Tam’s Tuesday Tip – What Makes You Click

Please join me in helping my future sellers.  Will you tell me, “What Makes You Click?” when you’re looking at Alexandria VA homes for sale online?  Inquiring sellers really want to know.  Watch my quick video below and comment here or on my Facebook page.

The first 10 comments, names will be entered into a drawing for a $50 gift card to the Cheesecake Factory.

Del Ray Real Estate Market Report Alexandria VA -
September 2011

How many homes sold in the Del Ray area during the month of September 2011? Remember that the Del Ray area covers zip codes 22301 and 22305.  So let’s start with the zip code of 22301.  Take a look at the interactive chart below and use your mouse to roll over the different points.  In September 2011, there were 13 homes that sold in the Del Ray zip code of 22301, this was down from 17 homes that sold, both in the months of July and August.

In the zip code of 22305, sales were up two units from 10 in August, to 12 in September.

How did the two zip codes compare when it comes to the median sales price? In the Del Ray zip code of 22301, the median sales price increased from $525,000 in August 2011 to $680,000 in September.  In the Del Ray zip code of 22305, the median sales price also increased from $388,500 in August 2011 to $542,500 in September 2011.  Some home sellers in Del Ray saw a decrease in the average days on market.  In 22305, the time it took to sell a home in Del Ray went from 48 days in August 2011, down to 41 days in September. However, in 22301, homes stayed on the market longer, going from 47 in August 2011, to a whopping 98 days in September.

If you are thinking about selling your home in Del Ray, please call me at 703-623-8759.  If you’re thinking about buying a home in Del Ray, here are the newest listings to hit the market:

For Alexandria VA Home Sellers – Out of The Mouths of Buyers
Top Five Things That Will Turn A Buyer Away

We’re moving along here in January, and one of my favorite things to do is to work with buyers who are in the early stages of their home search, hoping to find a new place to call home by the Springtime.

If you currently own a home and are preparing for the spring market, I’d like to give you an interesting perspective. Especially if you’re thinking about not putting 110% of your efforts into tuning in to what today’s buyer is thinking.

When there’s a large inventory of Alexandria VA homes for sale, buyers have more to choose from.  And sellers who have the ‘just make me an offer’ mentality could easily miss out on buyers who say, “Thanks…but No Thanks”…then “Next”. As I take the time to show homes along the I-95 corridor from Alexandria to Woodbridge, what I’ve noticed is that the prices are different, but the buyer feedback is consistent.

Straight out of the mouths of buyers, here are the top five things that will turn a buyer away and cause you to miss out on an offer:

1. Cleanliness- Times are tough, and even if you can afford to have Molly Maids come in and make your home sparkle, get down and clean like you’ve never cleaned before. Take the time to mop wood floors to make them shine. Vacuum the carpets to leave the lines, that shows effort. And above all else, the kitchens and bathrooms must be spotless.
2. Cigarette smoke – This is hardest for non-smokers. If you don’t smoke, the smell of cigarettes is like a smack in the face once I open the door. Not only is it a turn off, but the showing time will likely be less than one minute. A buyer will not likely take the time to see your whole house if cigarette smoke greets them at the door.
3. Wallpaper – I’ve removed wallpaper myself, and it only took a little over an hour. I saw a tip on HGTV a while ago where a simple mix of water and liquid fabric softener will make it easier to remove. But buyers instantly see the labor of taking their time to remove the wall paper, and the expense of painting before they can enjoy living in your home. So ‘icks-nay’ on the wallpaper.
4. Large dogs are scary – Even if you’ve had ‘Scooby’ since he was the cutest puppy in the litter, a large dog can easily intimidate and distract a buyer. If you have a dog, please make arrangements for him/her when your home is on the market.
5. Obvious repairs make buyers worried – While I’m retrieving the key from the lockbox, the buyer is eyeing the exterior. And usually rotted wood around the trim of the front door and the front windows are very noticeable. Buyers get the feeling that the seller didn’t take care of the home, and they immediately form an opinion before walking through the door.

Whenever I go on a listing appointment to talk to a perspective seller, I make a point of reviewing these items. As a buyer agent, this feedback is important because it helps me to narrow down homes for my buyers based on their likes and dislikes. The one question that’s important for every buyer to answer when looking at homes, “Can you see yourself living here?”

VA Compromise Sale Program Offers Cash To Distressed Military Homeowners 
$1500 Paid At Closing

Alexandria VA Short Sales – The Alexandria VA real estate market has made it tough for some military homeowners who are upside down on their mortgage to sell their home. The Department of Veteran Affairs has recently authorized a cash incentive of $1500 to homeowners who successfully complete a VA Compromise Sale. 

What is a VA Compromise Sale?  A VA Compromise sale is when the sale of your home is not enough to cover your VA mortgage balance.  As the borrower, you can request a claim from the VA to pay the short amount that will cover what is owed on the mortgage.  The mortgage lienholder is paid in full and the property is sold to the new purchaser with the lien fully released.

The $1500 incentive is shown on the HUD-1 settlement statement at closing, so the credit to the seller is not paid prior to the sale.  Much like the federal government’s HAFA short sale program where distressed homeowners can receive up to $3000, the VA Compromise Sale has guidelines:

• The property must be sold for fair market value.
• The closing costs must be reasonable and customary.
• The compromise sale must be less costly for the Government than foreclosure.
• There must be a financial hardship on the part of the seller.
• On loans that originated on or before December 31, 1989, the seller must be willing to sign a
  promissory note.
• There must be no second liens or other liens (unless the amount is insignificant). In
  situations whereby there are second liens or other liens, the seller can request that the
  lienholder consider releasing the lien and converting the loan to a personal loan.
• The seller must first obtain a sales contract in order to be considered for the program.
• To protect the seller’s interest, the seller should make the sales contract contingent and/or
  subject to the approval of a VA compromise sale.
• Once it is determined that a homeowner may qualify for VA compromise sale, the realtor or the
  homeowner should contact the homeowner’s lender and/or the VA.

Commonly asked questions from military homeowners considering a VA Compromise Sale:

1. How do I find out the market value of my home? Part of our service including providing a comparative market analysis, which is a report of the sales activity in your neighborhood.  This will show what homes have sold for, and how long they stayed on the market.  With a VA Compromise Sale, a VA appraisal is ordered by the mortgage lender.  The VA will likely not approve a sale that is less than the VA appraised value.
2. What if I do have a second lien?  Approval of a second lien will be on a case-by-case basis by the VA.  If there are large additional liens on the property, we will help you negotiate an arrangement with the lienholder so that the property can still be sold.  This may include negotiating a short payoff, or a promissory note.
3. What if I owe past due condo fees or HOA fees?  Contact the HOA or condo association immediately to find out the total amount due, and start making arrangements to bring your account current. The VA will likely not pay any money towards delinquent condo or HOA fees.  Associations have the authority to place a lien on your property and may also start the foreclosure process.
4. If I sell my home with a VA Compromise Sale, can I use my VA loan again?  Yes, but only after you have paid back your entitlement.

 If you are a military homeowner and have received your PCS orders to leave the Pentagon, Fort Belvoir, or Quantico, please call me at 703-623-8759 to see if you are eligible for the benefits that may help you if you need to sell your home.

Lorton VA Listing Agent Receives Thanks From Happy Homeowner

As a listing agent I know all to well that you’re busy.  You don’t want to deal with the inconvenience of scheduling appointments to have your home shown.  You don’t want the added stress of wondering if the buyer can qualify to buy your house.  You don’t have the time to market your home to buyers. I get that.  And quite honestly, that’s why many homeowners call me to get their home sold.

I spend a lot of time staying current on market trends, analyzing real estate market statistics, and finding out where buyers are looking for homes.  Usually, when a homeowner contacts me, they’ve already visited by website, looked at how I market homes online, or they were referred to me from a past client.

I’m happy to share this testimonial from another happy client:

When you’re ready to get your home sold without the added stress, inconveniences, and because you simply don’t have the time, email me or call 703-623-8759.

        
To see a current list of homes for sale in Laurel Crest and surrounding neighborhoods in Lorton, you don’t have to leave this page!  Here’s the current list below:

Alexandria VA Listing Agent Uses QR Code Technology To Market Homes For Sale

Well, you don’t have to stare it. You won’t see a 3-dimensional object come floating to the surface. But if you have a smartphone, such as an iPhone, Blackberry, Palm, or Droid, you may already know what to do.

This fuzzy looking barcode is called a QR code, which is short for Quick Response code. A consumer can scan this image with a QR reader app on their smartphone, and once the image is captured, the phone’s web application will automatically open and take them to the individual property website for the listed home.

This is an important feature that has spread in popularity here in the United States.  Overseas, QR codes are extrememly common, and once you become familiar with this fuzzy barcode, you’ll start to notice them everywhere from billboards to print materials.

So how does this benefit a homeowner who is trying to sell their Alexandria VA home? Well, as an Alexandria VA listing agent, part of my job is to stay informed on the ways that consumers are searching for homes. If your home is constantly being seen where buyers are looking, then that will increase your chances of getting your home sold!

Alexandria VA Short Sales | Under Contract In EOS 21 Wells Fargo Short Sale

One less Alexandria VA condo for sale in this current buyers market!  This Wells Fargo short sale is now under contract.  If you’re looking to purchase Alexandria VA real estate, then add short sale homes to your list.  Not all distressed properties show signs of distress.  This 1BR condo was well maintained, had numerous upgrades, and the location close to I-395 and community shuttle to Van Dorn metro made it very attractive to today’s buyers.

When looking at short sales in Alexandria VA, be sure to ask the listing agent what banks are involved, and how many loans there are.  As if you needed just one more thing to add to your due diligence list, but knowing what bank has to approve the short sale could be the deciding factor for some buyers.  I’ve had great success listing and obtaining approvals for Wells Fargo short sales, as they usually provide a decision within 30 business days upon receipt of all of the required documents for the short sale file.

If you are interested in finding a home for sale in Alexandria VA, and would like to find out more information about purchasing a short sale, please call me at 703-623-8759 or visit my website.

Bank of America Short Sale in Woodbridge VA | Move-In Ready Detached Home In Dale City
14758 Elmira Court, Woodbridge, VA 22193

Beautiful single-family home in Woodbridge, VA offers three bedrooms, two full baths, and spacious family room addition.  This short sale home is bright, open, and sparkling clean, just right for the new buyer.

Kitchen with cherry cabinets and stainless steel appliances.  The master bedroom has a master bathroom addition with double vanity sink and separate shower.

Enjoy the private fenced in back yard, and rear deck.  This home has been well maintained and is located on a cul-de-sac.

Subdivision: Dale City (Woodbridge, VA 22193)

Price: $195,000

Banks Involved: Bank of America

Contact Info: Listed by Tamara Inzunza, CDPE, CDRS, SFR, specializing in short sales 703-623-8759

If you are currently having difficulty paying your mortgage, you may qualify to sell your home as a short sale.  Even if you are behind on payments or have received a notice of default or notice of trustee’s sale in the mail, we may be able to stop the foreclosure process. We’ve done it before! 

As a Certified Distressed Property Expert and Certified Default Resolution Specialist, I help homeowners who are in distress understand their options.  These options may include loan modification, forebearance, short sale, Homeowner Assistance Program (HAP) for Northen Virginia military families, or other alternatives that may be approved by your lender. Before you max out your credit cards or deplete your savings trying to keep your mortgage current, feel comfortable giving me a call at 703-623-8759. 

Alexandria VA Short Sales |
Chase Short Sale Under Contract In Pembrook Village

Our Alexandria VA short sale listing at 4420 Pembrook Village Drive is now Under Contract.

If your mortgage is with Chase Mortgage, and you’re interested in finding out if you qualify for a short sale, please contact us.  Chase Mortgage has made it easy for borrowers to start the request for a short sale. 

If you qualify and would like to sell your home, the next step would be to complete the preliminary Chase Short Sale Packet, and list your home with an experienced and qualified Alexandria VA short sale agent.

Alexandria VA Short Sale Specialist | 703-623-8759 

As a Certified Distressed Property Expert and Certified Default Resolution Specialist, I help homeowners who are in distress understand their options.  These options may include loan modification, forebearance, short sale, Homeowner Assistance Program (HAP) for Northen Virginia military families, or other alternatives that may be approved by your lender. Before you max out your credit cards or deplete your savings trying to keep your mortgage current, feel comfortable giving me a call at 703-623-8759. 

Wachovia Short Sale Approval Letter And
Some Questions Explained

While working with many homeowners who are facing a financial hardship, I’ve found that these questions often come up:

1. How long will it take for the bank to approve the sale? That depends on the lender, and how many loans there are on your home.  If you currently have more than one loan, then that will add time to the short sale approval process.  All lenders will have to agree on how much they are willing to receive. Wachovia has one of the fastest turnaround times, and within the real estate industry, that good news in travelling fast.  Short approval times are good because it reduces the chance that the buyer will walk away from the transaction.
2. Will I have to pay back the short amount? Once your short sale is approved, your lender(s) will issue a Short Sale Approval Letter.  This is similar to the Mortgage Approval Letter that you received when you were buying your home.  The letter will say that you are approved, but it will be subject to certain conditions.  These conditions will be outlined, and your letter should stipulate if you will be required to pay any money.  This could mean bringing money to the table at closing, or signing a promissory note for some or all of the difference.
3. Will the bank release the lien on my house after a short sale? The short sale approval letter outlines the terms of the approval, and if all of these terms are met, the bank(s) should release the lien on your house.
4. Do I have to make any repairs? All short sales are sold in as-is condition.  This is usually a stipulation of the short sale approval. An experienced short sale listing agent will make this known by indicating it in the Multiple Listing Service (MLS) so that buyer agents are aware, and it should also be one of the terms in your sales contract.
5. What if I can’t afford to keep the utilities on? You’ll increase your chances of getting your home sold quicker if you can maintain the home to your best ability.  This includes keeping the utilities on through closing.  In some instances, it may not be financially feasible to keep the utilities on, and in the event that happens, please let your short sale listing agent know ahead of time, as it may be possible to address that in your sales contract.
6. How long will it take before I can close on the short sale? The short sale approval letter will specify the date by which closing must take place, typically it is within 30 days of the date the letter is issued.

If you are wondering what your short sale approval letter may look like, I’ve embedded an example of one below that I recently received for my sellers.  This will give you an idea of what you can expect when you sell your Alexandria Virginia Short Sale.

Wachovia Short Sale Approval Letter

Alexandria VA Short Sale Specialist | 703-623-8759 

As a Certified Distressed Property Expert and Certified Default Resolution Specialist, I help homeowners who are in distress understand their options.  These options may include loan modification, forebearance, short sale, Homeowner Assistance Program (HAP) for Northen Virginia military families, or other alternatives that may be approved by your lender. Before you max out your credit cards or deplete your savings trying to keep your mortgage current, feel comfortable giving me a call at 703-623-8759.