Woodbridge Virginia Real Estate News: August 2009

Woodbridge VA Real Estate News You Can Use

Stupid Woodbridge Home Seller Makes Stupid Choice

Just When I Think I've Heard Every Story, A New Stupid Story Comes Along

I recently met a young man found out I help folks sell and buy property.

"Real estate is bad right now.  Buying a house was a bad investment.  So I just walked away from my house and gave it back to the bank," he said.

(The bank never owned the house.  So one may not "give it back to the bank".  The bank just provided a loan the lad used to buy the house.)

I said, "You let the bank foreclose?  Why?  Did you lose your job?  Did your payment jump too high to afford? "No, I could afford the payments."

"So why did you walk away and let the bank foreclose?"

His answer was astounding.

"The value dropped to $160,000.  My loan was $220,000.  I was paying payments on a loan that was $60,000 higher than the value of my house.  I told the mortgage company that they should lower the loan to $160,000 to match the value, that it wasn't fair to make payments for a loan that was bigger than the value, so I gave it back."

I replied, "Did anyone tell you that real estate values always bounce back, then grow steadily over the long haul?"

"Yeah, but if it doesn't this time?" 

"So where do you live now?"

"Oh, we love the neighborhood, so we rented a townhouse up the street so our kids could keep their friends and go to the same school."

"So your rent you pay, what are you paying in rent compared to your old house payment?  Are you saving money?"

"That's the only bad part... our rent payment is $200 more than our house payment was."

A friend pulled me away from the lad to introduce me to some folks who want to move and need my help.  Thank goodness.

Just when I think I've heard 'em all, here comes another one.

Did this post tickle your curiosity?  CLICK HERE to send your question.  Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS.  You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

Woodbridge Home For Sale Purchased Via Internet By Soldier In Iraq

Photo Tour Of Home For Sale Along With Comments From His Fiance' Secures Home Now

Woodbridge Real Estate Popular Among Soldiers Coming To Pentagon Or Belvoir

Scroll Down To See Photos And A Link To The Photo Tour Steve Got Over In Iraq

Over the past 20+ years, my team of agents and assistants have lived by a handful of rules for accepting or rejecting potential clients.

Rule #1 says, we only work with people WE LIKE.

A wonderful man deployed to Iraq was referred to us by one of our favorite clients.

The soldier in Iraq, Steve, is due to return to the US for a staff job at the Pentagon in 2-3 months. 

He wants to have a home bought and paid-for as soon  as he gets home.

No problem.

We've done the same with other folks coming from Germany, Japan, and other places, thanks to effective internet tools, and strong rapport.

Steve's fiance', Lage, worked with my partner, Peggy to check out the homes Steve picked out on FranklyMLS.com.

Steve had four homes that tripped his trigger, three resale homes and one new home by Ryan Homes.

So Peggy and Lage went out on a mission to check out the homes Steve picked on FranklyMLS.com.

Peg and Lage struck up rapport, like old pals. 

The three resale homes were nice, but not good enough.Then, Lage saw the new home built by Ryan Homes and it was love at first sight.

Not only did the home have all the room and features they wanted, they could also select the color schemes for the exterior, carpet, counters, appliances, and more.

CLICK HERE NOW to see my partner, Peggy James, shoot a video tour of the home he bought, with the help of his fiance'.

Did this post tickle your curiosity?  CLICK HERE to send your question.  Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS.  You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

Me: "Hi (Listing Agent's Name), I have an offer for your listing that went on the market this morning on Blauman Street.  How do you want me to deliver the papers?  Fax?  Email?  Carrier pigeon?"

Listing Agent: "Hi Erick, good to hear from you.  We have received twelve (12) good offers since the house went on the market this morning.  Yours will be number 13. 

Me: "There was a teaming horde of Realtors and customers all around the house this morning when my customers saw the house."

Listing Agent: "Three other agents called saying they are emailing offers."

Me: "Wow.  The last house my customers bid on had over 30 offers in three days."

Listing Agent: "The seller has asked us to take no more offers after 3:00 PM today.  The seller shall review the three highest and best offers around 5:00 PM today."

In April, 2008, buyers began buying homes in Prince William County in record-breaking numbers.

Between 1,580 and 2,200 homes have sold each month in Prince William County each and every month since April, 2008.

The inventory of homes actively "FOR SALE" has steadily declined from 7,000+ in January, 2008, to fewer than 1,500 homes "FOR SALE" today.

Meanwhile, over 2,000 homes sold in the county in June, 2009.

SAMPLE EMAILS FROM LISTING AGENTS RESPONDING TO OFFERS I PRESENTED ON BEHALF OF BUYERS

"Erick.  Good to hear from you.  Sorry to tell you that the seller selected another offer, your client's offer was not the winning bid.  Best Regards."

"Mr. Blackwelder, your offer was not among the top three. We got 22 offers.  Your customer did not get the house."

"Sorry to be the bearer of sad news.  Your buyers contract was not the winning contract."

And so on... and so on...

Look at it this way, when a house gets 15 offers, one party gets the house, while 14 other folks sadly move on, lick their wounds, and try again.

So, if you are bidding on homes, losing homes to other bids, look inside yourself and ask, "Did I hold anything back?  Did I offer $440,000 for a $400,000 house, but I would have gladly paid $450,000?  Boy do I regret holding back."

So what's the point?

The point is, if you want to have your best shot at getting a house right now, toss your "No Regrets" price on the table.

Hold nothing back.

Bid as high as you can.

Then remember, if your bid wins the house, the appraisal will protect you from over-paying for the house.

For example, a family I am helping right now bid $425,000 for a house listed at $360,000 and their bid won the house.

The buyer's mortgage company ordered an appraisal through Fannie Mae.  The appraiser valued the house at $395,000.

They are paying $395,000 for the house.

Did this post tickle your curiosity?  CLICK HERE to send your question.  Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS.  You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.
 

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation.  The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing.  Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.

Woodbridge Virginia Real Estate News: Woodbridge New Homes Selling Fast

Woodbridge Home Builders Report More Sales And More Model Home Traffic

Over 70% Of New Home Buyers Have Their Own Buyer Agent Represent Them When Buying A New Home

"On Monday, July 27, the Commerce Department reported new home sales jumped 11% in June to a seasonally adjusted annual rate of 384,000 from an upwardly revised rate of 346,000 in May.

It was the largest monthly increase in more than 8 years. Economists had expected a sales pace of 360,000 units."

I've protected hundreds of new home buyers as their Buyer Agent over the decades I've been in the real estate business.

Did you know that builders have TEN (10) profit centers, ten ways they can take your money when you buy a home? 

Half my family is associated with the new homes business in one way or another.  Family gatherings include conversation about the latest stuff going on in home building.

I have a second career as a paid speaker.  I get hired to speak at conventions, teach classes at conferences, and lead 2-day seminars for lenders, Realtors, and new homes sales managers.

I actually TEACH new homes sales managers techniques and dialogs to use with customers to maximize the builder's profit.

For example, new homes sales managers in our area are NOT licensed Realtors.  They are employees of the builder, that is technically selling their new homes as "For Sale By Owner". 

New homes sales managers are not bound by many of the consumer protection laws that Realtors must obey.

If you want to buy a new home, and you had a choice between buying a home alone, or having a industry insider who knows how to protect you from over-paying for a new home, which would you choose?

Hiring me to help negotiate your new home purchase doesn't cost you a penny... the builders pay a finders fee to Buyer Agents knowing that my duty is to serve you, not the builder.

Did this post tickle your curiosity?  CLICK HERE to send your question.  Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS.  You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

                        Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252  list your property for sale or to  purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.