Aug. 14, 2007 - Prince William County Real Estate Market Statistics for July 2007

This month we had a decrease in Active listings from 6537 in June to 6491 in July while new listings also fell from 1772 to 1639. The number of properties Under Contract actually made a modest improvement from 318 last month to 367 this month while the number of Contingent properties dropped slightly from 198 last month to 154 in July. The Actual List Price average for homes Sold rose from $402,031 in June to $427,372 in July. The Days on Market average for homes sold limped forward by 3 days from 106 in June to 109 this month while the number of housing units Sold fell dramatically from 511 last month to 407 in July.
-Keith

RE/MAX Olympic, Manassas VA Http://www.MyRealtorKeith.com

Aug. 14, 2007 - Curb Appeal - You Either Have it or You Don't!

Curb Appeal - You Either Have it or You Don't!

I spend much of my time in my car driving around going through subdivisions looking at homes. It's important, it's my career, and it's how I help people.

When I see a "For Sale" sign in a yard I often stop and take a quick visual on the property, then I jot down a few notes regarding the address and external condition and I'm on the road to my next appointment.

I'm amazed at the number of properties I've seen where the bushes are overgrown, the ivy vines are up to the roof, the flower beds are a mess, there are random piles of debris in the yard, and there are trees LITERALLY growing out of the rain gutters! Then I secretly wonder if the real estate agent even mentioned the exterior issues in the Listing Presentation or, if they just kept quiet and were thankful just to get the listing. Maybe some just don't care. I don't know. I personally would rather be upfront and tell the Seller that they need to address those issues before I take the listing. And most happily do so. They are motivated and they want to sell their house. Every once in awhile I'll turn down a listing because in my heart I know it would take forever to sell that house even at a discounted price. Now, for the Seniors I work with, I try to find someone capable of performing the job for them at the least minimum cost, that includes finding someone able to help them reduce all the clutter they have accumulated over the years. If they have children (my age) I usually just give them some pointers and they take care of the rest. I've been known to get in there and lend a hand as well.

But, in this period where the average "Days on Market" exceeds 200 in some areas you would think more Sellers would be tuned into this. They should want their house to be the shining jewel of the block! I look at it this way, if I were a Buyer and I was driving by one Saturday morning to see if this was a house I wanted my Realtor to check on for me...I would pass it by. Because if the outside looks rough then there's a very good chance the interior might even be in worse condition.

So, if you are thinking about selling your present home or buying a new one...keep this in mind. But, hey...you probably know this already and are way ahead of the game. Well, I'd love to tell you more but, you see...I have a few bushes in my own yard I need to trim. :-)

Peace to all,

-Keith

RE/MAX Olympic, Manassas, VA
Http://www.MyRealtorKeith.com

Jul. 27, 2007 - 4 Tips for Cooling Down Your Energy Bills

4 Tips for Cooling Down Your Energy Bills

You know August is approaching when temperatures are heating up and air conditioners seem to be constantly humming — and staying cool is on everyone's mind.

But many home owners are equally concerned about how they can cut down on their energy consumption and reduce their monthly cooling bills.

The American Council for an Energy Efficient Economy (ACEEE) has a few suggestions:

• Clean or replace air filters in air-conditioning units to keep cool air moving and to reduce electricity consumption.
• Have an air conditioner tune-up performed by a qualified contractor.
• Make sure your attic, which traps a lot of hot air, is adequately insulated.
• Replace old equipment. A new high-efficiency unit not only pares down utility bills; it can help you qualify for a federal income tax credit. But before you buy something new, do your research. “Often people are so desperate to replace their equipment that they don’t take the time to research the investment, locking themselves into high cooling bills and less comfort,” says ACEEE researcher Katie Ackerly.

Jul. 20, 2007 - Preapproved or Prequalified: What's the Difference?

Preapproved or Prequalified: What's the Difference?

Confusing prequalification with preapproval can mean disappointment for both a home seller and a buyer. Real estate experts say it's smart to urge buyers to become preapproved by their lender – not just prequalified.

For buyers to obtain a bona fide preapproval, they must submit a loan application with the necessary documentation and fee. After the lender verifies and analyzes the application, it will notify the applicant of how much money he can afford to borrow. Armed with that information, the buyer can confidently go home shopping.

Prequalifications are simply an estimate of what a buyer can afford. A buyer who assumes that this estimate is accurate and chooses a home based on the information may, in fact, be denied a loan when he actually applies. That results in a situation that wastes his time and can put a seller in an a bad position if they've already turned away a qualified buyer. And, of course, it wastes the real estate practitioner's time as well.

Source: Kiplinger’s Personal Finance Magazine (08/01/07)

Jul. 19, 2007 - Prince William County GIS Website

A few days later he called me again. This time he had a few questions related to how he and his wife would get qualified and how I could help them write up the "offer". We plan on meeting this Sunday. As we were about to hang up, he told me how happy he was that I was able to point him to that county website. It made me feel good that I was able to help him get the information he wanted so quickly even though, it was only to a website.

I started thinking about his question and about how informative the site really is so I'm posting the link to it as well as some screen shots for others who might benefit from it.

http://www4.pwcgov.org/countymapper/

If you get stuck and are not sure what to do...they have a Help Page. It is located at http://www4.pwcgov.org/countymapper/help/help.htm

It's a good life!

-Keith