Bill Byrd Virginia Beach Real Estate

Last month Bill Byrd from the Byrd Realty Group hosted the Charfen Institute's "Certified Distressed Property Expert" training and agent designation course in Virginia Beach.

In an effort to increase agent awareness and promote skill building within the industry Bill Byrd invited 65 top agents from Hampton Roads to participate in this "market of the moment" training. As a CDPE, Mr. Byrd feels that the CDPE is the only designation that provides real estate professionals with specific understanding of the complex issues confronting distressed homeowners.

Through comprehensive training and experience, CDPE-designated agents are able to provide solutions for homeowners facing financial hardship in today’s market. Additionally, this course gave attending Real Estate agents the opportunity to pick up valuable Continuing Education credits while earning their CDPE designations as well. “The real estate market has changed so dramatically in the last few years and we, as agents servicing our community, need to beup on the latest trends and information available. With so much information on the web these days, it is hard for consumers and agents to know where to turn for the right information. I have found that the Charfen Institute has put together the most comprehensive and thorough programs available for training agents on the intricacies of handling distressed property situations.” Byrd said. “The goal of this event was to help local agents and myself, attain a greater understanding of these difficult transactions. In turn, we will be able to help more families in our community avoid foreclosure on their homes.”

The December event was a raving success and all attendee's have since agreed to participate in monthly mastermind sessions geared towards a greater understanding of the changing trends of the distressed property market in Hampton Roads.

Bill Byrd and his team of Virginia Beach Short Sale Experts have developed the website (http://www.stop-virginiaforeclosures.com/) to provide free information to homeowners to help them avoid the negative financial impact of foreclosure.

The community resources available at http://www.stop-virginiaforeclosures.com/ define foreclosure alternatives including short sales, loan modifications, and forbearance.

“Through no fault of their own, because this process can be so unbelievably complicated, very few members of our community know their options when they start to fall behind on their mortgage payments,” Byrd said. “If they act quickly and get informed, they can make informed decisions to find financial stability. They have options and CDPE’s know what those options are and can help families navigate around all the myths and scams. I've seen websites that are dedicated to showing people how to walk away from their properties and I can’t begin to tell you how financially devastating that would be.”

Foreclosure alternatives such as short sales—which now make up over one-third of real estate closings across the nation—are an increasingly popular way for both homeowners and lenders to minimize their losses in this tough economy. “More lenders are realizing that they can save money in a short sale versus a foreclosure, and are more likely than they were three years ago to approve a short sale offer.” Byrd said. “This is good news for homeowners because they now have more options than ever.

CDPEs can help the families of Hampton Roads find a dignified way to avoid foreclosure. We need to act now.” In conclusion, Aaron Rice was an excellent speaker and trainer! Full of energy and passion Aaron delivered the course material with enthusiasm as he shared his expert knowledge on the subject of Distressed Property. Not just a trainer...Aaron's real world experience from being a top distressed property expert in the Baltimore Maryland area was refreshing, bringing straight forward and practical methods for helping homeowners with solutions and options to difficult issues.

For more information about this the Charfen Institute go to: www.cdpe.com

Every year in the history of Virginia Beach Real Estate, the time period between November 1st and about January 15th, has been the "Sweet Spot" for Home Buyers in Virginia Beach!

The "sweet spot" as defined in Wikipedia..."A sweet spot is a place where a combination of factors results in a maximum response for a given amount of effort". more at Wikipedia

What this means for home buyers in Virginia Beach is that every year this has been the best time to buy a home in Virginia Beach and make your best deal for 7 great reasons. Also to discover 7 more reasons why now is the best time to buy a home!

1. Inventory hangover. Home sellers in Virginia Beach that have been unsuccessful selling their homes in the spring, summer and fall begin to realize that if they don't sell their homes now, before the new year, there is a good chance they may not be moving until the spring. The most motivated home sellers in Virginia Beach are really motivated now!
2. Less inventory to chose from. Yes, this is a time when less is actually better. The unmotivated sellers have taken their homes off the market for the holidays! They don't want to be bothered! You should be glad! Now you won't have a cluttered market full of unmotivated sellers' homes. For you, as a Home Buyer in Virginia Beach this means less work seeking out the motivated Virginia Beach Home Sellers!
3. Less competition from other buyers. For the same reason as above, most investors and Home Buyers in Virginia Beach also take time off during the holidays too! In fact, in my opinion, the best time to write an offer is during or imediately before a major holiday. Most of your investor/buyer competition, as well as most agents have also taken the holiday off! Yea! This is your opportunity!
4. Lenders are hisorically less busy--better terms, rates and service!
5. Attorneys and title companies are less busy--better service, quicker turn around, and more man power available to solve unforeseen problems if any arise.
6. If you can close before the new year, January 1 is a great time to put a new tenant into a home. There is a lot of tenant movement around the new year.
7. From January 1 thru January 31st we're back to normal! There will be more new, optimistic sellers that have not yet experienced the buyers' market yet! There will also be more buyer competition from other would-be investors, as well as first time home buyers. To quote the Grinch..."noise, noise, noise"!

Obviously if you think about it for a while, you can come up with a few more good reasons to buy a home in Virginia Beach before the end of the year. Here are 8 Great Reasons to Invest in Real Estate in Virginia Beach Now!

Hopefully, the great tips and information here will help confirm to you that you are now in the Home Buyers Sweet Spot in Virginia Beach!

In my daily activities as a Real Estate Professional I am often asked by my clients questions about preparing an older home for sale. It is not uncommon that we are asked to sell older homes for people that are in one of the following categories:

• Moving to a smaller home after raising a family and living for a long period of time in the same home.
• A son or daughter helping an elderly parent sell the family home.
• A person that has inherited a home that they will not keep.
• A person selling a home that has not been maintained with an eye on selling in the near future.

Below is a copy of an email I recently sent to one of my current clients who is preparing an older home for sale. He is preparing to sell his parents home to help with extended care costs for his mother. I hope this will give you an idea of what you might encounter in preparing an older home for sale. (My notes are in Red) Keep in mind each home and selling situation will have a different set of suggestions based on the current goals and financial conditions of the market, the seller, the home, and of course the decision makers. Many things need to be considered when preparing an older home for sale.

Email to Client

Dear _______,

Thank you for meeting me yesterday at your mothers home. Below are my recommendations for preparing an older home for sale. These suggestions are designed to improve your chances for a higher sales price by removing the any potential objections, eliminate distractions and improve the homes curb appeal. Eliminating distractions and objections are the main goal...you have to get the buyers focus away from what's wrong with a property!

Exterior:

1. Remove lower branches of the Magnolia to just above the roof line so the home can be seen from the street. (I have an affordable tree trimmer) It is important that the home be visible in the photos used online.
2. Lower all Shrubs to just below the bottom of the windows. (I have a great landscaper)
3. Remove Cedar Bush in Front. Overgrown landscaping will dwarf a home, making it seem smaller and reducing the curb appeal.
4. Clean Window and Screens.
5. Pressure Wash Exterior Trim. Clean and fresh is the goal. Think of it like a military uniform inspection!
6. Clean Gutters and Re-hang as needed.
7. Remove miscellaneous items in the rear yard. (Buckets, yard ornaments etc.) (I have crews that will remove what you do not want to keep) If it doesn't have a purpose...it goes.
8. Remove or trim back growth from the rear sun room for access to decking area. Create space between the shrubs and home...make it breathe.

Interior:

(In the perfect world) Remove contents of the home. (I have crews that will remove what you do not want to keep)

1. Smaller homes feel much bigger when empty. There is away's the issue of whether to stage a home or not. If you stage a home you want to use new stylish furniture. Vintage chairs, couches and tables are not suggested, they trigger questions about the furniture and who lived in the home before it was on the market and what happened to them? It takes the buyers focus away from looking at the home and how the new buyer would live in the home.
2. Remove personal items. Personal items take the buyers focus away from feeling the floor plan and experiencing what the home offers and how they would live in the home.
3. Pull all carpets to expose hardwood floors. In this homes case the carpets were older and a little stained but the hardwood beneath had never been exposed so they were in perfect condition!
4. Have thoroughly cleaned. (I have cleaning crews I can suggest) Clean, no dust or debris! Consider using professionals...always!

Systems:

1. A Pre Listing Home Inspection can give you an idea about what you may come across in an after sale inspection and is often a good idea with an older home that has been unoccupied. The big issue is that because of the VA Seller Disclosure Law you would then have to disclose any defects that you weren't willing to fix or repair.
1. Benefits would be that you won’t be surprised later, you can fix an item discovered before it becomes worse and have a better shot a keeping a deal together by avoiding a buyer walking away because of the results of a Home Inspection.
2. Downside…possible repair/replacement expense up front!
2. Offering a Home Buyer Home Warranty may be another idea to consider.
1. A Home Warranty will cover the systems of the home during the listing period and typically for 1 year after the sale for the buyer. Great if something breaks or dies before the sale. (Just can’t be a pre-existing condition or issue. That is determined by the repair person on the visit) No pre-warranty inspection is required.
2. Good news is that your home is covered but you don’t have to pay for the warranty until closing!

Sincerely,

Bill Byrd

Keller Williams Realty

I hope you've found the copy of the above email and my notes on preparing an older home for sale helpful. Keep in mind every situation is different and will require a unique set of solutions customized to what each property needs. Making these types of recommendations and suggestions when preparing an older home for sale are well within the scope of an experienced real estate professional.

Below are a few more tips and types of suggestions that you might encounter when preparing an older home for sale or any other home for that matter!

Other tips to consider when preparing an older home for sale:

Exterior

• Keep the grass freshly cut.

• Remove all yard clutter.

• Apply fresh paint to wooden fences.

• Paint the front door.

• Weed and apply fresh mulch to garden beds.

• Clean windows inside and out.

• Wash or paint home's exterior.

• Tighten and clean all door handles.

• Ensure gutters and downspouts are firmly attached.

Interior

• Remove excessive wall hangings, furniture and knickknacks (consider a temporary

self-storage unit).

• Clean or paint walls and ceilings.

• Shampoo carpets.

• Clean and organize cabinets and closets.

• Repair all plumbing leaks, including faucets and drain traps.

• Clean all light fixtures.

For Showings

• Turn on all the lights.

• Open drapes in the daytime.

• Keep pets secured outdoors.

• Play quiet background music.

• Light the fireplace (if seasonally appropriate).

• Infuse home with a comforting scent like apple spice or vanilla.

• Vacate the property while it is being shown.

Bill Byrd has be licenced since 1986 and has been a Listing Specialist his entire career consistently selling a high volume of real estate every year. Currently his team is experiencing a great year and is available to help anyone in Hampton Roads with their real estate needs and goals!

In this inside look at what to expect from your Home Inspection in Virginia Beach and Hampton Roads we first must give you one simple basic rule! Don't buy a home without a Home Inspection! Home Inspections are great for "peace of mind" or running for the hills and getting out of that deal as fast as possible when you think you might have bought a lemon! With that said, most issues discovered at Home Inspections are easily remedied and simple fixes that just take a little extra time to work out.

Tips: When buying a home in Virginia Beach and Hampton Roads always hire a Professional Home Inspector. Home Inspectors that have taken the time and effort to get special designations or have become a member of the National Association of Home Inspectors have invested in their careers. That is always a good sign that you are dealing with a serious professional. But…keep in mind that…obviously any designation or membership is not worth its weight in the wrong hands! References from you real estate agent or friends that have recently bought a home could prove to be valuable. Typically, if your agent is representing you and your best interest their recommendation will be the best. Real Estate agents deal with numerous inspectors monthly and often can suggest 3-5 of the best in the business off the top of their head!

When buying a home in Virginia Beach and Hampton Roads you may want to think twice about hiring a friend or a family member to do your inspection. It makes negotiations with the sellers to correct issues discovered by the home inspector much simpler to have an unrelated professional third party perform the inspection. No seller is going to trust the findings of a friend or family member of a buyer to be a non-biased look at the quality of their home. A seller will always think the inspector has a motive other than an objective assessment when he or she knows the inspector is a friend or relative of the buyer. For a smooth flowing negotiation, I recommend a third party pro to do the job!

When buying a home in Virginia Beach and Hampton Roads be present at the home when the Home Inspector reviews your report. This is so you can visually see any problems and discuss the possible solutions with the inspector while you are still at the home. This avoids the inconvenience of a return trip. Also being present will help you have a clear picture of the problem when you can see it first hand with the inspector while he explains the importance of his discovery. There is nothing harder for an inspector to do…having to describe a problem or issue over the phone hours after he has left the property! Furthermore, there is nothing harder for a buyer to grasp than an explanation over the phone without any visual representation of the problem or issue as a reference to see!

When buying a home in Virginia Beach and Hampton Roads tap into the Home Inspectors experience. Home Inspectors are great resources for home maintenance ideas and preventative solutions to avoid future maintenance issues. A simple tip related to draining water away from the foundation or removing a woodpile next to the home that could attract termites are the priceless types of tips you can expect from a veteran Home Inspector!

When buying a home in Virginia Beach and Hampton Roads keep in mind that Home Inspections are for the major systems of the home, not cosmetic elements such as marks on walls or poor paint jobs. Cosmetic issues are best addressed in your initial offer. For example, if you want the seller to paint the gutters…write it into your contract and do not leave it to chance! Read your contract carefully; know what and more importantly, what is not, part of the inspection process. Read your contract thoroughly before you sign the initial offer...once your offer is accepted the terms of the contract are the reference point for condition and repair responsibilities! Never assume anything in real estate...it might cost you!

So in conclusion, when buying a home in Virginia Beach and Hampton Roads always get a home inspection, hire a pro, listen to their advice, know your contract and never assume anything. If you would like a list of the Home Inspectors that we have done business with over the years send us a a note at our Byrd Realty Group web site and we will be happy to help!

If your interested in picking up a bargain in a great location look at Buying a Short Sale in Little Neck Virginia Beach...take a look at some of the Little Neck Short Sales below!

Click> Little Neck Short Sales < to see these homes below:

3604 Trading Place Lane

3612 Sea Breeze Point Trail

3109 Rivers Edge Cove

1344 Harris Road

1252 Southfield Place

953 Hurds Road

Often Short Sales are already price as good deals but that doesn't mean you shouldn't do your homework. If any of the Little Neck Short Sales below interest you, let us provide you with the current Little Neck market data so you can make an educated assessment of the properties value.

The Byrd Realty Group can certainly help guide you through the process, we are Short Sale Experts in Virginia Beach. A title we don't take lightly! Short Sales are a unique type of transaction with many hurdles and pitfalls to be aware of, however they do represent the opportunity to buy a home at a serious discount from current market values.

Fill out the form below to learn more about Buying or Selling a Short Sale in Little Neck in Virginia Beach or Little Neck Short Sales.