Gina Tufano

Okay so has anyone else been running into fierce multiple offer situation with clients? I know I have with a few of my clients most recently and it's hard to get buyers sometimes on the same page. Yes, it is a buyers market over all, but it all depends where you are looking and in what price range. I have especially found in the under $350,000 range, buyers are stepping into multiple offer situations with almost every seller.

In fact, RIS Media reported on October 3rd that pending home sales nationwide have continued to rise 6.4% in August 2009 alone which is up 12.4% from August 2008. In the Northeast, the Pending Home Sales Index reported a 8.2% jump in August 2009 which was up 12.0% a year prior, while the West indicates a 16.0% increase in August 2009 and up 22.3% since August 2008.

So what's going on here? With the first time home buyers tax credit expiring in less than 45 days, home sellers have continued to serge to beat the deadline. So far, Congress has not extended the tax credit, however many experts forecast that home sales will greatly decline following the end of the tax credit on Nov. 30th. On average, the number of active listings drops in the winter months and the market tends to slow, so if you are looking to buy or sell, now is the time to do it!

To read the full article from RIS Media, click here.

There are many factors that influence the buying decision of a home. but there seems to be a lot of support for schools and school districts to have a substantial impact on the appreciation and price of a home.
Even if you do not have a family of your own, it may pay off to do some research on the local school districts in the area you are looking to purchase a home. Some agents and local experts estimate that school districts can influence the price of a home by even $50,000- $100,000! As I said before, there have been many speculations and similarities made on comparing resale value of a home heavily based on a particular school or school district .
So how do you go about researching the local school districts in the area you are interested in? Check out the local school district websites, compare SAT scores, and pay attention to rankings of national magazines such as U.S. News and World Report. National magazines often weigh rankings on test scores, demographics, and performances on AP tests. So who came in the top 50? Thomas Jefferson High School for Science and Technology in Fairfax County was ranked #1 in the nation in 2008 while others such as Walt Whitman High in Besthesda was ranked #44, McLean High was ranked #55, and Potomac's Winston Churchill High was ranked #57.
Not only is it important to look at the general dynamics of an area's demographics in comparing schools and school districts, but it is also important to look at things like teacher turnover, graduation rates, absenteeism, availability of extracurricular activities, and the local press of family/community involvement in school activities. All of these factors will not completely guarantee the quality of individual teachers at schools, however, schools with promising statistics and data is your best bet to find high quality education.

By any means, don't single out your deciding factor on a home based on surrounding schools. Maximizing the whole picture is key to insuring the appreciation of the property value of your home for years to come. And don't get up and pack your bags the minute you start planning to have a family; instead wait until the time is right and you can conduct proper research before making any final decisions. For most, it may be more important to stay put when a little one comes along in out to jump start savings towards a college fund and wait until the child is almost of age for starting elementary school.

Lesson here: there is no one single factor to decide when purchasing a home, but education and location definitely seem to be high up on the list.

To read the full article, click here.

Looking for a fun fall event? Broadlands Marketplace is hosting an Oktoberfest & Chilli Cook-Off event this Saturday, October 3rd from 11am-3pm. The event will feature beer tastings, live music, an inflatable Olympic obstacle course, face painting, chilli competitions, and more!

To learn more about this event, click here.

Okay so the weather is SUPPOSED to be very warm and sunny this weekend, what do you do? Go to the Waterford Fair!

Voted Best Event of the Year in 2007 by the Loudoun Convention & Visitors Association (LCVA), the Waterford Homes Tour and & Crafts Exhibit is hosting it's 66th annual fair this weekend and includes events for the whole family to enjoy. Over hundred heritage craftspeople will provide hands-on demonstrations and provide entertainment with traditional music and dancing. A Civil War & Revolutionary War re-enactment with soldiers matching through the streets. Federal brick houses, large Victorians, Quaker style buildings, and many more will be open for everyone to wander through. For the children, there will be a hay ride, a magician, and many hands-on crafts.

To watch a video on the Waterford Fair, click here.

The event goes on throughout the weekend, rain or shine, from 10am-5pm, Friday-Sunday. Tickets will be sold at the door and all proceeds from the fair will be used to "carry out the Waterford Foundations's mission of education and preservation."

If you answered YES, I would like to bring to your attention some FREE online resources that may be of help.

The Virginia Association of Realtors has constructed a website directed towards answering and assisting you with all of your short sale needs so you can better serve your clients when they are involved in a short sale process. The website provides everything from a list of the best practices on how to handle short sales along with many other print articles to streaming video's so you can listen to the experts talk. If you would like to seek further assistance and are interested in learning one-on-one on how to successfully close short sale deals, check out the list of contact information for expert presenters who are offering agents and brokerages classes directed towards this purpose.