Get Erick On The Phone Now, 703-677-1120 Relax, You'll Be Treated Like Family.

Woodbridge Home Buyers, It's Time For Me To Sit You Down, Look You In The Eye, And Have "The Talk"

Welcome To The CCW (Cold Cruel World) Of Woodbridge Homes For Sale

Woodbridge Real Estate News You Can Use

Okay folks, listen up!

All of you who are thinking about buying a home in Woodbridge VA priced above $450,000, stand over HERE.

All of you who are thinking about buying a Woodbridge Home priced below $450,000, stand over THERE.

Okay now that you are in your respecitve herds, here is a quick word for you folks shopping for something over $450,000... You have lots of options, you can get a lot of home for your $$, so be happy. You are now dismissed. Exit the room through the double doors in the back.

Now, everyone shopping for a home priced between $450,000 and $250,000, move over HERE.

Those who are looking for a home priced below $250,000 stay where you are.

Good.

Okay, you folks in the $250K - $450K range listen up. You are entering a battle zone as you move forward with your home search. You will find some good options. Go for homes where nice folks live who are selling simply because they want to, and they have the means to sell.

Forget about short sales... we call short sales "Fake Listings" because national reports show that only 5% of homes selling by short sale, THAT GET A BONA FIDE CONTRACT TO SELL, actually go to settlement. The other 95% of short sales THAT GET A BONA FIDE CONTRACT TO SELL fall through becaue the bank holding the note does not do short sales, or the owners and agent do not meet the terms of the short sale in a timely manner.

Foreclosures MAY be a good option, depending upon condition. The majority of foreclosed homes need paint and carpet. Some need appliances. They all need a professional cleaning. However, the bank has clear title, most of the title work is done, so you may get from contract to closing in less than 30 days.

Be prepared for 2-5 other offers from other buyers if the house is in good condition. Ignore the list price cuz you'll probably need to bid $10,000 - $30,000 over list price to beat Look over the recent sales for similar homes in the same area. Offer your highest, "No Regrets" bid.

Forget about getting the house, as folks say, "without paying too much". Know that a bidder who is your competition has likely bid on another house and lost because they were outbid. They learned their lesson the hard way. You can count on them to bid a price equal to, or higher than the highest recent sale. If you REALLY want the house, take the highest recent sale, and bid above that value.

You folks looking between $250K and $450K may now leave. Use the double doors at the back of the room. Drive safely.

Now, it's time for "The Talk" with all y'all (all y'all... that's the Texan in me) who are shopping for a home priced below $250,000.

Be prepared for a horrible experience. It will not be fun. You're gonna hate the process. The bulk of the homes are vacant foreclosures, with filthy carpet, walls with scratches, crayon scribbles, and holes in the drywall.

Many of the houses smell like a sewage plant because the owner/bank turned off the water and the power months ago. Over time, the water in the traps beneath the sinks dry out, thereby allowing sewer gas to fill the house with nasty stench.

You will see basements converted to multiple bedrooms, not built to building codes, without building permits. The workmanship is disgusting.

The folks took the appliances when the bank foreclosed. Other folks will take everything they can sell on Craig's List... every light fixture, every sink, every faucet, shower head, kitchen counter tops, kitchen cabinets, furnace and water heater. Even so, 4-5 contractors will outbid each other to get the house.

There are ten (10) buyers for every habitable house under $250,000. How do I know? Simple. Each time we write an offer on behalf of a client who is shopping under $250,000, we find out that the winning bid was chosen from 10-12 bids on that house.

I have watched sadly as my clients shopping under $250K lose house after house because they were outbid. They cried, got angry, moped, and repeated over and over, "How can this be?"

I recently helped a nice lady go for a townhouse in Bristow listed by a bank for $235,000. Recent sales for similar homes in the area SOLD for $250K-$285K. This was her fourth home on which she bid, she lost the other 3 homes to higher bids.

She is still at the stage in the process where she fears over-paying more than fears losing the house. You who are following in her footsteps will likely be tempted to do the same.

She offerd $245,000. The listing agent said the house got twelve (12) bids, and her bid was second to the lowest.

The loan officer said her income qualifies her to buy up to $650,000 with only 25% of her monthly income going toward the $650,000 loan payment. If the nice lady would push her price up to $450,000, she could get out of the madness in the $250,000 price range, and still pay less than 20% of her income toward the house payment. She also has enough assets to pay cash for a $450,000 house and barely dent her bank account.

Get tough. Forget what Dad said about bidding 30% below list price. If you wish to pay no more than $220,000 for a house, don't look at anything priced above $199,000. You need room over the price that will allow you to bid, without exceeding your limit.

Bottom line... do all you can to move your buying power out of the $200,000 - $450,000 range, so you can get a lovely home, on a quiet street, in good condition, without the "Auction Madness".

Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

By TwitterButtons.com

Equal Housing Opportunity

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.

THE GREAT BUYERS MARKET OF 2008 IS OFFICIALLY OVER

WOODBRIDGE, MANASSAS, BRISTOW, AND THE REST OF PRINCE WILLIAM COUNTY IS ON FIRE

HOMES ARE PRICED 40% BELOW 2005 PRICES

MULTIPLE OFFERS ARE NORMAL, BIDDING WARS ARE PUSHING PRICES DRAMATICALLY HIGHER

EVEN IF YOU BID $30,000 OVER THE LIST PRICE, YOU ARE STILL GETTING HOMES 30%-40% BELOW 2005

You can get a good house, at a bargain price, but be ready to offer your highest-and-best offer. As a colleague said last week to his buyers, "Offer your 'No Regrets' price", meaning you will not regret if you lose the bidding because you held back from offering your highest-and-best price.

I wrote three offers this week for home buyers. All three saw the actual sales prices for homes in the same neighborhoods, but all three hesitated offering top-dollar, even though they could do so, and they each considered doing so.

All three families lost to folks who bid higher.

The latest example is a townhouse with a garage for sale in Bristow, listed at $235,000.

We looked at the listings for the last three similar homes in the same neighborhood. Those homes sold for $250,000, $256,000, and $259,000.

The buyers kept saying to me, "That cannot be so. How can that be? Why would anyone in their right mind pay MORE than the list price?"

The remarks in two of the SOLD listings said the homes attracted multiple offers, creating a auction effect.

In fact, I called the listing agent for the home the couple wanted to buy to find out if the house had other offers. "Yes. I have eight (8) offers in-hand, and more on the way." Naturally, the listing agent may not reveal the best offer in hand because it is to the benefit of the seller to keep that figure private so as to fetch the highest price possible.

You might ask me, "Erick, what should we bid to get the house?"

In the past, I have simply said, "Make an offer that you believe is fair, with which you are comfortable, now that you have seen the SOLD listings telling you the actual values sellers are getting.

I made the mistake of quoting a figure to a couple early in my career. They offered that number, lost the house, then immediately looked at me with scorn and said, "Hey Erick YOU SAID that was the price to offer, and YOU were wrong. We lost the house, AND IT'S ALL YOUR FAULT!!"

Since then, I have stuck with what I said above... make an offer with which you feel comfortable. It's YOUR money. I have no right to spend your money."

Well, I have a new "2009 Answer" to the question, "Erick, what should we offer?"

Here Is My Answer
"You can see in the records that similar homes were listed for $XXX,XXX, and sold for $25,000-$35,000 higher than list price. That's still 30% below 2005 prices. So your offer needs to be $35,000 or more over the list price."

"Forget list prices. List prices are meaningless. Focus 100% on the SOLD prices."

"But Mr Erick, Mr Erick!!! We don't want to go THAT high over the list price. What if we offer $10,000 over the list price?"

I reply, "Do you want the house?"

"Yes Mr Erick. We want it, we want it really bad!!"

I reply, "Like the other homes that sold, be prepared for a bidding war. $10,000 over won't win. Take the highest SOLD price, then decide how high you want to go above that price. $5,000? $10,000?"

SO WHAT'S THE POINT?
If you're a seller, jump for joy!! Price your home to attract lots of bidders, then let the auction effect work for you.

If you're a home buyer, forget what Daddy told you about "talkin' the down"; focus on the highest recent SOLD price, then bid over that number and pray; it's urban warfare out there; the market is cruel; get over it; if you gonna play, play to win.

"But Mr Erick, Mr Erick!! I don't want to get into a bidding war for a house. How can I avoid a bidding war?"

"Simple, " I say,"keep renting for another year or two so that our current pent-up demand for houses abates, wait for the market to push prices up high enough to slow demand such that bidding wars are over. Wait until homes selling for $250,000 today are selling for $350,000; wait until homes selling today for $510,000 are selling for $625,000, and you'll avoid the bidding wars.

Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

By TwitterButtons.com

Equal Housing Opportunity

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.

Woodbridge Real Estate Market Having A 40%-Off Retail Price Sale Extravaganza!!

Why Buy AN Outfit At Nordstrom For $200 Retail When Macy's 40%-Off Sale Sells Same For $120?

A Buyer Transferring From California Cannot Wrap Her Brain Around Multiple Offers For Homes

Woodbridge Home Prices Bidding Up Because We Have Too Few Homes For Sale And Too Many Buyers

I am helping a nice lady who was transferred to Dulles from Los Angeles buy a home in the Bristow area.

We have seen some lovely homes in her price range. She was shocked to find out that homes she saw last week all sold, with multiple offers, that turned the sale into an auction, with buyers pushing prices $15K - $25K over list price.

The letter/email I sent to the nice lady is SO GOOD, and SO ARTFULLY CRAFTED, my assistant urged me to share it with you.

--------------------------------

Dear Sally,

In this message I shall give you the same candid talk I would share with one of my cousins, or family members.

First, I hate this market.

I hate watching homes, good and shabby, get multiple bids, and selling above the list prices.

You said, "I think the Cascade Falls house price is ok if without all holes on the wall and broken doors. It doesn't have washer and dryer and backyard. So it should be lower than the one sold at 230K."

I agree with you.

There are other folks who are shopping for a home in your price range, in the Bristow area, who will bid top-dollar to get that house because most homes in that price range, in that area, need SOME repairs of one sort or another.

"So it should be lower than the one sold at $230K."

"Should" is a word that the banks and sellers do not use. They see more buyers than the number of homes for sale, they see prices rising with each home sold and closed, so in their world, they should get higher values because Bristow is a rising market, meaning home prices are rising.

Jenny, it is NORMAL for home buyers to look at a home price, and wonder, " What LOW price should we offer? We should offer less than list price, then negotiate."

That does not work in 2009.

We are in a rising market in 2009.

In "normal" times, buyers wonder, "I wonder how low below list price I should offer for the house. That's how the game works in "normal" times.

However, we are not experiencing "normal" right now.

The name of the game is, "How much over list price must I offer to beat my competition and win the bid to buy the house?"

Sure, a house may need $3,000 worth of new carpet, and a $3,000 paint job, but they will pay over the list price, and pay $6,000 to paint and carpet the house.

Why?

Because they are getting the house at a price now that is 40% off the 2005 price.

IT'S A 40% OFF SALE FOR HOME SHOPPERS

Just as if you went shopping for clothes. Would you buy an outfit at Nordstrom at retail price, or would you walk through the mall to Macy's and get the same outfit 40% off retail?

If an outfit you want is $200 at Nordstrom, and you could get it for $120 at Macy's, you would buy at Macy's, right?

That is what is happening in real estate right now.

Those homes in the Pembrooke, Sheffield Manor, and Braemar were $400,000+ houses in 2005.

Home buyers quit buying in 2006, and waited on the sidelines through 2006, 2007, and 2008, watching the prices for those homes drop through $350K, $300K, $275K, $225K.

All of a sudden, all at once, the buyers decided the prices were so low, that it was time to jump into the game, and buy something.

So now a house may come up for sale at $225K, that attracts multiple bids that push the prices up.

There will be SOMEONE who is willing to out-bid everyone else at $240K or $250K.

Those folks aren't crying or upset about paying $15K-$25K over list price. They are celebrating because they are buying the house they could not afford when it was $400K for 63% below top-dollar at a price they can afford.

So Sally, what's my point?

Sally, the point is you can get mad because houses in Bristow that need cosmetic repairs are selling $15K - $25K over the rock-bottom list price, or you can choose to be happy because you are taking advantage of the special "40% Off Sale!!" going on now.

Dos that make sense to you? Do you see the logic? Do you see what your competitors are doing?

Erick

Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

By TwitterButtons.com

Equal Housing Opportunity

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.

Most Commercial Real Estate Websites Give You Stinky Home Search Engines

Search For Woodbridge Homes For Sale On Most Sites And You Get Stale Information

Only One Search Site Works And It Is NOT MINE

Find Homes In Woodbridge For Sale, Under Contract, And Sold

I believe nearly every real estate website I see gives you a "Search For Homes" link that stinks.

Some are slanted toward showing listings from one company over all other listings from other companies.

Reltor.com is worthless.

The problem with those sites is that they do not give you a direct connection to real-time, accurate information contained in the Realtor's Multiple Listing Service (MLS).

Until now...

My friend, Frank Llosa, an outstanding real estate broker who works the Ballston area somehow crafted a website that is 100% accurate every time I compare his site to the Realtor's MLS system.

Ladies, Frank is more than smart, he's dreamy-handsome too!!

CLICK HERE NOW to see FranklyMLS.com for the most timely real estate information you can get.

Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

By TwitterButtons.com

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.

Woodbridge Home Shoppers Frustrated By Websites That Promise Full Access To Homes For Sale

Websites Promise Full Access To The Realtor's Multiple Listing Service (MLS)

Promises Broken Often Broken By Websites Offering Full Access To MLS For Woodbridge Real Estate

Good News Two Websites Give You Nearly Perfect Access To MLS

The fact of the matter is that the Realtor's MLS is a subscription-based service for persons holding an active Virginia real estate license.

Moreover, Realtors pay "Subscription Fee" of hundreds of $$ quarterly to use the database.

MLS is the ONLY 100% accurate database.

Other sites, like Realtor dot com, Homes dot com, and company websites are advertising driven. If an agent chooses not to pay to advertise a listing for a nice home on Realtor dot com, you won't find it.

However, Two Realtors Have Found A Way To Get You 99% Full-Access To MLS

Gentle Reader, I am among a vocal and growing contingent of agents who are demanding public access to our MLS.

The old-timers fight us at every turn, and it's the old-timers who have time to serve as officers on the local Boards Of Realtors.

95% of all real estate transactions are done by 5% of the Realtors.

Folks like me, who want full public access to MLS, are also among the 5% who do the lion's share of the business. It would not be fair to my clients to take time away from them to serve on my Board of Realtors, to attend frequent, tedious meetings.

Two Of My Colleagues Have Devoted Countless Sleepless Nights To Crafting Public MLS Access

The Boards Of Realtors Are Fuming Mad About These Sites But The Artful Programming Used Does Not Break Any Rules So The Old-Timers Can't Shut Down These Sites

My favorite website for easy access to the MLS is Frankly MLS.

It does things no ad-driven sites do.

Frankly MLS gives you listings of homes for sale, it shows you which homes are under contract, it identifies short-sales, and it gives you info about homes SOLD in the past 60 days so you can see for yourself what homes are actually selling for.

Ladies, Frank Llosa created Frankly MLS, and he is handsome, dashing fellow. Candy for the eyes. So I added his photo to the side, just so you can see that he is more than just smart... he is also dreamy!

My second-best favorite website is Real Bird. Real Bird is new. I do not have a lot of experience using it, so I am not ready to render my judgment.

Did this post tickle your curiosity? CLICK HERE to send your question. Answers shall be sent by email ONLY, unless you specifically ask for phone call.

You can get computerized, automatic, customized FREE ALERTS by email when new listings of homes that fit your wish-list are posted on the Realtor's MLS. You'll find out about the newest listings before most Realtors know about them.

That way you'll know when your dream home hits the market.

Opportunities Are Everywhere...We Can Help You Find Your Dream Home.

Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Man

By TwitterButtons.com

assas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.