Northern Virginia Winters: Snow Isn't Out of the Question Until We Hit April
It was a balmy seventy degrees this afternoon in Bristow, VA. I found myself flinging open the windows since I was sweating in my own home. Heck, to walk around the block I had to change into my summer workout clothes. My neighbors are on Facebook bemoaning the mild weather, complaining that we've had no winter.
I like snow as much as the next guy. The last winter we had blizzard upon blizzard (2009-2010) my husband and I had a sledding trail in our back yard that became down right treacherous as it melted during the day and iced over at night. The wrecks we had were epic. One night when I was thrown from the thing at the speed of Clark Griswold in Christmas Vacation, I thought I had broken my hip. After a few minutes of crying and moaning on the ground, it was back to sledding.
While I love snow, I am enjoying this mild winter we are having, but I'm not foolish enough to call winter over. I've lived in Northern Virginia my whole life. Some of our most notable storms have happened in February and March. The forecast temps may be in the high forties and fifties for the next ten days, but winter in Northern Virginia isn't over until I see April on the calendar.
Selling Your Short Sale AS-IS? Great! You'll Still Be Wise to Get It SHOW READY.
There's been a lot of discussion in my Northern Virginia real estate business this week about the meaning of AS-IS when it comes to selling a Short Sale. There are two issues that seem to come up again and again.
You can't sell your home in a Short Sale if you can't get a buyer to write an offer. The homes in the Northern Virginia marketplace are show ready. That means they are clean and decluttered. If you can't bear to do either of these things, you are going to have a hard time finding a buyer willing to save y
ou from foreclosure. It takes some effort to get a home show ready, but it is worth it if you are serious about avoiding foreclosure.
If a home is vacant, having utility service on in the home is strongly advised. It helps the property show well and it will be mission critical if you end up under contract with a buyer that has an appraisal contingency. The appraiser will not complete an appraisal if the home does not have the utilities in working order when they arrive. So if you want your buyer to get their loan, you better keep the utilities on.
Clearly, if you are having financial difficulty and keeping the utilities on in the home is a burden, make sure that your buyer is the one contractually obligated to have the utilities turned on. In it's boiler plate form, the Northern Virginia Regional Sales Contract makes it a seller's sole responsibility to have the utilities in service up to and including the date of settlement.
When you are selling a home in AS-IS condition, it means you are not obligated to make repairs. That's what AS-IS means. It doesn't mean a buyer is expecting to run around in a cluttered and messy home. It doesn't mean that you have no contractual obligation to keep utilities in service. It just means that a buyer is made aware that repairs needed on the home will be at their sole expense.
Contrary to Popular Belief, Banks Aren't Giving Homes Away
Ever heard one of those radio commercials offering a free list of foreclosures and talking about how you could buy a home for as little as $20,000? When you come across offers like that, I want you to think about the phrase you probably heard your parents say, "If it seems too good to be true, it probably is."
Contrary to popular belief, banks aren't in the business of giving homes away, or selling them for substantially less than market value. Even without insane offers to home buyers in Northern Virginia of being able to buy a single family home for five figures, list prices of bank owned homes get home owners around the listing all riled. You hear them say things like, "The banks are killing the value of my home. Why should I be punished for other people not paying their mortgage?"
Here's the reality, and let me warn you, you may not like it. Values don't tank because banks sell for lower than market value. Banks, who have no emotional attachment to a home and who need to sell, find market value (the price a buyer is willing to pay) a lot faster than home owners who have lived their lives in the home they are selling. The former can come to a number on a contract and say yes, far easier than the latter.
Market values fall when supply increases and demand decreases. It is not the banks fault. Believe me when I say, banks wants as much money as they can get on the real estate they find themselves repossessing. They are losing far more money than individual home owners can comprehend. They aren't evil. They are in the business to make money. If they could sell the home they now own for as much as the neighbors think their homes are worth, they would do it in a heartbeat.
Blame supply and demand, not the banks, for sinking market values. When the demand increases, the banks will be asking for more money and prices will increase. Until then, realize that any one who owns a home, be it an institution or a family, wants to make as much money as possible when they sell.
Can You Offer Less Than the Approved Price on a HAFA Short Sale?
This was a question that came across an Internet forum last night from a buyer in Bristow, VA. Questions that buyers have regarding Short Sales are often best answered by starting from the listing side.
When a seller has been approved for a HAFA Short Sale, there are three things they are gaining.
1) The absolute certainty that their Short Sale is going to be approved.
2) A guarantee that there will be no deficiency judgment issued against them.
3) A monetary incentive in the form of $3,000 to help them relocate.
Sellers are given 120 days to get a contract that meets the terms laid out by HAFA. This includes a pre-determined sales price. The Short Sale bank has already determined the value of the home and given the Listing Agent a net sales price that must be received. So the Listing Agent will determine a fair list price by taking the commissions to be paid, any closing costs that may be typical for a buyer to receive and closing costs of the seller into account and adding them to the net required by the bank. In some cases, if you call the Listing Agent and ask if the list price reflects closing cost assistance you may not need, you can lower the offer by that amount and the seller will still be gaining their HAFA benefits.
Going lower than what HAFA has laid out as acceptable is not something a seller, particularly when they have time left in their 120 marketing period, is likely to do. The time when a seller will see that trying the route of a traditional Short Sale, without the benefits of HAFA, is when they are nearing the end of the 120 day marketing period and, as such, facing foreclosure.
The best thing a buyer can do when looking to make an offer on a HAFA approved Short Sale is to consult with an experienced Short Sale Agent that they can have representing their side of the transaction. An experienced Short Sale Agent is not just for sellers, but buyers too. What buyer wants to waste their time in a contract that is going nowhere? Get the same level of knowledge you would insist on if you were the one selling in a Short Sale. Get yourself an experienced and successful Short Sale Agent and the difference between legitimate opportunities and time wasters will become clear.
Buyers Need to Stop Getting Caught Up in List Prices
There are all kinds of buyers out there in the Northern Virginia real estate market. Some don't take the list price into account at all and bring in low-ball offers on every property they wish to pursue. Then there are those who have a mental block with list prices. Maybe they would offers $10,000 or $20,000 less on a home, but they are caught up in the actual sales price having to be the list price.
Don't let a list price stop you from making an offer on a home. I was speaking with a buyer the other day who had their eye on a listing for more than a month. The list price was the hold up, the impediment to putting together an offer. I asked the buyer if they would be upset if another buyer came along and got the home for $10,000 or $15,000 less than list price. I also conveyed if the answer to that question was yes, there was no reason to NOT make the offer. The worst the seller is going to do is say no. The buyer is already assuming that by not making the offer!
List prices are suggestions. Obviously, a good game plan when it comes to making an offer is having your agent run comparable sales and figure out what the most probably sales price of the home will be. That can be very helpful in determining where to start the negotiations. Of course, there are no negotiations if you don't start the conversation with an offer.
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Associate Broker, Licensed in VA, serving Prince William, Fairfax, Fauquier & Loudoun Counties. Specializes in Listing & Selling Northern Virginia Short Sales. VREB Certified Short Sale Instructor.
In February 2005 I started my career as a Realtor®, having no idea what was in store for me. I had graduated with a BA in Communications from George Mason University in 1993 and spent years in the newspaper and radio industries, so I was certainly stepping into an unknown world. The satisfaction I have found in my real estate career is beyond anything I could have imagined. Helping my buyers and sellers navigate the transactions that involve their largest finanical investment is rewarding each and every time.
Since beginning real estate in 2005, each year has been better than the last. Because the real estate market in 2005 was just teetering at the top before its rollercoaster dive that followed, I gained skills that many Realtors® have avoided. For instance, I delved head first into the world of Short Sales and began helping homeowners who were facing foreclosure. All of this, and the skills that I learned in my previous career in media marketing, have given me an edge when it comes to selling residential real estate.
I believe strongly in education. I served in the Prince William Association of Realtors ® (PWAR) Education Committee as Committee Co-Chair. It is here that I helped to further my own education, and the education of the Realtors® in the Prince William County community. In November 2007 I became a GRI (Graduate of the Realtor ® Institute) and have become a VREB (Virginia Real Estate Board) approved instructor for PWAR on the topic of Short Sales and Technology. I am also a Technology Instructor for new agents joining the ranks of my chosen brokerage, Long & Foster.
I pride myself on my professionalism, determination and commitment to customer service. Be aware, I also have a strong sense of humor and don't enter into any transaction without it. You never know when you'll need it. Buying or selling a home is a serious matter, but it doesn't have to be void of fun.
Climbing my way up through the roughest real estate market known in recent history to become a Top Producer has given me invaluable lessons. Those lessons have become the foundation of my business and will continue to serve my clients well into the future. Whether you are a first time buyer, selling your third home, or facing foreclosure, I am here to be your Trusted Adviser.
NORTHERN VIRGINIA SHORT SALES
Since 2007, 100% of my Short Sale Listing Contracts have received Short Sale Approval.
Successful in personally negotiating and closing short sales with Wells Fargo, Bank of America, Countrywide, Chevy Chase, Capital One, HSBC, Citibank, ASC, Ocwen and more.
Certified VREB instructor on Short Sales for Virginia Realtors®.
Featured in Elizabeth Weintraub's Book The Short Sale Saviour.
NORTHERN VIRGINIA FIRST TIME HOME BUYERS
Patient and knowledgeable in areas that concern First Time Buyers. No first time buyer of mine ever feels rushed or that they don't know what they are signing when they make an offer.
NORTHERN VIRGINIA RESIDENTIAL LISTING AGENT
My media marketing background gives me a special edge when it comes to selling your home. I know how to market your property for maximum effect to get it sold quickly and for as much money as possible.
BRAEMAR COMMUNITY EXPERT (BRISTOW,VA)
As a resident of Braemar since 2004, and the President of the Tartan Hills Village Board of Directors since 2007, I have an insider's knowledge of Braemar and its various sub-assosications. I have been tracking Braemar Property Values since mid-2005 and the average values can be found on my website: www.nvarealestate.net.
ACTIVE ADULT COMMUNITIES
In the Gainesville, VA area we have three well-known Active Adult communities. These are communities that are designed for residents ages 55 or better. If you are thinking of buying or selling in Dunbarton, Heritage Hunt or Regency, I have the knowledge to help you.
Chris Ann,
We would like to thank you very much for your resolve in achieving a short sale of our townhome in Bristow, Virginia. Your demonstrated experience and commitment to your customers is fantastic. Congratulations on a job well done.
This completed sale represents our seventh real estate transaction, probably the most complex we have ever encountered. Thanks to you, it was handled with confidence and professionalism at every turn. We really must commend you for an outstanding job.
In a world where most “service industries” are severely lacking in “service”, your contributions to a successful closing did not go unnoticed. You handled the entire process with grace, and fantastic communication while ensuring our interests were being protected at all times.
We would gladly recommend you to anyone needing to sell or short sell a property in the Northern Virginia area. In our book, you are head and shoulders above the rest. Thank you so very much.
Sincerely,
Christopher & Marie Harding
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If you think about it, one of the most stressful things in life that a person can do is to move. Not only do you need to pack up literally everything that you own, you need to transport it by one means or another to a new place, and hopefully not break much of it along the way. But moving can be much more. It can be a dream home fulfilled or a change of locations to create a better life. A home will accomodate the laughter of children, presents under a new Christmas tree or the peace and simplicity of a warm drink by your new window on a cool day. Chris Ann helped us do this, and she can help you also.
The things that I appreciated most from Chris Ann were her knowledge of the markets, the understanding that she gave our needs, and her ability to make stressful things relatively simple. We were faced with a landlord that was going to let our home go to foreclosure. I had lived there for 4 years, and we hadn't considered buying a home. When we sat down with Chris Ann and Sal Rotante (mortage loan officer), they showed us that we didn't have to rent anymore, but we could own our own home. Having not searched for a home, we didn't know anything about the market, or what was best for us. We drew up some criteria based on the choice of schools for our 11 year old, and went shopping. Chris Ann was always there for us. Her market knowledge helped us avoid the homes that we would be wasting time on, but if we disagreed, she showed us all the places that we wanted to look at (although she was usually correct in her assessment).
When Sal needed to look into our finances, Chris Ann had prepared us to collect the documents we needed to give him. Their communications was professional, expediant, and respectful. When it came time to make an offer, Chris Ann was very insightful about closing costs, fees, and what she thought that we should pay, and what we should ask the sellers to pay. When it came time to negotiate, Chris Ann acted as good counsel, and was a strong negotiator in representing our position.
After our 90 day exodus, and immigration (we moved a total of two miles) we are happy new owners of a single family home in Dominion Valley. Out of all the homes that I've bought in the past, I'd have to say that this was the easiest transaction. Chris Ann made that happen for us, and she can make it happen for you also.
Chris Burnett
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Chris Ann,
It was a real pleasure to work with you during what can be a very stressful time. You were always available to show us around and had sage advice when we were about to go off course! How valuable is that??
We will recommend you to anyone who is in need of a really great real estate professional.
Marcy Payne
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Dear Chris Ann,
I would like to thank you for all that you have done. Our friendship started when you sold my first home, which was when the housing market started to decline. When I thought I couldn't sell my house you came along with determination and creativity and sold my house. The next time I was in desperate need to find a place quickly for my husband and children to live, you again came to the rescue and found a rental that we have enjoyed living in for the past year.
When my husband and I started to look for a house there was only one person I could think of. We just closed on a new home that we thought was out of our reach and at times, thought we might possibly lose. We can't thank you enough for all of your support and expertise. You helped us through a long and stressful process. It was a pleasure to work with a true professional. Thanks to you we got the house of our dreams.
Thanks,
Shannon & Slade Edmonds
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Chris Ann:
Unsure where to even begin! A simple & yet complex thank you may be the start.
The difference between our first set of experiences with you and the second set is incredibly immense, as you well know. Thank you for all of your time spent in working with us, in helping us through the processes of this absurb and fickle market...and for helping us actually get to settlement. Reflecting back, it almost feels surreal, the experiences we endured in early to mid-2009. What a difference a few short months can make though, eh? It seems eloquently evident now that our time to buy was when our lovely home became available.
Thanks for sticking with us and seeing this journey through, all the way to the grand finale of photos on our front steps!
We are so grateful, Chris Ann, for your focus and commitment to getting us successfully into our home. We are pleased with the outcomes, but more pleased with the treasured experience we had along the way in working with you!
In gratitude,
Karen Griner & Jason Leidy
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Chris Ann,
I want to thank you for being such a wonderful agent. You are really the best.
Steven Tran
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Chris Ann:
Thank you for your professional support over these last 5-6 months. You are truly a credit to, and should be a standard of the type of service buyers need in any market when considering Real Estate.
Mark Mansour
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Chris Ann,
I can't express my gratitude enough! Thank you for all your communications to me on this not so fun short sale. You've been great to work with.
Hui-Ling
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Hi Chris Ann,
I can't thank you enough for helping me find a townhome in Manassas, especially since I drove into Manassas with no appointment previously arranged with you - you took my cold call and ran with it.
Within three days of having never met, you managed to understand me and my needs, and find the perfect place - in my experience, that's miraculous.
And I have never met a realtor who had their own polarity meter for checking receptacles in a home - I think that just goes to show how committed you are to getting folks not only the right place for them, but also making sure the place is indeed "right."
A million thanks.
Best regards,
Mark Gill
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Chris Ann was very helpful in the purchase of my home. I would recommend Chris Ann to anyone looking to sell or buy real estate.
Rebecca Livengood
First Time Homebuyer
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Dear Chris Ann:
Just a quick note to let you know how much we appreciate everything you have done for us. We had such a blast with you and can't imagine doing all of this with any other Realtor.
Heidi, Ron & Grace Warner
First Time Homebuyers
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Chris Ann was not only superb in helping us locate the house we wanted, but she was a dilligent worker prior to close.
Chris Ann was referred to me by a friend. My boyfriend and I, at the time, were looking at anything as cheap as possible, not knowing anything about real estate. She took the time to explain the difference of foreclosures, short sales, and regular sales. She worked hard at our first contract on a short sale condo that fell through. Never discouraged, Chris Ann took the time to take a step back, let us re-evaluate our needs and continue forward.
She obviously was a tremendous help to us in the market, but moreover-EXCELLENT in her customer service. She was always willing to bend over backwards by meeting us anywhere, anytime, and answered every single question we had (and believe me-we had plenty)!
We have been very happy in our new home and can't ever forget that Chris Ann was the one who got us here. We have her "sold" postcard she gave us on our refrigerator and will not take it down. It makes us proud to own a home and we owe a tremendous amount of thanks to Chris Ann for giving us that feeling. That's something we can never repay her for.
She's one in a million! I can't say enough about her.
Sincerely,
Kimberly Hessberg & Richard Hirst
First Time Homebuyers
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Chris Ann:
We are so incredibly lucky to have picked you out of that haystack. We never doubted that you always had our best interests in mind. Thank you so much for all you have given to us. You are forever welcome to our home, you're family!
With Love & Appreciation,
Thuy & Jeremy Beinert
First Time Homebuyers
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Dear Chris Ann:
Thank you for all your help in my home search and purchase. Working with you was definitely enjoyable. You are very patient, kind, informative and pleasant.
Every time we went out to look at homes, you were prepared. You had done your homework, making what could have been an overwhelming process,easy.
You are extremely knowledgeable and enthusiastic about your job. You better believe that I will be calling you when I am ready to sell my new home and move up to another. And I will not hesitate to send my family and friends to you, as I know they will have an outstanding agent working for them
Thanks again for all your hard work.
Sincerely,
J.D. Gheen
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Chris Ann is a driven and professional real estate professional. She is extremely knowledgable about market conditions and the home buying process. Chris Ann is tireless in her efforts whether it is to help find that perfect home for a buyer or selling an existing home. She is especially good at listening to what is important to a client, so that she can be sure to meet their expectations. In every case that I have worked with Chris Ann she has not only met expectations, but exceeded them.
Laura Pullen/Prosperity Mortgage
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Dear Chris Ann Cleland,
Thank you so much for helping us find our first home! When we moved to Northern Virginia we thought that we would never be able to own a home. With your help, our dream of homeownership has come true. Some of my co-workers who graduated from college with me last year always ask, "How were you able to buy a house in less than a year of graduating from college?" My answer is, "I have an excellent real estate agent." You have grown from just our real estate agent to our friend. For that, we are grateful.
Thank you,
James & Nikki Howell
First Time Homebuyers
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Dear Chris Ann,
I want to take a moment to thank you for all that you have done. I was at a point that I felt I wouldn't sell my house. I had been through several real estate agents and I wasn't getting even one bite on my house. Then you came along with your expertise, creativity and consistent positive attitude. I started to hope again. You got people to notice and become interested in my house. Eventually it sold and now is becoming a home again.
I have to also thank you for your patience. My personal life was a big part of why I had to put my house on the market. Unfortunately, at times you were in the middle. Your mediation skills were put to good use and you went above and beyond your real estate agent role.
I can't thank you enough for what you did.
Sincerely,
Shannon Russo
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Dear Chris Ann,
You are a class act! We really enjoyed working with you and will refer anyone we know. And, of course, if we decide to buy or sell in the future we would love to have your help and expertise. Thanks again for all of your help and hard work. We'll stay in touch!
Jeff, April, Sydney & Abbey Hunt
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To Whom It May Concern:
This letter is to acknowledge my complete satisfaction with the services that Ms. Chris Ann Cleland has provided as my Realtor in the purchase of my new home. Ms. Cleland provided current and accurate information that aided in the decision making process of selecting my new home; she was able to supply alternate options when it came to hiring a mortgage lender that saved me a whole percentage point on my loan.
She is hard working, willing to go the extra mile for her clients, and she will do everything she can to help you have a non-traumatic, minimal stress settlement. She does her homework, she does not wait until the last minutes, and you have all the information as it is occuring in the process. For a first-time homebuyer, this has proven to be an invaluable asset.
I would highly recommend Ms. Cleland for any of your real estate needs.
Most Sincerely,
Nichole Charlton
First Time Homebuyer
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Dear Chris Ann,
We wanted to thank you for all the time and effort you put into helping us find our home. As first-time buyers we were quite unsure of ourselves, as we ventured into the unknown, but you made the process so much easier.
It was especially important to us that we not feel pressured into making a commitment we were not ready for or comfortable with. Although you understood the necessity to act fast in this crazy market, you also understood the enormity of the decision that we had to make and you respected our hesitation and our excitement.
We were lucky to find you and will keep you mind should our friends or family require a realtor in the future. We will be calling you in a few years when the time comes to sell our "starter" home and move on up!
All the best,
Karen & Pernell Disney
First Time Homebuyers
Dear Chris Ann,
THANK YOU!!!! You made this move so much easier than we ever expected it to be. From selling our home within three days, to finding packers for our truck (at the last minute), playing "Catopoly" with our kids, to all the other little details done behind the scenes that made this move go so smoothly. THANK YOU again and again.
Your professionalism, attention to detail, understanding of the stress of moving, and your willingness to go the extra steps are the reasons that you are so much more to us than the realtor who sold our house.
You are the perfect person for home sales and we expect to see you as number one in your area in no time at all.
Sincerely,
Carolyn Dikranis & Dona Leith
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