With real estate prices coming down and homes becoming more affordable, buyers are starting to come out of the shadows and enter the real estate market.
However, as a buyers agent, I'm still finding it tough to show a lot of the foreclosures because a lot of them need a lot of work, and the majority of home buyers don't have the money for repairs after down payment and closing costs. True, there are the down payment assistance programs, but the clock is ticking on the availability of this government aid. Then there's the FHA 203(k) program that allows you to build the cost of repair into the mortgage loan.
The problem is the lower you go in price range, the more narrow the buyer's vision appears to be. First time buyers have a hard time visualizing the finished product. That's often why staged homes sell quicker and for more money than homes that need work, or vacant homes without a speck of furniture. When first time buyers visualize repairs and cosmetic updates, they envision themselves going broke,
and not having time to make the changes, which equates to them not being able to enjoy the home they just spent thousands buying.
This past weekend I was showing foreclosures to a first-time buyer. As a real estate agent, when I hear the word 'foreclosure' I immediately think of replacing everything...carpet, paint, appliances, fixtures, toilets, doors, etc. One of the houses that we viewed had no refrigerator. While it was obvious that the home was in need of serious repair, my buyer was really hung up on the fact that there was no refrigerator. The other existing appliances were old, worn, and dated, but because there was no refrigerator, my buyer had a hard time seeing why this home was even on the market.
My buyer saw this house:
While the bank, and sometimes most sellers, see this:
Right now, there are just under 300 homes for sale in Alexandria City that are priced under $200,000. There are over 1600 homes for sale in Prince William County listed under $200,000.
Three years ago, this would have been unheard of!
True, the falling prices are making it easier for some buyers to re-enter the market, the problem is, most first-time home buyers don't want shacks. They have neither the patience nor the desire to take on anything more than a fresh coat of paint.
Hmmm...why can't stagers and banks just JOIN FORCES?!
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This article is copyrighted and written by Tamara Inzunza.
8301 Bluebird Way, Unit D
Lorton, Virginia 22079
Come and see this beautiful two bedroom home that offers two full baths, plus a den that is in mint move-in condition. Freshly painted, new carpet, new kitchen flooring and appliances. The master bedroom has an oversized walk-in closet.
This home is not a foreclosure, not a short sale, seller owned lovingly cared for home that requires no repairs and no fix-ups...MOVE-IN CONDITION!
This weekend, the 7th Annual One Love Festival kicked off at George Washington Middle School in Alexandria.
Lots of Games and Fun for the Kids
Trampoline High-Jumping
Gospel Music That Had The Crowd Clapping and Stomping
Plenty of Good Food To Go Around!
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Search the MLS for Alexandria, Virginia real estate and homes for sale online at www.MovingToNova.com. Find out what your Alexandria VA home is worth at www.MovingToNova.com. Looking for a top Alexandria VA real estate agent, call me at 703-623-8759 or toll free at 1-877-395-2495. Helping buyers and sellers 'Make That Move' in Alexandria, Virginia. Tamara Inzunza - Real Estate Professional and Associate Broker with McEnearney Associates Inc. Realtors.
Supercharged and energized! Just two words to describe the By Referral Only Main Event in Reston, Virginia this week.
Me and Hugo Robinson (Group Partners)
Me and Tony Aragon (Tony practiced some of the dialogues, called one of his past clients during the event and received two referrals! High-5!
Me and Joe Scerbo (aka The CraigsList Guru!) Joe always answers my phone calls and questions about CraigsList...he is KING!
Me and Teresa Hollingsworth and Teresa Wright. I had just referred a past client to Teresa H. just a few months ago and she successfully SOLD their home before any of the other homes sold in the neighborhood!!!
What a refreshing and uplifting time we had. It's always great to be around people who treat clients like SuperStars. If you missed out on the Main Event, please visit the By Referral Only website and sign up for the next one. If you're a BRO member...see you on the Message Boards!!!
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Search the MLS for Alexandria, Virginia real estate and homes for sale online at www.MovingToNova.com. Find out what your Alexandria VA home is worth at www.ConfidentialCMA.com. Looking for a top Alexandria VA real estate agent, call me at 703-623-8759 or toll free at 1-877-395-2495. Helping buyers and sellers 'Make That Move' in Alexandria and Lorton VA. Tamara Inzunza - Real Estate Professional and Associate Broker with McEnearney Associates Inc. Realtors.
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Alexandria VA real estate buyer agent and listing agent. Helping distressed homeowners with short sales. Specializing in the areas of Old Town, Del Ray, Kingstowne, Manchester Lakes.
After consulting and software/database programming, I decided to pursue my real estate career full-time...and never looked back! While there are days that I sincerely miss programming, it can never take the place of the satisfaction I feel when I help a family find their new home. I have always had a fascination with houses. Before I was licensed, I would often spend my spare time visiting model homes in the area and going to home-buying seminars. My education and previous experience as a consultant is the foundation for my success as a Realtor. My business degree laid the groundwork for real estate. I have extensive knowledge and training in Economics, Accounting, Computer Technology, Marketing, Finance, and Management. Transitioning from corporate/government consulting to real estate consultant was very smooth. I have always been in a ‘people' atmosphere, and my technical skills help me when I work with both buyers and sellers! For over eleven years, I have helped many families in Northern Virginia buy and sell homes. Locally, I have helped renters become first-time homebuyers, and then move-up buyers. And I have helped sellers with their cross-country moves when the time came for them to leave the area. My past clients continuously reward me with referrals of friends, neighbors, family members, and other co-workers. That is the greatest compliment that I can receive. Designations & Affiliations: NVAR Education Advisory Committee Member RE/MAX Platinum Club 2004, 2005 RE/MAX 100% Club 2002, 2003, 2006, 2007 Associate Broker Accredited Buyer Representative Graduate, Realtor Institute Certified Residential Specialist Certified New Home Sales Professional e-Pro Licensed in Virginia and Washington DC
For the past twelve years, I've been helping first-time buyers move up from renter to proud homeowner. I've also helped many military families with relocation and take advantage of the military benefits such as the VA loan, with ZERO money down. As a Certified Relocation Specialist, I also help government and corporate transferees make a smooth transition to the area. My clients are also moving up as a result of different life stages, and when they need help selling a current home and buying another, I'm able to offer a high-impact marketing strategy that showcases their home on multiple websites to a wide audience of buyers.
When it comes to listings and homes for sale in Alexandria VA, my areas of expertise includes condos, townhomes, and single-family homes in Old Town (22314), Del Ray (22301 and 22305), Kingstowne (22315), Manchester Lakes (22310), Greater Mount Vernon (22306, 22307, 22308, 22309), and the nearby surrounding areas.
Here's what some of my past clients had to say...
I look forward to her unchallenging commitment.
I look forward to her unchallenging commitment in our quest to purchase another home and am confident that she will be there every step of the way with the kind of professionalism we have come to expect from her.
K. and G. Pollard, Woodbridge
I was made to feel important during the entire process.
" I would like to take this opportunity to thank you and tell you how pleased I was with the great service you provided. Starting with our first contact through closing, I was given expert advice, information, suggestions, and constant support.
You understood exactly what I was looking for in my first home purchase and with this understanding; you worked hard to find a house which met all my needs and desires. It was a pleasure working with you and I look forward to working with you in the future. Because of the great service and professionalism you exhibited, I will not hesitate to recommend you to my friends and co-workers looking for a truly professional real estate agent."
C. Nunley, Lorton
We would definitely recommend you to anyone who is looking to buy or sell in Northern Virginia.
We would like to extend a warm and heart-felt thank you for all of the hard work you did for us. It's amazing when I look back at the timeline, how quickly everything happened. We met for the first time around mid-July, you put my condo up for sale and got a contract around mid-August, then you found us the exact type of house we wanted and we settled mid-September! That's amazing! And thank you so much for the beautiful pictures on CD of our home!
K. and Z. Walker, Alexandria
Thanks for all your help!
It was a pleasure to work with you again. As usual, your professionalism, compassion, and enjoyment in your work, makes your clients feel at ease.
J. Fisher, Woodbridge (Repeat Client)
We can't thank you enough for all that you've done!
Thank you very much for your thoughtful and generous house warming gift. You have been an integral part of our homebuying experience from start to finish, and we can't thank you enough for all that you've done!
L. and T. Hynson, Woodbridge
Your professionalism was super!
I always knew what was going on because you supplied complete lists of what to expect. Your estimate of my proceeds was accurate and you handled all problems with a wonderful calm. I will definitely recommend you to everyone.
C. Rodriguez, Dumfries
I look forward to helping you 'Make That Move'!
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