Showing posts with label homeownership. Show all posts
Showing posts with label homeownership. Show all posts

Tuesday, July 26, 2016

Common Reasons Northern Virginia Homeowners Overprice Their Homes

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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Tuesday, June 14, 2016

3 Things to Do Before Buying Fixer Upper Homes in Northern Virginia

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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Tuesday, May 10, 2016

Why May Is the Best Month to Sell Your Northern Virginia Home

Homeowners in Northern Virginia have many decisions to make when it comes to selling their property, but one that I'm happy to answer is when to list. The timing surrounding the listing of your NoVA home is important and as it turns out, this month is idyllic. 

 May is one of the best times to sell your home— with homes typically selling faster and for more than the national average. If you've been considering listing your home in Alexandria, Arlington, Chantilly, Falls Church, or the surrounding areas, below are three reasons why you might like to consider this month:

School is almost finished
Many homeowners base their move around the school year and with school almost finished for the year, now is the time to make it happen. Moving before the end of the summer allows homeowners to avoid changing school districts mid-term and settle in before the new year begins.

 The weather is favorable for moving
Late spring and early summer bring a wave of warmer weather that we've been missing for months and for homeowners, that means excellent moving conditions. Few desire to move in the snow and rain, but May presents a prime opportunity to move in the clear, cool temperatures.

Tax season has just ended
As I mentioned in a previous blog post, tax refunds offer homeowners the option to either channel the money back into their property with upgrades or in this case, into a new property altogether. Homeowners listing their property this month have the opportunity to put their refund to use as a down payment and to cover closing costs on their new home.

 Do not hesitate to contact me with any questions about selling your NoVA home this year! I'm here to help!
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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Tuesday, April 26, 2016

3 Hassles to Avoid When Moving to a New Northern Virginia Home

Moving to a new home in Northern Virginia can be a stressful process, no matter what time of year it is. In fact, failing to do enough research before your move can cause even more problems that will dampen your excitement about your fresh, new start. 

 As your local NoVA real estate expert, I am sharing three common moving hassles that can throw a wrench into new homeowner plans for an easy transition. Each of these can be avoided with enough planning and research, so you will want to begin long before Moving Day!

 1. Not Researching the Moving Company
When you're choosing a moving company to help shuffle your belongings from home to home, it is important to do the background work. Gather recommendations from family and friends, or even your real estate agent, on the best team for the job. Checking references and reading all customer reviews can also offer insight into the abilities of the moving team.

 2. Not Reading the Moving Contract
Go over every line of the moving contract prior to signing on the dotted line. Oftentimes, these contracts come with fine print and disclaimers and you do not want any surprises on Moving Day! Make sure you are aware of what happens if something breaks, damages or goes missing during the move, as well as any additional costs you could be required to pay.

 3. Not Allowing Enough Time
This is perhaps one of the biggest (and most common!) moving hassles— and one that could be easily avoided! Start as early as possible with your moving preparations. Begin clearing out all clothing and items that have gone unused and take a trip to donate them. Pull everything out of cupboards, cabinets, storage and the garage to make sure you're not moving anything unnecessary. 

 Organize everything into labeled boxes and take care to only place items that belong in that respective room or area in the box. The last thing you want is a lost toothbrush on your first night in your new NoVA home!
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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Tuesday, March 1, 2016

Northern Virginia Home-Related Deductions You Can Take on Your Taxes

Being a Northern Virginia homeowner does have its perks— from additional storage that renters just don't have to the tax benefits associated with your home. However, many NoVA residents are not aware of certain deductions available to them and as a result, skip them entirely. 

 If you have not yet filed your tax return, there is still time to look over the following list of home-related deductions you are able to claim. 

 The mortgage interest deduction
NoVA homeowners are able to deduct their mortgage interest, which you claim on Schedule A of your tax return. Interest paid on a mortgage of up to $1 million, or $500,000 if you are married filing separately, is deductible when you use the loan to buy a home, build a home or improve a home. 

 If you have a second mortgage, home equity line of credit or home equity loan, and use the loan to buy, build or improve a second home, that amount does count toward the $1 million limit. It is also important to keep in mind that any other loan secured by your home for other purposes, like your child's college tuition, does still qualify for the mortgage interest deduction (up to $100,000 for single filers or $50,000 for married filing separately) as your home secures the loan.

 The property tax deduction
Homeowners in Alexandria, Arlington, Fairfax, Falls Church, McLean, Springfield and the surrounding NoVA communities are able to deduct real estate property taxes on Schedule A. The amount you paid in property taxes will show on your annual escrow statement if you have a mortgage with an escrow account.

 The private mortgage insurance deduction
If you were required to take out private mortgage insurance (PMI) on your home loan, you can deduct the cost on Schedule A if you itemize your return and your income is less than $100,000 (or $50,000 if married filing separately). This also only applies to loans taken out in 2007 or later.

 The energy-efficient upgrades deduction
Installing new energy-efficient features—like windows and appliances—in your home does allow you to claim a specific tax credit. The credit does have a lifetime cap of $500, so you will need to subtract any energy-efficency tax credits you claimed in previous years from this limit.

 Ready to become a homeowner for the first-time this year? Or simply looking to move to your next dream home in Northern Virginia? 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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Tuesday, January 26, 2016

How to Protect Your Northern Virginia, DC Home From the Snow

This weekend's historic blizzard dropped loads of snow onto many Northern Virginia and DC homeowner's rooftops. And while some were prepared for the storm, others were scrambling to de-ice sidewalks and driveways and protect pipes after the fact. 

 In a previous blog post, I shared a few tips for preparing your NoVA home for winter and now I'm happy to provide a few more suggestions to protect your property from the snow. The cold, winter conditions can wreak havoc on your home and it's important to take the following steps ahead of time:

Shut off outdoor faucets
Be sure to shut off inside valves for your outdoor faucets and unhook hoses. Any excess water left in the exterior faucets should be drained ahead of a snowfall in Alexandria, Arlington, Annandale, Fairfax, Falls Church or the surrounding communities. When the temperatures dip low, the pipes leading to these faucets are susceptible to damage, so you might also consider wrapping them in a towel for added insulation.

 Protect indoor pipes
Cold air can also put your indoor pipes at risk of bursting. Open your cabinet doors under the sink to allow warm air from your home to circulate inside. If necessary, you can always turn up the heat inside your NoVA home to warm up the pipes.

 Clean the gutters
Prior to a snowstorm, your gutters should be clear of any leaves as ice dams can form and flood your home.

 Purchase salt and sand
Sprinkling salt or sand ahead of a snowfall can actually cut down on your shoveling time! A few hours before the snowfall, toss on walkways and driveways to be safe.

 Check carbon monoxide detectors
Gas appliances and wood-burning fireplaces have the potential to produce carbon monoxide, so it is always wise to conduct a routine check of your detectors. 

 As your local Northern Virginia real estate expert, I am here to answer any questions you might have about buying or selling a home in the winter months—as well as year-round—so do not hesitate to contact me!
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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Tuesday, January 19, 2016

Northern Virginia, DC Homebuyers: Should You Choose A New or Existing Home?

Even if you've already made your homebuyer wish list—detailing everything you want in a property from number of bedrooms to outdoor space—you may not have considered the age of the home itself. Should you choose a new construction home that includes the items on your wish list? Or should you go with an existing property in NoVA that you can make your own?

 Before you begin house-hunting, you should be prepared to answer these questions and as your local real estate expert in Northern Virginia, I'm including a few points below that can help you decide!

 New Home Pros
  • You'll be the first to live in the house.
  • Appliances are brand-new and covered by warranties.
  • Appliances, roofing and major household systems like plumbing and HVAC will have years before they need to be replaced.
  • New homes will have the latest energy-efficient and safety features.
  • Less maintenance.
New Home Cons
  • A new home will generally cost more per square foot. 
  • Even with new appliances and systems, new homes are subject to malfunctions and breaks just like any other home.
  • If customizing your home, you may have to compromise on choices like cabinets and flooring due to budget.
Existing Home Pros
  • Existing homes generally cost less per square foot and give the NoVA homeowner more value for their money.
  • You can channel the price difference into renovations and upgrades.
  • Move-in dates tend to be quicker than homes that need to be customized or finished.
  • Existing homes already have appliances, landscaping and features included— you don't need to choose prior to move-in.
Existing Home Cons
  • Appliances and major systems can be older and in need of repair when you purchase the home.
  • The home may have had multiple owners.
  • Existing homes, depending on their age, may have electrical or plumbing that is not up to current standards.
  • Renovations can uncover damage from previous years and owners.
Have an idea of which type of home you'd like to purchase this year? Need a little more assistance with your decision? I'm here to help! 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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