Heather Embrey , Your :) Real Estate Source

Per the Atlas Vine Lines Moving Migration Chart, Virginia is an "in-bound" State! More than 55% of total shipments are moving INTO the State. Click here to view the chart to see how your State had performed.

This helps explain Northern Virginia's low available housing inventory (2.9 month supply!) and the increase in demand for housing.

If you are "migrating" to Northern Virginia, Let's Talk!

McEnearney Associates
1320 Old Chain Bridge Road
McLean, VA 22101
Cell/Text: 571-236-2616
Fax: 703-839-8160

I stopped receiving the local news paper delivery. Not because I am tech savvy and can read it on my iPad and not to save the world by reducing my usage of tree-killing paper - although these are both good reasons! I stopped receiving the paper because I simply do not have time to read it. But I now realize am going to have to find the time because when I do get the chance to take a look I am always surprised at the misinformation that spills into articles about real estate.

I found the following quote in the Washington Post Real Estate section this weekend regarding changes made to the Regional Sales Contract for Northern Virginia: "The buyer will have to spend tons of money and assume tons of risk on every transaction to understand even if the house is worth buying.” Maybe in DC and Maryland, but in reality not much has changed in Northern Virginia. The Buyer has always had the right to conduct a home inspection and sellers have always had the right to sell a home "as is". The only thing that has changed is the requirement for the seller to warrant the following items will be in "normal" working order: HVAC, electrical, plumbing, appliances and heat/smoke detectors (as required by law). Who decides what "normal" is anyway?

Why this quote is misleading is because the Buyer has always had to pay the price for a home inspection and/or other inspections. That has not changed. The only thing that has changed is the seller's requirement to fix anything. But, as with everything in real estate, repairs are negotiable. If the seller refuses to correct items that are a true concern to buyers, the buyer can void the contract. Plain & simple. No additional costs to anyone.

This is yet one more reason to speak with your Realtor. We know the true facts - whether we read the paper or not.

I just previewed the new homes at MetroWest in Vienna, Northern Virginia. While I was sad to see the tear down of the older homes that occupied this cornerstone property, I know that the greater good called for a community like this due to the conveniently walkable location to the Vienna/Fairfax/GMU Metro station and easy access to Route 66.

The townhomes available are typical in modern design with open floor plans and hi-end finishes. Considering the pickings for new construction near the beltway is slim, I feel the prices Pulte is offering is well deserved. For more details on this community, visit: http://metrowestva.com/about/quick_facts.html

MetroWest will be similar in design to the Mosaic District. Mosaic District is several miles East of MetroWest on Route 29 and is a bit closer into town, but with fewer residential style options than MetroWest. And the commercial anchor tenants may not have been selected for MetroWest whereas the Mosaic District has Target and MOM's Organic Grocery Store.

If you have thought about making a move, lets talk. I'm simply here to help :)

Heather Embrey

Realtor - Licensed in VA

McEnearney Associates Realtors

1320 Old Chain Bridge Road

McLean, VA 22201

www.HomesSoldByHeather.com

heather@HomesSoldByHeather.com

Cell/Text: 571-236-2616

So how did we do?

A Quick Year End Review of Our City Park Homes Real Estate Market :

In 2010, 24 homes were sold. The average sales price was $445,239. Only 3 of these sales were short sales and only one was a foreclosure. It took 74 days on average to sell a home.

In 2011, 28 homes were sold yet the average sales price dropped to $418,992. This dip is the result of an increase in short sales and foreclosures. In 2011, 6 of the homes sold were short sales and 2 were foreclosures. But homes sold quicker – only 25 days on average to go under contract.

2012 looks promising. There is pent up demand from Buyers looking to capture record breaking low interest rates but are stymied by low inventory. They are looking for properties in good condition and listed at a fair price!

If you are planning to make a move from our neighborhood,

I can help. Let’s talk!

Heather Embrey – REALTOR

“Your Neighbor on Kincaid”

ABR, SFR, SRES, SRS, ePro

REALTOR - Associate Broker

McEnearney Associates Realtors

Cell/Text: 571-236-2616

heather@HomesSoldByHeather.com

Don’t forget to visit our City Park Homes Facebook Page!

There have been big changes to the Northern Virginia regional sales contract that you will use to strike a deal on your next home. Before this new contract, the seller warranted the following items to be in normal working order: HVAC, appliances, electrical & plumbing systems and smoke detectors. With the new contract that went into effect January 1, 2012, the property conveys "as is" with no warranty implied.

You will still have the right to conduct a home inspection and negotiate repairs - that has not changed. But the liability to the seller to HAVE to correct certain items is long gone.

And while I'm on the subject of home inspections, be sure your home inspector provides you a DETAILED inspection report noting not only the possible defects of a home, but the condition of all systems & appliances as well. This will be helpful during the final pre-settlement walk through in the event there are defects that were not present during the home inspection. The seller will be liable for any new defects or damages.

There are other changes to the contract that will impact a Buyers side of the transaction. If you would like to know more, let's talk.

Heather Embrey

Associate Broker - Licensned in Virginia

Cell/Text: 571-236-2616

www.HomesSoldByHeather.com

heather@HomesSoldByHeather.com