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.

• How is the situation where you are and how do you respond to sellers?
  
• When buyers ask you if the bottom has hit yet what do you say?
  
• Do you find yourself talking yourself out of listings?
  
• Or working with buyers?

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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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/

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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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/

Photos by Kate Elim

Spring is certainly making itself felt here at Lake Anna. Of course that means taking some photos and here are a couple. There is such a wonderful feeling of newness and a time of hope.

The trees are definitely beginning to bud as are many of the shrubs and the daffodils are telling us spring is here. The garden centers are beginning to experience large crowds especially on the weekends. Of course, now is also the time when we wish we had put more bulbs in last fall. We can make up for it now!

Before you know it the Bradford pear trees will be in full bloom along with the cherry trees, redbuds, and azaleas. Virginia is an absolutely beautiful place in the spring.

Now is the time to decide what big plans you have for your garden. How can anyone not begin to think of big plans when the days begin getting longer and we are enjoying so much sunshine.

Of course, making big plans and carrying them out are two different things.

This is the time we are confronted with all the ideas we got through the winter months while drooling over books and magazines on gardening and the catalogs with all the wonderful perennials and annuals we can indulge ourselves with for just a few dollars and just a few hours of labor. Well, maybe not just a few dollars and maybe not just a few hours but the difference is well worth it. As REALTORS we know how much curb appeal is worth and so much of that depends on the landscaping.

Before we get too busy with the garden we have to make time for Easter. Thank goodness some folks are ready. The bunny is out to greet us but the snowman is hiding off to the right. We had such a mild winter Mr. Snowman has not even realized that we are heading into spring and thus has forgotten to melt. Maybe he'll let us know where the Easter eggs are hidden.

Enjoy the Coming of Spring!

If you or someone you know is thinking of buying or selling property at or near Lake Anna, please contact Kathleen "Kate " Elim. She 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 if you prefer e-mail her at lakeanna.kate@gmail.com

Be sure to check Kate's blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/

• Yes, the real estate market has changed.
• Yes, REALTORS are working harder and earning less.
• Yes, properties are sitting on the market longer.
• Yes, many sellers are becoming frustrated.
• Yes, some buyers think the market is even worse than it is and that all sellers are getting ready to give their homes away.
• And yes, some sellers think their property is still appreciating.

All these things are true. Another thing that is true is that this has happened before and will happen again.

Yes, real estate is cyclical. It's a seller's market and then it's a buyer's market. The shift can be swift from one to the other.

As a REALTOR® you sometimes wonder which is the hardest market. The one where there are several buyers for the same property and your buyer is not the lucky one with the winning contract or the one where there are many more listings than there are buyers and your listings aren't the ones purchased.

Among the REALTORS there will be some winners and some losers. Those who have been in the business for a number of years have been through this before and some of them will say no more. Others are facing a tough market for the first time having gotten there license when the housing market was booming. Some of these will see this down turn through and others will disappear.

Whatever happens some REALTORS® will survive because we are needed. We provide a beneficial service to the public in good times and bad.

WHAT ARE YOU DOING TO SURVIVE? ARE YOU DISCOURAGED? THINKING OF QUITTING? ARE YOU BEING INNOVATIVE? AND HOW ARE YOU USING YOUR "DOWN" TIME?

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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 ever consider selling your home think back to when you bought it.

What was the first thing that sold you on it?

• Was it the location,
• the unusual color of the front door,
• the huge oaks surrounding it,
• the front porch with the swing,
• or was it the dormer windows that brought back memories of a childhood home?

Whatever the reason, that might be just the thing that appeals to the next buyer. Recently when listing homes I have begun asking owners to write what they love about their home. This certainly covers more than just what appealed to them initially, it also gives them an opportunity to share with potential buyers what they feel is special about their home.

Personally, I love to read these comments. It helps me to better understand how the owners feel about their home and also what might be the thing(s) that will appeal to someone else.

Those of us that live at Lake Anna certainly have our own reasons for buying here. The lake was a very important draw (again that powerful factor in real estate LOCATION, LOCATION, LOCATION) for most of us. Then came the selection of either a house or a lot with the ability to build on it.

Remembering what drew you to a particular home or lot and the plans you selected for your new home can be a helpful bit of information for your REALTOR® to know in marketing your home.

And be sure to share what has made your life there so special.

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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. She lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate. Reach Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/

Sometimes you just need something to take your mind off of the current real estate market, blogging, sub-prime loans, foreclosures, and short sales.

If so, here's a little something for you. Those of you that have more than two minutes to think about it may be able to figure it out. I'm sure there is a very reasonable explanation for how this works but I am much too tired to try. Maybe I will let one of my brainy kids do that for me. Here you go http://www.quizyourprofile.com/guessyournumber.swf.

Now that you have had some fun (hopefully) you may go back to thinking of how to do more business. It is a well worth thinking about as most of us would like to have more transactions right now and throughout the year.

That's not to say there isn't some good news. Many people are seeing an up tick in their market. A larger number of buyers are out looking and sellers are being more realistic in their pricing. Contracts are actually be written and accepted (even if it is following some tense negotiations) and making their way to settlement.

There may not be enough good news but there is some, hopefully enough to go around.

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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. She lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate. Reach Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/

Some states do not allow dual agency. Others do. Is the trend towards doing away with this type of representation? In fact is dual agency a form of representation or does it really mean that neither the seller nor the buyer are being represented?

When practicing dual agency how does a REALTOR® deal with offers and counter offers. Do they offer advice to both parties, to one, or to neither? What about conditions, other than price, that may require negotiation such as the settlement date, home inspection repairs, pre or post occupancy, and any number of other things that can be a bone of contention between parties.

What happens when a buyer offers a very low price and the seller suggests a very low counter and you believe the counter should be higher. Do you consel them to rethink that counter? That would be difficult if you were also "representing" the buyer. Shouldn't you be looking out for the buyers's best interest? Therein lies the dilemma. The seller's and buyer's best interest are often in direct conflict.

Dual agency can be explained in a cursory way or in depth. In fact, in Virginia it is required to provide the sellers and buyers with the written explanation. How well they understand the consequences is another thing. Even when sellers and buyers agree to dual agency do they really understand the potential pitfalls? As REALTORS®
we have seen the variety of problems that can develop, many more than most people would realize unless they have bought and sold numerous properties.

This weekend I took a new listing and the seller said, while we were filling out the agreement, that she was saying no to dual agency as a result of my advice to her. Earlier this evening I read a post by Nannette Saunders, The Full Monty of Dual Agency and it, along with the discussion I had with my client, really made me wonder if Disclosed Dual Agency has a place in real estate.

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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. She lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate. Reach Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/