With home sales rising and home prices following suit, many Northern Virginia residents have begun the process of listing their properties to take advantage of this exciting time in the market. But one common disconnect between homeowners and their agents is the price at which they believe they should list the property.
The price homeowners have in mind is oftentimes not realistic for the local market and takes into account a variety of factors including their emotional ties to the home. Finding a comfortable price for you can be a major obstacle when selling your home and you may need to compromise— just take a look at these common reasons homeowners overprice their homes in Northern Virginia:
You think your decor is the best
Naturally, your home in NoVA will represent your unique tastes and style, but keep in mind that it may not do the same for other buyers. Your knick-knacks, bright colors on the walls and large furniture items can get in the way of buyers envisioning themselves living in the home, so take care to scale back on these during the selling process.
You have emotional ties
Homeowners who have lived in a property for several years will develop emotional ties to the home, especially if you've raised your family there. In your mind, the home's worth may be far more than what buyers are willing to pay, so remind yourself to be realistic and remove your homeowner hat. It's important to look at the property as a buyer, without emotional ties, in order to find an accurate price.
You want to make a major profit
Who doesn't want to make a profit when selling their NoVA home? This may tempt you to drive up the price, but don't be too hasty. Your home value is dependent on the current market, comparable properties and its condition. Just because you need a specific amount of money from the sale to purchase your next dream home does not mean you can or will sell your home for that amount.
Questions about selling your home in NoVA? Give me a call today!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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When you buy a new home in Northern Virginia, one of the next steps you take will be protecting it with homeowner's insurance. However, this can be a major source of stress for first-time buyers who have never navigated the process before.
But don't worry! As your local real estate expert in NoVA, I've included answers to a few common insurance questions below so you can cross this task off of your list of homeownership to-do's!
Question: How much will I pay every month?
Your monthly payment is determined by the following:
- Your credit score
- Your home's location and age
- The costs to rebuild your home
- Your distance to a fire department and hydrant
- Your pets— certain breeds may mean you need more coverage
- How much coverage you choose
- Your claims history
Question: What is covered by my insurance?
Typically, homeowner's insurance policies include coverage for damage by fire, hail, lightning, vandalism, windstorms and the like. Water damage is also commonly covered, whether it be from burst or frozen pipes. But be aware, earthquake and flood damage may not be included and could require a separate policy.
Question: Do I need to secure insurance before I buy a home?
You do not technically need to purchase homeowner's insurance before you buy a home, but your lender may require proof of your insurance before you can secure your loan.
Question: How much coverage will I need?
Your coverage will be based on your assets and their value. It may help to take inventory of your home, writing down each item and how much you paid for it. Keep this inventory list in a safety deposit box or other safe area outside of your home in order to access it in case of emergency or loss. This list will also help your insurance agent determine how much coverage you need.
Do not hesitate to contact me with any questions you have about buying a home in Northern Virginia this year! I can help you find the best home and assist with your timeline to becoming a homeowner. I look forward to hearing from you!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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While you are shopping for a home in Northern Virginia this year, your friends and family will likely offer all kinds of tips and advice relating to the purchase— things they learned from their experience with home buying or information they've heard about the current real estate market. But that doesn't mean you should follow every tip they give you; in fact, it is always best to consult your real estate agent with any questions you have.
As your local real estate expert in NoVA, I've included four pieces of home buying advice NOT to follow this year to help steer you in the right direction and avoid any regrets later:
Wait until prices drop to buy a home
When it comes to talk of timing, you may hear you'd be better off waiting until prices drop to buy a home in NoVA. However, that just isn't the case! Home prices are not expected to go back down, instead they are predicted to rise over the next 12 months. Don't put off buying a home over this idea, you'll only cost yourself more money.
You don't need to use a real estate agent
The thought of cutting out commission may sound appealing to you, but don't be too quick to act alone. The home buying process is best navigated with an experienced real estate agent that knows the market, what you're looking for in a property and how to put together the best offer. You won't regret working with a pro!
Start with a low offer and work up
Making a low ball offer is not always the best move, in fact, you could risk losing the home to another buyer if you don't start with your best foot forward. Your real estate agent will know how low is too low and the offer that will help you score a successful sale.
Let the listing agent work for you
It may seem like an easy route to let the listing agent represent you as well, but remember that they do not have your best interests in mind. The seller's agent represents the seller first, so take the time to find an agent you trust that will work for you!
If you have questions about buying a home this year in Northern Virginia, do not hesitate to give me a call! I will put my decades of experience to work for you to help you find the best possible home for your needs!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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As you're shopping for homes in Northern Virginia, you're likely taking note of features like paint color, flooring, the number of bedrooms and bathrooms and even yard size. These are all essential in determining whether a property is for you, but there are also a few others that should ultimately raise red flags and cause you to move on to the next home in your search.
With over three decades of experience in helping buyers in Northern Virginia find their dream homes, I have included three deal breakers below to ensure you're not purchasing a home that will be a source of stress later.
Floor plan
Cosmetic elements like paint colors and flooring can easily be changed, but altering the floor plan of a home may not be in the cards— and may be extremely costly. For instance, a small, enclosed kitchen is not ideal for many homebuyers and opening up the space into the living room oftentimes requires a large budget, construction crew and installing overhead beams to re-distribute the weight of the home. If you love only certain aspects of the home, but the floor plan is not for you, move on.
Location
Many times homebuyers think they find "the one" in terms of updates, floor plan and square footage, but the location leaves much to be desired. Homes that are located near major highways, busy intersections or even next to shopping centers can be valued much lower than similar properties away from the hustle and bustle. If you're considering the home for the school district, you'll want to weigh the pros and cons of the area before deciding, otherwise, it's best to keep looking.
Placement
Older homes tend to have different placement on their lot than newer homes— for example, close to the street, in busy areas, or on corner lots. If you prefer to have more privacy with a home set back on the lot, or in a place where you don't need to drive by your neighbor's home to get to yours, you'll want to pass on these ill-placed homes. Not only will it affect the value, but it may keep you from feeling truly at home.
Questions about buying a home in Northern Virginia or what should make or break a deal? Give me a call today!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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It's that time of year again! Fourth of July is next week and for those of us in Northern Virginia, that means making plans to celebrate our nation's independence and of course, take in a fireworks display or two!
Below are a few of the many events planned for the NoVA and DC area this Fourth of July— so be sure to mark your calendar!
Mount Vernon Independence Day Celebration - July 2, 2016; 8 AM to 5 PM; George Washington's Mount Vernon. All day long, Mount Vernon will be hosting fun and games, mansion tours, musical performances and even a meet and greet with the First Couple themselves!
Independence Fireworks - July 2, 2016; 6 PM to 10 PM; George Washington's Mount Vernon. Visit Mount Vernon for an evening of fireworks set to patriotic music!
4th of July at Longbridge Park - July 4, 2016; 5 PM to 10 PM; Long Bridge Park, Arlington VA. This FREE Fourth of July event is now in its fifth year, returning with games, live music, a food truck rally and more!
Fairfax Fourth of July Celebration - July 4, 2016; 10 AM to 10:30 PM; Old Town Historic Fairfax VA. Don't miss the largest FREE parade in Northern Virginia! Parade begins at 10 AM, winding through Old Town Fairfax and continues at Fairfax High School for entertainment at 7 PM and fireworks at 9:30 PM!
4th of July in Herndon - July 4, 2016; 6:30 PM to 10 PM; Bready Park, Herndon VA. Enjoy this classic celebration featuring arts, crafts, games, music and more! Choreographed musical fireworks show begins at 9:30.
4th of July in Falls Church - July 4, 2016; 7 PM to 10 PM; City Hall and George Mason High School, Falls Church VA. This free events includes a musical performance beginning at 7 PM, followed by fireworks at 9:20 PM.
Town of Vienna Fourth of July Celebration - July 4, 2016; 4 PM to 10:30 PM; Southside Park, Vienna VA. The fun begins at 4 PM with food, a chili dog eating contest, musical entertainment starting at 7 PM and fireworks at 9:30 PM.
4th of July Hometown Celebration - July 4, 2016; 8 AM to 9:30 PM; Great Falls Village Centre and Turner Farm Park, Great Falls VA. The 5K and festivities begin at 8 AM at Great Falls Village Centre, followed by a parade at 10 AM, and fireworks at Turner Farm Park. Gates open at 6 PM.
McLean Fireworks - July 4, 2016; 6:30 PM; Churchill Road Elementary School, McLean VA. New location this year! Grounds open at 6:30 PM for fireworks show at dusk.
I wish you a safe and happy Fourth of July weekend!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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If you're a homeowner in Northern Virginia and thinking of moving on this year, you may be wondering the best time to list your home. Should you list this summer or wait until fall rolls around? Should you take your time to make updates and list toward the end of the year? Well, the answer is don't wait!
Summer is an ideal time to list your home in Alexandria, Annandale, Arlington, Centreville, Fairfax, Falls Church, McLean and the surrounding areas for numerous reasons— and I've listed a few of them below!
Demand is back
Buyer demand has remained relatively strong over the past few months and doesn't seem to be winding down! Listing your home in Northern Virginia now will allow you to be seen by the buyers that are now ready and financially able to make a move on a new home!
Things will move along quickly
It is just the beginning of summer and believe it or not, the market is just beginning to heat up for the season! By late summer, home sales are expected to surpass their highest levels in nearly a decade and banks, as a result, will be busy with loan inquiries and applications. Selling your home now will put you ahead of the rush and help speed up the process!
You have less competition
Inventory is still trending on the lower side, still under the 6-month supply mark, and for home sellers, that means less competition. With buyer demand, the number of homes for sale cannot keep up! But that doesn't mean it will stay this way— just as I mentioned above, home sales are expected to rise and along with that increase, comes additional inventory. Don't wait for more properties to hit the market and risk putting your home in the shadows— now is the time to list!
Are you ready to list your NoVA home and move on this summer? I can help walk you through the home selling process and help you find your next dream home! Give me a call today!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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So, you think you want to buy a fixer upper home? While your dreams of renovating a property may be driven by what you've seen on television shows, it's important to remember that the reality of updating a home from start to finish can be much more time-consuming, tedious, expensive and drawn-out than you realize.
As your local real estate expert in the Northern Virginia and DC area, I am sharing below three things to do before you commit to buying a fixer upper home this year:
Research the location
Not only should you research the location of a home before purchasing, but also look into the zoning. What you may not know is that every community has zoning districts and restrictions surrounding what can and cannot be done to homes within their limits. You will want to take a close look at the zoning of your future property before you become too set on what renovations you will do once you get the keys.
Speak with a contractor
Unless you are confident in your ability to do all of the work on your fixer upper home yourself, it is wise to speak with a contractor or architect who can assist you in carrying out your vision. One rule of thumb— gather quotes and opinions from several contractors in the area prior to choosing one for your projects.
Bring a home inspector on board
It is a home inspector's job to look into any structural problems, in addition to pointing out what needs to be replaced— the roof, for instance. The last thing you want when you begin your renovation projects is to find that your foundation is unstable or a major operating system like the plumbing has failed. If you need recommendations for a home inspector in your area, do not hesitate to reach out! Remember, your real estate agent is a wealth of resources!
Feel free to give me a call with any questions you have about buying a home in the NoVA area! With my decades of expertise, we can find the perfect home for your needs!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
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