make sure you are working with a "Buyer Agent" who actively updates you on what inventory is available in your price range. The last thing you want to happen is you miss the home in the neighborhood where you want to live! You can sign up for automatic alerts on our web page learn more here.

Right now in Prince William County Virginia, there are several price points that have very limited inventory. Fair Warning the market may switch back to a sellers market as the local Prince William Real Estate Market begins to become a more balanced market.

If you a homeowner and you are thinking of selling your home. Let's talk about the "Winter Advantage"

 If you need help or have real estate questions  

Call  703-590-2252 today or  contact me by email 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,Woodbridge Virginia 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.