July 15th, 2007 Categories: Fairlington, Keller Williams, Property Values
Fairlington, it’s an amazing neighborhood just outside our nations capitol, 4 to 5 miles from The White House and if you’re heading southwest it’s another 2 miles past the Pentagon. There are over 5,000 units within the neighborhood.
I often promote it as a must see for my first time home buyers and empty nesters alike. Sometimes most units would be considered ‘tight’ if you’re in your child rearing years- a family of 4 in one of the larger 1,500 square foot units could end up tripping over each other living everyday life but if thats what you can afford it’sa great neighborhood. At any rate, I have had tremendous luck in equity gains there as a primary residence owner and investor over the past 10…yes…10 years.
I have been debating selling one of my units in the neighborhood a few months now since my tenants lease is up and they are telling me they’re leaving. After relying on my past appraisal on a 2 bedroom 1 bath in early 2006 that came in at $408K. I figured with the ”slow down” in the market that maybe today it would go for $390K (give or take a few K’s) Heres the front door of the unit…
This morning I looked up the average rents in the neighborhood for this model and found I WILL be able to increase the rents about $150-$225 per month but my CMA search came back quite differently than expected!!As the system queried active and closed listings the list included one active, for sale, entered today property that caught my attention. It was the exact same unit as mine and it was selling for*********** $319K***********!!!!!!!!!!!!!!!!
After I picked myself up off the floor I immediately emailed the listing agent who specialized in an area about 20 miles West from here about why the price was SO LOW? Remember I am an agent and an investor in this neighborhood for the past 10 years! Within minutes she replied that, “things seem to be pretty stable now…but not what last year’s prices are…. 
“- I couldn’t believe she was defending her price. I had to vent somehere so you get the story..I couldn’t create a rift with another agent over this could I???
Is it possible that in just 17 months I could have a $100K drop in value? Please keep in mind this neighborhood is just outside of D.C. and most listing in this neighborhood fly out the door even in todays market.
Is this agent going to screw me (and anyone else in this little ecosystem of a community) when they try and sell their place for what they expect and the appraisals show a place that will undoubtedly sell within the first weekend for $100K less than the rest!…..UGH…Maybe I need to go buy it and flip it for a more acurate price 
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July 15th, 2007 Categories: Buying, Keller Williams
I recently converted my home alarm systems from a popluar name brand to a new, not so known name brand system but I am getting great service and the hardware is totally meeting my expectations. My new system has a better touch pad and monitoring service. In agreeing to do the conversion from popular system to not so known system I got a new ‘free’ system panel, new motion detectors, more detectors for all windows and doors and better monitoring from ‘ground control’. I even have a cell phone back up plan.
I thought all this made my vendor worth mentioning. My new provider, APX Alarm Systems, is providing great service with excellent hardware. Check ‘em out- Dont worry about telling them I sent you. I just like to mention it when I get good service. Hopefully you can have the same experience.
To elaborate on the title of this entry though….. I’m thinking of installing this system in my investment properties but I cant help but wonder if it would matter? Is it worth going through the install and increasing my monthly debt the amount of the monitoring in the name if increasing the value or rentability of a rental property? Realizing of course it always good to have the safety aspects of an alarm system do people even care about this when searching for a place to live. I have never had a request for an alarm system…Have you?
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July 15th, 2007 Categories: Arlington, Buying, Keller Williams
I have joined the tech committee for our Keller Williams Arlington Virginia office and I have started to work with a great group of people whose focus for the office will be technology. We will ensure folks have access to the latest and greatest and while we have no plans to be the instructions people or support committee we do expect to enlighten, introduce and point in the right direction those agents using technology in their day to day work.
During our last meeting it was brought up by Jennifer Kluassen that she would not be able to function with her clients effectively without wireless MRIS access through her new IPOD telephone. It was then that I realized that since I have been granted access, I too take full advantage of the service and often times use it to look up the “stats” on a property that has a for sale sign out front… just as I am driving by.
Talk about an informative way to understanding your market without having to look it up later - AND - It proves to be quite the confidence builder for my clients. I couldn’t help but share so that in case you weren’t aware of this feature of MRIS you might want to look into it- It’s easy to access, informative condensed version of MRIS (normally accessed from your home/office computer) and it’s effective in searching out information on your previewing days or tours with your customers. The images and content are adjusted nicely to fit on my TREO and I’m sure most of todays PDA’s.
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Are you using it? Do you find the same value as Jennifer and I do?
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July 7th, 2007 Categories: Arlington, Keller Williams
Knock Knock Knock ..Jennifer and I introduce ourselves to Rudy and Joe and begin our forum…..Jennifer’s husband Dan was able to join as well since he is quite technologically savvy and enjoys the subject of blogging. Rudy turns on the camera, Jennifer turns on her charm, Joe turns on his interview face and I turn up the deoderant…..
We had a nice conversation primarily focused on “Keller Williams Arlington” …more on that in my next Blog entry. Then we had a nice lunch at Mexicali Blues. There is real potential for this new found friendship to help the industry and promote good work utilizing all our skill sets! Especially our ability to stack glasses
I loved sharing the value of blogging and while I wasn’t 100% comfortable in front of the camera I believe in what I was saying and have had valuable responses from my blog. I was thrilled to be getting that much more on the publicity front with others who clearly get ‘it.’
My end result desires for everyone here are two fold. 1. Other folks learn from what is clearly the wave of the future for internet marketing -and- 2. You see that it can be enjoyable and you will I repeat WILL meet quality people doing quality work on behalf of realtors in your area and around the country! Thanks Sellsius lets make sure we do it again soon!
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July 7th, 2007 Categories: Arlington, Buying, Keller Williams
So we are finally meeting the blogger champions of North America and I know I for one can hardly contain myself. I’m so thrilled over how blogging has worked to help generate leads for my business I cant wait to share my story with the Sellsius.com, Blog Tour USA guys!
Jennifer and I continue our descent, we get one last photo right up on the bus- While I didnt pay the $300 to get my face actually laminated to the bus- perhaps this full body shot is worth more in the end- (although I confess maybe a few more laps around the track would help my image I’m sure!)- Ardell youre bottom right…
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July 7th, 2007 Categories: Arlington, Buying, Keller Williams
I met with http://blog.sellsiusrealestate.com/ on their www.blogtourusa.com on the 4th the July 2007. Thanks to Jennifer Klaussen for bringing us together. Hopefully you will find the video they captured of our conversation helpful in understanding how I see blogging to be so beneficial to any marketeers web presence. In case you miss it in my montage perhaps you will have a need for “Keller Williams Arlington Virginia” or “Keller Williams Reston, VA” In the near future- check out www.sellingnva.com when you can! Thanks http://blogtourusa.com and Jennifer for the time this past Wednesday. I feel the energy!!
http://www.wellcomemat.com/real-estate-video/p/1590
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July 7th, 2007 Categories: Keller Williams, Property Values
I have been grappling with what to do in my backyard now for the better part of five years. My wife and I have hired contractors to draw up plans, we have had numerous quotes for reconstruction and decking and additions but finally …just last month…we think we got it. We are hoping for gold!!!
In all the years of trying to figure out what to do in our backyard we finally had a recommendation from a friend who was an actual customer of this (so far) reasonably priced landscaper. I met with the owner and we came up with a plan. I paid 50% up front and the excavation and laying the groundwork has begun…My wife and I can’t wait for it to be completed.
I also can’t help but wonder is this a smart investment? I have been told by other realtors in passing that the equity of my house’s value will go up 50% the costs of the patio. In this case I am adding a $25K patio (two patios actually- upper and lower) so that means the value of my house automatically increases $12,500.00.
I have heard this a few times and can’t help but wonder the truth behind the figures. Do you really get that kind of appraisal/equity gain for adding a patio?
Here are some before and in progress pictures- Ill be sure to unveil the finished product in a few weeks!
Before:
In progress
Yesterday….
Any thoughts??
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July 5th, 2007 Categories: Buying, Keller Williams
We are all here for one reason- I think - I would assume it’s to share ideas about real estate and make sure we get some publicity via the web along the way. I stumbled across an interesting article that starts to touch on a very interesting subject….The jury is still out for me but what do you think?
Do we forgo our traditional methods of creating mailing lists and routinely incurring costs throughout the year to send post cards and mailers that are often times simply filed in the trash can by our would be customers….OR…..do we, now that we’ve arrived in the millenium some 7 years ago, focus our energy and finances on our Blogs and work towards a stronger internet presence? Check this out and tell me what you think…..
“If you have been farming an area with traditional methods you have probably been trying to service an area of two to three hundred homes. You probably send direct mail pieces several times a year, offering a free home evaluation or other marketing offer. Maybe you even go door to door a few times of year. Most of the people are either not at home or do not answer the door and you leave your card or notepad on their front steps.
Welcome to the new millennium. Farming can now be done using technology that will enable you to reach thousands of homes more easily and efficiently than you could reach just a few hundred previously. One of the very best ways to do this is by starting a farming blog.
A blog is a website that lets you write, or post, as often as you wish, and deliver your message to anyone who has either subscribed to the blog’s feed or who visits the website. With the click of your mouse your message can be in front of the homeowners in your farm at a time that is convenient for them to read what you have written in your post.
It is relatively simple to start a blog. They are available for free from some places or for a fee of less than five dollars each month from others. The blogs that have a monthly or annual fee will generally offer more choices and features than the free blog services. It is up to you and you should experiment with the ones you are considering.
You will want to give your blog a name that has meaning to the people who live in your farm area. Do not use your name unless everyone in the area knows you. It is better to use a name that is relevant to the neighborhood. My farming blog is called Plum Canyon Neighbors. When people receive an email message with this subject line they know that it is important information from me about happenings in their area.
Give blogging a chance as a way to market to your farm. You will find that it is so easy and effective you will be glad that you started one.”
Article Source: http://EzineArticles.com/?expert=Connie_Ragen_Green
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July 5th, 2007 Categories: Arlington, Keller Williams, Selling
So I wrote a few weeks back about my experience with Google Adwords and asked whether or not my readers agreed with my invesment- I have decided to give it a three month run and figure out at the end whether or not to delete and move on.
In the meantime you can still find my advertisement by going to http://www.google.com/ and searching under “Keller Williams Arlington Virginia”- My adword is on the right hand side of the page along with all the results that come from my blog on the left side of the results page.
The reason for todays update is because I have found the orginator of Googles “adsense” (part of adwords) and I wanted to share- In summary a woman who allowed the founders of Google (Larry Page and Sergey Brin) to rent her garage in their early days of development is now the VP of Product Management. She was emplyee 18 at Google. “Wojcicki’s idea turned into a runaway smash. Google doesn’t break out revenues from AdSense and AdWords. But the company recently reported quarterly profit of $1 billion, virtually all derived from both ad programs.”
(picture by: By Jack Gruber, USA TODAY)
USA TODAY on line writes, “If you’ve ever clicked a text ad on MySpace, About.com or any thousands of blogs with “Ads by Google,” you’ve got Susan Wojcicki to thank. Expanding ads beyond Google’s own search pages was her idea. Now, Google has asked her to further grow the empire by bringing its advertiser base to old media such as newspapers, magazines, radio and television.”
To read more you can find the article here: http://www.usatoday.com/tech/techinvestor/corporatenews/2007-07-04-google-wojcicki_N.htm
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July 5th, 2007 Categories: Buying, Keller Williams
So my property search engines on both my sites was either down or not functioning properly…several blogs written about this by other Keller Williams Rainers so I had to share my news! The Support@kw team (specifically Orlando and Andrew) have finally fixed my issue…You can actually search for properties using both my KW website and my own business website
In addition, I had a great conversation with www.ActiveRain.com/mmapes member today regarding Google Adwords and the future of internet marketing….Right up my alley for getting the ball rolling and inspiring me to conitue to work hard for my customers…
FEEL THE ENERGY!!!!!
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July 3rd, 2007 Categories: Financing, Keller Williams
Your credit score can have a tremendous impact on your pocketbook, your future and also your general peace of mind. If your credit score is not great, it can cost you tens of thousands and even hundreds of thousands of extra dollars in your lifetime in the form of excess interest, fees and charges. Of course if this same money was invested over a lifetime, it could make you a millionaire rather than a slave to debtors who keep charging higher and higher interest rates the lower that your credit score falls.
Notice that in order for you to lose a lot of money in terms of interest rates on loans, your credit score doesn’t have to be bad …all it has to be is “not that great.” Unfortunately, a person’s credit score can be very fragile. Sometimes all it takes is one missed payment to knock about 100 points off of your numbers and knock you from the coveted position of a person with good credit to a struggling and more expensive existence as a person with mediocre credit.
The key is to think of your credit score as being an extension of your personal reputation. If your credit score is high enough then lenders will be fiercely competing with you trying to get your business. Your mailbox will be crammed with offers from credit card issuers and mortgage lenders who will be competing fiercely to offer you loans, credit cards and mortgages with low interest rates.
However, if you have a low credit rating you are still likely to find yourself with a crammed mailbox but it will be full of offers for loans with a high interest rate and notification of sudden split decisions made by credit card companies and other lenders to raise your interest rates with no warning.
A high credit score will also get you great deals on auto financing if you need new wheels, home loans if you want to buy or renovate a house and business loans if you want to start your own enterprise. A low credit score turns you into a renter for life.
Whether or not your credit score is high or low can also affect your personal reputation. Landlords and insurance companies also look at your credit scores to find out what kind of person you are. A landlord may ask you for more of a deposit or deny you an apartment if your credit score is low. An insurance company might up your monthly rates if they detect that you are a financial risk that may not make its payments on time.
Life can be rigid and expensive if you have a bad credit score. If your credit score is low or next to non-existent you will find yourself in a consumer’s purgatory where it is impossible for you to maintain mainstream credit. If you do happen to stumble upon an opportunity to obtain credit, chances are that it will be offered by one the many legal loan sharks in North America who will charge you high rates and fat fees (usually more than 40%) to borrow even the slightest amount of money.
In essence, your low credit score can cost you. You can even have a really great credit score and not realize that you qualify for better terms. Sometimes the problem isn’t getting loans; it is getting loans that cause you to pay a high price over the long term.
I always advise my customers to protect their credit in order to let the mortgage lenders do their jobs. I’m not in the mortgage business but I know enough to know your credit is a huge percentage of the equation!
So like I tell my clients do the RIGHT MATH !!
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July 3rd, 2007 Categories: Just for Fun, Keller Williams
My wife used to work at a telephone company once known as MCI- (some may recall the legal issues that were faced by Bernie Ebbers?)…That aside and before the incorporation of WorldCom with MCI, MCI did quite well for itself. They had Government contracts and offered excellent high speed services.
Long story short, MCI rewards their employees every 4th of July because the Pentagon City office would set up a catered, air conditioned tent at the base of the Washington Monument for afternoon partying and evening fireworks the day of the 4th of July. My wife was senior enough on the management track to be a VIP at this event for two/three years in a row. Spouses were allowed to go and so were our friends. There was always 200-300 people that showed up that were allowed behind the ‘velvet rope’. In hindsight it was quite the perk considering the significance of the event as well as the location. The years we went air conditioning was KEY!
I wanted to share this story in hopes others may have been lucky enough to experience the “Mall” on the 4th of July. While traffic all the way through into Northern Virginia reeks havoc for 24 hours, the views of the fireworks and the celebration of our great country was and is worth every second!
Here are some random shots I pulled off the web to get y’all into the mood! HAPPY 4TH OF JULY!
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Did you know you could find KW Mclean on ActiveRain.Com too? July 23rd, 2008
Scott Montgomery and Team can also be found participating in the ActiveRain Community. For over a year now we have been an active member of www.ActiveRain.com. In the past and even today we […]
Read MoreNorthern Virginia Real Estate Prices continue to FALL… July 23rd, 2008
Northern Virginia’s year to date average real estate sales price is down from last year.
Last years average sales price was $537,339.00 and this years grand total is $482,197.00. Thats is a […]
Keller Williams Mclean Virginia Realtor Scott Montgomery pledges…. July 23rd, 2008
We will never do this to your listing….
http://www.youtube.com/watch?v=sNSWccfdO3Y
Give us a call today to learn more about how we can help you sell your property the right way.
Scott Montgomery
703-283-4524
scottmontgomery@kw.com
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