Walter Grewe III, Realtor Roanoke Homes and Real Estate

This past Monday a friend and I climbed the 3.5 mile trail to McAfee Knob. It was my first time, but definitely not my last. We took the old fire road to start, it offers a wider track and less switchbacks than the trail. It was quite chilly as we began the 1,200 foot ascent, but I soon found myself feeling challenged by the steady climb.

We hiked steadily for about an hour and a half before reaching the objective and the hype was supported by the reality. Under an azure sky dotted with puffy clouds the Catawba Valley spread out below like a picture postcard. The wind was so brisk it made my face feel hard and tight, but the joy of being alone at arguably the most beautiful spot on the Appalachian Trail made it all worth it. We didn't remain long at the top because the wind chill made it to difficult, but it was so clear that we could see Sharp Top and Round Top rising off to the northeast.

As we started our return journey I wondered aloud to my companion," How can people not enjoy the woods?" I felt so exhilirated by our hike I have vowed to make a monthly ritual of exploring the natural beauty that abounds around the City of Roanoke.

This post is aimed at first time buyers who are interested in trying to take advantage of an extraordinary program offered by the Federal Government. It is my hope that people who are considering purchasing a home in the Roanoke Virginia area will contact me with any concerns or questions regarding this or any other Real Estate issues.

Here are the highlights of the program:

1. Eight grand, new buyers: This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.

2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.

3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.

4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.

5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.

6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)

The current conditions in Real Estate these days calls for the assistance of a Professional Realtor. Please feel free to visit our website at http://www.TheRoanokeRealEstateTeam.com to receive answers to any questions you might have about the constantly changing market.

This is the final installment in the series. In the first two I discussed the different questions regarding marketing, advertising, and market area presence. In this final installment I will go over if the Realtor already has buyers looking for a home like yours, references from past clients and being displeased with the efforts of your Realtor.

The sixth question you should ask: How many buyers are you currently working with?

Obviously the more buyers your agent is working with the better the chances are of getting your home sold quickly. Ask them to describe the system they have for attracting buyers. Often Realtors will run ads in real estate magazines or the newspaper specifically designed to attract people who are in the market to buy houses. Is your agent doing this?

The seventh question you should ask: Do you have a reference list of clients I could contact?

Ask to see this list, or for a copy to keep, and then cal a few and see what their feelings are about how well they were represented.

The eighth question you should ask: What happens if I'm not happy with the job you are doing to get my home sold? Can I cancel my listing contract?

Be wary of agents who lock you into a lengthy listing contract which they can get out of( by ceasing to effectively market your home) but you can't. How confident is your agent in his or her marketing plan? Are they willing to give you a cancellation guarantee? There are some Broker protections in place to safeguard an agents interests, is your agent willing to provide you with any?

Evaluate each agent's responses to these questions carefully and objectively. Who will provide you with the best service? These questions will help you to decide. If you would like to discuss any real estate related concerns or questions, please feel free to contact me by phone or visit our website at www.RoanokeRealEstateTeam.com .

This is the second of three blogs regarding things you should discuss with a potential Realtor, before listing your home with them. In the first installment I related information you need to know regarding the marketing plan, company reputation and volume of sales. In this installment we will talk about days on market and listing price to selling price ratio.

The fourth question you should ask: On average, how long does it take your listings to sell?

This information is easily available to any Realtor through their local Real Estate Board. Does this agent tend to sell faster or slower than the board average? Their performance on this measurement will help you predict how long your home will be on the market before it sells. This is also more often than not an indication of the Realtor "buying" the listing. "Buying" a listing refers to a Realtor recommending a listing price higher than it should be in order to secure your business. This is not an ethical practice, it will cause your home to sit on the market longer and become "market worn". A home becomes "market worn" when it sits on the market and does not get shown by Realtors due to pricing being too high. Even when the price is reduced to a more realisitic price the home is often overlooked or viewed as having some type of issues due to it being on the market so long.

The fifth question you should ask is: On average, when your listings sell, how close is the selling price to the listing price?

This information is also easily available through the local Real Estate Board. Is this agents performance higher or lower than the Board average? This is more than likely a very important statistic to many homeowners, because iot will determine the amount of money that will end up in your pocket. This also is a strong indicator of how well a Realtor prices homes. If their sales price to listing price is below 90% it can be assumed that they might be inflating their initial listing price.

Check back in a few days for the final installment in this series. If you would like to talk about getting your home sold with less hassle for more money visit our website at www.RoanokeRealEstateTeam.com or call me for more immediate attention.

It is critical that you make the right decision about who will handle what is probably the single largest financial investment you will ever make. Picking the right agent is one of those critical decisions that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Some agents actually prefer that you dont ask them these questions, because the information that gain for their answers will give you a very good idea of their commitment to you and your goals.

The first question you should ask is; What makes you different? Why should I list my home with you?

It's a much tougher real estate market than it was a few years ago. What unique marketing plans and programs does this agent have in place to make sure that your home stands out favorably versus other competing homes? What things does this agent offer you that others don't to help you sell your home in the least amount of time, with the least hassle, and for the most amount of money?

These days there are many different marketing techniques available for Realtors to expose your home to the buying public. Are they using the internet? A recent National Association of Realtors study found that over 80% of home buyers begin their searches online. Are they using 1-800's? There are services available now that allow Realtors to have recorded descriptions of your home available to prospective buyers 24 hours a day 7 days a week. The days of printed flyers in boxes in front of homes are over. Who wants to get out of their car in the rain, these numbers make it much easier for people to recieve this information instead of finding an empty flyer box.

The second question to ask is; What is your company's track record and reputation in the market?

I'm sure you will agree that success in real estate is selling homes. If one agent is selling a lot of homes where another is selling only a handful, ask yourself why might this be? What things are these two doing differently? You may be surprised to know that many Realtors sell fewer than 5 homes a year. This volume makes it difficult for them to do the full spectrum of marketing on your home, because they can't raise the money it takes to afford the advertising and special programs to give your home a high impact profile. Does this sound like the person you want representing you and your home? Does the broker they work for advertise in the area? Do people recognize the name of the company that will be presenting your home to the public?

The third question to ask is; What are your marketing plans for my home?

How much money does this agent spend in advertising the homes s/he lists versus the other agents you are interviewing? In what media (newspapers, magazines, internet, etc.) does this agent advertise? What does s/he know about the effestiveness of one medium ove another?

It has been stated humorusly that many agents use the A,B,C,s of real estate to sell a home. A- Advertise themselves. B- Bang a sign into your yard. C-Create an ad and run it if they can afford it. D- Dream about the commission. Does this sound like the best way to get your home sold?

Check back in a few days for the second installment in this series. If you would like to talk about getting your home sold with less hassle for more money visit our website at www.RoanokeRealEstateTeam.com .