Posts Tagged ‘new homes for sale’

How to Shop for an Energy-Efficient Appliance

August 3, 2012

According to the Federal Trade Commission (FTC), the appliance with the lowest initial purchase price, or even the one with the best repair record, isn’t necessarily the one that costs the least to operate.  You can learn about the energy efficiency of an appliance that you’re thinking about buying through the yellow-and-black EnergyGuide label it displays. The FTC’s Appliance Labeling Rule requires appliance manufacturers to put these labels on:

Refrigerators, freezers, dishwashers, clothes washers

Water heaters, furnaces, boilers

Central air conditioners, room air conditioners, heat pumps

Pool heaters

When you shop for one of these appliances in a dealer’s showroom, you should find the labels hanging on the inside of an appliance or secured to the outside. The law requires that the labels specify:

The capacity of the particular model

For refrigerators, freezers, dishwashers, clothes washers and water heaters, the estimated annual energy consumption of the model

For air conditioners, heat pumps, furnaces, boilers and pool heaters, the energy efficiency rating

The range of estimated annual energy consumption, or energy efficiency ratings, of comparable appliances.

Some appliances may also feature the EnergyStar logo, which means that the appliance is significantly more energy efficient than the average comparable model.

When shopping for an appliance, keep the following in mind:

Select the size and style. Measure the space the appliance will occupy to be sure your new purchase will fit. Make sure that you’ll have enough room to open the door or lid fully and enough clearance for ventilation.

Know where to shop. Appliance outlets, electronics stores and local retailers carry different brands and models. Dealers also sell appliances through print catalogs and the Internet.

Compare. Ask to see the manufacturer’s product literature. Decide which features are important to you. Ask questions about how the different models operate: Are they noisy? What safety features do they have? What about repair histories? How much water do they use? How energy efficient are they?

Estimate how much the appliance will cost to operate. The more energy an appliance uses, the more it will cost to run. Consult the EnergyGuide label to compare the energy use of different models. The difference on your monthly utility bill can be significant.

Ask about special energy efficiency offers. Ask your salesperson or local utility about cash rebates, low-interest loans or other incentive programs in your area for energy-efficient product purchases – and how you can qualify.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Fact: All Real Estate Headlines Are Not Local

August 2, 2012

None of us are immune to the constant stream of negative news about the real estate market. There’s no denying the fact that the market has suffered, along with our country’s economy, over the past couple of years.
Unfortunately, this has created a serious dilemma as many consumers unwittingly base their real estate decisions on national media reports. Those of us in the industry live by the term “all real estate is local,” and as a consumer, so should you—otherwise, you run the risk of making an irreversible real estate mistake.
The truth, which you won’t find in the national media, is that real estate markets not only vary from region to region but from county to county, neighborhood to neighborhood…even street to street. I know from my national network of leading real estate professionals, The Top 5 in Real Estate Network®, that there is tremendous variation in home sales prices from locality to locality, and that buyers and sellers are often heading into—or worse, avoiding all together—a real estate investment based on misinformation from national media reporting.

Therefore, if you are thinking about buying or selling a home, it’s essential that you talk to a seasoned real estate professional in the areas you’re considering. Keep the following tips in mind when considering a real estate sale or purchase:

1. Consult with a local real estate professional—like a Member of Top 5—for the most up-to-date information on the local market.
2. Ask for statistical reports and trend graphs—the hard facts. Real estate professionals have access to actual data that can be broken down into extremely finite components, such as a particular street or neighborhood.
3. Ask for comparative reports for the last 3-4 months of the current year, versus the previous year. This will reveal the latest market trend and provide you with concrete facts.
4. Media reports can vary widely based on state, city, and neighborhood – read, listen, learn, but always revert to the facts for the specific area in which you are looking, especially if you are relocating to a different state or region.
5. Also take seasonal considerations into account. In vacation-destination areas, the numbers will vary greatly from national and state data.

For many real estate consumers, today’s market is an unbelievable opportunity to buy or move up to a different home. Don’t let the national headlines scare you away. Consult with a local real estate professional to get only the facts that matter to your specific situation and location.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Top 5 Tips for Buying a Luxury Home

August 1, 2012

Despite the doom and gloom the media portrays regarding today’s real estate market, several unique opportunities exist for home buyers, in particular, luxury home buyers.
While home prices across the country have dropped or stabilized to varying degrees, according to my colleagues in the Top 5 in Real Estate Network®, luxury home prices have been slashed, in many cases, as the market for such high-end properties has dwindled in challenging economic times. This presents a great opportunity, for those who have the financial resources, to purchase a luxury home that might have been completely out of their range six years ago.
Purchasing a luxury property, however, is unlike a standard home purchase. I advise all my luxury-home clients to consider the following before embarking on their search:

1. Weigh the finances carefully. 
Even if you’re ready to pay cash for your luxury home, you still want to ensure you’re getting the best possible value and potential return on investment from your home purchase. Make sure you truly have the financial wherewithal to remain in the home as long as you’d like. Consider the stability and growth potential of your future income before moving forward.

2. Have your documentation in order.
Many luxury home buyers derive their net worth from a variety of sources and investments. Given the high-end purchase price of a luxury home, along with today’s unstable economic climate, prequalification is often necessary when it comes to luxury purchases.

3. Investigate alternative search methods.
The best luxury property deals might not be found through traditional real estate search engines but rather through word of mouth. Make sure you’re working with a professional real estate agent who is well connected and networked in the communities your are considering

4. Seeing is believing.
Expansive square footage, sprawling property, and a bevy of incredible views often make luxury homes difficult to completely capture in photos, videos or virtual tours. A visit in person is an absolute must to make sure you’re not missing any potential details and, conversely, to make sure the property lives up to its image.

5. Consider the future.
Your luxury home investment needs to be carefully considered for the future, in particular your expectations in terms of your return on investment. Most luxury home buyers are buying a lifestyle and don’t intend on flipping their home anytime soon. Given the volatility that still exists in today’s market, make sure you’re not headed into your luxury purchase with unrealistic thoughts of financial gain but rather to enjoy a spectacular home for many years to come.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

How to Enjoy Your Fireplace…Safely

July 31, 2012

As we enjoy this holiday week and invite friends and families to our home, the fireplace often serves as the iconic focal point of our get-togethers. In fact, according to the U.S. Fire Administration (USFA), approximately one-third of Americans use fireplaces, wood stoves and other fuel-fired appliances.
My colleagues and I in the Top 5 in Real Estate Network® know how important a fireplace can be to making a house a home. But we also know the hazards they can present when proper safety precautions aren’t taken. Following are some important tips for safely enjoying your fireplace and protecting your family and home:

1. Yearly fireplace maintenance is crucial. Gas and wood-burning fireplaces require yearly maintenance in order to work effectively. If you light fires frequently, consider having this done twice a year. Chimneys should be inspected and cleared each year by a certified specialist—a professional real estate agent can recommend a good chimney sweep in the area. Burners and controls for gas fireplaces should be vacuumed and brushed at least once a year.
2. Check smoke detectors and fire alarms often to ensure they are working properly. Also, make sure you have enough in your home. The USFA recommends installing smoke alarms on every level of your home and inside and outside of sleeping areas. Test them monthly and change the batteries at least once a year. Consider installing the new long-life smoke alarms.

3. Keep the fire manageable. Small fires produce less smoke and are easier to control. Make sure your fireplace screen or cover fits securely in order to prevent any embers from escaping.

4. Monitor carbon monoxide (CO). Carbon monoxide is an odorless, colorless and tasteless poison produced whenever gas, oil or wood is burned. CO is controlled by proper maintenance and ventilation of fuel-burning appliances. Carbon monoxide monitors should be used in any home that has a fireplace.

5. Enable proper ventilation. Air is vital for fireplaces to function properly and for preventing CO buildup. Never cut off the air supply to the flame. Make sure that necessary vents and dampers are open, and do not shut the flue until the fire is almost out. Leaving a window open a few inches can also help circulate fresh air and prevent back drafts.

6. Only burn the proper materials. Use only seasoned hardwood, such as oak, ash or maple. Soft, moist wood accelerates creosote buildup in your chimney, which can lead to chimney fires. Lighter fluids, flammable liquids, cardboard and trash should never be used to start a fire.

7. Ensure the right conditions outdoors. Keep your roof clear of leaves, pine needles and other debris, says the USFA. A clogged chimney, cracked masonry or a blocked vent can greatly increase the chance of fire or carbon monoxide poisoning. Periodic outdoor inspections for low-hanging branches or other debris should be performed throughout the winter.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Tips for Rebuilding Your Credit After Foreclosure

July 30, 2012

Many people have weathered through some tough times over the past few years. But now, as things begin to look a little brighter, it’s time to consider starting over the right way and with a plan.

As a member of the Top 5 in Real Estate Network®, I am well versed in credit and lending issues and can offer some great tips and information on taking the steps to once again qualify for a mortgage.

Here are some tips for getting your credit back on track:

Pay your bills on time: The FICO score, the dominant credit score used by lenders, gives the greatest weight to payment history, so make sure you consistently pay your bills on time.

Review your credit report: You’re entitled to a free credit report once every 12 months from each of the three national credit bureaus — Experian, TransUnion and Equifax. You should get a copy and check it for any inaccuracies. To get your free credit report, go tohttp://www.annualcreditreport.com.

Check your mortgage: You want to be sure that you don’t still owe anything on your old mortgage. Sometimes proceeds from a foreclosure sale aren’t enough to cover what’s owed on the mortgage, which would leave you owing the difference.

Apply for credit: In particular, apply for different varieties of credit. Credit-scoring models value having different types of credit, so apply for everything from a credit card to a car loan but don’t apply for too much credit at one time. Too many inquiries on your credit report will look poor.

Don’t fall prey: Watch out for credit repair companies that promise to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job — after paying a fee for the service. “The truth is, that no one can remove accurate, negative information from your credit report,” according to the Federal Trade Commission. “It’s illegal.” Only the passage of time can assure that negative, but accurate, information on your credit report will be removed.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Remodeling? Know which Projects Will Increase Your Home’s Value

July 27, 2012

With many home buyers choosing to stay put as opposed to selling their home in the current marketplace, remodeling projects are gaining new ground. However, before you set out on your remodeling project, the National Association of the Remodeling Industry (NARI) advises homeowners to make sure they’re getting the most value out of their remodeling dollars.

In my years of experience as a real estate professional, I have seen first-hand how the right home improvements can add to your home’s value…especially today when equity has been so hard hit. Wise remodeling decisions will also help command a higher selling price if and when it comes time to put your home on the market. To help guide you, NARI offers the following suggestions when considering a remodeling project:

• Exterior home improvements such as roofing, siding, windows and doors are subject to the elements and usually need to be replaced after a number of years. In terms of re-sale value, updated exteriors give sellers an edge over buyers who are attracted to your home before entering.

• According to Energy Star, half of a home’s energy use is dedicated to heating and cooling. If a system is more than 10 years old, it may be time to replace it. New, energy-efficient systems are not only more cost-effective but are also better quality.

• All homes benefit from increased insulation and sealing, regardless of climate. Older homes are traditionally under-insulated compared to new homes, and recent insulation innovations like spray foam or cellulose increase the ability to trap air inside. Proper insulation evens temperature flows, reduces energy use and has long-term benefits.

• Kitchen and bath renovations continue to be winning remodeling choices, as homeowners continue to see the value in updating high-functioning areas of the home that are used frequently. Be sure to take universal design concepts into account, increasingly incorporated into kitchen and bath areas to accommodate people of all sizes, abilities and ages.

While it may be acceptable to handle cosmetic updates to your home on your own—such as painting—be sure to contact a qualified professional for larger remodeling jobs like the above. Also, if your home remodel is large scale in nature—and potentially cost prohibitive—consider “phased” remodeling, where projects are broken into phases over time, for a long-term project plan.

 

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Reasons Why Now Is the Best Time to Buy a Second Home

July 26, 2012

With all the negative news about the economy and the real estate market, in particular, there’s a good chance you’ve put any ideas of buying a second home on permanent hold.
As a Member of the Top 5 in Real Estate Network®, however, I can tell you that just the opposite is true. The reality is that now is the best possible time to shop for a second home, whether it be the vacation spot you’ve always dreamed of, a retirement home or an investment purchase. Or, if you’ve thought that a second home was not a possibility for you, it just might be now. Here’s why:
1. Just about across the board, prices are down…in some spots, they are actually down to 2001 levels. Those of you who may have been priced out of the market in past years are suddenly back in.
2. Mortgage rates are sticking at about 5%. This won’t last forever, however, especially as the market slowly starts its climb upwards.
3. If you’re able to itemize deductions on your tax return, then the interest expense on your second mortgage is tax deductible.
4. If you’re buying in a popular vacation spot—such as on the shore, in the mountains, near a lake, in the city—then you can rest assured that your investment will increase as the market continues to recover.
5. If you’re not ready to retire or take advantage of a second home yet, bear in mind you’re creating an excellent source of additional income in terms of rental revenue…something we can all use in today’s economy. Consider making this purchase now, while conditions are favorable for buyers, rent it out, and then enjoy your home when the time comes.
I’ve seen many a savvy client take advantage of today’s market to make a desired lifestyle change or an investment that will pay dividends when the market picks up. Don’t let the media negativity prevent you from missing this great opportunity to buy a second home.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

What to Consider When Buying a Home

July 25, 2012

Thanks to the perfect storm of low prices, attractive inventory, and affordable interest rates, this continues to be a lucrative time to invest in a home, whether it be a first home, a move-up home, or a second home.
Choosing a home is no easy process, however, and many factors must be carefully weighed before making your selection. As a member of the Top 5 in Real Estate Network®, I advise my clients to pay careful attention to a few details in particular when considering a home—these important details will significantly impact your long-term happiness in the home as well as the home’s appreciation over time. So, as you begin to consider properties in our neighborhood, here are a few issues to think about that may help you find exactly the right home for you and your family:
Type of home: One-story or two, single-family, duplex or condo? How will paying homeowner dues affect your overall buying power? Will a swimming pool be a bonus or a hindrance? Making these decisions in advance will help you focus on the right types of home to look at.

New or existing: A new home is all shiny and clean, but will carry with it some hefty initial costs such as landscaping and window coverings. An existing home will have many of these things, but repairs or renovations that may need to be made will also impact your budget.

Features: Weigh the costs of gas vs. electric heating and cooling, and the possible need for fencing. How important is a fireplace? Does the home have enough bedrooms and bathrooms to support your family in the coming years?

Ease of maintenance: What is the condition of the roof? The appliances? Will you have to paint the interior or exterior and/or replace the carpeting? Be sure to factor in such costs in your budget and your negotiations.

Location: Do you want to be in the city or in the country? Nearer to libraries, parks and entertainment or set among tall trees and lakes? What about the need for public transportation? Nearby hospitals and schools?

Crime rate and public schools: Check with local enforcement and local residents to get a feeling for statistics and quality. I can also provide you with up-to-date statistics on this information.

Economic stability: Whether an area is growing or not can affect its future property value—as will the economic stability of the area.

Property tax: Examine the annual amount of real estate taxes and other assessments levied in the neighborhoods you are considering.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

Top 5 Tips for First-Time Home Buyers

July 24, 2012

Today’s real estate market presents many unique opportunities for first-time home buyers. From low interest rates to foreclosure properties and short sales, the current economic climate puts homeownership within reach for many who might have thought they couldn’t afford it.

Many first-time home buyers may not be aware of the numerous aspects involved in the home-buying process, however. As a Member of the Top 5 in Real Estate Network®, I am aware of the many pitfalls that can trip new buyers up along the way. Here are five important tips to keep in mind when embarking on homeownership.

  1. Study: Do your homework before you buy and be sure to review the closing numbers of comparable homes in the neighborhoods you are exploring. Use the Internet, including social media sites, to garner as much information as possible about homes that interest you and the communities in which they’re located. Bring this information to your real estate agent who can interpret it and put it within proper context to your needs.
  2. Credit: With today’s tight lending standards, it’s imperative to clean up your credit score before applying for a mortgage. A bad credit score may not just affect your rates, but may prevent you from getting a mortgage altogether.
  3. Get preapproved: Getting your mortgage preapproved gives you extra leverage with home sellers. Not only will you know what the purchase parameters are, but you may be able to negotiate a better purchase price because you can close with more certainty and more quickly. Work with your real estate agent to negotiate a mortgage contingency.
  4. Title: Make sure any new additions or construction to an existing home have been properly filed with the local municipality and have been approved.
  5. Inspection and appraisal: Getting a home inspection is imperative in order to weed out any hidden problems, such as mold or termites, before you sign the contracts. Problems found during the inspection can potentially be used as a bargaining chip with sellers. Likewise, an appraisal is a must to ensure the value of your purchase.
I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800

7 Steps to Buying a Short Sale

July 23, 2012

Today’s real estate market is yielding great opportunities for home buyers, such as short sales. Short sales, however, can be a complicated and often frustrating process for both buyers and sellers. From home inspection company Pillar To Post (www.pillartopost.com), here are some important tips for pulling off a successful-short sale transaction:

1. Finding Short-sale Properties
Most short sales are listed by real estate agents on local websites and in MLS feeds. Because some lenders complain that identifying a property as a short sale enables buyers to lower their bids, agents will slip in terms that more subtly identify the listing as a short sale, such as:

  • “Subject to bank approval”
  • “Pre-foreclosure”
  • “Notice of Default”
  • “Preapproved by bank”
  • “Headed for auction”

2. Choosing a Real Estate Professional
Make sure the real estate agent you choose to work with has experience and/or certification in short sales. The buying process is often far more complex and far longer than a typical home sale, so a trained ally on your side can make your experience successful.

3. Investigate the Mortgage and Liens on the Property
Your agent must be able to: uncover how much the mortgage is worth; find out how much the current owners paid and when; find out how many liens are on the property; find out which lender is the primary lien holder; research comparable sales in the area.

4. Have a Home Inspection
Since many short sales are sold “as is,” with no contingencies allowed, having a home inspection is imperative. If extensive repairs are needed, the home may not be a bargain after all.

5. Write a Complete Offer
Remember, the lender—not the owner selling the property—decides whether your offer will be accepted, rejected or countered, so helping the lender will help support your bid. Be sure to include the following materials with any short-sale offer:

  • Cover letter
  • Signed owner/borrower short-sale purchase agreement
  • Seller hardship letter
  • Seller payroll stubs
  • Two years of seller tax returns
  • Market comparables
  • HUD-1 closing net sheet
  • Repair cost estimate
  • Pictures of property

6. Negotiate
If the lender rejects or counters your written offer, you’ll have to negotiate with the lender by making a higher offer. Be prepared to offer more money to close the deal, or to walk away if it doesn’t make financial sense.

7. Be Patient
In today’s market, short sales are overloading many lenders. Processing and decision-making times for some lenders can be quite long—up to a year or more. So make sure you’re prepared to hang in there.

I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax,Clarke, Fauquier and Prince William Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.  Cell 703.727.9885      Office 703.574.3800