What do you do when you receive a call from a potential client and they ask you how the real estate market is?
Recently I had such a call from a lot owner here at Lake Anna. I told him the truth.*
I told him few lots are selling especially non-waterfront, what we call access lots. (We are selling a good number of homes on access lots.) We have a very large inventory of access lots and the prices have come down to the point that he would probably be lucky to sell for $xx,xxx even though his lot has an assigned boat slip. He would have been able to get perhaps $20-30,000 more for it when the market was hot.
This evening I received a call from a potential buyer looking for investment property at Lake Anna. He
only wanted to buy a waterfront home to rent out. The requirement was that the rental income cover his monthly expenses, mortagage and taxes. Putting the minimum down, the mortgage payments would be quite high.
Waterfront homes begin around $500,000 and go up to over $2,000.000. The caller was looking for a waterfront foreclosure thinking we might have a number of those and they would now be priced very low. Well, thank goodness, that is not the case.
There are a number of beautiful waterfront homes now on the market priced well below what they could have sold for when the market was very busy. However, they are still nowhere near "fire sale" prices. I do not know of any properties here that will fit his requirements and I told him so.**
There are certainly investment possibilities here if the buyer is able to take the long view. Buying now at reduced prices and holding it until the market peaks again will net them a fine return but it is not going to happen overnight.
I believe I am very optimistic about real estate. I could not have been in it all these years through this downturn and the others I've experienced if that was not the case. Nevertheless, I do not want to give a false impression either. Sometimes that means turning away "business."
*At the end of our conversation, Mr. Seller thanked me for my honesty and said for me to call him when I thought it would be a good time for him to sell.
**Mr. Buyer said he would save my number and call me when he is able to buy a waterfront home for his family.
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If you or someone you know is thinking of buying or selling property at or near Lake Anna, please contact Kathleen "Kate" Elim. Kate lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate.
Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
If you live at a lake doesn't it make sense to have some lures on your mail box? Who knows what kind of mail you might catch.
It's fun to drive around and see what folks have done to personalize their mailboxes. Now believe me, we have some very "Plain Jane" boxes, like the one at the end of our driveway. Perhaps that is why I notice the ones with personality.
I also like the ones that may not be particularly different but the owners have taken the time to "dress" them up abit with flowers and other types of plants. Thought I would like to share some of my favorites with you.
Everytime I pass these I think of the American flag...red, white and blue.
The one to the right is a little bit country! It makes me think of antlers. Or is it saying to us, "so big" like we used to do when we were little children? Or does it look like a someone you know describing the fish that got away?
Here's a Lake Anna neighbor that has such a green thumb they are able to "grow" ivy to decorate their mailbox. What Mother Nature doesn't do for you, do it yourself with a paintbrush.
No excuse for the mailman not to find this mailbox. Pretty nautical and very appropriate for Lake Anna.
In a contest for the Good, the Bad and the Ugly where would you place this one?
This "fish" appeared on my road one day. I now have the "pleasure" of seeing it each and every time I go out my driveway. Boy, has he got a big mouth! He'd probably make a great blogger! I bet he'd have some fish tales to tell us.
Out here in the country we must also find comfortable places for our cows and horses. This neighbor of mine gave his animals their very own barn. They just have to share with some bills and junk mail.
I wonder what type of "gifts" the postman finds in here.
Driving around Lake Anna can be interesting. Just be sure to keep your eyes open (and on the road too).
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If you or someone you know is thinking of buying or selling property at or near Lake Anna, please contact Kathleen "Kate " Elim. Kate lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate.
Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
We've heard this advice many times and it still holds true.
Whether you are leaving a real estate company or have not been selected to list a particular property do not even begin to think that this is history. You just never know when you might want to go back to that firm. Or, you never know if some time in the future you may have the opportunity to work with that seller listing the same house or perhaps in an entirely different transaction.
Treat all parties in a transaction with professionalism, courtesy, and respect. Perhaps that other agent will be across from you on another deal and you will be needing an extra dose of cooperation. If you have shown that you will extend yourself, others may well do the same in return.
Sometimes the agent that represented the other party in the transaction stops working in your market and that client may think of you when they are looking for a REALTOR®. If you have done what it takes to get the transaction to settlement the likelihood is that you will be in line for the job.
Just recently, a few days after a settlement, the purchaser called me to ask for some information. When I offered to do some additional things to help out she told me they never expected as much from a REALTOR® as they had received from me. I replied that they now had not just a REALTOR® but a friend.
We develop friendships with fellow agents, lenders, home inspectors and others
that help us with our transactions.
We are also so fortunate that many of our clients become our friends. What a nice perk. Of course, some markets facilitate this more easily than others. Fortunately for me I live in such an environment and it adds a special dimension to my work.
Take care of all of your relationships even transitory ones as you may be crossing that bridge again and again.
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If you or someone you know is thinking of buying or selling property at or near Lake Anna, please contact Kathleen "Kate " Elim. Kate lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate.
Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
That's exactly right, if it hasn't happened to you yet just wait...it will. I'm thrilled to tell you I have just received my first direct contact from a consumer through Active Rain.
I received an e-mail today from someone that has a vacation/second home here at Lake Anna. She and her husband would like to meet with me next Monday evening to discuss listing their home.
Previously, I had another agent on the Rain contact me regarding a referral (which didn't pan out as my suggested list price was too low) have any of you had that reaction from a homeowner???
Believe me, I would continue to spend time in the Rain even if I never received one single contact through it. I have received so much already, but it is nice to see that this is an added benefit.
Thank you Active Rain and all my fellow Rainers. Without all of you this dynamite site would not exist. Getting to know even just a small number of you has been a very rewarding experience. It's funny that if someone goes missing for a few weeks (I do that for days at a time) I miss them and wonder what happened. I only wish I had more time to spend here.
When I first joined the Rain I had a bit more time and had a lot of fun reading, writing, and commenting. Now I have been busier (it always slows down around November and heats up again late winter/early spring) there is not as much time to play in the Rain.
I'm looking at all the raindrops in the graphic and it reminds me of all my Raindrops here on the Rain. You have added another measure of happiness to my life. Thank you all.
Cheers to all the Raindrops I have come to know and enjoy here on the Rain. I appreciate all of you and am so happy we have this forum to learn so much, to get to know others, to share our ups and downs, and to post our thoughts and photos. What more could we ask for...I cannot think of a thing!
May the Rain continue forever and ever!
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Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
Spring is a time of new beginnings, a time of hope and expectation. What a great time of year to consider a move to Lake Anna.
I cannot think of another time that gets the heart racing just a bit more with anticipation of fun times ahead, time to be with family and friends, time to get the boat ready to launch for a new season of boating, water skiing, fishing, and swimming. Thoughts also turn to lounging in the hammock or sitting down by the dock. It can be a time to rest and reflect.
Just the thought of drifting along on the water at a leisurely pace soaking in the sights is enough to inspire many to begin the search for a place to call their own here at the lake. For some it will mean a change to full-time lake living and for others it will be the purchase of a part-time home or getaway that will ensure a positive attitude during the work week for their weary souls.
Right now, before the leaves fill in and block the views you can cruise around the lake spotting homes that are tucked in secluded coves and on wooded lots. You are able to get a different perspective of the many neighborhoods around the lake from your boat than you do as you drive the country roads in the area.
Spring is a time of clear skies providing beautiful sunrises and spectacular sunsets. The sky and water are often filled with color. Sometimes it is soft pastels; pinks, violets, buttery yellows and at other times we witness the glory of vivid oranges and reds along with hot pinks. these are the things we look forward to and appreciate time and again.
(Look, Mom, no filters, no Photoshop, no hands...just another breathtaking sunset viewed from my home.)
In the past couple of days, I've passed alpacas, goats, cows and horses looking just a tad bit more energetic, some even downright frisky. They sense the time of year and realize that warm weather is here to stay, the days are longer, and the sun is brighter. Like us, they know spring is here.
The sky seems bluer and the clouds even more billowy. Grass is turning greener and leaves are popping out on the trees while daffodils, hyacinths, and tulips are making their welcomed appearance. Homes that have been looking a little stark and beginning to soften with the advent of blooming flowers and shrubs.
Best of all are the smiles on people's faces. Our winters are not bad at all but no matter how mild the winter is there is such happiness when we realize spring is really here. Spring is Mother Nature's gift to us.
Now give yourself a gift.
Visit Lake Anna this spring.
You may love it just as I do!
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Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
Photos by Kate Elim
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Specializing in Lake Anna, Virginia Real Estate-Resident since 1992-Quality Service-Local Knowledge-Multi-Million $ Producer-Representing Buyers & Sellers- Homes & Land-Investment-Commercial
Lake Anna is a real estate market unto itself. Working with a REALTOR( ) that has the expertise not only about real estate but about Lake Anna and the surrounding area is very beneficial. My years of selling real estate at Lake Anna and the personal marketing plan I implement will make your selling experience a productive one. If you are thinking of buying a place at Lake Anna my knowledge of the market will ensure that we find the right spot for you. By keeping current on new technologies I can put those tools to work for you along with my enthusiasm and love of Lake Anna.
Buying and selling properties in a lake community is a different process than when I was an agent in Northern Virginia. I learned about drain fields (perc, alternative septic systems), wells, common areas, access vs. waterfront, water view and seasonal water view (and sometimes a "how can they call this a water view"), reputable builders, lenders, home inspectors, handymen, painters, and settlement companies. Remaining knowledgeable regarding all facets of the local market is paramount to providing the best possible service to my clients, both buyers and sellers.
I know how important it is to keep taking courses, reading as much as I can about real estate, and living up to the REALTORS® Code of Ethics. As a member of the Grievance Committee at my local Board I learn about the intentional and unintentional mistakes that can happen. I've found that if you are doing something you really enjoy, and I really do enjoy real estate, you want to do it well and are enthusiastic about being aware of changes and staying as current as possible.
It was fun to explore the Lake Anna area when I first started here over 12 years ago. In doing so it really made Lake Anna feel like one big neighborhood to me even though the lake is 17 miles long and has over 270 miles of shoreline. Now, with over 120 subdivisions around the lake it is more important than ever to KNOW THIS MARKET.
That's why I feel it is important to keep on taking courses, reading as much as I can about real estate, and living up to the REALTORS® Code of Ethics. As a member of the Grievance Committee at my local Board I learn about the intentional and unintentional mistakes that can happen. I've found that if you are doing something you really enjoy, and I really do enjoy real estate, you want to do it well and are enthusiastic about being aware of changes and staying as current as possible.
When you love the place where you live and work it makes it easy to be enthusiastic. Working with sellers here at Lake Anna is a treat. The same goes for working with buyers. When you're familiar with the 120+ developments, their amenities and location it really helps to be in a position to make the best use of a buyer's time.
Having moved extensively to places as far away as Alaska, Italy, Somalia, Puerto Rico, and Texas I well understand the thrills and chills of relocating. I work hard to make the process as painless as possible. Years of personal experience combined with professional experience contribute to my ability to work successfully with sellers and buyers whether their move is going to be long distance or just around the corner.
LICENSED IN THE COMMONWEALTH OF VIRGINIA SINCE 1986
DESIGNATIONS:
SPECIALTIES:
MEMBERSHIP & AWARDS:
Dear Toni,
We would like to take this opportunity to recognize and compliment your agent, Kate Elim.
Our first meeting, the listing presentation, impressed us with her knowledge of the area, the competition of houses in our price range for sale on the lake, the research information she had compiled on our property and her detailed plan for selling our home at a price satisfactory to us.
As we are told every day by the media, the real estate market in the U.S. is in deep trouble with rising interest rates, a glut of houses for sale and foreclosures abound.
To our surpise and joy, Kate presented a contract close to our asking price fifteen days after the listing date (September 5 and September 20), which after a minimun amount of negotiation and with her guidance, and advice the items in question were resolved. There were a number of routine contingencies, which needed to be resolved. They required a plumber, an electrician, a roofer, septic, well and termite inspectors for which Kate contacted the various tradesmen and coordinated appointments to remove the contingencies. As we live in Florida, Kate's involvement made it unnecessary for us to make another trip to Virginia. She also set up an appointment with a settlement attorney who we used for the closing.
Kate is an agent who works for her clients to fulfill their goals and is always available to them. She is an agent who is a valuable asset to your brokerage and one we would refer our friends and neighbors in the area to. Kate is a true professional and a tireless worker.
Sincerely, John and Lois Van Horn
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When an agent functions as well as Kate did, it is very hard to find areas for improvement. She is a seasoned veteran. Her greatest strengths were marketing, advice, and value of our property. Very professional.
Charles Billak, former REALTOR
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Carol and I cannot possibly find enough words to adequately thank you for the process you guided us through. You have been so gracious when we have dragged our feet, never once did you try to push us to a decision. From the time I talked to you at the 1998 Capitol Expo Center Boat Show you have been our friend, guide, and process partner. You were not dismayed that we took side trips to Smith Mountain Lake, Lake Gaston, and Kerr Reservoir. We did keep coming back to Lake Anna. It was where we felt most comfortable.
The day of our closing, I counted as our eleventh trip to Lake Anna. You were with us on all but two of those excursions. You more than did your part, and I am thankful also that you kept within our price range. You listened to our wants and took us to some wonderful houses.
Thank you for both your friendship and wonderful professionalism!
Sincerely, Samuel E. "Ed" Stone March 2001
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We had a very difficult and complex closing. After leaving the area, Kate was very responsive in representing and tracking our interest.
Gerald W. Hoskin
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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