Real Estate News About Woodbridge Virginia and Surrounding Communities

Woodbridge Home Owners And The Washington Nationals Baseball Games

Wed, 16 May 2012 12:43:39 -0700

Woodbridge Home Owners And The Washington Nationals Baseball Games

This Author Went To A Game Yesterday And Enjoyed The Experience

Parked At The Springfield Metro Rail Station And Rode The Subway To Natinals Park

You can get to and from Washington Nationals baseball games using Metro rail service that goes to the Navy Yard station.

I went to a game yesterday with my wife, Patty. Her company sponsored a day at the ball park for employees and spouses or significant others.

I'd been to Nationals games at RFK stadium, and I drove because RFK has ample parking, and I know some secret short-cuts to escape the traffic.

The new Nationals Stadium has plenty of refreshment vendors, lots of restrooms, but the one thing it lacks is convenient parking. You need a permit to park in ANY of the parking lots, and parking could be as far as four blocks away from the stadium. Whereas the Navy Yard Metro rail station is beneath the southwest corner of the stadium.

Yesterday's game started at 1 PM. So we hopped in the car around 11:30, drove to the Springfield Metro rail station.

The parking garage was 99% packed with cars driven by commuters, but within ten minutes we found a parking space and took the elevator to the station platform.

A train was waiting when we got there, so we were on our way in a flash.

We changed trains at the Pentagon, and once again at L'enfant Plaza to get to the Navy Yard station. Changing trains was no big deal thanks to easy to understand signs in the stations.

We hoofed it around the corner to the stadium entrance, up a few escalators, and a flight of stairs that took us to the nose-bleed seats the company purchased for us, just above left field.

The view of the field was great. Plus we had a view of downtown Washington DC.

Ben's Chili Bowl has numerous vendor locations around the stadium if you love good chili. I had an all-beef hot dog and it was tasty with my big mug of diet soda.

The crowd we were with decided to go down to the bar behind center field for cocktails, so we tagged along. We didn't watch the game because we were chatting at the bar. I stuck with my usual... diet cola.

The Nationals lost the game, but we had a fun adventure.

The ride home started with packed Metro trains because the game crowd was blending with commuters. We didn't wait more than 3 minutes for a train at our transfer points.

Leaving the Springfield Metro parking lot was an education in automation. There are no attendents at the exits to collect your parking fee. So I looked for a way to pay with my Metro rail pass card. No joy. So I whipped out the Visa card and in no time we were on our way.

All in all we had a fun adventure. The vendors at the game couldn't have been nicer.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Northern Virginia Home Sales And Home Prices Are Up

Mon, 14 May 2012 08:52:26 -0700

N.Va. Home Sales, Prices Show Upward Trend in April

by SCOTT McCAFFREY, Staff Writer | Posted: Friday, May 11, 2012 5:00 am

Home sales across Northern Virginia in May were up nearly 11 percent from a year before, while the average and median sales prices also rose and the inventory of properties on the market continued to decline.

A total of 2,714 properties in the region changed hands last month, up 10.9 percent from the 2,448 transactions reported in April 2011, according to figures reported May 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service.

Figures represent the broader Northern Virginia market, including Arlington, Fairfax, Loudoun, Prince William and Fauquier counties and the cities of Alexandria, Falls Church, Fairfax, Manassas and Manassas Park.

The data suggest that the local real estate market received a boost from a mild winter, which got prospective home purchasers out earlier than usual in their quest to beat the crowd.

The increase in sales was accompanied by a modest spike in average prices, which rose from $417,654 a year ago to $437,293 this April, an increase of 4.7 percent.

The increase was evident in all three segments of the market:

* The average price of single-family homes sold last month was $534,904, up 2.6 percent.

* The average price of attached homes, such as townhouses and rowhouses, was up 5.7 percent to $328,744.

* The average price of condominiums was up 10.1 percent to $282,162.

The median price of all properties that sold across Northern Virginia during the month was $384,250, up 6.7 percent from the $360,000 recorded a year before. The median is the point at which half of homes sell for more, half for less, and is seen by some a more accurate gauge of the state of the market.

Of homes that sold in April, the average time between listing and ratified sales contract was a very brisk 54 days, down from an average of 63 days for homes that sold a year before.

Homes that sold last month garnered an average 97.2 percent of original listing price, up from 96.3 percent for homes that sold a year before.

Conventional mortgages were the means of financing transactions in 1,377 cases, followed by FHA-backed loans (567), cash (379) and VA-backed loans (341).

At the end of the month, there were 6,826 properties for sale across the region, down 18.9 percent from the 8,412 of a year before.

Total sales volume for April was $1.19 million, an increase of 16.1 percent from the $1.02 million reported a year before.

Figures represent most, but not all, sales during the period. All figures are preliminary, and are subject to revision.

You can search for homes and sign up for FREE listings by email at www.ErickAndCompany.com.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Take A Drive With Erick Through Westridge

Fri, 11 May 2012 07:24:22 -0700

Take A Drive With Erick Through Westridge

See Homes From 2,100 Square Feet To 6,000+ Square Feet

See Homes Priced From The High $400's To The Mid 600's

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

New Guidelines For Short Sales Benefit Consumers

Wed, 09 May 2012 11:37:18 -0700

New Short Sale Guidelines Benefit Homeowners

Fannie Mae Headquarters in Washington, D.C. Changes in short sale guidelines developed by the Federal Housing Administration should streamline the short sale process for Fannie Mae, Freddie Mac, and FHA insured loans.

Beginning June 15, 2012 loans insured by government sponsored enterprises (GSE) Fannie Mae and Freddie Mac, along with Federal Housing Administration (FHA) loans, will receive an answer for short sale offers within 30 days. Bank of America has also announced it will provide a decision on short sale offers in 20 days. This is a dramatic change from a year ago when the average time to receive a decision for short sale offers was almost 250 days.

The 30 day response requirement applies to all traditional short sale programs of mortgage companies regardless of submitting offers through a standard short sale program, or the Home Affordable Foreclosure Alternative (HAFA) program. The exception for servicing mortgage loans under this new guideline will require providing the homeowner with weekly updates, and making approval decisions within 60 days of receiving offer(s) for purchase.

This extension is designed to allow banks more time to receive pricing opinions to set initial sales prices according to local market values, and approval of the short sales by private interests such as second mortgage companies. This process must be completed providing the homeowner a decision within 60 days. If contract negotiations involve a counteroffer, the borrower has 5 business days to respond. The bank is required to respond to the counteroffer within 10 business days after receiving the response from the borrower.

We have continued to tell homeowners now is the time to sell your home in Northern Virginia. It is a market with low inventory in all price ranges. Creation of homeowner friendly short sale regulations should increase inventories giving buyers more choices. Statistics support our outlook. During 2011 Freddie Mac processed more than 45,000 short sales increasing 140% since 2009. During the same period Fannie Mae short sale transactions reached almost 80,000. An increase of more than 100%. Simplifying the short sale process will increase these numbers. Something to consider if you’re a homeowner considering a short sale.

If you’re considering listing your home we are experienced short sale agents. For more information related to the short sale process, we urge you to read other articles provided in the links below.

The Process of Short Sales and Foreclosures in Northern Virginia

Prince William County Foreclosure and Short Sale Update

Program HR 3548 Short Sale Assistance Program

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Easy Home Search Website For Homes In Woodbridge Virginia

Tue, 08 May 2012 11:40:13 -0700

Find Homes For Sale In Woodbridge Virginia Fast And Easy

Simple Website Gives You The Power To Target Homes That Fit Your Needs

Get Laser Focused On Homes That Fit You

You want to buy a home, but you're not ready to sit down with a Realtor just yet.

I understand.

See the link below for the home search feature on our website that you can use to find homes for sale in the Woodbridge Virginia area.

You can search using a variety of criteria, you can look at the market from different angles.

Best of all, you can get regular updates by email sent to you AUTOMATICALLY.

CLICK HERE NOW to be taken to our FREE home search website.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

You Want To Buy A Home But You Need Credit Repair To Get A Home Loan

Tue, 08 May 2012 11:14:09 -0700

You Want To Buy A Home But You Need Credit Repair To Get A Home Loan

Your Credit Needs To Be Cleaned Up Before You Can Qualify For A Home Loan

You Now Have A Credit Repair Resource That Can Help You Turn Your Credit Around

You want to buy a home, but your credit score is below 620 and lenders are telling you that you cannot qualify for a home loan.

We are now offering a credit repair program in cooperation with a credit repair firm that has been in business since 1997.

You can bypass some of the myths surrounding qualifying for a home loan:

* A bankruptcy doesn't have to stay on your credit report for seven years. Our credit repair service has successfully removed bankruptcy from a credit report in as little as 90 days.

* A foreclosure or short sale doesn't have to linger on your credit report for 10 years. They can be removed from your credit report in as few as 90 - 180 days.

* If you were a victim of identity theft and your credit was trashed, you could hav your good credit restored in as little as 45 days.

* Our credit repair agent recently took a couple who had just sold their home by short sale through our credit repair program, and they bought a home last month.

* You may have false entries on your credit report that need to be removed.

* Tax liens and/or judgments can be removed in 45 - 90 days.

* Your credit scores with all three credit repositories will be repaired for the low fee of just $495, with a 100% Money-Back Guarantee if you're not satisfied.

You can clean up your credit starting today.

CLICK HERE NOW to send an email to our credit repair specialist who will contact you about our credit repair program with a full, money-back guarantee. If you're not satisfied with our service for any reason, you get your fee refunded to you.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

No Wonder Red Bull Is So Expensive....

Sun, 06 May 2012 07:43:56 -0700

No Wonder Red Bull Is So Expensive

I was reading the ingredients label on the back of a can of Red Bull.

At the bottom of the list it says, "Made in Austria".

No wonder the stuff costs almost $3 for a little-bitty can.

Combine the cost of shipping with the low value of the dollar compared to the Euro, and you'll see why we pay so much for the stuff.

I don't drink it often, but when I feel the need for a cup of coffee, I'll drink a sugar-free can of Red Bull and it makes me feel like I've had a cup of coffee.

Now I understand why it is so expensive.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Home For Sale At County Center In Woodbridge Virginia

Tue, 01 May 2012 09:11:27 -0700

Home For Sale At County Center In Woodbridge

Lovely Home With 3 Finished Levels

Model Home Condition And Move-In Ready

Take a tour through this newly listed home on Taverner Loop in County Center.

Want to see more? Watch the video below to see all 3 levels of this lovely home.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Real Estate Investment In A Builder's Model Home

Wed, 02 May 2012 10:47:31 -0700

Real Estate Investment In A Builder's Model Home

Get Instant Equity And Positive Cash Flor For 2-4 Years From The Builder

You Could Own A Model Home

I have a new home builder lease back opportunity. It will sell fast so if you know anyone interested please reach out to me right away. We expect to have two additional model lease backs in the upcoming months these will be located in North Stafford and Fredericksburg.

Attached you will find my cost estimate for the Model. Also here it the link to the Misthaven Model Floor Plan we are building at Brentsmill in Stafford.

The Base Price of this home is 339,990

This Model is being built and will be Sold at $399,990 with $2600 month lease back for 12 month. PITI will be roughly $2,000 per month. That's $645 positive cash flow using a 20% down investor loan at 4.5% with an APR of 4.538 APR

$5,000 towards closing costs with the use of NVRM

$2500. Waived Loan Origination Fee with use of NVRM*

Please if you know anyone interested in builder lease backs have them get in touch with me I will three others coming up in the near future. We always sell them before we build them and then lease them back. This location is ideal just south of Quantico!

I presently have 20% down @ 4.5% Fixed and I know NVRM also has a 15% down program. I have also requested to see if they have an Arm. At the present rate Investor would have $572.00 positive cash flow a month!!

Hurry this will not last long!

* NVRM is NV Residential Mortgage

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

New Homes For Sale In Woodbridge Will Tell You Which Way The Market Is Moving

Wed, 02 May 2012 09:42:25 -0700

New Homes For Sale In Woodbridge Will Tell You Which Way The Market Is Moving

New Home Prices In Woodbridge Virginia Tell You That We Are In A Rising Market Of A Falling Market

New Homes Are Still Offer You Good Value For Your Money Right Now

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Deposit vs Down Payment And Closing Costs In Woodbridge Virginia

Sun, 29 Apr 2012 08:09:06 -0700

Deposit vs Down Payment And Closing Costs In Woodbridge Virginia

How Your Earnest Money Deposit With A Contract Is Handled At Settlement

No Mondy Down Payment Mortgages

Erick Blackwelder gives you a quick overview of what happens to your deposit you gave to your Realtor at the time you contracted for your home in Woodbridge.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Just Listed Single Family Home Fully Finished In County Center Below $500,000

Wed, 25 Apr 2012 06:48:11 -0700

Just Listed Single Family Home In County Center Below $500,000

Three Fully Finished Levels With Big Recreation Room In Lower Level With Bar

Maturing Landscape Makes This Home Look Stately

Just listed for just $450,000.

A single family detached home in sought-after County Center with neutral decor, top-of-the-line fixtures, 9 foot ceilings, and over 3,000 square feet of finished living space.

Large kitchen with center island and extra storage in 42" cabinets, and a space for a table in the kitchen.

Gas log fireplace warms up cold winter nights.

This home is conveniently located near Harris Teter and Safeway grocery stores. You can also get to park and ride commuter parking lots in just a few minutes up the Prince William County Parkway.

County Center has a pool that is included in your home owners association dues, You also get a large tot lot and tennis courts included in your home owners association dues.

CLICK HERE NOW to take an online photo tour of this lovely home, priced at just $450,000.

Call you Realtor for a physical tour of 13000 Taverner Loop in County Center.

If you don't have a Realtor, call Erick Blackwelder at 703-677-1120 for a no-hassle private tour of this lovely home.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Lowball Offers On Homes In Woodbridge Are A Waste Of Time

Mon, 23 Apr 2012 09:31:51 -0700

Lowball Offers Are A Thing Of The Past In Woodbridge VA

Homes In Woodbridge That Are Properly Priced And Staged Sell Fast

Prices Are Still Way Below 2006 Highs

WASHINGTON — It’s not something that economists routinely track, but it provides a rough sense of what’s happening in local real estate markets. Call it the lowball index.

A year ago, according to researchers at the National Association of Realtors, one out of 10 members surveyed in a monthly poll complained about lowball offers on houses listed for sale. In the latest survey -— conducted during March among a sample of 4,500 agents and brokers across the country and not yet released — there were hardly any. Instead, the focus of volunteered comments has shifted to declining inventory levels — fewer houses available to sell — and multiple offers on well-priced listings.

A lowball offer typically involves a contract submitted to a seller where the price proposed by the purchaser is 25 percent or more below list. Lowballs increase sharply when there’s a glut of properties available, asking prices are out of sync with local economic realities, and values are depressed or uncertain. Buyers figure: Hey, why not? Maybe I’ll get lucky.

Based on the latest survey results, sort of strategy is not a winning move in many communities this spring. In fact, in local markets where inventories are tight and competition for homes rising, realty agents say that buyers looking to steal houses by lowballing their offers are ending up at the back of the line — their contracts either rejected out of hand or countered close to the original asking price.

In high-demand, high-cost markets that have rebounded from recession slumps, sellers are now firmly in control; they pay scant attention to lowballers. Jayne Esposito, an agent with Coldwell Banker Residential Brokerage in Los Gatos, Calif., says that multiple offers are “the rule, not the exception,” in her area, and many transactions end up with final contract prices higher than the listing. “Sure, I’ve had a few buyers try to lowball and they wouldn’t listen,” she said in an interview, “but that didn’t work out well for them.”

Similar trends are under way in more moderately priced markets. Wes Neal, an agent at Prudential Olympia in Olympia, Wash., said “lowball offers are down a lot because we’re seeing more homes come on the market that are more realistically priced” — sellers have absorbed the hard lessons of the recession years about what the market can bear. Even when buyers submit shockingly low bids, sellers no longer are so insulted they send the contract back without a counter-offer. Now they negotiate aggressively and the final number ends up close to the original asking price. For example, Neal said, a buyer recently came in with a bottom-fishing offer of $150,000 on a house listed for $250,000. Though the seller was irritated, after a series of negotiations the lowball buyer settled for a final price of $230,000.

Outside Washington, D.C., in the Northern Virginia suburbs, well-priced houses in good locations move fast, sometimes pulling in multiple offers within 48 hours of listing, says Chris Ann Cleland, an agent with Long & Foster Realtors. Sellers who encounter the occasional outrageous lowball offer reminiscent of the recession years tell listing agents “don’t even bother” with them. After all, there’s an excellent chance there will be a realistic offer shortly — maybe more than one.

In the suburbs south of Chicago, Judy Orr, an agent with Classic Realty Group in Orland Park, Ill., says lowball frequency and efficacy depend on the specific neighborhood or town. “We still see them, and we try to work with them” in communities where prices are soft and the impacts of tough economic times persist, she said. Elsewhere, though lowball offers are down, she urges sellers to stick with it and negotiate. Recently a lowballer came in $40,000 below the asking price. Through negotiations with the buyer, Orr managed to close the gap to just $2,000 below asking.

Marnie Matarese, an agent with J Wood Realty in Sarasota, Fla., said that while lowball offers are far fewer this spring, some out-of-town buyers still appear to be under the impression that all Florida real estate remains depressed. They insist on submitting offers that make no sense in today’s environment. But Matarese has no problem with this — “you can’t blame a buyer for trying to get a good deal,” she says, but the fact remains: They usually risk losing the house.

The takeaway here: Rolling lowballs at sellers may have been an effective approach between 2008 and early 2011. But in 2012’s environment — at least in rebounding markets — it could be counterproductive if you truly want to buy.

Thank you to Kenneth R Harney for this insightful article.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Economic Gibberish And What It Means To You

Mon, 23 Apr 2012 09:00:27 -0700

Economic Gibberish And What It Means To You

Year To Date Economic Report Translate Into English

Good News About The Economy

Retail sales rose 0.8% to $411.1 billion in March. This follows a downwardly revised 1% increase in February. On a year-over-year basis, retail sales increased 6.5%.

English translation: Retail sales are a strong component of the economic engine of our nation. Strong retail sales mean more production by manufacturers as consumers gobble-up their goods and services.

The National Association of Home Builders/Wells Fargo monthly housing market index fell three points in April to 25 from a reading of 28 in March. It was the first drop after seven consecutive monthly gains. An index reading below 50 indicates negative sentiment about the housing market.

The new homes market is stong and holding steady. New home sales also drive the economy because home building increases jobs, and drives production of durable goods, such as appliances, fixtures, and building components.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending April 13 rose 6.9%. Refinancing applications increased 13.5%. Purchase volume fell 11.2%.

This is a tricky one. The number of new home loans increased, but the total dollar volume of new loans was lower than last month. Got it? More loans, but 11.2% less total dollar volume. The number of folks who applied to refinance existing mortgages increased 13.5%, meaning fewer homes are "under water" and folks have enough equity to refinance their existing home loan to a lower interest rate.

By the way, the interest rate on a 15-year home loan hit an historic low this month, and we're seeing more and more folks applying for a 15-year mortgage

The combined construction of new single-family homes and apartments in March fell 5.8% to a seasonally adjusted annual rate of 654,000 units, after a decrease of 2.8% in February. Compared to a year ago, housing starts are up 10.3%. Applications for new building permits, seen as an indicator of future activity, rose 4.5% to an annual rate of 747,000 units.

This is another tricky one. Let me rephrase it for you. Housing starts were up 2.8% over 2011 in February. In March home starts were 5.85% off the 2.8% growth in february. For example, pretend for a moment that new home starts were up up by 280,000 over last February. in March, starts were 5.8% off, or 16,240 new starts in March. No big deal.

Existing home sales fell 2.6% in March to a seasonally adjusted annual rate of 4.48 million units from an upwardly revised 4.6 million units in February. The inventory of unsold homes on the market decreased 1.3% to 2.37 million, a 6.3-month supply at the current sales pace.

This is another tricky one, because it lumps all national home sales into one bucket, then measures the contents of that bucket. Home sales are all local. When we look at the "Sand States", Nevada, Califirnia, Arizona, and Florida, we see home sales in those states in the toilet. When we look at the Washington DC area, home sales across the spectrum of prices are on fire... multiple bids and bids over list price are common.

You can see homes for sale right now at our website, and sign up for daily updates of homes for sale that fit your wish list. CLICK HERE NOW to start your home search.

Initial claims for unemployment benefits for the week ending April 14 fell by 2,000 to 386,000. Continuing claims for the week ending April 7 rose by 26,000 to 3.29 million.

Unemployment rates are a leading indicator of home loan rates. A rise in unemployment means lower rates.

A big "Thank You" goes out to David Solyment for providing the gibberish for me to translate into English.

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.

Space Shuttle Over Virginia

Wed, 18 Apr 2012 11:31:08 -0700

Space Shuttle Over Virginia

A Client Snapped This Photo From His Office In Crystal City

Shuttle Discovery Shall Be Housed At Smithsonian Air & Space Museum At Dulles Airport

CLICK HERE NOW to search the Multiple Listing Service (MLS) for homes for sale in and around Woodbridge and Prince William County.

"Hey Erick, I have a question...."

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy)703-590-2252 (Office).

Give us a call and we can "GET YOUR HOME SOLD FAST".

You can hire us to sell your home in Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Gainesville, Garrisonville, and Triangle.

You can hire us to help you buy a home throughout all of Prince William County Virginia. Manassas Park, Haymarket, Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, and Dale City.

Equal Housing opportunity.