September 29th, 2008 Categories: Arlington, Buying, Commercial, Condo Communities, Entertainment & Lifestyle, Fairfax, Fairlington, Falls Church, Financing, Great Falls, Just for Fun, Keller Williams, Mclean, On The Town, Properties, Property Values, Real Estate News, Reston, Selling, Single Family Homes, Vienna
I was reading the actual bill that describes our ‘$700B bail out’ and WOW is what comes to mind. This should be the cause for an amazing change from the mortgage lock-down we’ve been experiencing the past few months.
If I had a crystal ball and wanted to assure my buyers of when it was a good time to buy, I would suggest that once this bill passes (there is a clause that requires implementation start within 60 days) that later this year early next will be the best time to buy on almost all fronts. Interest rates should remain low, prices should remain low and because of this bill, prices should stabilize. Stabilizing of prices and the churn of new buyers could potential be the perfect storm for equity gains to start again….
Call me today if you’d like to discuss my interpretation or yours. I’d also call your bank and see what they can do for you- this would be EXACTLY what the point of all this is to drive.
Ive attached a snippet of the actual bill that highlights some interesting change potentially headed our way.
“SEC. 109. FORECLOSURE MITIGATION EFFORTS.
…MODIFICATIONS
In the case of a residential mortgage loan, modifications made under paragraph (1) may include—(A) reduction in interest rates (B) reduction of loan principal; and(C) other similar modifications.
TENANT PROTECTIONS.—In the case of mortgages on residential rental properties, modifications made under paragraph (1) shall ensure—(A) the continuation of any existing Federal, State, and local rental subsidies and protections; and(B) that modifications take into account2 the need for operating funds to maintain decent3 and safe conditions at the property.”
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July 31st, 2008 Categories: Arlington, Keller Williams, Real Estate News, Selling
We promoted here, there and everywhere. We showed it a dozen times. We held open houses and surveyed the daily usage of our lock box and finally YES finally we got an offer! Scott and his team massaged his buyer such that the price our client wanted was met and the deal is closed. Were excited about the buzz. it seems this market, allbeit a buyers market, still has a few to sell here and there. Check out this amazing value here: http://slideshow.mris.com/slideshow.cfm?ListingKey=10446355975
Thanks for visiting our site and please call us today! Were happy to list your property, help you find a property or even familiarize you with an area before you buy. Simply call and we’ll be there for you! 703-283-4524 or scottmontgomery@kw.com
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July 8th, 2008 Categories: Keller Williams, Real Estate News, Selling, Vienna
Come take another look at this magnificent Georgian Style Estate- This property boasts 6 bedrooms and 6 full baths as well as heated pool and cabana on a meticulously maintained 2 acre hill top lot situated at the end of a cul de sac. We have motivated sellers who want to pass this gem, that they have called home for many years, to the perfect suitor…YOU!! Call me today to schedule a showing.
http://www.homevisit.com/tour/vtour.asp?id=28608
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June 20th, 2008 Categories: Keller Williams, Selling, Vienna
OPEN HOUSE
Sunday, June 22, 1-3pm
2084 Hunters Crest Way, Vienna, VA
2 acres, 8,500 sq ft
4 Floors: 5 bed, 5.5 bath
4 Fireplaces
In-Ground Pool w/Cabana
Sauna
Wine Cellar….
…..the list goes on and on at this beautiful hilltop property!
Stop by this Sunday, or call us for more information and/or to schedule a showing! 703.283.4524
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June 2nd, 2008 Categories: Keller Williams, Mclean, Selling
Is it time to move? Need more space? Whatever the reason, if you’re thinking about selling your current property in McLean, you’re going to wonder “How much is my house worth now?” Well that’s where we come in! Call us today for a FREE Comparative Market Analysis and we can show you facts and figures about your local market, and properties similar to yours, that will help establish a sale price.
For more details, call or email us today! 703.283.4524 or 703.283.6120
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May 29th, 2008 Categories: Arlington, Fairlington, Keller Williams, Selling
Is it time to move? Need more space? Whatever the reason, if you’re thinking about selling your current property in Arlington, you’re going to wonder “How much is my house worth now?” Well that’s where we come in! Call us today for a FREE Comparative Market Analysis and we can show you facts and figures about your local market, and properties similar to yours, that will help establish a sale price.
For more details, call or email us today! 703.283.4524 or ScottMontgomery@kw.com
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April 23rd, 2008 Categories: Buying, Keller Williams, Selling
Let’s check out how all of the Northern Virginia area did in March with real estate sales. The following information is from Fairfax and Arlington County, Alexandria, Falls Church, Fairfax, Vienna, Herndon, and Clifton.
Total Properties Sold: 1,250
Average Days on Market: 109
Average Sales Price: $476,342
Median Sales Price: $401,380
How does this compare to the Year To Date Numbers?
YTD Home Sales: 2,935
YTD Average Sale Price: $479,696
Overall, prices are about 8% less than this time last year, but with Spring fever rapidly approaching, the 4-5 month absorption rate is already better than last month. It’s a great time to jump into the real estate market!
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April 22nd, 2008 Categories: Arlington, Keller Williams, Selling
JUST SOLD!
We are happy to announce we just sold a 2 bed, 2 bath condo in Arlington at The Residences at Station Square in Clarendon!
With many options at our disposal, please call or email us today to discuss how we can help YOU sell your condo or home! Or call for a free Comparative Market Analysis to find out how much similar units are selling for!
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March 31st, 2008 Categories: Keller Williams, Selling
The Northern Virginia Association of Realtors recently published the following facts:
87% of buyers used a real estate professional to make a real estate purchase
4% of homes sold were For Sale By Owner (FSBO) - the National average for FSBOs is 12%
More importantly, FSBOs sold for about 20% LESS than similar homes sold using an agent
So let’s sort through these facts: FSBOs if they put a “no agents please” contingency, are missing 87% of home buyers, they’re losing a potential 20% increase in sales price, and tons of marketing advantages. But think about it, at the max 20%, if your agent required a 15% commission, you’d still be gaining an additional 5%!!
Call us today to find out how we can help sell your home for you!
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March 27th, 2008 Categories: Buying, Keller Williams, Selling
NO! A common misconception is that these two terms mean the same thing for those of us in the real estate profession. In reality, they actually mean:
Real Estate Agent: A licensed individual that may represent either the buyer or the seller in a real estate transaction. The agent is supposed to look after the best interest of their consumer
Realtor:A licensed individual that is also a member of the National Association of Realtors, a trade association that acts on behalf of the nation’s real estate sales force. Membership is voluntary, but only those who are members may call themselves Realtors. Members must abide by a strict Code of Ethics, in order to maintain their membership. When looking for a REALTOR, make sure you look for the trademark “R” shown above!
Scott and I are both REALTORS, we both belong to the NAR and would be happy to represent YOU in your next real estate deal. Please call us today to talk about how we may be able to help you find your dream home.
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March 19th, 2008 Categories: Keller Williams, Selling
First of, what’s a seller subsidy? A seller subsidy is cash offered out-of-pocket from the seller to offset the sales price and compensate the buyer for things like closing costs, upgrades, etc. It’s a feature used more commonly now than in past markets to attract new buyers by lowering the effective “sales price,” while keeping the comps around the area high. For example, a property with a sales price of $600K with a $10K subsidy, is actually $590K out of the buyers pocket! It’s something to keep an eye out for when shopping for a property and assessing comps around the area.
According to the NVAR (and MRIS data), subsidy contributions made up about 2% of total sales prices during the past 6 years.
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March 5th, 2008 Categories: Keller Williams, Selling
As of yesterday, March 4th, the Northern Virginia Transportation Authority has decided to stop collection of all regional fees associated with the grantor’s tax - a rate of $.40 per $100 (or $4 for every $,1000). Tax revenue is used to pay (in part) for Hampton Roads improvements, and more. This increase of 400% (up from $1 per $1,000) was ruled unconstitutional!!
It is unclear how they will handle refunds to seller’s who have previously been subject to the tax increase, so make sure you’ve kept your settlement forms and keep an eye out for further developments. Also, visit the NVAR website or email me for updates!
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January 14th, 2008 Categories: Arlington, Keller Williams, Selling
Beginning on, or around January 15th (tomorrow), the Department of Real Estate Assessments will be mailing all Arlington, VA property owners (including detached single family homes, townhouses, and condos) their assessed property values. All assessments are for 100% of value, meaning the assessed value = current sale price (if the property were placed on the market today). The assessment also includes last years’ property value. Formulas for calculation vary, but the Department uses adjustment factors that are dictated by neighborhood sales in order for assessed property values to equal sales prices.
If you believe that the assessed value is incorrect, there is a period of contention for your appeal (the final date of appeal should be listed on the document).
Bottom Line: The Department of Real Estate Assessments will be distributing property value assessments to all Arlington property owners that should be a comparable current market value price. If you have questions regarding your assessment, please call or email me!
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December 2nd, 2007 Categories: Keller Williams, Property Values, Selling
Money Magazine’s Josh Garskof recommends updating or installing an AC system to your house this winter to increase the value of your home. It’s one of the simplest things to you can do to immediately increase your property value; the beauty of doing it during the winter is that it’s cheaper! Garskof quotes a contractor who says that winter months are so slow for them; they’re willing to cut installation costs by 10 – 20%! The increase in your property value from this AC installation will be at least as much as it cost you to install the new system. Benefits from this installation can be as much as 10% in warm climates. For more tips from Garskof, visit the CNN website.
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August 5th, 2007 Categories: Arlington, Keller Williams, Selling
I have been out of pocket the past week or so and decided I better get back in gear and get my blog updated.
What better way to do this than to announce that we finally have a new place to call home! Our new office address is 2101 Wilson Blvd Arlington VA 22201. My direct line is 703-242-6058. We are in temporary space on the 11th floor and expect, by the end of the year, to be in our offices on the first floor making it easier for customer to walk right in from the main street and metro just outside our front door.
Our new office is located within the heart of Arlington, Virginia. We have coffee shops, restaurants, residential condos, schools, shops and single family homes surrounding us. The facilities themselves are freshly painted, newer carpet, work out facilities and parking as well as great views, good size offices and a mega conference room for when we all get together to talk real estate.
I hope you will come by and visit- I look forward to helping you and yours with all your real estate needs.
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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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June 29th, 2007 Categories: Keller Williams, Selling
Sometimes a little lube helps before someone sticks it to you! Let me explain, so I am out there, on the web. My presence is starting to benefit my business in so many ways however I’m also starting to get calls soliciting me for services. Here’s what has happened over the last 24 hours.
Yesterday afternoon I get a call to my cell phone from http://www.replyrealestate.com/- apparently a reputable lead generator of which I have never considered. An absolutely lovely saleswomen talks me into trying this service for a subscription fee of $49.99 (prorated for June) and only $44 per lead- I could even specify buyer or seller leads! So I jumped on the service and said to myself this may be the ticket! I’m certain my business mentor and coach would have disagreed with my impulse buy but I knew what I was doing….. I needed to surprise everyone with my new found method to growing my business…….I was going to strike it rich the smart way!……I’m sure you’ve all been there!
My first lead came in today……I was so excited I jumped right into action and called the number no longer in service, emailed the first email address that rejected due to system no longer active and emailed the alternate address only to get his response…”Scott, I am not really interested in anything. I was testing the system to see what happened when someone put in a request. Sorry about that.” Connie Chillemi XXXX Realty Principal Broker.
While feeling somewhat discouraged and wondering now what was it the sales lady said about getting credit for bogus leads, the second lead showed up in my mailbox…Ignoring my concerns from the first prospect I jumped right back into action and called the contact number right away. This was my response, “This is not Michael, I don’t want to buy anything and I wish you people would stop calling!” I cut it short and got off the line! That would be $44 please!
As you would imagine I requested http://www.replyrealestate.com/ stop all charges and credit me for any incurred charges and stop all services for the future, “my time is worth more than this hassle.” My ego bruised and my exciting prospecting having come to an end I sit here tonight and wondering……
…..Was I hasty in my decision to bag it? Do other agent buy lead-generating services and actually have success? Is lead generation a good service to round out my marketing strategy? Surely someone out there has THE ONLY correct answer ;-)
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June 7th, 2007 Categories: Keller Williams, Selling
The current state of the Northern Virginia housing market should be considered a deceleration or a return to normalcy, and not the start of a bubble bursting. The key to this conclusion rests on market fundamentals-demand for housing in the region continues to be strong as a result of robust job growth. Between June 2005 and June 2006, the Washington, D.C. region added 76,800 jobs, with the wider Northern Virginia area accounting for 40,800. It is anticipated that the region will add about 60,000 jobs each year for the next several years, which will keep the demand for housing stable.
Recent data from MRIS indicates that Northern Virginia home prices were up 4.7 percent in June (All homes sales data comes from the MRIS database. Please note that figures reported here may differ somewhat from market statistics posted on the MRIS and NVAR sites. Data used in this report may be accessed at a different time and may use slightly different definitions). The month-over-the-year price data for June continues a trend of price deceleration in the region. These trends do not imply a bubble burst. Instead, the single-digit price increases Northern Virginia has experienced during the past few months are indicative of a return to a more normal market, where the long-term average annual percent price increase is about 7 percent.
Since late 2005, the Northern Virginia housing market has shifted notably. The overall trends mask important subtleties. Understanding these subtleties-such as which market segments are more susceptible to deceleration-is important for real estate professionals to gauge the local housing market. There is some evidence that the market remains strongest for larger single-family homes in the closer-in jurisdictions and is becoming increasingly weaker for smaller units, particularly condominiums, in further- out neighborhoods.
Chart 1 shows the month-over-the-year price changes for sales of existing housing by housing type-single-family detached homes (SFD), townhouses (TH), and condominiums and cooperatives (Condos). All product types have been experiencing slowdowns in price appreciation since July 2005. Condominiums had stronger price appreciation in the summer of 2005 compared with single-family detached and attached homes. However, in 2006, increases in prices of condominiums slowed more dramatically. In fact, in June, when overall home price appreciation ticked up a bit over May, prices of condominiums continued to grow more slowly.
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May 20th, 2007 Categories: Keller Williams, Selling
Last week I advised my seller to stop smoking in the house. I advised this since the first thing I noticed when doing our final walk through before the open house this weekend was the pungent smell of lingering stale cigarette smoke. Irony has it that today, when I was opening the house to potential buyers, I found the owner huddled in the back of the garage, smoking. This was a good thing, but I still noticed the smell of stale cigarette smoke lingering throughout the house, clearly it had adhered itself to the paint on the walls and sheer curtain hanging on most windows. Before opening I began spraying air freshener all over the place to cover it up when I realized…
Is there anything worse than the strong smell of ‘Cranberries and Roses’ covering an underlying smell of stale smoke? I thought better of my spraying and opened up all the windows…
I’m still wondering however, is it better to cover up the undesirable smells like tobacco and/or used kitty litter boxes, musty rooms etc. with air fresheners, candles, cookies baking in the oven or do we let potential buyers experience the moment?
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May 18th, 2007 Categories: Keller Williams, Selling
I am working with my broker to sell this house (quite the beauty here in North Reston,VA). I met the owner last night as we did our final walk thru before this weekend’s open house. We finalized a few finishing touches before we all agreed it was time to generate some traffic. Here comes the part that I am hoping you find interesting.
The owner (a lovely women who is retired and moving out of that state, we’ll call her Ellen) within 3 minutes of meeting me explained to me the importance of internet marketing my business… thru AOL….Here are the cliff notes of what she explained…
While not as computer savvy as the most basic of bloggers needs to be, she knows how to check email and has “AOL” loaded on her computer. She has used AOL for email for several years. Every time she logs into AOL she see the hyperlink to Real Estate (middle of the page directory) and one day (in the not so distant past) clicked it…..It is here that she was connected to a home and or Realtor search- she went down the home search, picked her city and state and proceeded to follow the prompts that led her right to posting of her new neighborhood. She then went to the Realtor side, found an agent, made the contact and is now closing in a few weeks on her new home and life in a different state. Not every customer is so wiling to do a site unseen transaction but some are out there and who knows what the future holds so I decided to take a look myself
I surfed around this afternoon and found I could search on line most anywhere in the US for a new home and quickly too- Next I played with the Find a Realtor button- where I was prompted to read the the following: “The starting page is selected randomly to avoid alphabetical bias.” followed by a yellow page list of over 231 realtors for ARLINGTON Virginia.
I have to keep looking at how this works- clearly it can’t hurt to get you and your business published here-I thought it was worth sharing since my customer tells me she bought her new house via AOL without even having been to see it yet in person- someone is just about to cash a nice commission check. Shouldn’t we be doing the same 
?
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The BEST Time to Buy Northern Virginia Real Estate … September 29th, 2008
I was reading the actual bill that describes our ‘$700B bail out’ and WOW is what comes to mind. This should be the cause for an amazing change from the mortgage lock-down […]
Read MoreMid Town North- Reston Town Centers Finest September 17th, 2008
Welcome to a great presentation I found on You Tube that offers terrific video footage of Reston’s, Mid Town North condominiums. The Kettler CMO and sales team that created this presentation are doing a […]
Read MoreThe Odyssey, Arlington Virginia’s not so hidden gem September 4th, 2008
Standing over 12 stories tall and located in the heart of Arlington Virginia this high tech looking, contemporary condominium building has terrific view of the DC skyline, especially from the […]
Read MoreThe Wooster and Mercer Lofts- Centered between Rosslyn and Courthouse Metro stops September 4th, 2008
Situated practically in the middle between Arlington’s Rosslyn and Courthouse metro stops the Wooster and Mercer Lofts are available for sale now. Boasting anywhere 10-18 foot high ceilins in most […]
Read MoreClarendon 1021- Great sense of Community in Arlington Virginia September 4th, 2008
Built in 2005, Clarendons 1021 holds 400+ units and has roughly 500 parking spots in an attached underground garage. Situated right next door to Station Square, in the heart of […]
Read MoreStation Square: The Heart of Arlington, Virginia September 4th, 2008
Built in 2006, this cluster of 3 condominium buildings hold 300+ units and have roughly 600 parking spots in an attached underground garage. Situated in the heart of Clarendon these […]
Read MoreReston Virginia, 20194 Home Sales are on the Rise August 29th, 2008
I was looking around at a great website www.city-data.com for information on Restons home sales and to my surpise I learned so much more about the demographics of this steadily growing […]
Read MoreRestaurant Three (3) Clarendon August 25th, 2008
Saturday night my wife and I, with a few close friends, enjoyed an amazing atmosphere and dinner at Restaurant 3 in Arlington Virginia. Situated in small corner of the block that Station Square condominiums […]
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